Micron ended the quarter with cash, marketable investments, and restricted cash of $8.57 billion, for a net money( 2) position of $1.95 billion.Business OutlookThe following table presents Microns assistance for the third quarter of 2021: Story continuesFQ3-21GAAP( 1) OutlookNon-GAAP( 2) OutlookRevenue$ 7.1 billion ± $200 million$ 7.1 billion ± $200 millionGross margin40.5% ± 1% 41.5% ± 1% Operating expenses$ 930 million ± $25 million$ 875 million ± $25 millionInterest (income) expenditure, net$ 27 million$ 25 millionDiluted profits per share$ 1.52 ± $0.07$ 1.62 ± $0.07 Further info regarding Microns service outlook is included in the ready remarks and slides, which have been posted at investors.micron.com.Investor WebcastMicron will host a conference call on Wednesday, March 31, 2021, at 2:30 p.m. MT to discuss its 2nd quarter monetary outcomes and provide positive assistance for its 3rd quarter.( 2 )Non-GAAP represents GAAP excluding the impact of specific activities, which management omits in analyzing our operating results and understanding patterns in our revenues, changed totally free cash circulation, net cash, and company outlook. Further info relating to Microns use of non-GAAP procedures and reconciliations between GAAP and non-GAAP procedures are included within this press release.MICRON TECHNOLOGY, INC.CONSOLIDATED STATEMENTS OF OPERATIONS( In millions, other than per share amounts)( Unaudited) 2nd Qtr.1 st Qtr.2 nd Qtr.Six Months EndedMarch 4, 2021December 3, 2020February 27, 2020March 4, 2021February 27, 2020Revenue$ 6,236$ 5,773$ 4,797$ 12,009$ 9,941 Cost of goods sold4,5874,0373,4428,6247,220 Gross margin1,6491,7361,3553,3852,721 Research and development6416476811,2881,321 Selling, general, and administrative214214223428434Other operating (income) expenditure, net1319111408Operating income6638664401,529958 Interest income1010342078Interest expense( 42 )( 48 )( 46 )( 90 )( 93 )Other non-operating income (expenditure), net413( 1 )17456358414271,476988 Income tax (provision) advantage( 48 )( 51 )( 21 )( 99 )( 76 )Equity in net earnings (loss) of equity technique investees16131293Net income6038034071,406915 Net income attributable to noncontrolling interests—-( 2 )–( 19 )Net income attributable to Micron$ 603$ 803$ 405$ 1,406$ 896Earnings per shareBasic$ 0.54$ 0.72$ 0.37$ 1.26$ 0.81 Diluted0.530.710.361.230.79 Number of shares used in per share calculationsBasic1,1201,1151,1111,1181,109 Diluted1,1441,1351,1331,1391,131 MICRON TECHNOLOGY, INC.CONSOLIDATED BALANCE SHEETS( In millions)( Unaudited) As ofMarch 4, 2021December 3, 2020September 3, 2020AssetsCash and equivalents$ 6,507$ 5,985$ 7,624Short-term investments6771,047518 Receivables3,3533,6913,912 Inventories4,7435,2425,373 Assets held for sale1,461—- Other present assets538564538Total current assets17,27916,52917,965Long-term valuable investments1,3161,2641,048 Plant, equipment31, and home,84832,22931,031 Operating lease right-of-use assets575577584Intangible assets342336334Deferred tax assets726726707Goodwill1,2281,2281,228 Other noncurrent assets821802781Total possessions$ 54,135$ 53,691$ 53,678 Liabilities and equityAccounts payable and accrued expenses$ 4,550$ 4,856$ 5,817 Current debt323273270Other present liabilities560559548Total present liabilities5,4335,6886,635Long-term debt6,2986,3566,373 Noncurrent operating lease liabilities528529533Noncurrent unearned government incentives661656643Other noncurrent liabilities552555498Total liabilities13,47213,78414,682 Commitments and contingenciesShareholders equityCommon stock120120119Additional capital9,2349,0348,917 Retained earnings34,72334,13833,384 Treasury stock( 3,495)( 3,495)( 3,495) Accumulated other comprehensive earnings (loss) 8111071Total equity40,66339,90738,996 Total liabilities and equity$ 54,135$ 53,691$ 53,678 MICRON TECHNOLOGY, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS( In millions)( Unaudited) Six months endedMarch 4,2021 February 27,2020 Cash streams from running activitiesNet earnings$ 1,406$ 915Adjustments to fix up net earnings to net money provided by running