Forward Looking Statement

This presentation contains forward-looking statements which are statements that refer to expectations and plans for the future and include, without limitation, statements regarding Lenovos future results of operations, financial condition or business prospects as well as other statements based on projections, estimates and assumptions. In some cases, these statements can be identified by terms such as "expect," "intend," "plan," "believe," "estimate," "may," "will," "should" and comparable words (including the negative of such words). These forward-looking statements, reflect the current expectations and plans of the directors and management of Lenovo, which may not materialize or may change. Many risks, uncertainties and other factors, some of which are unpredictable and beyond Lenovos control, could affect the matters discussed in these forward-looking statements. These factors include, without limitation, economic and business conditions globally and in the countries where we operate, Lenovos ability to predict and respond quickly to market developments, consumer demand, pricing trends and competition; changes in applicable laws and regulations (including applicable tax and tariff rates). Any variance from the expectations or plans on which these forward-looking statements are based could cause Lenovos actual results or actions to differ materially from those expressed or implied in these statements. These forward-looking statements are not guarantees of future performance and you are cautioned not to place undue reliance on these statements. Lenovo undertakes no obligation to update any forward-looking statements in this presentation, whether as a result of new information or any subsequent change, development or event. All forward-looking statements in this presentation are qualified by reference to this paragraph.

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Strong Performance Leads to Record Results

PC sales grew 16 points faster than market Record market share of 15.9% Record profitability; PTI Margin up 0.3 YTY, Earnings record $205 M USD
WW PC Market Share (%)
15.8 17

Continued Growth in Rev, PTI & Net Income US$ M

10,000

Revenue

17

+12% 8,372
PTI
8,000

9,359

350 300

15.9
12

+28% 192 5,808 121 153

246
250 200

13.6
6,000

205
150 100

7
4,000

100
Earnings

2
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10/11 11/12 11/12 11/12 11/12 12/13 12/13 12/13 HP Lenovo Dell Acer ASUS
Source: IDC
4 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

50

2,000

+33%
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 10/11 10/11 11/12 11/12 11/12 11/12 12/13 12/13 12/13 Source: Internal Data

Balanced Performance Across All Segments, Geos

Outgrew market in all segments, Geos

EMEA:
Outgrew market by 36 points Record market share of 11.1% Now #2, strong consumer growth
Lenovo PC Share in 4 GEOs(%)
+1.4 pts
36.7 35.2

+3.2 pts
11.1

APLA:
NA:
Outgrew market by 18 points Record share of 9% Strong profitability Breakthrough in premium area in consumer
3Q 11/12 3Q 12/13

EMEA

PRC

Outgrew market by 13 points Improved profitability YTY

7.9

3Q 11/12

3Q 12/13

+1.4 pts +1.5 pts

9.0 7.5

APLA

11.3 9.8

China:
Protected profit pool, grew profitability Record market share of 36.7%
5 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

NA
3Q 11/12
Source: IDC and Internal Data

3Q 12/13

3Q 11/12

3Q 12/13

PC+ Business Achieved Hyper Growth

China smartphone volume doubled YTY; overall smartphone profitable for first time WW Tablet volume increased by 77% YTY, became profitable MIDH now contributes 11% of Lenovos overall revenue #3 worldwide in Smart Connected DevicesPCs+Tablets+Smartphones
Smart Connected Device Vendors Market Share (%)
%
YTY Growth Smart connected devices include PCs, Tablets, and Smartphones

Increasing MIDH Rev mix (US$B)

+12%
10 8 6 4 2 0 Q3 11/12 Q3 12/13

$8.4
7% +77%

$9.4
11%

25

+97.5%

20 +38.3% 15

89%

+7%

85%

10

5.7
5

6.8

7.0

+60.0%
-20.5%

+25.4% 0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

PC
Source: Internal Data
6

MIDH

Other
Source: IDC

FY 10/11

FY 11/12

FY 12/13 Source: IDC

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Clear Strategy Key to Success

Protect
China
1 Extend PC share lead 2 Increase profitability 3 Grow commercial with Server and workstation 1 Deliver steady profits in all regions 2 Drive share gain across the board

Increasing Revenue Mix From Attack(US$B)*

35
30 25 $21.6 42% $29.5 Attack

Mature Rel

Protect

20

Attack
MIDH REM
Mature TM
7

$17.0 15 10 33%

35%

1 Grow our MIDH presence globally -Pad / Phone / Smart TV in China -Global Pad offering 2 Drive convergence (cloud devices, killer apps, best user experience)

5
0

67%

65%

58%

$8.0 45% 55%

$8.7

$9.4 50% 50%

46%
54%

1 Get 10%+ share in key countries 2 Attack SMB/consumer & move to profitability
1 Grow share through Home/SMB and retail channels 2 Expand attach business to drive profitability

FY 09/10

FY 10/11

FY 11/12

Q1 FY12/13 Q2 FY12/13 Q3 FY12/13

*FY 08/09 and FY 09/10 each include $0.4B USD in Lenovo Mobile sales, which are included for comparison purposes.

