Slide 1: Second Quarter 2022 Earnings Presentation
Second Quarter 2022 Earnings Presentation Enabling Technology. Growing Sustainably.
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: Second Quarter 2022 Financial Results
Second Quarter 2022 Financial Results Constant Currency* Organic* ($ in millions) Q2 2022 Q2 2021 YoY YoY YoY Net Sales $677 $587 15% 23% 6% Electronics 439 395 11% 16% 8% Industrial & Specialty 238 192 24% 35% 2% GAAP Diluted EPS $0.25 $0.32 Adj. EBITDA* $140 $132 7% 13% % margin 20.7% 22.5% (180)
Slide 4: Second Quarter 2022 Segment Details
Second Quarter 2022 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $228 3% Growth from EV customers and pricing actions, partially offset by impact of China lockdowns and automotive market weakness Circuitry $136 14% Strong demand in data storage and activ
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q2 2022 free cash flow* of $66 million ▪ Net debt to adj. EBITDA ratio* of 3.2x on a LTM basis as of June 30, 2022 o $37 million investment in working capital reflected ▪ Including the estimated fair value in c
Slide 6: Full Year 2022 Financial Guidance
Full Year 2022 Financial Guidance Updated as of July 2022 FY Adjusted EBITDA* $565 million to $575 million1 FY Adjusted $1.52-$1.55 EPS* FY Free Cash Approximately $270 million Flow* ▪ Expect Q3 2022 adj. EBITDA* of approximately $140 million or approximately 20% constant currency growth* ▪ Full yea
Slide 7: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q2 2022 Q2 2021 Basic common shares outstanding 246 248 Number of shares issuable upon vesting of granted Equity Awards 1 2 5 Adjusted common shares outstanding 248 252 Note: Totals may not sum due to rounding 1. Equity awards with target
Slide 9: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q2 2022 Q2 2021 Net income attributable to common stockholders $65 $81 Add (subtract): Net income attributable to non-controlling interests 0 — Income from discontinued operations, net of tax (2) (2) Income tax
Slide 10: Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q2 YTD 2022 Q3 2021 Q4 2021 2022 Net income attributable to common stockholders $121 $36 $4 $161 Add (subtract): Net income (loss) attributable to non-controlling interests 1 (0) 1 1 (Income) loss from dis
Slide 11: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q2 2022 Q2 2021 Net income attributable to common stockholders $65 $81 Net income from discontinued operations attributable to common stockholders 2 2 Net income from continuing operations attributable to c
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended June 30, 2022 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics 11% 5% 16% (7)% (1)% 8% Industrial & Specialty 24% 11% 35% —% (33)% 2% Tota
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ millions) Q2 2022 Q2 2021 Cash flows from operating activities $74 $80 Capital expenditures (12) (9) Proceeds from disposal of property, plant and equipment 3 — Free cash flows $66 $72 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-period