Tower Semiconductor Announces All Manufacturing Sites Operational Following Cyber Event

MIGDAL HAEMEK, Israel - September 10, 2020 - Tower Semiconductor (NASDAQ/TASE: TSEM), today announced that all of its manufacturing sites are operational, targeting full capability within the next few days, an effective recovery from the cyber event announced on September 6, 2020.

Due to immediate and effective procedures, Tower is confident of the functional quality of the work in progress and production line inventories, with Company and customer data remaining protected. Due to the manufacturing disruption, the Company expects some level of impact to its third quarter results.