8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

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

Date of Report (Date of earliest event reported): July 26, 2023

TE CONNECTIVITY LTD.

(Exact name of registrant as specified in its charter)

Switzerland	98-0518048
(Jurisdiction of Incorporation)	(IRS Employer Identification Number)

001-33260

(Commission File Number)

Mühlenstrasse 26, CH-8200 Schaffhausen

Switzerland

(Address of Principal Executive Offices, including Zip Code)

+41 (0)52 633 66 61

(Registrant’s telephone number, including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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

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

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

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

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

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

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

Emerging growth company  ☐

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

Item 2.02. Results of Operations and Financial Condition

On July 26, 2023, TE Connectivity Ltd. (the “Company”) issued a press release reporting the Company’s third quarter results for fiscal 2023. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated by reference in this Item 2.02.

Item 7.01. Regulation FD Disclosure

The Company will hold a conference call and webcast on July 26, 2023 (see information in the press release attached hereto as Exhibit 99.1 under “Conference Call and Webcast”). A copy of the slide materials to be discussed at the conference call and webcast is being furnished pursuant to Regulation FD as Exhibit 99.2 and is incorporated herein by reference, and the slide materials also can be accessed at the “Investors” section of the Company’s website (www.te.com).

Item 9.01.  Financial Statements and Exhibits

(d)       Exhibits

Exhibit No.	Description
99.1	Press release issued July 26, 2023
99.2	Presentation - TE Connectivity Q3 2023 Earnings Call (July 26, 2023)
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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

Date: July 26, 2023	TE CONNECTIVITY LTD.
	By: /s/ Heath A. Mitts
	Name: Heath A. Mitts ​
	Title: Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

NEWS RELEASE

te.com

TE Connectivity announces third quarter results for fiscal year 2023

EPS exceeds, sales in line with guidance; continuing strong cash generation

SCHAFFHAUSEN, Switzerland – July 26, 2023 – TE Connectivity Ltd. (NYSE: TEL) today reported results for the fiscal third quarter ended June 30, 2023.

Third Quarter Highlights

● Net sales were $4 billion, in line with guidance, with year-over-year growth in the Transportation and Industrial segments offsetting an expected decline in Communications.

● GAAP diluted earnings per share (EPS) from continuing operations were $1.67, and adjusted EPS were $1.77, both exceeding guidance.

● Order levels were $4 billion, reflecting stability across all segments.

● Cash flow from operating activities of $779 million and strong free cash flow of $614 million in the quarter, with approximately $1.2 billion returned to shareholders year to date

● Published Connecting Our World report, highlighting commitments to the Science Based Targets initiative

“We delivered earnings above guidance, along with year-over-year sales growth in our Transportation and Industrial segments, as we continue to benefit from the strategic positioning of our portfolio around key growth and sustainability trends. Our leading global position in electric vehicles once again allowed us to deliver a strong performance in Transportation, and we continued to capitalize on growth momentum in renewable energy applications as well as ongoing market recovery in commercial air and medical in our Industrial segment,” said TE Connectivity CEO Terrence Curtin. “While our Communications segment declined as expected, we are excited about our increased design win momentum in AI applications, where our high-speed connectivity solutions will drive future growth.

“Our year-to-date free cash flow is up over 40 percent year over year, demonstrating our strong business model. We are delivering on our commitment to expand margins in the second half, reinforced by our third quarter performance and fourth quarter guidance. We remain confident that we are well positioned for long-term profitable growth, as our customers depend on our technology to advance important trends including e-mobility, renewable energy, factory automation and artificial intelligence.”

Fourth Quarter FY23 Outlook

For the fourth quarter of fiscal 2023, the company expects net sales of approximately $4 billion. GAAP EPS from continuing operations are expected to be approximately $1.63, with adjusted EPS of approximately $1.75.

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 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 (888) 330-3417and for international callers, the dial-in number is (646) 960-0804.

● A replay of the conference call will be available on TE Connectivity’s investor website at investors.te.com at 11:30 a.m. ET on July 26, 2023.

About TE Connectivity

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

Non-GAAP Financial Measures

We present non-GAAP performance and liquidity measures as we believe it is appropriate for investors to consider adjusted financial measures in addition to results in accordance with accounting principles generally accepted in the U.S. (“GAAP”). These non-GAAP financial measures provide supplemental information and

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

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

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

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

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

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

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

•Adjusted Earnings Per Share – represents diluted earnings per share from continuing operations (the most comparable GAAP financial measure) before special items including restructuring and other charges, acquisition-related charges, impairment of goodwill, tax sharing income related to adjustments to prior period tax returns and other tax items, other income or charges, and certain significant tax items, if any, and, if applicable, the related tax effects. This measure is a significant component in our incentive compensation plans.

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

Forward-Looking Statements

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

impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation, including the effects of Swiss tax reform. In addition, the extent to which COVID-19 will impact our business and our financial results will depend on future developments, which are highly uncertain and cannot be predicted. Such developments may include the geographic spread of the virus, the severity of the virus, the duration of the outbreak, the impact on our suppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to the outbreak in jurisdictions in which we operate, and the possible impact on the global economy and local economies in which we operate. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept 30, 2022, as well as in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other reports filed by us with the U.S. Securities and Exchange Commission.

# # #

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

# # #

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

	For the Quarters Ended				For the Nine Months Ended
	June 30,		June 24,		June 30,		June 24,
	2023		2022		2023		2022
	(in millions, except per share data)
Net sales	$	3,998	$	4,097	$	11,999	$	11,922
Cost of sales		2,699		2,769		8,229		8,027
Gross margin		1,299		1,328		3,770		3,895
Selling, general, and administrative expenses		431		393		1,258		1,172
Research, development, and engineering expenses		176		179		534		539
Acquisition and integration costs		9		11		26		29
Restructuring and other charges, net		53		26		283		59
Operating income		630		719		1,669		2,096
Interest income		18		3		39		9
Interest expense		(20)		(18)		(61)		(48)
Other income (expense), net		(4)		4		(13)		24
Income from continuing operations before income taxes		624		708		1,634		2,081
Income tax expense		(96)		(116)		(283)		(362)
Income from continuing operations		528		592		1,351		1,719
Income from discontinued operations, net of income taxes		—		2		7		1
Net income	$	528	$	594	$	1,358	$	1,720
Basic earnings per share:
Income from continuing operations	$	1.68	$	1.84	$	4.28	$	5.31
Income from discontinued operations		—		0.01		0.02		—
Net income		1.68		1.84		4.30		5.31
Diluted earnings per share:
Income from continuing operations	$	1.67	$	1.83	$	4.25	$	5.26
Income from discontinued operations		—		0.01		0.02		—
Net income		1.67		1.83		4.27		5.26
Weighted-average number of shares outstanding:
Basic		315		322		316		324
Diluted		317		324		318		327

