UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported): October 27, 2021

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 Schaffhausen

Switzerland

(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 following provisions (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 registered
Common 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 or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition

On October 27, 2021, TE Connectivity Ltd. (the “Company”) issued a press release reporting the Company’s fourth quarter and full year results for fiscal 2021. A copy 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 October 27, 2021 (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 October 27, 2021

99.2		Presentation - TE Connectivity Q4 2021 Earnings Call (October 27, 2021)

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 the undersigned hereunto duly authorized.



Date: October 27, 2021	TE CONNECTIVITY LTD.
	By: /s/ Heath A. Mitts
	Name: Heath A. Mitts
	Title: Executive Vice President and Chief Financial Officer

Exhibit 99.1



NEWS RELEASE	te.com

TE Connectivity announces fourth quarter and full year results for fiscal year 2021

Q4 earnings per share exceed expectations; full year results demonstrating market outperformance and strength and diversity of portfolio

SCHAFFHAUSEN, Switzerland – Oct. 27, 2021 – TE Connectivity Ltd. (NYSE: TEL) today reported results for the fourth quarter and fiscal year ended Sept. 24, 2021.

Fourth Quarter Highlights

●

Net sales were $3.8 billion, up approximately 17% versus prior year on a reported basis.

●

Operating margin expansion year over year with strong performance across all segments.

●

GAAP diluted earnings per share (EPS) from continuing operations were $2.40, and adjusted EPS were $1.69, an increase of 46% versus the prior year.

●

Cash flow from continuing operating activities was $774 million and free cash flow was $536 million.

●

Completed acquisition of ERNI Group AG (ERNI), a European connector manufacturer focused on factory automation markets.

Full Year Highlights

●

Net sales were $14.9 billion, up 23% from fiscal year 2020.

●

Operating margin expansion year over year, with increases across all segments.

●

GAAP EPS from continuing operations were $6.77 versus a loss of $0.78 in fiscal year 2020, and adjusted EPS were $6.51, versus $4.26 in fiscal year 2020.

●

Cash flow from continuing operating activities was $2.7 billion and free cash flow was $2.1 billion, with approximately $1.5 billion returned to shareholders and over $400 million deployed for acquisitions.

●

Company set new ESG commitment to decrease greenhouse gas emissions by over 40% on an absolute basis by 2030.

“We had a strong finish to fiscal 2021 with sales and adjusted earnings in the fourth quarter exceeding expectations despite broader global supply challenges,” said TE Connectivity CEO Terrence Curtin. “I am very pleased with our teams’ ongoing execution in a very dynamic backdrop. Our performance demonstrates the

strength and diversity of our portfolio, which is reflected in sales and earnings above pre-COVID levels. We will continue to benefit from our leadership positions in long-term technology trends of electric vehicles, data and cloud, factory automation and renewable investments, which are enabling us to grow above the markets we serve. We expect to deliver continued growth in both sales and earnings in the first quarter of fiscal 2022.”

First Quarter FY22 Outlook

For the first quarter of fiscal 2022, the company expects net sales of approximately $3.7 billion, reflecting an increase of 5% on a reported basis and 4% on an organic basis year over year. GAAP EPS from continuing operations is expected to be approximately $1.50 year over year, with adjusted EPS of approximately $1.60, up 9% year over year.

Information about TE Connectivity's use of non-GAAP financial measures is provided below. For reconciliations of these non-GAAP financial measures, see the attached tables.

Conference Call and Webcast

The 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-answer portion of the call, the dial-in number in the United States is (888) 330-3417, and for international callers, the dial-in number is (646) 960-0804.

●

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 Oct. 27, 2021.

About TE Connectivity

TE Connectivity Ltd. (NYSE: TEL) is a 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, enable advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With more than 85,000 employees, including over 8,000 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Twitter.

Non-GAAP Financial Measures

We present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financial 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 in accordance with GAAP. Management uses non-GAAP financial measures internally for planning and forecasting purposes and in its decision-making processes related to the operations of our company. We believe these measures provide meaningful information 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 measures that management uses in evaluating our operations. The primary limitation of these measures is that they exclude the financial impact of items that would otherwise either increase or decrease our reported results. This limitation is best addressed by using these non-GAAP financial measures in combination with the most directly comparable GAAP financial measures 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 financial measure) excluding the impact of foreign currency exchange rates, and acquisitions and divestitures that occurred in the preceding twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of our performance because it excludes items that are not completely under management’s control, such as the impact of changes in foreign currency exchange 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 operating margin, respectively, (the most comparable GAAP financial measures) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, and other income or charges, if any. We utilize these adjusted measures in combination with operating income (loss) and operating margin to assess segment level operating performance and to provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted Operating Income (Loss) is a significant component in our incentive compensation plans.

●Adjusted Other Income (Expense), Net – represents net other income (expense) (the most comparable GAAP financial measure) before special items including tax sharing income related to adjustments to prior period tax returns and other items, if any.

●Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any.

●Adjusted Income (Loss) from Continuing Operations – represents income (loss) from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, other income 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 most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is a significant 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 provided by continuing operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to identify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to 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 and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certain special items, including net payments related to pre-separation tax matters and cash paid (collected) pursuant to collateral requirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment. These items are 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 of Directors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non-discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow.

Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this release include statements addressing our future financial

condition and operating results, and the impact on our operations resulting from the coronavirus disease 2019 (“COVID-19”). Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of COVID-19 negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affecting demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation, including the effects of Swiss tax reform. In addition, the extent to which COVID-19 will impact our business and our financial results will depend on future developments, which are highly uncertain and cannot be predicted. Such developments may include the geographic spread of the virus, the severity of the virus, the duration of the outbreak, the impact on our suppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to the outbreak in jurisdictions in which we operate, and the possible impact on the global economy and local economies in which we operate. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 25, 2020 as 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 Vivanco

TE Connectivity

610-893-9756

[email protected]

Investor Relations:

Sujal Shah

TE Connectivity

610-893-9790

[email protected]

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)


	For the Quarters Ended				For the Years Ended
	September 24,		September 25,		September 24,		September 25,
	2021		2020		2021		2020

