DELLDell Technologies

1 paragraph in Risk Factors of the 10-K filed Mar 16, 2026 with nothing like it in the 10-K filed Mar 25, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.

Compared with the Risk Factors in the latest 10-K of the other 74 Technology companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.

Although our Board of Directors has adopted a stock repurchase program, we are not obligated to repurchase any specific amount of shares of common stock, and the stock repurchase program may be suspended or terminated at any time. The amount, timing, and execution of our stock repurchase program may fluctuate, and changes in cash flows, tax laws, and our stock price could also impact our stock repurchase program.

Similar paragraph at 4 of 74 other Technology companies: AVGO, INTU, ON, PANW

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New in the latest 10-Q

33 paragraphs in the 10-Q filed Sep 8, 2026 with nothing like them in the 10-Q filed Jun 9, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.

Financial statements and notes

Adjustments to reconcile net income to net cash provided by operating activities:

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Effect of exchange rate changes on cash, cash equivalents, and restricted cash (35) 104

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Cash, cash equivalents, and restricted cash at beginning of the period 11,706 3,819

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Cash, cash equivalents, and restricted cash at end of the period $ 11,737 $ 8,291

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Dell Technologies Inc. was incorporated in Delaware in January 2013. Following approval by the Company’s shareholders at its 2026 annual meeting of shareholders, Dell Technologies Inc. changed its jurisdiction of incorporation from Delaware to Texas effective July 1, 2026 pursuant to a plan of conversion.

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Net unrealized gains (losses) on equity and other securities $ 1 $ (17) $ 632 $ (2)

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During the six months ended July 31, 2026 and August 1, 2025, cash paid for amounts included in the measurement of lease liabilities and right-of-use assets obtained in exchange for new operating lease liabilities were immaterial.

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The Company completed the following transactions during the six months ended July 31, 2026:

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Total interest expense related to the Company’s outstanding debt was $0.4 billion for both the three months ended July 31, 2026 and August 1, 2025, and $0.8 billion for both the six months ended July 31, 2026 and August 1, 2025, and is recorded as interest and other, net in the Condensed Consolidated Statements of Income.

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Gains (losses) of derivative instruments not designated as hedging instruments were immaterial for the three and six months ended July 31, 2026 and August 1, 2025 and are recorded as interest and other, net in the Condensed Consolidated Statements of Income.

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July 31, 2026 Gross Amounts of Recognized Assets/(Liabilities) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position Gross Amounts not Offset in the Statement of Financial Position Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── Financial Instruments Cash Collateral Received or Pledged (in millions) Financial assets $ 397 $ (264) $133 $ $ (32) $ 101 Financial liabilities (356) 264 (92) — 1 (91) Total derivative instruments $ 41 $ — $41 $ $ (31) $ 10 January 30, 2026 Gross Amounts of Recognized Assets/(Liabilities) Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets/(Liabilities) Presented in the Statement of Financial Position Gross Amounts not Offset in the Statement of Financial Position Net Amount of Assets/ (Liabilities) Recognized in the Statement of Financial Position Financial Instruments Cash Collateral Received or Pledged (in millions) Financial assets $ 492 $ (332) $160 $ $ (46) $ 114 Financial liabilities (458) 332 (126) — 1 (125) Total derivative instruments $ 34 $ — $34 $ $ (45) $ (11)

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The Company utilizes a limited number of contract manufacturers that assemble a portion of its products. The Company purchases components from suppliers and sells those components to such contract manufacturers. The Company reflects the sale of the components by recognizing non-trade receivables from the contract manufacturers and a reduction in inventory when title and risk of loss pass to the contract manufacturer. Cash flows related to these transactions are recorded within cash flows from operating activities. The Company does not reflect the sale of the components in revenue and does not recognize any profit on the component sales until the Company sells the related products to the customer after purchasing such products from the contract manufacturers. The agreements with the majority of the contract manufacturers permit the Company to offset its payables against the receivables, thereby mitigating the credit risk in whole or in part.

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In the ordinary course of business, certain contract manufacturers may purchase components directly from a supplier, and the Company may issue financial guarantees to a supplier in connection with the purchases by such a contract manufacturer. In the event any such contract manufacturers fail to pay a supplier pursuant to the payment terms of the underlying agreements between the contract manufacturer and supplier, the Company in some circumstances would be obligated to make payments to such supplier under its financial guarantee and would have full recourse against such contract manufacturer for the amount of such payments.

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As the Company largely offsets its corresponding payables against receivables with these contract manufacturers and is entitled to full recourse against the applicable contract manufacturers in the event the Company is obligated to make payments to a supplier under a financial guarantee, the Company’s payables and receivables in the Consolidated Statements of Financial Position are not materially impacted by the guarantees. As of July 31, 2026, the Company’s maximum potential future payments under the financial guarantees is $ 8.6 billion, which the Company would have recourse to recover in full from the applicable contract manufacturers. The Company believes the likelihood of having to perform under the guarantees is remote.

