2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEX

1UN SDGs INDEXKey data andframeworks
IN THIS SECTION:
Performance summary

2

GRI index

4

SASB index

15

TCFD index

17

UN SDGs index212023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEX

Performance summary

TCFD INDEX

2

UN SDGs INDEX

1

Data as of 12/31/2023.
Performance Area

2023

YOY Change 2022

2021

Business and Governance2023

YOY Change 2022

2021

Employee retention rate

83.7%

-6.7%

89.7%

93%

6.8

9.7%

6.2

6.5

Number of full-time employees (approximate)

17,200-10%

19,20016,300

Average service years

Revenue1$17.4B

1.2%$17.2B$14.60

SafetyR&D spend (as percentage of operating expenses)$1.7B(66.4%)

7.7%

$1.6B
(64%)

$1.5B
(64%)

Recordable injury rate

0.33

-6%

0.35

0.40

Total financial contributions made to political parties,
candidates or related institutions

$0

—

—

—

Risk Management by Walking Around (RMBWA) reviews

249,000-6%

264,000

206,000

Total financial contributions made to political parties,
candidates or related institutions by LAMPAC

$0

­—

—

—

Total number of supplier families

1,514

2%

1,483

1,450

Percent of direct spending on local suppliers (N. America)

41%

-16%

49%

66%

Total number of diverse suppliers

19

0%

19

25

Workplace

Total spending on diverse suppliers

$69M

-78%

$123M

$113M

Gender Representation

Sustainable Operations

Products and Customers
Total number of installed base chambers (approximate)

90,0007%84,00075,000

Responsible Supply Chain

Percent of employee population identifying as female (global)

20.5%

2.5%

20.0%

19.5%

Energy and Climate

Percent of employee population identifying as female (U.S.)

22.7%

1.8%

22.3%

22.0%

Energy consumption (Million kWh)

449

-5%

472

402

Percent of new hires identifying as female (global)

23.0%

0.0%

23.0%

21.8%

Percent renewables (U.S.)

50%

14%

44%

37%

GHG emissions Scopes 1 and 2 market-based (MTCO2e)

254,174-51%

516,851

356,608

U.S. Ethnicity
White

47.6%

-3.4%

49.3%

50.5%

Scope 1 emissions (MTCO2e)

190,124-58%

453,551

300,087

Asian

32.4%

5.5%

30.7%

30%

Scope 2 emissions location-based (MTCO2e)132,1441%

131,084

109,627

Hispanic or Latinx

7.1%

-2.7%

7.3%

7.0%

Scope 2 emissions market-based (MTCO2e)

64,0501%

63,30056,521

Two or more races

3.0%

-3.2%

3.1%

2.9%

Scope 3 emissions (MTCO2e)

7.1M

-29%

9.9M

6.7M

Black or African American

2.4%

-7.7%

2.6%

2.6%

Category 1—Purchased goods and services

1,157,146-34%

1,764,704—

Native Hawaiian or other Pacific Islander

0.6%-14.3%

0.7%

0.7%

Category 2—Capital goods

16,515

187%

5,759

—

American Indian or Native Alaskan

0.4%-20.0%

0.5%

0.4%

Category 3—Fuel and energy-related activities

35,155-33%

52,793—

Not stated

6.5%

12.1%

5.8%

5.9%

Category 4—Upstream transportation and distribution

410,28519%344,870—

Category 5—Waste generated in operations

3,202

-63%

8,556

—

Employee Engagement, Recruitment, and Retention

1

Performance Area

Employee engagement score (global top-tier benchmark 78)

76

-2.6%

78

80

Category 6—Business travel

39,195265%

10,731—

Total new hires (global)

1,082-74.2%

4,197

4,507

Category 7—Employee commuting

13,907-25%

18,491—

Number of internal promotions

2,275-11.7%

2,577

1,936

Category 8­—Upstream leased assets

N/A

—

N/A

N/A

Education reimbursement for U.S. employees

$2.1M

-4.0%

$2.2M

$1.98M

Category 9—Downstream transportation and distribution

139,356-19%

171,777—

All figures are for calendar year, with the exception of revenue and R&D spend which are presented on a fiscal year basis. 2021 is for fiscal year ending June 27, 2021; 2022 is for fiscal year ending June 26, 2022; 2023 is for fiscal year ending June 25, 2023.
K is defined as thousand, M is defined as million, and B is defined as billion. Minimal rounding has been applied to these data.

2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEX

Performance summary

TCFD INDEXUN SDGs INDEX

1

Data as of 12/31/2023.
Performance Area

2023

YOY Change 2022

2021

Category 10—Processing of sold products

N/A

—

N/A

N/A

Category 11—Use of sold products

5,345,329-29%

7,504,837—

Category 12—End of life treatment of sold products

2,747

8%

2,546

—

Category 13—Downstream leased assets

N/A

—

N/A

N/A

Category 14—Franchises

N/A

—

N/A

N/A

Category 15—Investments

307

-26%

418

—

Volatile organic compounds (metric tons)

51

-25%

68

37

Hazardous waste recycling rate

53%

10%

48%

24%

Non-hazardous waste recycling rate

81%

5%

77%

71%

Water usage (million gallons)

403

1%

398

378

Water usage in water-stressed regions (million gallons)

197

15%

172

144

Ultra-pure water usage (million gallons)

96

55%

62

111

Number of environmental fines

4

33%

3

3

Total giving by the Lam Research Foundation

$6.8M

3%

$6.6M

$6.2M

Employee volunteer hours

30,67745%

21,133

12,781

Employee matching gifts

$1.3M

8%

$1.2M

$1.1M

Number of charity organizations supported

2,128

-1%

2,153

1,552

Waste

Water

Community1All figures are for calendar year, with the exception of revenue and R&D spend which are presented on a fiscal year basis. 2021 is forfiscal year ending June 27, 2021; 2022 is for fiscal year ending June 26, 2022; 2023 is for fiscal year ending June 25, 2023. K is definedas thousand, M is defined as million, and B is defined as billion. Minimal rounding has been applied to these data.

