A Technology Solutions and
Business Services Company
Stifel Technology Conference
June 5, 20171
Safe Harbor StatementStatements in this presentation regarding SYNNEX Corporation which are not historical facts may be
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. These forward-looking statements may be identified by terms
such as believe, expect, may, will, provide, could and should and the negative of these terms or other
similar expressions. These forward-looking statements include, but are not limited to, statements regarding
our business strategy, our investments, our growth, shareholder return, margins, revenues, technology
trends and IT market growth, IoT spending and installs growth, CRM BPO market and growth, our mix shift
to higher margin technology platforms and services, Hyve Solutions and BPO Customer Care adjacent
market growth, core organic growth beyond market growth in Technology Solutions and Concentrix-
focused verticals, our product and service features and capabilities, our target revenue growth range, our
target adjusted operating margin and our financial goals.
These are subject to risks and uncertainties that could cause actual results to differ materially from those
discussed in the forward-looking statements. Please refer to the documents filed with the Securities and
Exchange Commission, specifically our most recent Form 10-K and Form 10-Q, for information on risk
factors that could cause actual results to differ materially from those discussed in these forward looking
statements. Statements included in this presentation are based upon information known to SYNNEX
Corporation as of the date of presentation and SYNNEX Corporation assumes no obligation to update
information contained in this presentation.
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© 2017, SYNNEX Corporation. All rights reserved.
Facts About SYNNEX
2016
Ranked
No. 212
Consecutive,
Profitable
Quarters!
Operate
throughout
North and South
America, Asia-
Pacific and
Europe.
5-Year
CAGR 6.2%>100,000
ASSOCIATES
CELEBRATING
119as of February 28, 2017
2016REVENUE
>$14 B
NYSE: SNX
3
© 2017, SYNNEX Corporation. All rights reserved.
• A new paradigm for scale
computing, with purpose-
built, large scale data center
solutions
• Hyperscale Factories in the
US and UK
The World’s Largest Data
Center Customers
• Web 2.0/Social Media,
Finance, Entertainment
Design and Deliver Custom, Purpose-Built Servers, Storage, Switches
• Efficient Design, Large Scale and Worldwide Deployment
• Focused Footprint in the US, Canada and Japan
• Represent over 300 of the World’s Leading IT and CE Manufacturers
• 20,000+ Reseller and Retail Customers
Efficient Deployment of Technology and CE Products and Services through Volume and Value-Add Distribution
• 100,000 Associates Worldwide
• 6 Continents
• 40+ Languages
• Among Top 5 Global Business
Services Companies
Priority Verticals: Healthcare and Pharmaceuticals, Banking and Financial Services, Insurance, and Consumer Electronics and Technology
Deliver High-Value Business Services and Solutions for the Customer Relationship Lifecycle
SYNNEX Today
All End Markets, including Public
Sector, Corporate & Enterprise,
SMB and Consumer through
Value Added Resellers and
Retailers
IT Distribution
Markets We Serve
What We Do
What We Look Like
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© 2017, SYNNEX Corporation. All rights reserved.
SYNNEX Technology
Solutions
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© 2017, SYNNEX Corporation. All rights reserved.
Technology Solutions: $12.8 Billion Business
FOCUSED
MARKETS
DIVISIONS
END MARKETS SERVED
SMB35-40%
Consumers15-20%
Public Sector30-35%
Enterprise20-25%
• Resellers
• VARs
• MSPs
• CSPs
• DMRs
• System
Integrators
Business
Sector
Resellers
CE Retailers
• Food &
Drug
• Military
• Broadcast
• Retailers
• E-Tailers
• Big Box
6© 2017, SYNNEX Corporation. All rights reserved.
Growth is in 3rd Platform Technologies
2nd PLATFORM
3rd PLATFORM
Emerging
Distribution Model
1. Cloud Computing
2. Enterprise Mobility
3. Big Data & Analytics
4. Consumer Technology
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© 2017, SYNNEX Corporation. All rights reserved.
IoT spending will grow from $692.6 billion in 2015 to $1.46 trillion in 2020 with a CAGR of 16.1%. The install
base of IoT endpoints will grow from 12.1 billion in 2015 to more than 30 billion devices in 2020.
