TE Connectivity plc (TEL) Economic Moat Analysis—

Preuves

These relationships allow us to better anticipate and respond to customer needs when designing new products and new technical solutions.

Business—Customers; product development relationships · Dépôt 10/11/2025

Our customers include many of the leaders in their respective industries, and our relationships with them typically date back many years.

Business—Customers; relationship longevity · Dépôt 10/11/2025

Overall, our organic net sales growth was due primarily to increased content per vehicle.

MD&A—Transportation Solutions; nine-month automotive content growth · Dépôt 24/07/2026

The Transportation Solutions segment’s major competitors include Yazaki, Aptiv, Sumitomo, Sensata, Honeywell, Molex, and Amphenol.

Business—Transportation Solutions; named competitors · Dépôt 10/11/2025

Backlog is not necessarily indicative of future net sales as unfilled orders may be cancelled prior to shipment of goods.

Business—Seasonality and Backlog; cancellation rights · Dépôt 10/11/2025

currency translation of 3.4%. Net price erosion negatively affected organic net sales by $46 million in the first nine months of fiscal 2026.

MD&A—Transportation Solutions; nine-month price erosion · Dépôt 24/07/2026

These relationships typically extend over the life of the related vehicle.

Aptiv business disclosure; vehicle-life customer relationships, comparison only · Dépôt 06/02/2026

In addition, many of our OEM customers have the option to terminate for convenience on certain programs, which permits our customers to impose pressure on pricing during the life of the vehicle program, and issue purchase contracts for less than the duration of the vehicle program, which potentially reduces our profit margins and increases the risk of our losing future sales under those purchase contracts.

Aptiv customer terms; termination and pricing pressure, comparison only · Dépôt 06/02/2026

We also rely upon trade secrets, manufacturing know-how, continuing technological innovations, and licensing opportunities to maintain and improve our competitive position.

Business—Intellectual Property; know-how and innovation · Dépôt 10/11/2025

We believe that as electronic component technologies continue to proliferate, our broad product portfolio and engineering capability give us a potential competitive advantage when addressing the needs of our global customers.

Business—Customers; management's potential competitive advantage claim · Dépôt 10/11/2025

The following table provides an analysis of the change in our net sales by geographic region: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in Net Sales for the Quarter Ended June 26, 2026 ​ Change in Net Sales for the Nine Months Ended June 26, 2026 ​ ​ ​ versus Net Sales for the Quarter Ended June 27, 2025 ​ versus Net Sales for the Nine Months Ended June 27, 2025 ​ ​ ​ Net Sales ​ Organic Net Sales ​ ​ ​ ​ Net Sales ​ Organic Net Sales ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Growth ​ ​ ​ Growth ​ ​ ​ Translation ​ ​ ​ Growth ​ ​ ​ Growth ​ Translation ​ Acquisitions ​ ​ ​ ​ ​ ($ in millions) Asia–Pacific ​ $ 291 17.5 % $ 254 15.3 % $ 37 ​ $ 903 18.8 % $ 813 ​ 16.9 % $ 90 ​ $ — ​ EMEA ​ ​ 106 ​ 6.9 ​ ​ 79 ​ 5.2 ​ ​ 27 ​ ​ 515 12.3 ​ ​ 269 6.4 ​ ​ 246 ​ ​ — ​ Americas ​ 229 17.2 ​ 221 16.5 ​ 8 ​ 642 18.2 ​ 346 9.8 ​ 24 ​ 272 ​ Total ​ $ 626 13.8 % $ 554 12.2 % $ 72 ​ $ 2,060 16.5 % $ 1,428 ​ 11.4 % $ 360 ​ $ 272 ​ Cost of Sales and Gross Margin The following table presents cost of sales and gross margin information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the ​ ​ ​ ​ ​ For the ​ ​ ​ ​ ​ ​ ​ Quarters Ended ​ ​ ​ ​ ​ Nine Months Ended ​ ​ ​ ​ ​ ​ ​ June 26, ​ ​ June 27, ​ ​ ​ ​ June 26, ​ ​ June 27, ​ ​ ​ ​ ​ ​ ​ ​ 2026 ​ ​ ​ ​ ​ ​ 2025 ​ ​ ​ ​ ​ ​ Change ​ ​ ​ ​ 2026 ​ ​ ​ ​ ​ ​ 2025 ​ ​ ​ ​ ​ ​ Change ​ ​ ​ ​ ​ ($ in millions) ​ Cost of sales ​ $ 3,325 ​ ​ $ 2,934 ​ ​ $ 391 ​ $ 9,254 ​ ​ $ 8,094 ​ ​ $ 1,160 ​ As a percentage of net sales ​ 64.4 % ​ 64.7 % ​ ​ ​ 63.5 % ​ 64.7 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross margin ​ $ 1,835 ​ ​ $ 1,600 ​ ​ $ 235 ​ $ 5,319 ​ ​ $ 4,419 ​ ​ $ 900 ​ As a percentage of net sales ​ 35.6 % ​ 35.3 % ​ ​ ​ 36.5 % ​ 35.3 % ​ ​ ​ 24 Table of Contents Gross margin increased $235 million and $900 million in the third quarter and first nine months of fiscal 2026, respectively, as compared to the same periods of fiscal 2025 due primarily to higher volume and improved manufacturing productivity.

