December 2015

1

This presentation contains forward-looking statements, which are based on current expectations and assumptions

that are subject to risks and uncertainties and actual results could materially differ. Such information is subject to

change and we undertake no obligation to update these forward-looking statements. For a discussion of the risks

and uncertainties, see our most recent filings with the Securities and Exchange Commission, including our current,

annual and quarterly reports.

If this presentation references non-GAAP financial measures, these measures are located on the “Investor

Relations” section of our website, www.flextronics.com along with the required reconciliation to the most

comparable GAAP financial measures.

company$26 B

sq. ft. of manufacturing

& services space52 M

global customers>1,000

employees~200,000

countries30

active components1.2 M

locations 100+

active global

suppliers14,000

design

engineers2,500

3

Evolving our portfolio to provide more predictable

earnings and higher margin

Committed to 5-10% annual net income growth

Strong sustainable free cash flow

Committed to return over 50% of free cash flow

1

2

3

4

4

Portfolio evolution

continues

HRS business grew

25% in the last 2 years

IEI business grew 19%

in the last 2 years

Revenue($ in Billions)

2 year adjusted

operating profit growth

of 23%

8 consecutive quarters

of operating margin

expansion

Adj. Operating Income($ in Millions)

Adjusted net Income

growth of 15% in FY15

Achieved record annual

adjusted EPS

Adj. EPS(per share)

Generated ~$2 billion

of free cash flow in the

last 3 years

On track to achieve

5-year target by FY17

Free Cash Flow

~$24B

~$26B

FY13 FY15

+11%

$611

$751

FY13 FY15

+23%

$0.84

$1.08

FY13 FY15

+29%

FY15FY13 FY17E

~$2B

5-Year Target

$3 - $4 Billion by FY17

5

100

1,000

10,000

Intelligence

Age™

152x every

years

Information

Age

252x every

years

Modern

Age

402x every

years

1750 1850 1970 2010Source: World Bank, Maddison Project, De Long- UC Berkeley

Industrial

Age

1002x every

years

6

By 2020, the Intelligence of Things™ will bring 50 billion

connected devices to market, creating a $7.1T in TAM.(versus an estimated 10 billion connected devices today)

Source: IDC 2015

7

The World is Changing

Increased

RegionalizationGrowth of

Asian OEMsFaster Product

Cycles

More Disruptive

Products

New Hardware

OEMsCorporate Social

Environmental

Responsibility

Internet of Things

Supply Chain

Complexity

Innovation

on the Rise

8

Contract Manufacturing

(CM)

Electronics Manufacturing Services

(EMS)

End-to-End Supply Chain Solutions – Sketch to

Scale

Revenue

$0 $5B $25B $30B $35B

TAM:

$524B

TAM:

$940BTAM:

$1T+

1993-2001 2001-2010 2010-Future

Operating Margin

Source: IDC and TFI

9

Flex PlatformA Supply Chain Solutions Provider

10

Healthcare

$2Billion

Automotive

$2Billion

Industrial

$1Billion

Home

Appliances

$1Billion

Capital

Equipment

$1Billion

Energy

$1Billion

Networking

$3Billion

Communications

$3Billion

Server/Storage

$3Billion

Wearables

$1Billion

Connected

Living

$1Billion

Mobile

$3Billion

11

>70 Locations | ~25M Square Feet | ~200K Employees

Power

PCBA, Box Build, SI

Mechanicals

Aguascalientes, MX ●●

Althofen, Austria●

Austin, TX ●●Dallas, TX ●

Fort Worth, TX ●Houston, TX ●

Batam, Indonesia ●

Cebu, Philippines ●●

Ashville, NC ●Charlotte, NC ●

Chengdu, China ●●

Chennai, India ●●●

Columbia, SC ●

Coopersville, MI ●

Cork, Ireland ●Limerick, Ireland

●

Dalingshan (Dongguan), China ●Qiaotou (Dongguan), China ●

Guadalajara, MX ●●

Huang Tian (Shenzhen), China ●●Gushu (Shenzhen), China ●Nanjing, China ●Shanghai, China ●Shenzhen, China ●Suzhou, China ●Wuzhong (Suzhou), China ●●●Zhuhai, China ●●

