Marvell Technology Investor Presentation — May 2020

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Marvell Technology Group Ltd.

First Quarter of Fiscal Year 2021

May 28, 2020© 2020 Marvell confidential. All rights reserved. 2Discussion of Non -GAAP Financial Measures

Non-GAAP financial measures exclude the effect of share- based compensation expense, amortization of the inventory fair value adj ustment

associated with the Aquantia and Avera acquisitions, amortization of acquired intangible assets, acquisition and divestiture- related costs,

restructuring and other related charges, resolution of legal matters, and certain expenses and benefits that are driven primaril y by discrete events

that management does not consider to be directly related to Marvell's core business.

Marvell uses a non- GAAP tax rate to compute the non- GAAP tax provision. This non- GAAP tax rate is based on Marvell's estimated annual GAAP

income tax forecast, adjusted to account for items excluded from GAAP income in calculating Marvell's non- GAAP income, as well as the effects of

significant non- recurring and period specific tax items which vary in size and frequency. Marvell's non- GAAP tax rate is determi ned on an annual

basis and may be adjusted during the year to take into account events that may materially affect the non- GAAP tax rate such as t ax law changes;

significant changes in Marvell's geographic mix of revenue and expenses; or changes to Marvell's corporate structure. For the first quarter of fiscal

2021, a non- GAAP tax rate of 5.0% has been applied to the non- GAAP financial results.

Marvell believes that the presentation of non- GAAP financial measures provides important supplemental information to management and investors

regarding financial and business trends relating to Marvell's financial condition and results of operations. While Marvell us es non-GAAP financial