Slide 1: First Quarter 2022 Earnings Presentation
First 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: First Quarter 2022 Financial Results
First Quarter 2022 Financial Results Constant Currency* Organic* ($ in millions) Q1 2022 Q1 2021 YoY YoY YoY Net Sales $680 $550 24% 28% 7% Electronics 427 354 21% 23% 8% Industrial & Specialty 253 197 29% 37% 4% GAAP Diluted EPS $0.23 $0.33 Adj. EBITDA* $145 $138 5% 9% % margin 21.3% 25.0% (370) bp
Slide 4: First Quarter 2022 Segment Details
First Quarter 2022 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $235 5% Continued growth across most core assembly product categories Strong demand from memory disk customers and in the Americas; weakness in certain Circuitry $121 13% Asian markets due t
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management • Q1 2022 free cash flow* of $(15) million • Net debt to adj. EBITDA ratio* of 3.2x on a LTM basis as of March 31, 2022 o $56 million investment in working capital reflected o 3.1x on a trailing twelve-month basi
Slide 6: Full Year 2022 Financial Guidance
Full Year 2022 Financial Guidance Updated as of April 2022 $580 million to $590 million FY Adj. EBITDA* (15-17% constant currency* growth) FY Adjusted $1.55 - $1.60 EPS* (12-16% growth) FY Free Cash Flow* $310 million - $325 million ▪ Expect Q2 2022 adj. EBITDA* of approximately $140 million ▪ Full
Slide 7: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q1 2022 Q1 2021 Basic common shares outstanding 248 248 Number of shares issuable upon vesting of granted Equity Awards 1 2 2 Adjusted common shares outstanding 250 250 Note: Totals may not sum due to rounding 8 1 - Equity awards with tar
Slide 9: Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA
Net Income Attributable to Common Stockholders Reconciliation to Adj. EBITDA ($ millions) Q1 2022 Q1 2021 Net income attributable to common stockholders $56 $82 Add (subtract): Net income attributable to non-controlling interests 0 — Income tax expense 20 31 Interest expense, net 14 13 Depreciation
Slide 10: GAAP Net Income Reconciliation to Adjusted Diluted EPS
GAAP Net Income Reconciliation to Adjusted Diluted EPS ($ millions, except per share amounts) Q1 2022 Q1 2021 Net income attributable to common stockholders $56 $82 Reversal of amortization expense 31 30 Adjustment to reverse incremental depreciation expense from acquisitions 1 1 Inventory step-up 1
Slide 11: Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adj. EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q1 QTD 2022 Q2 2021 Q3 2021 Q4 2021 2022 Net income attributable to common stockholders $56 $81 $36 $4 $177 Add (subtract): Net income (loss) attributable to non-controlling interests 0 — (0) 1 1 (Income)
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended March 31, 2022 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Acquisitions Sales Growth Currency Growth Pricing Electronics 21% 3% 23% (12)% (3)% 8% Industrial & Specialty 29% 8% 37% —% (33)% 4% Tot
Slide 13: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ millions) Q1 2022 Q1 2021 Cash flows from operating activities ($6) $33 Capital expenditures (10) (9) Free cash flows ($15) $24 13 Note: Totals may not sum due to rounding
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