TE CONNECTIVITY LTD.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	June 30,		September 30,
	2023		2022
	(in millions, except share data)
Assets
Current assets:
Cash and cash equivalents	$	1,131	$	1,088
Accounts receivable, net of allowance for doubtful accounts of $42 and $45, respectively		2,998		2,865
Inventories		2,801		2,676
Prepaid expenses and other current assets		719		639
Total current assets		7,649		7,268
Property, plant, and equipment, net		3,781		3,567
Goodwill		5,528		5,258
Intangible assets, net		1,242		1,288
Deferred income taxes		2,680		2,498
Other assets		821		903
Total assets	$	21,701	$	20,782
Liabilities, redeemable noncontrolling interests, and shareholders' equity
Current liabilities:
Short-term debt	$	291	$	914
Accounts payable		1,616		1,593
Accrued and other current liabilities		2,351		2,125
Total current liabilities		4,258		4,632
Long-term debt		3,915		3,292
Long-term pension and postretirement liabilities		735		695
Deferred income taxes		211		244
Income taxes		335		304
Other liabilities		791		718
Total liabilities		10,245		9,885
Commitments and contingencies
Redeemable noncontrolling interests		107		95
Shareholders' equity:
Common shares, CHF 0.57 par value, 322,470,281 shares authorized and issued, and 330,830,781 shares authorized and issued, respectively		142		146
Accumulated earnings		12,372		12,832
Treasury shares, at cost, 8,271,688 and 12,749,540 shares, respectively		(1,085)		(1,681)
Accumulated other comprehensive loss		(80)		(495)
Total shareholders' equity		11,349		10,802
Total liabilities, redeemable noncontrolling interests, and shareholders' equity	$	21,701	$	20,782

TE CONNECTIVITY LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Quarters Ended				For the Nine Months Ended
	June 30,		June 24,		June 30,		June 24,
	2023		2022		2023		2022
	(in millions)
Cash flows from operating activities:
Net income	$	528	$	594	$	1,358	$	1,720
Income from discontinued operations, net of income taxes		—		(2)		(7)		(1)
Income from continuing operations		528		592		1,351		1,719
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Depreciation and amortization		200		205		594		597
Deferred income taxes		(51)		(60)		(121)		(18)
Non-cash lease cost		36		34		106		98
Provision for losses on accounts receivable and inventories		13		11		82		79
Share-based compensation expense		32		28		95		88
Impairment of held for sale businesses		—		—		67		—
Other		17		(23)		85		(19)
Changes in assets and liabilities, net of the effects of acquisitions and divestitures:
Accounts receivable, net		22		(51)		(202)		(108)
Inventories		(50)		(28)		(323)		(439)
Prepaid expenses and other current assets		(5)		21		(30)		57
Accounts payable		(36)		(63)		68		(48)
Accrued and other current liabilities		69		(11)		(14)		(316)
Income taxes		16		26		51		53
Other		(12)		(102)		185		(219)
Net cash provided by operating activities		779		579		1,994		1,524
Cash flows from investing activities:
Capital expenditures		(166)		(205)		(538)		(556)
Proceeds from sale of property, plant, and equipment		1		35		3		98
Acquisition of businesses, net of cash acquired		—		(14)		(108)		(116)
Proceeds from divestiture of businesses, net of cash retained by businesses sold		(3)		—		48		16
Other		(1)		(1)		22		(10)
Net cash used in investing activities		(169)		(185)		(573)		(568)
Cash flows from financing activities:
Net increase (decrease) in commercial paper		3		237		(82)		237
Proceeds from issuance of debt		—		—		499		588
Repayment of debt		—		—		(591)		(558)
Proceeds from exercise of share options		13		4		33		34
Repurchase of common shares		(208)		(378)		(674)		(1,086)
Payment of common share dividends to shareholders		(186)		(180)		(541)		(506)
Other		(2)		(1)		(30)		(39)
Net cash used in financing activities		(380)		(318)		(1,386)		(1,330)
Effect of currency translation on cash		(4)		(5)		8		(9)
Net increase (decrease) in cash, cash equivalents, and restricted cash		226		71		43		(383)
Cash, cash equivalents, and restricted cash at beginning of period		905		749		1,088		1,203
Cash, cash equivalents, and restricted cash at end of period	$	1,131	$	820	$	1,131	$	820
Supplemental cash flow information:
Interest paid on debt, net	$	9	$	10	$	48	$	39
Income taxes paid, net of refunds		131		149		354		326

TE CONNECTIVITY LTD.

RECONCILIATION OF FREE CASH FLOW (UNAUDITED)

	For the Quarters Ended				For the Nine Months Ended
	June 30,		June 24,		June 30,		June 24,
	2023		2022		2023		2022
	(in millions)
Net cash provided by operating activities	$	779	$	579	$	1,994	$	1,524
Excluding:
Cash (collected) paid pursuant to collateral requirements related to cross-currency swap contracts		—		14		—		(28)
Capital expenditures, net		(165)		(170)		(535)		(458)
Free cash flow (1)	$	614	$	423	$	1,459	$	1,038
(1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

CONSOLIDATED SEGMENT DATA (UNAUDITED)

