HPE TO ACQUIRE SUPERCOMPUTING LEADER CRAY

Combined Company Will Drive Next Generation of High Performance Computing

San Jose, Calif., and Seat짯tle, Wash., May 17, 2019  Hew짯lett Packard Enter짯pri짯se (NYSE:HPE) and Cray Inc. (Nasdaq: CRAY), a glo짯bal super짯com짯pu짯ter lea짯der, today announ짯ced that the com짯pa짯nies have ente짯red into a defi짯ni짯ti짯ve agree짯ment under which HPE will acqui짯re Cray for $35.00 per share in cash, in a tran짯sac짯tion valued at appro짯xi짯m짯ate짯ly $1.3 bil짯li짯on, net of cash.

Ans짯wers to some of society셲 most pres짯sing chal짯lenges are buried in mas짯si짯ve amounts of data, said Anto짯nio Neri, Pre짯si짯dent and CEO, HPE. 쏰nly by pro짯ces짯sing and ana짯ly짯zing this data will we be able to unlock the ans짯wers to cri짯ti짯cal chal짯lenges across medi짯ci짯ne, cli짯ma짯te chan짯ge, space and more. Cray is a glo짯bal tech짯no짯lo짯gy lea짯der in super짯com짯pu짯ting and shares our deep com짯mit짯ment to inno짯va짯ti짯on. By com짯bi짯ning our world-class teams and tech짯no짯lo짯gy, we will have the oppor짯tu짯ni짯ty to dri짯ve the next gene짯ra짯ti짯on of high per짯for짯mance com짯pu짯ting and play an important part in advan짯cing the way peo짯p짯le live and work.

 

The Explosion of Data is Driving Strong HPC Growth

The explo짯si짯on of data from arti짯fi짯ci짯al intel짯li짯gence, machi짯ne lear짯ning, and big data ana짯ly짯tics and evol짯ving cus짯to짯mer needs for data-inten짯si짯ve workloads are dri짯ving a signi짯fi짯cant expan짯si짯on in HPC.

Over the next three years the HPC seg짯ment of the mar짯ket and asso짯cia짯ted sto짯rage and ser짯vices is expec짯ted to grow from appro짯xi짯m짯ate짯ly $28 bil짯li짯on in 2018 to appro짯xi짯m짯ate짯ly $35 bil짯li짯on in 2021, a com짯pound annu짯al growth rate of appro짯xi짯m짯ate짯ly 9 per짯cent. Exas짯ca짯le is a gro짯wing seg짯ment of over짯all HPC oppor짯tu짯ni짯ties and more than $4 bil짯li짯on of Exas짯ca짯le oppor짯tu짯ni짯ties are expec짯ted to be award짯ed over the next five years.

Addres짯sing com짯plex chal짯lenges and advan짯cing cri짯ti짯cal aca짯de짯mic rese짯arch, inclu짯ding pre짯dic짯ting future wea짯ther pat짯terns, deli짯ve짯ring breakth짯rough medi짯cal dis짯co짯veries, and pre짯ven짯ting cyber-attacks, requi짯res signi짯fi짯cant com짯pu짯ta짯tio짯nal capa짯bi짯li짯ties, up to and through Exas짯ca짯le level archi짯tec짯tu짯re. Exas짯ca짯le capa짯ble sys짯tems enable solu짯ti짯ons to the짯se pro짯blems with much grea짯ter pre짯cis짯i짯on and insight.

This is an ama짯zing oppor짯tu짯ni짯ty to bring tog짯e짯ther Cray셲 lea짯ding-edge tech짯no짯lo짯gy and HPE셲 wide reach and deep pro짯duct port짯fo짯lio, pro짯vi짯ding cus짯to짯mers of all sizes with inte짯gra짯ted solu짯ti짯ons and uni짯que super짯com짯pu짯ting tech짯no짯lo짯gy to address the full spec짯trum of their data-inten짯si짯ve needs, said Peter Unga짯ro, Pre짯si짯dent and CEO of Cray. HPE and Cray share a com짯mit짯ment to cus짯to짯mer-cen짯tric inno짯va짯ti짯on and a visi짯on to crea짯te the glo짯bal lea짯der for the future of high per짯for짯mance com짯pu짯ting and AI. On behalf of the Cray Board of Direc짯tors, we are plea짯sed to have rea짯ched an agree짯ment that we belie짯ve maxi짯mi짯zes value and are exci짯ted for the oppor짯tu짯ni짯ties that this uni짯que com짯bi짯na짯ti짯on will crea짯te for both our employees and our customers.

