Slides
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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AI, Automation, Advanced AnalyticsCloud & Rise of B2B Marketplaces B2B E-Commerce & Digital Sales Cybersecurity Smart Supply Chain & Logistics
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Unified and personalized digital channel customer experience24x7 Self-service unified portal experience & connectors Embed specialized modules and services Optimized customer workflows with seamless integrationLeverage data and AIPersonalized digital services & marketing
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One-size-fits-all approachDisaggregated applicationsAsynchronous data updatesFragmented ecosystem delivery Unified, digital channel experienceReal-time data synchronizationPersonalization API & IntegrationCross-channel Integration
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The vast network of customers generate significant volumes of data and insightsThe effectiveness and impact of the platform drives customer growth and increased utilizationRich data and insights are used to tailor experiences to specifically meet and serve customer needsThrough personalization, customers can achieve new levels of productivity and value creation
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Academy Cloud Labs PACE E-Commerce RenewalsPractice BuilderSolutions CatalogAgencyAs a ServiceServices Customer Data PlatformDigital BridgeAPI Connections
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Digital-led, market and vendor specific
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Utilize omni-channel capabilities to deliver seamless digital experiences Our built-for-purpose platform address distinct customer needs to drive efficiencies Use insights from our unique data lake and AI capabilities to increase demand and adoption
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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A growing IT market powered by secular trends A great team and cultureAn attractive financial model A differentiated, diversified, and scalable business modelDecades of quality shareholder returns
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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•Global leader with sustainable competitive advantages, serving a large addressable market •Diversified business model with unparalleled customer and vendor relationships•Significant cash flow generation with key focus on return on invested capital •Experienced management team committed to driving results for shareholders FY23 FY24 FY25E
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2021 2022 2023 2024 20222021 2023 2024 20222021 2023 202420222021 2023 202463 96 93 86
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Grow faster than the market by extending our reach and broadening capabilitiesStrengthen partnerships, optimize productivity and pricing, and expand service offerings to grow marginsNon-GAAP Diluted EPS1growth driven by improved mix and prudent cost management Non-GAAP Net Income1to FCF1 conversion of 95%+ and target to return 50%-75% of excess cash to shareholders
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•GDP+ growth •Expand in LATAM & APJ •Leverage specialist GTM to accelerate growth in higher margin segments •Attach services •Expand demand gen and marketing servicesFY25E Endpoint Solutions FY28EAdvanced Solutions•Attach services and expand services offerings•Increase renewals and demand gen services•Leading AS Distributor Globally•Expand AI, Security and Hybrid Cloud portfolio•Leverage specialist GTM to accelerate growth in higher margin segments
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Augment workforce and optimize processes through automation and AI Finalize ERP standardization in regions and optimize functionalities Simplify organizational structure and drive greater agility in decision-makingOptimize and enhance business processes to drive greater efficiency 2023 2024 Future
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FY25E Margin Accretionand SG&A EfficienciesShare RepurchasesFY28ENon-GAAP Gross Billings1Growth •Disciplined cost management with the goal to grow adjusted SG&A1at 50% the rate of Gross Profit •Target 50-75% of FCF1to repurchases and dividends •Maintain gross leverage ratio2of 2x+ Adjusted EBITDA1•Leverage specialist go to market to accelerate growth in higher margin segments•Drive accretive margins by accelerating services growth FY22 FY23 FY24 FY25E