MD&A—Geographic Sales and Gross Margin; organic growth and productivity · Dépôt 24/07/2026

Excluding the items below, operating income increased in fiscal 2024 due primarily to improved manufacturing productivity.

MD&A—Transportation Solutions; fiscal 2024 productivity · Dépôt 10/11/2025

The Industrial Solutions segment competes primarily against Amphenol, Hubbell, Carlisle Companies, Integer Holdings, Molex, Omron, JST, and Korea Electric Terminal (KET).

Business—Industrial Solutions; named competitors · Dépôt 10/11/2025

While we consider our patents and trademarks to be valued assets, we do not believe that our competitive position or our operations are dependent upon or would be materially impacted by any single patent or group of related patents.

Business—Intellectual Property; absence of dependence on particular patents · Dépôt 10/11/2025

The industries in which we operate are highly competitive, and we compete with thousands of companies that range from large multinational corporations to local manufacturers.

Business—Competition; broad competitive landscape · Dépôt 10/11/2025

Although pricing actions initiated in recent years have positively impacted our net sales, we have historically experienced price erosion averaging from 1% to 2% each year.

Risk Factors—Pricing; positive actions and historical annual erosion · Dépôt 10/11/2025

To maintain our margins, we must continue to reduce our costs by similar amounts.

Risk Factors—Pricing; continuing cost reduction requirement · Dépôt 10/11/2025

The Company is also able to take advantage of the lower manufacturing costs in some regions, and has established low-cost manufacturing and assembly facilities around the world.

Amphenol strategy; global low-cost manufacturing, comparison only · Dépôt 11/02/2026

Net pricing actions positively affected organic net sales by $51 million in the first six months of fiscal 2026.

MD&A—Consolidated Net Sales; first-half fiscal 2026 pricing contribution · Dépôt 24/04/2026

Although products are generally sold at fixed prices, certain distributors and customers receive incentives or awards, such as sales rebates, return allowances, scrap allowances, and other rights, which are accounted for as variable consideration.

Revenue accounting; fixed prices and customer incentives · Dépôt 10/11/2025

Operating Income. The following table presents the Transportation Solutions segment’s operating income and operating margin information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the ​ ​ ​ ​ For the ​ ​ ​ ​ ​ ​ Quarters Ended ​ ​ ​ ​ Nine Months Ended ​ ​ ​ ​ ​ ​ June 26, ​ June 27, ​ ​ ​ ​ June 26, ​ June 27, ​ ​ ​ ​ ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ Change ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ Change ​ ​ ​ ​ ​ ($ in millions) ​ Operating income ​ $ 444 ​ $ 462 ​ $ (18) ​ $ 1,448 ​ $ 1,353 ​ $ 95 ​ Operating margin ​ 17.2 % 19.1 % ​ ​ 19.4 % 19.4 % ​ ​ Operating income in the Transportation Solutions segment decreased $18 million in the third quarter of fiscal 2026 and increased $95 million in the first nine months of fiscal 2026 as compared to the same periods of fiscal 2025.

MD&A—Transportation Solutions; GAAP operating results · Dépôt 24/07/2026

Excluding the items below, operating income increased in the first nine months of fiscal 2026 primarily as a result of improved manufacturing productivity, partially offset by price erosion.

MD&A—Transportation Solutions; productivity offset by erosion · Dépôt 24/07/2026

Excluding the items below, operating income decreased in fiscal 2025 primarily as a result of net price erosion.

MD&A—Transportation Solutions; fiscal 2025 underlying profit decline · Dépôt 10/11/2025

●Record orders in both segments totaling $5.7 billion, an increase of 27% year over year with double-digit order growth in all businesses.

