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): April 24, 2024

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 April 24, 2024, TE Connectivity Ltd. (the “Company”) issued a press release reporting the Company’s second quarter results for fiscal 2024. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference in this Item 2.02.

Item 7.01. Regulation FD Disclosure

The Company will hold a conference call and webcast on April 24, 2024 (see information in the press release attached hereto as Exhibit 99.1 under “Conference Call and Webcast”). A copy of the slide materials to be discussed at the conference call and webcast is being furnished pursuant to Regulation FD as Exhibit 99.2 and is incorporated herein by reference, and the slide materials also can be accessed at the “Investors” section of the Company’s website (www.te.com).

Item 9.01.  Financial Statements and Exhibits

(d)       Exhibits

Exhibit No.	Description
99.1	Press release issued April 24, 2024
99.2	Presentation - TE Connectivity Q2 2024 Earnings Call (April 24, 2024)
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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

Date: April 24, 2024	TE CONNECTIVITY LTD.
	By: /s/ Heath 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 second quarter results for fiscal year 2024

Year-over-year EPS growth driven by significant margin expansion; record cash flow generation

SCHAFFHAUSEN, Switzerland – April 24, 2024 – TE Connectivity Ltd. (NYSE: TEL) today reported results for the fiscal second quarter ended March 29, 2024.

Second Quarter Highlights

● Net sales were $3.97 billion, in line with guidance, down 5% on a reported basis year over year and down 3% organically. Sequentially, sales grew 4% on a reported basis and 3% organically.

● GAAP diluted earnings per share (EPS) from continuing operations were $1.75, and adjusted EPS exceeded guidance at $1.86, up 13% year over year.

● Orders were $4.0 billion, up 6% sequentially, with sequential growth in all segments.

● Operating margins were 17.4% and adjusted operating margins were 18.5%, up 250 basis points year over year, driven by strong operational performance.

● Generated record cash flow in the first half of the fiscal year.

o Cash from operating activities was $1.4 billion, up 18% year over year.

o Free cash flow was $1.1 billion, up 32% year over year.

● Deployed over $1.5 billion of capital year to date, with approximately $1.2 billion returned to shareholders and approximately $350 million used for the bolt-on acquisition of Schaffner.

● Issued Connecting Our Worldreport highlighting a 72% reduction in Scope 1 and 2 greenhouse gas emissions over the past three years; set Scope 3 reduction targets validated by the Science Based Targets initiative.

“Our teams delivered EPS above our guidance this quarter with double-digit earnings growth driven by margin expansion in all three of our segments, while continuing to navigate a dynamic global market environment. I am pleased that our orders improved sequentially across all segments and our cash generation model resulted in strong first-half free cash flow, which was up 32% year over year and set a company record,” said TE Connectivity CEO Terrence Curtin. “Building upon our performance this quarter, we expect to deliver strong earnings growth and margin expansion both in the third quarter and for the full fiscal year. We continue to invest in key mega trends, including hybrid and electric vehicles, renewable energy and artificial intelligence, where our global position

and industry-leading innovations are helping our customers advance their technology while driving our long-term profitable growth.”

Third Quarter FY24 Outlook

For the third quarter of fiscal 2024, the company expects net sales of approximately $4.0 billion. GAAP EPS from continuing operations are expected to be approximately $1.71, up 2% year over year, with adjusted EPS of approximately $1.85, up 5% year over year. Third quarter guidance includes a $0.15 year-over-year headwind from tax and currency exchange rates.

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

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

● By telephone: For both "listen-only" participants and those participants who wish to take part in the question-and-answer portion of the call, the dial-in number in the United States is (800) 715-9871and for international callers, the dial-in number is (646) 307-1963

● A replay of the conference call will be available on TE Connectivity’s investor website at investors.te.com at 11:30 a.m. ET on April 24, 2024.

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 enable the distribution of power, signal and data to advance next-generation transportation, renewable energy, automated factories, data centers, medical technology and more. With more than 85,000 employees, including 8,000 engineers, working alongside customers in approximately 140 countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at www.te.comand on LinkedIn, Facebook, WeChat, Instagram and X (formerly 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 Income Tax (Expense) Benefit and Adjusted Effective Tax Rate – represent income tax (expense) benefit and effective tax rate, respectively, (the most comparable GAAP financial measures) after adjusting for the tax effect of special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, other income or charges, and certain significant tax items, if any.

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

•Adjusted Earnings Per Share – represents diluted earnings per share from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-

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

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

Forward-Looking Statements

This release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this release include statements addressing our future financial condition and operating results. In addition, our proposed change of incorporation from Switzerland to Ireland is subject to risks, such as the risk that the change of place of incorporation might not be completed or, if completed, that the anticipated advantages might not materialize, as well as the risks that the price of our stock could decline and our position on stock exchanges and indices could change, and Irish corporate governance and regulatory schemes could prove different or more challenging than currently expected. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of business interruptions, such as the coronavirus disease 2019 (“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 in

certain parts of the world; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. In addition, 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. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept 29, 2023, as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission.

