Intel Investor Presentation — April 2020

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EARNINGS Presentation2Disclosures

This presentation contains non -GAAP financial measures. Earnings per share (EPS), gross margin, and operating margin, are presen ted on a non -

GAAP basis unless otherwise indicated, and this presentation also includes a non -GAAP free cash flow (FCF) measure. The Appendi x provides a

reconciliation of these measures to the most directly comparable GAAP financial measure. The non -GAAP financial measures disclos ed by Intel

should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. Please r efer to “Explanation

of Non -GAAP Measures” in Intel's quarterly earnings release for a detailed explanation of the adjustments made to the comparable GAAP

measures, the ways management uses the non -GAAP measures, and the reasons why management believes the non -GAAP measures provide

investors with useful supplemental information.

Statements in this presentation that refer to business outlook, future plans, and expectations are forward -looking statements th at involve a

number of risks and uncertainties. Words such as "anticipates," "expects," "intends," "goals," "plans," "believes," "seeks," "estimates," "continues,"

"may," "will," “would,” "should," “could,” and variations of such words and similar expressions are intended to identify such forward -looking

statements. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, incl uding statements

relating to total addressable market (TAM) or market opportunity, future products and technology and the expected availabilit y and benefits of

such products and technology, and anticipated trends in our businesses or the markets relevant to them, also identify forward -looking

statements. Such statements are based on management's expectations as of April 23, 2020 and involve many risks and uncertaint iesthat could