Investor Relations

• Estimates non-GAAP diluted net EPS for fiscal 2016 of $1.85 to $1.95 and GAAP diluted net EPS for fiscal 2016 of $0.75 to $0.85
• Estimates free cash flow of $2.0 to $2.2 billion in fiscal 2016 or normalized free cash flow of $3.7 billion before separation and restructuring cash payments
• Expects to return at least 50% of free cash flow in fiscal 2016 to shareholders through dividends and share repurchases

SAN JOSE, Calif., Sept 15, 2015 — Today at HP’s 2015 Securities Analysts Meeting, the future Hewlett Packard Enterprise Company leadership team provided a strategy update and financial outlook for the new company.

• Transforming to a hybrid infrastructure that gives greater flexibility and agility, while ensuring that there is no disruption to legacy systems.
• Protecting the digital enterprise from external risk.
• Empowering the organization to use data to give the insights needed to anticipate risk and opportunity.
• Enabling workplace productivity by delivering the right tools that are optimized for business critical tasks at the right economics.

The new Hewlett Packard Enterprise will have more than $50 billion in annual revenue and will be focused on delivering unrivaled integrated technology solutions to a market that has the potential to exceed $1 trillion over the next three years. Hewlett Packard Enterprise will trade under the ticker symbol “HPE”.

“Hewlett Packard Enterprise will be smaller and more focused than HP is today, and we will have a broad and deep portfolio of businesses that will help enterprises transition to the new style of business,” said Whitman. “As a separate company, we are better positioned than ever to meet the evolving needs of our customers around the world.”

2016 outlook
Tim Stonesifer, who will become Chief Financial Officer of Hewlett Packard Enterprise, provided a financial outlook for Hewlett Packard Enterprise in fiscal 2016. As a standalone company, Hewlett Packard Enterprise expects fiscal 2016 revenue to grow year-over-year in constant currency driven by continued strength in servers, storage and networking, and stabilization in services and software. The company anticipates currency impact to be a three point headwind to revenue growth in fiscal 2016.

Hewlett Packard Enterprise anticipates operating profit dollars to grow year-over-year in fiscal 2016, due to the continued focus on supply chain productivity, disciplined approach to discretionary spending and efforts to reshape the workforce. The new company estimates fiscal 2016 non-GAAP diluted net EPS to be in the range of $1.85 to $1.95, and estimated GAAP diluted net EPS to be in the range of $0.75 to $0.85.

Fiscal 2016 non-GAAP diluted net EPS estimates exclude after-tax costs of $1.10 primarily related to restructuring charges, separation costs and amortization of intangible assets.

Information about HP’s use of non-GAAP financial information is provided under “Use of non-GAAP financial information” below.

Cash Flow
Hewlett Packard Enterprise expects to generate approximately $5.0-$5.2 billion in cash flow from operations and $2.0-$2.2 billion in free cash flow in fiscal 2016. This includes separation cash payments of $0.4 billion and restructuring cash payments of $1.2 billion. Excluding these separation and restructuring payments, HP expects Hewlett Packard Enterprise’s normalized free cash flow to be approximately $3.7 billion in fiscal 2016.

Capital Allocation Approach
Stonesifer stressed that Hewlett Packard Enterprise will maintain a disciplined capital allocation framework to drive shareholder value, and expects at least 50% of free cash flow in fiscal 2016 to be returned to shareholders through approximately $400 million in dividends and the remaining in share repurchases.

Restructuring Related Activities
Stonesifer presented a clear plan to deliver $2.7 billion in ongoing annual cost reductions both associated with the separation and specific to the Enterprise Services (“ES”) business.

These new activities will enable Hewlett Packard Enterprise to achieve $0.7 billion of ongoing cost savings associated with the separation, including adjustments to real estate strategy and other reorganizations across the portfolio.

In addition, it will enable ES to achieve $2.0 billion of gross annualized cost reductions, helping ES achieve a long-term, sustainable 7-9% operating profit margin.

