UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORTPursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2020

TE CONNECTIVITY LTD.(Exact name of registrant as specified in its charter)

Switzerland 98-0518048(Jurisdiction of Incorporation) (IRS Employer Identification Number)

001-33260(Commission File Number)

Mühlenstrasse 26, CH-8200 SchaffhausenSwitzerland

(Address of Principal Executive Offices, including Zip Code)

+41 (0)52 633 66 61(Registrant’s telephone number, including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the followingprovisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading symbol Name of each exchange on which registeredCommon Shares, Par Value CHF 0.57 TEL New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On April 28, 2020, TE Connectivity Ltd. (the “Company”) issued a press release reporting the Company’s second quarter results for fiscal 2020. Acopy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference in this Item 2.02.

Item 7.01. Regulation FD Disclosure

The Company will hold a conference call and webcast on April 28, 2020 (see information in the press release attached hereto as Exhibit 99.1 under “Conference Call and Webcast”). A copy of the slide materials to be discussed at the conference call and webcast is being furnished pursuant to Regulation FD as Exhibit 99.2 and is incorporated herein by reference, and the slide materials also can be accessed at the “Investors” section of the Company’s website (www.te.com).

Item 9.01. Financial Statements and Exhibits

(d) Exhibits Exhibit No.

Description 99.1

Press release issued April 28, 2020 99.2

Presentation - TE Connectivity Q2 2020 Earnings Call (April 28, 2020)

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by theundersigned hereunto duly authorized.

Date: April 28, 2020 TE CONNECTIVITY LTD.

By: /s/ Heath A. Mitts Name: Heath A. Mitts

Title: Executive Vice President and Chief Financial Officer

Exhibit 99.1 

 

TE Connectivity announces second quarter results for fiscal year 2020 

Year to date free cash flow up 34% year-over-year; Company has excess of $2 billion in available liquidity

SCHAFFHAUSEN, Switzerland – April 28, 2020 – TE Connectivity Ltd. (NYSE: TEL) today reported results for the fiscal secondquarter ended March 27, 2020. Second Quarter Highlights

· Net sales were $3.2 billion, in line with the company’s guidance, down 6% on a reported and down 5% on an organicbasis over the second quarter of 2019.

· Diluted earnings per share (EPS) from continuing operations were a loss of $1.35. Adjusting for one-time impairmentcharge, adjusted EPS were $1.29, exceeding the high end of the company’s guidance.

· Cash flow from continuing operating activities was $481 million and free cash flow was $311 million. Year to datefree cash flow up 34% versus prior year. During the quarter the company returned $433 million returned toshareholders.

· Strong liquidity position with more than $2 billion available liquidity. “The market environment we guided to last quarter changed dramatically, and I’m pleased that we still delivered sales in line withour guidance and adjusted earnings per share above our expectations,” said TE Connectivity Chief Executive Officer TerrenceCurtin. “Despite the impact of COVID-19, we were able to maintain adjusted operating margins above 16% due to the diversity ofour portfolio, our global manufacturing strategy and our early execution of cost reduction actions. We continue to successfullyprioritize the safety of our employees while keeping our commitments to our customers, and I want to thank our employees fortheir strong execution in what has been an unprecedented time for our global community. We expect to see COVID-relateddemand impacts in the second half of the year particularly in the transportation and commercial aerospace markets, but ourstrong free cash flow and liquidity allows us to continue to invest in long-term global growth trends and position us for furthercontent growth when demand returns.”

2020 Outlook

For the fiscal third quarter of 2020, the company expects net sales to be down approximately 25% sequentially, reflecting theimpact of COVID-19 on the end demand environment, especially in the transportation and

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commercial aerospace markets. The company is withdrawing its full year guidance due to limited visibility of COVID-19 impacton future demand. Information about TE Connectivity’s use of non-GAAP financial measures is provided below. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, see the attached tables. Conference Call and WebcastThe company will hold a conference call today beginning at 8:30 a.m. ET. The dial-in information is provided here:

• At TE Connectivity's website: investors.te.com

• By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answerportion of the call, the dial-in number in the United States is (866) 211-4092, and for international callers, the dial-innumber is (647) 689-6620.

· A replay of the conference call will be available on TE Connectivity’s investor website at investors.te.com at 11:30 a.m.ET on April 28, 2020.

About TE ConnectivityTE Connectivity Ltd. (NYSE: TEL) is a $13 billion global industrial technology leader creating a safer, sustainable, productive,and connected future. Our broad range of connectivity and sensor solutions, proven in the harshest environments, enableadvancements in transportation, industrial applications, medical technology, energy, data communications, and the home. Withnearly 80,000 employees, including more than 8,000 engineers, working alongside customers in approximately 150 countries,TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat andTwitter. Non-GAAP Financial MeasuresWe present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjustedfinancial measures in addition to results in accordance with accounting principles generally accepted in the U.S. (“GAAP”).These non-GAAP financial measures provide supplemental information and should not be considered replacements for results inaccordance with GAAP. Management uses non-GAAP financial measures internally for planning and forecasting purposes andin its decision-making processes related to the operations of our company. We believe these measures provide meaningfulinformation to us and investors because they enhance the understanding of our operating performance, ability to generate cash,and the trends of our business. Additionally, we believe that investors benefit from having access to the same financial measuresthat management uses in evaluating our operations. The primary limitation of these measures is that they exclude the financialimpact of items that would otherwise either increase or decrease our reported results. This limitation is

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best addressed by using these non-GAAP financial measures in combination with the most directly comparable GAAP financialmeasures in order to better understand the amounts, character, and impact of any increase or decrease in reported amounts.These non-GAAP financial measures may not be comparable to similarly-titled measures reported by other companies.The following provides additional information regarding our non-GAAP financial measures:• Organic Net Sales Growth (Decline) – represents net sales growth (decline) (the most comparable GAAP financialmeasure) excluding the impact of foreign currency exchange rates, and acquisitions and divestitures that occurred in thepreceding twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of our performance because itexcludes items that are not completely under management’s control, such as the impact of changes in foreign currencyexchange rates, and items that do not reflect the underlying growth of the company, such as acquisition and divestiture activity.This measure is a significant component in our incentive compensation plans.• Adjusted Operating Income (Loss) and Adjusted Operating Margin – represent operating income (loss) and operatingmargin, respectively, (the most comparable GAAP financial measures) before special items including restructuring and othercharges, acquisition-related charges, impairment of goodwill, and other income or charges, if any. We utilize these adjustedmeasures in combination with operating income (loss) and operating margin to assess segment level operating performance andto provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted OperatingIncome (Loss) is a significant component in our incentive compensation plans.• Adjusted Other Income (Expense), Net – represents net other income (expense) (the most comparable GAAP financialmeasure) before special items including tax sharing income related to adjustments to prior period tax returns and other items, ifany.• Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit andeffective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special itemsincluding restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, andcertain significant tax items, if any.• Adjusted Income (Loss) from Continuing Operations – represents income (loss) from continuing operations (the mostcomparable GAAP financial measure) before special items including restructuring and other charges, acquisition-relatedcharges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, otherincome or charges, and certain significant tax items, if any, and, if applicable, the related tax effects.• Adjusted Earnings (Loss) Per Share – represents diluted earnings (loss) per share from continuing operations (the mostcomparable GAAP financial measure) before special items including restructuring and other charges, acquisition-relatedcharges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, otherincome or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is asignificant component in our incentive compensation plans.• Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash providedby continuing operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly ofsignificant cash outflows and inflows that we believe are useful to identify. We believe Free

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Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by managementto monitor and evaluate cash flows generated from our operations.Free Cash Flow is defined as net cash provided by continuing operating activities excluding voluntary pension contributions andthe cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from theGAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certainspecial items, including net payments related to pre-separation tax matters and cash paid (collected) pursuant to collateralrequirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Netcapital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment. These itemsare subtracted because they represent long-term commitments.In the calculation of Free Cash Flow, we subtract certain cash items that are ultimately within management’s and the Board ofDirectors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparableGAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for futurediscretionary expenditures, as our definition of Free Cash Flow does not consider certain non-discretionary expenditures, suchas debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, sharerepurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow. Forward-Looking StatementsThis release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation ReformAct of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty andchanges in circumstances, which may cause actual results, performance, financial condition or achievements to differ materiallyfrom anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearlyhistorical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressionsare generally intended to identify forward-looking statements. We have no intention and are under no obligation to update oralter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of newinformation, future events or otherwise, except to the extent required by law. The forward-looking statements in this releaseinclude statements addressing our future financial condition and operating results, and the impact on our operations resultingfrom the coronavirus disease 2019 (“COVID-19”). Examples of factors that could cause actual results to differ materially fromthose described in the forward-looking statements include, among others, the extent, severity and duration of COVID-19negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affectingdemand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreigncurrency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries inwhich we operate; developments in the credit markets; future goodwill impairment; compliance with current and futureenvironmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and otherlegislation, including the effects of Swiss tax reform. In addition, the extent to which COVID-19 will impact our business and ourfinancial results will depend on future developments, which are highly uncertain and cannot be predicted. Such developmentsmay include the geographic spread of the virus, the severity of the virus, the duration of the outbreak, the impact on oursuppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to theoutbreak in jurisdictions in which we operate, and the possible impact on the global economy and local economies in which weoperate. More detailed information about

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these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 27, 2019as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S.Securities and Exchange Commission.

