Financial Data and Key Metrics Changes - In Q2, the company reported total worldwide revenue of $15.3 billion, representing a 4% year-over-year growth when adjusted for constant currency and revenue policy alignment related to the merger [14][15] - Non-GAAP diluted EPS was $2.72, with total non-GAAP net income of $262 million [18] - Gross profit was $956 million, with a gross margin of 6.3%, up from 5.8% in the prior year [16] Business Line Data and Key Metrics Changes - The Advanced Solutions segment experienced higher growth rates compared to the Endpoint segment, with strong demand continuing in the Advanced Solutions category [30] - The PC segment saw moderation in growth, particularly in the consumer and Chromebook areas, while commercial PCs maintained good demand [28][30] - The distribution business grew across all regions, with the Americas showing strong year-over-year growth [12] Market Data and Key Metrics Changes - The Americas market is described as robust, with growth rates in the mid to high single digits, while the European market has been relatively flat due to geopolitical issues [40] - The hyperscale infrastructure business faced a decline year-over-year but is expected to grow on a long-term basis [12][46] Company Strategy and Development Direction - The company is focused on a 4-pillar strategic framework aimed at investing in high-growth technologies such as hybrid cloud, security, data analytics, and hyperscale infrastructure [9] - The integration of the merger is progressing well, with a commitment to achieving $200 million in merger cost synergies [22][56] Management's Comments on Operating Environment and Future Outlook - Management remains confident in the demand environment, expecting decent IT spending growth in the second half of the year despite macroeconomic concerns [36][40] - The company anticipates total revenues for Q3 to be in the range of $14.5 billion to $15.5 billion, reflecting a year-over-year growth of around 10% at the midpoint [23] Other Important Information - The company ended the quarter with cash and cash equivalents of $522 million and debt of $4.1 billion, with a gross leverage ratio of 2.4 times [19] - A cash dividend of $0.30 per common share has been approved, expected to be paid on July 29, 2022 [21] Q&A Session Summary Question: Commentary on overall demand environment and PC moderation - Management noted that while commercial PCs have good demand, the consumer segment, particularly Chromebooks, is weaker [28][30] Question: Impact of inventory build and supply chain challenges - The inventory build was balanced between distribution and hyperscale, with expectations for a slight decrease in the upcoming quarter [31][49] Question: FX impact on revenue and EPS guidance - Management acknowledged a $0.14 headwind from FX but remains confident in maintaining EPS guidance for fiscal '22 [34][36] Question: Pricing environment and wage inflation - There have been consistent price changes across the board, and labor inflation is being managed through competitive compensation [37][38] Question: Demand trends and customer behavior - Management sees strong demand in the Advanced Solutions category and high-growth technologies, while PC demand is moderating [90] Question: Turnover rates and integration progress - Turnover is elevated but manageable, with stability among top leadership executives [64][66] Question: Synergies tracking and potential for higher total synergy numbers - The company is on track to achieve $200 million in synergies, with no new elements identified but moving faster than expected [56][57]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _______________________________________________________________________ FORM 10-Q _______________________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition perio ...

Financial Data and Key Metrics Changes - Total worldwide revenue for Q1 2022 was $15.5 billion, an increase of 1.5% from the prior year when normalizing for the merger, and approximately 6% when adjusted for constant currency [14][16] - Gross profit was $969 million with a gross margin of 6.3%, reflecting a favorable product mix and good execution [15] - Non-GAAP net income was $292 million, with non-GAAP diluted EPS at $3.03 [16] - Cash and cash equivalents at the end of the quarter were $510 million, with total debt of $5 billion, resulting in a gross leverage ratio of 3.1 times [17] Business Line Data and Key Metrics Changes - The Advanced Solutions segment showed strength, driven by increased demand for IT infrastructure solutions as businesses reopened [9][39] - The Endpoint segment continues to experience backlog issues, with long lead times for networking and storage products [58] Market Data and Key Metrics Changes - All three geographic regions performed at or better than expectations despite selective lockdowns due to COVID-19 [10] - The company noted ongoing supply chain disruptions but observed early signs of marginal improvement in backlog levels [10] Company Strategy and Development Direction - The company is focused on executing its integration plans and achieving merger-related synergy targets, with a capital allocation framework targeting dividends and share repurchases [11][18] - The company is committed to enhancing its global policies and aligning corporate culture, emphasizing a servant leadership model [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the ongoing geopolitical tensions and their potential impact on the macro economy and supply chain [13] - The company expects total revenue for fiscal Q2 to be in the range of $14.8 billion to $15.8 billion, reflecting a year-on-year growth of around 3% [22] Other Important Information - The company plans to repurchase approximately $100 million in shares during fiscal 2022, with $25 million already repurchased in Q1 [18] - The cash conversion cycle for Q1 was 24 days, higher than the previous quarter, primarily due to strategic inventory purchases [17][32] Q&A Session Summary Question: Margin differential between SYNNEX and Tech Data - Management explained that margin differentials are primarily driven by regional mix, with European margins generally lower due to structural complexities [26] Question: Enhancements or pruning of line cards - Management indicated a focus on enhancing line cards to capture new entrants in the market while noting that significant pruning activities have been completed [29][30] Question: Strategic inventory purchases and cash conversion cycle - Management acknowledged the temporary increase in inventory and confirmed the target of $1 billion in free cash flow for the year [32] Question: Drivers of strong top-line results - Management attributed the strong results to an acceleration in the Advanced Solutions segment and backlog resolution in the Endpoint segment [38][39] Question: Operating margin expectations for Q2 - Management noted that seasonal behaviors typically lead to a slight decrease in margins from Q1 to Q2, with no structural changes anticipated [51] Question: Pricing pressures and wage inflation - Management discussed ongoing price increases from vendors and the impact of inflation on labor and freight costs, emphasizing their strategy to manage these pressures [52][53] Question: Backlog commentary differentiation - Management clarified that improvements in backlog are primarily seen in the Endpoint segment, while the Advanced Solutions segment continues to face challenges [58] Question: Full-year outlook and revenue synergies - Management raised the full-year guidance, citing better-than-expected performance and the realization of synergies, while noting that revenue synergies will be more apparent once ERP systems are consolidated [67][71]

