EX-99.2 3 d255826dex992.htm INVESTOR PRESENTATIONS Investor presentations
110908_1
Welcome
Ria Carlson
SVP Corporate Communications
November 15, 2011
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Exhibit 99.2

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Certain comments made by Ingram Micro during today’s
Investor/Analyst Day presentations and discussions may
be characterized as forward-looking statements under
the Private Securities Litigation Reform Act of 1995.
Those comments are based on management’s
expectations, but there are risks that could cause actual
results to differ materially from expectations.
Additional information concerning these risks may be
found in the Company’s 2010 Annual Report on Form
10-K under “Item 1A”
and in future filings with the SEC. 
Copies are available from the SEC, the Company web
site, or Ingram Micro Investor Relations.
Ingram Micro disclaims any duty to update any forward-
looking statements.
Forward-Looking Statements
Forward-Looking Statements

110908_3
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Non-GAAP Information
GAAP to Non-GAAP Reconciliation
Our
disclosure
of
financial
results
contained
in
today’s
presentations
include
those
prepared
in
accordance
with
generally
accepted
accounting
principles
(“GAAP”)
and,
for
comparative
purposes,
are
accompanied
by
disclosures
and
financial
measures
that
are
not
prepared
in
conformity
with
GAAP.
Non-GAAP
operating
margin,
Non-GAAP
North
America
operating
margin,
and
Non-
GAAP
earnings
per
share
are
primary
indicators
management
uses
internally
to
conduct
and
measure
its
business
and
evaluate
the
performance
of
its
consolidated
operations
and
geographic
operating
segments. 
Management
believes
these
measures
are
useful
information
to
investors
because
they
provide
meaningful
comparisons
to
prior
periods
and
may
be
more
indicative
of
the
level
of future results.
These
non-GAAP
financial
measures
are
used
in
addition
to
and
in
conjunction
with
results
presented
in
accordance
with
GAAP.
These
non-GAAP
financial
measures
reflect
an
additional
way
of
viewing
aspects
of
our
operations
that,
when
viewed
with
our
GAAP
results
and
the
accompanying
reconciliations
to
corresponding
GAAP
financial
measures,
provide
a
more
complete
understanding
of
factors
and
trends
affecting
our
business. 
These
non-GAAP
measures
should
be
considered
as
a
supplement
to,
and
not
as
a
substitute
for
or
superior
to,
the
corresponding
measures
calculated
in
accordance
with
generally
accepted
accounting
principles.

110908_4
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Agenda
1:30-2:30 p.m.
The Blueprint For Our Success
Greg Spierkel, CEO
2:30-3:15 p.m.
An Architecture For The Future
Mario Leone, CIO
3:15-3:30 p.m.
Break
3:30-4:05 p.m.
Our Blueprint In Action: North America
Keith Bradley, President, North America
4:05-4:50 p.m.
Setting The Financial Cornerstone
Bill Humes, CFO
4:50-5:00 p.m.
The Finishing Touches
Greg Spierkel
5:00-6:30 p.m.
Cocktails with management

110908_1
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The Blueprint For Our Success
Greg Spierkel
Chief Executive Officer
November 15, 2011

IM: Trading For 15 Years On NYSE
15 things you should know about
Ingram Micro as we celebrate
15 years as an NYSE public company

110908_3
We’re In Strong Emerging Markets.
17.9% CAGR
Revenues have grown 90% since 2005 in the emerging markets of
China,
Brazil,
India
and
Mexico
–
with
more
growth
expected
Source: IDC, Worldwide Black Book Query Tool, October 31, 2011
US $ Billions
US $ Billions
India
Brazil
China
Mexico
10.0% CAGR
27.8% CAGR
12.1% CAGR

We Offer Value-Added Sales.
Our highly trained and certified
technicians handle an average of
3 million pre-sales consultation
calls each year worldwide
Source: Company data and estimates

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We’re Strong In Enterprise
Technology.
Revenues in our enterprise technology business are
expected to surpass $10 billion for the 2011 year
Percentage of Enterprise Revenues
Source: Company reports

We’re Responsible.
Ingram Micro ranked an industry-leading No. 33 on
Newsweek’s 2011 Green Rankings of the 500 largest
companies in the U.S.
Source: Newsweek 2011 “Green Ranking”

We’re A Vital Link In The Value Chain.
IM Logistics North America fulfills 21 million orders
every year
Source: Company data and estimates

We’re Respected And Recognized.
–
The
only
distributor to win CIO
magazine’s 2011
CIO 100 Award for technology innovation
–
Ingram Micro India: Microsoft’s 2011 Authorized
Distributor Partner of the Year (Worldwide)
–
VMware 2010 Global and Americas Distributor of
the Year awards
Ingram Micro is a winner:
–
Recognized as “Best Place to Work”
in six
countries

We’re Everywhere. (Almost.)
Ingram Micro serves six out of seven
continents and 150 countries

We Got Game.
Ingram Micro is the largest seller of Xbox
gaming consoles in Mexico
Source: Company data and estimates

We’re Mobile.
Source: Company data and estimates

110908_12
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We Capture Data.
Ingram Micro has No. 2 worldwide market share in
Data Capture / Point-of-Sale
–
On track for $600M+ in 2011 revenue, with gross margins
in the high single digits
Source: Company data and estimates

We’re Worldly.
Source: Company information
CEO
Canadian
6
COO
French
6
Sr. EVP,
North America
Irish
4
Sr. EVP, EMEA
French
4
Sr. EVP, Asia-Pacific
Indian
2
SVP, Latin America
American
1
EVP,
Human Resources
Canadian
3
CIO
American
& Italian
3
CFO
American
1
Countries
Worked In
Executive
Nationality
Confidential and proprietary information of Ingram Micro Inc. — Do not distribute or duplicate without Ingram Micro's express written permission.

