Volex Plc · LSE:VLX
Volex — Investor Day (April 2026)
67 slides from Volex's investor day presentation, April 2026
Slide 1: Built for Complexity
BUILT FOR COMPLEXITY Capital Markets Day April 2026 Volex plc / Built for complexity / Capital Markets Day April 2026
Slide 2: Dave Webster
Dave Webster Non-Executive Chairman Volex plc / Built for complexity / Capital Markets Day April 2026 /2
Slide 3: Nat Rothschild
Nat Rothschild Chief Executive Officer Volex plc / Built for complexity / Capital Markets Day April 2026 /3
Slide 4: Meet the team
Meet the team Nat Rothschild John Molloy Jon Boaden Chief Executive Officer Group Chief Operating Officer Chief Financial Officer Paul Bullock Mark Kray Girish Gopinath Jessica Yu Fatih Köymen Hamsha Raman Chief Operating Officer, Chief Operating Officer, Chief Operating Officer, Chief Operating Off
Slide 5: Agenda
Agenda 2:00pm Welcome Dave Webster, Chairman 2:10pm Built for complexity Strategic overview Nat Rothschild, CEO 2:30pm Strategy in action Customer stories Paul Bullock, Mark Kray, Girish Gopinath 3:00pm The Volex Operating Model John Molloy, COO 3:30pm Financial framework Medium-term targets Jon Boa
Slide 6: Key messages
Key messages Best-in-class Increasing Category leading capabilities few complexity makes customers driving competitors can system integrators + high-value, long- + replicate, delivered like Volex critical. term demand. consistently worldwide. = $2bn $240m 12% 20% revenue Doubling underlying operatin
Slide 7: Volex: ten years of transformation
Volex: ten years of transformation Delivering on our potential… Volex plc / Built for complexity / Capital Markets Day April 2026 /7
Slide 8: Ten years of progress
Ten years of progress A track record of reliable performance differentiated and strengthened through transformation. Revenue growth Underlying operating profit growth Margin progression ($m) ($m) 2% → 10%+ FY16 FY26 Return on capital employed 13% → 20% FY16 FY25 Basic underlying earnings per share 1
Slide 9: We partner with category leaders
We partner with category leaders The characteristics of category leaders. Scaling in markets Disrupting and Embedded in that matter shaping industries their markets ● Supported by strong ● Industry leaders, ● Scale and technology structural growth drivers not followers advantages that compound over
Slide 10: In increasingly complex industries
In increasingly complex industries Complexity is accelerating. Systems are becoming harder to design, build, certify and deliver. Products are Innovation cycles Operating environments more integrated are compressing are shifting More customised and Faster change, shorter More complex international d
Slide 11: Where Volex's system integration capabilities are critical
Where Volex’s system integration capabilities are critical Our customers build intelligent, electrified systems. Volex integrates the power and connectivity that make them a reality. Combination of our capabilities creates our differentiation The value shifts to the integrator. ● Embedded in custome
Slide 12: Building embedded, value-creating partnerships
Building embedded, value-creating partnerships A repeatable loop: Complexity Trust Scalable Programmes Deeper Relationships We make scale possible by being at the centre of our customer’s designs Volex plc / Built for complexity / Capital Markets Day April 2026 / 12
Slide 13: Innovating with Category Leaders scaling into Group wide
Innovating with Category Leaders… Deeply embedded customer relationships enable us to engineer solutions to meet complex customer challenges. We don’t view these solutions in isolation, we think about application beyond the specific customer challenge. …scaling into Group wide capability. Volex plc
Slide 14: Delivering industry-leading organic growth
Delivering industry-leading organic growth Our average organic growth over the last five years is market leading. 12.2% Graph showing the last 5 years published organic growth (constant currency / like-for-like growth used where organic not defined) Source: Company published reports Volex plc / Buil
Slide 15: The spark
The spark Volex plc / Built for complexity / Capital Markets Day April 2026 / 15
Slide 16: Partnering category leaders in markets that are scaling
Partnering category leaders in markets that are scaling… A track record of reliable performance differentiated and strengthened through transformation. Key markets Everyday Essential Mission Critical Consumer Electricals EV and Electrification Off-Highway Complex Industrial Technology Medical ∼4% ∼1
Slide 17: The strategic path to $2bn revenue
The strategic path to $2bn revenue Our strategic priorities for revenue growth and margin expansion. Target and scale with category leaders ~$500m organic revenue growth Move up the complexity curve (in every market) + Scale capability across new markets and geographies ~$300m revenue from M&A + Acq
Slide 18: Paul Bullock
Paul Bullock Chief Operating Officer, Europe Volex plc / Built for complexity / Capital Markets Day April 2026 / 18
Slide 19: Complex systems, critical outcomes, zero margin for error
Complex systems Critical outcomes 2,200 Zero margin for error Parts supplied globally to a single customer Healthcare systems are becoming more integrated, regulated and with no tolerance for failure. Demographic shifts are accelerating 20+ demand. Diagnostic and treatment technologies are becoming
