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© 2026 Illumina, Inc. All rights reserved. Q2 2026 Earnings Presentation July 30, 2026
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© 2026 Illumina, Inc. All rights reserved. This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve, including the proteomics market; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our ability to adjust our operating expenses to align with our revenue expectations; (iv) our ability to successfully integrate SomaLogic, Inc. and certain other assets we acquired from Standard BioTools Inc. (the SomaLogic Business) into our existing operations and the SomaLogic Business’ technology and products into our portfolio; (v) our ability to successfully manage partner and customer relationships in the proteomics market; (vi) uncertainty regarding the impact of our inclusion on the “unreliable entities list” by regulatory authorities in China; (vii) uncertainty regarding tariffs imposed or threatened by the U.S. government and its trading partners, related court proceedings or administrative actions (including potential refund or relief programs), and other possible tariffs or trade protection measures and our efforts to mitigate the impact of such tariffs; (viii) our ability to manufacture robust instrumentation and consumables, including the SomaLogic Business’ products; (ix) the success of products and services competitive with our own; (x) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; (xi) the impact of recently launched or pre-announced products and services on existing products and services; (xii) our ability to modify our business strategies to accomplish our desired operational goals; (xiii) our ability to realize the anticipated benefits from prior or future actions to streamline and improve our R&D processes, reduce our operating expenses and maximize our revenue growth; (xiv) our ability to further develop and commercialize our instruments, consumables, and products; (xv) our ability to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xvi) the risk of additional litigation arising against us in connection with the GRAIL acquisition; (xvii) our ability to obtain approval by third-party payors to reimburse patients for our products; (xviii) our ability to obtain regulatory clearance for our products from government agencies; (xix) our ability to successfully partner with other companies and organizations to develop new products, expand markets, and grow our business; (xx) uncertainty, or adverse economic and business conditions, including as a result of slowing or uncertain economic growth or armed conflict; (xxi) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments; and (xxii) legislative, regulatory and economic developments, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward- looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current quarter. Cautionary Notes 2 Disclaimers GAAP reconciliation of non-GAAP measures can be found in the Appendix, our earnings release and in the supplementary data on our website. Year-over-year denotes a comparison against the same quarter of the prior fiscal year, while quarter-over-quarter, or sequential, denotes a comparison to the prior fiscal quarter. All references to China refer to our Greater China Region, which includes Taiwan and Hong Kong. Unless otherwise stated, all growth rates are presented on a year-over-year reported basis. Organic growth excludes the impact of currency and acquisitions, and rest-of-world organic growth also excludes Greater China region.
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© 2026 Illumina, Inc. All rights reserved. 3 Jacob Thaysen Chief Executive Officer
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© 2026 Illumina, Inc. All rights reserved. Illumina Q2’26 Results Summary 4 USCAN = U.S. and Canada. EMEALA = Europe, Middle East, Africa, Latin America. APAC = Asia Pacific. ROW = rest-of-world. See Appendix for reconciliations of GAAP and non-GAAP financial measures. Organic adjusts for foreign exchange and acquisitions; ROW organic also adjusts for Greater China region. All values and growth rates are approximate. Growth rates are YoY. FX impacts as of 06/28/2026. Revenue $1.16B +6.5% Organic | +9.5% Reported Non-GAAP Operating Margin 22.5% Non-GAAP Diluted EPS $1.31 Q2’26 NovaSeq X Placements Regional Revenue >95 Instruments EMEALA $368M +0% Organic | +4% Reported +9% Organic | +14% Reported APAC $82M (19%) Organic | (12%) Reported Greater China $56M USCAN $653M +13% Organic | +15% Reported $1.16B Illumina Revenue ROW Organic Growth +8.1% 32% 7%5% 56%
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© 2026 Illumina, Inc. All rights reserved. 5 Ankur Dhingra Chief Financial Officer
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© 2026 Illumina, Inc. All rights reserved. Illumina Q2’26 Revenue 6 ROW = rest-of-world. See Appendix for reconciliations of GAAP and non-GAAP financial measures. Organic adjusts for foreign exchange and acquisitions; ROW organic also adjusts for Greater China region. Growth rates are YoY. FX impacts as of 06/28/2026. Illumina Revenue Sequencing Consumables Revenue ($ in millions) +6% Organic | +9% Reported +8% ROW Organic $1,059 $1,159 Q2'25 Q2'26 +5% Organic | +6% Reported $690 $734 Q2'25 Q2'26 +4% Organic | +5% Reported $740 $775 Q2'25 Q2'26 Total ROW
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© 2026 Illumina, Inc. All rights reserved. Sequencing Revenue ROW ($ in millions) Q1'25 Q2'25 Q3'25 Q4'25 2025 Q1'26 Q2'26 Product Revenue Consumables $640 $690 $707 $713 $2,750 $687 $734 Instruments $103 $92 $104 $150 $449 $114 $122 Sequencing Consumables Revenue Growth Rates Total – ROW reported (0%) 2% 3% 11% 4% 7% 6% Clinical – ROW reported 8% 10% 12% 20% 12% 20% 15% Research & Applied – ROW reported (11%) (9%) (8%) (0%) (7%) (12%) (7%) Illumina Sequencing Revenue Detail 7 ROW = rest-of-world, excluding China. All growth rates shown are year-over-year.