# # # 

 

 

Contacts: Media Relations:Fernando VivancoTE Connectivity610-893-9756Fernando.Vivanco@te.com

Investor Relations:Sujal ShahTE Connectivity610-893-9790Sujal.Shah@te.com

 

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 TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)                       

  For the Quarters Ended   For the Six Months Ended  March 27,   March 29,   March 27,   March 29,  2020 2019 2020 2019

  (in millions, except per share data)Net sales $ 3,195   $ 3,412   $ 6,363   $ 6,759Cost of sales   2,166     2,294     4,304     4,527

Gross margin   1,029     1,118     2,059     2,232Selling, general, and administrative expenses   352     373     719     762Research, development, and engineering expenses   158     166     319     327Acquisition and integration costs   12     7     19     12Restructuring and other charges, net   22     42     46     117Impairment of goodwill   900     -     900     -

Operating income (loss)   (415)    530     56     1,014Interest income   5     4     11     9Interest expense   (11)    (15)    (23)    (42)Other income, net   11     1     16     -

Income (loss) from continuing operations before income taxes   (410)    520     60     981Income tax expense   (42)    (91)    (489)    (169)

Income (loss) from continuing operations   (452)    429     (429)    812Income (loss) from discontinued operations, net of income taxes   (4)    10     (1)    (97)

Net income (loss) $ (456)  $ 439   $ (430)  $ 715                       

Basic earnings (loss) per share:                      Income (loss) from continuing operations $ (1.35)  $ 1.27   $ (1.28)  $ 2.39Income (loss) from discontinued operations   (0.01)    0.03     -     (0.29)Net income (loss)   (1.37)    1.30     (1.29)    2.10                       Diluted earnings (loss) per share:                      

Income (loss) from continuing operations $ (1.35)  $ 1.26   $ (1.28)  $ 2.37Income (loss) from discontinued operations   (0.01)    0.03     -     (0.28)Net income (loss)   (1.37)    1.29     (1.29)    2.09                       Weighted-average number of shares outstanding:                      

Basic   334     338     334     340Diluted   334     340     334     342

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TE CONNECTIVITY LTD.CONSOLIDATED BALANCE SHEETS (UNAUDITED)

           

  March 27, September 27,  2020 2019  (in millions, except share data)Assets          Current assets:          

Cash and cash equivalents $ 796   $ 927Accounts receivable, net of allowance for doubtful accounts of $32 and $25, respectively   2,461     2,320Inventories   2,001     1,836Prepaid expenses and other current assets   457     471

Total current assets   5,715     5,554Property, plant, and equipment, net   3,558     3,574Goodwill   5,235     5,740Intangible assets, net   1,547     1,596Deferred income taxes   2,382     2,776Other assets   930     454

Total assets $ 19,367   $ 19,694          

Liabilities and equity          Current liabilities:         

Short-term debt $ 603   $ 570Accounts payable   1,390     1,357Accrued and other current liabilities   1,966     1,613

Total current liabilities   3,959     3,540Long-term debt   3,752     3,395Long-term pension and postretirement liabilities   1,359     1,367Deferred income taxes   126     156Income taxes   228     239Other liabilities   772     427

Total liabilities   10,196     9,124Commitments and contingencies         Equity:         

TE Connectivity Ltd. shareholders' equity:         Common shares, CHF 0.57 par value, 350,951,381 shares authorized and issued   154     154Accumulated earnings   11,122     12,256Treasury shares, at cost, 19,877,795 and 15,862,337 shares, respectively   (1,639)    (1,337)Accumulated other comprehensive loss   (571)    (503)

Total TE Connectivity Ltd. shareholders' equity   9,066     10,570Noncontrolling interests   105     -

Total equity   9,171     10,570Total liabilities and equity $ 19,367   $ 19,694

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TE CONNECTIVITY LTD.CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                       

  For the Quarters Ended   For the Six Months Ended  March 27,   March 29,   March 27,   March 29,  2020 2019 2020 2019  (in millions)

Cash flows from operating activities:                      Net income (loss) $ (456)  $ 439   $ (430)  $ 715

(Income) loss from discontinued operations, net of income taxes   4     (10)    1     97Income (loss) from continuing operations   (452)    429     (429)    812Adjustments to reconcile income (loss) from continuing operations to net cash provided by operatingactivities:                      

Impairment of goodwill   900     -     900     -Depreciation and amortization   180     173     354     341Deferred income taxes   (49)    (17)    345     (28)Non-cash lease cost   25     -     52     -Provision for losses on accounts receivable and inventories   (2)    5     18     28Share-based compensation expense   15     15     37     38Other   1     14     11     32

Changes in assets and liabilities, net of the effects of acquisitions and divestitures:                      Accounts receivable, net   (116)    (81)    (140)    (107)Inventories   25     49     (151)    (70)Prepaid expenses and other current assets   48     24     25     91Accounts payable   (45)    (35)    49     (44)Accrued and other current liabilities   5     (16)    (180)    (206)Income taxes   (9)    6     1     21Other   (45)    (11)    -     (25)

Net cash provided by continuing operating activities   481     555     892     883Net cash provided by (used in) discontinued operating activities   -     1     -     (30)Net cash provided by operating activities   481     556     892     853

Cash flows from investing activities:                      Capital expenditures   (133)    (191)    (309)    (401)Proceeds from sale of property, plant, and equipment   1     12     3     13Acquisition of businesses, net of cash acquired   (244)    8     (359)    8Proceeds from divestiture of discontinued operation, net of cash retained by sold operation   -     9     -     297Other   (2)    (3)    (2)    -

Net cash used in continuing investing activities   (378)    (165)    (667)    (83)Net cash used in discontinued investing activities   -     -     -     (2)Net cash used in investing activities   (378)    (165)    (667)    (85)

Cash flows from financing activities:                      Net increase (decrease) in commercial paper   (210)    27     (219)    90Proceeds from issuance of debt   593     -     593     350Repayment of debt   -     -     -     (441)Proceeds from exercise of share options   13     10     27     17Repurchase of common shares   (269)    (220)    (408)    (739)Payment of common share dividends to shareholders   (153)    (149)    (307)    (299)Transfers (to) from discontinued operations   -     1     -     (32)Other   (5)    (1)    (31)    (30)

Net cash used in continuing financing activities   (31)    (332)    (345)    (1,084)Net cash provided by (used in) discontinued financing activities   -     (1)    -     32Net cash used in financing activities   (31)    (333)    (345)    (1,052)

Effect of currency translation on cash   (18)    2     (11)    1Net increase (decrease) in cash, cash equivalents, and restricted cash   54     60     (131)    (283)Cash, cash equivalents, and restricted cash at beginning of period   742     505     927     848Cash, cash equivalents, and restricted cash at end of period $ 796   $ 565   $ 796   $ 565                       Supplemental cash flow information:                      Interest paid on debt, net $ 20   $ 33   $ 24   $ 52Income taxes paid, net of refunds   101     102     144     177

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TE CONNECTIVITY LTD.

RECONCILIATION OF FREE CASH FLOW (UNAUDITED)                       

  For the Quarters Ended   For the Six Months Ended  March 27,   March 29,   March 27,   March 29,  2020 2019 2020 2019  (in millions)

Net cash provided by continuing operating activities $ 481   $ 555   $ 892   $ 883Excluding:                      

Cash collected pursuant to collateral requirements related to cross-currency swap contracts   (38)    (32)    (32)    (82)Capital expenditures, net   (132)    (179)    (306)    (388)Free cash flow $ 311   $ 344   $ 554   $ 413                       

Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures.

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TE CONNECTIVITY LTD.CONSOLIDATED SEGMENT DATA (UNAUDITED)

                                               

  For the Quarters Ended     For the Six Months Ended    March 27,     March 29,     March 27,     March 29,    2020   2019   2020   2019    ($ in millions)    Net Sales       Net Sales       Net Sales       Net Sales    Transportation Solutions $ 1,857         $ 1,971         $ 3,725         $ 3,957      Industrial Solutions   962           1,007           1,889           1,935      Communications Solutions   376           434           749           867      

Total $ 3,195         $ 3,412         $ 6,363         $ 6,759                                                                                                  Operating   Operating   Operating   Operating   Operating   Operating   Operating   Operating  Income (Loss)   Margin   Income   Margin   Income (Loss)   Margin   Income   MarginTransportation Solutions $ (606)  (32.6) %  $ 316   16.0 %   $ (290)  (7.8) %  $ 648   16.4 %Industrial Solutions   142   14.8      137   13.6       257   13.6      237   12.2  Communications Solutions   49   13.0      77   17.7       89   11.9      129   14.9  

Total $ (415)  (13.0) %  $ 530   15.5 %   $ 56   0.9 %  $ 1,014   15.0 %                                                                                                Adjusted   Adjusted   Adjusted   Adjusted   Adjusted   Adjusted   Adjusted   Adjusted  Operating   Operating   Operating   Operating   Operating   Operating   Operating   Operating  Income   Margin   Income   Margin   Income   Margin   Income   Margin Transportation Solutions $ 322   17.3 %   $ 344   17.5 %   $ 647   17.4 %   $ 700   17.7 %Industrial Solutions   145   15.1       159   15.8       277   14.7       297   15.3  Communications Solutions   52   13.8       78   18.0       97   13.0       149   17.2  

Total $ 519   16.2 %   $ 581   17.0 %   $ 1,021   16.0 %   $ 1,146   17.0 %                                               

Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures.  

