INCOME TAXES (Tables)

6 Months Ended

May 03, 2026

Reconciliation of Effective Income Tax Rates from U.S. Statutory Tax Rates

The table below sets forth the primary reasons that the Company’s effective income tax rates differed from the U.S. statutory tax rates in effect during the periods ended May 3, 2026, and May 4, 2025.

Reporting Period	U.S. Statutory Tax Rates	Photronics Effective Tax Rates	Primary Reasons for Differences

Three months ended May 3, 2026	21.0%	19.7%	Non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and changes in uncertain tax positions in non-U.S. jurisdictions have been more than offset by the impact of tax credit in a non-U.S. jurisdiction.

Three months ended May 4, 2025	21.0%	19.1%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and changes in uncertain tax positions in non-U.S. jurisdictions.

Six months ended May 3, 2026	21.0%	19.4%	Non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and changes in uncertain tax positions in non-U.S. jurisdictions have been more than offset by the impact of tax credit in a non-U.S. jurisdiction.

Six months ended May 4, 2025	21.0%	23.0%	Non-recognition of the tax benefit of losses that, in certain jurisdictions, have been offset by valuation allowances, non-U.S. pre-tax income being taxed at higher statutory rates in the non-U.S. jurisdictions, and changes in uncertain tax positions in non-U.S. jurisdictions.

Unrecognized Tax Benefits

The table below presents information on unrecognized tax benefits as of the balance sheet dates.

	May 3, 2026		October 31, 2025
Unrecognized tax benefits related to uncertain tax positions	$	13,200	$	11,379
Unrecognized tax benefits that, if recognized, would impact the effective tax rate	$	13,200	$	11,379
Accrued interest and penalties related to uncertain tax positions	$	729	$	551