Broadcom — Mar 4, 2026 release

FINANCIAL RECONCILIATION: GAAP TO NON-GAAP — UNAUDITED (IN MILLIONS) Fiscal Quarter Ended February 1, 2026 November 2, 2025 February 2, 2025 Gross margin on GAAP basis $ 13,157  $ 12,249  $ 10,145  Amortization of acquisition-related intangible assets 1,462  1,545  1,484  Stock-based compensation expense 236  237  153  Restructuring charges 13  8  14  Gross margin on non-GAAP basis $ 14,868  $ 14,039  $ 11,796  Research and development on GAAP basis $ 2,965  $ 2,981  $ 2,253  Stock-based compensation expense 1,447  1,456  822  Research and development on non-GAAP basis $ 1,518  $ 1,525  $ 1,431  Selling, general and administrative expense on GAAP basis $ 1,019  $ 1,107  $ 949  Stock-based compensation expense 493  502  305  Acquisition-related costs 2  12  107  Selling, general and administrative expense on non-GAAP basis $ 524  $ 593  $ 537  Total operating expenses on GAAP basis $ 4,594  $ 4,741  $ 3,885  Amortization of acquisition-related intangible assets 507  507  511  Stock-based compensation expense 1,940  1,958  1,127  Restructuring and other charges 103  146  172  Acquisition-related costs 2  12  107  Total operating expenses on non-GAAP basis $ 2,042  $ 2,118  $ 1,968  Operating income on GAAP basis $ 8,563  $ 7,508  $ 6,260  Amortization of acquisition-related intangible assets 1,969  2,052  1,995  Stock-based compensation expense 2,176  2,195  1,280  Restructuring and other charges 116  154  186  Acquisition-related costs 2  12  107  Operating income on non-GAAP basis $ 12,826  $ 11,921  $ 9,828  Interest expense on GAAP basis $ (801) $ (761) $ (873) Loss on debt extinguishment 55  20  65  Interest expense on non-GAAP basis $ (746) $ (741) $ (808) Other income, net on GAAP basis $ 433  $ 122  $ 103  Excise tax benefit (315) —  —  (Gains) losses on investments —  (6) 4  Other —  —  (31) Other income, net on non-GAAP basis $ 118  $ 116  $ 76  Fiscal Quarter Ended February 1, 2026 November 2, 2025 February 2, 2025 Provision for (benefit from) income taxes on GAAP basis $ 846  $ (1,649) $ (13) Non-GAAP tax reconciling adjustments (1) 1,167  3,231  1,286  Provision for income taxes on non-GAAP basis $ 2,013  $ 1,582  $ 1,273  Net income on GAAP basis $ 7,349  $ 8,518  $ 5,503  Amortization of acquisition-related intangible assets 1,969  2,052  1,995  Stock-based compensation expense 2,176  2,195  1,280  Restructuring and other charges 116  154  186  Acquisition-related costs 2  12  107  Loss on debt extinguishment 55  20  65  Excise tax benefit (315) —  —  (Gains) losses on investments —  (6) 4  Other —  —  (31) Non-GAAP tax reconciling adjustments (1) (1,167) (3,231) (1,286) Net income on non-GAAP basis $ 10,185  $ 9,714  $ 7,823  Net income on GAAP basis $ 7,349  $ 8,518  $ 5,503  Non-GAAP Adjustments: Amortization of acquisition-related intangible assets 1,969  2,052  1,995  Stock-based compensation expense 2,176  2,195  1,280  Restructuring and other charges 116  154  186  Acquisition-related costs 2  12  107  Loss on debt extinguishment 55  20  65  Excise tax benefit (315) —  —  (Gains) losses on investments —  (6) 4  Other —  —  (31) Non-GAAP tax reconciling adjustments (1) (1,167) (3,231) (1,286) Other Adjustments: Interest expense 746  741  808  Provision for income taxes on non-GAAP basis 2,013  1,582  1,273  Depreciation 150  148  142  Amortization of purchased intangibles and right-of-use assets 34  33  37  Adjusted EBITDA $ 13,128  $ 12,218  $ 10,083  Weighted-average shares used in per share calculations - diluted on GAAP basis 4,888  4,889  4,836  Non-GAAP adjustment (2) 69  80  59  Weighted-average shares used in per share calculations - diluted on non-GAAP basis 4,957  4,969  4,895  Net cash provided by operating activities $ 8,260  $ 7,703  $ 6,113  Purchases of property, plant and equipment (250) (237) (100) Free cash flow $ 8,010  $ 7,466  $ 6,013   Fiscal Quarter Ending May 3, Expected average diluted share count (3) : 2026 Weighted-average shares used in per share calculation - diluted on GAAP basis 4,875  Non-GAAP adjustment (2) 69  Weighted-average shares used in per share calculation - diluted on non-GAAP basis 4,944  (1) For the fiscal quarter ended November 2, 2025, non-GAAP tax reconciling adjustments included a one-time discrete non-cash tax benefit of $2.1 billion from the impact of lapses of statutes of limitations. (2) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be used to repurchase shares under the GAAP treasury stock method. (3) Excludes the effects of potential share repurchases. BROADCOM INC. CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED (IN MILLIONS) February 1, 2026 November 2, 2025 ASSETS Current assets: Cash and cash equivalents $ 14,174  $ 16,178  Trade accounts receivable, net 8,460  7,145  Inventory 2,962  2,270  Other current assets 6,466  5,980  Total current assets 32,062  31,573  Long-term assets: Property, plant and equipment, net 2,599  2,530  Goodwill 97,801  97,801  Intangible assets, net 30,302  32,273  Other long-term as