activitiesDepreciation cost and amortization of intangible assets3,0362,661 Amortization of debt discount and other costs1516Stock-based compensation189157( Gain) loss on debt conversions, prepayments, and repurchases–( 42 )Change in running properties and liabilitiesReceivables533104Inventories629( 69 )Accounts payable and accrued expenses( 777 )257Deferred earnings taxes, internet( 11 )38Other4( 25 )Net money provided by running activities5,0244,012 Cash streams from investing activitiesExpenditures for residential or commercial property, plant, and equipment( 5,756)( 3,999) Purchases of available-for-sale securities( 1,349)( 566 )Proceeds from maturities of available-for-sale securities746523Proceeds from sales of available-for-sale securities1781,059 Proceeds from federal government incentives176105Other31( 21 )Net cash supplied by (utilized for) investing activities( 5,974)( 2,899) Cash streams from funding activitiesPayments on devices purchase contracts( 123 )( 29 )Repayments of debt( 103 )( 1,676) Acquisition of noncontrolling interest in IMFT–( 744 )Proceeds from issuance of debt– 1,250 Other17( 8 )Net money provided by (utilized for) funding activities( 209 )( 1,207) Effect of changes in currency exchange rates on cash, money equivalents, and limited cash43( 14 )Net increase (reduction) in cash, cash equivalents, and restricted cash( 1,116)( 108 )Cash, cash equivalents, and restricted money at beginning of period7,6907,279 Cash, cash equivalents, and limited cash at end of duration$ 6,574$ 7,171 MICRON TECHNOLOGY, INC.NOTES( Unaudited) InventoryEffective as of the start of the 2nd quarter of 2021, we changed our method of inventory costing from typical cost to FIFO. MICRON TECHNOLOGY, INC.RECONCILIATION OF GAAP TO NON-GAAP MEASURES( In millions, except per share quantities) 2nd Qtr.1 st Qtr.2 nd Qtr.March 4, 2021December 3, 2020February 27, 2020GAAP gross margin$ 1,649$ 1,736$ 1,355 Inventory accounting policy modification to FIFO133—- Change in inventory expense absorption160—- 3D XPoint stock write-down49—- Stock-based compensation574137Other676Non-GAAP gross margin$ 2,054$ 1,784$ 1,398 GAAP operating costs$ 986$ 870$ 915Stock-based settlement( 55 )( 51 )( 48 )Patent license charges( 128 )—- Restructure and property problems( 5 )( 8 )( 10 )Other( 1 )–( 1 )Non-GAAP operating costs$ 797$ 811$ 856GAAP operating income$ 663$ 866$ 440Inventory accounting policy modification to FIFO133—- Change in stock expense absorption160—- 3D XPoint stock write-down49—- Stock-based compensation1129285Patent license charges128—- Restructure and property impairments5810Other777Non-GAAP operating income$ 1,257$ 973$ 542GAAP net earnings attributable to Micron$ 603$ 803$ 405Inventory accounting policy modification to FIFO133—- Change in inventory cost absorption160—- 3D XPoint inventory write-down49—- Stock-based compensation1129285Patent license charges128—- Restructure and asset impairments5810Amortization of financial obligation discount rate and other costs876Other777Estimated tax results of non-cash and above modifications in net deferred earnings taxes( 77 )( 20 )4Non-GAAP net income attributable to Micron$ 1,128$ 897$ 517GAAP weighted-average typical shares exceptional – Diluted1,1441,1351,133 Adjustment for stock-based payment and capped calls101111Non-GAAP weighted-average typical shares exceptional – Diluted1,1541,1461,144 GAAP watered down earnings per share$ 0.53$ 0.71$ 0.36 Effects of the above adjustments0.450.070.09Non-GAAP watered down earnings per share$ 0.98$ 0.78$ 0.45 RECONCILIATION OF GAAP TO NON-GAAP MEASURES, Continued2nd Qtr.1 st Qtr.2 nd Qtr.March 4,2021 December 3,2020 February 27,2020 GAAP net money provided by operating activities$ 3,057$ 1,967$ 2,001 Investments in capital expenditures, netExpenditures for residential or commercial property, plant, and devices, net( 1) (3,000)( 2,726)( 2,013) Payments on equipment purchase contracts( 26 )( 97 )( 18 )Amounts funded by partners1434093Adjusted free money flow$ 174$( 816 )$ 63( 1 )Expenditures for home, plant, and devices, net consist of proceeds from sales