Source: IDC – Worldwide Internet of Things Forecast Update 2016-2020, May 2016
Cloud Computing
Everything-as-a-Service
Infrastructure & Business Continuity
Security
Professional Services
PaaS SaaSIaaS
Big Data
Data Warehousing
Professional Services
Business Intelligence
Predictive and Applied Analytics
Data Center Infrastructure
Consumer Technology
Home Automation
Wearables
Home Healthcare
Entertainment
SYNNEX Invests in Growth Technologies
Personal Devices
M2M
Connectivity
Solutions
Security
Device
Management
EnterpriseMobility
Internet of Things Driving Growth
8© 2017, SYNNEX Corporation. All rights reserved.
© 2017, SYNNEX Corporation. All rights reserved.
SYNNEX’ Comprehensive Cloud Strategy
End-to-end Platform, XaaS, Subscription-Based Deployment into SMB
• Marketplace
• Community
• Applications
• Infrastructure
• Electronic Software
Download
Enabling Private and
Hybrid on Premise
Cloud-Based
Architecture
• Ability to Burst to the Public Cloud
• OpenStack Cloud Computing Platform
• IaaS
• Utility Finance
ENTERPRISE HYPERSCALE COMPUTING
Building out the
Hyperscale Datacenter
with Custom Built,
Energy Efficient
Solutions
• Open Compute Project
• High-Performance Computing
• Design & Integration Capabilities
SMALL-TO-MEDIUM BUSINESSES
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Multi-Faceted
Corporate, Commercial,
Consumer, Cloud,
Services Value-Added
Distributor
*$12.8B RevenueAdj. Op. Margin: 2.59%
Commercial Desktop,
Peripheral & Component Distributor
$5B Revenue Adj. Op.
Margin: 1.62%
• Growth in Changing Environment
• Investments in Where Markets are Headed
• Solid Base for Next Step-Up
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*Trailing 12 months ended February 28, 2017.
Technology SolutionsGrowth and Diversification through Organic Investments and Acquisition
© 2017, SYNNEX Corporation. All rights reserved.
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© 2017, SYNNEX Corporation. All rights reserved.
Concentrix At-A-Glance
12© 2017, SYNNEX Corporation. All rights reserved.
Priority Industry Verticals and Service Offerings
Banking andFinancial Services
Payer (Member)
Support
Provider Service
Policy
Management
Enrollment
Services
Claims Auditing
& Payments
Consumer Electronics and
Technology
Collections &
Debit
Management
Risk Management
& Compliance
Credit Card
Processing
Payment
Services
Customer
Acquisition
Life & Health
Policy
Administration
Policy Issuance
Claims
Adjudication
Payment
Processing
Benefit Payments
Technology Platforms
Analytics
Consulting/Transformation
Digital Customer Engagement
Insurance
Digital
Production &
Marketing
Channel
Optimization
Loyalty
Management
Customer
Experience
Management
Acquisition &
Upsell Support
Development &
Use of Telematics
To Provide
Improved
Business
Solutions
Enabling Dealer
Channel Data To
Connect With Auto
Manufacturers,
Dealers &
Customers
Technical &
Customer Support
AutomotiveHealthcare & Pharmaceuticals
13© 2017, SYNNEX Corporation. All rights reserved.
Service
Optimization
Revenue
Generation
Customer
Experience
DIGITAL CUSTOMER ENGAGEMENT
CUSTOMER CARE AND TECHNICAL SUPPORT
TECHNOLOGY AND ADVANCED ANALYTICS
CONSULTING AND DESIGN THINKING
FRONT OFFICE BACK OFFICE
CustomerPriorities
EnterprisePriorities
• Brand Awareness
• Profit
• Growth
• Stakeholder Value
• Employee
Satisfaction
• Community
Involvement
CUSTOMER LIFECYCLE MANAGEMENT
LOYALTY PROGRAMS AND PRODUCT RENEWALS
CONNECTED CUSTOMER ENABLEMENT
PROCESS OPTIMIZATION AND AUTOMATION
MARKETING OPTIMIZATION
LEAD GENERATION AND MARKETING EXECUTION
End-to-End Customer Engagement SolutionsHolistic approach across front and back office to improve the customer experience and drive higher value for our clients
• Positive
Experience
• Minimal Level
of Effort
• Meets
Expectations
• Personalized
• Value Received
14© 2017, SYNNEX Corporation. All rights reserved.
Annualized revenue for Concentrix is approximately $1.9 billion, including recent
acquisition of Minacs on August 1, 2016.