Ibaraki, Japan ●

Jaguariuna, Brazil ●

Juarez, MX ●●

Joo Koon Singapore ●●Kallang, Singapore ●

Manaus, Brazil ●●

Migdal Haemek, Israel ●Ofakim, Israel ●Yavne, Israel ●

Mukachevo, Ukraine ●

Northfield, MN ●

Penang, Malaysia ●●Port of Tanjong Pelepas (Johor), Malaysia ●Senai (Johor), Malaysia ●●Skudai (Johor), Malaysia ●

Ronneby, Sweden ●

Sarvar, Hungary ●●Tab, Hungary ●Zalaegerszeg, Hungary ●

Sorocaba, Brazil ●●

Taipei, Taiwan ●

Tczew, Poland ●●

Tianjin, China ●

Tijuana, MX ●●

Timisoara, Romania ●●

Toronto, Canada ●

Treviso, Italy ●

Valencia, CA ●

Zurich, Switzerland ●

Tempe, AZ ●

Buffalo Grove, IL ●

Manchester, CT ●

Sonderborg, Denmark ●

12

13

More predictable earnings and high margins

1. Fiscal 2020 target represents our targeted long-term model (double-digit HRS & IEI growth, INS stable, CTG growing in-line with GDP 2.5%)

Target1

FY20E

~20% ~20%

~30%~30%

~40%

FY10

6%13%

42% 39%

19%

FY15

17% 14%

34%35%

31%

HRS + IEI

$8.0BHRS + IEI

$4.5BHRS + IEI

~$13.0B

CTG INS HRS IEI

14

FY15 Adjusted

Operating Income

Target Adjusted

Operating Margin Range

FY15 Adjusted

Operating Income

$228M

$132M

$257M

$218M

Corporate

Services & Other1 ($84M)

Total $751M

HRS

IEI

CTG

INS

2% 3%

4%

5%

6%

7%

4%3%16%

27%

26%31%

CTG INS HRS IEI

43%

1. Corporate services and other related to unallocated cost

15

Target Model Features

Revenue

Growth

Operating

Margin

Double digit 5-7%

Double digit 4-6%

Stable 3-4%

Better mix 2-3%

HRS

IEI

CTG

INS

~30%~30%

~20% ~20%

~60%

CTG INS HRS IEI

Target Fiscal 2020 Potential

Operating Profit Contribution

16

More Diversified

Accelerated time to market

Co-innovation

Visibility into future trends

Revenue($ in millions)

Fiscal2010

Fiscal2015

CTG INS HRS IEI

19%

6%13%

42%

39%

31%

17% 14%

34% 35%

Mobile• Smart Phones

• Wireless Modules

• Headsets

• Portable Audio

Consumer • Game Consoles & Accessories

• Wearable Technology

• Smart Home Devices

• Home Entertainment Equipment

Computing• EMS Desktop / Notebook PCs

• Tablets

• Printers

$9,358 $8,940

$3,576

FY14 FY15 FY16 YTD

17

Operating

Profit

5+ %

2+ %

3-4 %

Customers

Added

33

3

6

STRATEGIC

CORE

ICE Aggressive

Moderate

Stable

Customers added reflects FY15 figures

18

19

We lead in the wearable movement

• 300%+ avg CAGR

We lead connected home growth

• 81%+ avg CAGR

We are leading the NEXT BIG THING

• New Vectors in Development

• Higher Margins and more diversification

• Driven by the Intelligence of Things™

1 A better mix of customers and products

2 Actively engaging new markets for richer opportunities

and new growth

3 Leveraging our innovation to bring the Intelligence of

Things™ to consumer products

4 Running a lean operation of highly talented individuals to

consistently achieve stated financial results

20

Run THE Best Consumer Business

21

Stable revenue

Strong operating cash flow

Broad, deep market

penetration

Revenue($ in millions)

