Slide 1: Q4 Earnings
Q4 Earnings January 22nd, 2026
Slide 2: 4th Quarter Earnings Presentation
4th Quarter Earnings Presentation Lip-Bu Tan David Zinsner Chief Executive Officer Chief Financial Officer
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, earnings per share attributable to Intel, net capital expenditures and adjusted free cash flow, including year-over-year comparisons,
Slide 4: Executive Summary
Executive Summary Built Strong Foundation in 2025 Strengthened balance sheet, forged strong partnerships, right-sized the organization Q4 Results a Positive Step Forward Revenue, GM, EPS above expectations with demand far outpacing supply AI Driving Significant Opportunity Across Our Portfolio Core
Slide 5: Q4 Financial Highlights
Q4 Financial Highlights $13.7B 37.9% $0.15 Revenue Gross Margin 2 EPS 2 Down 4.1% YoY Down 4.2 ppts YoY 2 Up $0.02 YoY 2 $0.4B above Oct outlook 1 1.4 ppts above Oct outlook 1 $0.07 above Oct outlook 1 1 Comparisons are based on the mid-point of revenue outlook 2 Non-GAAP results shown; GAAP gross m
Slide 6: AI driving growth across our businesses; demand outpacing supply
($B) AI driving growth across our businesses $14.3 $13.7 $13.7 $12.7 Demand outpacing supply $12.9 across server and client 42.1% 40.0% 39.2% 37.9% 29.7% Meaningful improvement in cash and liquidity $1.4 $1.5 $1.2 $0.7 -$0.5 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Revenue GM% (non-GAAP) 1 Op Income/Loss (non-
Slide 7: CCG and DCAI segment results
CCG Segment Revenue Segment Op Income DCAI Segment Revenue Segment Op Income Segment OM% Segment OM% ($B) ($B) $8.8 $8.5 $4.7 $8.2 $7.9 $4.4 $7.6 $4.1 $4.1 $3.9 36.4% 30.9% 31.6% 23.4% 26.4% 26.1% 27.0% 13.9% 16.1% 8.6% $3.2 $2.4 $2.7 $1.3 $2.1 $2.2 $1.0 $0.6 $0.6 $0.4 Q4’24 Q1’25 Q2’25 Q3’25 Q4’25
Slide 8: Intel Foundry segment results; launched products on Intel 18A
($B) Launched Products on Intel 18A – the most advanced $4.3 $4.7 $4.4 $4.2 $4.5 process node developed and manufactured in the US External wafer and packaging engagements continue to -$2.2 -$2.3 -$3.2 -$2.3 -$2.5 progress -51.8% -49.7% -54.8% -55.7% -71.7% Q4’24 Q1’25 Q2’25 Q3’25 Q4’25 Segment Reve
Slide 9: All Other
All Other ($M) Mobileye delivered 15% revenue growth and grew $1,113 operating income 45% $1,053 $993 $943 Altera deconsolidated in Q3, well positioned to drive long- 13.8% 10.9% 6.6% $574 term value creation 10.1% -1.4% $154 $103 $69 $100 -$8 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Segment Revenue Segment Op
Slide 10: Outlook
Outlook intel.
Slide 11: Q1 2026 Outlook
Q1 2026 Outlook $11.7-12.7B 34.5% $0.00 Revenue Gross Margin 1 EPS 1 Down $0.5B YoY 2 Down 4.7 ppts YoY 2 Down $0.13 YoY 2 1. Non-GAAP Gross Margin and non-GAAP EPS guidance provided; reconciliations in Appendix 2. Revenue growth comparison, non-GAAP gross margin outlook and non-GAAP EPS attributabl
Slide 12: Pe ee eG be
Pe ee eG be intel.
Slide 13: Appendix
Appendix
Slide 14: Reconciliation of Non-GAAP Actuals
Reconciliation of Non-GAAP Actuals Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 (In Billions, Except Percentages and Per Share Amounts) GAAP gross margin percentage 39.2% 36.9% 27.5% 38.2% 36.1% Acquisition-related adjustments 1.5% 0.9% 0.8% 0.7% 0.7% Share-based compensation 1.5% 1.4% 1.3% 1.0% 1.0% Non
Slide 15: Reconciliation of Non-GAAP Q1 2026 Outlook
Reconciliation of Non-GAAP Q1 2026 Outlook Q1 2026 Outlook1 Q1 2025 Actuals Approximately GAAP gross margin percentage 32.3% 36.9% Acquisition-related adjustments 0.8% 0.9% Share-based compensation 1.4% 1.4% Non-GAAP gross margin percentage 34.5% 39.2% GAAP earnings (loss) per share attributable to
Slide 16: Reconciliation of Non-GAAP Adjusted Free Cash Flow
Reconciliation of Non-GAAP Adjusted Free Cash Flow (In Billions) Q4 2025 GAAP net cash provided by (used for) operating activities $4.3 Additions to property, plant, and equipment (gross capital expenditures) (4.0) Proceeds from capital-related government incentives 0.5 Partner contributions, net 1.