Q2 FY24 Earnings Presentation

Appendix: Reconciliation of GAAP to Non-GAAP Measures Quarter- ended September 29, 2023 Quarter- Ended September 29, 2023 ($ in Millions) Segment income: Flex Agility Solutions $168 Flex Reliability Solutions 171 ($ in Millions) Reconciliation of segment income GAAP Operating Income Intangible amortization $376 17 Nextracker 112 Stock-based compensation expense 45 Corporate and Other* (12) Restructuring charges 1 Total segment income: $439 Total segment income $439 Operating margin**: Flex Agility Solutions 23 Flex Reliability Solutions Nextracker 4.6% 5.2% 19.5% *Corporate and Other includes centralized administrative costs that are not included in the assessment of the performance of each of the identified segments. **We calculate our segment operating margin as segment income divided by revenue for respective periods. For more details on the GAAP to Non-GAAP adjustments for current and historical periods, please refer to the Investor Relations section of our website which includes press releases and summary financials of the respective periods. flex

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