Contacts: Media Relations: 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 Six Months Ended
	March 29,		March 31,		March 29,		March 31,
	2024		2023		2024		2023
	(in millions, except per share data)
Net sales	$	3,967	$	4,160	$	7,798	$	8,001
Cost of sales		2,604		2,876		5,111		5,530
Gross margin		1,363		1,284		2,687		2,471
Selling, general, and administrative expenses		444		435		868		827
Research, development, and engineering expenses		184		185		357		358
Acquisition and integration costs		3		8		11		17
Restructuring and other charges, net		40		119		61		230
Operating income		692		537		1,390		1,039
Interest income		19		12		41		21
Interest expense		(19)		(20)		(37)		(41)
Other expense, net		(5)		(4)		(8)		(9)
Income from continuing operations before income taxes		687		525		1,386		1,010
Income tax (expense) benefit		(146)		(100)		959		(187)
Income from continuing operations		541		425		2,345		823
Income (loss) from discontinued operations, net of income taxes		—		8		(1)		7
Net income	$	541	$	433	$	2,344	$	830
Basic earnings per share:
Income from continuing operations	$	1.76	$	1.34	$	7.59	$	2.60
Income (loss) from discontinued operations		—		0.03		—		0.02
Net income		1.76		1.37		7.59		2.62
Diluted earnings per share:
Income from continuing operations	$	1.75	$	1.34	$	7.54	$	2.58
Income (loss) from discontinued operations		—		0.03		—		0.02
Net income		1.75		1.36		7.54		2.60
Weighted-average number of shares outstanding:
Basic		308		316		309		317
Diluted		310		318		311		319

TE CONNECTIVITY LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	March 29,		September 29,
	2024		2023
	(in millions, except share data)
Assets
Current assets:
Cash and cash equivalents	$	1,176	$	1,661
Accounts receivable, net of allowance for doubtful accounts of $38 and $30, respectively		2,874		2,967
Inventories		2,744		2,552
Prepaid expenses and other current assets		710		712
Total current assets		7,504		7,892
Property, plant, and equipment, net		3,799		3,754
Goodwill		5,678		5,463
Intangible assets, net		1,220		1,175
Deferred income taxes		3,813		2,600
Other assets		810		828
Total assets	$	22,824	$	21,712
Liabilities, redeemable noncontrolling interests, and equity
Current liabilities:
Short-term debt	$	1,235	$	682
Accounts payable		1,598		1,563
Accrued and other current liabilities		2,330		2,218
Total current liabilities		5,163		4,463
Long-term debt		2,961		3,529
Long-term pension and postretirement liabilities		736		728
Deferred income taxes		186		185
Income taxes		372		365
Other liabilities		846		787
Total liabilities		10,264		10,057
Commitments and contingencies
Redeemable noncontrolling interests		106		104
Equity:
TE Connectivity Ltd. shareholders' equity:
Common shares, CHF 0.57 par value, 316,574,781 shares authorized and issued, and 322,470,281 shares authorized and issued, respectively		139		142
Accumulated earnings		13,689		12,947
Treasury shares, at cost, 9,695,361 and 10,487,742 shares, respectively		(1,295)		(1,380)
Accumulated other comprehensive loss		(84)		(158)
Total TE Connectivity Ltd. shareholders' equity		12,449		11,551
Noncontrolling interests		5		—
Total equity		12,454		11,551
Total liabilities, redeemable noncontrolling interests, and equity	$	22,824	$	21,712

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Quarters Ended				For the Six Months Ended
	March 29,		March 31,		March 29,		March 31,
	2024		2023		2024		2023
	(in millions)
Cash flows from operating activities:
Net income	$	541	$	433	$	2,344	$	830
(Income) loss from discontinued operations, net of income taxes		—		(8)		1		(7)
Income from continuing operations		541		425		2,345		823
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization		192		207		386		394
Deferred income taxes		5		(35)		(1,212)		(70)
Non-cash lease cost		33		36		67		70
Provision for losses on accounts receivable and inventories		13		18		55		69
Share-based compensation expense		35		31		69		63
Impairment of held for sale business		—		61		—		67
Other		24		25		64		68
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net		(55)		(170)		72		(224)
Inventories		41		51		(241)		(273)
Prepaid expenses and other current assets		47		61		(1)		(25)
Accounts payable		(73)		(45)		55		104
Accrued and other current liabilities		(48)		(44)		(287)		(83)
Income taxes		3		10		15		35
Other		(48)		3		42		197
Net cash provided by operating activities		710		634		1,429		1,215
Cash flows from investing activities:
Capital expenditures		(167)		(189)		(318)		(372)
Proceeds from sale of property, plant, and equipment		—		1		2		2
Acquisition of businesses, net of cash acquired		10		1		(339)		(108)
Proceeds from divestiture of businesses, net of cash retained by businesses sold		—		51		38		51
Other		(2)		(3)		(10)		23
Net cash used in investing activities		(159)		(139)		(627)		(404)
Cash flows from financing activities:
Net increase (decrease) in commercial paper		30		54		(39)		(85)
Proceeds from issuance of debt		—		499		—		499
Repayment of debt		—		(587)		(1)		(591)
Proceeds from exercise of share options		22		9		33		20
Repurchase of common shares		(409)		(179)		(885)		(466)
Payment of common share dividends to shareholders		(182)		(177)		(365)		(355)
Other		—		(4)		(27)		(28)
Net cash used in financing activities		(539)		(385)		(1,284)		(1,006)
Effect of currency translation on cash		(6)		2		(3)		12
Net increase (decrease) in cash, cash equivalents, and restricted cash		6		112		(485)		(183)
Cash, cash equivalents, and restricted cash at beginning of period		1,170		793		1,661		1,088
Cash, cash equivalents, and restricted cash at end of period	$	1,176	$	905	$	1,176	$	905
Supplemental cash flow information:
Interest paid on debt, net	$	27	$	27	$	32	$	39
Income taxes paid, net of refunds		138		125		238		223

TE CONNECTIVITY LTD.

