Marvell Technology Group Ltd.

 Outlook for the Third Quarter of Fiscal Year 2020

Reconciliations from GAAP to Non-GAAP (Unaudited)

 (In millions, except per share amounts)

Outlook for Three Months Ended

November 2, 2019

GAAP revenue

Special items:

—

Non-GAAP revenue

$660 +/- 3%

GAAP gross margin

53.5% to 54.5%

Special items:

Share-based compensation

0.3%

Amortization of acquired intangible assets

9.2%

Non-GAAP gross margin

63% to 64%

Total GAAP operating expenses

 $380 - $390

Special items:

Share-based compensation

65

Restructuring related charges

2

Amortization of acquired intangible assets

20

Other operating expenses

18

Total non-GAAP operating expenses

$280 +/- $2.5

GAAP diluted net loss per share

 $(0.09) - $(0.05)

Special items:

Share-based compensation

0.10

Amortization of acquired intangible assets

0.12

Other operating expenses

0.03

Other income tax effects and adjustments

Non-GAAP diluted net income per share

$0.15 - $0.19

Quarterly Revenue Trend (Unaudited)

(In thousands)

Three Months Ended

% Change

August 3,
2019

May 4,
2019

August 4,
2018

YoY

QoQ

Storage (1)

$

274,905

$

278,667

$

335,764

(18)

%

(1)

%

Networking (2)

329,605

341,344

283,330

16

%

(3)

%

   Total Core

604,510

620,011

619,094

(2)

%

(3)

%

Other (3)

52,058

42,441

46,216

13

%

23

%

Total Revenue

$

656,568

$

662,452

$

665,310

(1)

%

(1)

%