(a)

Other cost of goods sold includes amortization of acquired inventory fair value adjustments.

(b)

Restructuring and other related items include asset impairment charges, employee severance costs,
facilities related charges, and other.

(c)

Relates to a settlement of a contractual dispute.

(d)

Other operating expenses include acquisition related costs.

(e)

Debt issuance related costs and other includes the partial term loan repayment and bridge financing, and
gains or losses on investments.

(f)

Other income tax effects and adjustments relate to tax provision based on a non-GAAP income tax rate of
6.0% for the three and nine months ended October 29, 2022, and for the three months ended July 30, 2022.
Other income tax effects and adjustments relate to tax provision based on a non-GAAP income tax rate of
5.0% for the three and nine months ended October 30, 2021.

(g)

Non-GAAP diluted weighted average shares differs from GAAP diluted weighted average shares due to the
non-GAAP net income reported.

 Marvell Technology, Inc.

 Outlook for the Fourth Quarter of Fiscal Year 2023

Reconciliations from GAAP to Non-GAAP (Unaudited)

 (In millions, except per share amounts)

Outlook for Three Months Ended

January 28, 2023

GAAP net revenue

$1,400 +/- 5%

Special items:

Non-GAAP net revenue

$1,400 +/- 5%

GAAP gross margin

49.2% +/- 1%

Special items:

Stock-based compensation

0.7 %

Amortization of acquired intangible assets

13.2 %

Other costs of goods sold

0.9 %

Non-GAAP gross margin

~ 64.0%

Total GAAP operating expenses

~ $646

Special items:

Stock-based compensation

124

Amortization of acquired intangible assets

88

Restructuring related charges

2

Other operating expenses

2

Total non-GAAP operating expenses

~ $430

GAAP diluted net income per share

 $0.00 +/- $0.05

Special items:

Stock-based compensation

0.16

Amortization of acquired intangible assets

0.31

Other cost of goods sold

0.02

Other income tax effects and adjustments

Non-GAAP diluted net income per share

$0.46 +/- $0.05