8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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 28, 2010

TYCO ELECTRONICS LTD.
(Exact Name of Registrant as Specified in its Charter)

Switzerland	98-0518048
(Jurisdiction of Incorporation)	(IRS Employer Identification Number)

001-33260
(Commission File Number)

Rheinstrasse 20

CH-8200 Schaffhausen
Switzerland

(Address of Principal Executive Offices, including Zip Code)

+41 (0)52 633 66 61
(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:

o         Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o         Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o         Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition

On October 28, 2010, Tyco Electronics Ltd. (the “Company”) issued a press release reporting the Company’s fourth quarter and full year results for fiscal 2010. 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 28, 2010 (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 28, 2010
99.2	Presentation —  Tyco Electronics Q4 2010 Earnings Call (October 28, 2010)

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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.

	TYCO ELECTRONICS LTD.
	(Registrant)
	By:	/s/ Terrence R. Curtin
		Terrence R. Curtin
		Executive Vice President and Chief Financial Officer
Date: October 28, 2010

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EX-99.1

Exhibit 99.1

News Release

FOR IMMEDIATE RELEASE

Contacts:	Media Relations:	Investor Relations:
	Sheri Woodruff	Keith Kolstrom
	610-893-9555 Office	610-893-9551 Office
	609-933-9243 Mobile	keith.kolstrom@te.com
	swoodruff@te.com

TYCO ELECTRONICS REPORTS STRONG FISCAL FOURTH QUARTER
AND FULL YEAR 2010 RESULTS

Fourth Quarter Results

·Net Sales of $3.1 Billion, Up 16 Percent Year-Over-Year

·Earnings Per Share From Continuing Operations (GAAP EPS) of $0.56; Adjusted EPS of $0.72, Up From $0.30 in Prior-Year Period

Full Year Results

·Net Sales of $12.1 Billion, Up 18 Percent Year-Over-Year

·Earnings Per Share From Continuing Operations of $2.32; Adjusted EPS of $2.54, Up From $0.81 in Prior Year

·Cash From Continuing Operations of $1.7 Billion; Free Cash Flow of $1.4 Billion, Up $180 Million Year-Over-Year

2011 Full Year Guidance (Excluding the pending ADC Acquisition)

·Organic Sales Growth of 4 to 7 Percent; Adjusted EPS Growth of 12 to 20 Percent

·Free Cash Flow Expected to be in Excess of $1.2 Billion

·Company Plans to Increase Dividend by 12.5 Percent

SCHAFFHAUSEN, Switzerland — Oct. 28, 2010 — Tyco Electronics Ltd. (NYSE: TEL) today reported results for the fiscal fourth quarter ended Sept. 24, 2010.  The company reported a net sales increase of 16 percent year-over-year, and 2 percent sequentially, to $3.1 billion.  GAAP EPS were $0.56 for the quarter, compared to $0.18 in the prior-year period.  Included in the GAAP EPS were $0.10 per share related to restructuring charges and a loss on the sale of a mechatronics business, $0.02 per share of acquisition-related costs and $0.05 per share of items primarily due to shared tax matters.  This compares to $0.12 per share of net charges in the prior-year quarter.  Adjusted EPS were $0.72 in the quarter,

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compared to $0.30 in the prior-year quarter.

Full-year net sales were $12.1 billion, an increase of 18 percent over the prior year.  Organic sales growth was 17 percent.  GAAP EPS were $2.32 for the year, compared to a loss of $6.77 in the prior year.  Included in GAAP EPS were $0.22 per share of net charges, compared to $7.58 per share of charges in the prior year.  Adjusted EPS were $2.54 for the year, compared to $0.81 in the prior year.

“Our fourth quarter was a strong finish to a very good year,” said Tyco Electronics Chief Executive Officer Tom Lynch.  “Our 2010 sales of $12.1 billion were up 18 percent over the prior year.  This growth was broad-based across our markets and geographies, driven by a recovering global economy and our ability to respond quickly during the rebound.  We also strengthened our market position during the year.

“Full-year adjusted EPS of $2.54 were up from $0.81 in the prior year.  This improvement was primarily due to the sales growth and strong execution of our productivity improvement programs.  We also generated $1.4 billion of free cash flow.”

FIRST QUARTER AND FULL YEAR FISCAL 2011 OUTLOOK (EXCLUDES ADC ACQUISITION)

“For fiscal 2011, we are expecting organic sales growth of 4 to 7 percent and 12  to 20 percent adjusted EPS growth.  This excludes the ADC acquisition that we expect to close this quarter,” Lynch said.  “The sales growth assumes 2 to 3 percent global GDP growth, driven primarily by continued strength in developing markets, where we have a leading position.  We expect another year of strong cash flow and plan to increase our dividend by 12.5 percent in our third quarter of fiscal 2011.  Earlier this month, we announced that our Board of Directors approved a $750 million expansion of our share repurchase program.”

For the first quarter, the company expects net sales of $3.05 to $3.15 billion, an increase of 5 to 9 percent over the prior-year period.  GAAP EPS are expected to be $0.63 to $0.67, including restructuring charges and acquisition-related costs of approximately $0.03 per share.  Adjusted EPS are expected to be $0.66 to $0.70, up 40 percent to 49 percent compared to adjusted EPS of $0.47 in the prior-year period.

For the full fiscal year, which includes 53 weeks in 2011, the company expects sales of $12.8 to $13.2 billion, an increase of 6 to 9 percent over the prior year.  GAAP EPS are expected to be $2.80 to $3.00, including restructuring charges and acquisition-related costs of approximately $0.05 per share.  Adjusted EPS are expected to be $2.85 to $3.05, compared to adjusted EPS of $2.54 in the prior-year period.  Approximately $240 million of the expected growth and $0.05 per share of EPS is due to the impact of the

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additional week in 2011.  Excluding the 53rd week, sales are expected to be up 4 to 7 percent organically and adjusted EPS will be up 10 to 18 percent.

This outlook assumes current foreign exchange and commodity rates, and does not include results related to the pending acquisition of ADC.

ADC ACQUISITION UPDATE

As announced in July 2010, the company reached an agreement to acquire ADC (NASDAQ: ADCT) for $12.75 per share in cash, or an enterprise value of approximately $1.25 billion.  This acquisition is expected to position the company as a leading global provider of broadband connectivity products to carrier and enterprise networks.

Integration plans are progressing as expected.  We continue to anticipate that the transaction will close in the current quarter and be accretive by $0.14 per share in the first 12 months after closing — excluding acquisition-related costs.

FISCAL FOURTH QUARTER 2010 RESULTS

The following discussion includes non-GAAP financial measures which are described at the end of this press release.  For a reconciliation of these non-GAAP financial measures, see the attached tables.  All dollar amounts are pre-tax and stated in millions.

										% Change		% Change
($ in millions)	Sept. 24, 2010			June 25, 2010			Sept. 25, 2009			Sequential		YoY
Net Sales	$	3,137		$	3,084		$	2,698		2	%	16	%
Operating Income	$	382		$	467		$	176		(18	)%	117	%
Restructuring and Other Charges	$	(56	)	$	(3	)	$	(45	)
Acquisition and Integration Costs	$	(8	)	$	0		$	0
Other Items	$	0		$	7		$	0
Adjusted Operating Income	$	446		$	463		$	221		(4	)%	102	%
Operating Margin	12.2		%	15.1		%	6.5		%
Adjusted Operating Margin	14.2		%	15.0		%	8.2		%

Sales grew 16 percent compared to the prior-year quarter and 2 percent sequentially.  Organically, sales increased 19 percent compared to the prior year and 1 percent sequentially.  By segment, and on an organic basis, sales in the Electronic Components segment were flat sequentially, with continued growth in industrial markets mostly offset by typical seasonal production declines in automotive.  Sales increased 6 percent sequentially in the Network Solutions segment due to increased capital spending in

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infrastructure markets.  Sales in the Specialty Products segment grew 5 percent sequentially, with broad-based growth in all markets.  In the Subsea Communications segment, sales decreased 14 percent sequentially.

The adjusted operating margin was up 600 basis points versus the prior year to 14.2 percent, and down sequentially as expected.

CASH FLOW

Cash from continuing operations was $474 million during the quarter, and free cash flow was $443 million. For the full year, cash from operations was $1.7 billion and free cash flow was $1.4 billion, up 15 percent versus the prior year.

ORDERS

Total company orders increased 3 percent compared to the prior year and decreased 9 percent sequentially.  The book-to-bill ratio was 0.95 in the quarter.  Excluding the Subsea Communications segment, which is a project-oriented business with uneven order patterns, orders increased 16 percent year-over-year and decreased 6 percent sequentially and the book-to-bill ratio was 0.99.

ADDITIONAL ITEMS

·Dividend - The company’s Board of Directors approved a recommendation to increase the quarterly dividend by 12.5 percent to $0.18 per share for the four fiscal quarters beginning with the third quarter of 2011.  This recommendation will be presented for shareholder approval at the company’s Annual General Meeting of Shareholders in March 2011.

·Share Repurchases - On Oct. 1, 2010 the company announced that its Board of Directors authorized a $750 million increase in the share repurchase program to a total of $2.75 billion.  Approximately $1.9 billion has been utilized under the program to-date.

ABOUT TYCO ELECTRONICS

Tyco Electronics Ltd. is a leading global provider of engineered electronic components, network solutions, specialty products and subsea communication systems, with fiscal 2010 sales of $12.1 billion to customers in more than 150 countries. We design, manufacture and market products for customers in a broad array of industries including automotive; data communication systems and consumer electronics; telecommunications; aerospace, defense and marine; medical; energy; and lighting. With approximately 7,000 engineers and worldwide manufacturing, sales and customer service capabilities, Tyco Electronics’ commitment is our customers’ advantage. More information on Tyco Electronics can be found at

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http://www.tycoelectronics.com/.

CONFERENCE CALL AND WEBCAST

·The company will hold a conference call for investors today beginning at 8:30 a.m. EDT.

·Internet users will be able to access the company’s earnings webcast, including slide materials, at the “Investors” section of Tyco Electronics’ website: http://investors.tycoelectronics.com.

·For both “listen-only” participants and those participants who wish to take part in the question-and-answer portion of the call, the telephone dial-in number in the United States is (800) 288-8976. The telephone dial-in number for participants outside the United States is (612) 332-0636.

·An audio replay of the conference call will be available beginning at 10:30 a.m. on Oct. 28, 2010 and ending at 11:59 p.m. on Nov. 4, 2010. The dial-in number for participants in the United States is (800) 475-6701.  For participants outside the United States, the replay dial-in number is (320) 365-3844. The replay access code for all callers is 170757.