Fiscal2010

Fiscal2015

CTG INS HRS IEI

19%

6%13%

42%

39%

31%

17% 14%

34% 35%

Communications 3G / 4G / LTE

Wireless

Wireline

Networking• Routing

• Switch

• SDN

• Optical

Server & Storage Converged: Compute/Storage &

Appliance/Security

Enterprise

Flash / Hybrid Storage

SSD

$9,688 $9,191

$4,171

FY14 FY15 FY16 YTD

22

- $9 billion business

- Server, Storage - Converged: Compute/Storage & Appliance/Security

- Communications: Wireless & Wireline

- Networking: Routing, Switch, SDN & Optical

• Innovation & Investment

• 10 New customer logos, solid bookings and business pipeline

• High Operating Cash FlowFA

ST

FA

CT

S

23

Communication

#1

Network

#1

Server & Storage

#2

Converged

#1

Converged

Infrastructure

Network Function

Virtualization

Software

Defined

Open Source

/Compute

Source: IDC Ems QTR revenue tracker

Flash

Storage

23% CAGR

Data

Analytics

$76Billion

24

Source: IDC Ems QTR revenue tracker

Digital Data

will exceed

40Zettabytes

Internet

Security

$43Billion100xincrease in

Wi-Fi Capacity

8xGrowth in Smart

Phone Traffic 10xvideo data

traffic on mobile

network

37%Growth in

SDN NFV

Applications

Converged

Infrastructure

Network Function

Virtualization

Software

Defined

Open Source

/Compute

Telecom - Wireless

25Source: UBS Estimates, Company Reports, Gartner, and Dell Oro

3G

Enterprise

Switching

GPON/FTTH

PBX & Unified

Communication

IP Core & Edge

Routing

Enterprise RoutingEnterprise Storage Enterprise Server

Optical

Networking

WLAN

(Networking) Converged Infrastructure 3.0 (Server Storage)

Small Cells

Broadcast/Video

Investing & Emerging Legacy HardwareMarket Leadership Position

DAS

RRH

Security Appliance

Em

erg

ing

Tech

no

log

y G

row

th

Leg

acy

Tech

no

log

y

Microwave

Backhaul

Flash/Hybrid

Storage

LTE – 4G

100G400G

SDN

Reference

Platforms

Converged

Platforms

Rack Solutions

5G

C-Ran

26

Double digit growth

Massive TAM

Expansion across new

industries

Technology convergence

Revenue($ in millions)

Fiscal2010

Fiscal2015

CTG INS HRS IEI

19%

6%13%

42%

39%

31%

17% 14%

34% 35%$3,788

$4,459

$2,276

FY14 FY15 FY16YTD

IndustrialAppliances

and Lifestyle

Self-Service/

Smart Retail

Capital

Equipment

Office

Solutions

Safety &

Security

Energy

and Metering

27

$4.46Brevenue in FY15 and

18% increase over

FY14

Increased from

7 to 13accounts with

>100M in revenue

23 accounts

with double digit growth

12 accounts

with triple digit growth

>$1.6Bof new

manufacturing business wins

44new accounts

185 new program

ramps

17%revenue

contribution to Flex

total business

On track for double digit growth in FY16

LightingTAM: $72B

AutomationTAM: $102B

Capital EquipmentTAM: $140B

AgricultureTAM: $36B

Connected Home and Lifestyle

TAM: $198B

EnergyTAM: $371B

2014 Flex TAM’s

28

Industrial

AutomationAppliances Lifestyles Self-service HVAC

Capital

Equipment

Measurement

Instrumentation

& Test

Building

Automation

Safety &

SecuritySmart Grid Oil & Gas

Water Transport

& Treatment

29

Approaching $1B in Industrial Home and Lifestyle Business in FY15

Window

Controls

Water

Heater

HVAC

Lighting &

Fan Controls

Door LocksHome

Appliances Pool

EquipmentSmart

Irrigation

30

31

Design, Engineering and Manufacturing Partner for

Leading Global Electric Meter Companies

Over 25% of North American Electric Meters Produced for

all Major OEM’s

Energy Management

Largest Manufacturer of Crystalline Silicon Solar Silicon Modules, Outside China, with