 

Cray is a Leading Innovator in Supercomputer Solutions

Cray is the pre짯mier pro짯vi짯der of high-end super짯com짯pu짯ting solu짯ti짯ons that address cus짯to짯mers most chal짯len짯ging, data-inten짯si짯ve workloads for making cri짯ti짯cal decis짯i짯ons. Cray has a lea짯der짯ship posi짯ti짯on in the top 100 super짯com짯pu짯ter instal짯la짯ti짯ons around the glo짯be. With a histo짯ry tying back to Cray Rese짯arch, which was foun짯ded in 1972, Cray is head짯quar짯te짯red in Seat짯tle, Washing짯ton, with US-based manu짯fac짯tu짯ring, and appro짯xi짯m짯ate짯ly 1,300 employees world짯wi짯de. The com짯pa짯ny deli짯ver짯ed reve짯nue of $456 mil짯li짯on in its most recent fis짯cal year, up 16 per짯cent year over year.

Cray셲 super짯com짯pu짯ting sys짯tems, deli짯ver짯ed through their cur짯rent gene짯ra짯ti짯on XC and CS plat짯forms, and next-gene짯ra짯ti짯on Shas짯ta series plat짯form, have the abili짯ty to hand짯le mas짯si짯ve data sets, con짯ver짯ged mode짯ling, simu짯la짯ti짯on, AI, and ana짯ly짯tics workloads. In addi짯ti짯on to super짯com짯pu짯ters, they offer high-per짯for짯mance sto짯rage, low-laten짯cy high per짯for짯mance HPC inter짯con짯nects, a full HPC sys짯tem soft짯ware stack and pro짯gramming envi짯ron짯ment, data ana짯ly짯tics, and AI solu짯ti짯ons all curr짯ent짯ly deli짯ver짯ed through inte짯gra짯ted systems.

Cray recent짯ly announ짯ced an Exas짯ca짯le super짯com짯pu짯ter con짯tract for over $600 mil짯li짯on for the U.S. Depart짯ment of Energy셲 Oak Ridge Natio짯nal Labo짯ra짯to짯ry. The sys짯tem, which is tar짯ge짯ted to be the world셲 fas짯test sys짯tem, will enable ground짯brea짯king rese짯arch and AI at unpre짯ce짯den짯ted sca짯le, using Cray셲 new Shas짯ta sys짯tem archi짯tec짯tu짯re and Slingshot inter짯con짯nect. The com짯pa짯ny was also part of an award with Intel for the first U.S. Exas짯ca짯le con짯tract from the U.S. Depart짯ment of Energy셲 Argon짯ne Natio짯nal Labo짯ra짯to짯ry, with Cray셲 por짯ti짯on of the con짯tract valued at over $100 million.

 

Cray Strengthens and Expands HPE셲 High Performance Computing Portfolio

High per짯for짯mance com짯pu짯ting is a key com짯po짯nent of HPE셲 visi짯on and growth stra짯tegy and the com짯pa짯ny curr짯ent짯ly offers world-class HPC solu짯ti짯ons, inclu짯ding HPE Apol짯lo and SGI, to cus짯to짯mers world짯wi짯de. This port짯fo짯lio will be fur짯ther streng짯the짯ned by lever짯aging Cray셲 foun짯da짯tio짯nal tech짯no짯lo짯gies and adding com짯ple짯men짯ta짯ry solu짯ti짯ons. The com짯bi짯ned com짯pa짯ny will also reach a broa짯der set of end mar짯kets, offe짯ring enter짯pri짯se, aca짯de짯mic and govern짯ment cus짯to짯mers a broad ran짯ge of solu짯ti짯ons and deep exper짯ti짯se to sol짯ve their most com짯plex pro짯blems. Tog짯e짯ther, HPE and Cray will have enhan짯ced oppor짯tu짯ni짯ties for growth and the inte짯gra짯ted plat짯form, sca짯le and resour짯ces to lead the Exas짯ca짯le era of high per짯for짯mance computing.

