SEC Filing | Tower Semiconductor

Safe Harbor This presentation contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. For example, statements regarding expected (i) customer demand, (ii) utilization and cross utilization of our Fabs, (iii) demand from our end markets, (iv) market and technology trends, and (v) results regarding revenues, cash flow, margins and net profits are all forward-looking statements. Actual results may differ materially from those projected or implied by such forward-looking statements due to various risks and uncertainties applicable to Tower Semiconductor’s business as described in the reports filed by Tower Semiconductor Ltd. (“Tower”) with the Securities and Exchange Commission (the “SEC”) and the Israel Securities Authority (“ISA”), including the risks identified under the heading "Risk Factors" in Tower’s most recent filings on Forms 20-F and 6-K. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations or financial condition of Tower Semiconductor. In addition, some of the financial information in this presentation, is non-GAAP financial measures, including, but not limited to, EBITDA, Cash, debt and Net Cash. These non-GAAP financial measures have the same definition as appear in our previously filed quarterly financial results related announcements and/ or other public filings. Tower Semiconductor is providing this information as of the date of this presentation and expressly disclaims any obligation to update any of the forward-looking statements or other information contained in this presentation as a result of new information, future events or otherwise.

Agenda CEO Keynote Russell Ellwanger, CEO Technology Leadership & Served Markets Dr. Avi Strum, CTO Operational Excellence Rafi Mor, COO Financial Strength Oren Shirazi, CFO Q&A Panel

Partnership, Leadership, Impact, InnovationExcellence Russell Ellwanger, CEO

Washington, D.C. Statue on the left of the main entrance to the National Archives of the United States bears the inscription: "The heritage of the past is the seed that brings forth the harvest of the future"

IS SHOULD WANT

Our Vision:Provide the highest value analog semiconductor solutions as validated by our customers, employees, shareholders and partners.

The Corporate World SHOULD IS WANT

The Corporate World Go out of business scenario Selfish self-aggrandizing management No corporate evolution No sensitivity to the market No ear to the customers SHOULD IS WANT

The Corporate World No shared vision No motivation Little innovation Non-sustainable IS SHOULD WANT

Slave to the past Lack courage to make needed changes IS SHOULD WANT The Corporate World

IS SHOULD WANT The beginning of a successful company

The Corporate World - Customers centric Setting and evaluating realistic but stretch-goals with definitive metrics Requires continual rapid cycles of learning IS SHOULD WANT Can increase degree of overlap by being:

The Corporate World Even once aligned, market/customers insensitivity can cause them to move apart. A company must continually have: The honesty to introspect and the courage to change IS SHOULD WANT

Excellence Leading the analog ecosystem with technology and process solutions in exciting and growing markets Leadership Being a trusted long-term partner for customers, employees and shareholders Partnership Impact Innovation We pursue excellence in all we do from ideation through product shipment. Hence, we deliver the best experience to our customers and employees Embedded in everything that we do Value Vectors Effective, Efficient, Highest Quality

Tower Semiconductor and InnoLight Partner to Develop Multi-Generation Silicon Photonics Based Optical Transceivers 400G/800G Transceivers built on Tower’s production PH18M Silicon Photonics platform Partnership to deliver solutions for the growing markets of Artificial Intelligence (AI), Datacenter Interconnects and Next-Gen Telecom MIGDAL HAEMEK, Israel, and SUZHOU, China, Sept. 7, 2023 –Tower Semiconductor (NASDAQ/TASE: TSEM), a leader in high-value analog semiconductor foundry solutions, and InnoLight Technology, the leader in data center optics, today announced their collaboration to develop multi-generation high-speed optical transceivers based on Tower’s Silicon Photonics process platform (PH18). With production already underway, this strategic partnership is expected to enable cutting-edge solutions to support the growing demands of AI, datacenters, and next-generation telecom networks. According to Yole, a market research firm, the silicon photonic die market is expected to grow at 22% CAGR reaching nearly half-a-billion dollars by 2027. Coherent Awards Tower Semiconductor as an Outstanding Innovation and Technology Supplier for Silicon Photonics based Products Tower’s silicon photonics technology to be deployed by Coherent across multiple data rates for high-speed optical transceivers needs Technology for Micro Displays PITTSBURGH, PA, and MIGDAL HAEMEK, Israel, March 18, 2024 – Coherent Corp. (NYSE: COHR), a global leader in materials, networking, and lasers, and Tower Semiconductor (NASDAQ/TASE: TSEM), the leading foundry of high-value analog semiconductor solutions, today announced that Coherent has recognized Tower Semiconductor as an Outstanding Innovation and Technology Supplier for its silicon photonics based optical transceiver products. This prestigious award recognizes Tower’s unwavering long-term commitment to providing the most advanced technology solutions, enabling the development of Coherent’s market-leading multiple data rate nodes for high-speed optical transceivers based on Tower’s PH18 silicon photonics process technology. According to the Yole Group, the silicon photonics market is expected to grow at 44% CAGR from 2022 to 2028, supporting growth of AI, Data Center, and Network infrastructure.

