Financial Analysis

NOTE 4 - EMPLOYEE BENEFITS In Israel Severance Israeli labor laws generally require severance payments upon dismissal of an employee or upon termination of employment in certain other circumstances. The following plans relate to the Companys employees in Israel. Severance pay liability with respect to Israeli employees is calculated pursuant to Israeli Severance Pay Law based on the most recent salary of the employees, multiplied by the number of years of employment as of the period-end date. The Company records an expense for the increase in its severance liability, net of income (losses) from the related severance pay funds. The liabilities are presented on an undiscounted basis and included on the consolidated balance sheets as a long-term employee benefit. Severance pay liabilities as of December 27, 2025 and December 28, 2024 were $78 million and $62 million, respectively. The Companys liability for all of its Israeli employees is covered by monthly deposits with severance pay funds. The value of the deposited funds is based on the cash surrender value of these policies and includes gains (or losses) accumulated through the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligations pursuant to Israeli Severance Pay Law or labor agreements. Severance pay funds, which are included in other long-term assets, were $69 million and $52 million as of December 27, 2025 and December 28, 2024, respectively. The majority of the Companys li …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

NOTE 8 - INCOME TAXES Income (Loss) before income taxes included in the consolidated statements of operations and comprehensive income (loss) Income (loss) before income taxes for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 was comprised of the following: Year ended December 27, December 28, December 30, U.S. dollars in millions 2025 2024 2023 Income (loss) before taxes: U.S $ (11) $ (11) $ (13) Non-U.S (366) (3,152) 29 Total income (loss) before income taxes $ (377) $ (3,163) $ 16 Benefit (provision) for income taxes included in the consolidated statements of operations and comprehensive income (loss) Benefit (provision) for income taxes for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 was comprised of the following: Year ended December 27, December 28, December 30, U.S. dollars in millions 2025 2024 2023 Current income taxes: State $ $ $ Federal Foreign (30) (28) (58) Total current benefit (provision) for income taxes (30) (28) (58) Deferred income taxes: State 1 Federal (28) 53 (28) Foreign 43 47 43 Total deferred benefit (provision) for income taxes 15 101 15 Total benefit (provision) for income taxes $ (15) $ 73 $ (43) Effective income tax rate reconciliation The difference between the tax provision at the statutory federal income tax rate and the benefit (provision) for income taxes in dollars and as a percentage of income (loss) before income taxes (effective tax rate) for each year is as follows. The discl …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 5 - LEASES The Companys operating leases consist of offices and vehicles and the lease term varies between 3 - 8 years . Some of the Companys leases include options to extend the lease term for periods of up to five years each. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expenses for operating lease payments are recognized on a straight-line basis over the lease term. Certain operating leases provide for annual increases to lease payments based on an index. The Company calculates the present value of future lease payments based on the index or rate at the lease commencement date. Differences in lease payments resulting from changes in an index or rate are recognized are expensed as incurred and are not material for all periods presented. The lease agreements generally do not contain any residual value guarantees or restrictive covenants. Operating lease expense for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 were $18 million, $16 million, and $19 million, respectively. The Company does not have any finance leases. The balances for the operating leases, which are presented on the consolidated balance sheets in other long-term assets, other current liabilities and long-term liabilities, were as follows: As of December 27, December 28, U.S. dollars in millions 2025 2024 Operating lease right-of-use a …

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New Accounting pronouncements Accounting pronouncements adopted in the period In December 2023, the FASB issued ASU 2023-09 Improvements to Income Tax Disclosures (ASU 2023-09). ASU 2023-09 improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, the ASU is effective for annual periods beginning after December 15, 2024. The Company implemented the new income tax disclosures retrospectively. The implementation of ASU 2023-09 affected disclosures only and had no impact on the Companys financial condition or results of operations (See Note 8 Income Taxes ). Accounting Pronouncements effective in future periods In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expense (ASU 2024-03) and ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (ASU 2025-01). ASU 2024-03 and ASU 2025-01 improves the disclosures about a public business entitys expenses and provides more detailed information about the types of expenses in commonly presented expense captions. The amendments requi …

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NOTE 9 - RELATED PARTY TRANSACTIONS The Company has entered into a series of related party arrangements with Intel. The arrangements were as follows: Stock Compensation Recharge Agreement The Company entered into a stock compensation recharge agreement with Intel, which requires the Company to reimburse Intel for certain amounts, net of any related withholding tax, relating to the value of share-based compensation provided to the Companys employees for RSUs or stock options exercisable in Intel stock. The reimbursement amounts recorded as an adjustment to additional paid-in capital in the consolidated statement of changes in equity were $9 million, $62 million and $100 million for the years ended December 27, 2025, December 28, 2024 and December 30, 2023, respectively. Lease agreements Under lease agreements with Intel, the Company leases office space in Intels buildings. The costs are included in the consolidated statements of operations and comprehensive income (loss) primarily on a specific and direct attribution basis, as described in Note 2 Significant Accounting Policies . The leasing costs for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 were $2.6 million, $2.8 million and $4.4 million, respectively. Other services to a related party The Company reimbursed its Chief Executive Officer for reasonable travel related expenses incurred while conducting business on behalf of the Company as well as paid for certain security related costs. For the …