of property, plant, and equipment of $18 million for the second quarter of 2021, $12 million for the very first quarter of 2021, and $43 million for the 2nd quarter of 2020. As ofMarch 4, 2021December 3, 2020September 3, 2020Cash and short-term financial investments$ 7,184$ 7,032$ 8,142 Current and noncurrent restricted cash676766Long-term marketable investments1,3161,2641,048 Current and long-lasting financial obligation( 6,621)( 6,629)( 6,643) Net cash$ 1,946$ 1,734$ 2,613 The tables above fix up GAAP to non-GAAP steps of gross margin, operating expenses, running earnings, net income attributable to Micron, diluted shares, watered down profits per share, changed free cash circulation, and net money.

Strong execution drives robust growth across multiple end marketsBOISE, Idaho, March 31, 2021 (GLOBE NEWSWIRE)– Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of financial 2021, which ended March 4, 2021. Fiscal Q2 2021 highlightsRevenue of $6.24 billion versus $5.77 billion for the previous quarter and $4.80 billion for the very same duration last yearGAAP net income of $603 million, or $0.53 per watered down shareNon-GAAP net income of $1.13 billion, or $0.98 per watered down shareOperating capital of $3.06 billion versus $1.97 billion for the previous quarter and $2.00 billion for the exact same period in 2015″ Microns strong fiscal second quarter performance shows rapidly enhancing market conditions and continued strong execution,” said Micron Technology President and CEO Sanjay Mehrotra. “Our technology management in both DRAM and NAND places Micron in an exceptional position to take advantage of the secular demand driven by AI and 5G, and to provide new levels of user experience and development across the information center and smart edge.” Quarterly Financial Results( in millions, except per share quantities) GAAP( 1 )Non-GAAP( 2 )FQ2-21FQ1-21FQ2-20FQ2-21FQ1-21FQ2-20Revenue$ 6,236$ 5,773$ 4,797$ 6,236$ 5,773$ 4,797 Gross margin1,6491,7361,3552,0541,7841,398 percent of revenue26.4% 30.1% 28.2% 32.9% 30.9% 29.1% Operating expenses986870915797811856Operating income6638664401,257973542 percent of revenue10.6% 15.0% 9.2% 20.2% 16.9% 11.3% Net income attributable to Micron6038034051,128897517 Diluted revenues per share0.530.710.360.980.780.45 Investments in capital investment, internet( 2) were $2.88 billion for the second quarter of 2021, which resulted in changed totally free money circulations( 2) of $174 million. Micron ended the quarter with cash, valuable financial investments, and limited money of $8.57 billion, for a net money( 2) position of $1.95 billion.Business OutlookThe following table provides Microns assistance for the third quarter of 2021: Story continuesFQ3-21GAAP( 1) OutlookNon-GAAP( 2) OutlookRevenue$ 7.1 billion ± $200 million$ 7.1 billion ± $200 millionGross margin40.5% ± 1% 41.5% ± 1% Operating costs$ 930 million ± $25 million$ 875 million ± $25 millionInterest (earnings) expense, net$ 27 million$ 25 millionDiluted profits per share$ 1.52 ± $0.07$ 1.62 ± $0.07 Further info concerning Microns business outlook is consisted of in the prepared remarks and slides, which have been published at investors.micron.com.Investor WebcastMicron will host a teleconference on Wednesday, March 31, 2021, at 2:30 p.m. MT to discuss its second quarter monetary outcomes and provide forward-looking guidance for its 3rd quarter. A live webcast of the call will be offered online at investors.micron.com. A webcast replay will be offered for one year after the call. For Investor Relations and other business updates, follow @MicronTech on Twitter at twitter.com/MicronTech.About Micron Technology, Inc.We are a market leader in innovative memory and storage services transforming how the world uses details to enrich life for all. With a relentless concentrate on our customers, technology management, and production and operational excellence, Micron delivers an abundant portfolio of high-performance DRAM, NAND, and NOR memory and storage items through our Micron ® and Crucial ® brands. Every day, the innovations that