Arrow's ESG and Financial Overview

Return on invested capital reconciliation ($ in thousands) Numerator: Consolidated operating income, as reported Equity in earnings of affiliated companies (1) Less: Noncontrolling interests (1) Consolidated operating income, as adjusted Less: Tax effect (2) After-tax consolidated operating income, as adjusted Annualized after-tax consolidated operating income, as adjusted Non-GAAP consolidated operating income Equity in earnings of affiliated companies Less: Noncontrolling interests (1) (1) Non-GAAP consolidated operating income, as adjusted Less: Tax effect (3) After-tax non-GAAP consolidated operating income, as adjusted Quarter Ended December 31, 2023 December 31, 2022 $ 316,679 2,034 1,669 317,044 522,596 2,938 4,659 520,875 68,590 248,454 130,298 390,577 x4 x4 993,816 1,562,308 +A $ 363,834 533,480 2,034 1,800 2,938 4,786 364,068 531,632 79,681 132,895 284,387 398,737 x4 x4 1,137,548 $ 1,594,948 Annualized after-tax non-GAAP operating income, as adjusted Denominator: Average short-term borrowings, including current portion of long- term debt (4) $ 1,621,308 Average long-term debt (4) 2,384,277 Average total equity (4) 5,715,391 Average cash and cash equivalents Invested capital Return on invested capital Return on invested capital (Non-GAAP) Now 275,673 9,445,303 10.5% 12.0% 597,202 3,184,995 5,457,020 255,450 8,983,767 17.4% 17.8% (1) Operating income, as reported, and non- GAAP operating income is adjusted for noncontrolling interest and equity in earnings of affiliated companies to include the pro-rata ownership of non-wholly owned subsidiaries. (2) The tax effect is calculated by applying the effective tax rate for the three months ended December 31, 2023 and December 31, 2022 to consolidated operating income, as adjusted. The tax rate is adjusted to exclude the impacts of interest expense, gain on investments, net, and employee benefit plan expense, net. (3) The tax effect is calculated by applying the non-GAAP effective tax rate for the three months ended December 31, 2023 and December 31, 2022 to non-GAAP consolidated operating income, as adjusted. The tax rate is adjusted to exclude the impacts of interest expense and employee benefit plan expense, net. (4) The quarter ended average is based on the addition of the account balance at the end of the most recently-ended quarter to the account balance at the end of the prior quarter and dividing by two. 43

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