DELL TECHNOLOGIES INC.
Reconciliation of Selected Non-GAAP Financial Measures
(in millions, except percentages; unaudited; continued)

Three Months Ended

Fiscal Year Ended

February 3,
2023

January 28,
2022

Change

February 3,
2023

January 28,
2022

Change

Net income (loss) from continuing operations

$             606

$              (29)

NM

$          2,422

$          4,942

(51) %

Non-GAAP adjustments:

Amortization of intangibles

238

323

970

1,641

Impact of purchase accounting

11

20

44

67

Transaction-related (income) expenses

(14)

1,492

(16)

(2,143)

Stock-based compensation expense

228

216

931

808

Other corporate expenses

392

45

1,812

337

Fair value adjustments on equity investments

9

(192)

206

(572)

Aggregate adjustment for income taxes

(148)

(485)

(642)

(156)

Non-GAAP net income

$          1,322

$          1,390

(5) %

$          5,727

$          4,924

16 %

Net income (loss) from continuing operations
attributable to Dell Technologies Inc.

$             614

$              (28)

NM

$          2,442

$          4,948

(51) %

Non-GAAP adjustments:

Amortization of intangibles

238

323

970

1,641

Impact of purchase accounting

11

20

44

67

Transaction-related (income) expenses

(14)

1,492

(16)

(2,143)

Stock-based compensation expense

228

216

931

808

Other corporate expenses

392

45

1,812

337

Fair value adjustments on equity investments

9

(192)

206

(572)

Aggregate adjustment for income taxes

(148)

(485)

(642)

(156)

Total non-GAAP adjustments attributable
to non-controlling interests

(6)

(1)

(13)

(7)

Non-GAAP net income attributable to
Dell Technologies Inc.

$          1,324

$          1,390

(5) %

$          5,734

$          4,923

16 %