To achieve these savings, Hewlett Packard Enterprise expects 25,000 to 30,000 people to leave the company, primarily associated with the ES transformation.

This will result in a GAAP-only charge of approximately $2.7 billion, beginning in the fourth quarter fiscal 2015. The cash impact will be approximately $2.6 billion over the next three years, beginning in fiscal 2016.

“These restructuring activities will enable a more competitive, sustainable cost structure for the new Hewlett Packard Enterprise,” said Whitman. “We’ve done a significant amount of work over the past few years to take costs out and simplify processes and these final actions will eliminate the need for any future corporate restructuring.”

Cloud Strategy Update

Whitman provided an overview of Hewlett Packard Enterprise’s cloud strategy, and how the company is uniquely positioned to help customers migrate more of their applications and services to a hybrid cloud environment.

HPE Helion ensures that customers’ applications are deployed to the right IT environment - based on business requirements like security levels, service availability and regulatory compliance – making it easier to build, manage and consume workloads in a hybrid IT environment.

Hewlett Packard Enterprise’s hybrid infrastructure strategy is consistent with market data that shows that a combination of traditional IT and private clouds will dominate the market for the foreseeable future. Nearly 90% of IT spend over the next three years will be in traditional IT and private cloud.

The company expects cloud revenue in fiscal 2015 to be approximately $3 billion, growing over 20% annually for the next several years. This estimate includes revenue from our enterprise group, software and enterprise services segments which support customers’ cloud build and consume.

Business Updates
Over the course of the day, the future Hewlett Packard Enterprise management team provided updates on business segments, including:

Enterprise Services

• Mike Nefkens, Executive Vice President and General Manager of Enterprise Services (“ES”), gave an overview of the progress ES has made over the past three years and the opportunity ahead. ES, which will be critical to Hewlett Packard Enterprise’s solution-based approach, is delivering accelerated profit growth and revenue stabilization in constant currency
• The cost reduction program, including the $2 billion restructuring program, is driving operating profit improvement and will result in a long-term, sustainable, market competitive cost structure with a 7-9% operating margin by fiscal 2018.
• Given the importance of Enterprise Services to the overall turnaround strategy, HP provided an outlook for ES for fiscal 2016. Revenue is expected to be flat to down 2% year-over-year in constant currency, however, with continued focus on cost management and operational improvements, operating margin is expected to further improve to be in the range of 6-7% for fiscal 2016.
• Approximately 37% of Hewlett Packard Enterprise’s revenue will come from ES.

Software

• Robert Youngjohns, Executive Vice President and General Manager of Software, discussed the performance of the business and the essential role of Software in the go-forward strategy of Hewlett Packard Enterprise.
• HPE Software is margin accretive with good cash flow, and serves as an intellectual property anchor in the new style of business.
• Youngjohns discussed the growth products and areas of investment of Software, and outlined a clear strategy to position Software for long-term growth, including continuing to focus the portfolio around key growth areas.
• Approximately 7% of Hewlett Packard Enterprise’s revenue will come from Software.

Enterprise Group

• Antonio Neri, Executive Vice President and General Manager of Enterprise Group (“EG”), gave an overview of the strategy, performance and key areas of the portfolio that are driving the future of EG.
• EG financial performance has been strong in fiscal 2015, driven by cost reductions, innovative product introductions, a new leadership team and a stronger go-to-market strategy.
• Hewlett Packard Enterprise anticipates the overall market for EG to grow at a 3% CAGR, and certain markets such as converged infrastructure, Cloud Hardware and Network Functions Virtualization, to grow at an even faster pace.
• Approximately 50% of Hewlett Packard Enterprise’s revenue will come from EG, spread across servers, storage, networking, and technology services.

Webcast details
A webcast of today’s event, along with management presentations and other materials, is available on the Investor Relations website. This press release contains only a summary of some of the information being presented at today’s event and should be read in conjunction with the management presentations and other materials made available on that website.