	For the Quarters Ended								For the Nine Months Ended
	June 30,				June 24,				June 30,				June 24,
	2023				2022				2023				2022
	($ in millions)
	Net Sales				Net Sales				Net Sales				Net Sales
Transportation Solutions	$	2,433			$	2,300			$	7,175			$	6,772
Industrial Solutions		1,141				1,126				3,392				3,246
Communications Solutions		424				671				1,432				1,904
Total	$	3,998			$	4,097			$	11,999			$	11,922
	Operating		Operating		Operating		Operating		Operating		Operating		Operating		Operating
	Income		Margin		Income		Margin		Income		Margin		Income		Margin
Transportation Solutions	$	425	17.5	%	$	383	16.7	%	$	1,040	14.5	%	$	1,187	17.5	%
Industrial Solutions		150	13.1			165	14.7			440	13.0			430	13.2
Communications Solutions		55	13.0			171	25.5			189	13.2			479	25.2
Total	$	630	15.8	%	$	719	17.5	%	$	1,669	13.9	%	$	2,096	17.6	%
	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	$	452	18.6	%	$	397	17.3	%	$	1,221	17.0	%	$	1,211	17.9	%
Industrial Solutions		180	15.8			186	16.5			529	15.6			501	15.4
Communications Solutions		60	14.2			178	26.5			228	15.9			497	26.1
Total	$	692	17.3	%	$	761	18.6	%	$	1,978	16.5	%	$	2,209	18.5	%
(1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NET SALES GROWTH (DECLINE) (UNAUDITED)

	Change in Net Sales for the Quarter Ended June 30, 2023
	versus Net Sales for the Quarter Ended June 24, 2022
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (Decline) (1)				Translation (2)		(Divestiture)
	($ in millions)
Transportation Solutions(3):
Automotive	$	118	7.2	%	$	143	8.8	%	$	(25)	$	—
Commercial transportation		3	0.8			9	2.1			(6)		—
Sensors		12	4.4			11	4.1			1		—
Total		133	5.8			163	7.1			(30)		—
Industrial Solutions (3):
Industrial equipment		(48)	(10.2)			(46)	(9.8)			(2)		—
Aerospace, defense, and marine		22	8.1			35	13.2			1		(14)
Energy		23	11.1			16	8.0			(3)		10
Medical		18	10.2			19	10.8			(1)		—
Total		15	1.3			24	2.2			(5)		(4)
Communications Solutions (3):
Data and devices		(173)	(40.7)			(174)	(41.2)			(4)		5
Appliances		(74)	(30.1)			(71)	(28.9)			(3)		—
Total		(247)	(36.8)			(245)	(36.7)			(7)		5
Total	$	(99)	(2.4)	%	$	(58)	(1.4)	%	$	(42)	$	1

	Change in Net Sales for the Nine Months Ended June 30, 2023
	versus Net Sales for the Nine Months Ended June 24, 2022
	Net Sales				Organic Net Sales						Acquisitions/
	Growth (Decline)				Growth (Decline) (1)				Translation (2)		(Divestiture)
	($ in millions)
Transportation Solutions(3):
Automotive	$	389	8.1	%	$	651	13.5	%	$	(262)	$	—
Commercial transportation		(3)	(0.3)			42	3.6			(45)		—
Sensors		17	2.1			41	5.1			(24)		—
Total		403	6.0			734	10.8			(331)		—
Industrial Solutions (3):
Industrial equipment		(73)	(5.2)			(17)	(1.2)			(56)		—
Aerospace, defense, and marine		81	10.5			118	15.2			(17)		(20)
Energy		73	12.6			82	14.2			(24)		15
Medical		65	12.9			68	13.6			(3)		—
Total		146	4.5			251	7.7			(100)		(5)
Communications Solutions (3):
Data and devices		(304)	(25.9)			(294)	(25.1)			(28)		18
Appliances		(168)	(23.0)			(145)	(19.8)			(23)		—
Total		(472)	(24.8)			(439)	(23.1)			(51)		18
Total	$	77	0.6	%	$	546	4.6	%	$	(482)	$	13
(1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures.
(2) Represents the change in net sales resulting from changes in foreign currency exchange rates.
(3) Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended June 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	%
Other expense, net	$	(4)		$	—	$	—	$	(4)
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 Quarter Ended June 24, 2022

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	383		$	5	$	9	$	—	$	397
Industrial Solutions		165			6		15		—		186
Communications Solutions		171			1		6		—		178
Total	$	719		$	12	$	30	$	—	$	761
Operating margin		17.5	%								18.6	%
Other income, net	$	4		$	—	$	—	$	—	$	4
Income tax expense	$	(116)		$	(3)	$	(6)	$	(21)	$	(146)
Effective tax rate		16.4	%								19.5	%
Income from continuing operations	$	592		$	9	$	24	$	(21)	$	604
Diluted earnings per share from continuing operations	$	1.83		$	0.03	$	0.07	$	(0.06)	$	1.86
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Includes $26 million recorded in net restructuring and other charges and $4 million recorded in cost of sales.
(3) Includes a $21 million income tax benefit related to the tax impacts of an intercompany transaction.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Nine Months Ended June 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	$	1,040		$	2	$	179	$	1,221
Industrial Solutions		440			21		68		529
Communications Solutions		189			3		36		228
Total	$	1,669		$	26	$	283	$	1,978
Operating margin		13.9	%						16.5	%
Other expense, net	$	(13)		$	—	$	—	$	(13)
Income tax expense	$	(283)		$	(5)	$	(82)	$	(370)
Effective tax rate		17.3	%						19.0	%
Income from continuing operations	$	1,351		$	21	$	201	$	1,573
Diluted earnings per share from continuing operations	$	4.25		$	0.07	$	0.63	$	4.95
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Nine Months Ended June 24, 2022

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,187		$	12	$	12	$	—	$	1,211
Industrial Solutions		430			24		47		—		501
Communications Solutions		479			2		16		—		497
Total	$	2,096		$	38	$	75	$	—	$	2,209
Operating margin		17.6	%								18.5	%
Other income, net	$	24		$	—	$	—	$	(11)	$	13
Income tax expense	$	(362)		$	(8)	$	(18)	$	(18)	$	(406)
Effective tax rate		17.4	%								18.6	%
Income from continuing operations	$	1,719		$	30	$	57	$	(29)	$	1,777
Diluted earnings per share from continuing operations	$	5.26		$	0.09	$	0.17	$	(0.09)	$	5.43
(1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.
(2) Includes $59 million recorded in net restructuring and other charges and $16 million recorded in cost of sales.
(3) Includes a $57 million income tax benefit related to the tax impacts of an intercompany transaction, $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower tax rate enacted in the canton of Schaffhausen, and $12 million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income pursuant to the indemnification terms of the purchase agreement.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO GAAP FINANCIAL MEASURES