	(in millions, except per share data)
Net sales	$	3,818	$	3,261	$	14,923	$	12,172
Cost of sales		2,555		2,292		10,036		8,437
Gross margin		1,263		969		4,887		3,735
Selling, general, and administrative expenses		384		352		1,512		1,392
Research, development, and engineering expenses		173		148		677		613
Acquisition and integration costs		8		9		31		36
Restructuring and other charges, net		38		113		233		257
Impairment of goodwill		—		—		—		900
Operating income		660		347		2,434		537
Interest income		3		2		17		15
Interest expense		(14)		(12)		(56)		(48)
Other income (expense), net		(22)		—		(17)		20
Income from continuing operations before income taxes		627		337		2,378		524
Income tax (expense) benefit		167		(109)		(123)		(783)
Income (loss) from continuing operations		794		228		2,255		(259)
Income from discontinued operations, net of income taxes		—		2		6		18
Net income (loss)	$	794	$	230	$	2,261	$	(241)

Basic earnings (loss) per share:
Income (loss) from continuing operations	$	2.42	$	0.69	$	6.83	$	(0.78)
Income from discontinued operations		—		0.01		0.02		0.05
Net income (loss)		2.42		0.70		6.85		(0.73)

Diluted earnings (loss) per share:
Income (loss) from continuing operations	$	2.40	$	0.69	$	6.77	$	(0.78)
Income from discontinued operations		—		0.01		0.02		0.05
Net income (loss)		2.40		0.69		6.79		(0.73)

Weighted-average number of shares outstanding:
Basic		328		330		330		332
Diluted		331		332		333		332

TE CONNECTIVITY LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)


	September 24,		September 25,
	2021		2020

	(in millions, except share data)
Assets
Current assets:
Cash and cash equivalents	$	1,203	$	945
Accounts receivable, net of allowance for doubtful accounts of $41 and $29, respectively		2,928		2,377
Inventories		2,511		1,950
Prepaid expenses and other current assets		621		512
Total current assets		7,263		5,784
Property, plant, and equipment, net		3,778		3,650
Goodwill		5,590		5,224
Intangible assets, net		1,549		1,593
Deferred income taxes		2,499		2,178
Other assets		783		813
Total assets	$	21,462	$	19,242
Liabilities, redeemable noncontrolling interests, and shareholders' equity
Current liabilities:
Short-term debt	$	503	$	694
Accounts payable		1,911		1,276
Accrued and other current liabilities		2,242		1,720
Total current liabilities		4,656		3,690
Long-term debt		3,589		3,452
Long-term pension and postretirement liabilities		1,139		1,336
Deferred income taxes		181		143
Income taxes		302		252
Other liabilities		847		874
Total liabilities		10,714		9,747
Commitments and contingencies
Redeemable noncontrolling interests		114		112
Shareholders' equity:
Common shares, CHF 0.57 par value, 336,099,881 shares authorized and issued, and 338,953,381 shares authorized and issued, respectively		148		149
Accumulated earnings		11,709		10,348
Treasury shares, at cost, 9,060,919 and 8,295,878 shares, respectively		(1,055)		(669)
Accumulated other comprehensive loss		(168)		(445)
Total shareholders' equity		10,634		9,383
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$	21,462	$	19,242

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


	For the Quarters Ended				For the Years Ended
	September 24,		September 25,		September 24,		September 25,
	2021		2020		2021		2020

	(in millions)
Cash flows from operating activities:
Net income (loss)	$	794	$	230	$	2,261	$	(241)
Income from discontinued operations, net of income taxes		—		(2)		(6)		(18)
Income (loss) from continuing operations		794		228		2,255		(259)
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities:
Impairment of goodwill		—		—		—		900
Depreciation and amortization		179		181		769		711
Deferred income taxes		(292)		76		(354)		535
Non-cash lease cost		30		29		120		108
Provision for losses on accounts receivable and inventories		14		(14)		46		14
Share-based compensation expense		21		20		94		74
Other		(16)		14		(61)		54
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net		120		(245)		(518)		(63)
Inventories		(74)		253		(556)		(89)
Prepaid expenses and other current assets		(5)		24		(19)		51
Accounts payable		(86)		1		560		(80)
Accrued and other current liabilities		63		105		173		(99)
Income taxes		45		(29)		106		(9)
Other		(19)		76		61		143
Net cash provided by continuing operating activities		774		719		2,676		1,991
Net cash provided by discontinued operating activities		—		1		—		1
Net cash provided by operating activities		774		720		2,676		1,992
Cash flows from investing activities:
Capital expenditures		(236)		(121)		(690)		(560)
Proceeds from sale of property, plant, and equipment		1		11		86		17
Acquisition of businesses, net of cash acquired		(297)		(11)		(423)		(339)
Other		(8)		4		(10)		17
Net cash used in investing activities		(540)		(117)		(1,037)		(865)
Cash flows from financing activities:
Net decrease in commercial paper		—		—		—		(219)
Proceeds from issuance of debt		—		—		661		593
Repayment of debt		(2)		—		(708)		(352)
Proceeds from exercise of share options		37		26		167		55
Repurchase of common shares		(313)		—		(831)		(523)
Payment of common share dividends to shareholders		(164)		(159)		(647)		(625)
Transfers from discontinued operations		—		1		—		1
Other		(1)		(2)		(28)		(34)
Net cash used in continuing financing activities		(443)		(134)		(1,386)		(1,104)
Net cash used in discontinued financing activities		—		(1)		—		(1)
Net cash used in financing activities		(443)		(135)		(1,386)		(1,105)
Effect of currency translation on cash		(4)		3		5		(4)
Net increase (decrease) in cash, cash equivalents, and restricted cash		(213)		471		258		18
Cash, cash equivalents, and restricted cash at beginning of period		1,416		474		945		927
Cash, cash equivalents, and restricted cash at end of period	$	1,203	$	945	$	1,203	$	945

Supplemental cash flow information:
Interest paid on debt, net	$	18	$	19	$	58	$	50
Income taxes paid, net of refunds		80		62		371		257

TE CONNECTIVITY LTD.

