Slide 1: Q1 FY27 Earnings Presentation
Q1 FY27 Earnings Presentation Quarter End: June 26, 2026 Earnings Announcement: July 29, 2026 1
Slide 2: Risks and non-GAAP disclosures
Risks and non-GAAP disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including statements related to our future financial results and our guidance and outlook for future financial performance (including expected revenues, operating income,
Slide 3: Executive summary
Executive summary Revathi Advaithi Chief Executive Officer 3
Slide 4: Executive summary
Executive summary Q1 FINANCIAL PERFORMANCE Revenue Adj. operating income Adj. operating margin Adj. net income Adj. earnings per share $7.9B $534M 6.7% $374M $1.00 BUSINESS UPDATES Margins: +70 bps Y/Y; margin expansion across all three segments FINANCIAL Earnings per Share: +39% Y/Y and record adju
Slide 5: Two companies, built to win
Two companies, built to win SpinCo has grown to the scale and strategic importance to stand on its own. Flex has compelling opportunities that deserve dedicated focus and capital FY 2028 revenue outlook • AI infrastructure has evolved to address the SpinCo: Built for the AI era convergence of power,
Slide 6: Transaction update
Transaction update Cloud and Power Infrastructure Spin-Off Flex Q1 Earnings Flex Q2 Earnings July ’26 Oct ‘26 Investor Day Announced Form 10 Spin Date for Flex & Spin Available Calendar Q1 May ‘26 September ‘26 SpinCo 2027 November 10th Separation Update • Expected key leadership announcement made f
Slide 7: Financial update
Financial update Kevin Krumm Chief Financial Officer 7
Slide 8: Q1 Key financials
Q1 Key financials Q1FY26 QUARTER HIGHLIGHTS Q1FY27 Y/Y • Revenue growth strong across all FLEX three operating segments Revenue $6,575M $7,928M 21% • CPI continues to lead growth with 35% year-over-year Adj. Gross Profit / Margin $596M / 9.1% $761M / 9.6% 28% / 50 bps expansion Adj. Operating Income
Slide 9: Q1 FY27 Segment performance
Q1 FY27 Segment performance REVENUE ADJ. OPERATING INCOME ADJ. OPERATING MARGIN TOTAL FLEX REVENUE ($B) Y/Y GROWTH ($M) Y/Y GROWTH % Y/Y CHANGE 38% REGULATED MANUFACTURING SOLUTIONS $2.7 12% $176 40% 6.6% 130 bps INTEGRATED TECHNOLOGY SOLUTIONS $7.9B 28% $3.1 20% $158 21% 5.2% 10 bps 34% CLOUD AND P
Slide 10: Cash flow overview
Cash flow overview CAPITAL EXPENDITURES, NET A ($M) ($M) Q1FY27 $235 $201 GAAP NET INCOME $285 $148 $145 Depreciation, Amortization and other Impairment Charges $140 $131 Change in Working Capital and other, net ($149) Q1F26 Q2F26 Q3F26 Q4F26 Q1F27 OPERATING CASH FLOW $276 Capital expenditures, netA
Slide 11: FY27 Guidance
FY27 Guidance Prior Updated FLEX Increasing FY27 revenue, adj. operating margin, and Revenue $32.3 - $33.8B $33.7 - $35.2B adj. EPS guidance Margin expansion driven by focus on Adj. Operating Margin 7.0% - 7.1% 7.0 - 7.2% high-value end markets Strong CPI demand from AI and utility infrastructure bu
Slide 12: FY27 Revenue expectations
FY27 Revenue expectations Delivering margin-accretive growth in diversified portfolio RMS Up mid-single digit to high-single digit Industrial Energy infrastructure and warehouse automation driving growth Automotive Stable performance within dynamic end market Healthcare Connected medical devices dri
Slide 13: Q2 FY27 Guidance
Q2 FY27 Guidance RMS Up mid-single digit to high-single digit ITS Up high-single digit to low-double digits CPI Up 45% to 55% Revenue Adj. operating income Adj. earnings per share $7.95B - $8.25B $535M - $565M $1.00 - $1.07 Interest and other expense Adj. income tax rate Weighted avg. shares outstan
Slide 14: Appendix
Appendix 14
Slide 15: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended June 26, 2026 March 31, 2026 June 27, 2025 March 31, 2025 % of revenue % of revenue % of revenue % of revenue ($ in Millions) GAAP gross profit $747 9.4% $702 9.4% $572 8.7% $563 8.8% St
Slide 16: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended June 26, 2026 March 31, 2026 June 27, 2025 March 31, 2025 ($ in Millions) GAAP operating income $392 $372 $311 $305 Intangible amortization 23 16 21 21 Stock-based compensation expense 5
Slide 17: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- ended ended ended ended ($ in Millions, except for EPS) June 26, 2026 March 31, 2026 June 27, 2025 March 31, 2025 GAAP net income $285 $250 $192 $222 Intangible amortization 23 16 21 21 Stock-based compensation
Slide 18: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- ended Ended June 26, 2026 June 26, 2026 ($ in Millions) ($ in Millions) Non-GAAP Operating Income: Reconciliation of Non-GAAP Operating income Integrated Technology Solutions $158 GAAP Operating Income $392 Regulated Manufacturi
Slide 19: Appendix: Reconciliation of GAAP to Non-GAAP Measures
Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- Quarter- Quarter- Quarter- Quarter- Quarter- ended Ended ended ended ended ended ($ in Millions) June 26, 2026 March 31, 2026 December 31, 2025 September 26, 2025 June 27, 2025 March 31, 2025 Net cash provided by operating activities $27
Slide 20: Cautionary Statement Regarding Forward-Looking Statements
Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “believe,” “ex
Slide 21: Important Information and Where to Find It
Important Information and Where to Find It In connection with the proposed spin-off, Flex intends to file relevant materials with the SEC, including, among other filings, a proxy statement on Schedule 14A that will be mailed or otherwise disseminated to shareholders of Flex seeking their approval of
Slide 22: Create the extraordinary.
Create the extraordinary.