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

For the Six 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.

$  1,045

408

8

59

448

471

44

(225)

(7)

$   2,251

Earnings per share - basic

$     1.44

$      3.10

Earnings per share - diluted

$     1.42

$      3.05

Weighted-average shares outstanding - basic

725

725

Weighted-average shares outstanding - diluted

737

737

For the Six 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.

$  1,583

487

12

(6)

468

308

241

(385)

(5)

$   2,703

Earnings per share - basic

$     2.12

$      3.62

Earnings per share - diluted

$     2.06

$      3.52

Weighted-average shares outstanding - basic

746

746

Weighted-average shares outstanding - diluted

768

768