#1flex Investor and Analyst Day 2022 March 30, 2022#2flex Investor and Analyst Day 2022 David Rubin Vice President, Investor Relations March 30, 2022#3Risks and Non-GAAP Disclosures This presentation contains forward-looking statements within the meaning of U.S. securities laws, including: statements related to future expected revenues and earnings per share. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. Readers are cautioned not to place undue reliance on these forward- looking statements. These risks include: the effects of the COVID-19 pandemic on our business, results of operations and financial condition; that we may not achieve our expected future revenues and earnings; the effects that the current macroeconomic environment could have on our business and demand for our products; the impact of component shortages and logistical constraints, including their impact on our revenues; uncertainties and risks relating to our ability to successfully complete a transaction for our Nextracker business, including the potential initial public offering of our Nextracker business, including the possibility that we may not be able to consummate the transaction on the expected timeline or at all, or that we will achieve the anticipated benefits, including tax efficiencies, of the transaction; the possibility that we may not fully realize the projected benefits of the Anord Mardix acquisition, including our expectation that the acquisition will be accretive to our fiscal year 2023 adjusted earnings per share; the effects that current credit and market conditions could have on the liquidity and financial condition of our customers and suppliers, including any impact on their ability to meet their contractual obligations to us; the challenges of effectively managing our operations, including our ability to control costs and manage changes in our operations; litigation and regulatory investigations and proceedings; our compliance with legal and regulatory requirements; the possibility that benefits of the Company's restructuring actions may not materialize as expected; that the expected revenue and margins from recently launched programs may not be realized; our dependence on industries that continually produce technologically advanced products with short product life cycles; the short-term nature of our customers' commitments and rapid changes in demand may cause supply chain and other issues which adversely affect our operating results; our dependence on a small number of customers; our industry is extremely competitive; we may be exposed to financially troubled customers or suppliers; geopolitical risk, including the termination and renegotiation of international trade agreements and trade policies, including the impact of tariffs and related regulatory actions; the war in Ukraine and escalating geopolitical tensions as a result of Russia's invasion of Ukraine, including the imposition of economic sanctions on Russia which could lead to the disruption, instability, and volatility in global markets and negatively impact our operations and financial performance, the success of certain of our activities depends on our ability to protect our intellectual property rights and we may be exposed to claims of infringement or breach of license agreements; a breach of our IT or physical security systems, or violation of data privacy laws, may cause us to incur significant legal and financial exposure; we may be exposed to product liability and product warranty liability; and that recently proposed changes or future changes in tax laws in certain jurisdictions where we operate could materially impact our tax expense. In addition, the COVID-19 pandemic increases the likelihood and potential severity of many of the foregoing risks. Additional information concerning these, and other risks is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our annual report on Form 10- K for the fiscal year ended March 31, 2021 and in subsequent quarterly reports on Form 10-Q. The forward-looking statements in this presentation are based on current expectations and Flex assumes no obligation to update these forward-looking statements. Our share repurchase program does not obligate the Company to repurchase a specific number of shares and may be suspended or terminated at any time without prior notice. Please refer to the appendix