2026财年第三季度财务业绩

FQ3 2026 Safe Harbor Statement During the course of this meeting, we may make projections or other forward-looking statements regarding market demand and supply, including drivers and timelines, our business model, including our strategic customer agreements, pricing trendsand drivers, the impact of AI on our industry and our business, our customers, our manufacturing projects, research anddevelopment efforts and related investments, expected timing ofproduction at our facilities, our market position, expected product releases, capabilities of our future products and technologies, and future financial and operating performance,including financial projections 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 from time to timewith the Securities and Exchange Commission, including the company’s Form 10-K, Forms 10-Q, and other reports and This presentation includes non-GAAP financial measures.Non-GAAP financial measures represent GAAP measures,excluding the impact of certain activities, which management excludes in analyzing our operating results and understandingtrends in our earnings, adjusted free cash flow, and business outlook. Further information regarding Micron's use of non- Sanjay Mehrotra Chairman, President and Chief Executive Officer Overview •Micron delivered an exceptional fiscal Q3, with significant records inrevenue, gross margin and EPS (earnings per share)—all exceeding •Demonstrating Micron’s position as a leader enabling the AI era, ourdata center revenue exceeded $25 billion in fiscal Q3, or an •Our data center SSD revenue exceeded $5 billion, more than doublingsequentially. •DRAM and NAND industry demand continues to significantly exceedindustry supply. •We expect tight conditions to persist beyond calendar 2027as a resultofAI-driven demand across all segments coupled with structural •We are excited to announce that we have now signed16strategiccustomer agreements, or SCAs, which we expect will fundamentally 4 Industry Trends (1 of 3) •The memory industry has been structurally transformed by theproliferation of AI. •We are only in the early innings of the significant innovation andproductivity that can be unleashed in every part of the global economy •Data center-driven growth will be increasingly complemented by AI-enabled features in smartphones, high-end PCs and new consumerdevices, as well as in automotive, industrial applications and robotics. •Exciting possibilities enabled by robotics and humanoids, as well asfully autonomous vehicles, portend a robust long-term demandenvironment for memory and storage. Industry Trends (2 of 3) •With respect to supply, our customers are recognizing that supply shortages inmemory and storage will take considerable time to improve. •Even as we expect industry supply to improve gradually in 2028, we currently donot have line of sight as to when memory supply will be able to catch up with •Memory industry supply growth is dependent on significant greenfield fabexpansions. These greenfield projects are large, complex and time consuming.Further, the pace is constrained by several factors, including long lead time forfab construction across the world, shortage of workers with critical trade skills, •Meanwhile, memory process technology, which is among the most advanced todevelop and manufacture in semiconductors, is getting more complex with everynew node. •Technology transitions are driving slower bit growth over time, wafer growthneeds are significantly increasing cleanroom space and greenfield fabrequirements, and HBM’s growth and increasing trade ratio with every new Industry Trends (3 of 3) •In NAND, industry suppliers redirecting cleanroom space from NAND to DRAMand overall limited cleanroom space constrain NAND bit supply growth. •These factors taken together mean supply is structurally constrained in itsgrowth and ability to meet industry demand, despite our comprehensive efforts •AI systems are powered by GPU, ASIC and CPU designs from an increasinglybroad set of suppliers. •However, they all share one important characteristic—AI system performanceis architecturally dependent on memory subsystem performance and capacity. •This has given rise to a more complex memory hierarchy that is providinggreater differentiation opportunities for Micron than at any time in our history. •It has also elevated the role of memory in the AI world to a strategic asset. Business Model Transformation andStrategic Customer Agreements (1 of 3) •Strong long-term demand growth, structurally constrained supply growth and memory’sstrategic importance have caused customers to recognize that their product roadmaps •Micron has been a pioneer in our industry in creating a new class of strategic customeragreements, or SCAs, with very robust terms. •We are pleased to announce that we have complete