Q2 FY24 Earnings Presentation

FY24 guidance bridge: Margin expansion tells the story TOTAL FLEX CORE FLEX Revenue Adj. Operating Margin Prior Guidance $30.5B - $31.5B 5.0%-5.2% $2.35 - $2.55 Adj. Earnings Per Share GAAP Earnings Per Share $1.87 - $2.07 Revenue Adj. Operating Margin Adj. Earnings Per Share GAAP Earnings Per Share Prior Expectation $28.4B $29.2B - 4.4% - 4.5% $2.05 - $2.18 $1.59 - $1.71 New Total Flex Guidance $28.1B - $28.8B 5.8% -6.0% A $2.49 - $2.66 B $1.71 - $1.89 New Core Flex Guidance $25.9B $26.5B - 4.8% -4.9% A $2.05 - $2.18 D $1.38 - $1.51 14 A. Total Flex adjusted operating margin does not include the impact of approximately 0.6% for stock-based compensation, 0.5% for restructuring and 0.2% for intangible amortization, compared to GAAP operating margin. Core Flex adjusted operating margin does not include the impact of approximately 0.5% for restructuring, 0.5% for stock-based compensation and 0.2% for intangible amortization (and excludes Nextracker operating income). B. Total Flex adjusted earnings per share excludes $0.39 for stock-based compensation expense, $0.27 for net restructuring charges and $0.13 for net intangible amortization, offset by ($0.01) for tax and noncontrolling interest share of subsidiary's non-GAAP adjustments, compared to GAAP earnings per share. C. Core Flex excludes revenue of $2.3-$2.4 billion and GAAP earnings per share of $0.33-$0.38 representing Nextracker's contribution to Total Flex. D. Core Flex adjusted earnings per share excludes $0.27 for stock-based compensation expense, $0.27 for net restructuring charges and $0.13 for net intangible amortization compared to GAAP earnings per share. flex.

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