RECONCILIATION OF FREE CASH FLOW (UNAUDITED)


	For the Quarters Ended				For the Years Ended
	September 24,		September 25,		September 24,		September 25,
	2021		2020		2021		2020

	(in millions)
Net cash provided by continuing operating activities	$	774	$	719	$	2,676	$	1,991
Excluding:
Cash (collected) paid pursuant to collateral requirements related to cross-currency swap contracts		(3)		39		9		34
Capital expenditures, net		(235)		(110)		(604)		(543)
Free cash flow ⁽¹⁾	$	536	$	648	$	2,081	$	1,482

⁽¹⁾Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

CONSOLIDATED SEGMENT DATA (UNAUDITED)


	For the Quarters Ended								For the Years Ended
	September 24,				September 25,				September 24,				September 25,
	2021				2020				2021				2020

	($ in millions)
	Net Sales				Net Sales				Net Sales				Net Sales
Transportation Solutions	$	2,198			$	1,865			$	8,974			$	6,845
Industrial Solutions		1,017				959				3,844				3,713
Communications Solutions		603				437				2,105				1,614
Total	$	3,818			$	3,261			$	14,923			$	12,172


	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income		Margin		Income		Margin		Income		Margin		Income (Loss)		Margin
Transportation Solutions	$	387	17.6	%	$	198	10.6	%	$	1,526	17.0	%	$	(93)	(1.4)	%
Industrial Solutions		134	13.2			85	8.9			469	12.2			412	11.1
Communications Solutions		139	23.1			64	14.6			439	20.9			218	13.5
Total	$	660	17.3	%	$	347	10.6	%	$	2,434	16.3	%	$	537	4.4	%


	Adjusted		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted
	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income ⁽¹⁾		Margin ⁽¹⁾		Income ⁽¹⁾		Margin ⁽¹⁾		Income ⁽¹⁾		Margin ⁽¹⁾		Income ⁽¹⁾		Margin ⁽¹⁾
Transportation Solutions	$	395	18.0	%	$	245	13.1	%	$	1,679	18.7	%	$	952	13.9	%
Industrial Solutions		162	15.9			133	13.9			557	14.5			522	14.1
Communications Solutions		149	24.7			95	21.7			465	22.1			260	16.1
Total	$	706	18.5	%	$	473	14.5	%	$	2,701	18.1	%	$	1,734	14.2	%

⁽¹⁾Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NET SALES GROWTH (DECLINE) (UNAUDITED)


	Change in Net Sales for the Quarter Ended September 24, 2021
	versus Net Sales for the Quarter Ended September 25, 2020
	Net Sales				Organic Net Sales						Acquisition/
	Growth (Decline)				Growth (Decline) ⁽¹⁾				Translation ⁽²⁾		(Divestitures)

	($ in millions)
Transportation Solutions ⁽³⁾:
Automotive	$	184	13.8	%	$	160	11.7	%	$	24	$	—
Commercial transportation		106	39.8			103	37.9			3		—
Sensors		43	16.3			38	15.4			5		—
Total		333	17.9			301	16.0			32		—
Industrial Solutions ⁽³⁾:
Industrial equipment		96	33.1			91	31.5			5		—
Aerospace, defense, oil, and gas		(51)	(16.5)			(57)	(18.1)			4		2
Energy		5	2.6			15	7.7			—		(10)
Medical		8	4.7			8	4.7			—		—
Total		58	6.0			57	6.2			9		(8)
Communications Solutions ⁽³⁾:
Data and devices		97	37.3			91	35.5			6		—
Appliances		69	39.0			65	35.7			4		—
Total		166	38.0			156	35.6			10		—
Total	$	557	17.1	%	$	514	15.8	%	$	51	$	(8)


	Change in Net Sales for the Year Ended September 24, 2021
	versus Net Sales for the Year Ended September 25, 2020
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (Decline) ⁽¹⁾				Translation ⁽²⁾		(Divestitures)

	($ in millions)
Transportation Solutions ⁽³⁾:
Automotive	$	1,476	30.1	%	$	1,243	25.0	%	$	233	$	—
Commercial transportation		416	39.6			377	35.2			39		—
Sensors		237	26.6			119	13.4			29		89
Total		2,129	31.1			1,739	25.1			301		89
Industrial Solutions ⁽³⁾:
Industrial equipment		299	27.2			253	22.7			46		—
Aerospace, defense, oil, and gas		(166)	(13.8)			(209)	(17.4)			25		18
Energy		21	2.9			30	4.1			20		(29)
Medical		(23)	(3.3)			(25)	(3.6)			2		—
Total		131	3.5			49	1.3			93		(11)
Communications Solutions ⁽³⁾:
Data and devices		225	23.1			199	20.5			26		—
Appliances		266	41.5			242	37.2			24		—
Total		491	30.4			441	27.2			50		—
Total	$	2,751	22.6	%	$	2,229	18.2	%	$	444	$	78

⁽¹⁾ Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures.
⁽²⁾ Represents the change in net sales resulting from changes in foreign currency exchange rates.
⁽³⁾ Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended September 24, 2021

(UNAUDITED)


				Adjustments
				Acquisition-		Restructuring
				Related		and Other						Adjusted
	U.S. GAAP			Charges ⁽¹⁾		Charges, Net⁽¹⁾		Other Items⁽¹⁾⁽²⁾		Tax Items⁽³⁾		(Non-GAAP) ⁽⁴⁾

	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	387		$	3	$	5	$	—	$	—	$	395
Industrial Solutions		134			4		24		—		—		162
Communications Solutions		139			1		9		—		—		149
Total	$	660		$	8	$	38	$	—	$	—	$	706

Operating margin		17.3	%										18.5	%

Other income (expense), net	$	(22)		$	—	$	—	$	28	$	—	$	6

Income tax (expense) benefit	$	167		$	(1)	$	3	$	(6)	$	(304)	$	(141)

Effective tax rate		(26.6)	%										20.1	%

Income from continuing operations	$	794		$	7	$	41	$	22	$	(304)	$	560

Diluted earnings per share from continuing operations	$	2.40		$	0.02	$	0.12	$	0.07	$	(0.92)	$	1.69

⁽¹⁾ 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 such jurisdiction.
⁽²⁾Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract.
⁽³⁾Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction.
⁽⁴⁾ See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended September 25, 2020

(UNAUDITED)


				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges ⁽¹⁾		Charges, Net⁽¹⁾		Tax Items ⁽²⁾		(Non-GAAP) ⁽³⁾

	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	198		$	11	$	36	$	—	$	245
Industrial Solutions		85			2		46		—		133
Communications Solutions		64			—		31		—		95
Total	$	347		$	13	$	113	$	—	$	473

Operating margin		10.6	%								14.5	%

Income tax expense	$	(109)		$	(4)	$	(21)	$	56	$	(78)