Use of non-GAAP financial information
HP has included non-GAAP financial measures in this press release. Definitions of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the slides presented at the 2015 Securities Analyst Meeting, which will be available for a period of one year thereafter at www.hp.com/investor/SAM2015.

HP’s management uses revenue on a constant currency basis, non-GAAP operating profit, non-GAAP operating expense, non-GAAP operating income and earnings, net debt, net cash, operating company net debt and operating company net cash, non-GAAP net earnings, non-GAAP diluted earnings per share, and HP’s non-GAAP tax rate to evaluate and forecast HP’s performance before gains, losses or other charges that are considered by HP’s management to be outside of HP’s core business segment operating results. HP also provides forecasts of non-GAAP diluted net earnings per share. Free cash flow and normalized free cash flow are liquidity measure that provides useful information to management about the amount of cash available for investment in HP’s businesses, funding strategic acquisitions, repurchasing stock and other purposes.

These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of HP’s results as reported under GAAP. Items such as impairment of goodwill and intangible assets and amortization of intangible assets, though not directly affecting HP’s cash position, represent the loss in value of intangible assets over time. The expense associated with this loss in value is not included in non-GAAP operating profit, non-GAAP net earnings, non-GAAP diluted earnings per share and HP’s non-GAAP tax rate and therefore does not reflect the full economic effect of the loss in value of those intangible assets. In addition, items such as separation and restructuring charges that are excluded from non-GAAP operating expense, non-GAAP operating profit, non-GAAP net earnings, non-GAAP diluted earnings per share and HP’s non-GAAP tax rate can have a material impact on cash flows and earnings per share. Free cash flow and normalized free cash flow do not represent the total increase or decrease in the cash balance for the period. The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies.

We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We also provide robust and detailed reconciliations of each non-GAAP financial measure to the most directly comparable GAAP measure, and we encourage investors to review carefully those reconciliations.

We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency to the information used by HP’s management in its financial and operational decision-making and allows investors to see HP’s results “through the eyes” of management. We further believe that providing this information better enables investors to understand HP’s operating performance and to evaluate the efficacy of the methodology and information used by management to evaluate and measure such performance.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Hewlett-Packard Company (“HP”) and Hewlett Packard Enterprise Company (“HPE”) may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of revenue, margins, expenses, effective tax rates, net earnings, net earnings per share, cash flows, benefit plan funding, deferred tax assets, share repurchases, currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring charges; any statements of the plans, strategies and objectives of management for future operations, including the previously announced separation transaction and the future performances of the post-separation companies if the separation is completed, as well as the execution of restructuring plans and any resulting cost savings or revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP or HPE and their financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements or assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the need to address the many challenges facing HP's or HPE’s businesses; the competitive pressures faced by HP's or HPE’s businesses; risks associated with executing HP's or HPE’s strategy, including the planned separation transaction; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers and the distribution of HP's or HPE’s products and the delivery of HP's or HPE’s services effectively; the protection of HP's or HPE’s intellectual property assets, including intellectual property licensed from third parties; risks associated with HP's or HPE’s international operations; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP or HPE and their suppliers, customers and partners; the hiring and retention of key employees; integration and other risks associated with business combination and investment transactions; the execution, timing and results of the separation transaction or restructuring plans, including estimates and assumptions related to the cost (including any possible disruption of HP's or HPE’s business) and the anticipated benefits of implementing the separation transaction and restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP's Annual Report on Form 10-K for the fiscal year ended October 31, 2014, HP's other filings with the Securities and Exchange Commission, including HP's Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2015 and the “Risk Factors” section of the preliminary information statement included in HPE’s Registration Statement on Form 10 as amended August 10, 2015 and September 4, 2015. HP assumes no obligation to update these forward-looking statements.

• Separation will occur by means of a distribution to HP stockholders of 100% of the outstanding shares of Hewlett Packard Enterprise
• Each HP stockholder will receive one share of HPE common stock for every one share of HP common stock held
• Hewlett Packard Enterprise shares to begin trading on the NYSE November 2, 2015

PALO ALTO, Calif. October 1, 2015 — The Board of Directors of Hewlett-Packard Company (“HP”) yesterday approved the previously announced separation of HP into two independent, industry-leading companies: Hewlett Packard Enterprise Company and HP Inc. The separation is expected to be completed on November 1, 2015.

