Q3 FY'21 Results August 2, 2021 Today's Presenters Kurt Adzema EVP & CFO S A N M I N A Jure Sola Chairman & CEO Safe Harbor Statement Certain statements made during this presentation, including our expectations for customer demand during the fourth quarter, the Company's ability to manage ongoing supply chain constraints, the financial outlook for the fourth quarter and our expectations for increases in revenue and margins and decrease in inventory constitute forward-looking statements within the meaning of ...

Financial Performance - Net sales increased from $1.6 billion in Q2 2020 to $1.7 billion in Q2 2021, a growth of 6.9%[114] - Gross profit for Q2 2021 was $143.1 million, compared to $107.4 million in Q2 2020, reflecting improved operational efficiencies[114] - Operating income rose to $64.7 million in Q2 2021 from $24.4 million in Q2 2020, indicating stronger profitability[114] - The gross margin increased to 8.4% in Q2 2021 from 6.8% in Q2 2020, driven by cost reduction efforts[116] - CPS gross margin improved to 14.2% in Q2 2021 from 10.8% in Q2 2020, attributed to increased volume and favorable product mix[117] Customer Concentration - Sales to the ten largest customers accounted for approximately 55% of net sales, highlighting customer concentration risk[109] - The IMS segment represented about 80% of total revenue in the first half of 2021, underscoring its significance to overall performance[103] Expenses and Charges - Selling, General and Administrative expenses decreased to $61.1 million in Q2 2021, or 3.6% of net sales, down from $62.3 million in Q2 2020[119] - Selling, General and Administrative expenses decreased by $5.3 million from $125.4 million (3.7% of net sales) in the six months ended March 28, 2020, to $120.1 million (3.5% of net sales) in the six months ended April 3, 2021[120] - Research and Development expenses decreased by $0.4 million from $5.8 million (0.4% of net sales) in Q2 2020 to $5.4 million (0.3% of net sales) in Q2 2021[121] - Restructuring charges incurred were approximately $29 million, reflecting ongoing adjustments to operational strategies[108] - Restructuring charges incurred under the Q1 FY20 Plan amounted to approximately $29 million as of April 3, 2021, with expected total charges of up to $35 million[124] Cash Flow and Liquidity - Net cash provided by operating activities was $142.9 million for the six months ended April 3, 2021, compared to $156.9 million for the same period in 2020[133] - Cash and cash equivalents increased to $575 million as of April 3, 2021, from $481 million as of October 3, 2020[135] - The company generated $143 million of cash from operations in the second quarter of 2021[148] - The company believes its existing cash resources will be sufficient to meet working capital requirements for at least the next 12 months[149] Investments and Receivables - Net cash used in investing activities was $25.5 million for the six months ended April 3, 2021, compared to $44.5 million for the same period in 2020[138] - The company sold approximately $371 million and $1.1 billion of accounts receivable under its programs for the six months ended April 3, 2021, and March 28, 2020, respectively[143] - As of April 3, 2021, the company had $27 million of accounts receivable sold under the RPA that remained outstanding[144] Liabilities and Contingencies - The company had accrued liabilities of $16 million for restructuring costs as of April 3, 2021[126] - The company had accrued liabilities of $38 million related to legal proceedings and contingencies[146] - The company had a liability of $122 million for uncertain tax positions as of April 3, 2021[147] Financial Instruments - The company had outstanding interest rate swaps with an aggregate notional amount of $350 million as of April 3, 2021, with an effective interest rate of approximately 4.3%[145] - As of April 3, 2021, the company had outstanding foreign currency forward contracts with an aggregate notional amount of $399 million[156] - The company had forward contracts related to cash flow hedges in various foreign currencies in the aggregate notional amount of $110 million as of April 3, 2021[157] Future Outlook - The company expects component shortages to persist through at least the end of calendar 2021, potentially impacting revenue[106] - Days sales outstanding (DSO) increased from 54 days as of October 3, 2020, to 59 days as of April 3, 2021[134] - The company repurchased 0.4 million shares for $9 million during the six months ended April 3, 2021, compared to 2.7 million shares for $70 million in the same period of 2020[140]

