Form 8-K

8-K — PLEXUS CORP

Accession: 0000785786-26-000028

Filed: 2026-04-29

Period: 2026-04-28

CIK: 0000785786

SIC: 3672 (PRINTED CIRCUIT BOARDS)

Item: Results of Operations and Financial Condition

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Financial Statements and Exhibits

Documents

8-K — plxs-20260428.htm (Primary)

EX-10.1 (plxsf26q2er-ex101.htm)

EX-99.1 (plxsf26q2er-ex991.htm)

EX-99.2 (plxsf26q2er-ex992.htm)

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8-K

8-K (Primary)

Filename: plxs-20260428.htm · Sequence: 1

plxs-20260428

0000785786false00007857862026-04-282026-04-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________________________________________________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

____________________________________________________________________________________________________________________________________

Date of Report (Date of earliest event reported): April 28, 2026

____________________________________________________________________________________________________________________________________

PLEXUS CORP.

(Exact name of registrant as specified in its charter)

____________________________________________________________________________________________________________________________________

Wisconsin 001-14423 39-1344447

(State or other jurisdiction

of incorporation) (Commission

File Number) (IRS Employer

Identification No.)

One Plexus Way

Neenah, Wisconsin 54956

(Address of principal executive offices) (Zip Code)

Telephone Number (920) 969-6000

(Registrant’s telephone number, including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Common Stock, $0.01 par value PLXS The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 29, 2026, Plexus Corp. (“we” or the “Company”) announced results for the fiscal second quarter ended April 4, 2026. A copy of the Company’s related press release is furnished as Exhibit 99.1 to this report.

Item 5.02 Departure of Director or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On April 27, 2026, Patrick J. Jermain, the Executive Vice President and Chief Financial Officer of Plexus Corp. (“Plexus” or the “Company”), informed the Company of his intent to retire from his employment with the Company at midnight on July 31, 2026 (the "Retirement Date"). Mr. Jermain will continue in his role as Executive Vice President and Chief Financial Officer, and as the principal financial and accounting officer and an executive officer of the Company, until midnight on May 10, 2026. Between May 11 and July 31, 2026, Mr. Jermain will continue to be employed by the Company, serving in an advisory capacity to support a seamless transition of the finance function.

In connection with the foregoing, the Company entered into a retirement and transition agreement with Mr. Jermain on April 28, 2026 (the "Retirement Agreement"). Under the terms of the Retirement Agreement, Mr. Jermain’s base salary will cease on the Retirement Date, and he will no longer be eligible to receive grants of any additional equity awards. Mr. Jermain will receive a pro-rata portion of fiscal 2026 compensation under Plexus’ Variable Incentive Compensation Plan (the “VICP”) based on the number of days of his employment during fiscal 2026 and actual performance on the VICP’s underlying metrics and objectives. The Company will also transfer to Mr. Jermain title to his company vehicle on his Retirement Date, and Mr. Jermain will continue to receive subsidized health benefits from the Company (equal to the employer portion of his currently selected health plan premiums) for a period of 18 months after the Retirement Date if he elects COBRA in a timely manner and remains eligible for it.

In consideration of Mr. Jermain’s 15 years of service to Plexus and his agreement to the restrictive covenants contained in the Retirement Agreement, including those relating to non-competition, non-interference and non-disparagement, as well as Mr. Jermain’s general release of claims against the Company, Mr. Jermain’s unvested restricted stock units ("RSUs") and unvested performance stock units ("PSUs") that exist as of the Retirement Date will continue to vest. His unvested RSUs will continue to vest on the existing vesting schedules as identified in the original grant agreements, and his unvested PSUs will vest based on final performance results for the performance periods that are identified in the original grant agreements. Mr. Jermain will forfeit the right to continue to vest in the RSUs and PSUs if he breaches the terms of the Retirement Agreement.

The foregoing summary of the material terms of the Retirement Agreement is qualified in its entirety by the terms of the Retirement Agreement, which is filed herewith as Exhibit 10.1 and incorporated herein by reference.

On May 11, 2026, in accordance with the Company’s succession plan, David Abuhl will assume the role of Senior Vice President, Chief Financial Officer and principal financial and accounting officer. Mr. Abuhl, age 43, has served as the Company’s Sr. Vice President of Finance since September, 2025. Prior to joining Plexus, Mr. Abuhl was Chief Financial Officer - Enterprise Supply Chain at Kimberly-Clark Corporation from May 2023 to September 2025, and was Finance Director and Chief Financial Officer of Kimberly-Clark Professional EMEA from October 2020 to April 2023. Mr. Abuhl earned a bachelor’s degree in business at Wheaton College and a master of business administration degree from Southern Methodist University Cox School of Business.

Mr. Abuhl’s base salary as Chief Financial Officer will be $550,000 and his annual targeted award under the VICP will be 80% of his base salary. Mr. Abuhl will also be eligible to participate in the Company’s various compensation programs, including the Company’s long-term incentive plan. For a description of these programs and other benefits available to the Company’s executive officers, please see the Company’s definitive proxy statement for its 2026 Annual Meeting of Shareholders, which was filed with the Securities and Exchange Commission on December 22, 2025.

There are no arrangements or understandings between Mr. Abuhl and any other person pursuant to which he was selected to serve in the roles described above. Mr. Abuhl does not have any familial relationship with any director or executive officer of the Company, and there are no transactions in which Mr. Abuhl has an interest requiring disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits

(d) The following exhibits are included herewith:

Exhibit Number Description

10.1

Retirement and Transition Agreement by and between Plexus Corp. and Patrick J. Jermain, dated April 28, 2026.

99.1

Financial press release issued by Plexus Corp., dated April 29, 2026

99.2

Executive transition press release issued by Plexus Corp., dated April 29, 2026

104 Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document)

* * * * *

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 29, 2026

PLEXUS CORP.

(Registrant)

By: /s/ Angelo Ninivaggi

Angelo Ninivaggi

Executive Vice President, Chief Legal and Public Affairs Officer

EX-10.1

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Document

Retirement and Transition Agreement

DATE: April 28th, 2026

TO: Patrick J. Jermain

This Retirement and Transition Agreement (“Agreement”) is made by and between Patrick J. Jermain (“You”) and Plexus Corp. (“Plexus”), and sets forth the conditional compensation and benefits that Plexus will provide as you transition from your role as Executive Vice President and Chief Financial Officer of Plexus to your retirement. Your active employment will cease effective at midnight on July 31, 2026 (“Retirement Date”).

Recitals

In your role as Executive Vice President and Chief Financial Officer of Plexus, you have made valuable contributions, which Plexus desires to recognize with this Agreement.

During the time you were employed as Executive Vice President and Chief Financial Officer, you had access to and were involved in the review, development, and use of Confidential Information and Trade Secrets of Plexus and its affiliated companies (collectively “Plexus”) and their customers and suppliers, which Plexus has a legitimate business interest and need to protect against unauthorized use and disclosure.