3

2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEXGRI index
Lam Research Corporate has reported the information cited in this GRI content index for the period June 27, 2022 to June 25, 2023 with reference to the GRI Standards.

GRI 1 Used

GRI 1: Foundation 2021

GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

General Disclosures
GRI 2: General Disclosures 2021
The Organization and Its Reporting
2-1

Organizational details

Lam Research Corporation
Fremont, CA, USA

2-2

102-2 Activities, brands, products, and services

Entities included in this report are identified in 2023 Form 10-K, Exhibit 21. Exceptions are noted throughout the report.

2-3

Reporting period, frequency and contact point

Annually
Year end: June 25, 2023
investor.relations@lamresearch.com

2-4

Restatements of information

In 2023, Lam updated some emissions calculation methodologies and gained access to additional data. As a result, our total Scope 3
emissions were updated:• Category 4 – Upstream transportation and distribution: Emissions factors were updated.
• Category 9 - Downstream transportation and distribution: We gained access to additional data.
• Category 11 – Use of sold products: We removed greening of the grid and customer renewable projects from calculations.
We also made further corrections to our calculation method for volatile organic compounds, which resulted in Lam restating the values
for 2022.

2-5

External assurance

Our environmental data, including Scope 1 and 2 emissions, energy, waste, and water, are verified by an external third-party.

Activities and Workers
2-6

Activities, value chain and otherbusiness relationships

2023 Form 10-K, Business, pp. 3-9

2-7

Employees2023 Form 10-K, Human Capital, p. 102023 ESG Report—Our Workplace—Fostering and leading inclusive teams
2023 ESG Report—Key Data and Frameworks—Performance Summary

Governance
2-9

Governance structure and composition

2023 Proxy Statement—Board’s Roles and Engagement, p. 18; Lam’s ESG Governance Structure, p. 23
2023 Proxy Statement—Board Committees, p. 16-17

2-10

Nomination and selection of the highest
governance body2023 Proxy Statement—Board Nomination Policies and Procedures, p. 14

2-11

Chair of the highest governance body2023 Proxy Statement—Leadership Structure of the Board, p. 15

42023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEXGRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

2-12Role of the highest governance body inoverseeing the management of impacts

2023 Proxy Statement—Board’s Roles and Engagement, p. 18; Environmental, Social, and Governance Matters, p. 22-25

2-13

Delegation of responsibility for
managing impacts

2023 Proxy Statement—Board’s Roles and Engagement, p. 18; Environmental, Social, and Governance Matters, p. 22-25

2-14

Role of the highest governance bodyin sustainability reporting

2023 ESG Report—Business & Governance—Holding ourselves accountable
2023 Proxy Statement—Environmental, Social, and Governance Matters, p. 22-25
2023 Proxy Statement—Board Committees, p. 16-17, Risk Oversight, p. 19

2-15

Conflicts of interest

2023 Proxy Statement—Corporate Governance Policies, p. 11
Code of Conduct

2-16

Communication of critical concerns

2023 Proxy Statement—Communications with Board Members, p. 16

2-17

Collective knowledge of the highest
governance body2023 Proxy Statement—Director Nominee Key Qualifications, Skills and Experiences Highlights, p. 3-4; Governance Matters, p. 11-27

2-18

Evaluation of the performance of the highest
governance body2023 Proxy Statement—Board Effectiveness Practices, p. 12

2-19

Remuneration policies

2023 Proxy Statement—Director Compensation, p. 25-27
2023 Proxy Statement—Overview of Executive Compensation, p. 29-33

2-20

Process to determine remuneration

2023 Proxy Statement—Executive Compensation Governance and Procedures, p. 34-36

2-21

Annual total compensation ratio

2023 Proxy Statement—CEO Pay Ratio, p. 57

Strategy, Policies and Practices
2-22Statement on sustainable development strategy 2023 ESG Report—Introduction—A message from our CEO

2-23

Policy commitments

Code of Conduct
Global Supplier Code of Conduct
Environmental Health and Safety Policy
Global Employment Practices Statement
Human Rights Policy
Privacy Policy
Terms of Use
Global California Transparency in Supply Chains Act of 2010 Compliance Statement
Code of Ethics
Protected Health Information Policy
Corporate Public Policy Engagement and Political Activity Statement52023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEX6

GRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

2-24

Embedding policy commitments

2023 ESG Report­—Our Workplace—Maintaining a safe workplace2023 ESG Report—Our Workplace—Fostering and leading inclusive teams
2023 ESG Report—Responsible Supply Chain—Upholding human rights
2023 ESG Report—Responsible Supply Chain—Ethically sourcing raw materials
2023 ESG Report—Responsible Supply Chain—Our comprehensive approach2023 ESG Report—Business & Governance

2-25

Processes to remediate negative impacts

2023 ESG Report—Business & Governance—Reinforcing a culture of ethics and compliance
Ethics Helpline
Anyone, including employees, contractors, suppliers, and customers may report a concern related to potential misconduct involving Lam.

2-26

Mechanisms for seeking advice andraising concerns

Our Code of Conduct provides guidance to employees on raising concerns about a variety of issues, including those that are financial. Our
Ethics & Compliance team investigates allegations involving alleged kickbacks, bribery, trade secret theft, insider trading, conflictsof interest, and corporate card and expense abuse among other issues. They also share their investigations reporting data with
employees, including data related to:• Annual report volumes• Claim types and claims by geography• Anonymous reporting rates• The substantiation rate at which E&C concluded that a violation occurred• The most severe corrective actions taken for substantiated cases
For further information, see our 2023 ESG Report—Business & Governance—Reinforcing a culture of ethics and compliance section.

