Flex : 2023 Sustainability Report

2023 Sustainability report

Table of contents

About this report and		Our strategy	14	Our world	25	Our people	39	Our approach	52	Indices	65
external alignment	4	Our ESG strategy	15	Environmental stewardship	27	Employee health		Corporate governance		Index A. Memberships
Letter from our CEO	5	Our commitments	16	Waste and materials		and safety	41	and board of directors	54	and associations	66
About Flex	6
Recognition of our		management	29	Diversity, equity,		Integrity, ethics,		Index B. Alignment
					and inclusion	43	and compliance	56	to the UN SDGs	67
Company profile	7	performance	17	Water use and
Our capabilities	9	Our 2030 sustainability goals	18	management	31	Labor practices	46	Data protection		Index C. Alignment
				and cybersecurity	59	to the UNGC	68
				Energy management		Employee development	47
Industries served	10	ESG management systems	20
and emissions reduction	32			Customer partnerships	60	Index D. GRI content index	69
				Wellness for our employees	49
		Stakeholder engagement	22
		Our circular				Supply chain integrity	61	Index E. Alignment to SASB	79
					Fair wages and
				economy solutions	34
				competitive benefits	50			Index F. Alignment to TCFD	81
				Community investment	36	Human rights	51			Index G. Our 2022 KPIs	82
										Index H. Flex 2030 goals	93
										Index I: Third-party
										verification	94

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Forward-looking statements

ABOUT FLEX	OUR STRATEGY	OUR WORLD	OUR PEOPLE	OUR APPROACH	INDICES

This report contains forward-looking statements within the meaning of U.S. securities laws. All statements other than statements of historical or current facts, including statements regarding our future business expectations and our environmental and other sustainability plans and goals and related timeframes, made in this document are forward-looking. The words "will," "may," "designed to," "believe," "should," "would," "could," "anticipate," "plan," "expect," "intend," "estimate," "goals," "opportunity," "future," "to be," "achieve," "grow," "committed," "seeks," "targets," "continues," "likely," "possible," "might," "potentially," "will," "on track," "working to," "encourage," "continue," "strive," "endeavor," "looking forward," "efforts," "aim," and variations of such words and similar expressions identify forward-looking statements, which speak only as of the date of this report. Because these forward-looking statements are subject to risks and uncertainties, actual results could differ materially from the expectations expressed in the forward-looking statements. Important factors that could cause actual results to differ materially from the expectations reflected in the forward-looking statements include those described in Item 1A, "Risk Factors" and Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form10-K for the fiscal year ended March 31, 2023, and in our Quarterly Reports on 10-Q and Current Reports on Form 8-K that we file with the U.S. Securities and Exchange Commission. In addition, new risks emerge from time to time, and it is not possible for management to predict all such risk factors or to assess the impact of such risk factors on our business. Given these risks and uncertainties, the reader should not place undue reliance on these forward-looking statements. We undertake no obligation to update or revise these forward-looking statements to reflect subsequent events or circumstances.

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About this report and external alignment

Our 2023 annual sustainability report is a summary of our most important sustainability activities, performance, and results from the 2022 calendar year, from January 1, 2022, through December 31, 2022, unless otherwise noted. Flex Ltd. is a public company incorporated under the laws of the Republic of Singapore (Co. Reg. No. 199002645H), with its U.S. corporate headquarters in Austin, Texas, U.S. The company is publicly traded

on NASDAQ under the symbol FLEX. We have significant operations in Brazil, China, Hungary, India, Malaysia, Mexico, Poland, Romania, the U.S., and Ukraine, which we define as operations with the largest employee presence. A full list of our operating locations is located in our Annual Report. Our financial statements reported in our Annual Report, and disclosed within this report, include the accounts of Flex and its majority-owned subsidiaries but do not include statements from the Flex Foundation, a private, non-profit organization that supports philanthropic initiatives, unless noted. Our annual financial disclosures report on our fiscal years while our sustainability disclosures report

on calendar years due to our data collection processes1. Flex Ltd. activities and disclosures support and align with external frameworks, including the Global Reporting Initiative (GRI), United Nations (UN) Sustainable Development Goals (SDGs), the Sustainable Accounting Standards Board (SASB), the UN Global Compact (UNGC) and the Task Force on Climate-related Financial Disclosures (TCFD). Flex has reported in accordance with the GRI Standards for the period 1/1/2022

• 12/31/2022. Our prior sustainability report was published in July 2022, which can be accessed on theReports and Disclosures page at flex.com. We appreciate your interest and welcome feedback on the information presented herein. If you have any comments or questions, please contact us at [e-mail].

1. Flex acquired Anord Mardix, a global leader in critical power solutions, in December 2021. Our calendar year 2022 environmental progress and metrics are inclusive of Anord Mardix operations.

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ABOUT FLEX

Letter from our CEO

OUR STRATEGY

OUR WORLD

OUR PEOPLE

OUR APPROACH

INDICES

At Flex, we remain committed to improving our performance towards our sustainability objectives, in line with our vision to become the most trusted global technology, supply chain, and manufacturing solutions partner to improve the world.

Key highlights from this year's report demonstrate our dedication to operationalizing our 2030 strategy and commitments, which align to the UN Global Compact-including its 10 principles-and the United Nations Sustainable Development Goals. These highlights include:

Looking ahead

At Flex, we remain focused on our commitment to reach net zero emissions by 2040 and do our part to advance climate action, even as we evaluate the impact of energy intensive end markets and the increased power consumption requirements across our footprint.

One major growth area for Flex moving forward is in our circular economy solutions. As our customers focus on their climate commitments and become increasingly interested in how their products are repaired, refurbished, and recycled, we are excited to help them develop and implement tailored circular solutions to prolong a product's life and shift from a take, make, and waste approach.

In this coming year and beyond, we will continue our disciplined approach to building and sustaining momentum toward our sustainability targets while keeping a pulse on trends transforming the sustainability landscape, including new reporting standards, and seek ways to embed transparency and accountability at all levels of the organization. For example, we linked Environmental, Social, and Corporate Governance (ESG) goals to executive compensation starting in our fiscal year 2023, demonstrating our leadership team's commitment to sustainability.

Our world

• 27% decrease in absolute
  Scope 1 and 2 greenhouse gas emissions (GHG) from our 2019 baseline2
• 100% of major sites3 partnered with a local non- governmental organization
• Released our firstTask Force onClimate-relatedFinancial Disclosures Report in 2022

Our people

• 17% reduction in safety incident rate year-over-year
• 100% of our employees had access to emotional / mental health programs
• Achieved an average of 32.5 hours of training per employee

Our approach

• 35% of our preferred suppliers had emissions reduction targets
• 64% of specified customers4 had science-based targets
• Recognized as one of the World's Most Ethical
  Companies by Ethisphere in 2023

As always, I extend a heartfelt thank you to our Flex employees, suppliers, and partners for your ongoing dedication and appreciate your interest in our sustainability journey.

Making progress to help improve the world requires deep collaboration and shared responsibility, and we could not do it without your continued support.

Regards,

Revathi

1. The target boundary includes biogenic emissions and removals from bioenergy feedstocks. Absolute Scope 1 and market-based emissions.
2. Sites with 1,000 employees or more.
3. Flex committed that 70% of customers as measured by emissions covering purchased goods and services, capital

goods, and use of sold products will have science-based targets by 2025.	| 5