6 of the top 10 are our active customers (not Huawei). To note: Coherent is a result of an acquisition of Finisar.

Silicon Photonics: From Pluggable to CPO to Optical I/O 100G/400G/800G 800G/1.6T 3.2G/6.4T/12.8T 6.4T/12.8T & Beyond Silicon Photonics enables Higher Bandwidth (Gbps) Lower Power (pJ/bit) Lower Cost ($/Gbps) Source: ASE

Excellence Leading the analog ecosystem with technology and process solutions in exciting and growing markets Leadership Being a trusted long-term partner for customers, employees and shareholders Partnership Making a positive and sustainable impact on the world Impact Innovation An environment of innovation - moving great ideas into value We pursue excellence in all we do from ideation through product shipment. Hence, we deliver the best experience to our customers and employees Embedded in everything that we do Value Vectors Effective, Efficient, Highest Quality

Financial Metrics of Excellence Effective ~ Gross Margin High value offerings that enable customers at high capacity scale. Efficient ~ Point drop from Gross Margin to Operating Margin Tower is a benchmark at about 10 points Streamlined infrastructure leads to fast decision making and fast execution Tower’s process flow development is done in the Fab that will be running the flow => speed to ramp. All process engineers are R&D engineers!

Financial Metrics of Excellence (cont.) Highest Quality Tower top 20% by ranking and rating has a benchmark low attrition rate Actual Actual 2023 2.4% 2015 2.2% 2022 3.0% 2014 3.8% 2021 3.4% 2013 3.4% 2020 1.5% 2012 4.4% 2019 2.4% 2011 2.6% 2018 0.9% 2010 2.2% 2017 3.7% 2009 2.3% 2016 0.5%

Alice in Wonderland | Lewis CarrollAlice approaching a crossroad, asked the Cheshire Cat Alice: “can you please tell me which way I ought to go from here?” Cat: “that depends a good deal on where you want to get to” Alice: “I don’t much care where” Cat: “then it doesn’t much matter which way you go…”

We know where we are going!

“What is past is prologue” We have a rich past, an introduction for each of us to write the most amazing new chapter in the book of Tower.

Technology Leadership and Served Markets Dr. Avi Strum, CTO

Tower Semiconductor (NASDAQ/TASE: TSEM) Analog Pure play foundry Serving over 300 customers globally Analog technology leadership Focus on RF, Power, Sensors & Displays Serving a wide range of end-markets Infrastructure, automotive, mobile, medical, industrial, consumer, aerospace and defense Operational Excellence Multi-fab production options across three geographic regions 2023 Revenue Breakdown

RF Infrastructure Optical Fiber Transceivers HP SiGe and Si Photonics Datacom, Telecom and Artificial Intelligence

Growth of Optical Transceivers Historically our market has been exclusively of SiGe optical transceiver components (drivers, TIAs, CDRs) Today, we are adding Silicon Photonics components at higher data-rates (400/800 G) Working with >50 active Silicon Photonics customers, announced production and partnerships with Innolight and Coherent (#1, #2 optical module providers) and Marvell (Tier 1 optical transceiver IC provider) LightCounting, 2022

Silicon Germanium:Linear Pluggable Optics (LPO) boosting SiGe opportunity Linear Drive (no DSP) Lower Cost Lower Power Lower Latency Larger market for SiGe DSP-based Transceiver Analog Trasceiver Source: Ruijie Networks

