2013 Investor & Analyst Day

Chris Collier, Chief Financial Officer

2

A Financial Strategy That Supports Our Platform

Committed to increasing shareholder value

The

Flextronics

Platform

Revenue Growth

Operating Profit

Expansion

EPS Accretion

Cash Flow

Generation

Capital

Structure

Strength

FINANCIAL

PRINCIPLES

FY13 Year in Review

4

FY13 Performance - Revenue

Our execution was challenged by weak macro and customer demand softness

• Significant weakness in Multek

• Power business program delays

INS

IEI

Components

HRS

HVS

$23.6B

INS

HVS

IEI HRS

May

2012

Target

Components

FY13

Actual

$26-27B • Significant weakness in telecom

and server/storage

• Accelerated exit of RIM

• Demand softness in consumer

• Weak demand in semi-cap

• Strong growth in appliances

• Strong growth in Medical/Auto

• Strategic acquisitions

5

FY13 Performance – Adjusted Operating Margin

Factory under-absorption due to

revenue reduction

Multek factory under-absorption

due to revenue reduction

Strong operational execution

despite sharp revenue reduction

Stable margin while revenue under

pressure

Components

IEI

HVS

Performed to plan HRS

INS

Missing our target is not acceptable

2.6%

Components

HRS

INS

HVS IEI

3.3% May

2012

Target

FY13

Actual

6

$182 $185 $200

$209

~ $215

Q1'13 Q2'13 Q3'13 Q4'13 FY14E

SG&A* Expense Trend ($ Millions)

Investing in the Platform for Growth

Focused and disciplined investment to optimize our Platform

• Incremental spend associated with

acquisitions

• Boosting innovation and our supply

chain solutions technologies

• Enhancing selling and business

development capabilities

• Incremental corporate infrastructure

Stabilized at ~$215M quarterly run rate

Quarterly

run rate

*Adjusted SG&A includes Design and R&D expense but excludes stock compensation expense and restructuring charges

7

Charges ($ Millions)

FY’13 Q1’14E

Update

Cash Charges $123 ~$30 - $35

Non-Cash Charges 104 ~5

Total Charges $227 ~$35 - $40

Restructuring Program Update

Program Benefits:

• Estimated savings increased to ~$160M

• Cost reductions in headcount, depreciation

and operating expense

• 95% of savings associated with cost of sales

Positioned for improved operational efficiency and profitability

~$10M ~$20M

~$35M ~$40M

Q4'13 Q1'14 Q2'14 Q3'14

Savings Trajectory to ~$160M Estimated quarterly savings

Program Update:

• Slight expansion to ~$35 - $40M

• One additional factory closing and other

rationalization efforts

• Accounting charges completed in Q1’14

8

FY13 Year in Review

Achieved record quarterly revenue of ~$350M at its target margin

Securing new business broadly distributed across our portfolio

Repurchased 52M shares; brings our total net buyback to 27% of

shares outstanding since FY09

$1B bond deal that extended our average debt maturity by ~3 years

Generated over $1B in Operating Cash Flow, and

over $680M in Free Cash Flow

Exceptional bookings

Strong Cash Flow

Improved Capital Structure

Executed Share Repurchases

Re-Positioned Power Business

Despite some challenges this past year, we accomplished . . .

Further strengthening our competitiveness

Portfolio Management

10

Diversification

Margins

Reduced Volatility

Working Capital

EPS Accretion

Flex

Balanced Portfolio Drives Optimal Shareholder Return

HVS

100%

Low-Volume

High Mix

100% 60/40 70/30

Revenue OP EPS Revenue OP EPSRevenue OP EPS

Less

Optimal Optimal

FY14 Roadmap to

Improved Performance

12

Execution is paramount to achieve our desired results

Our Platform Creates Significant Earnings Expansion

1 Adjusted EPS is tax effected at 9% and assumes 650M shares outstanding

2 Adjusted operating profit reflects an estimated incremental $30M restructuring benefit achieved upon full savings run rate

