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TTM Technologies ™ Q2 2026 Quarterly Earnings Results August 5 , 2026
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2 Forward-Looking Statements This communication may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to the future business outlook, events, and expected performance of TTM Technologies, Inc. (“TTM”, “we” or the “Company”). The words “anticipate,” “believe,” “plan,” “forecast,” “foresee,” “estimate,” “project,” “expect,” “seek,” “target,” “intend,” “goal” and other similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date the statements were made and are not guarantees of performance. Actual results may differ materially from these forward-looking statements. Such statements relate to a variety of matters, including but not limited to the operations of TTM’s businesses. These statements reflect the current beliefs, expectations and assumptions of the management of TTM, and we believe such statements to have a reasonable basis. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the Company. These forward-looking statements are based on assumptions that may not materialize, and involve certain risks and uncertainties, many of which are beyond our control, that could cause actual events or performance to differ materially from those indicated in such forward-looking statements. Factors, risks, trends, and uncertainties that could cause actual results to differ materially from those projected, anticipated, or implied in forward-looking statements include, but are not limited to potential changes in domestic or global economic conditions, demand for our products, market pressures on prices of our products, warranty claims, changes in product mix, contemplated significant capital expenditures and related financing requirements, our dependence upon a small number of customers, and other factors set forth in the Company’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q and in the Company’s other filings filed with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors”, and which are available at the SEC’s website at www.sec.gov. TTM does not undertake any obligation to update any of these statements to reflect any new information, subsequent events or circumstances, or otherwise, except as may be required by law, even if experience or future changes make it clear that any projected results expressed in this communication or future communications to stockholders, press releases or Company statements will not be realized. In addition, the inclusion of any statement in this communication does not constitute an admission by us that the events or circumstances described in such statement are material. Use of Non-GAAP Financial Measures In addition to the financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), TTM uses certain non-GAAP financial measures, including Adjusted EBITDA, Non-GAAP Operating Income, Non-GAAP Net Income, Non- GAAP Operating Margin, Non-GAAP Gross Margin, Non-GAAP EPS and Free Cash Flow. We present non-GAAP financial information to enable investors to see TTM through the eyes of management and to provide better insight into our ongoing financial performance. A material limitation associated with the use of the above non-GAAP financial measures is that they have no standardized measurement prescribed by GAAP and may not be comparable to similar non-GAAP financial measures used by other companies. We compensate for these limitations by providing full disclosure of each non-GAAP financial measure and reconciliation to the most directly comparable GAAP financial measure. However, the non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. See Appendix for reconciliations of Non-GAAP financial metrics to the most comparable GAAP metric. With respect to TTM’s outlook for non-GAAP net income per diluted share, TTM is unable to predict with reasonable certainty or without unreasonable effort certain items that may affect a comparable measure calculated and presented in accordance with GAAP. The Company’s expected non-GAAP net income per diluted share excludes primarily the future impact of restructuring actions, impairment charges, unusual gains and losses including but not limited to unrealized foreign exchange translation, and tax adjustments. These reconciling items are highly variable and difficult to predict