Slide 1: Third Quarter 2021 Earnings Presentation
Third Quarter 2021 Earnings Presentation 1 October 2021
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: Third Quarter 2021 Financial Results
Third Quarter 2021 Financial Results Constant Currency* Organic* ($ in millions) Q3 2021 Q3 2020 YoY YoY YoY Net Sales $616 $478 29% 26% 13% Electronics 399 307 30% 27% 11% Industrial & Specialty 218 171 27% 25% 15% GAAP Diluted EPS $0.15 $0.15 Adj. EBITDA* $132 $102 29% 25% % margin 21.3% 21.3% 0 b
Slide 4: Third Quarter 2021 Segment Details
Third Quarter 2021 Segment Details Market Commentary Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $213 10% Growth in power electronics for EV customers, persisting strong demand from electronics hardware assembly customers in China Circuitry $119 14% Strong commercial e
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q3 2021 free cash flow* of $81 million and YTD of $177 ▪ Net debt to adj. EBITDA ratio* of 3.1x on a LTM basis as million of September 30, 2021 ▪ Closed $400 million add-on to 2026 TLB to partially finance ▪ ~$
Slide 6: Full-Year 2021 Financial Guidance
Full-Year 2021 Financial Guidance Updated as of October 2021 $515M to $525M FY Adj. EBITDA* +20% growth FY Adjusted Greater than $1.35 EPS* +40% growth FY Free Cash Flow* At least $265M ▪ Full-year guidance assumes Q4 2021 adj. EBITDA* of ~$118 million: ▪ Expect fourth quarter adj. EBITDA* contribut
Slide 7: Appendix
Appendix 7
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q3 2021 Q3 2020 Common shares outstanding 248 249 Number of shares issuable upon vesting of granted Equity Awards 1 5 3 Adjusted common shares outstanding 252 252 Note: Totals may not sum due to rounding 1. Equity awards with targets that
Slide 9: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q3 2021 Q3 2020 Net income attributable to common stockholders $36 $36 Add (subtract): Net loss attributable to the non-controlling interests 0 — Loss from discontinued operations, net of tax — 0 Income tax exp
Slide 10: Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q3 YTD 2021 Q4 2020 2021 Net income attributable to common stockholders $199 $30 $229 Add (subtract): Net loss attributable to the non-controlling interests 0 — 0 Income from discontinued operations, net o
Slide 11: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q3 2021 Q3 2020 Net income attributable to common stockholders $36 $36 Net loss from discontinued operations attributable to common stockholders — 0 Net income from continuing operations attributable to com
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended September 30, 2021 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics 30% (3)% 27% (12)% (3)% 11% Industrial & Specialty 27% (2)% 25% —% (10
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation (dollars in millions) Q3 2021 Q3 2020 YTD 2021 Cash flows from operating activities $92 $70 $205 Capital expenditures (10) (7) (28) Disposal of property, plant and equipment — 0 0 Free cash flows $81 $63 $177 Note: Totals may not sum due to rounding 13
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-perio