Slides
Page 1
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Ingram Micro 2026 Q2 Earnings Supplement Another Quarter of Strong Execution 1
Page 2
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Important notice 2 This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “intends,” “plans,” “estimates,” or “anticipates,” or similar expressions which concern our strategy, plans, projections or intentions, but such words are not the exclusive means of identifying forward-looking statements in this presentation. These forward- looking statements are included throughout this presentation and relate to matters such as our industry, growth strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources, and other financial and operating information. By their nature, forward-looking statements: speak only as of the date they are made; are not statements of historical fact or guarantees of future performance; and are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved, and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. Certain important factors that involve risks and uncertainties and that could cause actual results to differ, possibly materially, from our expectations, beliefs, and projections reflected in such forward-looking statements can be found in the “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” sections included in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. There are a number of risks, uncertainties, and other important factors that could cause our actual results to differ materially from the forward-looking statements contained in this presentation. Such risks, uncertainties, and other important factors include, among others, the risks, uncertainties, and factors included within the filings we make with the SEC from time to time and the following: general economic conditions, including the impacts of the ongoing conflicts in the Middle East; our estimates of the size of the markets for our products and services; our ability to identify and integrate acquisitions and technologies into our platform; our plans to continue to expand; our ability to continue to successfully develop and deploy Ingram Micro Xvantage ; our ability to retain and recruit key personnel; the competition our products and services face and our ability to adapt to industry changes and market conditions, including inflation, market volatility, and supply constraints for many categories of technology; current and potential litigation involving us; the global nature of our business, including the various laws and regulations applicable to us now or in the future; the effect of various political, geopolitical, and macroeconomic issues and developments, including changes in tariffs or global trade policies and the related uncertainties associated with such developments, import/export and licensing restrictions, military conflicts, and our ability to comply with laws and regulations we are subject to, both in the United States and internationally; our financing efforts, payment of dividends and stock repurchases; our relationships with our customers, original equipment manufacturers, and suppliers; our ability to maintain and protect our intellectual property; the performance and security of our services, including information processing and cybersecurity provided by third parties; our ownership structure; our dependence upon Ingram Micro Inc. and its controlled subsidiaries for our results of operations, cash flows, and distributions; and our status as a “controlled company” and the extent to which the interests of Platinum Equity, LLC together with its affiliated investment vehicles (“Platinum”) conflict with our interests or the interests of our stockholders. Ingram Micro, Xvantage, and associated logos are trademarks of Ingram Micro Inc. (an indirect subsidiary of Ingram Micro Holding Corporation) or its licensors. This presentation and certain of the remarks made orally contain non-GAAP financial measures. Non-GAAP financial measures include adjusted income from operations, EBITDA, adjusted EBITDA, return on invested capital (“ROIC”), adjusted ROIC, non-GAAP net income, adjusted free cash flow, and non-GAAP EPS. We believe that these non-GAAP financial measures are useful in evaluating our business and the underlying trends that are affecting our performance. These non-GAAP measures are primary indicators that our management uses internally to conduct and measure its business and evaluate the performance of its consolidated operations, ongoing results, and trends. Our management believes these non-GAAP financial measures are useful as they provide meaningful comparisons to prior periods and an alternate view of the impact of acquired businesses. Information regarding these and other non-GAAP financial measures, including reconciliations to the most directly comparable GAAP financial measures, is provided in our quarterly earnings press releases, which are available on our Investor Relations website at https://ir.ingrammicro.com. See also the Appendix. This presentation contains forward-looking estimates of non-GAAP diluted EPS for the fiscal third quarter 2026. We provide this non-GAAP measure to investors on a prospective basis for the same reasons (set forth above) that we provide it to investors on a historical basis. We are unable to provide a reconciliation of our forward-looking estimate of fiscal third quarter 2026 GAAP diluted EPS to a forward-looking estimate of fiscal third quarter 2026 non-GAAP diluted EPS because certain information needed to make a reasonable forward-looking estimate of GAAP diluted EPS for fiscal third quarter 2026 is unreasonably difficult to predict and estimate and is often dependent on future events that may be uncertain or outside of our control, such as unanticipated non-recurring items not reflective of ongoing operations. In addition, we believe such reconciliations would imply a degree of precision that would be confusing or misleading to investors. The unavailable information could have a significant impact on our future financial results. Our forward-looking estimates of both GAAP and non-GAAP measures of our financial performance may differ materially from our actual results and should not be relied upon as statements of fact.
Page 3
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Q2 2026 financial highlights 3 Key Takeaways: • Double-digit year-over-year growth across all key metrics, driven by strong momentum across primary business lines and geographies; beat high end of each guidance range for the quarter • Strong operating leverage with adjusted income from operations growing nearly 3x faster than net sales, driven by consistent execution on strategic initiatives and focus on quality of business that drove growth, profitability, and efficiency (1) Variance is on a USD basis (2) Refer to Appendix for GAAP to Non-GAAP reconciliations Q2 2026 Y/Y Growth (1) Net Sales ($B) $ 14.5 +13.6% Gross Profit ($M) $ 959 +14.2% Adjusted Income from Operations(2) ($M) $ 280 +39.6% Non-GAAP Diluted EPS(2) ($) $ 0.82 +34.4%
Page 4
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Adjusted EBITDA +21.0% y/y $14.5B Net Sales +13.6% y/y, above high end of guidance Snapshot – Q2 2026 4.97% Opex % of Net Sales 47bps better y/y $959M Gross Profit +14.2% y/y, above high end of guidance $191M Non-GAAP Net Income +34.5% y/y $0.82 Non-GAAP Diluted EPS +34.4% y/y, above high end of guidance (1) Variance is on a USD basis (2) Refer to Appendix for GAAP to Non-GAAP reconciliations (1) (2) (2) (2) (1) (1) $356M (1) 4 (1)
Page 5
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Adjusted EBITDA +17.5% y/y $28.5B Net Sales +13.6% y/y Snapshot – H1 2026 5.00% Opex % of Net Sales 28bps better y/y $1.9B Gross Profit +13.0% y/y $367M Non-GAAP Net Income +28.0% y/y $1.57 Non-GAAP Diluted EPS +28.7% y/y (1) Variance is on a USD basis (2) Refer to Appendix for GAAP to Non-GAAP reconciliations (1) (2) (2) (2) (1) (1) $687M (1) 5 (1)
Page 6
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Xvantage measurable ROI on display 6 + 43% YoY growth in Email-to-Order Representing ~$1.4B in revenue processed through AI-enabled workflows Self-service order mix reached 70%, driving improved efficiency and scalability 2.4M Self-serve orders, up 12% YoY (1) Metrics presented herein relate exclusively to Q2 2026 results. (1) IDA-supported opportunities converted at ~4x the rate of traditional quotes ~$1B net revenue generated by IDA, ~7% of total net revenue
Page 7
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Continuing to expand our IP Vendor Agnostic Data Forms (VAF) Email-to- Quote (ETQ) Email-to-Order (ETO) Automated Configure- to-Order & Quote-to- Order (CTO & QTO) Dynamic SKU Generation Systems and Methods for Ingesting Agnostic Data Forms for Vendors Standardizes fragmented vendor data into one reusable framework. Automating Complex Configuration and Quoting Automates product configuration, pricing, and quote-to-order conversion. Systems and Methods for Automated Configure-to-Order and Quote-to-Order Automates complex configuration, pricing, and quote-to-order conversion for higher-value solutions. Automating Email-to-Order Using Generative AI Transforms inbound emails into structured, executable orders with AI. Adapts ETQ technology to turn emailed requests into structured, actionable quotes. 1 2 3 4 Enables resellers to manage and transact with their end customers directly in Xvantage, advancing a single pane of glass that simplifies the B2B experience. Interprets real-time signals to surface personalized insights and recommended actions, laying the foundation for Ingram Micro's intelligent operating system. End-User View (B2B/B2C Mode) AI-Powered Alerts & Notifications5 6 7 NEW PATENTS
Page 8
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. MCP enables a new era: agents talking to agents Customer AI Agent The reseller’s own agent Ingram Micro Agent MCP Server — one endpoint Token-based authentication • no middleware Called directly — multiple tools, one endpoint Product catalog Quoting Orders & order status Pricing & availability Invoices & renewals Runs the reseller’s operations stack One endpoint — machine to machine After seeing how well Ingram’s MCP worked, we built our own MCPs integrated with ConnectWise and HubSpot for our team to use... It saves us time and allows us to better serve our customers.” — Matrix Integration, live customer since January “ 8
Page 9
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Enable AI program expanding rapidly 9 (1) Metrics presented herein relate exclusively to Q2 2026 results. +60% QoQ partner engagement growth More partners engaged in the Enable AI program as adoption continues to accelerate. ~2x QoQ movement into AI business case deployment Customers are progressing from AI exploration toward deployment-focused business cases. (1)
Page 10
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. 10 Google Cloud and Ingram Micro are working together to remove the complexity from IT distribution with the Xvantage platform. Through this unified platform, we’re giving enterprises the ability to transform the way they service customers across every industry. Together, we look forward to partnering further to bring Gemini models and agentic AI to even more organizations.” “ — Thomas Kurian, CEO of Google Cloud
Page 11
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Q2 Net Sales by geography Q2 2026 geographic and business mix performance Inner Circle: Q2 2025 Outer circle: Q2 2026 11 Q2 Net Sales growth by LOB (1) Cloud Adv Sol CES Other +46.9% +14.2% +13.2% -7.7% Q2 Adjusted Income from Operations by geography (2) Inner Circle: Q2 2025 Outer circle: Q2 2026 (1) Variance is on a USD basis (2) Adjusted Income from Operations percentages exclude stock- and cash-based compensation expense and are calculated as a percentage of total regional Adjusted Income from Operations
Page 12
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. H1 Net Sales by geography H1 2026 geographic and business mix performance 12 H1 Net Sales growth by LOB (1) H1 Adjusted Income from Operations by geography (2) Inner Circle: H1 2025 Outer circle: H1 2026 Inner Circle: H1 2025 Outer circle: H1 2026 Cloud Adv Sol CES Other +38.2% +15.9% +12.5% -6.4% (1) Variance is on a USD basis (2) Adjusted Income from Operations percentages exclude stock- and cash-based compensation expense and are calculated as a percentage of total regional Adjusted Income from Operations
Page 13
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Mix drives profitability: line of business 13 % Net Sales Gross Margin Working Capital Days Labor Mix / Automation Client and Endpoint Solutions 63% Low-to-Mid Single Digits 24 to 30 days Low labor costs / high automation Advanced Solutions 35% Mid Single Digits to Low Double Digits 30 to 36 days Higher technical labor costs with automation augmenting Cloud 1% High Double Digits -5 to +5 days Automation-heavy model Other 1% Mid Double Digits ~10 Days Service-led, more labor- intensive model
Page 14
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Q2 2026 double-digit growth for all key metrics % Y/Y Change Net Sales ($B) Gross Profit ($M) Adjusted EBITDA ($M) (2) Non-GAAP Net Income ($M) % Y/Y Change (2) 14 12.8 14.5 2025Q2 2026Q2 839 959 2025Q2 2026Q2 142 191 2025Q2 2026Q2 +13.6% +14.2% +21.0% +34.5% % Y/Y Change % Y/Y Change 294 356 2025Q2 2026Q2 (1)(1)(1)(1) (1) Variance is on a USD basis (2) Refer to Appendix for GAAP to Non-GAAP reconciliations
Page 15
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Strong balance sheet $3.1B of available liquidity under committed receivable- backed facilities 2.6x Total debt / Q2 2026 TTM Adjusted EBITDA (0.2x better y/y) 2.0x Net debt / Q2 2026 TTM Adjusted EBITDA (0.2x better y/y) 15
Page 16
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Disciplined capital allocation supporting growth, shareholder returns, and balance sheet strength Capital allocation strategy 16 Effective management of working capital investments through high growth cycle, as reflected in working capital days and return on working capital Working Capital Discipline Enhance Shareholder Value Return Capital $30M of cash utilized in May for share repurchase with follow-on stock offering, with additional $70M authorized for future repurchases Dividend of $19 million paid to shareholders during the 2nd quarter; announced 2.4% sequential increase for next dividend to be paid in Q3 Annual FCF
Page 17
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Q3 2026 guidance 17 Key Takeaways: • 7.5%–10.7% sales growth guidance marks the strongest outlook since IPO • High end guide for non-GAAP diluted EPS represents growth of 14% YoY , reflecting sustained operating leverage and earnings momentum (USD millions except EPS) Low High Midpoint Net Sales 13,550 13,950 13,750 YoY Growth 7.5% 10.7% 9.1% Gross Profit 910 955 933 NonGAAP Diluted EPS 0.72$ 0.82$ 0.77$ Q3 FY26 Guidance Ranges
Page 18
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. Appendix 18
Page 19
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. GAAP to Non-GAAP reconciliations Adjusted Income from Operations 19 ($ in thousands) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Income from operations $ 235,970 $ 142,816 $ 458,885 $ 343,680 Amortization of intangibles 21,659 21,867 43,343 43,297 Restructuring costs 8,290 21 17,750 1,954 Integration and transition costs 14,462 36,123 22,733 41,179 Adjusted income from operations $ 280,381 $ 200,827 $ 542,711 $ 430,110
Page 20
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. GAAP to Non-GAAP reconciliations Adjusted EBITDA 20 ($ in thousands) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Net income $ 110,866 $ 37,826 $ 209,736 $ 107,015 Interest income (14,897) (10,065) (25,142) (23,883) Interest expense 76,253 72,884 146,789 147,773 Provision for income taxes 46,677 22,059 88,416 53,273 Depreciation and amortization 49,275 49,950 98,965 97,981 EBITDA $ 268,174 $ 172,654 $ 518,764 $ 382,159 Restructuring costs 8,290 21 17,750 1,954 Net foreign currency exchange loss 11,716 20,611 11,414 44,328 Integration, transition and operational improvement costs 38,847 82,799 77,554 116,882 Cash-based compensation expense 2,629 5,475 2,798 9,968 Stock-based compensation expense 11,009 6,325 24,211 9,089 Other 15,115 6,064 34,486 20,360 Adjusted EBITDA $ 355,780 $ 293,949 $ 686,977 $ 584,740
Page 21
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. GAAP to Non-GAAP reconciliations ROIC 21 ($ in thousands) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Net income $ 110,866 $ 37,826 $ 209,736 $ 107,015 Stockholders' equity 4,280,022 4,047,646 4,280,022 4,047,646 Long-term debt 2,558,665 3,039,545 2,558,665 3,039,545 Short-term debt and current maturities of long-term debt 1,236,764 690,801 1,236,764 690,801 Cash and cash equivalents (808,973) (856,668) (808,973) (856,668) Invested capital $ 7,266,478 $ 6,921,324 $ 7,266,478 $ 6,921,324 Return on invested capital 6.1 % 2.2 % 5.8 % 3.1 % Period in weeks for non-52 week periods 13 13 26 26 Number of weeks 52 52 52 52
Page 22
