GlobalFoundries Inc.

Thank you for standing by and welcome to the Global Foundries Inc. second quarter fiscal year 2026 financial results. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you'll need to press star 1-1 on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press star 1-1 again. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Eric Chow, Head of Investor Relations. Please go ahead, sir.

Thank you, Operator. Good morning, everyone, and welcome to Global Foundries' second quarter 2026 earnings call. On the call with me today are Tim Breen, CEO, and Sam Franklin, CFO. A short while ago, we released GF's second quarter 2026 financial results, which are available on our website at investors.gf.com along with today's accompanying slide presentation. This call is being recorded and replay will be made available on our investor relations webpage. During this call, we will present both IFRS and non-IFRS financial measures. The most directly comparable IFRS measures and reconciliations for non-IFRS measures are made available in today's press release and accompanying slides. Please note that these financial results are unaudited and subject to change. Certain statements on today's call may be deemed to be forward-looking statements. Such statements can be identified by terms such as believe, expect, intend, anticipate, and may, or by the use of the future tense. You should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements, and we do not undertake any obligation to update any forward-looking statements we make today. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today, as well as risks and uncertainties described in our SEC filings. including in sections under the caption risk factors in our annual report on form 20F and in any current reports on form 6K furnished with the SEC. In terms of upcoming events, we will be participating in a fireside chat at the Goldman Sachs Communicopia and Technology Conference in San Francisco on September 8th. We will begin today's call with Tim providing a summary update on the business environment and technologies, followed by Sam, who will provide details on our second quarter results and third quarter guidance. We will then open the call for questions with Tim and Sam. We request that you please limit your questions to one with one follow-up. I'll now turn the call over to Tim.