Slide 20: How we become a critical partner
How we become a critical partner We recognise that the real value is the relationship, not the individual assembly. Support the full portfolio Understand what’s at stake Relationship over transaction Supporting the customer across Purpose matters. Our teams We invest in design optimisation their ent
Slide 21: Rising to the challenge when it matters the most
Rising to the challenge when it matters the most What we did Supply chain resilience Secured critical components through supplier relationships. Flexed production schedules. This demonstrated commitment to move beyond transactional supply into a strategic partnership. Globalised manufacturing Multip
Slide 22: What this relationship represents
What this relationship represents The India investment was not driven by short-term returns. We think long term Long-term support creates value that compounds over time. We develop embedded, Genuine commitment, consistent execution, structural value-creating partnerships investment, trust earned ove
Slide 23: Mark Kray
Mark Kray Chief Operating Officer, North America Volex plc / Built for complexity / Capital Markets Day April 2026 / 23
Slide 24: From zero to $180m in nine years
From zero to $180m in nine years Powering the shift to electrification Electrification is reshaping transportation, energy infrastructure and industrial systems. We work with category-defining innovators. They need partners who move at their pace. $180m+ EV and electrification revenue We made an ear
Slide 25: Building capability for an industry still defining itself
Building capability for an industry still defining itself Technical ambition Pace and pressure Proving transferability We won our reputation on Innovative customers push We took what we knew about delivering against what is possible. They want power products and demanding specifications functionalit
Slide 26: Investing in unique capabilities, growing with our customers
Investing in unique capabilities Growing with our customers We understood the dynamics of this market early and identified where we could offer a differentiated solution. Tailoring solutions Investing ahead of growth Scaling with our customers Customer-led. We understand the By leveraging existing A
Slide 27: EV product evolution: moving up the complexity curve
EV product evolution: moving up the complexity curve From a single power cord to a full electrification ecosystem. Each step increases value, complexity and customer lock-in. 2017 2019 2020 2022 2023 NEXT Adapters & Supercharger In-vehicle V2L / V2G / Grid cord Wall charger connectors cable harness
Slide 28: Building an industry position, now investing to accelerate
Building an industry position Now investing to accelerate What we built Track record with category leader generates industry-wide credentials Exceeded the most demanding technical and quality standards in the industry. Visibility of future trends. Achieved significant reputation as a leading supplie
Slide 29: What this relationship demonstrates
What this relationship demonstrates Category leaders create Partnering with innovative disruptors aligned to mega-trends compounding returns builds capabilities and credentials that create a lasting advantage. Confidence in demand is Our investment is not speculative. It is backed by customer drivin
Slide 30: Girish Gopinath
Girish Gopinath Chief Operating Officer, APAC and VP, Power Products Volex plc / Built for complexity / Capital Markets Day April 2026 / 30
Slide 31: The infrastructure behind AI, engineered by Volex
The infrastructure behind AI Engineered by Volex Behind every AI model, every cloud platform and every digital service is a data centre. Volex designs and manufactures the high-speed cables that make these facilities work. $1tn Global data centre Capex forecast in 2026 This is not commodity manufact
Slide 32: Where failure has consequences measured in millions
Where failure has consequences measured in millions Sequencing risk Technical frontier Competitive intensity Cables go in last. Without From 200Gbps to 1.6Tbps. Each We compete directly with the connectivity, nothing works. generation pushes the limits. biggest players in the industry. A critical el
Slide 33: Innovation is not just what we make – it's how we make it
Innovation is not just what we make – it’s how we make it In this market, product innovation alone is not enough. Creating the optimal manufacturing process provides significant value. Process innovation Product innovation Every cable tracked. Every cable tested. Ready before our customers need us.
Slide 34: Scaling without compromise – expanding the opportunity
Scaling without compromise – expanding the opportunity What we delivered Rapid capacity expansion Scaled specialist facilities in Asia at unprecedented speed, replicating advanced manufacturing processes across sites while maintaining quality standards throughout. Investment in product development P
Slide 35: What this relationship demonstrates
What this relationship demonstrates Innovation protects Investing in both product and process. Very difficult to margin quality replicate resulting in pricing resilience. We compete at the Winning against larger manufacturers on capability, reliability, highest level and win and pace of innovation.
