Exhibit 99.1

UNAUDITED ATTRIBUTED FINANCIAL INFORMATION
FOR CLASS V GROUP
(continued on next page)

The information presented below is intended solely to show the attribution of assets, liabilities, revenue, and expenses to the Class V Group in accordance with the Tracking Stock Policy of Dell Technologies Inc. (“Dell Technologies” or the “Company”), a copy of which is filed as Exhibit 99.2 to the Company’s Annual Report on Form 10-K for the fiscal year ended February 3, 2017. The individual income and expense line item amounts reflected in the column for VMware, Inc. (“VMware”) are for informational purposes and do not represent actual income and expenses of the Class V Group. The Class V stockholders do not have any special rights related to, direct ownership interest in, or recourse against the assets and liabilities attributed to the Class V Group. Holders of the DHI Group Common Stock and the Class V Common Stock are stockholders of the Company and subject to all risks associated with an investment in the Company and all of its businesses, assets, and liabilities. This financial information could change in the future based on allocations or reallocations of assets and liabilities to the Class V Group.
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2018
 
November 2, 2018
 
VMware Reportable Segment
 
Adjustments and Eliminations (a)
 
VMware
 
VMware Reportable Segment
 
Adjustments and Eliminations (a)
 
VMware
 
(in millions)
Net revenue
$
2,229

 
$
(29
)
 
$
2,200

 
$
6,451

 
$
(68
)
 
$
6,383

Cost of net revenue
272

 
43

 
315

 
791

 
125

 
916

Gross margin
1,957

 
(72
)
 
1,885

 
5,660

 
(193
)
 
5,467

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
Selling, general, and administrative
788

 
103

 
891

 
2,380

 
268

 
2,648

Research and development
401

 
98

 
499

 
1,163

 
270

 
1,433

Total operating expenses
1,189

 
201

 
1,390

 
3,543

 
538

 
4,081

Operating income (loss)
$
768

 
$
(273
)
 
$
495

 
$
2,117

 
$
(731
)
 
$
1,386

Interest and other income (expense), net attributable to VMware
 
 
 
 
(150
)
 
 
 
 
 
906

Income before income taxes attributable to VMware
 
 
 
 
345

 
 
 
 
 
2,292

Income tax provision attributable to VMware
 
 
 
 
11

 
 
 
 
 
372

Net income attributable to VMware
 
 
 
 
$
334

 
 
 
 
 
$
1,920

____________________
(a)
Adjustments and eliminations primarily consist of intercompany sales and allocated expenses, as well as expenses that are excluded from the VMware reportable segment, such as amortization of intangible assets, stock-based compensation expense, severance, and integration and acquisition-related costs.


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UNAUDITED ATTRIBUTED FINANCIAL INFORMATION
FOR CLASS V GROUP
(continued on next page)

Reconciliation of net income attributable to VMware to Class V Common Stock economic interest in Class V Group:
 
Three Months Ended
 
Nine Months Ended
 
November 2, 2018
 
November 2, 2018
 
(in millions)
Net income attributable to VMware
$
334

 
$
1,920

Less: Net income attributable to non-controlling interests
(64
)
 
(357
)
Net income attributable to Class V Group
270

 
1,563

Less: DHI Group's 38.90% weighted average retained interest in Class V Group
(105
)
 
(608
)
Class V Common Stock economic interest in Class V Group
$
165

 
$
955



Reconciliation of VMware total net assets to Class V Common Stock economic interest in Class V Group:
 
 
VMware
 
 
November 2, 2018
 
 
(in millions)
VMware balance sheet information
 
 
Total assets (1)(2)
 
$
23,962

Total liabilities (1)(2)
 
13,051

VMware total net assets
 
$
10,911

 
 
 
 
 
Class V Group
 
 
November 2, 2018
 
 
(in millions)
VMware total net assets
 
$
10,911

Less: Net assets attributable to non-controlling interests (3)
(2,108
)
Net assets attributable to Class V Group
 
8,803

Less: DHI Group's 38.90% retained interest in Class V Group
(3,425
)
Class V Common Stock economic interest in Class V Group
$
5,378

 
 
 
Inter-group assets (4)
 
$
—

Inter-group liabilities (4)
 
$
—

____________________
(1)
Represents VMware's unadjusted assets and liabilities as of November 2, 2018 as consolidated into the Company’s Consolidated Statements of Financial Position.
(2)
As determined by Dell Technologies’ board of directors, the Company has not allocated any assets or liabilities between the DHI Group and the Class V Group.
(3)
Reflects the impact of non-controlling interests on net assets attributable to the Company, which had an ownership interest of approximately 80.7% of VMware’s outstanding shares of common stock as of November 2, 2018.
(4)
Represents inter-group assets/liabilities between the Class V Group and the DHI Group in accordance with the Tracking Stock Policy. The Tracking Stock Policy states that any ordinary course commercial inter-group transactions are intended, to the extent practicable, to be on terms consistent with terms that would be applicable to arm's-length dealings with unrelated third parties.





