Intel Investor Presentation — October 2020

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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 Appendix provides a reconciliation of these

measures to the most directly comparable GAAP financial measure. The non -GAAP financial measures disclosed by Intel should not b e considered a substitute

for, or superior to, the financial measures prepared in accordance with GAAP. 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 -GAA P 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," "estimate," "continue,“ “ com mitted,” “on -track,” ”positioned,”

“launching,” "may," "will," “would,” "should," “could,” “to be,” and variations of such words and similar expressions are int ended 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 impacts of the COVID -19 pandemic; future macroeconomic conditions; future products and technology

and the expected availability and benefits of such products and technology, including with respect to our 10nm and 7nm proces s technologies, products and

product volumes; the pending sale of our NAND memory business to SK hynix , including its future financial impacts; the settlement of our accelerated share