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Investor UpdateMarch 17, 2020

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This press release contains forward-looking statements within the meaning

of Section 27A of the Securities Act of 1933 and Section 21E of the

Securities Exchange Act of 1934. The words “expect,” “estimate,”

“anticipate,” “could” “predict” and similar expressions, and the negatives

thereof, often identify forward-looking statements, which are not limited to

historical facts. Forward-looking statements include, among other things,

guidance for first quarter 2020 results; statements, express or implied,

concerning future operating results or margins, the ability to generate sales

and income or cash flow, and expected revenue mix; and Benchmark’s

business and growth strategies. Although Benchmark believes these

statements are based upon reasonable assumptions, they involve risks and

uncertainties relating to operations, markets and the business environment

generally. If one or more of these risks or uncertainties materializes, or

underlying assumptions prove incorrect, actual outcomes may vary

materially from those indicated. Readers are advised to consult further

disclosures on these risks and uncertainties, particularly in Part 1, Item 1A,

“Risk Factors”, of the Company’s Annual Report on Form 10-K for the year

ended December 31, 2019 and in Part II, Item 1A, “Risk Factors” in the

Company’s Quarterly Report on Form 10-Q for the quarter ended

September 30, 2019, and in its subsequent filings with the Securities and

Exchange Commission. All forward-looking statements included in this

document are based upon information available to the Company as of the

date of this document, and it assumes no obligation to update them.

.

This document includes certain financial measures that exclude items and

therefore are not in accordance with U.S. generally accepted accounting

principles (“GAAP”). A detailed reconciliation between GAAP results and

results excluding special items (“non-GAAP”) is included in the Appendix of

this document. Management discloses non‐GAAP information to provide

investors with additional information to analyze the Company’s performance

and underlying trends. Management uses non‐GAAP measures that exclude

certain items in order to better assess operating performance and help

investors compare results with our previous guidance. This document also

references “free cash flow”, which the Company defines as cash flow from

operations less additions to property, plant and equipment and purchased

software. The Company’s non‐GAAP information is not necessarily

comparable to the non‐GAAP information used by other

companies. Non‐GAAP information should not be viewed as a substitute

for, or superior to, net income or other data prepared in accordance with

GAAP as a measure of the Company’s profitability or liquidity. Readers

should consider the types of events and transactions for which adjustments

have been made.

Forward-Looking Statements Non-GAAP Financial Information

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Contents

• Coronavirus Updates

• Benchmark Profile and Portfolio Strategy

• Selling the Full Breadth of Benchmark Capabilities

• Key Strategic Initiatives

• Why Benchmark?

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Covid-19 Update

• Temporary shut down of plant in Suzhou China; plant returned to operations 5 weeks ago and is

now fully operational

• Global impacts from supply chain and logistics disruptions from Asian suppliers to a number of

Benchmark locations

• Manufacturing operations impacts from government regulations and the ability for employees to

travel to the work place

Announced on March 16, 2020, we will not achieve first quarter guidance set on

February 6, 2020 due to COVID-19 impacts from:

• Focus remains on the health and safety of our employees and ecosystem

• Benchmark is financially strong to weather this event

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COVID-19 Update

Executive engagement

Critical order prioritization

Alternative manufacturing

scenarios

Logistic channel

substitutions

Focus on Engagement

and Communications

Customers

Benchmark Ecosystem Focus Areas:

Facility cleaning guidelines

and protective gear

Quarantine protocols

Social distancing

Restricted visitor and travel

policies

Employee policy updates (sick

leave, flexible work, etc.)

