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PLEXUS CONFIDENTIAL FISCAL FIRST QUARTER 2026 HIGHLIGHTS January 28, 2026
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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 27, 2025, 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 FIRST QUARTER THEMES Program wins, share gains and improving market demand position Plexus in F26 to meet or exceed high end of 912% revenue growth goal. Forecast strong F26 operating leverage inclusive of investments in talent, technology, facilities and advanced capabilities. Forecast approximately $100 million of F26 free cash flow while investing to support robust anticipated F26 revenue growth. 3
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PLEXUS CONFIDENTIAL FINANCIAL RESULTS Excludes stock-based compensation expense ● 4th consecutive quarter of sequential revenue growth ● 10% year-over-year revenue growth ● Strong operating margin performance ● Non-GAAP EPS of $1.78 met the high end of guidance 4
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PLEXUS CONFIDENTIAL WINS AND FUNNEL HIGHLIGHTS ● Q1F26 wins of $283 million includes exciting new customers and technologies ● Record Aerospace/Defense Q1F26 wins of $220 million ● Robust funnel of engineering solutions opportunities, including record Aerospace/Defense total funnel 5 * Inclusive of sustaining services
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PLEXUS CONFIDENTIAL SUSTAINABILITY | Q1F26 HIGHLIGHTS ● Named one of HR Asiaʼs “Best Companies to Work For.ˮ 4th consecutive year of recognition. ● Partnered with Malaysian utility provider TNB to provide our Penang, Malaysia campus with 100% renewably-sourced electricity, dramatically reducing our emissions globally. ● Donated to 24 global charities voted on by our team members through our Volunteer Time Off charitable giving program. DELIVERING EXCELLENCE HR ASIAʼS “BEST COMPANIES TO WORK FORˮ 6 INNOVATING RESPONSIBLY FOR AND THROUGH OUR PEOPLE, OUR SOLUTIONS & OUR OPERATIONS - BUILT ON A FOUNDATION OF TRUST & TRANSPARENCY -6
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PLEXUS CONFIDENTIAL FINANCIAL GUIDANCE ● Q2F26 revenue of $1.110 billion to $1.150 billion ● Q2F26 non-GAAP EPS of $1.80 to $1.95 ● Potential for F26 revenue growth to meet or exceed high end of 912% goal ● Expect significant F26 operating profit expansion ● 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: ○ Record quarterly performance ○ Expanded leadership in commercial space ○ Added new partners deploying disruptive technologies Q2F26 Expectations Up mid-single digits ● Q1F26 below expectations on short-term impact of customer year-end inventory management ● Q2F26 growth from strengthening demand and new program ramps ● F26 revenue growth expected to exceed 912% goal on new program ramps, strong defense demand and commercial aerospace recovery8 Q1F26 vs. Q4F25 + 3%
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PLEXUS CONFIDENTIAL MARKET SECTOR PERFORMANCE HEALTHCARE/LIFE SCIENCES Q2F26 Expectations Flat to up low-single digits Q1F26 vs. Q4F25 + 10% ● Q1F26 met robust growth expectations ● Q2F26 outlook supported by strength in therapeutics ● F26 revenue growth expected to exceed 912% goal reflecting ongoing and new program ramps and improving demand 9 ● Wins highlights: ○ Win with key imaging customer in response to strong operational and NPI performance ○ Share gain expands relationship with strategic customer
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PLEXUS CONFIDENTIAL ● Q1F26 revenue in line with forecast ● Robust Q2F26 forecast on market strength and program ramps in semicap and improved industrial equipment demand ● F26 revenue growth expected to approach 912% goal on semicap strength and new program ramps MARKET SECTOR PERFORMANCE INDUSTRIAL Q2F26 Expectations Up high-single to low-double digits Q1F26 vs. Q4F25 - 8% 10 ● Wins highlights: ○ Continued wins in semicap ○ Leading robotics company transitioning to Plexus from internal manufacturing
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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 Q1F25 Q4F25 Q1F26 Actual Q1F26 Guidance Revenue $976 million $1.058 billion $1.070 billion $1.050 billion to $1.090 billion Gross margin 10.3% 9.9% 9.9% 9.8% to 10.1% Selling & administrative expense * $49.1 million $51.7 million $51.7 million $51.5 to $52.5 million GAAP operating margin * 4.8% 5.0% 5.1% 4.9% to 5.3% Non-GAAP operating margin 6.0% 5.8% 5.8% 5.6% to 6.0% Non-operating expense $3.4 million $3.4 million $3.4 million Approximately $4.6 million GAAP diluted EPS * $1.34 $1.87 $1.51 $1.40 to $1.55 Non-GAAP diluted EPS $1.73 $2.14 $1.78 $1.66 to $1.81 Includes stock-based compensation expense12
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PLEXUS CONFIDENTIAL CASH FLOW AND BALANCE SHEET Q1F25 Q4F25 Q1F26 Free cash flow $27.1 million $97.2 million $50.6) million Share repurchases $12.8 million $21.5 million $22.4 million Cash balance $318 million $307 million $249 million Total debt $211 million $138 million $158 million Return on invested capital 13.8% 14.6% 13.2% Cash cycle days 68 days 63 days 69 days 13
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PLEXUS CONFIDENTIAL WORKING CAPITAL TRENDS Q1F25 Q2F25 Q3F25 Q4F25 Q1F26 Days in Accounts Receivable 56 57 59 57 58 Days in Contract Assets 12 12 13 13 13 Days in Inventory 134 132 128 118 124 Days in Accounts Payable 69 70 72 70 71 Days in Advanced Payments 65 63 59 55 55 Net Cash Cycle Days 68 68 69 63 69 14
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PLEXUS CONFIDENTIAL FISCAL SECOND QUARTER 2026 GUIDANCE Q2F25 Q1F26 Q2F26 Guidance Revenue $980 million $1.070 billion $1.110 billion to $1.150 billion GAAP diluted EPS * $1.41 $1.51 $1.53 to $1.68 Non-GAAP diluted EPS $1.66 $1.78 $1.80 to $1.95 Gross margin 10.0% 9.9% 9.9% to 10.2% Selling & administrative expense * $49.0 million $51.7 million $54.0 to $55.0 million GAAP operating margin * 5.0% 5.1% 4.9% to 5.3% Non-GAAP operating margin 5.7% 5.8% 5.6% to 6.0% Depreciation and amortization $19.5 million $19.2 million Approximately $20 million Non-operating expense $3.8 million $3.4 million Approximately $5.3 million Effective tax rate 13% 19% 16% to 18% Diluted weighted average shares outstanding 27.7 million 27.3 million 27.2 million Cash cycle days 68 69 65 to 69 days Includes stock-based compensation expense15
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PLEXUS CONFIDENTIAL Q&A Thank you.