NON-GAAP MEASURES

“Organic Sales Growth,” “Adjusted Operating Income,” “Adjusted Operating Margin,” “Adjusted Other Income, Net,” “Adjusted Income Tax (Expense) Benefit,” “Adjusted Income from Continuing Operations,”  “Adjusted Earnings Per Share,” and “Free Cash Flow” (FCF) are non-GAAP measures and should not be considered replacements for GAAP results.

“Organic Sales Growth” is a useful measure used by the company to measure the underlying results and trends in the business.  The difference between reported net sales growth (the most comparable GAAP measure) and Organic Sales Growth (the non-GAAP measure) consists of the impact from foreign currency, acquisitions and divestitures.  Organic Sales Growth is a useful measure of the company’s performance because it excludes items that:  i) are not completely under management’s control, such as the impact of foreign currency exchange; or ii) do not reflect the underlying growth of the company, such as acquisition and divestiture activity.  The limitation of this measure is that it excludes items that have an impact on the company’s sales.  This limitation is best addressed by using organic sales growth in combination with the GAAP results. See the accompanying tables to this press release for the reconciliation presenting the components of Organic Sales Growth.

The company has presented its operating income before special items including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, and other income or charges (“Adjusted Operating Income”).  The company utilizes Adjusted Operating Income to assess segment level core operating performance and to provide insight to management in evaluating segment operating plan execution and underlying market conditions.  It is also a significant component in the company’s incentive compensation plans. Adjusted Operating Income is a useful measure for investors because it better reflects the company’s underlying operating results, trends and the comparability of these results between periods.  The difference between Adjusted Operating Income and operating income (the most comparable GAAP measure) consists of the impact of charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, and other income or charges that may mask the underlying operating results and/or business trends.  The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the company’s reported operating income. This limitation is best addressed by using Adjusted Operating Income in combination with operating income (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease on reported results.

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The company has presented its operating margin before special items including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, and other income or charges (“Adjusted Operating Margin”).  The company presents Adjusted Operating Margin before special items to give investors a perspective on the underlying business results.  Because the company cannot predict the amount and timing of such items and the associated charges or gains that will be recorded in the company’s financial statements, it is difficult to include the impact of those items in the forecast.

The company has presented other income, net before special items including tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items and the gain on retirement of debt (“Adjusted Other Income, Net”). The company presents Adjusted Other Income, Net as it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. The difference between Adjusted Other Income, Net and other income, net (the most comparable GAAP measure) consists of tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items and the gain on retirement of debt. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease other income, net. This limitation is best addressed by using Adjusted Other Income, Net in combination with other income, net (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts.

The company has presented income tax (expense) benefit after adjusting for the tax effect of special items including charges related to restructuring and other charges, impairment charges, acquisition and integration costs, other income or charges, and certain significant special tax items (“Adjusted Income Tax (Expense) Benefit”).  The company presents Adjusted Income Tax (Expense) Benefit to provide investors further information regarding the tax effects of adjustments used in determining the non-GAAP financial measure Adjusted Income from Continuing Operations (as defined below).  The difference between Adjusted Income Tax (Expense) Benefit and income tax (expense) benefit (the most comparable GAAP measure) is the tax effect of adjusting items and certain significant special tax items.  The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease income tax (expense) benefit. This limitation is best addressed by using Adjusted Income Tax (Expense) Benefit in combination with income tax (expense) benefit (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts.

The company has presented income from continuing operations attributable to Tyco Electronics Ltd. before special items including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items, certain significant special tax items, other income or charges, and, if applicable, related tax effects (“Adjusted Income from Continuing Operations”).  The company presents Adjusted Income from Continuing Operations as it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP.  Adjusted Income from Continuing Operations provides additional information regarding the company’s underlying operating results, trends and the comparability of these results between periods.  The difference between Adjusted Income from Continuing Operations and income from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) consists of the impact of charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items, certain significant special tax items, other income or charges, and, if applicable, related tax effects.  The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the company’s reported results. This limitation is best addressed by using Adjusted Income from Continuing Operations in combination with income from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any

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increase or decrease in reported amounts.

The company has presented diluted earnings per share from continuing operations attributable to Tyco Electronics Ltd. before special items, including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items, certain significant special tax items, other income or charges, and, if applicable, related tax effects (“Adjusted Earnings Per Share”). The company presents Adjusted Earnings Per Share because it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP.  The company believes such a measure provides a picture of its results that is more comparable among periods since it excludes the impact of special items, which may recur, but tend to be irregular as to timing, thereby making comparisons between periods more difficult. This limitation is best addressed by using Adjusted Earnings Per Share in combination with diluted earnings per share from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease on reported results.

“Free Cash Flow” (FCF) is a useful measure of the company’s cash generation which is free from any significant existing obligation.  The difference between cash flows from operating activities (the most comparable GAAP measure) and FCF (the non-GAAP measure) consists mainly of significant cash outflows that the company believes are useful to identify.  FCF permits management and investors to gain insight into the amount that management employs to measure cash that is free from any significant existing obligation.  The difference reflects the impact from:

·net capital expenditures,

·voluntary pension contributions, and

·cash impact of special items.

Net capital expenditures are subtracted because they represent long-term commitments.  Voluntary pension contributions are subtracted from the GAAP measure because this activity is driven by economic financing decisions rather than operating activity.  The company forecasts its cash flow results excluding any voluntary pension contributions because it has not yet made a determination about the amount and timing of any such future contributions.  In addition, the company’s forecast excludes the cash impact of special items because the company cannot predict the amount and timing of such items.

The limitation associated with using FCF is that it subtracts cash items that are ultimately within management’s and the Board of Directors’ discretion to direct and that therefore may imply that there is less or more cash that is available for the company’s programs than the most comparable GAAP measure.  This limitation is best addressed by using FCF in combination with the GAAP cash flow results.

FCF as presented herein may not be comparable to similarly-titled measures reported by other companies.  The measure should be used in conjunction with other GAAP financial measures.  Investors are urged to read the company’s financial statements as filed with the Securities and Exchange Commission, as well as the accompanying tables to this press release that show all the elements of the GAAP measures of Cash Flows from Operating Activities, Cash Flows from Investing Activities, Cash Flows from Financing Activities and a reconciliation of the company’s total cash and cash equivalents for the period.  See the accompanying tables to this press release for a cash flow statement presented in accordance with GAAP and a reconciliation presenting the components of FCF.

Because the company does not predict the amount and timing of special items that might occur in the future, and its forecasts are developed at a level of detail different than that used to prepare GAAP-based financial measures, the company does not provide reconciliations to GAAP of its forward-looking financial measures.

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CORRECTION OF IMMATERIAL ERRORS

During the third quarter of fiscal 2010, the company identified certain errors in its accounting for income taxes. These errors related to the adoption of the uncertain tax position provisions of ASC 740, Income Taxes, in fiscal 2008 and data utilized in the determination of the company’s income tax provision in fiscal 2005 through fiscal 2009.

The company evaluated the effects of these errors individually and in the aggregate and determined that its prior period financial statements are not materially misstated.  However, the company determined that the cumulative effect of correcting these errors in fiscal 2010 would be material to the fiscal 2010 financial statements.  Therefore, the company corrected these errors in the affected prior periods.  More information related to these corrections is provided in the schedules attached accompanying this press release.

FORWARD-LOOKING STATEMENTS

This release may contain certain “forward-looking statements” within the meaning of the United States 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. Tyco Electronics has no intention and is under no obligation to update or alter (and expressly disclaims any such intention or obligation to do so) its 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 and the acquisition of ADC Telecommunications, Inc. (ADC). Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, business, economic, competitive and regulatory risks, such as developments in the credit markets; conditions affecting demand for products, particularly the automotive industry and the telecommunications, computer and consumer electronics industries; future goodwill impairment; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; political, economic and military instability in countries in which we operate; compliance with current and future environmental and other laws and regulations; the possible effects on us of changes in tax laws, tax treaties and other legislation; the risk that the ADC transaction may not be consummated; the risk that a regulatory approval that may be required for the transaction is not obtained or is obtained subject to conditions that are not anticipated; the risk that ADC will not be integrated successfully into Tyco Electronics; and the risk that revenue opportunities, cost savings and other anticipated synergies from the transaction may not be fully realized or may take longer to realize than expected. More detailed information about these and other factors is set forth in Tyco Electronics’ Annual Report on Form 10-K for the fiscal year ended Sept. 25, 2009 and Quarterly Reports on Form 10-Q for the quarterly periods ended Dec. 25, 2009, March 26, 2010 and June 25, 2010, as well as in Tyco Electronics’ Current Reports on Form 8-K and other reports filed by Tyco Electronics with the Securities and Exchange Commission.

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TYCO ELECTRONICS LTD.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	For the Quarter Ended						For the Year Ended
	September 24,			September 25,			September 24,			September 25,
	2010			2009			2010			2009
	(in millions, except per share data)
Net sales	$	3,137		$	2,698		$	12,070		$	10,256
Cost of sales	2,144			2,007			8,293			7,720
Gross margin	993			691			3,777			2,536
Selling, general, and administrative expenses	389			338			1,538			1,408
Research, development, and engineering expenses	158			131			585			536
Acquisition and integration costs	8			—			8			—
Restructuring and other charges, net	56			46			137			375
Pre-separation litigation charges (income)	—			—			(7		)	144
Impairment of goodwill	—			—			—			3,547
Operating income (loss)	382			176			1,516			(3,474		)
Interest income	6			4			20			17
Interest expense	(40		)	(40		)	(155		)	(165		)
Other income (expense), net	52			(55		)	177			(48		)
Income (loss) from continuing operations before income taxes	400			85			1,558			(3,670		)
Income tax (expense) benefit	(145		)	(3		)	(493		)	567
Income (loss) from continuing operations	255			82			1,065			(3,103		)
Income (loss) from discontinued operations, net of income taxes	44			10			44			(156		)
Net income (loss)	299			92			1,109			(3,259		)
Less: net income attributable to noncontrolling interests	(2		)	(1		)	(6		)	(6		)
Net income (loss) attributable to Tyco Electronics Ltd.	$	297		$	91		$	1,103		$	(3,265	)
Amounts attributable to Tyco Electronics Ltd.:
Income (loss) from continuing operations	$	253		$	81		$	1,059		$	(3,109	)
Income (loss) from discontinued operations	44			10			44			(156		)
Net income (loss)	$	297		$	91		$	1,103		$	(3,265	)
Basic earnings (loss) per share attributable to Tyco Electronics Ltd.:
Income (loss) from continuing operations	$	0.57		$	0.18		$	2.34		$	(6.77	)
Income (loss) from discontinued operations	0.10			0.02			0.09			(0.34		)
Net income (loss)	$	0.67		$	0.20		$	2.43		$	(7.11	)
Diluted earnings (loss) per share attributable to Tyco Electronics Ltd.:
Income (loss) from continuing operations	$	0.56		$	0.18		$	2.32		$	(6.77	)
Income (loss) from discontinued operations	0.10			0.02			0.09			(0.34		)
Net income (loss)	$	0.66		$	0.20		$	2.41		$	(7.11	)
Weighted-average number of shares outstanding:
Basic	446			459			453			459
Diluted	450			461			457			459