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NOTE 12 - SEGMENT INFORMATION An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (CODM), or decision-making group, to evaluate performance and make operating decisions. The Company has identified its CODM as the Chief Executive Officer (CEO). The Companys organizational structure and management reporting supports two operating segments: Mobileye and Moovit. The CODM evaluates performance, makes operating decisions and allocates resources based on the financial data of these operating segments. Operating segments do not record inter-segment revenue. Mobileye is presented as a reportable operating segment and Moovit, which is a mobility-as-a-service company, is presented within Other as per ASC 280, Segment Reporting. The CODM uses segment performance to allocate resources to segments in the annual budget and forecasting process and also uses that measure to assess the segment performance. Segment performance is the operating income (loss) reported excluding the amortization of acquisition-related intangible assets, share-based compensation expense and impairment of goodwill. Starting in 2025, the measure of segment performance used by the CODM changed and as a result, the Companys segment performance measure was updated to also exclude share-based compensation expenses (that were previously included in segment performance). The change aligns with s …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company operates on a 52-week or 53-week fiscal year that ends on the last Saturday in December. Fiscal years 2025, 2024 and 2023 were 52-week fiscal years. The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). All intercompany balances and transactions have been eliminated in consolidation. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts and events reported and disclosed in the consolidated financial statements and accompanying notes. We base our estimates on historical experience and on various other assumptions and factors, including the current economic environment, that we believe to be reasonable under the circumstances. Actual results could differ from those estimates. On an on-going basis, management evaluates its estimates, judgments, and assumptions. The most significant estimates and assumptions relate to useful lives of intangible assets, impairment assessment of intangible assets and goodwill and income taxes. A change in estimates, including a change in the overall market value of the Company, could require reassessments of the items noted above. Functional currency The majority of the Company and its subsidiaries revenue are denominated in the United States (U.S.) dolla …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 15 - SUBSEQUENT EVENTS Share-based compensation In January 2026, the Companys Chief Executive Officer approved, pursuant to the authority delegated by the compensation committee, the issuance of restricted stock units to be issued under our 2022 Plan. The total aggregate fair value of RSUs granted was $15.0 million, which constituted 1,299 thousand RSUs, which will vest over a service period of three years. Share Purchase Agreement signed between Mobileye Global and Mobileye Vision for the acquisition of 100% of Mentee Robotics shares On February 3, 2026, the Company and Mobileye Vision Technologies Ltd. (a wholly-owned indirect subsidiary of the Company) acquired 100% of the issued and outstanding stock of Mentee Robotics, pursuant to the Share Purchase Agreement. The Acquisition was approved by the Board, acting on the recommendation of a strategic transaction committee consisting of four disinterested directors (two of whom are independent). The Audit Committee of the Board also approved the Acquisition pursuant to the Companys Related Persons Transaction Policy. Intel, as the sole beneficial holder of the Companys issued and outstanding Class B common stock, also approved the Acquisition pursuant to the Companys Amended and Restated Certificate of Incorporation. Prof. Shashua recused himself from the Boards consideration and approval of the Acquisition. Prof. Amnon Shashua, President and CEO of the Company, is the Chairman, Co-Founder and a significant shareholder of …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

NOTE 13 - BUSINESS COMBINATIONS On February 3, 2026, the Company and Mobileye Vision Technologies Ltd. (a wholly-owned indirect subsidiary of the Company) acquired 100% of the issued and outstanding stock of Mentee Robotics, an AI-first humanoid robotics company, pursuant to the Share Purchase Agreement. The Share Purchase Agreement provided for an aggregate purchase price of $900 million, which consisted of (i) approximately $612 million in cash, and (ii) 26,279,824 shares of Class A common stock of the Company. The entirety of such Class A common stock (the Aggregate Stock Consideration) was allocated to the co-founders of Mentee Robotics, Prof. Amnon Shashua, Prof. Shai Shalev-Shwartz and Prof. Lior Wolf (the Mentee Founders). 10% of the Aggregate Stock Consideration is subject to a six month lock-up period pursuant to a Lock-Up Agreement. The remaining 90% of the Aggregate Stock Consideration was deposited with a deferred consideration trustee and will be released in equal portions twenty-four and forty-eight months after the closing date of February 3, 2026, subject to continued employment, or under certain circumstances affiliation, with the Company and its subsidiaries. Prof. Amnon Shashua received 37.83% of the total consideration, valued at approximately $341 million, paid evenly in cash and Class A Common Stock, and Prof. Shai Shalev-Shwartz received 13.07% of the total consideration, valued at approximately $118 million, paid evenly in cash and the Companys Class A …

