Intel Investor Presentation — July 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 present ed 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 "anticipate," "expect," "intend," "goals," "plans," "believe," "seek," "esti mate," "continue,“

“committed,” “on -track,” ”positioned,” “launching,” "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, project ions, uncertain

events or assumptions, including statements relating to total addressable market (TAM) or market opportunity, future products and technology

and the expected availability and benefits of such products and technology, including our 10nm and 7nm process technologies, products, and

product designs, and anticipated trends in our businesses or the markets relevant to them, also identify forward -looking stateme nts. Such