8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 27, 2022

TE CONNECTIVITY 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)

Mühlenstrasse 26, 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 (see General Instruction A.2. below):

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

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

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

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

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol	Name of each exchange on which registered
Common Shares, Par Value CHF 0.57	TEL	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 2.02. Results of Operations and Financial Condition

On July 27, 2022, TE Connectivity Ltd. (the “Company”) issued a press release reporting the Company’s third quarter results for fiscal 2022. 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 July 27, 2022 (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 July 27, 2022
99.2	Presentation - TE Connectivity Q3 2022 Earnings Call (July 27, 2022)
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 27, 2022	TE CONNECTIVITY LTD.
	By: /s/ Heath A. Mitts
	Name: Heath A. Mitts ​
	Title: Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

NEWS RELEASE

te.com

TE Connectivity announces third quarter results for fiscal year 2022

EPS growth and record sales above expectations, with growth across all segments

SCHAFFHAUSEN, Switzerland – July 27, 2022 – TE Connectivity Ltd. (NYSE: TEL) today reported results for the fiscal third quarter ended June 24, 2022.

Third Quarter Highlights

● Net sales were $4.1 billion, up 7% on a reported basis and 11% organically year over year, with strong growth across all segments.

● Orders of $4.2 billion with a book to bill of 1.02 and backlog up more than 20% year over year, reflecting continued strong customer demand.

● GAAP diluted earnings per share (EPS) from continuing operations were $1.83, up 5% year over year, and adjusted EPS were $1.86, up 4% year over year.

● Cash flow from operating activities was $579 million, with approximately $500 million returned to shareholders.

● Issued Connecting Our World Report, which highlights 30% reduction in absolute GHG emissions in fiscal year 2021 and other ESG achievements.

“I am pleased with our record third quarter performance and the strong execution by our global teams to once again deliver sales and EPS growth above expectations in what continues to be a dynamic macro environment,” said TE Connectivity CEO Terrence Curtin. “We saw broad growth across all segments, with every one of our businesses growing organically, demonstrating the strength and strategic positioning of our portfolio as we consistently expand our leadership in long-term growth and sustainability trends including electric vehicles, cloud computing, factory automation and renewable energy. We continue to outperform the market – both through content growth and share gains – as our customers seek out our technology and solutions to enable an increasingly connected and electrified world. Our orders remain strong, and I am confident in our ability to continue navigating broader macro challenges to effectively serve our customers and secure design wins that will drive future growth.”

Fourth Quarter FY22 Outlook

For the fourth quarter of fiscal 2022, the company expects net sales of approximately $4.2 billion, reflecting an approximate 10% increase on a reported basis and an approximate 15% increase on an organic basis year over year. GAAP EPS from continuing operations are expected to be approximately $1.79, down 25% year over year, with adjusted EPS of approximately $1.85, up 9% year over year. The outlook includes the impact of an extra week in the fourth quarter.

Information about TE Connectivity's use of non-GAAP financial measures is provided below. For reconciliations of these non-GAAP financial measures, see the attached tables.

Conference Call and Webcast

The company will hold a conference call today beginning at 8:30 a.m. ET. The dial-in information is provided here:

● At TE Connectivity's website: investors.te.com

● By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the dial-in number in the United States is (888) 330-3417 and for international callers, the dial-in number is (646) 960-0804

● A replay of the conference call will be available on TE Connectivity’s investor website at investors.te.comat 11:30 a.m. ET on July 27, 2022.

About TE Connectivity

TE Connectivity Ltd. (NYSE: TEL) is a global industrial technology leader creating a safer, sustainable, productive, and connected future. Our broad range of connectivity and sensor solutions, proven in the harshest environments, enable advancements in transportation, industrial applications, medical technology, energy, data communications, and the home. With more than 85,000 employees, including over 8,000 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.com and on LinkedIn, Facebook, WeChat and Twitter.

Non-GAAP Financial Measures

We present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financial measures in addition to results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial measures provide supplemental information and should not be considered replacements for results in accordance with GAAP. Management uses non-GAAP financial measures internally for planning and forecasting purposes and in its decision-making processes

related to the operations of our company. We believe these measures provide meaningful information to us and investors because they enhance the understanding of our operating performance, ability to generate cash, and the trends of our business. Additionally, we believe that investors benefit from having access to the same financial measures that management uses in evaluating our operations. The primary limitation of these measures is that they exclude the financial impact of items that would otherwise either increase or decrease our reported results. This limitation is best addressed by using these non-GAAP financial measures in combination with the most directly comparable GAAP financial measures in order to better understand the amounts, character, and impact of any increase or decrease in reported amounts. These non-GAAP financial measures may not be comparable to similarly-titled measures reported by other companies.

The following provides additional information regarding our non-GAAP financial measures:

●Organic Net Sales Growth (Decline) – represents net sales growth (decline) (the most comparable GAAP financial measure) excluding the impact of foreign currency exchange rates, and acquisitions and divestitures that occurred in the preceding twelve months, if any. Organic Net Sales Growth (Decline) is a useful measure of our performance because it excludes items that are not completely under management’s control, such as the impact of changes in foreign currency exchange rates, and items that do not reflect the underlying growth of the company, such as acquisition and divestiture activity. This measure is a significant component in our incentive compensation plans.

●Adjusted Operating Income and Adjusted Operating Margin – represent operating income and operating margin, respectively, (the most comparable GAAP financial measures) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, and other income or charges, if any. We utilize these adjusted measures in combination with operating income and operating margin to assess segment level operating performance and to provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted Operating Income is a significant component in our incentive compensation plans.

●Adjusted Other Income (Expense), Net – represents net other income (expense) (the most comparable GAAP financial measure) before special items including tax sharing income related to adjustments to prior period tax returns and other items, if any.

●Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any.

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

●Adjusted Earnings Per Share – represents diluted earnings per share from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, tax sharing income related to adjustments to prior period

tax returns and other tax items, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is a significant component in our incentive compensation plans.

●Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash provided by operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to identify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to monitor and evaluate cash flows generated from our operations. Free Cash Flow is defined as net cash provided by operating activities excluding voluntary pension contributions and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certain special items, including net payments related to pre-separation tax matters and cash paid (collected) pursuant to collateral requirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment. These items are subtracted because they represent long-term commitments. In the calculation of Free Cash Flow, we subtract certain cash items that are ultimately within management’s and the Board of Directors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non-discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow.

Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this release include statements addressing our future financial condition and operating results, and the impact on our operations resulting from the coronavirus disease 2019 (“COVID-19”). Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of COVID-19 negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affecting demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate, including continuing military conflict between Russia and Ukraine resulting from Russia’s invasion of Ukraine or escalating tensions in surrounding countries; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax

treaties and other legislation, including the effects of Swiss tax reform. In addition, the extent to which COVID-19 will impact our business and our financial results will depend on future developments, which are highly uncertain and cannot be predicted. Such developments may include the geographic spread of the virus, the severity of the virus, the duration of the outbreak, the impact on our suppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to the outbreak in jurisdictions in which we operate, and the possible impact on the global economy and local economies in which we operate. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 24, 2021 as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission.