Third-quarter fiscal 2026 results; orders across businesses · Dépôt 22/07/2026

Net cash provided by operating activities increased $662 million to $4,139 million in fiscal 2025 as compared to $3,477 million in fiscal 2024.

MD&A—Operating Cash Flows; fiscal 2025 cash generation · Dépôt 10/11/2025

The increase resulted primarily from higher pre-tax income and a reduction in income tax payments.

MD&A—Operating Cash Flows; income and tax-payment drivers · Dépôt 10/11/2025

Capital expenditures were $936 million and $680 million in fiscal 2025 and 2024, respectively.

MD&A—Investing Cash Flows; capital expenditure · Dépôt 10/11/2025

​ 638 ​ ​ 2,354 ​ ​ 1,179 Loss from discontinued operations, net of income taxes ​ — ​ ​ — ​ ​ (1) ​ ​ — Net income $ 748 ​ $ 638 ​ $ 2,353 ​ $ 1,179 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations $ 2.57 ​ $ 2.16 ​ $ 8.03 ​ $ 3.96 Loss from discontinued operations ​ — ​ ​ — ​ ​ — ​ ​ — Net income ​ 2.57 ​ ​ 2.16 ​ ​ 8.03 ​ ​ 3.96 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations $ 2.55 ​ $ 2.14 ​ $ 7.98 ​ $ 3.93 Loss from discontinued operations ​ — ​ ​ — ​ ​ — ​ ​ — Net income ​ 2.55 ​ ​ 2.14 ​ ​ 7.98 Depreciation and amortization ​ 256 ​ ​ 216 ​ ​ 758 ​ ​ 594 Deferred income taxes ​ 102 ​ ​ 71 ​ ​ 261 ​ ​ 772 Non-cash lease cost ​ 40 ​ ​ 37 ​ ​ 118 ​ ​ 106 Provision for losses on accounts receivable and inventories ​ 12 ​ ​ 19 ​ ​ 61 ​ ​ 62 Share-based compensation expense ​ 38 ​ ​ 36 ​ ​ 130 ​ ​ 105 Other ​ (26) ​ ​ 26 ​ ​ (51) ​ ​ 60 Changes in assets and liabilities, net of the effects of acquisitions and divestitures: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accounts receivable, net ​ (296) ​ ​ (220) ​ ​ (355) ​ ​ (391) Inventories ​ (34) ​ ​ (167) ​ ​ (365) ​ ​ (299) Prepaid expenses and other current assets ​ 52 ​ ​ (109) ​ ​ 38 ​ ​ 31 Accounts payable ​ 256 ​ ​ 152 ​ ​ 433 ​ ​ 298 Accrued and other current liabilities ​ 24 ​ ​ 222 ​ ​ (240) ​ ​ (76) Income taxes ​ (10) ​ ​ 117 ​ ​ (94) ​ ​ 172 Other ​ 23 ​ ​ 149 ​ ​ (51) ​ ​ 105 Net cash provided by operating activities ​ 1,185 ​ ​ 1,187 ​ ​ 2,997 ​ ​ 2,718 Cash flows from investing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital expenditures ​ (304) ​ ​ (230) ​ ​ (832) ​ ​ (665) Proceeds from sale of property, plant, and equipment ​ 2 ​ ​ 5 ​ ​ 6 ​ ​ 7 Acquisition of businesses, net of cash acquired ​ — ​ ​ (2,307) ​ ​ (200) ​ ​ (2,628) Other ​ (6) ​ ​ (5) ​ ​ (6) ​ ​ (12) Net cash used in investing activities ​ (308) ​ ​ (2,537) ​ ​ (1,032) ​ ​ (3,298) Cash flows from financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net increase (decrease) in commercial paper ​ — ​ ​ (1,500) ​ ​ 100 ​ ​ (255) Proceeds from issuance of debt ​ — ​ ​ 1,458 ​ ​ 750 ​ ​ 2,231 Repayment of debt ​ — ​ ​ (1) ​ ​ (851) ​ ​ (580) Proceeds from exercise of share options ​ 15 ​ ​ 42 ​ ​ 79 ​ ​ 101 Repurchase of ordinary shares ​ (529) ​ ​ (301) ​ ​ (1,348) ​ ​ (910) Payment of ordinary share dividends to shareholders ​ (226) ​ ​ (212) ​ ​ (643) ​ ​ (594) Other ​ (9) ​ ​ (23) ​ ​ (67) ​ ​ (56)

Cash flow statements; nine-month investment, financing and shareholder distributions · Dépôt 22/07/2026

Acquisitions On July 22, 2026, we entered into a definitive agreement to acquire Astrodyne TDI, a leading manufacturer of power and filter solutions, for approximately $1.4 billion in cash.

