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

For the Three Months Ended November 3, 2023

GAAP

Amortization of intangibles

Impact of purchase accounting

Transaction-related (income) expenses

Stock-based compensation expense

Other corporate expenses

Fair value adjustments on equity investments

Aggregate adjustment for income taxes

Aggregate adjustment for non-controlling interests

Non-GAAP

Net income attributable to Dell Technologies Inc.

$  1,006

205

2

(5)

227

41

(8)

(77)

(2)

$   1,389

Earnings per share - basic

$     1.39

$      1.92

Earnings per share - diluted

$     1.36

$      1.88

Weighted-average shares outstanding - basic

722

722

Weighted-average shares outstanding - diluted

740

740

For the Three Months Ended October 28, 2022

GAAP

Amortization of intangibles

Impact of purchase accounting

Transaction-related (income) expenses

Stock-based compensation expense

Other corporate expenses

Fair value adjustments on equity investments

Aggregate adjustment for income taxes

Aggregate adjustment for non-controlling interests

Non-GAAP

Net income attributable to Dell Technologies Inc.

$      245

245

21

4

235

1,112

(44)

(109)

(2)

$   1,707

Earnings per share - basic

$     0.34

$      2.34

Earnings per share - diluted

$     0.33

$      2.30

Weighted-average shares outstanding - basic

728

728

Weighted-average shares outstanding - diluted

743

743