section of this presentation for reconciliation of the Non-GAAP financial measures to the most directly comparable GAAP measures. If this presentation references historical non-GAAP financial measures, these measures are located on the "Investor Relations" section of our website, www.flex.com along with the required reconciliation to the most comparable GAAP financial measures. Certain forward-looking non-GAAP financial measures are not reconciled to the most directly comparable GAAP measures as the reconciling information is not available without an unreasonable effort. The figures presented in this presentation have been rounded. This may lead to individual values not adding up to the totals presented. The following are components of the Core Flex business segments (excluding Nextracker which is now a separate reporting segment) cited throughout this presentation: 3 Flex Reliability Solutions Automotive: autonomous, connectivity, electrification and smart technologies. Health Solutions: medical devices, medical equipment, and drug delivery. Industrial: capital equipment, industrial devices, renewable. Flex Agility Solutions Communications, Enterprise and Cloud (CEC): data infrastructure, edge infrastructure and communications infrastructure. Lifestyle: appliances, consumer packaging, floorcare, micro mobility and audio. Consumer Devices: mobile and high velocity consumer devices. flex.#4Today's agenda Driving growth in the next era of outsourcing Revathi Advaithi |Chief Executive Officer Next Generation Mobility Mike Thoeny President, Automotive Business Group Digital Healthcare Randy Clark President, Health Solutions Cloud Expansion Michael Hartung President, Agility Solutions Elevating growth and creating shareholder value Paul Lundstrom Chief Financial Officer 4 flex#5flex Investor and Analyst Day 2022 Driving growth in the next era of outsourcing Revathi Advaithi Chief Executive Officer March 30, 2022#6a Today's key messages We have transformed the company and pivoted to growth ($ We have focused on high growth markets driven by secular trends We have driven margin expansion through our operating model We are raising our long-term financial framework flex#7Flex is one of the largest contract manufacturing services companies 38 facilities in AMER 47 facilities in EMEA 55 facilities in APAC 100+ facilities 30 countries 7 160k employees 1k customers int 16k suppliers flex#8We made significant progress on our transformation journey 8 Markets Technology flex. Operations Systems Changed the portfolio mix to higher-margin, strategically aligned businesses Accelerated our growth focus in the right end markets with the right customers Built world-class manufacturing capabilities that have improved margins Strengthened our culture by building our bench strength. to drive a high-performing and inclusive environment flex.#9We are a purpose-driven company Our purpose Make great products for our customers that create value and improve people's lives. Our values and ways of working 9 We support each other as we strive to find a better way Learn and adapt Collaborate and share openly We move fast with discipline We do the right thing always and purpose Honor Lji commitments Respect and value others flex#10We have a strong track record for ESG Environmental Stewarding sustainable operations to reduce our environmental impact 92% (73 MW) increase in renewable energy capacity 7% decrease in operational CO₂e emissions 17% decrease in water consumption 91% of waste diverted Social Nurturing a safe, inclusive work environment and investing in our communities 44% of our total workforce were represented by women .27 Total case incident rate (TCIR) for safety 16.5M Flex-produced masks donated to our employees and local communities 30+ supported projects, benefiting ~200k people, through the Flex Foundation Governance Driving responsible business practices 100% Rated the of new global suppliers screened using criteria to ensure safe working conditions and ethical, environmentally-responsible operations² QualityScore in each of ISS ESG's highest categories: environmental, social and governance 99% of employees completed code of conduct training Rankings and ratings CDP DISCLOSURE INSIGHT ACTION 业 FTSE4Good ISS ESG‣ SUSTAINALYTICS Index Series for the fifth consecutive year #1 scoring on all ESG pillars #1 ranking in sub- industry A-rating for carbon A rating for water 1. Metrics provided are from calendar year 2020 unless otherwise noted 2. Screening applied to suppliers over a certain spend threshold 10 Sustainability Yearbook Member 2022 S&P Global Three consecutive years named in yearbook MSCI AA rating for 2021 flex.