*Trailing 12 months ended February 28, 2017
ConcentrixTransformation from Niche ServiceOfferings to Global High Value Innovator
• Consultative Approach
• Extensive Domain Expertise
• Deep Relationships
Revenue$7M
15
Top Ten BPO CRM Service Provider
*$1.7B RevenueAdj. Op. Margin: 8.67%
© 2017, SYNNEX Corporation. All rights reserved.
CRM BPO Large and Growing Market
$61 $64 $67
$70 $73
$77 $172 $178
$188 $197
$208 $219
$0
$50
$100
$150
$200
$250
2015 2016 2017 2018 2019 2020
Non-CRM CRM
IDC Market Summary
• CRM approximately $64B market
• Growth expected
approximately 4.6% CAGR
• Large players consolidating the
market through recent M&A
• BPO market approximately
$178B to $188B represents
adjacent growth opportunities
• BPO grow expected at
4.9% CAGR
Source: IDC Worldwide and U.S. Business Process
Outsourcing Services Forecast, 2016-2020, April 2016.
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IDC Worldwide BPO Market
Billions
© 2017, SYNNEX Corporation. All rights reserved.
Financials
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© 2017, SYNNEX Corporation. All rights reserved.
Contribution from Business Segments – LTM 2017Concentrix Adjusted Operating Income is 31% of SYNNEX Adjusted Operating Income
Concentrix$1.7B
Revenue Adjusted Operating Income(1)
Technology Solutions
$12.8BConcentrix
$149MTechnologySolutions
$331M
LTM is the last twelve months ended February 28, 2017.
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of Non-
GAAP Measures and reconciliation such measures to GAAP.
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© 2017, SYNNEX Corporation. All rights reserved.
Revenue Growth ($M) Adjusted Operating Margin(1)
LTM is the last twelve months ended February 28, 2017.
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.
Strong Performance Due To Effective Pursuit of
Initiatives In Focus Growth Areas In Both Segments
$10,845
$13,840$13,338
$14,062 $14,457
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
2013 2014 2015 2016 LTM 2017
2.37%
2.94%3.14% 3.20% 3.32%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
2013 2014 2015 2016 LTM 2017
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© 2017, SYNNEX Corporation. All rights reserved.
Technology Solutions
Revenue Growth ($M) Adjusted Operating Margin(1)
$10,666
$12,756
$11,937
$12,491
$12,753
$9,500
$10,000
$10,500
$11,000
$11,500
$12,000
$12,500
$13,000
2013 2014 2015 2016 LTM 2017
2.26%2.42%
2.56% 2.55% 2.59%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
2013 2014 2015 2016 LTM 2017
Higher Margin Investments in SYNNEX Cloud Strategy Generating
Revenue and Margin Expansion
LTM is the last twelve months ended February 28, 2017.
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.
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© 2017, SYNNEX Corporation. All rights reserved.
Concentrix
Revenue Growth ($M) Adjusted Operating Margin(1)
Strategic Acquisitions and Investment in Key Growth Verticals
Uniquely Positions Concentrix on a Global Basis
$189
$1,096
$1,417
$1,588$1,721
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
2013 2014 2015 2016 LTM 2017
8.28%
8.86%
8.00%
8.27%
8.67%
7.40%
7.60%
7.80%
8.00%
8.20%
8.40%
8.60%
8.80%
9.00%
2013 2014 2015 2016 LTM 2017
LTM is the last twelve months ended February 28, 2017.
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.
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© 2017, SYNNEX Corporation. All rights reserved.
(1)Refer to Appendix for calculation.(2)Total liquidity at February 28, 2017 is calculated as the sum of our cash and cash
equivalents, short-term investments and the unused portion of our available borrowing
facilities including any accordion features thereon.(3)Approximate dollar value of shares that may yet be purchased under the Program
Strong Balance Sheet Creates Financial Flexibility
As of February 28, 2017
Cash, Cash Equivalents, Short-Term Investments $219M
Working Capital Velocity(1) 8X
Total Liquidity(2) $1.1B
Total Borrowings $1.0B
Debt to Capitalization(1) 33.1%
Dividend Yield (Annualized)(1) 0.8%
3-Year $100 million Share Repurchase Program(3) $84M
22© 2017, SYNNEX Corporation. All rights reserved.
