CDW Corporation Webcast Conference Call August 3, 2022 CDW.com | 800.800.4239 Today's Agenda ▪ Second Quarter and YTD 2022 Results ▪ Performance Drivers ▪ Outlook ▪ Q&A 2 Disclaimers Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the future financial performance, capi ...

Table of Contents Title of each class Trading symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share CDW Nasdaq Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition p ...

CDW Corporation (NASDAQ:CDW) Q1 2022 Earnings Conference Call May 4, 2022 8:30 AM ET Company Participants Steven O’Brien - VP, IR Christine Leahy - President and CEO Al Miralles - SVP and CFO Conference Call Participants Matthew Sheerin - Stifel Erik Woodring - Morgan Stanley Ruplu Bhattacharya - Bank of America Adam Tindle - Raymond James Amit Daryanani - Evercore ISI Jim Suva - Citigroup Keith Housum - Northcoast Research Operator Welcome to the CDW First Quarter 2022 Earnings Call. At this time all parti ...

INVESTOR PRESENTATION 2022 | SPRING / SUMMER DISCLAIMERS Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the future financial performance, capital allocation priorities and growth prospects of CDW. These forward-looking statements are subject to risks and uncertainties ...

Financial Performance - Net sales for the three months ended March 31, 2022, increased by $1,112 million, or 23.0%, to $5,949 million compared to the prior year, driven by higher demand in hardware, services, and software, including contributions from the acquisition of Sirius[103] - Gross profit rose by $309 million, or 38.8%, to $1,104 million for the three months ended March 31, 2022, with a gross profit margin increase of 220 basis points to 18.6%[104] - Operating income was $386.9 million for the three months ended March 31, 2022, an increase of $64 million compared to $323.4 million for the same period in 2021[106] - Net income for the three months ended March 31, 2022, was $250.2 million, representing a 7.3% increase from $232.6 million in the prior year[102] - Non-GAAP operating income increased to $462.1 million for the three months ended March 31, 2022, compared to $367.7 million for the same period in 2021[102] - Total operating income for the three months ended March 31, 2022, was $386.9 million, an increase of $63.5 million, or 19.6%, from $323.4 million in the same period of 2021[112] - Non-GAAP operating income was $462.1 million for the three months ended March 31, 2022, reflecting a 25.6% increase from $367.7 million in the prior year[130] - Non-GAAP net income increased by $52 million, or 20.9%, to $302 million for the three months ended March 31, 2022, compared to $249 million in the same period of 2021[131] Segment Performance - Corporate segment net sales rose by $822 million, or 45.5%, to $2,627.6 million, driven by digital transformation and the acquisition of Sirius[115] - Small Business segment net sales increased by $91 million, or 21.1%, to $524 million, supported by remote enablement strategies[118] - Public segment net sales grew by $111 million, or 5.8%, to $2,033 million, influenced by digital transformation in Healthcare and improved performance with State and Local Government customers[120] - The Other segment, which includes UK and Canadian operations, saw net sales increase by $87 million, or 12.8%, to $764.5 million[122] Expenses and Income - Selling and administrative expenses increased by $245 million, or 52.0%, to $717 million for the three months ended March 31, 2022, primarily due to higher payroll and integration expenses from the acquisition of Sirius[106] - Interest expense for the three months ended March 31, 2022, was $56 million, an increase of $20 million compared to $36 million for the same period in 2021, driven by additional interest from unsecured senior notes issued to fund the acquisition of Sirius[107] - The effective tax rate for the three months ended March 31, 2022, was 24.3%, up from 19.5% in the prior year, primarily due to lower excess tax benefits on equity-based compensation[108] Cash Flow and Debt - The company reported net cash provided by operating activities of $380.8 million for the three months ended March 31, 2022, an increase of 10.5% from $344.6 million in the same period of 2021[145] - Net debt increased to $6,211.8 million as of March 31, 2022, compared to $3,052.1 million in the prior year[100] - The company’s long-term debt decreased to $6,393.9 million as of March 31, 2022, from $6,534.6 million as of December 31, 2021[160] - The company experienced a net increase in cash and cash equivalents of $128.8 million for the three months ended March 31, 2022, compared to a decrease of $531.6 million in the same period of 2021[145] Assets and Dividends - Total current assets increased to $5,658.2 million as of March 31, 2022, compared to $4,584.1 million as of December 31, 2021[160] - The company announced a quarterly cash dividend of $0.50 per share, payable on June 10, 2022[143] Risks and Concerns - The company faces significant risks including the impact of the COVID-19 pandemic, inflationary pressures, and competition that could reduce market share[168] - There are concerns regarding the potential failure to achieve anticipated benefits from the acquisition of Sirius within the expected timeframe[168] - The company is exposed to risks related to accounts receivable and inventory, which could affect financial performance[168] - Fluctuations in foreign currency and global economic conditions, including the military conflict between Russia and Ukraine, pose additional risks[168] - The company has not experienced material changes in market risk disclosures as of March 31, 2022[171] Cash Conversion Cycle - The cash conversion cycle improved to 20 days for the three months ended March 31, 2022, compared to 22 days in the prior year[100] - The company had a cash conversion cycle of 20 days as of March 31, 2022, down from 22 days in the previous year[153] Investment Activities - Net cash used in investing activities decreased by $192 million for the three months ended March 31, 2022, compared to the same period in 2021[155] - The company made no share repurchases during the three months ended March 31, 2022[142]

Table of Contents Title of each class Trading symbol(s) Name of each exchange on which registered Common stock, par value $0.01 per share CDW Nasdaq Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition perio ...