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FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY25E•Improve cash days via business mix and continued efficiencies in Hyve•Disciplined capex management that prioritizes long term ROI•Drive Non-GAAP operating profit1growth via improved mix and operational excellence
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Model medium term returns above share repurchase returnAccelerate our strategic initiatives Align with TD SYNNEX’s culture and values FY23FY22FY213FY24 FY25E•Maximize shareholder returns through dividends and buybacks•Execute against authorized share repurchase plan•Complete additional buybacks at favorable valuations•Disciplined M&A that accelerates our strategy•Strategic internal levers•Work to maintain IG rating & 2x gross leverage floor•Ensure liquidity to support growth and M&A
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% MarginODM/CMPCsPeripherals + PrintSoftwareServer and StorageNetworkingServicesMobileBy product1% of total
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Grow faster than the market by extending our reach and capturing market share Non-GAAP Diluted EPSgrowth driven by gross margin improvement and disciplined cost management Maximize shareholder returns through dividends and share repurchases
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In addition to the financial results presented in accordance with GAAP, TD SYNNEX uses and refers to: adjustments required for such reconciliations, including acquisition, integration and restructuring costs, the amortization of intangibles, share-based compensation, and the related tax effects thereon, as well as purchases of property and equipment and costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts. These components could significantly impact the Company's actual related metrics.Acquisition, integration and restructuring costs, which are expensed as incurred, primarily represent professional services costs for legal, banking, consulting and advisory services, severance and other personnel-related costs, share-based compensation expense and debt extinguishment fees that are incurred in connection with acquisition, integration, restructuring, and divestiture activities. From time to time, this category may also include transaction-related gains/losses on divestitures/spin-off of businesses, costs related to long-lived assets including impairment charges and accelerated depreciation and amortization expense due to changes in asset useful lives, as well as various other costs associated with the acquisition or divestitureTD SYNNEX’s acquisition activities have resulted in the recognition of finite-lived intangible assets which consist primarily of customer relationships and vendor lists. Finite-lived intangible assets are amortized over their estimated useful lives and are tested for impairment when events indicate that the carrying value may not be recoverable. The amortization of intangible assets is reflected in the Company’s Statements of Operations. Although intangible assets contribute to the Company’s revenue generation, the amortization of intangible assets does not directly relate to the sale of the Company’s products. Additionally, intangible asset amortization expense typically fluctuates based on the size and timing of the Company’s acquisition activity. Accordingly, the Company believes excluding the amortization of intangible assets, along with the other non-GAAP adjustments, which neither relate to the ordinary course of the Company’s business nor reflect the Company’s underlying business performance, enhances the Company’s and investors’ ability to compare the Company’s past financial performance with its current performance and to analyze underlying business performance and trends. Intangible asset amortization excluded from the related non-GAAP financial measure represents the entire amount recorded within the Company’s GAAP financial statements, and the revenue generated by the associated intangible assets has not been excluded from the related non-GAAP financial measure. Intangible asset amortization is excluded from the related non-GAAP financial measure because the amortization, unlike the related revenue, is not affected by operations of any