Table of Contents 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 November 30, 2021 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: 001-31892 TD SYNNEX CORPORATION (Exact name of registrant as specified in its charter) Delaware 94-2703333 (State or o ...

(©) td synnex INVESTOR PRESENTATION JANUARY 2022 SAFE HARBOR STATEMENT Statements in this presentation regarding TD SYNNEX Corporation which are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terms such as believe, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These fo ...

TD Synnex Corp (NYSE:SNX) Q4 2021 Earnings Conference Call January 11, 2022 9:00 AM ET Company Participants Liz Morali - Senior Manager, IR Richard Hume - CEO & President Marshall Witt - CFO Conference Call Participants James Suva - Citigroup Keith Housum - Northcoast Research Partners Adam Tindle - Raymond James & Associates Ananda Baruah - Loop Capital Markets Ruplu Bhattacharya - Bank of America Merrill Lynch Shannon Cross - Cross Research Matthew Sheerin - Stifel, Nicolaus & Company Vincent Colicchio - ...

Financial Performance & Outlook - Q3 FY21 revenue was $5.2 billion, a 2% year-over-year decrease due to supply chain issues[22, 25] - Q3 FY21 Non-GAAP operating margin was 3.23%, a 43 bps year-over-year increase[23, 25] - The company anticipates Q4 FY21 revenue between $15 billion and $16 billion[29] - Q4 FY21 non-GAAP net income is projected to be between $242 million and $272 million[29] - Q4 FY21 non-GAAP diluted EPS is expected to be in the range of $2.50 to $2.80[29] Strategic Initiatives & Financial Strength - The company expects over 25% accretion to non-GAAP diluted EPS in the first year following the merger[15] - The company aims for $200 million in net annual cost optimization benefits by the end of the second year[15] - The company has approximately $4.5 billion in liquidity, including ~$1 billion in cash and cash equivalents and $3.5 billion available from the Revolving Credit Facility[31] - The company's net debt-to-LTM adjusted EBITDA is approximately 0[34] Historical Data - The company's revenue has grown consistently, reaching $22.1 billion in the trailing twelve months (TTM)[20]

TD SYNNEX (NYSE:SNX) Q3 2021 Earnings Conference Call September 28, 2021 9:00 AM ET Company Participants Liz Morali - Investor Relations Marshall Witt - Chief Financial Officer Rich Hume - Chief Executive Officer Conference Call Participants Adam Tindle - Raymond James Shannon Cross - Cross Research Jim Suva - Citigroup Matt Sheerin - Stifel Ananda Baruah - Loop Capital Ruplu Bhattacharya - Bank of America Operator Good morning. My name is Misty and I'll be your conference operator today. I would like to we ...

