Disclaimer and Cautionary Note Regarding Forward-Looking Statements

You are about to review presentations, webcasts, filings and other materials of Qualcomm Incorporated or its subsidiaries. We believe the information contained therein is accurate as of the date thereof. However, that information may be updated, amended, supplemented or otherwise modified by subsequent presentations, webcasts, filings, events or other materials.

In addition to historical information, these materials may contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding our business, product, technology, financial and acquisition strategies, priorities, plans, drivers, opportunities, outlook, estimates, targets and expectations; our growth opportunities, including in 5G, Handsets, RF front-end, Automotive and IoT, and our being well positioned to take advantage of those opportunities; our technologies, technology leadership and technology roadmap; our products, product performance, product leadership, product pipeline, product mix and product roadmap; new product releases, announcements and design wins; the benefits of our technologies, products, business model and early investments in research and development; our business and share trends, as well as market and industry trends and their potential impact on our business and our positioning to take advantage thereof; anticipated demand for our products and technologies; supply issues; pending acquisitions or other strategic transactions, and the anticipated timing, costs, benefits and business and financial impacts thereof; litigation or regulatory investigations or proceedings and the potential timing and resolutions of such matters, and the potential impact on our business and financial results; our capital return, stock repurchase and dividend programs; and our expectations, projections, estimates, forecasts and guidance related to, among others, revenues, earnings per share (EPS), margins, expenses, effective tax rates, tax benefits, share counts, seasonal trends and device sales or shipments, and the factors and assumptions underlying such expectations, estimates and guidance.

Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: the impact of the COVID-19 pandemic, and government policies and other measures designed to limit its spread; our dependence on a small number of customers and licensees, and particularly from their sale of premium-tier devices; our customers vertically integrating; a significant portion of our business being concentrated in China, which is exacerbated by U.S./China trade and national security tensions; our ability to extend our technologies and products into new and expanded product areas, and industries and applications beyond mobile handsets; our strategic acquisitions, transactions and investments, and our ability to consummate strategic acquisitions; our dependence on a limited number of third-party suppliers; risks associated with the operation and control of our manufacturing facilities; security breaches of our information technology systems, or other misappropriation of our technology, intellectual property or other proprietary or confidential information; our ability to attract and retain qualified employees, and to successfully operate under a hybrid working environment; the continued and future success of our licensing programs, which requires us to continue to evolve our patent portfolio and to renew or renegotiate license agreements that are expiring; efforts by some OEMs to avoid paying fair and reasonable royalties for the use of our intellectual property, and other attacks on our licensing business model; potential changes in our patent licensing practices, whether due to governmental investigations, legal challenges or otherwise; adverse rulings in governmental investigations or proceedings; our customers’ and licensees’ sales of products and services based on CDMA, OFDMA and other communications technologies, including 5G, and our customers’ demand for our products based on these technologies; competition in an environment of rapid technological change, and our ability to adapt to such change and compete effectively; failures in our products or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors; difficulties in enforcing and protecting our intellectual property rights; claims by third parties that we infringe their intellectual property; our use of open source software; the cyclical nature of the semiconductor industry, declines in global, regional or local economic conditions, or our stock price and earnings volatility; our ability to comply with laws, regulations, policies and standards; our indebtedness; and potential tax liabilities.

These and other risks are set forth in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission (SEC). Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.

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