2-27

Compliance with laws and regulations

We take a risk-based approach to conduct due diligence and exercise strong third-party risk management through our compliancequestionnaire, Supplier Code of Conduct, and Human Rights Policy. This includes conducting risk-based, annual internal audits to evaluate
the adequacy and effectiveness of control processes and systems within targeted areas of our business. The audits support Lam’scompliance with various control objectives, as well as applicable policies, procedures, regulations, and laws. Based on the results, ourInternal Audit team makes recommendations to add value and drive improvements across our business.
For further information on instances of non-compliance see our 2023 Form 10-K, Legal, Regulatory, and Tax Risks, p. 20-22.

2-28

Membership associations

Semiconductor Climate Consortium, United Nations Global Compact, East Bay Foundation, National Association of Manufacturers,
Responsible Business Alliance, SEMI, Semiconductor Industry Association, Silicon Valley Community Foundation, and Watermark,
US-India Strategic Partnership, Inc., US-Korea Business Council, US-Taiwan Business Council, US-China Business Council, Silicon
Valley Leadership Group, SEMI Climate Consortium, U.S.-India Business Council

Stakeholder Engagement
2-29

Approach to stakeholder engagement

2023 ESG Report­—Business & Governance—Engaging key stakeholders
2023 ESG Report—Our Communities—Resilient communities
2023 Proxy Statement—Stockholder Engagement, p. 20-21

2-30

Collective bargaining agreements

Global Employment Practices Statement

2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEX7

GRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

Material Topics
GRI 3: Material Topics 2021
3-1

Process to determine material topics

2023 ESG Report—Business & Governance—Engaging key stakeholders

3-2

List of material topics

2023 ESG Report—Business & Governance—Engaging key stakeholders

GRI 200: Economic
GRI 201: Economic Performance
3-3Management of material topic

2023 ESG Report—Business & Governance2023 Form 10-K, Consolidated Statements of Operations, p. 39

201-1

Direct economic value generated
and distributed

2023 Form 10-K, Consolidated Statements of Operations, p. 39

201-2

Financial implications and other risks andopportunities due to climate change

2023 ESG Report—Sustainable Operations—Moving toward net zero2023 ESG Report—Business & Governance—Our ESG approach2023 ESG Report—Key Data and Frameworks—TCFD index
2023 Form 10-K, Business and Operational Risks, p. 15, 18, 19

201-3

Defined benefit plan obligations and otherretirement plans

2023 Form 10-K, Note 16: Retirement and Deferred Compensation Plans, p. 66
We offer a competitive 401(k) benefit matching 50% of regular pre-tax contributions and/or regular Roth contributions on the first 6% ofeligible pay that employees contribute to the plan. In 2023, 98.5% of our eligible employees received bonuses.
Stock awards are offered to senior and other selected employees. In 2023, 72.6% of our employees chose to invest in Lam through our
employee stock purchase plan (ESPP). Eligible employees who work 20 hours or more per week may contribute up to 15% of their earnings
to the ESPP (subject to statutory limits) and are eligible to purchase shares at a discount of at least 15%.

201-4

Financial assistance received from government

2023 Form 10-K, Government Assistance, p. 68

GRI 203: Indirect Economic Impacts
3-3Management of material topic

2023 ESG Report­—Business & Governance­—Engaging key stakeholders
2023 ESG Report­—Our Communities­—Resilient communities

203-1
203-2

Infrastructure investments andservices supported

2023 ESG Report­—Business & Governance­—Engaging key stakeholders

Significant indirect economic impacts

2023 ESG Report­—Business & Governance­—Engaging key stakeholders

2023 ESG Report­—Our Communities­—Resilient communities
2023 ESG Report­—Our Communities­—Resilient communities2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEXGRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

GRI 205: Anti-corruption
3-3Management of material topic

Lam’s Code of Conduct addresses a range of ethics and compliance issues, such as protecting confidential information; prohibiting
bribery and corruption; and giving or receiving gifts, meals, travel, and entertainment. It also covers workplace conduct issues suchas harassment and discrimination, as well as conflicts of interest created by relationships. We regularly review and update the GSBC
to ensure that it remains relevant to our business. Additional policies and procedures provide further guidance on specific ethics andcompliance areas, including:• Anti-bribery and corruption• Anti-harassment• Conflicts of interest• Conflicts of interest created by relationships• Gifts, meals, travel, and entertainment• Insider trading• Reporting Concerns
For more information, see the Business & Governance section of this Report, Global Code of Conduct, Global Supplier Code of Conduct,
and Code of Ethics.

205-1

Operations assessed for risks related
to corruption

2023 ESG Report—Business & Governance

205-2

Communication and training about anticorruption policies and procedures

2023 ESG Report—Business & Governance—Reinforcing a culture of ethics and compliance
Lam requires employees to complete annual training that reinforces their understanding of selected topics within the Global Code of Conduct.

GRI 206: Anti-competitive Behavior
3-3Management of material topic

Lam’s Code of Conduct addresses a range of ethics and compliance issues, such as protecting confidential information; prohibiting bribery
and corruption; and giving or receiving gifts, meals, travel, and entertainment. It also covers workplace conduct issues such as harassment
and discrimination, as well as conflicts of interest created by relationships. We regularly review and update the Code of Conduct to ensurethat it remains relevant to our business. Additional policies and procedures provide further guidance on specific ethics and complianceareas, including:• Anti-bribery and corruption• Anti-harassment• Conflicts of interest• Conflicts of interest created by relationships• Gifts, meals, travel, and entertainment• Insider trading• Reporting concerns
For more information, see the Business & Governance section of this Report, Global Code of Conduct, Global Supplier Code of Conduct,
and Code of Ethics.

206-1

Legal actions for anti-competitive behavior,anti-trust, and monopoly practices

There are no legal actions against Lam for anti-competitive behavior, anti-trust, and monopoly practices during the reporting period.