TYCO ELECTRONICS LTD.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	September 24,			September 25,
	2010			2009
	(in millions, except share data)
Assets
Current Assets:
Cash and cash equivalents	$	1,990		$	1,521
Accounts receivable, net of allowance for doubtful accounts of $44 and $48, respectively	2,259			1,975
Inventories	1,583			1,435
Prepaid expenses and other current assets	651			487
Deferred income taxes	248			161
Total current assets	6,731			5,579
Property, plant, and equipment, net	2,867			3,111
Goodwill	3,211			3,160
Intangible assets, net	392			407
Deferred income taxes	2,447			2,397
Receivable from Tyco International Ltd. and Covidien plc	1,127			1,130
Other assets	217			234
Total Assets	$	16,992		$	16,018
Liabilities and Shareholders’ Equity
Current Liabilities:
Current maturities of long-term debt	$	106		$	101
Accounts payable	1,386			1,068
Accrued and other current liabilities	1,804			1,243
Deferred revenue	164			203
Total current liabilities	3,460			2,615
Long-term debt	2,307			2,316
Long-term pension and postretirement liabilities	1,280			1,129
Deferred income taxes	285			188
Income taxes	2,152			2,130
Other liabilities	452			634
Total Liabilities	9,936			9,012
Commitments and contingencies
Shareholders’ Equity:
Common shares, 468,215,574 shares authorized and issued, CHF 1.73 par value, at September 24, 2010; 468,215,574 shares authorized and issued, CHF 2.43 par value, at September 25, 2009	599			1,049
Contributed surplus	8,085			8,105
Accumulated deficit	(1,161		)	(2,264		)
Treasury shares, at cost, 24,845,929 and 9,425,172 shares, respectively	(721		)	(349		)
Accumulated other comprehensive income	246			455
Total Tyco Electronics Ltd. shareholders’ equity	7,048			6,996
Noncontrolling interests	8			10
Total Shareholders’ Equity	7,056			7,006
Total Liabilities and Shareholders’ Equity	$	16,992		$	16,018

TYCO ELECTRONICS LTD.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Quarter Ended						For the Year Ended
	September 24,			September 25,			September 24,			September 25,
	2010			2009			2010			2009
	(in millions)
Cash Flows From Operating Activities:
Net income (loss)	$	299		$	92		$	1,109		$	(3,259	)
(Income) loss from discontinued operations, net of income taxes	(44		)	(10		)	(44		)	156
Income (loss) from continuing operations	255			82			1,065			(3,103		)
Adjustments to reconcile net cash provided by operating activities:
Impairment of goodwill	—			—			—			3,547
Loss on divestitures	42			—			43			7
Non-cash restructuring and other charges, net	1			18			17			49
Depreciation and amortization	125			133			520			515
Deferred income taxes	(240		)	111			35			(574		)
Provision for losses on accounts receivable and inventories	(3		)	17			(4		)	74
Tax sharing (income) expense	(37		)	77			(163		)	68
Share-based compensation	16			12			63			50
Other	(19		)	(14		)	12			(10		)
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net	51			(128		)	(323		)	651
Inventories	48			167			(213		)	638
Inventoried costs on long-term contracts	31			103			36			(4		)
Prepaid expenses and other current assets	17			(40		)	(25		)	184
Accounts payable	(50		)	50			317			(420		)
Accrued and other current liabilities	(9		)	124			77			(124		)
Income taxes	302			(142		)	302			(115		)
Deferred revenue	(3		)	34			(38		)	(7		)
Other	(53		)	(55		)	(42		)	(48		)
Net cash provided by continuing operating activities	474			549			1,679			1,378
Net cash used in discontinued operating activities	—			(7		)	—			(49		)
Net cash provided by operating activities	474			542			1,679			1,329
Cash Flows From Investing Activities:
Capital expenditures	(136		)	(58		)	(385		)	(328		)
Proceeds from sale of property, plant, and equipment	11			4			16			13
Acquisition of businesses, net of cash acquired	(23		)	—			(93		)	—
Proceeds from divestiture of discontinued operations, net of cash retained by operations sold	—			(1		)	—			693
Proceeds from divestiture of businesses, net of cash retained by businesses sold	3			1			15			17
Other	25			1			5			(1		)
Net cash provided by (used in) continuing investing activities	(120		)	(53		)	(442		)	394
Net cash used in discontinued investing activities	—			—			—			(3		)
Net cash provided by (used in) investing activities	(120		)	(53		)	(442		)	391
Cash Flows From Financing Activities:
Net increase (decrease) in commercial paper	100			—			100			(649		)
Proceeds from long-term debt	—			—			—			448
Repayment of long-term debt	(100		)	(141		)	(100		)	(602		)
Repurchase of common shares	(115		)	—			(488		)	(152		)
Payment of common share dividends and cash distributions to shareholders	(71		)	(73		)	(289		)	(294		)
Transfer to discontinued operations	—			(7		)	—			(56		)
Other	(6		)	(2		)	(2		)	(5		)
Net cash used in continuing financing activities	(192		)	(223		)	(779		)	(1,310		)
Net cash provided by discontinued financing activities	—			7			—			56
Net cash used in financing activities	(192		)	(216		)	(779		)	(1,254		)
Effect of currency translation on cash	13			(10		)	11			(31		)
Net increase in cash and cash equivalents	175			263			469			435
Less: net increase in cash and cash equivalents related to discontinued operations	—			—			—			(4		)
Cash and cash equivalents at beginning of period	1,815			1,258			1,521			1,090
Cash and cash equivalents at end of period	$	1,990		$	1,521		$	1,990		$	1,521
Supplemental Cash Flow Information:
Income taxes paid, net of refunds	$	83		$	34		$	156		$	121
Reconciliation to Free Cash Flow:
Net cash provided by continuing operating activities	$	474		$	549		$	1,679		$	1,378
Capital expenditures, net	(125		)	(54		)	(369		)	(315		)
Pre-separation litigation payments	25			52			25			102
Voluntary pension contributions	69			61			69			61
Free cash flow (1)	$	443		$	608		$	1,404		$	1,226

(1) Free cash flow is a non-GAAP measure.  See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

CONSOLIDATED SEGMENT DATA (UNAUDITED)

	For the Quarter Ended								For the Year Ended
	September 24,				September 25,				September 24,				September 25,
	2010				2009				2010				2009
	($ in millions)
Net Sales:
Electronic Components	$	2,101			$	1,632			$	8,070			$	5,961
Network Solutions	469				436				1,727				1,719
Specialty Products	422				362				1,549				1,415
Subsea Communications	145				268				724				1,161
Total	$	3,137			$	2,698			$	12,070			$	10,256
Operating Income (Loss):
Electronic Components	$	244	11.6	%	$	38	2.3	%	$	967	12.0	%	$	(3,716	)	NM	(1)
Network Solutions	55		11.7	%	37		8.5	%	177		10.2	%	133			7.7	%
Specialty Products	64		15.2	%	47		13.0	%	230		14.8	%	34			2.4	%
Subsea Communications	19		13.1	%	54		20.1	%	135		18.6	%	219			18.9	%
Pre-separation litigation (charges) income	—				—				7				(144		)
Total	$	382	12.2	%	$	176	6.5	%	$	1,516	12.6	%	$	(3,474	)	NM	(1)

(1) Not meaningful.

TYCO ELECTRONICS LTD.

NET SALES GROWTH RECONCILIATION (UNAUDITED)

																	Percentage of
																	Segment’s Total
	Change in Net Sales for the Quarter Ended September 24, 2010																Net Sales for the
	versus Net Sales for the Quarter Ended September 25, 2009																Quarter Ended
	Organic (1)					Translation (2)			Divestiture			Total					September 24, 2010
	($ in millions)
Electronic Components (3):
Automotive	$	215		25.7	%	$	(33	)	$	—		$	182		21.7	%	49	%
DataComm	96			51.0		1			—			97			51.6		14
Industrial	91			55.6		(8		)	—			83			50.9		11
Appliance	33			29.0		1			—			34			29.6		7
Computer	17			15.3		2			—			19			17.4		6
Consumer Devices	(9		)	(8.5	)	—			—			(9		)	(8.7	)	4
Other	69			60.2		(6		)	—			63			54.3		9
Total	512			31.4		(43		)	—			469			28.7		100	%
Network Solutions (3):
Energy	22			10.6		(10		)	(15		)	(3		)	(1.4	)	44
Service Providers	32			28.0		(7		)	—			25			22.1		29
Enterprise Networks	13			12.1		(1		)	—			12			11.1		26
Other	—			(8.5	)	(1		)	—			(1		)	(14.3	)	1
Total	67			15.3		(19		)	(15		)	33			7.6		100	%
Specialty Products (3):
Aerospace, Defense, and Marine	24			15.5		(5		)	—			19			12.8		40
Touch Systems	26			30.0		(2		)	—			24			27.3		26
Circuit Protection	9			13.3		1			—			10			14.9		18
Medical	7			12.0		—			—			7			11.9		16
Total	66			18.1		(6		)	—			60			16.6		100	%
Subsea Communications	(122		)	(45.6	)	(1		)	—			(123		)	(45.9	)
Total	$	523		19.4	%	$	(69	)	$	(15	)	$	439		16.3	%

																Percentage of
																Segment’s Total
	Change in Net Sales for the Year Ended September 24, 2010															Net Sales for the
	versus Net Sales for the Year Ended September 25, 2009															Year Ended
	Organic (1)					Translation (2)		Divestiture			Total					September 24, 2010
	($ in millions)
Electronic Components (3):
Automotive	$	1,232		42.5	%	$	68	$	—		$	1,300		46.5	%	51	%
DataComm	147			17.4		14		(18		)	143			17.0		12
Industrial	215			32.5		15		(2		)	228			34.5		11
Appliance	152			36.7		15		—			167			40.2		7
Computer	63			14.9		6		(3		)	66			15.5		6
Consumer Devices	28			7.4		1		(21		)	8			2.1		5
Other	196			44.6		4		(3		)	197			44.8		8
Total	2,033			33.8		123		(47		)	2,109			35.4		100	%
Network Solutions (3):
Energy	(12		)	(1.5	)	19		(39		)	(32		)	(4.0	)	45
Service Providers	(13		)	(2.6	)	11		—			(2		)	(0.4	)	28
Enterprise Networks	30			7.3		11		—			41			10.1		26
Other	—			1.8		1		—			1			4.0		1
Total	5			0.3		42		(39		)	8			0.5		100	%
Specialty Products (3):
Aerospace, Defense, and Marine	(5		)	(0.8	)	6		—			1			0.2		40
Touch Systems	54			16.9		5		—			59			17.9		25
Circuit Protection	62			29.7		10		—			72			33.2		19
Medical	—			(0.1	)	2		—			2			0.8		16
Total	111			7.9		23		—			134			9.5		100	%
Subsea Communications	(437		)	(37.6	)	—		—			(437		)	(37.6	)
Total	$	1,712		16.7	%	$	188	$	(86	)	$	1,814		17.7	%

(1) Represents the change in net sales resulting from volume and price changes, before consideration of acquisitions, divestitures, and the impact of changes in foreign currency exchange rates.   Organic net sales growth is a non-GAAP measure.   See description of non-GAAP measures contained in this release.