due to various factors outside of management’s control and could have a material impact on the most comparable U.S. GAAP financial measure for future periods. Accordingly, the Company has not provided the most directly comparable GAAP financial measure, or a quantitative reconciliation thereto, for its expected non-GAAP net income per diluted share because TTM is unable to provide such reconciliation without unreasonable effort. For the same reasons, TTM is unable to address the probable significance of the information. Data Used in This Presentation Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures. Third Party Information The information contained herein does not purport to be all inclusive. This presentation has been prepared by the Company and may include information from other sources believed by the Company to be reliable. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of any of the opinions and conclusions set forth herein based on such information. This presentation may contain descriptions or summaries of certain documents and agreements, but such descriptions or summaries are qualified in their entirety by reference to the actual documents or agreements. Unless otherwise indicated, the information contained herein speaks only as of the date hereof and is subject to change, completion or amendment without notice. Disclaimers
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3 Q2 2026 Total Highlights ▪ Revenue Outperformance Net Sales of $1.0B (+37% YoY) above guidance for $930 - $970M ▪ Profitability Outperformance Non-GAAP EPS of $0.99 above guidance for $0.82 - $0.88 ▪ Bookings & Backlog Strength Total B/B 1.49 & A&D Backlog $1.7B ▪ Improved FY 2026 Guidance Projection ~$4.4B Net Sales & Non-GAAP EPS approaching $5.00 ▪ Notable Facility Progress Penang improvements fully on track, SYD (A&D) Ultra-HDI Plant Grand Opening ▪ Balance Sheet Strengthening New $1.0B Cash Flow Revolver & Upsized Term Loan B ▪ Initial Strategic Entry into Europe -Planned acq. of STG brings Medical and A&D rigid, rigid-flex, flex, unique coating capabilities -Planned acq. of ILFA brings Medical and A&D rigid, rigid-flex, flex, prototype CAD Svcs | Delivered Powerful Q2’26 Performance Throughout Business & Supporting Continued Momentum
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4 $0.58 $0.99 $0.00 $0.30 $0.60 $0.90 $1.20 Q2'25 Q2'26 Q3'26 Forecast Non-GAAP EPS1 $731 $1,004 $0 $300 $600 $900 $1,200 $1,500 Q2'25 Q2'26 Q3'26 Forecast ($M) Net Sales Q2 2026 Financial Results and Q3 2026 Guidance Forecast Q3’26 Net Sales of $1.10B-$1.14B Forecast Q3’26 Non-GAAP EPS of $1.21-$1.27 37% YoY Growth 71% 1Non-GAAP financial metric. See Appendix for reconciliation to GAAP equivalent. 49% 81-90% YoY Growth $1,140 $1,100 $1.27 $1.21 | Strong performance leading to a beat and raise quarter
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5 Q2 2026 Cash Metrics 1Non-GAAP financial metric. See Appendix for reconciliation to GAAP equivalent. | Successful capital investments enabled organic revenue growth in Data Center and Networking ▪ We continued to generate solid cash flows from operations, enabling us to invest in our ongoing growth while maintaining a healthy net leverage ratio of 0.9 $98 $96 $0 $20 $40 $60 $80 $100 $120 $140 Q2'25 Q2'26 ($M) Operating Cash Flow 13.4% of Net Sales 9.6% of Net Sales $38 $46 $0 $15 $30 $45 Q2'25 Q2'26 ($M) Free Cash Flow1
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6 Q2 2026 Backlog and Book to Bill ▪ Book to Bill of 1.49 for Q2‘26 was substantially higher than 0.89 a year ago, supporting forecasted revenue growth ▪ Commercial 90-Day Backlog grew 144% year over year as aided by strong book to bill of 1.63 ▪ A&D total backlog of $1.7B was up from $1.5B a year ago, aided by strong book to bill of 1.30 vs. 0.71 in Q2‘25 ▪ A&D program bookings included: ➢ APS-153 Maritime Surveillance Radar ➢ ATP Sensor System for Targeting & Surveillance ➢ Golden Dome ➢ Multiple Restricted Programs | Book to Bill improved year over year and Backlog growth supports future revenue growth $0.5 $0.9 $1.5 $1.7 0.89 1.49 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 Q2'25 Q2'26 Book to Bill Backlog ($B) Backlog & Book to Bill 90-day Backlog A&D Total Program Backlog Book to Bill