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© 2026 Illumina, Inc. All rights reserved. Q2’26 High-Throughput Transition Updates 8 Gb = gigabases. HT = high-throughput. Total Research & Applied Clinical NovaSeq X Transition 27% 36% 40% 43% 44% 51% 55% 55% 59% Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 NovaSeq X % of HT Consumables Revenue 45% 59% 66% 68% 69% 78% 80% 82% 83% 51% 70% 80% 82% 82% 91% 90% 90% 92% 35% 43% 49% 53% 55% 64% 71% 76% 78% Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 NovaSeq X % of HT Gb Shipped Q2’26 Q2’26
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© 2026 Illumina, Inc. All rights reserved. Illumina Q2’26 Revenue (Cont’d) 9 ROW = rest-of-world. See Appendix for reconciliations of GAAP and non-GAAP financial measures. Organic adjusts for foreign exchange and acquisitions; ROW organic also adjusts for Greater China region. Growth rates are YoY. FX impacts as of 06/28/2026. Sequencing Instruments Revenue Sequencing Service & Other Revenue ($ in millions) +13% Organic | +14% Reported +14% ROW Organic $96 $125 Q2'25 Q2'26 $136 $154 Q2'25 Q2'26 +30% Organic | +31% Reported +31% ROW Organic
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© 2026 Illumina, Inc. All rights reserved. Illumina Q2’26 Non-GAAP Financials 10 Gross Margin Diluted EPSOperating Margin (120 bps) (130 bps) +10% 69.4% 68.2% Q2'25 Q2'26 $1.19 $1.31 Q2'25 Q2'26 23.8% 22.5% Q2'25 Q2'26 See Appendix for reconciliations of GAAP and non-GAAP financial measures.
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© 2026 Illumina, Inc. All rights reserved. Illumina Q2’26 Cash Flow & Balance Sheet Items 11 See Appendix for reconciliations of GAAP and non-GAAP financial measures. 1. Gross debt to LTM EBITDA as of 06/28/2026. Share Repurchase Program Illumina Shares ~0.94M ~$122M Total Cost $129.07 Avg. Price per Share Cash Flow Updates $201M Cash Flow from Operations $39M Capital Expenditures $162M Free Cash Flow Balance Sheet Updates ~$1.17B Cash, Cash Equivalents & Short-Term Investments ~$1.99B Total Debt ~1.6x Gross Leverage1
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© 2026 Illumina, Inc. All rights reserved. As of 07/30/2026. All growth rates reflect YoY trends. FY26 Guidance Q3'26 Guidance Non-GAAP Guidance Total Illumina Revenue $4.60B - $4.64B $1.14B - $1.16B YoY Growth Guidance ILMN Organic Growth, ROW1 > 5.0% ~ 4.5% ILMN Organic Growth1 > 4.0% ~ 4.5% Organic Sequencing Growth, ROW 1 Consumables Revenue +Mid-Single Digit Instruments Revenue +Low-Single Digit Operating Margin 23.4% - 23.6% ~ 24% EPS $5.30 - $5.40 $1.33 - $1.38 Illumina Guidance for FY26 12 See statement regarding use of non-GAAP financial measures. FX impacts as of 06/28/2026. 1. Organic adjusts for foreign exchange and acquisitions; ROW organic also adjusts for Greater China region.
