Team Member Meetings - Intel

Safe Harbor During the course of this meeting, we may make projections or other forward-looking statements regarding future events or the future financial

performance of the Company and the industry. We wish to caution you that such statements are predictions and that actual events or results may differ materially. We refer you to the documents the Company files on a consolidated basis from time to time with Securities and Exchange

Commission, specifically the Company’s most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause the actual results for the Company on a consolidated basis to differ materially from those contained in our projections or forward-looking

statements. These certain factors can be found at http://www.micron.com/certainfactors. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or

achievements. We are under no duty to update any of the forward-looking statements after the date of the presentation to conform these statements to actual results. January 24, 2012

©2012 Micron Technology, Inc.

|

2

2011 Annual Meeting of Shareholders Steve Appleton Chairman and Chief Executive Officer

©2012 Micron Technology, Inc. All rights reserved. Products are warranted only to meet Micron’s production data sheet specifications. Information, products, and/or specifications are subject to change without notice. All information is provided on an “AS IS” basis without warranties of any kind. Dates are estimates only. Drawings are not to scale. Micron and the Micron logo are trademarks of Micron Technology, Inc. All other trademarks are the property of their respective owners.

January 24, 2012


|

4

Micron Has Emerged as an Industry Leader ►

Recognized need for strategic change (shifted resources to focus on NAND)

►

Leveraged technology expertise (organic and joint development agreements)

►

Efficient capital deployment (cost effective M&A and partnerships)

►

Product portfolio expansion (most comprehensive in the industry)

►

Managed balance sheet to participate in industry consolidation

TI

Toshiba DRAM

IMFT

Lexar

Nanya/MeiYa

Numonyx

Inotera

1998

2002

2006

2006

2008

2010

* Analyst Consensus Estimates for 2010 January 24, 2012


|

5

Income Statement Period Ended

FY-11

Net Sales

$

FY-10

8,788

$

8,482

Gross Margin

1,758

2,714

GM %

20%

32%

791

624

9%

7%

592

528

7%

6%

(380)

(27)

755

1,589

R&D

R&D % SG&A SG&A % Other Operating (Income) Expense Operating Income Net Income Attributable to Micron Diluted Earnings Per Share

$

167 $0.17

$

1,850 $1.85

Selected Financial Information

January 24, 2012


|

6

Balance Sheet FY-11 Cash & Investments

$

FY-10

2,160

$

2,913

Receivables

1,497

1,531

Inventories

2,080

1,770

5,832

6,333

7,555

6,601

483

582

$ 14,752

$ 14,693

$

$

Total Current Assets Property, Plant and Equipment

Equity Method Investments Total Assets Payables, Accrued Expenses & Deferred Income

Current Portion of Long-Term Debt Total Current Liabilities Long-Term Debt Total Liabilities Noncontrolling Interests in Subsidiaries Total Equity Total Liabilities and Equity

2,340

1,990

140

712

2,480

2,702

1,861

1,648

4,900

4,877

1,382

1,796

9,852

9,816

$ 14,752

$ 14,693

Selected Financial Information. FY-11 as of 9/1/2011. FY-10 as of 9/2/2010. January 24, 2012


|

7

Cash Flow From Operations Dollars in Millions Micron

Market

$1,077

$943

$732

$809 $589

$606

$354 $313

FQ4-10

FQ1-11

FQ2-11

All competitor data based on closest calendar quarter; Micron data based on fiscal quarters Source: Company Data, Micron Finance Strategy Group Estimates January 24, 2012

$410 $288

FQ3-11

FQ4-11

Market: Elpida, Hynix, Nanya, Powerchip, SanDisk and Winbond Represented by a weighted average of competitors’ respective operating cash flows ©2012 Micron Technology, Inc.

|

8

DRAM and NAND ASP Premiums – Micron Compared to Peers Trade NAND ASP Premium Per GB Over Peers Peers