CDW Corporation (NASDAQ:CDW) Q4 2021 Earnings Conference Call February 9, 2022 8:30 AM ET Company Participants Kevin White - Director of Investor Relations Christine Leahy - President and Chief Executive Officer Al Miralles - Senior Vice President and Chief Financial Officer Conference Call Participants Amit Daryanani - Evercore ISI Adam Tindle - Raymond James Matthew Sheerin - Stifel Ruplu Bhattacharya - Bank of America Merrill Lynch Erik Woodring - Morgan Stanley Jim Suva - Citigroup Shannon Cross - Cross ...

CDW Corporation Webcast Conference Call February 9, 2022 CDW.com | 800.800.4239 Today's Agenda ▪ Fourth Quarter and Full Year 2021 Results ▪ Performance Drivers ▪ 2022 Outlook ▪ Q&A 2 Disclaimers Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding capital priorities and ot ...

CDW Corporation Webcast Conference Call November 3, 2021 CDW.com | 800.800.4239 Today's Agenda ▪ Third Quarter and YTD 2021 Results ▪ Performance Drivers ▪ Outlook ▪ Q&A 2 Disclaimers Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding capital priorities and other strategi ...

Financial Data and Key Metrics Changes - CDW reported record net sales of $5.311 billion, a 0.4% increase year-over-year, and a 10.7% increase in constant currency [8][27] - Non-GAAP operating income was $435 million, up 12.6%, and non-GAAP net income per share was $2.13, reflecting a 13.4% increase on a reported basis and a 15.8% increase in constant currency [8][30] - Gross profit for the quarter was $915 million, an increase of 10.8%, with a gross margin of 17.3%, down approximately 10 basis points year-over-year [28] Business Line Data and Key Metrics Changes - Corporate sales increased by 25%, driven by strong demand for digital transformation and hybrid work solutions [11][12] - Small business sales grew nearly 40%, benefiting from flexibility in technology requirements [12] - Government channel net sales decreased by 33%, primarily due to the impact of the U.S. Census Bureau project from the previous year [13] - Healthcare sales increased by 31%, driven by resumed projects related to COVID-19 [15][16] Market Data and Key Metrics Changes - U.S. public business saw a mid-single-digit decline, while international operations posted significant double-digit increases [10][16] - Education market net sales increased by 2%, with higher education driving growth through campus connectivity initiatives [14] - UK and Canadian operations experienced over 30% growth, with customer priorities aligning with those in the U.S. [16] Company Strategy and Development Direction - CDW's strategy focuses on taking market share and investing in solutions that customers need, with a balanced portfolio across various customer end markets [8][19] - The planned acquisition of Sirius Computer Solutions aims to enhance service capabilities and position CDW as a trusted technology advisor [19][20] - The company expects to continue its evolution as a leading IT solutions provider, emphasizing the importance of services in customer IT spending [21][25] Management's Comments on Operating Environment and Future Outlook - Management noted that supply constraints are expected to persist, impacting lead times and backlog, but they remain confident in the business's health and growth prospects [24][38] - The company anticipates U.S. IT market growth of approximately 5% and aims to outperform this by 425 to 500 basis points [38] - Inflation is a concern, but management believes technology investments will remain a priority for customers [49] Other Important Information - The board approved a 25% increase in the quarterly cash dividend, marking the eighth consecutive year of increases since the IPO [26][33] - Year-to-date free cash flow was $341 million, lower than the previous year's record due to timing and strategic investments [32] Q&A Session Summary Question: Feedback on Sirius acquisition and potential revenue synergies - Management received positive feedback from customers regarding the Sirius acquisition, with expectations of enhanced capabilities and services [41][42] Question: Backlog composition and order cancellations - There are no significant order cancellations, and the backlog remains strong, with some pull-forward of orders due to the uncertain supply environment [45][47] Question: Education market performance and stimulus funding - Management expressed confidence in the education market's long-term growth, highlighting the importance of stimulus funding for technology investments [51][54] Question: Operating margins sustainability - Operating margins are influenced by product mix and supply chain dynamics, with expectations for high 7% margins moving forward [55][58] Question: Visibility on stimulus funding and order placements - Management is confident in navigating the complexities of stimulus funding and believes K-12 customers will not miss out on funding opportunities [60][62]