On August 26, 2019, Stephen G. Newberry, a member of the board of directors (the “Board”) and the chairman of the Board of Lam Research Corporation (the “Company”) notified the Company that he is retiring from his positions with the Company effective as of the close of business on November 4, 2019. Following Mr. Newberry’s retirement, Abhijit Y. Talwalkar, who currently serves as the Company’s lead independent director, will become chairman of the Board (contingent on Mr. Talwalkar’s re-election as a director at the 2019 annual meeting of stockholders) and there will be no lead independent director position.

In addition, on August 21, 2019, Christine A. Heckart, a member of the Board, notified the Company that she is resigning from her position with the Company effective as of the close of business on November 4, 2019.

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About LAM RESEARCH CORPORATION (NASDAQ:LRCX)

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The Company designs, manufactures, markets, refurbishes and services semiconductor processing systems that are used in the fabrication of integrated circuits (ICs). It operates through manufacturing and servicing of wafer processing semiconductor manufacturing equipment segment. Its products are designed to enable its customers build a range of devices that are used in a range of electronic products, including cell phones, tablets, computers, storage devices, and networking equipment. Its customer base includes semiconductor memory, foundry, and integrated device manufacturers (IDMs) that make products, such as dynamic random-access memory (DRAM), negative-AND (NAND) memory and logic devices. It offers a portfolio of products that are used in several areas of the semiconductor manufacturing process flow, including thin film deposition, plasma etch and single-wafer clean.