#11We now have a stronger and more robust portfolio Regional presence China EMEA North America Other 25% FY18 21% 23% 29% 17% 28% 34% * Excludes Inter Segment Eliminations 11 FY22E Diverse customer base Top 10 Other 41% FY18 59% 21% Balanced business* Agility Reliability Nextracker 3% 5% 35% 35% FY22E FY18 41% FY22E 54% 62% 65% flex#12We have delivered on our commitments Revenue Growth Margin Expansion Earnings Growth Cash Generation FY20 COMMITMENT Organic growth at or above GDP Mid-single digit adjusted operating margins 10%+ annual adjusted earnings per share growth 80% adjusted free cash flow conversion FY22E RESULTS ~6% growth in FY22', 2 after $1.2B in low-value. portfolio exits in FY20 4.5% adjusted operating margin in FY22' up from 3.3% in FY19 ~20% adjusted earnings per share growth in FY21 and FY22' ~80% adjusted free cash. flow conversion despite massive supply chain disruptions² 1. Based on mid-point of guidance for Fiscal Year 2022. 2. Based on average between FY20 through FY22E. 12 flex.#13We are entering a new era of growth flex#14Global complexities are driving a new wave of outsourcing opportunities Digitization of everything Smarter products in every industry create manufacturing complexities requiring advanced capabilities Global uncertainty Unprecedented global challenges necessitate global scale and regionalized sourcing, operations and delivery Sustainability requirements Heightened urgency to address climate change, increasing accountability from sourcing to product end-of-life 1. Source: NVR research report, on Worldwide EMS market, Fortune Business Insights, 2025 14 $600 Billion EMS and outsourcing trend driving a ~5-7% CAGR flex#15We have the right capabilities to win Manufacturing excellence Leveraging industry-leading advanced capabilities to drive productivity, quality and efficiency Technology and domain expertise Utilizing our cross-business synergies to enable a rapid exchange of technology and best practices Global scale and reach Enabling a global footprint to regionalize at scale 15 000 008 0 11 Supply chain resiliency Navigating global complexities through a digitized supply chain to rapidly manage risk across the value chain Value-added services Optimizing product life cycles to improve differentiation and efficiencies flex#1624 End-to-end manufacturing and supply chain capabilities across a global footprint flex Industry 4.0 Full lifecycle management Capabilities for regulated industries Digitized supply chain Resilient, global network of 16,000 suppliers Real-time visibility and analytics 16 flex#17Advanced technologies and value-added services to support customers throughout their lifecycle Connectivity Internet of Things (IoT) flex Human machine interface Power management Design engineering Component services Logistics and fulfillment Circular economy 17 flex#18Our diverse core portfolio iii 18 Automotive Industrial Delivers a competitive advantage across multiple growth drivers Next Generation Mobility Communication Communications, Digital Healthcare Enterprise and Cloud 94 ม Health Solutions Lifestyle Consumer Devices Internet of Things (IoT) B @ Automation Robotics Cloud Expansion Renewables and storage Smart living flex.#19Today, we dive into three high-growth drivers Diverse Core Portfolio Automotive Industrial Communications, Enterprise and Cloud Health Solutions 666 омо Investing in high-growth sub-markets Next Generation Mobility Transition to electrification and ADAS/autonomous is fundamentally transforming the auto industry Digital Healthcare Innovation and modernization have heightened the need for smart, connected, and secure medical devices 19 Lifestyle Consumer Devices Cloud Expansion Massive data growth and technology innovation are driving opportunities from the cloud, to the edge, to endpoints flex.