Micron Trade

ASPs per GB

Micron ASP Premium Over Peers

43% 32%

2%

-28%

-28%

F1Q09

F2Q09

-24%

F3Q09

-22%

F4Q09

-15%

-6%

F1Q10

F2Q10

F3Q10

F4Q10

Peers = Hynix, Samsung, SanDisk and Toshiba

F1Q11

28%

F2Q11

64% 39%

F3Q11

F4Q11

F4Q10 marks the beginning of sales of Numonyx NAND in volume

DRAM ASP Premium Per Gb Over Peers Peers 49% 29%

ASPs per Gb

53%

35%

27%

Micron 24%

24% 31%

29%

29%

34% 31%

F1Q09

F2Q09

F3Q09

F4Q09

F1Q10

Peers = Elpida, Hynix, Nanya and Samsung Source: Company Data, Micron Finance Strategy Group Estimates January 24, 2012

F2Q10

F3Q10

F4Q10

F1Q11

F2Q11

F3Q11

F4Q11

All competitor data based on nearest calendar quarter. Micron data based on fiscal quarter ©2012 Micron Technology, Inc.

|

9

Gross Margins (Most Recent Quarter)

20%

15%

13% 5%

0%

-20%

-43%

-40%

-60%

-60%

-61%

-80%

-90% -100% Micron FQ1-12

Winbond CQ3-11

Hynix CQ3-11

Elpida CQ3-11

Inotera CQ4-11

Powerchip CQ3-11

Nanya CQ4-11

Source: Company Data, Finance Strategy Group January 24, 2012


|

10

Gross Cash Position (Most Recent Quarter)

$2,500

$2,000

$1,915

$1,841

Millions of US$

$1,500

$1,405

$1,000

$500

$237

$185

$170

$45

Inotera CQ4-11

Winbond CQ3-11

Powerchip CQ3-11

$0 Micron FQ1-12

Hynix CQ3-11

Elpida CQ3-11

Nanya CQ4-11



|

11

Cash to Short-Term Debt (Most Recent Quarter)

Cash to ST Debt = Cash / (Short-term Borrowings + Current Portion of LT Debt)

14.0x

13.1x 12.0x

10.0x

8.0x

6.0x

4.0x

2.0x

0.0x Micron FQ1-12

0.7x

0.6x

0.5x

Hynix CQ3-11

Elpida CQ3-11

Winbond CQ3-11

0.2x

0.1x

0.1x

Inotera CQ4-11

Nanya CQ4-11

Powerchip CQ3-11



|

12

Debt to Capital Ratio (Most Recent Quarter)

120%

Debt to Capital = (LT Debt + Current Portion of LT Debt + ST Borrowings) / (LT Debt + Current Portion of LT Debt + ST Borrowings + Balance Sheet Equity + Minority Interest)

100%

97% 80%

74% 64%

60%

55% 46%

40%

34% 20%

18%

0% Micron FQ1-12

Winbond CQ3-11

Hynix CQ3-11

Elpida CQ3-11

Inotera CQ4-11

Powerchip CQ3-11

Nanya CQ3-11

Nanya CQ4-11 shareholder’s equity not reported



|

13

Increased Market Focus and Customer Engagement Chairman & CEO President & COO

Sales Operations and Supply Chain R&D (Memory Architecture, Process R&D, Engineering)

DRAM Solutions

NAND Solutions

Embedded Solutions

DRAM sold to:

NAND sold to:

DRAM, NAND, & NOR sold to:

DRAM, NAND, & NOR sold to:

• PC • Consumer Electronics • Networking • Server

• Data Storage

• Automotive • Industrial

• Mobile devices

Procurement

• Personal Music Players • Foundry sales to Intel (IMFT/IMFS)

Wireless Solutions

NAND & NOR sold to: • Consumer Electronics • Networking & Storage • PC, Server

Corp. Dev., Finance, HR, Integration, Legal

January 24, 2012


|

15

FY 2011 DSG Highlights  Achieved #1 networking supplier position

Segment Leadership

 Increased server ships by 60% annually (CQ4-CQ4)  Drove >100% YoY increase in shipments to Consumer segment  Launched Hybrid Memory Cube (HMC);

Voted MPR’s Technology-of-the-Year

Innovative Designs

 Drove new standard on tablet / ultrabook cost-optimized DRAM:

“DDR3LM”

 Shipped world’s first Reduced Latency 3 product (“RL3”), and

load-reduced DIMMs (LR-DIMM) to enable next-generation enterprise products

Cost Reduction

 Launched and ramped 30nm DRAM ramp  Developed 20nM DRAM process for 2012 production start

