Methode Electronics : Fiscal 2023 First Quarter Earnings Conference Call

FISCAL 2023

FIRST QUARTER FINANCIAL RESULTS

September 1, 2022

Forward-Looking Statements

This presentation contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward- looking statements are subject to the safe harbor protection provided under the securities laws.

Methode undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Methode's expectations on a quarterly basis or otherwise. The forward- looking statements in this presentation involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from our expectations are detailed in Methode's filings with the Securities and Exchange Commission, such as our annual and quarterly reports. Such factors may include, without limitation, the following: 1) Dependence on our supply chain, including semiconductor suppliers; 2) Impact from pandemics, such as the COVID-19 pandemic; 3) Dependence on the automotive and commercial vehicle industries; 4) Impact from inflation; 5) Dependence on a small number of large customers, including one large automotive customer; 6) Dependence on the availability and price of materials; 7) Risks related to conducting global operations; 8) Ability to withstand pricing pressures, including price reductions; 9) Currency fluctuations; 10) Timing and magnitude of costs associated with restructuring activities; 11) Failure to attract and retain qualified personnel; 12) Recognition of goodwill and other intangible asset impairment charges; 13) Timing, quality and cost of new program launches; 14) International trade disputes resulting in tariffs and our ability to mitigate tariffs; 15) Adjustments to compensation expense for performance-based awards; 16) Investment in programs prior to the recognition of revenue; 17) Ability to compete effectively; 18) Impact from production delays or cancelled orders; 19) Ability to withstand business interruptions; 20) Ability to keep pace with rapid technological changes; 21) Breaches to our information technology systems; 22) Ability to avoid design or manufacturing defects; 23) Ability to manage our debt levels and any restrictions thereunder; 24) Income tax rate fluctuations; 25) Ability to protect our intellectual property; 26) Ability to successfully benefit from acquisitions and divestitures; 27) Impact from climate change and related regulations; 28) Judgments related to accounting for tax positions; and 29) Costs associated with environmental, health and safety regulations.

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Non-GAAP Financial Measures

To supplement the company's financial statements presented in accordance with generally accepted accounting principles in the United States ("GAAP"), Methode uses certain non-GAAP financial measures, such as EBITDA, Net Debt, and Free Cash Flow. Reconciliation to the nearest GAAP measures of all non-GAAP measures included in this presentation can be found in the appendix. Management believes EBITDA is useful to investors as it is a measure that is commonly used by other companies in our industry and provides a comparison for investors to the company's performance versus its competitors. Management believes Net Debt is a meaningful measure to investors because management assesses the company's leverage position after considering available cash that could be used to repay outstanding debt. Management believes Free Cash Flow is a meaningful measure to investors because management reviews cash flows generated from operations after taking into consideration capital expenditures, which are both necessary to maintain the company's asset base and which are expected to generate future cash flows from operations. Methode's definitions of these non-GAAP measures may differ from similarly titled measures used by others. These non-GAAP measures should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP.

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FY23 Q1 Highlights

Quarterly Performance	Electric Vehicle Activity
Sales of $282M, Including $11M in Cost Recovery	17% of Q1 Consolidated Sales
Auto Market Headwinds in Asia and Europe	Impacted by China Lockdowns
Record Industrial Segment Sales of $92M	Still Expecting 20% in FY23

Business Activity	Balance Sheet & Cash Flow
Ongoing Material Cost Inflation	Positive Free Cash Flow
Program Awards of Over $90M	Purchased $12M of Methode Shares
Award Activity in Multiple Applications	Continued Debt Reduction

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FY23 Q1 Select Business Awards

Electric Vehicles

• Battery Busbar Assembly for U.S. Truck OEM
• Battery Busbar Assembly for U.S. Auto OEM

• Park Lock Actuator Assembly for U.S. Auto OEM

• Terminal Block Assembly for U.S. Auto OEM

Non-EV Automotive

• Overhead Console Assembly for European Auto OEM
• Lead Frame Assembly for European Powertrain OEM
• E-ShifterAssembly for European Auto OEM
• Indicator Lamp Assembly for Asian Auto OEM

Other

• Headlight Assembly for U.S. Motor Sports OEM

• Torque Sensor for European e-Bike Powertrain OEM

• Busbar Assembly for U.S. Defense OEM
• Busbar Assembly for U.S. Defense Supplier

$39M*

$32M*

$19M*

5	Over $90M in Awards in Multiple Applications

*Expected annual sales at full production