Annual GreenBond Report2023

Introduction

Green Bond Allocation & Impacts

Featured Projects

Appendix

Introduction
Intel’s Approach to Sustainability
Intel’s purpose is to create world-changing technology that improves the lives of every person on earth, and our continuingcommitment to corporate responsibility is embedded in our purpose. That commitment—built on a strong foundation oftransparency, governance, ethics and respect for human rights—creates value for Intel and our stakeholders by helping us
mitigate risks, reduce costs, build brand value and identify new market opportunities to apply our technology to help
address society’s most complex issues.

RISE Strategy and Sustainability Commitment
In 2020, Intel outlined our RISE strategy and 2030 commitments
as we seek to create a more responsible, inclusive and sustainable
world, enabled through our technology and the expertise andpassion of our employees.
In 2022, Intel announced plans to further reduce our direct andindirect greenhouse gas (GHG) emissions and develop moresustainable technology solutions. Intel established a goal toachieve net-zero GHG emissions in our global operations by2040, to reduce Scope 3 supply chain emissions to at least 30%
lower by 2030 than they would be in the absence of investment
and action and to increase the energy efficiency and lower thecarbon footprint of Intel products and platforms.
In 2023, Intel announced an expansion of our net-zerocommitment to include net-zero upstream Scope 3 GHG
emissions by 2050.

Intel’s Green BondIn August 2022, Intel issued our first Green Bond, a 10-year, USD 1.25 billion senior notes offering with a fixed coupon
rate of 4.15% per annum.

$1.25BIntel issued a total of $1.25
billion in green bonds in2022, with $0.425B
allocated as of the end of2022“Intel’s first-ever green bond aligns our financing priorities with ourcommitment to sustainable business practices. It will help us advancethe goals we have undertaken in our RISE framework, including
our commitment to net-zero greenhouse gas emissions across global
operations by 2040 and enable us to accelerate investment in areas
where we can have a significant and immediate impact on global
environmental issues.
-David Zinsner, Intel’s Chief Financial Officer”

Intel Green Bond Report 20232IntroductionGreen Bond Allocation & Impacts

Featured Projects

Appendix

Green Bond Allocation
Allocation Details
This year’s report describes Intel’s use of proceeds in Intel’s 2021 and 2022 fiscal years, and the associated impact ofthese investments. Intel is utilizing a lookback period to include 2021 and 2022 fiscal years in reporting. The net proceedsof the green bond offering are used to fund eligible projects in six key areas that support Intel’s sustainability goals as
detailed in the Intel Green Financing Framework dated August 2022. This framework is aligned with the Green BondPrinciples, Social Bond Principles and the Sustainability Bond Guidelines.

Eligible Project Areas
Green Buildings
Investments and financings related
to real estate projects such as data centers,offices, factories and other facilities that haveor are expected to receive third-party
sustainability certifications or verification.

Energy Efficiency
Investments related to design, construction,
operation and maintenance of energy/utility
consumption saving projects.

Circular Economy andWaste Management
Investments related to waste reduction,
landfill avoidance, upcycling of waste, waste
reclamation, segregation, recycling and/or
reuse in our manufacturing operations andsupply chain.

Pollution Preventionand Control
Investments aimed at reduction of airemissions and GHG emissions control andprevention.

Water Stewardship

Renewable Energy

Investments in efficient water management,conservation and watershed restoration.

Investments related to improving existing
assets, implementing renewable electricity
programs and securing power purchaseagreements (PPAs).

Project Selection and Reporting
A committee consisting of representatives from Corporate Sustainability, Corporate Responsibility, Legal, Treasury,
Finance and other Intel teams responsible for managing ESG initiatives and risks is responsible for the evaluation, selectionand assessment of the performance of eligible spending and projects, on an annual basis, to ensure alignment with our Green
Financing Framework. Intel has established and adhered to a list of spending to be excluded from any Green Bondallocation. In addition, the use of proceeds spending allocation follows an internal process that includes final review andapproval by Intel’s Chief Sustainability Officer.
Intel Green Bond Report 2023

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Green Bond Allocation & Impacts

Featured ProjectsAppendix

Green Bond Allocation
Green Bond Cumulative Allocation
2021 & 2022 Fiscal Years Update

Eligible Project Category Breakdown (in millions)$425M
Total Allocationin Millions(~34% allocated)$21

Circular Economy andWaste Management$39

Renewable
Energy$51

EnergyEfficiency

$99

Water
Stewardship

Prevention$215 Pollutionand Control

Annually, until full allocation of the net proceeds from the sale of any Green Bond, and on a timely basis in case of material
developments, Intel will publish a Green Bond Impact Report. Such reports will include the amount of net proceeds fromthe sale of any Green Bonds that have been allocated to one or more Eligible Projects either individually or by category, thelist of eligible project categories with brief descriptions, estimated impact metrics where feasible and the outstanding
amount of net proceeds from the sale of any Green Bond yet to be allocated to Eligible Projects at the end of the reporting
period.

Outstanding Net Proceeds$820 Million

Total Net Proceeds$1.245 Billion

Environmental Impacts
The $425 million of spending to which Intel allocated Green Bond funds is estimated to have contributed to the following
environmental benefits during 2021 and 2022, as well as others not explicitly mentioned below. Many of the projects towhich the funds were allocated have long life spans and will continue to have an impact well into the future. Environmental
impacts were calculated based on internal measurements and project tracking, calculation or estimations using publishedemission factors such as IEA carbon dioxide equivalent (CO2e) emission factors and WRI GHG Protocol, internalmonitoring such as site water models and project tracking, such as energy conservation project design and implementation.

