Intel Investor Presentation — January 2022

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Chief Executive Officer

Earnings Presentation

Executive Vice President and

Chief Financial Officer

2• This presentation contains non -GAAP financial measures. Intel revenue, gross margin, and earnings per share are presented on a n on-GAAP basis except

with respect to our Q1 2022 revenue outlook or as otherwise indicated. This presentation also includes a non -GAAP free cash flow (FCF) measure. The

Appendix provides a reconciliation of these measures to the most directly comparable GAAP financial measure. The non -GAAP financ ial measures

disclosed by Intel should not be considered a substitute for, or superior to, the financial measures prepared in accordance w ithGAAP. Please refer to

“Explanation of Non -GAAP Measures” in Intel's quarterly earnings release for a detailed explanation of the adjustments made to t he 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, plans, and expectations are forward -looking statements that invo lve risks and uncertainties.

Words such as "anticipate," "expect," "intend," "goal," "plans," "believe," "seek," "estimate," "continue,“ “committed,” “on -track,” ”positioned,” “ramp,”

“momentum,” “roadmap,” “pipeline,” “progress,” “forecast,” “likely,” “guide,” “potential,” “future,” "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, including statements relating to Intel’s strategy; manufacturing expansion and investment plans, including our