Slide 1: Fourth Quarter and Full Year 2021 Earnings Presentation
Fourth Quarter and Full Year 2021 Earnings Presentation February 1 2022
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: Full Year 2021 Highlights
Full Year 2021 Highlights Winning Now, Winning Later • Capitalized on continued strength in electronics and recovering industrial end-markets, despite ongoing supply chain challenges • Refined operating system and increased internal and external investment to accelerate future growth outlook Deliver
Slide 4: Fourth Quarter 2021 Financial Results
Fourth Quarter 2021 Financial Results Constant Currency* Organic* ($ in millions) Q4 2021 Q4 2020 YoY YoY YoY Net Sales $647 $537 21% 22% 2% Electronics 400 343 16% 17% 1% Industrial & Specialty 247 193 28% 31% 4% GAAP Diluted EPS $0.02 $0.12 Adj. EBITDA* $122 $126 (3%) (2%) % margin 18.9% 23.5% (46
Slide 5: Full Year 2021 Financial Results
Full Year 2021 Financial Results Constant Currency* Organic* ($ in millions) FY 2021 FY 2020 YoY YoY YoY Net Sales $2,400 $1,854 29% 26% 13% Electronics 1,534 1,172 31% 27% 13% Industrial & Specialty 866 682 27% 25% 13% GAAP Diluted EPS $0.82 $0.31 Adj. EBITDA* $525 $423 24% 20% % margin 21.9% 22.8%
Slide 6: Full Year 2021 Segment Details
Full Year 2021 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Strong demand from power electronics customers, recovery from prior year production Assembly $824 15% slowdowns in general automotive and strength in telecommunications Circuitry $455 10% Robust demand i
Slide 7: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management • FY 2021 free cash flow* of $280 million • Net debt to adj. EBITDA ratio* of 3.0x on a LTM basis as of December 31, 2021 o Q4 2021 free cash flow* of $103 million • Net debt to adj. EBITDA ratio* of 2.9x1 includ
Slide 8: Full Year 2022 Financial Guidance
Full Year 2022 Financial Guidance As of February 2022 FY Adj. $575 million to $590 million EBITDA* (13-16% constant currency growth) FY Adjusted $1.55 - $1.60 EPS* (12-16% growth) Free Cash Flow* $310 million - $325 million • Expect Q1 2022 adjusted EBITDA* approximately flat YoY at constant currenc
Slide 9: Appendix
Appendix 9
Slide 10: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) FY 2021 FY 2020 Q4 2021 Q4 2020 (Average) (Average) Basic common shares outstanding 247 247 247 248 Number of shares issuable upon vesting of granted Equity Awards 1 5 3 4 3 Adjusted common shares outstanding 251 250 251 251 Note: Totals
Slide 11: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Net income attributable to common stockholders $82 $81 $36 $4 $203 Add (subtract): Net income (loss) attributable to the non-controlling interests 0 0 (0) 1 0 (Income) lo
Slide 12: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Net income attributable to common stockholders $9 $1 $36 $30 $76 Add (subtract): (Income) loss from discontinued operations, net of tax (0) 1 0 — 1 Income tax expense (be
Slide 13: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q4 2021 Q4 2020 FY 2021 FY 2020 Net income attributable to common stockholders $4 $30 $203 $76 Net (loss) income from discontinued operations attributable to common stockholders (2) — 0 (1) Net income from
Slide 14: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended December 31, 2021 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics 16% 0% 17% (12)% (3)% 1% Industrial & Specialty 28% 3% 31% —% (27)% 4%
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation (dollars in millions) Q4 2021 Q4 2020 2021 2020 Cash flows from operating activities $121 $82 $326 $276 Capital expenditures (19) (7) (46) (29) Disposal of property, plant and equipment — — — 2 Free cash flows $103 $75 $280 $249 Note: Totals may not sum due to rounding
Slide 16: 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-perio