Financial Performance - Q2'21 - Revenue reached $1.7 billion, aligning with the midpoint of the company's outlook[8] - Non-GAAP gross margin was 8.6%, marking the fourth consecutive quarter above 8%[8] - Non-GAAP operating margin stood at 5.0%, the third consecutive quarter at or above this level[8] - Non-GAAP diluted EPS exceeded expectations at $1.01[8] Balance Sheet & Cash Flow - Cash and cash equivalents totaled $575 million, a sequential increase of $59 million[24] - The debt-to-cash ratio was 0.6x[24] - Liquidity stood at $1.3 billion[24] - Cash flow from operations was $81 million for Q2 and $143 million year-to-date[24] - Free cash flow was $67 million for Q2 and $117 million year-to-date[24] Segment Performance - Q2'21 - Integrated Manufacturing Solutions (IMS) revenue was $1.37 billion with a gross margin of 6.9%[19] - Components, Products and Services (CPS) revenue was $361 million with a gross margin of 14.2%[20] Q3'21 Outlook - Revenue is projected to be between $1.675 billion and $1.775 billion[39] - Non-GAAP diluted EPS is expected to be in the range of $0.84 to $0.94[39]

Financial Data and Key Metrics Changes - Q2 revenue was $1.7 billion, meeting the midpoint of the outlook of $1.65 to $1.75 billion [18] - Non-GAAP gross margin improved to 8.6%, primarily due to a favorable mix in the CPS segment [18] - Non-GAAP operating margin remained consistent at 5% despite lower revenues [18] - Non-GAAP fully diluted earnings per share of $1.01 exceeded the outlook of $0.76 to $0.86 [18] - Non-GAAP gross margins have exceeded 8% for the last four consecutive quarters [19] Business Line Data and Key Metrics Changes - IMS revenue was $1.37 billion, declining due to typical seasonality and supply chain constraints [20] - Non-GAAP gross margin for IMS declined to 6.9% due to lower revenue levels and a less favorable mix [20] - CPS revenue grew to $361 million from $319 million in the prior quarter, with non-GAAP gross margin improving to 14.2% [20] Market Data and Key Metrics Changes - Communication networks and cloud infrastructure accounted for 42% of revenue, while industrial, medical, defense, and automotive markets made up 58% [28] - Material shortages impacted revenue by approximately $50 million to $75 million in the second quarter [28] - For the third quarter, approximately 60% of revenue is expected from industrial, medical, defense, and automotive markets, with 40% from communication networks and cloud infrastructure [29] Company Strategy and Development Direction - The company is focused on delivering competitive advantages through industry-leading end-to-end technology solutions [32] - Management is prioritizing profitable growth and operational efficiencies to improve margins [31][34] - The company aims to navigate supply chain challenges while positioning itself for future growth [25][34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating supply chain constraints and COVID-related challenges, emphasizing strong customer demand [25][27] - The outlook for Q3 revenue is expected to grow to between $1.675 billion and $1.775 billion, with non-GAAP diluted earnings per share projected between $0.84 and $0.94 [23][24] - Management highlighted the importance of material availability for achieving growth targets [41] Other Important Information - The balance sheet remains strong, with cash and cash equivalents increasing by $59 million to $575 million [21] - Free cash flow for the quarter was $67 million, contributing to a total of $117 million year-to-date [21] - Non-GAAP pretax return on invested capital was reported at 27.6% [22] Q&A Session Summary Question: Visibility on second half revenue outlook - Management indicated that visibility is improving, and if material availability is secured, year-over-year growth is possible [41][42] Question: Details on communications end market - Management noted strong demand in 5G mobile networks and healthy conditions in networking and optical segments [44] Question: Drivers behind CPS gross margin improvement - The growth in CPS revenue and a favorable product mix contributed to the margin improvement [45] Question: Priorities for cash management - The primary focus is on investing in the business and organic growth, with M&A considered opportunistically [48] Question: Need for changing operational footprints due to shortages - Management acknowledged the need for adjustments in working capital and inventory management to meet demand [51][55] Question: Impact of component shortages on revenue - Management confirmed that the impact of component shortages was accounted for in the guidance, and they are working to secure materials for future quarters [61]