# # #

Contacts: Media Relations: Rachel Quimby TE Connectivity 610-893-9593 Rachel.Quimby@te.com Investor Relations: Sujal Shah TE Connectivity 610-893-9790 Sujal.Shah@te.com

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	For the Quarters Ended				For the Nine Months Ended
	June 24,		June 25,		June 24,		June 25,
	2022		2021		2022		2021
	(in millions, except per share data)
Net sales	$	4,097	$	3,845	$	11,922	$	11,105
Cost of sales		2,769		2,577		8,027		7,481
Gross margin		1,328		1,268		3,895		3,624
Selling, general, and administrative expenses		393		366		1,172		1,128
Research, development, and engineering expenses		179		168		539		504
Acquisition and integration costs		11		9		29		23
Restructuring and other charges, net		26		11		59		195
Operating income		719		714		2,096		1,774
Interest income		3		3		9		14
Interest expense		(18)		(14)		(48)		(42)
Other income, net		4		2		24		5
Income from continuing operations before income taxes		708		705		2,081		1,751
Income tax expense		(116)		(124)		(362)		(290)
Income from continuing operations		592		581		1,719		1,461
Income (loss) from discontinued operations, net of income taxes		2		(1)		1		6
Net income	$	594	$	580	$	1,720	$	1,467
Basic earnings per share:
Income from continuing operations	$	1.84	$	1.76	$	5.31	$	4.41
Income from discontinued operations		0.01		—		—		0.02
Net income		1.84		1.76		5.31		4.43
Diluted earnings per share:
Income from continuing operations	$	1.83	$	1.74	$	5.26	$	4.39
Income from discontinued operations		0.01		—		—		0.02
Net income		1.83		1.74		5.26		4.41
Weighted-average number of shares outstanding:
Basic		322		330		324		331
Diluted		324		333		327		333

TE CONNECTIVITY LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	June 24,		September 24,
	2022		2021
	(in millions, except share data)
Assets
Current assets:
Cash and cash equivalents	$	820	$	1,203
Accounts receivable, net of allowance for doubtful accounts of $54 and $41, respectively		3,132		2,928
Inventories		3,028		2,511
Prepaid expenses and other current assets		603		621
Total current assets		7,583		7,263
Property, plant, and equipment, net		3,712		3,778
Goodwill		5,352		5,590
Intangible assets, net		1,355		1,549
Deferred income taxes		2,478		2,499
Other assets		868		783
Total assets	$	21,348	$	21,462
Liabilities, redeemable noncontrolling interests, and shareholders' equity
Current liabilities:
Short-term debt	$	822	$	503
Accounts payable		1,917		1,911
Accrued and other current liabilities		2,319		2,242
Total current liabilities		5,058		4,656
Long-term debt		3,380		3,589
Long-term pension and postretirement liabilities		1,094		1,139
Deferred income taxes		186		181
Income taxes		322		302
Other liabilities		771		847
Total liabilities		10,811		10,714
Commitments and contingencies
Redeemable noncontrolling interests		103		114
Shareholders' equity:
Common shares, CHF 0.57 par value, 330,830,781 shares authorized and issued, and 336,099,881 shares authorized and issued, respectively		146		148
Accumulated earnings		12,084		11,709
Treasury shares, at cost, 10,425,219 and 9,060,919 shares, respectively		(1,370)		(1,055)
Accumulated other comprehensive loss		(426)		(168)
Total shareholders' equity		10,434		10,634
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$	21,348	$	21,462

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Quarters Ended				For the Nine Months Ended
	June 24,		June 25,		June 24,		June 25,
	2022		2021		2022		2021
	(in millions)
Cash flows from operating activities:
Net income	$	594	$	580	$	1,720	$	1,467
(Income) loss from discontinued operations, net of income taxes		(2)		1		(1)		(6)
Income from continuing operations		592		581		1,719		1,461
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization		205		210		597		590
Deferred income taxes		(60)		(14)		(18)		(62)
Non-cash lease cost		34		31		98		90
Provision for losses on accounts receivable and inventories		11		10		79		32
Share-based compensation expense		28		24		88		73
Other		(23)		(25)		(19)		(45)
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net		(51)		(71)		(108)		(638)
Inventories		(28)		(270)		(439)		(482)
Prepaid expenses and other current assets		21		16		57		(14)
Accounts payable		(63)		136		(48)		646
Accrued and other current liabilities		(11)		(15)		(316)		110
Income taxes		26		27		53		61
Other		(102)		42		(219)		80
Net cash provided by operating activities		579		682		1,524		1,902
Cash flows from investing activities:
Capital expenditures		(205)		(170)		(556)		(454)
Proceeds from sale of property, plant, and equipment		35		27		98		85
Acquisition of businesses, net of cash acquired		(14)		(19)		(116)		(126)
Other		(1)		(12)		6		(2)
Net cash used in investing activities		(185)		(174)		(568)		(497)
Cash flows from financing activities:
Net increase in commercial paper		237		—		237		—
Proceeds from issuance of debt		—		—		588		661
Repayment of debt		—		(426)		(558)		(706)
Proceeds from exercise of share options		4		11		34		130
Repurchase of common shares		(378)		(259)		(1,086)		(518)
Payment of common share dividends to shareholders		(180)		(165)		(506)		(483)
Other		(1)		(3)		(39)		(27)
Net cash used in financing activities		(318)		(842)		(1,330)		(943)
Effect of currency translation on cash		(5)		2		(9)		9
Net increase (decrease) in cash, cash equivalents, and restricted cash		71		(332)		(383)		471
Cash, cash equivalents, and restricted cash at beginning of period		749		1,748		1,203		945
Cash, cash equivalents, and restricted cash at end of period	$	820	$	1,416	$	820	$	1,416
Supplemental cash flow information:
Interest paid on debt, net	$	10	$	7	$	39	$	40
Income taxes paid, net of refunds		149		110		326		291

TE CONNECTIVITY LTD.

RECONCILIATION OF FREE CASH FLOW (UNAUDITED)

	For the Quarters Ended				For the Nine Months Ended
	June 24,		June 25,		June 24,		June 25,
	2022		2021		2022		2021
	(in millions)
Net cash provided by operating activities	$	579	$	682	$	1,524	$	1,902
Excluding:
Cash (collected) paid pursuant to collateral requirements related to cross-currency swap contracts		14		—		(28)		12
Capital expenditures, net		(170)		(143)		(458)		(369)
Free cash flow (1)	$	423	$	539	$	1,038	$	1,545
(1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

CONSOLIDATED SEGMENT DATA (UNAUDITED)