Effective tax rate		32.3	%								16.8	%

Income from continuing operations	$	228		$	9	$	92	$	56	$	385

Diluted earnings per share from continuing operations	$	0.69		$	0.03	$	0.28	$	0.17	$	1.16

⁽¹⁾ 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 such jurisdiction.
⁽²⁾ Income tax expense related to increases to the valuation allowance for certain deferred tax assets.
⁽³⁾ See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Year Ended September 24, 2021

(UNAUDITED)


				Adjustments
				Acquisition-		Restructuring
				Related		and Other						Adjusted
	U.S. GAAP			Charges ⁽¹⁾		Charges, Net⁽¹⁾		Other Items⁽¹⁾⁽²⁾		Tax Items⁽³⁾		(Non-GAAP) ⁽⁴⁾

	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,526		$	18	$	135	$	—	$	—	$	1,679
Industrial Solutions		469			15		73		—		—		557
Communications Solutions		439			1		25		—		—		465
Total	$	2,434		$	34	$	233	$	—	$	—	$	2,701

Operating margin		16.3	%										18.1	%

Other income (expense), net	$	(17)		$	—	$	—	$	28	$	—	$	11

Income tax expense	$	(123)		$	(7)	$	(35)	$	(6)	$	(333)	$	(504)

Effective tax rate		5.2	%										18.9	%

Income from continuing operations	$	2,255		$	27	$	198	$	22	$	(333)	$	2,169

Diluted earnings per share from continuing operations	$	6.77		$	0.08	$	0.59	$	0.07	$	(1.00)	$	6.51

⁽¹⁾ 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 such jurisdiction.
⁽²⁾Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract.
⁽³⁾ Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, $29 million of income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction.
⁽⁴⁾ See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Year Ended September 25, 2020

(UNAUDITED)


				Adjustments
				Acquisition-		Restructuring
				Related		and Other		Impairment				Adjusted
	U.S. GAAP			Charges ⁽¹⁾		Charges, Net⁽¹⁾		of Goodwill ⁽¹⁾		Tax Items⁽²⁾		(Non-GAAP) ⁽⁴⁾

	($ in millions, except per share data)
Operating income (loss):
Transportation Solutions	$	(93)		$	32	$	113	$	900	$	—	$	952
Industrial Solutions		412			8		102		—		—		522
Communications Solutions		218			—		42		—		—		260
Total	$	537		$	40	$	257	$	900	$	—	$	1,734

Operating margin		4.4	%										14.2	%

Other income, net	$	20		$	—	$	—	$	—	$	(8)	$	12

Income tax expense	$	(783)		$	(8)	$	(46)	$	(4)	$	550	$	(291)

Effective tax rate		149.4	%										17.0	%

Income (loss) from continuing operations	$	(259)		$	32	$	211	$	896	$	542	$	1,422

Diluted earnings (loss) per share from continuing operations ⁽³⁾	$	(0.78)		$	0.10	$	0.63	$	2.68	$	1.62	$	4.26

⁽¹⁾ 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 such jurisdiction.
⁽²⁾ Includes $355 million of income tax expense related to the tax impacts of certain measures of Swiss tax reform and $226 million of income tax expense related to increases to the valuation allowance for certain deferred tax assets, partially offset by a $31 million income tax benefit related to pre-separation tax matters and the termination of the tax sharing agreement with Tyco International and Covidien.
⁽³⁾ U.S. GAAP diluted shares excludes two million of nonvested share awards and options outstanding as the inclusion of these securities would have been antidilutive because of our loss during the period. Such amounts are included in adjusted (non-GAAP) diluted shares.
⁽⁴⁾ See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended December 25, 2020

(UNAUDITED)


				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges ⁽¹⁾		Charges, Net⁽¹⁾		Tax Items ⁽²⁾		(Non-GAAP) ⁽³⁾

	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	308		$	5	$	118	$	—	$	431
Industrial Solutions		76			4		38		—		118
Communications Solutions		64			—		11		—		75
Total	$	448		$	9	$	167	$	—	$	624

Operating margin		12.7	%								17.7	%

Other expense, net	$	(1)		$	—	$	—	$	—	$	(1)

Income tax expense	$	(60)		$	(2)	$	(32)	$	(29)	$	(123)

Effective tax rate		13.8	%								20.1	%

Income from continuing operations	$	375		$	7	$	135	$	(29)	$	488

Diluted earnings per share from continuing operations	$	1.13		$	0.02	$	0.41	$	(0.09)	$	1.47

⁽¹⁾ 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 such jurisdiction.
⁽²⁾ Income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets.
⁽³⁾ See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES

TO FORWARD-LOOKING GAAP FINANCIAL MEASURES

As of October 27, 2021

(UNAUDITED)


	Outlook for
	Quarter Ending
	December 24,
	2021
Diluted earnings per share from continuing operations	$	1.50
Restructuring and other charges, net		0.12
Acquisition-related charges		0.03
Tax items		(0.05)
Adjusted diluted earnings per share from continuing operations ⁽¹⁾	$	1.60


Net sales growth		5.0	%
Translation		0.6
(Acquisitions) divestitures, net		(1.5)
Organic net sales growth ⁽¹⁾		4.1	%

⁽¹⁾ See description of non-GAAP financial measures.

Exhibit 99.2

EVERY CONNECTION COUNTS TE Connectivity Fourth Quarter 2021 Earnings October 27, 2021

Forward-Looking Statements This presentation contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this presentation include statements addressing our future financial condition and operating results, and the impact on our operations resulting from the coronavirus disease 2019 (“COVID-19”). Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of COVID- 19 negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affecting demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation, including the effects of Swiss tax reform. In addition, the extent to which COVID-19 will impact our business and our financial results will depend on future developments, which are highly uncertain and cannot be predicted. Such developments may include the geographic spread of the virus, the severity of the virus, the duration of the outbreak, the impact on our suppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to the outbreak in jurisdictions in which we operate, and the possible impact on the global economy and local economies in which we operate. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 25, 2020 as 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. Non-GAAP Financial Measures Where we have used non-GAAP financial measures, reconciliations to the most comparable GAAP measure are provided, along with a disclosure on the usefulness of the non-GAAP financial measure, in this presentation. Forward-Looking Statements and Non-GAAP Financial Measures 2

