Intel : Earnings Presentation Q3 2021

3rd Quarter

Earnings Presentation

Pat Gelsinger

Chief Executive Officer

George Davis

Executive Vice President and Chief Financial Officer

• This presentation contains non-GAAP financial measures. Intel revenue, gross margin, and earnings per share are presented on a non-GAAP basis unless otherwise indicated. 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 be 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-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, plans, and expectations are forward-looking statements that involve risks and uncertainties.
  Words such as "anticipate," "expect," "intend," "goal," "plans," "believe," "seek," "estimate," "continue," "committed," "on-track," "positioned," "ramp," "momentum," "roadmap," "pipeline," "progress," "forecast," "likely," "guide," "potential," "future," "next-gen," "may," "will," "would," "should," "could," and variations of such words and similar expressions are intended to identify such forward-looking statements. Statements that refer to or are based on estimates, forecasts, projections, uncertain events or assumptions, including statements relating to Intel's strategy; manufacturing expansion and investment plans; financial projections; future dividends and returns to shareholders; plans and goals related to Intel's foundry business; total addressable market (TAM) and market opportunity; future impacts of the COVID-19 pandemic; future legislation; future products, technology, and services, and the expected availability and benefits of such products, technology, and services, including product ramps, Sapphire Rapids and Alchemist timing, and manufacturing plans, goals, timelines, and future progress, including expectations regarding process performance parity and leadership and process technology timelines issued in July 2021; pending transactions including the pending sale of our NAND memory business; supply expectations, including regarding industry shortages and sufficiency of future supply; future external foundry usage; expectations regarding customers, including designs, wins, orders, and partnerships; projections regarding competitors; business plans and financial expectations; and anticipated trends in our businesses or the markets relevant to them, including future demand and industry growth, also identify forward-looking statements. Such statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Important factors that could cause actual results to differ materially are set forth in Intel's earnings release dated October 21, 2021, which is included as an exhibit to Intel's Form 8-K furnished to the SEC on such date, and in Intel's SEC filings, including the company's most recent reports on Forms 10-K and 10-Q. Copies of Intel's SEC filings may be obtained by visiting our Investor Relations website at www.intc.com or the SEC's website at www.sec.gov.
• All information in this presentation reflects management's views as of October 21, 2021. Intel does not undertake, and expressly disclaims any duty, to update any statement made in this presentation, whether as a result of new information, new developments or otherwise, except to the extent that disclosure may be required by law.

2

YoY growth in revenue and EPS

Record Q3 revenue in DCG and Mobileye, all-time record revenue in IOTG

Demand remains strong across all segments

Double-digit 2021 PC TAM growth; robust enterprise server and IOTG recovery

Executing on IDM 2.0 strategy today

On or ahead of process tech timelines laid out in July; broke ground on AZ fabs

3

Tiger Lake	Alder Lake	Ice Lake	Sapphire Rapids
Fastest ramping notebook ever	First performance hybrid design,	1M+ units shipped	Expecting production in Q1
	now shipping to customers

4

At-Scale Manufacturing	Strategic Use of Foundries	World-Class Foundry
Broke ground on our Arizona fabs	Leveraging unique capabilities	Shipped first revenue units,
three months ahead of schedule	for Meteor Lake and Ponte Vecchio	awarded initial phase of RAMP-C program

5