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© 2026 Illumina, Inc. All rights reserved. Q&A 13 Ankur Dhingra Chief Financial Officer Jacob Thaysen Chief Executive Officer
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Statement regarding use of non-GAAP financial measures The company reports non-GAAP results for diluted earnings per share, gross margin, operating margin, and free cash flow, among others, in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company’s financial measures under GAAP include substantial charges such as amortization of acquired intangible assets, among others, that are listed in the reconciliations of GAAP and non-GAAP financial measures included in this press release. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP operating margin and diluted earnings per share are key components of the financial metrics utilized by the company’s board of directors to measure, in part, management’s performance and determine significant elements of management’s compensation. The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in this release. The company provides forward-looking guidance on a non-GAAP basis. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related costs, fair value adjustments to contingent consideration, gains and losses from strategic investments, asset impairments, restructuring activities, and the ultimate outcome of pending litigation, among others, without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results. Use of forward-looking statements This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve, including the proteomics market; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our ability to adjust our operating expenses to align with our revenue expectations; (iv) our ability to successfully integrate SomaLogic, Inc. and certain other assets we acquired from Standard BioTools Inc. (the SomaLogic Business) into our existing operations and the SomaLogic Business’ technology and products into our portfolio; (v) our ability to successfully manage partner and customer relationships in the proteomics market; (vi) uncertainty regarding the impact of our inclusion on the “unreliable entities list” by regulatory authorities in China; (vii) uncertainty regarding tariffs imposed or threatened by the U.S. government and its trading partners, related court proceedings or administrative actions (including potential refund or relief programs), and other possible tariffs or trade protection measures and our efforts to mitigate the impact of such tariffs; (viii) our ability to manufacture robust instrumentation and consumables, including the SomaLogic Business’ products; (ix) the success of products and services competitive with our own; (x) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; (xi) the impact of recently launched or pre-announced products and services on existing products and services; (xii) our ability to modify our business strategies to accomplish our desired operational goals; (xiii) our ability to realize the anticipated benefits from prior or future actions to streamline and improve our R&D processes, reduce our operating expenses and maximize our revenue growth; (xiv) our ability to further develop and commercialize our instruments, consumables, and products; (xv) our ability to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xvi) the risk of additional litigation arising against us in connection with the GRAIL acquisition; (xvii) our ability to obtain approval by third-party payors to reimburse patients for our products; (xviii) our ability to obtain regulatory clearance for our products from government agencies; (xix) our ability to successfully partner with other companies and organizations to develop new products, expand markets, and grow our business; (xx) uncertainty, or adverse economic and business conditions, including as a result of slowing or uncertain economic growth or armed conflict; (xxi) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments; and (xxii) legislative, regulatory and economic developments, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current quarter. # # #
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Illumina, Inc. Condensed Statements of Cash Flows (In millions) (unaudited) Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 Net cash provided by operating activities $ 201 $ 234 $ 490 $ 474 Net cash used in investing activities (121) (49) (488) (112) Net cash used in financing activities (129) (371) (380) (566) Effect of exchange rate changes on cash and cash equivalents — 7 — 11 Net decrease in cash and cash equivalents (49) (179) (378) (193) Cash and cash equivalents, beginning of period 1,089 1,113 1,418 1,127 Cash and cash equivalents, end of period $ 1,040 $ 934 $ 1,040 $ 934 Calculation of free cash flow: Net cash provided by operating activities $ 201 $ 234 $ 490 $ 474 Purchases of property and equipment (39) (30) (78) (62) Free cash flow (a) $ 162 $ 204 $ 412 $ 412 (a) Free cash flow, which is a non-GAAP financial measure, is calculated as net cash provided by operating activities reduced by purchases of property and equipment. Free cash flow is useful to management as it is one of the metrics used to evaluate our performance and to compare us with other companies in our industry. However, our calculation of free cash flow may not be comparable to similar measures used by other companies. 1