Earnings Highlights Strong Q4 Sales & Adjusted EPS above expectations despite broader supply challenges • Sales of $3.8B, up 17% Y/Y; Adjusted EPS of $1.69, up 46% Y/Y • Strong order levels of $4.1B; book to bill of 1.08 • Adjusted Operating Margins of 18.5%, with strong operational performance in all segments • Generated Free Cash Flow of ~$535M; ~$475M returned to shareholders and ~$300M for M&A FY21 results demonstrate strong execution & strength and diversity of our portfolio • Sales of $14.9B, up 23% Y/Y, with benefits from secular trends across our business, including EV, data centers, & factory automation • Adjusted Operating Margins of 18.1%, up ~400bps Y/Y, with expansion in each segment • Adjusted EPS of $6.51, up over 50% Y/Y, driven by strong operational performance • Free Cash Flow ~$2.1B with ~100% conversion and 75% returned to shareholders & 20% for M&A • Continue to drive ESG initiatives while enabling sustainable applications for our customers Q1 Guidance • Expect sales of ~$3.7B, up 5% reported Y/Y and Adjusted EPS of ~$1.60, up 9% Y/Y • Expect continued strong performance despite auto production declines in Q1 Adjusted EPS, Adjusted Operating Margin , Free Cash Flow, and Free Cash Flow Conversion are non-GAAP financial measures; see Appendix for descriptions and reconciliations 3

Reported FY20 FY21 FY21 Q4 Growth Q4 Q3 Q4 Y/Y Q/Q Transportation 2,124 2,562 2,349 11% (8)% Industrial 799 1,218 1,140 43% (6)% Communications 425 755 647 52% (14)% Total TE 3,348 4,535 4,136 24% (9)% Book to Bill 1.03 1.18 1.08 Segment Orders Summary ($ in millions) 4 • Y/Y orders growth in all segments and regions • Book to bill remains strong in each segment • Order patterns as expected, with strong backlog position entering FY22 Strong Orders Growth Y/Y with 1.08 Book to Bill

Transportation Solutions $1,865 $2,198 Q4 2020 Q4 2021 • Automotive growth despite production declines. Continue to benefit from content trends of electronification and electric vehicle adoption • Commercial Transportation strong market outperformance with growth across all regions and market verticals • Sensors growth primarily driven by transportation applications, with new program ramps Y/Y Growth Rates Reported Organic Automotive $1,520 14% 12% Commercial Transportation 372 40% 38% Sensors 306 16% 15% Transportation Solutions $2,198 18% 16% Q4 Sales Q4 Business Performance Q4 Adjusted Operating Margin $ in Millions Reported Up 18% Organic Up 16% Margin expansion driven by higher volume and strong operational performance Adjusted EBITDA Margin 19.6% 23.2% 5 13.1% 18.0% Q4 2020 Q4 2021 Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non-GAAP financial measures: see Appendix for descriptions and reconciliations

Industrial Solutions $959 $1,017 Q4 2020 Q4 2021 Y/Y Growth Rates Reported Organic Industrial Equipment $386 33% 32% Aerospace, Defense and Marine 258 (17)% (18)% Energy 194 3% 8% Medical 179 5% 5% Industrial Solutions $1,017 6% 6% Margin expansion driven by strong operational performance 13.9% 15.9% Q4 2020 Q4 2021 Adjusted EBITDA Margin 18.6% 20.6% • Industrial Equipment double-digit growth in all regions, with continued benefits from increased capital investment in factory automation applications • AD&M decline driven by market weakness • Energy organic growth driven by momentum in renewable applications • Medical growth due to recovery in interventional procedures $ in Millions Q4 Sales Q4 Business Performance Q4 Adjusted Operating Margin Reported Up 6% Organic Up 6% 6 Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non-GAAP financial measures: see Appendix for descriptions and reconciliations

$437 $603 Q4 2020 Q4 2021 Reported Up 38% Organic Up 36% Y/Y Growth Rates Reported Organic Data & Devices $357 37% 36% Appliances 246 39% 36% Communications Solutions $603 38% 36% •Data & Devices performance continues to be driven by content growth and share gains in high-speed cloud applications • Appliances double-digit growth in all regions, with continued share gains 21.7% 24.7% Q4 2020 Q4 2021 Continued strong operational execution and higher volumes driving record margin performance Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non-GAAP financial measures: see Appendix for descriptions and reconciliations Communications Solutions Q4 Sales Q4 Adjusted Operating Margin Q4 Business Performance $ in Millions Adjusted EBITDA Margin 25.4% 27.5% 7

Q4 Financial Summary ($ in Millions, except per share amounts) Q4 FY20 Q4 FY21 Net Sales $ 3,261 $ 3,818 Operating Income $ 347 $ 660 Operating Margin 10.6% 17.3% Acquisition-Related Charges 13 8 Restructuring & Other Charges, Net 113 38 Adjusted Operating Income $ 473 $ 706 Adjusted Operating Margin 14.5% 18.5% Earnings Per Share* $ 0.69 $ 2.40 Acquisition-Related Charges 0.03 0.02 Restructuring & Other Charges, Net 0.28 0.12 Other Items - 0.07 Tax Items 0.17 (0.92) Adjusted EPS $ 1.16 $ 1.69 * Represents Diluted Earnings (Loss) Per Share from Continuing Operations. .. Adjusted Operating Income, Adjusted Operating Margin and Adjusted EPS are non-GAAP financial measures; see Appendix for descriptions and reconciliations. 8

Financial Performance Adjusted Operating Margin, Adjusted EPS, Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures: see Appendix for descriptions and reconciliations. Sales Adjusted Operating Margin Free Cash Flow Adjusted EPS Demonstrating the Strength and Diversity of Our Portfolio and Performance above Pre-Covid Levels on Strong Execution 9 $1,616 $1,482 $2,081 FY19 FY20 FY21 $ in Millions $ in Millions $13,448 $12,172 $14,923 FY19 FY20 FY21 $5.55 $4.26 $6.51 FY19 FY 20 FY 21 17.0% 14.2% 18.1% FY19 FY20 FY21 Adjusted EBITDA Margin 22.1% 20.1% 23.3% +23% vs FY20 +390bps vs FY20 +53% vs FY20 +40% vs FY20 ~100% conversion +11% vs FY19 +110bps vs FY19 +17% vs FY19

EVERY CONNECTION COUNTS Additional Information

Y/Y Q4 2021 Adjusted EPS is a non-GAAP financial measure; See Appendix for description and reconciliation. Sales (in millions) Adjusted EPS Q4 2020 Results $3,261 $1.16 Operational Performance 506 0.60 FX Impact 51 - Tax Rate Impact -(0.07) Q4 2021 Results $3,818 $1.69 11

