Market Newsdesk

MILAN and NAPLES, Italy, July 23, 2026 (GLOBE NEWSWIRE) — Sòphia High Tech S.r.l. (Sòphia HT), an Italian aerospace and defense company manufacturing critical parts for Europe’s space and defense programs, backed by Genenta Science S.p.A. (Nasdaq: GNTA) — evolving into Saentra Forge¹, a strategic industrial consolidator focused on aerospace, defense, biotech and Italian national-security-related technologies — today announced the unveiling of ROMAN, a robotic arm engineered to perform inspection and maintenance operations inside a nuclear fusion machine. Sòphia HT and its partners Department of Industrial Engineering (DII) and Herobots designed, developed, produced, assembled, tested and integrated the manipulator ROMAN units for two facilities: the DII of the University Federico II and to Consorzio RFX².

ROMAN demonstrates Sòphia HT’s ability to engineer systems for environments where humans cannot operate and failure is not an option. Designed for RFX-mod2, a nuclear fusion research machine in which plasma can reach approximately 20 million °C, ROMAN remotely inspects and maintains the machine’s innermost wall. Its custom-built tool can identify, remove and reinstall individual graphite tiles, as well as perform visual inspection and cleaning operations.

ROMAN is the result of a close collaboration between Sòphia HT, Herobots – a technology partner specialized in robotics and automation for safety-critical applications – the DII and Consorzio RFX. Within the project, Sòphia HT led the development, manufacturing, assembly, testing, and integration of the ROMAN manipulators, working closely with all partners throughout the definition, validation, and refinement of the solution. The partners worked closely throughout the definition, validation, and refinement of the solution.

The project extends Sòphia HT’s proven precision-engineering capabilities—from critical components for rockets, satellites and defense systems—into nuclear technology and energy infrastructure, while leveraging the robotics expertise for hazardous and challenging environments of the DII and Herobots team. This provides Sòphia HT with a new strong reference capability for future applications in another highly regulated, mission-critical market and supports Genenta’s strategy of building an industrial platform across sectors central to national technological sovereignty.

“

Delivering with our partners ROMAN took Sòphia HT into the nuclear domain for the first time, and our team met that challenge with the same rigor we apply to space-flight hardware.

Developing a manipulator that can operate safely and repeatably inside RFX-mod2 required custom mechanics, a purpose-built end-effector and extensive qualification. It is a proud milestone for our engineers and PhDs, and, together with Genenta, it opens a new avenue of growth for the company,” said

Domenico Borrelli, CTO of Sòphia HT.

“

ROMAN is exactly the kind of capability that makes Sòphia HT irreplaceable. The same mastery of precision mechanics that lets this company 3D-print flight-ready space hardware now allows it to manufacture the mechanical systems of advanced robotic platforms operating where no human can go — inside a nuclear fusion machine.

It is a powerful demonstration of how deep-tech know-how developed for space and defense translates directly into the technologies that will underpin energy independence. This is the model we are building: keeping critical industrial know-how in Italy, and letting it compound across the sectors that define national economic security,” said

Pierluigi Paracchi, CEO of Genenta.

<sup>1 The name change from Genenta Science S.p.A. to Saentra Forge S.p.A. is subject to shareholder approval.

2 https://www.igi.cnr.it/en/about-us/</sup>

About Genenta Science

Genenta Science (Nasdaq: GNTA) is evolving into a next-generation strategic consolidator focused on privately held specialized companies operating in Italian national security-regulated sectors, with activities spanning cybersecurity, defense, aerospace, and biotechnology/biosecurity. Genenta holds a 19% equity interest in Sòphia High Tech and has an option to increase its ownership to 51% at a pre-agreed valuation.

About Sòphia High Tech

Sòphia High Tech S.r.l. is an Italian aerospace and defense engineering and manufacturing company, headquartered in Somma Vesuviana (Naples). At its core, Sòphia HT builds the critical mechanical components of space and defense systems — the precision parts that hold rockets together, protect satellites in orbit, and allow aircraft to perform under extreme stress. The company covers the entire product lifecycle, from initial concept design and computer simulation, through prototyping and manufacturing, all the way to final testing, assembly, and qualification for flight. What sets Sòphia HT apart is its mastery of advanced manufacturing techniques — including state-of-the-art metal 3D printing (Selective Laser Melting), CNC precision machining and multitasking, and the ability to work with some of the most demanding exotic materials in the industry, including titanium, Inconel, tungsten, and specialized copper alloys. Certified to the EN9100 aerospace quality standard and to ECSS-Q-ST-70-80C, the ESA specification for additive manufacturing, Sòphia HT is one of the very few companies in Europe qualified to 3D-print flight-ready space hardware to ESA and NASA standards. With over 530 advanced projects completed, Sòphia HT serves leading European aerospace and defense organizations, including ESA, AVIO, Thales Alenia Space, Leonardo, MBDA, GSSI, and D-Orbit.

Forward-Looking Statements. Statements in this press release contain “forward-looking statements,” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that are subject to substantial risks and uncertainties. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Genenta’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict, including risks related to the transition to Saentra Forge, the expansion to a sovereign-aligned industrial consolidator. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in Genenta’s Annual Report on Form 20-F for the year ended December 31, 2025, and Genenta’s material disclosures on Form 6-K dated October 10, 2025, January 26, 2026, as well as other Form 6-K disclosures filed with the Securities and Exchange Commission. Forward-looking statements contained in this document are made as of the date of this announcement, and Genenta undertakes no duty to update such information except as required under applicable law.

Genenta Science Media
Tiziana Pollio, Mobile: +39 348 23 15 143
email: [email protected]

AMSTERDAM and PHILADELPHIA, July 23, 2026 (GLOBE NEWSWIRE) — Akzo Nobel N.V. (“AkzoNobel”) and Axalta Coating Systems Ltd. (“Axalta”) today announced enhancements to the proposed governance arrangements for the combined company following completion of their pending merger of equals.

Since announcing the proposed all-share merger of equals and convening of the AkzoNobel EGM and Axalta SGM, AkzoNobel and Axalta have engaged extensively with shareholders and other stakeholders on the governance of the combined company. That dialogue has led to the following refinements:

• Annual re-election of all Directors following the initial three-year period after completion (previously contemplated following a five-year period after completion); and
• Approval threshold applicable during the initial three-year period after completion of two-thirds of Non-Executive Directors (previously contemplated as 75%) for (i) any proposal to the general meeting regarding the appointment and dismissal of Directors, (ii) the appointment and removal of the CEO, Deputy CEO and CFO, (iii) designation of the Chair and Vice Chair titles and (iv) amendments to the remuneration policy.

