Item 7.01. Regulation FD Disclosure.

Exhibit 99.1 of this Form 8-K contains the prepared remarks for IBM's Chairman and Chief Executive Officer Arvind Krishna and Chief Financial Officer Jim Kavanaugh's first-quarter 2022 earnings presentation to investors on April 19, 2022.

Reconciliations of non-GAAP financial measures discussed in the earnings presentation to the most directly comparable financial measures calculated and presented in accordance with GAAP are included as Exhibit 99.2 of this Form 8-K, and include the updated slide on the company's expectation for pre-tax margin improvement from the second quarter of 2021 to the second quarter of 2022 that was Exhibit 99.1 to the Amended Form 8-K submitted to the SEC on April 20, 2022 (the "Updated Slide"). The slides used in Messrs. Krishna and Kavanaugh's first-quarter 2022 earnings presentation are Exhibit 99.3 to the company's Form 8-K submitted to the SEC on April 19, 2022, which were corrected with the Updated Slide.

The information in this Item 7.01, including the corresponding Exhibits 99.1 and 99.2, is being furnished with the Commission and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), with the exception of the following information from the question and answer period of the earnings presentation, which has been edited to provide additional context and clarity, and shall be deemed "filed" under the Exchange Act:

The company expects a sequential increase of approximately $1.1 billion in

revenue from the first quarter of 2022 to the second quarter of 2022. This is

? approximately $200 million more than our historical first quarter to second

quarter sequential increase, driven by the launch of the IBM z16 system late in

the second quarter of 2022, mitigated by a currency headwind due to the U.S.

dollar strengthening.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are being furnished as part of this report:



Exhibit No.                      Description of Exhibit
99.1           Prepared Remarks of Earnings Presentation on April 19, 2022
99.2           Non-GAAP Supplemental Materials

The following exhibit is being filed as part of this report:



Exhibit No.                           Description of Exhibit
104            Cover Page Interactive Data File - the cover page interactive data
               file does not appear in the
               Interactive Data File because its XBRL tags are embedded within the
               Inline XBRL document

IBM's web site (www.ibm.com) contains a significant amount of information about IBM, including financial and other information for investors (www.ibm.com/investor/). IBM encourages investors to visit its various web sites from time to time, as information is updated and new information is posted.



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