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Q3 2026 Quarterly Earnings Results October 22, 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, Adjusted EBITDA Margin, 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 Revenue Outperformance Net Sales of $1.2B (Qtr. Record) +60% YoY Margin Expansion Adjusted EBITDA Margin of 20.1% (Qtr. record) +400bps YoY Profitability Outperformance Non-GAAP EPS1 of $1.46 (Qtr. Record) +118% YoY Bookings & Backlog Strength Total Book-to-Bill of 2.13; Total 90-day Backlog of 1.3B; A&D Program Backlog of $2.0B Strong Demand Drives 2027 Guidance $6.5-6.75B Net Sales & Non-GAAP EPS $8.25-$8.75 Notable Facility Progress Penang (MII & DC&N) profitability on track, SYD (A&D) Ultra-HDI operations initiated Executing on Strategic Plan Diversifying, “Up-the-Chain” High Synergy Value Creation - Closed Acquisitions of GS Swiss (formerly STG) and Epiq Solutions - Near closing of planned acquisition of ILFA - Recently announced planned acquisition: Ophir Optics - New minor planned acquisition: 2 UK-based PCB operations Disciplined, Strategic, Differentiated “Brownfield” Investments - $400M incremental capacity expansion planned to support strong, partnered customer roadmap demand for N+M, expected to be funded from projected operating cash flows 1Non-GAAP financial metric. See Appendix for reconciliation to most comparableGAAP equivalent. Q3 2026 Total Highlights & Recent Announcements Delivered Powerful Q3’26 Performance Throughout Business & Momentum Continuing
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PROPRIETARY AND CONFIDENTIAL 4 $753 $1,204 Q3'25 Q3'26 Q4'26 Forecast $0 $300 $600 $900 $1,200 $1,500 Net Sales Forecast Q4’26 Net Sales of $1.42B -$1.44B $1,440 $1,420 ($M) YoY Growth60% 80% $0.67 $1.46 Q3'25 Q3'26 Q4'26 Forecast $0.00 $0.30 $0.60 $0.90 $1.20 $1.50 $1.80 Non-GAAP EPS1 Forecast Q4’26 Non-GAAP EPS of $1.77-$1.83 $1.83 $1.77 ($M) YoY Growth118% 157% Q3 2026 Financial Results and Q4 2026 Guidance 2 Strong performance continues 1 Non-GAAP financial metric. See Appendix for reconciliation to GAAP equivalent. 2 Q4 2026 Guidance includes impacts of recently closed acquisitions and supporting financing and excludes recently announced acquisitions that have not yet closed.
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PROPRIETARY AND CONFIDENTIAL 5 Q3 2026 Financial Results and Q4 2026 Guidance Strong operating cash flow enabled organic revenue growth in Data Center and Networking 118% 157% We continued to generate solid cash flows from operations, supportive of internal investment strategy approach and providing healthy indicator for potential future free cash flow generation $142 $155 Q3'25 Q3'26 $0 $20 $40 $60 $80 $100 $120 $140 $160 Operating Cash Flow($M) 12.9% of Net Sales 18.8% of Net Sales $43 $75 Q3'25 Q3'26 $0 $15 $30 $45 $60 $75 Free Cash Flow1 ($M) 1Non-GAAP financial metric. See Appendix for reconciliation to most comparable GAAP equivalent.