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

New Structure to Fuel Growth

Lenovo Org Structure
CUSTOMER-DRIVEN FRONT END

WHATS CHANGED? NORTH AMERICA

No change to Geo-centric front end

CHINA

EMEA

APLA

Focus remains on serving customer needs

Created 2 new integrated business groups:

INTEGRATED BACK END

THINK
BUSINESS GROUP
Premium PCs + Tablets + Enterprise

LENOVO
BUSINESS GROUP
Mainstream/Entry PCs + Tablets + Smartphones + TV

Think: focused on Premium products Lenovo: focused on Mainstream & Entry

INTEGRATED OPERATIONS
8 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Both groups integrate product development, time to market, marketing campaign, and day-to-day operations

Create Differentiation through Innovation

Won record 50 major awards at CES Created new categories to redefine PC and transforms the industry Innovation is in our DNA, driving growth in PC and PC+ products

ThinkVision Mobile Monitor ThinkPad Helix

9 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Lenovo K900 IdeaPad Yoga 11s IdeaCentre Horizon

Looking Ahead

10

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

11

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Financial Summary
US$ Million Revenue Gross Profit Operating Expenses Operating Profit Other Non-Operating Income / (Expenses) Pre-tax Income Taxation Profit for the Period Non-controlling Interests Profit attributable to Equity Holders EPS (US cents) - Basic - Diluted Q3 FY2012/13 Q3 FY2011/12 9,359 1,101 (858) 243 3 246 (46) 200 5 205 8,372 954 (761) 193 (1) 192 (38) 154 (1) 153 Y/Y% 12% 15% 13% 26% NA 28% 22% 30% NA 34% Q/Q% 8% 5% 10% 18% NA 21% 13% 23% NA 26% YTD FY2012/13 26,041 3,110 (2,479) 631 4 635 (128) 507 1 508 Y/Y% 18% 18% 13% 31% NA 32% 76% 24% NA 25%

1.99 1.96

1.50 1.46

0.49 0.50

0.41 0.41

4.94 4.85

2.41 2.39

Gross margin E/R ratio Operating margin PTI margin Net margin attributable to equity holders
12 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Q3 FY2012/13 Q3 FY2011/12 Q2 FY2012/13 11.8% 11.4% 12.1% 9.2% 9.1% 9.7% 2.6% 2.3% 2.4% 2.6% 2.3% 2.4% 2.2% 1.8% 1.9%

Condensed Balance Sheet

US$ Million As at Dec 31, 2012 4,324 401 3,177 746 13,692 4,480 7,253 1,802 157 13,343 22 12,755 566 349 2,071 2,602 As at Sep 30, 2012 4,154 399 3,086 669 12,558 3,875 7,033 1,540 110 12,077 24 11,507 547 481 2,241 2,394

Non-current assets Property, plant and equipment Intangible assets Others Current assets Bank deposits and cash Trade, notes and other receivables Inventories Others Current liabilities Short-term bank loans Trade, notes and other payables Others Net current assets Non-current liabilities Total equity

13

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Cash and Working Capital

US$ Million Q3 FY2012/13 Q3 FY2011/12 Q2 FY2012/13

Bank deposits and cash Total Bank Borrowings Net Cash Reserves

4,480 321 4,159

4,122 271 3,851

3,875 324 3,551

Days Inventory Days Receivable Days Payable Cash Conversion Cycle

14 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

20 36 61 -5 days

17 34 68 -17 days

19 33 61 -9 days

Q3 FY13: Performance By Geography

China
Total revenue of China up 17% YTY driven by 83% YTY revenue growth of MIDH PC volume at record high share 36.7%, benefited from high exposure in emerging cities & urbanization China PC operating margin up 0.3pt YTY to 6.3% MIDH profitability continued to improve

EMEA
Became #2; Record market share at 11.1% PC volume up 26% YTY, 36%-market premium #1 in Germany & Russia EMEA consumer profitability continued to improve QTQ Operating margin maintained at 2.0%

APLA
PC volume up 4% YTY, 13%-market premium Operations turned profitable against loss last year Closed the deal with CCE to help speed up the growth in Brazil
Sales US$ Million Q3 FY13 4,068 3,173 1,660 2,308 1,323 Y/Y 584 179 (30) 334 99 Q/Q 246 27 (165) 515 91

