Form 8-K - Current report

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 30, 2024

TE CONNECTIVITY PLC

(Exact name of registrant as specified in its charter)


Ireland		98-1779916
(Jurisdiction of Incorporation)		(IRS Employer Identification Number)

001-33260

(Commission File Number)

Parkmore Business Park West,

Parkmore,

H91VN2T Ballybrit,

Galway, Ireland

(Address of Principal Executive Offices, including Zip Code)

+353 91 378 040

(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
Ordinary Shares, Par Value $0.01	TEL	New York Stock Exchange
0.00% Senior Notes due 2025*	TEL/25	New York Stock Exchange
0.00% Senior Notes due 2029*	TEL/29	New York Stock Exchange

*Issued by Tyco Electronics Group S.A., an indirect wholly-owned subsidiary of TE Connectivity plc

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 30, 2024, TE Connectivity plc (the “Company”) issued a press release reporting the Company’s fourth quarter and full year results for fiscal 2024. 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 30, 2024 (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 30, 2024

99.2		Presentation - TE Connectivity Q4 2024 Earnings Call (October 30, 2024)

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 30, 2024	TE CONNECTIVITY PLC
	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 fiscal 2024 results with full year records for operating margin, EPS and cash generation

Board of directors authorizes $2.5 billion increase in share repurchase program

GALWAY, Ireland – Oct. 30, 2024 – TE Connectivity plc (NYSE: TEL) today reported results for the fiscal fourth quarter and fiscal year ended Sept. 27, 2024.

Fourth Quarter Highlights

●

Net sales were above guidance at $4.1 billion, up 1% on a reported basis year over year and 2% organically.

●

GAAP diluted earnings per share (EPS) from continuing operations were $0.90, down 49% year over year, including a one-time tax-related impact of $0.78. Adjusted EPS exceeded guidance at an all-time record $1.95, up 10% year over year.

●

Operating margins were 16.0% and adjusted operating margins were a fourth quarter record at 18.6%, driven by strong operational performance.

●

Cash flow from operating activities was approximately $1 billion and free cash flow was $833 million, with $952 million returned to shareholders, continuing the company’s strong cash generation and disciplined deployment model.

Full Year Highlights

●

Net sales were $15.8 billion, with organic growth in the Communications and Transportation segments.

●

GAAP operating margin was 17.6% and adjusted operating margin was 18.9%, each a record, driven by strong operational performance.

●

Record GAAP EPS was $10.34 and adjusted EPS was $7.56, up 12%.

●

Generated record cash flow for the full year, including:

o

Cash flow from operating activities of approximately $3.5 billion.

o

Free cash flow of $2.8 billion.

●

Returned approximately $2.8 billion to shareholders and deployed approximately $340 million for a bolt-on acquisition.

Share Repurchase Authorization

●

The Company’s board of directors authorized a $2.5 billion increase in its share repurchase program.

“Our team finished the fiscal year strong, delivering quarterly sales that were above guidance and a record $1.95 adjusted EPS,” said TE Connectivity CEO Terrence Curtin. “For the full year, we set records in key areas including EPS, cash generation and operating margins, delivering on our commitment to expand margins in a dynamic market environment. Our Transportation segment expanded its adjusted operating margin to 20%, driven by strong operational performance and our leading global position in next generation automotive technologies. Our Industrial segment finished the year with growth in three out of four businesses. The Communications segment finished the year delivering growth and strong margin expansion, driven by accelerating momentum in artificial intelligence programs.

“Our teams will build on our momentum from 2024 and we expect first quarter sales and adjusted EPS to be up year over year. We will continue to capitalize on our operational strengths and innovations in long-term growth trends such as electrification and data connectivity in transportation, renewable energy and AI. In a reinforcement of our long-term value creation model, I’m pleased that our board authorized a $2.5 billion increase in our share repurchase program that will continue to benefit our owners.”

First Quarter FY25 Outlook

For the first quarter of fiscal 2025, the company expects net sales of approximately $3.9 billion. GAAP EPS from continuing operations is expected to be $1.64 and adjusted EPS is expected to be $1.88. First quarter guidance includes $0.04 of tax headwinds compared to the prior year.

Beginning in fiscal 2025, the company will have two reportable segments – Transportation Solutions and Industrial Solutions – resulting from a reorganization announced in the fourth quarter of fiscal 2024. The company will also provide recast financial information in an 8-K filing later this quarter.

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.

Any share repurchase by the company will be made in accordance with applicable securities laws in the open market or in private transactions. The repurchase program is subject to business and market conditions, and may be commenced, suspended or discontinued at any time or from time to time without prior notice.

Conference Call and Webcast

The company will hold a conference call for investors today beginning at 8:30 a.m. ET. The conference call may be accessed in the following ways:

●

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 (800) 715-9871 and for international callers, the dial-in number is (646) 307-1963

●

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. 30, 2024.

About TE Connectivity

TE Connectivity plc (NYSE: TEL) is a global industrial technology leader creating a safer, sustainable, productive, and connected future. Our broad range of connectivity and sensor solutions enable the distribution of power, signal and data to advance next-generation transportation, renewable energy, automated factories, data centers, medical technology and more. With more than 85,000 employees, including 8,000 engineers, working alongside customers in approximately 130 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat, Instagram and X (formerly Twitter).

Non-GAAP Financial Measures

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 and Adjusted Operating Margin – represent operating income 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 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 is a significant component in our incentive compensation plans.

•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 from Continuing Operations – represents income from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects.