Hewlett Packard Enterprise Company (“Hewlett Packard Enterprise”), will provide the cutting-edge technology solutions enterprises need to optimize their traditional IT while helping them build a secure, cloud-enabled, mobile-ready future. Specifically, this company will include HP’s best-in-class portfolio across its Enterprise Group, Enterprise Services, Software and Financial Services businesses.

HP Inc. will own and operate HP’s market leading printing and personal systems businesses. HP Inc. will have an impressive portfolio and a strong innovation pipeline across areas such as multi-function printing, Ink in the Office, graphics, commercial mobility, and services.

“This separation will enable us to accelerate the turnaround we began four years ago,” said Meg Whitman, Chairman, President and Chief Executive Officer, HP. “As two independent, industry-leading companies, Hewlett Packard Enterprise and HP Inc. can drive more focused business strategies, innovation roadmaps, and go-to-market models. The separation will also present better choices for investors by creating two distinct and attractive investment profiles.”

The separation will occur by means of a pro rata distribution to HP stockholders of 100% of the outstanding shares of Hewlett Packard Enterprise. The distribution is expected to occur on November 1, 2015. In connection with the separation, HP will be renamed HP Inc. Consequently, the separation will provide HP stockholders with ownership interests in both HP Inc. and Hewlett Packard Enterprise.

Each HP stockholder will receive one share of Hewlett Packard Enterprise common stock for every one share of HP common stock held as of October 21, 2015, the record date for the distribution. No fractional shares of Hewlett Packard Enterprise will be issued. Stockholders will receive cash in lieu of fractional shares.

Beginning on or about October 19, 2015 and continuing up to the distribution date, it is expected that “when issued” trading will begin for Hewlett Packard Enterprise shares on the New York Stock Exchange (“NYSE”) under the ticker symbol “HPE WI”. Hewlett Packard Enterprise shares are expected to begin “regular way” trading on Monday, November 2, 2015 on the NYSE under the ticker symbol “HPE”. HP (to be renamed HP Inc.) will continue to trade on the NYSE under the ticker symbol “HPQ”.

Also beginning on or about October 19, 2015 and continuing up to the distribution date, it is expected that there will be two markets in HP common stock. HP shares that trade in the “regular-way” market under the symbol “HPQ” will trade with an entitlement to shares of Hewlett Packard Enterprise common stock to be distributed pursuant to the distribution; shares that trade in the “ex-distribution” market under the symbol “HPQ WI” will trade without an entitlement to shares of Hewlett Packard Enterprise common stock.

HP stockholders are urged to consult their financial and tax advisors regarding the particular consequences of the distribution in their situation, including, without limitation, the specific implications of selling Hewlett Packard Enterprise shares and the applicability and effect of any U.S. federal, state, local and foreign tax laws.

No action is required by HP stockholders in order to receive Hewlett Packard Enterprise shares in the distribution. HP expects that the information statement regarding the separation will be made available to all HP stockholders entitled to receive Hewlett Packard Enterprise shares in October. The information statement is an exhibit to the Registration Statement on Form 10 filed by Hewlett Packard Enterprise with the U.S. Securities and Exchange Commission (“SEC”), and describes Hewlett Packard Enterprise and its business, including details regarding the separation and distribution and certain risks of owning Hewlett Packard Enterprise shares.

The separation and distribution remain subject to certain conditions, including, among others receipt of a favorable IRS ruling and opinions of HP’s tax advisors regarding certain U.S. federal income tax matters and the effectiveness of the Form 10.
For more information, view the full Hewlett Packard Enterprise Form 10 at http://www.sec.gov and visit HP’s Investor Relations site.