Y/Y FY 2021 Adjusted EPS is a non-GAAP financial measure; See Appendix for description and reconciliation. Sales (in millions) Adjusted EPS 2020 Results $12,172 $4.26 Operational Performance 2,307 2.26 FX Impact 444 0.14 Tax Rate Impact -(0.15) 2021 Results $14,923 $6.51 12

Y/Y Q1 2022 Adjusted EPS is a non-GAAP financial measure; See Appendix for description and reconciliation. Sales (in millions) Adjusted EPS Q1 2021 Results $3,522 $1.47 Operational Performance 197 0.10 FX Impact (19) 0.01 Tax Rate Impact - 0.02 Q1 2022 Guidance $3,700 $1.60 13

($ in Millions) FY20 FY21 Beginning Cash Balance $927 $945 Free Cash Flow 1,482 2,081 Dividends (625) (647) Share repurchases (523) (831) Net increase (decrease) in debt 22 (47) Acquisition of businesses, net of cash acquired (339) (423) Other 1 125 Ending Cash Balance $945 $1,203 Total Debt $4,146 $4,092 A/R $2,377 $2,928 Days Sales Outstanding* 66 69 Inventory $1,950 $2,511 Days on Hand* 74 86 Accounts Payable $1,276 $1,911 Days Outstanding* 50 67 Free Cash Flow and Working Capital Liquidity, Cash and Debt ($ in Millions) FY20 FY21 Cash from Continuing Operating Activities $1,991 $2,676 Capital expenditures (560) (690) Proceeds from sales of property, plant and equipment 17 86 Cash paid pursuant to collateral requirements related to cross-currency swap contracts 34 9 Free Cash Flow $1,482 $2,081 Free Cash Flow is a non-GAAP financial measure, see Appendix for description and reconciliation * Calculated on a quarterly basis and adjusted to exclude the impact of acquisitions Balance Sheet & Cash Flow Summary 14

EVERY CONNECTION COUNTS Appendix

16 Non-GAAP Financial Measures We present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financial 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 in accordance with GAAP. Management uses non-GAAP financial measures internally for planning and forecasting purposes and in its decision-making processes related to the operations of our company. We believe these measures provide meaningful information 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 measures that management uses in evaluating our operations. The primary limitation of these measures is that they exclude the financial impact of items that would otherwise either increase or decrease our reported results. This limitation is best addressed by using these non-GAAP financial measures in combination with the most directly comparable GAAP financial measures 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 financial measure) excluding the impact of foreign currency exchange rates, and acquisitions and divestitures that occurred in the preceding twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of our performance because it excludes items that are not completely under management’s control, such as the impact of changes in foreign currency exchange 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 operating margin, respectively, (the most comparable GAAP financial measures) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, and other income or charges, if any. We utilize these adjusted measures in combination with operating income (loss) and operating margin to assess segment level operating performance and to provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted Operating Income (Loss) is a significant component in our incentive compensation plans. • Adjusted Other Income (Expense), Net – represents net other income (expense) (the most comparable GAAP financial measure) before special items including tax sharing income related to adjustments to prior period tax returns and other items, if any. • Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any. • Adjusted Income (Loss) from Continuing Operations – represents income (loss) from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, other income 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 most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is a significant component in our incentive compensation plans.

17 • Adjusted EBITDA and Adjusted EBITDA Margin - represent net income (loss) and net income (loss) as a percentage of net sales, respectively, (the most comparable GAAP financial measures) before interest expense, interest income, income taxes, depreciation, and amortization, as adjusted for net other income, income from discontinued operations, and special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, and other income or charges, if any. • Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash provided by continuing operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to identify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to 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 and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certain special items, including net payments related to pre-separation tax matters and cash paid (collected) pursuant to collateral requirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment. These items are 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 of Directors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non-discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow. • Free Cash Flow Conversion – represents the ratio of Free Cash Flow to Adjusted Income (Loss) from Continuing Operations. We use Free Cash Flow Conversion as an indicator of our ability to convert earnings to cash. Non-GAAP Financial Measures (cont.)

Segment Summary 18 Transportation Solutions $ 2,198 $ 1,865 $ 8,974 $ 6,845 Industrial Solutions 1,017 959 3,844 3,713 Communications Solutions 603 437 2,105 1,614 Total $ 3,818 $ 3,261 $ 14,923 $ 12,172 Transportation Solutions $ 387 17.6 % $ 198 10.6 % $ 1,526 17.0 % $ (93) (1.4) % Industrial Solutions 134 13.2 85 8.9 469 12.2 412 11.1 Communications Solutions 139 23.1 64 14.6 439 20.9 218 13.5 Total $ 660 17.3 % $ 347 10.6 % $ 2,434 16.3 % $ 537 4.4 % Transportation Solutions $ 395 18.0 % $ 245 13.1 % $ 1,679 18.7 % $ 952 13.9 % Industrial Solutions 162 15.9 133 13.9 557 14.5 522 14.1 Communications Solutions 149 24.7 95 21.7 465 22.1 260 16.1 Total $ 706 18.5 % $ 473 14.5 % $ 2,701 18.1 % $ 1,734 14.2 % 2021 For the Years Ended 2020 For the Quarters Ended September 24, September 25, September 24, September 25, Net Sales Operating Income (Loss) Operating Margin Net Sales Net Sales Net Sales Income (1) Adjusted Operating Income (1) Income Operating Operating Income Operating Income Adjusted Operating Margin (1) (1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures. 2021 2020 ($ in millions) Operating Margin (1) Adjusted Operating Margin (1) Adjusted Operating Income (1) Adjusted Operating Adjusted Operating Adjusted Operating Margin (1) Adjusted Income (1) Operating Margin Operating Margin Operating Margin

face="Arial" style="color:white;font-size:1.0pt;">Reconciliation of Net Sales Growth 13.8 % $ 160 11.7 % $ 24 $ — 39.8 103 37.9 3 — 16.3 38 15.4 5 — 16.0 32 — 33.1 91 31.5 5 — (16.5) (57) (18.1) 4 2 2.6 15 7.7 — (10) 4.7 8 4.7 — — 57 6.2 9 (8) 37.3 91 35.5 6 — 39.0 65 35.7 4 — 35.6 10 — 17.1 % $ 514 15.8 % $ 51 $ (8) 30.1 % $ 1,243 25.0 % $ 233 $ — 39.6 377 35.2 39 — 26.6 119 13.4 29 89 25.1 301 89 27.2 253 22.7 46 — (13.8) (209) (17.4) 25 18 2.9 30 4.1 20 (29) (3.3) (25) (3.6) 2 — 49 1.3 93 (11) 23.1 199 20.5 26 — 41.5 242 37.2 24 — 27.2 50 — % $ 2,229 18.2 % $ 444 $ 78 growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures. change in net sales resulting from changes in foreign currency exchange rates. information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary. for the Quarter Ended September 24, 2021 the Quarter Ended September 25, 2020 Sales Acquisitions/ (Decline) (1) Translation (2) (Divestitures) for the Year Ended September 24, 2021 the Year Ended September 25, 2020