NA
Record market share in NA & US PC volume up 11% YTY, 18%-market premium Operating margin down 0.5pt YTY to 2.6% due to higher mix of consumer sales during Christmas
Segment Operating Profit/ (Loss) US$ Million Q3 FY13 193 200 6 45 34 Q3 FY12^ 166 181 (4) 40 38 Q2 FY13 163 185 15 36 45 Q3 FY13 4.7% 6.3% 0.3% 2.0% 2.6% Segment Operating Profit Margin Q3 FY12^ 4.8% 6.0% -0.2% 2.0% 3.1% Q2 FY13 4.3% 5.9% 0.8% 2.0% 3.6%

Including MIDH and non-PC revenue & results

China China - PC # APLA EMEA North America

# Financials on China PC extracted from management report are not presented as a separate reportable segment in external report and are shown for reference only ^ Reclassified after the adoption of new Geo structure and shared expenses allocation
15 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Q3 FY13: Performance By Product

Revenue by Product

MIDH

Notebook
Shipments up 9% YTY, 18% market premium; Sales up 8% YTY Market share at 15.8%, up 2.6pts YTY

Others*
7.5% (6.6%)

10.7% (6.8%)

Desktop
Desktop
30.1% (33.3%)

Shipments up 6% YTY, 13% market premium; Sales up 1% YTY Record high market share at 16.1%, up 1.9pts YTY

MIDH
Notebook
51.7% (53.3%)

MIDH Sales up 77% YTY Strong smartphone volume growth; PRC smartphone grew 2x YTY WW tablet volume up 77% YTY

* Note: miscellaneous businesses including servers, services and software and Medion's non-PC business.
16 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Acquisition/Partnership Integrations Are On Track And Achieving Aspirations

Close date

Acquisition

Description

Integration Progress
Close Prelim Integration Completed Primary Integration Objectives Completed

Achievements

Jun 2011

JV with NEC PC in Japan to become # 1 PC player in Japan

Joint entity is # 1 PC player in Japan with >27% share1 including 3% market share synergy Consumer PC share steadily growing reaching 7% since acquisition; Lenovo is now #2 PC player in EMEA Mass production launched in December, 2012 for consumer & commercial PC Completed initial integration into PC+ portfolio

Aug 2011

Acquisition of Consumer PC player in WE to achieve market leadership JV with Compal on PC Vertical Integration to optimize manufacturing and drive innovation Acquisition of cloud computing provider to enhance and expand cloud computing solutions JV & strategic partnership that enhances Lenovos position in industry standard servers and networked storage solutions Acquisition of consumer PC+ player in Brazil with aspiration to achieve market leadership
Market Share Source IDC. (1) Note: 2012 Q3 Market Share

Apr 2012

Dec 2012

Dec 2012

Integrating into Lenovo structure to grow server & storage business while driving revenue & cost synergies Integrating business functions to drive revenue and cost synergies

Jan 2013
17

2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Appendix
Consolidated Income Statement Condensed Consolidated Cash Flow Statement

Consolidated Income Statement

US$ Million Revenue Cost of sales Gross profit Other income, net Selling and distribution expenses Administrative expenses Research and development expenses Other operating income/(expense) - net Operating profit Finance income Finance costs Share of losses of associated companies Profit before taxation Taxation Profit for the period Profit attributable to: Equity holders of the Company Non-controlling interests Dividend Earnings per share (US cents) - Basic - Diluted
19 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Q3 FY2012/13 9,359 (8,258) 1,101 20 (536) (227) (162) 47 243 11 (8) 246 (46) 200 205 (5) 1.99 1.96

YTD FY2012/13 26,041 (22,931) 3,110 20 (1,471) (619) (450) 41 631 32 (27) (1) 635 (128) 507 508 (1) 60 4.94 4.85

Q3 FY2011/12 8,372 (7,418) 954 1 (458) (170) (118) (16) 193 13 (14) 0 192 (38) 154 153 1 1.50 1.46

YTD FY2011/12 22,078 (19,437) 2,641 1 (1,266) (541) (314) (38) 483 32 (33) (1) 481 (73) 408 406 2 50 4.03 3.94

Condensed Consolidated Cash Flow Statement

US$ Million Net cash generated from operating activities Net cash used in investing activities Net cash (used in)/generated from financing activities Increase/(Decrease) in cash and cash equivalents Effect of foreign exchange rate changes Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period
20 2012 LENOVO CONFIDENTIAL. ALL RIGHTS RESERVED.

Q3 FY2012/13 889 (207) (82) 600 6 3,453 4,059

Q3 FY2011/12 41 (102) (36) (97) 1 4,169 4,073

Q2 FY2012/13 143 (328) 58 (127) 18 3,563 3,454