MD&A—Acquisitions; July 22, 2026 acquisition agreement · Dépôt 24/07/2026

FINANCIAL STATEMENTS TE CONNECTIVITY PLC CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the ​ For the ​ ​ ​ Quarters Ended ​ Nine Months Ended ​ ​ ​ June 26, ​ June 27, ​ June 26, ​ June 27, ​ ​ ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ 2026 ​ ​ ​ 2025 ​ ​ ​ ​ ​ (in millions, except per share data) ​ Net sales ​ $ 5,160 ​ $ 4,534 ​ $ 14,573 ​ $ 12,513 ​ Cost of sales ​ 3,325 ​ 2,934 ​ 9,254 ​ 8,094 ​ Gross margin ​ 1,835 ​ 1,600 ​ 5,319 ​ 4,419 ​ Selling, general, and administrative expenses ​ 532 ​ ​ 491 ​ 1,606 ​ ​ 1,372 ​ Research, development, and engineering expenses ​ 230 ​ ​ 211 ​ 692 ​ ​ 602 ​ Acquisition and integration costs ​ 9 ​ ​ 27 ​ 20 ​ ​ 41 ​ Restructuring and other charges, net ​ 83 ​ ​ 14 ​ 103 ​ ​ 109 ​ Operating income ​ ​ 981 ​ ​ 857 ​ ​ 2,898 ​ ​ 2,295 ​ Interest income ​ ​ 21 ​ ​ 17 ​ ​ 67 ​ ​ 62 ​ Interest expense ​ (31) ​ ​ (28) ​ (93) ​ ​ (48) ​ Other income (expense), net ​ — ​ ​ — ​ 2 ​ ​ (2) ​ Income from continuing operations before income taxes ​ 971 ​ 846 ​ 2,874 ​ 2,307 ​ Income tax expense ​ (223) ​ ​ (208) ​ (520) ​ ​ (1,128) ​ Income from continuing operations ​ 748 ​ 638 ​ 2,354 ​ 1,179 ​ Loss from discontinued operations, net of income taxes ​ — ​ ​ — ​ (1) ​ ​ — ​ Net income ​ $ 748 ​ $ 638 ​ $ 2,353 ​ $ 1,179 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 2.57 ​ $ 2.16 ​ $ 8.03 ​ $ 3.96 ​ Loss from discontinued operations ​ — ​ — ​ — ​ — ​ Net income ​ 2.57 ​ 2.16 ​ 8.03 ​ 3.96 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Income from continuing operations ​ $ 2.55 ​ $ 2.14 ​ $ 7.98 ​ $ 3.93 ​ Loss from discontinued operations ​ — ​ — ​ — ​ — ​ Net income ​ 2.55 ​ 2.14 ​ 7.98 ​ 3.93 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-average number of shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ 291 ​ ​ 296 ​ 293 ​ ​ 298 ​ Diluted ​ 293 ​ ​ 298 ​ 295 ​ ​ 300 ​ See accompanying Notes to Condensed Consolidated Financial Statements.

Condensed Consolidated Statements of Operations; operating income and diluted shares · Dépôt 24/07/2026

The following table describes the general terms and conditions of the fiscal 2025 grants: Description Performance Stock Units (PSU) Stock Options (SO) Definition Promise to deliver a share of TE stock at a specified point in the future as long as certain performance metrics are achieved Right to purchase an ordinary share of TE at a future date for a predetermined, fixed price Performance Period 3 Years 4 Years Performance Measure Three-year average Relative Earnings Per Share (EPS) Growth against S&P 500 Non-Financial Index – Award Vesting (% of Target) Threshold (25th) – 50% Target (50th) – 100% Maximum (75th) – 200% – Vesting Cliff Vesting upon the MDCC certification following the third anniversary of the grant date 25% Ratable beginning on or after the first anniversary of the grant date Expiration – 10 years Dividends Dividend Equivalent Units (DEU) vesting on the third anniversary proportional to the PSUs earned Not applicable ​ ​ ​ 2026 Annual General Meeting Proxy Statement 59 ​ Table of Contents ​ Grant of Fiscal 2025 Long-Term Incentive Awards The MDCC granted long-term equity incentive awards for fiscal year 2025 in November 2024.

