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Investor UpdateNovember 2020

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This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "estimate," "anticipate," "could" "predict" and similar expressions, and the negatives thereof, often identify forward-looking statements, which are not limited to historical facts. Forward-looking statements include, among other things, the estimated financial impact of the COVID-19 pandemic, the outlook and guidance for fourth quarter 2020 results, the company’s anticipated plans and responses to the COVID-19 pandemic, statements (express or implied) concerning future operating results or margins, the ability to generate sales and income or cash flow, and expected revenue mix; and Benchmark’s business and growth strategies. Although the company believes these statements are based upon reasonable assumptions, they involve risks and uncertainties relating to operations, markets and the business environment generally. These statements also depend on the duration and severity of the COVID-19 pandemic and related risks, including government and other third-party responses to it and the consequences for the global economy, our business and the businesses of our suppliers and customers. Events relating to or resulting from the COVID-19 pandemic, including the possibility of customer demand fluctuations, supply chain constraints, or the ability to utilize our manufacturing facilities at sufficient levels to cover our fixed operating costs, may have resulting impacts on the company’s business, financial condition, results of operations, and the company’s ability (or inability) to execute on its plans to respond to the COVID-19 pandemic. If one or more of these risks or uncertainties materializes, or underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Readers are advised to consult further disclosures on these risks and uncertainties, particularly in Part 1, Item 1A, "Risk Factors" of the company's Annual Report on Form 10-K for the year ended December 31, 2019 and in its subsequent filings with the Securities and Exchange Commission. All forward-looking statements included in this document are based upon information available to the company as of the date of this document, and it assumes no obligation to update them.

This document includes certain financial measures that exclude items and therefore are not in accordance with U.S. generally accepted accounting principles (“GAAP”). A detailed reconciliation between GAAP results and results excluding special items (“non-GAAP”) is included in the Appendix of this document. In situations where a non-GAAP reconciliation has not been provided, the company was unable to provide such a reconciliation without unreasonable effort due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. Management discloses non‐GAAP information to provide investors with additional information to analyze the Company’s performance and underlying trends. Management uses non‐GAAP measures that exclude certain items in order to better assess operating performance and help investors compare results with our previous guidance. This document also references “free cash flow”, which the Company defines as cash flow from operations less additions to property, plant and equipment and purchased software. The Company’s non‐GAAP information is not necessarily comparable to the non‐GAAP information used by other companies. Non‐GAAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as a measure of the Company’s profitability or liquidity. Readers should consider the types of events and transactions for which adjustments have been made.

Forward-Looking Statements Non-GAAP Financial Information

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Contents

• Benchmark Profile and Portfolio Strategy

• Selling the Full Breadth of Benchmark Capabilities

• Key Strategic Initiatives

• Why Benchmark?

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Who is Benchmark? Spinoff of a Medical OEM

Founded:

1979

Stock Symbol:

NYSE: BHE

Employees:

~12,000

Locations:

8 countries

Sales Mix*:

53% United States

47% International

*Based on 2019 Results

HQ – Tempe, AZ

Facility Opening

Jan. 2019

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Who is Benchmark? Leading Global Provider of Services & Solutions

SERVESSix Primary End Markets

BENEFITSFrom Four Secular Trends

EMPHASISOn Four Strategic Initiatives

FOCUSfor Value Creation

Medical

Aerospace & Defense

Semi-Cap

Industrial

High-End Computing

Telecommunications

Aging Population

Growing Defense Spending

Optimize Go-to-Market

Centralize G&A

Drive Operational Efficiencies

Accelerate Engineering & Solutions

Higher-Value Portfolio >75%

EPS Growth Faster than Revenue

Continued Focused Capital Allocation

Improving ROIC

High-Speed Bandwidth

Recovery in Semi-Cap Spending

Traditional MarketsHigher-Value Markets

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Rochester, MN

Suzhou, China

Brasov, Romania

Nashua, NH

Tijuana, MexicoMoorpark, CA

Concord, CA

Ayudhaya, ThailandKorat, Thailand

Huntsville, AL

Guadalajara, Mexico

Fremont, CA

Santa Ana, CA

Tempe, AZ

Penang, Malaysia

Product Design & Engineering

Technology Solutions

Electronics Manufacturing

Precision Technologies

Corporate Headquarters

Almelo, The Netherlands

>50% Capacity in the U.S.

Austin, TX

Arden Hills, MN

Winona, MN

Phoenix, AZ

Where is Benchmark? 25 Locations in 8 Countries (12,000 employees)

Engineering Services on 3 Continents

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How is the Industry Changing? Higher-value Markets and Services

EMS

Market Size

Computing Higher Value

Telco

Computing Higher Value

Telco Consumer

• Labor Arbitrage

1990

• Labor Arbitrage

• Supply Chain

• Global Scale

2000

• Labor Arbitrage

• Supply Chain

• Global Scale

• Design

2010

Value

Proposition

Computing Higher Value

Telco Consumer

~$500B (est.)