	For the Quarters Ended								For the Nine Months Ended
	June 24,				June 25,				June 24,				June 25,
	2022				2021				2022				2021
	($ in millions)
	Net Sales				Net Sales				Net Sales				Net Sales
Transportation Solutions	$	2,300			$	2,265			$	6,772			$	6,776
Industrial Solutions		1,134				1,002				3,268				2,827
Communications Solutions		663				578				1,882				1,502
Total	$	4,097			$	3,845			$	11,922			$	11,105
	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income		Margin		Income		Margin		Income		Margin		Income		Margin
Transportation Solutions	$	383	16.7	%	$	433	19.1	%	$	1,187	17.5	%	$	1,139	16.8	%
Industrial Solutions		169	14.9			148	14.8			440	13.5			335	11.9
Communications Solutions		167	25.2			133	23.0			469	24.9			300	20.0
Total	$	719	17.5	%	$	714	18.6	%	$	2,096	17.6	%	$	1,774	16.0	%
	Adjusted		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted		Adjusted
	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income (1)		Margin (1)		Income (1)		Margin (1)		Income (1)		Margin (1)		Income (1)		Margin (1)
Transportation Solutions	$	397	17.3	%	$	440	19.4	%	$	1,211	17.9	%	$	1,284	18.9	%
Industrial Solutions		190	16.8			158	15.8			511	15.6			395	14.0
Communications Solutions		174	26.2			136	23.5			487	25.9			316	21.0
Total	$	761	18.6	%	$	734	19.1	%	$	2,209	18.5	%	$	1,995	18.0	%
(1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NET SALES GROWTH (DECLINE) (UNAUDITED)

	Change in Net Sales for the Quarter Ended June 24, 2022
	versus Net Sales for the Quarter Ended June 25, 2021
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (1)				Translation (2)		(Divestiture)
	($ in millions)
Transportation Solutions(3):
Automotive	$	29	1.8	%	$	148	9.1	%	$	(119)	$	—
Commercial transportation		18	4.7			38	9.8			(20)		—
Sensors		(12)	(4.2)			6	1.5			(18)		—
Total		35	1.5			192	8.3			(157)		—
Industrial Solutions (3):
Industrial equipment		102	27.1			71	19.1			(30)		61
Aerospace, defense, oil, and gas		11	4.2			22	8.7			(10)		(1)
Energy		20	10.7			31	16.7			(11)		—
Medical		(1)	(0.6)			1	0.6			(2)		—
Total		132	13.2			125	12.7			(53)		60
Communications Solutions (3):
Data and devices		88	26.7			86	26.2			(11)		13
Appliances		(3)	(1.2)			6	2.2			(9)		—
Total		85	14.7			92	15.9			(20)		13
Total	$	252	6.6	%	$	409	10.6	%	$	(230)	$	73

	Change in Net Sales for the Nine Months Ended June 24, 2022
	versus Net Sales for the Nine Months Ended June 25, 2021
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (1)				Translation (2)		(Divestitures)
	($ in millions)
Transportation Solutions(3):
Automotive	$	(57)	(1.2)	%	$	137	2.7	%	$	(194)	$	—
Commercial transportation		64	5.8			95	8.6			(31)		—
Sensors		(11)	(1.3)			19	2.2			(30)		—
Total		(4)	(0.1)			251	3.7			(255)		—
Industrial Solutions (3):
Industrial equipment		402	39.8			283	27.9			(55)		174
Aerospace, defense, oil, and gas		(3)	(0.4)			16	2.0			(18)		(1)
Energy		35	6.4			69	12.7			(23)		(11)
Medical		7	1.4			12	2.2			(5)		—
Total		441	15.6			380	13.5			(101)		162
Communications Solutions (3):
Data and devices		310	36.9			295	35.0			(16)		31
Appliances		70	10.6			83	12.4			(13)		—
Total		380	25.3			378	25.1			(29)		31
Total	$	817	7.4	%	$	1,009	9.0	%	$	(385)	$	193
(1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures.
(2) Represents the change in net sales resulting from changes in foreign currency exchange rates.
(3) Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended June 24, 2022

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	383		$	5	$	9	$	—	$	397
Industrial Solutions		169			6		15		—		190
Communications Solutions		167			1		6		—		174
Total	$	719		$	12	$	30	$	—	$	761
Operating margin		17.5	%								18.6	%
Other income, net	$	4		$	—	$	—	$	—	$	4
Income tax expense	$	(116)		$	(3)	$	(6)	$	(21)	$	(146)
Effective tax rate		16.4	%								19.5	%
Income from continuing operations	$	592		$	9	$	24	$	(21)	$	604
Diluted earnings per share from continuing operations	$	1.83		$	0.03	$	0.07	$	(0.06)	$	1.86
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Includes $26 million recorded in net restructuring and other charges and $4 million recorded in cost of sales.
(3) Includes a $21 million income tax benefit related to the tax impacts of an intercompany transaction. Our estimated annual effective tax rate for fiscal 2022 includes a total income tax benefit of approximately $75 million related to this transaction, with portions recognized in the quarters ended December 24, 2021, March 25, 2022, and June 24, 2022 and the remainder to be recognized in the quarter ending September 30, 2022.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended June 25, 2021

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other		Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)		(Non-GAAP) (2)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	433		$	5	$	2	$	440
Industrial Solutions		148			4		6		158
Communications Solutions		133			—		3		136
Total	$	714		$	9	$	11	$	734
Operating margin		18.6	%						19.1	%
Other income, net	$	2		$	—	$	—	$	2
Income tax expense	$	(124)		$	(2)	$	(4)	$	(130)
Effective tax rate		17.6	%						17.9	%
Income from continuing operations	$	581		$	7	$	7	$	595
Diluted earnings per share from continuing operations	$	1.74		$	0.02	$	0.02	$	1.79
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Nine Months Ended June 24, 2022

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,187		$	12	$	12	$	—	$	1,211
Industrial Solutions		440			24		47		—		511
Communications Solutions		469			2		16		—		487
Total	$	2,096		$	38	$	75	$	—	$	2,209
Operating margin		17.6	%								18.5	%
Other income, net	$	24		$	—	$	—	$	(11)	$	13
Income tax expense	$	(362)		$	(8)	$	(18)	$	(18)	$	(406)
Effective tax rate		17.4	%								18.6	%
Income from continuing operations	$	1,719		$	30	$	57	$	(29)	$	1,777
Diluted earnings per share from continuing operations	$	5.26		$	0.09	$	0.17	$	(0.09)	$	5.43
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Includes $59 million recorded in net restructuring and other charges and $16 million recorded in cost of sales.
(3) Includes a $57 million income tax benefit related to the tax impacts of an intercompany transaction. Our estimated annual effective tax rate for fiscal 2022 includes a total income tax benefit of approximately $75 million related to this transaction, with portions recognized in the quarters ended December 24, 2021, March 25, 2022, and June 24, 2022 and the remainder to be recognized in the quarter ending September 30, 2022. Also includes $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen, and $12 million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income pursuant to the indemnification terms of the purchase agreement.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Nine Months Ended June 25, 2021