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 24, 2021 20 Operating income: Transportation Solutions $ 387 $ 3 $ 5 $ — $ — $ 395 Industrial Solutions 134 4 24 — — 162 Communications Solutions 139 1 9 — — 149 Total $ 660 $ 8 $ 38 $ — $ — $ 706 Operating margin 17.3 % 18.5 % Other income (expense), net $ (22) $ — $ — $ 28 $ — $ 6 Income tax (expense) benefit $ 167 $ (1) $ 3 $ (6) $ (304) $ (141) Effective tax rate (26.6) % 20.1 % Income from continuing operations $ 794 $ 7 $ 41 $ 22 $ (304) $ 560 Diluted earnings per share from continuing operations $ 2.40 $ 0.02 $ 0.12 $ 0.07 $ (0.92) $ 1.69 (4) See description of non-GAAP financial measures. (1) 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 such jurisdiction. U.S. GAAP Charges (1) (Non-GAAP) (4) Charges, Net (1) Tax Items (3) ($ in millions, except per share data) Other Items (1)(2) (3) Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction. (2) Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract. Adjustments and Other Adjusted Related Acquisition- Restructuring

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 25, 2020 21 Operating income: Transportation Solutions $ 198 $ 11 $ 36 $ — $ 245 Industrial Solutions 85 2 46 — 133 Communications Solutions 64 — 31 — 95 Total $ 347 $ 13 $ 113 $ — $ 473 Operating margin 10.6 % 14.5 % Income tax expense $ (109) $ (4) $ (21) $ 56 $ (78) Effective tax rate 32.3 % 16.8 % Income from continuing operations $ 228 $ 9 $ 92 $ 56 $ 385 Diluted earnings per share from continuing operations $ 0.69 $ 0.03 $ 0.28 $ 0.17 $ 1.16 Adjustments Adjusted and Other Restructuring Acquisition- Related Charges (1) (3) See description of non-GAAP financial measures. (2) Income tax expense related to increases to the valuation allowance for certain deferred tax assets. (1) 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 such jurisdiction. U.S. GAAP (Non-GAAP) (3) ($ in millions, except per share data) Charges, Net (1) Tax Items (2)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 24, 2021 22 Operating income: Transportation Solutions $ 1,526 $ 18 $ 135 $ — $ — $ 1,679 Industrial Solutions 469 15 73 — — 557 Communications Solutions 439 1 25 — — 465 Total $ 2,434 $ 34 $ 233 $ — $ — $ 2,701 Operating margin 16.3 % 18.1 % Other income (expense), net $ (17) $ — $ — $ 28 $ — $ 11 Income tax expense $ (123) $ (7) $ (35) $ (6) $ (333) $ (504) Effective tax rate 5.2 % 18.9 % Income from continuing operations $ 2,255 $ 27 $ 198 $ 22 $ (333) $ 2,169 Diluted earnings per share from continuing operations $ 6.77 $ 0.08 $ 0.59 $ 0.07 $ (1.00) $ 6.51 Adjustments Acquisition- Restructuring Related and Other Adjusted U.S. GAAP Charges (1) Charges, Net (1) Tax Items (3) (Non-GAAP) (4) Other Items (1)(2) (4) See description of non-GAAP financial measures. ($ in millions, except per share data) (1) 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 such jurisdiction. (3) Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, $29 million of income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction. (2) Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 25, 2020 23 Operating income (loss): Transportation Solutions $ (93) $ 32 $ 113 $ 900 $ — $ 952 Industrial Solutions 412 8 102 — — 522 Communications Solutions 218 — 42 — — 260 Total $ 537 $ 40 $ 257 $ 900 $ — $ 1,734 Operating margin 4.4 % 14.2 % Other income, net $ 20 $ — $ — $ — $ (8) $ 12 Income tax expense $ (783) $ (8) $ (46) $ (4) $ 550 $ (291) Effective tax rate 149.4 % 17.0 % Income (loss) from continuing operations $ (259) $ 32 $ 211 $ 896 $ 542 $ 1,422 Diluted earnings (loss) per share from continuing operations (3) $ (0.78) $ 0.10 $ 0.63 $ 2.68 $ 1.62 $ 4.26 Adjustments Acquisition- Restructuring Related and Other Impairment Adjusted (1) 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 such jurisdiction. (2) Includes $355 million of income tax expense related to the tax impacts of certain measures of Swiss tax reform and $226 million of income tax expense related to increases to the valuation allowance for certain deferred tax assets, partially offset by a $31 million income tax benefit related to pre-separation tax matters and the termination of the tax sharing agreement with Tyco International and Covidien. U.S. GAAP (3) U.S. GAAP diluted shares excludes two million of nonvested share awards and options outstanding as the inclusion of these securities would have been antidilutive because of our loss during the period. Such amounts are included in adjusted (non-GAAP) diluted shares. (4) See description of non-GAAP financial measures. ($ in millions, except per share data) Charges (1) Charges, Net (1) of Goodwill (1) Tax Items (2) (Non-GAAP) (4)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended December 25, 2020 24 Operating income: Transportation Solutions $ 308 $ 5 $ 118 $ — $ 431 Industrial Solutions 76 4 38 — 118 Communications Solutions 64 — 11 — 75 Total $ 448 $ 9 $ 167 $ — $ 624 Operating margin 12.7 % 17.7 % Other expense, net $ (1) $ — $ — $ — $ (1) Income tax expense $ (60) $ (2) $ (32) $ (29) $ (123) Effective tax rate 13.8 % 20.1 % Income from continuing operations $ 375 $ 7 $ 135 $ (29) $ 488 Diluted earnings per share from continuing operations $ 1.13 $ 0.02 $ 0.41 $ (0.09) $ 1.47 Adjusted (Non-GAAP) (3) ($ in millions, except per share data) Tax Items (2) and Other Charges, Net (1) (3) See description of non-GAAP financial measures. U.S. GAAP Acquisition- Related Charges (1) Adjustments (1) 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 such jurisdiction. (2) Income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets. Restructuring