You are under contractual, statutory, and common law duties and obligations to treat and hold Confidential Information and Trade Secrets as confidential and not use or disclose the same for any purpose competitive with or otherwise contrary to the legitimate interests of Plexus and/or its customers or suppliers. Your obligations with respect to the confidentiality and safeguarding of this information extend for a period of time post-employment, which you acknowledge to be reasonable and appropriate.

Plexus also has a strong business interest in ensuring the orderly and smooth transition of your role as Executive Vice President and Chief Financial Officer to your successor and in reaching an amicable separation with you without the time, cost, and distraction of legal claims and/or disputes.

By entering into this Agreement, you and Plexus desire to fully and finally resolve all claims and potential claims that exist now or that may exist between us in the future and to provide for a smooth and orderly transition from your role as Executive Vice President and Chief Financial Officer.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties intending to be legally bound, agree as follows:

Retirement and Transition Agreement

AGREEMENT

1. Ending Date of Your Role as Executive Vice President and Chief Financial Officer and Resignation from Other Officer Positions. You will continue in your role as Executive Vice President and Chief Financial Officer of Plexus until midnight on May 10, 2026. Effective on the same date and time, you will assume the transitional role outlined in Section 2 below and you will resign from all officer, director, committee, and other roles you hold with Plexus.

2. Transition Assistance. From May 11, 2026 to and including midnight on your Retirement Date, you will provide such transitional services as are necessary or as may reasonably be assigned to you by Plexus’ Chief Executive Officer to ensure the continuity of operations and the seamless transition of duties and responsibilities to your successor (“Transition Period”). During the Transition Period, you will continue to be paid the same base pay as you were receiving on May 10, 2026, and you will continue to be eligible for those employee benefits as are available to Plexus’ regular full-time exempt salaried employees.

3. Final Pay and Ending Date of Employee Benefits. You will be paid final pay earned in the last payroll period of the Transition Period by direct deposit on the next regular corporate payroll date occurring for salaried exempt employees after your Retirement Date. Your final pay will be subject to and reduced by applicable income and payroll tax withholdings and other deductions required by law. You will receive your final pay regardless of whether you sign this Agreement. Your eligibility for Plexus employee benefits shall end on your Retirement Date. Information concerning continuation of medical, dental, vision, and flexible spending benefits will be sent directly to your home from United Healthcare, the COBRA Administrator. This will be sent after your Retirement Date. Regardless of whether you sign this Agreement, you will be eligible for COBRA continuation at your sole cost, subject to your timely election and timely payment of premiums. If you sign this Agreement, Plexus will provide you with COBRA premium assistance as set forth in Section 5.1 below.

4. Reimbursable Expenses. Any outstanding expense reports must be received within thirty (30) days from your Retirement Date for reimbursement to occur.

5. Conditional Compensation and Benefits. In consideration of your timely execution and return of this Agreement in accordance with Section 9 below, and conditioned on your full compliance with the terms and conditions of this Agreement, including, specifically, the restrictive covenants set forth in Section 14, Plexus will provide you with the conditional compensation and benefits set forth below. If you do not timely sign and return this Agreement, you will not receive the conditional pay and benefits offered below (except to the extent such items are provided under the terms of your existing arrangements).

5.1 COBRA Premium Assistance. As additional consideration for acceptance of this Agreement, Plexus will subsidize your COBRA medical insurance premium payment in the same amount as Plexus was contributing to the cost of your medical insurance prior to your Retirement Date for up to eighteen (18) months, provided that you timely elect COBRA and remain eligible for it during that time. Once you have timely elected COBRA coverage, and have signed and not revoked this Agreement, United Healthcare will bill you an amount equal to the active employee contribution for the coverage elected. In other words, you will pay the same amount for medical, dental, and vision COBRA coverage as you paid for these coverages as an active employee for the period defined above.

Retirement and Transition Agreement

5.2 Equity Compensation.

(a) Outstanding Unvested Restricted Stock Units. If you timely sign and do not revoke your acceptance of this Agreement, your outstanding restricted stock units (as shown below) (“RSUs”) will remain outstanding and will vest according to their terms on the vesting dates noted in the table below. You will have no risk of forfeiture of the RSUs provided that you comply with all terms and provisions of this Agreement, including, but not limited to, the restrictive covenant provisions of Section 14, and/or you do not otherwise engage in conduct detrimental to the interests of Plexus. For clarity and avoidance of doubt, the restrictive covenant provisions of Section 14 of this Agreement shall continue in full force and effect until the later of the 15th of February 2029 or the date of the Certification of the Compensation and Leadership Development Committee with regard to the TSR PSU with an estimated vest date of 15th of February 2029, as shown in the Table on the next page:

Award Type

Grant Date

Vest Date

RSUs Granted

RSU

29 JAN 2024

29 JAN 2027

9,630

RSU

03 FEB 2025

03 FEB 2028

7,210

RSU

09 FEB 2026

09 FEB 2029

4,030

Upon vesting, the shares of stock related to your RSUs will be delivered to your E*TRADE account net of taxes on the original vesting dates (subject to any six-month delay required for compliance with Section 409A of the Internal Revenue Code of 1986 (“Section 409A”). The shares are not subject to any further restrictions or requirements after vesting, except for potential clawback under applicable law or in the event of a material breach by you of this Agreement.

(b) Outstanding Unvested Performance Stock Units. If you timely sign and do not revoke your acceptance of this Agreement, your outstanding unvested Performance Stock Units (“PSUs”) (as shown in the Table on the next page) will remain outstanding and will be allowed to vest, to the extent earned, on the date of the Certification of the Compensation and Leadership Development Committee. The number of PSUs you will ultimately earn will be based on the final performance results for the performance period and noted in your individual grant agreement. There will be no risk of forfeiture of these PSUs provided that you comply with all terms and provisions of this Agreement, including, but not limited to, the restrictive covenant provisions of Section 14, and/or you do not otherwise engage in conduct detrimental to the interests of Plexus. For clarity and avoidance of doubt, the restrictive covenant provisions of Section 14 of this Agreement shall continue in full force and effect until the later of the 15th of February 2029 or the date of the Certification of the Compensation and Leadership Development Committee with regard to the TSR PSU with an estimated vest date of 15th of February 2029, as shown in the Table on the next page:

See PSU Award Table on Next Page

Retirement and Transition Agreement

Award Type

Grant Date

Vest Date*

Target PSUs Granted

ER PSU

29 JAN 2024

18 NOV 2026

4,820

ER PSU

03 FEB 2025

17 NOV 2027

3,600

ER PSU

09 FEB 2026

16 NOV 2028

4,030

TSR PSU

29 JAN 2024

17 FEB 2027

4,230

TSR PSU

03 FEB 2025

16 FEB 2028

3,610

TSR PSU

09 FEB 2026

15 FEB 2029

1,640

*Estimated date of Compensation & Leadership Development Committee certification

The shares of stock related to your PSUs will be delivered to your E*TRADE account net of taxes as soon as practical following Certification by the Compensation & Leadership Development Committee (subject to any six-month delay required for compliance with Section 409A), and are not subject to any further requirements or restrictions after vesting except for potential clawback as required by applicable law or in the event of a material breach by you of this Agreement.