8

2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEXGRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSEManagement of material topic

2023 ESG Report—Business & Governance—Engaging policymakers and enabling our business—Complying with global taxation

GRI 207: Tax
3-32023 Form 10-K, pp. 8-9, 20-22, 46, 52-53, 67-68
United Kingdom Tax Strategy
207-1

Approach to tax

2023 ESG Report­—Business & Governance—Engaging policymakers and enabling our business—Complying with global taxation

207-2

Tax governance, control, and risk management

2023 ESG Report­—Business & Governance—Engaging policymakers and enabling our business—Complying with global taxation

207-3

Stakeholder engagement and management ofconcerns related to tax

2023 ESG Report­—Business & Governance—Engaging policymakers and enabling our business—Complying with global taxation

207-4

Country-by-country reporting

Lam Research does not provide country-by-country reporting on taxes, see 2023 Form 10-K, pp. 8-9, 20-22, 46, 52-53, 67-68 for overall
reporting on taxes.

GRI 300: Environmental
GRI 302: Energy
3-3Management of material topic

2023 ESG Report­—Business & Governance­—Our ESG Approach2023 ESG Report­—Sustainable Operations­—Enhancing energy efficiency
2023 CDP Climate Change Response

302-1

Energy consumption within the organization

2023 ESG Report­—Sustainable Operations­—Enhancing energy efficiency

302-2

Energy consumption outside of the organization

2023 ESG Report—Sustainable Operations—Moving toward net zero

302-3

Energy intensity

2023 ESG Report­—Sustainable Operations­—Enhancing energy efficiency

302-4

Reduction of energy consumption

2023 ESG Report—Sustainable Operations—Enhancing energy efficiency
2023 ESG Report—Responsible Supply Chain—Collaborating to advance climate action

302-5

Reductions in energy requirements of products
and services

2023 ESG Report—Product Innovation—Innovating smart, sustainable solutions; Delivering lifecycle solutions

GRI 303: Water and Effluents
3-3Management of material topic

2023 ESG Report—Sustainable Operations—Practicing water stewardship2023 CDP Water Security Response

303-1

Interactions with water as a shared resource

2023 ESG Report—Sustainable Operations—Practicing water stewardship

303-2

Management of water
discharge-related impacts

2023 ESG Report—Sustainable Operations—Practicing water stewardship

Water withdrawal

2023 ESG Report—Sustainable Operations—Practicing water stewardship

303-3

2023 CDP Water Security Response2023 CDP Water Security W1.2b, W1.2h

92023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEXGRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

303-4

Water discharge

2023 ESG Report—Sustainable Operations—Practicing water stewardship2023 CDP Water Security W1.2b, W1.2i

303-5

Water consumption

2023 ESG Report—Sustainable Operations—Practicing water stewardship2023 CDP Water Security W1.2b

GRI 305: Emissions
3-3

Management of material topic

2023 ESG Report—Business & Governance—Our ESG Approach2023 ESG Report—Sustainable Operations—Moving toward net zero2023 ESG Report—Responsible Supply Chain—Collaborating to advance climate action
2023 CDP Climate Change Response

305-1

Direct (Scope 1) GHG emissions

2023 ESG Report—Sustainable Operations—Moving toward net zero

305-2

Energy indirect (Scope 2) GHG emissions

2023 ESG Report—Sustainable Operations—Moving toward net zero305-3

Other indirect (Scope 3) GHG emissions

2023 ESG Report—Sustainable Operations—Moving toward net zero305-4

GHG emissions intensity

2023 ESG Report—Sustainable Operations—Moving toward net zero

305-5

Reduction of GHG emissions

2023 ESG Report—Sustainable Operations—Moving toward net zero305-6

Emissions of ozone-depleting substances (ODS) 2023 ESG Report—Sustainable Operations—Moving toward net zero

305-7

Nitrogen oxides (NOX), sulphur oxides (SOX),
and other significant air emissions

2023 ESG Report—Sustainable Operations—Minimizing and managing waste

Management of material topic

2023 ESG Report—Business & Governance—Our ESG Approach

GRI 306: Waste
3-3

2023 ESG Report—Sustainable Operations—Minimizing and managing waste
306-1

Waste generation and significant
waste-related impacts

2023 ESG Report—Sustainable Operations—Minimizing and managing waste

306-2Management of significant
waste-related impacts

2023 ESG Report—Sustainable Operations—Minimizing and managing waste

306-3

Waste generated

2023 ESG Report—Sustainable Operations—Minimizing and managing waste

306-4

Waste diverted from disposal

2023 ESG Report—Sustainable Operations—Minimizing and managing waste

306-5

Waste directed to disposal

2023 ESG Report—Sustainable Operations—Minimizing and managing waste

10

PERFORMANCE SUMMARY

2023 ESG ReportGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEX11

GRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

GRI 308: Supplier Environmental Assessment
3-3Management of material topic

2023 ESG Report—Responsible Supply Chain—Collaborating to advance climate action

308-2

Negative environmental impacts in the supply
chain and actions taken

2023 ESG Report—Responsible Supply Chain—Collaborating to advance climate action
Lam recognizes the impact our supply chain has on the environment, and to mitigate the impact we set a science-based target (SBT)
engagement goal to work with suppliers to set their own SBTs. We also engage suppliers through data collection, webinars, and providing
outside resources to ensure they build capability to proactively manage and reduce their environmental footprint.