(2) Represents the change in net sales resulting from changes in foreign currency exchange rates.

(3) Industry end market information about net sales is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

TYCO ELECTRONICS LTD.

NET SALES GROWTH RECONCILIATION (UNAUDITED)

														Percentage of
														Segment’s Total
	Change in Net Sales for the Quarter Ended September 24, 2010													Net Sales for the
	versus Net Sales for the Quarter Ended June 25, 2010													Quarter Ended
	Organic (1)					Translation (2)			Total					September 24, 2010
	($ in millions)
Electronic Components (3):
Automotive	$	(28	)	(2.7	)%	$	10		$	(18	)	(1.7	)%	49	%
DataComm	23			9.1		5			28			10.9		14
Industrial	11			4.8		1			12			5.1		11
Appliance	(8		)	(5.1	)	2			(6		)	(3.9	)	7
Computer	(4		)	(3.2	)	2			(2		)	(1.5	)	6
Consumer Devices	—			—		1			1			1.1		4
Other	13			7.3		(1		)	12			7.2		9
Total	7			0.3		20			27			1.3		100	%
Network Solutions (3):
Energy	17			8.7		—			17			9.0		44
Service Providers	5			3.8		1			6			4.5		29
Enterprise Networks	4			3.1		—			4			3.4		26
Other	(1		)	(10.1	)	1			—			—		1
Total	25			5.5		2			27			6.1		100	%
Specialty Products (3):
Aerospace, Defense, and Marine	6			3.2		—			6			3.7		40
Touch Systems	10			9.9		1			11			10.9		26
Circuit Protection	1			1.0		2			3			4.1		18
Medical	3			4.7		1			4			6.5		16
Total	20			4.8		4			24			6.0		100	%
Subsea Communications	(24		)	(14.1	)	(1		)	(25		)	(14.7	)
Total	$	28		0.9	%	$	25		$	53		1.7	%

(1) Represents the change in net sales resulting from volume and price changes, before consideration of acquisitions, divestitures, and the impact of changes in foreign currency exchange rates.   Organic net sales growth is a non-GAAP measure.   See description of non-GAAP measures contained in this release.

(2) Represents the change in net sales resulting from changes in foreign currency exchange rates.

(3) Industry end market information about net sales is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

TYCO ELECTRONICS LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended September 24, 2010

(UNAUDITED)

				Adjustments
				Acquisition		Restructuring
				and Integration		and Other			Tax			Adjusted
	U.S. GAAP			Costs		Charges, Net			Items (1)			(Non-GAAP) (2)
	($ in millions, except per share data)
Operating Income:
Electronic Components	$	244		$	—	$	52		$	—		$	296
Network Solutions	55			8		3			—			66
Specialty Products	64			—		—			—			64
Subsea Communications	19			—		1			—			20
Total	$	382		$	8	$	56		$	—		$	446
Operating Margin	12.2		%									14.2		%
Other Income, Net	$	52		$	—	$	—		$	(40	)	$	12
Income Tax Expense	$	(145	)	$	—	$	(13	)	$	62		$	(96	)
Income from Continuing Operations Attributable to Tyco Electronics Ltd.	$	253		$	8	$	43		$	22		$	326
Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd.	$	0.56		$	0.02	$	0.10		$	0.05		$	0.72

(1) Includes income tax expense related to certain proposed adjustments to prior year tax returns and income tax benefits associated with the settlement of an audit of prior year tax returns as well as the related impact to other income pursuant to the Tax Sharing Agreement with Tyco International and Covidien.

(2) See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended September 25, 2009

(UNAUDITED)

				Adjustments
				Restructuring
				and Other			Tax			Retirement			Adjusted
	U.S. GAAP			Charges, Net (1)			Items (2)			of Debt			(Non-GAAP) (3)
	($ in millions, except per share data)
Operating Income:
Electronic Components	$	38		$	24		$	—		$	—		$	62
Network Solutions	37			14			—			—			51
Specialty Products	47			4			—			—			51
Subsea Communications	54			3			—			—			57
Total	$	176		$	45		$	—		$	—		$	221
Operating Margin	6.5		%										8.2		%
Other Income (Expense), Net	$	(55	)	$	—		$	86		$	(22	)	$	9
Income Tax Expense	$	(3	)	$	(9	)	$	(46	)	$	—		$	(58	)
Income from Continuing Operations Attributable to Tyco Electronics Ltd.	$	81		$	36		$	40		$	(19	)	$	138
Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd.	$	0.18		$	0.08		$	0.09		$	(0.04	)	$	0.30

(1) Includes $46 million recorded in net restructuring and other charges and a $1 million credit recorded in cost of sales.

(2) Includes an income tax benefit primarily related to proposed adjustments to prior year tax returns, and charges to other expense pursuant to the Tax Sharing Agreement with Tyco International and Covidien.

(3) See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Year Ended September 24, 2010

(UNAUDITED)

				Adjustments
				Restructuring
				and Other			Tax			Other Items,			Adjusted
	U.S. GAAP			Charges, Net (1)			Items (2)			Net (3)			(Non-GAAP) (4)
	($ in millions, except per share data)
Operating Income:
Electronic Components	$	967		$	108		$	—		$	—		$	1,075
Network Solutions	177			19			—			8			204
Specialty Products	230			5			—			—			235
Subsea Communications	135			2			—			—			137
Pre-separation litigation income	7			—			—			(7		)	—
Total	$	1,516		$	134		$	—		$	1		$	1,651
Operating Margin	12.6		%										13.7		%
Other Income, Net	$	177		$	—		$	(137	)	$	—		$	40
Income Tax Expense	$	(493	)	$	(30	)	$	134		$	—		$	(389	)
Income from Continuing Operations Attributable to Tyco Electronics Ltd.	$	1,059		$	104		$	(3	)	$	1		$	1,161
Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd.	$	2.32		$	0.23		$	(0.01	)	$	0.00		$	2.54

(1) Includes $137 million recorded in net restructuring and other charges and a $3 million credit recorded in cost of sales.

(2) Includes income tax expense related to certain proposed adjustments to prior year tax returns and income tax benefits associated with the settlement of an audit of prior year tax returns as well as the related impact to other income pursuant to the Tax Sharing Agreement with Tyco International and Covidien.  Also includes an income tax benefit recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards.

(3) Consists of $8 million of acquisition and integration costs and $7 million of income related to pre-separation securities litigation.

(4) See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Year Ended September 25, 2009

(UNAUDITED)

				Adjustments
				Restructuring
				and Other			Impairment of			Tax			Other Items,			Adjusted
	U.S. GAAP			Charges, Net (1)			Goodwill			Items (2)			Net (3)			(Non-GAAP) (4)
	($ in millions, except per share data)
Operating Income (Loss):
Electronic Components	$	(3,716	)	$	278		$	3,435		$	—		$	—		$	(3	)
Network Solutions	133			56			—			—			—			189
Specialty Products	34			31			112			—			8			185
Subsea Communications	219			8			—			—			—			227
Pre-separation litigation charges	(144		)	—			—			—			144			—
Total	$	(3,474	)	$	373		$	3,547		$	—		$	152		$	598
Operating Margin	NM		(6)													5.8		%
Other Income (Expense), Net	$	(48	)	$	—		$	—		$	86		$	(22	)	$	16
Income Tax (Expense) Benefit	$	567		$	(87	)	$	(523	)	$	(46	)	$	(3	)	$	(92	)
Income (Loss) from Continuing Operations Attributable to Tyco Electronics Ltd.	$	(3,109	)	$	286		$	3,024		$	40		$	130		$	371
Diluted Earnings (Loss) per Share from Continuing Operations Attributable to Tyco Electronics Ltd. (5)	$	(6.77	)	$	0.62		$	6.57		$	0.09		$	0.28		$	0.81

(1) Includes $375 million recorded in net restructuring and other charges and a $2 million credit recorded in cost of sales.

(2) Includes an income tax benefit primarily related to proposed adjustments to prior year tax returns, and charges to other expense pursuant to the Tax Sharing Agreement with Tyco International and Covidien.

(3) Consists of $144 million of charges related to the settlement of pre-separation securities litigation and $8 million of costs related to a product liability matter from several years ago recorded in selling, general, and administrative expenses.  Also includes net gain related to retirement of debt of $19 million.

(4) See description of non-GAAP measures contained in this release.

(5) GAAP diluted shares excludes 1 million of non-vested restricted share awards and non-vested options as the inclusion of these securities would have been anti-dilutive.  Such amounts are included in non-GAAP diluted shares.

(6) Not meaningful.

TYCO ELECTRONICS LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended December 25, 2009

(UNAUDITED)

				Adjustments
				Restructuring
				and Other			Adjusted
	U.S. GAAP			Charges, Net (1)			(Non-GAAP) (2)
	($ in millions, except per share data)
Operating Income:
Electronic Components	$	163		$	44		$	207
Network Solutions	20			17			37
Specialty Products	51			—			51
Subsea Communications	35			2			37
Total	$	269		$	63		$	332
Operating Margin	9.3		%				11.5		%
Other Income, Net	$	8		$	—		$	8
Income Tax Expense	$	(69	)	$	(16	)	$	(85	)
Income from Continuing Operations Attributable to Tyco Electronics Ltd.	$	172		$	47		$	219
Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd.	$	0.37		$	0.10		$	0.47

(1) Includes $66 million recorded in net restructuring and other charges and a $3 million credit recorded in cost of sales.

