Q2 2026 Earnings

Operating metrics disclosed this quarter

Read from the filing itself — XBRL does not carry these, so no standard financial dataset has them.

• Cash Flow from Operations as a Percentage of Revenue

  44.6%

  Non-GAAP financial information This MD&A includes references to free cash flow and ratios based on that measure. These are financial measures that were not prepared in accordance with generally accepted accounting principles in the United States (GAAP). Free cash flow is calculated as cash flows from operating activities (also referred to as cash flow from operations) less capital expenditures, plus proceeds from CHIPS Act incentives. We believe that free cash flow and the associated ratios provide insight into our liquidity, our cash-generating capability and the amount of cash potentially available to return to shareholders, as well as insight into our financial performance. These non-GAAP measures are supplemental to the comparable GAAP measures. Reconciliation to the most directly comparable GAAP measures is provided in the table below. For 12 Months Ended June 30, 2026 | | | 2025 | | | Change Cash flow from operations (GAAP) * | | $ | | 8,667 | | | | $ | | 6,439 | | | | 35 | | % Capital expenditures | | (3,312) | | | | (4,936) Proceeds from CHIPS Act incentives | | 1,179 | | | | 260 Free cash flow (non-GAAP) | | $ | | 6,534 | | | | $ | | 1,763 | | | | 271 | | % Revenue | | $ | | 19,453 | | | | $ | | 16,675 Cash flow from operations as a percentage of revenue (GAAP) | | 44.6 | | % | | | 38.6 | | % Free cash flow as a percentage of revenue (non-GAAP) | | 33.6 | | % | | | 10.6 | | % * Includes cash benefits of $433 million and $479 million from the CHIPS Act ITC used to reduce income taxes payable for the twelve months ended June 30, 2026 and 2025, respectively.

• Free Cash Flow as a Percentage of Revenue

  33.6%

  Non-GAAP financial information This MD&A includes references to free cash flow and ratios based on that measure. These are financial measures that were not prepared in accordance with generally accepted accounting principles in the United States (GAAP). Free cash flow is calculated as cash flows from operating activities (also referred to as cash flow from operations) less capital expenditures, plus proceeds from CHIPS Act incentives. We believe that free cash flow and the associated ratios provide insight into our liquidity, our cash-generating capability and the amount of cash potentially available to return to shareholders, as well as insight into our financial performance. These non-GAAP measures are supplemental to the comparable GAAP measures. Reconciliation to the most directly comparable GAAP measures is provided in the table below. For 12 Months Ended June 30, 2026 | | | 2025 | | | Change Cash flow from operations (GAAP) * | | $ | | 8,667 | | | | $ | | 6,439 | | | | 35 | | % Capital expenditures | | (3,312) | | | | (4,936) Proceeds from CHIPS Act incentives | | 1,179 | | | | 260 Free cash flow (non-GAAP) | | $ | | 6,534 | | | | $ | | 1,763 | | | | 271 | | % Revenue | | $ | | 19,453 | | | | $ | | 16,675 Cash flow from operations as a percentage of revenue (GAAP) | | 44.6 | | % | | | 38.6 | | % Free cash flow as a percentage of revenue (non-GAAP) | | 33.6 | | % | | | 10.6 | | % * Includes cash benefits of $433 million and $479 million from the CHIPS Act ITC used to reduce income taxes payable for the twelve months ended June 30, 2026 and 2025, respectively.