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

Three Months Ended

April 29, 2022

April 30, 2021

Change

Net income from continuing operations

$          1,069

$             659

62%

   Non-GAAP adjustments:

     Amortization of intangibles

243

445

     Impact of purchase accounting

9

20

     Transaction-related (income) expenses

(2)

29

     Stock-based compensation expense

232

172

     Other corporate expenses

96

117

     Fair value adjustments on equity investments

(14)

(194)

     Aggregate adjustment for income taxes

(199)

(193)

       Non-GAAP net income

$          1,434

$          1,055

36%

Net income from continuing operations attributable to Dell Technologies Inc.

$          1,072

$             660

62%

   Non-GAAP adjustments:

     Amortization of intangibles

243

445

     Impact of purchase accounting

9

20

     Transaction-related (income) expenses

(2)

29

     Stock-based compensation expense

232

172

     Other corporate expenses

96

117

     Fair value adjustments on equity investments

(14)

(194)

     Aggregate adjustment for income taxes

(199)

(193)

     Total non-GAAP adjustments attributable to non-controlling interests

(2)

(1)

       Non-GAAP net income attributable to Dell Technologies Inc.

$          1,435

$          1,055

36%