(2) See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended June 25, 2010

(UNAUDITED)

				Adjustments
				Restructuring
				and Other			Tax			Other Items,			Adjusted
	U.S. GAAP			Charges, Net			Items (1)			Net (2)			(Non-GAAP) (3)
	($ in millions, except per share data)
Operating Income:
Electronic Components	$	298		$	4		$	—		$	—		$	302
Network Solutions	60			(1		)	—			—			59
Specialty Products	66			1			—			—			67
Subsea Communications	36			(1		)	—			—			35
Pre-separation litigation income	7			—			—			(7		)	—
Total	$	467		$	3		$	—		$	(7	)	$	463
Operating Margin	15.1		%										15.0		%
Other Income, Net	$	42		$	—		$	(33	)	$	—		$	9
Income Tax Expense	$	(144	)	$	—		$	26		$	—		$	(118	)
Income from Continuing Operations Attributable to Tyco Electronics Ltd.	$	330		$	3		$	(7	)	$	(7	)	$	319
Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd.	$	0.72		$	0.01		$	(0.02	)	$	(0.02	)	$	0.70

(1) Includes income tax expense related to certain proposed adjustments to prior year tax returns and income tax benefits associated with the completion of an audit of prior year tax returns.  Also includes the related impact to other income pursuant to the Tax Sharing Agreement with Tyco International and Covidien.

(2) Consists of $7 million of income related to pre-separation securities litigation.

(3) See description of non-GAAP measures contained in this release.

TYCO ELECTRONICS LTD.

CORRECTION OF IMMATERIAL ERRORS

(UNAUDITED)

The impact of correcting the immaterial errors on the Company’s Condensed Consolidated Statements of Operations is as follows:

	For the Quarter Ended						For the Year Ended
	September 25, 2009						September 25, 2009
	Amounts Previously Reported			As Corrected			Amounts Previously Reported			As Corrected
	(in millions, except per share data)
Income tax (expense) benefit	$	(1	)	$	(3	)	$	576		$	567
Income (loss) from continuing operations	84			82			(3,094		)	(3,103		)
Net income (loss)	94			92			(3,250		)	(3,259		)
Net income (loss) attributable to Tyco Electronics Ltd.	93			91			(3,256		)	(3,265		)
Amounts attributable to Tyco Electronics Ltd.:
Income (loss) from continuing operations	83			81			(3,100		)	(3,109		)
Net income (loss)	93			91			(3,256		)	(3,265		)
Basic earnings (loss) per share attributable to Tyco Electronics Ltd.:
Income (loss) from continuing operations	$	0.18		$	0.18		$	(6.75	)	$	(6.77	)
Net income (loss)	0.20			0.20			(7.09		)	(7.11		)
Diluted earnings (loss) per share attributable to Tyco Electronics Ltd.:
Income (loss) from continuing operations	$	0.18		$	0.18		$	(6.75	)	$	(6.77	)
Net income (loss)	0.20			0.20			(7.09		)	(7.11		)

The impact of correcting the immaterial errors on the Company’s Condensed Consolidated Balance Sheets is as follows:

	September 25, 2009
	Amounts Previously Reported			As Corrected
	(in millions)
Assets
Deferred income taxes	$	2,518		$	2,397
Receivable from Tyco International Ltd. and Covidien plc	1,211			1,130
Total Assets	16,220			16,018
Liabilities and Shareholders’ Equity
Income taxes	2,312			2,130
Total Liabilities	9,194			9,012
Shareholders’ Equity:
Contributed surplus	8,135			8,105
Accumulated deficit	(2,274		)	(2,264		)
Total Tyco Electronics Ltd. shareholders’ equity	7,016			6,996
Total Shareholders’ Equity	7,026			7,006
Total Liabilities and Shareholders’ Equity	16,220			16,018

The impact of correcting the immaterial errors on the Company’s Condensed Consolidated Statements of Cash Flows is as follows:

	For the Quarter Ended				For the Year Ended
	September 25, 2009				September 25, 2009
	Amounts Previously Reported		As Corrected		Amounts Previously Reported			As Corrected
	(in millions)
Cash Flows From Operating Activities:
Net income (loss)	$	94	$	92	$	(3,250	)	$	(3,259	)
Income (loss) from continuing operations	84		82		(3,094		)	(3,103		)
Adjustments to reconcile net cash provided by operating activities:
Deferred income taxes	109		111		(583		)	(574		)

EX-99.2

Exhibit 99.2

Q4 2010 Earnings Call October 28, 2010

Forward-Looking Statements and Other Disclosure Matters Forward-Looking Statements -- This presentation contains certain “forward-looking statements” within the meaning of the United States 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. Tyco Electronics has no intention and is under no obligation to update or alter (and expressly disclaims any such intention or obligation to do so) its 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 and the acquisition of ADC Telecommunications, Inc. (ADC). Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, business, economic, competitive and regulatory risks, such as developments in the credit markets; conditions affecting demand for products, particularly the automotive industry and the telecommunications, computer and consumer electronics industries; future goodwill impairment; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; political, economic and military instability in countries in which we operate; compliance with current and future environmental and other laws and regulations; the possible effects on us of changes in tax laws, tax treaties and other legislation; the risk that the ADC transaction may not be consummated; the risk that a regulatory approval that may be required for the transaction is not obtained or is obtained subject to conditions that are not anticipated; the risk that ADC will not be integrated successfully into Tyco Electronics; and the risk that revenue opportunities, cost savings and other anticipated synergies from the transaction may not be fully realized or may take longer to realize than expected. More detailed information about these and other factors is set forth in Tyco Electronics’ Annual Report on Form 10-K for the fiscal year ended September 25, 2009 and Quarterly Reports on Form 10-Q for the quarterly periods ended December 25, 2009, March 26, 2010, and June 25, 2010, as well as in Tyco Electronics’ Current Reports on Form 8-K and other reports filed by Tyco Electronics with the Securities and Exchange Commission. Non-GAAP 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 measure, in this presentation. Correction of Immaterial Errors -- During the third quarter of fiscal 2010, the company identified certain errors in its accounting for income taxes. The company corrected these errors in the affected prior periods. Please refer to the appendix for additional information regarding the correction of immaterial errors.

Summary Strong Q4 Results Top end of Q4 FY10 guidance for sales and adjusted EPS Adjusted EPS of $0.72, up from $0.30 in prior year Adjusted operating margin of 14.2%, up 600 bps year-on-year Free cash flow of $443 million FY 2010 results show broad growth and improvement in operating leverage Sales increased 18% vs. prior year, adjusted operating margin of 13.7% Free cash flow of $1.4 billion, up 15% over 2009 ~60% returned to shareholders Board approved increase to share repurchase program and plan to increase dividend by 12.5% Strong Finish to a Very Good Year

Q4 Revenue Summary Year-on-year and sequential increases across all segments, excluding expected decline in SubCom ($ in Millions) Segment Q4 FY10 Q4 FY09 Q3 FY10 Y/Y Change Q/Q Change Electronic Components 2,101 $ 1,632 $ 2,074 $ 29% 1% Network Solutions 469 436 442 8% 6% Specialty Products 422 362 398 17% 6% Total Excluding SubCom 2,992 $ 2,429 $ 2,914 $ 23% 3% Subsea Communications 145 268 170 (46%) (15%) Total 3,137 $ 2,698 $ 3,084 $ 16% 2% Consumer vs. Industrial/ Infrastructure Markets Consumer 1,434 $ 1,197 $ 1,459 $ 20% (2%) Percent of Total 46% 44% 47% Industrial/ Infrastructure 1,703 1,501 1,625 13% 5% Percent of Total 54% 56% 53% Total 3,137 $ 2,698 $ 3,084 $ 16% 2%

Q4 Revenue by Segment Electronic Components - Revenue $2,101 Million Network Solutions - Revenue $469 Million Automotive up 26% vs. prior year. Down 3% vs. Q3 due to seasonally lower production in EMEA and China. DataComm up 51% vs. prior year, and 9% vs. Q3 due to continued growth in enterprise/ broadband spending and program wins. Industrial up 56% vs. prior year, and 5% vs. Q3 driven by factory automation particularly in Asia. Appliance up 29% vs. prior year reflecting strong demand in Asia. Down 5% vs. Q3. Computer up 15% vs. prior year. Down 3% vs. Q3 due to short-term supply chain adjustments. Consumer Devices down 9% vs. prior year, and flat vs. Q3. Energy up 11% vs. prior year. Up 9% vs. Q3 due to increased investment levels in Europe and normal seasonality. Service Providers up 28% vs. prior year due to increasing spending by carriers in Europe. Up 4% vs. Q3 due to growth in Asia and Americas. Enterprise Networks up 12% vs. prior year reflecting increased spending in Europe and Asia. Up 3% vs. Q3 due to growth in Asia and Americas. ($ in Millions) ($ in Millions) Revenue changes are on an organic basis. Organic sales growth is a non-GAAP measure; see Appendix for description and reconciliation. Energy $205 Enterprise Networks $120 Service Providers $138 Other $6

Specialty Products - Revenue $422 Million Subsea Communications - Revenue $145 Million Revenue down 46% vs. prior year, and 14% sequentially. Backlog at quarter-end of $475M. Solid pipeline. Expect 2011 revenue of $600 to $700 million. Q4 Revenue by Segment (cont.) Aerospace, Defense & Marine up 16% vs. prior year, and 3% vs. Q3 due to growth in commercial aircraft as a result of increasing OEM production levels. Touch Systems up 30% vs. prior year, and 10% vs. Q3 due to continued improvement in retail and industrial markets. Circuit Protection up 13% vs. prior year, and 1% vs. Q3 due to growth in portable device applications and automotive market. Medical up 12% vs. prior year, and 5% vs. Q3 as spending on capital equipment and disposable devices continues to increase as well as program wins. ($ in Millions) Revenue changes are on an organic basis. ($ in Millions) Medical $66 Aerospace Defense & Marine $167 Circuit Protection $77 Touch Systems $112 $583 $37 $475 $(145) $0 $100 $200 $300 $400 $500 $600 $700 Jun-10 Orders Q4 Sales Sep-10 Subsea Communications Backlog

