Presentation Title Nit. ZEBRA Click to enter Zebra Technologies First Quarter 2023 Results Safe Harbor Statement 2 ZEBRA TECHNOLOGIES First Quarter 2023 P&L Highlights (1) • Organic Net Sales (0.3)% ‒ Regional sales performance mixed; growth in APAC and NA offset declines in EMEA and LA ‒ Sales growth to small and medium size customers, moderating late in the quarter ‒ Printing, data capture, and RFID were bright spots; mobile computing declined • Non-GAAP Diluted EPS $3.94, (1.7)% year-over-year (1) Refer ...

Company Participants Tommy Moll - Stephens Damian Karas - UBS Jim Ricchiuti - Needham & Company Keith Housum - Northcoast Research Joe Giordano - TD Cowen Meta Marshall - Morgan Stanley Rob Mason - Baird Blake Keating - William Blair Guy Hardwick - Credit Suisse And at this time, I would now like to turn the conference over to Mike Steele, Vice President of Investor Relations. Please go ahead. During this call, we will reference non-GAAP financial measures as we describe our business performance. You can fi ...

Financial Data and Key Metrics Changes - For Q4 2022, Zebra Technologies reported a sales growth of approximately 4% and an adjusted EBITDA margin of 22.5%, which is an 80-basis-point increase year-over-year [7][13] - Non-GAAP diluted earnings per share increased by 5% to $4.75 compared to the prior year, with strong free cash flow generation [7][13] - Adjusted gross margin decreased by 10 basis points to 45.6%, while adjusted operating expenses improved by 100 basis points as a percentage of sales [13] Business Line Data and Key Metrics Changes - The Asset Intelligence and Tracking segment saw a 13.5% increase in sales, driven by double-digit growth in printing [11] - The Enterprise Visibility and Mobility segment's sales were approximately flat, with strong growth in data capture solutions and rugged tablets, while mobile computing sales declined [11] - Services and software also experienced growth with strong service attach rates [11] Market Data and Key Metrics Changes - North America sales increased by 11%, while EMEA sales declined by 7% due to the suspension of sales into Russia and lower sales to large customers in Northern Europe [12] - Asia-Pacific sales grew by 3%, with notable strength in Japan and growth in China despite COVID challenges [12] - Latin America sales increased by 7%, driven by strong growth in Brazil and Mexico [12] Company Strategy and Development Direction - The company is focused on advancing its Enterprise Asset Intelligence vision, emphasizing the importance of digitizing and automating workflows [21][24] - Zebra aims to leverage mega trends such as the on-demand economy, asset visibility, mobility, and intelligent automation to drive growth [24] - The company is well-positioned to deliver 5% to 7% organic growth over a cycle, with an increasing attractive margin profile [25] Management's Comments on Operating Environment and Future Outlook - Management noted cautious spending behavior from large customers but solid demand from small to midsized orders [8] - The outlook for Q1 2023 anticipates a sales decline of 4% to 1%, with expectations of negative 1% organic growth [17][18] - For the full year 2023, net sales are expected to decline by 3% to grow by 1%, with an adjusted EBITDA margin between 22% and 23% [18] Other Important Information - The company generated $413 million in free cash flow in 2022, with a significant reduction in premium supply chain costs expected in 2023 [14][19] - Zebra invested approximately $880 million in the Matrox Imaging acquisition to expand its machine vision solutions offering [15] Q&A Session Summary Question: Impact of inventory channel destocking on sales outlook - Management indicated that global channel inventory levels are healthy, with solid sell-through signals, and inventory levels normalized compared to pre-pandemic [31] Question: Margin trajectory and premium supply chain costs - Management explained that the adjusted EBITDA guidance reflects improvements from supply chain costs, offset by foreign exchange headwinds [32][33] Question: Outlook for projects business in 2023 - Management noted mixed signals with elongated sales cycles and some softening of demand, but a strong backlog and healthy pipeline for projects [35][36] Question: Changes in demand across geographic regions - Management acknowledged some anomalies due to the exit from Russia and COVID impacts in China, but overall no major shifts in revenue structure [39] Question: Trends in gross margin versus operating expenses - Management expects gross margin to increase throughout the year due to supply chain improvements, while operating expenses are anticipated to remain flat [41][42] Question: RFID market contribution and growth opportunities - Management highlighted that RFID is a low single-digit contributor currently, but significant growth opportunities exist across various sectors [43][44] Question: Customer spending adaptations and deal delays - Management noted that customers are adapting their spending to budgets, leading to delays in deployment schedules rather than downsizing deals [49] Question: Supply chain recovery timeline - Management indicated that most components have returned to reasonable lead times, with significant improvements expected in the first quarter [50][51] Question: Changes in deal sizes and Matrox integration - Management confirmed no significant downsizing of deals, and the integration of Matrox is progressing well with promising opportunities in machine vision [54][55] Question: Trends in different verticals for 2023 - Management observed strong secular trends across verticals, with manufacturing showing significant growth and health care expected to remain resilient [70][78]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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 000-19406 Zebra Technologies Corporation (Exact name of registrant as specified in its charter) (State or other jurisdiction of in ...

Zebra Technologies Corporation (NASDAQ:ZBRA) Q3 2022 Earnings Conference Call November 1, 2022 8:30 AM ET Company Participants Mike Steele - Vice President, Investor Relation Anders Gustafsson - Chief Executive Officer Nathan Winters - Chief Financial Officer Joe Heel - Chief Revenue Officer Conference Call Participants Tommy Moll - Stephens Andrew Buscaglia - Berenberg Jim Ricchiuti - Needham & Company Erik Lapinski - Morgan Stanley Damian Karas - UBS Brian Drab - William Blair Keith Housum - North Coast R ...

Zebra Technologies Third Quarter 2022 Results ZEBRA TECHNOLOGIES November 1, 2022 NIL ZEBRA Insert Section Title Here Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or implied in the company's forward-looking statements. Zebra may elect to update forward-looking stat ...

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Zebra Technologies Second Quarter 2022 Results ZEBRA TECHNOLOGIES NI. ZEBRA August 2, 2022 Insert Section Title Here Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or implied in the company's forward-looking statements. Zebra may elect to update forward-looking state ...

Zebra Technologies Corporation (NASDAQ:ZBRA) Q1 2022 Earnings Conference Call May 3, 2022 8:30 AM ET Company Participants Mike Steele - Vice President, Investor Relations Anders Gustafsson - Chief Executive Officer Nathan Winters - Chief Financial Officer Joe Heel - Chief Revenue Officer Conference Call Participants Tommy Moll - Stephens Keith Housum - Northcoast Research Andrew Buscaglia - Berenberg Jim Ricchiuti - Needham & Company Meta Marshall - Morgan Stanley Joseph Donahue - Baird Damian Karas - UBS O ...

Zebra Technologies First Quarter 2022 Results ZEBRA TECHNOLOGIES May 3, 2022 No. ZEBRA Insert Section Title Here Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results may differ from those expressed or implied in the company's forward-looking statements. Zebra may elect to update forward-looking statement ...