•Adjusted Earnings Per Share – represents diluted earnings 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, 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 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 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 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. 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 business interruptions 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, including continuing military conflict in certain parts of the world; 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. In addition, our change of incorporation from Switzerland to Ireland is subject to risks, such as the risk that the anticipated advantages might not materialize, as well as the risks that the price of our stock could decline and our position on stock exchanges and indices could change, and Irish corporate governance and regulatory schemes could prove different or more challenging than currently expected. 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 29, 2023, 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:

Eric Mangan

TE Connectivity

908-783-6629

Eric.Mangan@te.com

Investor Relations:

Sujal Shah

TE Connectivity

610-893-9790

Sujal.Shah@te.com

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)


	For the Quarters Ended				For the Years Ended
	September 27,		September 29,		September 27,		September 29,
	2024		2023		2024		2023

	(in millions, except per share data)
Net sales	$	4,068	$	4,035	$	15,845	$	16,034
Cost of sales		2,685		2,750		10,389		10,979
Gross margin		1,383		1,285		5,456		5,055
Selling, general, and administrative expenses		433		412		1,732		1,670
Research, development, and engineering expenses		195		174		741		708
Acquisition and integration costs		5		7		21		33
Restructuring and other charges, net		99		57		166		340
Operating income		651		635		2,796		2,304
Interest income		26		21		87		60
Interest expense		(15)		(19)		(70)		(80)
Other expense, net		(5)		(3)		(16)		(16)
Income from continuing operations before income taxes		657		634		2,797		2,268
Income tax (expense) benefit		(381)		(81)		397		(364)
Income from continuing operations		276		553		3,194		1,904
Income (loss) from discontinued operations, net of income taxes		—		(1)		(1)		6
Net income	$	276	$	552	$	3,193	$	1,910

Basic earnings per share:
Income from continuing operations	$	0.91	$	1.77	$	10.40	$	6.04
Income (loss) from discontinued operations		—		—		—		0.02
Net income		0.91		1.76		10.40		6.06

Diluted earnings per share:
Income from continuing operations	$	0.90	$	1.75	$	10.34	$	6.01
Income (loss) from discontinued operations		—		—		—		0.02
Net income		0.90		1.75		10.33		6.03

Weighted-average number of shares outstanding:
Basic		303		313		307		315
Diluted		305		316		309		317

TE CONNECTIVITY LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)


	September 27,		September 29,
	2024		2023

	(in millions, except share data)
Assets
Current assets:
Cash and cash equivalents	$	1,319	$	1,661
Accounts receivable, net of allowance for doubtful accounts of $32 and $30, respectively		3,055		2,967
Inventories		2,517		2,552
Prepaid expenses and other current assets		740		712
Total current assets		7,631		7,892
Property, plant, and equipment, net		3,903		3,754
Goodwill		5,801		5,463
Intangible assets, net		1,174		1,175
Deferred income taxes		3,497		2,600
Other assets		848		828
Total assets	$	22,854	$	21,712
Liabilities, redeemable noncontrolling interests, and shareholders' equity
Current liabilities:
Short-term debt	$	871	$	682
Accounts payable		1,728		1,563
Accrued and other current liabilities		2,147		2,218
Total current liabilities		4,746		4,463
Long-term debt		3,332		3,529
Long-term pension and postretirement liabilities		810		728
Deferred income taxes		199		185
Income taxes		411		365
Other liabilities		870		787
Total liabilities		10,368		10,057
Commitments and contingencies
Redeemable noncontrolling interests		131		104
Shareholders' equity:
Common shares, CHF 0.57 par value, 316,574,781 shares authorized and issued, and 322,470,281 shares authorized and issued, respectively		139		142
Accumulated earnings		14,533		12,947
Treasury shares, at cost, 16,656,681 and 10,487,742 shares, respectively		(2,322)		(1,380)
Accumulated other comprehensive income (loss)		5		(158)
Total shareholders' equity		12,355		11,551
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$	22,854	$	21,712

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


	For the Quarters Ended				For the Years Ended
	September 27,		September 29,		September 27,		September 29,
	2024		2023		2024		2023

	(in millions)
Cash flows from operating activities:
Net income	$	276	$	552	$	3,193	$	1,910
(Income) loss from discontinued operations, net of income taxes		—		1		1		(6)
Income from continuing operations		276		553		3,194		1,904
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization		232		200		826		794
Deferred income taxes		401		44		(789)		(77)
Non-cash lease cost		34		23		134		129
Provision for losses on accounts receivable and inventories		(13)		(6)		57		76
Share-based compensation expense		27		28		127		123
Impairment of held for sale businesses		—		7		—		74
Other		18		16		71		101
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net		(216)		56		(134)		(146)
Inventories		97		278		(30)		(45)
Prepaid expenses and other current assets		13		47		25		17
Accounts payable		60		(69)		159		(1)
Accrued and other current liabilities		159		35		(165)		21
Income taxes		(111)		(34)		(83)		17
Other		65		(40)		85		145
Net cash provided by operating activities		1,042		1,138		3,477		3,132
Cash flows from investing activities:
Capital expenditures		(213)		(194)		(680)		(732)
Proceeds from sale of property, plant, and equipment		4		1		16		4
Acquisition of businesses, net of cash acquired		—		(2)		(339)		(110)
Proceeds from divestiture of businesses, net of cash retained by businesses sold		—		—		59		48
Other		3		—		(6)		22
Net cash used in investing activities		(206)		(195)		(950)		(768)
Cash flows from financing activities:
Net increase (decrease) in commercial paper		(54)		42		(75)		(40)
Proceeds from issuance of debt		348		—		348		499
Repayment of debt		(350)		—		(352)		(591)
Proceeds from exercise of share options		37		10		89		43
Repurchase of common shares		(761)		(271)		(2,062)		(945)
Payment of common share dividends to shareholders		(196)		(184)		(760)		(725)
Other		(18)		(4)		(57)		(34)
Net cash used in financing activities		(994)		(407)		(2,869)		(1,793)
Effect of currency translation on cash		8		(6)		—		2
Net increase (decrease) in cash, cash equivalents, and restricted cash		(150)		530		(342)		573
Cash, cash equivalents, and restricted cash at beginning of period		1,469		1,131		1,661		1,088
Cash, cash equivalents, and restricted cash at end of period	$	1,319	$	1,661	$	1,319	$	1,661

Supplemental cash flow information:
Interest paid on debt, net	$	26	$	27	$	64	$	75
Income taxes paid, net of refunds		91		71		475		425

TE CONNECTIVITY LTD.