(c) Except to the extent otherwise set forth above, your outstanding equity-based awards will continue to be subject to, and governed by, the existing Plan documents governing such awards. Any and all awards other than those set forth above shall be forfeited and will not be paid out to you in cash or equity.

5.3 Prorated Variable Incentive Compensation Plan Bonus. Notwithstanding your Retirement Date before the end of the plan year, you will be eligible to be paid a prorated Variable Incentive Compensation Plan payment as part of the conditional benefits offered under this Agreement. Such payment will be calculated based on achievement of personal goals for similarly situated executive level participants and of corporate goals relating to Revenue and ROIC targets for the plan year. The prorated bonus will be paid by direct deposit and is subject to applicable income and payroll tax withholdings and other deductions required by law and shall be paid in November 2026 when VICP bonuses are paid to other VICP-eligible employees per the plan schedule.

5.4 Transfer of Company Vehicle. On your Retirement Date or as soon thereafter as is practicable, Plexus will gift and transfer to you the company-leased vehicle assigned to you. Plexus will pay the lease payoff amount of approximately $54,675.72. You will have sole liability and responsibility to pay the income tax, cost of titling, and licensing and registration fees incurred in connection with the transfer. After the transfer, you will be solely responsible and liable for maintenance, repair, insurance premium costs, and servicing of the vehicle. The lease payoff will show as an income on your final paycheck.

6. Total and Complete Release. By signing below, you agree that in consideration for the monetary and other benefits described in this Agreement, you fully and completely release Plexus Corp., Plexus Management Services Corporation, and their affiliates, subsidiaries, and related corporations and entities, and all of their past, current and future officers, directors,

Retirement and Transition Agreement

agents, employees, plan fiduciaries, benefit plans, insurers and reinsurers, predecessors, successors and assigns, and any other person or entity who could be claimed to be liable (the

“Releasees”) from any and all claims, demands, actions, judgments, rights, fees, damages, debts, obligations, liabilities, and expenses (inclusive of attorneys’ fees) of any kind whatsoever, whether known or unknown, that you might have arising out of or relating to your hire, compensation, benefits, employment, termination or retirement from employment with Plexus by reason of any actual or alleged act, omission, transaction, practice, conduct, occurrence, or other matter from the beginning of time up to and including the date of your execution of this Agreement, including, but not limited to:

(a) any and all claims under Title VII of the Civil Rights Act of 1964 (Title VII), the Americans with Disabilities Act (ADA), the Family and Medical Leave Act (FMLA) (regarding existing but not prospective claims), the Fair Labor Standards Act (FLSA), the Equal Pay Act, the Employee Retirement Income Security Act (ERISA) (regarding unvested benefits), the Civil Rights Act of 1991, Section 1981 of U.S.C. Title 42, the Fair Credit Reporting Act (FCRA), the Worker Adjustment and Retraining Notification (WARN) Act, the National Labor Relations Act (NLRA), the Age Discrimination in Employment Act (ADEA), the Older Workers Benefit Protection Act, the Uniform Services Employment and Reemployment Rights Act (USERRA), the Genetic Information Nondiscrimination Act (GINA), the Immigration Reform and Control Act (IRCA), the Wisconsin Fair Employment Act, the Wisconsin Family and Medical Leave Law, the Wisconsin Cessation of Health Care Benefits Law, the Wisconsin Wage Payment and Collection Act, and any and all federal, state, local, or foreign law (statutory, regulatory, or otherwise) that may be legally waived including any amendments and their respective implementing regulations;

(b) any and all claims for compensation of any type whatsoever, including, but not limited to, claims for salary, wages, bonuses, commissions, incentive compensation, deferred compensation, equity incentives, vacation, and severance that may be legally waived and released;

(c) any and all claims arising under tort, contract, and quasi-contract law, including but not limited to claims for breach of an express or implied contract, tortious interference with contract or prospective business advantage, breach of the covenant of good faith and fair dealing, promissory estoppel, detrimental reliance, invasion of privacy, non-physical injury, personal injury or sickness or any other harm, wrongful or retaliatory discharge, fraud, defamation, slander, libel, false imprisonment, and negligent or intentional infliction of emotional distress;

(d) any and all claims for monetary or equitable relief, including, but not limited to, attorneys' fees, back pay, front pay, reinstatement, experts' fees, medical fees or expenses, costs and disbursements, punitive damages, liquidated damages, and penalties; and

(e) any indemnification rights that you may have against Plexus.

Nothing in this Release shall be construed to waive any claims that you may have for vested benefits, Worker’s Compensation benefits, or Unemployment Insurance benefits, and nothing herein shall be construed as a release by you of any future claim that may arise, including any claim for breach of this Agreement.

Retirement and Transition Agreement

Moreover, nothing in this Release constitutes a waiver of your right to file any charge or complaint with the EEOC, the NLRB, the SEC or with any other administrative/governmental agencies (“Excepted Charge”). However, by signing this Agreement, you do hereby waive any right to obtain any damages and monetary relief or recovery that might otherwise result from the filing of any Excepted Charge.

7. Promise Not to Sue. By signing this Agreement, you agree, to the fullest extent permitted by law, never to sue Plexus or any of the Releasees in a court of law or other forum for any of the released claims, except for actions to enforce this Release or challenge its validity. Subject to applicable law, you agree that if Plexus and/or any other Releasee successfully brings an action for your failure to comply with the terms of this Release or successfully defends an action brought by you in violation of this Release, Plexus shall be entitled to immediately cease any payments and benefits not yet paid or provided to you and to recover back any pay and the value of any benefits already provided to You.

8. Reaffirmation of Release. As a material term of this Agreement, and as a condition to receiving the conditional pay and benefits provided hereunder, you agree to sign the attached Reaffirmation of Release (Attachment 1) within seven (7) calendar days of your Retirement Date and return the same to Andy Stanczyk, Sr. Dir. – Total Rewards & HRMS.