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Illumina, Inc. Results of Operations - Revenue (Dollars in millions) (unaudited) TABLE 1: RECONCILIATION OF REVENUE GROWTH: Three Months Ended Six Months Ended June 28, 2026 June 28, 2026 Revenue growth 9.5 % 7.2 % Impact of acquisitions (2.1) % (1.9) % Impact of currency exchange rates (0.9) % (1.4) % Organic revenue growth (non-GAAP) (a) 6.5 % 3.9 % Impact of China 1.6 % 1.9 % ROW organic revenue growth (non-GAAP) (a) 8.1 % 5.8 % (a) Organic revenue growth adjusts for the impact from acquisitions and currency movements, which is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges; Rest of World (ROW) organic revenue growth also adjusts for the impact from our China region. 2
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Illumina, Inc. Results of Operations - Revenue by Source (unaudited) TABLE 1: RECONCILIATION OF REVENUE GROWTH - REVENUE BY SOURCE: Three Months Ended Six Months Ended June 28, 2026 June 28, 2026 Sequencing consumables revenue growth 5 % 4 % Impact of currency exchange rates (1) % (1) % Organic revenue growth (non-GAAP) (a) 4 % 3 % ROW sequencing consumables revenue growth 6 % 7 % Impact of currency exchange rates (1) % (2) % ROW organic revenue growth (non-GAAP) (a) 5 % 5 % Sequencing instruments revenue growth 31 % 19 % Impact of currency exchange rates (1) % (1) % Organic revenue growth (non-GAAP) (a) 30 % 18 % Impact of China 1 % 2 % ROW organic revenue growth (non-GAAP) (a) 31 % 20 % Sequencing service and other revenue growth 14 % 10 % Impact of currency exchange rates (1) % (1) % Organic revenue growth (non-GAAP) (a) 13 % 9 % Impact of China 1 % 1 % ROW organic revenue growth (non-GAAP) (a) 14 % 10 % Microarray revenue growth 21 % 11 % Impact of acquisitions (25) % (22) % Impact of currency exchange rates (2) % (2) % Organic revenue growth (non-GAAP) (a) (6) % (13) % Impact of China 2 % 1 % ROW organic revenue growth (non-GAAP) (a) (4) % (12) % (a) Organic revenue growth adjusts for the impact from acquisitions and currency movements, which is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges; Rest of World (ROW) organic revenue growth also adjusts for the impact from our China region. 3
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Illumina, Inc. Results of Operations - Revenue by Region (unaudited) TABLE 1: RECONCILIATION OF REVENUE GROWTH - REVENUE BY REGION: Three Months Ended Six Months Ended June 28, 2026 June 28, 2026 USCAN revenue growth 15 % 10 % Impact of acquisitions (2) % (1) % Impact of currency exchange rates — % — % Organic revenue growth (non-GAAP) (a) 13 % 9 % EMEALA revenue growth 4 % 6 % Impact of acquisitions (1) % (1) % Impact of currency exchange rates (3) % (4) % Organic revenue growth (non-GAAP) (a) — % 1 % APAC revenue growth 14 % 14 % Impact of acquisitions (8) % (9) % Impact of currency exchange rates 3 % 1 % Organic revenue growth (non-GAAP) (a) 9 % 6 % Greater China revenue growth (b) (12) % (20) % Impact of acquisitions (6) % (3) % Impact of currency exchange rates (1) % (1) % Organic revenue growth (non-GAAP) (a)(b) (19) % (24) % United States and Canada (USCAN), Europe, Middle East, Africa and Latin America (EMEALA), Asia-Pacific (APAC) (a) Organic revenue growth adjusts for the impact from acquisitions and currency movements, which is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges. (b) Region includes revenue from China, Taiwan, and Hong Kong. 4
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Illumina, Inc. Results of Operations - Non-GAAP (Dollars in millions, except per share amounts) (unaudited) TABLE 1: RECONCILIATION OF GAAP AND NON-GAAP DILUTED EARNINGS PER SHARE: Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 GAAP diluted earnings per share $ 1.35 $ 1.49 $ 2.22 $ 2.31 Acquisition-related costs (d) 0.07 0.03 0.23 0.11 Transformational initiatives (e) 0.03 0.06 0.06 0.26 Strategic investment (gain) loss, net (f) (0.15) (0.65) 0.08 (0.85) Intangible impairment — 0.15 — 0.15 Other (g) — — — 0.03 Provision for income taxes (h) 0.01 0.11 (0.13) 0.15 Non-GAAP diluted earnings per share (b) $ 1.31 $ 1.19 $ 2.46 $ 2.16 TABLE 2: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE: Three Months Ended Six Months Ended (Dollars in millions) June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 GAAP gross profit (c) $ 770 66.4 % $ 695 65.6 % $ 1,491 66.2 % $ 1,378 65.6 % Acquisition-related costs (d) 20 1.8 % 16 1.5 % 43 2.0 % 33 1.6 % Transformational initiatives (e) — — % 1 0.1 % — — % 3 0.1 % Intangible impairment — — % 23 2.2 % — — % 23 1.1 % Non-GAAP gross profit (b) $ 790 68.2 % $ 735 69.4 % $ 1,534 68.2 % $ 1,437 68.4 % GAAP operating profit $ 245 21.1 % $ 214 20.2 % $ 454 20.2 % $ 378 18.0 % Acquisition-related costs (d) 11 1.0 % 5 0.5 % 35 1.6 % 17 0.8 % Transformational initiatives (e) 4 0.4 % 10 0.9 % 10 0.4 % 41 2.0 % Intangible impairment — — % 23 2.2 % — — % 23 1.1 % Other (g) — — % — — % — — % 5 0.2 % Non-GAAP operating profit (b) $ 260 22.5 % $ 252 23.8 % $ 499 22.2 % $ 464 22.1 % 5
