AMD Advanced Micro Devices : Slide Presentation Q1 2024

FINANCIAL	First Quarter 2024
AMD
RESULTS	April 30, 2024

CAUTIONARY STATEMENT

This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD), such as the features, functionality, performance, availability, timing and expected benefits of AMD products; AMD's expected second quarter 2024 financial outlook, including revenue, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP tax rate and diluted share count; AMD's large and compelling TAM; AMD's ability to expand Data Center and AI leadership; and AMD's ability to drive long-term shareholder returns, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this presentation are based on current beliefs, assumptions and expectations, speak only as of the date of this presentation and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation's dominance of the microprocessor market and its aggressive business practices; economic and market uncertainty; cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; loss of a significant customer; public health crises, such as pandemics and epidemics; competitive markets in which AMD's products are sold; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD's products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; potential difficulties in operating AMD's newly upgraded enterprise resource planning system; uncertainties involving the ordering and shipment of AMD's products; AMD's reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD's products; AMD's reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD's internal business processes and information systems; compatibility of AMD's products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD's ability to effectively control sales of its products on the gray market; long-term impact of climate change on AMD's business; impact of government actions and regulations such as export regulations, tariffs and trade protection measures; AMD's ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals- related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; impact of acquisitions, joint ventures and/or investments on AMD's business and AMD's ability to integrate acquired businesses; impact of any impairment of the combined company's assets; restrictions imposed by agreements governing AMD's notes, the guarantees of Xilinx's notes and the revolving credit facility; AMD's indebtedness; AMD's ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD's ability to attract and retain qualified personnel; and AMD's stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's most recent reports on Forms 10-K and 10-Q.

NON-GAAP FINANCIAL MEASURE

In this presentation, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit and margin, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2024, AMD uses a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-taxnon-GAAP adjustments. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance. The non-GAAP financial measures disclosed in this presentation should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP and should be read only in conjunction with AMD's Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the Appendices at the end of this presentation. This presentation also contains forward- looking non-GAAP measures concerning AMD's financial outlook such as gross margin, operating expenses and tax rate. These forward-lookingnon-GAAP measures are based on current expectations as of April 30, 2024, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its forward-looking statements made in this presentation except as may be required by law.

2 2 Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024

OUR JOURNEY

Leadership		Expanding Customer		Data Center		Strong
Product Portfolio		& Partner Ecosystem		and AI Growth		Financial Foundation

3 3 Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024

OUR LEADERSHIP TECHNOLOGY

Broad IP Portfolio		Advanced Technology		Data Center Leadership		Software Enablement
Executing leadership CPU,		Driving leadership		Delivering innovation in		Open-source software
GPU, DPU, FPGA, Adaptive		process technology and		AI, cloud, enterprise and		optimized for performance
SoC and AI products		3D chiplet packaging		accelerated computing		across heterogenous solutions

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OUR LEADERSHIP PRODUCTS

Data Center		Client		Gaming		Embedded
Broad portfolio of data center		Powerful and efficient CPUs		Top-to-bottom desktop and		Leadership FPGAs,
and AI solutions with server		and APUs for notebook and		notebook GPUs, game console		Adaptive SoCs and SoMs, and
CPUs, GPUs, FPGAs, DPUs		desktop PCs and commercial		and semi-custom SoCs		embedded CPUs and GPUs
and Adaptive SoCs		workstations				for a broad set of markets

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AMD IS UNIQUELY POSITIONED IN AI

Cloud

HPC

Enterprise

PC

Embedded

AMD InstinctTM

AMD Instinct

AMD Instinct MI300

AMD RyzenTM 8040

AMD VersalTM AI

MI300X

MI300A

Accelerators

Mobile Processors

Edge Adaptive SoCs

Accelerators

Accelerators

4th Gen AMD EPYCTM

with Ryzen AI

Processors

Leadership accelerator

World's first data center

Broad ecosystem of OEM

Technology leadership with

Single Chip Intelligence

for generative AI,

APU for HPC and AI

and solution partners

upgraded on-die AI neural

at the Edge for all

LLMs and inferencing

processing unit (NPU)

Embedded Markets

ADVANCING END-TO-END AI INFRASTRUCTURE

6 Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024

REVENUE Q1 2024

▪	Revenue of $5.5 billion increased 2% y/y	$5.4B	$5.5B

• Revenue growth in Data Center and Client segments was partially offset by lower revenue in Gaming and Embedded segments

Q1 2023

Q1 2024

7	Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024

GROSS MARGIN Q1 2024

GAAP

Non-GAAP1

47%

44%

50%

52%

Q1 2023

Q1 2024

• Increase driven by higher revenue contribution from Data Center and Client segments, lower amortization of acquisition-related intangible assets, partially offset by lower Embedded and Gaming segments revenue

Q1 2023

Q1 2024

• Increase driven by higher revenue contribution from Data Center and Client segments, partially offset by lower Embedded and Gaming segments revenue

1. See Appendices for GAAP to Non-GAAP reconciliation

8	Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024

OPERATING INCOME (LOSS) Q1 2024

GAAP

$(0.14)B$0.04B

Q1 2023

Q1 2024

• Increase driven by higher gross margin and lower amortization of acquisition-related intangible assets, partially offset by increased operating expenses

Non-GAAP1

$1.10B$1.13B

Q1 2023

Q1 2024

• Increase driven by higher gross margin, partially offset by increased operating expenses

1. See Appendices for GAAP to Non-GAAP reconciliation

9	Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024

EARNINGS (LOSS) PER SHARE Q1 2024

GAAP

$0.07

$(0.09)

Q1 2023

Q1 2024

• GAAP net income of $123 million
• GAAP EPS of $0.07 primarily driven by higher gross margin and lower amortization of acquisition-related intangible assets, partially offset by increased operating expenses

Non-GAAP1

$0.60$0.62

Q1 2023

Q1 2024

• Non-GAAPnet income of $1.0 billion
• Non-GAAPEPS of $0.62, up 3%, primarily driven by higher gross margin, partially offset by increased operating expenses

1. See Appendices for GAAP to Non-GAAP reconciliation

10 Q1 2024 FINANCIAL RESULTS - APRIL 30, 2024