Adjusted EBITDA Growing at a Faster Rate than Revenues
Adjusted EBITDA(1) ($Millions)
Five Year CAGR 2011-2016 of 12.9%
$274
$443 $468
$516
$551
$0
$100
$200
$300
$400
$500
$600
2013 2014 2015 2016 LTM 2017
LTM is the last twelve months ended February 28, 2017.
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.23
© 2017, SYNNEX Corporation. All rights reserved.
SYNNEX:Focused on the Future
24© 2017, SYNNEX Corporation. All rights reserved.
Deeper Penetration of
CNX in Priority High
Margin Verticals
Hyve Solutions
Leverage Scale in
TS and CNX to Drive
More Efficiency
Continued
Optimization of
Core Businesses
Continued Mix Shift
to Higher Margin
Technology Platforms
and Services
Adjacent Market Growth –
Hyve Solutions, BPO
beyond Customer Care
Core Organic Growth
beyond Market Growth
in TS and CNX
Focused Verticals
Emerging
Technologies–
Third Platform/IoT/
Services and CNX
Proprietary Platforms
Continued Growth and Margin Expansion
25© 2017, SYNNEX Corporation. All rights reserved.
Target Revenue Growth Range Target Adjusted Operating Margin
Underlying Financial Goals: Grow EPS Faster than Revenue Growth
ROIC Consistently Higher than WACC
Shareholder Return Superior to our Peers and in Top Tier of Public Companies
0
1
2
3
4
5
6
7
8
9
10
11
12
TechnologySolutions
Concentrix Consolidated
12%
11%
10%
9%
8%
7%
6%
5%
4%
3%
2%
1%
0 0
1
2
3
4
5
6
7
8
9
10
11
12
TechnologySolutions
Concentrix Consolidated
12%
11%
10%
9%
8%
7%
6%
5%
4%
3%
2%
1%
0
+20 to 60 bps
Outlook through FY 2017
26© 2017, SYNNEX Corporation. All rights reserved.
Investment Highlights
Seasoned Management with In-Depth Industry Experience
Strong Track Record of Revenue Growth, Margin Expansion and Strategic Investments
Superior Total Shareholder Return
Customer-Centric Business Strategy Focused on Growth Markets
Recognized Leadership in Customer Care BPO and Technology Distribution
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© 2017, SYNNEX Corporation. All rights reserved.
Appendix
28
© 2017, SYNNEX Corporation. All rights reserved.
Use of Non-GAAP Financial Measures
To supplement the financial results presented in accordance with GAAP, SYNNEX uses Adjusted operating
income, Adjusted operating margin, and Adjusted Earnings Before Interest, Taxes, Depreciation and
Amortization ("EBITDA"), which are non-GAAP financial measures that exclude the amortization of
intangible assets, restructuring costs, acquisition-related and integration expenses and the related tax
effects thereon. These non-GAAP measures provide investors with an additional tool to evaluate operating
results. Because these non-GAAP measures are not calculated in accordance with GAAP, they may not
necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP
financial measures should not be considered in isolation or as a substitute for the comparable GAAP
measures, and should be read only in conjunction with the Company's consolidated financial statements
prepared in accordance with GAAP.
SYNNEX management uses the non-GAAP financial measures internally to understand, manage and
evaluate the business, to establish operational goals, and in some cases for measuring performance for
compensation purposes. SYNNEX management believes it is useful for the company and investors to
review, as applicable, both GAAP information, and the non-GAAP measures in order to assess the
performance of SYNNEX’ continuing businesses and for planning and forecasting in future periods. These
non-GAAP measures are intended to provide investors with an understanding of SYNNEX’ operational
results and trends that more readily enable investors to analyze SYNNEX' base financial and operating
performance and to facilitate period-to-period comparisons and analysis of operational trends. The
management of SYNNEX believes the non-GAAP financial measures are useful to investors in allowing for
greater transparency with respect to supplemental information used by management in its financial and
operational decision-making. A reconciliation of SYNNEX’ non-GAAP financial information to GAAP is set
forth in the supplemental information table at the end of this presentation.
29
© 2017, SYNNEX Corporation. All rights reserved.
Definition of Non-GAAP Financial Measures
Non-GAAP financial measures included in this presentation are:
Adjusted operating income, which is operating income as adjusted to
exclude acquisition-related and integration expenses, restructuring costs
and the amortization of intangible assets.
