1Adjusted gross profit, adjusted operating profit (loss), adjusted net income (loss), adjusted diluted EPS, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the section "Unaudited Reconciliation of IFRS to Adjusted non-IFRS" below.

Summary of Second Quarter 2022 Outlook (unaudited, in millions USD except per share amounts) ¹

	IFRS			Share-based compensation		Non-IFRS Adjusted
Net revenue	$1,955 - $1,985			—		—
Gross Profit	$470 - $504			$27 - $33		$503 - $531
Gross Margin (mid-point)	24.7%					26.2%
Operating Profit	$206 - $251			$54 - $66		$272 - $305
Operating Margin (mid-point)	11.6%					14.6%
Net Income	$169 - $211			$54 - $66		$235 - $265
Net Income Margin (mid-point)	9.6%					12.7%
Diluted EPS	$0.31 - $0.38					$0.43 - $0.48
Adjusted EBITDA	—			—		$705 - $745
Adj. EBITDA Margin (mid-point)						36.8%

¹The guidance provided above contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995, and is subject to the safe harbors created therein. The guidance includes management’s beliefs and assumptions and is based on information currently available. GF has not provided a reconciliation of its Second Fiscal Quarter outlook for adjusted Non-IFRS EBITDA and related Margin because estimates of all of the reconciling items cannot be provided without unreasonable efforts. Certain factors that are materially significant to GF’s ability to estimate these items cannot be reasonably predicted.

Unaudited Consolidated Statements of Operations