Global Task Force Meets

Daily Focused on Employee

Safety

Employees

Expediting components

from Asian factory restarts

Lead time management

Site balancing global

materials

Monitoring logistics costs

and delivery times

Integrated Supply Chain Team

Focused on Improving Supply

Suppliers

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Who is Benchmark? Spinoff of a Medical OEM

Founded:

1979

Stock Symbol:

NYSE: BHE

Employees:

~12,000

Locations:

8 countries

Sales Mix:

53% United States

47% International

HQ – Tempe, AZ

Grand Opening

Jan. 2019

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Who is Benchmark? Leading Global Provider of Services & Solutions

SERVESSix Primary End Markets

BENEFITSFrom Four Secular Trends

EMPHASISOn Four Strategic Initiatives

FOCUSfor Value Creation

Medical

Aerospace & Defense

Semi-Cap

Industrial

High-End Computing

Telecommunications

Aging Population

Growing Defense Spending

Optimize Go-to-Market

Centralize G&A

Drive Operational Efficiencies

Accelerate Engineering & Solutions

Higher-Value Portfolio >75%

EPS Growth Faster than Revenue

Continued Focused Capital Allocation

Improving ROIC

High-Speed Bandwidth

Recovery in Semi-Cap Spending

Traditional MarketsHigher-Value Markets

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Rochester, MN

Suzhou, China

Brasov, Romania

Nashua, NH

Angleton, TXTijuana, MexicoMoorpark, CA

Concord, CA

Ayudhaya, ThailandKorat, Thailand

Huntsville, AL

Guadalajara, Mexico

Fremont, CA

Santa Ana, CA

Tempe, AZ

Penang, Malaysia

Product Design & Engineering

Technology Solutions

Electronics Manufacturing

Precision Technologies

Corporate Headquarters

Almelo, The Netherlands

>50% Capacity in the U.S.

Austin, TX

Arden Hills, MN

Winona, MN

Phoenix, AZ

Where is Benchmark? 26 Locations in 8 Countries (12,000 employees)

Engineering Services on 3 Continents

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How is the Industry Changing? Higher-value Markets and Services

EMS

Market Size

Computing Higher Value

Telco

Computing Higher Value

Telco Consumer

• Labor Arbitrage

1990

• Labor Arbitrage

• Supply Chain

• Global Scale

2000

• Labor Arbitrage

• Supply Chain

• Global Scale

• Design

2010

Value

Proposition

Computing Higher Value

Telco Consumer

~$500B (est.)

• Labor Arbitrage

• Supply Chain

• Global Scale

• Concept to Design

• Increase in Outsourcing in

Higher-value Markets

• Differentiated Technology

Solutions

2020

Source: New Venture Research, Benchmark Analysis

Computing Higher Value

Telco Consumer

Era of

Computing/Telco

Outsourcing

Emergence of

Consumer

Electronics

Growth in

Higher-Value

Outsourcing

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• Larger, more cyclical programs

• Manufacturing only – less engineering

Traditional Market Revenue ($M)

Higher-value Market Revenue ($M)

Portfolio Strategy: Continued Focus on Higher-value Markets

Divested Lower-margin Traditional$1,983

$1,384

$846$65668%

50%35% 29%

10.0%

30.0%

50.0%

70.0%

90.0%

110.0%

130.0%

150.0%

170.0%

190.0%

0

500

1,000

1,500

2,000

2007 2014 2017 2019 Target

$933

$1,413$1,608 $1,612

32% 50%65%

71%

10.0%

30.0%

50.0%

70.0%

90.0%

110.0%

130.0%

150.0%

170.0%

190.0%

0

500

1,000

1,500

2,000

2,500

3,000

2007 2014 2017 2019 Target

25%

75%

• High-mix/lower-volume skills

• Engineering-led engagements

• Higher value-added services and solutions

Acquired Higher-value Programs

• 2007 Gross Margins 6.8%

• 2019 Gross Margins 8.8%

Expanded Non-GAAP Gross Margins 200 bps

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What are Benchmark’s Capabilities? Leading Global Provider of Services & Solutions

Design &

Engineering Services

Manufacturing

Services

Technology

Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Our Goal is to Sell the Full Breadth of Capabilities To Our Targeted Customers

Traditional

EMS

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Higher-value Sectors : Selling the Full Breadth of Capabilities

• Ruggedized Computing

• Ground Vehicles and Aircraft

• Munitions

• Secure Communications

• Jet Engine Components

2019

Revenue

Key

Subsectors

Customers

$432 million

SectorAerospace &

Defense (A&D)