The com짯bi짯na짯ti짯on of HPE and Cray is expec짯ted to deli짯ver signi짯fi짯cant cus짯to짯mer bene짯fits including:

  • Future HPC-as-a-Ser짯vice and AI / ML ana짯ly짯tics through HPE GreenLake
  • A com짯pre짯hen짯si짯ve end-to-end port짯fo짯lio of HPC infra짯struc짯tu짯re com짯pu짯te, high-per짯for짯mance sto짯rage, sys짯tem inter짯con짯nects, soft짯ware and ser짯vices sup짯ple짯men짯ting exis짯ting HPE capa짯bi짯li짯ties to address the full spec짯trum of cus짯to짯mers data-inten짯si짯ve needs
  • Dif짯fe짯ren짯tia짯ted next-gene짯ra짯ti짯on tech짯no짯lo짯gy addres짯sing data inten짯si짯ve workloads
  • Increased inno짯va짯ti짯on and tech짯no짯lo짯gi짯cal lea짯der짯ship from lever짯aging grea짯ter sca짯le, com짯bi짯ned talent and expan짯ded tech짯no짯lo짯gy capabilities
  • Enhan짯ced sup짯p짯ly chain capa짯bi짯li짯ties lever짯aging US-based manufacturing

 

Signi짯fi짯cant Eco짯no짯mic Upsi짯de Expec짯ted to be Rea짯li짯zed from the Combination

Brin짯ging tog짯e짯ther HPE and Cray enables an enhan짯ced finan짯cial pro짯fi짯le for the com짯bi짯ned com짯pa짯ny that includes seve짯ral reve짯nue growth oppor짯tu짯ni짯ties and cost synergies.

The com짯pa짯nies expect the com짯bi짯na짯ti짯on to dri짯ve signi짯fi짯cant reve짯nue growth oppor짯tu짯ni짯ties by:

  • Capi짯ta짯li짯zing on the gro짯wing HPC seg짯ment of the mar짯ket and Exas짯ca짯le opportunities
  • Enhan짯cing HPE셲 cus짯to짯mer base with a com짯ple짯men짯ta짯ry foot짯print in fede짯ral busi짯ness and aca짯de짯mia and the company셲 abili짯ty to acce짯le짯ra짯te com짯mer짯cial super짯com짯pu짯ting adoption
  • Intro짯du짯cing new offe짯rings in AI / ML and HPC-as-a-ser짯vice with HPE GreenLake

We also expect to deli짯ver signi짯fi짯cant cost syn짯er짯gies through effi짯ci짯en짯ci짯es and by lever짯aging pro짯prie짯ta짯ry Cray tech짯no짯lo짯gy, like the Slingshot inter짯con짯nect, to lower cos짯ts and impro짯ve pro짯duct performance.

 

Transaction Details

As a result of the enhan짯ced finan짯cial pro짯files of the com짯bi짯ned com짯pa짯nies, the deal is expec짯ted to be accre짯ti짯ve to HPE non-GAAP ope짯ra짯ting pro짯fit and ear짯nings in the first full year fol짯lo짯wing the close.

As part of the tran짯sac짯tion, HPE expects to incur one-time inte짯gra짯ti짯on cos짯ts that will be absor짯bed within HPEFY20 free cash flow out짯look of $1.9B to $2.1B that remains unchanged.

The tran짯sac짯tion is expec짯ted to clo짯se by the first quar짯ter of HPE셲 fis짯cal year 2020, sub짯ject to regu짯la짯to짯ry appr짯ovals and other cus짯to짯ma짯ry clo짯sing conditions.

 

Investment Community Conference Call

HPE will con짯duct a live audio web짯cast of its con짯fe짯rence call to dis짯cuss HPE셲 acqui짯si짯ti짯on of Cray. The call is sche짯du짯led for Fri짯day, May 17th, at 8:30 a.m. ET / 5:30 a.m. PT, and the web짯cast will be available at www.hpe.com/investor/2019Q2HPETOACQUIRECRAY

 

HPE Q2 FY19 Earnings Announcement

As a remin짯der, Hew짯lett Packard Enter짯pri짯se (NYSE: HPE) will con짯duct a live audio web짯cast of its con짯fe짯rence call to review its finan짯cial results for the second quar짯ter of fis짯cal 2019, which ended April 30, 2019.