particular period unless an intangible asset becomes impaired or the estimated useful life of an intangible asset is revised.Share-based compensation expense is a non-cash expense arising from the grant of equity awards to employees and non-employee members of the Company's Board of Directors based on the estimated fair value of those awards. Although share-based compensation is an important aspect of the compensation of our employees, the fair value of the share-based awards may bear little resemblance to the actual value realized upon the vesting or future exercise of the related share-based awards and the expense can vary significantly between periods as a result of the timing of grants of new stock-based awards, including grants in connection with acquisitions. Given the variety and timing of awards and the subjective assumptions that are necessary when calculating share-based compensation expense, TD SYNNEX believes this additional information allows investors to make additional comparisons between our operating results from period to period.Purchase accounting adjustments are primarily related to the impact of recognizing the acquired vendor and customer liabilities related to the merger with Tech Data at fair value. These adjustments benefited our non-GAAP operating income through the third fiscal quarter of fiscal 2023 based on historical settlement patterns with our vendors and in accordance with the timing defined in our policy for releasing vendor and customer liabilities we deem remote to be paid.Legal settlements and other litigation, net includes a benefit recorded in other income (expense), net during the fourth quarter of fiscal 2022 resulting from a decrease in our accrual for a legal matter in France.In connection with the merger with Tech Data, the Company restructured its foreign financing structure, as well as select legal entities in anticipation of legally integrating legacy Tech Data and SYNNEX foreign operations. In addition to the treasury efficiencies, these restructurings resulted in a one-time domestic capital loss which would offset certain domestic capital gains when carried back under United States tax law, resulting in an income tax capital loss carryback benefit. • Non-GAAP gross billings which adjusts revenues to exclude costs related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts. Non-GAAP gross billings are a useful non-GAAP metric in understanding the volume of our business activity and serve as an important performance metric in internally managing our operations. Additionally, TD SYNNEX refers to gross profit as a percentage of non-GAAP gross billings.• Adjusted selling, general and administrative expenses which is a non-GAAP financial measure that excludes acquisition, integration and restructuring costs, the amortization of intangible assets and share-based compensation expense. TD SYNNEX also uses adjusted selling, general and administrative expenses as a percentage of gross profit. • Non-GAAP operating income is a non-GAAP financial measure that excludes acquisition, integration and restructuring costs, the amortization of intangible assets, share-based compensation expense and purchase accounting adjustments.• Non-GAAP net income and non-GAAP diluted earnings per share which are non-GAAP financial measures that exclude acquisition, integration and restructuring costs, the amortization of intangible assets, share-based compensation expense, purchase accounting adjustments, legal settlements and other litigation, net and the related tax effects thereon and an income tax capital loss carryback benefit. Additionally, TD SYNNEX refers to non-GAAP net income as a percentage of revenue, and non-GAAP net income as a percentage of non-GAAP gross billings. • Earnings before interest, taxes, depreciation and amortization (“EBITDA”), which excludes interest expense and finance charges, net, the provision for income taxes, depreciation, and amortization of intangibles. TD SYNNEX also uses adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) which excludes interest expense and finance charges, net, the provision for income taxes, depreciation, amortization of intangibles, other income (expense), net,acquisition, integration and restructuring costs, share-based compensation expense and purchase accounting adjustments. TD SYNNEX additionally refers to Adjusted EBITDA less capital expenditures. • Free cash