DELL TECHNOLOGIES INC.

Reconciliation of Selected Non-GAAP Financial Measures

(in millions, except percentages and per share amounts; unaudited; continued)

Three Months Ended

Six Months Ended

July 29, 2022

July 30, 2021

Change

July 29, 2022

July 30, 2021

Change

Earnings per share from continuing operations attributable to Dell Technologies Inc.  

Net income from continuing operations attributable to Dell Technologies Inc. — basic

$             511

$             631

$          1,583

$          1,291

Weighted-average shares outstanding — basic

739

763

746

760

Earnings per share attributable to Dell Technologies Inc. — basic

$            0.69

$            0.83

(17) %

$            2.12

$            1.70

25 %

Net income from continuing operations attributable to Dell Technologies Inc. — diluted

$             511

$             631

$          1,583

$          1,291

Weighted-average shares outstanding — diluted

755

786

768

784

Earnings per share attributable to Dell Technologies Inc. — diluted:

$            0.68

$            0.80

(15) %

$            2.06

$            1.65

25 %

Earnings per share from discontinued operations attributable to Dell Technologies Inc.

Net income from discontinued operations attributable to Dell Technologies Inc. — basic

$                —

$             200

$                —

$             427

Weighted-average shares outstanding — basic

—

763

—

760

Earnings per share attributable to Dell Technologies Inc. — basic

$                —

$            0.26

NM

$                —

$            0.56

NM

Incremental dilution from VMware, Inc. attributable to Dell Technologies

—

(3)

—

(5)

Net income from discontinued operations attributable to Dell Technologies Inc. — diluted

$                —

$             197

$                —

$             422

Weighted-average shares outstanding — diluted

—

786

—

784

Earnings per share attributable to Dell Technologies Inc. — diluted

$                —

$            0.25

NM

$                —

$            0.53

NM

Non-GAAP earnings per share attributable to Dell Technologies Inc.

Non-GAAP net income attributable to Dell Technologies Inc. — basic

$          1,268

$          1,166

$          2,703

$          2,221

Weighted-average shares outstanding — basic

739

763

746

760

Earnings per share attributable to Dell Technologies Inc. — basic

$            1.72

$            1.53

12 %

$            3.62

$            2.92

24 %

Non-GAAP net income attributable to Dell Technologies Inc. — diluted

$          1,268

$          1,166

$          2,703

$          2,221

Weighted-average shares outstanding — diluted

755

786

768

784

Earnings per share attributable to Dell Technologies Inc. — diluted

$            1.68

$            1.48

14 %

$            3.52

$            2.83

24 %

Amounts may not visually recalculate due to rounding.