Lam Research Investor Presentation — July 2019

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© 2019 Lam Research Corp. | 7.31.2019 1

Lam Research Corporation

June Quarter 2019 Financial Results

July 31, 2019wide-16x9W -v2

© 2019 Lam Research Corp. | 7.31.2019 2Cautionary Statement Regarding Forward -Looking Statements

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; (3) product performance and changes in market share or

customer demands; and (4) our ability to successfully execute business, capital allocation, product and growth plans or stra tegies, or otherwise

deliver value for customers and stockholders. Forward -looking statements speak only as of the date they are made and are subjec t to risks and

uncertainties that could cause actual results to differ materially from those expressed, including the factors discussed in o ur filings with the

Securities and Exchange Commission (“SEC”). You should not place undue reliance on forward -looking statements. Lam undertakes no

obligation to update any forward -looking statements. wide-16x9W -v2

© 2019 Lam Research Corp. | 7.31.2019 3Business Review and Industry Outlook

President and Chief Executive Officerwide-16x9W -v2

© 2019 Lam Research Corp. | 7.31.2019 4Strong Execution in June 2019 Quarter

*Data calculated on a non -GAAP basis. Reconciliations of U.S. GAAP results to non -GAAP results can be found at the end of this presentationJune 2019

Quarter Results$2.36B

© 2019 Lam Research Corp. | 7.31.2019 5Industry Overview

2019 WFE spending view directionally unchangedFoundry spending tracking higher, with Memory spending incrementally

Foundry strengthening with migration toward advanced nodes

2019 WFE expected to be down in the mid to high teens percentage

© 2019 Lam Research Corp. | 7.31.2019 6RC Delay Heterogeneous IntegrationLam Leadership in Enabling 3D Scaling

Lam is uniquely positioned to deliver differentiated, customer -enabling technologiesDRAM 1z/1a node scaling

Ability to deposit highly

conformal low -k filmsStress Reduction

3D NAND layers scaling

Backside Deposition using

innovative single step

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