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January 2019 · PDF file customer experience management, marketing optimization, digital,...

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  • January 2019

    Investor Presentation

  • © 2018, SYNNEX Corporation

    Safe Harbor Statement

    Statements in this presentation regarding SYNNEX Corporation which are not historical facts may be 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. These forward-looking statements may be identified by

    terms such as believe, expect, may, will, provide, could and should and the negative of these terms or other similar expressions. These forward-looking

    statements include, but are not limited to, statements regarding our business strategy, our investments, our growth and growth opportunities, market

    forecasts regarding TAM and the technology solutions worldwide market, our comprehensive cloud strategy, market forecasts concerning worldwide cloud IT

    infrastructure revenue growth, market forecasts and opportunities for Concentrix beyond CRM, potential benefits of our acquisition of Convergys including

    future financial and operating results and synergies, our expectation to exceed $150 million of total cost synergies over a three-year period post-transaction

    integration with an accelerated pace of $75 million in the first year and non-GAAP EPS accretion, our adjusted ROIC, our total debt to adjusted EBITDA, our

    commitment to remain at or below historical leverage level of 2.5x, our acquisition execution and integration and generation of significant value, our growing

    and large TAM, our diversified revenue and profitability, our mix shift to higher margin technology platforms and services, Hyve Solutions and BPO Customer

    Care adjacent market growth, core organic growth beyond market growth in Technology Solutions and Concentrix-focused verticals, revenue growth and

    margin expansion, and our capital allocation top priorities of shareholder returns, investments in core business, strategic mergers and acquisitions, and

    investments in new markets. These are subject to risks and uncertainties that could cause actual results to differ materially from those discussed in the

    forward-looking statements. Please refer to the documents filed with the Securities and Exchange Commission, specifically our most recent Form 10-K and

    Form 10-Q, for information on risk factors that could cause actual results to differ materially from those discussed in these forward-looking statements.

    Statements included in this presentation are based upon information known to SYNNEX Corporation as of the date of presentation and SYNNEX Corporation

    assumes no obligation to update information contained in this presentation.

  • © 2018, SYNNEX Corporation

    Fortune

    200 Company Ranked #169

    in 2018

    126 Consecutive

    Profitable

    Quarters 4.7% Q4 FY18

    Non-GAAP

    Operating Margin(1)

    SYNNEX

    Top 3 Americas

    Distribution

    CONCENTRIX

    Top 2 Global CRM

    Business Services

    ~$20.1B

    2018

    Revenue

    SYNNEX Facts

    Proven results and recognition

    .

    (1) Non-GAAP measure. See the Appendix to this presentation for definitions

    of non-GAAP measures and reconciliation of such measures to GAAP. © 2018, SYNNEX Corporation

  • © 2018, SYNNEX Corporation© 2018, SYNNEX Corporation

    Passionate and Committed Management Team

    Deep bench with 70+ years of combined experience

    Dennis Polk President & CEO

    16+ years with company,

    joined in 2002

    Past roles at SYNNEX:

    COO, CFO, SVP Finance

    Marshall Witt CFO

    5+ years with company,

    joined in 2013

    Past roles:

    15-year tenure with FedEx

    Corporation, held

    progressive financial and

    operational roles

    Peter Larocque President,

    North America

    Technology Solutions

    35+ years with company,

    joined 1984

    Past roles at SYNNEX:

    President of U.S.

    Distribution, EVP of

    Distribution, SVP Sales and

    Marketing

    Chris Caldwell President, Concentrix

    14+ years with company,

    joined 2004

    Past roles at Concentrix:

    SVP & GM of Concentrix,

    VP Emerging Business and

    Global Business

    Development

  • © 2018, SYNNEX Corporation

    $7.7 $7.7 $8.6

    $10.4 $10.3 $10.8

    $13.8 $13.3

    $14.1

    $17.0

    $20.1

    2.0% 2.0%

    2.4% 2.5%

    2.6%

    2.4%

    2.9%

    3.1% 3.2%

    3.5% 3.6%

    -0.2%

    0.3%

    0.8%

    1.3%

    1.8%

    2.3%

    2.8%

    3.3%

    3.8%

    $0.5

    $5.5

    $10.5

    $15.5

    $20.5

    FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18

    Revenue ($B)

    Adj. OP%(1)

    Strong Track Record of Revenue and Profit Growth

    11% revenue CAGR (FY09-FY18)

    .

