Methode Electronics : Fiscal 2021 Fourth Quarter Earnings Conference Call Presentation

FISCAL 2021

FOURTH QUARTER & FULL YEAR FINANCIAL RESULTS

June 24, 2021

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) Impact from pandemics, such as the COVID-19 pandemic; 2) Dependence on the automotive and commercial vehicle industries; 3) Dependence on our supply chain, including semiconductor suppliers; 4) Dependence on a small number of large customers, including two large automotive customers; 5) Dependence on the availability and price of materials; 6) Failure to attract and retain qualified personnel; 7) Timing, quality and cost of new program launches; 8) Risks related to conducting global operations; 9) Ability to compete effectively; 10) Investment in programs prior to the recognition of revenue; 11) Ability to withstand pricing pressures, including price reductions; 12) Impact from production delays or cancelled orders; 13) Ability to successfully benefit from acquisitions and divestitures; 14) Ability to withstand business interruptions; 15) Breaches to our information technology systems; 16) Ability to keep pace with rapid technological changes; 17) Ability to protect our intellectual property; 18) Costs associated with environmental, health and safety regulations;

1. International trade disputes resulting in tariffs and our ability to mitigate tariffs; 20) Impact from climate change and related regulations; 21) Ability to avoid design or manufacturing defects; 22) Recognition of goodwill and long-lived asset impairment charges; 23) Ability to manage our debt levels and any restrictions thereunder; 24) Currency fluctuations; 25) Income tax rate fluctuations; 26) Judgments related to accounting for tax positions; 27) Adjustments to compensation expense for performance-based awards; 28) Timing and magnitude of costs associated with restructuring activities; and 29) Impact to interest expense from the replacement or modification of LIBOR.

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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. Prior to Fiscal 2021 the definition of Free Cash Flow was net income plus depreciation and amortization less capital expenditures. 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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FY21 Q4 Business Highlights

Quarterly Performance	Electric Vehicle Activity
Sales of $301 Million	Over 13% of Q4 Consolidated Sales
Organic Sales Up 37%	Expecting Mid-Teens % in FY22
Margin Headwind from Supply Chain Disruptions	Growth in Power Distribution
Business Activity	Balance Sheet
Growth in Auto, Commercial Vehicle, & Dabir	Further Net Debt Reduction
Strong Awards in EV, LED Lighting and e-Bike	Purchased $7.5 Million in Methode Shares

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FY21 Q4 Select Business Awards

Electric & Hybrid Electric Vehicles

• Battery and Motor Busbars for European Auto OEM
• Busbar Assembly for European Commercial Vehicle OEM

• Exterior Door Activation Switch for U.S. Auto OEM

• e-MotorBusbar Ring for European Auto OEM
• Busbar Assembly for U.S. Truck OEM
• LED Cargo Lamp Lighting for U.S. Truck OEM

LED Lighting (non-EV)

• LED Ambient Lighting System for U.S. Auto OEM
• LED Headlamp and Signals for U.S. Motorcycle OEM
• LED Fog Lamp Lighting for Asian Auto OEM

Cloud Computing

• Busbar Assembly for a U.S. Data Center Supplier
• Busbar Assembly for a U.S. Data Center Supplier

Other

• Torque Sensor for European e-Bike Motor OEM
• Overhead Console for U.S. Auto OEM
• Integrated Tailgate Module for U.S. Auto OEM
• Hi-VoltageBypass Switch for European Wind Farm

$15M*

$11M*

$3M*

$13M*

5	Customer and Program Diversity Increasing

*Expected annual sales at full production