5.3M

59M

4.5B

56,0001,900

metric tons
GHG reduced(as CO2e)kWhenergy savings

gallons of watersavedtons
waste diverted
from landfill

tons
wastereduction

Intel Green Bond Report 20234Introduction

Green Bond Allocation & Impacts

Featured Projects

Appendix

Featured Projects
Energy Conservation Program
Reducing energy use in our operations is core to Intel’s overall climate strategy and our 2030 and 2040
sustainability goals. Intel has established a goal to conserve 4 billion kWh of energy from our 2020 baselineby 2030.
We have allocated Green Bond funds to various energy conservation projects in 2021 and 2022 and in total the company isinvesting approximately $300 million in energy conservation projects in order to achieve this goal. Intel invested in newenergy conservation projects that saved approximately 162 million kWh in 2021 and approximately 160 million kWh in
2022, of electricity. We have identified strategic investment areas in efficient lighting, chilled water cooling, compressed
air and heat recovery and electrification. We have identified strategic investment opportunities in a number of areas within
our global operations.To reduce energy usage in operations, we are investing in HVAC upgrades and heat recovery
projects. For new factory construction projects, we are incorporating energy efficiency into design and equipment
selections. Through occupancy and light-level control LED lighting in both manufacturing and non-manufacturing spaces,
we expect up to a 90% reduction in lighting energy use.

Point of Use Abatement
Intel manufactures semiconductors, which requires the use of GHGs with high global warming potential.
Despite years of research into alternatives, no viable substitutes exist or are on the research anddevelopment horizon. For over two decades, Intel has set ambitious GHG reduction goals, including use of
GHG point of use (POU) abatement.
This abatement technology uses high temperature flame and/or plasma-based solutions to convert unused process gases
into byproducts and flush them away with water which is then scrubbed with filters.
Intel has installed POU abatement technologies throughout our manufacturing facilities and will continue to do so in new
facilities. As a result of abatement and other strategies, such as renewable electricity, process optimization and energy
conservation, we have avoided around 80% of our Scope 1 and 2 GHG emissions over the last decade. To make further
progress, Intel has set 2030 and 2040 Scope 1 and 2 GHG reduction targets: 10% reduction from 2019 by 2030, ultimately
reaching net-zero GHG across global operations by 2040. Intel invests heavily in advanced abatement technology to limit
emissions and we have allocated Green Bond funds to the purchase of these POU abatement systems in 2021 and 2022.

Water Treatment & Reclaim
Intel recognizes that water is a shared natural resource of critical importance to the communities where we
operate and essential to semiconductor manufacturing. As such, we are committed to managing water
efficiently and continuously strive for leadership in water stewardship. We committed to reaching net
positive water by 2030.
We are achieving this goal by conserving 60 billion gallons (BG) of water and funding watershed restoration projects formore than 100% of our fresh water consumption. Over the last two years, we conserved approximately 19 BG in ouroperations and community partnerships and enabled restoration of more than 5 BG through project funding. Theseachievements advanced us toward our goal of net positive water, resulting in 107% (by volume) of global fresh water
treated and returned to communities or environment and restored through watershed projects.
In 2022, we achieved net positive water in two countries: the US and India. During 2021 and 2022, we made significant
progress in the operation of our on-site water reclaim facilities. These innovative water treatment plants allow Intel to treat
and reuse water in systems such as cooling towers and scrubbers, resulting in a substantial increase in water conservation.
Our Ocotillo, Arizona site’s water reclaim facility, for example, conserved more than 6.3 BG in 2021 and 2022. A significant
portion of this water savings was due to the onsite water reclaim facility. We have allocated Green Bond funds for thesewater reclaim facilities.

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Green Bond Allocation & Impacts

Featured Projects

Appendix

Appendix
Environmental Impact Metric Calculation Methodologies
ISS Report Review

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Green Bond Allocation & Impacts

Featured Projects

Appendix

Environmental Impact Metric Calculation Methodologies
Metric: 5.3M metric tons GHG reduced (as CO 2e)
Calculation Methodology:• GHG Reductions:
1. Utilized process-specific information and IPCC emission factors/global warming potentials to quantify theamount of greenhouse gas emissions reduced through pollution prevention and control equipment.
2.Utilized consumption of electricity and EPA eGRID and IEA emission factors to quantify the amount ofgreenhouse gas emissions reduced through the purchase of renewable energy. (Note: Location-based andmarket-based GHG emissions are assured annually by a 3rd-party assurer, APEX. See Intel’s Limited Assurance
Letter on page 96 of our CSR Report).
Metric: 59M kWh energy savings
Calculation Methodology:• Utilized the tracking of energy conserved from projects to quantify the amount of kilowatt hours saved throughenergy efficiency. (Note: Energy conservation from global energy conservation projects, of which this value is asubset, is assured annually by a 3rd-party assurer, APEX. See Intel’s Limited Assurance Letter on page 96 of our CSR
Report).
Metric: 4.5B gallons of water saved
Calculation Methodology:• Utilized site water conservation tracking and Water Management Application (WMA) models to quantify the amountof water saved through water stewardship. (Note: Global and site-specific water conservation, of which this value is asubset, is assured annually by a 3rd-party assurer, APEX. See Intel’s Limited Assurance Letter on page 96 of our CSR
Report).
Metric: 56,000 tons waste diverted from landfill
Calculation Methodology:• Tracked waste recycled and reused with documentation such as manifests, waste contractor reports, bills of landing
and invoices to quantify the amount of waste diverted from landfill through circular economy and waste management
strategies.
Metric: 1,900 tons waste reduction
Calculation Methodology:• Utilized waste manifests to determine the amount of waste disposed of off-site which is now treated in an expanded,on-site wastewater treatment system. This was used to quantify the amount of waste reduced through circular
economy and waste management strategies.

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