RECONCILIATION OF FREE CASH FLOW (UNAUDITED)

	For the Quarters Ended				For the Six Months Ended
	March 29,		March 31,		March 29,		March 31,
	2024		2023		2024		2023
	(in millions)
Net cash provided by operating activities	$	710	$	634	$	1,429	$	1,215
Capital expenditures, net		(167)		(188)		(316)		(370)
Free cash flow (1)	$	543	$	446	$	1,113	$	845
(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 Six Months Ended
	March 29,				March 31,				March 29,				March 31,
	2024				2023				2024				2023
	($ in millions)
	Net Sales				Net Sales				Net Sales				Net Sales
Transportation Solutions	$	2,384			$	2,483			$	4,757			$	4,742
Industrial Solutions		1,143				1,191				2,168				2,251
Communications Solutions		440				486				873				1,008
Total	$	3,967			$	4,160			$	7,798			$	8,001
	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income		Margin		Income		Margin		Income		Margin		Income		Margin
Transportation Solutions	$	467	19.6	%	$	333	13.4	%	$	945	19.9	%	$	615	13.0	%
Industrial Solutions		157	13.7			134	11.3			298	13.7			290	12.9
Communications Solutions		68	15.5			70	14.4			147	16.8			134	13.3
Total	$	692	17.4	%	$	537	12.9	%	$	1,390	17.8	%	$	1,039	13.0	%
	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	$	486	20.4	%	$	411	16.6	%	$	981	20.6	%	$	769	16.2	%
Industrial Solutions		173	15.1			174	14.6			328	15.1			349	15.5
Communications Solutions		76	17.3			79	16.3			157	18.0			168	16.7
Total	$	735	18.5	%	$	664	16.0	%	$	1,466	18.8	%	$	1,286	16.1	%
(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 March 29, 2024
	versus Net Sales for the Quarter Ended March 31, 2023
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (Decline) (1)				Translation (2)		(Divestitures)
	($ in millions)
Transportation Solutions(3):
Automotive	$	(46)	(2.6)	%	$	22	1.2	%	$	(24)	$	(44)
Commercial transportation		(21)	(5.2)			(17)	(4.2)			(4)		—
Sensors		(32)	(11.3)			(29)	(10.3)			(3)		—
Total		(99)	(4.0)			(24)	(1.0)			(31)		(44)
Industrial Solutions (3):
Industrial equipment		(105)	(22.8)			(131)	(28.4)			(3)		29
Aerospace, defense, and marine		44	14.8			51	17.0			—		(7)
Energy		1	0.4			1	0.6			(10)		10
Medical		12	6.0			12	6.0			—		—
Total		(48)	(4.0)			(67)	(5.6)			(13)		32
Communications Solutions (3):
Data and devices		(15)	(5.2)			(13)	(4.4)			(2)		—
Appliances		(31)	(15.7)			(27)	(13.8)			(4)		—
Total		(46)	(9.5)			(40)	(8.2)			(6)		—
Total	$	(193)	(4.6)	%	$	(131)	(3.1)	%	$	(50)	$	(12)

	Change in Net Sales for the Six Months Ended March 29, 2024
	versus Net Sales for the Six Months Ended March 31, 2023
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (Decline) (1)				Translation (2)		(Divestitures)
	($ in millions)
Transportation Solutions(3):
Automotive	$	81	2.4	%	$	157	4.5	%	$	(7)	$	(69)
Commercial transportation		(13)	(1.7)			(15)	(2.0)			2		—
Sensors		(53)	(9.7)			(53)	(9.7)			—		—
Total		15	0.3			89	1.9			(5)		(69)
Industrial Solutions (3):
Industrial equipment		(209)	(23.4)			(246)	(27.4)			8		29
Aerospace, defense, and marine		70	12.5			84	14.9			4		(18)
Energy		17	4.0			4	1.0			(7)		20
Medical		39	10.5			39	10.5			—		—
Total		(83)	(3.7)			(119)	(5.3)			5		31
Communications Solutions (3):
Data and devices		(65)	(10.5)			(63)	(10.2)			(2)		—
Appliances		(70)	(17.9)			(66)	(16.9)			(4)		—
Total		(135)	(13.4)			(129)	(12.8)			(6)		—
Total	$	(203)	(2.5)	%	$	(159)	(2.0)	%	$	(6)	$	(38)
(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 NET SALES GROWTH (UNAUDITED)

	Change in Net Sales for the Quarter Ended March 29, 2024
	versus Net Sales for the Quarter Ended December 29, 2023
	Net Sales				Organic Net Sales						Acquisitions/
	Growth				Growth (1)				Translation (2)		(Divestiture)
	($ in millions)
Total	$	136	3.5	%	$	102	2.6	%	$	13	$	21
(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.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended March 29, 2024

(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	$	467		$	—	$	19	$	486
Industrial Solutions		157			3		13		173
Communications Solutions		68			—		8		76
Total	$	692		$	3	$	40	$	735
Operating margin		17.4	%						18.5	%
Income tax expense	$	(146)		$	(1)	$	(6)	$	(153)
Effective tax rate		21.3	%						21.0	%
Income from continuing operations	$	541		$	2	$	34	$	577
Diluted earnings per share from continuing operations	$	1.75		$	0.01	$	0.11	$	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) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended March 31, 2023

