Slide 1: Third Quarter 2025 Earnings Presentation
Third Quarter 2025 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: Third Quarter Highlights
Third Quarter Highlights ▪ Record quarterly adjusted EBITDA* Operational ▪ 10% like-for-like adjusted EBITDA* growth year over year Excellence ▪ 28% ex-metal adjusted EBITDA* margin ▪ $84M of Adjusted Free Cash Flow* Accretive, value-enhancing acquisition of ▪complementary high-performance Electroni
Slide 4: Third Quarter 2025 Financial Results
Third Quarter 2025 Financial Results Constant Currency* Organic* ($ in millions) Q3 2025 Q3 2024 YoY YoY YoY Net Sales $656 $645 2% 0% 5% Electronics 465 419 11% 10% 7% Industrial & Specialty 191 226 (16)% (17)% 0% Diluted EPS $0.16 $0.17 Adjusted EBITDA* $147 $143 3% 1% % margin 22.4% 22.1% 30 bps
Slide 5: Third Quarter 2025 Segment Details
Third Quarter 2025 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Assembly $238 5% Improved China volumes, strength in high-performance computing end markets Circuitry $138 13% AI and data center investment together with seasonal smart phone ramp Semiconductor $90
Slide 6: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q3 2025 adjusted free cash flow* of $84 million ▪ Net debt to adjusted EBITDA ratio* of 1.9x on an LTM basis as of September 30, 2025 o Working capital investment of $22 million driven by o Capital structure is
Slide 7: Full Year 2025 Financial Guidance
Full Year 2025 Financial Guidance Updated as of October 2025 On track for adjusted EBITDA* above the high-end of initial guidance and a record full year despite Graphics divestment FY Adjusted EBITDA* $545 million to $550 million FY Adjusted EPS* Approximately $1.45 FY Free Cash Flow* Approximately
Slide 8: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 9: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q3 2025 Q3 2024 Basic common shares outstanding 242 242 Number of shares issuable upon vesting of granted Equity Awards 1 2 2 Adjusted common shares outstanding 244 245 Note: Totals may not sum due to rounding 1. Equity awards with target
Slide 10: Net Income Reconciliation to Adjusted EBITDA
Net Income Reconciliation to Adjusted EBITDA ($ millions) Q3 2025 Q3 2024 Net income $39 $40 Add (subtract): Income tax expense 16 37 Interest expense, net 13 14 Depreciation expense 10 10 Amortization expense 29 29 EBITDA 107 131 Adjustments to reconcile to Adjusted EBITDA: Restructuring expense (i
Slide 11: Net Income Reconciliation to Adjusted EPS
Net Income Reconciliation to Adjusted EPS ($ millions, except per share amounts) Q3 2025 Q3 2024 Net income $39 $40 Net income attributable to non-controlling interests (0) (0) Reversal of amortization expense 29 29 Adjustment to reverse incremental depreciation expense from acquisitions 0 0 Restruc
Slide 12: Net Debt to Adjusted EBITDA Ratio Reconciliation
Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q3 YTD 2025 Q4 2024 2025 Net income $185 $55 $240 Add (subtract): Income tax expense 50 12 62 Interest expense, net 41 14 54 Depreciation expense 30 10 39 Amortization expense 84 28 113 EBITDA 389 119
Slide 13: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended September 30, 2025 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Divestitures Sales Growth Currency Growth Pricing Electronics 11% (1)% 10% (2)% —% 7% Industrial & Specialty (16)% (2)% (17)% —% 17%
Slide 14: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation ($ millions) FY2025 Q3 2025 Q3 2024 Outlook Cash flows from operating activities $100 $99 ~$326 Capital expenditures (17) (13) ~(65) Proceeds from disposal of property, plant and equipment 0 — — Adjustments 0 — $19 Adjusted Free Cash Flow $84 $86 ~$280 Note: To
Slide 15: 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