Slide 1: Q3 Fiscal 2026 Financial Results
Q3 Fiscal 2026 Financial Results July 27, 2026
Slide 2: Today's Presenters
Today’s Presenters Jure Sola Jon Faust Chairman & CEO EVP & CFO 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement Certain statements made during this presentation, including those relating to anticipated demand during fiscal 2027 and into fiscal 2028, and our financial outlook for the fourth quarter fiscal 2026 and fiscal year 2026, constitute forward-looking statements within the meaning
Slide 4: Q3 FY'26 Highlights
Q3 FY’26 Highlights Non-GAAP Non-GAAP Cash Flow Revenue Operating Margin* Diluted EPS* From Operations $3.46B 8.0% $3.31 $124M Great Quarter * Refer to GAAP to non-GAAP reconciliation on slide 23. 4
Slide 5: Financial Overview
Financial Overview Jon Faust
Slide 6: Non-GAAP Financial Highlights
Non-GAAP Financial Highlights Q3 FY’26 Outlook WAS Revenue $3.46B $3.2B - $3.5B Operating Margin 8.0% 6.4% - 6.9% Diluted EPS $3.31 $2.55 - $2.85 Core Sanmina revenue grew 17.0% Y/Y to $2.4 billion; exceeded outlook ZT Systems revenue of $1.1 billion; midpoint of outlook Strong Execution, Mix an
Slide 7: Non-GAAP P&L Performance
Non-GAAP P&L Performance ($ in millions, except per share data) Revenue Non-GAAP Gross Profit & Gross Margin 69.7% $3,464 $370 10.7% $2,042 $186 9.1% Q3'25 Q3'26 Q3'25 Q3'26 Non-GAAP Operating Profit Non-GAAP Diluted Earnings Per Share & Operating Margin $276 116.0% $3.31 8.0% $116 $1.53 5.7% Q3'25
Slide 8: Segment Reporting: Revenue and Non-GAAP Gross Margin
Segment Reporting: Revenue and Non-GAAP Gross Margin ($ in millions) Integrated Manufacturing Solutions Components, Products and Services $2,957 14.7% 10.2% 12.8% $1,648 $546 7.5% $422 Q3'25 Q3'26 Q3'25 Q3'26 Core Sanmina IMS revenue of $1.9 billion grew 14.1% Y/Y CPS grew 29.2% Y/Y ZT Systems
Slide 9: Balance Sheet
Balance Sheet ($ in millions) 6/27/2026 Cash and cash equivalents 1,845 Key Takeaways: Accounts receivable, net 1,987 Contract assets 522 Substantial liquidity: $4.0 billion Inventories 3,152 Property, plant and equipment, net 1,051 No borrowings under $1.5 billion Revolver at quarter end Deferr
Slide 10: Q3 FY'26 Cash Flow Highlights
Q3 FY’26 Cash Flow Highlights Cash Flow from Operations: $124 million Net CapEx: $101 million Free Cash Flow: $24 million Non-GAAP EBITDA: $322 million Making Investments to Drive Growth Free cash flow = Net cash provided by operating activity less net purchases of property and equipment. Re
Slide 11: ZT Systems Update: Phased Execution
ZT Systems Update: Phased Execution Updates & Completed Future Actions Actions In Progress Actions Integration of ZT Systems Additional capital investments in Continue to invest in the business automation Initial capital investments in power, Secure additional orders and further liquid coo
Slide 12: Q4 FY'26 Outlook
Q4 FY’26 Outlook Non-GAAP Non-GAAP Revenue Operating Margin* Diluted EPS* $3.3B - $3.6B 7.5% - 8.0% $3.05 - $3.35 Core Sanmina revenue of $2.5 billion to $2.6 billion ZT Systems revenue of $0.8 billion to $1.0 billion *This is a forward-looking non-GAAP financial measure that cannot be reconcile
Slide 13: FY'26 Outlook
FY’26 Outlook Non-GAAP Non-GAAP Revenue Operating Margin* Diluted EPS* $14.0B - $14.3B 6.85% - 7.25% $11.90 - $12.20 Core Sanmina revenue of $9.1 billion to $9.2 billion; midpoint represents 12.6% Y/Y growth ZT Systems revenue of $4.8 billion to $5.0 billion for 11 months; well within $5 - $6 bi
Slide 14: Business Overview
NN SANMINA Business Overview Jure Sola
Slide 15: Diversified Portfolio: End-Market Performance
Diversified Portfolio: End-Market Performance ($ in millions) Q3 FY’25 Q3 FY’26 Y/Y Communications Networks $786 $2,148 173.2% Cloud & AI Infrastructure Industrial & Energy Medical $1,256 $1,316 4.8% Defense & Aerospace Automotive & Transportation Total $2,042 $3,464 69.7% Growth Across All End-Mark
Slide 16: End-Market View: Key Takeaways
End-Market View: Key Takeaways AI is driving growth for the entire end-market Communications Networks / Bookings continue to be strong; added new customers Cloud & AI Infrastructure Strong pipeline of business for FY’27 and FY’28 Expect growth to accelerate Industrial & Energy Expanding en