#20We are capitalizing on high-growth opportunities Next Generation Mobility Mike Thoeny | President, Automotive Business Group Digital Healthcare Randy Clark | President, Health Solutions Cloud Expansion Michael Hartung | President, Agility Solutions 20 20 flex#21flex. Investor and Analyst Day | 2022 a2 Next Generation Mobility Mike Thoeny President, Automotive Business Group March 30, 2022 gnivab auomonalu гада iJj92 E - want of penunggot b997 Y 01:8 sib9M 299#22Flex is aligned with the macro trends in mobility 4 Sustainability and emissions Heightened environmental expectations and government regulations to reduce CO2 and improve fuel economy Safety and convenience Drivers expect built-in safety and a seamless driver experience, while governments advance 5-star safety requirements Seamless connectivity Networked to edge / cloud for user connectivity, over- the-air software updates, and smart highways Autonomy: MaaS and DaaS Strong business case for mobility and delivery as a service, anticipating shift in vehicle ownership 22 22 flex#23Leveraging Flex's full capabilities to enable the next generation electric mobility ecosystem Energy and Infrastructure Residential energy storage Grid energy storage. Battery storage for cloud servers 23 B A Next Generation Mobility New vehicle architecture Autonomous and ADAS EV power electronics Residential and commercial EV charging Servers and Communications 5G infrastructure Edge compute Server compute flex#24Our Next Gen Mobility portfolio opens up greater market opportunity 34% CAGR $10B $23B EV power electronics Converters, inverters, battery management systems and on-board chargers EV charging stations Complete commercial and residential EV charging stations 32% CAGR $15B $6B CY21 TAM CY24 TAM CY21 TAM CY24 TAM 20% CAGR $14B $25B CY21 TAM CY24 TAM Autonomous and ADAS Autonomous and advanced driver assistance system compute and sensing Total Available Market (TAM) according to Flex market analysis; all market data is hardware only 24 New vehicle architecture Module up-integration. into scalable domain, zone and central computers 16% CAGR $31B $20B CY21 TAM CY24 TAM flex.#25Our portfolio shift to Next Gen Mobility drives significant above-market growth Flex mobility revenue -50% NGM Core CAGR FY22E Above financial data estimates and projections are from Jan 2022 25 FY25E Growth ↑ Content per vehicle ↑ Design-led business ↑ New mobility and OEM customers ↑ Regional diversification flex#26Our Next Gen Mobility portfolio allows us to capture global growth opportunities Content per vehicle >$300 -$260 -$140 FY18A FY22E FY25E Design-led revenue FY18A FY22E 1.5x FY25E OEM-direct revenue FY18A Above financial data estimates and projections are from Jan 2022 and are for on-vehicle technologies only. 26 Nameplates >700 -600 -460 FY18A 2.5x FY22E FY25E APAC revenue 2x FY22E FY25E FY18A FY22E FY25E flex#27Next Gen Mobility wins validate our strategy FY22 new awarded business $4.4B Total program revenue ~50% Next Gen Mobility revenue 4X Pipeline expansion Key customer spotlight programs GWM Great Wall Motor High Voltage Inverter Leading European OEM Battery Management System Inceptio Technology L3+ Autonomous Driving Computer Luxury European OEM Smart Power Conversion Module NIO ADAS Domain Controller USA-based New Mobility OEM L4 Autonomous Driving Computer All above financials, wins, and launches are from FY22 27 flex#28Flex technology is gaining global recognition and accelerating sustainable growth Automotive News PACE AWARD Automotive News PACE Awards Two finalists, our Smart Power Conversion Module and a collaboration with Baidu on their L4 AVP system Automobile and Parts Magazine An Innovative Technology Award in the Autonomous category for our MARS II ADAS Domain Controller CLEP Awards 2021 Innovation NVIDIA. DRIVE™ CLEPA Innovation Awards Winner in the Environment category for our Smart Power Conversion Module, an integral NGM product NVIDIA DRIVE Orin Partner Announced as a key partner in the NVIDIA DRIVE Orin system-on-a- chip for L2+ to L5 autonomy All above awards and announcements are from FY22 28 flex#29Flex is uniquely positioned to deliver above market growth in Next Gen Mobility Mobility macro trend alignment Sustainability and emissions driving EV growth $100B addressable market expansion 23% CAGR Execution of a winning strategy Next Gen Mobility ecosystem focus Expected double market growth -50% CAGR 29 (月) Safety and convenience Seamless connectivity Autonomy: MaaS and DaaS Flexible business model Global scale and regional reach Proven technology and design CY21 TAM CY24 TAM FY22 NGM FY25 NGM flex#302000 