    (1) Non-GAAP measure. See the Appendix to this presentation for definitions of non-GAAP measures and reconciliation of such measures to GAAP.

  • © 2018, SYNNEX Corporation© 2018, SYNNEX Corporation

    Concentrix Global business services company

    Technology Solutions Distribution, logistics, and integrated solutions

    Locations:

    Americas, Japan, China

    Product Categories: IT systems, security, networking

    equipment, UCC, software, system

    components & integrated solutions,

    peripherals

    Cloud Strategy Servicing: SMB, mid-market, enterprise, hyperscale

    computing (Hyve Solutions)

    Locations: 40+ countries in 6 continents

    Priority Verticals: Healthcare, banking and financial,

    insurance, technology, automotive

    Solutions: Technology-infused, omni-channel

    customer experience management,

    marketing optimization, digital, consulting,

    analytics, back office solutions

    ~$17.6B 2018

    revenue

    30K+ tech products

    distributed

    25K+ resellers &

    retail customers

    400+ OEMs & partners

    ~$2.5B 2018

    revenue

    225K+ associates

    650+ clients

    70+ languages

    A Fortune 200 Global Business Process Services Company

  • SYNNEX Technology Solutions

  • © 2018, SYNNEX Corporation© 2018, SYNNEX Corporation

    Technology Solutions

    Growth and diversification through organic investments and acquisitions

    • Growth in changing environment

    • Investments aligned with market growth areas

    • Solid base for next step-up

    Multi-Faceted Corporate, Commercial, Consumer,

    Cloud, Services Value-Added Distributor

    New Age

    Electronics

    Japan

    Westcon-

    Comstor

    Cloud

    Solutions New

    Consumption

    Models

    (XaaS)

    ~$17.6B 2018

    Revenue

    ~$5B Revenue

    2005 TODAY

  • © 2018, SYNNEX Corporation© 2018, SYNNEX Corporation

    SMB

    29-35%

    Public Sector

    21-25%

    Consumer

    7-13%

    Enterprise

    30-38%

    Value-Add

    Design Services

    Assembly and Test

    Professional Services (UCC, Network, Security, Servers)

    Specialty

    Niche – Targeted Markets

    Partner Enablement (XaaS, SW, Wholesale, Strategic Procurement)

    Volume

    Supply Chain Efficiencies

    Tech Support

    Inventory Management

    Financing Program (Consumer, Commercial)

    Technology Solutions’

    Hybrid Structure Enables partners to leverage our range of

    solutions to grow their business

    • CSPs

    • DMRs

    • System

    Integrators

    • Resellers

    • VARs

    • MSPs

    ConsumerEnterprise, SMB, Public Sector

    • Retailers

    • Nationals

    • E-Commerce

    • Fashion

    • Military

    • Broadcast

  • © 2018, SYNNEX Corporation

    Best-in-Class Market Expertise

    Vendor

    Relationships

    Technologies

    End-Markets

    Served

    • 400+ enterprise, broadline, retail

    distribution vendors

    • Specialty linecard in security, UCC,

    networking

    • IT Systems

    • Security

    • Networking Equipment

    • UCC

    • System Components and

    Integrated Solutions

    • Peripherals

    • Software

    • SMBs

    • Retail

    • Public Sector

    • Federal

    • Enterprise

  • © 2018, SYNNEX Corporation

    (1) IDC Worldwide Black Book: 3rd Platform Edition, June 2018.

    (2) IDC Worldwide Unified Communications & Collaboration Forecast, 2018-2022.

    (3) IDC, March 2017.

    Peripherals(1)

    $74B Software(1)

    $478B

    IT Security(1)

    $38B

    Technology Solutions’ Worldwide Marketplace

    Network

    Equipment(1)

    $45B

    UCC(2)

    $36B

    IT Systems(3)

    $168B

    8% CAGR

    $120B

    $150B

    $0 $15 $30 $45 $60 $75 $90 $105 $120 $135 $150 $165

    2017

    2020

  • © 2018, SYNNEX Corporation

    Source: The NPD Group, Inc., U.S. B2B Distributor Tracking Service, based on dollar sales, May 2016- June 2018.

    Sales are adjusted for 5-wk Jan. 2018 vs. 4-wk Jan. 2017.

    2.0%

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