(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	$	333		$	—	$	78	$	411
Industrial Solutions		134			7		33		174
Communications Solutions		70			1		8		79
Total	$	537		$	8	$	119	$	664
Operating margin		12.9	%						16.0	%
Income tax expense	$	(100)		$	(1)	$	(26)	$	(127)
Effective tax rate		19.0	%						19.5	%
Income from continuing operations	$	425		$	7	$	93	$	525
Diluted earnings per share from continuing operations	$	1.34		$	0.02	$	0.29	$	1.65
(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 Six Months Ended March 29, 2024

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)		Tax Items (2)		(Non-GAAP) (3)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	945		$	—	$	33	$	3	$	981
Industrial Solutions		298			10		19		1		328
Communications Solutions		147			1		9		—		157
Total	$	1,390		$	11	$	61	$	4	$	1,466
Operating margin		17.8	%								18.8	%
Income tax (expense) benefit	$	959		$	(2)	$	(11)	$	(1,254)	$	(308)
Effective tax rate		(69.2)	%								21.1	%
Income from continuing operations	$	2,345		$	9	$	50	$	(1,250)	$	1,154
Diluted earnings per share from continuing operations	$	7.54		$	0.03	$	0.16	$	(4.02)	$	3.71
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Includes an $874 million net income tax benefit associated with a ten-year tax credit obtained by a Swiss subsidiary and a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland. Also includes a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes.
(3) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Six Months Ended March 31, 2023

(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	$	615		$	2	$	152	$	769
Industrial Solutions		290			13		46		349
Communications Solutions		134			2		32		168
Total	$	1,039		$	17	$	230	$	1,286
Operating margin		13.0	%						16.1	%
Income tax expense	$	(187)		$	(3)	$	(55)	$	(245)
Effective tax rate		18.5	%						19.5	%
Income from continuing operations	$	823		$	14	$	175	$	1,012
Diluted earnings per share from continuing operations	$	2.58		$	0.04	$	0.55	$	3.17
(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 Quarter Ended June 30, 2023

(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	$	425		$	—	$	27	$	452
Industrial Solutions		150			8		22		180
Communications Solutions		55			1		4		60
Total	$	630		$	9	$	53	$	692
Operating margin		15.8	%						17.3	%
Income tax expense	$	(96)		$	(2)	$	(27)	$	(125)
Effective tax rate		15.4	%						18.2	%
Income from continuing operations	$	528		$	7	$	26	$	561
Diluted earnings per share from continuing operations	$	1.67		$	0.02	$	0.08	$	1.77
(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 Year Ended September 29, 2023

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)		Tax Items (2)		(Non-GAAP) (3)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,451		$	3	$	211	$	—	$	1,665
Industrial Solutions		602			27		84		—		713
Communications Solutions		251			3		45		—		299
Total	$	2,304		$	33	$	340	$	—	$	2,677
Operating margin		14.4	%								16.7	%
Income tax expense	$	(364)		$	(6)	$	(85)	$	(49)	$	(504)
Effective tax rate		16.0	%								19.1	%
Income from continuing operations	$	1,904		$	27	$	255	$	(49)	$	2,137
Diluted earnings per share from continuing operations	$	6.01		$	0.09	$	0.80	$	(0.15)	$	6.74
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Represents income tax benefits associated with a decrease in the valuation allowance for certain tax loss and credit carryforwards.
(3) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES

TO FORWARD-LOOKING GAAP FINANCIAL MEASURES

As of April 24, 2024

(UNAUDITED)

	Outlook for
	Quarter Ending
	June 28,
	2024
Diluted earnings per share from continuing operations	$	1.71
Restructuring and other charges, net		0.12
Acquisition-related charges		0.02
Adjusted diluted earnings per share from continuing operations (1)	$	1.85
Net sales growth		—	%
Translation		1.6
(Acquisitions) divestitures, net		0.2
Organic net sales growth (1)		1.8	%
(1) See description of non-GAAP financial measures.

EX-99.2

Exhibit 99.2

EVERY CONNECTION COUNTS TE Connectivity Second Quarter 2024 Earnings April 24, 2024

Forward-Looking Statements This presentation contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to risks, uncertainty and changes in circumstances, which may cause actual results, performance, financial condition or achievements to differ materially from anticipated results, performance, financial condition or achievements. All statements contained herein that are not clearly historical in nature are forward-looking and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. We have no intention and are under no obligation to update or alter (and expressly disclaim any such intention or obligation to do so) our forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by law. The forward-looking statements in this presentation include statements addressing our future financial condition and operating results. In addition, our proposed change of incorporation from Switzerland to Ireland is subject to risks, such as the risk that the change of place of incorporation might not be completed or, if completed, that the anticipated advantages might not materialize, as well as the risks that the price of our stock could decline and our position on stock exchanges and indices could change, and Irish corporate governance and regulatory schemes could prove different or more challenging than currently expected. Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of business interruptions, such as the coronavirus disease 2019 (“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 in certain parts of the world; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation. In addition, 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. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 29, 2023 as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission. Non-GAAP Financial Measures Where we have used non-GAAP financial measures, reconciliations to the most comparable GAAP measure are provided, along with a disclosure on the usefulness of the non-GAAP financial measure, in this presentation. Forward-Looking Statements and Non-GAAP Financial Measures 2