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TE CONNECTIVITY LTD.RECONCILIATION OF NET SALES GROWTH (DECLINE) (UNAUDITED)

                                   

  Change in Net Sales for the Quarter Ended March 27, 2020  versus Net Sales for the Quarter Ended March 29, 2019  Net Sales     Organic Net Sales            Growth (Decline)   Growth (Decline)   Translation Acquisitions  ($ in millions)

Transportation Solutions :                              Automotive $ (60)  (4.2) %   $ (29)  (2.1) %   $ (31)  $ -Commercial transportation   (30)  (9.3)       (36)  (11.1)       (8)    14Sensors   (24)  (10.8)       (33)  (14.9)       (3)    12

Total   (114)  (5.8)       (98)  (5.0)       (42)    26Industrial Solutions :                                 

Aerospace, defense, oil, and gas   (13)  (3.9)       (10)  (2.9)       (3)    -Industrial equipment   (46)  (14.1)       (40)  (12.5)       (6)    -Medical   10   5.7       10   5.7       -     -Energy   4   2.3       10   5.6       (6)    -

Total   (45)  (4.5)       (30)  (3.0)       (15)    -Communications Solutions :                                 

Data and devices   (33)  (13.1)       (33)  (13.1)       -     -Appliances   (25)  (13.7)       (22)  (11.9)       (3)    -

Total   (58)  (13.4)       (55)  (12.6)       (3)    -Total $ (217)  (6.4) %   $ (183)  (5.4) %   $ (60)  $ 26

                                   

  Change in Net Sales for the Six Months Ended March 27, 2020  versus Net Sales for the Six Months Ended March 29, 2019  Net Sales     Organic Net Sales            Growth (Decline)     Growth (Decline)     Translation   Acquisitions  ($ in millions)Transportation Solutions :                              

Automotive $ (124)  (4.3) %   $ (72)  (2.5) %   $ (52)  $ -Commercial transportation   (69)  (11.1)       (81)  (13.2)       (15)    27Sensors   (39)  (8.8)       (58)  (13.1)       (5)    24

Total   (232)  (5.9)       (211)  (5.3)       (72)    51Industrial Solutions :                                 

Aerospace, defense, oil, and gas   11   1.8       17   2.8       (6)    -Industrial equipment   (98)  (15.3)       (87)  (13.7)       (11)    -Medical   21   6.1       22   6.3       (1)    -Energy   20   6.0       29   8.7       (9)    -

Total   (46)  (2.4)       (19)  (1.0)       (27)    -Communications Solutions :                                 

Data and devices   (71)  (14.0)       (71)  (14.0)       -     -Appliances   (47)  (13.1)       (43)  (11.7)       (4)    -

Total   (118)  (13.6)       (114)  (13.1)       (4)    -Total $ (396)  (5.9) %   $ (344)  (5.1) %   $ (103)  $ 51                                   

Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures. Represents the change in net sales resulting from changes in foreign currency exchange rates. Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

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TE CONNECTIVITY LTD.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended March 27, 2020(UNAUDITED)

                                       

          Adjustments                Acquisition-   Restructuring                      Related   and Other   Impairment   Tax   Adjusted    U.S. GAAP   Charges Charges, Net of Goodwill Items (Non-GAAP)    ($ in millions, except per share data)  Operating income (loss):                                      Transportation Solutions $ (606)    $ 10   $ 18   $ 900   $ -   $ 322  Industrial Solutions   142       2     1     -     -     145  Communications Solutions   49       -     3     -     -     52  

Total $ (415)    $ 12   $ 22   $ 900   $ -   $ 519                                       

Operating margin   (13.0)%                             16.2 %                                       Other income, net $ 11     $ -   $ -   $ -   $ (8)  $ 3                                         Income tax expense $ (42)    $ (2)  $ (4)  $ (4)  $ (31)  $ (83)                                        Effective tax rate   (10.2)%                             16.1 %                                       Income (loss) from continuing operations $ (452)    $ 10   $ 18   $ 896   $ (39)  $ 433                                         Diluted earnings (loss) per share fromcontinuing operations $ (1.35)    $ 0.03   $ 0.05   $ 2.67   $ (0.12)  $ 1.29                                        

The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each suchjurisdiction.  

Includes an income tax benefit related to pre-separation tax matters and the termination of the tax sharing agreement with Tyco International and Covidien, as well as therelated impact to net other income.  

U.S. GAAP diluted shares excludes one million of nonvested share awards and options outstanding as the inclusion of these securities would have been antidilutivebecause of our loss during the period. Such amounts are included in adjusted (non-GAAP) diluted shares.  

See description of non-GAAP financial measures.  

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TE CONNECTIVITY LTD.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended March 29, 2019(UNAUDITED)

                                 

          Adjustments                Acquisition-   Restructuring                  Related   and Other   Tax   Adjusted    U.S. GAAP   Charges Charges, Net Items (Non-GAAP)    ($ in millions, except per share data)  Operating income:                                Transportation Solutions $ 316     $ 4   $ 24   $ -   $ 344  Industrial Solutions   137       5     17     -     159  Communications Solutions   77       -     1     -     78  

Total $ 530     $ 9   $ 42   $ -   $ 581                                   

Operating margin   15.5 %                       17.0 %                                 Other income, net $ 1     $ -   $ -   $ -   $ 1                                   Income tax expense $ (91)    $ (2)  $ (10)  $ 15   $ (88)                                  Effective tax rate   17.5 %                       15.4 %                                 Income from continuing operations $ 429     $ 7   $ 32   $ 15   $ 483                                   Diluted earnings per share from continuingoperations $ 1.26     $ 0.02   $ 0.09   $ 0.04   $ 1.42                                   

The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each suchjurisdiction.  

Includes income tax expense associated with the tax impacts of certain legal entity restructurings and intercompany transactions.   See description of non-GAAP financial measures.  

 

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TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURESFor the Six Months Ended March 27, 2020

(UNAUDITED)                                       

          Adjustments                Acquisition-   Restructuring                      Related   and Other   Impairment   Tax   Adjusted    U.S. GAAP   Charges Charges, Net of Goodwill Items (Non-GAAP)    ($ in millions, except per share data)  Operating income (loss):                                      Transportation Solutions $ (290)    $ 15   $ 22   $ 900   $ -   $ 647  Industrial Solutions   257       4     16     -     -     277  Communications Solutions   89       -     8     -     -     97  

Total $ 56     $ 19   $ 46   $ 900   $ -   $ 1,021                                        

Operating margin   0.9 %                             16.0 %                                       Other income, net $ 16     $ -   $ -   $ -   $ (8)  $ 8                                         Income tax expense $ (489)    $ (3)  $ (4)  $ (4)  $ 324   $ (176)                                        Effective tax rate   815.0 %                             17.3 %                                       Income (loss) from continuing operations $ (429)    $ 16   $ 42   $ 896   $ 316   $ 841                                         Diluted earnings (loss) per share fromcontinuing operations $ (1.28)    $ 0.05   $ 0.13   $ 2.67   $ 0.94   $ 2.50                                         

The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each suchjurisdiction.  

Includes income tax expense related to the tax impacts of certain measures of Swiss tax reform. Also includes an income tax benefit related to pre-separation tax mattersand the termination of the tax sharing agreement with Tyco International and Covidien, as well as the related impact to net other income.  

U.S. GAAP diluted shares excludes two million of nonvested share awards and options outstanding as the inclusion of these securities would have been antidilutivebecause of our loss during the period. Such amounts are included in adjusted (non-GAAP) diluted shares.  

See description of non-GAAP financial measures.   

 

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TE CONNECTIVITY LTD.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Six Months Ended March 29, 2019(UNAUDITED)

                                 

            Adjustments                Acquisition-   Restructuring                  Related   and Other   Tax   Adjusted    U.S. GAAP   Charges Charges, Net Items (Non-GAAP)    ($ in millions, except per share data)  Operating income:                                Transportation Solutions $ 648     $ 7   $ 45   $ -   $ 700  Industrial Solutions   237       8     52     -     297  Communications Solutions   129       -     20     -     149  

Total $ 1,014     $ 15   $ 117   $ -   $ 1,146                                   

Operating margin   15.0 %                       17.0 %                                 Income tax expense $ (169)    $ (3)  $ (29)  $ 15   $ (186)                                  Effective tax rate   17.2 %                       16.7 %                                 Income from continuing operations $ 812     $ 12   $ 88   $ 15   $ 927                                   Diluted earnings per share from continuingoperations $ 2.37     $ 0.04   $ 0.26   $ 0.04   $ 2.71                                   

The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each suchjurisdiction.  

Includes income tax expense associated with the tax impacts of certain legal entity restructurings and intercompany transactions.   See description of non-GAAP financial measures.  

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TE CONNECTIVITY LTD.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended June 28, 2019(UNAUDITED)

                                 

          Adjustments                Acquisition-   Restructuring                  Related   and Other   Tax   Adjusted    U.S. GAAP   Charges Charges, Net Items (Non-GAAP)    ($ in millions, except per share data)  Operating income:                                Transportation Solutions $ 308     $ 6   $ 53   $ -   $ 367  Industrial Solutions   156       3     8     -     167  Communications Solutions   56       -     6     -     62  

Total $ 520     $ 9   $ 67   $ -   $ 596                                   

Operating margin   15.3 %                       17.6 %                                 Other income, net $ 2     $ -   $ -   $ -   $ 2                                   Income tax (expense) benefit $ 245     $ (1)  $ (17)  $ (307)  $ (80)                                  Effective tax rate   (47.8)%                       13.6 %                                 Income from continuing operations $ 758     $ 8   $ 50   $ (307)  $ 509                                   Diluted earnings per share from continuingoperations $ 2.24     $ 0.02   $ 0.15   $ (0.91)  $ 1.50                                   

The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each suchjurisdiction.  

Includes a $214 million income tax benefit related to the tax impacts of certain measures of Swiss tax reform and a $93 million income tax benefit related to the effectivesettlement of a tax audit in a non-U.S. jurisdiction.  

See description of non-GAAP financial measures.   

