Flex Announces the Pricing Terms of Its Cash Tender Offer for Any and All of Its 4.625% Notes Due 2020

Flex (Nasdaq: FLEX) today announced the pricing terms of its previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.625% Notes due 2020 (the “2020 Notes”).

The consideration (the “Tender Offer Consideration”) for each $1,000 principal amount of the 2020 Notes validly tendered and accepted for purchase pursuant to the Tender Offer was determined in the manner described in the Offer to Purchase dated May 30, 2019 (the “Offer to Purchase”) by reference to the fixed spread for the 2020 Notes specified below plus the yield to maturity based on the bid-side price of the U.S. Treasury Reference Security specified below as of 2:00 p.m., New York City time today, the date on which the Tender Offer is currently scheduled to expire.

Title of Security

CUSIP / ISIN Nos.

Principal Amount Outstanding

U.S. Treasury Reference Security

Bloomberg Reference Page

Reference Yield

Fixed Spread

Tender Offer Consideration(1)

4.625% Notes due 2020

33938E AQ0 / US33938EAQ08

$500,000,000

1.375% UST due February 15, 2020

FIT3

2.207%

+50 bps

$1,013.02

(1) Per $1,000 principal amount.

In addition to the Tender Offer Consideration, holders of the 2020 Notes (“Holders”) will receive accrued and unpaid interest on the 2020 Notes validly tendered and accepted for purchase from the February 15, 2019 interest payment date up to, but not including, the settlement date, which is currently expected to be June 6, 2019 (such date, as it may be extended, the “Settlement Date”). Notes tendered by notice of guaranteed delivery and accepted for purchase are expected to be purchased on the second business day after the Settlement Date, but payment of accrued interest on such 2020 Notes will only be made to, but not including, the Settlement Date.