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We Generate Cash.
We have generated more than $2.2 billion in
operating cash flows over the past 10 years
($ Millions)
Source: Company reports

110908_15
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We’re Growing Our Assets.
Our tangible book value has grown to $20.79 per
share as of Q3 2011
Source: Company reports

We’re Bullish On Our Future…
We are the largest purchaser of Ingram Micro
common stock –
repurchasing 36M+ shares over
the past 5 years
–
12 million+ shares repurchased in the past 9 months
Source: Company data and estimates

110908_17
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…And Our Future Is Bright.
TTM
*
2015
528 BPS
122 BPS
100 BPS
540-560 BPS
155-175 BPS
300-500 BPS
Gross Margin
Non-GAAP* Op. Margin
ROIC Over WACC
Key Financial Targets
$1.70
$2.60-$3.10
Non-GAAP* EPS
* TTM = Trailing Twelve Months; For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to
non-GAAP Reconciliation section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

The Foundations Of Our Plan

The Largest Global IT Distributor
Ingram Micro HQ
Ingram Micro Regional HQ
Growing $1.7 trillion industry
Seasoned management team
Strong global presence
Industry’s broadest portfolio
–
1,400+ vendors; 180,000+ resellers
5%*
42%*
31%*
22%*
* FY 2010

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Worldwide Economic Growth
Source: Economist Intelligence Unit, September 2011
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110908_21
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Worldwide IT Market
Source: IDC, Worldwide Black Book Query Tool, October 31, 2011
4.1%
4.1%
6.0%
7.3%
CAGR
$517
$517
$239
$486
$1,047
$1,047
$427
$727
Hardware
Hardware
Software
Services

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Regional IT Growth
* Excludes Japan
US $ Billions
Source: IDC, Worldwide Black Book Query Tool, October 31, 2011
North America –
5.1%
EMEA –
3.6%
Asia-Pacific –
14.2%
Latin America –
11.9%
CAGR

Market
Trends
Driving
IT
Spending
Innovation
and
Productivity
Mobility
The
worldwide
market
for
public
cloud
services
will
be
worth
$176.8
billion
by
2015
–
Gartner
Cloud Computing
Tablets
will
create
vast
numbers
of
multi-device
users
who
will
prefer
cloud-based
tools
–
Peter
Coffee,
Salesforce.com

Market Trends Driving IT Spending
Innovation and Productivity
Mobility
(There
are
227
million
mobile
Web
users
just
in
China.)
Cloud Computing
Media
tablet
sales
will
hit
63.6
million
units
in
2011
–
Gartner
Mobile
Web
users
expected
to
surpass
1
billion
within
5
years
–
ITU

Market Trends Driving IT Spending
Innovation and Productivity
Mobility
(There
are
227
million
mobile
Web
users
just
in
China.)
Cloud Computing
Media tablet
sales will hit
326.3 million
units in
2015
–
Gartner
Mobile
Web
users
expected
to
surpass
1
billion
within
5
years
–
ITU

Market Trends Driving IT Spending
Business to Business
“With
collaborative
technologies
…that…
increase
productivity,
it
behooves
companies
to
compress
the
IT
lifecycles.”
–
CTO
Edge
Data Centers
Corporate Investment / Refresh
“IT
organizations
have
been
extending
staff
hours
and
launching
‘major
projects’
that
promise
strong
returns
or
benefits.”
–
Computer
Economics

63%
(of
survey
respondents)
are
investing
$1M+
per
year
on
data
center
products
and
services
–
2011-2012
Data
Center
Market
Insights
report
Market Trends Driving IT Spending
Business to Business
Data Centers
83%
of
large
U.S.
corporations
plan
to
expand
their
datacenter
facilities
in
the
next
12
months
–
Digital
Reality
Trust
survey
Corporate Investment / Refresh

Market Trends Driving IT Spending
Social Networking
Video / Content
800+
million
Facebook
users
in
2011
75%
Facebook
users
are
outside
the
U.S.
Twitter
has
more
than
100
million
active
users
worldwide
Social Media

Market Trends Driving IT Spending
Social Networking
Video / Content
Facebook
users
in
75%
Facebook
users
are
outside
the
U.S.
Twitter
has
more
than
100
million
active
users
worldwide
Social Media
1 billion+
2012

In February 2011,
82.5%
of the U.S. Internet audience viewed
online
video
–
comScore
Market Trends Driving IT Spending
Social Networking
Video / Content
YouTube
exceeded
3
billion
daily
views
in
2011
70%
of
YouTube's
traffic
comes
from
outside
the
U.S.
Social Media