For the Quarter Ended September 30, 2022

(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	$	347		$	4	$	56	$	—	$	407
Industrial Solutions		177			8		19		—		204
Communications Solutions		136			3		7		—		146
Total	$	660		$	15	$	82	$	—	$	757
Operating margin		15.1	%								17.4	%
Other income, net	$	4		$	—	$	—	$	—	$	4
Income tax (expense) benefit	$	56		$	(3)	$	(16)	$	(182)	$	(145)
Effective tax rate		(8.6)	%								19.4	%
Income from continuing operations	$	708		$	12	$	66	$	(182)	$	604
Diluted earnings per share from continuing operations	$	2.21		$	0.04	$	0.21	$	(0.57)	$	1.88
(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 a $67 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance associated primarily with improved current and expected future operating profit and taxable income.
(3) 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 30, 2022

(UNAUDITED)

				Adjustments
				Acquisition-		Restructuring
				Related		and Other				Adjusted
	U.S. GAAP			Charges (1)		Charges, Net (1)(2)		Tax Items (3)		(Non-GAAP) (4)
	($ in millions, except per share data)
Operating income:
Transportation Solutions	$	1,534		$	16	$	68	$	—	$	1,618
Industrial Solutions		607			32		66		—		705
Communications Solutions		615			5		23		—		643
Total	$	2,756		$	53	$	157	$	—	$	2,966
Operating margin		16.9	%								18.2	%
Other income, net	$	28		$	—	$	—	$	(11)	$	17
Income tax expense	$	(306)		$	(11)	$	(34)	$	(200)	$	(551)
Effective tax rate		11.2	%								18.8	%
Income from continuing operations	$	2,427		$	42	$	123	$	(211)	$	2,381
Diluted earnings per share from continuing operations	$	7.47		$	0.13	$	0.38	$	(0.65)	$	7.33
(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 $141 million recorded in net restructuring and other charges and $16 million recorded in cost of sales.
(3) Includes a $124 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance associated primarily with improved current and expected future operating profit and taxable income. Also includes $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen and $12 million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income pursuant to the terms of the purchase agreement.
(4) See description of non-GAAP financial measures.

TE CONNECTIVITY LTD.

RECONCILIATION OF FORWARD-LOOKING NON-GAAP FINANCIAL MEASURES

TO FORWARD-LOOKING GAAP FINANCIAL MEASURES

As of July 26, 2023

(UNAUDITED)

	Outlook for
	Quarter Ending
	September 29,
	2023
Diluted earnings per share from continuing operations	$	1.63
Restructuring and other charges, net		0.10
Acquisition-related charges		0.02
Adjusted diluted earnings per share from continuing operations (1)	$	1.75
(1) See description of non-GAAP financial measures.

EX-99.2

Exhibit 99.2

EVERY CONNECTION COUNTS TE Connectivity Third Quarter 2023 Earnings July 26, 2023

Forward-Looking Statements and Non-GAAP Financial Measures 2 Forward-Looking Statements This presentation contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation 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, and the impact on our operations resulting from the coronavirus disease 2019 (“COVID-19”). Examples of factors that could cause actual results to differ materially from those described in the forward-looking statements include, among others, the extent, severity and duration of COVID-19 negatively affecting our business operations; business, economic, competitive and regulatory risks, such as conditions affecting demand for products in the automotive and other industries we serve; competition and pricing pressure; fluctuations in foreign currency exchange rates and commodity prices; natural disasters and political, economic and military instability in countries in which we operate, including continuing military conflict between Russia and Ukraine resulting from Russia’s invasion of Ukraine or escalating tensions in surrounding countries; developments in the credit markets; future goodwill impairment; compliance with current and future environmental and other laws and regulations; and the possible effects on us of changes in tax laws, tax treaties and other legislation, including the effects of Swiss tax reform. In addition, the extent to which COVID-19 will impact our business and our financial results will depend on future developments, which are highly uncertain and cannot be predicted. Such developments may include the geographic spread of the virus, the severity of the virus, the duration of the outbreak, the impact on our suppliers’ and customers’ supply chains, the actions that may be taken by various governmental authorities in response to the outbreak in jurisdictions in which we operate, and the possible impact on the global economy and local economies in which we operate. More detailed information about these and other factors is set forth in TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal year ended Sept. 30, 2022 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.

Earnings Highlights Q3 Sales in line with Expectations & Adjusted EPS Exceeding Guidance • Sales of $4.0B, with Y/Y organic growth in the Transportation and Industrial Segments • Transportation up 7% organically Y/Y, with growth in all businesses • Industrial up 2% organically Y/Y, with growth in AD&M, Medical, and Energy • Communications down 37% organically Y/Y, due to expected market weakness • Orders of ~$4.0B, flat sequentially, indicating stability • Adjusted Operating Margins of 17.3%, Adjusted EPS of $1.77 • Expanded margins 130bps sequentially driven by the Transportation & Industrial segments • Strong Free Cash Flow generation of ~$1.5B YTD, up ~40% Y/Y; ~$1.2B returned to shareholders • Connecting Our World report issued, with commitments to the Science Based Targets Initiative Q4 Guidance • Expect Q4 Sales of ~$4.0B and Adjusted EPS ~$1.75 • Sales & EPS expected to be similar to Q3 levels, with Y/Y Sales growth in the Transportation & Industrial Segments Q4 sales comparisons to prior year exclude the impact of an additional week in the fourth quarter of fiscal 2022 which contributed sales of $306 million 3 Organic Net Sales Growth (Decline), Adjusted EPS, Adjusted Operating Margin and Free Cash Flow are non-GAAP financial measures; see Appendix for descriptions and reconciliations

Reported FY22 FY23 FY23 Q3 Growth Q3 Q2 Q3 Y/Y Q/Q Transportation 2,303 2,412 2,374 3% (2)% Industrial 1,312 1,193 1,183 (10)% (1)% Communications 582 388 407 (30)% 5% Total TE 4,197 3,993 3,964 (6)% (1)% Book to Bill 1.02 0.96 0.99 Segment Orders Summary ($ in millions) 4 • Transportation book to bill of 0.98, reflecting ongoing stable demand • Industrial book to bill of 1.04, reflecting ongoing strength in AD&M, Energy and Medical end markets • Communications book to bill of 0.96, with continued consumption of inventory across our customers’ supply chain, offset by new orders for AI applications Order Patterns Reflecting Overall Stability in All Segments

