Slide 1: Second Quarter 2025 Earnings Presentation
Second Quarter 2025 Earnings Presentation Enabling Technology. Growing Sustainably.
Slide 2: Legal Notices
Legal Notices SAFE HARBOR Please note that in this presentation, we may discuss events or results that have not yet occurred or been realized, commonly referred to as forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statement
Slide 3: Second Quarter 2025 Financial Results
Second Quarter 2025 Financial Results Constant Currency* Organic* ($ in millions) Q2 2025 Q2 2024 YoY YoY YoY Net Sales $625 $613 2% 1% 6% Electronics 439 392 12% 11% 9% Industrial & Specialty 186 221 (16)% (16)% 1% GAAP Diluted EPS $0.20 $0.38 Adj. EBITDA* $136 $135 1% 0% % margin 21.7% 22.1% (40)
Slide 4: Second Quarter 2025 Segment Details
Second Quarter 2025 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $221 7% Strength in high-performance-computing and telecom infrastructure end markets Circuitry $131 5% Growth from continued AI / datacenter investment Semiconductor $88 20% Strong growth
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q2 2025 adjusted free cash flow* of $59 million ▪ Net debt to adj. EBITDA ratio* of 2.1x on an LTM basis as of June 30, 2025 o Working capital investment of $35 million driven by o Capital structure is fully fi
Slide 6: Full Year 2025 Financial Guidance
Full Year 2025 Financial Guidance Updated as of July 2025 FY Adj. EBITDA* $530 million to $550 million FY Adjusted EPS* Approximately $1.45 FY Free Cash Flow* Similar FCF conversion as prior year ▪ Expect Q3 Adj. EBITDA* in the range of $140 million to $145 million ▪ Expect high-single-digit million
Slide 7: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q2 2025 Q2 2024 Basic common shares outstanding 242 242 Number of shares issuable upon vesting of granted Equity Awards 1 2 2 Adjusted common shares outstanding 244 245 Note: Totals may not sum due to rounding 1. Equity awards with target
Slide 9: Net Income Reconciliation to Adjusted EBITDA
Net Income Reconciliation to Adjusted EBITDA ($ millions) Q2 2025 Q2 2024 Net income $48 $93 Add (subtract): Income from discontinued operations, net of tax — (2) Income tax expense (benefit) 16 (18) Interest expense, net 13 14 Depreciation expense 10 10 Amortization expense 29 30 EBITDA 114 129 Adj
Slide 10: Net Income Reconciliation to Adjusted EPS
Net Income Reconciliation to Adjusted EPS ($ millions, except per share amounts) Q2 2025 Q2 2024 Net income $48 $93 Income from discontinued operations, net of tax — (2) Net income attributable to non-controlling interests (0) (0) Reversal of amortization expense 29 30 Adjustment to reverse incremen
Slide 11: Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q2 YTD 2025 Q3 2024 Q4 2024 2025 Net income $146 $40 $55 $241 Add (subtract): Income tax expense 34 37 12 82 Interest expense, net 27 14 14 55 Depreciation expense 20 10 10 39 Amortization expense 56 2
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended June 30, 2025 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Divestitures Sales Growth Currency Growth Pricing Electronics 12% (1)% 11% (3)% —% 9% Industrial & Specialty (16)% 0% (16)% —% 17% 1% Tot
Slide 13: Free Cash Flow and Adjusted Free Cash Flow Reconciliation
Free Cash Flow and Adjusted Free Cash Flow Reconciliation ($ millions) Q2 2025 Q2 2024 Cash flows from operating activities $73 $67 Capital expenditures (18) (15) Proceeds from disposal of property, plant and equipment 1 — Adjustments 3 Free cash flow $59 $52 Note: Totals may not sum due to rounding
Slide 14: Non-GAAP Definitions
Non-GAAP Definitions Adjusted Earnings Per Share (EPS): Adjusted EPS is a key metric used by management to measure operating performance and trends as management believes the exclusion of certain expenses in calculating adjusted EPS facilitates operating performance comparisons on a period-to-period