Thank you, Eric, and welcome everyone to our second quarter 2026 earnings call. GF delivered strong results in the second quarter, with revenue and non-IFRS profitability metrics at or above the high end of our guidance ranges. The team continued its rigorous execution, ramping critical technology corridors where we see accelerating customer demand and the opportunity to create and capture value. In particular, our comms infrastructure and data center end market delivered over 60% year-over-year growth in Q2. were all driven by continued demand for optical networking applications across our silicon photonics and silicon germanium platforms. This marked one of the fastest quarters of year over year revenue growth for an end market in our company history. We believe our value proposition has never been more in demand. Our differentiated technology portfolio and resilient global manufacturing footprint continue to strengthen our position with customers. We are seeing meaningful momentum as we execute our strategy and drive towards the long-term targets we shared at this year's Investor Day. Let me now update you on three key developments in the quarter that are accelerating our strategic path. One, quantum technology solutions. Two, optical networking and power opportunities in the AI data center. And three, IP software and custom silicon. Starting with quantum. A paradigm shift that will define the next chapter of high-performance computing over the coming decade and beyond. In May, we launched Quantum Technology Solutions, a new dedicated team and set of capabilities within GF that will enable the quantum industry to move from prototypes to high-volume production. Just as CPUs, GPUs, and AI ASICs define today's compute paradigm, we believe quantum processor units, or QPUs, will be an essential part of tomorrow's. Advanced semiconductor manufacturing built securely here in the U.S. will be essential for the scaling of this technology. Establishing the right production capability is now the critical enabler. The ability to manufacture and integrate complex quantum devices with consistency, yield, and scale. This is precisely where GF wins. Our quantum strategy is qubit agnostic, meaning our manufacturing platforms are expected to support a broad range of leading modalities, including superconducting, trapped ion, photonic, topological, and spin. Our proven platforms like FDX provide the cryogenic CMOS foundation, and we are extending our advanced packaging capabilities into the cryogenic regime to enable the 3D heterogeneous integration that these systems require. As highlighted in our recent announcements, we are working closely with eight of the world's leading quantum computing players, including partnerships with Psi Quantum, Quantinium, and Quantum Motion, as well as new endorsements from the quantum arms of large hyperscalers. Since launching just three months ago, we have already embarked on four new customer-specific quantum engagements with accelerating commercial momentum ahead. Advancing our quantum capabilities is anchored by an expected $375 million grant from the U.S. Department of Commerce to accelerate the research, development, and build out of quantum manufacturing capacity in the U.S. This critical partnership with the U.S. government underscores why quantum is not only a business opportunity, but also a national priority. We are only in the early stages of the nascent quantum opportunity. Over the next one to three years, we expect to generate quantum-related revenue largely through engineering engagements with customers reported within our technology services revenue. As customer platforms qualify and move into volume production, we expect quantum-related revenue from manufacturing services to ramp towards the end of the decade. Ultimately, our early momentum and customer proof points in this emerging area perfectly encapsulate the outsized value GF provides a strongly differentiated technology, deep customer partnerships, and a global secure manufacturing footprint. Let me turn to AI Data Center, where we continue to build momentum through new customer design wins and increasing engagement across the ecosystem. In the second quarter alone, we secured seven new optical networking design wins with customers across both pluggable transceiver suppliers, as well as major hyperscaler and networking players. Silicon Photonics and Silicon Germanium each play critical roles in optical networking systems and, combined with data center power, represent three high-quality long-term secular growth drivers which underscore our conviction in the ability to grow in the data center for years to come. I will walk through an update on each of these. For Silicon Photonics, let's start with pluggables, which contributes the vast majority of our Silicon Photonics revenue today. Thanks to our differentiated technology, and Advanced 300mm Photonics Manufacturing Footprint, we are actively engaged with four of the top five obstacle transceiver players. Given our strong capabilities and robust capacity ramp, we now expect our silicon photonics revenue, as reported within the comms infrastructure and data center end market, to more than double in 2026 compared with the year prior. Beyond just this year, we are progressing well on our multi-year roadmap to advance the enablement of modules delivering 1.6T, 3.2T and beyond. High volume manufacturing of our 200 gig per lane technology is underway. We have already demonstrated 400 gig capability and solutions for even greater bandwidth are in development. In addition to our robust pluggable offerings today, we see significant customer interest in our scale platform. The industry's first OCI MSA compatible solution for near and co-packaged optics. We currently have seven active engagements with leading companies on our scale platform and customer feedback on the merits of our technology and manufacturing capabilities has been very positive. We are already delivering tangible results for our customers today, having taped out a scale related design win in Q2 and we expect to take out another in Q3. Specifically for near-packaged optics, we see NPO as an important application and exciting opportunity ahead of the broader adoption of co-packaged solutions. Because near and co-packaged optics are built on a common photonic IC and because many components of GF scale solution support both near and co-packaged optics, our customers benefit from the same underlying platform. As a result, we expect GF to benefit from the silicon photonics opportunity Regardless of the rate and pace of various form factor adoptions by our customers. As we increase investments into our silicon photonics capabilities, the importance of government partnerships continues to grow. Last week, GS entered into a letter of intent with the U.S. Department of Commerce for a $300 million award to accelerate the development of next generation silicon photonics technologies in the U.S. The funding will support advanced optical materials, modulated technologies, and packaging innovations that will enable next generation near and co-packaged optics architectures, building directly on GS scale platform. The endorsement from our partners across the industry has reinforced our strategic conviction, including the world's top XPU providers, hyperscalers, AI connectivity leaders, and ecosystem partners. We are pleased to take a central role in advancing optical innovation and development in the US and believe this recognition validates the strategic importance of silicon photonics, the excellent relationship we enjoy with our partners and GS leadership in these technologies. Another driver of data center momentum is high performance silicon germanium, which powers the analog and mixed signal electronics at the heart of optical interconnects for AI and cloud infrastructure. Our differentiated SIGI platform delivers the bandwidth, signal integrity and Power Efficiency required for increasingly demanding optical networking applications, making it strongly complementary to our silicon photonics portfolio. During the quarter, we secured multiple new SIGI, TIA and driver design wins across networking customers. Demand for SIGI remains strong and we are oversubscribed throughout 2027. We are actively expanding capacity in our Vermont facility to support this demand. We believe CIGIE represents another key growth opportunity for GF. Combined with our leadership in silicon photonics, GF offers a uniquely differentiated set of technologies that help address the bandwidth, power efficiency, and signal integrity requirements of next generation AI systems. The momentum we are seeing today reinforces our belief that we will be a key leader in optical networking for years to come. The third strong opportunity we see in the AI data center relates to power. In July, we closed the strategic acqui-hire of the custom power team from Photion Technologies in Europe, bringing an experienced design team focused on integrated voltage regulators, or IVRs. Together with our BCD, GaN, and integrated inductor capabilities, IVR further strengthens our roadmap depth in power technologies and expands our serviceable market in one of the fastest growing opportunities within AI data centers. Our goal is to help enable a new power architecture for AI infrastructure, one that brings power conversion closer to the processor and addresses the increasing efficiency, power density, bandwidth, high current, and transient response requirements of next-generation XPUs. As AI workloads continue to scale, XPUs are consuming more power than ever before, increasing the need for solutions that can reduce power losses and deliver higher performance with an increasingly constrained thermal and physical footprints. Closed in Q2, this transaction brings new differentiated IVR technology, specialized engineering talent, and additional R&D capabilities that strongly complement our power portfolio, allowing us to capture a larger share of the growing power opportunity in AI data centers. Finally, moving to another key element of our long-term strategy, our IP, software, and custom silicon capabilities. In June, we completed our previously announced acquisition of Synopsys Arc Processor IP Solutions Business, an important milestone in advancing our strategy in physical AI and a notable step change in expanding GF's serviceable addressable market. As a recap, the strategic rationale is multifold. As AI increasingly moves beyond the data center into the physical world around us, It is transforming automotive, industrial automation, robotics, and intelligent edge devices. In that context, customers are looking for partners that can help them navigate the growing complexity of software, compute architectures, and semiconductor design. Together with MIPS, this acquisition bolsters GF's capabilities across RISC-V processor IP, software development tools, and custom silicon design. enabling us to support customers from architecture and software through high volume silicon production. We acquired a broad set of CPU, DSP, NPU and broader RISC-V technologies, as well as a proven software development toolkit and application-specific processor design capabilities. With over 150 patents, 300 existing customers and 400 R&D engineers around the world, This acquisition meaningfully expands our ecosystem reach and depth. Importantly, we are already seeing significant strategic benefits from our acquisition. By combining MIPS and Synopsys Arc under one roof, we are engaging with more customers earlier in the design cycle, shaping application-specific compute architectures and creating deeper, longer-lasting customer partnerships. To accelerate customer enablement, we are increasing investment in a number of R&D initiatives, These are focused high return programs that position us to capitalize on expanding opportunities while helping our customers innovate faster. Over time, we believe this creates a pathway to greater custom silicon opportunities and enabling physical AI customers to run their AI inference workloads on GF and MIPS based processing platforms. In summary, we made meaningful progress across several strategic growth areas this quarter. We delivered a record quarter for design wins across both communications infrastructure and data center and smart mobile devices in differentiated areas such as display backplanes for AI glasses, PIMX for premium smartphones, and smart power stage gate drivers for data center power. Our differentiated capabilities are helping customers solve increasingly complex challenges while positioning GF as a trusted technology partner. We are making critical investments and integrating strategic acquisitions that strengthen our competitive position, diversify our growth drivers, and provide a durable foundation for long-term profitable growth. I am proud of the team's diligent execution this quarter and excited about the opportunities ahead. I'll now pass the call over to Sam for a deeper dive on second quarter 2026 financials.