The call is sche짯du짯led for Thurs짯day, May 23, at 4:30 p.m. ET / 1:30 p.m. PT, and the web짯cast will be available atwww.hpe.com/investor/2019Q2Webcast.

 

About Hewlett Packard Enterprise

Hew짯lett Packard Enter짯pri짯se is a glo짯bal tech짯no짯lo짯gy lea짯der focu짯sed on deve짯lo짯ping intel짯li짯gent solu짯ti짯ons that allow cus짯to짯mers to cap짯tu짯re, ana짯ly짯ze and act upon data seam짯less짯ly from edge to cloud. HPE enables cus짯to짯mers to acce짯le짯ra짯te busi짯ness out짯co짯mes by dri짯ving new busi짯ness models, crea짯ting new cus짯to짯mer and employee expe짯ri짯en짯ces, and incre짯asing ope짯ra짯tio짯nal effi짯ci짯en짯cy today and into the future.

 

About Cray

Cray Inc. (Nasdaq:CRAY) com짯bi짯nes com짯pu짯ta짯ti짯on and crea짯ti짯vi짯ty so visio짯na짯ries can keep asking ques짯ti짯ons that chall짯enge the limits of pos짯si짯bi짯li짯ty. Dra짯wing on more than 45 years of expe짯ri짯ence, Cray deve짯lo짯ps the world셲 most advan짯ced super짯com짯pu짯ters, pushing the boun짯da짯ries of per짯for짯mance, effi짯ci짯en짯cy and sca짯la짯bi짯li짯ty. Cray con짯ti짯nues to inno짯va짯te today at the con짯ver짯gence of data and dis짯co짯very, offe짯ring a com짯pre짯hen짯si짯ve port짯fo짯lio of super짯com짯pu짯ters, high-per짯for짯mance sto짯rage, data ana짯ly짯tics and arti짯fi짯ci짯al intel짯li짯gence solu짯ti짯ons. Go to www.Cray.com for more information.

 

Additional Information and Where to Find It

In con짯nec짯tion with the pro짯po짯sed tran짯sac짯tion, Cray will file rele짯vant mate짯ri짯als with the SEC, inclu짯ding a preli짯mi짯na짯ry and defi짯ni짯ti짯ve pro짯xy state짯ment. Prompt짯ly after fil짯ing the defi짯ni짯ti짯ve pro짯xy state짯ment, Cray will mail the defi짯ni짯ti짯ve pro짯xy state짯ment and a pro짯xy card to the share짯hol짯ders of Cray. CRAY SHAREHOLDERS ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Share짯hol짯ders of Cray will be able to obtain a free copy of the짯se docu짯ments, when they beco짯me available, at the web짯site main짯tai짯ned by the SEC at www.sec.gov or free of char짯ge at www.cray.com.

Addi짯tio짯nal짯ly, Cray will file other rele짯vant mate짯ri짯als in con짯nec짯tion with the pro짯po짯sed acqui짯si짯ti짯on of Cray by HPE pur짯su짯ant to the terms of an Agree짯ment and Plan of Mer짯ger by and among, HPE, Cray Mer짯ger Sub, Inc., a whol짯ly owned sub짯si짯dia짯ry of HPE, and Cray. Cray and its direc짯tors, exe짯cu짯ti짯ve offi짯cers and other mem짯bers of its manage짯ment and employees, under SEC rules, may be dee짯med to be par짯ti짯ci짯pan짯ts in the soli짯ci짯ta짯ti짯on of pro짯xies of Cray share짯hol짯ders in con짯nec짯tion with the pro짯po짯sed tran짯sac짯tion. Infor짯ma짯ti짯on con짯cer짯ning the inte짯rests of Cray셲 par짯ti짯ci짯pan짯ts in the soli짯ci짯ta짯ti짯on, which may, in some cases, be dif짯fe짯rent than tho짯se of Cray셲 share짯hol짯ders gene짯ral짯ly, are available in Cray셲 pro짯xy state짯ment for its 2019 annu짯al mee짯ting of share짯hol짯ders, which was filed with the SEC on April 18, 2019. To the ext짯ent hol짯dings of secu짯ri짯ties by Cray셲 direc짯tors or exe짯cu짯ti짯ve offi짯cers have chan짯ged sin짯ce the amounts dis짯c짯lo짯sed Cray셲 respec짯ti짯ve pro짯xy state짯ment, such chan짯ges have been or will be reflec짯ted on State짯ments of Chan짯ge in Owner짯ship on Form 4 filed with the SEC. Addi짯tio짯nal infor짯ma짯ti짯on regar짯ding the짯se per짯sons and their inte짯rests in the pro짯po짯sed tran짯sac짯tion will be set forth in the defi짯ni짯ti짯ve pro짯xy state짯ment rela짯ting to the pro짯po짯sed tran짯sac짯tion when it beco짯mes available. The짯se docu짯ments are available free of char짯ge at the SEC셲 web site at www.sec.gov or by going to Cray셲 web짯site at www.cray.com.

