VMware Inc. announced that October 29, 2021 has been set as the record date for VMware’s $11.5 billion, conditional special dividend payable pro-rata to all VMware stockholders. The Special Dividend is payable in connection with the closing of the transactions contemplated by that Separation and Distribution Agreement, both originally announced on April 14, 2021, pursuant to which VMware will be spun-off from Dell Technologies Inc. Payment of the Special Dividend remains subject to the Dividend Payment Conditions, as defined in the Separation and Distribution Agreement and described in VMware’s Current Reports on Form 8-K filed with the Securities and Exchange Commission on April 14, 2021 and October 7, 2021. The Special Dividend will be payable pro-rata to all VMware stockholders of record as of the close of business on the Record Date. VMware will announce the per share dividend amount following the end of trading on the New York Stock Exchange on the Record Date. Shareholders of record of Dell common stock that are entitled to receive the distribution of VMware Class A common stock as part of the Spin-off will not be entitled to the cash dividend. The payment date for the Special Dividend will be November 1, 2021, subject to satisfaction of the closing conditions. Shares of VMware Class A common stock will trade with due bills from October 28, 2021, through and including the Payment Date of November 1, 2021. The ex-dividend date will be November 2, 2021. VMware currently estimates that, for federal tax purposes, 39.49% of the Special Dividend will be treated as a taxable dividend, with the other 60.51% of the Special Dividend being first treated as a return on capital to stockholders to the extent of their basis in VMware common stock, and thereafter as capital gain.