Q4 Financial Summary ($ in Millions, except per share amounts) Adjusted Operating Income, Adjusted Operating Margin and Adjusted EPS are non-GAAP measures; see Appendix for description and reconciliation. Q4 FY10 Q4 FY09 Q3 FY10 Net Sales 3,137 $ 2,698 $ 3,084 $ Operating Income 382 $ 176 $ 467 $ Restructuring & Other Charges 56 45 3 Other Items 8 - (7) Adj. Operating Income 446 $ 221 $ 463 $ Operating Margin 12.2% 6.5% 15.1% Adjusted Operating Margin 14.2% 8.2% 15.0% GAAP Earnings Per Share 0.56 $ 0.18 $ 0.72 $ Restructuring & Other Charges 0.10 0.08 0.01 Retirement of Debt - (0.04) - Tax & Other Items, net 0.05 0.09 (0.04) Acquisition & Integration Costs 0.02 - - Adjusted EPS 0.72 $ 0.30 $ 0.70 $ 

Q4 Operating Results Gross Margin Performance Continued strong fall-through due to productivity gains and prior year footprint actions Maintained sequential Gross Margin despite expected decline of ~50 basis points due to SubCom project execution in Q3 Expect gross margin of 31%+ for Q1 Consistently delivering 31+% gross margins Operating Expense Performance Operating Expenses at expected levels Investing in engineering Expect RD&E of ~5% and SG&A of ~12.5% in Q1 ($ in Millions) Operating Expenses Q4 FY10 Q4 FY09 Q3 FY10 RD&E 158 $ 131 $ 147 $ SG&A 389 338 375 Total 547 $ 469 $ 522 $ % of Sales RD&E 5.0% 4.9% 4.8% SG&A 12.4% 12.5% 12.2% Gross Margin Percentage 23% 26% 29% 32% 35% GM % 29% 25% 29% 32% 32% 32% FY 2008 FY 2009 Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10

Q4 Other Items Net Interest Expense Benefit of lower average debt levels Adjusted Other Income Relates to Tax Sharing Agreement Expect ~$14 million in Q1 Income Taxes on Adjusted Income Expect adjusted tax rate of ~26% for Q1 Adjusted Other Income, Adjusted Income Tax Expense and Adjusted Effective Tax Rate are non-GAAP measures; see Appendix for description and reconciliation. ($ in Millions) Q4 FY10 Q4 FY09 Interest Expense, Net (34) $ (36) $ Other Income (Expense), Net 52 $ (55) $ Adj. Other Income, Net 12 $ 9 $ Income Tax Expense (145) $ (3) $ Effective Tax Rate 36% 4% Adj. Income Tax Expense (96) $ (58) $ Adj. Effective Tax Rate 23% 29%

Q4 Free Cash Flow and Working Capital Q4 Free Cash Flow driven by: Strong earnings levels and continued solid working capital management Working capital days metrics flat vs. Q3 Capital spending of 4% of sales Expect capital spending of ~4.5% of sales in 2011 Restructuring Q4 cash spending of $38 million Program near conclusion Expect ~$50 million of cash spending in Q1 Expect ~$130 million of cash spending in 2011 Excludes potential ADC related expenditures Expect 2011 Free Cash Flow in excess of $1.2 Billion ($ in Millions) Free Cash Flow is a non-GAAP measure; see Appendix for description. Q4 FY10 Q4 FY09 Cash from Continuing Operations 474 $ 549 $ Capital Expenditures (136) (58) Proceeds on Asset Sales 11 4 Pre-separation Litigation Payments 25 52 Voluntary Pension Contributions 69 61 Free Cash Flow 443 $ 608 $ Restructuring Cash Spend 38 $ 60 $ Cash Taxes 83 $ 34 $ A/R - $ 2,259 $ 1,975 $ Days Sales Outstanding 65 66 Inventory (ex. CIP) - $ 1,501 $ 1,316 $ Days on Hand 63 59 Accounts Payable - $ 1,386 $ 1,068 $ Days Outstanding 58 48

Q4 Liquidity and Debt ($ in Millions) Liquidity and use of cash: Dividends $0.16 per share paid in September Board recommending shareholders approve dividend increase of 12.5% to $0.18 per share starting Q3 FY11 Share Repurchase Repurchased ~4M shares in Q4 FY10 Board approved $750M increase in repurchase program ADC acquisition expected to be funded with ~$1 billion of cash, remainder with debt Liquidity Summary Q4 FY10 Q4 FY09 Beginning Cash Balance 1,815 $ 1,258 $ Free Cash Flow 443 608 Debt Reduction - (141) Dividends (71) (73) Share Repurchase (115) - Pre-separation Litigation Payments (25) (52) Voluntary Pension Contribution (69) (61) (Acquisition)/ Divestiture of Businesses (20) - Other 32 (18) Ending Cash Balance 1,990 $ 1,521 $ Total Debt 2,413 $ 2,417 $ 

Segment Change – Effective Q1 FY2011 Current Segments - 4 New Segments - 3 Aligning Similar Businesses & Streamlining Management Structure Dollar amounts are FY10 full year. See Appendix for further end market detail. * Sales related to pending ADC acquisition are not included in dollar amounts shown above Aerospace, Defense & Marine Automotive Electronic Components $8.1 Billion Network Solutions $1.7 Billion Specialty Products $1.6 Billion Subsea Communications $0.7 Billion Transportation Connectivity $4.8 Billion Automotive Aerospace, Defense & Marine Communications & Industrial $4.8 Billion Solutions Non-Auto EC Businesses SPG Businesses (Ex-AD&M) Network Solutions $2.5 Billion Existing Networks Segment Subsea Communications ADC Businesses upon closing *

Q4 Orders Summary Order rates have stabilized at ~$3.1 billion level ($ in Millions) Segment Q4 FY09 Q1 FY10 Q2 FY10 Q3 FY10 Q4 FY10 FY10 Electronic Components 1,794 $ 2,111 $ 2,203 $ 2,255 $ 2,076 $ 8,645 $ Book to Bill 1.10 1.11 1.11 1.09 0.99 1.07 Network Solutions 423 426 413 457 485 1,782 Book to Bill 0.97 1.01 1.05 1.03 1.04 1.03 Specialty Products 327 383 399 426 389 1,598 Book to Bill 0.90 1.08 1.08 1.07 0.91 1.03 Total Excluding SubCom 2,544 $ 2,921 $ 3,015 $ 3,139 $ 2,950 $ 12,025 $ Book to Bill 1.05 1.09 1.10 1.07 0.99 1.06 Subsea Communications 353 42 43 126 21 231 Book to Bill 1.32 0.21 0.20 0.74 0.14 0.32 Total 2,897 $ 2,963 $ 3,058 $ 3,264 $ 2,971 $ 12,256 $ Book to Bill 1.07 1.02 1.04 1.06 0.95 1.02

Q1 & Full Year 2011 Outlook* Adjusted EPS * Assumes current commodity rates and currency exchange rates Organic growth driven by: Consumer and industrial/infrastructure markets, excluding SubCom, up 11 to 15% vs. 2010 SubCom ~$150 million, down ~25% vs. 2010 Maintain gross margin at ~31%+ Operating margin ~14% Excludes pending ADC Acquisition Q1 Outlook* Full Year 2011 Outlook* Key Assumptions: Global automotive production of 74 million vehicles vs. 72 million in 2010 Global GDP ~ 2-3% SubCom $600 to 700 million vs. $724 million in 2010 Includes 53rd week ~$240 million in sales and $0.05 of EPS Excludes pending ADC acquisition Adjusted EPS ($ in Millions, except per share amounts) Sales $3,050 to $3,150 Growth vs Prior Year: Actual 5% 9% Organic 9% 12% Growth vs Prior Year 40% 49% ($ in Millions, except per share amounts) Sales $12,800 to $13,200 Growth vs Prior Year: Actual 6% 9% Organic 4% 7% Growth vs Prior Year 12% 20%

 Q & A

 Appendix

Non-GAAP Measures and Other Disclosure Matters Non-GAAP Measures “Organic Sales Growth,” “Adjusted Operating Income,” “Adjusted Operating Margin,” “Adjusted Other Income, Net,” “Adjusted Income Tax (Expense) Benefit,” “Adjusted Effective Tax Rate,” “Adjusted Income from Continuing Operations,” “Adjusted Earnings Per Share,” and “Free Cash Flow” (FCF) are non-GAAP measures and should not be considered replacements for GAAP* results. “Organic Sales Growth” is a useful measure used by the company to measure the underlying results and trends in the business. The difference between reported net sales growth (the most comparable GAAP measure) and Organic Sales Growth (the non-GAAP measure) consists of the impact from foreign currency, acquisitions and divestitures. Organic Sales Growth is a useful measure of the company’s performance because it excludes items that: i) are not completely under management’s control, such as the impact of foreign currency exchange; or ii) do not reflect the underlying growth of the company, such as acquisition and divestiture activity. The limitation of this measure is that it excludes items that have an impact on the company’s sales. This limitation is best addressed by using organic sales growth in combination with the GAAP results. See the accompanying tables to this presentation for the reconciliation presenting the components of Organic Sales Growth. The company has presented its operating income before special items including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, and other income or charges (“Adjusted Operating Income”). The company utilizes Adjusted Operating Income to assess segment level core operating performance and to provide insight to management in evaluating segment operating plan execution and underlying market conditions. It is also a significant component in the company’s incentive compensation plans. Adjusted Operating Income is a useful measure for investors because it better reflects the company’s underlying operating results, trends and the comparability of these results between periods. The difference between Adjusted Operating Income and operating income (the most comparable GAAP measure) consists of the impact of charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs and other income or charges that may mask the underlying operating results and/or business trends. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the company’s reported operating income. This limitation is best addressed by using Adjusted Operating Income in combination with operating income (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease on reported results. The company has presented its operating margin before special items including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, and other income or charges (“Adjusted Operating Margin”). The company presents Adjusted Operating Margin before special items to give investors a perspective on the underlying business results. Because the company cannot predict the amount and timing of such items and the associated charges or gains that will be recorded in the company’s financial statements, it is difficult to include the impact of those items in the forecast. The company has presented other income, net before special items including tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items and the gain on retirement of debt (“Adjusted Other Income, Net”). The company presents Adjusted Other Income, Net as it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. The difference between Adjusted Other Income, Net and other income, net (the most comparable GAAP measure) consists of tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items and the gain on retirement of debt. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease other income, net. This limitation is best addressed by using Adjusted Other Income, Net in combination with other income, net (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts. The company has presented income tax (expense) benefit after adjusting for the tax effect of special items including charges related to restructuring and other charges, impairment charges, acquisition and integration costs, other income or charges, and certain significant special tax items (“Adjusted Income Tax (Expense) Benefit”). The company presents Adjusted Income Tax (Expense) Benefit to provide investors further information regarding the tax effects of adjustments used in determining the non-GAAP financial measure Adjusted Income from Continuing Operations (as defined below). The difference between Adjusted Income Tax (Expense) Benefit and income tax (expense) benefit (the most comparable GAAP measure) is the tax effect of adjusting items and certain significant special tax items. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease income tax (expense) benefit. This limitation is best addressed by using Adjusted Income Tax (Expense) Benefit in combination with income tax (expense) benefit (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts. * U.S. Generally Accepted Accounting Principles