Slide 36: John Molloy
John Molloy Group Chief Operating Officer Volex plc / Built for complexity / Capital Markets Day April 2026 / 36
Slide 37: How we execute
How we execute Intelligent, agile execution at scale Our operating model is as important as what we deliver. It is what allows us to execute consistently, at scale, across geographies and sectors. And it is very difficult to replicate. Volex plc / Built for complexity / Capital Markets Day April 202
Slide 38: Culture is a competitive advantage
Culture is a competitive advantage Ten years in the making. Impossible to replicate. A decade building the right people, Communication makes behaviours and knowledge across 23 sites. us one company It’s not just about facilities. 23 sites move as one. That takes years to build. It’s not just about c
Slide 39: A single global organisation
A single global organisation 23 manufacturing locations. Multiple continents. Consistent operating framework. Common platform Short chain of command Transferable systems A shared framework of operational Quick decisions made at site Consistency is what allows us excellence applied consistently level
Slide 40: The flexibility of a smaller supplier – the scale of a global manufacturer
The flexibility of a smaller supplier – the scale of a global manufacturer Smaller suppliers Larger competitors • Quick to adapt We occupy a different position. • Resources and footprint • Personal customer service Responsiveness and customer • Supply chain scale focus delivered with global • Strugg
Slide 41: Manufacturing where it matters most
Manufacturing where it matters most Customer proximity creates unrivalled uptime, agility and pace. Reduced freight costs Localised production near final assembly plants eliminates One partner. Multiple markets. long-distance logistics and reduces landed cost. Complexity absorbed. ● Customers want t
Slide 42: Our global footprint creates optionality
Our global footprint creates optionality When trade conditions change, we have alternatives. We do not need to build them. 5 13 5 sites sites sites China, Indonesia, India, UK, Central Europe, USA, Mexico Vietnam Türkiye Rapid scale-up capability Proximity to European OEMs Tariff-advantaged position
Slide 43: Transfer of production is a differentiator
Transfer of production is a differentiator Our track record of successful transfers is a driver for new business wins and customer retention. Why customers Volex’s transfer EV: Built where it is needed need a transfer track record When tariff landscapes shifted, partner we relocated EV cable assembl
Slide 44: Centres of excellence: compounding capability
Centres of excellence: compounding capability Five major sites. Fewer, larger, more capable locations driving operating leverage and broader customer offering. Asia Pacific Europe & Americas Türkiye Suzhou, China Tijuana, Mexico Second largest site. Centre of excellence for Sivas, Türkiye Multi-use
Slide 45: Centres of excellence: commercial opportunity
Centres of excellence: commercial opportunity Our consolidation strategy unlocks significant commercial benefits beyond cost optimisation. Platform drives greater profitability Capability Breadth Value Recurrence Profitability Enhanced Broader Increased Repeat Operating capability set offering per w
Slide 46: Replicating a proven playbook
Replicating a proven playbook We acquire regional capability, connect it to the Volex platform, and scale it globally. The model is proven and repeatable. Acquire regional Connect to the Expand Scale with capability Volex platform geographically category leaders Consumer Electricals Consumer Electri
Slide 47: Revenue certainty is the outcome of embedded partnerships
Revenue certainty is the outcome of embedded value creating partnerships Growth visibility comes from being embedded in the customer’s designs. Partnering with the Customer proximity Multi-year programme right customers creates predictability visibility We want to be more than an Involvement at the
Slide 48: Jon Boaden
Jon Boaden Chief Financial Officer Volex plc / Built for complexity / Capital Markets Day April 2026 / 48
Slide 49: Unlocking Volex's potential
Unlocking Volex’s potential Complexity creates value. Consistent execution maximises returns. We outperformed The quality of the business A clear financial framework the five-year plan has fundamentally changed for the medium term Business is stronger and more Embedded with category leaders Clear ta
Slide 50: Built to grow: why this continues
Built to grow: why this continues Organic growth driven by strong customer positioning in structurally growing markets. Consistent organic growth through cycles The quality of revenue is improving Maintained strong growth against a backdrop of supply Mix shifting to higher-complexity, longer-duratio
Slide 51: Our track record: delivered on our commitments
Our track record: delivered on our commitments FY22-FY27 five-year plan: set in 2022, delivered a year early in FY26. FY21 Target FY26 Metric Starting point (by FY27) Actual Status Revenue $615m $1,200m $1,220m Beat 1yr early Underlying operating margin 9% 10% 10%+ Beat Organic revenue growth n/a 9%
