2. This presentation contains statements that are forward-looking. These statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially because of factors in this presentation or discussed in today’s press release, in the management’s discussion and analysis section of the company’s most recent Form 10-K, Forms 10-Q or in other reports and filings with the Securities and Exchange Commission. We undertake no duty to update or revise any forward-looking statements, whether as a results of new information, future events, or otherwise.

3. Quarterly Overview & Quarter Results Business Segment Financial Overview Outlook Appendix

4. Product momentum with solid execution led to record results

7. Quarterly Overview & Quarter Result Business Segment Financial Overview Outlook Appendix

8. Continued Windows 7 demand drives strong growth GAAP revenue portion related to Windows 7 deferred revenue recognition We have recast certain prior period amounts within this presentation to conform to the way we internally managed and monitored segment performance during the current fiscal year. Reported and recast results are included in the appendix.

10. Datacenter, developer & cloud drive double-digit growth We have recast certain prior period amounts within this presentation to conform to the way we internally managed and monitored segment performance during the current fiscal year. Reported and recast results are included in the appendix.

11. Bing revenue growth continues to outperform the market We have recast certain prior period amounts within this presentation to conform to the way we internally managed and monitored segment performance during the current fiscal year. Reported and recast results are included in the appendix.

12. Office 2010 momentum drives MBD growth We have recast certain prior period amounts within this presentation to conform to the way we internally managed and monitored segment performance during the current fiscal year. Reported and recast results are included in the appendix.

13. Strong quarter & exciting outlook We have recast certain prior period amounts within this presentation to conform to the way we internally managed and monitored segment performance during the current fiscal year. Reported and recast results are included in the appendix.

15. Business Segment Financial Overview Outlook Appendix

17. Business Segment Financial Overview Outlook Appendix

19. 9/30/20109/30/2009Y/Y $Y/Y % GAAP WWLD revenue$4,785$2,880$1,90566% Add: Windows 7 deferral$1,466($1,466) WWLD, adjusted for item above$4,785$4,346$43910% The non-GAAP measures provided above, which remove the revenue adjustment for Windows 7 Deferral from the most directly comparable GAAP measures, are included as an additional clarifying item to aid readers of the financial statements in further understanding the Company's first- quarter performance and the impact that certain items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. Windows & Windows Live Division: Windows 7 deferral impact

20. GAAP Microsoft operating income (D)$7,116$4,48259% Add: Windows 7 deferral (E)$1,466 Microsoft operating income, adjusted for above items F = (D + E) $7,116$5,94820% GAAP Microsoft revenue (A)$16,195$12,92025% Add: Windows 7 deferral (B)$1,466 Microsoft revenue, adjusted for above items C = (A + B) $16,195$14,38613% 9/30/20109/30/2009Y/Y GAAP Microsoft operating margin (D/A)44%35%9pts Microsoft operating margin, adjusted for above items (F/C) 44%41%3pts The non-GAAP measures provided above, which remove the revenue adjustment for Windows 7 deferral from the most directly comparable GAAP measures, are included as an additional clarifying item to aid readers of the financial statements in further understanding the Company's first- quarter performance and the impact that certain items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. Microsoft Revenue and OI: Windows 7 deferral impact

21. GAAP Microsoft net income (A)$5,410$3,57451% Add: Windows 7 deferral (B)$1,100 Microsoft net income, adjusted for above items C = (A + B) $5,410$4,67416% 9/30/20109/30/2009Y/Y GAAP EPS$0.62$0.4055% EPS adjusted for above items$0.62$0.5219% The non-GAAP measures provided above, which remove the revenue adjustment for Windows 7 deferral from the most directly comparable GAAP measures, are included as an additional clarifying item to aid readers of the financial statements in further understanding the Company's first- quarter performance and the impact that certain items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. Microsoft Net Income and EPS: Windows 7 deferral impact

22. GAAP OEM revenue (A)$3,694$1,91493% Add: Windows 7 deferral (B)$1,416 OEM revenue, adjusted for above items C = (A + B) $3,694$3,33011% 9/30/20109/30/2009Y/Y The non-GAAP measures provided above, which remove the revenue adjustment for Windows 7 deferral from the most directly comparable GAAP measures, are included as an additional clarifying item to aid readers of the financial statements in further understanding the Company's first- quarter performance and the impact that certain items and events had on the financial results. The non-GAAP financial measures provided above should not be considered as a substitute for, or superior to, the measures of financial performance prepared in accordance with GAAP. OEM Revenue: Windows 7 deferral impact

23. RevenueQ1Q2Q3Q4FY SegmentsReportedRecastReportedRecastReportedRecastReportedRecastReportedRecast WWLD $2,624 $ 2,880 $ 6,904 $ 7,189 $ 4,415 $ 4,661 $ 4,548 $4,775$18,491 $19,505 S&T$3,434 $3,550 $ 3,845 $ 3,973 $ 3,575 $ 3,706 $ 4,012 $ 4,149 $14,866 $15,378 OSD $ 486 $ 487 $582 $580 $ 566 $ 565 $ 568 $ 2,199 $2,201 MBD $ 4,404 $4,514 $ 4,745 $ 4,847 $ 4,243$4,343 $ 5,250 $ 5,372 $18,642 $19,076 EDD $ 1,891 $1,412 $ 2,902 $ 2,396 $ 1,665$1,197 $ 1,600 $1,153 $ 8,058 $ 6,158 Corporate $ 81 $77 $ 44 $37 $ 39 $30 $ 64 $ 22 $ 228 $ 166 MSFT $ 12,920 $ 19,022 $ 14,503 $ 16,039 $ 62,484 Operating Income (Loss)Q1Q2Q3Q4FY SegmentsReportedRecastReportedRecastReportedRecastReportedRecastReportedRecast WWLD $1,458 $1,483 $ 5,395 $ 5,420 $3,061 $3,076 $ 3,063 $ 3,066 $ 12,977 $ 13,045 S&T $ 1,235 $1,237 $ 1,455 $ 1,447 $ 1,255 $ 1,254 $1,546 $1,548 $ 5,491 $ 5,486 OSD $ (481) $ (477) $ (465) $ (463) $ (713) $ (710) $ (696) $ (690) $ (2,355) $ (2,340) MBD $2,859 $ 2,827 $ 3,011 $ 2,943 $ 2,622 $ 2,563 $ 3,284 $ 3,229 $ 11,776 $ 11,562 EDD $ 310 $ 260 $ 376 $370 $ 165 $ 143 $ (172) $ (168) $ 679 $ 605 Corporate $ (899) $ (848) $ (1,259) $ (1,204) $ (1,217) $ (1,153) $ (1,095) $ (1,055) $ (4,470) $ (4,260) MSFT $ 4,482 $ 8,513 $ 5,173 $ 5,930 $ 24,098 We have recast certain prior period amounts within this presentation to conform to the way we internally managed and monitored segment performance during the current fiscal year. $ Millions