9. Knowing and Voluntary Acceptance of Terms. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights or claims that you may have against Plexus and the Releasees under the ADEA, 29 U.S.C. Sec. 621, et. seq. You further acknowledge that you have been advised by this writing, as required by the ADEA and the Older Workers Benefit Protection Act, that:

(a) The Release contained in this Agreement does not apply to any rights or claims that may arise after the execution date of this Release;

(b) You are advised to consult with an attorney prior to executing this Release;

(c) You acknowledge and agree that this Agreement provides you with more pay and benefits than you would otherwise be entitled to under the law;

(d) You have twenty-one (21) days from receiving this Agreement to consider whether you will accept our offer (although you may choose to voluntarily execute this Agreement earlier and to waive such period of consideration). If you do not timely sign and return this Agreement within the 21-day consideration period, the offer made herein will be withdrawn and shall be of no further force or effect. You will return your signed Agreement to Andy Stanczyk, Sr. Dir. – Total Rewards & HRMS;

(e) You have seven (7) days following your execution of this Agreement to revoke your acceptance of it. Your notice of revocation should be directed to Andy Stanczyk, Sr. Dir. – Total Rewards & HRMS; and

(f) This Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth (8th) day after this Agreement is executed by you (“Effective Date”).

Retirement and Transition Agreement

10. Reemployment, Resignations, and Return of Property. You acknowledge that Plexus has no obligation to re-employ you. You represent and warrant that you will, on or before your Retirement Date, provide any resignations from such positions as Plexus deems necessary. To the extent applicable, you agree to resign as an officer or director of any subsidiaries of Plexus effective as of your Retirement Date. Plexus hereby revokes, effective as of your Retirement Date, any and all powers of attorney Plexus may have granted to you during your employment with Plexus or its affiliates. You represent and warrant that you will, on or before your Retirement Date, deliver to Plexus the original and all copies of all documents, records, and property of any nature whatsoever which are in your possession or control and which are the property of Plexus or which relate to Confidential Information or Trade Secrets of Plexus, or to the business activities, facilities, or customers of Plexus, including any records or documents (electronic or otherwise) or property created by you.

11. Acknowledgement of Sufficiency of Consideration. You acknowledge that the pay and benefits provided under this Agreement are greater than and in lieu of any other pay or similar obligations that Plexus and/or the Releasees might otherwise owe you based on written or oral agreement or promise or otherwise, and the sufficiency of this additional consideration is hereby acknowledged. You further acknowledge that the payments to be made to you under this Agreement shall not be taken into account for purposes of determining your benefits under any other qualified or nonqualified plans of Plexus.

12. Confidentiality. Your signature below signifies that you agree that the existence and terms of this Agreement will be kept confidential and will not be disclosed, revealed or characterized (directly or indirectly by innuendo or otherwise) by you, except as required by law, to anyone other than your immediate family and your attorney and tax advisor, who you shall cause also to agree not to make any such further disclosure. Any breach of this provision by a person to whom you lawfully disclose the terms of this Agreement shall be deemed to be a material breach by you.

13. Non-Disparagement. Your signature below signifies that you agree not to make any disparaging remarks about Plexus and/or about any of the Releasees, their products, services, customers, or practices (including, but not limited to, financial and personnel practices), and you represent that you have not knowingly engaged in any wrongdoing towards Plexus or the Releasees, their vendors, customers, employees, or government regulators. However, nothing in this Release shall be construed to prevent you from communicating or cooperating with any government agency regarding matters that are within the agency's jurisdiction.

14. Restrictive Covenant Provisions.

14.1 Definitions. For purposes of the Restrictive Covenant Provisions of this Section 14, the following terms have the following meanings:

(a) “Restrictive Covenant Period” means the time period that begins on the Retirement Date and ends on the later of the 15th of February 2029 or the date of the Certification of the Compensation and Leadership Development Committee with regard to the TSR PSU with an estimated award date of 15th of February 2029.

(b) “Company” shall mean Plexus and its affiliated and related companies.

Retirement and Transition Agreement

14.2 Non-Competition. During the Restrictive Covenant Period (defined above), you agree that you will not, either directly or indirectly, within the United States, Canada, Mexico, Germany, Scotland, Romania, China, Thailand or Malaysia, do any of the following: (a) provide services to a competitor of the Company in a position in which your duties would be substantially similar to the duties that you performed for Plexus in the two (2) years preceding your Retirement Date, and would require you to work on, supervise or support products or services competitive to any of the products or services you worked on, supervised, or supported or about which you gained Confidential Information in the two (2) years prior to your Retirement Date; or (b) provide services to a competitor of the Company in a position in which Confidential Information or Trade Secrets of the Company to which you had substantial exposure in the two (2) years prior to your Retirement Date, would reasonably be considered useful.

14.3 Non-Interference with Customers. During the Restrictive Covenant Period (defined above), you agree that you will not, either directly or indirectly, service, solicit, or entice, or in any manner attempt to cause any customer to purchase products or services sold by the Company from any source other than the Company, nor in any manner cause or attempt to cause any customer or supplier of the Company to diminish their business relationship with or divert their business from the Company. For purposes of this section, a “customer” of the Company shall mean any person or entity (a) with whom you directly or indirectly dealt on behalf of the Company within the two-year period immediately preceding your Retirement Date or (b) about whom/which, during the two (2) years prior to your Retirement Date, you acquired or had substantial exposure to non-public information that could reasonably be used to the competitive disadvantage of the Company absent your full compliance with this Agreement.

14.4 Non-Interference with Employees. During the Restrictive Covenant Period (defined above), you shall not directly or indirectly encourage, advise or solicit (or assist another person or entity in encouraging, advising or soliciting) any Company employee who, within the two (2) years prior to your Retirement Date, you directly supervised or had material contact with, or about whom you acquired non-public information as a result of your employment with Plexus, where such information could be used to facilitate the recruitment of such employee or otherwise induce such employee to leave or diminish their employment with the Company.

14.5 Confidential Information and Trade Secrets. You agree that during the Restrictive Covenant Period (defined above), you shall keep confidential and not use or disclose any Confidential Information related to Plexus’ customers, personnel, designs, pricing, marketing plans, budgets, strategies, financial or other proprietary information that is not otherwise known or readily available to the general public (“Confidential Information”). You understand that your obligations under this Agreement are in addition to and not in lieu of any protections under the Uniform Trade Secrets Act or similar laws. With regard to information constituting a trade secret under applicable law, you shall keep confidential and not use or disclose any such trade secret for as long as such information remains a trade secret under the Uniform Trade Secrets Act and Wis. Stat. Section §134.90. Without limiting

the generality of the foregoing, you specifically reaffirm your obligations under the Employee’s Agreement with Regard to Proprietary Information Including Inventions, Patents, Copyrights, Trade Secrets, and Confidential Information you signed with Plexus (“the Proprietary Information Agreement”).

Retirement and Transition Agreement

15. Defend Trade Secrets Act Disclosure. The foregoing notwithstanding, you may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made: (a) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and provided that such disclosure is solely for

the purpose of reporting or investigating a suspected violation of the law, or (b) in a complaint or other document filed in a lawsuit or other proceeding, provided that such filing is made under seal. Additionally, in the event you file a lawsuit against Plexus for retaliation by it against you for reporting a suspected violation of law, you have the right to provide trade secret information to your attorney and use the trade secret information in the court proceeding, although you must file any document containing the trade secret under seal and you may not disclose the trade secret, except pursuant to court order.

