Intel Investor Presentation — October 2019

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EARNINGS Presentation2Disclosures

This presentation contains non -GAAP financial measures relating to our performance. You can find the reconciliation of these me asures to

the most directly comparable GAAP financial measure in the Appendix at the end of this presentation. The non -GAAP financial meas ures

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 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 por tfolio decisions

and proceeds, return of free cash flow, 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," "contin ues," "may," "will,"

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

Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statem ents relating to

total addressable market (TAM) or market opportunity, future products and technology and the expected availability and benefi ts 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 October 24, 2019 and involve many risks and uncertainties that c ould cause