our people develop fuel the data economy, allowing advances in artificial intelligence and 5G applications that let loose chances– from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com. © 2021 Micron Technology, Inc. All rights reserved. Micron, the Micron logo design, and all other Micron hallmarks are the home of Micron Technology, Inc. All other trademarks are the home of their respective owners.Forward-Looking StatementsThis press release includes positive declarations concerning our industry, our strategic position, and our monetary and operating results. These forward-looking statements undergo a variety of risks and unpredictabilities that could cause actual results to differ materially. Please describe the files we submit with the Securities and Exchange Commission, particularly our latest Form 10-K and Form 10-Q. These documents contain and identify essential factors that could cause our real results to vary materially from those contained in these positive declarations. These specific aspects can be found at www.micron.com/certainfactors. We believe that the expectations reflected in the positive declarations are sensible, we can not guarantee future results, levels of activity, efficiency, or achievements. We are under no responsibility to update any of the forward-looking declarations after the date of this release to conform these statements to actual outcomes.( 1 )GAAP represents U.S. Generally Accepted Accounting Principles.( 2 )Non-GAAP represents GAAP excluding the impact of particular activities, which management leaves out in analyzing our operating outcomes and comprehending patterns in our incomes, changed complimentary capital, net money, and business outlook. Additional info relating to Microns use of non-GAAP steps and reconciliations in between GAAP and non-GAAP measures are consisted of within this press release.MICRON TECHNOLOGY, INC.CONSOLIDATED STATEMENTS OF OPERATIONS( In millions, except per share quantities)( Unaudited) 2nd Qtr.1 st Qtr.2 nd Qtr.Six Months EndedMarch 4, 2021December 3, 2020February 27, 2020March 4, 2021February 27, 2020Revenue$ 6,236$ 5,773$ 4,797$ 12,009$ 9,941 Cost of items sold4,5874,0373,4428,6247,220 Gross margin1,6491,7361,3553,3852,721 Research and development6416476811,2881,321 Selling, basic, and administrative214214223428434Other operating (income) cost, net1319111408Operating income6638664401,529958 Interest income1010342078Interest cost( 42 )( 48 )( 46 )( 90 )( 93 )Other non-operating earnings (expenditure), net413( 1 )17456358414271,476988 Income tax (provision) advantage( 48 )( 51 )( 21 )( 99 )( 76 )Equity in net income (loss) of equity method investees16131293Net income6038034071,406915 Net earnings attributable to noncontrolling interests—-( 2 )–( 19 )Net earnings attributable to Micron$ 603$ 803$ 405$ 1,406$ 896Earnings per shareBasic$ 0.54$ 0.72$ 0.37$ 1.26$ 0.81 Diluted0.530.710.361.230.79 Number of shares utilized in per share calculationsBasic1,1201,1151,1111,1181,109 Diluted1,1441,1351,1331,1391,131 MICRON TECHNOLOGY, INC.CONSOLIDATED BALANCE SHEETS( In millions)( Unaudited) As ofMarch 4, 2021December 3, 2020September 3, 2020AssetsCash and equivalents$ 6,507$ 5,985$ 7,624Short-term investments6771,047518 Receivables3,3533,6913,912 Inventories4,7435,2425,373 Assets held for sale1,461—- Other current assets538564538Total existing assets17,27916,52917,965Long-term marketable investments1,3161,2641,048 Plant, equipment31, and home,84832,22931,031 Operating lease right-of-use assets575577584Intangible assets342336334Deferred tax assets726726707Goodwill1,2281,2281,228 Other noncurrent assets821802781Total assets$ 54,135$ 53,691$ 53,678 Liabilities and equityAccounts payable and accumulated expenses$ 4,550$ 4,856$ 5,817 Current debt323273270Other existing liabilities560559548Total present liabilities5,4335,6886,635Long-term debt6,2986,3566,373 Noncurrent running lease liabilities528529533Noncurrent unearned federal government incentives661656643Other noncurrent liabilities552555498Total liabilities13,47213,78414,682 Commitments and contingenciesShareholders