PART I. FINANCIAL INFORMATION [Item 1. Interim Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Interim%20Financial%20Statements%20%28Unaudited%29) Presents unaudited financial statements for Q1 FY2021, showing **$1.76 billion** net sales, **$48.0 million** net income, and increased operating cash flow Condensed Consolidated Balance Sheet Highlights (As of Jan 2, 2021 vs. Oct 3, 2020) | Account | Jan 2, 2021 (In thousands) | Oct 3, 2020 (In thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $516,030 | $480,526 | | Total current assets | $2,842,876 | $2,819,442 | | Total assets | $3,779,734 | $3,772,656 | | **Liabilities & Equity** | | | | Total current liabilities | $1,473,447 | $1,522,589 | | Total liabilities | $2,101,786 | $2,142,740 | | Total stockholders' equity | $1,677,948 | $1,629,916 | Condensed Consolidated Statements of Income (Three Months Ended) | Metric | Jan 2, 2021 (In thousands) | Dec 28, 2019 (In thousands) | | :--- | :--- | :--- | | Net sales | $1,755,249 | $1,840,171 | | Gross profit | $141,235 | $134,882 | | Operating income | $75,559 | $57,181 | | Net income | $48,021 | $38,345 | | Diluted EPS | $0.72 | $0.53 | Condensed Consolidated Statements of Cash Flows (Three Months Ended) | Cash Flow Activity | Jan 2, 2021 (In thousands) | Dec 28, 2019 (In thousands) | | :--- | :--- | :--- | | Cash provided by operating activities | $61,811 | $21,171 | | Cash used in investing activities | ($11,191) | ($28,046) | | Cash used in financing activities | ($16,160) | ($17,386) | | Increase (decrease) in cash | $35,504 | ($24,177) | - The company recognizes over **95%** of its revenue over time, using a cost-to-cost method, as products are manufactured or services are performed, based on contract terms that give the company an enforceable right to payment for work-in-progress[37](index=37&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=22&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 FY2021 financial results, noting a **4.6% decrease** in net sales to **$1.76 billion** but improved gross margin to **8.0%**, while addressing COVID-19 impacts and liquidity Net Sales by End Market (YoY Change) | End Market | Q1 2021 (In thousands) | Q1 2020 (In thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Industrial, Medical, Defense and Automotive | $1,032,518 | $1,107,547 | (6.8)% | | Communications Networks and Cloud Infrastructure | $722,731 | $732,624 | (1.4)% | | **Total** | **$1,755,249** | **$1,840,171** | **(4.6)%** | - Gross margin increased to **8.0%** in Q1 2021 from **7.3%** in Q1 2020, driven by increased operational efficiencies, cost reduction efforts, and benefits from prior plant closures[116](index=116&type=chunk) - The COVID-19 pandemic has negatively impacted operations, supply chains, and customer demand, and is expected to continue to have a negative impact on the business for the foreseeable future[106](index=106&type=chunk) - The company sold approximately **$263 million** of accounts receivable in Q1 2021 under its receivables sales programs, which contributed to operating cash flow[137](index=137&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=32&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages interest rate risk on its **$347 million** term loan with **$350 million** in swaps and hedges foreign currency risk using forward contracts - Interest rate risk from the **$347 million** floating-rate Term Loan is managed with interest rate swaps of a **$350 million** notional amount, effectively converting the variable-rate debt to fixed-rate[148](index=148&type=chunk) - To manage foreign currency risk, the company uses forward contracts, holding contracts with a notional amount of **$123 million** for cash flow hedges and **$351 million** for other currency exposures as of January 2, 2021[150](index=150&type=chunk)[151](index=151&type=chunk) [Item 4. Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of January 2, 2021, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of January 2, 2021[155](index=155&type=chunk) - There were no changes in internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[154](index=154&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in several legal proceedings, including a groundwater contamination lawsuit, a **$5 million** labor law class action settlement, and a commercial dispute with Dialight plc - The company is defending a lawsuit from the Orange County Water District regarding alleged groundwater contamination, with a trial scheduled to begin in April 2021[157](index=157&type=chunk) - A settlement in principle has been reached in a California labor law class action lawsuit, with the company's total payout not to exceed **$5 million**, subject to court approval[158](index=158&type=chunk) - The company is in a legal dispute with former customer Dialight plc, suing for approximately **$10 million** in unpaid receivables, while defending against Dialight's counterclaims of fraudulent inducement and breach of contract[159](index=159&type=chunk) [Item 1A. Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) This section outlines significant risks, including operational, regulatory, liquidity, and general business challenges, such as the COVID-19 pandemic, customer concentration, and supply chain vulnerabilities [End Market and Operational Risks](index=35&type=section&id=End%20Market%20and%20Operational%20Risks) Key operational risks include the COVID-19 pandemic, adverse market changes, customer concentration, U.S. trade policies, and supply chain vulnerabilities - The COVID-19 pandemic is a primary risk, impacting revenue, operations, and supply chains, with continued negative effects anticipated[162](index=162&type=chunk)[166](index=166&type=chunk) - A high concentration of sales comes from the ten largest customers, making the company vulnerable to reduced orders from this group[177](index=177&type=chunk) - U.S. trade policies and tariffs, particularly on goods from China, pose a risk by potentially increasing costs and reducing customer demand[178](index=178&type=chunk) - The success of the higher-margin Components, Products and Services (CPS) business is crucial to the company's strategy but faces challenges in investment, competition, and execution[185](index=185&type=chunk) [Regulatory, Compliance and Litigation Risks](index=39&type=section&id=Regulatory%2C%20Compliance%20and%20Litigation%20Risks) Regulatory risks include U.S. export controls, product liability from defects, cyberattacks, intellectual property protection, and environmental law liabilities - The company is subject to complex U.S. export control and government contracting regulations, where violations could lead to damages, fines, and debarment[188](index=188&type=chunk) - Manufacturing defects, particularly in medical and automotive products, expose the company to product liability claims, recalls, and fines[189](index=189&type=chunk) - Cyberattacks on IT networks and systems pose a risk of operational interruption, data loss, and legal liability[195](index=195&type=chunk) - The company faces potential liabilities from environmental laws related to hazardous substance use and remediation of contaminated sites[196](index=196&type=chunk)[197](index=197&type=chunk) [Liquidity and Credit Risks](index=43&type=section&id=Liquidity%20and%20Credit%20Risks) Liquidity risks include customer creditworthiness, tax implications of foreign cash repatriation, and potential covenant breaches in the credit facility - Financial difficulties or bankruptcy of customers could lead to bad debt, reduced demand, and potential preference payment claims[204](index=204&type=chunk) - A majority of cash is held in foreign jurisdictions; repatriation to the U.S. could incur significant taxes, reducing the net amount available[208](index=208&type=chunk) - The Amended Cash Flow Revolver contains covenants (e.g., maximum leverage ratio) that could constrain the business, and a breach could trigger default and debt acceleration[209](index=209&type=chunk) [General Risk Factors](index=44&type=section&id=General%20Risk%20Factors) General risks include intense EMS industry competition, industry consolidation, foreign exchange fluctuations, insufficient insurance, and challenges in retaining key personnel - The EMS industry is highly competitive, which creates pricing pressure and could harm financial performance[211](index=211&type=chunk)[212](index=212&type=chunk) - Operating results can be negatively impacted by foreign currency exchange rate fluctuations, and hedging activities may not fully mitigate this risk[215](index=215&type=chunk) - The company's operations are exposed to natural disasters and global events, such as earthquakes and pandemics, which could significantly disrupt manufacturing and supply chains[220](index=220&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In Q1 FY2021, the company repurchased **383,595 shares** for approximately **$9.4 million**, with **$125.3 million** remaining available under the repurchase program Stock Repurchases in Q1 2021 | Period | Total Shares Purchased | Average Price Paid Per Share ($) | | :--- | :--- | :--- | | Month 1 (Oct 4 - Oct 31, 2020) | 90,339 | $24.54 | | Month 2 (Nov 1 - Nov 28, 2020) | 293,256 | $24.61 | | Month 3 (Nov 29 - Jan 2, 2021) | — | $— | | **Total** | **383,595** | **$24.60** | - As of January 2, 2021, **$125.3 million** remained available for repurchase under the company's stock repurchase program, which has no expiration date[224](index=224&type=chunk) [Item 6. Exhibits](index=48&type=section&id=Item%206.%20Exhibits) This section lists filed exhibits, including an amendment to the Receivables Purchase Agreement, CEO/CFO certifications, and XBRL interactive data files - A list of filed exhibits is provided, including an amendment to the Receivables Purchase Agreement, CEO/CFO certifications, and XBRL data files[227](index=227&type=chunk) Signatures - The report was duly signed on February 4, 2021, by Jure Sola, Chief Executive Officer, and Kurt Adzema, Executive Vice President and Chief Financial Officer[229](index=229&type=chunk)

