Flex (FLEX) Proxy filing summary

Executive summary

• Plans to spin off the Cloud and Power Infrastructure segment into a new public company, Axiom, with the spin-off targeted for early 2027.

• Axiom will focus on AI infrastructure, including power, compute, and cooling for data centers and utilities, addressing significant infrastructure gaps.

• Projected 70% growth for Axiom this year and 80% next year, with bookings and capacity constrained for several years ahead.

• Recently announced a $4.4 billion acquisition in the power sector, to be funded through debt and equity.

• Forward-looking statements highlight anticipated benefits such as strategic focus, financial flexibility, and value creation for shareholders.

Voting matters and shareholder proposals

• Shareholder approval is required for the spin-off proposal, with relevant proxy materials to be filed and disseminated.

• Flex and certain directors and officers will solicit proxies in connection with the spin-off.

Board of directors and corporate governance

• Information on directors, executive officers, and their share ownership is available in the 2026 annual general meeting proxy statement.

• Leadership changes include the current CEO transitioning to lead Axiom post-spin-off.