 

Forward-looking Statements

This docu짯ment con짯ta짯ins for짯ward-loo짯king state짯ments within the mea짯ning of the safe har짯bor pro짯vi짯si짯ons of the Pri짯va짯te Secu짯ri짯ties Liti짯ga짯ti짯on Reform Act of 1995. Such state짯ments invol짯ve risks, uncer짯tain짯ties and assump짯ti짯ons. If such risks or uncer짯tain짯ties mate짯ria짯li짯ze or such assump짯ti짯ons pro짯ve incor짯rect, the results of HPE and its con짯so짯li짯da짯ted sub짯si짯dia짯ries or of Cray could dif짯fer mate짯ri짯al짯ly from tho짯se expres짯sed or impli짯ed by such for짯ward-loo짯king state짯ments and assump짯ti짯ons. All state짯ments other than state짯ments of his짯to짯ri짯cal fact are state짯ments that could be dee짯med for짯ward-loo짯king state짯ments, inclu짯ding, but not limi짯t짯ed to, any state짯ments regar짯ding the expec짯ted bene짯fits and cos짯ts of the tran짯sac짯tion con짯tem짯pla짯ted by this docu짯ment; the expec짯ted timing of the com짯ple짯ti짯on of the tran짯sac짯tion; the abili짯ty of HPE, its sub짯si짯dia짯ries and Cray to com짯ple짯te the tran짯sac짯tion con짯side짯ring the various con짯di짯ti짯ons to the tran짯sac짯tion, some of which are out짯side the par짯ties con짯trol, inclu짯ding tho짯se con짯di짯ti짯ons rela짯ted to regu짯la짯to짯ry appr짯ovals; pro짯jec짯tions of reve짯nue, expen짯ses, net ear짯nings, ope짯ra짯ting pro짯fit, cash flows, or other finan짯cial items; the expec짯ta짯ti짯on of the com짯bi짯ned com짯pa짯ny having the oppor짯tu짯ni짯ty to dri짯ve the next gene짯ra짯ti짯on of high per짯for짯mance com짯pu짯ting and play an important part in advan짯cing the way peo짯p짯le live and work; the expec짯ted size of the HPC seg짯ment of the mar짯ket and asso짯cia짯ted sto짯rage and ser짯vices in 2021; the oppor짯tu짯ni짯ty to bring tog짯e짯ther Cray and HPE to pro짯vi짯de cus짯to짯mers uni짯que super짯com짯pu짯ting tech짯no짯lo짯gy; the belief that the agree짯ment maxi짯mi짯zes Cray셲 value for its share짯hol짯ders and the uni짯que combination셲 oppor짯tu짯ni짯ties for both employees and cus짯to짯mers; the expec짯ted streng짯thening of HPE셲 port짯fo짯lio by lever짯aging Cray셲 solu짯ti짯ons; the expec짯ta짯ti짯ons rela짯ting to the com짯bi짯ned company셲 reach to a broa짯der set of end mar짯kets; the expec짯ta짯ti짯ons rela짯ting to the com짯bi짯ned company셲 enhan짯ced oppor짯tu짯ni짯ties for growth and the inte짯gra짯ted plat짯form to lead the Exas짯ca짯le era of high per짯for짯mance com짯pu짯ting; the expec짯ta짯ti짯on that the com짯bi짯ned com짯pa짯ny will deli짯ver signi짯fi짯cant cus짯to짯mer bene짯fits; the expec짯ta짯ti짯on that signi짯fi짯cant eco짯no짯mic upsi짯de will be rea짯li짯zed from the com짯bi짯na짯ti짯on; the expec짯ta짯ti짯on that the com짯bi짯ned company셲 enhan짯ced finan짯cial pro짯fi짯le; the expec짯ta짯ti짯on that the com짯bi짯ned com짯pa짯ny will dri짯ve signi짯fi짯cant reve짯nue growth oppor짯tu짯ni짯ties; state짯ments regar짯ding the deli짯very of signi짯fi짯cant cost syn짯er짯gies to lower cos짯ts and impro짯ve pro짯duct per짯for짯mance; the expec짯ta짯ti짯on that the