Which two benefits are associated with using reserved instances in AWS?

Cost savings over On-Demand instances is a primary benefit of using reserved instances in AWS. When organizations commit to using a specific instance type in a particular region for a one- or three-year term, they receive significant discounts compared to the On-Demand pricing model. This pricing structure is advantageous for users who have predictable workloads and know they will require certain resources consistently over time. By opting for reserved instances, businesses can effectively lower their overall cloud expenditure while still having the capacity they need.

It's important to note that although reserved instances provide cost advantages, they do not inherently offer flexibility in resource deployment, the ability to launch instances across multiple regions, or increased instance performance. Instead, those features may be associated with other AWS offerings or plans. For instance, flexibility is more aligned with On-Demand instances, which allow for more dynamic scaling and usage.