There
are
477
million
Internet
users
in
China
Market Trends Driving IT Spending
Emerging Markets
Mexico
City
and
its
surrounding
area
accounts
for
50%
of
total
IT
spending
in
the
country
The
number
of
mobile
subscribers
in
India
is
growing
by
20
million
every
month
That’s
equivalent
to
adding
the
population
of
Sweden
every
2
weeks

Regional Overview

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North America At A Glance
Ingram Micro Advanced Logistics Center
AVAD Logistics Center
Ingram Micro No. 1 overall in
North America
–
$15B business; diverse portfolio of
products and services
–
30,000 customers; 52% SMB
Growing CE business
–
Products range from accessories to
home entertainment / security
First distributor to launch Cloud
marketplace
Well-established DC/POS
business since 2004
–
Cross-sell opportunities with Core
Fee-for-service logistics business
with more than 30 clients
IM Canada HQ
IM Canada HQ
Ingram Micro HQ
Buffalo, NY
Buffalo, NY
Campus
Campus
7 Advanced Logistics Centers
–
Same day shipping to 90% of US
–
90% orders direct shipped to end user
Foundation for rich end-user database

110908_34
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North America At A Glance
2015 Revenue Mix
2011 Revenue Mix
* Other : Mobility, DC/POS and IM Logistics
($ Billions)
($ Billions)
U.S.
U.S.
Canada
Canada
Total IT Market
2011 YTD
$592
$41
IM Position
1
1
Major Competitors
(alphabetical order)
-
Arrow
-
Avnet
-
ScanSource
-
Synnex
-
Tech Data
-
Westcon
-
Arrow
-
Avnet
-
ScanSource
-
Synnex
-
Tech Data
-
Westcon
Other*
Enterprise &
Data Center
Enterprise &
Data Center
Other*
Sources: IDC, Worldwide Black Book Query Tool, October 31, 2011 and Company Reports
Core
Core

110908_35
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EMEA At A Glance
Ingram Micro No. 2 overall in Europe
–
20+ years of operating history in EMEA
Full presence in 11 countries, representing
75% of the addressable EMEA IT market
Market leader in faster-growth SMB segment
–
70,000 customers
–
Business intelligence-led vendor program
DC/POS business in 15 countries
–
Double-digit growth at superior OI%
–
Pan-Euro supply model
Enterprise computing strategy
–
Investing in vendors and people
–
Completed four acquisitions since 2009
Mobility business launched in 2010
–
Greenfield investment focused on vendor capture
Office
Distribution Center
EMEA Region HQ
Israel DC/POS

110908_36
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EMEA At A Glance
($ Billions)
($ Billions)
Germany
Germany
France
France
UK
UK
Italy
Italy
Spain
Spain
Netherlands
Netherlands
Belgium
Belgium
Total IT market
2011 YTD
$88
$68
$99
$35
$27
$26
$12
IM Position
1
2
5
2
2
3
2
Major
Competitors
(alphabetical order)
-
Also-Actebis
-
Avnet
-
Tech Data
-
Also-Actebis
-
ETC
(SCH
Group)
-
Tech Data
-
DCC Group
-
Tech Data
-
Westcoast
-
Esprinet
-
Tech Data
-
Esprinet
-
Tech Data
-
Vinzeo
Informatica
-
Copaco
-
ETC
(SCH
Group)
-
Tech Data
-
Arlex
-
Copaco
-
Tech Data
2015 Revenue Mix
2011 Revenue Mix
Other*
Enterprise &
Data Center
Enterprise &
Data Center
Other*
Core
* Other : Mobility, DC/POS and IM Logistics
Sources: IDC, Worldwide Black Book Query Tool, October 31, 2011 and Company Reports
Core

110908_37
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Country HQ
Distribution Center
Rep. Office
Regional HQ
China
China
Hong Kong
Australia
Australia
New Zealand
Indonesia
India
Malaysia
Thailand
Singapore
Bangladesh
Bangladesh
Philippines
Vietnam
Ingram Micro No. 2 overall in
A-Pac; leader in key markets
–
2 decades of experience
Leader in DC/POS; Enterprise
sales
(Servers,
storage,
networking
&
software)
Well-established telecom
distribution
in
India
(Extending
to
other countries)
Piloting SMB Cloud delivery
initiatives with key vendors
Largest SMB channels network
–
30,000 resellers, 80 distribution
centers & 15,000 orders daily
(Key to the region’s success and
hard to replicate)
Spanning
12
Countries
and
8
Time
Zones
Asia-Pacific At A Glance

110908_38
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Asia-Pacific At A Glance
($ Billions)
($ Billions)
China
Australia
India
Singapore
Malaysia
Thailand
NZ
Total IT market
2011 YTD
$119
$39
$30
$9
$8
$8
$5
IM Position
3
1
1
1
2
4
1
Major
Competitors
(alphabetical order)
-
Digital China
-
ECS
-
Synnex Int’l
-
Avnet
-
Express Data
-
Synnex Int’l
-
Redington
-
Savex
-
Compuage
-
ECS
-
SIS
-
Avnet
-
ECS
-
Ingens
-
Servex
-
ECS Value
-
SIS
-
Synnex Int’l
-
Express Data
-
Exceed
-
Westcon
2015 Revenue Mix
2011 Revenue Mix
Other*
Enterprise &
Data Center
Enterprise &
Data Center
Other*
* Other : Mobility, DC/POS and IM Logistics
Sources: IDC, Worldwide Black Book Query Tool, October 31, 2011 and Company Reports
Core
Core