Compensation Discussion and Analysis; actual fiscal 2025 grants and vesting terms · Dépôt 15/01/2026

Kroeger ​ $ 2,300,000 Mr. Jenkins ​ $ 2,100,000 ​ Payout for Fiscal 2023 PSU Grant Fiscal year 2025 was the third year of our fiscal year 2023 PSU grant and recipients earned shares for the period calculated at 136% of target which reflected the Company’s performance relative to the index over the three-year period.

Compensation Discussion and Analysis; fiscal 2023 PSU outcome · Dépôt 15/01/2026

Additional market samples are also referenced to meet unique circumstances where appropriate Focus on executive stock ownership – Designed to ensure that our leaders own stock and directly align their long-term financial interests with all other shareholders – The TE Connectivity Stock Ownership and Retention Requirement Plan, together with long-term equity awards, drives executive stock ownership – The CEO is required to hold shares equal to six times his base salary, and the other named executive officers are required to hold shares equal to three times their respective base salaries Simple and transparent – Designed to ensure both our leaders and external stakeholders understand our priorities and expectations – Our executive compensation programs are designed to be readily understood by our executives, and transparent to our investors Fair and Equitable – Designed to deliver fair and equitable pay based on roles and responsibilities and on company and individual performance, regardless of gender, race/ethnicity or any other individual demographics ​ ​ Industry Peer Group As part of its oversight of executive compensation, the MDCC periodically reviews market data to ensure that pay levels, mix, and practices for senior executives remain competitive and aligned with shareholder interests.

Compensation Discussion and Analysis; executive ownership requirements · Dépôt 15/01/2026

In addition, there is a reserve pool of 10% of the total target annual incentive award pool amount that, with the MDCC’s approval, can be used by the CEO to reward exceptional performance at either the business unit or individual level, regardless of performance results against the established financial measures.

Compensation Discussion and Analysis; discretionary incentive reserve · Dépôt 15/01/2026

​ To conduct its business the Board maintains three standing committees: Audit, Management Development and Compensation, and Nominating, Governance and Compliance Committee, each of which are comprised entirely of independent directors.

Corporate Governance—Board Committees; independence · Dépôt 15/01/2026

Clawbacks and Other Remedies for Potential Misconduct In accordance with the TE Connectivity plc Incentive-Based Compensation Recovery Policy, the Board will seek reimbursement from covered executive officers (which includes our NEOs) for the amount of erroneously awarded compensation (i.e., the amount of incentive-based compensation received that exceeds the amount of incentive-based compensation that otherwise would have been received had it been determined based on restated amounts) resulting from an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement (i) to correct an error in previously issued financial statements that is material to the previously issued financial statements or (ii) that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

Compensation Discussion and Analysis; existing compensation recovery policy · Dépôt 15/01/2026

The independent auditor may not begin any work without confirmation of Audit Committee approval from the Corporate Controller or his/her delegate.

Audit Committee Report; auditor-service approval requirement · Dépôt 15/01/2026

Transportation Solutions $ 541 21.0 % $ 486 20.1 % $ 1,586 21.2 % $ 1,476 21.2 %

Segment Summary; quarterly and nine-month adjusted Transportation margins · Dépôt 22/07/2026

The majority of the Company’s international operations have broad capabilities, including new product development.

Amphenol strategy; international new-product development capabilities · Dépôt 11/02/2026

Historique des publications

Sources

• filing-1 · Dépôt 10/11/2025
• filing-2 · Dépôt 24/07/2026
• filing-3 · Dépôt 15/01/2026
• filing-4 · Dépôt 12/11/2024
• filing-5 · Dépôt 13/11/2023
• filing-6 · Dépôt 24/04/2026
• filing-7 · Dépôt 22/07/2026
• filing-8 · Dépôt 22/07/2026
• filing-9 · Dépôt 22/04/2026
• filing-10 · Dépôt 22/04/2026
• filing-11 · Dépôt 21/01/2026
• filing-12 · Dépôt 21/01/2026
• filing-13 · Dépôt 07/10/2026
• filing-14 · Dépôt 11/03/2026
• Aptiv PLC annual report: competitor disclosure for comparison only. Its financial results, customer outcomes and advantages are not those of the subject issuer; compare only explicitly supported scope. · Dépôt 06/02/2026
• Amphenol Corporation annual report: competitor disclosure for comparison only. Its financial results, customer outcomes and advantages are not those of the subject issuer; compare only explicitly supported scope. · Dépôt 11/02/2026