 

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TE CONNECTIVITY LTD.RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Year Ended September 27, 2019(UNAUDITED)

                                 

          Adjustments                Acquisition-                      Related Charges   Restructuring                  and Other   and Other   Tax   Adjusted    U.S. GAAP   Items Charges, Net Items (Non-GAAP)    ($ in millions, except per share data)  Operating income:                                Transportation Solutions $ 1,226     $ 31   $ 144   $ -   $ 1,401  Industrial Solutions   543       15     63     -     621  Communications Solutions   209       1     48     -     258  

Total $ 1,978     $ 47   $ 255   $ -   $ 2,280                                   

Operating margin   14.7 %                       17.0 %                                 Other income, net $ 2     $ -   $ -   $ -   $ 2                                   Income tax (expense) benefit $ 15     $ (9)  $ (61)  $ (291)  $ (346)                                  Effective tax rate   (0.8)%                       15.5 %                                 Income from continuing operations $ 1,946     $ 38   $ 194   $ (291)  $ 1,887                                   Diluted earnings per share from continuingoperations $ 5.72     $ 0.11   $ 0.57   $ (0.86)  $ 5.55                                   

The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each suchjurisdiction.  

Includes acquisition-related charges of $30 million and a write-off of spare parts of $17 million.   Includes a $216 million income tax benefit related to the tax impacts of certain measures of Swiss tax reform, a $90 million income tax benefit related to the effective

settlement of a tax audit in a non-U.S. jurisdiction, and $15 million of income tax expense associated with the tax impacts of certain legal entity restructurings andintercompany transactions.

 

See description of non-GAAP financial measures.   

    

 

 

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Exhibit 99.2

Q2 2020Earnings April 28,2020

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Forward-LookingStatements andNon-GAAPFinancialMeasures 2Forward-LookingStatements Thispresentationcontains certain"forward-lookingstatements"within themeaning of theU.S. PrivateSecuritiesLitigation ReformAct of 1995.These statementsare based onmanagement'scurrentexpectations andare subject torisks, uncertaintyand changes incircumstances,which may causeactual results,performance,financial conditionor achievementsto differ materiallyfrom anticipatedresults,performance,financial conditionor achievements.All statementscontained hereinthat are notclearly historicalin nature areforward-lookingand the words"anticipate,""believe,""expect,""estimate," "plan,"and similarexpressions aregenerally intendedto identifyforward-lookingstatements. Wehave no intentionand are under noobligation toupdate or alter(and expresslydisclaim any suchintention orobligation to doso) our forward-lookingstatementswhether as aresult of newinformation,future events orotherwise, exceptto the extentrequired by law.The forward-lookingstatements in thispresentationincludestatementsaddressing ourfuture financialcondition andoperating results,and the impact onour operationsresulting from thecoronavirusdisease 2019(“COVID-19”).Examples offactors that couldcause actualresults to differmaterially fromthose described inthe forward-lookingstatementsinclude, amongothers, the extent,severity andduration ofCOVID- 19negativelyaffecting ourbusinessoperations;business,economic,competitive andregulatory risks,such asconditionsaffecting demandfor products in theautomotive andother industrieswe serve;competition andpricing pressure;fluctuations inforeign currencyexchange ratesand commodityprices; naturaldisasters andpolitical,economic andmilitary instabilityin countries inwhich we operate;developments inthe creditmarkets; futuregoodwillimpairment;compliance withcurrent and futureenvironmentaland other lawsand regulations;and the possibleeffects on us ofchanges in taxlaws, tax treatiesand otherlegislation,including theeffects of Swisstax reform. Inaddition, theextent to whichCOVID-19 willimpact ourbusiness and ourfinancial resultswill depend onfuturedevelopments,which are highlyuncertain andcannot bepredicted. Suchdevelopmentsmay include thegeographicspread of thevirus, the severityof the virus, theduration of theoutbreak, theimpact on oursuppliers’ andcustomers’ supplychains, theactions that maybe taken byvariousgovernmentalauthorities inresponse to theoutbreak injurisdictions inwhich we operate,and the possibleimpact on theglobal economyand localeconomies inwhich we operate.More detailedinformation aboutthese and otherfactors is set forthin TE ConnectivityLtd.'s AnnualReport on Form10-K for the fiscalyear ended Sept.27, 2019 as wellas in ourQuarterly Reportson Form 10-Q,Current Reportson Form 8-K andother reports filedby us with theU.S. Securitiesand ExchangeCommission.Non-GAAPFinancialMeasures Wherewe have usednon-GAAPfinancialmeasures,reconciliations tothe mostcomparableGAAP measureare provided,along with adisclosure on theusefulness of thenon-GAAPfinancialmeasure, in thispresentation.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. •Delivered Q2sales that werein-line withguidance andAdjusted EPS thatwas above thehigh end of ourguidance range •Adjustedoperating marginswere above 16%and reflect thediversity of ourportfolio and theearly execution ofcost reductionactions •Demonstratedresiliency inmanufacturingand operationsdue to our globalmanufacturingstrategy and highlevels ofautomation in ourfactories • Ourbalance sheet isstrong, with astrong free cashflow generationmodel • Greaterthan $2B ofliquidity available;expect FY20 FCFto exceed $1B •Low leverage withDebt to EBITDAratio of 1.5X inQ2* • Expectgreater COVID-19related demandimpacts in thesecond half •Driven primarilyby theTransportationand CommercialAerospacemarkets • ExpectQ3 Sales to bedown ~25%sequentially fromQ2 • Expectgrowth andmargin expansionwhen demandreturns • Continueto execute onfootprintconsolidationefforts, withacceleration ofcost actions;expect higherearnings leveragewhen marketsreturn to growth •Well positioned tobenefit fromrecovery in Chinaand broaderrecovery in theAuto market •Continue to investin content growthand benefit fromsecular trendsacross ourbusiness KeyMessages 3Adjusted EPS,AdjustedOperating Marginand Free CashFlow are non-GAAP financialmeasures; seeAppendix fordescriptions andreconciliations. *Represents theRatio ofConsolidatedTotal Debt toConsolidatedEBITDA asdefined in ourfive-yearunsecured seniorcredit agreement.Please refer tothe Appendix foradditionalinformation.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Salesat midpoint ofguidance andAdjusted EPSabove the highend of guidance •Sales of $3.2B,down 6% on areported basisand down 5%organically Y/Y;FX headwind of$60M •Transportationdown 5%organically, withweakness in allbusinesses •Industrial down3% organically,with declines inComm Air andIndustrialEquipment •Communicationsdown 13%organically, withdeclines in D&Dand Appliances •Orders grewsequentially, witha book to bill of1.05 • AdjustedOperatingMargins of16.2%; AdjustedEPS of $1.29,exceeding thehigh end ofguidance • YTDFree Cash Flowup 34% vs prioryear; Q2 FCF of~ $310M with~$430M returnedto shareholdersDue to limitedvisibility of futuredemand,withdrawing fullyear guidance •Recent ordershave slowed as aresult of COVID-19 impacts •Expect Q3 Salesto be down ~25%sequentially fromQ2 • AdjustedOperating Incomefall through of~45% onsequentialrevenue decline •Expect secondhalf weakness tobe driven by theTransportationand CommAirmarkets • Strongbalance sheetwith ampleliquidity; expectFCF to exceed$1B in FY20 Q2Highlights 4Organic Net SalesGrowth (Decline),AdjustedOperating Margin,Adjusted EPS,and Free CashFlow are non-GAAP financialmeasures; seeAppendix fordescriptions andreconciliations.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reported FY20FY20 GrowthMarch & AprilOrder Trends Q1Q2 Q1 to Q2Transportation1,867 1,849 (1)%Erosion in Autoand CommercialTransportationIndustrial 9651,051 9% Erosionin CommAir;Stability inDefense, Medical& EnergyCommunications409 467 14%Stable demand inD&D driven byCloud applicationsTotal TE 3,2413,367 Q2 ordersstrength reflectscustomerssecuringcomponent supplyin an uncertainenvironment Bookto Bill 1.02 1.05Segment OrdersSummary $ inMillions Ordertrends weakenedin late March andApril inTransportationand CommAir 5

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. $3,195Q2 2020 Q32020 Q2 to Q3Sequential SalesDrivers 6 $ inMillions • Autoproductionexpected todecline ~33%from ~18Mvehicles producedin Q2 to ~12M inQ3 • Expectreduction inCommAir marketof ~33% as aresult of lowerbuilds • Autosupply chainimpact of ~$200Min Q2 impactingQ3 • Supply chaindisruptionimpacting Q3 by~$100MSequential Salesdown ~25% Autoproduction ▼~33% CommAirmarket ▼ ~33%Auto supply chainimpact ▼~$200M Supplychain disruption▼ ~$100M Q3Sales expected tobe down ~25%sequentially$3.2B

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Y/YGrowth RatesReported OrganicAutomotive$1,365 (4)% (2)%CommercialTransportation294 (9)% (11)%Sensors 198(11)% (15)%TransportationSolutions $1,857(6)% (5)% $ inMillions Q2 SalesQ2 BusinessPerformanceReported Down6% Organic Down5% Q2 AdjustedOperating MarginTransportationSolutions 7Adjusted EBITDAMargin 23.0%23.6% •Automotive salesdown 2%organically onglobal autoproductiondeclines of ~20%;outperformancedriven bycustomer supplychain buildsahead ofproduction andcontent growth •CommercialTransportationorganic declinesdriven byweakness in allregions • Sensorsdecline driven byweakness inindustrial marketswith ongoingweakness incommercialtransportationOrganic Net SalesGrowth (Decline),AdjustedOperating Marginand AdjustedEBITDA Marginare non-GAAPfinancialmeasures: seeAppendix fordescriptions andreconciliations.AdjustedOperatingMargins ~flat onlower volumes$1,971 $1,857Q2 2019 Q22020 17.5%17.3% Q2 2019Q2 2020