Transportation Solutions $2,300 $2,433 Q3 2022 Q3 2023 • Automotive organic growth across all regions. Strong performance continues to be driven by our leading position in electric vehicles along with electronification trends • Commercial Transportation organic growth in Asia and Europe, partially offset by declines in North America • Sensors organic growth driven by automotive applications Y/Y Growth Rates Reported Organic Automotive $1,747 7% 9% Commercial Transportation 403 1% 2% Sensors 283 4% 4% Transportation Solutions $2,433 6% 7% Q3 Sales Q3 Business Performance Q3 Adjusted Operating Margin $ in Millions Reported Up 6% Organic Up 7% Margins reflecting strong operational performance along with benefit of price increases 5 Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations 17.3% 18.6% Q3 2022 Q3 2023 Adjusted EBITDA Margin 23.2% 23.5%

Industrial Solutions $1,126 $1,141 Q3 2022 Q3 2023 Y/Y Growth Rates Reported Organic Industrial Equipment $423 (10)% (10)% Aerospace, Defense and Marine 293 8% 13% Energy 230 11% 8% Medical 195 10% 11% Industrial Solutions $1,141 1% 2% Margins reflect expected volume decline in Industrial Equipment business 16.5% 15.8% Q3 2022 Q3 2023 Adjusted EBITDA Margin 20.7% 20.7% • Industrial Equipment decline driven by inventory digestion in the distribution channel • AD&M organic growth reflects ongoing market improvement in Commercial Aerospace • Energy organic growth across all regions, with continued momentum in renewable applications • Medical organic growth with increases in interventional procedures $ in Millions Q3 Sales Q3 Business Performance Q3 Adjusted Operating Margin Reported Up 1% Organic Up 2% 6 Organic Net Sales Growth (Decline), Adjusted Operating Margin and Adjusted EBITDA Margin are non-GAAP financial measures; see Appendix for descriptions and reconciliations

$671 $424 Q3 2022 Q3 2023 Reported Down 37% Organic Down 37% Y/Y Growth Rates Reported Organic Data & Devices $252 (41)% (41)% Appliances 172 (30)% (29)% Communications Solutions $424 (37)% (37)% • Data & Devices decline driven by ongoing consumption of inventory across our customers’ supply chain • Appliances impacted by market weakness in all 26.5% regions 14.2% Q3 2022 Q3 2023 Margin impacted by lower volume 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 Q3 Sales Q3 Adjusted Operating Margin Q3 Business Performance $ in Millions Adjusted EBITDA Margin 29.7% 19.8% 7

Q3 Financial Summary ($ in Millions, except per share amounts) Q3 FY22 Q3 FY23 Net Sales $ 4,097 $ 3,998 Operating Income $ 719 $ 630 Operating Margin 17.5% 15.8% Acquisition-Related Charges 12 9 Restructuring & Other Charges, Net* 30 53 Adjusted Operating Income $ 761 $ 692 Adjusted Operating Margin 18.6% 17.3% Earnings Per Share** $ 1.83 $ 1.67 Acquisition-Related Charges 0.03 0.02 Restructuring & Other Charges, Net 0.07 0.08 Tax Items (0.06) - Adjusted EPS $ 1.86 $ 1.77 ** Represents Diluted Earnings Per Share from Continuing Operations Adjusted Operating Income, Adjusted Operating Margin and Adjusted EPS are non-GAAP financial measures; see Appendix for descriptions and reconciliations 8 * Net restructuring charges represent $42M of the $53M in Q3 FY23

Q3 Financial Performance $4,097 $4,160 $3,998 Q3 2022 Q2 2023 Q3 2023 $1.86 $1.65 $1.77 Q3 2022 Q2 2023 Q3 2023 Adjusted EBITDA Margin 23.6% 20.9% 22.3% 18.6% 16.0% 17.3% Q3 2022 Q2 2023 Q3 2023 Adjusted Operating Margin, Adjusted EPS, Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures; see Appendix for descriptions and reconciliations Sales Adjusted Operating Margin Adjusted EPS Free Cash Flow Sequential Growth in Margins & EPS Driven by Strong Operational Performance 9 $1,038 $1,459 YTD 2022 YTD 2023 $ in Millions $ in Millions +40% Y/Y ~$1.2B returned to shareholders YTD

EVERY CONNECTION COUNTS Additional Information

Y/Y Q3 2023 Adjusted EPS is a non-GAAP financial measure; see Appendix for description and reconciliation Sales (in millions) Adjusted EPS Q3 2022 Results $4,097 $1.86 Operational Performance (57) (0.06) FX Impact (42) (0.05) Tax Rate Impact - 0.02 Q3 2023 Results $3,998 $1.77 11

Y/Y Q4 2023 Adjusted EPS, Net Sales Excluding the Impact of the Additional Week, and Adjusted EPS Excluding the Impact of the Additional Week are non-GAAP financial measures; see Appendix for descriptions and reconciliations Sales (in millions) Adjusted EPS Q4 2022 Results (13 weeks)* $4,053 $1.75 Operational Performance (121) 0.01 FX Impact 68 (0.02) Tax Rate Impact - 0.01 Q4 2023 Guidance $4,000 $1.75 12 * Note: Q4 FY22 13 week does not include the impact of the additional week which contributed sales of $306M and Adjusted EPS of $0.13

($ in Millions) Q3 2022 Q3 2023 Beginning Cash Balance $749 $905 Free Cash Flow 423 614 Dividends (180) (186) Share repurchases (378) (208) Net increase in debt 237 3 Acquisition of business, net of cash acquired (14) - Other (17) 3 Ending Cash Balance $820 $1,131 Total Debt $4,202 $4,206 A/R $3,132 $2,998 Days Sales Outstanding* 69 68 Inventory $3,028 $2,801 Days on Hand* 96 90 Accounts Payable $1,917 $1,616 Days Outstanding* 62 55 Free Cash Flow and Working Capital Liquidity, Cash & Debt ($ in Millions) Q3 2022 Q3 2023 Cash from Operating Activities $579 $779 Capital expenditures, net Cash paid pursuant to collateral requirements related to cross-currency swap contracts (170) 14 (165) - Free Cash Flow $423 $614 Free Cash Flow is a non-GAAP financial measure; see Appendix for description and reconciliation * Adjusted to exclude the impact of acquisitions Q3 Balance Sheet & Cash Flow Summary 13

