Q1 2024 EARNINGS RELEASE

April 30, 2024

1

DISCLAIMERS

Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer or solicitation to purchase or sell securities of Littelfuse, Inc. and no investment decision should be made based upon the information provided herein. Littelfuse strongly urges you to review its filings with the Securities

and Exchange Commission, which can be found at investor.littelfuse.com. This website also provides additional information about Littelfuse.

"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995. The statements in this presentation that are not historical facts are intended to constitute "forward-looking statements" entitled to the safe-harbor provisions of the Private Securities Litigation Reform Act. Such statements are based on Littelfuse, Inc.'s ("Littelfuse" or the "Company") current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward- looking statements. These risks and uncertainties, include, but are not limited to, risks and uncertainties relating to general economic conditions; product demand and market acceptance; the impact of competitive products and pricing; product quality problems or product recalls; capacity and supply difficulties or constraints; coal mining exposures reserves; cybersecurity matters; failure of an indemnification for environmental liability; exchange rate fluctuations; commodity and other raw material price fluctuations; the effect of Littelfuse

accounting policies; labor disputes; restructuring costs in excess of expectations; pension plan asset returns less than assumed; integration of acquisitions; uncertainties related to political or regulatory changes; and other risks which may be detailed in the company's Securities and Exchange Commission filings. Should one or more of these risks or uncertainties materialize or should the underlying assumptions prove incorrect, actual results and outcomes may differ materially from those indicated or implied in the forward-looking statements.

This presentation should be read in conjunction with information provided in the financial statements appearing in the company's Annual Report on Form 10-K for the year ended December 30, 2023. Further discussion of the risk factors of the company can be found under the caption "Risk Factors" in the company's Annual Report on Form 10-K for the year

ended December 30, 2023, and in other filings and submissions with the SEC, each of which are available free of charge on the company's investor relations website at investor.littelfuse.comand on the SEC's website at http://www.sec.gov. These forward-looking statements are made as of the date hereof. The company does not undertake any obligation to update, amend or clarify these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the availability of new information.

Non-GAAPFinancial Measures. The information included in this presentation includes the non-GAAP financial measures of organic net sales (decline) growth, adjusted operating

margin, adjusted EBITDA margin, adjusted diluted earnings per share, adjusted effective tax rate, free cash flow, and consolidated net leverage ratio (as defined in the credit agreement). A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures are set forth in the appendix. The company believes that these non-GAAP financial measures provide useful information to investors regarding its operational performance, ability to generate cash and its credit position enhancing an investor's overall understanding of its core financial performance. The company believes that these non-GAAP financial measures are commonly used by financial analysts and provide useful information to analysts. Management uses these measures when assessing the performance of the business and for business planning purposes. Note that the definitions of these non-GAAP financial measures may differ from those terms as defined or used by other companies.

Littelfuse, Inc. © 2024 2

BUSINESS UPDATE

Dave Heinzmann, President & CEO

EXECUTIVE SUMMARY

  • Executing in a continued dynamic environment
    • Q1 Sales exceed the high end of guidance
    • Adjusted EPS in-line with guidance
    • Strong cash generation, well-positioned balance sheet
  • Ongoing momentum from portfolio diversification and optimization initiatives
    • Resilient Electronics segment margins
    • Rebounding Transportation segment margins
  • Continued confidence in expected return to growth during 2024

Execution & new business momentum support long-term growth strategy

Littelfuse, Inc. © 2024 4

2021 - 2025 GROWTH STRATEGY

EMPOWERING A SUSTAINABLE, CONNECTED, AND SAFER WORLD

Our capabilities, investments & diversification deliver significant value

Littelfuse, Inc. © 2024 5

ELECTRONICS END MARKETS

EXECUTING WHILE DRIVING INNOVATIONS

Q1 2024 Highlights

  • Leading technology enabler for a broad & growing base of customers
    • Solid design win momentum supporting new customer product launches
  • Ongoing soft consumer demand; stable medical exposure
  • Delivering on a diverse set of customer opportunities across structural growth themes
    • Safety-criticalmedical win in China
    • Space related communications win in NA
    • Telecom / data center wins across multiple regions

Littelfuse, Inc. © 2024 6

INDUSTRIAL END MARKETS

POSITIONED FOR LONG TERM GROWTH

Q1 2024 Highlights

  • Softening broad based industrial demand
    • Seeing areas of excess OEM inventory
  • Long term growth drivers intact
    • Supported by infrastructure spend, increasing electrical efficiency requirements & decarbonization
  • Design momentum driven by engineering expertise
    • broad product portfolio
      • Charging infrastructure application wins across multiple regions and applications
      • Energy storage win for renewables application supporting sustainability growth theme
      • Continued industrial safety design win momentum driven by advancing regulations

Littelfuse, Inc. © 2024 7

TRANSPORTATION END MARKETS

BALANCED CAPABILITIES ACROSS APPLICATIONS

Q1 2024 Highlights

  • Continued auto content momentum supported by product breadth and global customer reach
    • Content per vehicle expansion in China
    • High voltage traction supported by innovative product pipeline
  • Technology leadership and operational scale enable continued customer traction
    • Multi-technologywin for onboard charging application in Europe
    • High voltage wins across NA, China, Korea
    • Multi-technologywin for electric commercial truck customer

Littelfuse, Inc. © 2024 8

FINANCIAL UPDATE

Meenal Sethna, EVP & CFO

Q1 2024 TOTAL COMPANY

FINANCIAL PERFORMANCE

(in millions)

Revenue

$610

$535

Q1-23

Q1-24

GAAP EPS

$3.54

$1.93

Adj. EPS

$3.64

$1.76

Adj. EBITDA%

24.6%

17.1%

Highlights

  • Revenue (-12%) vs PY / organic
    • ~2% portfolio pruning headwind
  • GAAP op margin 10.3%; Adj op margin 11%
  • Effective tax rate: GAAP 13%; Adj. 19.3%
    • Includes one-time discrete benefits
  • Operating cash flow $57m, +7% vs PY; Free cash flow $42m

See appendix for GAAP to non-GAAP reconciliation

10

Littelfuse, Inc. © 2024

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Littelfuse Inc. published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 May 2024 09:16:38 UTC.