Financial Performance - Q1 FY'21 - Revenue reached $1.76 billion, exceeding the midpoint of the outlook which was between $1.7 billion and $1.8 billion[9] - Gross margin was 8.3%, marking the third consecutive quarter above 8%[9] - Operating margin was 5.0%, the second consecutive quarter at or above 5%[9] - Diluted EPS was $1.02, surpassing the outlook of $0.75 - $0.85[9] Balance Sheet & Cash Flow - Cash and cash equivalents stood at $516 million[23] - Liquidity was reported at $1.2 billion[23] - Cash flow from operations was $62 million[23] - Free cash flow was $51 million[23] - Approximately 384,000 shares were repurchased for $9.4 million[23] Q2 FY'21 Outlook - Revenue is projected to be between $1.65 billion and $1.75 billion[38] - Non-GAAP diluted EPS is expected to be in the range of $0.76 to $0.86[38]

Financial Data and Key Metrics Changes - Q1 revenue was $1.76 billion, exceeding the midpoint of the outlook of $1.7 billion to $1.8 billion, with revenue growth sequentially after adjusting for the 13 weeks in Q1 compared to 14 weeks in Q4 FY 2020 [13][15] - Q1 non-GAAP gross margin was 8.3%, marking the third consecutive quarter above 8%, while non-GAAP operating margin was 5%, the second consecutive quarter of 5% or greater [13][15] - Q1 non-GAAP fully diluted earnings per share (EPS) was $1.02, exceeding the outlook of $0.75 to $0.85, and this was the second consecutive quarter that non-GAAP EPS exceeded $1 per share [14][16] Business Line Data and Key Metrics Changes - IMS revenue was $1.5 billion, with non-GAAP gross margin improving from 7.2% to 7.3%, marking the third consecutive quarter with gross margins above 7% [17] - Products and Services revenue was $319 million, with non-GAAP gross margin at 12.4%, also the third consecutive quarter above 12% [18] Market Data and Key Metrics Changes - In Q1, communications networks and cloud infrastructure accounted for 41% of revenue, while industrial, medical, defense, and automotive contributed 59% [25] - For Q2, approximately 60% of revenue is expected from industrial, medical, defense, and automotive markets, with 40% from communication networks and cloud infrastructure [26] Company Strategy and Development Direction - The company focuses on safety, customer satisfaction, driving efficiencies, and delivering free cash flow as key drivers of success [24] - Management aims to unlock total value by maximizing operating leverage and expanding into more profitable projects in key markets [29] - The long-term operating margin target is set at 5% to 6%, with a strong customer base to support future growth [30] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating through COVID-19 and macroeconomic challenges, with expectations for stable demand across market segments [21][22] - The outlook for Q2 revenue is projected to be between $1.65 billion and $1.75 billion, with non-GAAP diluted EPS expected in the range of $0.76 to $0.86 [22][33] Other Important Information - The balance sheet remains strong, with cash and cash equivalents increasing to $516 million and a low debt-to-cash ratio of 0.7 [19] - Inventory was down approximately $42 million, with inventory turns improving to 7.7 [20] Q&A Session Summary Question: Clarification on communications networks and cloud infrastructure performance - Management noted that while there were some push-outs due to component shortages, overall demand was stable, with improvements expected in cloud computing based on new programs won [36][37] Question: Insights on operating margin performance - Management highlighted that controlling operating expenses allowed for maintaining a 5% operating margin despite lower revenues, with guidance for Q2 reflecting seasonal impacts and uncertainties [39][40][42] Question: Component shortages and inventory trends - Management acknowledged manageable component shortages affecting some orders, with a focus on improving inventory turns while navigating supply chain challenges [44][46] Question: Lead times and challenges in supply chain - Management identified custom ASICs, components for 5G, and automotive as the most challenging areas due to demand pressures, but emphasized strong relationships with suppliers to navigate these issues [61][62]

Q4 & FY'20 Results November 10, 2020 Today's Presenters Kurt Adzema EVP & CFO Jure Sola Chairman & CEO Safe Harbor Statement Certain statements made during this presentation, including the Company's outlook for the first quarter fiscal 2021 financial results, constitutes forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in these statements as a result of a number of fa ...