January 24, 2012


|

16

FY 2011 NSG Highlights  64Gb 25nm MLC product now fully qualified in all NAND fabs

Components

 Great traction with Micron ClearNAND™ flash, including engagements

with top-tier PC OEMs and chipset suppliers for tablet designs

 Ramping our industry leading 20nm technology into production

Client Solid-State Drives

 Shipped more than 742K drives in 2011; on track to break 2M units

before summer 2012

 Announced the C400 self-encrypting drive (SED), providing strong

hardware protection for data breaches and theft

 Started shipping RealSSD™ P400e

Enterprise Solid-State Drives

Micron’s first MLC drive for entry-level enterprise solutions

 Announced & started qualifying Micron’s first PCIe product - P320h  In qualification with the top five enterprise storage OEMs

January 24, 2012


|

17

FY 2011 WSG Highlights  Enhanced leadership in NOR Flash increasing share in a globally

declining Market

Business overview

 Gaining traction in SmartPhone and Tablet with MCP and eMMC

exploiting Micron leading edge NAND Technology

 Introduced the initial Phase-Change-Technology (PCM) Feature Phone

platform for volume ramp-up in 2012

 Achieved high share in eMMC delivery for the Kindle Fire Tablet

Operation

 Started shipping NOR 45nm/200mm in large volume to a major OEM.

Migration to 300mm in progress

 Initiated PCM development in 300mm

 Mobile RAM migration to 3x technology, to close the gap, progressing.

Focus on Innovation

Volume production starting by middle 2012

 Defined and started executing the eMMC advanced controller

roadmap to serve SmartPhone and Tablet high performance needs.

 Preliminary work on 2x PCM architecture started January 24, 2012


|

18

FY 2011 ESG Highlights  Sampled industry’s first 45nm embedded NOR product (4Gbit)

Products

 Delivered 512Mb and 1Gb Automotive grade LP SDR & DDR products  Launched industry’s broadest 65nm SPI NOR offering (8Mbit to1Gbit)

 Launched Product Longevity Program targeting Automotive, Medical

and Industrial Segments

Segments

 Extended DRAM market share leadership in automotive  Delivered 25nm-based 64GByte automotive eMMC (NAND) samples

for growing infotainment market

 Strong operating margin on $1B in revenue

Operations

 Implemented ISO TS 16949 certification roadmap  Fully converted to Micron’s technology supporting legacy Numonyx

products

January 24, 2012


|

19

Business Unit Financial Summary DSG

FY2011

Dollars in Millions

Sales

$3,203

Operating Income

$290

Operating Income %

NSG

9.1% FY2011

Dollars in Millions

Sales

$2,196

Operating Income

$269

Operating Income %

12.2%

WSG

FY2011

Dollars in Millions

Sales

$1,959

Operating Income

$20

Operating Income %

1.0%

ESG

FY2011

Dollars in Millions

Sales

$1,002

Operating Income

$237

Operating Income %

23.7% January 24, 2012


|

20

Capture

Store

January 24, 2012

Share


|

22

Capture

2000 2010 Still Images

.0013

4.7

Video

1.6

767

(B GB)

(B GB)

Still Images – IDC, Micron Video – IDC, Micron CMOS Image Sensors – Gartner, Micron January 24, 2012


|

23

1,676 exabytes of information created in

2011

Equivalent to about 136,000 books per human being

Source: IDC/EMC January 24, 2012


|

24

Store

Information Storage Capacity (Exabytes)

2000

2011

~55

~1,600

1,000,000,000,000,000,000

Information Storage: Science Magazine, April 2011, Micron Internal Estimates January 24, 2012


|

25

NAND in New Applications Drives Significant Bit Growth 2012 – 2015 NAND Bit CAGR

160

140

Tablets

97%

120 80%

GB (B)

100

SSD

2012 – 2015 Total NAND Bit CAGR: 63%

80

MP3 USB DSC/VIDEO

60

22% 48% 42%

Mobile

54%

PC/Comp (Non-SSD)

76%

Embedded, AIMM

59%

40

20

0 2007

2008

2009

2010

2011

2012

2013

2014

2015

Source: Gartner 4Q11; Cards included in Mobile and DSC January 24, 2012


|

26

Share

2000

2010

Total Broadband Subscriptions (B)

.016

1.39

Online Video Views (B)