flow which is cash flow from operating activities, reduced by purchases of property and equipment. TD SYNNEX uses free cash flow to conduct and evaluate its business because, although it is similar to cash flow from operations, TD SYNNEX believes it is an additional useful measure of cash flows since purchases of property and equipment are a necessary component of ongoing operations. Free cash flow reflects an additional way of viewing TD SYNNEX’s liquidity that, when viewed with its GAAP results, provides a more complete understanding of factors and trends affecting its cash flows. Free cash flow has limitations as it does not represent the residual cash flow available for discretionary expenditures. For example,free cash flow does not incorporate payments for business acquisitions. Therefore, TD SYNNEX believes it is important to viewfree cash flow as a complement to its entire Consolidated Statements of Cash Flows.In prior periods,TD SYNNEX has excluded other items relevant to those periods for purposes of its non-GAAP financial measures. TD SYNNEX management uses non-GAAP financial measures internally to understand, manage and evaluate the business, to establish operational goals, and in some cases for measuring performance for compensation purposes. These non-GAAP measures are intended to provide investors with an understanding of TD SYNNEX’s operational results and trends that more readily enable investors to analyze TD SYNNEX’s base financial and operating performance and to facilitate period-to-period comparisons and analysis of operational trends, as well as for planning and forecasting in future periods. Management believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. As these non-GAAP financial measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures, and should be read only in conjunction with TD SYNNEX’s Consolidated Financial Statements prepared in accordance with GAAP. A reconciliation of TD SYNNEX’s GAAP to non-GAAP financial information is set forth in the supplemental tables at the end of this presentation.The Company has not provided a reconciliation of its medium-term financial aspirations because certain items that are components of these financial metrics cannot be reasonably projected. In particular, sufficient information is not available to calculate certain Non-GAAP financial measures
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands)(Amounts may not add or compute due to rounding)Year EndedNovember 20, 2022November 30, 2023November 30, 2024Gross profit as a % of non-GAAP gross billings$ 62,343,810$ 57,555,416$ 58,452,436Revenue18,289,36919,690,67221,612,583Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts$ 80,633,179$ 77,246,088$ 80,065,019Non-GAAP gross billings$ 3,900,199$ 3,956,829$ 3,981,306Gross profit6.26 %6.87 %6.81 %Gross margin4.84 %5.12 %4.97 %Gross profit as a % of non-GAAP gross billings
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands, except per share amounts)(Amounts may not add or compute due to rounding)Twelve Months EndedNovember 30, 2021November 30, 2022November 30, 2023November 30, 2024Free cash flow$ 809,787$ (49,604)$ 1,407,373$ 1,217,724Net cash provided by (used in) operating activities(54,892)(117,049)(150,007)(175,112)Purchases of property and equipment$ 754,895$ (166,653)$ 1,257,366$ 1,042,612Free cash flow92,85385,874Weighted-average diluted common shares outstanding$ 13.54$ 12.14Free cash flow per share
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands, except per share amounts)(Amounts may not add or compute due to rounding)Twelve Months EndedNovember 30, 2021November 30, 2022November 30, 2023November 30, 2024Non-GAAP net income and non-GAAP diluted EPS(1) $ 395,069$ 651,307$ 626,911$ 689,091Net income159,194231,008213,58571,314Acquisition, integration & restructuring costs105,332299,162293,737292,304Amortization of intangibles33,07838,99449,27369,201Share-based compensation—(10,792)——Legal settlements and other litigation, net28,353112,69115,047—Purchase accounting adjustments(80,375)(166,129)(144,994)(109,973)Income taxes related to the above(44,968)(8,299)——Income tax capital loss carryback benefit$ 595,683$ 1,147,942$ 1,053,559$ 1,011,937Non-GAAP net income$ 6.24$ 6.77$ 6.70$ 7.95Diluted EPS(1) 2.512.402.280.83Acquisition, integration & restructuring costs1.663.113.143.37Amortization of intangibles0.520.410.530.80Share-based compensation0.451.170.16—Purchase accounting adjustments—(0.11)——Legal settlements and other litigation, net(1.27)(1.73)(1.55)(1.27)Income taxes related to the above(0.71)(0.09)——Income tax capital loss carryback benefit$ 9.40$ 11.94$ 11.26$ 11.68Non-GAAP diluted EPS(1)(1) Diluted EPS is calculated using the two-class method. Unvested restricted stock awards granted to employees are considered participating securities. For purposes of calculating Diluted EPS, net income allocated to participating securities was immaterial in all periods presented.