RECONCILIATION OF FREE CASH FLOW (UNAUDITED)


	For the Quarters Ended				For the Years Ended
	September 27,		September 29,		September 27,		September 29,
	2024		2023		2024		2023

	(in millions)
Net cash provided by operating activities	$	1,042	$	1,138	$	3,477	$	3,132
Capital expenditures, net		(209)		(193)		(664)		(728)
Free cash flow ⁽¹⁾	$	833	$	945	$	2,813	$	2,404

⁽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 27,				September 29,				September 27,				September 29,
	2024				2023				2024				2023

	($ in millions)
	Net Sales				Net Sales				Net Sales				Net Sales
Transportation Solutions	$	2,311			$	2,413			$	9,398			$	9,588
Industrial Solutions		1,180				1,159				4,481				4,551
Communications Solutions		577				463				1,966				1,895
Total	$	4,068			$	4,035			$	15,845			$	16,034


	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income		Margin		Income		Margin		Income		Margin		Income		Margin
Transportation Solutions	$	404	17.5	%	$	411	17.0	%	$	1,847	19.7	%	$	1,451	15.1	%
Industrial Solutions		137	11.6			162	14.0			588	13.1			602	13.2
Communications Solutions		110	19.1			62	13.4			361	18.4			251	13.2
Total	$	651	16.0	%	$	635	15.7	%	$	2,796	17.6	%	$	2,304	14.4	%


	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	$	446	19.3	%	$	444	18.4	%	$	1,917	20.4	%	$	1,665	17.4	%
Industrial Solutions		184	15.6			184	15.9			683	15.2			713	15.7
Communications Solutions		125	21.7			71	15.3			387	19.7			299	15.8
Total	$	755	18.6	%	$	699	17.3	%	$	2,987	18.9	%	$	2,677	16.7	%

⁽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 27, 2024
	versus Net Sales for the Quarter Ended September 29, 2023
	Net Sales				Organic Net Sales						Acquisition/
	Growth (Decline)				Growth (Decline) ⁽¹⁾				Translation ⁽²⁾		(Divestiture)

	($ in millions)
Transportation Solutions ⁽³⁾:
Automotive	$	(56)	(3.2)	%	$	(10)	(0.5)	%	$	—	$	(46)
Commercial transportation		(16)	(4.3)			(13)	(3.8)			(3)		—
Sensors		(30)	(10.6)			(29)	(10.5)			(1)		—
Total		(102)	(4.2)			(52)	(2.2)			(4)		(46)
Industrial Solutions ⁽³⁾:
Industrial equipment		(42)	(10.8)			(81)	(20.4)			3		36
Aerospace, defense, and marine		44	13.6			44	13.6			—		—
Energy		23	10.0			31	13.7			(8)		—
Medical		(4)	(1.8)			(2)	(1.1)			(2)		—
Total		21	1.8			(8)	(0.6)			(7)		36
Communications Solutions ⁽³⁾:
Data and devices		100	34.1			101	34.5			(1)		—
Appliances		14	8.2			19	11.2			(5)		—
Total		114	24.6			120	26.0			(6)		—
Total	$	33	0.8	%	$	60	1.5	%	$	(17)	$	(10)


	Change in Net Sales for the Year Ended September 27, 2024
	versus Net Sales for the Year Ended September 29, 2023
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (Decline) ⁽¹⁾				Translation ⁽²⁾		(Divestitures)

	($ in millions)
Transportation Solutions ⁽³⁾:
Automotive	$	5	0.1	%	$	210	3.0	%	$	(46)	$	(159)
Commercial transportation		(69)	(4.5)			(62)	(4.1)			(7)		—
Sensors		(126)	(11.3)			(119)	(10.8)			(7)		—
Total		(190)	(2.0)			29	0.3			(60)		(159)
Industrial Solutions ⁽³⁾:
Industrial equipment		(321)	(18.8)			(425)	(24.9)			3		101
Aerospace, defense, and marine		166	14.1			181	15.4			3		(18)
Energy		36	4.1			43	4.9			(27)		20
Medical		49	6.3			51	6.5			(2)		—
Total		(70)	(1.5)			(150)	(3.3)			(23)		103
Communications Solutions ⁽³⁾:
Data and devices		112	9.6			118	10.2			(6)		—
Appliances		(41)	(5.6)			(27)	(3.7)			(14)		—
Total		71	3.7			91	4.8			(20)		—
Total	$	(189)	(1.2)	%	$	(30)	(0.2)	%	$	(103)	$	(56)

⁽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 27, 2024

(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	$	404		$	—	$	42	$	—	$	446
Industrial Solutions		137			4		43		—		184
Communications Solutions		110			1		14		—		125
Total	$	651		$	5	$	99	$	—	$	755

Operating margin		16.0	%								18.6	%

Income tax expense	$	(381)		$	(1)	$	(22)	$	238	$	(166)

