Business update final

1. Maxim Integrated Business Model Update
September 5, 2017

2. Safe Harbor
2
This presentation contains forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements include, without limitation, the Company’s projections and statements
regarding revenue, gross margin, earnings per share, capital expenditures and other financial and business
metrics. These statements involve risks and uncertainties that could cause actual results to differ
materially from expectations. Please refer to the Company’s Annual Report on Form 10-K for the fiscal
year ended June 24, 2017 for a description of some of the risk factors that could cause actual results to
differ materially from such forward-looking statements.
All forward-looking statements included in this presentation are made as of the date hereof and based on
the information available to the Company as of the date hereof. The Company assumes no obligation to
update any forward-looking statement.

3. Topics
3
1 Business Strategy Update Tunç
2 Financial Model Update Bruce
3 Q&A

4. FY17 Financial Results
4
Financial Metric FY16 FY17 Change
Revenue $2.2B $2.3B +5%
Gross Margin 61.9% 65.2% +330bps
Operating Margin 27.5% 32.7% +520bps
Operating Income $603M $751M +25%
Earnings Per Share $1.63 $2.12 +30%
Note: All measures exclude Special Items

5. Strategic Priorities
5
• Achieve market CAGR
• Grow all markets
Growth1
• Grow our SMB revenue
• Take advantage of
manufacturing tailwinds
• Grow OpEx at half rate of
revenue
Profitability2
• Avoid dependence on any
single market or customer
• Weigh ROI of new projects
against risk
Stability3

6. Targeted Applications in Key Markets
6
Automotive Industrial Data Center Mobility
Power
Interface
RF
Power
Optical
Power
Signal Chain
Interface
Micros
Security
Sensors
Power
Audio
Sensors

7. 1. Maxim Solutions for Automotive
7
Battery Management (EV/Hybrids)
Infotainment
Auto Body
Electronics
Electric Powertrain
Advanced
Driver
AssistancePower
Serial Link
USB ChargingPower Management Remote Tuner Serial Link
Power
LED Lighting

8. Continued Support for Above-Market Automotive Growth
8
0% 50%
Auto Body
Electronics
Infotainment
ADAS
Battery Mgmt
Systems
0% 50%
Japan
Rest of Asia
Europe
Americas
China
Korea
Lifetime Revenue from Design Wins, FY13  FY17 CAGR

9. 2. Enable the Factory of the Future
• IO-Link Comms connect the outermost
branches of the factory to the network
• Small footprint, efficient power management
• $700M market in Power and Comms growing
at 10% CAGR
9
Enterprise
Planning Level
Process
Control Level
PLC Control
Level
Field Level
Sensors &
Actuators
Maxim Communications and
Power Management Served Market
Industrial Interfaces
IO Links

10. Industrial and Automotive Growth Diversifying Revenue
10
Note: Due to nature of our general purpose products, estimates by Major Markets are imprecise
FY12 FY17
Automotive
Industrial
All other
markets30% 49%
Improving revenue stability and profitability

11. 3. 100G Intra-Data Center Optical Market Growing at 20% CAGR
11
Rack-to-Rack and Within-Rack
Communication
Maxim’s Differentiation
1. Proprietary IP cores for low power
2. Unique architecture lowers heat and cost
3. Digital tuning optimizes performance,
improves module yields
Serving Virtually All Cloud-Data Center Customers

12. Capture the Broad Market
12
Added 4 new distribution partners
Enhanced field support in Europe,
Americas, China and Rest of Asia
Improving website collateral for
unassisted design wins
FY12 FY17
29%
Distribution
42%
Distribution

13. Long-Term Growth Expectations by End Market
13
Automotive
Up in low teens
Infotainment, ADAS & electric vehicles

14. Long-Term Growth Expectations by End Market
14
Automotive
Up in low teens
Infotainment, ADAS & electric vehicles
Industrial
Up high-single digits
Factory automation & broad market business

15. Long-Term Growth Expectations by End Market
15
Automotive
Up in low teens
Infotainment, ADAS & electric vehicles
Industrial
Up high-single digits
Factory automation & broad market business
Comms & Data Center
Up mid-single digits
Data Center optical connectivity & power

16. Long-Term Growth Expectations by End Market
16
Automotive
Up in low teens
Infotainment, ADAS & electric vehicles
Industrial
Up high-single digits
Factory automation & broad market business
Comms & Data Center
Up mid-single digits
Data Center optical connectivity & power
Consumer
Flat to up
Product diversification