110908_39
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Ingram Micro No. 1 overall in Latin
America
–
In-country presence in Mexico, Brazil,
Chile, Peru and Argentina
Market leader in Mexico with share
larger than No. 2 and 3 players
combined
Leader in Miami Export, with
significant double-digit growth YOY
Fastest-growing Apple distributor
Strategic focus on growing higher-
value, higher-margin businesses
across the region
–
IM Logistics
–
Data Capture/POS
–
Enterprise Computing
–
Consumer Electronics
Mexico
Peru
Chile
Brazil
Argentina
Latin America At A Glance
Miami
Latin America HQ
Office
Distribution Center

110908_40
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Latin America At A Glance
($ Billions)
($ Billions)
Mexico
Miami
Export
Brazil
Chile
Argentina
Peru
Total IT market
2011 YTD
$15
$3
$42
$4
$6
$2
IM Position
1
2
3
1
6
5
Major
Competitors
(alphabetical order)
-
Avnet
-
Intcomex
-
Tech Data
-
Avnet
-
Intcomex
-
Tech Data
-
Alcateia
-
Officer
-
Tech Data
-
Intocmex
-
Tech Data
-
Tecnoglobal
-
Airoldi
-
Microglobal
-
PC Arts
-
Deltron
-
Intcomex
-
Tech Data
2015 Revenue Mix
2011 Revenue Mix
Other*
Enterprise &
Data Center
Enterprise &
Data Center
Other*
* Other : Mobility, DC/POS and IM Logistics
Sources: IDC, Worldwide Black Book Query Tool, October 31, 2011 and Company Reports
Core
Core

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Our Global Strategies
Build Operational Excellence
Strengthen Adjacencies
Develop New Avenues For Growth
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Build Operational Excellence
Continue information systems
and eCommerce improvements
–
ERP implementation
–
Global website redesign
–
Data center migration
Manage share and streamline
costs
–
Cost optimization & margin
management
–
Shared Service Centers
–
Business intelligence

110908_43
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Strengthen Adjacencies
$600M+
revenues
Growing to
$900M+ by 2015
Maintaining
gross margins in
the high single
digits
$120M+ of fee-
based revenues
Growing to
$190M+ by 2015
Encouraging
pipeline with
margin
enhancement
opportunities
$10B+ revenues
Growing to $14B+
by 2015
Gross margin
improvement
opportunity
Leverage large
footprint to move
up the stack,
continue to
augment
capabilities
$600M+ revenues
Growing to $1.7B+
by 2015
High velocity, lower
margin
Strong ROWC, low
working capital
requirements
Augment
capabilities around
higher-margin
services

Develop New Avenues For Growth
Cloud Services
–
Leading Cloud aggregator in the
channel
–
Providing untapped market for
vendors
–
Launched transactional marketplace
in June 2011
46 distinct services from 28 vendors
including BMC, IBM, McAfee, Symantec
& TrendMicro
Building credibility and community
–
Currently negligible revenues, with                            
expectations for triple-digit CAGR to
$200M+ by 2015
–
Maintain double-digit gross margin
Source: Gartner: Forecast: Public Cloud Services, Worldwide and Regions, Industry Sectors, 2010-2015, June 29, 2011

Proprietary information of Ingram Micro Inc. —
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Framing The Day
Information Systems:
Critical to our strategy
North America Initiatives:
Validation of our
strategy
Finance and Capital:
How we will achieve
our targets

110908_46
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110908_1
An Architecture For The Future
Building New and Advancing Business Systems
Mario Leone
EVP, Chief Information Officer
November 15, 2011
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110908_2
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Global IS Business Blueprint
Global IS Business Blueprint
A Global IS strategy founded on business advancement

110908_3
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Business
Business
Agility
Agility
Customer
Customer
Loyalty
Loyalty
Flex Cost
Flex Cost
Model
Model
Establishing the Cornerstones
Establishing the Cornerstones
A Systems Architecture Supporting Operational Excellence
Computing
Environments
Lower Operating
Costs
Global
Networks
Modern ERP
System
Global
e-Solutions
Business Return
Business Return

110908_4
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Business
Agility
Customer
Loyalty
Flex Cost
Model
Establishing the Cornerstones
Establishing the Cornerstones
Two of five cornerstones completed and all delivering value
Computing
Environments
Completed 2011
Lower Operating
Lower Operating
Costs
Costs
Ongoing
Ongoing
Global
Global
Networks
Networks
Completed 2011
Completed 2011
Modern ERP
System
Delivered 2014
Global
e-Solutions
Delivered 2012
Business Return
Being  Delivered

110908_5
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Investing in Computing Environments…
Investing in Computing Environments…
In 2009, fragmentation, complexity and drag on business responsiveness
Corporate
Data
Center
Local 
Server
Rooms

110908_6
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Investing in Computing Environments…
Investing in Computing Environments…
In 2009, fragmentation, complexity and drag on business responsiveness
Corporate
Data
Center
Local 
Server
Rooms
Categories
Categories
2010
2010
Physical/Virtualization Ratio
Average Server Age
Tiered Storage
ERP Centers
Wide Area Networks
Bandwidth
90/10
6.1 years
0
1
7
1 MB

