Marvell Technology, Inc.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

There were no sales of unregistered equity securities during the three months ended November 1, 2025.

Issuer Purchases of Equity Securities

The following table presents details of our stock repurchases during the three months ended November 1, 2025 (in millions, except per share data):

(1)The monthly periods presented above for the three months ended November 1, 2025, are based on our fiscal accounting periods which follow a quarterly 4-4-5 week fiscal accounting period.

(2)On November 17, 2016, we announced that our Board of Directors had authorized a $1.0 billion stock repurchase plan with no fixed expiration. On October 16, 2018, we announced that our Board of Directors authorized a $700.0 million addition to the balance of our existing stock repurchase plan. On March 7, 2024, we announced that our Board of Directors authorized a $3.0 billion addition to the balance of our existing stock repurchase program. On September 24, 2025, we announced that our Board of Directors authorized a $5.0 billion addition to the balance of our existing stock repurchase program. Our existing stock repurchase program had approximately $5.7 billion of repurchase authority remaining as of November 1, 2025.We intend to effect stock repurchases in accordance with the conditions of Rule 10b-18 under the Exchange Act, but may also make repurchases in the open market outside of Rule 10b-18 or in privately negotiated transactions. The stock repurchase program will be subject to market conditions and other factors and does not obligate us to repurchase any dollar amount or number of shares of our common stock and the repurchase program may be extended, modified, suspended or discontinued at any time.

(3)On September 24, 2025, pursuant to the ASR Agreement, we made an upfront payment of $1.0 billion and received initial delivery of approximately 10.7 million shares of our common stock, which represented a portion of the prepayment amount. The final number of shares to be delivered upon settlement of the ASR Agreement will be based on the volume-weighted average price of our common stock during the term, less an agreed-upon discount. Subsequent to quarter end, the ASR Agreement was partially settled, and we received an additional delivery of 0.5 million shares.