LAST NAME 200000 BASIC INFORMATION 79933-2b No photo More 000000 flex. Investor and Analyst Day | 2022 Profile 79933-2b No photo More 000000 Digital Healthcare Randy Clark Proffe Settings History President, Flex Health Solutions Profile 79933-2b No photo More 000000 March 30, 2022 Record DATA Search 1090 Scanning The recognition process Calculation 57457567687674456651 5476457566679 79325693760956912487807082709794 0901/0909 CYTOSINE NOV 001 78 M 2/P RATE COEFFICENT 997 ETV 143 88 75 PROCESS wwwwwwww NO 94% ll 00067874 NO.66 MST S 001 ΓΑ ADENINE GUANINE YOUR STATISTICS EXCELLENT HEART MONITOR R-9951 FILE NAME 185008 FILE NAME FILE NAME 185098 185098 9-30951 LAST NAME LAST NAME LAST NAME F-93871 000000 XE 正 URACIL UP BASIC INFORMATION BASIC INFORMATION BASIC INFORMATION ORGANIC PROSTHESES ORGANIC PROSTHESES ORGANIC PROSTHESES IMPLANTED CHIP IMPLANTED CHIP IMPLANTED CHIP SOFTWARE SOFTWARE SOFTWARE Profe Profile No photo No photo More 7-936 No photo EXE 7993-20 TWO-> No photo No photo More START ▸ Search Record Herrcheheerder Profile 79933-2b No photo More Profile 79933-2b No photo More More Profile 79933-2b No photo Profile 79933-2b No ph#31Flex is aligned with macro trends driving growth in the healthcare industry M Chronic disease prevalence Increased demand on healthcare systems due to aging population and rise in chronic illnesses 0000 ☐ ☐ ☐ ☐ Shifting site of care delivery Care shifting from hospital to ASC, office, and home, aided by smart and user- friendly devices Cost pressures Increased regulatory burdens, demand for lower- cost devices and value- based payment models. Data-driven healthcare Data and artificial intelligence to transform clinical decision making. 31 flex#32Flex can accelerate and reduce risk as customers transition to new technology Diabetes monitoring devices $16B $14B $12B $10B BGMs CGMs $8B Hospital Meters $6B $4B $2B $OB 1990 1995 2000 2005 2010 2015 2020 2025 2030 BGM: Blood Glucose Meter | CGM: Continuous Glucose Monitor Flex helps OEMs transition to new innovations with speed and less risk Diagnostics Core laboratory Point of care Dialysis Center based Home care Infusion Hospital-based infusions → Wearable drug delivery devices Patient monitoring Large form factors → Wearable devices Minimally-invasive surgeries Open Laparoscopic Robotic → Endoluminal Source: Market Size: Flex Corporate Strategy Group; 2026 - 2030 CGM Market Size 32 flex#33Our focus is aligned with growth markets $140B addressable market $66B Medical Devices TAM Personal diagnostics Advanced surgical tools Disposables $59B Medical TAM Equipment Imaging Diagnostic systems Life science Hospital products Source: TAM market based on GlobalData, Markets and Markets, Technavio and internal research 33 33 PHARMACY $16B Pharma TAM Smart inhalers/injectors Wearable systems Connectivity modules Digital health flex.#34We have the right capabilities to win healthcare manufacturing opportunities Flex-enabled solutions ■ Outsourced ■ Insourced 6% CAGR 18% Vertical integration $140B market opportunity 2022 Global scale and regional reach Circular economy solutions 82% Source: Outsourcing market based on GlobalData, Markets and Markets, Technavio and internal research 34 Technology innovations and expertise flex#3535 55 Increasing scope and scale Case Study: Multi-segment MedTech customer 2018 2021 1 Business unit | 2 Sites | 1 Product 2 Business units | 4 Sites | 5 Products $70M revenue $290M revenue 2023 3 Business units | 5 Sites | 8 Products $390M+ revenue ■Printed circuit board assembly High-level assembly Design Value-added services flex#36Doubling market growth at 12-14% CAGR Favorable market trends Chronic disease prevalence $140B addressable market focus 18% Core capabilities positioning us to win Vertical integration Expected double- digit market growth 12-14% CAGR 0000 Shifting site of care delivery 36 36 Cost pressures Global scale and regional reach 82% Circular economy solutions Data-driven healthcare ■ Outsourced ■Insourced Technology innovations and FY22E FY25E expertise flex#37flex. Investor and Analyst Day 2022 Cloud Expansion Michael Hartung President, Flex Agility Solutions March 30, 2022#38Flex is aligned with global trends driving growth in the Cloud market Digital transformation accelerating 38 G Migration to the Cloud increasing Spend on Cloud services rising Data center build- out climbing flex#39Cloud data center expansion drives strong growth in Critical Power and IT Infrastructure equipment Cloud data center total available market¹ ($B) $16 $15 $123 $14 $111 $13 $99 $87 2021 2022E 2023E 2024E CAGR Critical Power Infrastructure 78%2 IT Infrastructure 712%3 1. Cloud data center total available market includes (1) Public Cloud, data center hosting companies, and (2) Content Cloud, which includes Internet content providers, (3) Private Cloud, and (4) Telco Cloud. 