EVERY CONNECTION COUNTS Appendix

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

16 • 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. • Net Sales Excluding the Impact of the Additional Week, Net Sales Growth (Decline) Excluding the Impact of the Additional Week, Organic Net Sales Growth (Decline) Excluding the Impact of the Additional Week, and Adjusted Earnings Per Share Excluding the Impact of the Additional Week – represent certain GAAP and non-GAAP financial measures excluding the impact of the additional week in the fourth quarter of the fiscal year for fiscal years which are 53 weeks in length. • Free Cash Flow (FCF) – is a useful measure of our ability to generate cash. The difference between net cash provided by operating activities (the most comparable GAAP financial measure) and Free Cash Flow consists mainly of significant cash outflows and inflows that we believe are useful to identify. We believe Free Cash Flow provides useful information to investors as it provides insight into the primary cash flow metric used by management to monitor and evaluate cash flows generated from our operations. Free Cash Flow is defined as net cash provided by operating activities excluding voluntary pension contributions and the cash impact of special items, if any, minus net capital expenditures. Voluntary pension contributions are excluded from the GAAP financial measure because this activity is driven by economic financing decisions rather than operating activity. Certain special items, including net payments related to pre-separation tax matters and cash paid (collected) pursuant to collateral requirements related to cross-currency swap contracts, are also excluded by management in evaluating Free Cash Flow. Net capital expenditures consist of capital expenditures less proceeds from the sale of property, plant, and equipment. These items are subtracted because they represent long-term commitments. In the calculation of Free Cash Flow, we subtract certain cash items that are ultimately within management’s and the Board of Directors’ discretion to direct and may imply that there is less or more cash available for our programs than the most comparable GAAP financial measure indicates. It should not be inferred that the entire Free Cash Flow amount is available for future discretionary expenditures, as our definition of Free Cash Flow does not consider certain non-discretionary expenditures, such as debt payments. In addition, we may have other discretionary expenditures, such as discretionary dividends, share repurchases, and business acquisitions, that are not considered in the calculation of Free Cash Flow. • 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.)

Segment Summary 17 Transportation Solutions $ 2,433 $ 2,300 $ 7,175 $ 6,772 Industrial Solutions 1,141 1,126 3,392 3,246 Communications Solutions 424 671 1,432 1,904 Total $ 3,998 $ 4,097 $ 11,999 $ 11,922 O perating O perating O perating O perating Margin Margin Margin Margin Transportation Solutions $ 425 17.5 % $ 383 16.7 % $ 1,040 14.5 % $ 1,187 17.5 % Industrial Solutions 150 13.1 165 14.7 440 13.0 430 13.2 Communications Solutions 55 13.0 171 25.5 189 13.2 479 25.2 Total $ 630 15.8 % $ 719 17.5 % $ 1,669 13.9 % $ 2,096 17.6 % Adjusted Adjusted Adjusted Adjusted O perating O perating O perating O perating Margin (1) Margin (1) Margin (1) Margin (1) Transportation Solutions $ 452 18.6 % $ 397 17.3 % $ 1,221 17.0 % $ 1,211 17.9 % Industrial Solutions 180 15.8 186 16.5 529 15.6 501 15.4 Communications Solutions 60 14.2 178 26.5 228 15.9 497 26.1 Total $ 692 17.3 % $ 761 18.6 % $ 1,978 16.5 % $ 2,209 18.5 % (1) Adjusted operating income and adjusted operating margin are non-GAAP financial measures. See description of non-GAAP financial measures. 2023 2022 ($ 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 2023 2022 For the Q uarters Ended June 30, June 24, June 30, June 24, For the Nine Months Ended

Reconciliation of Net Sales Growth 18 Transportation Solutions (3): Automotive $ 118 7.2 % $ 143 8.8 % $ (25) $ — Commercial transportation 3 0.8 9 2.1 (6) — Sensors 12 4.4 11 4.1 1 — Total 133 5.8 163 7.1 (30) — Industrial Solutions (3): Industrial equipment (48) (10.2) (46) (9.8) (2) — Aerospace, defense, and marine 22 8.1 35 13.2 1 (14) Energy 23 11.1 16 8.0 (3) 10 Medical 18 10.2 19 10.8 (1) — Total 15 1.3 24 2.2 (5) (4) Communications Solutions (3) : Data and devices (173) (40.7) (174) (41.2) (4) 5 Appliances (74) (30.1) (71) (28.9) (3) — Total (247) (36.8) (245) (36.7) (7) 5 Total $ (99) (2.4) % $ (58) (1.4) % $ (42) $ 1 ($ in millions) Translation (2) Acquisitions/ (Divestiture) Net Sales Growth (Decline) O rganic Net Sales Growth (Decline) (1) Change in Net Sales for the Q uarter Ended June 30, 2023 versus Net Sales for the Q uarter Ended June 24, 2022 Transportation Solutions (3): Automotive $ 389 8.1 % $ 651 13.5 % $ (262) $ — Commercial transportation (3) (0.3) 42 3.6 (45) — Sensors 17 2.1 41 5.1 (24) — Total 403 6.0 734 10.8 (331) — Industrial Solutions (3) : Industrial equipment (73) (5.2) (17) (1.2) (56) — Aerospace, defense, and marine 81 10.5 118 15.2 (17) (20) Energy 73 12.6 82 14.2 (24) 15 Medical 65 12.9 68 13.6 (3) — Total 146 4.5 251 7.7 (100) (5) Communications Solutions (3): Data and devices (304) (25.9) (294) (25.1) (28) 18 Appliances (168) (23.0) (145) (19.8) (23) — Total (472) (24.8) (439) (23.1) (51) 18 Total $ 77 0.6 % $ 546 4.6 % $ (482) $ 13 Growth (Decline) Growth (Decline) (1) Translation (2) (Divestiture) Change in Net Sales for the Nine Months Ended June 30, 2023 versus Net Sales for the Nine Months Ended June 24, 2022 (1) Organic net sales growth (decline) is a non-GAAP financial measure. See description of non-GAAP financial measures. (2) Represents the change in net sales resulting from changes in foreign currency exchange rates. (3) Industry end market information is presented consistently with our internal management reporting and may be periodically revised as management deems necessary. ($ in millions) Net Sales O rganic Net Sales Acquisitions/

