STMicroelectronics announces fourth quarter and full year 2022 financial results

• the legal, political and economic uncertainty surrounding Brexit could cause instability in international markets and currency exchange rate fluctuations for a prolonged period of time and could adversely affect business activity, political stability and economic conditions, and although we do not have significant operations in the United Kingdom and to date Brexit has not had any material impact on our underlying business, we cannot predict its future impact;

• financial difficulties on the part of any of our major distributors or significant reductions in purchases by our major customers;

• our capacity utilization, product mix and manufacturing efficiencies and/or the volume of production required to meet capacity reserved for suppliers or third-party manufacturing providers;

• the availability and cost of equipment, raw materials, utility services, third-party manufacturing services and technology or other supplies necessary for our operations (including cost increases due to inflation);

• the functionality and performance of our IT systems, which are subject to cybersecurity threats and support our critical operational activities, including manufacturing, finance and sales; and any disruptions to our or our customers’ or suppliers’ IT systems;

• Theft, loss or misuse of personal data of our employees, customers or other third parties, and violations of global and local privacy regulations, including the European Union’s General Data Protection Regulation (“GDPR”)

• 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 tax rules, new or revised legislation, the results of tax audits or changes in international tax treaties, which could affect our operating results and our ability to accurately measure our tax credits, refunds, deductions and reserves, and our ability to realize deferred tax assets, ultimately resulting in changes to our overall tax position;

• changes in foreign exchange markets, particularly the exchange rate of the U.S. dollar against major currencies such as the euro used in our operations;

• the outcome of ongoing litigation and the impact of any new litigation in which we may be a defendant;

• product liability claims or warranty claims or other claims related to our products arising from the pandemic or the inability to deliver goods, or customer recalls of products containing our chips;

• Natural disasters occurring in the areas where our company, customers or suppliers operate, such as severe weather, earthquakes, tsunamis, volcanic eruptions, or other natural phenomena, the impacts of climate change, health risks and infectious diseases or global pandemics (for example, the COVID-19 pandemic);

• increased industry regulation, including related to climate change and sustainability, and our commitment to achieve carbon neutrality by 2027;

• Potential loss of key employees and possible inability to recruit and retain qualified employees due to an infectious disease or global pandemic (e.g., the COVID-19 pandemic), remote work arrangements, and corresponding restrictions on social and professional interactions;

• the duration and severity of the COVID-19 global outbreak could continue to have a significant negative impact on the global economy for an extended period of time and could also have a material adverse effect on our business and results of operations;

• changes in our industry resulting from horizontal and vertical integration among our suppliers, competitors and customers;

• The ability to expedite the implementation of new programs, the success of which may be affected by factors beyond our control, including the availability of critical third-party components and whether subcontractors perform in accordance with our expectations.

These forward-looking statements are subject to various risks and uncertainties that could cause the actual results and performance of our business to differ materially or adversely from those in the forward-looking statements. Certain forward-looking statements can be identified by forward-looking terminology such as "believe," "expect," "may," "anticipate," "should," "will," "seek," or "anticipate" or similar expressions or the negative thereof or other variations or comparable terminology, or by discussions of strategy, plans or intentions.

With respect to the above risk factors, we set forth and discuss in detail some of the risk factors in “Item 3. Key Information — Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2021, filed with the SEC on February 24, 2022. If one or more of these risk factors become established facts or if underlying assumptions prove incorrect, actual results may differ materially from those anticipated, believed or intended in this press release. We do not intend and have no obligation to update any industry information or forward-looking statements in this press release to reflect subsequent events or circumstances.

We occasionally disclose the above risks or other risks or uncertainties in "Item 3. Key Information — Risk Factors" in our filings with the Securities and Exchange Commission. Adverse changes in these factors could have a material negative impact on our business and/or financial condition.