2. Source: IDC; Gartner; Arizton; EY-Parthenon research and analysis, Total Available Market 2021-2024 3. Source: IDC, Gartner, Flex Corporate Strategy (includes server, storage, and networking hardware), 2021-2024 39 flex#40Our broad portfolio covers Critical Power and IT Infrastructure for the data center Critical Power Infrastructure IT Infrastructure 40 Other data center capex spend includes general construction and mechanical infrastructure. Source: IDC, Gartner, Flex Corporate Strategy (includes server, storage, and networking hardware), 2021-2024 flex#41Anord Mardix provides highly engineered Critical Power Solutions Power distribution unit Switchgear Remote power panel- Busway Critical Power Infrastructure IT Infrastructure 41 Other data center capex spend includes general construction and mechanical infrastructure. Source: IDC, Gartner, Flex Corporate Strategy (includes server, storage, and networking hardware), 2021-2024 flex#42Anord Mardix provides highly engineered Critical Power Solutions Modular solution OMARDIX AP Company Critical Power Infrastructure IT Infrastructure 42 Other data center capex spend includes general construction and mechanical infrastructure. Source: IDC, Gartner, Flex Corporate Strategy (includes server, storage, and networking hardware), 2021-2024 flex#43CEC provides design and manufacturing services for IT Infrastructure products ANDR AP Company Q Servers and racks Critical Power Infrastructure IT Infrastructure 43 Other data center capex spend includes general construction and mechanical infrastructure. Source: IDC, Gartner, Flex Corporate Strategy (includes server, storage, and networking hardware), 2021-2024 flex#44We have multiple paths to manufacturing vertically-integrated products Rack Top cover Server motherboard Accelerator and network cards 44 ་་་་་་ ་་་་་་་ ་་་་་་་ Switch Server Storage Power shelf Storage Chassis Power supply/ battery back-up EEE flex#45Our bundled products and services create competitive advantage with multiple pools of profit Design innovation Customized Cloud-specific. design and technology 45 45 Advanced manufacturing Circular economy Optimized for Cloud IT, rack integration, and critical power Sustainable, closed loop suite of services Global scale Resilient supply chains. built on regional solutions End-to-end solutions enable Cloud ecosystems flex#46We expect to grow our Cloud business -20% per year for the next 3 years 46 -20% CAGR FY22E FY25E || - Massive expansion of the Cloud space is being driven by sustainable global trends We have a unique position in the data center to capitalize on market momentum We offer an end-to-end bundled solution to enable Cloud ecosystems -S- $ Delivering long-term growth above the market flex.#47Positioned to drive profitable growth flex#48Investments in high-growth drivers create significant opportunities 78 Next Generation Mobility -50% CAGR Digital Healthcare -14% CAGR -20%+ blended CAGR¹ Cloud Expansion -20% CAGR 1. Blended -20% CAGR based on internal Flex estimates. 48 flex#49Portfolio strength and mix are driving incremental growth Core Flex 3-year CAGR* -20%+ Increased focus in high-growth markets -7%+ Strong diversified portfolio FY22E *Based on Core Flex, excluding Nextracker FY25E 49 High single-digit Core Flex CAGR flex#50Growth, mix and optimization support further margin expansion Margin opportunities throughout FY23-FY25 Mix shift to increase higher value business Core Flex adjusted operating margins* • Higher value markets • Captive market • Synergies Technology to create operational efficiency • Industry 4.0 • Automation . Sustainable operations. Value-added services to expand customer footprint • Design and engineering • Circular economy • E-commerce integration *Based on Core Flex, excluding Nextracker See Risks and Non-GAAP Disclosures for additional information regarding non-GAAP measures. 