16. Agreement to Cooperate with Litigation. You agree that if Plexus or its legal counsel reasonably deems it necessary, you will cooperate as a witness for any litigation to which Plexus is a party where you have relevant information or evidence to the case, and you agree to make yourself reasonably available to provide truthful testimony and cooperation to Plexus with regard to the pending litigation and/or in connection with Plexus’ investigation into claims and defenses for such litigation.

17. Remedies. In the event that you fail to comply with any of the terms of this Agreement or its post-employment obligations, Plexus may, in addition to any other remedies it may have, reclaim any amounts paid and/or the value of any equity provided to you under this Agreement or terminate any benefits or payments that are later due under the provisions of this Agreement, including forfeiture of any RSUs or PSUs, without waiving the Release provided in this Agreement.

18. Severability. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect, or enforceable only if modified, such finding shall not affect the validity or enforceability of any other portion of this Agreement, which shall remain in full force and effect and continue to be binding on the Parties. Each and every provision of this Agreement is declared to be separate, independent, divisible, and severable from one another such that if one provision is declared unenforceable the other separate, independent, and divisible provisions will continue as valid and in effect.

19. Attorneys’ Fees and Costs. If you breach any of the terms of this Agreement or the post-termination obligations referenced in it, to the extent authorized by Wisconsin law, you will be responsible for payment of all reasonable attorneys' fees and costs that Plexus incurs in the course of enforcing the terms of this Agreement, including demonstrating the existence of a breach and any other enforcement efforts.

20. Final and Complete Agreement. This Agreement represents the entire agreement and understanding between Plexus and you concerning the subject matter hereof and supersedes and replaces any and all prior agreements concerning your relationship with Plexus or its affiliates, oral or written, except for the Employee’s Agreement With Regard to Proprietary Information executed by you, which shall remain in full force and effect. No provision of this Agreement may be waived or amended except by an agreement signed by an authorized representative of Plexus.

21. Governing Law and Forum Selection. In the event that either Party needs to enforce its rights under this Agreement, the Parties agree that this Agreement shall be governed by

Retirement and Transition Agreement

and construed in accordance with the law of the State of Wisconsin, irrespective of any conflicts of law provisions of any state, and the Parties hereby consent to the exclusive jurisdiction of the U.S. District Court-Eastern District of Wisconsin located in Green Bay, Wisconsin, or, if federal subject matter does not exist, to exclusive jurisdiction of the Wisconsin Circuit Court in Winnebago County.

We appreciate your service to Plexus and wish you all the best in your future endeavors.

PLEXUS CORP.

By: /s/ Todd Kelsey April 28, 2026

Date

Todd Kelsey, President and Chief Executive Officer

AGREED TO AND ACCEPTED THIS 28 DAY OF APRIL, 2026.

By: /s/ Patrick J. Jermain

Patrick J. Jermain

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Document

Plexus Announces Fiscal Second Quarter Financial Results

NEENAH, WI – April 29, 2026 - Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal second quarter ended April 4, 2026, and guidance for our fiscal third quarter ending July 4, 2026.

•Reports record fiscal second quarter 2026 revenue of $1.164 billion, GAAP operating margin of 5.3% and GAAP diluted EPS of $1.82.

•Reports fiscal second quarter 2026 non-GAAP operating margin of 6.0% and non-GAAP diluted EPS of $2.05, excluding $0.23 of stock-based compensation expense.

•Initiates fiscal third quarter 2026 revenue guidance of $1.200 billion to $1.250 billion with GAAP diluted EPS of $1.25 to $1.41, including $0.77 of stock-based compensation expense. Fiscal third quarter non-GAAP EPS guidance of $2.02 to $2.18 excludes stock-based compensation expense.

Three Months Ended

Apr 4, 2026 Apr 4, 2026 Jul 4, 2026

Q2F26 Results

Q2F26 Guidance

Q3F26 Guidance

Summary GAAP Items

Revenue (in billions) $1.164 $1.110 to $1.150 $1.200 to $1.250

Operating margin 5.3 % 4.9% to 5.3% 4.1% to 4.5%

Diluted EPS $1.82 $1.53 to $1.68 $1.25 to $1.41

Summary Non-GAAP Items (1)

Adjusted operating margin (2) 6.0 % 5.6% to 6.0% 5.9% to 6.3%

Adjusted EPS (3) $2.05 $1.80 to $1.95 $2.02 to $2.18

Return on invested capital (ROIC) 13.8 %

Economic return 4.8 %

(1) Refer to Non-GAAP Supplemental Information tables for additional information regarding non-GAAP financial measures.

(2)

Excludes stock-based compensation expense of approximately 70 bps for Q2F26 results and Q2F26 guidance and 180 bps for Q3F26 guidance.

(3)

Excludes stock-based compensation expense, net of tax, of $0.23 for Q2F26 results, $0.27 for Q2F26 guidance and $0.77 for Q3F26 guidance.

Fiscal Second Quarter 2026 Information

•Won 30 manufacturing programs during the quarter representing a record $355 million in annualized revenue when fully ramped into production.

•Generated free cash flow of $16.0 million.

•Purchased $20.6 million of our shares at an average price of $189.22 per share under our 2026 Share Repurchase Program, leaving $42.0 million available under our existing $100.0 million authorization.

Todd Kelsey, President and Chief Executive Officer, commented, “Our momentum is accelerating broadly. For the fiscal second quarter, we increased revenue significantly year-over-year, delivered record manufacturing wins, expanded our efficiency efforts and generated robust profitability. We produced record revenue of $1.164 billion, which exceeded our guidance range and increased 19% year-over-year with significant contributions from all market sectors. In addition, non-GAAP operating margin of 6.0% met the high end of guidance, while non-GAAP EPS of $2.05 exceeded guidance.”

Mr. Kelsey added, “Our go-to-market team achieved record quarterly manufacturing wins of $355 million in annualized revenue. This included broad-based programs in aerospace and defense, expanded relationships and share gains in surgical and imaging platforms, a new engagement in data center power solutions and continued share gains in semiconductor capital equipment. While achieving this tremendous wins result, we also expanded our funnel of qualified manufacturing opportunities.”

Patrick Jermain, Executive Vice President and Chief Financial Officer, commented, “Our fiscal second quarter cash cycle of 64 days represented a better-than-expected sequential improvement of 5 days, the benefit of continued progress on working capital initiatives and stronger-than-guided revenue. Our favorable cash cycle combined with our strong operating performance produced a fiscal second quarter return on invested capital of 13.8%, which exceeded our cost of capital by 480 basis points. We also delivered $16 million in free cash flow for the fiscal second quarter, a result that surpassed our projections. We are strategically increasing working capital investments in support of accelerating revenue growth, with an expectation to maintain cash cycle days consistent with our recent performance. As a result, we now expect to generate fiscal 2026 free cash flow in the range of $50 to $75 million.”