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended June 30, 2023 19 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 % Other expense, net $ (4) $ — $ — $ (4) 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 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 June 24, 2022 20 Operating income: Transportation Solutions $ 383 $ 5 $ 9 $ — $ 397 Industrial Solutions 165 6 15 — 186 Communications Solutions 171 1 6 — 178 Total $ 719 $ 12 $ 30 $ — $ 761 Operating margin 17.5 % 18.6 % Other income, net $ 4 $ — $ — $ — $ 4 Income tax expense $ (116) $ (3) $ (6) $ (21) $ (146) Effective tax rate 16.4 % 19.5 % Income from continuing operations $ 592 $ 9 $ 24 $ (21) $ 604 Diluted earnings per share from continuing operations $ 1.83 $ 0.03 $ 0.07 $ (0.06) $ 1.86 U.S. GAAP Acquisition-Charges (1) Adjustments Adjusted (Non-GAAP) (4) Related Tax Items (3) Restructuring Charges, Net (1)(2) and O ther (2) Includes $26 million recorded in net restructuring and other charges and $4 million recorded in cost of sales. (4) See description of non-GAAP financial measures. (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. ($ in millions, except per share data) (3) Includes a $21 million income tax benefit related to the tax impacts of an intercompany transaction.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Nine Months Ended June 30, 2023 21 Operating income: Transportation Solutions $ 1,040 $ 2 $ 179 $ 1,221 Industrial Solutions 440 21 68 529 Communications Solutions 189 3 36 228 Total $ 1,669 $ 26 $ 283 $ 1,978 Operating margin 13.9 % 16.5 % Other expense, net $ (13) $ — $ — $ (13) Income tax expense $ (283) $ (5) $ (82) $ (370) Effective tax rate 17.3 % 19.0 % Income from continuing operations $ 1,351 $ 21 $ 201 $ 1,573 Diluted earnings per share from continuing operations $ 4.25 $ 0.07 $ 0.63 $ 4.95 Acquisition- Restructuring Adjustments ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (2) See description of non-GAAP financial measures. Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (2)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Nine Months Ended June 24, 2022 22 Operating income: Transportation Solutions $ 1,187 $ 12 $ 12 $ — $ 1,211 Industrial Solutions 430 24 47 — 501 Communications Solutions 479 2 16 — 497 Total $ 2,096 $ 38 $ 75 $ — $ 2,209 Operating margin 17.6 % 18.5 % Other income, net $ 24 $ — $ — $ (11) $ 13 Income tax expense $ (362) $ (8) $ (18) $ (18) $ (406) Effective tax rate 17.4 % 18.6 % Income from continuing operations $ 1,719 $ 30 $ 57 $ (29) $ 1,777 Diluted earnings per share from continuing operations $ 5.26 $ 0.09 $ 0.17 $ (0.09) $ 5.43 Acquisition- Restructuring Adjustments Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1)(2) Tax Items (3) (Non-GAAP) (4) (4) See description of non-GAAP financial measures. ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (2) Includes $59 million recorded in net restructuring and other charges and $16 million recorded in cost of sales. (3) Includes a $57 million income tax benefit related to the tax impacts of an intercompany transaction, $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower tax rate enacted in the canton of Schaffhausen, and $12 million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income pursuant to the indemnification terms of the purchase agreement.

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended September 30, 2022 23 Operating income: Transportation Solutions $ 347 $ 4 $ 56 $ — $ 407 Industrial Solutions 177 8 19 — 204 Communications Solutions 136 3 7 — 146 Total $ 660 $ 15 $ 82 $ — $ 757 Operating margin 15.1 % 17.4 % Other income, net $ 4 $ — $ — $ — $ 4 Income tax (expense) benefit $ 56 $ (3) $ (16) $ (182) $ (145) Effective tax rate (8.6) % 19.4 % Income from continuing operations $ 708 $ 12 $ 66 $ (182) $ 604 Diluted earnings per share from continuing operations $ 2.21 $ 0.04 $ 0.21 $ (0.57) $ 1.88 Adjustments (3) See description of non-GAAP financial measures. Acquisition- Restructuring ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (2) Includes a $67 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance associated primarily with improved current and expected future operating profit and taxable income. Related and O ther Adjusted U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3)

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Year Ended September 30, 2022 24 Operating income: Transportation Solutions $ 1,534 $ 16 $ 68 $ — $ 1,618 Industrial Solutions 607 32 66 — 705 Communications Solutions 615 5 23 — 643 Total $ 2,756 $ 53 $ 157 $ — $ 2,966 Operating margin 16.9 % 18.2 % Other income, net $ 28 $ — $ — $ (11) $ 17 Income tax expense $ (306) $ (11) $ (34) $ (200) $ (551) Effective tax rate 11.2 % 18.8 % Income from continuing operations $ 2,427 $ 42 $ 123 $ (211) $ 2,381 Diluted earnings per share from continuing operations $ 7.47 $ 0.13 $ 0.38 $ (0.65) $ 7.33 ($ in millions, except per share data) (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (3) Includes a $124 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance associated primarily with improved current and expected future operating profit and taxable income. Also includes $27 million of income tax expense related to the write-down of certain deferred tax assets to the lower corporate tax rate enacted in the canton of Schaffhausen and $12 million of income tax expense related to an income tax audit of an acquired entity, as well as the related impact of $11 million to other income pursuant to the terms of the purchase agreement. (2) Includes $141 million recorded in net restructuring and other charges and $16 million recorded in cost of sales. (4) See description of non-GAAP financial measures. U.S. GAAP Charges (1) Charges, Net (1)(2) Tax Items (3) (Non-GAAP) (4) Related and O ther Adjusted Acquisition- Restructuring Adjustments

Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures for the Quarter Ended March 31, 2023 25 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 % Other expense, net $ (4) $ — $ — $ (4) 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 Acquisition- Restructuring Adjustments U.S. GAAP Charges (1) Charges, Net (1) (Non-GAAP) (2) Related and O ther Adjusted ($ 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.