Rakesh Sachdev, Chair of the Axalta Board of Directors, stated, “We are pleased to announce these governance enhancements following constructive engagement with our shareholders. We believe these changes reinforce our commitment to strong corporate governance and effective Board oversight while further strengthening the governance framework of the combined company. We appreciate the feedback we’ve received throughout this process and remain confident that this combination will create a premier global coatings company that delivers significant long-term value for all shareholders.”

Ben Noteboom, Chairman of the Supervisory Board of AkzoNobel, said: “We have listened thoughtfully to our shareholders and believe these changes reflect the spirit of partnership and accountability that will define the combined company from day one. We are grateful for the constructive engagement that has shaped these improvements, which further align the governance of the combined company with the interests of all shareholders and other stakeholders.”

These governance enhancements do not require any changes to the proposed Articles of Association of the combined company. As a result, the AkzoNobel EGM and Axalta SGM planned for August 5, 2026 are proceeding as planned, with the existing agenda items unaffected.

This is a public announcement by Akzo Nobel N.V. and Axalta pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).

About AkzoNobel


Since 1792, we’ve been supplying the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity. It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing more sustainable solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future together.

About Axalta


Axalta is a global leader in the coatings industry, providing customers with innovative, colorful, beautiful and sustainable coatings solutions. From light vehicles, commercial vehicles and refinish applications to electric motors, building facades and other industrial applications, our coatings are designed to prevent corrosion, increase productivity and enhance durability. With more than 150 years of experience in the coatings industry, the global team at Axalta continues to find ways to serve our more than 100,000 customers in over 140 countries better every day with the finest coatings, application systems and technology. For more information visit axalta.com and follow us on LinkedIn.

Not for publication – for more information AkzoNobel Media Relations	AkzoNobel Investor Relations
T +31 (0)88 – 969 7833 Contact: Diana Abrahams [email protected]	T +31 (0)88 – 969 0139 Contact: Jan Willem Enhus [email protected]
Axalta Media Relations	Axalta Investor Relations
T +31 (0)88 – 969 7833 Contact: Patricia Morschel [email protected]	T +1 (610) 999-9407 Contact: Colleen Lubic [email protected]

Safe Harbor Statement

This media release contains statements which address such key issues as AkzoNobel’s growth strategy, future financial results, market positions, product development, products in the pipeline and product approvals. Such statements should be carefully considered, and it should be understood that many factors could cause forecast and actual results to differ from these statements. These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative, fiscal, and other regulatory measures, as well as significant market disruptions. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies. For a more comprehensive discussion of the risk factors affecting our business, please see our latest annual report.

Important Information Regarding the Proposed Axalta Transaction

General Restrictions

This communication is not for release, publication, or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication, or distribution would be unlawful.

This communication is not a prospectus and the information in this communication is not intended to be complete. This communication is for informational purposes only and is not intended to be and shall not constitute a solicitation of any vote or approval, or an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or an invitation or recommendation to subscribe for, acquire or buy securities of AkzoNobel or Axalta or any other financial products or securities, in any place or jurisdiction, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended (the “Securities Act”).

Any decision to purchase, subscribe for, otherwise acquire, sell or otherwise dispose of any securities must be made only on the basis of the information contained in and incorporated by reference into the prospectus with respect to the shares to be allotted by AkzoNobel in the proposed transaction, which was published on June 24, 2026. 

The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, AkzoNobel and Axalta disclaim any responsibility or liability for the violation of any such restrictions by any person. Neither AkzoNobel, nor Axalta, nor any of their advisors assume any responsibility for any violation by any person of any of these restrictions. Shareholders of AkzoNobel and Axalta, respectively, with any doubt as to their position should consult an appropriate professional advisor without delay.

This communication is addressed to and directed only at, persons who are outside the United Kingdom or, in the United Kingdom, at persons who are: (i) persons having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (ii) persons falling within Article 49(2)(a) to (d) of the Order, or (iii) persons to whom it may otherwise lawfully be communicated pursuant to the Order (all such persons together being referred to as, “Relevant Persons”). This communication is directed only at Relevant Persons. Other persons should not act or rely on this communication or any of its contents.   Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with such persons. Solicitations resulting from this communication will only be responded to if the person concerned is a Relevant Person.

Additional Information and Where To Find It

In connection with the proposed transaction between AkzoNobel and Axalta, AkzoNobel filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form F-4 on May 27, 2026, as amended on June 18, 2026, which included a proxy statement of Axalta that also constitutes a prospectus with respect to the shares to be offered by AkzoNobel in the proposed transaction. The registration statement was declared effective by the SEC on June 23, 2026. In connection with the proposed transaction, on June 24, 2026, Axalta filed with the SEC a definitive proxy statement and, on or about June 24, 2026, Axalta commenced mailing the definitive proxy statement to its holders of record as of June 11, 2026. Each of AkzoNobel and Axalta will also file other relevant documents in connection with the proposed transaction. This communication is not a substitute for any registration statement, proxy statement/prospectus or other documents AkzoNobel and/or Axalta may file with the SEC or any other competent regulator in connection with the proposed transaction. This communication does not contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any investment decision or any other decision in respect of the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISIONS, INVESTORS, STOCKHOLDERS AND SHAREHOLDERS OF AKZONOBEL AND AXALTA ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS, AS APPLICABLE, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT AKZONOBEL, AXALTA, THE PROPOSED TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other relevant documents filed by AkzoNobel and Axalta with the SEC are available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders are able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC from Axalta’s investor relations webpage at https://ir.axalta.com/sec-filings/all-sec-filings or from AkzoNobel’s investor relations webpage at https://www.akzonobel.com/en/investors/all-sec-filings.

The contents of this communication should not be construed as financial, legal, business, investment, tax or other professional advice. Each recipient should consult with its own professional advisors for any such matter and advice.

