A more complete discussion of risks and uncertainties that may affect the accuracy of forward-looking statements included in this release or which may otherwise affect our business is included under the heading "Risk Factors" in the Company’s most recent filings on Forms 20-F and 6-K, as were filed with the SEC and the Israel Securities Authority. Future results may differ materially from those previously reported. The Company does not intend to update, and expressly disclaims any obligation to update, the information contained in this release.

(Financial tables follow)

TOWER SEMICONDUCTOR LTD. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
	September 30,				December 31,
	2024				2023
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	270,979			$	260,664
Short-term deposits	893,899				790,823
Marketable securities	40,137				184,960
Trade accounts receivable	195,794				154,067
Inventories	272,377				282,688
Other current assets	41,104				35,956
Total current assets	1,714,290				1,709,158
PROPERTY AND EQUIPMENT, NET	1,295,243				1,155,929
GOODWILL AND OTHER INTANGIBLE ASSETS, NET	10,770				12,115
OTHER LONG-TERM ASSETS, NET	39,526				41,315
TOTAL ASSETS	$	3,059,829			$	2,918,517
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term debt	$	61,694			$	58,952
Trade accounts payable	129,703				139,128
Deferred revenue and customers' advances	27,935				18,418
Other current liabilities	75,239				60,340
Total current liabilities	294,571				276,838
LONG-TERM DEBT	131,614				172,611
LONG-TERM CUSTOMERS' ADVANCES	10,122				25,710
DEFERRED TAX AND OTHER LONG-TERM LIABILITIES	15,862				16,319
TOTAL LIABILITIES	452,169				491,478
TOTAL SHAREHOLDERS' EQUITY	2,607,660				2,427,039
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	3,059,829			$	2,918,517