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Y/YGrowth RatesReported OrganicAerospace,Defense andMarine $318 (4)%(3)% IndustrialEquipment 280(14)% (13)%Medical 186 6%6% Energy 1782% 6% IndustrialSolutions $962(5)% (3)% $ inMillions Q2 Sales• AD&M declinesdriven byweakness inCommercialAerospacemarket, partiallyoffset by growthin Defense •IndustrialEquipmentdeclines driven bymarket weaknessand continueddistributioninventorycorrections •Medical growthdriven byinterventionalmedicalapplications •Energy growthdriven by growthin Europe and NAinvestments forupgradedinfrastructure Q2BusinessPerformanceReported Down5% Organic Down3% Q2 AdjustedOperating MarginIndustrialSolutions 8$1,007 $962 Q22019 Q2 202015.8% 15.1% Q22019 Q2 2020AdjustedOperating Marginof ~15%, asexpected AdjustedEBITDA Margin20.0% 19.9%Organic Net SalesGrowth (Decline),AdjustedOperating Marginand AdjustedEBITDA Marginare non-GAAPfinancialmeasures: seeAppendix fordescriptions andreconciliations.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. 18.0%13.8% Q2 2019Q2 2020 $434$376 Q2 2019Q2 2020 Y/YGrowth RatesReported OrganicData & Devices$218 (13)%(13)% Appliances158 (14)% (12)%CommunicationsSolutions $376(13)% (13)% $ inMillions Q2 Sales•CommunicationsSales and Marginperformance asexpected • Data &Devices declinesdriven byweakness in allregions anddistributiondestocking;continue to seegrowth in cloudrelated demand •Appliancesdeclines driven byweakness in allregions andinventorydestocking trendsQ2 BusinessPerformanceReported Down13% OrganicDown 13% Q2AdjustedOperating MarginAdjustedOperatingMargins in themid- teens, asexpected 9CommunicationsSolutionsAdjusted EBITDAMargin 22.6%18.4% OrganicNet Sales Growth(Decline),AdjustedOperating Marginand AdjustedEBITDA Marginare non-GAAPfinancialmeasures: seeAppendix fordescriptions andreconciliations.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. ($ inMillions, exceptper shareamounts) Q2FY19 Q2 FY20Net Sales $ 3,412$ 3,195 OperatingIncome (Loss) $530 $ (415)Operating Margin15.5% (13.0%)AcquisitionRelated Charges9 12Restructuring &Other Charges,net 42 22Impairment ofGoodwill - 900AdjustedOperating Income$ 581 $ 519AdjustedOperating Margin17.0% 16.2%Earnings (Loss)Per Share* $ 1.26$ (1.35)**AcquisitionRelated Charges0.02 0.03Restructuring &Other Charges,net 0.09 0.05Impairment ofGoodwill - 2.67Tax Items 0.04(0.12) AdjustedEPS $ 1.42 $1.29 Q2 FinancialSummary 10*RepresentsDiluted Earnings(Loss) Per Sharefrom ContinuingOperations.**U.S. GAAPdiluted sharesexcludes onemillion ofnonvested shareawards andoptionsoutstanding asthe inclusion ofthese securitieswould have beenantidilutivebecause of ourloss during theperiod. Suchamounts areincluded inadjusted (non-GAAP) dilutedshares. AdjustedOperatingIncome, AdjustedOperating Marginand Adjusted EPSare non-GAAPfinancialmeasures; seeAppendix fordescriptions andreconciliations.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Q2FinancialPerformance 11AdjustedOperating MarginFree Cash Flow$413 $554 YTD2019 YTD 2020$3,412 $3,195Q2 2019 Q22020 SalesAdjusted EPS$1.42 $1.29 Q22019 Q2 2020Adjusted EBITDAMargin 22.0%21.9% 17.0%16.2% Q2 2019Q2 2020 Strongposition enteringa weakenvironmentAdjustedOperating Margin,Adjusted EPS,Adjusted EBITDAMargin and FreeCash Flow arenon-GAAPfinancialmeasures: seeAppendix fordescriptions andreconciliations.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. $64$69 $243 $223$344 $311 $443$515 $670 $6882018 2019 2020Q1 Q2 Q3 Q4$350 $635 $500$605 $350 $6052020 2021 20222023 2024 2025As of 3/27/202012 Free CashFlow & Liquidity •Remaincommitted toquarterly dividend• Will continue toevaluate sharerepurchases •Capitalexpendituresreduced by over$100M • $2.3Bliquidity available •~$800M in cash •$1.5B undrawnrevolver •Debt/EBITDAcurrently at1.5x*** LiquidityCash & DebtMaturity ProfilePriorities Cash &Debt MaturityProfile** FreeCash Flow*Liquidity CashTerm Debt $ inMillions $796YTD FCF up 34%vs prior yearFY20 FCFexpected to be>$1B Strongliquidity position*Free Cash Flowis a non-GAAPfinancialmeasure; seeAppendix fordescription andreconciliation**Excludes debtmaturing afterfiscal year 2025***Represents theRatio ofConsolidatedTotal Debt toConsolidatedEBITDA asdefined in ourfive-yearunsecured seniorcredit agreement.Please refer tothe Appendix foradditionalinformation

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Strongportfolio positionand early costactions enablingTE to navigate achallengingdemandenvironmentExpectationsGoing Forward3Q20ExpectationsMarketAssumptions 13Actions We AreTaking • ExpectQ3 sales todecline ~25%sequentially fromQ2, withweakness drivenby Transportationand CommAirmarkets andsupply chainadjustments •~45% fall throughon sequentialrevenue decline toadjustedoperating income• Global autoproductionexpected todecline to ~12Mvehicles in Q3 •Expect reducedproduction inCommercialAerospace buildsin 2H vs 1H •Continue tobenefit fromfavorable demandtrends inDefense, Medicaland Energy andData & Devicesmarkets • Movedearly to executecost reductionand factoryfootprintconsolidationplans •Demonstratingresilience inglobalmanufacturing;Flexing workforcebased ontemporary plantclosures •Reducing CapExby over $100Mversus prior viewto ~$575M inFY20 • Willcontinue toevaluate coststructure asdemandenvironmentevolves AdjustedOperating Incomeis a non-GAAPfinancialmeasure; seeAppendix fordescription

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.AdditionalInformation 14

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Y/Y Q22020 15 Sales (inmillions) AdjustedEPS Q2 2019Results $3,412$1.42 OperationalPerformance(157) (0.10) FXImpact (60) (0.02)Tax Rate Impact -(0.01) Q2 2020Results $3,195$1.29 AdjustedEPS is a non-GAAP financialmeasure; SeeAppendix fordescription andreconciliation.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. ($ inMillions) Q2 2019Q2 2020Beginning CashBalance $505$742 Free CashFlow 344 311Dividends (149)(153) Sharerepurchases(220) (269) Netincrease in debt27 383Acquisition ofbusinesses, net ofcash acquired 8(244) Other 50 26Ending CashBalance $565$796 Total Debt$3,982 $4,355A/R $2,463$2,461 DaysSalesOutstanding* 6569 Inventory$1,970 $2,001Days on Hand* 7580 AccountsPayable $1,485$1,390 DaysOutstanding* 5858 Free CashFlow and WorkingCapital Liquidity,Cash & Debt Q2Balance Sheet &Cash FlowSummary 16 ($ inMillions) Q2 2019Q2 2020 Cashfrom ContinuingOperations $555$481 Capitalexpenditures, netCash (collected)pursuant tocollateralrequirementsrelated to cross-currency swapcontracts (179)(32) (132) (38)Free Cash Flow$344 $311 FreeCash Flow is anon-GAAPfinancialmeasure, seeAppendix fordescription andreconciliation *Adjusted toexclude theimpact ofacquisitions