Non-GAAP Measures and Other Disclosure Matters (cont.) The company has presented effective income tax rate after adjusting for the tax effect of special items including charges related to restructuring and other charges, impairment charges, acquisition and integration costs, other income or charges, and certain significant special tax items (“Adjusted Effective Tax Rate”). The company presents Adjusted Effective Tax Rate to provide investors further information regarding the tax rate effects of adjustments used in determining the non-GAAP financial measure Adjusted Income from Continuing Operations (as defined below). The difference between Adjusted Effective Tax Rate and effective income tax rate (the most comparable GAAP measure) is the tax rate effect of the adjusting items and certain significant special tax items. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the effective income tax rate. This limitation is best addressed by using Adjusted Effective Tax Rate in combination with effective income tax rate (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts. The company has presented income from continuing operations attributable to Tyco Electronics Ltd. before special items including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items, certain significant special tax items, other income or charges, and, if applicable, related tax effects (“Adjusted Income from Continuing Operations”). The company presents Adjusted Income from Continuing Operations as it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. Adjusted Income from Continuing Operations provides additional information regarding the company’s underlying operating results, trends and the comparability of these results between periods. The difference between Adjusted Income from Continuing Operations and income from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) consists of the impact of charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items, certain significant special tax items, other income or charges, and, if applicable, related tax effects. The limitation of this measure is that it excludes the financial impact of items that would otherwise either increase or decrease the company’s reported results. This limitation is best addressed by using Adjusted Income from Continuing Operations in combination with income from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease in reported amounts. The company has presented diluted earnings per share from continuing operations attributable to Tyco Electronics Ltd. before special items, including charges or income related to legal settlements and reserves, restructuring and other charges, impairment charges, acquisition and integration costs, tax sharing income related to certain proposed adjustments to prior period tax returns and other tax items, certain significant special tax items, other income or charges, and, if applicable, related tax effects (“Adjusted Earnings Per Share”). The company presents Adjusted Earnings Per Share because it believes that it is appropriate for investors to consider results excluding these items in addition to its results in accordance with GAAP. The company believes such a measure provides a picture of its results that is more comparable among periods since it excludes the impact of special items, which may recur, but tend to be irregular as to timing, thereby making comparisons between periods more difficult. This limitation is best addressed by using Adjusted Earnings Per Share in combination with diluted earnings per share from continuing operations attributable to Tyco Electronics Ltd. (the most comparable GAAP measure) in order to better understand the amounts, character and impact of any increase or decrease on reported results. “Free Cash Flow” (FCF) is a useful measure of the company’s cash generation which is free from any significant existing obligation. The difference between cash flows from operating activities (the most comparable GAAP measure) and FCF (the non-GAAP measure) consists mainly of significant cash outflows that the company believes are useful to identify. FCF permits management and investors to gain insight into the amount that management employs to measure cash that is free from any significant existing obligation. The difference reflects the impact from: net capital expenditures, voluntary pension contributions, and cash impact of special items. Net capital expenditures are subtracted because they represent long-term commitments. Voluntary pension contributions are subtracted from the GAAP measure because this activity is driven by economic financing decisions rather than operating activity. The company forecasts its cash flow results excluding any voluntary pension contributions because it has not yet made a determination about the amount and timing of any such future contributions. In addition, the company’s forecast excludes the cash impact of special items because the company cannot predict the amount and timing of such items.

Non-GAAP Measures and Other Disclosure Matters (cont.) The limitation associated with using FCF is that it subtracts cash items that are ultimately within management’s and the Board of Directors’ discretion to direct and that therefore may imply that there is less or more cash that is available for the company's programs than the most comparable GAAP measure. This limitation is best addressed by using FCF in combination with the GAAP cash flow results. FCF as presented herein may not be comparable to similarly-titled measures reported by other companies. The measure should be used in conjunction with other GAAP financial measures. Investors are urged to read the company’s financial statements as filed with the Securities and Exchange Commission. Because the company does not predict the amount and timing of special items that might occur in the future, and its forecasts are developed at a level of detail different than that used to prepare GAAP-based financial measures, the company does not provide reconciliations to GAAP of its forward-looking financial measures. Correction of Immaterial Errors During the third quarter of fiscal 2010, the company identified certain errors in its accounting for income taxes. These errors related to the adoption of the uncertain tax position provisions of ASC 740, Income Taxes, in fiscal 2008 and data utilized in the determination of the company’s income tax provision in fiscal 2005 through fiscal 2009. The company evaluated the effects of these errors individually and in the aggregate and determined that its prior period financial statements are not materially misstated. However, the company determined that the cumulative effect of correcting these errors in fiscal 2010 would be material to the fiscal 2010 financial statements. Therefore, the company corrected these errors in the affected prior periods. More information related to these corrections is provided in the schedules in this appendix.

Q1 Outlook Detail * Assumes current commodity rates and currency exchange rates ($ in Millions, except per share amounts) Q1 Outlook* Q1 FY10 Q4 FY10 Sales $3,050 to $3,150 $2,892 $3,137 Operating Income $404 to $429 $269 $382 Restructuring and Other Charges ($9) ($63) ($56) Acquisition and Integration Costs ($4) - ($8) Adjusted Operating Income $417 to $442 $332 $446 GAAP Diluted EPS $0.63 to $0.67 $0.37 $0.56 Adjusted Diluted EPS $0.66 to $0.70 $0.47 $0.72

Segment Change – Effective Q1 FY2011 Current Segments - 2010 Reported New Segments - 2010 Revenue Electronic Components (EC): Transportation Connectivity Automotive $4,097 Automotive $4,176 DataComm 986 Aerospace, Defense, and Marine 623 Industrial 889 Total $4,799 Appliance 582 Computer 491 Consumer Devices 387 Communications & Industrial Solutions Other 638 Industrial $1,405 (1) Total $8,070 DataComm 957 Consumer Devices 826 (2) Network Solutions: Appliance 754 Energy $772 Computer 489 Service Providers 482 Touch Systems 389 Enterprise Networks 447 Total $4,820 Other 26 Total $1,727 Network Solutions Specialty Products (SPG): Energy $754 Aerospace, Defense, and Marine $623 Subsea Communications 724 Touch Systems 389 Service Providers 513 Circuit Protection 289 Enterprise Networks 460 Medical 247 Total $2,451 Other 1 Total $1,549 Total $12,070 Subsea Communications $724 Total $12,070 (1) (2) Includes Industrial Machinery, Commercial & Building Equipment, Rail & Mass Transit, Medical, Alternative Energy and Lighting Includes Mobile Phone, Consumer Electronics, Circuit Protection and Business & Retail Equipment

Net Sales Growth Reconciliation – Q4 10 vs. Q4 09 Translation (2) Divestiture Electronic Components (3): Automotive 215 $ 25.7 % (33) $ - $ 182 $ 21.7 % 49 % DataComm 96 51.0 1 - 97 51.6 14 Industrial 91 55.6 (8) - 83 50.9 11 Appliance 33 29.0 1 - 34 29.6 7 Computer 17 15.3 2 - 19 17.4 6 Consumer Devices (9) (8.5) - - (9) (8.7) 4 Other 69 60.2 (6) - 63 54.3 9 Total 512 31.4 (43) - 469 28.7 100 % Network Solutions (3): Energy 22 10.6 (10) (15) (3) (1.4) 44 Service Providers 32 28.0 (7) - 25 22.1 29 Enterprise Networks 13 12.1 (1) - 12 11.1 26 Other - (8.5) (1) - (1) (14.3) 1 Total 67 15.3 (19) (15) 33 7.6 100 % Specialty Products (3): Aerospace, Defense, and Marine 24 15.5 (5) - 19 12.8 40 Touch Systems 26 30.0 (2) - 24 27.3 26 Circuit Protection 9 13.3 1 - 10 14.9 18 Medical 7 12.0 - - 7 11.9 16 Total 66 18.1 (6) - 60 16.6 100 % Subsea Communications (122) (45.6) (1) - (123) (45.9) Total 523 $ 19.4 % (69) $ (15) $ 439 $ 16.3 % Change in Net Sales for the Quarter Ended September 24, 2010 Quarter Ended Net Sales for the ($ in millions) September 24, 2010 versus Net Sales for the Quarter Ended September 25, 2009 Organic (1) Total Percentage of Segment's Total (1) Represents the change in net sales resulting from volume and price changes, before consideration of acquisitions, divestitures, and the impact of changes in foreign currency exchange rates. Organic net sales growth is a non-GAAP measure. See description of non-GAAP measures contained in this appendix. (2) Represents the change in net sales resulting from changes in foreign currency exchange rates. (3) Industry end market information about net sales is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

Net Sales Growth Reconciliation – Q4 10 vs. Q3 10 Translation (2) Electronic Components (3): Automotive (28) $ (2.7) % 10 $ (18) $ (1.7) % 49 % DataComm 23 9.1 5 28 10.9 14 Industrial 11 4.8 1 12 5.1 11 Appliance (8) (5.1) 2 (6) (3.9) 7 Computer (4) (3.2) 2 (2) (1.5) 6 Consumer Devices - - 1 1 1.1 4 Other 13 7.3 (1) 12 7.2 9 Total 7 0.3 20 27 1.3 100 % Network Solutions (3): Energy 17 8.7 - 17 9.0 44 Service Providers 5 3.8 1 6 4.5 29 Enterprise Networks 4 3.1 - 4 3.4 26 Other (1) (10.1) 1 - - 1 Total 25 5.5 2 27 6.1 100 % Specialty Products (3): Aerospace, Defense, and Marine 6 3.2 - 6 3.7 40 Touch Systems 10 9.9 1 11 10.9 26 Circuit Protection 1 1.0 2 3 4.1 18 Medical 3 4.7 1 4 6.5 16 Total 20 4.8 4 24 6.0 100 % Subsea Communications (24) (14.1) (1) (25) (14.7) Total 28 $ 0.9 % 25 $ 53 $ 1.7 % Percentage of Segment's Total Change in Net Sales for the Quarter Ended September 24, 2010 Net Sales for the versus Net Sales for the Quarter Ended June 25, 2010 Quarter Ended (1) Represents the change in net sales resulting from volume and price changes, before consideration of acquisitions, divestitures, and the impact of changes in foreign currency exchange rates. Organic net sales growth is a non-GAAP measure. See description of non-GAAP measures contained in this appendix. (2) Represents the change in net sales resulting from changes in foreign currency exchange rates. (3) Industry end market information about net sales is presented consistently with our internal management reporting and may be periodically revised as management deems necessary. September 24, 2010 ($ in millions) Organic (1) Total

