GFS Global Foundries Inc

ElevATE Semiconductor and GlobalFoundries (Nasdaq: GFS) (GF) today announced a manufacturing partnership for high-voltage chips produced at GF’s facility in Essex Junction, Vermont. Designed by ElevATE and manufactured at scale by GF on its proven and power-efficient 7HV technology platform, the chips are vital to both commercial semiconductor testing equipment and critical applications for aerospace and defense systems.

The agreement outlines GF’s supply of its 7HV chip technology to ElevATE and the marketplace. Manufactured on 200mm wafers at GF’s Vermont facility, the mature-node chips pair power management and wireless sensing capabilities, delivering the performance, design flexibility and power efficiency required by a range of electronics devices in national security systems. The 7HV platform is optimized for cost and performance, and offers a full suite of features and options with well-characterized design tools, as well as proven manufacturing reliability with robust yields.

To meet the demands of commercial clients and the aerospace and defense industry, ElevATE and GF are collaborating to provide restart support and reestablish the production of 7HV chips. The renewed availability of the 7HV platform will save customers costs, time, and the challenge of redesigning their products using a different chip technology. The new supply will build upon the success of the millions of 7HV chips previously manufactured at GF’s Vermont facility.

“This collaboration marks a significant transformation in ElevATE's production strategy, transitioning its fabrication processes to GlobalFoundries,” said Anil Kodali, Vice President of Operations and Quality Assurance at ElevATE. “With GF as our manufacturing partner, we can be sure of a robust and reliable source of supply, enabling us to meet the escalating demands of our customers in terms of volume, quality and time-to-market.”

“Our collaboration with ElevATE underscores GF’s commitment to ensuring the U.S. semiconductor and national security ecosystems have a reliable supply of secure, domestically manufactured chips,” said Nicholas Sergeant, vice president and head of the aerospace, defense and critical infrastructure business at GF. “As the leading supplier of essential chips for the U.S. aerospace and defense industry and a longstanding partner to the Department of Defense, GF goes above and beyond to ensure our national security customers have the chips they need, manufactured where they want them, with the right level of security.”

GF’s facility in Essex Junction, Vermont, near Burlington, was among the first major semiconductor manufacturing sites in the United States. Today, around 1,800 GF employees work at the site. Built on GF’s differentiated technologies, these GF-made chips are used in smartphones, automobiles, and communications infrastructure applications around the world. The facility is a DMEA-accredited Trusted Foundry and manufactures secure chips in partnership with the U.S. government.

About ElevATE Semiconductor

ElevATE Semiconductor is a leader in the global semiconductor manufacturing industry, offering cutting-edge semiconductor test and ATE solutions. The company is committed to supporting the semiconductor and system test community by providing advanced integrated circuits (ICs) that address the complex challenges of ATE. With a focus on designing efficient, high-density solutions, ElevATE Semiconductor aims to reduce the overall cost of testing for its customers, both now and in the future. Visit www.elevatesemi.com.

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners.

Forward-looking Information

This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Media Contacts:ElevATE SemiconductorTim Bakken, Vice President of Global Salestim.bakken@ElevATEsemi.com

GlobalFoundriesMichael Mullaneymichael.mullaney@gf.com