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Calculation of financial metricsTD SYNNEX(Currency in thousands)(Amounts may not add or compute due to rounding)November 30, 2021November 30, 2022November 30, 2023November 30, 2024Leverage ratio$ 4,136,432$ 4,103,793$ 4,082,778$ 3,907,491(a)Total borrowings457———Less: book overdraft$ 4,135,975$ 4,103,793$ 4,082,778$ 3,907,491(a)Total borrowings, excluding book overdraft1,585,0181,823,8891,749,5381,736,772(b)Trailing four quarters Adjusted EBITDA2.62.32.32.2(c)=(a)/(b)Debt to Adjusted EBITDA leverage ratio
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands)(Unaudited)(Amounts may not add or compute due to rounding)Fiscal Year EndedNovember 30,2022November 30,2023November 30,2024$ 651,307$ 626,911$ 689,091Net income222,578288,318319,458Interest expense and finance charges, net175,823162,597176,944Provision for income taxes164,203124,578115,228Depreciation(1)299,162293,737292,304Amortization of intangibles$ 1,513,073$ 1,496,141$ 1,593,025EBITDA1,1652068,718Other expense, net157,965188,87165,828Acquisition, integration and restructuring costs38,99449,27369,201Share-based compensation112,69115,047—Purchase accounting adjustments$ 1,823,888$ 1,749,538$ 1,736,772Adjusted EBITDA(1)Includes depreciation recorded in acquisition, integration, and restructuring costs. 20
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TD SYNNEX resultsTD SYNNEX(Currency in millions)(Amounts may not add or compute due to rounding)Three Months EndedNovember 30, 2021$ 15,611.3Revenue3,903.3Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts$ 19,514.6Non-GAAP gross billings943.2Gross profitOperating expenses:(655.7)Selling, general and administrative expenses(102.1)Acquisition, integration and restructuring expenses(757.8)$ 185.4Operating incomeAdjustments102.1Acquisition, integration and restructuring expenses77.2Amortization of intangibles28.4Purchase accounting adjustments14.9Stock-based compensation expense407.9Non-GAAP operating income27.4Depreciation$ 435.4Adjusted EBITDA
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Legacy SYNNEX resultsSYNNEX CORPORATION(Currency in millions)(Unaudited)(Amounts may not add or compute due to rounding)Three Months EndedFebruary 28,2021May 31,2021August 31,2021$ 4,939.0$ 5,856.8$ 5,207.1Revenue949.1970.11,013.5Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts$ 5,888.1$ 6,826.9$ 6,220.6Non-GAAP gross billings304.6329.2312.6Gross profitOperating expenses:(162.8)(175.3)(160.3)Selling, general and administrative expenses—(5.9)(4.1)Acquisition, integration and restructuring expenses(162.8)(181.3)(164.4)$ 141.7$ 147.9$ 148.2Operating incomeAdjustments—5.94.1Acquisition, integration and restructuring expenses9.49.49.4Amortization of intangibles4.96.86.5Stock-based compensation expense156.0170.0168.2Non-GAAP operating income5.55.75.6Depreciation$ 161.5$ 175.6$ 173.9Adjusted EBITDA
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Legacy Tech Data resultsTIGER PARENT (AP) CORPORATION AND SUBSIDIARIES(Currency in millions)(Unaudited)(Amounts may not add or compute due to rounding)Three Months EndedFebruary 28, 2021May 31, 2021August 31, 2021$ 10,306.6$ 9,570.6$ 9,132.1Revenue3,262.62,940.02,848.1Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts13,569.212,510.611,980.2Non-GAAP gross billings620.0566.4573.4Gross profitOperating expenses:(481.9)(461.7)(447.2)Selling, general and administrative expenses(38.2)(31.1)(35.4)Acquisition, integration and restructuring expenses1.7—(5.2)Legal settlements and other litigation, net2.0——Gain on bargain purchase7.6——Gain on sale of fixed assets(508.8)(492.8)(487.8)$ 111.2$ 73.5$ 85.6Operating incomeAdjustments:38.231.135.4Acquisition, integration and restructuring expenses39.729.941.0Amortization of intangibles32.632.622.7Purchase accounting adjustments1.41.41.5Stock-based compensation expense223.2168.5186.2Non-GAAP operating income20.120.420.3Depreciation$ 243.2$ 188.9$ 206.5Adjusted EBITDA