Reconciliation of Free Cash Flow 26 Net cash provided by operating activities $ 779 $ 579 $ 1,994 $ 1,524 Net cash used in investing activities (169) (185) (573) (568) Net cash used in financing activities (380) (318) (1,386) (1,330) Effect of currency translation on cash (4) (5) 8 (9) Net increase (decrease) in cash, cash equivalents, and restricted cash $ 226 $ 71 $ 43 $ (383) Net cash provided by operating activities $ 779 $ 579 $ 1,994 $ 1,524 Excluding: Cash (collected) paid pursuant to collateral requirements related to cross-currency swap contracts — 14 — (28) Capital expenditures, net (165) (170) (535) (458) Free cash flow (1) $ 614 $ 423 $ 1,459 $ 1,038 (1) Free cash flow is a non-GAAP financial measure. See description of non-GAAP financial measures. 2023 2022 2023 2022 (in millions) For the Q uarters Ended June 30, June 24, June 30, June 24, For the Nine Months Ended

Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin 27 Net income $ 528 $ 433 $ 594 Income from discontinued operations — (8) (2) Income tax expense 96 100 116 Other (income) expense, net 4 4 (4) Interest expense 20 20 18 Interest income (18) (12) (3) Operating income $ 630 $ 537 $ 719 Acquisition-related charges 9 8 12 Restructuring and other charges, net 53 119 30 Adjusted operating income (1) 692 664 761 Depreciation and amortization 200 207 205 Adjusted EBITDA (1) $ 892 $ 871 $ 966 Net sales $ 3,998 $ 4,160 $ 4,097 Net income as a percentage of net sales 13.2 % 10.4 % 14.5 % Adjusted EBITDA margin (1) 22.3 % 20.9 % 23.6 % Operating income $ 425 $ 150 $ 55 $ 630 $ 383 $ 165 $ 171 $ 719 Acquisition-related charges — 8 1 9 5 6 1 12 Restructuring and other charges, net 27 22 4 53 9 15 6 30 Adjusted operating income (1) 452 180 60 692 397 186 178 761 Depreciation and amortization 120 56 24 200 137 47 21 205 Adjusted EBITDA (1) $ 572 $ 236 $ 84 $ 892 $ 534 $ 233 $ 199 $ 966 Net sales $ 2,433 $ 1,141 $ 424 $ 3,998 $ 2,300 $ 1,126 $ 671 $ 4,097 Operating margin 17.5 % 13.1 % 13.0 % 15.8 % 16.7 % 14.7 % 25.5 % 17.5 % Adjusted operating margin (1) 18.6 % 15.8 % 14.2 % 17.3 % 17.3 % 16.5 % 26.5 % 18.6 % Adjusted EBITDA margin (1) 23.5 % 20.7 % 19.8 % 22.3 % 23.2 % 20.7 % 29.7 % 23.6 % For the Q uarters Ended June 30, 2023 June 24, 2022 June 30, 2023 June 24, 2022 For the Q uarters Ended ($ in millions) March 31, 2023 Transportation Industrial Communications Solutions Communications Total Transportation Solutions Industrial Solutions (1) See description of non-GAAP financial measures. Total ($ in millions) Solutions Solutions Solutions

Impact of Additional Week on Net Sales - QTD 28 Net Sales $ 4,359 $ (306) $ 4,053 For the Q uarter Ended September 30, 2022 U.S. GAAP Adjustment 14 Weeks Impact of 13 Weeks (2) See description of non-GAAP financial measures. (1) Excludes the impact of an additional week in the fourth quarter of fiscal 2022. The impact of the additional week was estimated using average sales for the fourth quarter of the fiscal year. (in millions) 14th Week (Non-GAAP) (1)(2)

Impact of Additional Week on EPS - QTD 29 Adjustment Acquisition- Restructuring 14 Weeks 13 Weeks Related and O ther Adjusted Impact of Adjusted U.S. GAAP Charges (1) Charges, Net (1) Tax Items (2) (Non-GAAP) (3) 14th Week (Non-GAAP) (3)(4) Diluted earnings per share from continuing operations $ 2.21 $ 0.04 $ 0.21 $ (0.57) $ 1.88 $ (0.13) $ 1.75 (2) Includes a $67 million income tax benefit related to the tax impacts of certain intercompany transactions, a $64 million income tax benefit related primarily to a lapse of a statute of limitation, and a $51 million income tax benefit related to the release of a valuation allowance associated primarily with improved current and expected future operating profit and taxable income. (3) See description of non-GAAP financial measures. (4) Excludes the impact of an additional week in the fourth quarter of fiscal 2022. The impact of the additional week was estimated using average adjusted earnings per share for the fourth quarter of the fiscal year. Adjustments (1) The tax effect of each non-GAAP adjustment is calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction.

Reconciliation of Forward-Looking Non-GAAP Financial Measures to Forward-Looking GAAP Financial Measures 30 Diluted earnings per share from continuing operations $ 1.63 Restructuring and other charges, net 0.10 Acquisition-related charges 0.02 Adjusted diluted earnings per share from continuing operations (2) $ 1.75 Net sales growth (decline) (8.2) % Impact of additional week in fiscal 2022 (3) 6.9 Net sales growth (decline) excluding the impact of the additional week in fiscal 2022 (2) (1.3) Translation (1.7) (Acquisitions) divestitures, net 0.2 Organic net sales growth (decline) excluding the impact of the additional week in fiscal 2022 (2) (2.8) % Effective tax rate 18.7 % 17.7 % Effective tax rate adjustments (4) 0.3 1.4 Adjusted effective tax rate (2) 19.0 % 19.1 % 2023 (1) September 29, O utlook for Fiscal 2023 (1) (4) Includes adjustments for special tax items and the tax effect of acquisition-related charges and net restructuring and other charges, calculated based on the jurisdictions in which the expense (income) is incurred and the tax laws in effect for each such jurisdiction. (1) Outlook is as of July 26, 2023. (2) See description of non-GAAP financial measures. (3) The impact of an additional week in the fourth quarter of fiscal 2022. The impact of the additional week was estimated using average sales for the fourth quarter of the fiscal year. Q uarter Ending O utlook for

XML

Document and Entity Information	Jul. 26, 2023
Cover Abstract
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jul. 26, 2023
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