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

Flex (Nasdaq: FLEX) today announced that its previously announced cash tender offer (the “Tender Offer”) for any and all of its outstanding 4.625% Notes due 2020 (the “2020 Notes”) expired at 5:00 p.m., New York City time, on June 5, 2019. As of the expiration of the Tender Offer, $249,942,000 or 49.99% of the $500 million outstanding aggregate principal amount of the 2020 Notes had been validly tendered and not validly withdrawn. These amounts do not include $50,000 aggregate principal amount of the 2020 Notes subject to the guaranteed delivery procedures described in the Offer to Purchase dated May 30, 2019 (the “Offer to Purchase”). Payment for the 2020 Notes validly tendered and accepted for purchase was made on June 6, 2019, and payment for all 2020 Notes validly tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase is expected to be made on June 10, 2019.

Holders that validly tendered their 2020 Notes at or prior to the expiration of the Tender Offer and did not validly withdraw their 2020 Notes will receive the Tender Offer consideration of $1,013.02 for each $1,000 principal amount of 2020 Notes tendered and accepted for payment, plus accrued and unpaid interest from the February 15, 2019 interest payment date to, but not including, June 6, 2019 (the “Settlement Date”). Holders that validly tender their 2020 Notes pursuant to the guaranteed delivery procedures described in the Offer to Purchase will receive the same Tender Offer consideration. For the avoidance of doubt, accrued interest will cease to accrue on the Settlement Date for all 2020 Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase.

The Tender Offer was made pursuant to the terms and subject to the conditions set forth in the Offer to Purchase and the related letter of transmittal and notice of guaranteed delivery and the Company’s press release dated May 30, 2019 announcing the amendment by the Company of the financing condition of the Tender Offer. The amended financing condition for the Tender Offer was the successful completion by Flex of its previously announced offering (the “Offering”) of $450 million aggregate principal amount of 4.875% notes due 2029 (the “New Notes”), which closed on June 6, 2019.