13% Adjusted EPS growth Y/Y in Q2 driven by Adjusted Operating Margin expansion of 250bps ▪ Q2 Sales in line with guidance at $3.97B, up 3% organically on a sequential basis ▪ Sales down 5% reported and 3% organically Y/Y as expected with each segment in line with our expectations ▪ Orders of $4.0B, up 6% sequentially with growth in all segments ▪ Adjusted Operating Margins of 18.5%, up 250bps Y/Y, driven by strong operational performance ▪ Adjusted EPS above guidance at $1.86, up 13% Y/Y ▪ Record Free Cash Flow generation of $1.1B in 1H FY24, up 32% Y/Y ▪ Issued Connecting Our World report highlighting a 72% reduction in Scope 1 & 2 GHG emissions over the past three years ▪ Set Scope 3 reduction targets validated by the Science Based Targets initiative Earnings Highlights 3 Organic Net Sales Growth (Decline), Adjusted Operating Margin, Adjusted EPS, and Free Cash Flow are non-GAAP financial measures; see Appendix for descriptions and reconciliations Q3 Guidance ▪ Expect Sales of ~$4.0B with Y/Y organic growth driven by the Transportation and Communications segments ▪ Expect Adjusted EPS of ~$1.85, up 5% Y/Y ▪ Guidance includes a $0.15 Y/Y headwind from tax and currency exchange rates

Reported FY23 Q2 FY24 Q1 FY24 Q2 Q2 Growth Y/Y Q/Q Transportation 2,412 2,247 2,288 (5)% 2% Industrial 1,193 1,122 1,197 0% 7% Communications 388 404 526 36% 30% Total TE 3,993 3,773 4,011 0% 6% Book to Bill 0.96 0.98 1.01 Segment Orders Summary ($ in millions) 4 ▪ Transportation orders reflecting ongoing stable global Auto production with incremental weakness in Commercial Transportation markets ▪ Industrial segment showing continued strong order momentum offsetting destocking in Industrial Equipment markets ▪ Communications orders reflecting design win momentum in Cloud & Artificial Intelligence programs Sequential orders growth in all segments

Transportation Solutions Q2 SALES Reported Down 4% Organic Down 1% Q2 ADJUSTED OPERATING MARGIN Margin expansion driven by strong execution on operational levers Adjusted EBITDA Margin 21.7% 25.1% 5 $2,483 $2,384 Q2 2023 Q2 2024 Q2 BUSINESS PERFORMANCE Y/Y Growth Rates Reported Organic Automotive $1,749 (3)% 1% Commercial Transportation 384 (5)% (4)% Sensors 251 (11)% (10)% Transportation Solutions $2,384 (4)% (1)% $ in Millions 16.6% 20.4% Q2 2023 Q2 2024 ▪ Automotive Organic growth in China offset by declines in North America & Europe. Our performance continues to be driven by our leading global position in EV/HEV along with electronification trends ▪ Commercial Transportation Organic declines in North America and Europe, partially offset by growth in China ▪ Sensors Organic decline driven by weakness in industrial applications and product exits Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations. Expect to maintain ~20% target margins going forward

Industrial Solutions Q2 SALES Reported Down 4% Organic Down 6% Q2 ADJUSTED OPERATING MARGIN Margins as expected at current volume levels and business mix Adjusted EBITDA Margin 19.2% 20.1% 6 Q2 BUSINESS PERFORMANCE Y/Y Growth Rates Reported Organic Industrial Equipment $356 (23)% (28)% Aerospace, Defense and Marine 342 15% 17% Energy 234 0% 1% Medical 211 6% 6% Industrial Solutions $1,143 (4)% (6)% $ in Millions ▪ Industrial Equipment Decline driven by continued impact of destocking in our customers’ supply chain ▪ AD&M Organic growth reflects ongoing market improvement in Commercial Aerospace and Defense ▪ Energy Organic growth in the Americas offset by weakness in Europe; continue to see strong momentum in renewable applications ▪ Medical Organic growth driven by increases in interventional procedures $1,191 $1,143 Q2 2023 Q2 2024 14.6% 15.1% Q2 2023 Q2 2024 Continued momentum in AD&M, Energy, and Medical Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations.

Communications Solutions Q2 SALES Reported Down 10% Organic Down 8% Q2 ADJUSTED OPERATING MARGIN Margin expansion driven by strong operational performance Adjusted EBITDA Margin 21.0% 22.3% 16.3% 17.3% Q2 2023 Q2 2024 7 $ in Millions ▪ Data & Devices Q2 decline driven by destocking in our customers’ supply chain; continue to see strong momentum in Cloud and AI applications ▪ Appliances Impacted by market weakness in all regions ▪ Expect segment to return to Y/Y growth in Q3; seeing indicators of supply chain normalization in both businesses $486 $440 Q2 2023 Q2 2024 Q2 BUSINESS PERFORMANCE Y/Y Growth Rates Reported Organic Data & Devices $273 (5)% (4)% Appliances 167 (16)% (14)% Communications Solutions $440 (10)% (8)% AI programs expected to drive future revenue growth; expect to maintain high teens segment margins in 2H FY24 Organic Net Sales Growth (Decline), Adjusted Operating Margin, and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations.

Q2 Financial Summary 8 ($ in Millions, except per share amounts) Q2 FY23 Q2 FY24 Net Sales $ 4,160 $ 3,967 Operating Income $ 537 $ 692 Operating Margin 12.9% 17.4% Acquisition-Related Charges 8 3 Restructuring & Other Charges, Net 119 40 Adjusted Operating Income $ 664 $ 735 Adjusted Operating Margin 16.0% 18.5% Earnings Per Share* $ 1.34 $ 1.75 Acquisition-Related Charges 0.02 0.01 Restructuring & Other Charges, Net 0.29 0.11 Adjusted EPS $ 1.65 $ 1.86 Adjusted Effective Tax Rate 19.5% 21.0% *Represents Diluted Earnings Per Share from Continuing Operations Adjusted Operating Income, Adjusted Operating Margin, Adjusted Earnings Per Share, and Adjusted Effective Tax Rate are non-GAAP financial measures; see Appendix for descriptions and reconciliations.