Revenue

Operating

Profit

Operating

Margin

EPS1

~$750M

~$15M

~2.0%

2¢

~$350M

~$16M

~4.5%

2¢

-----

~$30M2

-----

4¢

-----

~$10M

-----

1¢

Google/MOT

Muted

Seasonality Restructuring Other

$5.3B

~$106M

2.0%

13¢

March

2013

~$500M

~$23M

~4.5%

3¢

New

Bookings

Ramp

$6.9B

~$200M

~2.9%

25¢

Revenue Growth

Path to 30%+

Growth

Cash Flow Generation &

Capital Structure

14

$175

$370

$518 $500 $500

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

($ Millions) Mar 31

2012

Mar 31

2013

Cash $1,518 $1,587

Debt 2,189 2,068

Net Debt 671 481

Debt/EBITDA¹ (LTM)

1.9x 1.9x

Total

Liquidity² 2,878 3,087

Strong Capital Structure Significant Debt Maturities ($ Millions)

5% Sr. Notes 4.625% Sr. Notes

Our capital structure is in excellent shape and positioned to support our growth

¹ Debt/EBITDA: total funded debt divided by LTM EBITDA

² Total liquidity: cash at quarter-end plus unused revolver capacity

Term Loans

15

Target

$3 - $4 Billion

$3 Billion

715

855

622

463 416

680

FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14E FY'15E FY'16E FY'17E

Free Cash Flow Generation

Fundamentally Structured for Cash Flow Generation

• Growing operating profit

• Sustaining optimal working

capital management

• Maintaining disciplined

capex investments

Generating strong sustainable cash flow to support our growth

($ Millions)

16

Capital Allocation Strategy

~25% Strategic

Acquisitions

• Strategic value

• Revenue and operating growth

• EPS accretive

~40% Capex

• Invest for top-line growth

• Innovative solutions

• Sustaining our platform

~35% Returning

Value

• Committed to share repurchase

• Potential for dividends

Creating shareholder value with a long-term vision

Guidance &

Key Takeaways

18

Reiterate Guidance for Q1FY14 (June Qtr)

FLEX Business Groups JUN-13E Q/Q Outlook

Integrated Network Solutions Flat

Industrial & Emerging Solutions Low Single-Digit Growth

High Reliability Solutions Flat

High Velocity Solutions Low Double-Digit Growth

JUN-13E

Quarterly

Revenue

($ Millions)

$5,600

$5,300

JUN-13E

Quarterly

Adjusted EPS

$0.16

$0.12

19

Key Takeaways

Our Platform provides complete supply chain solutions Competitively Advantaged

Our financial principles are the foundation for growth Accountability

Positioned and committed to increasing shareholder value

Strategically investing and optimizing our Platform Smart Investments

20

Appendix: Notes

The non-GAAP financial measures included in this presentation: adjusted SG&A, adjusted operating profit &

margin, adjusted EPS, debt to EBITDA and free cash flow may exclude certain amounts that are included in the

most directly comparable measures under GAAP or may be a supplemental measure of operating performance.

Adjusted financial measures exclude charges primarily for restructuring, stock-based compensation expense and

intangible amortization. Please refer to the Investors section of our website which contain the reconciliation of

non-GAAP financial measures to the most directly comparable GAAP measures.

Adjusted operating margin by business group excludes intangible amortization, stock compensation expense and

restructuring charges and represent approximations as the company does not include formal allocations of

common facilities and overhead costs, or centralized corporate services such as marketing, IT and other

administrative support. Although discrete financial information exists to a limited degree, the company

opportunistically allocates its resources according to specific customer opportunity irrespective of the business

group in which the business activity will be reported.

Q1FY14E Guidance Notes:

Quarterly GAAP earnings per diluted share are expected to be lower than the guidance provided herein by

approximately $0.03 reflecting quarterly intangible amortization and stock-based compensation expense, and by

approximately $0.06 for the remaining restructuring charges.