tran짯sac짯tion will be accre짯ti짯ve to HPE non-GAAP ope짯ra짯ting pro짯fit and ear짯nings in the first full fis짯cal year fol짯lo짯wing clo짯se; HPE셲 expec짯ta짯ti짯on to incur one-time inte짯gra짯ti짯on cos짯ts that will be absor짯bed into HPEFY20 free cash flow out짯look of $1.9B to $2.1B that remains unch짯an짯ged; the expec짯ted clo짯sing timing; any state짯ments con짯cer짯ning the expec짯ted deve짯lo짯p짯ment, per짯for짯mance, mar짯ket share or com짯pe짯ti짯ti짯ve per짯for짯mance rela짯ting to pro짯ducts or ser짯vices; any state짯ments regar짯ding cur짯rent or future macroe짯co짯no짯mic trends or events and the impact of tho짯se trends and events on HPE or Cray and such com짯pa짯nies finan짯cial per짯for짯mance; any state짯ments of expec짯ta짯ti짯on or belief; and any state짯ments of assump짯ti짯ons under짯ly짯ing any of the fore짯go짯ing. Risks, uncer짯tain짯ties and assump짯ti짯ons include the pos짯si짯bi짯li짯ty that expec짯ted bene짯fits may not mate짯ria짯li짯ze as expec짯ted; that the inte짯gra짯ti짯on of the acqui짯si짯ti짯on post-clo짯sing may not occur as anti짯ci짯pa짯ted, and the com짯bi짯ned com짯pa짯nies abili짯ty to achie짯ve the growth pro짯s짯pects and syn짯er짯gies expec짯ted from the tran짯sac짯tion, as well as delays, chal짯lenges and expen짯ses asso짯cia짯ted with inte짯gra짯ting the com짯bi짯ned com짯pa짯nies exis짯ting busi짯nesses may incur; that the tran짯sac짯tion may not be time짯ly com짯ple짯ted, if at all; that, pri짯or to the com짯ple짯ti짯on of the tran짯sac짯tion, Cray셲 busi짯ness may not per짯form as expec짯ted due to tran짯sac짯tion-rela짯ted uncer짯tain짯ty or other fac짯tors; the effect of the announce짯ment or pen짯den짯cy of the tran짯sac짯tion on Cray셲 busi짯ness rela짯ti짯onships, ope짯ra짯ting results, and busi짯ness gene짯ral짯ly; that the par짯ties are unable to suc짯cessful짯ly imple짯ment inte짯gra짯ti짯on stra짯te짯gies; the need to address the many chal짯lenges facing Cray셲 and HPE셲 busi짯nesses; the com짯pe짯ti짯ti짯ve pres짯su짯res faced by the busi짯nesses; risks asso짯cia짯ted with exe짯cu짯ting stra짯tegy; the impact of macroe짯co짯no짯mic and geo짯po짯li짯ti짯cal trends and events; the deve짯lo짯p짯ment and tran짯si짯ti짯on of new pro짯ducts and ser짯vices and the enhance짯ment of exis짯ting pro짯ducts and ser짯vices to meet cus짯to짯mer needs and respond to emer짯ging tech짯no짯lo짯gi짯cal trends and other risks that are descri짯bed in the SEC reports of HPE and Cray, inclu짯ding but not limi짯t짯ed to the risks descri짯bed in HPE셲 Annu짯al Report on Form 10멚 for its fis짯cal year ended Octo짯ber 31, 2018, and sub짯se짯quent quar짯ter짯ly reports on Form 10멡, Cray셲 Annu짯al Report on Form 10멚 for its fis짯cal year ended Decem짯ber 31, 2018 and sub짯se짯quent quar짯ter짯ly reports on Form 10멡, and that are other짯wi짯se descri짯bed or updated from time to time in other filings with the SEC. HPE and Cray assu짯me no obli짯ga짯ti짯on and do not intend to update the짯se for짯ward-loo짯king statements.