equityCommon stock120120119Additional capital9,2349,0348,917 Retained earnings34,72334,13833,384 Treasury stock( 3,495)( 3,495)( 3,495) Accumulated other comprehensive income (loss) 8111071Total equity40,66339,90738,996 Total liabilities and equity$ 54,135$ 53,691$ 53,678 MICRON TECHNOLOGY, INC.CONSOLIDATED STATEMENTS OF CASH FLOWS( In millions)( Unaudited) Six months endedMarch 4,2021 February 27,2020 Cash flows from operating activitiesNet earnings$ 1,406$ 915Adjustments to fix up net income to net money supplied by running activitiesDepreciation expense and amortization of intangible assets3,0362,661 Amortization of debt discount and other costs1516Stock-based compensation189157( Gain) loss on debt prepayments, repurchases, and conversions–( 42 )Change in running assets and liabilitiesReceivables533104Inventories629( 69 )Accounts payable and accrued expenses( 777 )257Deferred earnings taxes, net( 11 )38Other4( 25 )Net cash supplied by running activities5,0244,012 Cash flows from investing activitiesExpenditures for home, plant, and equipment( 5,756)( 3,999) Purchases of available-for-sale securities( 1,349)( 566 )Proceeds from maturities of available-for-sale securities746523Proceeds from sales of available-for-sale securities1781,059 Proceeds from government incentives176105Other31( 21 )Net cash provided by (used for) investing activities( 5,974)( 2,899) Cash streams from financing activitiesPayments on equipment purchase contracts( 123 )( 29 )Repayments of debt( 103 )( 1,676) Acquisition of noncontrolling interest in IMFT–( 744 )Proceeds from issuance of financial obligation– 1,250 Other17( 8 )Net cash provided by (utilized for) funding activities( 209 )( 1,207) Effect of modifications in currency exchange rates on cash, money equivalents, and restricted cash43( 14 )Net increase (reduction) in money, money equivalents, and limited cash( 1,116)( 108 )Cash, money equivalents, and restricted money at beginning of period7,6907,279 Cash, cash equivalents, and restricted money at end of period$ 6,574$ 7,171 MICRON TECHNOLOGY, INC.NOTES( Unaudited) InventoryEffective as of the beginning of the 2nd quarter of 2021, we changed our approach of stock costing from typical cost to FIFO. This change in accounting concept is more suitable due to the fact that in an environment with constantly altering production expenses FIFO more carefully matches the actual cost of items offered with the revenues from sales of those specific systems, much better represents the actual expense of stocks staying on hand at any period-end, and enhances comparability with our semiconductor industry peers. The modification to FIFO was not product to any previous durations, nor is the cumulative effect of $133 million material to the second quarter of 2021. As such, previous periods were not retrospectively changed, and the cumulative impact was reported as a boost to cost of goods offered for the second quarter of 2021 of $133 million, with an offsetting reduction to beginning stocks. This charge led to a matching decrease to operating income, a $128 million decrease to net income, and an $0.11 reduction to diluted revenues per share for the 2nd quarter of 2021. Starting in the second quarter of 2021, we changed the category of extra parts for equipment to better line up with the way in which they are used in operations. As a result, we now present spare parts as other current possessions and no longer as a component of raw materials inventories. This reclassification was applied on a retrospective basis. As an outcome, $270 million of spare parts existed in other existing properties as of March 4, 2021, and we reclassified extra parts from stocks to other current possessions of $279 million and $234 million in the accompanying balance sheets as of December 3, 2020 and September 3, 2020, respectively.Assets Held for SaleIn the 2nd quarter of 2021, we upgraded our portfolio strategy to additional enhance our concentrate on memory and storage developments for the data center market. In connection therewith, we identified that there was