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Combined resultsCombined (Legacy SYNNEX and Legacy Tech Data)(Currency in millions)(Unaudited)(Amounts may not add or compute due to rounding)Trailing Twelve Months for Period EndedNovember 30, 2021$ 60,623.5Revenue15,886.7Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts76,510.2Non-GAAP gross billings3,649.2Gross profitOperating expenses:(2,545.0)Selling, general and administrative expenses(216.9)Acquisition, integration and restructuring expenses(3.5)Legal settlements and other litigation, net2.0Gain on bargain purchase7.6Gain on sale of fixed assets(2,755.7)$ 893.5Operating incomeAdjustments216.9Acquisition, integration and restructuring expenses215.9Amortization of intangibles116.3Purchase accounting adjustments37.4Stock-based compensation expense1,479.9Non-GAAP operating income105.1Depreciation$ 1,585.0Adjusted EBITDA6.02 %Gross margin4.77 %Gross profit as a % of non-GAAP gross billings24
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands)(Amounts may not add or compute due to rounding)Fiscal Year EndedNovember 30, 2023November 30, 2024Adjusted selling, general and administrative expenses as a % of gross profit $ 3,956,829$ 3,981,306Gross profit$ 2,878,797$ 2,787,095Selling, general and administrative expenses(1)(206,235)(71,314)Acquisition, integration and restructuring costs(293,737)(292,304)Amortization of intangibles(49,273)(69,201)Share-based compensation$ 2,329,552$ 2,354,276Adjusted selling, general and administrative expenses58.9 %59.1 %Adjusted selling, general and administrative expenses as a % of gross profit(1) Includes acquisition, integration and restructuring costs, which are presented separately on the Consolidated Statements of Operations. 25
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands)(Amounts may not add or compute due to rounding)Three Months EndedTrailing Twelve Months for the Period EndedMay 31,2024August 31,2024November 30,2024February 28,2025February 28,2025$ 143,605$ 178,556$ 194,802$ 167,537$ 684,500Net income76,70180,44786,41987,880331,447Interest expense and finance charges, net40,55142,35842,36647,346172,621Provision for income taxes33,52825,01528,94328,303115,789Depreciation(1) 72,75973,17373,49571,407290,834Amortization of intangibles$ 367,144$ 399,549$ 426,025$ 402,473$ 1,595,191EBITDA3,0911,5181,2251,6967,530Other expense, net32,7946561,1241,06235,636Acquisition, integration and restructuring costs13,43016,17622,10521,86173,572Share-based compensation$ 416,459$ 417,899$ 450,479$ 427,092$ 1,711,929Adjusted EBITDA26(1)In certain periods, includes depreciation recorded in acquisition, integration, and restructuring costs
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in thousands)(Unaudited)(Amounts may not add or compute due to rounding)Three Months EndedTrailing Twelve Months for Period EndedMay 31, 2024August 31, 2024November 30, 2024February 28, 2025February 28, 2025Non-GAAP gross billings$ 13,947,908$ 14,684,712$ 15,844,563$ 14,531,707$ 59,008,890Revenue5,356,7015,597,7685,366,6346,186,48922,507,592Costs incurred and netted against revenue related to sales of third-party supplier service contracts, software as a service arrangements and certain fulfillment contracts$ 19,304,609$ 20,282,480$ 21,211,197$ 20,718,196$ 81,516,482Non-GAAP gross billings27
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in millions, except per share amounts)(Amounts may not add or compute due to rounding)ForecastFiscal Year EndingNovember 30, 2025HighLowNon-GAAP net income and non-GAAP diluted EPS(1)$ 701$ 661Net income300300Amortization of intangibles7575Share-based compensation(86)(86)Income taxes related to the above$ 990$ 950Non-GAAP net income$ 8.50$ 8.00Diluted EPS(1)3.633.63Amortization of intangibles0.910.91Share-based compensation(1.04)(1.04)Income taxes related to the above$ 12.00$ 11.50Non-GAAP diluted EPS(1)28(1)Diluted EPS is calculated using the two-class method. Unvested restricted stock awards granted to employees are considered participating securities. Net income allocated to participating securities is estimated to be approximately 0.9% of the forecast net income for the fiscal year ending November 30, 2025. Outstanding diluted weighted average shares for the fiscal year ending November 30, 2025 are estimated to be approximately 81.8 million.