Mr. Kelsey continued, “We anticipate continued strong performance for our fiscal third quarter from program ramps, improved end-market demand and our sustained focus on operational efficiency. We are guiding revenue of $1.200 to $1.250 billion, representing 5% sequential and 20% year-over-year growth at the midpoint, non-GAAP operating margin of 5.9% to 6.3% and non-GAAP EPS of $2.02 to $2.18.”

Mr. Kelsey concluded, “Plexus’ consistent focus on redefining excellence through our unmatched quality and delivery is shaping our decision-making and sustaining our tremendous momentum. Leveraging this momentum, and our excellent financial performance year to date, we now expect Plexus to deliver mid-teens or greater fiscal 2026 revenue growth, with robust operating performance.”

Quarterly Comparison Three Months Ended

(in thousands, except EPS) Apr 4, 2026 Jan 3, 2026 Mar 29, 2025

Revenue $ 1,163,757 $ 1,069,852 $ 980,170

Gross profit 119,176 106,138 97,751

Operating income 61,837 54,464 48,791

Net income 49,809 41,182 39,073

Diluted EPS $ 1.82 $ 1.51 $ 1.41

Gross margin 10.2 % 9.9 % 10.0 %

Operating margin 5.3 % 5.1 % 5.0 %

ROIC (1) 13.8 % 13.2 % 13.7 %

Economic return (1) 4.8 % 4.2 % 4.8 %

(1) Refer to Non-GAAP Supplemental Information tables for non-GAAP financial measures discussed and/or disclosed in this release, such as adjusted operating margin, adjusted net income, adjusted diluted EPS, ROIC and economic return.

Business Segment and Market Sector Revenue

Plexus measures operational performance and allocates resources on a geographic segment basis. Plexus also reports revenue based on the market sector breakout set forth in the table below, which reflects Plexus’ market sector focused strategy. Top 10 customers comprised 54% of revenue during the second quarter of fiscal 2026. This is up 2 percentage points from the first quarter of fiscal 2026 and up 3 percentage points from the second quarter of fiscal 2025.

Business Segments ($ in millions) Three Months Ended

Apr 4, 2026 Jan 3, 2026 Mar 29, 2025

Americas $ 397 $ 345 $ 295

Asia-Pacific 652 612 587

Europe, Middle East and Africa 116 118 103

Elimination of inter-segment sales (1) (5) (5)

Total Revenue $ 1,164 $ 1,070 $ 980

Market Sectors ($ in millions) Three Months Ended

Apr 4, 2026 Jan 3, 2026 Mar 29, 2025

Aerospace/Defense $ 212 18 % $ 178 17 % $ 172 18 %

Healthcare/Life Sciences 473 41 % 466 43 % 411 42 %

Industrial 479 41 % 426 40 % 397 40 %

Total Revenue $ 1,164 $ 1,070 $ 980

Non-GAAP Supplemental Information

Plexus provides non-GAAP supplemental information, such as ROIC, economic return and free cash flow, because such measures are used for internal management goals and decision-making, and because they provide management and investors with additional insight into financial performance. In addition, management uses these and other non-GAAP measures, such as adjusted operating income, adjusted operating margin, adjusted net income and adjusted diluted EPS, to provide a better understanding of core performance for purposes of period-to-period comparisons. Plexus believes that these measures are also useful to investors because they provide further insight by eliminating the effect of non-recurring items that are not reflective of continuing operations. For additional information on non-GAAP measures, please refer to the attached Non-GAAP Supplemental Information tables.

ROIC and Economic Return

ROIC for the second quarter of fiscal 2026 was 13.8%. Plexus defines ROIC as tax-effected annualized adjusted operating income divided by average invested capital over a three-quarter period for the second fiscal quarter. Invested capital is defined as equity plus debt and operating lease obligations, less cash and cash equivalents. Plexus' weighted average cost of capital for fiscal 2026 is 9.0%. ROIC for the second quarter of fiscal 2026 less Plexus’ weighted average cost of capital resulted in an economic return of 4.8%.

Free Cash Flow

Plexus defines free cash flow as cash flows provided by operations less capital expenditures. For the three months ended April 4, 2026, cash flows provided by operations was $28.5 million and capital expenditures were $12.5 million, which resulted in free cash flow of $16.0 million.

Cash Cycle Days Three Months Ended

Apr 4, 2026 Jan 3, 2026 Mar 29, 2025

Days in Accounts Receivable 55 58 57

Days in Contract Assets 12 13 12

Days in Inventory 120 124 132

Days in Accounts Payable (74) (71) (70)

Days in Advanced Payments (49) (55) (63)

Annualized Cash Cycle (1) 64 69 68

(1) Plexus calculates cash cycle as the sum of days in accounts receivable, days in contract assets and days in inventory, less days in accounts payable and days in advanced payments.

Conference Call and Webcast Information

What:

Plexus Fiscal 2026 Q2 Earnings Conference Call and Webcast

When:

Thursday, April 30, 2026 at 8:30 a.m. Eastern Time

Where:

Participants are encouraged to join the live webcast at the investor relations section of the Plexus website, plexus.com. Participants can also join utilizing the links below:

Webcast link:

https://events.q4inc.com/attendee/177402160

Replay:

The webcast will be archived on the Plexus website and will be available as on-demand for 12 months

Investor and Media Contact

Shawn Harrison

+1.920.969.6325

shawn.harrison@plexus.com

About Plexus

At Plexus, we help create the products that build a better world. Driven by a passion for excellence, we partner with our customers to design, manufacture and service highly complex products in demanding regulatory environments. From life-saving medical devices and mission-critical aerospace and defense products to industrial automation systems and semiconductor capital equipment, our innovative solutions across the lifecycle of a product converge where advanced technology and human impact intersect. We provide these solutions to market-leading as well as disruptive global companies in the Aerospace/Defense, Healthcare/Life Sciences, and Industrial sectors, supported by a global team of over 20,000 members across our 27 facilities. For more information about Plexus, visit our website at www.plexus.com.