Slide 17: Diverse Set of Capabilities: End-to-End Solutions
Diverse Set of Capabilities: End-to-End Solutions Business Update: Expanding our customer base Winning new AI platform business Increasing our addressable market through vertical integration and engineering Continue to invest in capabilities and capacity to support growth in 2027 and 2028 In
Slide 18: Sanmina's Manufacturing Footprint
Sanmina’s Manufacturing Footprint AMERICAS Huntsville, AL Manchester, NH Georgetown, TX Ottawa, Canada Global/Regional Supply Chain Costa Mesa, CA Secaucus, NJ Houston, TX Guadalajara, MX Fremont, CA Austin, TX Salt Lake City, UT Juarez, MX Newark, CA Carrollton, TX Kenosha, WI Monterrey, MX San Jos
Slide 19: Summary
Summary Well Diversified Expanding Across and Within Strong Foundation - Great Q3 Results & Capabilities End-Markets – Excited About the Outlook For FY’26 and Manufacturing Strong Growth in Opportunities Ahead Footprint Core Business Well Positioned for Strong Growth in FY’27 and FY’28 19
Slide 20: Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP
Consolidated Financial Statements Reconciliation of GAAP vs. Non-GAAP Quarter Ended: June 27, 2026
Slide 21: Sanmina Corporation Condensed Consolidated Balance Sheets
Sanm ina Corporation Condensed Consolidated Balance Sheets (in thousands) (GAAP) (Unaudited) June 27, Septem ber 27, 2026 2025 ASSETS Current assets: Cash and cash equivalents $ 1,844,942 $ 926,267 Accounts receivable, net 1,986,682 1,400,129 Contract assets 522,364 425,944 Inventories 3,152,247 1,9
Slide 22: Sanmina Corporation Condensed Consolidated Statements of Income
Sanm ina Corporation Condensed Consolidated Statem ents of Incom e (in thousands, except per share am ounts) (GAAP) (Unaudited) Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2026 2025 2026 2025 Net sales $ 3,464,016 $ 2,041,562 $ 10,666,980 $ 6,031,990 Cost of sales 3,100,
Slide 23: Sanmina Corporation Reconciliation of GAAP to Non-GAAP Measures
Sanm ina Corporation Reconciliation of GAAP to Non-GAAP Measures (in thousands, except per share am ounts) (Unaudited) Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2026 2025 2026 2025 GAAP Gross prof it $ 363,305 $ 181,050 $ 959,458 $ 525,200 GAAP Gross margin 10.5 % 8.9
Slide 24: Sanmina Corporation Condensed Consolidated Cash Flow
Sanm ina Corporation Condensed Consolidated Cash Flow (in thousands) (GAAP) (Unaudited) Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2026 2025 2026 2025 Net income before noncontrolling interest $ 125,308 $ 72,888 $ 274,878 $ 214,287 Depreciation and intangibles amortizat
Slide 25: Sanmina Corporation Pre-Tax Return on Invested Capital (ROIC)
Sanm ina Corporation Pre-Tax Return on Invested Capital (ROIC) ($ in thousands) (Unaudited) Three Months Ended June 27, 2026 June 28, 2025 GAAP Operating income $ 221,225 $ 95,877 x 4.0 4.0 Annualized GAAP Operating income 884,900 383,508 Average invested capital (1) ÷ 2,824,204 1,864,563 GAAP Pre-t
Slide 26: Sanmina Corporation Reconciliation of GAAP to Non-GAAP Measures: EBITDA
Sanm ina Corporation Reconciliation of GAAP to Non-GAAP Measures: EBITDA (in thousands) (Unaudited) Three Months Ended June 27, June 28, 2026 2025 EBITDA GAAP Operating Income $ 221,225 $ 95,877 Depreciation and intangibles amortization 48,201 29,760 GAAP EBITDA $ 269,426 $ 125,637 GAAP EBITDA Margi
Slide 27: Sanmina Corporation Reconciliation of Inventory, Net of Customer Advances
Sanm ina Corporation Reconciliation of Inventory, Net of Custom er Advances (in thousands) (Unaudited) June 27, Septem ber 27, June 28, 2026 2025 2025 Inventories $ 3,152,247 $ 1,988,462 $ 1,589,807 Customer advances for raw materials inventory 944,512 851,514 410,596 Inventories, Net of Custom er A
Slide 28: Schedule SANMINA
ty Schedule 1 SANMINA The statements above and financial information provided in this earnings release include non-GAAP measures of operating income, operating margin, net income and earnings per share. Management excludes from these measures stock-based compensation, restructuring, acquisition and
Slide 29: Thank You
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