1.7 GW/Year Capacity

Largest Manufacturer of Micro-Inverters in the World with over

10 million Shipped To-Date

Renewable Energy

Full Spectrum Capabilities to Support Residential,

Commercial and Utility Scale Products

Design, value engineering, Manufacturing and Cost Optimization Through

Alternate Materials Systems

Energy Storage

32

Smart, connected, and most efficient solar panel tracker technology on market

NEXTracker's advanced solar tracking solutions, along with Flex's experience in the energy sector, solar manufacturing and our global reach, will provide valuable and scalable system-level solutions for our energy customers worldwide, improving their competitive offering.

33

Double digit growth

Longer product lifecycles

Significant barriers to entry

Focused M&A

Revenue($ in millions)

Fiscal2010

Fiscal2015

CTG INS HRS IEI

19%

6%13%

42%

39%

31%

17% 14%

34% 35%

Automotive• Vehicle Electronics

• Connectivity

• Energy Management

Defense & Aerospace• Defense

• Civil Aviation

• Homeland Security

Medical• Consumer Health

• Drug Delivery

• Disposable Devices

• Medical Equipment

$3,275$3,557

$1,860

FY14 FY15 FY16YTD

34

FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18

~21%

10%+

Revenue Bookings

FY16 FY17 FY18

95%Booked

92%Booked

85%Booked

*Compared to traditional competitors

Automotive Medical Aero & Defense

#1Industry(Technology and

Revenue)

#1*Industry(Technology and

Revenue)

79%(Bookings increase

over FY14)

35

~$2 billionsegment

25+ locations

9,000employees

15countries

• Connectivity &

Infotainment

• Motion & Power

Controls

• Smart Actuators

• Smart Camera

• Electronic Module

Design/Manufacturing

• EMI/EMC Simulation

and Validation

• VA/VE Analysis

• Component Validation,

Re-Flash “Last to

Touch” Logistics

• Overhead Consoles &

Ambient Lighting

• LED Driver Modules

• Flexible LED Lighting

(Q-Prime®)

• Power & Signal

Distribution

• Electrohydraulic

Controls

• Power Conversion,

Storage & Charging

Manufacturing

& ServicesSmart Electronics Clean TechLighting

36

Extends Flextronics’ market

leadership in automotiveCustomer and Global Expansion

• #1 - Global market share leader in exterior

mirror motion controls

– Extends existing $100M motion control

business

• “Smart” mirror embedded

with electronics

– Complements Flex smart

camera activity

– Actuators are the single most value-add

of all smart components in the mirror

• Accelerates our position with strategic

OEM’s (VW, Audi, Toyota, Fiat and

several OEM’s in China)

• #1 market share leader in China

• Specified by the OEM’s

37

• #1 manufacturing solutions provider in

the medical market

• ~$1.6B in annual revenue

• 16 FDA registered sites

• We helped design more than 65 medical

products that are in the market today

• Over 60 manufacturing transfers have

been made with 100% success rate

• Excellent track record in FDA inspections

We help medical customers become more competitive by bringing innovative products to market faster and at lower

costs through world-class end-to-end supply chain solutions with a commitment to quality in everything we do.

Expertise & ExperienceStrength & Stability

38

39

Laboratory Diagnostics Equipment• Lab Blood Diagnostics

• Mass Spectrometry

• High Pressure Liquid Chromatography

• Dialysis

▌

Consumer Diagnostics• Blood Glucose Meters

• Handheld Wireless Controllers

• Hearing Aids

• Aesthetic Care Devices

▌

Imaging & Monitoring• Ultrasound

• CT, MRI, PET

• X-ray

• Patient Monitoring

▌

Patient Mobility• Hospital Beds

• Patient Mobility Systems

▌

Disposable Devices• Diagnostic Catheters

• Wound Management

• Infusion Sets

• Pressure Cuffs

• Drug Delivery Cassettes & Cartridges

▌

Drug Delivery• Electro-Mechanical Drug Delivery Systems:

(Insulin, HGH, pain)

• Smart Patches

• Inhalers

▌

Microelectronics for Implantable

Devices• Neuro-Stimulation

• Cochlear Implants

• Cardiac Rhythm Management

▌

Orthopedics• Cases & Trays

• Instruments

• Power Tool Build & Repair

• Logistics

• Design (2015)

• Machining Expansion (2015)

▌

40

41

Non-traditional businessSignificant opportunities to grow

our market leading position

Strategic relationshipsPartnered across leading

customers in varied industries

InnovationDistinctly positioned as a product

innovation enabler

Partnering with

tomorrow’s disruptorsPowerful differentiation to create

future demand

42

Intense customer focus builds trust

and long-standing relationships

30 years

15 years

10 years

10 years

0 years

• Footwear manufacturing largely unchanged in past 40 years

• Macro challenges like Labor Rate inflation and TTM required different set of

solutions

• Situation: Nike needed a step change in their operations

• Question: Could Flex bring a new perspective to change their business?

• After an extended assessment of learning Nike’s business, and Nike

understanding Flex’s capability and Exec Commitment, a partnership was

formed to manufacture athletic shoes

• Leverages the Flex Platform, with emphasis on• Automation

• IT systems

• Production reporting

• Responsiveness to Demand

• Customization

• Initial production line set up in Product Innovation Center in California

Rear CompartmentRear Tail Lamp PCBAs

LED Tail Lamp Controllers

Power Deck Lid/Lift Gate Controllers

Smart Cameras

DoorsMotion Control Modules

Power Mirror Actuators

SeatsPower Seat Modules

Front LightingFront Lamp PCBAs

Light Control Modules

Engine & PowertrainRecuperation Modules

DC/DC Converters

High Precision Solenoids (Engine & Transmission)

Wiring Harnesses (Al & Cu)

Battery Cables

Specialized Harnesses (incl. FPC & AL)

Instrument PanelDigital LCD Gauges

LED/RGB Ambient Lighting

Overhead SystemsOverhead Consoles

Dome Lamps

Sunroof ControllersConnectivity/InfotainmentConnectivity & Media Modules

Media Device Interface Modules

Rear Seat Entertainment Modules

Vehicle System Interface Modules

Head Units

44

45

Diabetes Blood glucose meters

Insulin delivery systems and tubing

sets

Dialysis disposables and equipment

CardiacDiagnostic catheters

Implantable heart monitoring systems

Cardiac rhythm monitoring

RespiratoryInhalers & Nebulizers

C-Pap

BrainNeuro-stimulation

Transdermal patch for migraines

OrthopedicsBlades and cutters

DiagnosticsBlood analyzers

Imaging

DermatologyWound management systems

Aesthetic care devices

MobilityHospital beds

Mobility systems

HearingCochlear implants

DentalHigh speed headpiece

PodiatricFoot ulcer system

Gel cushions

Hospital SuppliesIV pumps and tubing sets

Syringes

Blood collection devices

General Surgery Insufflation sets

Gastic bands

Surgical packs

46

Micro-electronics

encapsulation

(flex circuits)

Sensor Integration

Optics (image capture)

Smart Watch Packaging

(computing/mechanics)