GRI 400: Social
GRI 401: Employment
3-3Management of material topic

2023 ESG Report—Business & Governance—Engaging key stakeholders
2023 ESG Report—Our Workplace

401-1

New employee hires and employee turnover2023 ESG Report—Key Data and Frameworks—Performance summary

401-2

Benefits provided to full-time employeesthat are not provided to temporary or
part-time employees

2023 ESG Report—Our Workplace—Creating a workplace that supports success

Parental leave

Culture & Benefits Hub

401-3

Culture & Benefits Hub

GRI 403: Occupational Health and Safety
3-3Management of material topic

2023 ESG Report—Business & Governance—Engaging key stakeholders
2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-1

Occupational health and safety
management system

2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-2

Hazard identification, risk assessment, andincident investigation

2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-3

Occupational health services

2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-4

Worker participation, consultation, andcommunication on occupational healthand safety2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-5

Worker training on occupational healthand safety2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-6

Promotion of worker health2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-7

Prevention and mitigation of occupational
health and safety impacts directly linked bybusiness relationships

2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-8

Workers covered by an occupational health andsafety management system

2023 ESG Report—Our Workplace—Maintaining a safe workplace

403-9

Work-related injuries

2023 ESG Report—Our Workplace—Maintaining a safe workplace403-10Work-related ill health2023 ESG Report—Our Workplace—Maintaining a safe workplacePERFORMANCE SUMMARY

2023 ESG ReportGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEX12

GRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

GRI 404: Training and Education
3-3Management of material topic

2023 ESG Report—Business & Governance—Engaging key stakeholders
2023 ESG Report—Our Workplace

404-2

Programs for upgrading employee skills andtransition assistance programs2023 ESG Report­—Our Workplace—Creating a workplace that supports success

404-3

Percentage of employees receiving regularperformance and career development reviews

70% of our employees received an annual performance review during this reporting period. To learn more about our employee training anddevelopment, see Our Workplace—Centering workplace effectiveness and career success section.

GRI 405: Diversity and Equal Opportunity
3-3Management of material topic

2023 ESG Report—Our Workplace—Fostering and leading inclusive teams
Corporate Governance Guidelines

405-1

Diversity of governance bodies and employees

2023 ESG Report—Our Workplace—Fostering and leading inclusive teams

GRI 407: Freedom of Association and Collective Bargaining
3-3Management of material topic

2023 ESG Report—Responsible Supply Chain—Upholding human rights
Global Employment Practices Statement

407-1

Operations and suppliers in which the rightto freedom of association and collective
bargaining may be at risk: Measures takenby the organization in the reporting period
intended to support rights to exercise freedomof association and collective bargaining.

Lam is not aware of any operations or major direct suppliers in which right to freedom of association and collective bargaining (to theextent permitted under local laws) was at risk in 2023.

GRI 408: Child Labor
3-3

Management of material topic

2023 ESG Report—Responsible Supply Chain—Upholding human rights
Global Supplier Code of Conduct408-1

Operations and suppliers at significant risk forincidents of child labor

Lam is not aware of any operations or major direct suppliers in which right to freedom of association and collective bargaining (to theextent permitted under local laws) was at risk in 2023.

2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEX13

GRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

GRI 409: Forced or Compulsory Labor
3-3

Management of material topic

2023 ESG Report—Responsible Supply Chain—Upholding human rights
Global Supplier Code of Conduct409-1

Operations and suppliers at significant risk forincidents of forced or compulsory labor2023 ESG Report—Responsible Supply Chain—Upholding human rights
Global Supplier Code of Conduct
In 2023, we leveraged Responsible Business Alliance tools to assess risks in the regions where our suppliers operate. Through the process,we identified three high-risk countries for child labor and migrant labor. We also received RBA Self-Assessment Questionnaires from severalof our top direct suppliers. From this assessment, none of those suppliers were found to be high risk for forced or compulsory labor. Lam
respects human rights and is committed to adhering to humane business practices wherever the company does business, including complying
with laws such as the U.K. Modern Slavery Act of 2015 and the California Transparency in Supply Chains Act of 2010.

GRI 413: Local Communities
3-3Management of material topic

2023 ESG Report—Our Communities

413-1

Operations with local community
engagement, impact assessments,
and development programs2023 ESG Report—Our Communities—Transformative learning; Resilient communities; Our all-in engagement approach

413-2

Operations with significant actual and potential
negative impacts on local communities

2023 ESG Report—Our Communities—Resilient communities; Inclusive societies
Lam proactively manages and monitors our operations for impacts on local communities.

GRI 414: Supplier Social Assessment
3-3Management of material topic

2023 ESG Report—Business & Governance—Reinforcing a culture of ethics and compliance2023 ESG Report—Responsible Supply Chain—Our comprehensive approach, Upholding human rights

414-1

New suppliers that were screened usingsocial criteria

Lam values a diverse supply chain and is committed to selecting diverse suppliers that offer goods and services that meet our company’s
standards, supplier selection criteria, and customer requirements. Promoting a diverse supplier base is a priority for Lam, and we support a
number of industry and customer initiatives around supplier diversity. Diversity is also included in our supplier scorecard, and we track andreport spending with diverse direct material suppliers on a quarterly basis. We are using this data to facilitate a cross-functional approachto supplier diversity.
We are a member of the SEMI (formerly Semiconductor Equipment and Materials International) Manufacturing Ownership Diversity Task
Force that promotes and shares best practices for manufacturing ownership diversity (more commonly known as “supplier diversity.”).

414-2

Negative social impacts in the supply chain andactions taken

2023 ESG Report—Responsible Supply Chain—Upholding human rights, Fostering supply chain diversity
In 2023, we leveraged Responsible Business Alliance tools to assess risks in the regions where our suppliers operate. Through the process,we identified three high-risk countries for child labor and migrant labor. We also received RBA Self-Assessment Questionnaires from severalof our top direct suppliers. From this assessment, none of these suppliers were found to be high risk for forced or compulsory labor. Lam
respects human rights and is committed to adhering to humane business practices wherever the company does business, including complying
with laws such as the U.K. Modern Slavery Act of 2015 and the California Transparency in Supply Chains Act of 2010.