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Appendix 17

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. 18Non-GAAPFinancialMeasures Wepresent non-GAAPperformance andliquidity measuresas we believe it isappropriate forinvestors toconsider adjustedfinancialmeasures inaddition to resultsin accordancewith accountingprinciplesgenerallyaccepted in theU.S. (“GAAP”).These non-GAAPfinancialmeasures providesupplementalinformation andshould not beconsideredreplacements forresults inaccordance withGAAP.Managementuses non-GAAPfinancialmeasuresinternally forplanning andforecastingpurposes and inits decision-making processesrelated to theoperations of ourcompany. Webelieve thesemeasures providemeaningfulinformation to usand investorsbecause theyenhance theunderstanding ofour operatingperformance,ability to generatecash, and thetrends of ourbusiness.Additionally, webelieve thatinvestors benefitfrom havingaccess to thesame financialmeasures thatmanagementuses in evaluatingour operations.The primarylimitation of thesemeasures is thatthey exclude thefinancial impact ofitems that wouldotherwise eitherincrease ordecrease ourreported results.This limitation isbest addressed byusing these non-GAAP financialmeasures incombination withthe most directlycomparableGAAP financialmeasures in orderto betterunderstand theamounts,character, andimpact of anyincrease ordecrease inreported amounts.These non-GAAPfinancialmeasures maynot becomparable tosimilarly-titledmeasuresreported by othercompanies. Thefollowing providesadditionalinformationregarding ournon-GAAPfinancialmeasures: •Organic Net SalesGrowth (Decline)– represents netsales growth(decline) (themost comparableGAAP financialmeasure)excluding theimpact of foreigncurrencyexchange rates,and acquisitionsand divestituresthat occurred inthe precedingtwelve months, ifany. Organic NetSales Growth(Decline) is auseful measure ofour performancebecause itexcludes itemsthat are notcompletely undermanagement’scontrol, such asthe impact ofchanges inforeign currencyexchange rates,and items that donot reflect theunderlying growthof the company,such asacquisition anddivestiture activity.This measure is asignificantcomponent in ourincentivecompensationplans. • AdjustedOperating Income(Loss) andAdjustedOperating Margin– representoperating income(loss) andoperating margin,respectively, (themost comparableGAAP financialmeasures) beforespecial itemsincludingrestructuring andother charges,acquisition-relatedcharges,impairment ofgoodwill, andother income orcharges, if any.We utilize theseadjustedmeasures incombination withoperating income(loss) andoperating marginto assesssegment leveloperatingperformance andto provide insightto management inevaluatingsegmentoperating planexecution andmarketconditions.AdjustedOperating Income(Loss) is asignificantcomponent in ourincentivecompensationplans. • AdjustedOther Income(Expense), Net –represents netother income(expense) (themost comparableGAAP financialmeasure) beforespecial itemsincluding taxsharing incomerelated toadjustments toprior period taxreturns and otheritems, if any. •Adjusted IncomeTax (Expense)Benefit andAdjusted EffectiveTax Rate –represent incometax (expense)benefit andeffective tax rate,respectively, (themost comparableGAAP financialmeasures) afteradjusting for thetax effect ofspecial itemsincludingrestructuring andother charges,acquisition-relatedcharges,impairment ofgoodwill, otherincome orcharges, andcertain significanttax items, if any. •Adjusted Income(Loss) fromContinuingOperations –representsincome (loss)from continuingoperations (themost comparableGAAP financialmeasure) beforespecial itemsincludingrestructuring andother charges,acquisition-relatedcharges,impairment ofgoodwill, taxsharing incomerelated toadjustments toprior period taxreturns and othertax items, otherincome orcharges, andcertain significanttax items, if any,and, if applicable,the related taxeffects. • AdjustedEarnings (Loss)Per Share –represents dilutedearnings (loss)per share fromcontinuingoperations (themost comparableGAAP financialmeasure) beforespecial itemsincludingrestructuring andother charges,acquisition-relatedcharges,impairment ofgoodwill, taxsharing incomerelated toadjustments toprior period taxreturns and othertax items, otherincome orcharges, andcertain significanttax items, if any,and, if applicable,the related taxeffects. Thismeasure is asignificantcomponent in ourincentivecompensationplans.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. 19 •Adjusted EBITDAand AdjustedEBITDA Margin -represent netincome (loss) andnet income (loss)as a percentageof net sales,respectively, (themost comparableGAAP financialmeasures) beforeinterest expense,interest income,income taxes,depreciation, andamortization, asadjusted for netother income,income fromdiscontinuedoperations, andspecial itemsincludingrestructuring andother charges,acquisition-relatedcharges,impairment ofgoodwill, andother income orcharges, if any. •Free Cash Flow(FCF) – is auseful measure ofour ability togenerate cash.The differencebetween net cashprovided bycontinuingoperatingactivities (themost comparableGAAP financialmeasure) andFree Cash Flowconsists mainly ofsignificant cashoutflows andinflows that webelieve are usefulto identify. Webelieve Free CashFlow providesuseful informationto investors as itprovides insightinto the primarycash flow metricused bymanagement tomonitor andevaluate cashflows generatedfrom ouroperations. FreeCash Flow isdefined as netcash provided bycontinuingoperatingactivitiesexcludingvoluntary pensioncontributions andthe cash impactof special items, ifany, minus netcapitalexpenditures.Voluntary pensioncontributions areexcluded from theGAAP financialmeasure becausethis activity isdriven byeconomicfinancingdecisions ratherthan operatingactivity. Certainspecial items,including netpayments relatedto pre-separationtax matters andcash paid(collected)pursuant tocollateralrequirementsrelated to cross-currency swapcontracts, arealso excluded bymanagement inevaluating FreeCash Flow. Netcapitalexpendituresconsist of capitalexpenditures lessproceeds from thesale of property,plant, andequipment. Theseitems aresubtractedbecause theyrepresent long-termcommitments. Inthe calculation ofFree Cash Flow,we subtractcertain cash itemsthat are ultimatelywithinmanagement’sand the Board ofDirectors’discretion to directand may implythat there is lessor more cashavailable for ourprograms thanthe mostcomparableGAAP financialmeasureindicates. Itshould not beinferred that theentire Free CashFlow amount isavailable forfuturediscretionaryexpenditures, asour definition ofFree Cash Flowdoes not considercertain non-discretionaryexpenditures,such as debtpayments. Inaddition, we mayhave otherdiscretionaryexpenditures,such asdiscretionarydividends, sharerepurchases, andbusinessacquisitions, thatare notconsidered in thecalculation ofFree Cash Flow. •Adjusted Returnon InvestedCapital (ROIC) –representsadjusted netoperating profitafter tax dividedby averageinvested capital.We use AdjustedReturn onInvested Capitalas an indicator ofour capitalefficiency.Adjusted Returnon InvestedCapital is not ameasure definedby GAAP. It iscalculated by us,in part, using non-GAAP financialmeasures. Weare providing ourcalculation ofAdjusted Returnon InvestedCapital as thismeasure may notbe defined andcalculated byother companiesin the samemanner. • Ratio ofConsolidatedTotal Debt toConsolidatedEBITDA is acovenant used inour Amended andRestated Five-Year SeniorCredit Agreementdated as ofNovember 14,2018 and filed asExhibit 10.1 to ourCurrent Report onForm 8-K filedwith the SEC onNovember 14,2018.ConsolidatedTotal Debt andConsolidatedEBITDA areadjusted financialmeasures asdefined in theCredit Agreement.Non-GAAPFinancialMeasures (cont.)

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. 20SegmentSummaryTransportationSolutions $ 1,857$ 1,971 $ 3,725 $3,957 IndustrialSolutions 9621,007 1,8891,935CommunicationsSolutions 376 434749 867 Total $3,195 $ 3,412 $6,363 $ 6,759TransportationSolutions $ (606)(32.6) % $ 31616.0 % $ (290)(7.8) % $ 64816.4 % IndustrialSolutions 14214.8 137 13.6257 13.6 23712.2CommunicationsSolutions 49 13.077 17.7 89 11.9129 14.9 Total $(415) (13.0) % $530 15.5 % $ 560.9 % $ 1,01415.0 %TransportationSolutions $ 32217.3 % $ 34417.5 % $ 64717.4 % $ 70017.7 % IndustrialSolutions 14515.1 159 15.8277 14.7 29715.3CommunicationsSolutions 52 13.878 18.0 97 13.0149 17.2 Total $519 16.2 % $ 58117.0 % $ 1,02116.0 % $ 1,14617.0 % OperatingMargin OperatingMargin OperatingMargin OperatingMargin AdjustedOperating Margin(1) AdjustedOperating Margin(1) AdjustedIncome (1) (1)Adjustedoperating incomeand adjustedoperating marginare non-GAAPfinancialmeasures. Seedescription ofnon-GAAPfinancialmeasures. 20202019 ($ inmillions)Operating Margin(1) AdjustedOperating Margin(1) AdjustedOperating Income(1) AdjustedOperatingAdjustedOperating NetSales Net SalesNet Sales Income(1) AdjustedOperating Income(1) Income (Loss)OperatingOperating IncomeOperating Income(Loss) Net SalesOperating IncomeFor the QuartersEnded March 27,March 29, March27, March 29,2020 For the SixMonths Ended2019

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNet Sales Growth21 TransportationSolutions (3):Automotive $ (60)(4.2) % $ (29)(2.1) % $ (31) $ -Commercialtransportation(30) (9.3) (36)(11.1) (8) 14Sensors (24)(10.8) (33) (14.9)(3) 12 Total (114)(5.8) (98) (5.0)(42) 26 IndustrialSolutions (3):Aerospace,defense, oil, andgas (13) (3.9)(10) (2.9) (3) -Industrialequipment (46)(14.1) (40) (12.5)(6) - Medical 105.7 10 5.7 - -Energy 4 2.3 105.6 (6) - Total(45) (4.5) (30)(3.0) (15) -CommunicationsSolutions (3):Data and devices(33) (13.1) (33)(13.1) - -Appliances (25)(13.7) (22) (11.9)(3) - Total (58)(13.4) (55) (12.6)(3) - Total $ (217)(6.4) % $ (183)(5.4) % $ (60) $26 TransportationSolutions (3):Automotive $(124) (4.3) % $(72) (2.5) % $(52) $ -Commercialtransportation(69) (11.1) (81)(13.2) (15) 27Sensors (39)(8.8) (58) (13.1)(5) 24 Total (232)(5.9) (211) (5.3)(72) 51 IndustrialSolutions (3):Aerospace,defense, oil, andgas 11 1.8 17 2.8(6) - Industrialequipment (98)(15.3) (87) (13.7)(11) - Medical 216.1 22 6.3 (1) -Energy 20 6.0 298.7 (9) - Total(46) (2.4) (19)(1.0) (27) -CommunicationsSolutions (3):Data and devices(71) (14.0) (71)(14.0) - -Appliances (47)(13.1) (43) (11.7)(4) - Total (118)(13.6) (114)(13.1) (4) - Total$ (396) (5.9) % $(344) (5.1) % $(103) $ 51 ($ inmillions)Translation (2)AcquisitionsGrowth (Decline)Growth (Decline)(1) Translation (2)AcquisitionsChange in NetSales for the SixMonths EndedMarch 27, 2020versus Net Salesfor the Six MonthsEnded March 29,2019 (1) Organicnet sales growth(decline) is a non-GAAP financialmeasure. Seedescription ofnon-GAAPfinancialmeasures. (2)Represents thechange in netsales resultingfrom changes inforeign currencyexchange rates.(3) Industry endmarketinformation ispresentedconsistently withour internalmanagementreporting and maybe periodicallyrevised asmanagementdeems necessary.($ in millions) NetSales Growth(Decline) OrganicNet Sales Growth(Decline) (1)Change in NetSales for theQuarter EndedMarch 27, 2020versus Net Salesfor the QuarterEnded March 29,2019 Net SalesOrganic Net Sales