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)		Tax Items (2)		(Non-GAAP) (3)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,139		$	15	$	130	$	—	$	1,284
Industrial Solutions		335			11		49		—		395
Communications Solutions		300			—		16		—		316
Total	$	1,774		$	26	$	195	$	—	$	1,995
Operating margin		16.0	%								18.0	%
Other income, net	$	5		$	—	$	—	$	—	$	5
Income tax expense	$	(290)		$	(6)	$	(38)	$	(29)	$	(363)
Effective tax rate		16.6	%								18.4	%
Income from continuing operations	$	1,461		$	20	$	157	$	(29)	$	1,609
Diluted earnings per share from continuing operations	$	4.39		$	0.06	$	0.47	$	(0.09)	$	4.83
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets.
(3) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended September 24, 2021

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other						Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)		Other Items (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	387		$	3	$	5	$	—	$	—	$	395
Industrial Solutions		134			4		24		—		—		162
Communications Solutions		139			1		9		—		—		149
Total	$	660		$	8	$	38	$	—	$	—	$	706
Operating margin		17.3	%										18.5	%
Other income (expense), net	$	(22)		$	—	$	—	$	28	$	—	$	6
Income tax (expense) benefit	$	167		$	(1)	$	3	$	(6)	$	(304)	$	(141)
Effective tax rate		(26.6)	%										20.1	%
Income from continuing operations	$	794		$	7	$	41	$	22	$	(304)	$	560
Diluted earnings per share from continuing operations	$	2.40		$	0.02	$	0.12	$	0.07	$	(0.92)	$	1.69
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract.
(3) Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Year Ended September 24, 2021

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other						Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)		Other Items (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,526		$	18	$	135	$	—	$	—	$	1,679
Industrial Solutions		469			15		73		—		—		557
Communications Solutions		439			1		25		—		—		465
Total	$	2,434		$	34	$	233	$	—	$	—	$	2,701
Operating margin		16.3	%										18.1	%
Other income (expense), net	$	(17)		$	—	$	—	$	28	$	—	$	11
Income tax expense	$	(123)		$	(7)	$	(35)	$	(6)	$	(333)	$	(504)
Effective tax rate		5.2	%										18.9	%
Income from continuing operations	$	2,255		$	27	$	198	$	22	$	(333)	$	2,169
Diluted earnings per share from continuing operations	$	6.77		$	0.08	$	0.59	$	0.07	$	(1.00)	$	6.51
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract.
(3) Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, $29 million of income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES

TO FORWARD-LOOKING GAAP FINANCIAL MEASURES

As of July 27, 2022

(UNAUDITED)

	Outlook for
	Quarter Ending
	September 30,
	2022
Diluted earnings per share from continuing operations	$	1.79
Restructuring and other charges, net		0.16
Acquisition-related charges		0.03
Tax items		(0.13)
Adjusted diluted earnings per share from continuing operations (1)	$	1.85
		.
Net sales growth		10.0	%
Translation		7.0
(Acquisitions) divestitures, net		(2.3)
Organic net sales growth (1)		14.7	%
(1) See description of non-GAAP financial measures.

EX-99.2

Exhibit 99.2

EVERY CONNECTION COUNTS TE Connectivity Third Quarter 2022 Earnings July 27, 2022

Forward - Looking Statements and Non - GAAP Financial Measures 2 Forward - Looking Statements This presentation contains certain "forward - looking statements" within the meaning of the U.S. Private Securities Litigation Ref orm 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 ant ici pated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature a re forward - looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identi fy forward - looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or ob ligation to do so) our forward - looking statements whether as a result of new information, future events or otherwise, except to the extent requ ired by law. The forward - looking statements in this presentation include statements addressing our future financial condition and operating r esults, and the impact on our operations resulting from the coronavirus disease 2019 (“COVID - 19”). Examples of factors that could cause actu al results to differ materially from those described in the forward - looking statements include, among others, the extent, severity and dura tion of COVID - 19 negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions aff ect ing demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign curre ncy exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we opera te, including continuing military conflict between Russia and Ukraine resulting from Russia’s invasion of Ukraine or escalating tensions in su rrounding countries; developments in the credit markets; future goodwill impairment; compliance with current and future environmental a nd other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation, including the eff ect s of Swiss tax reform. In addition, the extent to which COVID - 19 will impact our business and our financial results will depend on future devel opments, which are highly uncertain and cannot be predicted. Such developments may include the geographic spread of the virus, the sev eri ty of the virus, the duration of the outbreak, the impact on our suppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to the outbreak in jurisdictions in which we operate, and the possible impact on the glo bal economy and local economies in which we operate. More detailed information about these and other factors is set forth in TE Connectivity Lt d.'s Annual Report on Form 10 - K for the fiscal year ended Sept. 24, 2021 as well as in our Quarterly Reports on Form 10 - Q, Current Reports o n Form 8 - K and other reports filed by us with the U.S. Securities and Exchange Commission. Non - GAAP Financial Measures Where we have used non - GAAP financial measures, reconciliations to the most comparable GAAP measure are provided, along with a disclosure on the usefulness of the non - GAAP financial measure, in this presentation.

Earnings Highlights Record Sales & Adjusted EPS driven by strong operational performance • Sales of $4.1B, up 7% reported & 11% organically Y/Y, with organic growth across all businesses • Transportation up 8% organically Y/Y, driven by Auto & Commercial Transportation • Industrial up 13% organically Y/Y, driven by Industrial Equipment & Energy • Communications up 16% organically Y/Y, driven by Data & Devices • Orders of $4.2B, reflecting continued strong customer demand; book to bill of 1.02 • Adjusted Operating Margins of 18.6%, expansion in the Industrial & Communications Segments • Adjusted EPS of $1.86, up 4% Y/Y • YTD Free Cash Flow of ~$1B; ~$1.6B returned to shareholders YTD • Connecting Our World report published - drove a reduction of 30% in absolute GHG emissions in FY21 Q4 Guidance reflects strong Y/Y Sales growth • Expect Q4 Sales of ~$4.2B and Adjusted EPS of ~$1.85 • Sales up 10% reported and 15% organically Y/Y with Adjusted EPS up 9% Y/Y • Includes Y/Y FX headwinds of ~$275M to Sales and ~$0.11 to Adjusted EPS • Fiscal 2022 Sales of ~$16.1B and Adjusted EPS of ~$7.29 • Sales up 8% reported and 11% organically Y/Y, with Adjusted EPS up 12% Y/Y • Y/Y FX headwinds of ~$700M to Sales and ~$0.17 to Adjusted EPS • Guidance includes an extra week in Q4, representing Sales of ~$250M & Adjusted EPS of ~$0.10 Organic Net Sales Growth (Decline), Adjusted EPS, Adjusted Operating Margin and Free Cash Flow are non - GAAP financial measures; see Appendix for descriptions and reconciliations 3

Reported FY21 FY22 FY22 Q3 Growth Q3 Q2 Q3 Y/Y Q/Q Transportation 2,562 2,549 2,303 (10)% (10)% Industrial 1,218 1,309 1,320 9% 1% Communications 755 664 575 (24)% (13)% Total TE 4,535 4,522 4,197 (7)% (7)% Book to Bill 1.18 1.13 1.02 Segment Orders Summary ($ in millions) 4 • Orders reflect strong customer demand and supply chain volatility • Backlog up ~20% versus Q3 FY21 • Transportation book to bill of 1.0, reflecting more normalized order patterns and increased backlog position • Industrial Y/Y orders growth across all businesses with a book to bill of 1.16 • Communications orders reflecting a double - digit Y/Y increase in backlog Orders Reflecting Continued Strong Customer Demand Along with Backlog Growth Across All Segments