About Hewlett Packard Enterprise
Hewlett Packard Enterprise is an industry leading technology company that enables customers to go further, faster. With the industry’s most comprehensive portfolio, spanning the cloud to the data center to workplace applications, our technology and services help customers around the world make IT more efficient, more productive and more secure.

Forward-Looking Statements
This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the separation of Hewlett Packard Enterprise from the rest of HP; the expected timing of the completion of the separation; the ability to complete the separation considering the various closing conditions; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the separation may not be timely completed, if at all; that, prior to the completion of the separation, HP’s business may not perform as expected due to separation-related uncertainty or other factors; that the parties are unable to successfully implement separation strategies; and other risks that are described in HP’s SEC reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2014, HP’s Quarterly Reports on Form 10-Q for its fiscal quarters ended April 30, 2015 and July 31, 2015 and the “Risk Factors” section of the preliminary information statement included in the Registration Statement on Form 10 filed by Hewlett Packard Enterprise with the SEC. HP and Hewlett Packard Enterprise assume no obligation to update these forward-looking statements.

© 2015 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

Media contacts
Kate Holderness, HP
[email protected]

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. With the broadest technology portfolio spanning printing, personal systems, software, services and IT infrastructure, HP delivers solutions for customers’ most complex challenges in every region of the world. More information about HP (NYSE: HPQ) is available at http://www.hp.com

Palo Alto, CA October 7, 2015 - HP today unveiled the details of Partner First and Partner Ready, the new partner programs for HP Inc. and Hewlett Packard Enterprise (HPE) respectively. Both Partner First and Partner Ready will build upon HP’s industry-leading PartnerOne program to help partners of both new organizations capture and capitalize on opportunities through customer-oriented, solutions-led sales.

“Partners are looking for innovative solutions to address customer challenges, programs that enable their own business growth, and easier, simpler ways to do both,” said Al Chien, Executive Vice President, Dasher. “The HP Partner First and Hewlett Packard Enterprise Partner Ready programs will provide partners with greater flexibility and focus, allowing us to capture opportunities in key markets.”

HP Partner First Drives Partner Growth and Profitability
The HP Inc. Partner First program is dedicated to being first in driving partner growth and profitability, first in speed and agility, and first in simple and consistent operations.

“With more than 80% of our revenue coming through the channel, partners are critical to our success,” said Dion Weisler, future President and Chief Executive Officer, HP Inc. “Separation is a catalyst. As we create a new HP, we have a focused strategy that will enable our partners to provide innovative products and solutions that amaze customers. Together, we will capitalize on new growth opportunities and quickly adapt to market and customer dynamics.”

First in Sales: HP Inc. will offer comprehensive services and sales support that gives its partners the incentives and skills they need. HP Inc. is introducing new Partner First Services that will enable partners to maximize business opportunities. Additionally, HP Inc. is expanding the HP Partner First program tracks and introducing a new Integration Track.

First in Simplicity: HP Inc. is making it easier for partners to do business by introducing streamlined programs, tools, and processes that deliver innovation and consistency across all markets and geographies. HP Inc. is launching HP Sales Central, providing one place for partner sales representatives to access everything they need to make and close a sale. Additionally, HP Inc. is deploying best-in-class technology, tools and processes to provide partners with greater visibility into their performance.

First in Speed: HP Inc. is providing partners with increased agility and responsiveness through new marketing tools that help partners accelerate and simplify their marketing campaign creation.

HP Inc. Partner First program updates will be rolled out worldwide beginning November 1, 2015, and continuing throughout 2016.

Hewlett Packard Enterprise Partner Ready Program Enables Solution-Oriented Sales
The HPE Partner Ready program will enable partners to deliver solutions that help our joint customers evolve to the New Style of Business. This evolution is based on four core transformation areas, all powered by HPE solutions and expertise: transform to a hybrid infrastructure, protect the digital enterprise, empower data-driven organizations, and enable workplace productivity.