Bendable / Stretchable

Electronics

Waterproofing

Customization/Personalization

Technology

Flex Capabilities

Sport & Fitness

Wellness

Image Capture

Lifestyle Computing

Entertainment

Apparel & Fashion

Apparel & Fashion

Personal Data Management

Sectors We Support

Smart Watches

Smart Glasses

Notification Sensors

Smart Fabrics

Smart Fitness Wristbands

Super Fitness Watches

Fitness Shoe Sensors

Smart Socks

47

Wearables /

Fitness Trackers

Energy Management /

Thermostats

Streaming

Video

and

IPTV

Smart

Home

Controllers

Streaming

Audio

Cloud

Analytics

Smart Sensors

and

Lighting Controls

48

Smart Home platform connecting devices seamlessly and globally

3rd largest connected home software company on the planet

30 plus OEM partners, most of which are Flex customers

Synergy for Flex to drive new and exciting relationships

49

Sensors & Actuators

Open Innovation Platform

Lab IX/ Startups

InternalOEMs University Research Institutes

Government & Public

Innovation Services

ComputingBattery & Power

Mechanicals & Plastics

Smart Software

Human Machine Interface

Wireless & Connectivity

Value Engineering

Semiconductors Flexible Technologies

Technology Partners

Centers of Excellence

Aerospace & Defense

Automotive EnergyIndustrial Automation

Fitness & Medical

Consumer Electronics

Communications & Networking

Server & Storage

Markets & Products

50

2010 2012 2013 2014

IPO Date: July 2012

Product: Security Appliances

Flex Exclusive

IPO Date: Sept 2013

Product: Security Appliances

Flex Exclusive

IPO Date: Dec 2013

Product: Converged Storage

Flex Exclusive

IPO Date: Nov 2009

Product: Security Appliances

IPO Date: May 2013

Product: Optical

Products & SDN

Flex Exclusive

IPO Date: April 2012

Product: Network Control

IPO Date: Sept 2013

Product: SSD Enterprise

Storage

IPO Date: Nov 2012

Product: Wireless

Networking

IPO Date: June 2014

Product: SDN Solutions

(Gigabit Ethernet Switches)

51

Silicon Valley’s Customer Innovation CenterProduct Concept > Design & Engineering > Rapid Prototyping > Volume Production > Repair & Refurbish

Manufacturing

• Scalable

Manufacturing

• Procurement &

Sourcing

Advanced

Engineering &

Robotics Labs

• Value Engineering

Services

• Manufacturing

Technology

Innovation

Interconnect

Technology Center

• Multek (PCBs,

Flexible & Rigid)

• Advanced Printed

Circuits

• Integrated Design

Capabilities

Failure Analysis

Labs & Mechanicals

• Materials

Characterization

• Sheet Metal

Manufacturing

System

Integration

• Configure to

Order

• Build to Order

New Product Introduction

• Prototype to Product

Launch

• 3D Printing (plastic)

Confidential

Center

• Private & Secure

Manufacturing

Room

Lab IX

• Startup hardware

Accelerator

• Business Scaling

Resources

Global Services

• Forward & Reverse

Logistics

• Vendor Managed

Inventory

Innovation Labs &

Design Center

• Technology Innovation &

Engineering

• Design for ‘X’ Services

• 3D Printing (metal)

WELCOME

CENTER

52

WearablesConnected

Living

Digital Health Smart Energy Connected

Transportation

Biometric smart clothing

Multi-feature wearable

enabling commerce

3D augmented interactive

reality platform

Wearable fitness

tracking

Shared, interactive

shopping list

Autonomous crime

prevention robots

3D display technology

for personal use

Mood enhancing /

altering wearable

Women's health device

Brain sensing headband

Stretchable biometric

circuits and sensors

Ultrathin, flexible,

rechargeable batteries

Rechargeable battery

management system

Smart adapter to

wirelessly control lights

Wireless charging for

personal devices

Smart drones for

transportation

Mobility /

Cloud

High-speed contactless

data connectivity

Low power Wi-Fi chip for

wireless peripherals

Integrated, configurable

wireless modules

Miniaturized global

navigation modules

Smart

Automation

Electro-adhesion

technology

Wireless soil and

environment monitoring

Force-sensitive touch

technology Smartphones as

dashboard cameras

53

Flex began incubating Elementum in 2012

Elementum is a majority-owned subsidiary of Flex

– Flex owns a majority of the outstanding equity

and controls the board of directors

– Consolidated financials with Flex

Elementum has over $60M in total funding

Board of Directors, Advisory Board, and Investors

from:

– Flex

– Lightspeed Venture Partners

– Silver Lake Partners

– Workday

– LinkedIN

– Yahoo

54

55

Improving earnings efficiency

Disciplined capital deployment

Internal target threshold stands at 20%

ROIC well above WACC

Return on Invested Capital1

(ROIC %)

19.0%

22.1%

23.7%

FY13 FY14 FY15

19%

22%

24%

1. Return on Invested Capital (ROIC) is calculated by dividing the Company's last twelve months after-tax Non-GAAP operating income by the net invested capital asset base as of each date. After-

tax non-GAAP operating income excludes charges for stock-based compensation expense and restructuring charges. The net invested capital asset base is defined as the sum of shareholders'

equity and net debt averaged over the last five quarters.

