Lam Research Investor Presentation — October 2018

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© 2018 Lam Research Corp. | 10.16.2018 1

Lam Research Corporation

September Quarter 2018 Financial Results

October 16, 2018wide-16x9W -v2

© 2018 Lam Research Corp. | 10.16.2018 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; 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

reliance on forward -looking statements. Lam undertakes no obligation to update any forward -looking statements. wide-16x9W -v2

© 2018 Lam Research Corp. | 10.16.2018 3Business Review and Industry Outlook

Chief Executive Officerwide-16x9W -v2

© 2018 Lam Research Corp. | 10.16.2018 4September Quarter Performance

*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. ►Revenues of $2.3 billion, operating income of $630

million*, and EPS of $3.36*

►Revenues, gross margin, and EPS all exceeded the mid -

point of our guidance

►Near-term outlook consistent with July commentary

© 2018 Lam Research Corp. | 10.16.2018 5►Strength in long -term drivers for data economy

enablement from the world of silicon

►2018 WFE expectations are up slightly year over year

►Compelling opportunities for Lam’s strength in Etch and

DepositionRational Industry Behavior

Committed to investment and innovation for the success

of our customers and for Lam

© 2018 Lam Research Corp. | 10.16.2018 6►Deposition

Keypenetrations ofnewfilms forpatterning, newspecialty applications,

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