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PROPRIETARY AND CONFIDENTIAL 6 Q3 2026 Financial Results and Q4 2026 Guidance Book to Bill, Backlog and close customer engagement support expected sustainable growth $0.6 $1.3 $1.50 $1.90 1.15 2.13 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 2.20 2.40 Q3'25 Q3'26 $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 $2.0 Book to Bill Axis Title Backlog ($B) Backlog & Book to Bill 90-day Backlog A&D Total Program Backlog Book to Bill (Gap) 118% 157% Book to Bill of 2.13 for Q3‘26 was substantially higher than 1.15 a year ago Total 90-Day Backlog grew 117% year over year, supporting forecasted revenue growth A&D long-term Program Backlog of $2.0B was up from $1.5B a year ago and included the following significant bookings during Q3’26: Surface ship surveillance Spy -6 radar APS-143 maritime surveillance radar Golden Dome Multiple Restricted Programs
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7 7 Aerospace & Defense (Revs +21% YoY) Commercial Revs (Revs +91%+ YoY) Program mix/ASPs and disciplined execution helping drive corporate EBITDA margin expansion. Strong book/bill ratio (2.5) aided by robust demand across DC&N and AMI&I end markets Data Center & Networking very strong (+115 YoY). N+M mass production began shipments to compute and networking customers. We believe close customer dialogue customers support momentum into at least 2028. MI&I had excellent quarter of 97% growth YoY fueled by strong demand and increased quick turn premium orders. GS Swiss (formerly STG) acquisition now closed and is expected to diversify TTM’s medical market leadership position adding Specialty MedTech and Audiology products and customers. Q3 2026 Key Sector Highlights Program mix/ASPs and disciplined execution helping drive corporate EBITDA margin expansion. Demand signals and business development very strong Proposal activity and backlog ($2.0B) at all time highs and continued positive indicators from Defense sector. Radar and restricted program momentum coming through in bookings while munitions demand signals still improving. Another Golden Dome booking in third quarter providing more visibility into the overall program opportunity Continued additive M&A with acquisition of Epiq Solutions for Up-the-Chain. Post Q3, announced plans to acquire Ophir Optics (IR capabilities + Romania & Israel locations)
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PROPRIETARY AND CONFIDENTIAL 8 Q3 2026 End Market Net Sales 6% 14% 49% 31% 7% 18% 41% 34% 11% 14% 30% 45% Automotive Medical, Industrial, and Instrumentation Data Center & Networking Aerospace & Defense 0% 10% 20% 30% 40% 50% 60% End Market % of Net Sales Q3'25 Q3'26 Q4'26 | Data Center & Networking and Aerospace and Defense continue as key growth drivers | All end markets expected to exhibit year over year $ revenue growth in Q4’26
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9 1Non-GAAP financial metrics. See Appendix for reconciliations to most comparable GAAP equivalents. Financial Metric Q3’26 Q3’25 Year on Year Change Q4’26 Guidance GAAP Metrics Net Sales $1,203.9M $752.7M $451.1M, or 60% $1,420 – 1,440M Gross Margin 24.2% 20.8% 340 bps Operating Income % of Net Sales $162.3M 13.5% $71.9M 9.6% $90.3M, or 126% 390 bps Net Income Per Diluted Share $84.8M $0.79 $53.1M $0.50 $31.7M, or 60% $0.29 or 57% Cash flow from Operations % of Net Sales $154.7M 12.9% $141.8 M 18.8% $12.9M (590 bps) Non-GAAP Metrics 1 Non-GAAP Gross Margin 24.8% 21.5% 330 bps Non-GAAP Operating Income % of Net Sales $209.0M 17.4% $92.5M 12.3% $116.4M, or 126% 510 bps Non-GAAP Net Income Per Diluted Share $157.8M $1.46 $71.0M $0.67 $86.8M, or 122% $0.79, or 118% $1.77 - $1.83 Adjusted EBITDA % of Net Sales $242.3M 20.1% $120.9M 16.1% $121.4M, or 100% 400 bps | Strong year on year improvements in key financial metrics forecasted to continue in Q4’26 Q3 2026 Financial Results and Q4 2026 Guidance
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PROPRIETARY AND CONFIDENTIAL 10 Initial 2027 Guidance 2 Indicates Continued Demand Strength Healthy annual performance with further momentum $4,480 $6,625 2026 Forecast 2027 Forecast $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Projected Net Sale($M) 118% 157% $5.00 $8.50 2026 Forecast 2027 Forecast $0.00 $1.00 $2.00 $3.00 $4.00 $5.00 $6.00 $7.00 $8.00 $9.00 Projected Non-GAAP EPS1 ($M) Note: Figures represent mid-points of guidance 48% Growth 70% Growth 1 Non-GAAP financial metric. See Appendix for reconciliation to GAAP equivalent. 2 2026 and 2027 Guidance includes impacts of recently closed acquisitions and supporting financing and excludes recently announced acquisitions that have not yet closed.