17. Financial Model Update

18. Old Model Current Model Q417 Results
Revenue Growth 3 to 5 Pts Above Market 50% Above Market +6% YoY
Gross Margin 61 – 64% ~65% 67.2%
Operating Margin 30%+ ~35% 35.8%
Free Cash Flow Margin
% of Revenue
25 – 30% 30 – 35% 31.5%
Current Financial Performance
18
Note: All measures exclude Special Items
↔

19. Gross Margin Surpassed 65% Target
55%
58%
61%
64%
67%
70%
Q4
FY14
Q4
FY15
Q4
FY16
Q4
FY17
Previous Target
67%
19
Note: Measures exclude Special Items

20. Lower Costs Through Flexible Manufacturing
Internal
FY12
External
Foundry
FY17
External
San
Antonio
Internal
Oregon
Internal
San
Antonio
Combine advanced foundry capabilities & Maxim’s proprietary processes
20
Internal
OregonInternal
San Jose
External
Foundry
Process Flow
Maxim’s
Proprietary
Process

21. Depreciation – CapEx Gap: Tailwind for Gross Margin
21
0%
2%
4%
6%
8%
10%
12%
FY12 FY13 FY16 FY17 FY18
CapEx
Depreciation
Depreciation will
decline to CapEx
Note: Depreciation excludes accelerated depreciation
Measures exclude Special Items
% of Revenue

22. Improving Customer Revenue Diversification
22
FY12 FY17
Broad-based
customers
Top 10
customers
59% 69%

23. Tailwinds Drive Gross Margin Higher
Improved utilization of existing Oregon fab
Flexible foundry capacity
Depreciation decline towards CapEx
Grow in SMB customer base
Improving Pricing Environment
23
67 – 70%
Gross Margin Performance

24. Maintain Tight Controls on Operating Expenses
Efficient spending, focused R&D effort
Expect to grow OpEx at less than half the revenue growth rate
Quarterly OpEx [$M]
Note: Measures exclude Special Items
$170
$185
$200
$215
$230
Q4
FY14
Q4
FY15
Q4
FY16
Q4
FY17
Portfolio Mgmt and
Spending Controls
24

25. Operating Margin Surpassed 35%
20%
25%
30%
35%
40%
Q4
FY14
Q4
FY15
Q4
FY16
Q4
FY17
New Target Range
25
Previous Target
Note: Measures exclude Special Items

26. New Target
Old Target
Range
$550
$600
$650
$700
$750
FY14 FY15 FY16 FY17
Higher Profitability & Lower CapEx Drive Free Cash Flow
26
Raising free cash flow margin target: >35% of revenue
Free Cash Flow [$M] Free Cash Flow % of Revenue
Note: Measures exclude Special Items
Free Cash Flow = Cash Flow from Operations – Gross Capital Expenditures
20%
25%
30%
35%
40%
FY14 FY15 FY16 FY17

27. $0.20
$0.22
$0.24
$0.26
$0.28
$0.30
$0.32
$0.34
FY11 Q4 FY13 Q4 FY15Q4 FY17 Q4
27
$0
$50
$100
$150
$200
$250
FY11 Q4 FY13 Q4 FY15 Q4 FY17Q4
Dividends & Share Repurchases
Dividend
Buyback
+9%
+8%
+8%
Board approved new share repurchase
authorization of $1B beginning FY18 Q1
$0.33
+7%
+10%
Quarterly dividend increased 9%
to $0.36 per share, beginning FY18 Q1
Quarterly Cash Dividend Per Share
Return of Cash to Shareholders

28. Current Model New Model
Revenue Growth 50% Above Market At Market
Gross Margin ~65% 67 – 70%
Operating Expense, % of Revenue ~30% Grow at ½ Revenue Rate
Operating Margin ~35% 37 – 40%
Tax Rate 15% 14%
CapEx, % of Revenue 1 – 3% 1 – 3%
Free Cash Flow Margin, % of Revenue 30 – 35% >35%
Cash to Shareholders, % of Free Cash Flow 80% 80%
Stronger Long-Term Business Model
28
Note: All measures exclude Special Items
Long-term target: $3.50 Free Cash Flow per share

29. Why Invest in Maxim?
14.6x
17.4x 18.0x
19.9x 21.0x
23.8x 24.6x
41.8x
A MXIM B C D E F G
29
1.03x
FACTOR
1.14x 1.37x 1.42x 2.40x
FCF Multiple at a Discount to our Peers
Note: Data as of June 30, 2017 First Call consensus mean estimates; Measures exclude Special Items
FCF Yield = FCF (CY2016E) / Market Capitalization; Competitors: ADI, CRUS, IDTI, MPWR, SLAB, SMTC, TXN
0.84x 1.21x

31. Empowering Design Innovation