Marvell Technology Group Ltd.

 Outlook for the Second Quarter of Fiscal Year 2020

Reconciliations from GAAP to Non-GAAP (Unaudited)

 (In millions, except per share amounts)

Outlook for Three Months Ended
August 3, 2019

GAAP revenue

$650 +/- 3%

Special items:

—

Non-GAAP revenue

$650 +/- 3%

GAAP gross margin

53% to 54%

Special items:

Share-based compensation

0.3%

Amortization of acquired intangible assets

9.4%

Non-GAAP gross margin

63% to 64%

Total GAAP operating expenses

 $370 - $380

Special items:

Share-based compensation

64

Restructuring related charges

1

Amortization of acquired intangible assets

20

Other operating expenses

2

Total non-GAAP operating expenses

$285 - $290

GAAP diluted net loss per share

 $(0.09) - $(0.05)

Special items:

Share-based compensation

0.10

Amortization of acquired intangible assets

0.12

Other operating expenses

0.01

Other income tax effects and adjustments

Non-GAAP diluted net income per share

$0.13 - $0.17

Quarterly Revenue Trend (Unaudited)

(In thousands)

Three Months Ended

% Change

May 4,
 2019

February 2,
 2019

May 5,
 2018

YoY

QoQ

Storage (1)

$

278,667

$

317,042

$

317,069

(12)

%

(12)

%

Networking (2)

341,344

387,457

244,228

40

%

(12)

%

   Total Core

620,011

704,499

561,297

10

%

(12)

%

Other (3)

42,441

40,300

43,334

(2)

%

5

%

Total Revenue

$

662,452

$

744,799

$

604,631

10

%

(11)

%