PART I - FINANCIAL INFORMATION [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited Consolidated Financial Statements for the quarter ended May 31, 2021, including the impact of Concentrix's separation as discontinued operations [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets decreased from **$13.47 billion** to **$8.16 billion** due to the Concentrix separation, impacting both assets and liabilities Consolidated Balance Sheet Highlights (in thousands) | Account | May 31, 2021 | November 30, 2020 | | :--- | :--- | :--- | | **Total current assets** | $7,239,756 | $8,769,127 | | **Total assets** | $8,159,898 | $13,468,590 | | **Total current liabilities** | $4,270,330 | $5,630,092 | | **Total liabilities** | $5,904,230 | $9,129,730 | | **Total stockholders' equity** | $2,255,668 | $4,338,860 | - The November 30, 2020 balance sheet includes **$1.42 billion** in current assets and **$3.75 billion** in noncurrent assets from discontinued Concentrix operations, separated December 1, 2020[12](index=12&type=chunk)[58](index=58&type=chunk) [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) Revenue increased **31.0%** to **$5.86 billion** for the quarter, with diluted EPS from continuing operations rising to **$1.78** from **$0.97** year-over-year Statement of Operations Summary (in thousands, except per share amounts) | Metric | Q2 2021 (Three Months Ended May 31, 2021) | Q2 2020 (Three Months Ended May 31, 2020) | Change YoY | | :--- | :--- | :--- | :--- | | **Revenue** | $5,856,825 | $4,470,928 | +31.0% | | **Gross Profit** | $329,175 | $274,616 | +19.9% | | **Operating Income** | $147,901 | $88,144 | +67.8% | | **Income from Continuing Operations** | $93,102 | $50,192 | +85.5% | | **Net Income** | $93,102 | $56,960 | +63.4% | | **Diluted EPS (Continuing Operations)** | $1.78 | $0.97 | +83.5% | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to **$304.3 million** from **$1.23 billion** year-over-year, with **$149.9 million** transferred to Concentrix Cash Flow Summary (Six Months Ended May 31, in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $304,318 | $1,226,481 | | **Net cash used in investing activities** | ($7,515) | ($91,960) | | **Net cash used in financing activities** | ($221,960) | ($237,646) | - A key financing activity was the net transfer of **$149.9 million** in cash and cash equivalents to Concentrix as part of the separation[26](index=26&type=chunk) [Notes to the Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) Notes detail the Concentrix separation, customer concentration, borrowings, and the pending **$1.61 billion** Tech Data merger, including its financing - On December 1, 2020, the company completed the separation of its Concentrix business, which is now an independent public company[29](index=29&type=chunk) - One customer accounted for **25%** of total revenue and **20%** of consolidated accounts receivable, indicating significant customer concentration[40](index=40&type=chunk)[41](index=41&type=chunk) - SYNNEX announced an agreement to acquire Tech Data Corporation for approximately **$1.61 billion** in cash and **44 million** shares, expected to close in the second half of 2021[142](index=142&type=chunk)[145](index=145&type=chunk) - A new credit agreement for a **$3.5 billion** revolving credit facility and a **$1.5 billion** term loan was secured to finance the Tech Data merger[101](index=101&type=chunk)[104](index=104&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Revenue grew **31.0%** driven by remote work and data center demand, while gross margin declined to **5.62%**; the cash conversion cycle improved to **26 days** Key Performance Indicators (Q2 2021 vs Q2 2020) | Metric | Q2 2021 | Q2 2020 | | :--- | :--- | :--- | | **Revenue** | $5,856.8M | $4,470.9M | | **Gross Profit** | $329.2M | $274.6M | | **Gross Margin** | 5.62% | 6.14% | | **Operating Income** | $147.9M | $88.1M | | **Operating Margin** | 2.53% | 1.97% | - Revenue growth was driven by continued demand for remote work solutions and a recovery in return-to-office and data center spending[180](index=180&type=chunk)[181](index=181&type=chunk) - The cash conversion cycle improved to **26 days** from **43 days** year-over-year, driven by faster inventory turnover and improved accounts receivable collections[196](index=196&type=chunk)[197](index=197&type=chunk) Non-GAAP Reconciliation (Three Months Ended May 31, 2021) | Metric (in thousands) | GAAP | Adjustments | Non-GAAP | | :--- | :--- | :--- | :--- | | **Operating Income** | $147,901 | $22,058 | $169,959 | | **Diluted EPS** | $1.78 | $0.31 | $2.09 | [Quantitative and Qualitative Disclosures about Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages foreign currency risk, primarily CAD, BRL, EUR, and JPY, using forward contracts, with a **10%** USD weakening resulting in a **$25.7 million** derivative loss - The company uses forward contracts to hedge foreign currency risk for receivables, payables, and intercompany transactions, primarily in CAD, BRL, EUR, and JPY[243](index=243&type=chunk) Foreign Currency Derivative Sensitivity Analysis (as of May 31, 2021) | U.S. Dollar Change | Hypothetical Gain/(Loss) on Derivatives | | :--- | :--- | | -10% (Weakening) | ($25,748,000) | | +10% (Strengthening) | $12,629,000 | [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of May 31, 2021, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective[247](index=247&type=chunk) - No material changes to internal control over financial reporting occurred during the last fiscal quarter[248](index=248&type=chunk) PART II - OTHER INFORMATION [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) New risks primarily relate to the Tech Data acquisition, including integration challenges, increased debt, transaction failure, and LIBOR discontinuation - **Merger Integration Risk:** Successful integration of Tech Data is crucial for realizing anticipated benefits, involving technology, operations, and personnel retention[253](index=253&type=chunk)[254](index=254&type=chunk)[257](index=257&type=chunk) - **Increased Debt Risk:** Total debt is expected to increase to approximately **$4 billion** to fund the acquisition, potentially impacting financial position and covenants[263](index=263&type=chunk) - **Transaction Risk:** Failure to complete the merger could negatively impact stock price and business, potentially incurring a **$131.7 million** termination fee[260](index=260&type=chunk)[264](index=264&type=chunk) - **LIBOR Discontinuation Risk:** The anticipated discontinuation of LIBOR by year-end 2021 creates uncertainty for variable-rate debt, potentially impacting interest expense and cash flows[269](index=269&type=chunk) [Exhibits](index=45&type=section&id=Item%206.%20Exhibits) This section lists key exhibits filed with the Form 10-Q, including the Tech Data Merger Agreement and related financing documents - Key exhibits include the Tech Data Merger Agreement, Bridge Commitment Letter, new Credit Agreement, and CEO/CFO certifications[271](index=271&type=chunk) Signatures The report was signed and authorized on July 7, 2021, by Dennis Polk, President and CEO, and Marshall W. Witt, CFO - The report was signed and authorized on July 7, 2021, by Dennis Polk, President and Chief Executive Officer, and Marshall W. Witt, Chief Financial Officer[274](index=274&type=chunk)

