Analysts from the following firms follow the progress of Lam Research Corporation and periodically issue reports, all of which are independent of Lam's input.

It is Lam's policy not to distribute any analyst reports written on our Company. In addition, we do not endorse any analyst's projections.

Firms:

B. Riley & Co. Bank of America / Merrill Lynch Barclays
Berenberg Bernstein BNP Paribas
Citi Cowen Credit Suisse
D. A. Davidson Deutsche Bank Evercore ISI
Goldman Sachs J.P. Morgan KeyBanc Capital Markets
Morgan Stanley Needham & Company Stifel, Nicolaus & Company
Susquehanna UBS Securities LLC Wells Fargo Securities

Lam Research Corporation is followed by the analysts listed above. Please note that any opinions, estimates or forecasts regarding Lam Research Corporation's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Lam Research Corporation or its management. Lam Research Corporation does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

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