110908_7
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…To Create a Modern Platform
…To Create a Modern Platform
Streamlined connectivity = low latency, fast data and high availability
Global Client
Services Desk
Centers
Data Center Interconnectivity for  Disaster Recovery and High Availability
S1
S1
S2
S2
S3
S3
New Global 
Data Centers

110908_8
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…To Create a Modern Platform
…To Create a Modern Platform
Streamlined connectivity = low latency, fast data and high availability
Global Client
Services Desk
Centers
Data Center Interconnectivity for  Disaster Recovery and High Availability
S1
S1
S2
S2
S3
S3
New Global 
Data Centers
Categories
Categories
2010
2010
2011
2011
Physical /Virtualization Ratio
Average Server Age
Tiered Storage
ERP Centers
Wide Area Networks
Bandwidth
90/10
6.1 years
0
1
7
1 MB
40/60
1.2 years
3
3
1
2 MB

110908_9
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…To Create a Modern Platform
…To Create a Modern Platform
Streamlined connectivity = low latency, fast data and high availability
Data Center Interconnectivity for Disaster Recovery and High Availability
S1
S1
S2
S2
S3
S3
Initial Results for 2010 -
Initial Results for 2010 -
2011
2011
Fast Solution Delivery
Fast Solution Delivery
Virtual deployment of new IT capabilities to support new
demand from partners and internal operations
Accelerated Partner Connections
Accelerated Partner Connections
20% increase in new partners connecting through new
“Easy to Connect”
EDI/XML platform
Improved Operational Reliability
Improved Operational Reliability
37% Reduction in Unplanned Downtime
Reduced IT Operating Costs
Reduced IT Operating Costs
7.5 % Annual Cost Savings
(excludes major projects)

110908_10
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SAP
Deployment
Building capabilities to
partner and deliver globally
Best Practice development
and sharing
New EDI/XML
Platform
Ease partner connectivity
Drive industry standards
Supply Chain
Management
Enable World-class SAP and
Ingram Warehouse Systems
Single global transportation
management system 
Results
Deployed in 4 regions
& 8 countries
6,000+ SAP users
Results
500+ partners successfully    
migrated in eight countries
20% increase in new
partner connections
Results
5+ million orders processed;
12 million cartons to date
Tariff management of 60
different carriers
Framing a new SAP ERP Eco System
Framing a new SAP ERP Eco System
Modern systems for business growth

Framing
a
new
SAP
ERP
Eco
System
Modern systems for business growth

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Secure and Friendly Front Door
Secure and Friendly Front Door
New Web Platform Provides Global Consistency, Ease of Business
World Class
Search
Industry-leading product
search capability deployed in
seven countries
Vendor
Marketplace
Marketing and merchandizing
for customers, vendors and
our sales teams
Cloud Computing
Platform
Positioning Ingram Micro as
the leading Channel Cloud
Solutions Provider
Results
Search
on
1M
available
products
with
4M
page
views
per
month
25,000 sales orders per
month
Results
Vendor
funded
marketing
steadily
increasing
2,500
boutique
visitors
each
month
Results
3,000
Resellers
actively
using
the
platform
32
services
with
294
SKUs
available
to
resellers

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Changing the Mix of Spend
Changing the Mix of Spend
Reduction and mix of spend will drive to our anticipated P&L Goals
* 2010 Benchmark data from Rubin Worldwide for
Distribution and Logistics companies  
Gartner Group
categorization of  IT
spend
Transform
New revenue opportunities or
major improvements in
company operations
Industry Benchmark:  13%*
Grow         
Improve revenues or
optimize profitability
Industry Benchmark:  22%*
Run             
Sustain
normal
business
operations
Industry Benchmark:  65%*
33% Transform
62% Run
5% Grow
Overall Spend
Reduction of
46%
2015 Target
Spend & Mix
2010 Actual
Spend & Mix
70% Run
8% Transform
22% Grow

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Reducing the Cost to Operate
Reducing the Cost to Operate
Converted from a Fixed to Competitive Variable Cost Model
From 2011 through 2015 overall IS cost efficiency
From 2011 through 2015 overall IS cost efficiency
improvement of 15-20 BPS
improvement of 15-20 BPS
Converted Single
Outsourced 
Provider to
Colocation Model
Instituted a
Competitive
Bidding Process to
Improve Pricing
Invested in an
internal team to
reduce external
costs and build
expertise
Today

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Conclusion
Conclusion
Investments in systems peak in 2011 –
will taper off each coming year
Lessons learned from SAP challenges
being applied to minimize future impact
Modernized IS environment will position
Ingram Micro for the next two decades
SAP
SAP

110908_1
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Our Blueprint in Action
Keith Bradley
President Ingram Micro North America
November 15, 2011

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Built on the Strategic Blueprint
Organization Aligns with Global Strategies
ADVANCED
TECHNOLOGY
ADVANCED
COMPUTING
DIRECT AND
CONSUMER
COMMERCIAL
SPECIALTY
SOLUTIONS
LOGISTICS
Divisional structure enables dedicated leads to focus on the growth and
success of their individual businesses.
STRENGTHEN
STRENGTHEN
EXCEL
EXCEL
STRENGTHEN &
STRENGTHEN &
DEVELOP
DEVELOP

