This press release contains supplemental non-U.S. GAAP financial information.

Readers are cautioned that these measures are unaudited and not prepared in accordance with U.S. GAAP and should not be considered as a substitute for U.S. GAAP financial measures. In addition, such non-U.S. GAAP financial measures may not be comparable to similarly titled information from other companies. To compensate for these limitations, the supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with the Company's consolidated financial statements prepared in accordance with U.S. GAAP.

See the Appendix of this press release for a reconciliation of the Company's non-U.S. GAAP financial measures to their corresponding U.S. GAAP financial measures.

Forward-looking Information

Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended) that are based on management's current views and assumptions, and are conditioned upon and also involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those anticipated by such statements, due to, among other factors: 


   -- changes in global trade policies, including the adoption and expansion of 
      tariffs and trade barriers, that could affect the macro-economic 
      environment and adversely impact the demand for our products; 
 
   -- uncertain macro-economic and industry trends, which may impact end-market 
      demand for our products; 
 
   -- customer demand that differs from projections; 
 
   -- the ability to design, manufacture and sell innovative products in a 
      rapidly changing technological environment; 
 
   -- changes in economic, social, public health, labor, political, or 
      infrastructure conditions in the locations where we, our customers, or 
      our suppliers operate, including as a result of macroeconomic or regional 
      events, military conflicts, social unrest, labor actions, or terrorist 
      activities; 
 
   -- unanticipated events or circumstances, which may impact our ability to 
      execute our plans and/or meet the objectives of our R&D and manufacturing 
      programs, which benefit from public funding; 
 
   -- legal, political and economic uncertainty surrounding Brexit may be a 
      continued source of instability in international markets and currency 
      exchange rate volatility and may adversely affect business activity, 
      political stability and economic conditions and while we do not have 
      material operations in the U.K. and have not experienced any material 
      impact from Brexit on our underlying business to date, we cannot predict 
      its future implications; 
 
   -- financial difficulties with any of our major distributors or significant 
      curtailment of purchases by key customers; 
 
   -- the loading, product mix, and manufacturing performance of our production 
      facilities and/or our required volume to fulfill capacity reserved with 
      suppliers or third party manufacturing providers; 
 
   -- availability and costs of equipment, raw materials, utilities, 
      third-party manufacturing services and technology, or other supplies 
      required by our operations; 
 
   -- the functionalities and performance of our IT systems, which are subject 
      to cybersecurity threats and which support our critical operational 
      activities including manufacturing, finance and sales, and any breaches 
      of our IT systems or those of our customers or suppliers; 
 
   -- theft, loss, or misuse of personal data about our employees, customers, 
      or other third parties, and breaches of global and local privacy 
      legislation, including the EU's General Data Protection Regulation 
      ("GDPR"); 
 
   -- the impact of intellectual property ("IP") claims by our competitors or 
      other third parties, and our ability to obtain required licenses on 
      reasonable terms and conditions; 
 
   -- changes in our overall tax position as a result of changes in tax rules, 
      new or revised legislation, the outcome of tax audits or changes in 
      international tax treaties which may impact our results of operations as 
      well as our ability to accurately estimate tax credits, benefits, 
      deductions and provisions and to realize deferred tax assets; 
 
   -- variations in the foreign exchange markets and, more particularly, the 
      U.S. dollar exchange rate as compared to the Euro and the other major 
      currencies we use for our operations; 
 
   -- the outcome of ongoing litigation as well as the impact of any new 
      litigation to which we may become a defendant; 
 
   -- product liability or warranty claims, claims based on epidemic or 
      delivery failure, or other claims relating to our products, or recalls by 
      our customers for products containing our parts; 
 
   -- natural events such as severe weather, earthquakes, tsunamis, volcano 
      eruptions or other acts of nature, the effects of climate change, health 
      risks and epidemics such as the COVID-19 in locations where we, our 
      customers or our suppliers operate; 
 
   -- the duration and the severity of the global outbreak of COVID-19 may 
      continue to negatively impact the global economy in a significant manner 
      for an extended period of time, and also could materially adversely 
      affect our business and operating results; 
 
   -- industry changes resulting from vertical and horizontal consolidation 
      among our suppliers, competitors, and customers; and 
 
   -- the ability to successfully ramp up new programs that could be impacted 
      by factors beyond our control, including the availability of critical 
      third party components and performance of subcontractors in line with our 
      expectations.

Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of our business to differ materially and adversely from the forward-looking statements. Certain forward-looking statements can be identified by the use of forward looking terminology, such as "believes," "expects," "may, " "are expected to," "should," "would be," "seeks" or "anticipates" or similar expressions or the negative thereof or other variations thereof or comparable terminology, or by discussions of strategy, plans or intentions.

Some of these risk factors are set forth and are discussed in more detail in "Item 3. Key Information -- Risk Factors" included in our Annual Report on Form 20-F for the year ended December 31, 2020, as filed with the SEC on February 24, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. We do not intend, and do not assume any obligation, to update any industry information or forward-looking statements set forth in this release to reflect subsequent events or circumstances.

About STMicroelectronics

At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with more than 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at https://www.globenewswire.com/Tracker?data=JytOqxQYsIRrBnYC3lDsb8B8QjH5N_hAXoXNl8ZqKtvjZRV578sjm04XL0IdIW29gyUS-2qIY7DOVOn-IAq9NQ== www.st.com.

For further information, please contact:

INVESTOR RELATIONS:

Céline Berthier

Group VP, Investor Relations

Tel: +41 22 929 58 12

celine.berthier@st.com https://www.globenewswire.com/Tracker?data=PV1Efb2XVBwuAwtA3WlpkrkeUxad1xJ4D18P4vXpVrPQWBMn3O_Ck8apOvvTCE6oMXlv5sQozvFYBKPpFV3GLOO9IV75pN33D8r0S3DLGts=

MEDIA RELATIONS:

Alexis Breton

Corporate External Communications

Tel: + 33 6 59 16 79 08

https://www.globenewswire.com/Tracker?data=SOsAuNrU8GyHu6tONGVPEDN8uIf6MABSGfuPTbEv4dlk8ja7uNif3puEPsvoZhvCvCv2cL7a17uDo1vomzbmn6T9NhzBFPXeO-sdG2gcMIw= alexis.breton@st.com 


 
STMicroelectronics N.V. 
CONSOLIDATED STATEMENTS OF INCOME 
(in millions of U.S. dollars, except per share data 
 ($)) 
 
                                                                        Three months ended 
                                                                July 3,                   June 27, 
                                                                  2021                      2020 
                                                        ------------------------  ------------------------ 
                                                              (Unaudited)               (Unaudited) 
                                                        ------------------------  ------------------------ 
 
Net sales                                                                  2,985                     2,084 
Other revenues                                                                 7                         3 
NET REVENUES                                                               2,992                     2,087 
Cost of sales                                                            (1,780)                   (1,357) 
GROSS PROFIT                                                               1,212                       730 
Selling, general and administrative                                        (323)                     (259)

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