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 August 4, 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.

$      462

209

4

60

223

372

29

(69)

(5)

$   1,285

Earnings per share - basic

$     0.64

$      1.77

Earnings per share - diluted

$     0.63

$      1.74

Weighted-average shares outstanding - basic

726

726

Weighted-average shares outstanding - diluted

738

738

For the Three Months Ended July 29, 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.

$      511

244

3

(4)

236

212

255

(186)

(3)

$   1,268

Earnings per share - basic

$     0.69

$      1.72

Earnings per share - diluted

$     0.68

$      1.68

Weighted-average shares outstanding - basic

739

739

Weighted-average shares outstanding - diluted

755

755