Safe Harbor and Fair Disclosure Statement

The statements contained in this press release that are guidance or which are not historical facts (such as statements in the future tense and statements including believe, expect, intend, plan, anticipate, goal, target and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the effects of tariffs, trade disputes, trade agreements and other trade protection measures; the effects of shortages, delays and price fluctuations in obtaining components as a result of economic cycles, capacity constraints, natural disasters or otherwise; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the particular risks relative to new or recent customers, programs or services, which risks include customer and other delays, start-up costs, potential inability to execute, the establishment of appropriate engagement terms, and the lack of a track record of order volume and timing; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the lack of visibility of future orders, particularly in view of changing economic conditions; the economic performance of the industries, sectors and customers we serve; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customers and deliver product on a timely basis; the risks of concentration of work for certain customers; the effects of start-up costs of new programs and facilities or the costs associated with winding down programs or the closure or consolidation of facilities; possible unexpected costs and operating disruption in transitioning programs, including transitions between Company facilities; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by the customer, resulting in an inventory write-off; the fact that customer orders may not lead to long-term relationships; our ability to manage successfully and execute a complex business model characterized by high product mix and demanding quality, regulatory, and other requirements; the outcome of litigation and regulatory investigations and proceedings, including the results of any challenges with regard to such outcomes; the ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; risks related to information technology systems and data security; increasing regulatory and compliance requirements; any tax law changes and related foreign jurisdiction tax developments; current or potential future barriers to the repatriation of funds that are currently held outside of the United States as a result of actions taken by other countries or otherwise; the potential effects of jurisdictional results on our taxes, tax rates, and our ability to use deferred tax assets and net operating losses; the weakness of the economy regionally or globally; the effect of changes in the pricing and margins of our services; raw materials and component cost fluctuations; the potential effect of fluctuations in the value of the currencies in which we transact business; the effects of changes in economic conditions, political conditions and regulatory matters in the United States and in the other countries in which we do business; the potential effect of other events outside our control, such as the conflict between Russia and Ukraine, conflict in the Middle East (including in Iran), escalating tensions between China and Taiwan or China and the United States, tensions in or amongst countries in which we operate or transact business, changes in energy prices, terrorism, global health epidemics and weather events; the impact of increased competition; an inability to successfully manage human capital; changes in financial accounting standards; and other risks detailed herein and in our other Securities and Exchange Commission filings, particularly in Risk Factors contained in our fiscal 2025 Form 10-K.

PLEXUS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

Three Months Ended Six Months Ended

Apr 4, Mar 29, Apr 4, Mar 29,

2026 2025 2026 2025

Net sales $ 1,163,757 $ 980,170 $ 2,233,609 $ 1,956,292

Cost of sales 1,044,581 882,419 2,008,295 1,757,849

Gross profit 119,176 97,751 225,314 198,443

Operating expenses:

Selling and administrative expenses 57,339 48,960 109,013 98,109

Restructuring and other charges, net — — — 4,683

Operating income 61,837 48,791 116,301 95,651

Other income (expense):

Interest expense (3,422) (3,137) (6,310) (6,691)

Interest income 812 871 1,796 2,105

Miscellaneous, net (1,350) (1,502) (2,878) (2,548)

Income before income taxes 57,877 45,023 108,909 88,517

Income tax expense 8,068 5,950 17,918 12,177

Net income

$ 49,809 $ 39,073 $ 90,991 $ 76,340

Earnings per share:

Basic $ 1.86 $ 1.44 $ 3.40 $ 2.82

Diluted $ 1.82 $ 1.41 $ 3.32 $ 2.75

Weighted average shares outstanding:

Basic 26,757 27,109 26,762 27,098

Diluted 27,310 27,662 27,369 27,726

PLEXUS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

Apr 4, Sep 27,

2026 2025

ASSETS

Current assets:

Cash and cash equivalents $ 303,133 $ 306,464

Restricted cash 48 294

Accounts receivable 702,339 656,573

Contract assets 160,382 150,654

Inventories 1,373,732 1,229,839

Prepaid expenses and other 97,569 54,969

Total current assets 2,637,203 2,398,793

Property, plant and equipment, net 535,171 546,052

Operating lease right-of-use assets 68,632 72,863

Deferred income taxes 91,663 91,349

Other assets 28,300 28,053

Total non-current assets 723,766 738,317

Total assets $ 3,360,969 $ 3,137,110

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Current portion of long-term debt and finance lease obligations $ 143,112 $ 45,793

Accounts payable 851,909 726,597

Advanced payments from customers 565,346 575,850

Accrued salaries and wages 90,924 109,076

Other accrued liabilities 60,989 61,367

Total current liabilities 1,712,280 1,518,683

Long-term debt and finance lease obligations, net of current portion 91,034 91,987

Long-term operating lease liabilities 25,769 29,422

Deferred income taxes 5,155 6,000

Other liabilities 36,931 36,430

Total non-current liabilities 158,889 163,839

Total liabilities 1,871,169 1,682,522

Shareholders’ equity:

Common stock 549 547

Additional paid-in-capital 689,909 695,653

Common stock held in treasury (1,298,881) (1,255,451)

Retained earnings 2,087,019 1,996,028

Accumulated other comprehensive income 11,204 17,811

Total shareholders’ equity 1,489,800 1,454,588

Total liabilities and shareholders’ equity $ 3,360,969 $ 3,137,110

PLEXUS CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Six Months Ended

Apr 4, Mar 29,

2026 2025

Cash flows from operating activities

Net income $ 90,991 $ 76,340

Adjustments to reconcile net income to net cash flows from operating activities:

Depreciation and amortization 38,493 38,925

Share-based compensation expense and related charges 15,685 14,771

Other, net (88) (6,125)

Changes in operating assets and liabilities, excluding impacts of currency:

Accounts receivable (47,335) 9,100

Contract assets (9,770) (15,624)

Inventories (145,413) 25,310

Other current and non-current assets (45,965) (240)

Accrued income taxes payable (7,006) (12,390)

Accounts payable 146,673 70,624

Advanced payments from customers (9,945) (95,297)

Other current and non-current liabilities (13,240) (15,064)

Cash flows provided by operating activities 13,080 90,330

Cash flows from investing activities

Payments for property, plant and equipment (47,650) (46,726)

Other, net (29) (28)

Cash flows used in investing activities (47,679) (46,754)

Cash flows from financing activities

Borrowings under debt agreements 384,500 127,000

Payments on debt and finance lease obligations (289,863) (165,202)

Repurchases of common stock (43,430) (25,366)

Payments related to tax withholding for share-based compensation (21,426) (14,527)

Cash flows provided by (used in) financing activities 29,781 (78,095)

Effect of exchange rate changes on cash and cash equivalents 1,241 (2,381)

Net decrease in cash and cash equivalents and restricted cash (3,577) (36,900)

Cash and cash equivalents and restricted cash:

Beginning of period 306,758 347,462

End of period $ 303,181 $ 310,562

PLEXUS CORP. AND SUBSIDIARIES

NON-GAAP SUPPLEMENTAL INFORMATION Table 1

(in thousands, except per share data)

(unaudited)

Three Months Ended Six Months Ended

Apr 4, Jan 3, Mar 29, Apr 4, Mar 29,

2026 2026 2025 2026 2025

Operating income, as reported $ 61,837 $ 54,464 $ 48,791 $ 116,301 $ 95,651

Operating margin, as reported 5.3 % 5.1 % 5.0 % 5.2 % 4.9 %

Non-GAAP adjustments:

Restructuring costs (1) — — — — 4,683

Stock-based compensation 7,922 7,765 7,132 15,687 14,122

Non-GAAP operating income $ 69,759 $ 62,229 $ 55,923 $ 131,988 $ 114,456

Non-GAAP operating margin 6.0 % 5.8 % 5.7 % 5.9 % 5.9 %

Net income, as reported $ 49,809 $ 41,182 $ 39,073 $ 90,991 $ 76,340

Non-GAAP adjustments:

Restructuring costs, net of tax (1) — — — — 4,191

Stock-based compensation, net of tax 6,055 7,377 6,775 13,432 13,415

Adjusted net income $ 55,864 $ 48,559 $ 45,848 $ 104,423 $ 93,946

Diluted earnings per share, as reported $ 1.82 $ 1.51 $ 1.41 $ 3.32 $ 2.75

Non-GAAP per share adjustments:

Restructuring costs, net of tax (1) — — — — 0.15

Stock-based compensation, net of tax 0.23 0.27 0.25 0.50 0.49

Adjusted diluted earnings per share $ 2.05 $ 1.78 $ 1.66 $ 3.82 $ 3.39

(1) During the six months ended March 29, 2025, restructuring costs of $4.7 million, or $4.2 million net of taxes, were incurred primarily for employee severance costs associated with a reduction in the Company’s workforce in the EMEA and AMER regions.

PLEXUS CORP. AND SUBSIDIARIES

NON-GAAP SUPPLEMENTAL INFORMATION Table 2

(in thousands)

(unaudited)

ROIC and Economic Return Calculations Six Months Ended Three Months Ended Six Months Ended

Apr 4, Jan 3, Mar 29,

2026 2026 2025

Operating income, as reported $ 116,301 $ 54,464 $ 95,651

Restructuring and other charges, net + — + — + 4,683

Adjusted operating income $ 116,301 $ 54,464 $ 100,334

x 2 x 4 x 2

Adjusted annualized operating income $ 232,602 $ 217,856 $ 200,668

Adjusted effective tax rate x 17 % x 17 % x 13 %

Tax impact 39,542 37,036 26,087

Adjusted operating income (tax-effected) $ 193,060 $ 180,820 $ 174,581

Average invested capital ÷ $ 1,401,134 ÷ $ 1,374,532 ÷ $ 1,276,742

ROIC 13.8 % 13.2 % 13.7 %

Weighted average cost of capital - 9.0 % - 9.0 % - 8.9 %

Economic return 4.8 % 4.2 % 4.8 %

Average Invested Capital Calculations Apr 4, Jan 3, Sep 27, Jun 28, Mar 29, Dec 28, Sep 28,

2026 2026 2025 2025 2025 2024 2024

Equity $ 1,489,800 $ 1,481,063 $ 1,454,588 $ 1,419,085 $ 1,351,675 $ 1,319,069 $ 1,324,825

Plus:

Debt and finance lease obligations - current 143,112 66,837 45,793 50,678 121,014 121,977 157,325

Operating lease obligations - current (1) 7,758 7,943 8,253 8,470 9,968 14,875 14,697

Debt and finance lease obligations - long-term

91,034 91,139 91,987 92,215 88,761 88,728 89,993

Operating lease obligations - long-term 25,769 27,327 29,422 31,192 32,720 35,124 32,275

Less: Cash and cash equivalents (303,133) (248,825) (306,464) (237,567) (310,531) (317,161) (345,109)

$ 1,454,340 $ 1,425,484 $ 1,323,579 $ 1,364,073 $ 1,293,607 $ 1,262,612 $ 1,274,006

(1) Included in other accrued liabilities on the Condensed Consolidated Balance Sheets.

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Plexus Announces Planned Chief Financial Officer Transition

NEENAH, WI – April 29, 2026 - Plexus Corp. (NASDAQ: PLXS) announced today that Patrick Jermain, Executive Vice President and Chief Financial Officer (CFO), has elected to retire after a distinguished 15-plus year career at Plexus, including 12 years as CFO.

As part of a disciplined succession planning process, Plexus’ Board of Directors has appointed David Abuhl to succeed Mr. Jermain as Senior Vice President and Chief Financial Officer, effective May 11, 2026. Mr. Abuhl currently serves as Plexus’ Senior Vice President-Finance and is a member of the Company’s Leadership Team. To ensure a seamless transition, Mr. Jermain will remain employed by the Company and serve in an advisory role until July 31, 2026.

Todd Kelsey, Plexus’ President and Chief Executive Officer, commented, “Pat has been an exceptional partner, and I am thankful for his 15 years of dedication to Plexus. His leadership, integrity and commitment to Plexus’ success have been instrumental in our growth journey. Pat’s legacy includes fostering a high-performance and high-integrity finance culture, cultivating a tenured finance leadership team with advanced skillsets and propelling Plexus to deliver higher levels of efficiency with tremendous financial results.”

Mr. Kelsey continued, “David has made an immediate impact since joining Plexus and our Leadership Team in September 2025. His extensive financial expertise, coupled with his passion for building high-performing teams, makes him the ideal leader to guide our finance organization. I am confident that his global perspective and strategic mindset will be significant assets as we continue with our growth journey.”

Prior to joining Plexus, Mr. Abuhl spent over 15 years at Kimberly-Clark Corporation in various leadership roles across finance, treasury and investor relations. He most recently served as CFO-Enterprise Supply Chain, with financial oversight of approximately $14 billion in cost of goods sold. His previous experience includes serving as EMEA Finance Director and CFO for Kimberly-Clark Professional, a business-to-business division spanning approximately 70 countries. Mr. Abuhl holds a Masters of Business Administration from the SMU Cox School of Business and a Bachelor of Arts degree in Business and Economics from Wheaton College.

Investor and Media Contact

Shawn Harrison

+1.920.969.6325

shawn.harrison@plexus.com

About Plexus Corp.

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PLEXUS CORP.

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Entity File Number

001-14423

Entity Tax Identification Number

39-1344447

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- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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No definition available.

+ Details

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dei_DocumentInformationLineItems

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- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

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No definition available.

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dei_DocumentPeriodEndDate

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xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

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No definition available.

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Name:

dei_DocumentType

Namespace Prefix:

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Data Type:

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- Definition

Address Line 1 such as Attn, Building Name, Street Name

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No definition available.

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Namespace Prefix:

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- Definition

Name of the City or Town

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No definition available.

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Namespace Prefix:

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Balance Type:

Period Type:

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- Definition

Code for the postal or zip code

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No definition available.

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Namespace Prefix:

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- Definition

Name of the state or province.

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No definition available.

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Name:

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Namespace Prefix:

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- Definition

Title of a 12(b) registered security.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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Data Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

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Balance Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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