Effective tax rate		58.0	%								21.8	%

Income from continuing operations	$	276		$	4	$	77	$	238	$	595

Diluted earnings per share from continuing operations	$	0.90		$	0.01	$	0.25	$	0.78	$	1.95

⁽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⁾ Represents income tax expense related to an increase in the valuation allowance for deferred tax assets of a Swiss subsidiary.
⁽³⁾ 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 29, 2023

(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	$	411		$	1	$	32	$	—	$	444
Industrial Solutions		162			6		16		—		184
Communications Solutions		62			—		9		—		71
Total	$	635		$	7	$	57	$	—	$	699

Operating margin		15.7	%								17.3	%

Income tax expense	$	(81)		$	(1)	$	(3)	$	(49)	$	(134)

Effective tax rate		12.8	%								19.2	%

Income from continuing operations	$	553		$	6	$	54	$	(49)	$	564

Diluted earnings per share from continuing operations	$	1.75		$	0.02	$	0.17	$	(0.16)	$	1.78

⁽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⁾ Represents income tax benefits associated with a decrease in the valuation allowance for certain tax loss and credit carryforwards.
⁽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 27, 2024

(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	$	1,847		$	—	$	67	$	3	$	1,917
Industrial Solutions		588			19		75		1		683
Communications Solutions		361			2		24		—		387
Total	$	2,796		$	21	$	166	$	4	$	2,987

Operating margin		17.6	%								18.9	%

Income tax (expense) benefit	$	397		$	(3)	$	(29)	$	(1,016)	$	(651)

Effective tax rate		(14.2)	%								21.8	%

Income from continuing operations	$	3,194		$	18	$	137	$	(1,012)	$	2,337

Diluted earnings per share from continuing operations	$	10.34		$	0.06	$	0.44	$	(3.28)	$	7.56

⁽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 a $636 million net income tax benefit associated with a $972 million ten-year tax credit obtained by a Swiss subsidiary reduced by a $336 million valuation allowance related to the amount of the tax credit not expected to be realized. Also includes a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland and a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes.
⁽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 29, 2023

(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	$	1,451		$	3	$	211	$	—	$	1,665
Industrial Solutions		602			27		84		—		713
Communications Solutions		251			3		45		—		299
Total	$	2,304		$	33	$	340	$	—	$	2,677

Operating margin		14.4	%								16.7	%

Income tax expense	$	(364)		$	(6)	$	(85)	$	(49)	$	(504)

Effective tax rate		16.0	%								19.1	%

Income from continuing operations	$	1,904		$	27	$	255	$	(49)	$	2,137

Diluted earnings per share from continuing operations	$	6.01		$	0.09	$	0.80	$	(0.15)	$	6.74

⁽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⁾ Represents income tax benefits associated with a decrease in the valuation allowance for certain tax loss and credit carryforwards.
⁽³⁾ 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 29, 2023

(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	$	478		$	—	$	14	$	3	$	495
Industrial Solutions		141			7		6		1		155
Communications Solutions		79			1		1		—		81
Total	$	698		$	8	$	21	$	4	$	731

Operating margin		18.2	%								19.1	%

Income tax (expense) benefit	$	1,105		$	(1)	$	(5)	$	(1,254)	$	(155)

Effective tax rate		(158.1)	%								21.2	%

Income from continuing operations	$	1,804		$	7	$	16	$	(1,250)	$	577

Diluted earnings per share from continuing operations	$	5.76		$	0.02	$	0.05	$	(3.99)	$	1.84

⁽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 an $874 million net income tax benefit associated with a ten-year tax credit obtained by a Swiss subsidiary and a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland. Also includes a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes.
⁽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 30, 2024

(UNAUDITED)


	Outlook for
	Quarter Ending
	December 27,
	2024
Diluted earnings per share from continuing operations	$	1.64
Restructuring and other charges, net		0.23
Acquisition-related charges		0.01
Adjusted diluted earnings per share from continuing operations ⁽¹⁾	$	1.88


Net sales growth		1.8	%
Translation		(0.8)
(Acquisitions) divestitures, net		(0.6)
Organic net sales growth ⁽¹⁾		0.4	%

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

Exhibit 99.2

EVERY CONNECTION COUNTS TE Connectivity Fourth Quarter 2024 Earnings October 30, 2024

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. 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 business interruption 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, including continuing military conflict in certain parts of the world; 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. In addition, our change of incorporation from Switzerland to Ireland is subject to risks, such as the risk that the anticipated advantages might not materialize, as well as the risks that the price of our stock could decline and our position on stock exchanges and indices could change, and Irish corporate governance and regulatory schemes could prove different or more challenging than currently expected. 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. 29, 2023 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

Q4 Results Exceeded Guidance ▪ Sales of $4.1B, up 1% reported and 2% on an organic basis Y/Y ▪ Adjusted Operating Margins of 18.6%, up 130bps Y/Y; record Adjusted EPS of $1.95, up 10% Y/Y ▪ Free Cash Flow generation of ~$830M in Q4 with ~$950M returned to shareholders Earnings Highlights 3 Organic Net Sales Growth (Decline), Adjusted Operating Margin, Adjusted EPS, Free Cash Flow, and Free Cash Flow Conversion are non-GAAP financial measures; see Appendix for descriptions and reconciliations Q1 FY25 Guidance ▪ Expect Sales of ~$3.9B, up 2% Y/Y ▪ Expect Adjusted EPS of ~$1.88, up 2% Y/Y, inclusive of a tax rate headwind of $0.04 ▪ Announced reorganization into two segments, Transportation Solutions & Industrial Solutions, beginning in FY25 ▪ Reinforcing our long-term value creation model, TE Board has authorized a $2.5B increase in our share repurchase program FY24 Record Results for Operating Margin, EPS, and Free Cash Flow ▪ Sales of $15.8B, with organic growth Y/Y in the Communications and Transportation segments ▪ Adjusted Operating Margins of 18.9% expanded 220bps Y/Y driven by strong operational performance ▪ Adjusted EPS of $7.56, up 12% Y/Y ▪ Free Cash Flow of ~$2.8B with 120% conversion; ~$2.8B returned to shareholders & ~$340M used for a bolt-on acquisition