“Enterprises are focused more than ever on business outcomes in today’s increasingly competitive business climate” said Meg Whitman, who will become President and Chief Executive Officer of Hewlett Packard Enterprise. “As we look toward Day 1 of Hewlett Packard Enterprise, we remain committed to the channel and helping partners accelerate growth through delivering comprehensive technology solutions to meet today’s customer demand. We are thrilled to start this new chapter together.”

Announced in March 2015, the Partner Ready program retains the core membership models and financial and non-financial benefits of HP’s best-in-class PartnerOne program while adding further enhancements to help partners via improved partner profitability, increased demand generation and comprehensive partner enablement.

Driving Demand: HPE will launch a brand-new, best-in-class partner locator, roll out the previously announced Planned Marketing Development Funds (MDF) program, and add new cloud services to the Helion Partner Marketplace (US only).

Enhancing Profitability: Partner Ready will continue to provide predictable compensation from $1 with no gates or caps, and offer additional incentives to solution providers who deliver Hybrid IT and Aruba wireless networking solutions. HPE will also offer a new Partner Ready International Program, providing streamlined export authorization, global pricing, and simplified program requirements to partners serving multi-national customers.

Enabling Partner Sales and Technical Teams: HPE has introduced both a single new Sales Certification aimed at helping partner sales teams identify new opportunities, and new Knowledge Credits to reward continuous learning activities. In addition, HPE will provide incremental training enabling partner sales and presales teams to accelerate their customers’ business transformation.

HP Financial Services
To help partners seize revenue opportunities with greater speed and ease, the HP Financial Services (HPFS) Partner Connection Portal has expanded coverage to 18 countries worldwide with a suite of feature enhancements. Partners can now accelerate their deal cycle with automated credit scoring within a minute. Additionally, partners can take customization to a new level, with the ability to set price, profitability and configure a unique solution (including hardware, software and services) to meet customer needs.

The HPFS Partner Connection Portal is currently an integrated function of the HP Unison partner portal, available to both Partner Ready and Partner First partners.

Based on HP’s internal analysis of mainstream business class notebooks as of September 23, 2015 with >1 million unit annual sales having pre-installed encryption, authentication, malware protection and BIOS-level protection, passing MIL STD 810G tests, with optional docking incorporating power delivery, clamshell model, Intel Core U-Series or AMD PRO A-Series processors, built in VGA or HDMI, Display Port, RJ-45 and at least two USB 3.0 ports, integrated Smart Card reader, full connectivity offering optional WWAN, and at least 44 WHr battery.

FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of HP and its consolidated subsidiaries may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to any projections of revenue, margins, expenses, HP's effective tax rate, earnings, net earnings per share, cash flows, benefit plan funding, share repurchases, currency exchange rates or other financial items; any projections of the amount, timing or impact of cost savings or restructuring charges; any statements of the plans, strategies and objectives of management for future operations, including the execution of restructuring plans and any resulting cost savings or revenue or profitability improvements; any statements concerning the expected development, performance, market share or competitive performance relating to products or services; any statements regarding current or future macroeconomic trends or events and the impact of those trends and events on HP and its financial performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the need to address the many challenges facing HP's businesses; the competitive pressures faced by HP's businesses; risks associated with executing HP's strategy and plans for future operations; the impact of macroeconomic and geopolitical trends and events; the need to manage third party suppliers and the distribution of HP's products and services effectively; the protection of HP's intellectual property assets, including intellectual property licensed from third parties; risks associated with HP's international operations; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its suppliers, customers, clients and partners; the hiring and retention of key employees; integration and other risks associated with business combination and investment transactions; the execution, timing and results of restructuring plans, including estimates and assumptions related to the cost and the anticipated benefits of implementing those plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the quarter ended April 30, 2014 and HP’s other filings with the Securities and Exchange Commission. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2015 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

Media contacts
Kate Holderness, HP
[email protected]

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. With the broadest technology portfolio spanning printing, personal systems, software, services and IT infrastructure, HP delivers solutions for customers’ most complex challenges in every region of the world. More information about HP (NYSE: HPQ) is available at http://www.hp.com