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7 7 Q2 2026 Key Sector Highlights ▪ First development contract awarded for TTM’s AESA Detect and Avoid radar system for the Advanced Air Mobility market ▪ First Golden Dome related award begins journey toward capturing a $600M+ pipeline in Interconnect and Integrated Electronics solutions ▪ Ribbon cutting and successful transition of new Syracuse, NY Ultra High Density Interconnect facility into early low rate product qualification ▪ Launch of European Defense strategy with agreement to acquire German PCB manufacturer ILFA, and strong Farnborough Airshow presence Aerospace & Defense (Revs +14%+ YoY) TTM’s Detect & Avoid radar in first flight – Q1 2026 TTM cuts the ribbon in Syracuse, NY June 19, 2026 Commercial Revs (Revs +57%+ YoY) ▪ Completed Phase 1 N+M factory expansions on schedule to support key customer NPI programs and Q3 mass production ramp ▪ Agreement to acquire Swiss Technology Group (STG), a MedTech interconnect solutions provider specializing in miniaturized Flex & Rigid-Flex products and mSAP and SAP technologies ▪ STG is projected to strengthen and diversifyTTM’s medical market leadership position adding Specialty MedTech and Audiology products and customers ▪ STG would bolster TTM’s technology development activities in substrates and advanced packaging Ultra-HDI flex (SAP) Lines and spaces down to 10µm / 10µm
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8 Q2 2026 End Market Net Sales | Data Center and Networking and Aerospace and Defense continue as key growth drivers | Nearly all end markets expected to continue year over year $ revenue growth in Q3’26, while Automotive managed strategically 6% 13% 49% 32% 8% 15% 40% 37% 11% 15% 29% 45% 0% 10% 20% 30% 40% 50% 60% Automotive Medical, Industrial, and Instrumentation Data Center and Networking Aerospace and Defense End Market % of Net Sales Q2'25 Q2'26 Q3'26 Forecast
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9 Q2 2026 Financial Results and Q3 2026 Guidance 1Non-GAAP financial metrics. See Appendix for reconciliations to GAAP equivalents. Financial Metric Q2’26 Q2’25 Year on Year Change Q3’26 Guidance GAAP Metrics Net Sales $1,004.1 M $730.6 M $273.4 M, or 37% $1,100 – 1,140M Gross Margin 21.1% 20.3% 80 bps Operating Income % of Net Sales $109.1 M 10.9% $61.8 M 8.5% $47.3 M, or 77% 240 bps Net Income Per Diluted Share $83.0 M $0.77 $41.5 M $0.40 $41.5 M, or 100% $0.37 or 95% Cash flow from Operations % of Net Sales $96.4 M 9.6% $97.8 M 13.4% ($1.4 M) (380 bps) Non-GAAP Metrics1 Non-GAAP Gross Margin 21.9% 20.9% 100 bps Non-GAAP Operating Income % of Net Sales $138.4M 13.8% $81.4 M 11.1% $57.0 M, or 70% 270 bps Non-GAAP Net Income Per Diluted Share $106.9 M $0.99 $60.8 M $0.58 $46.1 M, or 76% $0.41, or 71% $1.21 - $1.27 Adjusted EBITDA % of Net Sales $166.8 M 16.6% $109.7 M 15.0% $57.0 M, or 52% 160 bps | Strong year on year improvements in key financial metrics forecasted to continue in Q3’26
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We Thank You!
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Appendix
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12 Non-GAAP Reconciliations (In thousands, except per share data) RECONCILIATIONS2 Second Quarter First Two Quarters 2026 2025 2026 2025 Non-GAAP gross profit reconciliation3: GAAP gross profit 211,858$ 148,109$ 393,039$ 279,081$ Add back item: Amortization of definite-lived intangibles 2,336 2,336 4,671 4,671 Stock-based compensation 3,771 2,827 7,438 5,500 Unrealized (gain) loss on commodity hedge 1,785 (283) 3,279 (1,059) Non-GAAP gross profit 219,750$ 152,989$ 408,427$ 288,193$ 21.9% 20.9% 22.1% 20.9% Non-GAAP operating income reconciliation4: GAAP operating income 109,055$ 61,769$ 181,504$ 112,029$ Add back items: Amortization of definite-lived intangibles 9,224 9,224 18,448 18,448 Stock-based compensation 13,292 9,188 37,648 17,975 Unrealized (gain) loss on commodity hedge 1,785 (283) 3,279 (1,059) Restructuring, acquisition-related and other charges 5,089 1,523 5,582 2,237 Non-GAAP operating income 138,445$ 81,421$ 246,461$ 149,630$ 13.8% 11.1% 13.3% 10.8% GAAP net income 83,047$ 41,530$ 133,035$ 73,708$ Add back items: Amortization of definite-lived intangibles 9,224 9,224 18,448 18,448 Stock-based compensation 13,292 9,188 37,648 17,975 Non-cash interest expense 588 536 1,142 1,067 Loss on extinguishment of debt 747 - 747 - Unrealized (gain) loss on commodity hedge 1,785 (283) 3,279 (1,059) Unrealized (gain) loss on foreign exchange (226) 5,750 (1,209) 7,964 Unrealized loss on derivative instruments 13,994 - 13,994 - Restructuring, acquisition-related and other charges 5,089 1,543 5,582 2,257 Income taxes6 (20,661) (6,727) (25,705) (7,167) Non-GAAP net income 106,879$ 60,761$ 186,961$ 113,193$ 0.99$ 0.58$ 1.74$ 1.08$ Non-GAAP gross margin Non-GAAP operating margin Non-GAAP net income and EPS reconciliation5: Non-GAAP earnings per diluted share