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Illumina, Inc. Results of Operations - Non-GAAP (continued) (Dollars in millions) (unaudited) TABLE 3: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE: Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 GAAP R&D expense $ 252 21.7 % $ 247 23.3 % $ 492 21.8 % $ 499 23.8 % Acquisition-related costs (d) — — % — — % (2) — % (1) — % Transformational initiatives (e) — — % (4) (0.4) % — — % (14) (0.7) % Non-GAAP R&D expense $ 252 21.7 % $ 243 22.9 % $ 490 21.8 % $ 484 23.1 % GAAP SG&A expense $ 273 23.6 % $ 234 22.1 % $ 545 24.2 % $ 501 23.8 % Acquisition-related costs (d) 9 0.7 % 12 1.1 % 10 0.4 % 17 0.8 % Transformational initiatives (e) (4) (0.3) % (5) (0.5) % (10) (0.4) % (24) (1.1) % Other (g) — — % — — % — — % (5) (0.2) % Non-GAAP SG&A expense $ 278 24.0 % $ 241 22.7 % $ 545 24.2 % $ 489 23.3 % GAAP other income (expense), net $ 15 1.3 % $ 92 8.7 % $ (37) (1.6) %$ 110 5.2 % Strategic investment (gain) loss, net (f) (23) (2.0) % (102) (9.7) % 13 0.5 % (135) (6.4) % Non-GAAP other expense, net $ (8) (0.7) %$ (10) (1.0) %$ (24) (1.1) %$ (25) (1.2) % 6
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(a) Organic revenue growth adjusts for the impact from acquisitions and currency movements, which is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges; Rest of World (ROW) organic revenue growth also adjusts for the impact from our China region. (b) Non-GAAP gross profit, included within non-GAAP operating profit, is a key measure of the effectiveness and efficiency of manufacturing processes, product mix and the average selling prices of our products and services. Non-GAAP diluted earnings per share and non-GAAP operating profit exclude the effects of the pro forma adjustments as detailed above. Non-GAAP operating margin and diluted earnings per share are key components of the financial metrics utilized by the company’s board of directors to measure, in part, management’s performance and determine significant elements of management’s compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing past and future operating performance. (c) Reconciling amounts are recorded in cost of revenue. (d) Amounts for Q2 2026 and YTD 2026 consist primarily of: • Amortization of intangible assets of $18 million and $35 million (cost of revenue) • Amortization of inventory fair value step-up for SomaLogic of $2 million and $8 million (cost of revenue) • Expenses for the SomaLogic and GRAIL acquisitions of $7 million and $22 million (operating expense) • Net gains on contingent consideration liabilities of ($16) million and ($32) million (operating expense) Amounts for Q2 2025 and YTD 2025 consist primarily of: • Amortization of intangible assets of $16 million and $33 million (cost of revenue) • Expenses for the SomaLogic and GRAIL acquisitions of $9 million and $15 million (operating expense) • Net gains on contingent consideration liabilities of ($21) million and ($32) million (operating expense) (e) Amounts for Q2 2026 and YTD 2026 consist primarily of implementation costs to upgrade our ERP system. Amounts for Q2 2025 and YTD 2025 consist primarily of employee severance costs from restructuring activities. (f) Amounts consist of realized and unrealized gains and losses and impairments on our investments. (g) Amount consists of $3 million for costs related to board membership changes and $2 million for legal accrual. (h) Amounts represent the aggregate of the difference between book and tax accounting related to stock-based compensation cost and the tax impact related to non-GAAP adjustments. 7
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Illumina, Inc. Results of Operations - Non-GAAP (continued) (Dollars in millions) (unaudited) TABLE 4: RECONCILIATION OF GAAP AND NON-GAAP TAX PROVISION: Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 GAAP tax provision $ 53 20.5 % $ 71 23.4 % $ 77 18.4 % $ 122 25.1 % Income tax provision (b) 2 (1) — (7) Non-GAAP tax expense (c) (3) (16) 20 (18) Non-GAAP tax provision (a) $ 52 20.5 % $ 54 22.2 % $ 97 20.5 % $ 97 22.1 % (a) Non-GAAP tax provision excludes the effects of the pro forma adjustments detailed above, which have been excluded to assist investors in analyzing and assessing past and future operating performance. (b) Amounts represent the difference between book and tax accounting related to stock-based compensation cost. (c) Non-GAAP tax expense reflects tax impact of the non-GAAP adjustments listed in Table 2. 8