JANUARY 5, 2021 Q1 FY2021 Financial Results Conference Call GLOBAL HOLDINGS Disclaimer 2 This presentation and oral communications made during the course of this presentation contain "forward-looking statements" including among other things, statements regarding future events and the future financial performance of SMART Global Holdings, Inc. ("SGH), including the business outlook for the next fiscal quarter, and statements regarding growth drivers in SGH'S industries and markets. These statements are only ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 November 27, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38102 SMART GLOBAL HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) Cayman Islands 98-1013909 ( State or other jurisdiction of incorporatio ...

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 August 28, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-38102 SMART GLOBAL HOLDINGS, INC. (Exact name of registrant as specified in its charter) Cayman Islands 98-1013909 ( State or other ju ...

SMART Global Holdings, Inc. (NASDAQ:SGH) Q4 2020 Earnings Conference Call October 1, 2020 4:30 PM ET Company Participants Ajay Shah - Chairman Mark Adams - CEO Jack Pacheco - CFO Suzanne Schmidt - IR Conference Call Participants Rajvi Gill - Needham & Company Brian Chin - Stifel, Nicolaus & Company Kevin Cassidy - Rosenblatt Securities Sidney Ho - Deutsche Bank Blayne Curtis - Barclays Mark Lipacis - Jefferies Operator Ladies and gentlemen, thank you for standing by and welcome to the SMART Global Holdings ...

O C T O B E R 1 , 2 0 2 0 Q4 FY2020 Financial Results Conference Call SMART Disclaimer 2 This presentation and oral communications made during the course of this presentation contain "forward-looking statements" including among other things, statements regarding future events and the future financial performance of SMART Global Holdings, Inc. (including the business outlook for the next fiscal quarter) and statements regarding growth drivers in SMART's industries and markets. These statements are only predi ...

Financial Data and Key Metrics Changes - Total net sales for Q3 2020 increased by approximately 19% compared to the same quarter last year, driven by strength in the Specialty Memory business [9] - Non-GAAP net income and EPS increased by 116% and 106% respectively compared to last year's third fiscal quarter [9] - Non-GAAP gross profit for Q3 was $55.9 million, up from $52.9 million in the previous quarter [32] - Non-GAAP net income for Q3 was $17.1 million or $0.70 per diluted share, compared to $12.8 million or $0.52 per diluted share in the previous quarter [33] - Cash flow from operations totaled $13.6 million compared to $23.3 million in the prior quarter [38] Business Line Data and Key Metrics Changes - Specialty Memory products generated $127.7 million in revenue, approximately 45% of overall revenue, a 15% increase from the previous quarter [11] - Brazil business generated $92.7 million in revenues, approximately 33% of overall net sales, meeting expectations despite pandemic-related economic slowdowns [16] - Specialty Compute products recorded revenues of $60.9 million, representing approximately 22% of overall revenue [22] Market Data and Key Metrics Changes - Breakdown of net sales by end markets: Mobile and PCs 27%, Network and Telecom 25%, Servers and Storage 15%, Industrial, Defense & Other 33% [31] - Brazilian smartphone market is forecasted to see a unit sales slowdown, but average mobile memory capacity per phone continues to increase [17] Company Strategy and Development Direction - The company is focused on expanding its reach across new geographies and customers, particularly in high-performance computing and specialty memory [10][28] - The company is evaluating opportunities for accretive acquisitions to strengthen and diversify its operations [28] - The introduction of new high-density products is expected to drive future growth, particularly in the Brazilian market [21][87] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong financial performance ahead, despite uncertainties in the market [10] - The company is navigating the global health crisis effectively, with a focus on employee safety and adapting to new work environments [27] - Management noted that the federal year-end spending is delayed, impacting visibility on government contracts [48] Other Important Information - The company has a strong balance sheet with improved capital structure following the restructuring of debt [38][109] - Capital expenditures for the fourth fiscal quarter are expected to be in the range of $6 million to $10 million [45] Q&A Session Summary Question: Expectations for recovery in Brazil and other segments - Management indicated uncertainty regarding the duration of project delays but noted strong commercial sales in high-performance computing [48][49] Question: Gross margins and factors affecting them - Management attributed the increase in gross margins to a higher mix of specialty computing and mobile products [54] Question: Memory content and average selling price trends - Management expects a 15% to 20% growth in average selling prices in Q4 due to new product releases [57] Question: Gross margin by segment - Brazil's gross margin was approximately 21%, while specialty compute was at 24% [61] Question: Lead times for DRAM and flash - DRAM lead times have decreased slightly, while flash remains at around 16 weeks [63] Question: Significance of the 7-die device - The 7-die device is expected to increase density and is already being shipped in some phones [68] Question: Government business and budget flush - Management expressed uncertainty about the typical year-end budget flush due to the current environment [102] Question: M&A environment during the pandemic - The M&A environment remains active, with the company looking for strategic opportunities [106][109]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 May 29, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38102 SMART GLOBAL HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) Cayman Islands 98-1013909 ( State or other jurisdiction of incorporation or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the quarterly period ended February 28, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-38102 SMART GLOBAL HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) Cayman Islands 98-1013909 ( State or other jurisdiction of incorporation or organization) c/o Maples Corporate Services Limited P.O. Box 309 Ugland House Grand Cayman, Cayman Islands KY1-1104 (Address of ...

