Slide 1: Fiscal second quarter 2024 highlights
Fiscal second quarter 2024 highlights April 25, 2024
Slide 2: Safe harbor and fair disclosure statement
PLEXUS CORP. Safe harbor and fair disclosure statement Some of the statements made and information provided during our call as well as information included in the supporting materials will be forward looking statements, including, without limitation, those regarding revenue, gross margin, selling an
Slide 3: Fiscal second quarter themes
PLEXUS CORP. F I S C A L S E C O ND Q UA R T E R T H E M E S Sustained strong Continue to target 5.5% Robust Q2F24 free cash quarterly wins support GAAP operating margin, flow generation. outlook for continued >6% non-GAAP operating Increasing F24 free cash market outgrowth margin in Fiscal 2025 flo
Slide 4: Fiscal second quarter financial results
PLEXUS CORP. Fiscal second quarter financial results Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 5.9% 5.8% 1,100 1,071 6.0% 5.4% 0.6% 5.1% 4.9% 1,022 1,024 0.6% 5.0% 0.4% 983 967 0.5% 1,000 0.7% 4.0% 900 3.0% 5.3% 5.0% 5.2% 800 4.6% 4.2% * 2.0% 700 1.0% 0.0% 600 Q2 F23 Q3 F23 Q4 F23
Slide 5: Wins and funnel highlights
PLEXUS CORP. Wins and funnel highlights Wins ($ millions) Funnel ($ millions) 350 321 4,500 4,216 3,979 4,003 4,000 3,672 300 275 3,544 261 255 3,500 250 3,000 200 192 2,500 150 2,000 1,500 100 1,000 50 500 - - Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 • 32 new manufacturing progra
Slide 6: Q2F24 Highlights: Sustainable & responsible business practices
S U S TA I N A B L E & R E S P O N S I B L E B U S I N E S S P R A C T I C E S Q2F24 Highlights • J o i n e d t h e U N G l o b a l C o m p a c t ’s C l i m a t e Ambition Accelerator • Delivered upon fiscal 2024 initiative to assess the environmental and social impact of top 100 suppliers • F i n a
Slide 7: Fiscal 2024 third quarter guidance
PLEXUS CORP. Fiscal 2024 third quarter guidance Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 5.8% 6.0% 5.4% 1,100 5.4% 5.1% 4.9% 0.6% 1,022 1,024 5.0% 0.4% 0.6% 0.5% 983 967 980 0.7% 1,000 4.0% 900 3.0% 5.0% 5.2% 4.8% ** 4.6% 4.2% 800 2.0% 1.0% 700 0.0% 600 Q3 F23 Q4 F23 Q1 F24 Q2 F24
Slide 8: Market sector performance - Industrial
PLEXUS CORP. Market sector performance - Industrial Revenue ($ millions) Wins ($ millions) 600 250 Q2F24 vs. 500 Q1F24 193 439 428 435 200 417 418 400 - 4% 150 142 125 300 104 100 200 Q3F24 Expectations 52 50 100 Flat - - Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 • Q2F24 met expect
Slide 9: Market sector performance – Healthcare/Life Sciences
PLEXUS CORP. Market sector performance – Healthcare/Life Sciences Revenue ($ millions) Wins ($ millions) 600 120 113 Q2F24 vs. 109 104 488 Q1F24 500 451 449 100 90 81 400 381 379 - 1% 80 300 60 200 Q3F24 40 Expectations 100 20 Flat - - Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 • Q2
Slide 10: Market sector performance – Aerospace/Defense
PLEXUS CORP. Market sector performance – Aerospace/Defense Revenue ($ millions) Wins ($ millions) 200 60 167 170 Q2F24 vs. 52 158 Q1F24 50 144 143 42 150 40 38 + 2% 36 100 30 23 Q3F24 20 50 Expectations 10 Up high single - - Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 • Q2F24 beat ex
Slide 11: Regional manufacturing wins trends
PLEXUS CORP. Regional manufacturing wins trends Wins ($ millions) 350 321 300 275 261 255 EMEA 250 $41M 192 200 AMER Q2F24 $120M 150 APAC 100 $94M 50 - Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 AMER APAC EMEA Strong Q2F24 manufacturing wins of $255M 11
Slide 12: Qualified manufacturing funnel trends
PLEXUS CORP. Qualified manufacturing funnel trends Funnel ($ millions) 5,000 4,500 4,216 3,979 4,003 4,000 3,672 3,544 3,500 3,000 2,500 2,000 1,500 1,000 500 - Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Industrial Healthcare/Life Sciences Aerospace/Defense Significant opportunities in unqualified, early stage f
Slide 13: Income statement
PLEXUS CORP. Income statement Q2F23 Q1F24 Q2F24 Actual Q2F24 Guidance Revenue $1.07 billion $983 million $967 million $930 million to $970 million Gross margin 9.6% 9.0% 9.1% 8.8% to 9.2% Selling & administrative expenses $46.1 million $43.0 million $47.6 million $46.5 to $47.5 million GAAP operatin
Slide 14: Cash flow and balance sheet
PLEXUS CORP. Cash flow and balance sheet Q2F23 Q1F24 Q2F24 Free cash flow $79.6 million ($31.7) million $64.9 million Share repurchases $12.4 million $0 $17.6 million Cash balance $270 million $232 million $265 million Total debt $483 million $443 million $438 million Return on invested capital 13.8
Slide 15: Working capital trends
PLEXUS CORP. Working capital trends 100 95 90 91 90 87 83 Net Cash Cycle Days 80 70 60 50 40 Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Q2F23 Q3F23 Q4F23 Q1F24 Q2F24 Days in Accounts Receivable 56 63 59 61 61 Days in Contract Assets 11 12 13 12 12 Days in Inventory 156 161 154 161 158 Days in Accounts Payable 69
Slide 16: Fiscal third quarter 2024 guidance
PLEXUS CORP. Fiscal third quarter 2024 guidance Q3F23 Q2F24 Q3F24 Guidance Revenue $1.02 billion $967 million $960 million to $1.0 billion GAAP diluted EPS $0.56 $0.58 $0.80 to $0.95 Non-GAAP diluted EPS * $1.46 $1.19 $1.22 to $1.37 Gross margin 9.2% 9.1% 9.3% to 9.7% Selling & administrative expens
Slide 17: Q&A Thank you.
Q&A Thank you. PLEXUS | EO _—— oe