• Labor Arbitrage

• Supply Chain

• Global Scale

• Concept to Design

• Increase in Outsourcing in

Higher-value Markets

• Differentiated Technology

Solutions

2020

Source: New Venture Research, Benchmark Analysis

Computing Higher Value

Telco Consumer

Era of

Computing/Telco

Outsourcing

Emergence of

Consumer

Electronics

Growth in

Higher-Value

Outsourcing

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• Larger, more cyclical programs

• Manufacturing only – less engineering

Traditional Market Revenue ($M)

Higher-value Market Revenue ($M)

Portfolio Strategy: Continued Focus on Higher-value Markets

Divested Lower-margin Traditional$1,983

$1,384

$846$65668%

50%35% 29%

10.0%

30.0%

50.0%

70.0%

90.0%

110.0%

130.0%

150.0%

170.0%

190.0%

0

500

1,000

1,500

2,000

2007 2014 2017 2019 Target

$933

$1,413$1,608 $1,612

32% 50%65%

71%

10.0%

30.0%

50.0%

70.0%

90.0%

110.0%

130.0%

150.0%

170.0%

190.0%

0

500

1,000

1,500

2,000

2,500

3,000

2007 2014 2017 2019 Target

25%

75%

• High-mix/lower-volume skills

• Engineering-led engagements

• Higher value-added services and solutions

Acquired Higher-value Programs

• 2007 Gross Margins 6.8%

• 2019 Gross Margins 8.2%

Expanded Non-GAAP Gross Margins

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What are Benchmark’s Capabilities? Leading Global Provider of Services & Solutions

Design &

Engineering Services

Manufacturing

Services

Technology

Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Our Goal is to Sell the Full Breadth of Capabilities To Our Targeted Customers

Traditional

EMS

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Higher-value Sectors : Selling the Full Breadth of Capabilities

• Ruggedized Computing

• Ground Vehicles and Aircraft

• Munitions

• Secure Communications

• Jet Engine Components

2019

Revenue

Key

Subsectors

Customers

$432 million

SectorAerospace &

Defense (A&D)

• Imaging Products

• Monitoring Devices, Pumps

Infusion and Glucose

• In Vitro Diagnostics

• Medical Robotics

$448 million

Medical

• Front End Fab Processes:

‒ Lithography

‒ Deposition

‒ Etch & Annealing

• In-Chamber Wafer Processes

$278 million

Semi-cap

• Process Controls

• Ruggedized Transport

• Lidar Applications

• Robotics

• Oil & Gas

$454 million

Industrial

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Customer Case Study: Selling the Full Breadth of Capabilities

• Account Size $20M in annual revenue

• Gross Margin % Below corporate average

• Offerings Electronics Manufacturing & Test Dev. only

Original State:

Customer: One Large Multi-national A&D Customer

Utilized

• Account Size +$100M in potential annual revenue

• Gross Margin % Above corporate average

• Offerings Full breadth of capabilities

Current State:

Technology Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Engineering Services Manufacturing Services

Technology Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Engineering Services Manufacturing Services

IP Building

Block Design

RF

Components

Process/Test Development

Precision

Technologies

Electronics

Manufacturing

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Traditional Sectors : Focus on Complexity

• High-Performance Computing

• Secure Computing

• Data Center Storage

2019

Revenue

Key

Subsectors

Customers

$361 million

Sector Computing

• Satellite Communications

• Microwave Systems

• High-speed Optics

• Next Generation Telco – 5G

$295 million

Telco

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Key Strategic Initiatives

Change the relationship with our

customers; differentiate with

technology

Revenue at the right target

margin profile

Focus on the Customer

Be the best at what we do

Effective asset utilization and

margin expansion

Drive Enterprise Efficiencies

Invest in People, Process, and

Solutions

Revenue growth and margin

expansion

Growing our Business

Drive empowerment,

accountability, and ownership

High functioning teams in a

great workplace

Engage Talent and Shift Culture

© 2020 Benchmark Electronics, Inc.| 14

Capital Allocation Update

Dividends

► First dividend of $0.15 per share paid in April 2018

► Recurring quarterly dividend increased by 6.7% to $0.16 per share in January 2020

► Last dividend paid to shareholders as of September 30, 2020 on October 14, 2020

Share repurchases

► $212 million shares repurchased in 2018

► $122 million share repurchases completed in 2019

► Share repurchases of $19 million completed in Q1 2020

► Additional $150 million authorized in February 2020 leaving remaining authorization

at $210 million as of September 30, 2020

© 2020 Benchmark Electronics, Inc.| 15

Takeaways

Why Consider Benchmark?

► OEMs continue to drive outsourcing strategy – expanding market

► Strong market position in High Value Growth sectors

► Unique technology and solution capabilities (RF technology, Micro-e, Semi-cap)

► Value added capabilities increase gross margins

► New leadership focused on Operational Excellence

► Business model leverage with revenue growth

► Returning capital to shareholders through quarterly dividends and share buybacks

© 2020 Benchmark Electronics, Inc.| 16

Benchmark, the partner you choose When it matters.

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Appendix 1: GAAP to Non-GAAP Reconciliations

1 Equals line item immediately above divided by revenue (GAAP)