Sanmina Corp

Third Quarter Fiscal 2025 Financial Highlights Revenue $2.04 billion GAAP operating margin 4.7% GAAP diluted EPS $1.26 Non-GAAP (1) operating margin 5.7% Non-GAAP (1) diluted EPS $1.53 Additional Highlights Cash flow from operations $201 million Free cash flow (2) $168 million Share repurchases 0.2 million shares for $13 million Ending cash and cash equivalents $798 million (1) See Schedule 1 below for information regarding the items excluded from and our use of non-GAAP financial measures.

SEC original ↗Sanmina Corp — Earnings release (8-K exhibit)EX-99Jul 28, 2025

Financial Instruments Fair Value Measurements Fair Value of Financial Instruments The fair values of cash equivalents (represents 9 % of cash and cash equivalents), restricted cash, restricted cash equivalents, accounts receivable, accounts payable and short-term debt approximate carrying values due to the short-term duration of these instruments.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

Additionally, the fair value of variable rate long-term debt approximates carrying value as of June 27, 2026.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

Interest Rate Swaps The Company enters into forward interest rate swap agreements with independent counterparties to partially hedge the variability in cash flows due to changes in the Secured Overnight Financing Rate benchmark interest rate ( SOFR ) associated with anticipated variable rate borrowings.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

On July 29, 2025 , the Company entered into a credit agreement (the New Credit Facility ) that provided for senior secured credit facilities in an aggregate of $ 3.5 billion, consisting of a $ 1.5 billion revolving credit facility and a $ 2.0 billion senior secured term loan A facility ( Term Loan A ).

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

The New Credit Facility provides that loans under the Revolving Credit Facility and Term Loan A will bear interest at the Company s option, at either the SOFR or a base rate, in each case plus a spread determined based on the Company s total net leverage ratio with applicable margins ranging from 1.375 % to 2 % for term SOFR loans and from 0.375 % to 1 % for base rate loans.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

Sanmina has facilities strategically located in key regions throughout the world.

SEC original ↗Sanmina Corp — Earnings release (8-K exhibit)EX-99Jul 28, 2025

We use such non-GAAP measures in order to (1) make more meaningful period-to-period comparisons of the Company s operations, both internally and externally, (2) guide management in assessing the performance of the business, internally allocating resources and making decisions in furtherance of Company s strategic plan, (3) provide investors with a better understanding of how management plans and measures the business and (4) provide investors with a better understanding of our ongoing, core business.

SEC original ↗Sanmina Corp — Earnings release (8-K exhibit)EX-99Jul 28, 2025

The obligations under the New Credit Facility are secured by first-priority liens on substantially all of the assets of the Company and the subsidiary guarantors, subject to certain exceptions and thresholds.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

The estimate takes into account the geographic mix of expected pre-tax income (loss), expected total annual pre-tax income (loss), enacted changes in tax laws, implementation of tax planning strategies and possible outcomes of audits and other uncertain tax positions.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

Actual results could differ materially from those projected in these statements as a result of a number of factors, including adverse changes to the key markets we target significant uncertainties that can cause our future sales and net income to be variable, including uncertainties related to trade policy reliance on a small number of customers for a substantial portion of our sales risks arising from our international operations geopolitical uncertainty, and the other risk factors set forth in the Company's annual and quarterly reports filed with the Securities Exchange Commission.

SEC original ↗Sanmina Corp — Earnings release (8-K exhibit)EX-99Jul 28, 2025

Q4 FY25 Earnings Per Share Outlook* Q4 FY25 EPS Range Low High GAAP diluted earnings per share $ 1.21 $ 1.31 Stock compensation expense $ 0.31 $ 0.31 Non-GAAP diluted earnings per share $ 1.52 $ 1.62 * Due to uncertainty regarding the timing of recognition of restructuring, acquisition and integration expenses, impairment charges and other unusual or infrequent items, if any, that could be incurred during the fourth quarter of FY25, an estimate of such items is not included in the outlook for Q4 FY25 GAAP EPS.

SEC original ↗Sanmina Corp — Earnings release (8-K exhibit)EX-99Jul 28, 2025

Legal Proceedings 39 Item 1A.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

Commitments and Contingencies From time to time, the Company is a party to litigation, claims and other contingencies, including environmental, regulatory and employee matters and examinations and investigations by governmental agencies, which arise in the ordinary course of business.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

As of June 27, 2026 and September 27, 2025, the Company had estimated liabilities of $ 48 million and $ 39 million, respectively, for environmental matters, warranty, litigation and other contingencies (excluding reserves for uncertain tax positions), which the Company believes are adequate.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026

Legal Proceedings Environmental Matters The Company is subject to various federal, state, local and foreign laws and regulations and administrative orders concerning environmental protection, including those addressing the discharge of pollutants into the environment, the management and disposal of hazardous substances, the cleanup of contaminated sites, the materials used in products, and the recycling, treatment and disposal of hazardous waste.

SEC original ↗Sanmina Corp — 10-Q Quarterly report10-QJul 27, 2026