Modified · Manufacturing

We continue to invest to strengthen our competitive advantage in manufacturing and technology as part of our long-term capacity plan. We are nearing the end of a six-year elevated capital expenditures cycle that, when completed, will have invested in manufacturing capacity to support customer demand, enable external foundry transfers and prepare new factories to have cleanroom space available to support future growth. These investments have uniquely positionpositioned TI to deliver dependable, low-cost 300mm capacity, scalability of capital expenditures, including capacity modularity, and with the ability to equip and ramp factories to support customer demand. We believe this approach supports free cash flow per share growth across a range of market conditions.