Reported FY23 Q4 FY24 Q3 FY24 Q4 Q4 Growth Y/Y Q/Q Transportation 2,418 2,194 2,206 (9)% 1% Industrial 1,058 1,139 1,055 0% (7)% Communications 424 799 580 37% (27)% Total TE 3,900 4,132 3,841 (2)% (7)% Book to Bill 0.97 1.04 0.94 Segment Orders Summary ($ in millions) 4 ▪ Transportation sequential order patterns reflecting stability in global auto production with ongoing weakness in Commercial Transportation ▪ Industrial sequential decline reflects ongoing softness in industrial equipment end markets ▪ Communications orders as expected and supporting doubling of sales in Artificial Intelligence programs in FY25 Orders reflecting seasonality, ongoing momentum in AI programs, and softness in industrial equipment end markets

Transportation Solutions Q4 SALES Reported Down 4% Organic Down 2% Q4 ADJUSTED OPERATING MARGIN Strong execution in a dynamic market environment Adjusted EBITDA Margin 23.5% 26.0% 5 $2,413 $2,311 Q4 2023 Q4 2024 Q4 BUSINESS PERFORMANCE Y/Y Growth Rates Reported Organic Automotive $1,704 (3)% (1)% Commercial Transportation 353 (4)% (4)% Sensors 254 (11)% (11)% Transportation Solutions $2,311 (4)% (2)% $ in Millions 18.4% 19.3% Q4 2023 Q4 2024 ▪ Automotive Organic growth in Asia offset by softness in North America & Europe ▪ Commercial Transportation Organic decline driven by weakness in Europe ▪ Sensors Sales reduction driven by weakness in industrial applications and product exits Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations. Expanded adjusted operating margins by 300bps to 20% in FY24 driven by strong operational performance

Industrial Solutions Q4 SALES Reported Up 2% Organic Down 1% Q4 ADJUSTED OPERATING MARGIN Margins as expected at current volume levels and business mix Adjusted EBITDA Margin 20.5% 20.3% 6 Q4 BUSINESS PERFORMANCE Y/Y Growth Rates Reported Organic Industrial Equipment $346 (11)% (20)% Aerospace, Defense and Marine 367 14% 14% Energy 254 10% 14% Medical 213 (2)% (1)% Industrial Solutions $1,180 2% (1)% $ in Millions ▪ Industrial Equipment Decline driven by continued weakness in end markets ▪ AD&M Organic growth reflects ongoing market improvement in Commercial Aerospace and Defense ▪ Energy Organic growth driven by strength in the Americas and Europe; continue to see strong momentum in renewable applications ▪ Medical FY24 organic growth of 7% with some inventory normalization in Q4 $1,159 $1,180 Q4 2023 Q4 2024 15.9% 15.6% Q4 2023 Q4 2024 Growth in AD&M, Energy, and Medical in FY24 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 Reported Up 25% Organic Up 26% Q4 ADJUSTED OPERATING MARGIN 640 bps of margin expansion driven by higher volume and strong operational performance Adjusted EBITDA Margin 20.1% 25.6% 15.3% 21.7% Q4 2023 Q4 2024 7 $ in Millions ▪ Data & Devices Strong Y/Y growth driven by momentum in AI applications ▪ Appliances Organic growth driven by the Americas and Asia $463 $577 Q4 2023 Q4 2024 Q4 BUSINESS PERFORMANCE Y/Y Growth Rates Reported Organic Data & Devices $393 34% 35% Appliances 184 8% 11% Communications Solutions $577 25% 26% Strong growth driven by accelerating momentum in Artificial Intelligence programs Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations.

Q4 Financial Summary 8 ($ in Millions, except per share amounts) Q4 FY23 Q4 FY24 Net Sales $ 4,035 $ 4,068 Operating Income $ 635 $ 651 Operating Margin 15.7% 16.0% Acquisition-Related Charges 7 5 Restructuring & Other Charges, Net 57 99 Adjusted Operating Income $ 699 $ 755 Adjusted Operating Margin 17.3% 18.6% Earnings Per Share* $ 1.75 $ 0.90 Acquisition-Related Charges 0.02 0.01 Restructuring & Other Charges, Net 0.17 0.25 Tax Items (0.16) 0.78 Adjusted EPS $ 1.78 $ 1.95 Adjusted Effective Tax Rate 19.2% 21.8% *Represents Diluted Earnings Per Share from Continuing Operations Adjusted Operating Income, Adjusted Operating Margin, Adjusted Earnings Per Share, and Adjusted Effective Tax Rate are non-GAAP financial measures; see Appendix for descriptions and reconciliations.