Transportation Solutions $2,265 $2,300 Q3 2021 Q3 2022 • Automotive organic growth across all regions. Continue to benefit from content outperformance through our global leadership position in electric vehicles • Commercial Transportation growth driven by North America and Europe, with significant market outperformance in each region • Sensors organic growth driven by factory automation applications Y/Y Growth Rates Reported Organic Automotive $1,629 2% 9% Commercial Transportation 400 5% 10% Sensors 271 (4)% 2% Transportation Solutions $2,300 2% 8% Q3 Sales Q3 Business Performance Q3 Adjusted Operating Margin $ in Millions Reported Up 2% Organic Up 8% Margin performance impacted by inflationary pressures and timing of pricing actions Adjusted EBITDA Margin 25.9% 23.2% 5 Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non - GAAP financial measures: see Ap pendix for descriptions and reconciliations 19.4% 17.3% Q3 2021 Q3 2022

Industrial Solutions $1,002 $1,134 Q3 2021 Q3 2022 Y/Y Growth Rates Reported Organic Industrial Equipment $479 27% 19% Aerospace , Defense and Marine 271 4% 9% Energy 207 11% 17% Medical 177 (1)% 1% Industrial Solutions $1,134 13% 13% Margin expansion driven by higher volume and strong operational performance 15.8% 16.8% Q3 2021 Q3 2022 Adjusted EBITDA Margin 20.6% 20.9% • Industrial Equipment double - digit growth in all regions, with continued benefits from factory automation applications • AD&M organic growth driven by market improvement in Commercial Aerospace • Energy organic growth driven by renewable applications • Medical organic growth with increase in interventional procedures $ in Millions Q3 Sales Q3 Business Performance Q3 Adjusted Operating Margin Reported Up 13% Organic Up 13% 6 Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non - GAAP financial measures: see Ap pendix for descriptions and reconciliations

$578 $663 Q3 2021 Q3 2022 Reported Up 15% Organic Up 16% Y/Y Growth Rates Reported Organic Data & Devices $417 27% 26% Appliances 246 (1)% 2% Communications Solutions $663 15% 16% • Dat a & Devices outperformance driven by content growth and share gains, including AI applications enabling improved data center energy efficiency • Appliances growth in North America and Europe partially offset by expected declines in China. C ontinue to generate market outperformance due to share gains 23.5% 26.2% Q3 2021 Q3 2022 Margin performance driven by continued strong operational execution and higher volumes Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non - GAAP financial measures: see Ap pendix for descriptions and reconciliations Communications Solutions Q3 Sales Q3 Adjusted Operating Margin Q3 Business Performance $ in Millions Adjusted EBITDA Margin 26.3% 29.4% 7

Q3 Financial Summary ($ in Millions, except per share amounts) Q3 FY21 Q3 FY22 Net Sales $ 3,845 $ 4,097 Operating Income $ 714 $ 719 Operating Margin 18.6% 17.5% Acquisition - Related Charges 9 12 Restructuring & Other Charges, Net 11 30 Adjusted Operating Income $ 734 $ 761 Adjusted Operating Margin 19.1% 18.6% Earnings Per Share* $ 1.74 $ 1.83 Acquisition - Related Charges 0.02 0.03 Restructuring & Other Charges, Net 0.02 0.07 Tax Items - (0.06) Adjusted EPS $ 1.79 $ 1.86 * Represents Diluted Earnings Per Share from Continuing Operations. .. Adjusted Operating Income, Adjusted Operating Margin and Adjusted EPS are non - GAAP financial measures; see Appendix for descript ions and reconciliations. 8

Q3 Financial Performance $3,845 $4,007 $4,097 Q3 2021 Q2 2022 Q3 2022 $1.79 $1.81 $1.86 Q3 2021 Q2 2022 Q3 2022 Adjusted EBITDA Margin 24.6% 23.2% 23.6% 19.1% 18.4% 18.6% Q3 2021 Q2 2022 Q3 2022 Adjusted Operating Margin, Adjusted EPS, Adjusted EBITDA Margin and Free Cash Flow are non - GAAP financial measures: see Appendix for descriptions and reconciliations. Sales Adjusted Operating Margin Free Cash Flow Adjusted EPS Results Reflect Strong Execution and Diversity of Our Portfolio 9 $1,545 $1,038 YTD 2021 YTD 2022 $ in Millions $ in Millions FCF reflecting planned inventory build ~$1.6B returned to shareholders YTD

EVERY CONNECTION COUNTS Additional Information

Y/Y Q3 2022 Adjusted EPS is a non - GAAP financial measure; See Appendix for description and reconciliation. Sales (in millions) Adjusted EPS Q3 2021 Results $3,845 $1.79 Operational Performance 488 0.17 FX Impact (236) (0.07) Tax Rate Impact - (0.03) Q3 2022 Results $4,097 $1.86 11

Y/Y Q4 2022 Adjusted EPS is a non - GAAP financial measure; See Appendix for description and reconciliation. Sales (in millions) Adjusted EPS Q4 2021 Results $3,818 $1.69 Operational Performance 657 0.27 FX Impact (275) (0.11) Tax Rate Impact - 0.00 Q4 2022 Guidance (14 weeks)* $4,200 $1.85 12 *Q4 includes an extra week which contributes ~$250M to Sales and ~$0.10 to Adjusted EPS

($ in Millions) Q3 2021 Q3 2022 Beginning Cash Balance $1,748 $749 Free Cash Flow 539 423 Dividends (165) (180) Share repurchases (259) (378) Net increase (decrease) in debt (426) 237 Acquisition of businesses, net of cash acquired (19) (14) Other (2) (17) Ending Cash Balance $1,416 $820 Total Debt $4,134 $4,202 A/R $2,985 $3,132 Days Sales Outstanding* 70 69 Inventory $2,392 $3,028 Days on Hand* 81 96 Accounts Payable $1,938 $1,917 Days Outstanding* 68 62 Free Cash Flow and Working Capital Liquidity, Cash & Debt ($ in Millions) Q3 2021 Q3 2022 Cash from Operating Activities $682 $579 Capital expenditures, net Cash paid pursuant to collateral requirements related to cross - currency swap contracts (143) - (170) 14 Free Cash Flow $539 $423 Free Cash Flow is a non - GAAP financial measure, see Appendix for description and reconciliation * Adjusted to exclude the impact of acquisitions Q3 Balance Sheet & Cash Flow Summary 13

