Flex Corporate Strategy

Appendix: Reconciliation of GAAP to Non-GAAP Measures FY19 FY20 FY21 FY22E** ($ in millions, except per share amounts)* GAAP Operating Income $476 $415 $795 $980 Intangible amortization 74 64 62 68 Stock-based compensation expense 76 71 79 93 Restructuring charges 113 216 101 15 Customer related asset impairments (recoveries) 87 106 (7) (3) Legal and other 46 26 1 7 Non-GAAP Operating Income $872 $898 $1,031 $1,160 Non-GAAP Operating Margin*** 3.3% 3.7% 4.3% 4.5% GAAP Net income $93 $88 $613 $931 Intangible amortization 74 64 62 68 Stock-based compensation expense 76 71 79 Restructuring Charges 113 216 101 93 15 Customer related asset impairments (recoveries) 87 106 (7) (3) Legal and other 46 26 1 7 Interest and other, net 110 93 (27) (131) Adjustments for taxes 4 (34). (28) (74) Non-GAAP net income $603 $632 $795 $906 Diluted earnings per share: GAAP Non-GAAP Diluted shares used in computing per share amounts *Amounts may not sum due to rounding. ** Based on mid-point of guidance for FY22 ***We calculate our Non-GAAP operating margin as the fiscal year Non-GAAP operating income divided by fiscal year revenue. 63 $0.18 $0.17 $1.21 $1.14 $1.23 $1.57 $1.93 $1.88 530 512 506 483 flex

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