Participants in the Solicitation

This communication is not a solicitation of proxies in connection with the proposed transaction. However, under SEC rules, AkzoNobel, Axalta and certain of their respective directors and executive officers and other members of their respective management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests in the proposed transaction, by security holdings or otherwise, is set forth in the definitive proxy statement/prospectus relating to the proposed transaction, which was filed with the SEC on June 24, 2026. Information about AkzoNobel’s supervisory board members and members of the board of management is set forth in AkzoNobel’s latest annual report, as filed with the AFM, the Dutch trade register and on its website at https://www.akzonobel.com/en/investors/results-center, and as updated from time to time via filings made by AkzoNobel with the AFM. Additional information regarding the interests of persons who may, under the rules of the SEC, be deemed participants in the solicitation of Axalta security holders in connection with the proposed transaction, which may, in some cases, be different than those of Axalta’s shareholders generally, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant materials when they are filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Cautionary Statement Concerning Forward-Looking Statements

This communication contains forward-looking statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, regarding, among other things, statements about management’s expectations of AkzoNobel’s and Axalta’s future operating and financial performance, product development, market position, and business strategy. Such forward-looking statements can sometimes be identified by the use of forward-looking terms such as “believes,” “expects,” “may,” “will,” “shall,” “should,” “would,” “could,” “potential,” “seeks,” “aims,” “projects,” “predicts,” “is optimistic,” “intends,” “plans,” “estimates,” “targets,” “anticipates,” “continues” or other comparable terms or negatives of these terms, but not all forward-looking statements include such identifying words. You are cautioned not to rely on these forward-looking statements. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. We can give no assurance that such plans, estimates or expectations will be achieved and therefore, actual results may differ materially from any plans, estimates or expectations in such forward-looking statements. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include: a condition to the closing of the proposed transaction may not be satisfied; the occurrence of any event that can give rise to termination of the proposed transaction; a regulatory approval that may be required for the proposed transaction is delayed, is not obtained or is obtained subject to conditions that are not anticipated; AkzoNobel and Axalta are unable to achieve the synergies and value creation contemplated by the proposed transaction; AkzoNobel and Axalta are unable to promptly and effectively integrate their businesses; management’s time and attention is diverted on transaction related issues; the possibility that competing offers or acquisition proposals may be made; disruption from the proposed transaction makes it more difficult to maintain business, contractual and operational relationships; the credit ratings of AkzoNobel or Axalta decline following the proposed transaction; legal proceedings are instituted against AkzoNobel or Axalta, including resulting expense or delay; AkzoNobel or Axalta is unable to retain or hire key personnel; the communication or the consummation of the proposed acquisition has a negative effect on the market price of the capital stock of AkzoNobel or Axalta or on AkzoNobel’s or Axalta’s operating results; evolving legal, regulatory and tax regimes; changes in economic, financial, political and regulatory conditions, in the Netherlands, the United States and elsewhere, and other factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics (e.g., the coronavirus (COVID-19) pandemic), geopolitical uncertainty, and conditions that may result from legislative, regulatory, trade and policy changes associated with the current or subsequent United States or Netherlands administration; the ability of AkzoNobel or Axalta to successfully recover from a disaster or other business continuity problem due to a hurricane, flood, earthquake, terrorist attack, war, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made event, including the ability to function remotely during long-term disruptions; the impact of public health crises, such as pandemics and epidemics and any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or actions to maintain the functioning of national or global economies and markets, including any quarantine, “shelter in place,” “stay at home,” workforce reduction, social distancing, shut down or similar actions and policies; actions by third parties, including government agencies; the risk that disruptions from the proposed transaction will harm AkzoNobel’s or Axalta’s business, including current plans and operations and/or divert management’s attention from AkzoNobel’s or Axalta’s ongoing business operations; certain restrictions during the pendency of the acquisition that may impact AkzoNobel’s or Axalta’s ability to pursue certain business opportunities or strategic transactions; AkzoNobel’s or Axalta’s ability to meet expectations regarding the accounting and tax treatments of the proposed transaction; the risks and uncertainties discussed in AkzoNobel’s latest annual report as filed with the AFM, the Dutch trade register and on its website at https://www.akzonobel.com/en/investors/results-center; and the risks and uncertainties discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in Axalta’s reports filed with the SEC. These risks, as well as other risks associated with the proposed transaction, are more fully discussed in the proxy statement/prospectus. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are not guarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of new markets or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this communication. Except as required by law, neither AkzoNobel nor Axalta assumes any obligation to update or revise the information contained herein, which speaks only as of the date hereof.

Paris, France and New York, USA , July 23, 2026 (GLOBE NEWSWIRE) —

• Alyssa Levin appointed to Board of Directors and as Chair of the Audit Committee
• Clara Cambon-Thiebaud joins as VP, Regulatory Affairs
• Céline Breda joins as VP, Chemistry, Manufacturing and Controls (CMC)

Paris, France and New York, USA, July 23, 2026 – Cyllene Therapeutics (“Cyllene Tx”), the global leader in non-replicating HSV-1 (nrHSV-1) vector technology in neurology, today announced the appointment of Alyssa Levin to its Board of Directors, where she will also serve as Chair of the Audit Committee. The company has also strengthened its leadership team with two key additions. Clara Cambon-Thiebaud joins as Vice President, Regulatory Affairs, based in New York, and Céline Breda as Vice President, Chemistry Manufacturing and Controls (CMC). This leadership team expansion comes as Cyllene Tx advances its lead candidate, EG110A, towards late-stage clinical development for neurogenic bladder-related incontinence.

“Building a world-class leadership team is essential as we advance Cyllene Tx into its next phase of growth,” said Philippe Cambon, MD, PhD, Co-Founder and Chief Executive Officer of Cyllene Tx. “These appointments strengthen our existing team by adding the late-stage expertise and experience necessary to meet our upcoming corporate goals. Alyssa brings exceptional financial leadership and public company expertise, including significant experience in capital markets, strategic transactions, and corporate governance. Clara is a highly accomplished regulatory leader with deep global expertise in advancing innovative therapies from early development through approval. Céline has dedicated her career to the manufacturing of biologics both in biopharma companies and contract development and manufacturing organizations (CDMOs). Together, they give us the depth needed to execute on our strategy and move our pipeline forward.”

Ms. Levin is a seasoned biotechnology finance executive with more than 15 years of experience leading financial strategy, capital markets, mergers and acquisitions, and operational growth across both public and private life sciences companies. She has raised more than $500 million through financings, led transformative corporate transactions, and built high-performing finance organizations while developing strong relationships across the investor, banking, and biopharmaceutical communities.