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNon-GAAPFinancialMeasures toGAAP FinancialMeasures for theQuarter EndedMarch 27, 202022 Operatingincome (loss):TransportationSolutions $ (606)$ 10 $ 18 $ 900 $- $ 322 IndustrialSolutions 142 2 1- - 145CommunicationsSolutions 49 - 3 -- 52 Total $ (415)$ 12 $ 22 $ 900 $- $ 519 Operatingmargin (13.0) %16.2 % Otherincome, net $ 11$ - $ - $ - $ (8) $3 Income taxexpense $ (42) $(2) $ (4) $ (4) $(31) $ (83)Effective tax rate(10.2) % 16.1 %Income (loss)from continuingoperations $(452) $ 10 $ 18 $896 $ (39) $ 433Diluted earnings(loss) per sharefrom continuingoperations (3) $(1.35) $ 0.03 $0.05 $ 2.67 $(0.12) $ 1.29 andOther AdjustedTax RelatedImpairmentAcquisition-RestructuringAdjustments (4)See description ofnon-GAAPfinancialmeasures. (1)The tax effect ofeach non-GAAPadjustment iscalculated basedon thejurisdictions inwhich theexpense (income)is incurred andthe tax laws ineffect for eachsuch jurisdiction.(2) Includes anincome tax benefitrelated to pre-separation taxmatters and thetermination of thetax sharingagreement withTyco Internationaland Covidien, aswell as the relatedimpact to netother income.U.S. GAAPCharges (1)(Non-GAAP) (4)Charges, Net (1)Items (2) (3) U.S.GAAP dilutedshares excludesone million ofnonvested shareawards andoptionsoutstanding asthe inclusion ofthese securitieswould have beenantidilutivebecause of ourloss during theperiod. Suchamounts areincluded inadjusted (non-GAAP) dilutedshares. ($ inmillions, exceptper share data) ofGoodwill (1)

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNon-GAAPFinancialMeasures toGAAP FinancialMeasures for theQuarter EndedMarch 29, 201923 Acquisition-RestructuringRelated andOther TaxAdjusted U.S.GAAP Charges(1)Charges, Net (1)Items (2) (Non-GAAP) (3)Operatingincome:TransportationSolutions 316 $ 4$ 24 $ - $ 344 $IndustrialSolutions 137 517 - 159CommunicationsSolutions 77 - 1 -78 Total 530 $ 9$ 42 $ - $ 581 $Operating margin15.5% 17.0%Other income, net1 $ - $ - $ - $ 1 $Income taxexpense (91) $(2) $ (10) $ 15 $(88) $ Effectivetax rate 17.5%15.4% Incomefrom continuingoperations 429 $7 $ 32 $ 15 $ 483$ Diluted earningsper share fromcontinuingoperations 1.26 $0.02 $ 0.09 $0.04 $ 1.42 $ (3)See description ofnon-GAAPfinancialmeasures.Adjustments ($ inmillions, exceptper share data)(1) The tax effectof each non-GAAP adjustmentis calculatedbased on thejurisdictions inwhich theexpense (income)is incurred andthe tax laws ineffect for eachsuch jurisdiction.(2) Includesincome taxexpenseassociated withthe tax impacts ofcertain legal entityrestructurings andintercompanytransactions.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNon-GAAPFinancialMeasures toGAAP FinancialMeasures for theSix Months EndedMarch 27, 202024 Operatingincome (loss):TransportationSolutions $ (290)$ 15 $ 22 $ 900 $- $ 647 IndustrialSolutions 257 416 - - 277CommunicationsSolutions 89 - 8 -- 97 Total $ 56 $19 $ 46 $ 900 $ -$ 1,021 Operatingmargin 0.9 %16.0 % Otherincome, net $ 16$ - $ - $ - $ (8) $8 Income taxexpense $ (489) $(3) $ (4) $ (4) $324 $ (176)Effective tax rate815.0 % 17.3 %Income (loss)from continuingoperations $(429) $ 16 $ 42 $896 $ 316 $ 841Diluted earnings(loss) per sharefrom continuingoperations (3) $(1.28) $ 0.05 $0.13 $ 2.67 $0.94 $ 2.50Impairment ofGoodwill (1) (3)U.S. GAAPdiluted sharesexcludes twomillion ofnonvested shareawards andoptionsoutstanding asthe inclusion ofthese securitieswould have beenantidilutivebecause of ourloss during theperiod. Suchamounts areincluded inadjusted (non-GAAP) dilutedshares. (1) Thetax effect of eachnon-GAAPadjustment iscalculated basedon thejurisdictions inwhich theexpense (income)is incurred andthe tax laws ineffect for eachsuch jurisdiction.(2) Includesincome taxexpense related tothe tax impacts ofcertain measuresof Swiss taxreform. Alsoincludes anincome tax benefitrelated to pre-separation taxmatters and thetermination of thetax sharingagreement withTyco Internationaland Covidien, aswell as the relatedimpact to netother income.Acquisition-Charges (1)Restructuring andOther Charges,Net (1) RelatedItems (2) (Non-GAAP) (4)Adjusted (4) Seedescription ofnon-GAAPfinancialmeasures. U.S.GAAPAdjustments Tax($ in millions,except per sharedata)

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNon-GAAPFinancialMeasures toGAAP FinancialMeasures for theSix Months EndedMarch 29, 201925 Operatingincome:TransportationSolutions $ 648 $7 $ 45 $ - $ 700IndustrialSolutions 237 852 - 297CommunicationsSolutions 129 -20 - 149 Total $1,014 $ 15 $ 117$ - $ 1,146Operating margin15.0 % 17.0 %Income taxexpense $ (169) $(3) $ (29) $ 15 $(186) Effective taxrate 17.2 % 16.7% Income fromcontinuingoperations $ 812$ 12 $ 88 $ 15 $927 Dilutedearnings pershare fromcontinuingoperations $ 2.37$ 0.04 $ 0.26 $0.04 $ 2.71Related ($ inmillions, exceptper share data)(Non-GAAP) (3)Charges (1) andOther Charges,Net (1)Restructuring TaxItems (2)Adjusted (3) Seedescription ofnon-GAAPfinancialmeasures. (1)The tax effect ofeach non-GAAPadjustment iscalculated basedon thejurisdictions inwhich theexpense (income)is incurred andthe tax laws ineffect for eachsuch jurisdiction.(2) Includesincome taxexpenseassociated withthe tax impacts ofcertain legal entityrestructurings andintercompanytransactions.Adjustments U.S.GAAPAcquisition-

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNon-GAAPFinancialMeasures toGAAP FinancialMeasures for theQuarter EndedJune 28, 2019 26Operatingincome:TransportationSolutions $ 308 $6 $ 53 $ - $ 367IndustrialSolutions 156 3 8- 167CommunicationsSolutions 56 - 6 -62 Total $ 520 $9 $ 67 $ - $ 596Operating margin15.3 % 17.6 %Other income, net$ 2 $ - $ - $ - $ 2Income tax(expense) benefit$ 245 $ (1) $ (17)$ (307) $ (80)Effective tax rate(47.8) % 13.6 %Income fromcontinuingoperations $ 758$ 8 $ 50 $ (307) $509 Dilutedearnings pershare fromcontinuingoperations $ 2.24$ 0.02 $ 0.15 $(0.91) $ 1.50 (3)See description ofnon-GAAPfinancialmeasures. (2)Includes a $214million income taxbenefit related tothe tax impacts ofcertain measuresof Swiss taxreform and a $93million income taxbenefit related tothe effectivesettlement of atax audit in a non-U.S. jurisdiction.(1) The tax effectof each non-GAAP adjustmentis calculatedbased on thejurisdictions inwhich theexpense (income)is incurred andthe tax laws ineffect for eachsuch jurisdiction.U.S. GAAPAdjustmentsAcquisition-Related Charges(1) Adjusted(Non-GAAP) (3)($ in millions,except per sharedata) Charges,Net (1) and OtherRestructuringItems (2) Tax

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofNon-GAAPFinancialMeasures toGAAP FinancialMeasures for theYear EndedSeptember 27,2019 27Acquisition-Related ChargesRestructuring andOther and OtherTax Adjusted U.S.GAAP Items (1)(2) Charges, Net(1) Items (3)(Non-GAAP) (4)Operatingincome:TransportationSolutions 1,226 $31 $ 144 $ - $1,401 $ IndustrialSolutions 543 1563 - 621CommunicationsSolutions 209 148 - 258 Total1,978 $ 47 $ 255$ - $ 2,280 $Operating margin14.7% 17.0%Other income, net2 $ - $ - $ - $ 2 $Income tax(expense) benefit15 $ (9) $ (61) $(291) $ (346) $Effective tax rate(0.8)% 15.5%Income fromcontinuingoperations 1,946$ 38 $ 194 $(291) $ 1,887 $Diluted earningsper share fromcontinuingoperations 5.72 $0.11 $ 0.57 $(0.86) $ 5.55 $Adjustments (4)See description ofnon-GAAPfinancialmeasures. ($ inmillions, exceptper share data)(1) The tax effectof each non-GAAP adjustmentis calculatedbased on thejurisdictions inwhich theexpense (income)is incurred andthe tax laws ineffect for eachsuch jurisdiction.(3) Includes a$216 millionincome tax benefitrelated to the taximpacts of certainmeasures ofSwiss tax reform,a $90 millionincome tax benefitrelated to theeffectivesettlement of atax audit in a non-U.S. jurisdiction,and $15 million ofincome taxexpenseassociated withthe tax impacts ofcertain legal entityrestructurings andintercompanytransactions. (2)Includesacquisition-relatedcharges of $30million and awrite-off of spareparts of $17million.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofFree Cash Flow28 Net cashprovided byoperatingactivities: Netcash provided bycontinuingoperatingactivities $ 481 $555 $ 892 $ 883Net cash providedby (used in)discontinuedoperatingactivities - 1 - (30)481 556 892 853Net cash used ininvesting activities(378) (165) (667)(85) Net cashused in financingactivities (31)(333) (345)(1,052) Effect ofcurrencytranslation oncash (18) 2 (11) 1Net increase(decrease) incash, cashequivalents, andrestricted cash $54 $ 60 $ (131) $(283) Net cashprovided bycontinuingoperatingactivities $ 481 $555 $ 892 $ 883Excluding: Cashcollected pursuantto collateralrequirementsrelated to cross-currency swapcontracts (38)(32) (32) (82)Capitalexpenditures, net(132) (179) (306)(388) Free cashflow (1) $ 311 $344 $ 554 $ 413(1) Free cash flowis a non-GAAPfinancialmeasure. Seedescription ofnon-GAAPfinancialmeasures. Forthe QuartersEnded March 27,2020 March 29,2019 (in millions)March 27, For theSix Months Ended2020 2019 March29,

