Avnet-Overview

1 September 6, 2016
Avnet, Inc. Corporate Overview
As of September 6, 2016

2 September 6, 2016
From components to cloud
and design to disposal,
Avnet brings products,
services and solutions to
customers that build, sell
and use technology globally.

3 September 6, 2016
Who We Are and What We Do
Who
We Are
What
We Do
Financial
Scope
We are one of the world’s largest
global distributors of electronic
components, computer products
and embedded technology
serving customers in
more than 125 countries.
We connect the world's leading
technology companies with more
than 100,000 customers by
providing cost-effective, value-
added services and solutions.
For the fiscal year ending
July 2, 2016 we generated
revenue of $26.2 billion.

4 September 6, 2016
Company Snapshot
Americas
$10.42B
(40%)
Asia
$7.99B
(30%)
EMEA
$7.81B
(30%)
• Named to the FORTUNE Most
Admired list for technology
distribution, 2007-2016
• Top Business Technology
Innovator on the 2016
InformationWeek Elite 100
• Number 102 on the 2016
FORTUNE 500 (U.S.)
• Number 380 on the 2016
FORTUNE Global 500
• Named a World's Most Ethical
Company by Ethisphere
Institute 2014, 2015 and 2016
An Industry Leader
FY16 Annual Revenue
$26.2B
Avnet, Inc.
$9.7B
Technology
Solutions
$16.6B
Electronics
Marketing
• Headquartered in
Phoenix, AZ
• Founded in 1921
• AVT listed on
the NYSE in 1960
• 800+ suppliers
• 100,000+ customers
• 99 acquisitions
announced or closed
since FY91
• 17,700 employees
worldwide
Fast Facts
37%
63%

5 September 6, 2016
Organizational Structure
Avnet, Inc. Board of Directors
Avnet Executive Leadership Team
Bill Amelio
Chief Executive Officer
MaryAnn Miller
Chief Human Resources
Officer and Corporate
Marketing &
Communications
Kevin Moriarty
Chief Financial Officer
Gerry Fay
Global President,
Electronics Marketing
Patrick Zammit
Global President,
Technology Solutions
Mike Buseman
Chief Global Logistics
and Operations Officer
Steve Phillips
Chief Information Officer
Erin Lewin
General Counsel

6 September 6, 2016
Operating Groups
Electronics Marketing
Serving electronics original equipment manufacturers
and electronic manufacturing services providers
globally, distributing electronic components and
embedded systems from leading manufacturers and
providing associated design-chain and supply-chain
services.
Technology Solutions
Collaborating with customers and suppliers to
create and deliver services, software and hardware
solutions that address the business needs of end-
user customers locally and around the world.

7 September 6, 2016
Purpose and Vision
Our
Purpose
We help technology make the
world a better place to live, work
and play.
Our
Vision
We aspire to be the premier partner
of choice for our customers, suppliers,
employees and shareholders by
accelerating their success through
our global technology marketing and
distribution resources, services
and culture.

8 September 6, 2016
Top Priorities
Strategy Execution
Talent
Management

9 September 6, 2016
Avnet’s financial strength, solid
balance sheet and market
leadership give its customers and
suppliers complete confidence in
its stability and in its ability to
invest in long-term, shared
growth opportunities.

10 September 6, 2016
153
Basis Points
Y/Y
FY16 Results
$26.2B
6.1%
2
Y/Y
$895.6M
7.9%
Y/Y
$4.22
6.0%
Y/Y
20.1% $224M
Revenue
Adjusted
Operating
Income1
Adjusted
EPS1
ROWC3 Cash Flow from
Operations
1 Excluding restructuring, integration and other items.
2 Revenue decreased 6.1% Y/Y on a reported basis and decreased 3.2% Y/Y in constant currency
(excluding the translation impact of changes in foreign currency exchange rates).
3 ROWC = Return on Working Capital is defined on slide 28.

Revenue and Adjusted EPS1
1 A reconciliation of non-GAAP financial measures to GAAP financial measures is included in the Non-GAAP
Financial Reconciliation and Information section of this presentation
$14.3 $15.7 $18.0 $16.2 $19.2 $26.5 $25.7 $25.5 $27.5 $27.9 $26.2
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
$0
$5
$10
$15
$20
$25
$30
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
($inBillions)

Cash Flow from Operations
$462
$(19)
$725
$454
$1,118
$(30)
$278
$529
$696
$237
$584
$224
$(800)
$(600)
$(400)
$(200)
$-
$200
$400
$600
$800
$1,000
$1,200
$1,400
FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016
Cash flow from working capital and other Cash from operations
($ in Millions)

The Power and Impact of Engagement
Technology suppliers and
customers benefit from Avnet’s
global scale and scope to
effectively reach a wide range
of markets across the globe.