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Reconciliation of GAAP to Non-GAAP financial measuresTD SYNNEX(Currency in millions)(Amounts may not add or compute due to rounding)ForecastFiscal Year EndingNovember 30, 2025Free cash flow$ 1,265Net cash provided by operating activities(165)Purchases of property and equipment $ 1,100Free cash flow 29
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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DesignManufactureAssembleDeploySupport ManufacturingDesign Sales/Admin
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MicrosoftAlphabetAmazonMetaAppleOracle FY24 Capex Spend, $B FY25E Growth1 1Nasdaq consensus estimates as of 4/1/2025
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Spares, upgrades and add-on components, and onsite supportOutsourced supply chain planning and continuity of supply purchasesFull system / rack designto deliveryFull system / rack assemblyto delivery
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Customized, purpose-built design Manufacturing scale and productivity Vertical integration, secure supply chain Logistics, services, support Skilled sales, design, delivery teams
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Continued Design Collaboration with Customers & Tech PartnersExpanding Breadth of End-to-End ServicesInvesting in Next Gen Inference Customers & SolutionsExpansion of US SMT ProductionDesign & Production of Next Gen AI Network SwitchesUS-Based, Liquid Cooling, AI-Enabled Factories
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Be the leader in data center AI, compute, and network design and manufacturing, driving above market growthGrow customer base, expand design and engineering capabilities, enable leading data center performance globallyFavorable US footprint, diversified business model, unique vertical integration, and secure supply chain
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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Customer Acquisition and Retention PillarsThoughtfully Segment Our Go-To-MarketHarness Deep Technology SpecializationExpand Value-Added ServicesDeliver Differentiated Engagement and Customer Experience
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Improving ROI of go-to-market strategy through targeted campaignsEnsuring we are experts at speaking our customers’ language and can understand their buying preferencesHelping customers develop capabilities to capitalize on market shifts and new technologies Anticipating emerging technological needs
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Providing deep expertise, commercial and technical skillsets to solve complex problems Developing a greater understanding of market trends across the technology ecosystemEngaging with leading edge customers to identify trends among early adoptersPiecing togethermulti-platform solutions to solve even the most complex customer problems
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●Integration●Supply Chain●Support●Field & Professional Services
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Build custom solutionsServe differing demandsAnticipate customer needsProvide deep ecosystem connectivityEnable customer outcomesMake IT personal
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Market IntelligenceAI Vendor EcosystemAI Use Cases Partner AssessmentsAI Training Build a PracticeSolution Aggregation Demand Generation Access to ExpertsGet Hands on with AIServices Assessment ServicesMonitoring ServicesTraining Services
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Drive greater value and sales through segmentation aligned with expertise Amplify value proposition for customers through specialized expertiseBuild upon current services to enhance strategic partnershipDrive an end-to-end, seamless omni-channel experience for customers
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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Continue to Diversify Product OfferingDeepen Relationships with Vendors Unify our Reach through Geographic Expansion
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% of Non-GAAP Gross Billings # of Customers Based on Q1FY25 Financial Performance Corporate and HyperscalersSMBs/MSPsRetailEnterpriseSoftwareServer and StoragePCsNetworkingPeripherals and PrintServicesMobileODM/CM
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Cloud & IaaSSMB / MSP / CSPData / AIHyperscale InfrastructurePublic Sector Cloud & IaaSSMB / MSP / CSPData / AIHyperscale InfrastructureSecurityEastern Europe Cloud & IaaSSMB / MSP / CSPData / AIEndpoint SolutionsCaribbean Cloud & IaaS SMB / MSP / CSPData / AIHyperscale InfrastructureEndpoint SolutionsIndia
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Expand Customer BaseAccelerate Technology AdoptionDrive Refresh & RenewalsDrive Marketplace & Digital SalesEngineering & Technical SupportDevelop & Train PartnersFinancing & XaaS SolutionsSupply Chain Optimization
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Expand DTAM by bringing new and innovative technology solutions into channelUnlock value for and increase wallet share with existing vendors Drive expansion through deepened penetration globally
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Statements in this Presentation regarding TD SYNNEX that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from TD SYNNEX expectations as a result of a variety of factors. These forward-looking statements may be identified by terms such as believe, foresee, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to, statements about our business strategy, performance and financial condition, growth, investments, market data and expectations, outlooks, projections, estimates, goals and targets or other statements about future events as well as any other statements which are not historical facts. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which TD SYNNEX is unable to predict or control, that may cause TD SYNNEX actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: general economic and political conditions; weakness in information technology spending; seasonality; the loss or consolidation of one or more of our significant original equipment manufacturer, or OEM, suppliers or customers; market acceptance and product life of the products we assemble and distribute; competitive conditions in our industry and their impact on our margins; pricing, margin and other terms with our OEM suppliers; our ability to gain market share; variations in supplier-sponsored programs; changes in our costs and operating expenses; the unfavorable outcome of any legal proceedings that have been or may be instituted against us; the ability to retain key personnel; the timing and amount of returns to our stockholders via repurchases of our common stock and dividends; changes in foreign currency exchange rates; increased inflation; changes in tax laws; risks associated with our international operations; uncertainties and variability in demand by our reseller and integration customers; supply shortages or delays; any termination or reduction in our supplier finance programs; credit exposure to our reseller customers and negative trends in their businesses; any incidents of theft; the declaration, timing and payment of dividends, and the Board’s reassessment thereof; and other risks and uncertainties detailed in our Form 10-K for the fiscal year ended November 30, 2024 and subsequent SEC filings. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and subsequent SEC filings, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements. Statements included in this presentation are based upon information known to TD SYNNEX as of the date of presentation and TD SYNNEX assumes no obligation to update information contained in this presentation except as otherwise required by law.