Fiscal 2024 Financial Performance 9 16.7% 18.9% FY23 FY24 SALES ADJUSTED OPERATING MARGIN ADJUSTED EPS FREE CASH FLOW Delivered Record Results for Margin, EPS, and Free Cash Flow for the Full Year $ in Billions $ in Millions Up 17% Y/Y $2,404 $2,813 FY23 FY24 Up 12% Y/Y driven by margin $6.74 expansion $7.56 FY23 FY24 $16.0 $15.8 FY23 FY24 220bps of margin expansion Adjusted Operating Margin, Adjusted Earnings Per Share, Free Cash Flow, and Free Cash Flow Conversion are non-GAAP financial measures; see Appendix for descriptions and reconciliations. Organic sales flat Y/Y FCF conversion 112% 120%

EVERY CONNECTION COUNTS Additional Information

Y/Y Q4 2024 11 Sales (in millions) Adjusted EPS Q4 2023 Results $4,035 $1.78 Operational Performance 50 0.24 FX Impact (17) - Tax Rate Impact - (0.07) Q4 2024 Results $4,068 $1.95 Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.

Y/Y FY 2024 12 Sales (in millions) Adjusted EPS 2023 Results $16,034 $6.74 Operational Performance (86) 1.21 FX Impact (103) (0.13) Tax Rate Impact - (0.26) 2024 Results $15,845 $7.56 Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.

Y/Y Q1 2025 13 Sales (in millions) Adjusted EPS Q1 2024 Results $3,831 $1.84 Operational Performance 37 0.04 FX Impact 32 0.04 Tax Rate Impact - (0.04) Q1 2025 Guidance $3,900 $1.88 Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.

Balance Sheet and Cash Flow Summary 14 ($ in Millions) FY23 FY24 Beginning Cash Balance $1,088 $1,661 Free Cash Flow 2,404 2,813 Dividends (725) (760) Share repurchases (945) (2,062) Net decrease in debt (132) (79) Acquisition of businesses, net of cash Acquired (110) (339) Other 81 85 Ending Cash Balance $1,661 $1,319 Total Debt $4,211 $4,203 A/R $2,967 $3,055 Days Sales Outstanding* 67 68 Inventory $2,552 $2,517 Days on Hand* 81 82 Accounts Payable $1,563 $1,728 Days Outstanding* 52 58 Free Cash Flow and Working Capital Liquidity, Cash and Debt ($ in Millions) FY23 FY24 Cash from Operating Activities $3,132 $3,477 Capital expenditures, net (728) (664) Free Cash Flow $2,404 $2,813 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 and divestitures

EVERY CONNECTION COUNTS Appendix

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 and Adjusted Operating Margin – represent operating income 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 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 is a significant component in our incentive compensation plans. ▪ 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 from Continuing Operations – represents income from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. ▪ Adjusted Earnings Per Share – represents diluted earnings 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, 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. Non-GAAP Financial Measures 16

▪ Adjusted EBITDA and Adjusted EBITDA Margin – represent net income and net income 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 (expense), income (loss) 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 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 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 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 Free Cash Flow as a percentage of Adjusted Income 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.) 17

Segment Summary 18 Transportation Solutions $ 2,311 $ 2,413 $ 9,398 $ 9,588 Industrial Solutions 1,180 1,159 4,481 4,551 Communications Solutions 577 463 1,966 1,895 Total $ 4,068 $ 4,035 $ 15,845 $ 16,034 Operating Operating Operating Operating Margin Margin Margin Margin Transportation Solutions $ 404 17.5 % $ 411 17.0 % $ 1,847 19.7 % $ 1,451 15.1 % Industrial Solutions 137 11.6 162 14.0 588 13.1 602 13.2 Communications Solutions 110 19.1 6 2 13.4 361 18.4 251 13.2 Total $ 651 16.0 % $ 635 15.7 % $ 2,796 17.6 % $ 2,304 14.4 % Adjusted Adjusted Adjusted Adjusted Operating Operating Operating Operating Margin (1) Margin (1) Margin (1) Margin (1) Transportation Solutions $ 446 19.3 % $ 444 18.4 % $ 1,917 20.4 % $ 1,665 17.4 % Industrial Solutions 184 15.6 184 15.9 683 15.2 713 15.7 Communications Solutions 125 21.7 7 1 15.3 387 19.7 299 15.8 Total $ 755 18.6 % $ 699 17.3 % $ 2,987 18.9 % $ 2,677 16.7 % (1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures. 2024 2023 ($ in millions) Adjusted Operating Income (1) Adjusted Operating Adjusted Operating Income (1) Net Sales Net Sales Net Sales Income (1) Adjusted Operating Income (1) Income Operating Operating Income Operating Income Net Sales Operating Income 2024 2023 For the Quarters Ended September 27, September 29, September 27, September 29, For the Years Ended

Reconciliation of Net Sales Growth 19 Transportation Solutions (3) : Automotive $ (56) (3.2) % $ (10) (0.5) % $ — $ (46) Commercial transportation (16) (4.3) (13) (3.8) (3) — Sensors (30) (10.6) (29) (10.5) (1) — Total (102) (4.2) (52) (2.2) (4) (46) Industrial Solutions (3) : Industrial equipment (42) (10.8) (81) (20.4) 3 3 6 Aerospace, defense, and marine 4 4 13.6 4 4 13.6 — — Energy 2 3 10.0 3 1 13.7 (8) — Medical (4) (1.8) (2) (1.1) (2) — Total 2 1 1.8 (8) (0.6) (7) 3 6 Communications Solutions (3) : Data and devices 100 34.1 101 34.5 (1) — Appliances 1 4 8.2 1 9 11.2 (5) — Total 114 24.6 120 26.0 (6) — Total $ 3 3 0.8 % $ 6 0 1.5 % $ (17) $ (10) ($ in millions) Translation (2) Acquisition/ (Divestiture) Net Sales Growth (Decline) Organic Net Sales Growth (Decline) (1) Change in Net Sales for the Quarter Ended September 27, 2024 versus Net Sales for the Quarter Ended September 29, 2023 Transportation Solutions (3) : Automotive $ 5 0.1 % $ 210 3.0 % $ (46) $ (159) Commercial transportation (69) (4.5) (62) (4.1) (7) — Sensors (126) (11.3) (119) (10.8) (7) — Total (190) (2.0) 2 9 0.3 (60) (159) Industrial Solutions (3) : Industrial equipment (321) (18.8) (425) (24.9) 3 101 Aerospace, defense, and marine 166 14.1 181 15.4 3 (18) Energy 3 6 4.1 4 3 4.9 (27) 2 0 Medical 4 9 6.3 5 1 6.5 (2) — Total (70) (1.5) (150) (3.3) (23) 103 Communications Solutions (3) : Data and devices 112 9.6 118 10.2 (6) — Appliances (41) (5.6) (27) (3.7) (14) — Total 7 1 3.7 9 1 4.8 (20) — Total $ (189) (1.2) % $ (30) (0.2) % $ (103) $ (56) (3) Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary. ($ in millions) Net Sales Organic Net Sales Acquisitions/ Growth (Decline) Growth (Decline) (1) (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. Translation (2) (Divestitures) Change in Net Sales for the Year Ended September 27, 2024 versus Net Sales for the Year Ended September 29, 2023