She currently serves as Chief Financial Officer of Radionetics Oncology, a clinical-stage radiopharmaceutical company operating under a strategic agreement with Eli Lilly, where she leads finance, legal, and people operations. She previously served as Chief Financial and Business Officer at Nkarta (Nasdaq: NKTX), where she was instrumental in a $240 million follow-on public offering, Chief Financial Officer of ViaCyte, co-leading the company’s $320 million acquisition by Vertex Pharmaceuticals, and held CFO positions at Tentarix Biotherapeutics and Bird Rock Bio. Ms. Levin began her career in audit and capital markets advisory at PwC LLP and The Siegfried Group and is a Chartered Professional Accountant (Canada).

“I am honored to join the Cyllene Tx Board as the company builds toward its next phase of growth. With EG110A advancing and the clinical pipeline expanding, I look forward to working with the Board and management team to help bolster the financial and governance infrastructure a company at this stage needs,” said Ms. Levin.

Ms. Cambon-Thiebaud joins Cyllene Tx as Vice President, Regulatory Affairs, bringing more than 15 years of global regulatory leadership spanning multiple therapeutic modalities and all phases of drug development. Throughout her career, she has contributed to more than 30 development programs from preclinical research through successful regulatory filings and product approvals. A French-trained pharmacist based in the United States, Ms. Cambon-Thiebaud began her career at Genentech before establishing a successful regulatory consulting practice focused on supporting innovative biotechnology companies. She has advised clients on global regulatory strategy, filing readiness, regulatory organization development, and Health Authority interactions, helping companies design differentiated development strategies and successfully navigate complex regulatory pathways to bring important new therapies to patients.

“I am delighted to join Cyllene Tx at such an exciting time and especially look forward to working with Regulators globally on the strategy to advance our lead program EG110A and, more broadly, our HERMES platform to address important medical needs,” said Ms. Cambon-Thiebaud.

Ms. Breda joins Cyllene as Vice President, Chemistry, Manufacturing and Controls (CMC). She is a seasoned biopharmaceutical executive with more than 25 years of experience leading CMC strategy, pharmaceutical development and manufacturing operations for innovative biologics. Throughout her career, she has played a key role in advancing vaccines, viral vectors and other complex biological products from development into clinical manufacturing. Recognized for her scientific rigor and operational leadership, she brings extensive expertise in process development, technology transfer, GMP manufacturing, external network management and global CMC strategy.

“EG110A represents a real opportunity to improve patients’ lives, and I’m looking forward to building the CMC strategy that will carry it through the next phase of clinical manufacturing and beyond. Cyllene Tx is building a very talented team, and I’m glad to be joining at this important stage,” said Ms. Breda.

About Cyllene Therapeutics

Cyllene Therapeutics is the global leader in non-replicating HSV-1 (nrHSV-1) vector technology in neurology. Cyllene Tx is currently executing a Phase 1/2 study in the US with its lead DNA medicine candidate, EG110A, in patients with neurogenic detrusor overactivity (neurogenic bladder)-related incontinence. This is the first human study with nrHSV vectors targeting sensory neuron-based diseases. EG110A is being developed to address multiple severe bladder diseases, including overactive bladder (OAB), and has the potential to be a major improvement over existing therapies, resulting in better care for patients and lower costs for healthcare systems. The company’s unique HERMES platform delivers pinpoint neurotherapeutics to treat prevalent diseases of the peripheral and central nervous system. Its vectors can achieve focal transduction and then selective expression of transgenes in targeted subsets of neurons. With demonstrated clinical safety and possible repeat dosing, the large payload capacity of nrHSV-1 vectors allows for versatile DNA delivery and smarter DNA medicine.

For more information      www.cyllene-tx.com        www.linkedin.com/company/cyllene-tx

Contacts

Company: Cyllene Therapeutics                                                                   

Philippe Chambon, M.D., Ph.D.,
Founder, Chaiman and CEO 
[email protected]

Media Relations: Rose Piquante Consulting

Sophie Baumont
[email protected]
+33 627 74 7449

 

PR No: C3403C

STMicroelectronics Reports Q2 2026 Financial Results

• Q226 net revenues at $3.49 billion
• Gross margin at 34.8% (n
  on-U.S.
  GAAP
  
  ¹
  
  gross margin at 35.2%)
• Operating income at $187 million (non-U.S. GAAP
  
  ¹
  
  operating income at $269 million)
• Business outlook at mid-point: Q326 net revenues of $3.70
  billion and gross margin of
  37.0
  %

Geneva, July 23, 2026 – STMicroelectronics N.V. (“ST”) (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, reported U.S. GAAP financial results for the second quarter ended June 27, 2026. This press release also contains non-U.S. GAAP measures (see Appendix for additional information).

ST reported second quarter net revenues of $3.49 billion, gross margin of 34.8%, operating income of $187 million, and net income of $222 million or $0.24 diluted earnings per share (non-U.S. GAAP¹ gross margin of 35.2%, non-U.S. GAAP¹ operating income of $269 million, and non-U.S. GAAP¹ net income of $291 million or $0.31 diluted earnings per share).

Jean-Marc Chery, ST President & CEO, commented:

• “Q2 net revenues came above the mid-point of our business outlook range, driven by higher revenues in CECP and Automotive
  .
  Gross margin was in line with
  the mid-point of our business outlook range.
  ”
• “On a year-over-year basis, Q2 net revenues increased 26.0%
  .
  Q2 gross margin was 34.8%, operating margin was 5.4% and net income was $222 million. On a non-U.S.
  GAAP
  
  ¹
  
  basis
  gross margin was 35.2%, operating margin was 7.7% and net income was $291 million.”
• “During the quarter demand increased further, with strong bookings in all end markets. We saw improved visibility and signs of tight supply in several product categories. Inventory in distribution is now below our standard target.”
• “Our third quarter business outlook, at the mid-point, is for net revenues of $3.70 billion, increasing about 6.2% sequentially and about 16.2% year-over-year. Gross margin is expected to be about 37.0%, including about 70 basis points of unused capacity charges.”
• “We anticipate a revenue growth acceleration in Q4, mainly driven by our engaged customer programs in AI datacenters and LEO satellite communication. We expect Q4 revenues to be above $4 billion, this translates into a H2 vs H1 growth above our normal 15% seasonality.”
• “Driven by continued strong demand in AI datacenters, we are raising our revenue ambition for datacenters. Revenues are now expected above $1 billion in 2026 and, assuming the current dynamic continues and with the current engagements we have, well above $2 billion in 2027. This confirms
  ST’s strong position in the evolving AI datacenters.”