EVERY CONNECTION COUNTS Appendix

15 Non - GAAP Financial Measures We present non - GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financ ial measures in addition to results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non - GAAP financial measures provide supplem ental information and should not be considered replacements for results in accordance with GAAP. Management uses non - GAAP financial measures internally for planning and forecasting purposes and in its decision - making processes related to the operations of our company. We believe these measures provide meaningful information to us and investors because they enhance the understanding of our operating performance, ability to generate cash, and the trends of our business. Additionally, we be lie ve that investors benefit from having access to the same financial measures that management uses in evaluating our operations. The primary limitation of these measures is th at they exclude the financial impact of items that would otherwise either increase or decrease our reported results. This limitation is best addressed by using these non - GAAP financial measures in combination with the most directly comparable GAAP financial measures in order to better understand the amounts, character, and impact of any incr eas e or decrease in reported amounts. These non - GAAP financial measures may not be comparable to similarly - titled measures reported by other companies. The following provides additional information regarding our non - GAAP financial measures: • Organic Net Sales Growth (Decline) – represents net sales growth (decline) (the most comparable GAAP financial measure) excludin g the impact of foreign currency exchange rates, and acquisitions and divestitures that occurred in the preceding twelve months, if any. Organic Net Sales Gro wth (Decline) is a useful measure of our performance because it excludes items that are not completely under management’s control, such as the impact of changes in fo rei gn currency exchange rates, and items that do not reflect the underlying growth of the company, such as acquisition and divestiture activity. This measure is a sig nif icant component in our incentive compensation plans. • Adjusted Operating Income and Adjusted Operating Margin – represent operating income and operating margin, respectively, (the mo st comparable GAAP financial measures) before special items including restructuring and other charges, acquisition - related charges, impairment of goodwill, a nd other income or charges, if any. We utilize these adjusted measures in combination with operating income and operating margin to assess segment level operating p erf ormance and to provide insight to management in evaluating segment operating plan execution and market conditions. Adjusted Operating Income is a significant c omp onent in our incentive compensation plans. • Adjusted Other Income (Expense), Net – represents net other income (expense) (the most comparable GAAP financial measure) before special items including tax sharing income related to adjustments to prior period tax returns and other items, if any. • Adjusted Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other cha rge s, acquisition - related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any. • Adjusted Income from Continuing Operations – represents income from continuing operations (the most comparable GAAP financial me asure) before special items including restructuring and other charges, acquisition - related charges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. • Adjusted Earnings Per Share – represents diluted earnings per share from continuing operations (the most comparable GAAP financi al measure) before special items including restructuring and other charges, acquisition - related charges, impairment of goodwill, tax sharing income related to ad justments to prior period tax returns and other tax items, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. T his measure is a significant component in our incentive compensation plans.

16 • Adjusted EBITDA and Adjusted EBITDA Margin - represent net income and net income as a percentage of net sales, respectively, (th e most comparable GAAP financial measures) before interest expense, interest income, income taxes, depreciation, and amortization, as adjusted for net other i nco me (expense), income (loss) from discontinued operations, and special items including restructuring and other charges, acquisition - related charges, impairment of goodwill, and other income or charges, if any. • Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash provided by operatin g activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to ide ntify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to monitor and ev alu ate cash flows generated from our operations. Free Cash Flow is defined as net cash provided by operating activities excluding voluntary pension contributions and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this act ivi ty is driven by economic financing decisions rather than operating activity. Certain special items, including net payments related to pre - separation tax matters an d cash paid (collected) pursuant to collateral requirements related to cross - currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment. These items are subtracted because they represent lo ng - term commitments. In the calculation of Free Cash Flow, we subtract certain cash items that are ultimately within management’s and the Board of Directors’ discret ion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred tha t t he entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non - discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acqu isi tions, that are not considered in the calculation of Free Cash Flow. • Free Cash Flow Conversion – represents the ratio of Free Cash Flow to Adjusted Income from Continuing Operations. We use Free Ca sh Flow Conversion as an indicator of our ability to convert earnings to cash. Non - GAAP Financial Measures (cont.)

Segment Summary 17 Transportation Solutions $ 2,300 $ 2,265 $ 6,772 $ 6,776 Industrial Solutions 1,134 1,002 3,268 2,827 Communications Solutions 663 578 1,882 1,502 Total $ 4,097 $ 3,845 $ 11,922 $ 11,105 Transportation Solutions $ 383 16.7 % $ 433 19.1 % $ 1,187 17.5 % $ 1,139 16.8 % Industrial Solutions 169 14.9 148 14.8 440 13.5 335 11.9 Communications Solutions 167 25.2 133 23.0 469 24.9 300 20.0 Total $ 719 17.5 % $ 714 18.6 % $ 2,096 17.6 % $ 1,774 16.0 % Transportation Solutions $ 397 17.3 % $ 440 19.4 % $ 1,211 17.9 % $ 1,284 18.9 % Industrial Solutions 190 16.8 158 15.8 511 15.6 395 14.0 Communications Solutions 174 26.2 136 23.5 487 25.9 316 21.0 Total $ 761 18.6 % $ 734 19.1 % $ 2,209 18.5 % $ 1,995 18.0 % Operating Margin Operating Margin Operating Margin Adjusted Operating Margin (1) Adjusted Income (1) (1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures. 2022 2021 ($ in millions) Operating Margin (1) Adjusted Operating Margin (1) Adjusted Operating Income (1) Adjusted Operating Adjusted Operating Net Sales Net Sales Net Sales Income (1) Adjusted Operating Income (1) Income Operating Operating Income Operating Income Adjusted Operating Margin (1) Net Sales Operating Income Operating Margin For the Quarters Ended June 24, June 25, June 24, June 25, 2022 For the Nine Months Ended 2021

Reconciliation of Net Sales Growth 18 Transportation Solutions (3) : Automotive $ 29 1.8 % $ 148 9.1 % $ (119) $ — Commercial transportation 18 4.7 38 9.8 (20) — Sensors (12) (4.2) 6 1.5 (18) — Total 35 1.5 192 8.3 (157) — Industrial Solutions (3) : Industrial equipment 102 27.1 71 19.1 (30) 61 Aerospace, defense, oil, and gas 11 4.2 22 8.7 (10) (1) Energy 20 10.7 31 16.7 (11) — Medical (1) (0.6) 1 0.6 (2) — Total 132 13.2 125 12.7 (53) 60 Communications Solutions (3) : Data and devices 88 26.7 86 26.2 (11) 13 Appliances (3) (1.2) 6 2.2 (9) — Total 85 14.7 92 15.9 (20) 13 Total $ 252 6.6 % $ 409 10.6 % $ (230) $ 73 Transportation Solutions (3) : Automotive $ (57) (1.2) % $ 137 2.7 % $ (194) $ — Commercial transportation 64 5.8 95 8.6 (31) — Sensors (11) (1.3) 19 2.2 (30) — Total (4) (0.1) 251 3.7 (255) — Industrial Solutions (3) : Industrial equipment 402 39.8 283 27.9 (55) 174 Aerospace, defense, oil, and gas (3) (0.4) 16 2.0 (18) (1) Energy 35 6.4 69 12.7 (23) (11) Medical 7 1.4 12 2.2 (5) — Total 441 15.6 380 13.5 (101) 162 Communications Solutions (3) : Data and devices 310 36.9 295 35.0 (16) 31 Appliances 70 10.6 83 12.4 (13) — Total 380 25.3 378 25.1 (29) 31 Total $ 817 7.4 % $ 1,009 9.0 % $ (385) $ 193 ($ in millions) Translation (2) Acquisitions/ (Divestiture) Growth (Decline) Growth (1) Translation (2) (Divestitures) Change in Net Sales for the Nine Months Ended June 24, 2022 versus Net Sales for the Nine Months Ended June 25, 2021 (1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures. (2) Represents the change in net sales resulting from changes in foreign currency exchange rates. (3) Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary. ($ in millions) Net Sales Growth (Decline) Organic Net Sales Growth (1) Change in Net Sales for the Quarter Ended June 24, 2022 versus Net Sales for the Quarter Ended June 25, 2021 Net Sales Organic Net Sales Acquisitions/

