INTCIntel

Escrowed Shares Shares of Intel common stock held in escrow to be released to the U.S. Department of Commerce (DOC) as we perform and receive cash proceeds in connection with our CHIPS Act Secure Enclave agreement with the U.S. Government. If Escrowed Shares are not released from escrow at the end of the performance period, half of the shares will be released to the DOC with no consideration and the other half will be forfeited and cancelled. ESG Environmental, social, and governance EU European Union EUV Extreme ultraviolet lithography Exchange Act Securities Exchange Act of 1934 Fab Semiconductor manufacturing / wafer fabrication facilities 2024 Form 10-K Annual Report on Form 10-K for the year ended December 28, 2024 FPGA Field-programmable gate array GPU Graphics processing unit GlobalFoundries GlobalFoundries Inc. GRI Global Reporting Initiative High-NA EUV High Numerical Aperture Extreme Ultraviolet HPC High-performance computing IDM Integrated device manufacturer, a semiconductor company that both designs and builds chips Intel Intel Corporation IMS IMS Nanofabrication GmbH, a business within Intel Foundry that develops and produces electron-beam systems for the semiconductor industry Internet of Things Internet of Things market in which certain Intel and Mobileye products are sold IP Intellectual property IPO Initial public offering IPU Infrastructure processing unit, a programmable networking device designed to enable cloud and communication service providers to reduce overhead and free up performance for CPUs MaaS Mobility as a service MD&A Management's Discussion and Analysis Mentee Robotics Mentee Robotics Ltd. MG&A Marketing, general, and administrative NAND NAND flash memory NEX Networking and Edge operating segment nm Nanometer NPU Neural processing unit NVIDIA NVIDIA Corporation ODM Original design manufacturer OECD Organization for Economic Co-operation and Development OEM Original equipment manufacturer oneAPI Open, cross-architecture programming model that frees developers to use a single code base across multiple architectures PC Personal computer PowerVia Intel's backside power delivery technology that routes power connections to the back side of the chip through dedicated vias, separating power delivery from signal routing to reduce congestion, improve power efficiency, and enable better chip performance and design flexibility in advanced manufacturing nodes. PSU Performance stock unit RAN Radio access network Qualcomm Qualcomm, Inc. R&D Research and development RDFV Readily determinable fair value RibbonFET A Gate-All-Around (GAA) transistor technology developed by Intel that uses ribbon-shaped semiconductor nanosheets completely surrounded by the gate electrode. RISC-V Reduced Instruction Set Computer, version five RSU Restricted stock unit SaaS Software as a service SASB Sustainability Accounting Standards Board SCIP Semiconductor Co-Investment Program SEC US U.S. Securities and Exchange Commission Smart Capital Our Smart Capital approach accelerates progress on our strategy. This approach is designed Secure Enclave Secure Enclave program under the CHIPS Act Semiconductor Logic Chip The "brain" of electronic devices, processing information to enable us to adjust quickly to opportunities in the market, while managing our margin structure and capital spending. The elements of Smart Capital include capacity investments, government incentives, customer commitments, continued use of external foundries. SoC System on a chip, which integrates most of the components of a computer or other electronic system into a single silicon chip. We offer a range of SoC products in CCG, DCAI, and NEX. Our DCAI and NEX businesses offer SoCs across many market segments for a variety of applications, including products targeted for 5G base stations and network infrastructure SOFR Secured Overnight Financing Rate, a benchmark interest rate for US-dollar-denominated derivatives and loans, replacing LIBOR Systems foundry A service provider that offers end-to-end semiconductor manufacturing and design solutions TAM Total addressable market Tax Reform US Tax Cuts and Jobs Act TCFD Task Force on Climate-Related Financial Disclosures TSR Total stockholder return US GAAP US Generally Accepted Accounting Principles US Pension Plan US Intel Minimum Pension Plan US Retiree Medical Plan US Postretirement Medical Benefits Plan VIE Variable interest entity vRAN Virtualized radio access network xPU Processors that are designed for one of four major computing architectures: CPU, GPU, AI accelerator, and FPGA complete tasks