“Ingram Micro’s new divisions blur the
lines between value and volume and
address the advanced technologies
and multi-vendor solutions that are
moving the market forward.”
Growth Through Collaboration
Divisions Enable “Broad and Deep”
Approach
-
Chris Ilg, IDC

110908_4
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Shared Services: Driving Efficiency
Increased efficiencies and reduced OpEx fuels strategic initiatives
–
Labor savings in double-digit percentages
Enables company-wide consistency and operating efficiencies
–
More flexible workforce for changing economic conditions
–
Location diversity for business continuity
–
Consistency from new ERP system critical for global success
2012
2010
2011
2005
2006-2009
FTE’s in Manila
grow to ~640
Further Growth as Needs
& Capabilities Expand
Surpass ~1,200 FTE
across 14+ functions
Establish Shared Service
Center in Manila and exit
outsource arrangements
Outsource 6 functions
in Manila ~250 FTE
Outsource 5
functions in India
~200 FTE
Sell ~80 OSP
Seats
Grow OSP
Seats to ~160
Excel
Excel

Shared Services Functions
More than Tech Support
Excel
Excel
Sales
Sales
Customer
Customer
Service
Service
Order
Order
Management
Management
Marketing
Marketing
Tech
Tech
Support
Support
Outbound
Outbound
Services for
Services for
Partners
Partners
Internal IS
Internal IS
Support
Support
Pricing
Pricing
Accounts
Accounts
Receivable
Receivable
Human
Human
Resources
Resources
Admin
Admin
Purchasing
Purchasing
Accounts
Accounts
Payable
Payable
Credit
Credit
Accounting
Accounting

110908_6
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Enhanced Offerings
Information Delivery & Analysis
–
Expanded Reseller Dashboard
Data Integration
–
Upgraded infrastructure for 60% faster
processing, 6x greater storage
Efficiency
–
Consolidated BI teams to create greater cross-
sell opportunities with lower cost
New Capabilities
Propensity Modeling
–
Predictive analytics helped 1 vendor realized $250K of net new business in 1 quarter
Monetization Analysis
–
Uncovered opportunities in attach rates and renewals; $2.3M in net new sales for 1 vendor
Lead Generation in New Segments
–
Cross-sell opportunities drove $500K in incremental 6-month sales for 1 vendor
The Business Intelligence Center
Delivering Insights and Profitability
Excel
Excel

110908_7
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Ingram Micro Logistics
Expanding Capabilities
Service Fees
Service Fees
Launched fee-for-service logistics business in 2000
–
Different margin and working capital dynamics than core
–
More than IT products: mobility, fashion apparel, sporting
goods, toys, etc.;  Strong  e-commerce value proposition
–
Robust new-client pipeline; Expanded to Europe in 2010
Units Handled
Units Handled
(in millions)
(in millions)
Strengthen
Strengthen

110908_8
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The
The
broadest
broadest
portfolio
portfolio
of
of
data
data
center,
center,
networking
networking
and
and
security
security
vendors,
vendors,
solutions
solutions
and
and
services
services
in
in
the
the
IT
IT
industry…
industry…
•
Serve
the
business,
sales
&
technical
needs
of
top-performing,
specialized
data
center
solution
providers
•
Dedicated
field,
marketing,
sales
and
technical
engineers
•
Advanced
technical,
marketing
and
sales
training
Advanced Solutions
Industry Leadership
Strengthen
Strengthen

110908_9
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•
Access to higher-end product
line authorizations
•
Strategic storage,
networking and software
vendor additions
Advanced Solutions
Building a More Favorable Mix
15%
30%
38%
•
Exclusive and closed-channel distribution agreements
•
Participation in more complex solution opportunities
•
Migration from transactional to relationship selling
Profitable Growth Drivers
Profitable Growth Drivers
“Value”
“Velocity”
Strengthen
Strengthen

110908_10
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Advanced Solutions
Manufacturer Partners
Strengthen
Strengthen

110908_11
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Advanced Solutions
Look Who We’ve Added…
Strengthen
Strengthen

110908_2
Advanced Solutions Partners:
De-authorized or No Traditional
Broadline Distribution
Confidential and proprietary information of Ingram Micro Inc. — Do not distribute or duplicate without Ingram Micro's express written permission.

110908_13
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Data Capture/Point-of-Sale
Global Breadth & Expertise
Entered DC/POS market in 2004 with the acquisition of
Nimax in NA; now No. 2 in  world
–
Only broad-based DC/POS distributor in Asia
Acquisition
Organic
Strengthen
Strengthen

110908_14
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Building a Cloud Solution
First to Market, Robust Offering
First distributor to embrace Cloud computing
–
Launched first-ever transactional Cloud marketplace
–
Comprehensive
portfolio of cloud
services and
products
–
EMEA, Asia-Pacific
regions developing
cloud initiatives
–
Considered a
leading Cloud
aggregator in the IT
channel
Develop
Develop

110908_15
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Cloud Service Offerings
Comprehensive Portfolio
Develop
Develop

110908_16
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A Strong Cloud Foundation
Built on Customer Collaboration
28
vendors
(11 new partners
added in ’11)
~3,000
unique reseller
customers
46
cloud service
offerings
100%+
revenue growth
projected for ‘11 and ‘12
~175
new cloud customers
added quarterly
Developing our portfolio and fueling growth
by adding leading cloud vendors and resellers
Develop
Develop