Financial Data and Key Metrics Changes - Q4 revenue was $1.875 billion, up 13.3% sequentially, exceeding the outlook of $1.73 to $1.83 billion [18] - Q4 non-GAAP gross margin improved from 8.1% to 8.3% due to management's focus on efficiencies and favorable product mix [18] - Q4 non-GAAP operating margin improved from 4.6% to 5.1% [19] - Q4 non-GAAP fully diluted EPS increased from $0.86 to $1.10, exceeding the prior outlook of $0.73 to $0.83 [20] - FY20 revenues were $7 billion compared to $8.2 billion in FY19, with non-GAAP gross margin improving from 7.3% to 7.7% [21][22] Business Line Data and Key Metrics Changes - Integrated Manufacturing Solutions (IMS) revenue grew approximately 14%, with non-GAAP gross margins improving from 7% to 7.2% [23] - Components Products and Services revenues grew approximately 9%, with non-GAAP gross margin improving from 12% to 12.4% [23] Market Data and Key Metrics Changes - Strong growth was observed in industrial, medical, defense, automotive, and communication networks, while cloud solutions experienced a decline due to timing issues [40] - The top-10 customers represented 57.1% of total revenue, indicating a diversified customer base [41] Company Strategy and Development Direction - The company plans to reorganize into three key focus groups to maximize shareholder value and drive growth [49][52] - Management emphasizes safety, customer satisfaction, operating margin improvement, and free cash flow generation as key priorities [39] - The company aims to leverage existing manufacturing capacity and maintain a disciplined approach to capital expenditures [29] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about fiscal year 2021, citing stable demand across key markets and a strong pipeline of opportunities [46] - The company is adapting well to the challenges posed by COVID-19 and is focused on improving operational efficiencies [37][55] Other Important Information - Cash and cash equivalents were approximately $481 million at the end of Q4, with a low debt to cash ratio of 0.7 [25][26] - The company generated approximately $80 million of cash from operations in Q4 and $301 million for the full fiscal year [27][28] Q&A Session Summary Question: Insights on the communications network segment - Management noted a diversified customer base in the communications network segment, with stable demand observed in optical and networking products, including improvements in 5G networks [58][59] Question: Long-term view on the defense business - The company plans to grow the defense business both organically and through strategic acquisitions, emphasizing its strong position in military and space technology [60][63] Question: Performance in industrial medical defense automotive segment - Management highlighted strong growth in this segment, driven by effective execution and flexibility in meeting customer demands during COVID-19 [64][65] Question: Cloud business performance and outlook - The cloud segment experienced a decline due to order deferments, attributed to timing and market dynamics, but management remains committed to growth in this area [66][67] Question: Changes in management and company direction - Management is implementing changes to enhance focus on business segments and improve customer relationships, while maintaining strong performance [71][72] Question: New opportunities and customer expansion - The company is seeing new opportunities in both existing and new customers, particularly in the medical and defense sectors [74] Question: Strength in 5G networks - Management confirmed growth in 5G networks, primarily driven by existing customers, with expectations for continued expansion [75]

| --- | --- | --- | --- | --- | --- | --- | |---------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Sanmina | | | | | | | | Q3 FY20 | | | | | | | | | | | | | | | | Results | | | | | | | | | | | | | | | | July 29, 2020 | | | | | | | WHAT WE MAKE, MAKES A DIFFERENCE Concept to Delivery / Advanced Technology / Manufacturing & Global Supply Chain Solutions / Systems & Intelligence Safe Harbor Statement Certain statements made during thi ...