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During these presentations, we also will be referring to certain non-GAAP financial information. These non-GAAP measures are not prepared in accordance with generally accepted accounting principles. Reconciliations of GAAP to non-GAAP results are included in today’s slide presentations.In addition, the slide presentations contain information concerning the IT market and distribution industry which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the IT market and distribution industry may develop. TD SYNNEX has based these assumptions on information currently available to us. If any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While we do not know what impact any such differences may have on our business, if there are such differences, our future results of operations and financial condition could be materially adversely affected.No Offer or Solicitation The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solicitation of an offer to purchase, subscribe to or acquire, securities of TD SYNNEX, or an inducement to enter into investment activity in the United States or in any other jurisdiction in which such offer, solicitation, inducement or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. No part of this Presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The Presentation is not for publication, release or distribution in any jurisdiction where such publication, release or distribution would constitute a violation of the relevant laws of such jurisdiction, nor should it be taken or transmitted into such jurisdiction.
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Global leader with sustainable competitive advantages, serving a large addressable market Significant cash flow generation with key focus on returning capital to shareholders Best-in-class culture of excellence to foster individual and collective growth Experienced management team committed to driving results for shareholders Diversified business model with unparalleled customer and vendor relationships
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Chief Executive Officer Chief Strategy and Technology Officer Chief Information Officer Chief Legal Officer Chief Business Officer Chief Financial Officer Chief HumanResources Officer President, Latin America & Caribbean President, Asia Pacific & Japan Board Director and Hyve Executive President, Europe President, North America President, Hyve Solutions
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2021 202220232024
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2024 Indirect Delivered Market Size ($B) ’24-’28 CAGRServer/StorageSecurityIaaSAI PlatformsAnalytics andBusiness IntelligenceSoftware (excl. Security)CybersecurityComponents &PeripheralsDevices, Imaging,and PrintingUnified CommunicationSoftwareTelecom ServicesIT ServicesInfrastructurePartner-Delivered1Vendor-Delivered
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Inventory ManagementGlobal Logistics Value Added ResellersCorporateRetailers Efficiency Through Volume Supply Chain ServicesCloud XaaS MarketplaceEmerging Tech Solutions Mid-Market/ SMB CSP, ISV, MSP Specialist ModelOmnichannel ExperienceDigitally Native Channel Enablement EnterprisePublic Sector Partner of the Future
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Expand customer baseAccelerate technology adoption through enablementCredit & financing / supply chain managementWin new end customersGenerate demand, increase margins, increase efficiencyExpand technology and vendor portfolioEnablement and skills augmentationDeepen vendor supportExtend customer offeringsDeliver most efficient route to market
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Leverage specialist GTM and expertise to target under-penetrated or emerging segments Capitalize on end-to-end capabilities to expand vendor wallet share Expand portfolio and presence in mature and developing markets Strengthen ODM and CM capabilities to grow share of the Hyperscaler infrastructure spend Expand service capabilities to enhance value proposition to vendors and customers while growing profitability
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IntegrationSupply ChainSupportField & Professional Services
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Maintain leadership in IT distribution driving above market profitable growthGrow addressable market, penetrate new segments and geographies & provide unrivaled breadth and quality of products and services, globallyDiversified business model, management team committed to driving returns for shareholders, best-in-class team and culture