Slide 52: Organic growth: why we are confident
Organic growth: why we are confident Category leadership in EV and off-highway, now replicated in North America and extended into adjacencies. EV & Electrification +10% +300bps Off-Highway +4% +300bps Market Volex vs Market Market Volex vs Market Market leader with adjacencies Geographic expansion i
Slide 53: Organic growth: why we are confident
Organic growth: why we are confident Consolidating customer supply chains and rising product complexity are lifting our content per unit. Consumer Electricals +4% +100bps Medical +6% In line Market Volex vs Market Market Volex vs Market Move from power cords to harnesses Consolidation and demographi
Slide 54: Organic growth: why we are confident
Organic growth: why we are confident AI infrastructure and industrial reshoring drive recurring upgrade cycles that favour specialists. Complex Industrial Technology +5% In line Market Volex vs Market Data centres & AI Industrial & defence AI infrastructure build out Reshoring electrification and au
Slide 55: Consistent execution driving margins to 12%
Consistent execution driving margins to 12% Scalability and growth support higher margins through operating leverage. Embracing complexity to enhance margins Underlying operating margin progression Moving up the complexity curve across all end markets. Earning more by solving harder challenges. 12%
Slide 56: Sustainability as a competitive advantage
Sustainability as a competitive advantage Our customers need a lower-impact supply chain. We are building one. WHY IT MATTERS TO OUR CUSTOMERS WHAT WE ARE DELIVERING Scope 3 is the biggest challenge Carbon intensity Halved since 2019. Purchased goods and services are the largest share of many custom
Slide 57: Reinvesting for high returns
Reinvesting for high returns Invest in organic capability Strategically investing in capital infrastructure ~20% ROCE consistently. to support clear customer requirements. Strong focus on reinvestment. Maximising the benefits Targeted, value-accretive acquisitions from the platform. Capability-led a
Slide 58: Cash discipline powers long-term growth
Cash discipline powers long-term growth Strong cash generation funds organic investment. 97% cash conversion before capex Five-year average cash conversion Over a five-year average, tight control on working capital across the platform gives a very high level of cash conversion before capex. 100% (3%
Slide 59: Strategic capex: building capabilities that win business
Strategic capex: building capabilities that win business Targeted investment in capabilities that directly win customer programmes and create customer lock-in. Investment Impact EV cable extrusion $81m revenue from own cable, Suzhou, Batam and extending to San Luis Potosi supporting $180m of busines
Slide 60: Disciplined acquirers: what we look for
Disciplined acquirers: what we look for Every acquisition must add a capability, a customer, or a geography. Then we connect it to the Volex platform and grow it. What we look for How it works within Volex ● Delivering post-acquisition ROCE of at least 15% Serves the right customers Customers who va
Slide 61: Acquisition track record – creating value
Acquisition track record – creating value Benefit to Volex Benefit to acquired business What we have achieved Increased purchasing power North America Murat Opened Off-Highway market Ticaret New customers Access to Volex quality and TAM: customers $700m operational standards & targets Low-cost alter
Slide 62: The path to $2bn
The path to $2bn Revenue growth that creates compelling shareholder value $1.2bn +$500m Organic $2bn at 12% 10% underlying operating margin operating margin +$300m = $240m underlying operating profit M&A Today Medium term plan Volex plc / Built for complexity / Capital Markets Day April 2026 / 62
Slide 63: Built for complexity. Positioned for growth.
Built for complexity. Positioned for growth. Best-in-class Increasing Category leading capabilities few complexity makes customers driving competitors can system integrators + high-value, long- + replicate, delivered like Volex critical. term demand. consistently worldwide. = $2bn $240m 12% 20% reve
Slide 64: Q&A
Q&A $2bn $240m 12% 20% revenue Doubling underlying operating profit operating margin ROCE Volex plc / Built for complexity / Capital Markets Day April 2026 / 64
Slide 65: Invitation to explore
Invitation to explore Volex plc / Built for complexity / Capital Markets Day April 2026 / 65
Slide 66: Appendix
Appendix Volex plc / Built for complexity / Capital Markets Day April 2026 / 66
Slide 67: Market growth rate sources
Market growth rate sources Each end market growth rate is a weighted average of the sub-sectors we actually sell into, using our H1 FY26 revenue mix as the weighting. This reflects the breadth of sub-sectors we are exposed to. Weighted average Below, the bar size represent the proportion of revenue