56

Committed to returning over 50% of annual free cash flow to shareholders

Since FY11, we have repurchased…

Over $2.3 Billion in stock

Over 300 Million shares

Over 30% of net shares outstanding

75%

63%

75%

% of Free Cash Flow

Returned to Shareholders

1-YrFY15

3-YrFY13-15

5-YrFY11-15$400

$510

$322

$475$416

813757

684639

591 563 557

FY10 FY11 FY12 FY13 FY14 FY15 FY16 YTD

Repurchased ($ millions)

Shares Outstanding

Share Repurchase($ millions)

65Mshares

82Mshares

52Mshares

60Mshares

39Mshares

$400

$510

$322

$475$416

$242

21Mshares

57

Generating strong sustainable free cash flow to support growth

$715M

$855M

$622M

$463M$416M

$680M $701M

$554M

368M

FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 YTD FY17E

$3 Billion Target

$3 - $4 Billion

$715M

$855M

$622M

$463M$416M

$680M $701M

$554M

$368M

58

Debt Maturities ($ millions)

(Calendar Year)

Solid liquidity

No near-term maturities

Low cost of debt ~3.5%

Strong credit metrics (Debt / EBITDA (LTM) : 2.2x)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

~$3.2B

$1.5B

Revolver

$1.7B

Cash

Total Liquidity

4.625%

Notes

5%

NotesTerm Loans

LIBOR + 125 to 137.5 bps

$589

$469$500 $500

Capital Structure as of Q1 FY2016 earnings announcement 7/23/2015

4.75%

Notes

$600

59

Primarily focused on investing to expand our HRS capabilities

Target capabilities

Strategic customers

Longer product lifecycles

Barriers to entry

Higher margins

EPS Accretive

Key Criteria$25-$100M

2 5

<$25M

Reflects M&A transactions completed from FY13 to FY16, excludes OEM asset acquisitions

>$100M

Purchase Price

3

60

61

($ in millions, except per share amounts) September 26, 2014 June 26, 2015 September 25, 2015

Net sales $6,529 $5,566 $6,317

Adjusted operating income 183 159 196

Adjusted net income 157 134 153

Adjusted EPS $0.26 $0.23 $0.27

GAAP operating income 172 143 180

GAAP net income 139 111 123

GAAP EPS $0.23 $0.19 $0.22

Net sales of $6.3B above the mid-point guidance of $5.9 - $6.5B

Adjusted operating income of $196M above the mid-point of our guidance range of $165 - $205M

Adjusted EPS of $0.27 towards the high-end of guidance of $0.22 - $0.28

Please refer to the Investor Relations section of our website which contain the reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures

62Please refer to the Investor Relations section of our website which contain the reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures

23.3%

24.1%23.7%

22.9% 22.7%

Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

(ROIC %)

$0.26

$0.30

$0.27

$0.23

$0.27

Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

(EPS)

6,529 7,025

5,952 5,566

6,317

5.8% 5.8%

6.4% 6.4% 6.3%

Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

Adj. Gross Margin($ in millions)

183

207

178159

196

2.8%2.9%

3.0%2.9%

3.1%

$100

$120

$140

$160

$180

$200

$220

$240

Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

% Revenue($ in millions)

63Please refer to the Investor Relations section of our website which contain the reconciliation of the non-GAAP financial measures to the most directly comparable GAAP measures

$66 3.0%

$41 2.0%

$32 2.8%

$71 7.5%

Corporate

Services & Other1 ($14)

Total $196 3.1%

INS

CTG

HRS

($ in millions)