• Imaging Products

• Monitoring Devices, Pumps

Infusion and Glucose

• In Vitro Diagnostics

• Medical Robotics

$448 million

Medical

• Front End Fab Processes:

‒ Lithography

‒ Deposition

‒ Etch & Annealing

• In-Chamber Wafer Processes

$278 million

Semi-cap

• Process Controls

• Ruggedized Transport

• Lidar Applications

• Robotics

• Oil & Gas

$454 million

Industrial

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Customer Case Study: Selling the Full Breadth of Capabilities

• Account Size $20M in annual revenue

• Gross Margin % Below corporate average

• Offerings Electronics Manufacturing & Test Dev. only

Original State:

Customer: One Large Multi-national A&D Customer

Utilized

• Account Size +$100M in potential annual revenue

• Gross Margin % Above corporate average

• Offerings Full breadth of capabilities

Current State:

Technology Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Engineering Services Manufacturing Services

Technology Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Engineering Services Manufacturing Services

IP Building

Block Design

RF

Components

Process/Test Development

Precision

Technologies

Electronics

Manufacturing

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• Account Size <$5M in annual revenue

• Offerings Full Product Design Services

Customer Case Study: Engineering to Manufacturing Engagement

Original State:

Customer:

Utilized

• Account Size +$50M in potential annual revenue

• Offerings Design to EMS including Process/Test Dev.

Current State:

Technology Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Engineering Services Manufacturing Services

Technology Solutions

Electronics

Manufacturing

Full Product Design Services

IP Building

Block Design

Precision

Technologies

Process/Test Development

RF

Components

Engineering Services Manufacturing Services

Press Release (Jan. 2020):

Dr. Marc Sesterhenn, Executive Vice President Operations at Rohde & Schwarz, said: “As an existing Benchmark engineering services customer, we were very familiar with Benchmark’s capabilities, global footprint and technical expertise. That is why we chose Benchmark, which can manufacture and deliver our complex products quickly and with the customary high quality according to our own and our customers' requirements.”

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Traditional Sectors : Focus on Complexity

• High-Performance Computing

• Secure Computing

• Data Center Storage

2019

Revenue

Key

Subsectors

Customers

$361 million

Sector Computing

• Satellite Communications

• Microwave Systems

• High-speed Optics

• Next Generation Telco – 5G

$295 million

Telco

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Key Strategic Initiatives

Change the relationship with our

customers; differentiate with

technology

Revenue at the right target

margin profile

Focus on the Customer

Be the best at what we do

Effective asset utilization and

margin expansion

Drive Enterprise Efficiencies

Invest in People, Process, and

Solutions

Revenue growth and margin

expansion

Growing our Business

Drive empowerment,

accountability, and ownership

High functioning teams in a

great workplace

Engage Talent and Shift Culture

© 2020 Benchmark Electronics, Inc.| 17

Capital Allocation Update

Dividends

► Recurring quarterly dividend of $0.15 per share declared

► First dividend paid in April 2018

► Dividend of $5.5 million paid in January 2020

► Increased dividend from $0.15 to $0.16 per share in February 2020

Share repurchases

► $212 million shares repurchased in 2018

► $122 million share repurchases completed in 2019

► Remaining authorization of $79 million at December 31, 2019

► Additional $150 million was authorized in February 2020

© 2020 Benchmark Electronics, Inc.| 18

Takeaways

Why Consider Benchmark?

► OEMs continue to drive outsourcing strategy – expanding market

► Strong market position in High Value Growth sectors

► Unique technology and solution capabilities (RF technology, Micro-e, Semi-cap)

► Value added capabilities increase gross margins

► New leadership focused on Operational Excellence

► Business model leverage with revenue growth

► Returning capital to shareholders through share buybacks and quarterly dividends

© 2020 Benchmark Electronics, Inc.| 19

Q & A

Benchmark, the partner you choose When it matters.

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Appendix 1: GAAP to Non-GAAP Reconciliations

1 Equals line item immediately above divided by revenue (GAAP)