PERFORMANCE SUMMARY

2023 ESG ReportGRI INDEXSASB INDEXTCFD INDEXUN SDGs INDEXGRI index (continued)
GRI STANDARD/OTHER SOURCEDISCLOSURE

LOCATION/RESPONSE

GRI 415: Public Policy
3-3Management of material topic

2023 ESG Report—Business & Governance—Engaging policymakers and enabling our business

415-1

Political contributions

2023 ESG Report—Business & Governance—Engaging policymakers and enabling our business

GRI 416: Customer Health and Safety
3-3Management of material topic

2023 ESG Report—Business & Governance—Reinforcing a culture of ethics and compliance2023 ESG Report—Product Innovation—Ensuring safe, high-quality products

416-1

Assessment of the health and safety impacts ofproduct and service categories

2023 ESG Report—Product Innovation—Ensuring safe, high-quality product416-2

Incidents of non-compliance concerning the healthand safety impacts of products and services

In 2023, there were zero legal actions concerting the health and safety impacts of products and service.

GRI 418: Customer Privacy
3-3Management of material topic

2023 ESG Report—Business & Governance—Protecting data and intellectual property

418-1

Substantiated complaints concerning
breaches of customer privacy and lossesof customer data

In 2023, we did not experience any losses or breaches of customer data that resulted in a material adverse effect on the Company.
For more information, see our 2023 ESG Report—Business & Governance—Protecting data and intellectual property section.

14

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15

UN SDGs INDEXSASB index

Lam Research is reporting to the SASB Standards to bring industry-specific rigor to our sustainability disclosure. We are reporting to the Semiconductors Standard which mostclosely aligns with the business.
TOPIC

ACCOUNTING METRIC

CODE

CATEGORYRESPONSE/REFERENCE

GHG Emissions(1) Gross global Scope 1 emissions(2) Amount of total emissions from perfluorinated compounds

TC-SC-110a.1

Quantitative(1) 190,124 MTCO2e (2) 3,217 MTCO2e

Discussion of long-term and short-term strategy or plan to manage
Scope 1 emissions, emissions reduction targets, and an analysis ofperformance against those targets.

TC-SC-110a.2

Discussion and Analysis

2023 ESG Report—Sustainable
Operations—Moving toward net zero

Energy Management(1) Total energy consumed(2) Percentage grid electricity(3) Percentage renewable

TC-SC-130a.1

Quantitative(1) 449,000 MWh (2) 76% (3) 50%

Water Management(1) Total water withdrawn(2) Total consumed percentage of each in regions with water High orExtremely High Baseline Water Stress

TC-SC-140a.1

Quantitative(1) 403 million gallons (2) 48.9%

Waste Management(1) Amount of hazardous waste from manufacturing(2) Percentage recycled

TC-SC-150a.1

Quantitative(1) 1,684 metric tons (2) 53%

Employee Health and Safety

Description of efforts to assess, monitor, and reduce exposure of
employees to human health hazards.

TC-SC-320a.1

Discussion and Analysis

2023 ESG Report—Our Workplace—
Maintaining a safe workplace

Total amount of monetary losses as a result of legal proceedings
associated with employee health and safety violations

TC-SC-320a.2

Quantitative$0

Percentage of employees that are:(1) Foreign nationals(2) Located offshore

TC-SC-330a.1

Quantitative

Lam does not believe this is a material
metric to our business due to our global
footprint. A breakdown of employees byregion and other material human capital
metrics are available in the Introduction
section as well as in Our Workplace—
Fostering and leading inclusive teams
sections of this report.

Recruiting and Managing a
Global and Skilled Workforce

2023 ESG Report

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16

UN SDGs INDEXSASB index (continued)
TOPIC

ACCOUNTING METRIC

CODE

CATEGORYRESPONSE/REFERENCE

Product Lifecyle Management

Percentage of products by revenue that contain IEC 62474
declarable substances

TC-SC-410a.1:

Percentage (%)

Lam discloses information on our productstrategy and value chains. We do notbelieve that percentage of revenue isa material metric to disclose.

Processor energy efficiency at a system-level for:(1) Servers,(2) Desktops, and(3) Laptops

TC-SC-410a.2:

Various, by product category

Not Applicable. Lam Research does not
manufacture servers, desktops,or laptops.

Description of the management of risks associated with the use ofcritical materials

TC-SC-440a.1

N/A

2023 ESG Report—Responsible Supply
Chain—Ethically sourcing raw materials

Materials Sourcing

2023 ESG Report—Product Innovation—
Innovating smart, sustainable solutions;
Delivering lifecycle solutions
Intellectual Property Protection
and Competitive Behavior

Total amount of monetary losses as a result of legal proceedings
associated with anti-competitive behavior regulations

TC-SC-520a.1

Reporting currency$0

Total Production

TC-SC-000.A

Quantitative

Approximately 6,000 chambers YoY

Percentage of Production from Owned Facilities

TC-SC-000.B

Quantitative

All process modules are assembled,
tested, and inspected for quality at
Lam facilities.

Activity Metrics

2023 ESG Report

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17

UN SDGs INDEXTCFD index
DISCLOSURE FOCUS
AREA

RECOMMENDEDDISCLOSURE

2023 RESPONSE

2023 REFERENCEa) Describe the board’s
oversight of climate-relatedrisks and opportunities.

Our Board is actively engaged in ESG oversight. The Nominating and Governance Committee (NGC) has
the primary responsibility for our ESG priorities, including reviewing our 2025, 2030, and 2050 climate andenergy goals and our 2025 waste and water goals. In 2023, management provided updates to the Boardor its committees quarterly and engaged them to discuss ESG strategy, gain alignment on goals, and reporton progress. The Board is made aware of climate-related risks identified through our risk management
processes as issues arise. The full Board receives the annual ESG Report before it is published and the
NGC reviews and provides feedback.

2023 ESG Report—Business& Governance—Holding
ourselves accountable

Our CEO and members of the CEO staff participate in our ESG executive steering committee, which is
responsible for guiding our ESG strategy, approving and supporting initiatives, and holding businessleaders accountable.

2023 ESG Report—Introduction—
Achieving ESG progress

Governance
Disclose the organization’s
governance aroundclimate-related risks
and opportunities.

b) Describe management’s
role in assessing andmanaging climate-relatedrisks and opportunities.

