JLens Urges Intel Shareholders to Vote AGAINST Proxy Proposal #7 at Company’s May 13th Annual Meeting

Contends that Proposal #7 Seeks to Use the Proxy Process to Advance Geopolitical Activism and Risks Undermining a Critical Driver of Long-Term Shareholder Value

NEW YORK--(BUSINESS WIRE)--JLens, a Registered Investment Advisor that empowers investors to align their capital with Jewish values, today urged shareholders of Intel Corporation (NASDAQ: INTC) (“Intel” or “the Company”) to vote AGAINST a shareholder proposal that it believes aligns with the objectives of the Boycott, Divestment, and Sanctions (“BDS”) movement, which seeks to apply economic pressure on companies operating in Israel.

JLens argues that Proposal 7, which will be voted on at the Intel annual meeting on May 13, 2026, seeks to advance geopolitical activism at the expense of long-term shareholder value. The proposal calls for the Intel Board of Directors to report on the effectiveness of the Company’s human rights due diligence processes in conflict-affected and high-risk areas (“CAHRAs”), with particular reference to Israel and the “Occupied Palestinian Territory,” as well as a limited number of other CAHRAs. Intel has long been a target of BDS-related activism because of its substantial operations in Israel, and the Company’s Board of Directors has recommended that shareholders vote AGAINST the proposal.

“Proposal 7 purports to be motivated by a concern for human rights, but in practice seeks to discourage legitimate business activity conducted by a publicly traded technology company operating in Israel,” said Ari Hoffnung, Managing Director of JLens. “In our view, it would do nothing to enhance human rights oversight or create shareholder value, and instead reflects the Boycott, Divestment, and Sanctions movement’s efforts to target companies operating in Israel.”

Israel is a Critical Engine of Intel’s Innovation and Long-Term Shareholder Value
JLens emphasized that Intel’s operations in Israel are a critical component of the Company’s global innovation strategy and a meaningful driver of long-term shareholder value.

Established in 1974 as Intel’s first research and development center outside the United States, the Israel-based operations have evolved into a central pillar of the Company’s R&D engine. Teams in Israel have driven foundational innovations in personal computing, mobile technology, and multi-core processors, and today remain central to developments in artificial intelligence, advanced chips, and connectivity—technologies that power computing systems and AI applications used worldwide.

Intel is also one of Israel’s largest private-sector high-tech employers, with more than 9,000 employees and tens of thousands of additional jobs supported across the economy. Over five decades, the Company has invested approximately $27 billion in Israel and contributed roughly $86 billion in exports, while working with more than 1,000 local suppliers—most of them small and mid-sized businesses—extending its impact across a broad economic ecosystem. Its manufacturing operations in Israel further support the resilience of the global semiconductor supply chain.

“Intel’s presence in Israel reflects decades of strategic investment in one of its most productive innovation hubs,” said Mr. Hoffnung. “These operations have played a defining role in the Company’s technological leadership and continue to be integral to its long-term competitive position. Shareholders should carefully consider whether proposals that seek to disrupt or politicize these operations are genuinely aligned with their economic interests."

Prior Rejection of Similar Proposal
The same proponent filed a comparable proposal at the 2025 Intel annual meeting seeking “an ethical impact assessment” of the Company’s business facilities in Israel, JLens noted. Intel reported that last year’s proposal was rejected by 66% of the shares present in-person or represented by proxy, while only 7% of the shares voted in favor.

“After failing to secure shareholder support last year, the current version of the proposal has been reframed to appear less overtly anti-Israel. Shareholders should not be misled. When the same proponent brings successive proposals under different pretexts, but with the same objective of harming Israel’s economic interests, investors should evaluate the proposal based on its actual intent and likely economic consequences," said Mr. Hoffnung.

JLens has published a Proxy Memorandum outlining its opposition to Proposal 7 and recommending that shareholders vote AGAINST the measure.

About JLens
Founded in 2012, JLens is a 501(c)(3) nonprofit and Registered Investment Advisor that empowers investors to align their capital with Jewish values and advocates for Jewish communal priorities in the corporate arena. JLens’ Jewish Investor Network is composed of over 35 Jewish institutions, representing $12 billion in communal capital. In 2022, JLens established an affiliation with ADL (Anti-Defamation League), the leading anti-hate organization in the world. More at www.jlensnetwork.org.

PLEASE NOTE: THIS IS NOT A PROXY SOLICITATION AND NO PROXY CARDS WILL BE ACCEPTED. JLens is not asking for your proxy card and cannot accept your proxy card. Please DO NOT send us your proxy card.