Q2 Financial Performance 9 16.0% 18.5% Q2 2023 Q2 2024 SALES ADJUSTED OPERATING MARGIN ADJUSTED EPS FREE CASH FLOW Strong Margin and EPS expansion with record 1H Free Cash Flow performance $ in Billions $ in Millions Up 32% Y/Y $845 $1,113 YTD 2023 YTD 2024 Up 13% Y/Y driven by margin expansion $1.65 $1.86 Q2 2023 Q2 2024 $4.2 $4.0 Q2 2023 Q2 2024 250bps of margin expansion Sales down 5% Y/Y Adjusted Operating Margin, Adjusted Earnings Per Share, and Free Cash Flow are non-GAAP financial measures; see Appendix for descriptions and reconciliations.

EVERY CONNECTION COUNTS Additional Information

Y/Y Q2 2024 11 Sales (in millions) Adjusted EPS Q2 2023 Results $4,160 $1.65 Operational Performance (143) 0.31 FX Impact (50) (0.07) Tax Rate Impact - (0.03) Q2 2024 Results $3,967 $1.86 Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.

Y/Y Q3 2024 12 Sales (in millions) Adjusted EPS Q3 2023 Results $3,998 $1.77 Operational Performance 65 0.23 FX Impact (63) (0.06) Tax Rate Impact - (0.09) Q3 2024 Guidance $4,000 $1.85 Adjusted Earnings Per Share is a non-GAAP financial measure; see Appendix for description and reconciliation.

Q2 Balance Sheet and Cash Flow Summary 13 ($ in Millions) Q2 2023 Q2 2024 Beginning Cash Balance $793 $1,170 Free Cash Flow 446 543 Dividends (177) (182) Share repurchases (179) (409) Net increase (decrease) in debt (34) 30 Acquisition of businesses, net of cash acquired 1 10 Divestiture of businesses, net of cash retained by businesses sold 51 - Other 4 14 Ending Cash Balance $905 $1,176 Total Debt $4,202 $4,196 A/R $3,048 $2,874 Days Sales Outstanding* 67 65 Inventory $2,811 $2,744 Days on Hand* 85 90 Accounts Payable $1,678 $1,598 Days Outstanding* 53 55 Free Cash Flow and Working Capital Liquidity, Cash and Debt ($ in Millions) Q2 2023 Q2 2024 Cash from Operating Activities $634 $710 Capital expenditures, net (188) (167) Free Cash Flow $446 $543 Free Cash Flow is a non-GAAP financial measure, see Appendix for description and reconciliation * Calculated on a quarterly basis and adjusted to exclude the impact of acquisitions and divestitures

EVERY CONNECTION COUNTS Appendix

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

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

Segment Summary 17 Transportation Solutions $ 2,384 $ 2,483 $ 4,757 $ 4,742 Industrial Solutions 1,143 1,191 2,168 2,251 Communications Solutions 440 486 873 1,008 Total $ 3,967 $ 4,160 $ 7,798 $ 8,001 O perating O perating O perating O perating Margin Margin Margin Margin Transportation Solutions $ 467 19.6 % $ 333 13.4 % $ 945 19.9 % $ 615 13.0 % Industrial Solutions 157 13.7 134 11.3 298 13.7 290 12.9 Communications Solutions 68 15.5 70 14.4 147 16.8 134 13.3 Total $ 692 17.4 % $ 537 12.9 % $ 1,390 17.8 % $ 1,039 13.0 % Adjusted Adjusted Adjusted Adjusted O perating O perating O perating O perating Margin (1) Margin (1) Margin (1) Margin (1) Transportation Solutions $ 486 20.4 % $ 411 16.6 % $ 981 20.6 % $ 769 16.2 % Industrial Solutions 173 15.1 174 14.6 328 15.1 349 15.5 Communications Solutions 76 17.3 79 16.3 157 18.0 168 16.7 Total $ 735 18.5 % $ 664 16.0 % $ 1,466 18.8 % $ 1,286 16.1 % (1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures. 2024 2023 ($ in millions) Adjusted O perating Income (1) Adjusted O perating Adjusted O perating Income (1) Net Sales Net Sales Net Sales Income (1) Adjusted O perating Income (1) Income O perating O perating Income O perating Income Net Sales O perating Income 2024 2023 For the Q uarters Ended March 29, March 31, March 29, March 31, For the Six Months Ended