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended June 24, 2022 19 Operating income: Transportation Solutions $ 383 $ 5 $ 9 $ — $ 397 Industrial Solutions 169 6 15 — 190 Communications Solutions 167 1 6 — 174 Total $ 719 $ 12 $ 30 $ — $ 761 Operating margin 17.5 % 18.6 % Other income, net $ 4 $ — $ — $ — $ 4 Income tax expense $ (116) $ (3) $ (6) $ (21) $ (146) Effective tax rate 16.4 % 19.5 % Income from continuing operations $ 592 $ 9 $ 24 $ (21) $ 604 Diluted earnings per share from continuing operations $ 1.83 $ 0.03 $ 0.07 $ (0.06) $ 1.86 and Other Adjusted Related Acquisition- Restructuring Adjustments (4) See description of non-GAAP financial measures. (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. U.S. GAAP Charges (1) (Non-GAAP) (4) Charges, Net (1)(2) Tax Items (3) ($ in millions, except per share data) (3) Includes a $21 million income tax benefit related to the tax impacts of an intercompany transaction. Our estimated annual effective tax rate for fiscal 2022 includes a total income tax benefit of approximately $75 million related to this transaction, with portions recognized in the quarters ended December 24, 2021, March 25, 2022, and June 24, 2022 and the remainder to be recognized in the quarter ending September 30, 2022. (2) Includes $26 million recorded in net restructuring and other charges and $4 million recorded in cost of sales.

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended June 25, 2021 20 Operating income: Transportation Solutions $ 433 $ 5 $ 2 $ 440 Industrial Solutions 148 4 6 158 Communications Solutions 133 — 3 136 Total $ 714 $ 9 $ 11 $ 734 Operating margin 18.6 % 19.1 % Other income, net $ 2 $ — $ — $ 2 Income tax expense $ (124) $ (2) $ (4) $ (130) Effective tax rate 17.6 % 17.9 % Income from continuing operations $ 581 $ 7 $ 7 $ 595 Diluted earnings per share from continuing operations $ 1.74 $ 0.02 $ 0.02 $ 1.79 (Non-GAAP) (2) ($ in millions, except per share data) and Other Charges, Net (1) (2) See description of non-GAAP financial measures. U.S. GAAP Acquisition- Related Charges (1) Adjustments (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. Restructuring Adjusted

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended March 25, 2021 21 Operating income: Transportation Solutions $ 409 $ 4 $ 9 $ — $ 422 Industrial Solutions 148 6 10 — 164 Communications Solutions 148 — 2 — 150 Total $ 705 $ 10 $ 21 $ — $ 736 Operating margin 17.6 % 18.4 % Other income, net $ 5 $ — $ — $ — $ 5 Income tax expense $ (136) $ (2) $ (5) $ 8 $ (135) Effective tax rate 19.5 % 18.6 % Income from continuing operations $ 560 $ 8 $ 16 $ 8 $ 592 Diluted earnings per share from continuing operations $ 1.71 $ 0.02 $ 0.05 $ 0.02 $ 1.81 Acquisition- Restructuring Adjustments ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (2) Includes $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen on December 27, 2021. Also includes a $19 million income tax benefit related to the tax impacts of an intercompany transaction. Our estimated annual effective tax rate for fiscal 2022 includes a total income tax benefit of approximately $75 million related to this transaction. (3) See description of non-GAAP financial measures. Related and Other Adjusted U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3)

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Nine Months Ended June 24, 2022 22 Operating income: Transportation Solutions $ 1,187 $ 12 $ 12 $ — $ 1,211 Industrial Solutions 440 24 47 — 511 Communications Solutions 469 2 16 — 487 Total $ 2,096 $ 38 $ 75 $ — $ 2,209 Operating margin 17.6 % 18.5 % Other income, net $ 24 $ — $ — $ (11) $ 13 Income tax expense $ (362) $ (8) $ (18) $ (18) $ (406) Effective tax rate 17.4 % 18.6 % Income from continuing operations $ 1,719 $ 30 $ 57 $ (29) $ 1,777 Diluted earnings per share from continuing operations $ 5.26 $ 0.09 $ 0.17 $ (0.09) $ 5.43 ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (3) Includes a $57 million income tax benefit related to the tax impacts of an intercompany transaction. Our estimated annual effective tax rate for fiscal 2022 includes a total income tax benefit of approximately $75 million related to this transaction, with portions recognized in the quarters ended December 24, 2021, March 25, 2022, and June 24, 2022 and the remainder to be recognized in the quarter ending September 30, 2022. Also includes $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen, and $12 million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income pursuant to the indemnification terms of the purchase agreement. (4) See description of non-GAAP financial measures. Related and Other Adjusted U.S. GAAP Charges (1) Charges, Net (1)(2) Tax Items (3) (Non-GAAP) (4) (2) Includes $59 million recorded in net restructuring and other charges and $16 million recorded in cost of sales. Adjustments Acquisition- Restructuring

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Nine Months Ended June 25, 2021 23 Operating income: Transportation Solutions $ 1,139 $ 15 $ 130 $ — $ 1,284 Industrial Solutions 335 11 49 — 395 Communications Solutions 300 — 16 — 316 Total $ 1,774 $ 26 $ 195 $ — $ 1,995 Operating margin 16.0 % 18.0 % Other income, net $ 5 $ — $ — $ — $ 5 Income tax expense $ (290) $ (6) $ (38) $ (29) $ (363) Effective tax rate 16.6 % 18.4 % Income from continuing operations $ 1,461 $ 20 $ 157 $ (29) $ 1,609 Diluted earnings per share from continuing operations $ 4.39 $ 0.06 $ 0.47 $ (0.09) $ 4.83 (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (2) Income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets. (3) See description of non-GAAP financial measures. ($ in millions, except per share data) U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3) Related and Other Adjusted Acquisition- Restructuring Adjustments

