Flex to acquire EPC Power .2

Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "anticipate," "believe," "expect," "intend," "may," "plan," "project," "will," and similar expressions identify forward-looking statements. These forward-looking statements include, without limitation, statements regarding the acquisition of EPC Power Corp. (the "Transaction") and the separation of Flex Ltd.'s ("Flex") Cloud and Power Infrastructure business (the "Spin-Off") into an independent publicly traded company ("SpinCo"); the expected timing of the closing of the Transaction, the expected timing of the Spin-Off and the ability to complete each of the Transaction and the Spin-Off; the anticipated synergies and benefits of the Transaction and the Spin-Off, including enhanced strategic focus, financial flexibility and value creation for shareholders; the expected future performance of each of Flex and SpinCo, including the business of EPC Power Corp.; the impact of the Transaction on Flex's Cloud and Power Infrastructure business; the expected sources and structure of financing for the Transaction; and statements about business strategies, growth opportunities, market position and financial outlook for each of Flex and SpinCo. 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Additional information concerning risks relating to our business is described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Annual Report on Form 10-K and in our subsequent filings with the United States Securities and Exchange Commission (the "SEC"). All forward-looking statements are made as of the date hereof, and Flex assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Important Information and Where to Find It In connection with the proposed Spin-Off, Flex intends to file relevant materials with the SEC, including, among other filings, a proxy statement on Schedule 14A that will be mailed or otherwise disseminated to shareholders of Flex seeking their approval of the Spin-Off proposal. 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Information regarding Flex's directors and executive officers and their ownership of Flex ordinary shares is contained in Flex's proxy statement for its 2026 annual meeting of shareholders, which was filed with the SEC on June 24, 2026, including under the headings "Corporate Governance," "Fiscal Year 2026 Non-Employee Directors' Compensation," "Proposal No. 1: Re-election of Directors," "Proposal No. 3: Non-Binding, Advisory Resolution on Executive Compensation," "Compensation Discussion and Analysis," "Executive Compensation," "Information about our Executive Officers" and "Security Ownership of Certain Beneficial Owners and Management." 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Acquisition expands Flex’s power conversion capabilities for AI data center and grid applications Expands Flex’s Cloud & Power Infrastructure segment, adding grid-forming power conversion to its industry-leading power, cooling and compute portfolio Designed to simplify next-generation data center deployments by directly connecting 800 VDC loads to grid voltages and consolidating functions traditionally provided by UPS systems and AC power distribution Adds durable, margin-accretive growth backed by long-term demand visibility, strong customer relationships and scaled U.S. engineering and manufacturing Grid Interconnect Grid connection, controls, protection Compute Power, cooling, compute integration Facility Distribution Step-down, switchgear, monitoring, protection Rack Power Delivery & Conversion AC to DC, DC to DC, voltage stability and backup Centralized Power Conversion AC to DC, stage consolidation Grid & Power Stabilization Grid forming, grid support, load smoothing, storage and backup Expanded coverage from grid to chip for next generation 800 VDC architectures

Transaction overview $4.4B, subject to customary adjustments Purchase Price The company is evaluating various financing alternatives and expects to fund this transaction with a combination of debt and equity Financing and Leverage Timing and Execution EPC Power is expected to generate approximately $800M revenue in calendar 2026 Organic revenue growth of approximately 40% expected in 2027 EBITDA margin expanding by double-digit percentage points to approximately 30% in 2027 EPC Power Financials Transaction expected to close in the fourth quarter of calendar 2026, following customary regulatory approvals and closing conditions EPC Power to join the Cloud and Power Infrastructure segment Cloud and Power Infrastructure segment planned to separate into an independent public company in Q1 2027

Hardware Controls Software In-house hardware, software, and controls as an integrated, modular platform Scaled U.S. manufacturing with domestic supply that shortens lead times and benefits from U.S. policy Grid-forming capability responds in milliseconds to absorb AI load swings, on a platform that set the benchmark for grid-facing energy storage Delivers efficient 800 VDC data center architectures today with active digital rectifiers and a defined roadmap for solid-state transformers (SST) EPC Power broadens Flex’s platform with differentiated power conversion capabilities EPC Power business highlights A modular, high-density power solutions platform designed for advanced grid applications, storage, and AI data centers M System

EPC Power enables scalable 800 VDC architectures for AI data centers √ Advanced power management for data centers Provides clean 800 VDC power for modern GPUs with industry-leading system efficiency Flexible energy storage options for facility backup and smoothing of dynamic loads Provides grid support with advanced grid-forming capabilities, load smoothing and compliance with new and emerging grid codes for data centers larger than 75 MW Enables on-site generation with seamless integration of multiple sources including solar or fuel cells √ √ 800 VDC Ready Platform with SiC based inverters, active digital rectifiers and defined SST roadmap enabling the highest level of efficiency for AI data centers Simplifies the power architecture by combining transformers, backup power/UPS, protective devices and 800 VDC power conversion into one integrated system Modular Platform which can scale to 6 MW per system and provide redundancy

An integrated grid-to-chip portfolio, engineered for the next generation of power and compute Coverage from conversion to compute Positions Flex to lead the AI infrastructure technology shift across utility, power, cooling, and compute Generational shift in data center power architecture, EPC’s platform is designed to simplify data center deployment by directly connecting 800VDC loads to grid voltages and consolidating functions traditionally provided by equipment such as UPS systems and AC power distribution Creates portfolio synergies by adding energy storage, MW scale digital rectifiers, MV UPS, BESS, and SST capabilities, all complementary to our existing product portfolio Embedded power Power shelves Power supplies Power modules 800 VDC Sidecar Capacitive energy storage solutions (CESS) Vertical power delivery Critical power Utility control building Relay panel Medium voltage switchgear Prefabricated pods and skids Modular circuit monitoring systems (MCMS) Busway Low voltage switch gear Power distribution units (PDU) Remote power panels (RPP) Cloud Servers Storage Racks and enclosures Cooling Liquid-assisted air cooling Cold plates Direct-to-die cooling modules Rack manifold and quick disconnects Coolant distribution units (CDUs) End-to-end lifecycle services Component sourcing Logistics and fulfillment Repair and refurbishment Portfolio addition through EPC Power acquisition Power Conversion BESS Systems Agile Grid Forming Controls 800V MW scale digital rectifiers 34.5kV – 800 V SST Platform roadmap MV UPS

Key takeaways Expands Cloud & Power Infrastructure with grid-forming power conversion, energy storage, MW-scale digital rectifiers and SST technology for next-generation 800 VDC architectures Adds durable, margin-accretive growth backed by long-term demand visibility, strong customer relationships and scaled U.S. engineering and manufacturing Creates an industry-leading end-to-end power, compute and cooling portfolio, expanding content per megawatt as AI infrastructure shifts to integrated architectures