50 | | | 4.5% 5%+ FY22E FY25E flex#51Improving our long-term financial framework Core Flex* Revenue Growth High single-digit revenue growth Margin Expansion 5%+ adjusted operating margin Earnings Growth Mid-teen adjusted earnings per share growth Cash Generation ~80% adjusted free cash flow conversion *Based on Core Flex, excluding Nextracker See Risks and Non-GAAP Disclosures for additional information regarding non-GAAP measures. 51 flex#52flex Investor and Analyst Day | 2022 Elevating growth and creating shareholder value Paul Lundstrom Chief Financial Officer March 30, 2022#53Key highlights 53 ☑ Executed on our transformation strategy Repositioned Flex to increase exposure to high- growth end markets. Accelerating growth and enhancing value Focusing to capture and deliver profitable growth and margin expansion Confidence in delivering strong, profitable growth Executing through clear, strategic roadmap with defined priorities flex#54Delivered growth and margin expansion Revenue ($M) Adj. Operating Income ($M) -Adj. Operating Margin $26,211 6% 4.5% 4.3% $25,600 3.7% $1,160 3.3% $24,210 $24,124 $898 $872 $1,031 FY19 FY20 FY21 FY22E1 FY19 FY20 FY21 FY22E1 54 +4 Based on mid-point of guidance for Fiscal Year 2022. Adj. Earnings per Share 20% $1.88 $1.57 $1.23 $1.14 FY19 FY20 FY21 FY22E1 FY20-FY22: ~80% Adj. Free Cash Flow Conversion Rate flex#5555 55 Strong track record of delivering high returns through effective capital deployment Return on Invested Capital Deployment of Operating Cash Flow 17.2% 19.6% 20.4% -21% FY19 FY20 FY21 FY22E FY20 - FY22E 18% 37% 36% Capex Share Repurchase ■M&A (Anord Mardix) flex#56Focused investments to further improve our operations and drive growth Capital Expenditures' ($M) 2.4% Focused Investment Strategy -% of Revenue Capex returning to 2% of revenue $631 1.7% 1.5% 1.1% $430 $356 $267 FY19 FY20 FY21 FY22E Strategic growth 2 Margin accretive opportunities Leading edge process technologies Repositioned prior investments 1. Capital Expenditures presented are net and calculated as purchases of property and equipment minus proceeds from the disposition of property and equipment. 56 56 flex#5757 40 Investing with purpose and agility Key strategic considerations ●MARDIX ✓ A Flex Company Synergistic to core businesses Strengthens Flex's Industrial portfolio by expanding offering. of Power products Cross-sell opportunities with existing global customer base in rapidly growing data center market Aligned to long-term growth trends High-value market with sustainable growth trends Strong financial profile; accretive to earnings Margin and EPS accretive Expect -9% revenue growth flex#58Opportunistically returning cash through share repurchases Share Repurchases ($M) Shares Outstanding (M) 58 517 $189 497 493 $260 -$680 $183 461 10% reduction FY19 FY20 FY21 FY22E ~$500 million remaining on current share repurchase authorization. flex#59Financial guidance for FY2023 Total Flex $27.8B revenue EPS Walk 4.8% adj. operating margins' À $1.88 $2.16 adj. earnings per share² J $550M+ adj. free cash flow³ Growth Share Count Supply Chain Inefficiencies Productivity Tax/Interest and Other $2.16 FY22E 1. Adjusted operating margin does not include the impact of approximately 0.4% for stock-based compensation and 0.3% for intangible amortization when compared to GAAP operating margin. 2. Adjusted earnings per share excludes approximately $0.27 for stock-based compensation expense and $0.15 for net intangible amortization which are included in GAAP earnings per share. 3. Adjusted free cash flow excludes approximately $550M capex from GAAP cash flow from operating activities 59 FY23E flex.#60New long-term financial framework Core Flex High single-digit growth revenue 5%+ adj. operating margins Mid-teens growth adj. earnings per share ~80% adj. free cash flow conversion *Based on Core Flex, excluding Nextracker See Risks and Non-GAAP Disclosures for additional information regarding non-GAAP measures. 