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 27, 2019 25 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 continuing operations $ 5.72 $ 0.11 $ 0.57 $ (0.86) $ 5.55 Adjustments Acquisition- Related Charges Restructuring and Other and Other Adjusted U.S. GAAP Items (1)(2) Charges, Net (1) Tax Items (3) (Non-GAAP) (4) ($ in millions, except per share data) (1) 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 such jurisdiction. (2) Includes acquisition-related charges of $30 million and a write-off of spare parts of $17 million. (3) 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 and intercompany transactions. (4) See description of non-GAAP financial measures.

Reconciliation of Free Cash Flow 26 Net cash provided by operating activities Net cash provided by continuing operating activities $ 774 $ 719 $ 2,676 $ 1,991 $ 2,454 Net cash provided by (used in) discontinued operating activities — 1 — 1 (32) 774 720 2,676 1,992 2,422 Net cash used in investing activities (540) (117) (1,037) (865) (692) Net cash used in financing activities (443) (135) (1,386) (1,105) (1,643) Effect of currency translation on cash (4) 3 5 (4) (8) Net increase (decrease) in cash, cash equivalents, and restricted cash $ (213) $ 471 $ 258 $ 18 $ 79 Net cash provided by continuing operating activities $ 774 $ 719 $ 2,676 $ 1,991 $ 2,454 Excluding: Cash (collected) paid pursuant to collateral requirements related to cross-currency swap contracts (3) 39 9 34 (132) Capital expenditures, net (235) (110) (604) (543) (706) Free cash flow (1) $ 536 $ 648 $ 2,081 $ 1,482 $ 1,616 For the Quarters Ended September 24, September 25, September 24, September 25, For the Years Ended (1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures. 2021 2020 2021 2020 (in millions) September 27, 2019

Free Cash Flow Conversion 27 Free cash flow (1) $ 2,081 Adjusted income from continuing operations (1) $ 2,169 Free cash flow conversion (1) 95.9 % For the Year Ended September 24, 2021 ($ in millions) (1) See description of non-GAAP financial measures.

Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin 28 Net income (loss) $ 794 $ 580 $ 230 $ 2,261 $ (241) $ 1,844 (Income) loss from discontinued operations — 1 (2) (6) (18) 102 Income tax expense (benefit) (167) 124 109 123 783 (15) Other (income) expense, net 22 (2) — 17 (20) (2) Interest expense 14 14 12 56 48 68 Interest income (3) (3) (2) (17) (15) (19) Operating income 660 714 347 2,434 537 1,978 Acquisition-related charges and other items 8 9 13 34 40 47 Restructuring and other charges, net 38 11 113 233 257 255 Impairment of goodwill — — — — 900 — Adjusted operating income (1) 706 734 473 2,701 1,734 2,280 Depreciation and amortization (2) 179 210 181 769 711 687 Adjusted EBITDA (1) $ 885 $ 944 $ 654 $ 3,470 $ 2,445 $ 2,967 Net sales $ 3,818 $ 3,845 $ 3,261 $ 14,923 $ 12,172 $ 13,448 Net income (loss) as a percentage of net sales 20.8 % 15.1 % 7.1 % 15.2 %(2.0) % 13.7 % Adjusted EBITDA margin (1) 23.2 % 24.6 % 20.1 % 23.3 % 20.1 % 22.1 % Operating income $ 387 $ 134 $ 139 $ 660 $ 198 $ 85 $ 64 $ 347 Acquisition-related charges 3 4 1 8 11 2 — 13 Restructuring and other charges, net 5 24 9 38 36 46 31 113 Adjusted operating income (1) 395 162 149 706 245 133 95 473 Depreciation and amortization 115 47 17 179 120 45 16 181 Adjusted EBITDA (1) $ 510 $ 209 $ 166 $ 885 $ 365 $ 178 $ 111 $ 654 Net sales $ 2,198 $ 1,017 $ 603 $ 3,818 $ 1,865 $ 959 $ 437 $ 3,261 Operating margin 17.6 % 13.2 % 23.1 % 17.3 % 10.6 % 8.9 % 14.6 % 10.6 % Adjusted operating margin (1) 18.0 % 15.9 % 24.7 % 18.5 % 13.1 % 13.9 % 21.7 % 14.5 % Adjusted EBITDA margin (1) 23.2 % 20.6 % 27.5 % 23.2 % 19.6 % 18.6 % 25.4 % 20.1 % (2) Excludes non-cash amortization associated with fair value adjustments related to acquired customer order backlog of $3 million for the year ended September 27, 2019 as these charges are included in the acquisition-related charges and other items line. Solutions Communications For the Quarters Ended September 24, 2021 September 25, 2020 September 24, 2021 2021 June 26, September 25, 2020 For the Quarters Ended September 25, For the Years Ended (1) See description of non-GAAP financial measures. Communications Solutions Total ($ in millions) Total Transportation Solutions Industrial Solutions September 24, 2021 ($ in millions) Solutions Solutions Transportation Industrial September 27, 2019 2020

Reconciliation of Forward-Looking Non-GAAP Financial Measures to Forward-Looking GAAP Financial Measures 29 Diluted earnings per share from continuing operations $ 1.50 Restructuring and other charges, net 0.12 Acquisition-related charges 0.03 Tax items (0.05) Adjusted diluted earnings per share from continuing operations (2) $ 1.60 Net sales growth 5.0 % Translation 0.6 (Acquisitions) divestitures, net (1.5) Organic net sales growth (2) 4.1 % Effective tax rate 13.2 % Effective tax rate adjustments (3) 5.8 Adjusted effective tax rate (2) 19.0 % (3) Includes adjustments for special tax items and the tax effect of acquisition-related charges and net restructuring and other charges, calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (1) Outlook is as of October 27, 2021. (2) See description of non-GAAP financial measures. 2021 (1) December 24, Outlook for Fiscal 2022 (1) Quarter Ending Outlook for