IEI

1. Corporate services and other related to unallocated cost

3%

5% 7%

3% 4%

4% 6%

• Strong sequential top-line growth and improved

utilization levels

• Remained within target range while managing

mobile phone demand erosion in China

• Exceeded target range due to solid execution and

strong contribution from MCi acquisition

• Revenue fell short of expectations due to ramp

challenges and increased macro weakness

2%

64

• Q2 FY16 was $24M, better than guidance of ~$25M

• Outlook: quarterly estimate of ~$25M

• Q2 FY16 was 11.4%

• Outlook: 8-10% tax rate

• Intangible amortization $16M

• Stock based compensation $16M

• Aggregate impact on EPS $0.05

65

Three Months

Ended

Six Months

Ended

($ in millions) Sep-15 Sep-15

GAAP net income $123 $234

Depreciation and amortization 120 230

Change in net working capital (27) 104

Other operating cash flows, net 84 94

Net cash provided by operating activities 300 662

Purchases of property & equipment, net (157) (294)

Free Cash Flow 143 368

Payments for share repurchases (142) (242)

Payments/Proceeds from borrowings, net (13) 575

Other investing and financing, net (651) (661)

Net change in cash and cash equivalents ($663) $40

1,886 1,834 1,866 1,730

1,858

7.2%6.5%

7.8% 7.8%7.4%

Sep-14 Dec-14 Mar-15 Jun-15 Sep-15

% Annualized Revenue($ in millions)

400

510

322

475 416

242

757 684 639

591 563 557

FY11 FY12 FY13 FY14 FY15 FY16 YTD

Shares Outstanding

($ in millions)

66

• Strong SG&A control, with costs running below guidance

• Capex expected in-line or below depreciation for rest of the fiscal year

• Sketch-to-scale engagement model well received by customers

• Nike partnership exemplifies sketch-to-scale value proposition and

fresh approach to innovation, design and manufacturing

• Invested $142M to repurchase ~13M shares or ~2% of float

• NEXTracker acquisition complements our $1B+ Energy business and

drives accretive growth, margin, EPS and cash flow

67

35%

18%15%

32%

HRSIEI

CTG INS

Sep

2015

33%

($ in millions) Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15E

Business Group $ $ $ $ $ Q/Q % Y/Y % Outlook (Q/Q)

INS 2,341 2,358 2,052 1,966 2,205 12% -6% Up mid to high single digits

CTG 2,210 2,647 1,861 1,565 2,011 28% -9% Down low single digits

IEI 1,097 1,106 1,132 1,130 1,146 1% 4% Up mid to high single digits

HRS 881 914 907 905 955 6% 8% Up low single digits

Total Revenue $6,529 $7,025 $5,952 $5,566 $6,317 13% -3%

Integrated Network

Solutions(Telecom, Networking, Server & Storage,

Converged Infrastructure)

Consumer Technology

Group(Wearables, Digital Health, Gaming,

Connected Home, Mobile, PC/Printers)

Industrial & Emerging

Industries(Semiconductor & Capital Equipment, Office

Solutions & Industrial Automation, Appliance

& Lifestyle, Energy, Lighting)

High Reliability

Solutions(Automotive, Medical, Aerospace &

Defense)

36%

17%13%

34% Sep

2014

30%

HRSIEI

CTG INS

68

Adjusted SG&A Expense ~$210 - $215 million

Interest & Other Expense ~$25 million

Adjusted Income Tax Rate 8-10% range

GAAP EPS $0.22 - $0.28

WASO 563 million shares

($ in millions, except per share amounts)

Adjusted operating income excludes approximately $20 million for stock based compensation, of which approximately $17 million is excluded from adjusted SG&A.

GAAP EPS reflects approximately $0.06 for intangible amortization and stock-based compensation expense.

$6,200 - $6,800

$195 - $235

$0.28 - $0.34

69

Kevin Kessel Mary Lee

VP, Investor Relations Sr. Manager, Investor Relations

kevin.kessel@flextronics.com mary.lee@flextronics.com

(408) 576 - 7985 (408) 576 - 5167

For more information contact:

investors.flextronics.com