60 Adj. EPS Growth Core Flex Nextracker $1.73 Mid-teens growth $2.65 FY22E FY25E flex#61Winning value proposition 61 Operational excellence Transformed portfolio and executed with discipline in high-growth markets Unique capabilities positioned to win Advanced global manufacturing, supply chain resilience, cross- business synergies, and value-added services Macro and secular growth drivers Strategic roadmap to address multiple, sustainable growth drivers Strong, profitable growth and margin expansion Confidence in our ability to capture and deliver profitable revenue and margin expansion flex#62flex Q&A For more information, please visit investors.flex.com#63Appendix: Reconciliation of GAAP to Non-GAAP Measures FY19 FY20 FY21 FY22E** ($ 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 $1.88 530 512 506 483 flex#64Appendix: Reconciliation of GAAP to Non-GAAP Measures ($ in Millions)* Net cash used in operating activities Reduction in ABS levels and other Cash collections of ABS positions and other Net Capital Expenditures Adjusted free cash flow*** GAAP free cash flow conversion**** Non-GAAP adjusted free cash flow conversion**** FY20-FY22E** ($459 797 2,564 (1,052) 1,849 -27.5% 79.3% *Amounts may not sum due to rounding. **FY22E adjusted free cash flow are based on our guidance. *** **Adjusted free cash flow is calculated as operating cash flow for the quarter less net capital expenditures. In the first quarter of fiscal year 2019, the adoption of the new cash flow accounting standard resulted in a reclassification of cash flows related to the collection of certain receivables sold through the Company's asset-backed receivable securitization ("ABS") program from operating activities to investing activities. The Company utilizes net cash flow from its various A/R sales programs as a low-cost source to fund operations and as a critical net working capital management tool. The Company views and manages all collections under the programs similarly without bifurcation and accordingly provides the adjustment to reflect adjusted free cash flow inclusive of all collections of receivables sold through the programs. In fiscal year 2021, we proactively and strategically reduced the outstanding balance of our ABS programs which is fully paid and wind down as of FY21 year end. Proceeds from our debt issuance replaced the funding from the ABS programs for working capital purposes. We reduced the balance on this short-term financing products throughout FY21 which had the accounting effect of reducing our cash flow from operations and was excluded from our adjusted free cash flow calculation. Adjusted free cash flow is a non-GAAP financial measure and may not be defined and calculated by other companies in the same manner. ****GAAP free cash flow conversion is calculated by dividing the Company's net cash used in operating activities by GAAP net income for the respective periods. Adjusted free cash flow conversion is calculated by dividing the Company's adjusted free cash flow by Non- GAAP net income for the respective periods. 64 flex#65Appendix: Reconciliation of GAAP to Non-GAAP Measures FY19 FY20 FY21 FY22E** GAAP ROIC* 10.1% 10.0% 15.7% Non-GAAP Adjustments 7.1% 9.5% 4.7% 17.7% 3.0% Non-GAAP ROIC* *** 17.2% 19.6% 20.4% 20.7% *Return on Invested Capital (ROIC) is calculated by dividing the Company's last twelve months after-tax Non-GAAP operating income by the net invested capital asset base as of each date. After-tax non-GAAP operating income excludes charges for stock-based compensation expense, restructuring charges, legal and other, and intangible amortization. The net invested capital asset base is defined as the sum of shareholders' equity plus total debt less cash and cash equivalents averaged over the last five quarters. We believe ROIC is a useful measure in providing investors with information regarding our performance. ROIC is a widely accepted measure of earnings efficiency in relation to total capital employed. We believe that increasing the return on total capital employed, as measured by ROIC, is an effective method to sustain and increase shareholder value. ROIC is not a measure of financial performance under generally accepted accounting principles in the U.S. and may not be defined and calculated by other companies in the same manner. ROIC should not be considered in isolation or as an alternative to net income or loss as an indicator of performance. The above table reconciles ROIC as calculated using after-tax non-GAAP operating income to the same performance measure calculated using the nearest GAAP measure, which is after-tax GAAP operating income. **Based on mid-point of guidance for FY22 *** May not foot due to rounding 65 flex.#66flex Thank you. For more information, please visit investors.flex.com