APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ADJUSTED RESULTS
| Three Months Ended | |||||||
| (In millions, except percentages) | January 29,
2023 | January 30,
2022 | |||||
| Semiconductor Systems Non-GAAP Adjusted Operating Income | |||||||
| Reported operating income - GAAP basis | $ | 1,917 | $ | 1,771 | |||
| Certain items associated with acquisitions1 | 9 | 7 | |||||
| Non-GAAP adjusted operating income | $ | 1,926 | $ | 1,778 | |||
| Non-GAAP adjusted operating margin | 37.3 | % | 38.9 | % | |||
| AGS Non-GAAP Adjusted Operating Income | |||||||
| Reported operating income - GAAP basis | $ | 383 | $ | 403 | |||
| Non-GAAP adjusted operating income | $ | 383 | $ | 403 | |||
| Non-GAAP adjusted operating margin | 28.0 | % | 30.5 | % | |||
| Display and Adjacent Markets Non-GAAP Adjusted Operating Income | |||||||
| Reported operating income - GAAP basis | $ | 8 | $ | 76 | |||
| Certain items associated with acquisitions1 | — | 1 | |||||
| Non-GAAP adjusted operating income | $ | 8 | $ | 77 | |||
| Non-GAAP adjusted operating margin | 4.8 | % | 21.0 | % | |||
