Slide 1: Fiscal third quarter 2024 highlights
Fiscal third quarter 2024 highlights July 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 third quarter themes
PLEXUS CORP. F I S C A L T H I R D Q UA R T E R T H E M E S Strengthening demand Robust Q3F24 margin Substantial Q3F24 and across market sectors expansion supports goal fiscal year-to-date free creates potential to of 5.5% GAAP and >6% cash flow generation. realize 9-12% fiscal 2025 non-GAAP operati
Slide 4: Fiscal third quarter financial results
PLEXUS CORP. Fiscal third quarter financial results Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 5.8% 5.8% * 1,100 6.0% 5.4% 1,022 1,024 5.1% 4.9% 983 5.0% 1,000 967 961 4.0% 900 3.0% 800 2.0% 700 1.0% 600 0.0% Q3 F23 Q4 F23 Q1 F24 Q2 F24 Q3 F24 Q3 F23 Q4 F23 Q1 F24 Q2 F24 Q3 F24 EPS
Slide 5: Wins and funnel highlights
PLEXUS CORP. Wins and funnel highlights Wins ($ millions) Funnel ($ millions) 350 321 4,500 3,979 4,003 279 4,000 3,672 3,649 300 3,544 261 255 3,500 250 3,000 192 200 2,500 150 2,000 1,500 100 1,000 50 500 - - Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 • 35 new manufacturing progra
Slide 6: Q3F24 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 Q3F24 Highlights • Published fiscal 2023 Sustainability Report • Committed to environmental impact reductions through initiatives such as solar panel installation • Partnered with Greater Fox Cities Habitat for Humanity o
Slide 7: Fiscal 2024 fourth quarter guidance
PLEXUS CORP. Fiscal 2024 fourth quarter guidance Revenue ($ millions) Operating Margin (Non-GAAP) 1,200 7.0% 5.8% 5.8% 5.8% 1,100 6.0% 1,024 5.1% 4.9% 1,010 5.0% 983 967 1,000 961 4.0% 900 3.0% 800 2.0% 700 1.0% 600 0.0% Q4 F23 Q1 F24 Q2 F24 Q3 F24 Q4 F24* Q4 F23 Q1 F24 Q2 F24 Q3 F24 Q4 F24* EPS (No
Slide 8: Market sector performance - Industrial
PLEXUS CORP. Market sector performance - Industrial Revenue ($ millions) Wins ($ millions) 600 250 Q3F24 vs. 500 Q2F24 193 428 435 200 417 418 403 400 - 4% 150 125 300 104 100 200 Q4F24 58 Expectations 52 50 100 Up high single - - Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 • Q3F24 b
Slide 9: Market sector performance – Healthcare/Life Sciences
PLEXUS CORP. Market sector performance – Healthcare/Life Sciences Revenue ($ millions) Wins ($ millions) 600 250 Q3F24 vs. 500 Q2F24 197 451 449 200 400 381 379 380 Flat 150 300 113 109 104 100 90 200 Q4F24 Expectations 100 50 Up mid single - - Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Q3F23 Q4F23 Q1F24 Q2F24 Q
Slide 10: Market sector performance – Aerospace/Defense
PLEXUS CORP. Market sector performance – Aerospace/Defense Revenue ($ millions) Wins ($ millions) 300 60 Q3F24 vs. 250 Q2F24 50 42 200 40 38 178 + 4% 36 167 170 158 143 150 30 23 24 100 Q4F24 20 Expectations 50 10 Flat - - Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 • Q3F24 below exp
Slide 11: Regional manufacturing wins trends
PLEXUS CORP. Regional manufacturing wins trends Wins ($ millions) 350 321 300 279 261 255 250 EMEA $59M 192 200 Q3F24 AMER 150 APAC $163M $57M 100 50 - Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 AMER APAC EMEA Robust Q3F24 manufacturing wins of $279M 11
Slide 12: Qualified manufacturing funnel trends
PLEXUS CORP. Qualified manufacturing funnel trends Funnel ($ millions) 5,000 4,500 3,979 4,003 4,000 3,672 3,649 3,544 3,500 3,000 2,500 2,000 1,500 1,000 500 - Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Industrial Healthcare/Life Sciences Aerospace/Defense Funnel growth despite strength of wins 12
Slide 13: Income statement
PLEXUS CORP. Income statement Q3F23 Q2F24 Q3F24 Actual Q3F24 Guidance Revenue $1.02 billion $967 million $961 million $960 million to $1.0 billion Gross margin 9.2% 9.1% 9.8% 9.3% to 9.7% Selling & administrative expense $42.3 million $47.6 million $46.0 million $45.5 to $46.5 million GAAP operating
Slide 14: Cash flow and balance sheet
PLEXUS CORP. Cash flow and balance sheet Q3F23 Q2F24 Q3F24 Free cash flow ($11.5) million $64.9 million $114.2 million Share repurchases $13.6 million $17.6 million $18.6 million Cash balance $254 million $265 million $270 million Total debt $492 million $438 million $349 million Return on invested
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 Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Q3F23 Q4F23 Q1F24 Q2F24 Q3F24 Days in Accounts Receivable 63 59 61 61 61 Days in Contract Assets 12 13 12 12 11 Days in Inventory 161 154 161 158 151 Days in Accounts Payable 68
Slide 16: Fiscal fourth quarter 2024 guidance
PLEXUS CORP. Fiscal fourth quarter 2024 guidance Q4F23 Q3F24 Q4F24 Guidance Revenue $1.02 billion $961 million $990 million to $1.03 billion GAAP diluted EPS $1.44 $0.91 $1.14 to $1.29 Non-GAAP diluted EPS $1.65 $1.45 $1.50 to $1.65 Gross margin 9.4% 9.8% 9.7% to 10.0% Selling & administrative expen
Slide 17: Q&A Thank you
O&A Thank you: PLEXUS | ——_——_—< $_————