Reconciliation of Net Sales Growth 18 Transportation Solutions (3): Automotive $ (46) (2.6) % $ 22 1.2 % $ (24) $ (44) Commercial transportation (21) (5.2) (17) (4.2) (4) — Sensors (32) (11.3) (29) (10.3) (3) — Total (99) (4.0) (24) (1.0) (31) (44) Industrial Solutions (3): Industrial equipment (105) (22.8) (131) (28.4) (3) 29 Aerospace, defense, and marine 44 14.8 51 17.0 — (7) Energy 1 0.4 1 0.6 (10) 10 Medical 12 6.0 12 6.0 — — Total (48) (4.0) (67) (5.6) (13) 32 Communications Solutions (3) : Data and devices (15) (5.2) (13) (4.4) (2) — Appliances (31) (15.7) (27) (13.8) (4) — Total (46) (9.5) (40) (8.2) (6) — Total $ (193) (4.6) % $ (131) (3.1) % $ (50) $ (12) ($ in millions) Translation (2) Acquisitions/ (Divestitures) Net Sales Growth (Decline) O rganic Net Sales Growth (Decline) (1) Change in Net Sales for the Q uarter Ended March 29, 2024 versus Net Sales for the Q uarter Ended March 31, 2023 Transportation Solutions (3): Automotive $ 81 2.4 % $ 157 4.5 % $ (7) $ (69) Commercial transportation (13) (1.7) (15) (2.0) 2 — Sensors (53) (9.7) (53) (9.7) — — Total 15 0.3 89 1.9 (5) (69) Industrial Solutions (3) : Industrial equipment (209) (23.4) (246) (27.4) 8 29 Aerospace, defense, and marine 70 12.5 84 14.9 4 (18) Energy 17 4.0 4 1.0 (7) 20 Medical 39 10.5 39 10.5 — — Total (83) (3.7) (119) (5.3) 5 31 Communications Solutions (3): Data and devices (65) (10.5) (63) (10.2) (2) — Appliances (70) (17.9) (66) (16.9) (4) — Total (135) (13.4) (129) (12.8) (6) — Total $ (203) (2.5) % $ (159) (2.0) % $ (6) $ (38) (1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures. (2) Represents the change in net sales resulting from changes in foreign currency exchange rates. Translation (2) (Divestitures) Change in Net Sales for the Six Months Ended March 29, 2024 versus Net Sales for the Six Months Ended March 31, 2023 (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 O rganic Net Sales Acquisitions/ Growth (Decline) Growth (Decline) (1)

19 Reconciliation of Net Sales Growth - Sequential Total $ 136 3.5 % $ 102 2.6 % $ 13 $ 21 (2) Represents the change in net sales resulting from changes in foreign currency exchange rates. Growth Growth (1) Translation (2) (Divestiture) ($ in millions) (1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial Change in Net Sales for the Q uarter Ended March 29, 2024 versus Net Sales for the Q uarter Ended December 29, 2023 Net Sales O rganic Net Sales Acquisitions/

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended March 29, 2024 20 Operating income: Transportation Solutions $ 467 $ — $ 19 $ 486 Industrial Solutions 157 3 13 173 Communications Solutions 68 — 8 76 Total $ 692 $ 3 $ 40 $ 735 Operating margin 17.4 % 18.5 % Income tax expense $ (146) $ (1) $ (6) $ (153) Effective tax rate 21.3 % 21.0 % Income from continuing operations $ 541 $ 2 $ 34 $ 577 Diluted earnings per share from continuing operations $ 1.75 $ 0.01 $ 0.11 $ 1.86 Related and O ther Adjusted Acquisition- Restructuring Adjustments (2) 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) (2) Charges, Net (1) ($ in millions, except per share data)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended March 31, 2023 21 Operating income: Transportation Solutions $ 333 $ — $ 78 $ 411 Industrial Solutions 134 7 33 174 Communications Solutions 70 1 8 79 Total $ 537 $ 8 $ 119 $ 664 Operating margin 12.9 % 16.0 % Income tax expense $ (100) $ (1) $ (26) $ (127) Effective tax rate 19.0 % 19.5 % Income from continuing operations $ 425 $ 7 $ 93 $ 525 Diluted earnings per share from continuing operations $ 1.34 $ 0.02 $ 0.29 $ 1.65 ($ 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) See description of non-GAAP financial measures. U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (2) Related and O ther Adjusted Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Six Months Ended March 29, 2024 22 Operating income: Transportation Solutions $ 945 $ — $ 33 $ 3 $ 981 Industrial Solutions 298 10 19 1 328 Communications Solutions 147 1 9 — 157 Total $ 1,390 $ 11 $ 61 $ 4 $ 1,466 Operating margin 17.8 % 18.8 % Income tax (expense) benefit $ 959 $ (2) $ (11) $ (1,254) $ (308) Effective tax rate (69.2) % 21.1 % Income from continuing operations $ 2,345 $ 9 $ 50 $ (1,250) $ 1,154 Diluted earnings per share from continuing operations $ 7.54 $ 0.03 $ 0.16 $ (4.02) $ 3.71 (3) See description of non-GAAP financial measures. ($ in millions, except per share data) Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (3) Tax Items (2) (2) Includes an $874 million net income tax benefit associated with a ten-year tax credit obtained by a Swiss subsidiary and a $262 million income tax benefit related to the revaluation of deferred tax assets as a result of a corporate tax rate increase in Switzerland. Also includes a $118 million income tax benefit associated with the tax impacts of a legal entity restructuring with related costs of $4 million recorded in selling, general, and administrative expenses for other non-income taxes. (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Six Months Ended March 31, 2023 23 Operating income: Transportation Solutions $ 615 $ 2 $ 152 $ 769 Industrial Solutions 290 13 46 349 Communications Solutions 134 2 32 168 Total $ 1,039 $ 17 $ 230 $ 1,286 Operating margin 13.0 % 16.1 % Income tax expense $ (187) $ (3) $ (55) $ (245) Effective tax rate 18.5 % 19.5 % Income from continuing operations $ 823 $ 14 $ 175 $ 1,012 Diluted earnings per share from continuing operations $ 2.58 $ 0.04 $ 0.55 $ 3.17 (2) See description of non-GAAP financial measures. Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (2) (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. ($ in millions, except per share data) Adjustments Acquisition- Restructuring