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofFree Cash Flow29 December 27,September 27,June 28, March29, December 28,September 28,June 29, March30, December 29,2019 2019 20192019 2018 20182018 2018 2017Net cash providedby operatingactivities: Netcash provided bycontinuingoperatingactivities 411 $879 $ 692 $ 555$ 328 $ 922 $734 $ 362 $ 283$ Net cashprovided by (usedin) discontinuedoperatingactivities - (1) (1)1 (31) 2 66 15 67411 878 691 556297 924 800 377350 Net cashprovided by (usedin) investingactivities (289)(153) (454) (165)80 (419) (233)(201) (241) Netcash used infinancingactivities (314)(334) (257) (333)(719) (420) (338)(330) (634) Effectof currencytranslation oncash 7 (10) 1 2(1) (7) (18) 9 11Net increase(decrease) incash, cashequivalents, andrestricted cash(185) $ 381 $(19) $ 60 $ (343)$ 78 $ 211 $(145) $ (514) $Net cash providedby continuingoperatingactivities 411 $879 $ 692 $ 555$ 328 $ 922 $734 $ 362 $ 283$ Excluding:Receipts relatedto pre-separationU.S. tax matters,net - - - - - - - (5) -Cash (collected)paid pursuant tocollateralrequirementsrelated to cross-currency swapcontracts 6 (39)(11) (32) (50) 6(69) 61 18 Capitalexpenditures, net(174) (152) (166)(179) (209) (258)(222) (195) (237)Free cash flow (1)243 $ 688 $ 515$ 344 $ 69 $ 670$ 443 $ 223 $ 64$ For theQuarters Ended(in millions) (1)Free cash flow isa non-GAAPfinancialmeasure. Seedescription ofnon-GAAPfinancialmeasures.

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Adjusted Returnon InvestedCapital (ROIC) 30Operating income(loss) $ (415) $471 $ 444 $ 520$ 530 $ 484 $570 $ 554Acquisition-related chargesand other items12 7 23 9 9 6 5 5Restructuring andother charges, net22 24 71 67 4275 22 64Impairment ofgoodwill 900 - - - -- - - Adjustedoperating income(1) $ 519 $ 502 $538 $ 596 $ 581$ 565 $ 597 $623 Amortizationexpense $ 46 $45 $ 45 $ 45 $ 45$ 45 $ 45 $ 45Adjustment (2) - -- - (2) (1) - (1)Adjustedamortizationexpense $ 46 $45 $ 45 $ 45 $ 43$ 44 $ 45 $ 44Adjustedoperating incomeplus adjustedamortizationexpense $ 565 $547 $ 583 $ 641$ 624 $ 609 $642 $ 667Income (loss)from continuingoperations beforeincome taxes $(410) $ 470 $ 437$ 513 $ 520 $461 $ 546 $ 530Acquisition-related chargesand other items12 7 23 9 9 6 5 5Restructuring andother charges, net22 24 71 67 4275 22 64Impairment ofgoodwill 900 - - - -- - - Tax items (8)- - - - - - -Adjusted incomefrom continuingoperations beforeincome taxes $516 $ 501 $ 531$ 589 $ 571 $542 $ 573 $ 599Income taxespaid, net ofrefunds $ 101 $43 $ 61 $ 100 $102 $ 75 $ 76 $109 Adjustedcash tax rate 19.6% 8.6 % 11.5 %17.0 % 17.9 %13.8 % 13.3 %18.2 % Adjustednet operatingprofit after taxes $454 $ 500 $ 516$ 532 $ 513 $525 $ 557 $ 546Trailing fourquarter adjustednet operatingprofit after taxes $2,002 $ 2,141Total debt $ 4,355$ 3,973 $ 3,965 $4,036 $ 3,982 $3,967 $ 4,000 $4,008 Total TEConnectivity Ltd.shareholders'equity 9,06610,557 10,57010,622 9,99410,236 10,8319,492 Investedcapital $ 13,421 $14,530 $ 14,535$ 14,658 $13,976 $ 14,203$ 14,831 $13,500 Trailingfour quarteraverage investedcapital $ 14,286 $14,128 AdjustedROIC (1) 14.0 %15.2 % ($ inmillions) (1) Seedescription ofnon-GAAPfinancialmeasures. (2)Adjustment fornon-cashamortizationassociated withfair valueadjustmentsrelated toacquiredcustomer orderbacklog as thesecharges areincluded in theacquisition-relatedcharges and otheritems line. As ofor for theQuarters EndedMarch 27, 2020December 27,2019 September27, 2019 June28, 2019 March29, 2019December 28,2018 September28, 2018 June29, 2018

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute.Reconciliation ofAdjusted EBITDAand AdjustedEBITDA Margin31 Net income(loss) $ (456) $439 (Income) lossfrom discontinuedoperations 4 (10)Income taxexpense 42 91Other income, net(11) (1) Interestexpense 11 15Interest income(5) (4) Operatingincome (loss)(415) 530Acquisition-related charges12 9Restructuring andother charges, net22 42 Impairmentof goodwill 900 -Adjustedoperating income(1) 519 581Depreciation andamortization (2)180 171 AdjustedEBITDA (1) $ 699$ 752 Net sales $3,195 $ 3,412 Netincome as apercentage of netsales (14.3) %12.9 % AdjustedEBITDA margin(1) 21.9 % 22.0% Operatingincome (loss) $(606) $ 142 $ 49$ (415) $ 316 $137 $ 77 $ 530Acquisition-related charges10 2 - 12 4 5 - 9Restructuring andother charges, net18 1 3 22 24 17 142 Impairment ofgoodwill 900 - -900 - - - -Adjustedoperating income(1) 322 145 52519 344 159 78581 Depreciationand amortization(2) 117 46 17 180109 42 20 171Adjusted EBITDA(1) $ 439 $ 191 $69 $ 699 $ 453 $201 $ 98 $ 752Net sales $ 1,857$ 962 $ 376 $3,195 $ 1,971 $1,007 $ 434 $3,412 Operatingmargin (32.6) %14.8 % 13.0 %(13.0) % 16.0 %13.6 % 17.7 %15.5 % Adjustedoperating margin(1) 17.3 % 15.1% 13.8 % 16.2 %17.5 % 15.8 %18.0 % 17.0 %Adjusted EBITDAmargin (1) 23.6 %19.9 % 18.4 %21.9 % 23.0 %20.0 % 22.6 %22.0 % (2)Excludes non-cash amortizationassociated withfair valueadjustmentsrelated toacquiredcustomer orderbacklog of $2million for thequarter March 29,2019, as thesecharges areincluded in theacquisition-relatedcharges line. (1)See description ofnon-GAAPfinancialmeasures.CommunicationsSolutions Total ($in millions) TotalTransportationSolutionsIndustrialSolutionsSolutionsTransportationIndustrialSolutionsSolutionsCommunications($ in millions) Forthe QuartersEnded March 27,2020 March 29,2019 For theQuarters EndedMarch 27, 20202019 March 29,

TE ConnectivityConfidential &Proprietary. Donot reproduce ordistribute. Ratio ofConsolidatedTotal Debt toConsolidatedEBITDA (asdefined in theCredit Facility)*32 ConsolidatedTotal Debt (asdefined in theCredit Facility)(1): Short-termdebt $ 601 Long-term debt 3,765ConsolidatedTotal Debt (asdefined in theCredit Facility) (1)$ 4,366ConsolidatedEBITDA (asdefined in theCredit Facility)(2): Net income $699 Tax SharingAgreement-related income (8)Consolidated netincome 691Interest expense49 Income taxexpense 305Depreciation andamortization 703Share-basedcompensationexpense 74 Lossfrom discontinuedoperations, net ofincome taxes 6Non-recurringcharges:Acquisition-related charges51 Restructuringand othercharges, net 184Impairment ofgoodwill 900Pension andpostretirementbenefits expensein excess ofminimum requiredcontributions 8ConsolidatedEBITDA (asdefined in theCredit Facility) (2)$ 2,971 Ratio ofConsolidatedTotal Debt toConsolidatedEBITDA (asdefined in theCredit Facility) 1.5x As of and forthe TwelveMonths Ended ($in millions) (2)RepresentsConsolidatedEBITDA asdefined in ourCredit Facility andis calculatedusing the mostrecentlyconcluded periodof fourconsecutive fiscalquarters. March27, 2020 (1)RepresentsConsolidatedTotal Debt asdefined in ourCredit Facility.Balancesrepresent the faceamount of debtand exclude netunamortizeddiscounts,premiums, anddebt issuancecosts and theeffects of fairvalue hedge-designatedinterest rate swapcontracts. *Ourfive-yearunsecured seniorrevolving creditfacility ("CreditFacility") containsa financial ratiocovenantproviding that if,as of the last dayof each fiscalquarter, the ratioof ConsolidatedTotal Debt at suchtime toConsolidatedEBITDA for thethen mostrecentlyconcluded periodof fourconsecutive fiscalquarters of TEConnectivity Ltd.exceeds 3.75 to1.00, subject tocertain limitedexceptions in theevent of qualifyingacquisitions (asdescribed in theCredit Facility), anEvent of Default(as defined in theCredit Facility) istriggered.