Adjusted operating margin, which is Adjusted operating income as defined
above, divided by Revenue.
Adjusted EBITDA, which is Adjusted operating income as defined above,
plus depreciation.
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© 2017, SYNNEX Corporation. All rights reserved.
Reconciliation of GAAP to Non-GAAP Financial Measures
(Amounts in Thousands)
LTM
2011 2012 2013 2014 2015 2016 as of February 28, 2017
Consolidated
Revenue 10,409,840$ 10,285,507$ 10,845,164$ 13,839,590$ 13,338,397$ 14,061,837$ 14,457,084$
Operating Income 256,228$ 255,012$ 240,828$ 308,507$ 354,552$ 379,596$ 405,729$
Acquisition-related and other integration expenses - - 8,394 43,036 10,109 10,393 10,002
Restructuring Charges - - - - - 4,255 4,255
Amortization of intangibles 7,584 8,289 7,953 55,161 54,756 55,490 60,273
Adjusted operating income 263,812$ 263,301$ 257,175$ 406,704$ 419,417$ 449,734$ 480,259$
Depreciation expense 17,089 16,341 16,509 36,538 48,754 65,803 70,789
Adjusted EBITDA 280,901$ 279,642$ 273,684$ 443,242$ 468,171$ 515,537$ 551,048$
Operating margin 2.46% 2.48% 2.22% 2.23% 2.66% 2.70% 2.81%
Adjusted operating margin 2.53% 2.56% 2.37% 2.94% 3.14% 3.20% 3.32%
Technology Solutions
Revenue 10,289,877$ 10,135,795$ 10,666,215$ 12,755,514$ 11,936,660$ 12,490,718$ 12,752,507$
Operating income 246,610$ 248,924$ 237,290$ 305,499$ 302,950$ 315,485$ 328,235$
Amortization of intangibles 4,038 3,882 3,912 3,538 2,630 2,657 2,660
Adjusted operating income 250,648$ 252,806$ 241,202$ 309,037$ 305,580$ 318,142$ 330,895$
GAAP operating margin 2.40% 2.46% 2.22% 2.40% 2.54% 2.53% 2.57%
Adjusted operating margin 2.44% 2.49% 2.26% 2.42% 2.56% 2.55% 2.59%
Concentrix
Revenue 127,026$ 159,522$ 189,463$ 1,096,214$ 1,416,670$ 1,587,736$ 1,721,208$
Operating income 9,618$ 6,376$ 3,249$ 2,455$ 51,127$ 63,877$ 77,332$
Acquisition-related and other integration expenses - - 8,394 43,036 10,109 10,393 10,002
Restructuring Charges - - - - - 4,255 4,255
Amortization of intangibles 3,546 4,407 4,041 51,623 52,126 52,833 57,613
Adjusted operating income 13,164$ 10,783$ 15,684$ 97,114$ 113,362$ 131,358$ 149,202$
GAAP operating margin 7.57% 4.00% 1.71% 0.22% 3.61% 4.02% 4.49%
Adjusted operating margin 10.36% 6.76% 8.28% 8.86% 8.00% 8.27% 8.67%
Fiscal year ended November 30,
31
© 2017, SYNNEX Corporation. All rights reserved.
Calculation of Financial Metrics(Amounts in Thousands, except per share amounts)
as of Feburary 28, 2017
Working Capital Velocity
Revenue (last twelve months) (a) 14,457,084$
Average working capital
Accounts receivable (last 5-quarters average) (b) 1,626,125$
Inventories (last 5-quarters average) (c) 1,563,171
Accounts payable (last 5-quarters average) (d) (1,468,567)
Average working capital (e)=(b)+(c)+(d) 1,720,729$
Working Capital Velocity (f)=(a)/(e) 8X
Debt to Capitalization
Total borrowings, excluding book overdraft (g) 1,006,485$
Total equity (h) 2,038,219
Debt to capitalization (i)=(g)/((g)+(h)) 33.1%
Dividend Yield (Annualized)
Per share dividend declared in the last twelve months (j) 0.90$
Stock price (k) 116.92
Dividend yield (annualized) (l)=(j)/(k) 0.8%
The following table presents the calculation for working capital velocity, debt to capitalization ratio and dividend yield
(Annualized).
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© 2017, SYNNEX Corporation. All rights reserved.