Financial Data and Key Metrics Changes - Total revenue for Q2 increased by 31% year-over-year to $5.9 billion [7] - Gross profit rose by 20% or $55 million compared to the prior year, totaling $329 million, with a gross margin of 5.6%, down from 6.1% in the prior year [8] - Non-GAAP operating income improved by $68 million or 67% year-over-year to $170 million, with a non-GAAP operating margin of 2.9%, up 62 basis points year-over-year [9] - Non-GAAP income from continuing operations was $109 million, up 68% from the prior year, with non-GAAP diluted EPS increasing to $2.09 from $1.26 [10] - Cash and cash equivalents at the end of the quarter were $1.7 billion, with total debt of $1.6 billion [10] Business Line Data and Key Metrics Changes - The manufacturing business performed above expectations, contributing to overall strong results across all product categories, particularly in notebooks, Chromebooks, cloud, security, services, networking, and collaboration [21] - Demand was strong across customer segments, with SMB and public sector leading the way [21] Market Data and Key Metrics Changes - All geographical regions met or exceeded expectations, indicating robust demand across the board [21] - The company noted ongoing strong demand for IT spending, particularly in the context of digital transformation and recovery in office and data center IT purchasing [20][26] Company Strategy and Development Direction - The company is focused on improving its core business, driving organic growth, and increasing value-added services and products, alongside successfully closing the proposed merger with Tech Data [30] - The merger is expected to enhance the company's ability to service customers and vendors globally, consolidating investments in next-gen IT products [58][61] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the IT spending environment, citing strong demand and the reopening of geographies as potential tailwinds for the business [26] - The company is planning for continued growth in its distribution business but is adopting a conservative approach due to supply chain challenges [27] - Management indicated that the ongoing COVID-19 pandemic has led to some delays in regulatory approvals for the merger, but they expect to close the transaction in the second half of 2021 [22][24] Other Important Information - The Board of Directors approved a quarterly cash dividend of $0.20 per common share, to be paid on July 30, 2021 [12] - The company has established a $5 billion credit facility for the planned merger with Tech Data [13] Q&A Session Summary Question: Margin performance between fiscal Q1 and Q2 - Management indicated that the sequential margin decline was primarily due to product mix rather than FX or COVID-related costs [34][35] Question: Higher consignment model transition - The transition to a higher consignment model is not expected to occur in fiscal 2021, with future impacts on revenue still to be determined [36][37] Question: Regulatory approvals for the merger - Management confirmed that they have received more than half of the necessary regulatory approvals for the merger [45] Question: Supply chain constraints - Supply chain challenges are affecting various product categories, including client devices and networking [46] Question: Conservative outlook on guidance - The conservatism in guidance is primarily due to supply chain challenges, with an estimated reduction of $150 million to $200 million in forecasted revenue [51][52] Question: Feedback from customers and vendors regarding the merger - Positive feedback has been received from customers and vendors, indicating a larger platform to meet their needs post-merger [58][61] Question: Demand for PCs and infrastructure spending - Demand remains strong across all business categories, with a notable recovery in the SMB sector and continued strength in public sector spending [70][71] Question: Pricing and commodity prices impact - Pricing is increasing, but management has not seen significant demand issues affecting sales cycles [89]