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 27, 2024 20 Operating income: Transportation Solutions $ 404 $ — $ 42 $ — $ 446 Industrial Solutions 137 4 43 — 184 Communications Solutions 110 1 14 — 125 Total $ 651 $ 5 $ 99 $ — $ 755 Operating margin 16.0 % 18.6 % Income tax expense $ (381) $ (1) $ (22) $ 238 $ (166) Effective tax rate 58.0 % 21.8 % Income from continuing operations $ 276 $ 4 $ 77 $ 238 $ 595 Diluted earnings per share from continuing operations $ 0.90 $ 0.01 $ 0.25 $ 0.78 $ 1.95 Related and O ther Adjusted Acquisition- Restructuring Adjustments (3) 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) (3) Charges, Net (1) ($ in millions, except per share data) Tax Items (2) (2) Represents income tax expense related to an increase in the valuation allowance for deferred tax assets of a Swiss subsidiary.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 29, 2023 21 Operating income: Transportation Solutions $ 411 $ 1 $ 3 2 $ — $ 444 Industrial Solutions 162 6 1 6 — 184 Communications Solutions 6 2 — 9 — 7 1 Total $ 635 $ 7 $ 5 7 $ — $ 699 Operating margin 15.7 % 17.3 % Income tax expense $ (81) $ (1) $ (3) $ (49) $ (134) Effective tax rate 12.8 % 19.2 % Income from continuing operations $ 553 $ 6 $ 5 4 $ (49) $ 564 Diluted earnings per share from continuing operations $ 1.75 $ 0.02 $ 0.17 $ (0.16) $ 1.78 ($ 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) See description of non-GAAP financial measures. U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (3) Tax Items (2) (2) Represents income tax benefits associated with a decrease in the valuation allowance for certain tax loss and credit carryforwards. Related and Other Adjusted Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 27, 2024 22 Operating income: Transportation Solutions $ 1,847 $ — $ 67 $ 3 $ 1,917 Industrial Solutions 588 19 75 1 683 Communications Solutions 361 2 24 — 387 Total $ 2,796 $ 21 $ 166 $ 4 $ 2,987 Operating margin 17.6 % 18.9 % Income tax (expense) benefit $ 397 $ (3) $ (29) $ (1,016) $ (651) Effective tax rate (14.2) % 21.8 % Income from continuing operations $ 3,194 $ 18 $ 137 $ (1,012) $ 2,337 Diluted earnings per share from continuing operations $ 10.34 $ 0.06 $ 0.44 $ (3.28) $ 7.56 (3) See description of non-GAAP financial measures. ($ in millions, except per share data) Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (3) Tax Items (2) (2) Includes a $636 million net income tax benefit associated with a $972 million ten-year tax credit obtained by a Swiss subsidiary reduced by a $336 million valuation allowance related to the amount of the tax credit not expected to be realized. Also includes a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland and a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes. (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. Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 29, 2023 23 Operating income: Transportation Solutions $ 1,451 $ 3 $ 211 $ — $ 1,665 Industrial Solutions 602 2 7 8 4 — 713 Communications Solutions 251 3 4 5 — 299 Total $ 2,304 $ 3 3 $ 340 $ — $ 2,677 Operating margin 14.4 % 16.7 % Income tax expense $ (364) $ (6) $ (85) $ (49) $ (504) Effective tax rate 16.0 % 19.1 % Income from continuing operations $ 1,904 $ 2 7 $ 255 $ (49) $ 2,137 Diluted earnings per share from continuing operations $ 6.01 $ 0.09 $ 0.80 $ (0.15) $ 6.74 (3) See description of non-GAAP financial measures. Related and Other Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (3) (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. Tax Items (2) (2) Represents income tax benefits associated with a decrease in the valuation allowance for certain tax loss and credit carryforwards. ($ in millions, except per share data) Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended December 29, 2023 24 Operating income: Transportation Solutions $ 478 $ — $ 1 4 $ 3 $ 495 Industrial Solutions 141 7 6 1 155 Communications Solutions 7 9 1 1 — 8 1 Total $ 698 $ 8 $ 2 1 $ 4 $ 731 Operating margin 18.2 % 19.1 % Income tax (expense) benefit $ 1,105 $ (1) $ (5) $ (1,254) $ (155) Effective tax rate (158.1) % 21.2 % Income from continuing operations $ 1,804 $ 7 $ 1 6 $ (1,250) $ 577 Diluted earnings per share from continuing operations $ 5.76 $ 0.02 $ 0.05 $ (3.99) $ 1.84 ($ 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) See description of non-GAAP financial measures. Related and Other Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (3) Tax Items (2) (2) Includes an $874 million net income tax benefit associated with a ten-year tax credit obtained by a Swiss subsidiary and a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland. Also includes a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes. Acquisition- Restructuring Adjustments