110908_17
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Incubate, Test Initiatives
Validation of the
Strategy; Explore Global
Potential
Share Lessons Learned,
Best Practices
Leverage Knowledge,
Structure and Experience
North America:
Fertile Ground for Strategic Initiatives
$ billions
basis pts
Consumer
Electronics
Cloud
Digital
Signage
DC/POS
IMLogistics
Physical
Security
Managed
Print
Divisional
Structure
2011
North America
1
1
1. For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation section of the
handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

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110908_18

110908_1
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Setting The
Financial Cornerstone
Bill Humes
Chief Financial Officer
November 15, 2011

110908_2
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Building Blocks To 2015
Drive Strong ROIC
Deepen Profitability
Steady Gross Margin Improvement
Revenue CAGR of 4.5% -
6.5%
Optimize Capital Allocation

110908_3
Solid Foundation Set For 2015
Financial Targets
*
($ Billions)
($ Billions)
(BPS)
(BPS)
(BPS)
Non-GAAP EPS*
Non-GAAP
Operating
Margin
*
* For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.
Revenue
Gross Margin

Focused On Value Creation
300-500 BPS
above WACC
Notes:  (1) 2008 ROIC included a goodwill impairment charge of $659.8M after tax.
(Percent)
*ROIC  = net operating profit after tax divided by average invested capital.  Invested capital consists of debt + equity, less cash.

110908_5
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Bridge to 2015 Operating Margin
TTM
122 BPS¹
Non-GAAP
Op. Margin
General OM
Improvement
10-20 BPS
General Operating Margin Improvement
•
Greater contribution from higher margin  
businesses
-
Enterprise
-
DC/POS
-
IML
-
Cloud
•
Pricing discipline
•
Business intelligence
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_6
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Bridge to 2015 Operating Margin
25-35 BPS
Leverage
TTM
122 BPS¹
Non-GAAP
Op. Margin
General OM
Improvement
10-20 BPS
Leverage
•Operating expense grows less than
revenue (based on 4.5%-6.5% revenue CAGR)
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_7
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Bridge to 2015 Operating Margin
25-35 BPS
15-20 BPS
Leverage
IS Cost
Reductions
TTM
122 BPS¹
Non-GAAP
Op. Margin
General OM
Improvement
10-20 BPS
IS Cost Reductions
•Elimination of redundant legacy
system expense
•Elimination of SAP
conversion/development expense
(partially offset by increased depreciation)
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_8
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Bridge to 2015 Operating Margin
25-35 BPS
15-20 BPS
10-15 BPS
Leverage
IS Cost
Reductions
Business
Improvement
TTM
122 BPS¹
Non-GAAP
Op. Margin
General OM
Improvement
10-20 BPS
Improve under-performing businesses
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_9
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Bridge to 2015 Operating Margin
25-35 BPS
15-20 BPS
15-20 BPS
10-15 BPS
Leverage
IS Cost
Reductions
Business
Improvement
TTM
122 BPS¹
Non-GAAP
Op. Margin
Global Cost
Initiatives
General OM
Improvement
10-20 BPS
Other operating expense efficiencies
•Strategic sourcing
•Shared services
•Warehouse & transportation optimization
•Other cost containment measures
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_10
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Bridge to 2015 Operating Margin
25-35 BPS
15-20 BPS
15-20 BPS
10-15 BPS
Leverage
IS Cost
Reductions
Business
Improvement
TTM
122 BPS¹
Non-GAAP
Op. Margin
Global Cost
Initiatives
Organic
Investments
(20-30 BPS)
General OM
Improvement
10-20 BPS
Organic Investments
•Strategic investment
•Organic expansion
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_11
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Bridge to 2015 Operating Margin
25-35 BPS
15-20 BPS
15-20 BPS
10-15 BPS
Leverage
IS Cost
Reductions
Business
Improvement
TTM
122 BPS¹
Non-GAAP
Op. Margin
Global Cost
Initiatives
Organic
Investments
Portfolio
Contingency
(20-30 BPS)
(20-25 BPS)
General OM
Improvement
10-20 BPS
Portfolio Contingency
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_12
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Bridge to 2015 Operating Margin
25-35 BPS
15-20 BPS
15-20 BPS
10-15 BPS
Leverage
IS Cost
Reductions
Business
Improvement
TTM
122 BPS¹
Non-GAAP
Op. Margin
Global Cost
Initiatives
Organic
Investments
(20-30 BPS)
2015
155-175 BPS
Op. Margin
General OM
Improvement
10-20 BPS
~35-55 BPS Improvement in Operating Margin
Portfolio
Contingency
(20-25 BPS)
1.  For reconciliation of GAAP to non-GAAP financial measures, please refer to slides located in the GAAP to non-GAAP Reconciliation
section of the handouts or to the Investor Relations section of the company’s website, www.ingrammicro.com.

