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2023 Q2&H1 Results SYNNEX TECH. INTL. CORP.

August, 2023

Disclaimer

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IMPORTANT NOTICE

Synnex’s statements of its current expectations provided herein are forward-looking. These statements are subject to risks and uncertainties that might cause significant deviations from actual results, including but not limited to changes in business policy, possible fluctuations in economic situations, technology development, competition environment, and other circumstances beyond control. Synnex undertakes no obligation to update the forward-looking statements to reflect events or circumstances after the issuance of the statements.

Nothing contained herein constitutes an investment advice, offer or solicitation for the purchase or sale of any financial instrument. While reasonable care has been taken to ensure that the information contained herein is not untrue or misleading at the time of publication, Synnex makes no representation that it is accurate or complete. Neither Synnex nor any of its officers or employees shall be liable for any direct, indirect or consequential loss, damage, cost or expense incurred or arising from any use of the information contained herein.

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A USD $26B Hi-Tech Supply Chain Management Service Provider

Redington : India, Srilanka, Bangladesh, Middle East, Africa, Turkey, CIS

SYNNEX Confidential

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Supply Chain Service Provider & Platform

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Sales/PM Service

• Mgmt. Service Platform

• Solution Sell

• Channel & Market Development

Logistics Service

Finance Service

• Warranty Service

• XaaS / Subscription

• Home/On-site Service

• Credit / Payment

• Warehouse Mgmt. Service

• Leasing / Installment

• Delivery Service

• Project Financing

Professional Service

• Consulting Service

• Technical & Installation Service

• Management Service

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Y23Q2 Performance

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Unit : NT$bn

$124

Performance – Consolidate

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: Historical High

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: Record High in Same Period

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Unit : NT$bn

Performance – Consolidate

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Y23Q2 : NT$94.9bn / YoY -8%

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$50.0 $46.0 $42.0 $38.0 $34.0 $30.0 $26.0 $22.0 $18.0

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: Historical High : Record High in Same Period

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Unit : NT$bn

Performance – By Product

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x% Y23Q2 Revenue Share

Unit : NT$bn

Performance Trend – By Product

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30% 31%
3% 36%
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: Historical High

: Record High in Same Period

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x% Y23Q2 Revenue Share

Unit : Local Currency

Performance Trend – By Country

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: Historical High : Record High in Same Period

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Unit : NT$mn

Consolidated Income Statement – Y23Q2&H1

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Y23Q2 YOY Y22Q2 Y23H1 YOY Y22H1
Revenue $ 94,950 -8% $ 103,353 $ 183,550 -10% $ 204,219
Gross profit 4,181 1% 4,130 8,457 1% 8,413
Gross profit% 4.40% 4.00% 4.61% 4.12%
Operating expenses (2,153) 0% (2,143) (4,365) 6% (4,131)
Operating expenses% 2.27% 2.07% 2.38% 2.02%
Operating income 2,027 2% 1,987 4,093 -4% 4,282
Operating income% 2.14% 1.92% 2.23% 2.10%
Others income/expense 668 1,044 998 1,992
JV Business Income * 380 -49% 739 730 -48% 1,410
Others 287 305 268 582
Pre-tax income & minority interest 2,695 -11% 3,030 5,091 -19% 6,273
Pre-tax income% 2.84% 2.93% 2.77% 3.07%
Income tax (887) (586) (1,446) (1,131)
Minority interest (income) loss (110) (66) (215) (219)
Net income $ 1,698 -29% $ 2,378 $ 3,430 -30% $ 4,923
Net income% 1.79% 2.30% 1.87% 2.41%
EPS (NT$) $ 1.02 $ 1.43 $ 2.06 $ 2.95
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• JV Business in Redington India, Synnex Thailand and Synnex FPT which were accounted under equity method.

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: Record Low in Same Period

: Historical High

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: Second High in Same Period

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Working Capital

Unit : NT$bn

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120.0 WC AR Inventories AP(net) Netdays AR days INV days AP days 120
100.0 100
80.0 80
60.0 60
40.0 40
20.0 20
0.0 0
Y21Q1 Y21Q2 Y21Q3 Y21Q4 Y22Q1 Y22Q2 Y22Q3 Y22Q4 Y23Q1 Y23Q2
Y21Q1 Y21Q2 Y21Q3 Y21Q4 Y22Q1 Y22Q2 Y22Q3 Y22Q4 Y23Q1 Y23Q2
WC 60.0 62.2 66.7 88.0 88.3 99.8 101.9 110.9 90.8 89.9
AR 59.2 64.9 68.2 85.5 73.4 76.1 75.1 79.2 70.6 73.8
Inventories 29.7 32.9 37.4 47.7 51.3 56.5 64.0 57.3 45.6 45.5
AP(net) 28.9 35.6 38.9 45.2 36.4 32.8 37.1 25.5 25.4 29.4
Netdays 67 60 61 55 81 85 87 90 104 85
AR days 66 59 59 55 70 64 64 65 76 68
INV days 33 30 32 31 46 50 52 51 56 46
AP days 32 29 30 32 35 29 29 26 28 29
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Unit : NT$bn

Inventory Trend

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Unit : NT$bn

Balance Sheet Key Index

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|||||
|---|---|---|---|
|Y23Q2|Y22Q4|Y22Q2|
|Debt Ratio|67%|66%|69%|
|Net Int. bearing Debt / Equity|86%|106%|104%|
|Net Worth Per Share (NT$)|38.5|43.5|36.2|

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Historical Performance

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EPS:

• 3yr average $8.23

• 5yr average $6.55

• 10yr average $4.78

• 15yr average $4.42

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Profitability Trend

Unit : NT$bn / %

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OPI/GP Ratio

- 3yr average 51% - 10yr average 41% Y23Q2 : 48%

Gross Margin

• 3yr average 4.34% - 10yr average 3.86% Y23Q2 : 4.40%

Operating Expense

• 3yr average 2.14% - 10yr average 2.25% Y23Q2 : 2.27%

Operating Income

• 3yr average 2.20% - 10yr average 1.61% Y23Q2 : 2.14%

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Environmental, Social & Governance

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Sustainalytics
ESG Risk
<20 ： Low Risk
13.0
12.5
12.4
11.5
11.4
Source: ESG IR platform
Dec-19 Sep-20 Apr-21 Feb-22 Mar-23
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Sustainable SYNNEX Cherish the Earth http://www.synnex-grp.com/en/esg-report

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Environmental, Social & Governance

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5.1%

Y22 vs.Y21 carbon emission (same boundary)

Sustainable SYNNEX Cherish the Earth http://www.synnex-grp.com/en/esg-report

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Group website http://www.synnex-grp.com/en ESG http://www.synnex-grp.com/en/esg-report

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