Intel Investor Presentation — January 2020

Document content

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, including with respect to cap acity expansion and

stock repurchases, are forward -looking statements that 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 va riations 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, including statements relating to total addressable market (TAM) or market oppor tunity, future

products and technology and the expected availability 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 a s of January