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13 Non-GAAP Reconciliations (In thousands) Second Quarter First Two Quarters 2026 2025 2026 2025 Adjusted EBITDA reconciliation7: GAAP net income 83,047$ 41,530$ 133,035$ 73,708$ Add back items: Income tax (benefit) provision (1,800) 3,995 6,737 12,808 Interest expense 10,496 11,095 21,096 22,559 Amortization of definite-lived intangibles 9,224 9,224 18,448 18,448 Depreciation expense 31,122 27,692 60,414 54,555 Stock-based compensation 13,292 9,188 37,648 17,975 Loss on extinguishment of debt 747 - 747 - Unrealized (gain) loss on commodity hedge 1,785 (283) 3,279 (1,059) Unrealized (gain) loss on foreign exchange (226) 5,750 (1,209) 7,964 Unrealized loss on derivative instruments 13,994 - 13,994 - Restructuring, acquisition-related and other charges 5,089 1,543 5,463 2,257 Adjusted EBITDA 166,770$ 109,734$ 299,652$ 209,215$ Adjusted EBITDA margin 16.6% 15.0% 16.2% 15.2% Free cash flow reconciliation: Operating cash flow 96,429$ 97,804$ 118,172$ 87,149$ Capital expenditures, net (50,416) (60,234) (157,217) (123,454) Free cash flow 46,013$ 37,570$ (39,045)$ (36,305)$
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14 Non-GAAP Reconciliations Footnotes 7 Adjusted EBITDA is defined as earnings before income tax (benefit) provision, interest expense, amortization of definite-lived intangibles, depreciation expense, stock-based compensation, loss on extinguishment of debt, unrealized (gain) loss on commodity hedge, unrealized (gain) loss on foreign exchange, unrealized loss on derivative instruments, restructuring, acquisition-related, and other charges. We present adjusted EBITDA to enhance the understanding of our operating results, and it is a key measure we use to evaluate our operations. In addition, we provide our adjusted EBITDA because we believe that investors and securities analysts will find adjusted EBITDA to be a useful measure for evaluating our operating performance and comparing our operating performance with that of similar companies that have different capital structures and for evaluating our ability to meet our future debt service, capital expenditures, and working capital requirements. However, adjusted EBITDA should not be considered as an alternative to cash flows from operating activities as a measure of liquidity or as an alternative to net income as a measure of operating results in accordance with accounting principles generally accepted in the United States of America. 6 Income tax adjustments reflect the difference between income taxes based on a non-GAAP tax rate and a forecasted annual GAAP tax rate. 2 This information provides a reconciliation of non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP EPS, and adjusted EBITDA to the most comparable GAAP metric in our consolidated condensed statements of operations. 3 Non-GAAP gross profit and gross margin measures exclude amortization of definite-lived intangibles, stock-based compensation, and unrealized (gain) loss on commodity hedge. 5 This information provides non-GAAP net income and non-GAAP EPS, which are non-GAAP financial measures. Management believes that both measures -- which add back amortization of definite-lived intangibles, stock-based compensation, non-cash interest expense, loss on extinguishment of debt, unrealized (gain) loss on commodity hedge, unrealized (gain) loss on foreign exchange, unrealized loss on derivative instruments, restructuring, acquisition-related, and other charges as well as the associated tax impact of these charges and discrete tax items -- provide additional useful information to investors regarding the Company's ongoing financial condition and results of operations. 4 Non-GAAP operating income and operating margin measures exclude amortization of definite-lived intangibles, stock-based compensation, unrealized (gain) loss on commodity hedge, restructuring, acquisition-related, and other charges.