1、Copyright Dell Inc.All Rights Reserved.1Q4 FY26 Performance ReviewF E B R U A RY 2 6,2 0 2 6Copyright Dell Inc.All Rights Reserved.2DisclosuresSPIN-OFF OF VMWARE,INC.On November 1,2021,Dell Technologies Ipleted its spin-off of VMware,Inc.In accordance with applicable accounting guidance,the results

2、of VMware,Inc.,excluding Dells resale of VMware,Inc.offerings,have been presented as discontinued operations and therefore excluded from continuing operations for all periods prior to the spin-off.The results of Dells resale of VMware,Inc.s(now known as VMware LLC)standalone offerings are classified

3、 within Corporate and other,which does not meet the definition of a reportable segment.The Consolidated Statements of Cash Flows have not been recast to reflect the operating cash flows of VMware,Inc.as discontinued operations.Except as noted,this presentation is consistent with the foregoing accoun

4、ting guidance.NON-GAAP FINANCIAL MEASURES This presentation includes information about non-GAAP revenue,non-GAAP gross margin,non-GAAP operating expense,non-GAAP operating income,non-GAAP interest and other,net,non-GAAP income tax,non-GAAP net income,non-GAAP net income attributable to Dell Technolo

5、gies Inc.,non-GAAP earnings per share-basic and non-GAAP earnings per share-diluted,as well as adjusted EBITDA,free cash flow and adjusted free cash flow(collectively the“non-GAAP financial measures”),which are not measurements of financial performance prepared in accordance with U.S.generally accep

6、ted accounting principles.We have provided a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures in Appendix C and Appendix E.SPECIAL NOTE ON FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to future results and events are forward-lo