Financial Performance - Net sales for the three months ended November 29, 2019, were $272,018 thousand, a decrease of 30.8% compared to $393,879 thousand for the same period in 2018[15]. - Gross profit for the same period was $54,320 thousand, down 36.2% from $85,069 thousand year-over-year[15]. - Net income for the three months ended November 29, 2019, was $224 thousand, a significant decline from $30,976 thousand in the same period of 2018[15]. - Total net revenue for the three months ended November 29, 2019, was $272.0 million, compared to $393.9 million for the same period in 2018[193]. - Basic earnings per share for the three months ended November 29, 2019, was $0.01, down from $1.37 in the prior year[188]. - Operating expenses increased to $48.4 million, or 18% of net sales, compared to $37.3 million, or 9% of net sales, in the prior year[193]. - Cash provided by operating activities was $25.3 million, down from $35.4 million in the same period last year[208]. Revenue Breakdown - Service revenue, net for the same period was $7.9 million, down 45.9% from $14.6 million in the prior year[47]. - Product net sales were $264.1 million, a decline of 30.4% from $379.2 million in the previous year[47]. - Brazil product sales decreased by $105.3 million, or 52.8%, primarily due to lower average selling prices for mobile memory and DRAM products, which declined by 71% and 67%, respectively[194]. - Specialty products sales decreased by $36.4 million, or 26.0%, mainly due to a 34% drop in average selling prices for Specialty DRAM products[194]. - Revenue from Specialty Compute and Storage Solutions (SCSS) increased by $19.8 million, or 36.3%, driven by two recent acquisitions in July 2019, contributing $27.5 million of revenue for the quarter[194]. Expenses and Costs - Research and development expenses increased to $14,886 thousand, up 26.5% from $11,816 thousand in the prior year[15]. - Cost of sales decreased by $91.1 million, or 29.5%, compared to the same period in the prior year, primarily due to lower raw material costs[195]. - Selling, general and administrative (SG&A) expense increased by $8.1 million, or 31.8%, mainly due to higher costs associated with new SCSS businesses and acquisitions[198]. - Interest expense, net decreased by $1.4 million, or 23.5%, due to higher interest income and lower revolver fees[199]. Assets and Liabilities - Total assets as of November 29, 2019, were $782,733 thousand, an increase of 11.1% from $704,137 thousand as of August 30, 2019[12]. - Total liabilities increased to $510,949 thousand as of November 29, 2019, compared to $430,677 thousand as of August 30, 2019, reflecting a rise of 18.6%[12]. - The company’s long-term debt as of November 29, 2019, was $177,303 thousand, a slight decrease from $182,450 thousand as of August 30, 2019[12]. - Accounts receivable increased by $11.3 million from $217.4 million as of August 30, 2019, to $228.8 million as of November 29, 2019[48]. - Total prepaid expenses and other current assets decreased from $37,950,000 on August 30, 2019 to $32,158,000 on November 29, 2019, a reduction of approximately 15%[119]. Acquisitions - The company incurred a total purchase price of approximately $77.7 million for the acquisition of SMART Embedded Computing, Inc., which includes a base purchase price of $75 million and estimated fair value of contingent consideration of $2.7 million[88][92]. - The acquisition of SMART Embedded Computing resulted in the recognition of identifiable intangible assets valued at $41.9 million, including customer relationships valued at $31.8 million and technology valued at $10.1 million[93]. - The company paid approximately $14.6 million for the acquisition of SMART Wireless Computing, which included $3.2 million in cash and $9.1 million in ordinary shares[96]. - The total purchase consideration for the Penguin Computing acquisition was $44,606,000, which included $42,316,000 in net cash for the merger and $3,000,000 in estimated fair value of contingent consideration[108]. - The acquisition of Penguin Computing resulted in identifiable intangible assets valued at $27,550,000 and goodwill of $5,246,000, enhancing the company's capabilities in specialty compute, storage, and networking markets[111]. Cash Flow and Investments - Cash and cash equivalents at the end of the period were $111,389 thousand, up from $98,139 thousand at the end of the previous quarter, representing a 13.0% increase[24]. - Net cash used in investing activities was $5.1 million, primarily for purchases of property and equipment[210]. - The company financed acquisitions of SMART EC and SMART Wireless for approximately $77 million and $14 million, respectively, using cash from operations and issued shares[205]. Tax and Compliance - Provision for income taxes decreased by $7,300,000 from $7,619,000 in the three months ended November 30, 2018 to $325,000 in the same period of 2019, a decrease of approximately 96.7%[132]. - The company has adopted U.S. GAAP for financial reporting, ensuring compliance with SEC regulations[31]. Stock and Compensation - Share-based compensation expense for the three months ended November 29, 2019, totaled $5.956 million, an increase from $4.055 million in the same period of 2018[77]. - The total intrinsic value of employee stock options exercised in the three months ended November 29, 2019 was $1.3 million, down from $4.1 million in the same period of 2018[166]. - The fair value of options granted under the SGH Plan during the three months ended November 29, 2019 was $11.85 per share, down from $14.41 per share in the same period of 2018[166].

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 August 30, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code: (510) 623-1231 Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of each exchange on ...