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PROPRIETARY AND CONFIDENTIAL THANK YOU!
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PROPRIETARY AND CONFIDENTIAL Appendix
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13 Third Quarter First Three Quarters 2026 2025 2026 2025 Non-GAAP gross profit reconciliation3: GAAP gross profit 291,864$ 156,736$ 684,903$ 435,817$ Add back item: Amortization of definite-lived intangibles 2,335 2,336 7,006 7,007 Stock-based compensation 5,315 3,720 12,753 9,220 Unrealized (gain) loss on commodity hedge (516) (776) 2,763 (1,835) Non-GAAP gross profit 298,998$ 162,016$ 707,425$ 450,209$ 24.8% 21.5% 23.2% 21.1% Non-GAAP operating income reconciliation4: GAAP operating income 162,253$ 71,906$ 343,757$ 183,935$ Add back items: Amortization of definite-lived intangibles 9,224 9,225 27,672 27,673 Stock-based compensation 24,090 11,611 61,738 29,586 Unrealized (gain) loss on commodity hedge (516) (776) 2,763 (1,835) Restructuring, acquisition-related and other charges 13,945 581 19,527 2,818 Non-GAAP operating income 208,996$ 92,547$ 455,457$ 242,177$ 17.4% 12.3% 14.9% 11.4% GAAP net income 84,803$ 53,055$ 217,838$ 126,763$ Add back items: Amortization of definite-lived intangibles 9,224 9,225 27,672 27,673 Stock-based compensation 24,090 11,611 61,738 29,586 Non-cash interest expense 753 542 1,895 1,609 Loss on extinguishment of debt - - 747 - Unrealized (gain) loss on commodity hedge (516) (776) 2,763 (1,835) Unrealized (gain) loss on foreign exchange 4,738 502 3,529 8,466 Unrealized (gain) loss on derivative instruments (1,284) - 12,710 - Restructuring, acquisition-related and other charges 17,235 561 22,817 2,818 Income taxes6 18,732 (3,764) (6,973) (10,931) Non-GAAP net income 157,775$ 70,956$ 344,736$ 184,149$ 1.46$ 0.67$ 3.21$ 1.75$ Non-GAAP gross margin Non-GAAP operating margin Non-GAAP net income and EPS reconciliation5: Non-GAAP earnings per diluted share Non-GAAP Reconciliations (In thousands, except per share data)
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14 Third Quarter First Three Quarters 2026 2025 2026 2025 Adjusted EBITDA reconciliation7: GAAP net income 84,803$ 53,055$ 217,838$ 126,763$ Add back items: Income tax (benefit) provision 56,898 8,758 63,635 21,566 Interest expense 12,809 10,399 33,905 32,958 Amortization of definite-lived intangibles 9,224 9,225 27,672 27,673 Depreciation expense 34,310 27,580 94,724 82,135 Stock-based compensation 24,090 11,611 61,738 29,586 Loss on extinguishment of debt - - 747 - Unrealized (gain) loss on commodity hedge (516) (776) 2,763 (1,835) Unrealized (gain) loss on foreign exchange 4,738 502 3,529 8,466 Unrealized (gain) loss on derivative instruments (1,284) - 12,710 - Restructuring, acquisition-related and other charges 17,235 561 22,698 2,818 Adjusted EBITDA 242,307$ 120,915$ 541,959$ 330,130$ Adjusted EBITDA margin 20.1% 16.1% 17.7% 15.5% Free cash flow reconciliation: Operating cash flow 154,711$ 141,803$ 272,883$ 228,952$ Capital expenditures, net (79,921) (99,233) (237,138) (222,687) Free cash flow 74,790$ 42,570$ 35,745$ 6,265$ Non-GAAP Reconciliations (In thousands)
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15 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 (gain) 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. 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 (gain) 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. Non-GAAP Reconciliations Footnotes