To compete successfully, we must maintain an effective R&D program, develop new products and manufacturing processes, improve our products and processes, processes and make significant capital investments in new and existing manufacturing facilities, all ahead of competitors and market demand. The R&D efforts and capital investments we require are intensive significant as we compete across both product and process technologies and we may not have the ability to fund such investments at the level needed to be competitive. We incurred R&D expenses of $13.8 billion in 2025, $16.5 billion in 2024, 2024 and $16.0 billion in 2023 and $17.5 billion in 2022. 2023. We are focusing our R&D efforts across several key areas, including process and packaging technology, our xPU products and features, AI, AI and software. These include ambitious initiatives, such as our efforts to introduce five new manufacturing process technologies, or nodes, in four years and our unified oneAPI portfolio of developer tools. Our investments are typically long-term and, even where successful, often do not contribute to our operating results for a number of years. We cannot guarantee that our efforts will deliver the benefits we anticipate, including as a result of our new products or technologies falling short of expectations or the offerings of competitors. For example, In recent years, we previously experienced significant have had a number of delays in the implementation release of new products, including as a result of defects or errata, late changes to features due to customer requests, or other design challenges for our products. We have similarly had delays in our development of new process technologies and advanced packaging techniques, including with respect to performance and yield. These delays have allowed competitors using third-party foundries, such as TSMC, to benefit from advancements in manufacturing processes introduced ahead of us, including improvements in performance, energy efficiency and other features, which have helped increase the competitiveness of their products. We also missed the significant shift in compute demand to GPUs optimized for AI workloads and have been unsuccessful to date in becoming a meaningful participant in that market while certain of our 10nm process technology, key competitors have been highly successful in that market. Our most recent efforts to compete in the accelerator market with our Gaudi AI accelerators was unsuccessful, as a result of which we recognized Gaudi AI accelerator inventory-related charges of $375 million in 2025 and during 2020, we announced that our 7nm process technology would be delayed relative to our prior expectations. In such instances where $922 million in 2024. To the extent we do not timely introduce new products and manufacturing process technologies that improve performance, performance per watt, transistor density, die utilization, core counts, counts and/or new features such as optimizations for AI and other workloads, with sufficient manufacturing yields and operational efficiency, relative to competitors and competing foundry processes, we have faced and will face cost, product performance, performance and time-to-market disadvantages relative to our competitors. This has in the past and may in the future result in higher operating costs, including as a result of additional costs from unused manufacturing capacity, higher leverage and borrowing costs, costs and pressure on our credit ratings, and adversely affect our business, financial condition and prospects. Further, we are not always able to timely or successfully develop new products, including as a result of bugs, late changes to features due to customer requests, or other design challenges. For example, in 2022, we announced that the release of Intel's 4th Gen Intel Xeon Scalable processor would be delayed from the first half of 2022 to the second half of 2022. To the extent our R&D efforts do not develop new products on schedule with improvements in areas like performance, performance per watt, die utilization, and core counts, and/or with new features such as optimizations for AI and other workloads, our competitive position can be harmed. We have adopted a disaggregated design approach for some of our future products, in which different processors and components can be manufactured on different processes and connected by advanced packaging technology into a single package. This approach introduces new areas of complexity in design and manufacturability, particularly in the deployment of advanced packaging technologies, several of which are novel, have a limited manufacturing history, and/or have increased costs. Delays or failures in implementing disaggregated designs could adversely affect our ability to timely introduce competitive products. For example, adapting a processor or component design for a new or different manufacturing process involves additional R&D expense and can result in delays in the development of the associated product and higher costs due to the utilization of more advanced and expensive capital equipment. ratings.

Our reporting units substantially align with our operating segments. We reevaluate our identified reporting units annually or when triggered, such as upon reorganization of our operating segments. We perform an annual impairment assessment of goodwill at the reporting unit level in the fourth quarter of each year, or more frequently if indicators of potential impairment exist. We have five reporting units with allocated goodwill, which generally align to our operating segments. We reevaluate our identified reporting units annually or when triggered, such as upon reorganization of our operating segments or due to business reasons that result in material changes as to how our reporting units are organized and managed. Impairment assessments may be qualitative or quantitative in nature. A quantitative assessment is required if we determine, based on a qualitative assessment, that it is more likely than not that a reporting unit’s fair value is less than its carrying value, or if there are material changes to the structure of our reporting units. The reporting unit's carrying value used in an impairment assessment represents the assignment allocation of various assets and liabilities, excluding certain corporate assets and liabilities, such as cash, investments, investments and debt. The impairment assessment may include both qualitative and quantitative factors to assess the likelihood of an impairment.