Lam Research Investor Presentation — July 2018 - Lam Research Corporation

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Lam Research Corporation

June Quarter 2018 Financial Results

This presentation and the accompanying discussion contain “forward -looking statements” under U.S. securities laws. Forward -looking

statements include any statements that are not statements of historical fact. Examples of forward -looking statements include, b ut are not

limited to: (1) anticipated business, balance sheet, cash flow and financial measures and results, including guidance, whethe r on a GAAP or

non-GAAP basis; (2) economic, market, industry and industry segment expectations; and (3) our ability to successfully execute bu siness, capital

allocation, product and growth plans or strategies, or otherwise deliver value for customers and stockholders. Forward -looking statements

speak only as of the date they are made and are subject to risks and uncertainties that could cause actual results to differ materially from

those expressed, including the factors discussed in our filings with the Securities and Exchange Commission (“SEC”). You sho uldnot place undue

*Data are presented on a non -GAAP basis. Reconciliations of U.S. GAAP results to non -GAAP results can be found at the end of th is presentation.

Strongest fiscal year in our history►June quarter

Milestone revenues of $3.1 billion and

approximately $1 billion in operating income*

Discipline in customer spending and positive long -term outlook

►Customer spending indicates focus on their

profitability and sustainability

►Diverse demand drivers propelled by the increasing role of data and silicon and higher

aspirations by our customers

►Sustained opportunity for Lam driven by focus on

technology and productivity leadership,

Leveraging multi -product capabilities and disruptive technologies

Installed -base revenues for the year to date exceeded overall