In 2021, we formed a net zero leadership team that is responsible for working with business units tointegrate climate considerations into decision-making processes, driving progress on our net zerostrategy, and tracking GHG performance on our climate goals. Each of our active working groups has anaccountable executive responsible for the activity and progress toward our net zero goal.

2023 CDP Climate Change C1.1a, C1.1b

2023 ESG Report—Business& Governance—Holding
ourselves accountable
2023 CDP Climate Change C1.1a, C1.1b,
C1.2, C1.3, C1.3a

Strategy
Disclose the actualand potential impactsof climate-related risks
and opportunities on
the organization’s
businesses, strategy
and financial planning.

a) Describe theclimate-related risks
and opportunities theorganization has identified
over the short, medium, andlong term.

Through a Climate Risk Analysis conducted in conjunction with a third-party, Lam Research has
identified a range of potential physical, market/technology and policy/legal risks and opportunities.
Risks:• Changing customer expectations• Competitors developing lower-impact products• Operational disruptions from flooding, natural hazards, rising temperatures, and/or water stress• Natural hazards leading to supply chain disruptions and/or preventing access to the operational workplace• Regulation of Lam’s direct operations, customer operations, and/or raw materials (e.g., carbon pricing)• Reputational impacts from poor performance on external climate-related engagements• Water stress impacting major customer operations
Opportunities:• Expansion of end-use markets• Improving resilience of business operations through asset hardening• Operational footprint reduction• Reduced resource consumption of sold products
Lam is factoring these potential risks and opportunities into the development of less energy intensive
products, capital funding for climate-related operations projects, including energy conservation, andthrough engaging with suppliers on environmental sustainability opportunities. The physical risks areincorporated into the business continuity planning activities across the company and vary based onsite-specific risk profiles.
For more information on Lam’s progress to mitigate climate risk, see the Product Innovation,
Sustainable Operations, and Responsible Supply Chain sections of the 2023 Environmental, Social,and Governance Report.

2023 ESG Report—Sustainable
Operations—Moving towards net zero;
Enhancing energy efficiency
2023 ESG Report—Product Innovation—
Innovating smart, sustainable solutions
2023 ESG Report—Responsible
Supply Chain—Collaborating toadvance climate action
2023 CDP Climate Change C2.1a, C2.3,
C2.3a, C2.4, C2.4a, C3.1, C3.3, C3.4

2023 ESG Report

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18

UN SDGs INDEXTCFD index (continued)
DISCLOSURE FOCUS
AREA

RECOMMENDEDDISCLOSURE

2023 RESPONSEb) Describe the impact
of climate-related risks
and opportunities on theorganization’s businesses,
strategy, and financial
planning.

2023 REFERENCE
2023 ESG Report—Sustainable
Operations—Moving towards net zero2023 ESG Report—Responsible
Supply Chain—Collaborating to advanceclimate action
2023 CDP Climate Change C2.3a, C2.4a,C3.1, C3.3, C3.4c) Describe the resilience ofthe organization’s strategy,
taking into considerationdifferent climate-related
scenarios, including a 2°C or
lower scenario.

Lam has completed a qualitative scenario analysis with plans to add quantitative in the next two years.
To bolster Lam’s resilience against the various climate-related scenarios, the company is:• Undertaking deeper analysis on the climate risks that may have the potential to impact Lam
such as reputational and customer expectation risks, along with potential climate disclosure andpractice regulation• Incorporating those identified risks into our risk management system• Developing plans to mitigate those identified risks over time
• Setting short-, medium-, and long-term climate goals to mitigate our operational impacts• Developing plans to address our carbon impacts across our value chain—including our supply chain,
operations, and product use

2023 ESG Report—Sustainable
Operations—Moving towards net zeroa) Describe theorganization’s processes for
identifying and assessing
climate-related risks.

Lam conducted a qualitative climate risk analysis that involved engaging internal stakeholders,
conducting research, and applying our internal risk rating system to assess the likelihood and impactof those potential climate risks.

2023 ESG Report—Sustainable
Operations—Moving towards net zerob) Describe theorganization’s processes for
managing climate-relatedrisks.

We’ve utilized a third-party platform to assess the physical climate risks associated with our key
manufacturing and lab facilities along with some of our top supplier locations. The assessment
provides a scorecard with potential exposure to hazards affected by climate change including: heatstress, floods, sea level rise, wildfire, water stress, hurricanes, typhoons, and earthquakes. Results ofthese assessments have been shared with appropriate leadership within the business and are being
incorporated into our regular business continuity planning processes. Additionally, we utilize this tool
when assessing the potential for siting of new facilities globally.

2023 CDP Climate Change C3.2, C3.2a

Risk Management
Disclose how theorganization identifies,
assesses and manages
climate-related risks.

Lam has an established enterprise risk management system, which we aim to utilize to address any
identified material climate risks in the future. Within this system, risk owners for each material climate
risk will be identified and expected to report on the risks and any associated mitigation actions on aregular basis.

We also have a robust EH&S risk inventory system and process for evaluating our risks in accordancewith our ISO 14001 certification. More details can be found in our 2023 CDP Climate Change disclosure.

2023 CDP Climate Change C2

2023 ESG Report—Sustainable
Operations—Moving towards net zero2023 CDP Climate Change C3.3, C3.4

2023 ESG Report

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19

UN SDGs INDEXTCFD index (continued)
DISCLOSURE FOCUS
AREA

2023 REFERENCE

RECOMMENDEDDISCLOSURE

2023 RESPONSEc) Describe how processes
for identifying, assessing,and managing climaterelated risks are integrated
into the organization’s
overall risk management.