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Share sales and buybacks

During July 2026, the Company issued 716,173 shares of Class C Common Stock to shareholders upon the conversion of the same number of shares of our Class B Common Stock held by and at the election of such shareholders in accordance with our certificate of formation. The issuance of the Class C Common Stock in this transaction was made in reliance on the exemption from registration under the Securities Act afforded by Section 3(a)(9) thereof. No commission or other remuneration was paid or given directly or indirectly for soliciting the exchange of these securities.

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Item 6

2.1 Plan of Conversion (incorporated by reference to Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Commission on July 1, 2026) (Commission File No. 001-37867)

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3.1 Certificate of Formation of Dell Technologies Inc. (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the Commission on July 1, 2026) (Commission File No. 001-37867)

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4.1† Consent to the Extension of Registration Rights Under the Second Amended and Restated Registration Rights Agreement, dated June 10, 2026, among Dell Technologies Inc. and SL SPV-2 L.P., Silver Lake Partners IV, L.P., Silver Lake Technology Investors IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors V, L.P.

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4.2 2031 Notes Supplemental Indenture No. 1, dated as of June 16, 2026, among Dell International L.L.C., EMC Corporation, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee (incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the Commission on June 16, 2026) (Commission File No. 001-37867)

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4.3 2034 Notes Supplemental Indenture No. 1, dated as of June 16, 2026, among Dell International L.L.C., EMC Corporation, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee (incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the Commission on June 16, 2026) (Commission File No. 001-37867)

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4.4 2037 Notes Supplemental Indenture No. 1, dated as of June 16, 2026, among Dell International L.L.C., EMC Corporation, the guarantors party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee (incorporated by reference to Exhibit 4.3 to the Company’s Current Report on Form 8-K filed with the Commission on June 16, 2026) (Commission File No. 001-37867)

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4.5 Form of Global Note for 4.750% Senior Notes due 2031 (included in Exhibit 4.2)

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4.6 Form of Global Note for 5.000% Senior Notes due 2034 (included in Exhibit 4.3)

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4.7 Form of Global Note for 5.250% Senior Notes due 2037 (included in Exhibit 4.4)

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10.1 Credit Agreement, dated as of June 10, 2026, among Dell Technologies Inc., Denali Intermediate Inc., Dell Inc., Dell International L.L.C., as a borrower, EMC Corporation, as a borrower and JPMorgan Chase Bank, N.A., as administrative agent, and each of the lenders and other parties from time to time party thereto (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Commission on June 10, 2026) (Commission File No. 001-37867)

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10.2† Amended and Restated MD Shareholders Agreement, dated as of July 2, 2026, by and among Dell Technologies Inc., Denali Intermediate Inc., Dell Inc., Dell International L.L.C., EMC Corporation, Michael S. Dell and the Susan Lieberman Dell Separate Property Trust

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10.3† Amended and Restated SLP Shareholders Agreement, dated as of July 2, 2026, by and among Dell Technologies Inc., Denali Intermediate Inc., Dell Inc., Dell International L.L.C., EMC Corporation, SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Technology Investors IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors V, L.P. and the other shareholders named therein

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10.4†* Form of Indemnification Agreement between Dell Technologies Inc. and certain members of its Board of Directors

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10.5†* Form of Indemnification Agreement between Dell Technologies Inc. and certain of its executive officers

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31.1† Certification of Michael S. Dell, Chairman and Chief Executive Officer, pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

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31.2† Certification of David Kennedy, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(a) or Rule 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

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32.1†† Certifications of Michael S. Dell, Chairman and Chief Executive Officer, and David Kennedy, Executive Vice President and Chief Financial Officer, pursuant to Rule 13a-14(b) or Rule 15d-14(b) under the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

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101. INS† XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document 101. SCH† Inline XBRL Taxonomy Extension Schema Document 101. CAL† Inline XBRL Taxonomy Extension Calculation Linkbase Document 101. DEF† Inline XBRL Taxonomy Extension Definition Linkbase Document 101. LAB† Inline XBRL Taxonomy Extension Label Linkbase Document 101. PRE† Inline XBRL Taxonomy Extension Presentation Linkbase Document 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document (included in Exhibit 101)

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The 10-Q's risk factors against the 10-K

Item 1A of the 10-Q filed Sep 8, 2026 against Item 1A of the 10-K filed Mar 16, 2026. A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed. Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed, Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal (cut words struck through, new words highlighted and underlined). Text on the page, not a score; each links to the filing at sec.gov.

1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.