Silicon Photonics Market

SiPho based FMCW benefit for LiDAR FMCW LiDAR gives both the range (x, y, and z coordinates) and the relative velocity of surrounding objects, making it best suited for automotive applications SiPho enables a compact integration of all optical elements of an FMCW LiDAR: laser sources, optical modulators, mux/demux, couplers and photodetectors etc. SiPho also enables on-chip integration of Optical Phase Arrays (OPAs) for scanning the beam with high speed and reliability (no moving parts). Adapted from Rezaei et al, Univ. of Washington (ASHES ’22) SiPho

Satellite based internet services Terrestrial receiver demand is growing SiGe based phased-array are key enablers ~250 phase-array ICs per terminal on average 80M* new users expected over the next decade can drive an additional ~$400M/year SiGe market User Terminal Examples UCSD, IEEE MTT-S 2020 256 Element Phased-Array Example Shown for illustrative purpose only. Not an indication of Tower’s content. Shown for illustrative purpose only. Not an indication of Tower’s content. Collaboration with Renesas to Manufacture SiGe-based Beamforming ICs for Tier-1 Customers in Satcom, 5G, and Aerospace & Defense Applications * Euroconsult

Tower Semiconductor Collaborates with Renesas to Manufacture SiGe-based Beamforming ICs for Tier-1 Customers in Satcom, 5G, and Aerospace & Defense Applications The Satcom terrestrial market is expected to grow to 150M users by 2031 according to Euroconsult with the expansion of global satellite-based internet services MIGDAL HAEMEK, Israel, January 16, 2024 – Tower Semiconductor (NASDAQ/TASE: TSEM), the leader in high-value analog semiconductor foundry solutions, today announced a collaboration with Renesas, leveraging Tower’s high-volume and high-performance SiGe BiCMOS technology to manufacture SiGe-based beamforming ICs. This strategic collaboration underscores Renesas’ commitment to innovation as its broad portfolio of beamforming products has already achieved design wins by key worldwide players across 5G, satcom and Aerospace & Defense markets, positioning the company at the forefront of the industry. The Satcom terrestrial terminal market is growing rapidly as satellite-based internet services proliferate globally. According to Euroconsult, a market research firm, 71 million people were connected to satellite broadband services in 2022. With rapid deployment of LEO satellite constellations, this number is expected to double in 2031, reaching over 150 million users. This translates to an increase of $400M in the average yearly TAM for SiGe wafers over the coming decade. “The unique advantages of Tower’s SiGe BiCMOS technology have empowered us to design and manufacture highly integrated and power efficient semiconductors that set new industry benchmarks,” said Naveen Yanduru, VP of RF Communications at Renesas. “As evidenced by our design wins and volume shipments, the displacement of mechanical antennas by highly agile electronically steered antennas (ESAs) is well underway and will continue to drive exponential SAM growth for beamforming ICs in the coming years. With the continuously surging demand for millimeter-wave technology, our collaboration with Tower Semiconductor has positioned Renesas as a market leader,” Mr. Yanduru added. Renesas is a global leader in delivering cutting-edge solutions for the telecommunications industry and has made strides in the Satcom and 5G markets through its collaboration with Tower Semiconductor. This capability played a significant role in empowering Renesas to establish and solidify its market leadership. “We are excited to partner with Renesas in bringing these breakthrough products to market leveraging our industry leadership in SiGe foundry technology along with their strong product development, talent and market presence,” noted Dr. Marco Racanelli, President at Tower Semiconductor. “Our global capacity and engineering agility will ensure Renesas has both the ability to develop new, high-performance products and deliver these in high-volume to their Tier 1 customers.” 34

RF Mobile Wireless Front-End Components Built on RF SOI and RF SiGe

RF SOI figure of merit roadmap 200mm and 300mm wafer sizes 180nm to 65nm nodes 4 factories in high volume + qualifying Agrate, Italy Best-in-class FoM and roadmap with low Ron-Coff and high power handling QT1 QT8 QT9/TPS90RSB QT10/TPS65RSC RF SOI Ron-Coff (fs)

RF Mobile Market Wireless Front-End Built on RF SOI and RF SiGe Platforms RF Switch RF SOI Antenna Tuner RF SOI Low-noise Amplifier SiGe / RF SOI Power Amplifiers SiGe / RF SOI mmWave SiGe / RF SOI 5G adoption drives steady growth in RF content with 6G coming by 2030