As part of our net zero governance, we hold regular meetings with our working group leads and accountable 2023 ESG Report—Sustainable
executives. We ask these leaders to identify potential risks and escalate those accordingly. We adjust our Operations—Moving towards net zerostrategy as risks are identified and put mitigation plans in place.
For key transition risks such as changing customer expectations and competitors developing low impact
products, we work closely with our global customer operations team to understand the customer’s
environmental sustainability expectations and incorporate them into our product sustainability initiatives.
We collaborate with our customers to identify the most impactful and cost effective opportunities toreduce emissions and energy use of our tools. Finally, we stay abreast of what our competitors areoffering in this space.
For regulatory risks, we monitor the various emerging regulations that have an impact on environmental
practices and reporting through our government affairs team and industry associations. As a result, wealign our net zero strategy to reflect any changing requirements. In 2023 we formalized a regulatory andgovernance committee that is comprised of representatives from corporate legal, internal audit, ESG, andfinance to prepare for upcoming regulatory reporting requirements, including the EU, California and U.S.
SEC regulations.
Reputational risk transparency and reporting is a key pillar of our net zero strategy. We communicate
regularly with our external stakeholders to share our climate strategies and goals, report annually throughour ESG report, and disclose to a variety of third-party rating entities on our progress including: CDP, DJSI,ISS, and MSCI.

2023 ESG Report

PERFORMANCE SUMMARYGRI INDEXSASB INDEXTCFD INDEX

20

UN SDGs INDEXTCFD index (continued)
DISCLOSURE FOCUS
AREA

RECOMMENDEDDISCLOSURE

2023 RESPONSE

2023 REFERENCEa) Disclose the metrics
used by the organization toassess climate-related risks
and opportunities in linewith its strategy and risk
management process.

Lam Research monitors several metrics to measure progress toward achieving our 2025, 2030, 2040,
and 2050 net zero goals, including emissions generated and energy consumption metrics.

2023 ESG Report—Sustainable
Operations—Moving towards net zerob) Disclose Scope 1, Scope2, and, if appropriate, Scope
3 greenhouse gas (GHG)
emissions, and the relatedrisks.

Please refer to our reporting on Scope 1, 2, and 3 emissions on page 32 of the Sustainable Operations
section. See the Strategy section of this index for emissions-related risks.

Metrics and Targets
Disclose the metrics andtargets used to assess
and manage relevant
climate-related risks andopportunities.

2023 ESG Report—Responsible
Supply Chain—Collaborating toadvance climate action
2023 ESG Report—Key Data andFrameworks—Performance summary
2023 ESG Report—Sustainable
Operations—Moving towards net zero2023 ESG Report—Responsible
Supply Chain—Collaborating toadvance climate action
2023 ESG Report—Key Data andFrameworks—Performance summaryc) Describe the targets
used by the organization
to manage climate-relatedrisks and opportunities
and performance against
targets.

Targets:• Achieve 100% renewable electricity globally by 2030
• Reduce absolute Scope 1 and 2 (market-based) greenhouse gas (GHG) emissions 25% by 2025 and60.6% by 2030 from a 2019 baseline• Achieve 12 million kWh in total energy savings from a 2019 baseline by 2025
• 83% of customers and 46.5% of suppliers measured by emissions will set science-based targets(SBTs) by 2025
• Achieve net zero emissions for our operations by 2040
• Achieve net zero emissions across all scopes by 2050
For more information see the Introduction—Achieving ESG progress section for performance against
targets.

2023 ESG Report—Introduction—
Achieving ESG progress
2023 ESG Report—Sustainable
Operations—Moving towards net zero

2023 ESG Report

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21

UN SDGs INDEXUN SDGs
GOAL

RELEVANT TARGETS

HOW WE ARE CONTRIBUTINGCORRESPONDING UN GLOBAL COMPACT PRINCIPLES

3.9 By 2030, substantially reduce the number of deaths andillnesses from hazardous chemicals and air, water and soil
pollution and contamination

2023 ESG Report—Sustainable Operations
2023 ESG Report—Our Workplace2023 ESG Report—Responsible Supply Chain

4. The elimination of all forms of forced and compulsory labor
7. B usinesses should support a precautionary approach toenvironmental challenges
8. Undertake initiatives to promote greater environmental
responsibility
9. Encourage the development and diffusion of environmentallyfriendly technologies

4.3 By 2030, ensure equal access for all women and men
to affordable and quality technical, vocational and tertiary
education, including university

2023 ESG Report—Our Workplace2023 ESG Report—Our Communities

2. Make sure that they are not complicit in human rights abuses
6. The elimination of discrimination in respect of employment
and occupation

4.4 By 2030, substantially increase the number of youth
and adults who have relevant skills, including technicaland vocational skills, for employment, decent jobs andentrepreneurship
8.2 Achieve higher levels of economic productivity throughdiversification, technological upgrading and innovation,
including through a focus on high-value-added and laborintensive sectors

1. Businesses should support and respect the protection ofinternationally proclaimed human rights

2023 ESG Report—Responsible Supply Chain
2023 ESG Report—Our Workplace2023 ESG Report—Product Innovation

6. The elimination of discrimination in respect of employment
and occupation

2023 ESG Report—Responsible Supply Chain
2023 ESG Report—Our Workplace2023 ESG Report—Our Communities

1. Businesses should support and respect the protection ofinternationally proclaimed human rights

10. Businesses should work against corruption in all its forms,
including extortion and bribery

8.5 By 2030, achieve full and productive employment anddecent work for all women and men, including for young
people and persons with disabilities, and equal pay for workof equal value
10.2 By 2030, empower and promote the social, economic andpolitical inclusion of all, irrespective of age, sex, disability, race,
ethnicity, origin, religion or economic or other status10.4 Adopt policies, especially fiscal, wage and social
protection policies, and progressively achieve greater equality
13.2 Integrate climate change measures into national policies,
strategies and planning

6. The elimination of discrimination in respect of employment
and occupation
10. B usinesses should work against corruption in all its forms,
including extortion and bribery

2023 ESG Report—Product innovation
2023 ESG Report—Sustainable operations

7. B
 usinesses should support a precautionary approach toenvironmental challenges
8. Undertake initiatives to promote greater environmental
responsibility
9. Encourage the development and diffusion of environmentallyfriendly technologies