Quarterly Financial Summary

U.S. GAAP (US$ m, except per share data)	Q2 2026	Q1 2026	Q2 2025	Q/Q	Y/Y
Net Revenues	$3,487	$3,095	$2,766	12.7%	26.0%
Gross Profit	$1,215	$1,045	$926	16.3%	31.1%
Gross Margin	34.8%	33.8%	33.5%	100bps	130bps
Operating Income (Loss)	$187	$70	$(133)	165.5%	–
Operating Margin	5.4%	2.3%	-4.8%	310bps	1,020bps
Net Income (Loss)	$222	$37	$(97)	496.8%	–
Diluted Earnings Per Share	$0.24	$0.04	$(0.11)	500.0%	–
Non-U.S. GAAP 1 (US$ m, except per share data)	Q2 2026	Q1 2026	Q2 2025	Q/Q	Y/Y
Gross Profit	$1,229	$1,056	$926	16.4%	32.7%
Gross Margin	35.2%	34.1%	33.5%	110bps	170bps
Operating Income	$269	$171	$57	57.3%	371.9%
Operating Margin	7.7%	5.5%	2.1%	220bps	560bps
Net Income	$291	$122	$57	138.5%	410.5%
Diluted Earnings Per Share	$0.31	$0.13	$0.06	138.5%	416.7%

Second Quarter 2026 Summary Review

Net Revenues by Reportable Segment 2 (US$ m)	Q2 2026	Q1 2026	Q2 2025	Q/Q	Y/Y
Analog products, MEMS and Sensors (AM&S) segment	1,426	1,318	1,133	8.2%	26.0%
Power and discrete products (P&D) segment	464	389	447	19.2%	3.7%
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group	1,890	1,707	1,580	10.7%	19.6%
Embedded Processing (EMP) segment	1,147	975	847	17.7%	35.5%
RF Optical Communications (RFOC) segment	445	409	336	8.6%	32.0%
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group	1,592	1,384	1,183	15.0%	34.5%
Others	5	4	3	–	–
Total Net Revenues	$3,487	$3,095	$2,766	12.7%	26.0%

Net revenues
totaled $3.49 billion, representing a year-over-year increase of 26.0%. Year-over-year net sales to OEMs and Distribution increased 23.3% and 33.1%, respectively. On a sequential basis, net revenues increased 12.7%, 110 basis points better than the mid-point of ST’s guidance.

Gross profit
totaled $1.22 billion, representing a year-over-year increase of 31.1%. Gross margin of 34.8%, increased 130 basis points year-over-year, mainly due to lower unused capacity charges and better product mix. Non-U.S. GAAP¹ gross margin was 35.2%, in line with the mid-point of ST’s guidance.

Operating income
increased from an operating loss of $133 million in the year-ago quarter to an operating income of $187 million. ST’s operating margin increased on a year-over-year basis to 5.4% of net revenues, compared to negative 4.8% operating margin in the second quarter of 2025. Operating income included $58 million impairment, restructuring charges and other related phase-out costs for the quarter, mainly reflecting charges related to the execution of the previously announced company-wide program to reshape our manufacturing footprint and resize our global cost base and $24 million PPA effects from the acquisition of NXP’s MEMS sensor business. Excluding these items, non-U.S. GAAP¹ Operating income stood at $269 million in the second quarter (or 7.7% non-U.S. GAAP¹ operating margin).

By reportable segment, compared with the year-ago quarter:

In Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group:

Analog products, MEMS and Sensors (AM&S)² segment:

• Revenue increased 26.0% mainly due to Imaging and MEMS and, to a lesser extent, Analog.   
• Operating profit increased by 69.2% to $144 million. Operating margin was 10.1% compared to 7.5%.

Power and Discrete products (P&D) segment:

• Revenue increased 3.7%.
• Operating result decreased from a loss of $56 million to a loss of $99 million. Operating margin was -21.4% compared to -12.5%.

In Microcontrollers, Digital ICs and RF products (MDRF) Product Group:

Embedded Processing (EMP) segment:

• Revenue increased 35.5% mainly due to General Purpose MCU and, to a lesser extent, Custom Processing and Connected Security.
• Operating profit increased by 97.8% to $226 million. Operating margin was 19.7% compared to 13.5%.

RF Optical Communications (RFOC) segment:

• Revenue increased 32.0%.
• Operating profit increased by 56.3% to $94 million. Operating margin was 21.2% compared to 17.9%.

Net income
and diluted Earnings Per Share increased to $222 million and $0.24 respectively, compared to a net loss of $97 million and a negative $0.11 respectively in the year-ago quarter. In the second quarter of 2026 non-U.S. GAAP¹ Net income stood at $291 million and non-U.S. GAAP¹ diluted Earnings Per Share stood at $0.31.

Cash Flow and Balance Sheet Highlights

				Trailing 12 Months
(US$ m)	Q2 2026	Q1 2026	Q2 2025	Q2 2026	Q2 2025	TTM Change
Net cash from operating activities	502	534	354	2,259	2,332	-3.1%
Free cash flow (non-U.S. GAAP1)	75	(723)2	(152)	(261)	142	-283.8%

Net cash from operating activities was $502 million in the second quarter, after approximately $44 million outflow related to restructuring, compared to $354 million in the year-ago quarter.

Net Capex (non-U.S. GAAP¹), was $409 million in the second quarter compared to $465 million in the year-ago quarter.

Free cash flow (non-U.S. GAAP¹) was positive at $75 million in the second quarter compared to negative $152 million in the year-ago quarter.

Inventory at the end of the second quarter was $3.19 billion, compared to $3.17 billion in the previous quarter and $3.27 billion in the year-ago quarter. Days sales of inventory at quarter-end was 126 days, compared to 140 days for the previous quarter and 166 days for the year-ago quarter.

In the second quarter, ST paid cash dividends to its stockholders totaling $75 million.

ST’s net financial position (non-U.S. GAAP³) remained strong at $2.01 billion as of June 27, 2026, compared to $2.00 billion as of March 28, 2026, and reflected total liquidity of $6.03 billion and total financial debt of $4.02 billion. Adjusted net financial position (non-U.S. GAAP¹), taking into consideration the effect on total liquidity of advances from capital grants for which capital expenditures have not been incurred yet, stood at $1.70 billion as of June 27, 2026.

During the quarter, ST issued a new $1.5 billion dual-tranche senior unsecured convertible bond (Tranche A and Tranche B for $750 million each) due 2031 and 2033 and announced the early redemption of its $750 million convertible bond due in 2027.

Corporate developments

On May 27, 2026, STMicroelectronics held its 2026 Annual General Meeting of Shareholders in Amsterdam, the Netherlands. All proposed resolutions were approved by the Shareholders.