Power and Mixed-Signal Largest Analog Market $24B 2024 Power IC market per Yole Serving all major Semi Segments Automotive Industrial Consumer Infrastructure

Power IC Market (~$24B* Total) Traditional 200mm Markets for Tower 180nm BCD with rich analog features Automotive, Industrial, and Infrastructure applications Market Size vs. Operating Voltage * Yole: 2024 Power IC market Newer 300mm Markets for Tower 65nm BCD with best-in-class Rdson/efficiency Mobile, battery operated applications Poised for strong market share gains in this large market with announced 300mm capacity, 65nm technology, and customers

Power Devices LDMOS, DEMOS 1.2V Core Trans. (MOS, stdcell, SRAM, ePF) TPS65PM Modularity 5V or 3.3V Mixed Signal (MOS/Cap/Diode/BJT/Resistor, poly Fuse, eNVM, ..) Analog adders (Hipo, MiM, MoM, Zener) BEOL 2~6 Cu Top 0.9 or 3.3um It covers a wide range of Power & Analog applications with best-in-class FOMs This technology has a low mask count, achieved by sharing masks across different devices Tower’s 65nm BCD technology is based on a modular process that potentially has more than 1000 different flavors

Sensors and Displays CMOS Image Sensors High-Value Markets Medical Industrial Automotive uLED Display Solutions Emerging, Growth Markets AR/VR High Resolution Displays

CMOS Image Sensor market overview $15.2B $0.6B $1B $1.9B $2.1B $2.5B $2B $0.5B $19.5B $0.9B $0.9B $1.9B $3.2B $3.6B $2.9B $0.7B CAGR 6.7% 2023 2027 Source: Yole

High Value CIS Markets Medical and Dental X-Ray High value wafers due to unique stitching technology for large sensors Intra and Extra Oral Mammography Surgical Up to 21cm x 21cm (1 DPW) High-end Photography High value wafers due to unique pixel IP, stitch field for full-frame sensors and stacked BSI technology Cinematography Broadcasting High end photography Industrial Machine Vision High value wafers due to unique global shutter, stitch field and stacked BSI 2-D barcode readers Food inspection Industrial robots Display / solar cell inspection ITS

Emerging High Growth Sensor and Display Markets Biometrics Driven mainly by the mobile market Optical fingerprint lens-type sensors Face recognition (iToF) Palm recognition 3D sensing Driven by high growing markets such as automotive (LiDARs) and AR (3D mapping) Automotive (dToF) Gaming (iToF/dToF) AR/VR depth sensors Robotics / Home Robotics (dToF) Fast camera autofocus Displays Very high growth market (VR Displays) uOLED displays for VR goggles uLED on Silicon for next generation displays

Stitching technology Large Scale image sensor process using stitching 2 masks solutions : Single mask solution Stitched Non-Stitched 4/3” 1” 35 mm APS (3:2) 2/3” 1/4” 1/3” 1/2” 1/10” 48x36 Full 8” wafer size Full 12’’ sensor 44x33 Mask A Mask B Print on silicon Mask Print on silicon – no size limitation A B

Operational Excellence Rafi Mor, COO

Tower Operational Strategy Leverage Tower Global operations to pursue excellence in all what we do. Quality, efficiency and effectiveness are the pillars of excellence and are indispensable to each other. We continually drive: Highest standards of quality Efficiency in processes, systems and procedures Effectiveness in creation and implementation We are Committed to continuous improvement. We continually develop and maintain large wafer capacity with duplication of major process flows across different geographic locations for BCP purposes. Load the Fabs to high utilization while delivering the best-in-class KPI’s.