Reconciliation of Free Cash Flow 25 Net cash provided by operating activities $ 1,042 $ 1,138 $ 3,477 $ 3,132 Net cash used in investing activities (206) (195) (950) (768) Net cash used in financing activities (994) (407) (2,869) (1,793) Effect of currency translation on cash 8 (6) — 2 Net increase (decrease) in cash, cash equivalents, and restricted cash $ (150) $ 530 $ (342) $ 573 Net cash provided by operating activities $ 1,042 $ 1,138 $ 3,477 $ 3,132 Capital expenditures, net (209) (193) (664) (728) Free cash flow (1) $ 833 $ 945 $ 2,813 $ 2,404 (1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures. 2024 2023 2024 2023 (in millions) For the Quarters Ended September 27, September 29, September 27, September 29, For the Years Ended

Free Cash Flow Conversion 26 Free cash flow (1) $ 2,813 $ 2,404 Adjusted income from continuing operations (1) $ 2,337 $ 2,137 Free cash flow conversion (1) 120.4 % 112.5 % (1) See description of non-GAAP financial measures. For the Years Ended September 27, September 29, 2024 2023 ($ in millions)

Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin 27 Net income $ 276 $ 552 Loss from discontinued operations — 1 Income tax expense 381 8 1 Other expense, net 5 3 Interest expense 1 5 1 9 Interest income (26) (21) Operating income 651 635 Acquisition-related charges 5 7 Restructuring and other charges, net 9 9 5 7 Adjusted operating income (1) 755 699 Depreciation and amortization 232 200 Adjusted EBITDA (1) $ 987 $ 899 Net sales $ 4,068 $ 4,035 Net income as a percentage of net sales 6.8 % 13.7 % Adjusted EBITDA margin (1) 24.3 % 22.3 % Operating income $ 404 $ 137 $ 110 $ 651 $ 411 $ 162 $ 6 2 $ 635 Acquisition-related charges — 4 1 5 1 6 — 7 Restructuring and other charges, net 4 2 4 3 1 4 9 9 3 2 1 6 9 5 7 Adjusted operating income (1) 446 184 125 755 444 184 7 1 699 Depreciation and amortization 154 5 5 2 3 232 124 5 4 2 2 200 Adjusted EBITDA (1) $ 600 $ 239 $ 148 $ 987 $ 568 $ 238 $ 9 3 $ 899 Net sales $ 2,311 $ 1,180 $ 577 $ 4,068 $ 2,413 $ 1,159 $ 463 $ 4,035 Operating margin 17.5 % 11.6 % 19.1 % 16.0 % 17.0 % 14.0 % 13.4 % 15.7 % Adjusted operating margin (1) 19.3 % 15.6 % 21.7 % 18.6 % 18.4 % 15.9 % 15.3 % 17.3 % Adjusted EBITDA margin (1) 26.0 % 20.3 % 25.6 % 24.3 % 23.5 % 20.5 % 20.1 % 22.3 % (1) See description of non-GAAP financial measures. ($ in millions) Transportation Industrial Communications Solutions Solutions Solutions Total Solutions Solutions Solutions Total September 27, 2024 September 29, 2023 For the Quarters Ended ($ in millions) September 27, 2024 September 29, 2023 Transportation Industrial Communications For the Quarters Ended

Reconciliation of Forward-Looking Non-GAAP Financial Measures to Forward-Looking GAAP Financial Measures 28 Diluted earnings per share from continuing operations $ 1.64 Restructuring and other charges, net 0.23 Acquisition-related charges 0.01 Adjusted diluted earnings per share from continuing operations (2) $ 1.88 Net sales growth 1.8 % Translation (0.8) (Acquisitions) divestitures, net (0.6) Organic net sales growth (2) 0.4 % Effective tax rate 23.1 % 23.8 % Effective tax rate adjustments (3) (0.1) (0.3) Adjusted effective tax rate (2) 23.0 % 23.5 % Q uarter Ending O utlook for 2024 (1) December 27, O utlook for Fiscal 2025 (1) (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 30, 2024. (2) See description of non-GAAP financial measures.

Document and Entity Information	Oct. 30, 2024
Document Information
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 30, 2024
Entity File Number	001-33260
Entity Registrant Name	TE CONNECTIVITY PLC
Entity Central Index Key	0001385157
Entity Tax Identification Number	98-1779916
Entity Incorporation, State or Country Code	L2
Entity Address, Address Line One	Parkmore Business Park West
Entity Address, Adress Line Two	Parkmore
Entity Address, City or Town	Galway,
Entity Address, Postal Zip Code	H91VN2T
Entity Address, Country	IE
Country Region	+353
City Area Code	91
Local Phone Number	378 040
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Ordinary Shares
Document Information
Title of 12(b) Security	Ordinary Shares, Par Value $0.01
Trading Symbol	TEL
Security Exchange Name	NYSE
0.00% Senior Notes due 2025
Document Information
Title of 12(b) Security	0.00% Senior Notes due 2025*
Trading Symbol	TEL/25
Security Exchange Name	NYSE
0.00% Senior Notes due 2029
Document Information
Title of 12(b) Security	0.00% Senior Notes due 2029*
Trading Symbol	TEL/29
Security Exchange Name	NYSE

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