Business Outlook

ST’s guidance, at the mid-point, for the 2026 third quarter is:

• Net revenues are expected to be $3.70 billion, an increase of 6.2% sequentially, plus or minus 350 basis points.
• Gross margin of 37.0%, plus or minus 200 basis points.
• This outlook is based on an assumed effective currency exchange rate of approximately $1.14 = €1.00 for the 2026 third quarter and includes the impact of existing hedging contracts.
• The third quarter will close on September 26, 2026.

This business outlook does not include any impact of potential further changes to global trade tariffs compared to the current situation.

Conference Call and Webcast Information

ST will conduct a conference call with analysts, investors and reporters to discuss its second quarter 2026 financial results and current business outlook today at 9:30 a.m. Central European Time (CET) / 3:30 a.m. U.S. Eastern Time (ET). A live webcast (listen-only mode) of the conference call will be accessible at ST’s website, https://investors.st.com, and will be available for replay until August 7, 2026.

Use of Supplemental Non-U.S. GAAP Financial Information

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 ST’s consolidated financial statements prepared in accordance with U.S. GAAP.

See the Appendix of this press release for a reconciliation of ST’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 continuation, adoption and expansion of tariffs and trade barriers and sanctions, that are affecting and could further affect the macro-economic environment and are adversely impacting and could further adversely impact the demand for our products;
• uncertain macro-economic and industry trends (such as inflation and fluctuations in supply chains), which are impacting and may further impact production capacity and end-market demand for our products;
• customer demand that differs from projections which may require us to undertake transformation measures that may not be successful in realizing the expected benefits in full or at all;
• 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 macro-economic or regional events, geopolitical and 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 research and development and manufacturing programs, which benefit from public funding;
• 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 (including increasing costs resulting from inflation);
• 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, suppliers, partners and providers of third-party licensed technology;
• theft, loss, or misuse of personal data about our employees, customers, or other third parties, and breaches of data privacy legislation;
• the impact of intellectual property 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 or pandemics in locations where we, our customers or our suppliers operate;
• increased regulation and initiatives in our industry, including those concerning climate change and sustainability matters and our goal to become carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027;
• epidemics or pandemics, which may negatively impact the global economy in a significant manner for an extended period of time, and could also materially adversely affect our business and operating results;
• industry changes resulting from vertical and horizontal consolidation among our suppliers, competitors, and customers;
• 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; and
• individual customer use of certain products, which may differ from the anticipated uses of such products and result in differences in performance, including energy consumption, may lead to a failure to achieve our disclosed emission-reduction goals, adverse legal action or additional research costs.

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, 2025 as filed with the Securities and Exchange Commission (“SEC”) on February 26, 2026. 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 press 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.

Unfavorable changes in the above or other factors listed under “Item 3. Key Information — Risk Factors” from time to time in our SEC filings, could have a material adverse effect on our business and/or financial condition.

About STMicroelectronics

At ST, we are 49,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 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 cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027. Further information can be found at www.st.com.

For further information, please contact:

INVESTOR RELATIONS:

Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41 22 929 59 20
[email protected]

MEDIA RELATIONS:

Alexis Breton
Corporate External Communications
Tel: + 33 6 59 16 79 08
[email protected]

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))
	Three months ended
	June 27,	June 28,
	2026	2025
	(Unaudited)	(Unaudited)
Net sales	3,481	2,745
Other revenues	6	21
NET REVENUES	3,487	2,766
Cost of sales	(2,272)	(1,840)
GROSS PROFIT	1,215	926
Selling, general and administrative expenses	(444)	(420)
Research and development expenses	(551)	(514)
Other income and expenses, net	25	65
Impairment, restructuring charges and other related phase-out costs	(58)	(190)
Total operating expenses	(1,028)	(1,059)
OPERATING INCOME (LOSS)	187	(133)
Interest income	41	60
Interest expense	(15)	(15)
Other components of pension benefit costs	(4)	(5)
Gain (loss) on financial instruments, net	46	(19)
INCOME (LOSS) BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	255	(112)
Income tax benefit (expense)	(30)	18
NET INCOME (LOSS)	225	(94)
Net income attributable to noncontrolling interest	(3)	(3)
NET INCOME (LOSS) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	222	(97)
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.25	(0.11)
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.24	(0.11)
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS	928.0	893.9

STMicroelectronics N.V.
CONSOLIDATED STATEMENTS OF INCOME
(in millions of U.S. dollars, except per share data ($))
	Six months ended
	June 27,	June 28,
	2026	2025
	(Unaudited)	(Unaudited)
Net sales	6,570	5,257
Other revenues	12	26
NET REVENUES	6,582	5,283
Cost of sales	(4,322)	(3,516)
GROSS PROFIT	2,260	1,767
Selling, general and administrative expenses	(873)	(810)
Research and development expenses	(1,071)	(1,004)
Other income and expenses, net	70	115
Impairment, restructuring charges and other related phase-out costs	(129)	(198)
Total operating expenses	(2,003)	(1,897)
OPERATING INCOME (LOSS)	257	(130)
Interest income	80	122
Interest expense	(28)	(29)
Other components of pension benefit costs	(8)	(9)
Gain on financial instruments, net	7	6
INCOME (LOSS) BEFORE INCOME TAXES AND NONCONTROLLING INTEREST	308	(40)
Income tax benefit (expense)	(40)	4
NET INCOME (LOSS)	268	(36)
Net income attributable to noncontrolling interest	(9)	(5)
NET INCOME (LOSS) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	259	(41)
EARNINGS PER SHARE (BASIC) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.29	(0.05)
EARNINGS PER SHARE (DILUTED) ATTRIBUTABLE TO PARENT COMPANY STOCKHOLDERS	0.28	(0.05)
NUMBER OF WEIGHTED AVERAGE SHARES USED IN CALCULATING DILUTED EPS	921.3	894.9

