Micron provides update on impact of CAC decision

The impact of the May 21st decision by the Cyberspace Administration of China, or CAC, on the business of Micron remains uncertain and fluid. Micron’s revenue with companies headquartered in mainland China and Hong Kong, including direct sales as well as indirect sales through distributors, accounts for approximately a quarter of Micron’s worldwide revenue and remains the principal exposure. We currently estimate that approximately half of that China-headquartered customer revenue, which equates to a low-double-digit percentage of Micron’sworldwide revenue, is at risk of being impacted. Micron is working to mitigate this impact over time and expects increased quarter-to-quarter revenue variability. Micron’s long-term goal is to retain its worldwide DRAM and NAND share. Comments taken from Q3 prepared remarks.