Qualcomm Incorporated · NASDAQ:QCOM
Qualcomm — Merger or Acquisition (November 2017)
12 slides from Qualcomm's merger presentation, Nov 6, 2017
Slide 1: Broadcom Proposal to Acquire Qualcomm
Broadcom Proposal to Acquire Qualcomm Creating a leading diversified communications semiconductor company Investor Presentation November 6, 2017 Exhibit 99.2
Slide 2: Cautions Regarding Forward-Looking Statements
Cautions Regarding Forward-Looking Statements This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broa
Slide 3: Attractive Offer, Substantial Premium, High Transaction Certainty
Attractive Offer Substantial Premium High Transaction Certainty Highly Attractive Proposal Offers Immediate and Compelling Value and Upside Potential for Qualcomm Stockholders $70.00 per share for each outstanding share of Qualcomm $60.00 per share in cash $10.00 per share in Broadcom shares Transac
Slide 4: Strategically and Financially Attractive Transaction
Strategically and Financially Attractive Transaction Creates a leading diversified communications semiconductor company Strengthens the portfolio of category leading segments in mobile, wired infrastructure and automotive / industrial Accelerates innovation and ability to deliver advanced semiconduc
Slide 5: Global Semiconductor Industry Leadership
Global Semiconductor Industry Leadership Financials adjusted for closed acquisitions and divestitures where financial information was publicly disclosed. LTM Revenue of international companies is based on an FX spot rate as of 11/2/2017; using an average rate over the time revenue was generated woul
Slide 6: Qualcomm Significantly Enhances Broadcom's Rich History of Innovation
Qualcomm Significantly Enhances Broadcom’s Rich History of Innovation Broadcom’s Heritage of Technology IPO 1961 1981 1991 1996 1999 2002 2005 2007 2009 2014 2016 2017
Slide 7: Combined Broadcom TAM will be $200B+ and Highly Diversified
NXP Auto Semis NXP MCUs Leading Positions Key Customers TAM (1) RF Wireless Combo + Touch Set-Top Box + Broadband Ethernet Switching + PHY + NICS ASICs Fiber Optics HDD / SSD ASIC Storage Connect FC SAN P P P P P P P P P P P P Opto-couplers P Wireless Communications Wired Infrastructure Enterprise S
Slide 8: Highly Attractive Broadcom Financial Model
Existing Long-Term Model 5% CAGR >60% ~45% ~48% Highly Attractive Broadcom Financial Model Significant revenue scale Proven operating model with industry leading margins Strong cash flow generation and liquidity Proven and successful integrator Track record of rapid deleveraging Highlights Broadcom
Slide 9: Broadcom Has Created Substantial Shareholder Value Since its IPO
Broadcom Has Created Substantial Shareholder Value Since its IPO Ongoing Broadcom Focus on Category Leading Franchises Has Created Multiple Organic Growth Drivers; Exceptional Track Record Executing Large, Value-Creating Transactions Such as LSI, Broadcom and Brocade Share Price IPO $15.00 Current $
Slide 10: Robust Financing Strategy
Expects to maintain investment grade rating; ensures access to large, low-cost financing markets Robust Financing Strategy Rapid deleveraging profile as a result of strong free cash flow generation while maintaining an attractive dividend Highly confident letters received from BofA Merrill Lynch, Ci
Slide 11: Clear Roadmap to Completion
Clear Roadmap to Completion Regulatory Approvals Expected in Timely Manner Transaction subject to: HSR in U.S. and regulatory approvals in relevant jurisdictions globally Redomiciling plan further increases deal certainty Broadcom expects transaction would close within approximately 12 months of def
Slide 12: a BROADCOM
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