STMicroelectronics N.V.
CONSOLIDATED BALANCE SHEETS
As at	June 27,	March 28,	December 31,
In millions of U.S. dollars	2026	2026	2025
	(Unaudited)	(Unaudited)	(Audited)
ASSETS
Current assets:
Cash and cash equivalents	3,096	1,889	2,837
Short-term deposits	1,800	1,850	1,100
Marketable securities	1,136	832	985
Trade accounts receivable, net	2,067	1,820	1,745
Inventories	3,188	3,173	3,136
Other current assets	1,410	1,263	1,468
Total current assets	12,697	10,827	11,271
Goodwill	705	707	315
Other intangible assets, net	747	750	324
Property, plant and equipment, net	10,895	10,959	11,058
Non-current deferred tax assets	435	436	408
Long-term investments	144	113	152
Other non-current assets	1,409	1,338	1,272
	14,335	14,303	13,529
Total assets	27,032	25,130	24,800
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt	1,063	319	298
Trade accounts payable	1,774	1,436	1,487
Other payables and accrued liabilities	1,406	1,438	1,440
Dividends payable to stockholders	265	18	89
Accrued income tax	62	57	37
Total current liabilities	4,570	3,268	3,351
Long-term debt	2,962	2,250	1,835
Post-employment benefit obligations	382	380	403
Long-term deferred tax liabilities	58	58	60
Other long-term liabilities	1,010	1,003	926
	4,412	3,691	3,224
Total liabilities	8,982	6,959	6,575
Commitment and contingencies
Equity
Parent company stockholders’ equity
Common stock (preferred stock: 540,000,000 shares authorized, not issued; common stock: Euro 1.04 par value, 1,200,000,000 shares authorized, 911,281,920 shares issued, 892,545,207 shares outstanding as of June 27, 2026)	1,157	1,157	1,157
Additional Paid-in Capital	3,373	3,331	3,281
Retained earnings	12,888	13,118	13,082
Accumulated other comprehensive income	732	798	945
Treasury stock	(506)	(636)	(637)
Total parent company stockholders’ equity	17,644	17,768	17,828
Noncontrolling interest	406	403	397
Total equity	18,050	18,171	18,225
Total liabilities and equity	27,032	25,130	24,800

STMicroelectronics N.V.
SELECTED CONSOLIDATED CASH FLOW DATA
Cash Flow Data (in US$ millions)	Q2 2026	Q1 2026	Q2 2025
Net Cash from operating activities	502	534	354
Net Cash used in investing activities	(686)	(1,874)	(332)
Net Cash from (used in) financing activities	1,392	398	(191)
Net Cash increase (decrease)	1,207	(948)	(165)
Selected Cash Flow Data (in US$ millions)	Q2 2026	Q1 2026	Q2 2025
Depreciation & amortization	492	454	464
Net payment for Capital expenditures	(419)	(379)	(481)
Payment for business acquisition	–	(895)	–
Net proceeds from issuance of convertible bonds	1,490	–	–
Dividends paid to stockholders	(75)	(71)	(81)
Change in inventories, net	(42)	(3)	(140)

Appendix

ST Supplemental Financial Information

	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025
Net Revenues By Market Channel (%)
Total OEM	70%	72%	73%	73%	72%
Distribution	30%	28%	27%	27%	28%
€/$ Effective Rate	1.16	1.16	1.14	1.14	1.09
Reportable Segment Data (US$ m)
Analog products, MEMS and Sensors (AM&S) segment
– Net Revenues	1,426	1,318	1,449	1,434	1,133
– Operating Income	144	161	235	221	85
Power and Discrete products (P&D) segment
– Net Revenues	464	389	412	429	447
– Operating Income (Loss)	(99)	(84)	(124)	(67)	(56)
Subtotal: Analog, Power & Discrete, MEMS and Sensors (APMS) Product Group
– Net Revenues	1,890	1,707	1,861	1,863	1,580
– Operating Income	45	77	111	154	29
Embedded Processing (EMP) segment
– Net Revenues	1,147	975	1,015	976	847
– Operating Income	226	164	195	161	114
RF Optical Communications (RFOC) segment
– Net Revenues	445	409	449	345	336
– Operating Income	94	61	105	57	60
Subtotal: Microcontrollers, Digital ICs and RF products (MDRF) Product Group
– Net Revenues	1,592	1,384	1,464	1,321	1,183
– Operating Income	320	226	300	218	174
Others (a)
– Net Revenues	5	4	4	3	3
– Operating Income (Loss)	(178)	(232)	(286)	(192)	(336)
Total
– Net Revenues	3,487	3,095	3,329	3,187	2,766
– Operating Income (Loss)	187	70	125	180	(133)

(a)   Net revenues of Others include revenues from sales of assembly services and other revenues. Operating income (loss) of Others include items such as unused capacity charges, including incidents leading to power outage, impairment, restructuring charges and other related phase-out costs, management reorganization costs, start-up costs, and other unallocated income (expenses) such as: strategic or special research and development programs, certain corporate-level operating expenses, patent claims and litigations, and other costs that are not allocated to reportable segments, operating earnings of other products as well asPPA effects from the acquisition of NXP’s MEMS sensor business. With additional cost elements included in the table below:

(US$ m)	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025
Unused capacity charges	37	69	88	102	103
Impairment, restructuring charges and other related phase-out costs	58	71	141	37	190
PPA effects from the acquisition of NXP’s MEMS sensor business	24	30	–	–	–

(Appendix – continued)

ST Supplemental Non-U.S. GAAP Financial Information

U.S. GAAP – Non-U.S. GAAP Reconciliation

The supplemental non-U.S. GAAP information presented in this press release is unaudited and subject to inherent limitations. Such non-U.S. GAAP information is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for U.S. GAAP measures. Also, our supplemental non-U.S. GAAP financial information may not be comparable to similarly titled non-U.S. GAAP measures used by other companies. Further, specific limitations for individual non-U.S. GAAP measures, and the reasons for presenting non-U.S. GAAP financial information, are set forth in the paragraphs below. To compensate for these limitations, the supplemental non-U.S. GAAP financial information should not be read in isolation, but only in conjunction with our consolidated financial statements prepared in accordance with U.S. GAAP.

ST believes that these non-U.S. GAAP financial measures provide useful information for investors and management because they offer, when read in conjunction with ST’s U.S. GAAP financials, (i) the ability to make more meaningful period-to-period comparisons of ST’s on-going operating results, (ii) the ability to better identify trends in ST’s business and perform related trend analysis, and (iii) to facilitate a comparison of ST’s results of operations against investor and analyst financial models and valuations, which may exclude these items.

Non-U.S. GAAP Gross Profit, Non-U.S. GAAP Operating Income, Non-U.S. GAAP Net Income and Non-U.S. GAAP Diluted Earnings Per Share (non-U.S. GAAP measures)

Operating income before impairment, restructuring charges and other related phase-out costs, and other certain items, is used by management to help enhance an understanding of ongoing operations and to communicate the impact of the excluded items, such as impairment, restructuring charges and other related phase-out costs, and PPA effects. Non-U.S. GAAP gross profit is also used by management to communicate the impact of PPA effects on gross margin. Adjusted net earnings and earnings per share (EPS) are used by management to help enhance an understanding of ongoing operations and to communicate the impact of the excluded items like impairment, restructuring charges and other related phase-out costs and other certain items, such as PPA effects, net of the relevant tax impact.