Regional Snapshot
Americas
FY16 sales:
$10.42B
Employees:
6,300+
Locations/Offices:
94
Started in region:
1921
Acquisitions announced or
closed since FY91:
30
EMEA
FY16 sales:
$7.81B
Employees:
6,400+
Locations/Offices:
195
Started in region:
1991
closed since FY91:
46
Asia Pacific
FY16 sales:
$7.99B
Employees:
5,000
Locations/Offices:
98
Started in region:
1995
closed since FY91:
23

Vital Link in Global Technology Supply Chain
Avnet effectively manages the complexity of the technology supply chain in a
cost-efficient manner, delivering value to suppliers and customers.
IT Original
Equipment
Manufacturers
Non-IT Original
Equipment
Manufacturers
End Users
EMS / ODM
Resellers, ISVs
and
System Builders
Semiconductors
Interconnect,
Passive and
Electro-mechanical
Devices
Embedded
Systems
Software
Software and
Services Vendors
Forward and Reverse Logistics – Integrated Supply Chain Expertise

Services Capabilities
Avnet offers a breadth and
depth of services capabilities:
• Supply-chain and design-chain
• Logistics solutions
• Product assembly
• Device programming
• Computer system configuration
and integration
• Asset disposition
• Financing
• Marketing services
• Technical seminars
• Core distribution services

Global Logistics
Global Footprint:
2.5 Million Square
Feet
Global Facility Network
• Distribution Centers
• System Integration Centers
• IC Programming Centers
Global Services
• Trade Compliance Regulation
• Transportation Management
• Regulatory Quality Compliance
FY16 Performance
99 Billion
Units Shipped
2.6 Million
Part Numbers Stocked
6.7 Million
Orders Processed
407,000
Systems Integrated
254 Million
Devices Programmed

Global IT
Scale and Scope
• 1,272 physical servers
• 4,041 logical servers
• 3,078 terabytes storage
• 66% of all supplier orders (by volume) are
placed electronically
• 57% of all customer orders received (by
volume) are received electronically
• 28,380 unique average daily visitors to Avnet
websites
Award Winning
Excellence in IT
• Avnet named to the InformationWeek Elite
100 for the third consecutive year
• Avnet receives CIO Asia Award
• Sean Valcamp named Avnet’s first Chief
Information Security Officer
• Vice President, Beth McMullen recognized
with Outstanding Women in Business
award from the Phoenix Business Journal

Avnet’s people initiatives help drive
profitable growth by inspiring and
engaging employees, which ultimately
enhances the customer experience and
increases shareholder value.

Global Headcount
EMEA
6,400
Asia
5,000 Americas
6,300
Total
17,700

The Power and Impact of Engagement
Employee Engagement Customer Engagement
Thoughtful organizational development strategies lead to a more productive and engaged
workforce, a more engaged customer base and higher shareholder returns.
People
Practices
Employee
Engagement and
Organizational
Climate
External
Service
Value
Customer
Satisfaction
Customer
Loyalty
Profitability
Revenue
Employee
Retention
Employee
Productivity
“Putting the Service-Profit Chain to Work,” Heskett, et al. - Harvard Business Review
Since 2004, Avnet has maintained a focus on employee
engagement, and it shows in our results.

Avnet delivers value to its customers and
suppliers through technical knowledge
and industry-centric expertise so they
can make the most of opportunities,
solve business problems and accelerate
their success.

Business Highlights
• Avnet acquired Orchestra Service GmbH,
German IT distributor of EMC storage
• Completed acquisition of ExitCertified, a
leading provider of certified IT training in
North America
• Avnet released third annual Giving Report
• Chuck Delph promoted to president, Avnet
Electronics Marketing, Americas
• Bob Bowen joined Avnet as vice president,
global trade compliance
• Eric Williams joined Avnet as vice president,
Internet of Things