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 24, 2021 24 Operating income: Transportation Solutions $ 387 $ 3 $ 5 $ — $ — $ 395 Industrial Solutions 134 4 24 — — 162 Communications Solutions 139 1 9 — — 149 Total $ 660 $ 8 $ 38 $ — $ — $ 706 Operating margin 17.3 % 18.5 % Other income (expense), net $ (22) $ — $ — $ 28 $ — $ 6 Income tax (expense) benefit $ 167 $ (1) $ 3 $ (6) $ (304) $ (141) Effective tax rate (26.6) % 20.1 % Income from continuing operations $ 794 $ 7 $ 41 $ 22 $ (304) $ 560 Diluted earnings per share from continuing operations $ 2.40 $ 0.02 $ 0.12 $ 0.07 $ (0.92) $ 1.69 (3) Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction. Other Items (1)(2) ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (4) See description of non-GAAP financial measures. U.S. GAAP Charges (1) Charges, Net (1) Tax Items (3) (Non-GAAP) (4) (2) Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract. Related and Other Adjusted Adjustments Acquisition- Restructuring

Reconciliation of Non - GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 24, 2021 25 Operating income: Transportation Solutions $ 1,526 $ 18 $ 135 $ — $ — $ 1,679 Industrial Solutions 469 15 73 — — 557 Communications Solutions 439 1 25 — — 465 Total $ 2,434 $ 34 $ 233 $ — $ — $ 2,701 Operating margin 16.3 % 18.1 % Other income (expense), net $ (17) $ — $ — $ 28 $ — $ 11 Income tax expense $ (123) $ (7) $ (35) $ (6) $ (333) $ (504) Effective tax rate 5.2 % 18.9 % Income from continuing operations $ 2,255 $ 27 $ 198 $ 22 $ (333) $ 2,169 Diluted earnings per share from continuing operations $ 6.77 $ 0.08 $ 0.59 $ 0.07 $ (1.00) $ 6.51 Adjustments Acquisition- Restructuring Related and Other Adjusted U.S. GAAP Charges (1) Charges, Net (1) Tax Items (3) (Non-GAAP) (4) Other Items (1)(2) (4) See description of non-GAAP financial measures. ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (3) Represents a $327 million income tax benefit for the net reduction in valuation allowances associated primarily with certain tax planning actions as well as improved current and expected future operating profit and taxable income, $29 million of income tax benefits related to an Internal Revenue Service approved change in the tax method of depreciating or amortizing certain assets, and $23 million of income tax expense associated with the tax impacts of an intercompany transaction. (2) Charge related to the transfer of certain U.S. pension plan liabilities to an insurance company through the purchase of a group annuity contract.

Reconciliation of Free Cash Flow 26 Net cash provided by operating activities $ 579 $ 682 $ 1,524 $ 1,902 Net cash used in investing activities (185) (174) (568) (497) Net cash used in financing activities (318) (842) (1,330) (943) Effect of currency translation on cash (5) 2 (9) 9 Net increase (decrease) in cash, cash equivalents, and restricted cash $ 71 $ (332) $ (383) $ 471 Net cash provided by operating activities $ 579 $ 682 $ 1,524 $ 1,902 Excluding: Cash (collected) paid pursuant to collateral requirements related to cross-currency swap contracts 14 — (28) 12 Capital expenditures, net (170) (143) (458) (369) Free cash flow (1) $ 423 $ 539 $ 1,038 $ 1,545 (1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures. 2022 2021 2022 2021 (in millions) For the Quarters Ended June 24, June 25, June 24, June 25, For the Nine Months Ended

Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin 27 Net income $ 594 $ 560 $ 580 (Income) loss from discontinued operations (2) — 1 Income tax expense 116 136 124 Other income, net (4) (5) (2) Interest expense 18 18 14 Interest income (3) (4) (3) Operating income 719 705 714 Acquisition-related charges 12 10 9 Restructuring and other charges, net 30 21 11 Adjusted operating income (1) 761 736 734 Depreciation and amortization 205 194 210 Adjusted EBITDA (1) $ 966 $ 930 $ 944 Net sales $ 4,097 $ 4,007 $ 3,845 Net income as a percentage of net sales 14.5 % 14.0 % 15.1 % Adjusted EBITDA margin (1) 23.6 % 23.2 % 24.6 % Operating income $ 383 $ 169 $ 167 $ 719 $ 433 $ 148 $ 133 $ 714 Acquisition-related charges 5 6 1 12 5 4 — 9 Restructuring and other charges, net 9 15 6 30 2 6 3 11 Adjusted operating income (1) 397 190 174 761 440 158 136 734 Depreciation and amortization 137 47 21 205 146 48 16 210 Adjusted EBITDA (1) $ 534 $ 237 $ 195 $ 966 $ 586 $ 206 $ 152 $ 944 Net sales $ 2,300 $ 1,134 $ 663 $ 4,097 $ 2,265 $ 1,002 $ 578 $ 3,845 Operating margin 16.7 % 14.9 % 25.2 % 17.5 % 19.1 % 14.8 % 23.0 % 18.6 % Adjusted operating margin (1) 17.3 % 16.8 % 26.2 % 18.6 % 19.4 % 15.8 % 23.5 % 19.1 % Adjusted EBITDA margin (1) 23.2 % 20.9 % 29.4 % 23.6 % 25.9 % 20.6 % 26.3 % 24.6 % June 25, 2021 For the Quarters Ended ($ in millions) ($ in millions) Total Transportation Solutions Industrial Solutions Solutions Solutions Transportation Industrial Solutions (1) See description of non-GAAP financial measures. Communications Solutions Communications For the Quarters Ended June 24, 2022 June 25, 2021 June 24, 2022 March 25, 2022 Total

Reconciliation of Forward - Looking Non - GAAP Financial Measures to Forward - Looking GAAP Financial Measures 28 Diluted earnings per share from continuing operations $ 1.79 $ 7.04 Restructuring and other charges, net 0.16 0.34 Acquisition-related charges 0.03 0.12 Tax items (0.13) (0.21) Adjusted diluted earnings per share from continuing operations (2) $ 1.85 $ 7.29 Net sales growth 10.0 % 8.0 % Translation 7.0 4.5 (Acquisitions) divestitures, net (2.3) (2.0) Organic net sales growth (2) 14.7 % 10.5 % Effective tax rate 13.5 % 16.5 % Effective tax rate adjustments (3) 6.5 2.5 Adjusted effective tax rate (2) 20.0 % 19.0 % Quarter Ending Outlook for (3) Includes adjustments for special tax items and the tax effect of acquisition-related charges and net restructuring and other charges, calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (1) Outlook is as of July 27, 2022. (2) See description of non-GAAP financial measures. 2022 (1) September 30, Outlook for Fiscal 2022 (1)

XML

Document and Entity Information	Jul. 27, 2022
Cover Abstract
Document Type	8-K
Document Period End Date	Jul. 27, 2022
Entity File Number	001-33260
Entity Registrant Name	TE CONNECTIVITY LTD.
Entity Incorporation, State or Country Code	V8
Entity Tax Identification Number	98-0518048
Entity Address, Address Line One	Mühlenstrasse 26
Entity Address, City or Town	Schaffhausen
Entity Address, Postal Zip Code	CH-8200
Entity Address, Country	CH
Country Region	+41
City Area Code	(0)52
Local Phone Number	633 66 61
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Shares, Par Value CHF 0.57
Trading Symbol	TEL
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001385157
Amendment Flag	false