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NOTE 6 - INCOME TAXES The Companys quarterly benefit (provision) for income taxes and the estimates of its annual effective tax rate, are subject to fluctuation due to several factors, principally including variability in overall pre-tax income and the mix of tax paying components to which such income relates. As the Company has jurisdictions that have sustained recent losses, a valuation allowance is required for deferred tax assets for which no benefit can be currently realized. The provision for income tax in the three months ended June 27, 2026, was $(4) million compared to a provision of $(6) million in the three months ended June 28, 2025. This change was primarily due to the reduction in deferred tax liability resulting from the goodwill impairment to the Mobileye reporting unit which was recorded in the first quarter of 2026, partially offset by a lower loss before income taxes in foreign jurisdictions. Benefit for income tax in the six months ended June 27, 2026 was $60 million compared to a provision for income tax of $(9) million in the six months ended June 28, 2025. This was primarily due to the deferred tax effect of $67 million attributed to goodwill impairment to the Mobileye reporting unit which was recorded in the first quarter of 2026. …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

New Accounting pronouncements Accounting Pronouncements adopted in the period In July 2025, the FASB issued Accounting Standards Update 2025-05, Financial Instruments Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (ASU 2025-05). ASU 2025-05 provides a practical expedient that all entities can use when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, Revenue from Contracts with Customers. Under this practical expedient, an entity is allowed to assume that the current conditions it has applied in determining credit loss allowances for current accounts receivable and current contract assets remain unchanged for the remaining life of those assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, including interim reporting periods within those fiscal years. Entities that elect the practical expedient and, if applicable, make the accounting policy election are required to apply the amendments prospectively. ASU 2025-05 did not have a material impact on the Companys consolidated financial statements. Accounting Pronouncements effective in future periods In November 2024, the FASB issued Accounting Standards Update 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expense (ASU 2024-03) , and Accounting Stand …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 7 - RELATED PARTIES TRANSACTIONS The Company has entered into a series of related party arrangements with Intel. For further description of the arrangements refer to Note 9 of the notes to the consolidated financial statements for the year ended December 27, 2025. Stock Compensation Recharge Agreement The Company entered into a stock compensation recharge agreement with Intel, which requires the Company to reimburse Intel for certain amounts, net of any related withholding tax, relating to the value of share-based compensation provided to the Companys employees for RSUs or stock options exercisable in Intel stock. The reimbursement amounts recorded as an adjustment to additional paid-in capital in the condensed consolidated statement of changes in equity were immaterial and $3 million for the three months ended June 27, 2026 and June 28, 2025, respectively, and $0.2 million and $4 million for the six months ended June 27, 2026 and June 28, 2025, respectively. Lease agreements Under lease agreements with Intel, the Company leases office space in Intels buildings. The costs are included in the condensed consolidated statements of operations and comprehensive income (loss) primarily on a specific and direct attribution basis. The leasing costs for the three months ended June 27, 2026 and June 28, 2025, were immaterial and $0.6 million, respectively, and immaterial and $1.3 million for the six months ended June 27, 2026 and June 28, 2025, respectively. Other services to a re …

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NOTE 9 - SEGMENT INFORMATION An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (CODM), or decision-making group, to evaluate performance and make operating decisions. The Company has identified its CODM as the Chief Executive Officer (CEO). The Companys organizational structure and management reporting supports two operating segments: Mobileye and Moovit. The CODM evaluates performance, makes operating decisions and allocates resources based on the financial data of these operating segments. Operating segments do not record inter-segment revenue. Mobileye is presented as a reportable operating segment and Moovit, which is a mobility-as-a-service company, is presented within Other as per ASC 280, Segment Reporting. The CODM uses segment performance to allocate resources to segments in the annual budget and forecasting process and also uses that measure to assess the segment performance. Segment performance is the operating income (loss) reported excluding the amortization of acquisition-related intangible assets, share-based compensation expense, R&D Law incentive grant related to ordinary income from sold RSUs, acquisition related expenses and impairment of goodwill. The measure of assets has not been disclosed for each segment as it is not regularly provided to the CODM. The accounting policies of the individual segments are the same as thos …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation These condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated financial statements have been prepared on the same basis as the Companys annual audited consolidated financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of the Companys financial information. We have a 52- or 53-week fiscal year that ends on the last Saturday in December. Fiscal year 2026 is a 52-week fiscal year; fiscal year 2025 was also a 52-week fiscal year. The results of operations for the three and six months ended June 27, 2026 shown in this report are not necessarily indicative of the results to be expected for the full year ending December 26, 2026. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended December 27, 2025. There have been no material changes in our significant accounting policie …

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NOTE 14 - SUBSEQUENT EVENTS Share-based compensation In July 2026, the Companys compensation committee approved the issuance of restricted stock units to be issued under our 2022 Plan. The total aggregate fair value of RSUs granted was $334.4 million, which consisted of 35,018 thousand RSUs, which will vest over a service period of two to three years. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing