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PLEXUS CONFIDENTIAL FISCAL FOURTH QUARTER AND FISCAL 2025 HIGHLIGHTS October 22, 2025
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PLEXUS CONFIDENTIAL Some of the statements made and information provided during our call as well as information included in the supporting materials will be forward looking statements, including, without limitation, those regarding revenue, gross margin, selling and administrative expense, operating margin, other income and expense, taxes, cash cycle, capital allocation and future business outlook. Forward-looking statements are not guarantees since there are inherent difficulties in predicting future results, and actual results could differ materially from those expressed or implied in the forward-looking statements. For a list of factors that could cause actual results to differ materially from those discussed, please refer to the Companyʼs periodic SEC filings, particularly the risk factors in our Form 10K filing for the fiscal year ended September 28, 2024, as supplemented by the Safe Harbor and Fair Disclosure statement in our press release detailing our quarterly results. SAFE HARBOR AND FAIR DISCLOSURE STATEMENT 2
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PLEXUS CONFIDENTIAL OUR VISION WE HELP CREATE THE PRODUCTS THAT BUILD A BETTER WORLD OUR MISSION THE LEADER IN HIGHLY COMPLEX PRODUCTS AND DEMANDING REGULATORY ENVIRONMENTS FISCAL FOURTH QUARTER AND FISCAL YEAR THEMES New program ramps and share gains position Plexus to accelerate revenue growth toward 912% goal. Focused on 6% non-GAAP operating margin, while investing in talent, technology, facilities and advanced capabilities. Sustaining robust free cash flow; $495 million in F24F25 and approximately $100 million for F26. 3
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PLEXUS CONFIDENTIAL FINANCIAL RESULTS Excludes stock-based compensation expense ● 3rd consecutive quarter of sequential revenue growth ● Non-GAAP EPS of $2.14 exceeded guidance ● Q4F25 free cash flow of $97 million exceeded projections ● 40 bps expansion in F25 non-GAAP operating margin ● 30% non-GAAP EPS growth for F25 4
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PLEXUS CONFIDENTIAL WINS AND FUNNEL HIGHLIGHTS ● Q4F25 wins of $274 million reflected further share gains ● Diversification drove growth in fiscal 2025 engineering solutions wins ● Record fiscal 2025 wins in sustaining services ● Sequential and year-over-year growth in funnel 5 * Inclusive of sustaining services
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PLEXUS CONFIDENTIAL SUSTAINABILITY | FISCAL 2025 HIGHLIGHTS ● GE Vernovaʼs “Supplier Innovation Awardˮ for strategic engagement and collaboration ● Global team members completed more than 32,000 paid volunteer time off hours, an increase of 47% year over year ● The Plexus Community Foundation granted $1.4 million to global non-profits ● Reduced waste-to-landfill intensity by over 30% globally, exceeding our goal ● Reduced absolute Scope 1 & 2 emissions by over 10% across global manufacturing sites vs. F23 baseline INNOVATING RESPONSIBLY FOR AND THROUGH OUR PEOPLE, OUR SOLUTIONS & OUR OPERATIONS - BUILT ON A FOUNDATION OF TRUST & TRANSPARENCY - CREATING CUSTOMER SUCCESS | “SUPPLIER INNOVATION AWARDˮ FROM GE VERNOVA 6
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PLEXUS CONFIDENTIAL FINANCIAL GUIDANCE ● Q1F26 revenue of $1.050 billion to $1.090 billion ● Investments in growth and operational efficiencies ● Q1F26 non-GAAP EPS of $1.66 to $1.81 ● Accelerating F26 revenue growth toward 912% goal ● F26 free cash flow of approximately $100 million Excludes stock-based compensation expense Represents midpoint of guidance 7
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PLEXUS CONFIDENTIAL MARKET SECTOR PERFORMANCE AEROSPACE/DEFENSE ● Wins highlights: ○ Expanded relationship in unmanned aircraft ○ Record year for Aerospace/Defense engineering solutions Q1F26 Expectations Up mid single ● Q4F25 missed expectations on program ramp timing ● Q1F26 growth from program ramps in commercial aerospace, defense and unmanned aircraft ● F26 growth expected to meet or exceed 912% goal reflecting program ramps in defense, unmanned aircraft and commercial aerospace8 Q4F25 vs. Q3F25 - 6%
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PLEXUS CONFIDENTIAL MARKET SECTOR PERFORMANCE HEALTHCARE/LIFE SCIENCES Q1F26 Expectations Up high single to low double Q4F25 vs. Q3F25 + 1% ● Q4F25 met expectations ● Q1F26 benefiting from multiple program ramps and some customer demand strength ● F26 growth expected to meet or exceed 912% goal supported by ongoing and new program ramps 9 ● Wins highlights: ○ Sustaining services win with leading healthcare company ○ New customer in support of AI-powered digital cell analysis
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PLEXUS CONFIDENTIAL ● Q4F25 beat expectations on strength in semicap, broadband communications and energy ● Q1F26 weakness on seasonality and muted near-term demand ● Anticipate modest F26 growth benefiting from strength in semicap and growth in energy MARKET SECTOR PERFORMANCE INDUSTRIAL Q1F26 Expectations Down high single Q4F25 vs. Q3F25 + 11% 10 ● Wins highlights: ○ Robust semicap performance ○ Added relationship with a transportation customer subsidiary
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PLEXUS CONFIDENTIAL Funnel Supports Continued Strength in Manufacturing Wins 11 QUALIFIED MANUFACTURING FUNNEL TRENDS * Inclusive of sustaining services
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PLEXUS CONFIDENTIAL INCOME STATEMENT Q4F24 Q3F25 Q4F25 Actual Q4F25 Guidance Revenue $1.051 billion $1.018 billion $1.058 billion $1.025 billion to $1.065 billion Gross margin 10.3% 10.1% 9.9% 9.8% to 10.1% Selling & administrative expense * $54.1 million $49.7 million $51.7 million $50.0 to $51.0 million GAAP operating margin * 5.1% 5.3% 5.0% 5.0% to 5.4% Non-GAAP operating margin 6.2% 6.0% 5.8% 5.7% to 6.1% Non-operating expense $8.4 million $3.8 million $3.4 million Approximately $4.5 million GAAP diluted EPS * $1.48 $1.64 $1.87 $1.57 to $1.72 Non-GAAP diluted EPS $1.85 $1.90 $2.14 $1.82 to $1.97 Includes stock-based compensation expense 12
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PLEXUS CONFIDENTIAL CASH FLOW AND BALANCE SHEET Q4F24 Q3F25 Q4F25 Free cash flow $193.8 million $13.2 million $97.2 million Share repurchases $19.5 million $18.4 million $21.5 million Cash balance $347 million $238 million $307 million Total debt $247 million $143 million $138 million Return on invested capital 11.8% 14.1% 14.6% Cash cycle days 64 days 69 days 63 days 13
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PLEXUS CONFIDENTIAL WORKING CAPITAL TRENDS Q4F24 Q1F25 Q2F25 Q3F25 Q4F25 Days in Accounts Receivable 54 56 57 59 57 Days in Contract Assets 10 12 12 13 13 Days in Inventory 127 134 132 128 118 Days in Accounts Payable 59 69 70 72 70 Days in Advanced Payments 68 65 63 59 55 Net Cash Cycle Days 64 68 68 69 63 14
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PLEXUS CONFIDENTIAL FISCAL FIRST QUARTER 2026 GUIDANCE Q1F25 Q4F25 Q1F26 Guidance Revenue $976 million $1.058 billion $1.050 billion to $1.090 billion GAAP diluted EPS * $1.34 $1.87 $1.40 to $1.55 Non-GAAP diluted EPS $1.73 $2.14 $1.66 to $1.81 Gross margin 10.3% 9.9% 9.8% to 10.1% Selling & administrative expense * $49.1 million $51.7 million $51.5 to $52.5 million GAAP operating margin * 4.8% 5.0% 4.9% to 5.3% Non-GAAP operating margin 6.0% 5.8% 5.6% to 6.0% Depreciation and amortization $19.4 million $19.3 million Approximately $20 million Non-operating expense $3.4 million $3.4 million Approximately $4.6 million Effective tax rate 14% 4% 16% to 18% Diluted weighted average shares outstanding 27.8 million 27.4 million 27.3 million Cash cycle days 68 63 66 to 70 days Includes stock-based compensation expense15
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PLEXUS CONFIDENTIAL Q&A Thank you. 16