Non-GAAP Financial Information and Reconciliation
A reconciliation of non-GAAP financial information is attached as exhibit 99.2 (“Exhibit 99.2”) to the Form 8-K filed with the Securities Exchange Commission on August 10, 2016.
In addition to disclosing financial results that are determined in accordance with generally accepted accounting principles in the United States (“GAAP”), the Company also discloses
in this document certain non-GAAP financial information including adjusted operating income, adjusted operating expenses, adjusted income tax expense, adjusted net income and
adjusted diluted earnings per share, as well as sales adjusted for the impact of acquisitions and other items (as defined in the Organic Sales section of this document). There are
also references to the impact of foreign currency in the discussion of the Company’s results of operations. When the U.S. Dollar strengthens and the stronger exchange rates of the
current year are used to translate the results of operations of Avnet’s subsidiaries denominated in foreign currencies, the resulting impact is a decrease in U.S. Dollars of reported
results. Conversely, when the U.S. Dollar weakens and the weaker exchange rates of the current year are used to translate the results of operations of Avnet’s subsidiaries
denominated in foreign currencies, the resulting impact is an increase in U.S. Dollars of reported results. In the discussion of the Company’s results of operations, results excluding
this impact are referred to as “excluding the impact of changes in foreign currency exchange rates” or “constant currency.” Management believes organic sales and sales in constant
currency are useful measures for evaluating current period performance as compared with prior periods and for understanding underlying trends. In order to determine the translation
impact of changes in foreign currency exchange rates on sales, income or expense items for subsidiaries reporting in currencies other than the U.S. Dollar, the Company adjusts the
average exchange rates used in current periods to be consistent with the average exchange rates in effect during the comparative period.
Management believes that operating income and operating expenses adjusted for (i) restructuring, integration and other expenses and (ii) amortization of acquired intangible assets
and other, are useful measures to help investors better assess and understand the Company’s operating performance, especially when comparing results with previous periods or
forecasting performance for future periods, primarily because management views the excluded items to be outside of Avnet’s normal operating results or non-cash in nature.
Management analyzes operating income and operating expenses without the impact of these items as an indicator of ongoing margin performance and underlying trends in the
business. Management also uses these non-GAAP measures to establish operational goals and, in many cases, for measuring performance for compensation purposes.
Additional non-GAAP metrics management uses are adjusted operating income margin, which is defined as adjusted operating income (as defined above) divided by sales and
adjusted operating expense to gross profit ratio, which is defined as adjusted operating expenses (as defined above) divided by gross profit.
Management also believes income tax expense, net income and diluted EPS adjusted for (i) the impact of the items described above, (ii) certain items impacting other expense and
(iii) certain items impacting income tax expense is useful to investors because it provides a measure of the Company’s net profitability on a more comparable basis to historical
periods and provides a more meaningful basis for forecasting future performance. Additionally, because of management’s focus on generating shareholder value, of which net
profitability is a primary driver, management believes net income and diluted EPS excluding the impact of these items provides an important measure of the Company’s net
profitability for the investing public.
Other metrics management monitors in its assessment of business performance include return on working capital (ROWC), return on capital employed (ROCE) and working capital
velocity (WC velocity).
ROWC is defined as annualized adjusted operating income (as defined above) divided by the sum of the monthly average balances of receivables and inventories less accounts
payable.
ROCE is defined as annualized, tax effected adjusted operating income (as defined above) divided by the monthly average balances of interest-bearing debt and equity (including
the impact of adjustments to operating income discussed above) less cash and cash equivalents.
WC velocity is defined as annualized sales divided by the sum of the monthly average balances of receivables and inventories less accounts payable.
Any analysis of results and outlook on a non-GAAP basis should be used as a complement to, and in conjunction with, results presented in accordance with GAAP.

Fiscal Year 2016
Operating
Income
Income Before
Income Taxes Net Income
Diluted
EPS
$ in thousands, except per share data
GAAP results $ 787,669 $ 163,978 $ 506,531 $ 3.80
Restructuring, integration and other
expenses 79,318 26,975 52,343 0.39
Foreign currency loss
Amortization of intangible assets and other 28,614 8,856 19,758 0.15
Income tax adjustments 16,527 (16,527 ) (0.12)
Total adjustments 107,932 52,358 55,575 0.42
Adjusted results $ 895,601 $ 216,336 $ 562,106 $ 4.22

ROWC, ROCE and WC Velocity
The following table (in thousands) presents the calculation for ROWC:
(1) See reconciliation to GAAP amounts in the preceding tables in this Non-GAAP Financial Information and Reconciliation section.
(2) Adjusted effective tax rate for each quarterly period in a fiscal year is based upon the currently anticipated annual effective
tax rate, excluding the tax effect of the items in the above reconciliation to GAAP amounts in this Non-GAAP
Financial Information and Reconciliation section.
Q4 FY16 Q4 FY15
Sales $ 6,226,812 $ 6,796,331
Sales, annualized (a) $ 24,907,248 $ 27,185,324
Adjusted operating income (1) $ 194,709 $ 243,814
Adjusted annualized operating income (b) $ 778,836 $ 975,256
Adjusted effective tax rate (2) 27.8 % 27.7 %
Adjusted annualized operating income, after tax (c) $ 562,397 $ 705,305
Average monthly working capital
Accounts receivable $ 4,768,442 $ 4,979,668
Inventories $ 2,935,788 $ 2,593,545
Accounts payable $ (3,154,351) $ (3,234,283)
Average working capital (d) $ 4,549,879 $ 4,338,930
Average monthly total capital (e) $ 6,177,923 $ 5,898,475
ROWC = (b) / (d) 17.1 % 22.5 %
WC Velocity = (a) / (d) 5.5 6.3
ROCE = (c) / (e) 9.1 % 12.0 %

ROWC
The following table (in thousands) presents the calculation for ROWC:
(1) See reconciliation to GAAP amounts in the preceding tables in this Non-GAAP Financial Information section.
Fiscal Year 2016
Adjusted operating income (1)
(a) $ 895,601
Average monthly working capital
Accounts receivable $ 4,815,529
Inventories $ 2,814,071
Accounts payable $ (3,166,749)
Average working capital (b) $ 4,462,851
ROWC = (a) / (b) 20.1 %

Avnet-Overview

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