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. GAAP to Non-GAAP reconciliations Adjusted ROIC 22 (a) Tax impact of pre-tax adjustments reflects the current and deferred income taxes associated with the above pre-tax adjustments in arriving at adjusted net income ($ in thousands) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Net income $ 110,866 $ 37,826 $ 209,736 $ 107,015 Pre-tax adjustments: Other (income) expense 78,427 82,931 160,733 183,392 Amortization of intangibles 21,659 21,867 43,343 43,297 Restructuring costs 8,290 21 17,750 1,954 Integration and transition costs 14,462 36,123 22,733 41,179 Tax adjustments: Tax impact of pre-tax adjustments (a) (35,933) (33,968) (67,299) (67,061) Other discrete items (1,324) (204) (1,672) (97) Adjusted net income $ 196,447 $ 144,596 $ 385,324 $ 309,679 Stockholders' equity 4,280,022 4,047,646 4,280,022 4,047,646 Long-term debt 2,558,665 3,039,545 2,558,665 3,039,545 Short-term debt and current maturities of long-term debt 1,236,764 690,801 1,236,764 690,801 Cash and cash equivalents (808,973) (856,668) (808,973) (856,668) Invested Capital $ 7,266,478 $ 6,921,324 $ 7,266,478 $ 6,921,324 Number of Days 91 91 182 182 Adjusted return on invested capital 10.8 % 8.4 % 10.6 % 8.9 %
Page 23
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. ($ in thousands) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Net income $ 110,866 $ 37,826 $ 209,736 $ 107,015 Pre-tax adjustments: Amortization of intangibles 21,659 21,867 43,343 43,297 Restructuring costs 8,290 21 17,750 1,954 Net foreign currency exchange loss 11,716 20,611 11,414 44,328 Integration, transition and operational improvement costs 38,847 82,799 77,554 116,882 Cash-based compensation expense 2,629 5,475 2,798 9,968 Stock-based compensation expense 11,009 6,325 24,211 9,089 Other items 12,609 4,218 29,089 16,543 Tax Adjustments: Tax impact of pre-tax adjustments (a) (24,937) (36,608) (47,350) (62,469) Other miscellaneous tax adjustments (1,324) (204) (1,672) (97) Non-GAAP net income $ 191,364 $ 142,330 $ 366,873 $ 286,510 GAAP to Non-GAAP reconciliations Non-GAAP Net Income 23 (a) Tax impact of pre-tax adjustments reflects the current and deferred income taxes associated with the above pre-tax adjustments in arriving at non-GAAP net income
Page 24
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. GAAP to Non-GAAP reconciliations Adjusted Free Cash Flow 24 ($ in thousands) Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Net income $ 110,866 $ 37,826 $ 209,736 $ 107,015 Depreciation and amortization 49,275 49,950 98,965 97,981 Other non-cash items and changes to non-working capital assets/liabilities (170,955) (87,637) (349,201) (226,072) Changes in working capital (522,403) (298,099) (1,470,594) (477,314) Cash used in operating activities $ (533,217) $ (297,960) $ (1,511,094) $ (498,390) Capital expenditures (32,920) (35,224) (69,223) (64,961) Proceeds from deferred purchase price of factored receivables 38,795 70,414 90,629 141,445 Adjusted free cash flow $ (527,342) $ (262,770) $ (1,489,688) $ (421,906)
Page 25
Proprietary information of Ingram Micro — Do not distribute or duplicate without Ingram Micro's express written permission. GAAP to Non-GAAP reconciliations Basic and Diluted EPS 25 (a) GAAP and non-GAAP diluted EPS for the Thirteen Weeks Ended June 27, 2026 and June 28, 2025, and the Twenty-Six Weeks Ended June 27, 2026, and June 28, 2025 includes 779,306, 90,280, 634,760, 102,728, respectively, of outstanding restricted stock units that are dilutive Thirteen Weeks Ended June 27, 2026 Thirteen Weeks Ended June 28, 2025 Twenty-Six Weeks Ended June 27, 2026 Twenty-Six Weeks Ended June 28, 2025 Diluted EPS - GAAP (a) $ 0.48 $ 0.16 $ 0.90 $ 0.46 Amortization of intangibles 0.09 0.09 0.19 0.18 Restructuring costs 0.04 0.00 0.08 0.01 Net foreign currency exchange loss 0.05 0.09 0.05 0.19 Integration, transition and operational improvement costs 0.17 0.35 0.33 0.50 Cash-based compensation expense 0.01 0.02 0.01 0.04 Stock-based compensation expense 0.05 0.03 0.10 0.04 Other items 0.05 0.02 0.12 0.07 Tax Adjustments: Tax impact of pre-tax adjustments (0.11) (0.15) (0.20) (0.27) Other miscellaneous tax adjustments (0.01) 0.00 (0.01) 0.00 Non-GAAP diluted EPS (a) $ 0.82 $ 0.61 $ 1.57 $ 1.22