Adding significant 300mm capacity to grow scale 6″, 150mm Sensors, Power 1μm to 0.35μm Migdal Haemek, Israel 8″, 200mm RF SOI, Sensors, Power 0.18μm to 0.13μm Migdal Haemek, Israel 8″, 200mm SiGe, SiPho, RF SOI 0.5μm to 0.13μm Newport Beach, USA 8“, 200mm RF SOI, Power, SiGe 0.18µm San Antonio, USA 8″, 200mm Power 0.18μm Tonami, Japan 12″, 300mm RF SOI, Power, Sensors 65nm & 45nm Uozu, Japan Six factories in high-volume production Two additional 300mm factories being qualified to meet forecasted growing demand with biz models minimizing time to volume and cost. Agrate, Italy 12″, 300mm RF SOI, Displays, Power 65nm Albuquerque, USA 12″, 300mm Power, RF SOI 65nm New 12” Capacity

Tower Operations - Global capacity assurance 3.1M Wafers / Year (200mm equivalent). Enabling 200mm and 300mm multi-fab wafer production. Cross Qualification answer customers BCP needs and maximized utilization and customer assurance Fab-10 started production ramp in Q1 2024. Fab11 will start production ramp in Q1 2025. RFSOI Power, CMOS Stitched NIS RFSOI Power, CMOS TOPS SiGe SiGe/SiPho RFCMOS RFCMOS Fab7 Fab10 Fab11

Operational Excellence – Best in class KPI’s among Analog Fabs High Asset utilization of ≥85%, with minimal affect on fab performance Duplicate major flows between Fabs to increase operational flexibility. 1 Capacity & Utilization . Strive for Best in benchmark OSD and Cycle time OSD >97% and Cycle time <2.0 DPL at 65nm Technology. 2 OSD & Cycle Time Must produce parts at the lowest possible cost OEE improvement on Bottleneck Tools, Qualify alternative materials and Parts, Reduce material usage, Lower price on same materials. 3 Cost Savings . Cpk> 1.67,Plant Yield >98%, RMA <0.2%,typical Die Yield >95%. Support Automotive customers. ISO Certified for : Quality ; Environmental; IP Security; Safety; and Automotive. Reduce CONQ. 4 Quality: Plant Yield Die Yield & RMA Align the Technological Roadmap with customers wants and needs Transfer new technologies from the R&D to the Fabs and Ramp into mass production with the Quality mentioned above. 5 New Technologies Ramp to Mass Production

Effective Supply Chain Leverage Global Presence Increase Assets Utilization Lean- Eliminate Waste Leverage Company Size Global Contracts Eliminate process & Metrology steps. Assign to the fastest capable tools. Reengineering Test wafers, Water, H2SO4, etc. Local Repair Lab Repair & Recycle Reduce Material consumption Reduce Scrap and Waste Move the best experts from site to site. Shared Resources Global Teams- share Best Practices and Cross-Fab FMEA Shared Best Practices Move Tools from site to site . Sale non utilized tools. Shared Equipment Tool Availability. Redundancy Process throughput. OEE Improvement With Power & Bulk Gases suppliers. Long Term Contracts Improve Visibility & Standardization. Automation-Dashboard Optimize wip management increase Fab Throughput Automation-Scheduler Package deals with OEM and 2nd source vendors. Centralized Capex Operational Excellence - Improve Operational Efficiency

Global platform Enabling operation to improve the quality and efficiency by learning proactively from other sites and solved problems faster by consulting organization experts Data search – search information on events, change control, articles, non-conforming material, etc. Common tools –Identify tools and processes owners and experts and identify automatically identical tools in different sites to enable knowledge sharing. Technology search –Identify technologies experts and identify automatically identical technologies in different sites to enable knowledge sharing. Tower dictionary – explain Tower terms and abbreviations OEE – global data base of tools performance to state differences between FABs and drive performance to the best one.

Develop E-learnings, WEB based trainings to improve the skills of all employees in the global operations Trainings were developed for the following topics: Knowledge sharing, CCB, non-conforming material , Measurement system analysis, Crash, Overall Equipment Effectiveness (OEE), Basic statistics, statistical Hypothesis tests, Statistical Process Control (SPC). Change Management (CCB) Non Conforming Material Measurement System Analysis (MSA) Operation Under Crash Situation Basic Statistics Knowledge Sharing 5S Overall Equipment Effectiveness OEE Problem Solving WIP management

The total electricity savings per year is equivalent to yearly electricity consumption of about 1800 private households or 16 million pounds of coal burned The total water saving is equal to the annual water consumption of a town with a population of 20000 people 54 Tower Semiconductor is Going Green, Results also in increase Efficiency TSEM broadening its presence into renewable energy and green initiatives. Invested in key projects which enables improvement in water and electricity usage. Reduction in power usage by installing solar panels in Fab1&Fab2 Roof with estimated 4400MWh yearly production . Global initiatives to reduce Electricity consumption of 18,000 MWh/year such as installing smart devices that regulate power consumption, upgrading the chillers, replacing the cooling tower and replacing neon light bulbs with LED bulbs Total of 774,500 m3/year water consumption were reduced through recycling projects. Waste Reduction: Recycle 3K ton/year of H2SO4