inadequate market validation to validate the ongoing financial investments needed to advertise 3D XPointTM at scale. Effective as of completion of the 2nd quarter of 2021, we stopped advancement of 3D XPoint innovation and participated in discussions with possible buyers for the sale of our facility located in Lehi, Utah, that was dedicated to 3D XPoint production. As an outcome, we categorized the residential or commercial property, plant, and equipment as held-for-sale and stopped depreciating the possessions. As of March 4, 2021, the substantial balances of assets and liabilities categorized as held-for-sale in connection with our Lehi facility consisted of $1.44 billion of equipment, home, and plant included in possessions held for sale and $51 countless a finance lease commitment included in present portion of long-term debt. We likewise acknowledged a charge of $49 million to cost of goods offered in the second quarter of 2021 to document 3D XPoint inventory due to our choice to cease more advancement of this innovation. We anticipate to reach a contract for the sale of our Lehi facility within calendar year 2021. MICRON TECHNOLOGY, INC.RECONCILIATION OF GAAP TO NON-GAAP MEASURES( In millions, other than per share amounts) 2nd Qtr.1 st Qtr.2 nd Qtr.March 4, 2021December 3, 2020February 27, 2020GAAP gross margin$ 1,649$ 1,736$ 1,355 Inventory accounting policy change to FIFO133—- Change in stock cost absorption160—- 3D XPoint stock write-down49—- Stock-based compensation574137Other676Non-GAAP gross margin$ 2,054$ 1,784$ 1,398 GAAP operating costs$ 986$ 870$ 915Stock-based compensation( 55 )( 51 )( 48 )Patent license charges( 128 )—- Restructure and possession impairments( 5 )( 8 )( 10 )Other( 1 )–( 1 )Non-GAAP operating costs$ 797$ 811$ 856GAAP operating earnings$ 663$ 866$ 440Inventory accounting policy change to FIFO133—- Change in inventory expense absorption160—- 3D XPoint stock write-down49—- Stock-based compensation1129285Patent license charges128—- Restructure and property impairments5810Other777Non-GAAP operating income$ 1,257$ 973$ 542GAAP net income attributable to Micron$ 603$ 803$ 405Inventory accounting policy change to FIFO133—- Change in inventory cost absorption160—- 3D XPoint stock write-down49—- Stock-based compensation1129285Patent license charges128—- Restructure and property impairments5810Amortization of financial obligation discount rate and other costs876Other777Estimated tax impacts of non-cash and above changes in net deferred income taxes( 77 )( 20 )4Non-GAAP net earnings attributable to Micron$ 1,128$ 897$ 517GAAP weighted-average typical shares outstanding – Diluted1,1441,1351,133 Adjustment for stock-based payment and topped calls101111Non-GAAP weighted-average common shares outstanding – Diluted1,1541,1461,144 GAAP watered down incomes per share$ 0.53$ 0.71$ 0.36 Effects of the above adjustments0.450.070.09Non-GAAP watered down profits per share$ 0.98$ 0.78$ 0.45 RECONCILIATION OF GAAP TO NON-GAAP MEASURES, Continued2nd Qtr.1 st Qtr.2 nd Qtr.March 4,2021 December 3,2020 February 27,2020 GAAP net money supplied by operating activities$ 3,057$ 1,967$ 2,001 Investments in capital investment, netExpenditures for plant, devices, and home, net( 1) (3,000)( 2,726)( 2,013) Payments on devices purchase contracts( 26 )( 97 )( 18 )Amounts funded by partners1434093Adjusted free cash flow$ 174$( 816 )$ 63( 1 )Expenditures for property, plant, and devices, net include earnings from sales of residential or commercial property, plant, and equipment of $18 million for the second quarter of 2021, $12 million for the very first quarter of 2021, and $43 million for the 2nd quarter of 2020. As ofMarch 4, 2021December 3, 2020September 3, 2020Cash and short-term financial investments$ 7,184$ 7,032$ 8,142 Current and noncurrent limited cash676766Long-term marketable investments1,3161,2641,048 Current and long-term debt( 6,621)( 6,629)( 6,643) Net money$ 1,946$ 1,734$ 2,613 The tables above reconcile GAAP to non-GAAP measures of gross margin, operating costs, operating earnings, net earnings attributable to