Slide 1: First Quarter 2025 Earnings Presentation
First 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: First Quarter 2025 Financial Results
First Quarter 2025 Financial Results Constant Currency* Organic* ($ in millions) Q1 2025 Q1 2024 YoY YoY YoY Net Sales $594 $575 3% 6% 5% Electronics 394 349 13% 15% 10% Industrial & Specialty 199 226 (12)% (7)% (2)% GAAP Diluted EPS $0.40 $0.23 Adj. EBITDA* $128 $127 1% 5% % margin 21.6% 22.1% (50)
Slide 4: First Quarter 2025 Segment Details
First Quarter 2025 Segment Details Electronics Net Sales Organic Key Drivers ($ in millions) Growth* Consumer electronics growth in Asia and the Americas; strong datacenter demand Assembly $194 8% offsetting weaker automotive environment Circuitry $120 8% Growth from continued AI/data center investm
Slide 5: Balance Sheet and Cash Flow Considerations
Balance Sheet and Cash Flow Considerations Key Cash Flow Items Balance Sheet Management ▪ Q1 2025 adjusted free cash flow* of $30 million ▪ Net debt to adj. EBITDA ratio* of 2.1x on an LTM basis as of March 31, 2025 ▪ Seasonal impact of bonus payments o Prepaid $200 million of term loans, reducing p
Slide 6: Full Year 2025 Financial Guidance
Full Year 2025 Financial Guidance Updated as of April 2025 Given uncertainty over tariffs and the ultimate extent of their impact on demand, we are retaining our prior guidance. Nimble, local supply chain should insulate the company from the cost impact of duties and improved FX provides partial buf
Slide 7: Appendix
Appendix Enabling Technology. Growing Sustainably.
Slide 8: Reconciliation to Adjusted Share Counts
Reconciliation to Adjusted Share Counts (amounts in millions) Q1 2025 Q1 2024 Basic common shares outstanding 243 242 Number of shares issuable upon vesting of granted Equity Awards 1 2 2 Adjusted common shares outstanding 245 245 Note: Totals may not sum due to rounding 1. Equity awards with target
Slide 9: Net Income Reconciliation to Adjusted EBITDA
Net Income Reconciliation to Adjusted EBITDA ($ millions) Q1 2025 Q1 2024 Net income $98 $56 Add (subtract): Income tax expense 18 14 Interest expense, net 14 14 Depreciation expense 10 10 Amortization expense 27 30 EBITDA 167 124 Adjustments to reconcile to Adjusted EBITDA: Restructuring expense 1
Slide 10: Net Income Reconciliation to Adjusted EPS
Net Income Reconciliation to Adjusted EPS ($ millions, except per share amounts) Q1 2025 Q1 2024 Net income $98 $56 Reversal of amortization expense 27 30 Adjustment to reverse incremental depreciation expense from acquisitions 0 0 Restructuring expense 1 2 Acquisition, divestiture and integration e
Slide 11: Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis
Net Debt to Adjusted EBITDA Ratio Reconciliation on a Trailing Twelve Month Basis ($ millions) LTM Q1 YTD 2025 Q2 2024 Q3 2024 Q4 2024 2025 Net income $98 $93 $40 $55 $287 Add (subtract): Income from discontinued operations, net of tax — (2) — — (2) Income tax expense (benefit) 18 (18) 37 12 49 Inte
Slide 12: Organic Net Sales Growth Reconciliation
Organic Net Sales Growth Reconciliation Three Months Ended March 31, 2025 Change in Pass- Reported Net Constant Organic Net Sales Impact of Currency Through Metals Divestiture Sales Growth Currency Growth Pricing Electronics 13% 2% 15% (5)% —% 10% Industrial & Specialty (12)% 4% (7)% —% 6% (2)% Tota
Slide 13: Free Cash Flow and Adjusted Free Cash Flow Reconciliation
Free Cash Flow and Adjusted Free Cash Flow Reconciliation ($ millions) Q1 2025 Q1 2024 Cash flows from operating activities $26 $58 Capital expenditures (11) (19) Proceeds from disposal of property, plant and equipment 0 — Adjustments 15 Free cash flow $30 $39 Note: Totals may not sum due to roundin
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