The Best Confidence Builder is High Yielding Wafer Shipped on Time Large Capacity Globally and High Assets Utilization: Quality technologies at multiple TowerJazz Sites to utilize all Fabs at >85%, allowing us to better serve increasing customer demand. Reduced Lead Time: To shorten Time to Market for new products  Fuel our customer’s future growth! 55 Improved Efficiency : OEE Improvement to reduce Capex investment. COGS Savings maintain competitive p Exceptional Quality: PPB level Field Failures & High Yields - to delight existing customers and win new products.

Financial Strength Oren Shirazi, CFO

Financial Model ($M) Revenue Gross Profit Operating Profit Net Profit 1,423 354 234 ** 229 ** 2,660 740 560 500 2023 Built-out capacity @85% utilization* * Including New Mexico capacity corridor and Agrate capacity based on previously announced Cap-Ex investments ** Excluding Intel merger contract termination fees received in Q3’2023, net of associated cost and taxes 1,237 386 326 271 Incremental 31% 26% 22% % of Incremental Revenue $M 1.9X 2.1X 2.4X 2.2X

Annual Revenue (5-year Tracking & 2023) 58 $M

Balance Sheets ($ in million) December 31, 2023 September 30, 2023 December 31, 2022 CURRENT ASSETS Cash and cash equivalents 261 315 341 Short-term deposits 791 735 495 Marketable securities 185 179 170 Trade accounts receivable 154 150 153 Inventories 282 304 302 Other current assets 36 34 34 Total Current Assets 1,709 1,717 1,495 Property and equipment, net 1,156 1,062 962 Intangible assets, net 12 13 14 Deferred tax and other long-term assets, net 41 44 77 TOTAL ASSETS 2,918 2,836 2,548 CURRENT LIABILITIES Short-term debt 59 48 62 Trade accounts payable 138 106 151 Customer prepayment and deferred revenue 18 24 39 Other current liabilities 61 80 135 Total Current Liabilities 276 258 387 Long-term debt 173 180 210 Customer prepayment 26 30 41 Deferred tax and other long-term liabilities 16 19 21 TOTAL LIABILITIES 491 487 659 Shareholders’ Equity 2,427 2,349 1,889 TOTAL LIABILITIES & EQUITY 2,918 2,836 2,548

Cash Reports ($ in million) Q4‘23 Q3’23 Q4‘22 Cash opening balance, excluding securities & deposits 315 318 390 Cash from operating activities 126 402 * 133 Cap-Ex, net (136) (101) (38) Investments in securities, deposits & long-term assets (37) (318) (150) Debt repaid and others, net (7) 14 6 Cash closing balance, excluding securities & deposits 261 315 341 * Cash from operations includes Intel termination fee, net of cost, in the amounts of $314M received in Q3’23 and FY’23 FY‘23 FY’22 Cash opening balance, excluding securities & deposits 341 211 Cash from operating activities 677 * 530 Cap-Ex, net (432) (214) Investments in securities, deposits & long-term assets (289) (116) Debt repaid and others, net (36) (70) Cash closing balance, excluding securities & deposits 261 341

FY‘23 P&L vs. FY’22 P&L(in thousands of $)

Q4‘23 P&L vs. Q3’23 and Q4’22 P&L(in thousands of $)

Financial Model ($M) Revenue Gross Profit Operating Profit Net Profit 1,423 354 234 ** 229 ** 2,660 740 560 500 2023 Built-out capacity @85% utilization* * Including New Mexico capacity corridor and Agrate capacity based on previously announced Cap-Ex investments ** Excluding Intel merger contract termination fees received in Q3’2023, net of associated cost and taxes 1,237 386 326 271 Incremental 31% 26% 22% % of Incremental Revenue $M 1.9X 2.1X 2.4X 2.2X

	TOWER SEMICONDUCTOR LTD.

Date: March 19, 2024	By:	/s/ Nati Somekh
		Name: Nati Somekh
		Title: Corporate Secretary