Slide 1: Q1 Earnings April 24th, 2025
Slide 2: Earnings Presentation: Lip-Bu Tan and David Zinsner
cena eee a cous Ae arnings Presentation Lip-Bu Tan David Zinsner Chief Executive Officer Executive Vice President and Chief Financial Officer intel.
Slide 3: Non-GAAP Financial Measures and Forward-Looking Statements
Non-GAAP Financial Measures and Forward-Looking Statements * This presentation contains non-GAAP financial measures. Intel gross margin percentage, operating income, earings per share attributable to Intel, and adjusted free cash flow, including year-over-year comparisons, are presented on a non-GAA
Slide 4: Executive Summary
Executive Summary Revenue, Gross Margin and EPS above expectations il olid Q1 Financial Results =" a = — + J ntel uaa Improving our Execution | if ai Eliminating complexity. Refocusing portfolio. Reducing costs. Bi = Building the New Intel es Reigniting Innovation. Engineering focused. Customer Firs
Slide 5: Driving Execution & Innovation
——— 5 pat Driving Execution & Innovation: fey Refocus on Core Product Franchise Valuable & durable client and data center computing ecosystem Refine our Al Strategy \s Focus on emerging areas of disruption Build Trust with Foundry Customers Deliver on time across power, performance, area and cost =
Slide 6: Q1 Financial Highlights
Ol Financial Highlights $12.7B Revenue Down 0.4% YoY $0.5B above Jan outlook! 1 Comparisons are based on the mid-point of revenue outlook 2 Non-GAAP results shown; GAAP gross margin 36.9%, down 4Ippts YoY 3 Non-GAAP results shown; GAAP EPS ($0119), down $01 YoY 39.2% Gross Margin 2 Down 5.9 ppts YoY
Slide 7: Q1 above expectations on Data Center strength and spending discipline
-—« ¢ #5 ($B) Ql above expectations on Data Center strength, favorable product mix and spending discipline qr24 Qz24 Q3'24 Q4'24 ras mmm Revenue ——= GM% (non-GAAP)! (mmm Op Income/Loss (non-GAAP)? i ~ 1 GAAPGM%:Q1'24 410%, 02'24 35.4%, 03°24 15.0%, 04'24 39.2%, 0125 36.9% 2 GAAP OpIncome/Loss: Q1'24
Slide 8: CCG and DCAI results
CCG ial DCAI a ee Qr24 Qz24 9324 Q4'24 gras r24 Q224 Q3'24 94°24 Qr25 Client results in line with expectations on higher volume Data Center better than expected on hyperscaler Al host offset by product mix & competitive environment CPUs and storage compute intel.
Slide 9: Intel Foundry
intel foundry ($8) Ramping Intel 18A to support “aa | ‘ as a7 first Panther Lake SKU by year | a | | co | C7 cy] os intel foundry Direct Connect April29 San Jose, CA Qr24 Q2'24 Q3'24 Q4'24 Qr25
Slide 10: All Other
All Other = Mobileye Ist major design win for Surround ADAS platform = Altera planned majority stake sale to Silver Lake = IMS deliveries above expectations gra Q2'24 Q3'24 Q424 rs lm Revenue ME Opincome/Loss “=== OM% The “Alll Other’ category includes the results of operations from other non-report
Slide 11: Outlook
Outlook
Slide 12: Q2 2025 Outlook
O2 2025 Outlook S1.2-12.4B 36.5% SO.00 Revenue Gross Margin Bes Down $1.0B YoY! Down 2.2 ppts YoY! Down $0.02 YoY! 1. Revenue growth comparison, non-GAAP gross margin outlook and non-GAAP EPS attributable to Intel outlook based on the mid-point of the revenue range intel.
Slide 13: Appendix
Appendix
Slide 14: Recast Segment Results (2024-2023)
Recast Segment Results (2024-2023) FY 2024 Intel Products Total intel Corporate Intersegment Total (in Millions) CCG DCAI Products __IntelFoundry _ AllOther Unallocated Eiiminations Consolidated Revenue $ 33346 $ wes $ aan $ vw37 $ 3,601 $ = $ (7.288) $ 5a Cost of sales 15,943 8382 24,325 25,386 165
Slide 15: Intel Products
Intel Products (in Millions) cos DCAI __Totalintel Products _ intel Foundry AllOther Unafocated Eiminations Total Consolidated Revenue $ 8273 $ 3828 $F 0 4306 $ os $ — $ G3) $ 724 Cost of sales 4,004 745, 5749 5617 34l 701 (4,901) 7507 Operating expenses 1447 1666 3m3 uso. 472 1486 35 6 Operating in
Slide 16: seee eee
seee eee (in Billions, Except Percentages and Per Share Amounts) GAAP gross margin percentage Non-GAAP gross margin percentage GAAP operating income (loss) Acquisition-related adjustments Share-based compensation Restructuring and other charges Non-GAAP operating income (loss) GAAP eamings (loss) pe
Slide 17: Reconciliation of Non-GAAP Outlook
Reconciliation of Non-GAAP 02 Outlook Q22025 Outlook! Q22024 Actuals Approximately (GAAP gross margin percentage 33% 354% Acquisition-related adjustments 0.9% 17% Share-based compensation 13% 15% Non-GAAP gross margin percentage 365% 387% GAAP eamings (loss) per share attributable to Intel—diluted $
Slide 18: Reconciliation of Other Non-GAAP Forward-Looking Estimates
Reconciliation of Other Non-GAAP Forward-Looking Estimates (in Billions) Ful-Year2025__ Full-Year 2026 Approximately Approximately GAAP additions to property, plant and equipment (gross capital expenditures) $180 Proceeds from capital-related government incentives (3.0-5.0) Partner contributions, ne
Slide 19: Reconciliation of Non-GAAP Adjusted Free Cash Flow
Reconciliation of Non-GAAP Adjusted Free Cash Flow (in Billions) Q12025 GAAP net cash provided by (used for) operating activities $08 Additions to property, plant, and equipment (gross capital expenditures) (2) Proceeds from capital-related government incentives os Partner contributions, net 09 Net