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 24, 2010 Acquisition Restructuring and Integration and Other Tax Adjusted U.S. GAAP Costs Charges, Net Items (1) (Non-GAAP) (2) Operating Income: Electronic Components 244 $ - $ 52 $ - $ 296 $ Network Solutions 55 8 3 - 66 Specialty Products 64 - - - 64 Subsea Communications 19 - 1 - 20 Total 382 $ 8 $ 56 $ - $ 446 $ Operating Margin 12.2% 14.2% Other Income, Net 52 $ - $ - $ (40) $ 12 $ Income Tax Expense (145) $ - $ (13) $ 62 $ (96) $ Effective Tax Rate 36.3% 22.6% Income from Continuing Operations Attributable to Tyco Electronics Ltd. 253 $ 8 $ 43 $ 22 $ 326 $ Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd. 0.56 $ 0.02 $ 0.10 $ 0.05 $ 0.72 $ (2) See description of non-GAAP measures contained in this appendix. Adjustments ($ in millions, except per share data) (1) Includes income tax expense related to certain proposed adjustments to prior year tax returns and income tax benefits associated with the settlement of an audit of prior year tax returns as well as the related impact to other income pursuant to the Tax Sharing Agreement with Tyco International and Covidien.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 25, 2009 Restructuring and Other Tax Retirement Adjusted U.S. GAAP Charges, Net (1) Items (2) of Debt (Non-GAAP) (3) Operating Income: Electronic Components 38 $ 24 $ - $ - $ 62 $ Network Solutions 37 14 - - 51 Specialty Products 47 4 - - 51 Subsea Communications 54 3 - - 57 Total 176 $ 45 $ - $ - $ 221 $ Operating Margin 6.5% 8.2% Other Income (Expense), Net (55) $ - $ 86 $ (22) $ 9 $ Income Tax Expense (3) $ (9) $ (46) $ - $ (58) $ Effective Tax Rate 3.5% 29.4% Income from Continuing Operations Attributable to Tyco Electronics Ltd. 81 $ 36 $ 40 $ (19) $ 138 $ Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd. 0.18 $ 0.08 $ 0.09 $ (0.04) $ 0.30 $ (3) See description of non-GAAP measures contained in this appendix. ($ in millions, except per share data) (1) Includes $46 million recorded in net restructuring and other charges and a $1 million credit recorded in cost of sales. Adjustments (2) Includes an income tax benefit primarily related to proposed adjustments to prior year tax returns, and charges to other expense pursuant to the Tax Sharing Agreement with Tyco International and Covidien.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended June 25, 2010 Restructuring and Other Tax Other Items, Adjusted U.S. GAAP Charges, Net Items (1) Net (2) (Non-GAAP) (3) Operating Income: Electronic Components 298 $ 4 $ - $ - $ 302 $ Network Solutions 60 (1) - - 59 Specialty Products 66 1 - - 67 Subsea Communications 36 (1) - - 35 Pre-separation litigation income 7 - - (7) - Total 467 $ 3 $ - $ (7) $ 463 $ Operating Margin 15.1% 15.0% Other Income, Net 42 $ - $ (33) $ - $ 9 $ Income Tax Expense (144) $ - $ 26 $ - $ (118) $ Effective Tax Rate 30.3% 26.9% Income from Continuing Operations Attributable to Tyco Electronics Ltd. 330 $ 3 $ (7) $ (7) $ 319 $ Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd. 0.72 $ 0.01 $ (0.02) $ (0.02) $ 0.70 $ (3) See description of non-GAAP measures contained in this appendix. Adjustments (1) Includes income tax expense related to certain proposed adjustments to prior year tax returns and income tax benefits associated with the completion of an audit of prior year tax returns. Also includes the related impact to other income pursuant to the Tax Sharing Agreement with Tyco International and Covidien. (2) Consists of $7 million of income related to pre-separation securities litigation. ($ in millions, except per share data)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended December 25, 2009 Adjustments Restructuring and Other Adjusted U.S. GAAP Charges, Net (1) (Non-GAAP) (2) Operating Income: Electronic Components 163 $ 44 $ 207 $ Network Solutions 20 17 37 Specialty Products 51 - 51 Subsea Communications 35 2 37 Total 269 $ 63 $ 332 $ Operating Margin 9.3% 11.5% Other Income, Net 8 $ - $ 8 $ Income Tax Expense (69) $ (16) $ (85) $ Effective Tax Rate 28.5% 27.9% Income from Continuing Operations Attributable to Tyco Electronics Ltd. 172 $ 47 $ 219 $ Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd. 0.37 $ 0.10 $ 0.47 $ (1) Includes $66 million recorded in net restructuring and other charges and a $3 million credit recorded in cost of sales. (2) See description of non-GAAP measures contained in this appendix. ($ in millions, except per share data)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 24, 2010 Restructuring and Other Tax Other Items, Adjusted U.S. GAAP Charges, Net (1) Items (2) Net (3) (Non-GAAP) (4) Operating Income: Electronic Components 967 $ 108 $ - $ - $ 1,075 $ Network Solutions 177 19 - 8 204 Specialty Products 230 5 - - 235 Subsea Communications 135 2 - - 137 Pre-separation litigation income 7 - - (7) - Total 1,516 $ 134 $ - $ 1 $ 1,651 $ Operating Margin 12.6% 13.7% Other Income, Net 177 $ - $ (137) $ - $ 40 $ Income Tax Expense (493) $ (30) $ 134 $ - $ (389) $ Effective Tax Rate 31.6% 25.0% Income from Continuing Operations Attributable to Tyco Electronics Ltd. 1,059 $ 104 $ (3) $ 1 $ 1,161 $ Diluted Earnings per Share from Continuing Operations Attributable to Tyco Electronics Ltd. 2.32 $ 0.23 $ (0.01) $ 0.00 $ 2.54 $ (4) See description of non-GAAP measures contained in this appendix. (3) Consists of $8 million of acquisition and integration costs and $7 million of income related to pre-separation securities litigation. Adjustments (2) Includes income tax expense related to certain proposed adjustments to prior year tax returns and income tax benefits associated with the settlement of an audit of prior year tax returns as well as the related impact to other income pursuant to the Tax Sharing Agreement with Tyco International and Covidien. Also includes an income tax benefit recognized in connection with a reduction in the valuation allowance associated with certain tax loss carryforwards. ($ in millions, except per share data) (1) Includes $137 million recorded in net restructuring and other charges and a $3 million credit recorded in cost of sales.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 25, 2009 Restructuring and Other Impairment of Tax Other Items, Adjusted U.S. GAAP Charges, Net (1) Goodwill Items (2) Net (3) (Non-GAAP) (4) Operating Income (Loss): Electronic Components (3,716) $ 278 $ 3,435 $ - $ - $ (3) $ Network Solutions 133 56 - - - 189 Specialty Products 34 31 112 - 8 185 Subsea Communications 219 8 - - - 227 Pre-separation litigation charges (144) - - - 144 - Total (3,474) $ 373 $ 3,547 $ - $ 152 $ 598 $ Operating Margin NM (6) 5.8% Other Income (Expense), Net (48) $ - $ - $ 86 $ (22) $ 16 $ Income Tax (Expense) Benefit 567 $ (87) $ (523) $ (46) $ (3) $ (92) $ Effective Tax Rate 15.4% 19.6% Income (Loss) from Continuing Operations Attributable to Tyco Electronics Ltd. (3,109) $ 286 $ 3,024 $ 40 $ 130 $ 371 $ Diluted Earnings (Loss) per Share from Continuing Operations Attributable to Tyco Electronics Ltd. (5) (6.77) $ 0.62 $ 6.57 $ 0.09 $ 0.28 $ 0.81 $ (6) Not meaningful. (3) Consists of $144 million of charges related to the settlement of pre-separation securities litigation and $8 million of costs related to a product liability matter from several years ago recorded in selling, general, and administrative expenses. Also includes net gain related to retirement of debt of $19 million. (2) Includes an income tax benefit primarily related to proposed adjustments to prior year tax returns, and charges to other expense pursuant to the Tax Sharing Agreement with Tyco International and Covidien. (5) GAAP diluted shares excludes 1 million of non-vested restricted share awards and non-vested options as the inclusion of these securities would have been anti- dilutive. Such amounts are included in non-GAAP diluted shares. (4) See description of non-GAAP measures contained in this appendix. Adjustments (1) Includes $375 million recorded in net restructuring and other charges and a $2 million credit recorded in cost of sales. ($ in millions, except per share data)

Correction of Immaterial Errors Amounts Previously Reported As Corrected Amounts Previously Reported As Corrected Income tax (expense) benefit (1) $ (3) $ 576 $ 567 $ Income (loss) from continuing operations 84 82 (3,094) (3,103) Net income (loss) 94 92 (3,250) (3,259) Net income (loss) attributable to Tyco Electronics Ltd. 93 91 (3,256) (3,265) Amounts attributable to Tyco Electronics Ltd.: Income (loss) from continuing operations 83 81 (3,100) (3,109) Net income (loss) 93 91 (3,256) (3,265) Basic earnings (loss) per share attributable to Tyco Electronics Ltd.: Income (loss) from continuing operations 0.18 $ 0.18 $ (6.75) $ (6.77) $ Net income (loss) 0.20 0.20 (7.09) (7.11) Diluted earnings (loss) per share attributable to Tyco Electronics Ltd.: Income (loss) from continuing operations 0.18 $ 0.18 $ (6.75) $ (6.77) $ Net income (loss) 0.20 0.20 (7.09) (7.11) See discussion of the correction of immaterial errors contained in this appendix. The impact of correcting the immaterial errors on the Company's Condensed Consolidated Statements of Operations is as follows: For the Year Ended September 25, 2009 September 25, 2009 For the Quarter Ended ($ in millions, except per share data)