Micron, diluted shares, diluted incomes per share, changed totally free money flow, and net money. The non-GAAP modifications above might or may not be infrequent or nonrecurring in nature, however are a result of non-core or regular operating activities. Our company believe this non-GAAP info is valuable in understanding trends and in examining our operating outcomes and profits. We are offering this details to financiers to help in carrying out analysis of our operating results. When assessing efficiency and making decisions on how to allocate our resources, management uses this non-GAAP details and believes investors need to have access to similar information when making their financial investment choices. Our company believe these non-GAAP monetary measures increase openness by offering financiers with beneficial extra details about the financial efficiency of our company, enabling enhanced contrast of our operating results between durations and with peer companies. The discussion of these adjusted amounts varies from amounts presented in accordance with U.S. GAAP and therefore may not be comparable to amounts reported by other business. Our management leaves out the following products in evaluating our operating results and comprehending patterns in our earnings: Stock-based settlement; Flow-through of organization acquisition-related stock changes; Acquisition-related expenses; Start-up and preproduction expenses; Employee severance; Patent license charges; Restructure and asset disabilities; Amortization of financial obligation discount rate and other expenses, consisting of the accretion of non-cash interest expense connected with our convertible notes and other debt; Gains and losses from debt repurchases and conversions; Gains and losses from company acquisition activities; Initial effect of stock accounting policy change to FIFO and change in inventory cost absorption in the second quarter of 2021; andThe estimated tax results of above, non-cash changes in net deferred income taxes, evaluations of tax exposures, and considerable modifications in tax law.Non-GAAP diluted shares are adjusted for the effect of extra shares arising from the exclusion of stock-based settlement from non-GAAP income. Non-GAAP diluted shares also include the effect of capped calls, which are anti-dilutive in GAAP incomes per share however are anticipated to reduce the dilutive effect of convertible notes, based on the typical share cost for the duration the capped calls were outstanding.MICRON TECHNOLOGY, INC.RECONCILIATION OF GAAP TO NON-GAAP OUTLOOKFQ3-21GAAP OutlookAdjustmentsNon-GAAP OutlookRevenue$ 7.1 billion ± $200 million–$ 7.1 billion ± $200 millionGross margin40.5% ± 1% 1% A41.5% ± 1% Operating costs$ 930 million ± $25 million$ 55 millionB$ 875 million ± $25 millionInterest (income) expenditure, net$ 27 million$ 2 millionC$ 25 millionDiluted revenues per share( 1 )$ 1.52 ± $0.07$ 0.10 A, B, C, D$ 1.62 ± $0.07Non-GAAP Adjustments( in millions) AStock-based payment– cost of products sold$ 46AOther– cost of goods sold7BStock-based compensation– research and development29BStock-based settlement– sales, basic, and administrative26CAmortization of financial obligation discount and other costs2DTax effects of the above products and non-cash changes in net deferred earnings taxes2$ 112( 1 )GAAP incomes per share based on roughly 1.15 billion watered down shares and non-GAAP earnings per share based upon roughly 1.16 billion watered down shares.The tables above reconcile our GAAP to non-GAAP guidance based upon the current outlook. The assistance does not incorporate the effect of any possible organization mixes, divestitures, restructuring activities, balance sheet assessment changes, tactical investments, financing deals, and other considerable deals. The timing and impact of such items are reliant on future occasions that may be outside or uncertain of our control.CONTACT: Contacts: Farhan Ahmad Investor Relations farhanahmad@micron.com (408) 834-1927 Erica Rodriguez Pompen Media Relations epompen@micron.com (408) 834-1873

By