Q2 2026 (US$ m, except per share data)	Gross Profit	Operating Income	Net Income	Corresponding Diluted EPS
U.S. GAAP	1,215	187	222	0.24
Impairment, restructuring charges and other related phase-out costs	–	58	58
PPA effects of NXP’s MEMS sensor business acquisition	14	24	24
Estimated income tax effect	–	–	(13)
Non-U.S. GAAP	1,229	269	291	0.31

(Appendix – continued)

Net Financial Position and Adjusted Net Financial Position (non-U.S. GAAP measures)

Net Financial Position, a non-U.S. GAAP measure, represents the difference between our total liquidity and our total financial debt. Our total liquidity includes cash and cash equivalents, restricted cash, if any, short-term deposits, and marketable securities, and our total financial debt includes short-term debt and long-term debt, as reported in our Consolidated Balance Sheets. ST also presents adjusted net financial position as a non-U.S. GAAP measure, to take into consideration the effect on total liquidity of advances received on capital grants for which capital expenditures have not been incurred yet.

ST believes its Net Financial Position and Adjusted Net Financial Position provide useful information for investors and management because they give evidence of our global position either in terms of net indebtedness or net cash by measuring our capital resources based on cash and cash equivalents, restricted cash, if any, short-term deposits and marketable securities and the total level of our financial debt. Our definitions of Net Financial Position and Adjusted Net Financial Position may differ from definitions used by other companies, and therefore, comparability may be limited.

(US$ m)	Jun 27 2026	Mar 28 2026	Dec 31 2025	Sep 27 2025	Jun 28 2025
Cash and cash equivalents	3,096	1,889	2,837	1,999	1,616
Short term deposits	1,800	1,850	1,100	1,450	1,650
Marketable securities	1,136	832	985	1,327	2,363
Total liquidity (a)	6,032	4,571	4,922	4,776	5,629
Short-term debt (b)	(1,063)	(319)	(298)	(256)	(1,006)
Long-term debt (a)(b)	(2,962)	(2,250)	(1,835)	(1,910)	(1,951)
Total financial debt	(4,025)	(2,569)	(2,133)	(2,166)	(2,957)
Net Financial Position (non-U.S. GAAP)	2,007	2,002	2,789	2,610	2,672
Advances received on capital grants	(306)	(316)	(333)	(345)	(361)
Adjusted Net Financial Position (non-U.S. GAAP)	1,701	1,686	2,456	2,265	2,311

^(a)  
Total liq
uidity
and long-term debt increased following the issuance of a new $1.5 billion dual-tranche senior unsecured convertible bonds
.

^(b)  
Long-term debt contains standard conditions but does not impose minimum financial ratios.
C
ommitted credit facilities for $
1,
191
m
illion
equivalent
are currently undrawn.
Short-term debt includes $750 million after the announcement of the early redemption of the convertible bonds due 2027.

(Appendix – continued)

Net Capex and Free Cash Flow (non-U.S. GAAP measures)

ST presents Net Capex as a non-U.S. GAAP measure, which is reported as part of our Free Cash Flow (non-U.S. GAAP measure), to take into consideration the effect of advances from capital grants received on prior periods allocated to property, plant and equipment in the reporting period.

Net Capex, a non-U.S. GAAP measure, is defined as (i) Payment for purchase of tangible assets, as reported plus (ii) Proceeds from sale of tangible assets, as reported plus (iii) Proceeds from capital grants and other contributions, as reported plus (iv) Advances from capital grants allocated to property, plant and equipment in the reporting period.

ST believes Net Capex provides useful information for investors and management because annual capital expenditures budget includes the effect of capital grants. Our definition of Net Capex may differ from definitions used by other companies, and therefore, comparability may be limited.

(US$ m)	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025
Payment for purchase of tangible assets, as reported	(453)	(549)	(518)	(431)	(574)
Proceeds from sale of tangible assets, as reported	–	3	–	3	4
Proceeds from capital grants and other contributions, as reported	34	167	111	11	89
Advances from capital grants allocated to property, plant and equipment	10	17	12	16	16
Net Capex (non-U.S. GAAP)	(409)	(362)	(395)	(401)	(465)

Free Cash Flow, which is a non-U.S. GAAP measure, is defined as (i) net cash from operating activities plus (ii) Net Capex plus (iii) payment for purchase (and proceeds from sale) of intangible and financial assets and (iv) net cash paid for business acquisitions, if any.

ST believes Free Cash Flow provides useful information for investors and management because it measures our capacity to generate cash from our operating and investing activities to sustain our operations.

Free Cash Flow reconciles with the total cash flow and the net cash increase (decrease) by including the payment for purchases of (and proceeds from matured) marketable securities and net investment in (and proceeds from) short-term deposits, the net cash from (used in) financing activities and the effect of changes in exchange rates, and by excluding the advances from capital grants received on prior periods allocated to property, plant and equipment in the reporting period. Our definition of Free Cash Flow may differ from definitions used by other companies, and therefore, comparability may be limited.

(US$ m)	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025
Net cash from operating activities	502	534	674	549	354
Net Capex	(409)	(362)	(395)	(401)	(465)
Payment for purchase of intangible assets, net of proceeds from sale	(31)	(17)	(20)	(18)	(41)
Proceeds from (payment for) financial assets	13	17	(2)	–	–
Payment for business acquisitions(a)	–	(895)	–	–	–
Free Cash Flow (non-U.S. GAAP)	75	(723)	257	130	(152)

^(a)   
Q126 Free cash flow includes
$895 million cash-out related to the acquisition of NXP MEMS sensor business
.

---

¹
Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.


¹

Non-U.S. GAAP. See
Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.


²

Q
2
26
Analog products, MEMS and Sensors (AM&S) segment included
revenues associated with NXP’s MEMS sensor business.

³
Non-U.S. GAAP. See Appendix for reconciliation to U.S. GAAP and information explaining why the Company believes these measures are important.


²

Q126
Free cash flow includes $895 million cash-out related to the acquisition of NXP MEMS sensor business
.

Attachment

• C3403C – Q226 Earnings PR – STMICROELECTRONICS