110908_13
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Flexible Capital Allocation Strategy
2011-2015 Directional Capital Allocation¹
(1)
($ Millions)
$1.1B –
$1.3B Projected
Cumulative Operating
Cash Flow
2006-2010 Cash Allocation
Share Repurchase
Acquisitions
Capital Expenditures
Debt Paydown/Cash Retention,  
Other (net)
1. Includes $225.9M in share repurchases completed through October 2011

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Net Cash Fluctuates Significantly
Intra-Quarter
Net
cash
1
can
fluctuate
by
$500M
to
$800M+                              
intra-quarter
or
up
to
approx.
5
to
8
working
capital
days
Source: Company reports
$500M to
$800M+
Month End
Quarter End
Quarter Start
Month End
1.  Net cash equals cash less debt

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Ample Debt Capacity
$2.7B
in
Debt
Capacity
1
Notes:  (1) As of Q3 ‘11; (2) Reflects contractual capacity adjusted for amounts not supported by eligible A/R
Facilities
Overdraft/Demand
Lines/Other
Other
Committed
Facilities²
Corporate
Bond
Multi-Year Bank
Facilities
Maturities
($ Millions)
Overdraft/Demand
Lines/Other
Multi-Year
Bank Facilities
Corporate
Bond
Other Committed
Facilities²

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Disciplined Acquisition Philosophy
Strategic
-
Enhance profitability and
shareholder returns
-
Adjacent market opportunity
-
Consolidation
Enhance capabilities
-
Technical skills
-
Management team
Build portfolio of vendors,
customers, products,
services
Acquisition Rationale
Investment Requirements
Exhibiting solid financial
performance
-
Exhaustive due diligence process
Deal will yield:
-
ROIC, DCF above hurdle rates
-
Accretive to EPS in the near-term
-
Potential for significant synergies
Ease of integration
-
Good cultural fit

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Opportunity To Drive Shareholder Value
Source: Company reports
Tangible Book Value
Stock Price

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110908_1
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The Finishing Touches
Greg Spierkel
Chief
Executive
Officer
November 15, 2011

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= Clear Upside Opportunity
= Clear Upside Opportunity
The Blueprint for Success

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110908_3

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GAAP to Non-GAAP
Reconciliation

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North America Operating Margin
GAAP to Non-GAAP Reconciliation
Reconciliation of GAAP to Non-GAAP Financial Measures
Operating Margin: North America
($ in thousands)
TTM
#
2010
2009
2008
2007
2006
2005
2004
Revenues
15,086,627
$ 
14,549,103
$ 
12,326,555
$ 
14,191,995
$ 
13,923,187
$ 
13,584,978
$ 
12,216,790
$ 
11,776,679
$ 
GAAP ncome (loss) from operations
261,310
$      
230,458
$      
105,679
$      
(49,011)
$       
219,835
$      
225,183
$      
157,624
$      
130,321
$      
Operating income adjustments:
Reorganization and major-program costs
(1)
*
*
24,267
          
1,838
            
*
*
26,582
          
*
Impairment of goodwill
(2)
-
                 
-
                 
-
                 
243,190
        
-
                 
-
                 
-
                 
-
                 
Total operating income adjustments
-
                 
-
                 
24,267
          
245,027
        
-
                 
-
                 
26,582
          
-
                 
Non-GAAP income from operations
261,310
$      
230,458
$      
129,946
$      
196,016
$      
219,835
$      
225,183
$      
184,206
$      
130,321
$      
GAAP operating margin (A)
1.73%
1.58%
0.86%
-0.35%
1.58%
1.66%
1.29%
1.11%
Non-GAAP operating margin (B)
1.73%
1.58%
1.05%
1.38%
1.58%
1.66%
1.51%
1.11%
# Trailing Twelve Months ended October 1, 2011.
* Items are negligible.  Impact on operating margin was 1 basis point or less.
(A) Represents GAAP income (loss) from operations divided by revenues.
(B) Represents Non-GAAP income from operations divided by revenues.
Fiscal Years
(1) Includes (i) net reorganization costs of $21,133, $1,838 and $9,649 in 2009, 2008, and 2005 respectively and (ii) other costs associated with cost reduction actions
totaling $3,134 and $16,933 charged to selling general and administrative expenses in 2009 and 2005 respectively.
(2) Includes a charge for the impairment of goodwill of $243,190 in  2008.

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Worldwide Operating Margin
GAAP to Non-GAAP Reconciliation

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Earning Per Share
GAAP to Non-GAAP Reconciliation

110908_8
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Incubate, Test Initiatives
Validation of the Strategy;
Explore Global Potential
Share Lessons Learned,
Best Practices
Leverage Knowledge,
Structure and Experience
North America:
Fertile Ground for Strategic Initiatives
$ billions
basis pts
Consumer
Electronics
Cloud
Digital
Signage
DC/POS
IMLogistics
Physical
Security
Managed
Print
Divisional
Structure
2011
North America
1.
For
reconciliation
of
GAAP
to
non-GAAP
financial
measures,
please
refer
to
slides
located
in
the
GAAP
to
non-GAAP
Reconciliation
section
of
the
handouts
or
to
the
Investor
Relations
section
of
the
company’s
website,
www.ingrammicro.com.

Solid Foundation Set For 2015
Financial Targets
*
*
2008
Non-GAAP
op.
margin
and
Non-GAAP
EPS
were
less
than
$0.00.
For
reconciliation
of
GAAP
to
non-GAAP
financial
measures,
please
refer
to
slides
located
in
the
GAAP
to
non-GAAP
Reconciliation
section
of
the
handouts
or
to
the
Investor
Relations
section
of
the
company’s
website,
www.ingrammicro.com.

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110908_10