Flex (FLEX) Proxy filing summary

Executive summary

• Plans to spin off the cloud and power infrastructure segment into a separate, publicly traded company, with the current CEO set to lead the new entity and remain chairman of the original company.

• The spin-off aims to unlock shareholder value, enable focused capital allocation, and address distinct growth opportunities in both businesses.

• The new entity, temporarily called Spinco, will focus on high-growth AI, data center, and utility power infrastructure, while the remaining business will emphasize healthcare, industrial, and contract manufacturing.

• The spin-off is expected to be completed in early next calendar year, with leadership teams and the new company name to be announced in September.

• Both companies are positioned for significant growth, with Spinco targeting rapid expansion in the evolving power and data center markets.

Voting matters and shareholder proposals

• Shareholder approval is required for the spin-off, with a proxy statement and related materials to be filed and disseminated for voting.

Board of directors and corporate governance

• The current CEO will transition to lead Spinco and remain as chairman of the original company, with new leadership for each entity to be announced.

• Information on directors, executive officers, and their share ownership is available in the most recent proxy statement and will be updated in future filings.