SANDISK PROVIDES BUSINESS UPDATE AND SETS JANUARY 21 TO DISCUSS FOURTH QUARTER FINANCIAL RESULTS

MILPITAS, Calif., January 12, 2015 – SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, today provided preliminary revenue results for its fourth fiscal quarter ended December 28, 2014. The company estimates total revenue to be approximately $1.73 billion, lower than the previously forecasted revenue range of $1.80 billion to $1.85 billion. The lower revenue was primarily due to weaker than expected sales of retail and iNAND products. Non-GAAP gross margin for the fourth fiscal quarter is expected to be approximately 45% compared to the previously guided range of 47% to 49%.

On Wednesday, January 21, 2015, SanDisk will publish its fourth quarter fiscal 2014 financial results press release via business wire after the close of market, and will hold its earnings conference call at 2 p.m., Pacific time. To listen to the January 21, 2015 conference call, please dial 785-830-7989, password 9225981, at least 10 minutes before the call commences. The conference call will also be available on a listen-only mode webcast, and it can be accessed live from SanDisk’s website at www.sandisk.com/ir. A replay of the webcast will also be made available, on-demand, following the conclusion of the conference call.

A reconciliation of expected non-GAAP gross margin to expected GAAP gross margin for the fourth fiscal quarter is available on our website at www.sandisk.com/IR.