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UNAUDITED ATTRIBUTED FINANCIAL INFORMATION
FOR CLASS V GROUP
(continued on next page)

The adoption of the new revenue accounting standard during the three months ended May 4, 2018 impacted the previously reported results of the VMware reportable segment and the standalone results of VMware, Inc. Presented below is the Unaudited Attributed Financial Information for Class V Group for the three months ended and nine months ended November 3, 2017 and as of February 2, 2018 that has been recast to reflect the retrospective adoption of the new accounting standard.

 
Three Months Ended
 
Nine Months Ended
 
November 3, 2017
 
November 3, 2017
 
VMware Reportable Segment
 
Adjustments and Eliminations (a)
 
VMware
 
VMware Reportable Segment
 
Adjustments and Eliminations (a)
 
VMware
 
(in millions)
Net revenue
$
1,933

 
$
5

 
$
1,938

 
$
5,735

 
$
(99
)
 
$
5,636

Cost of net revenue
246

 
32

 
278

 
730

 
107

 
837

Gross margin
1,687

 
(27
)
 
1,660

 
5,005

 
(206
)
 
4,799

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
Selling, general, and administrative
702

 
99

 
801

 
2,006

 
399

 
2,405

Research and development
351

 
98

 
449

 
1,026

 
272

 
1,298

Total operating expenses
1,053

 
197

 
1,250

 
3,032

 
671

 
3,703

Operating income (loss)
$
634

 
$
(224
)
 
$
410

 
$
1,973

 
$
(877
)
 
$
1,096

Interest and other income (expense), net attributable to VMware
 
 
 
 
3

 
 
 
 
 
92

Income before income taxes attributable to VMware
 
 
 
 
413

 
 
 
 
 
1,188

Income tax provision attributable to VMware
 
 
 
 
18

 
 
 
 
 
143

Net income attributable to VMware
 
 
 
 
$
395

 
 
 
 
 
$
1,045

____________________
(a)
Adjustments and eliminations primarily consist of intercompany sales and allocated expenses, as well as expenses that are excluded from the VMware reportable segment, such as amortization of intangible assets, stock-based compensation expense, severance, and integration and acquisition-related costs.















3


UNAUDITED ATTRIBUTED FINANCIAL INFORMATION
FOR CLASS V GROUP
(continued)

Reconciliation of net income attributable to VMware to Class V Common Stock economic interest in Class V Group:
 
Three Months Ended
 
Nine Months Ended
 
November 3, 2017
 
November 3, 2017
 
(in millions)
Net income attributable to VMware
$
395

 
$
1,045

Less: Net income attributable to non-controlling interests
(73
)
 
(191
)
Net income attributable to Class V Group
322

 
854

Less: DHI Group's 38.55% weighted average retained interest in Class V Group
(124
)
 
(328
)
Class V Common Stock economic interest in Class V Group
$
198

 
$
526



Reconciliation of VMware total net assets to Class V Common Stock economic interest in Class V Group:
 
 
VMware
 
 
February 2, 2018
 
 
(in millions)
VMware balance sheet information
 
 
Total assets (1)(2)
 
$
21,206

Total liabilities (1)(2)
 
12,582

VMware total net assets
 
$
8,624

 
 
 
 
 
Class V Group
 
 
February 2, 2018
 
 
(in millions)
VMware total net assets
 
$
8,624

Less: Net assets attributable to non-controlling interests (3)
(1,561
)
Net assets attributable to Class V Group
 
7,063

Less: DHI Group's 38.90% retained interest in Class V Group
(2,748
)
Class V Common Stock economic interest in Class V Group
$
4,315

 
 
 
Inter-group assets (4)
 
$
—

Inter-group liabilities (4)
 
$
—

____________________
(1)
Represents VMware's unadjusted assets and liabilities as of February 2, 2018 as consolidated into the Company’s Consolidated Statements of Financial Position.
(2)
As determined by Dell Technologies’ board of directors, the Company has not allocated any assets or liabilities between the DHI Group and the Class V Group.
(3)
Reflects the impact of non-controlling interests on net assets attributable to the Company, which had an ownership interest of approximately 81.9% of VMware’s outstanding shares of common stock as of February 2, 2018.
(4)
Represents inter-group assets/liabilities between the Class V Group and the DHI Group in accordance with the Tracking Stock Policy. The Tracking Stock Policy states that any ordinary course commercial inter-group transactions are intended, to the extent practicable, to be on terms consistent with terms that would be applicable to arm’s-length dealings with unrelated third parties.

4