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended June 30, 2023 24 Operating income: Transportation Solutions $ 425 $ — $ 27 $ 452 Industrial Solutions 150 8 22 180 Communications Solutions 55 1 4 60 Total $ 630 $ 9 $ 53 $ 692 Operating margin 15.8 % 17.3 % Income tax expense $ (96) $ (2) $ (27) $ (125) Effective tax rate 15.4 % 18.2 % Income from continuing operations $ 528 $ 7 $ 26 $ 561 Diluted earnings per share from continuing operations $ 1.67 $ 0.02 $ 0.08 $ 1.77 ($ 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) See description of non-GAAP financial measures. Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (2) Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 29, 2023 25 Operating income: Transportation Solutions $ 1,451 $ 3 $ 211 $ — $ 1,665 Industrial Solutions 602 27 84 — 713 Communications Solutions 251 3 45 — 299 Total $ 2,304 $ 33 $ 340 $ — $ 2,677 Operating margin 14.4 % 16.7 % Income tax expense $ (364) $ (6) $ (85) $ (49) $ (504) Effective tax rate 16.0 % 19.1 % Income from continuing operations $ 1,904 $ 27 $ 255 $ (49) $ 2,137 Diluted earnings per share from continuing operations $ 6.01 $ 0.09 $ 0.80 $ (0.15) $ 6.74 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. (3) See description of non-GAAP financial measures. Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3) (2) Represents income tax benefits associated with a decrease in the valuation allowance for certain tax loss and credit carryforwards.

Reconciliation of Free Cash Flow 26 Net cash provided by operating activities $ 710 $ 634 $ 1,429 $ 1,215 Net cash used in investing activities (159) (139) (627) (404) Net cash used in financing activities (539) (385) (1,284) (1,006) Effect of currency translation on cash (6) 2 (3) 12 Net increase (decrease) in cash, cash equivalents, and restricted cash $ 6 $ 112 $ (485) $ (183) Net cash provided by operating activities $ 710 $ 634 $ 1,429 $ 1,215 Capital expenditures, net (167) (188) (316) (370) Free cash flow (1) $ 543 $ 446 $ 1,113 $ 845 (1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures. 2024 2023 2024 2023 (in millions) For the Q uarters Ended March 29, March 31, March 29, March 31, For the Six Months Ended

Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin 27 Net income $ 541 $ 433 Income from discontinued operations — (8) Income tax expense 146 100 Other expense, net 5 4 Interest expense 19 20 Interest income (19) (12) Operating income 692 537 Acquisition-related charges 3 8 Restructuring and other charges, net 40 119 Adjusted operating income (1) 735 664 Depreciation and amortization 192 207 Adjusted EBITDA (1) $ 927 $ 871 Net sales $ 3,967 $ 4,160 Net income as a percentage of net sales 13.6 % 10.4 % Adjusted EBITDA margin (1) 23.4 % 20.9 % Operating income $ 467 $ 157 $ 68 $ 692 $ 333 $ 134 $ 70 $ 537 Acquisition-related charges — 3 — 3 — 7 1 8 Restructuring and other charges, net 19 13 8 40 78 33 8 119 Adjusted operating income (1) 486 173 76 735 411 174 79 664 Depreciation and amortization 113 57 22 192 129 55 23 207 Adjusted EBITDA (1) $ 599 $ 230 $ 98 $ 927 $ 540 $ 229 $ 102 $ 871 Net sales $ 2,384 $ 1,143 $ 440 $ 3,967 $ 2,483 $ 1,191 $ 486 $ 4,160 Operating margin 19.6 % 13.7 % 15.5 % 17.4 % 13.4 % 11.3 % 14.4 % 12.9 % Adjusted operating margin (1) 20.4 % 15.1 % 17.3 % 18.5 % 16.6 % 14.6 % 16.3 % 16.0 % Adjusted EBITDA margin (1) 25.1 % 20.1 % 22.3 % 23.4 % 21.7 % 19.2 % 21.0 % 20.9 % (1) See description of non-GAAP financial measures. ($ in millions) Transportation Industrial Communications Solutions Solutions Solutions Total Solutions Solutions Solutions Total March 29, 2024 March 31, 2023 For the Q uarters Ended ($ in millions) March 29, 2024 March 31, 2023 Transportation Industrial Communications For the Q uarters Ended

Reconciliation of Forward-Looking Non-GAAP Financial Measures to Forward-Looking GAAP Financial Measures 28 Diluted earnings per share from continuing operations $ 1.71 Restructuring and other charges, net 0.12 Acquisition-related charges 0.02 Adjusted diluted earnings per share from continuing operations (2) $ 1.85 Net sales growth — % Translation 1.6 (Acquisitions) divestitures, net 0.2 Organic net sales growth (2) 1.8 % Effective tax rate 22.2 % 21.9 % Effective tax rate adjustments (3) (0.2) (0.2) Adjusted effective tax rate (2) 22.0 % 21.7 % 2024 (1) June 28, September 27, 2024 (1) (3) Includes adjustments for special tax items and the tax effect of acquisition-related charges and net restructuring and other charges, calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (1) Outlook is as of April 24, 2024. (2) See description of non-GAAP financial measures. Q uarter Ending O utlook for O utlook for Q uarter Ending

XML

Document and Entity Information	Apr. 24, 2024
Cover Abstract
Document Type	8-K
Amendment Flag	false
Document Period End Date	Apr. 24, 2024
Entity File Number	001-33260
Entity Registrant Name	TE CONNECTIVITY LTD.
Entity Central Index Key	0001385157
Entity Tax Identification Number	98-0518048
Entity Incorporation, State or Country Code	V8
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