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1Q 2016 Highlights and Operating Results

1

2© 2016 Anixter Inc.

Safe Harbor Statement

The statements in this release other than historical facts are forward-looking statements made in reliance upon the safe harbor of the Private SecuritiesLitigation Reform Act of 1995. These forward-looking statements are subject to a number of factors that could cause our actual results to differmaterially from what is indicated here. These factors include but are not limited to general economic conditions, the level of customer demandparticularly for capital projects in the markets we serve, changes in supplier relationships or in supplier sales strategies or financial viability, risksassociated with the sale of nonconforming products and services, political, economic or currency risks related to foreign operations, inventoryobsolescence, copper price fluctuations, customer viability, risks associated with accounts receivable, the impact of regulation and regulatory,investigative and legal proceedings and legal compliance risks, information security risks, risks associated with substantial debt and restrictionscontained in financial and operating covenants in our debt agreements, and risks associated with integration of acquired companies, including, but notlimited to, the risk that the acquisitions may not provide us with the synergies or other benefits that were anticipated. These uncertainties may causeour actual results to be materially different than those expressed in any forward looking statements. We do not undertake to update any forward lookingstatements. Please see our Securities and Exchange Commission (“SEC”) filings for more information.

In addition to the results provided in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) above, this presentation includes certainfinancial measures computed using non-GAAP components as defined by the SEC. Specifically, net sales comparisons to the prior correspondingperiod, both worldwide and in relevant segments, are discussed in this presentation both on a GAAP and non-GAAP basis. We believe that by providingnon-GAAP organic growth, which adjusts for the impact of acquisitions (when applicable), foreign exchange fluctuations and copper prices, bothmanagement and investors are provided with meaningful supplemental sales information to understand and analyze our underlying trends and otheraspects of our financial performance. We calculate the year-over-year organic sales growth impact relating to the Power Solutions acquisition byincluding its 2015 comparable period results prior to the acquisition with our results (on a "pro forma" basis) as we believe this represents the mostaccurate representation of organic growth, considering the nature of the company we acquired and the synergistic revenues that have been or will beachieved. Historically and from time to time, we may also exclude other items from reported financial results (e.g., impairment charges, inventoryadjustments, restructuring charges, tax items, currency devaluations, etc.) so that both management and financial statement users can use these non-GAAP financial measures to better understand and evaluate our performance period over period and to analyze the underlying trends of our business.As a result of the acquisitions of Tri-Ed and Power Solutions, beginning in the first quarter of 2016, we have also excluded amortization of intangibleassets associated with purchase accounting from acquisitions from the adjusted amounts discussed below as non-GAAP financial measures.

Non-GAAP financial measures provide insight into selected financial information and should be evaluated in the context in which they are presented.These non-GAAP financial measures have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, financialinformation presented in compliance with GAAP, and non-GAAP financial measures as reported by us may not be comparable to similarly titled amountsreported by other companies. The non-GAAP financial measures should be considered in conjunction with the Condensed Consolidated FinancialStatements, including the related notes, and Management’s Discussion and Analysis of Financial Condition and Results of Operations. Managementdoes not use these non-GAAP financial measures for any purpose other than the reasons stated above. Unless otherwise stated, all numbers in thispresentation reflect results from continuing operations.


1Q 2016 Highlights and Operating Results

Table of Contents

1. Sales overview2. NSS overview3. EES overview4. UPS overview5. Financial performance trends6. Leverage metrics7. Financial details8. Outlook9. Appendix


Organic Sales Trend

YO

YO

rgan

icG

row

th

1Q 15 2Q 15 3Q15 4Q15 1Q16

2.2%

3.4%

0.7%

(0.5)%

—%

1Q16 Organic Sales Flat

$M

illio

ns

1Q15 PF Currency Copper OrganicGrowth

1Q16

$1,868

$(32)$(20)

$0 $1,816

Sales Growth Drivers• Quarterly sales of $1.82B, up 31%, driven by Power Solutions acquisition• Organic sales flat, with strength in NSS offsetting declines in EES• Currency and copper, combined, negatively impacted sales by $52M or 2.9%• Sequentially, sales decreased (1.1)% on a reported basis and decreased (0.6)% on an organic basis,

excluding $9.1 million of foreign currency• Sales accelerated as the quarter progressed

1. Sales Overview

Total Sales Up 31% driven by Power SolutionsOrganic Sales Flat


1. Sales Overview

Segment Sales Mix

1Q 2016 Sales of $1.82 Billion

NSS - NA

NSS - EMEA

NSS - EM

EES - NA

EES - EMEA

EES - EM

UPS - NA

% of total sales Organic growthNA: 83% 0.8%EMEA: 8% (5.9)%EM: 9% (1.4)%


2. NSS Overview

Network & Security Solutions

• NSS sales of $949.1 million, up 4.1% on an organic basis, driven by strength in North America and Emerging Marketsgeographies

• Sequential sales declined (3.3)% on a reported basis and declined (1.9)% on an organic basis, excluding $13.6 millionof foreign currency, consistent with typical seasonality

• NSS security sales of $384.2 million increased 3% on an organic basis, excluding $6.9 million of foreign currency• Organic growth by geography:

◦ NA up 4.0%◦ EMEA declined (0.4)%◦ EM up 7.6%

NSS Organic Sales Trend

YO

YO

rgan

icG

row

th

1Q15 2Q15 3Q15 4Q15 1Q16

2.7%

5.2%

4.0% 3.8%4.1%

1Q16 Organic Sales Increased 4.1%

$M

illio

ns

1Q15 Currency OrganicGrowth

1Q16

$928

$(17)

$38 $949


2. NSS Overview

NSS Adjusted EBITDA

Adjusted EBITDA Adjusted EBITDA margin

NSS Adjusted EBITDA Trend

100

75

50

25

0

$M

illio

ns

Mar

gin

%

1Q15 2Q15 3Q15 4Q15 1Q16

$61$76 $79 $76

$64

6.5%

7.5% 7.6% 7.7%

6.7%

• NSS adjusted EBITDA margin increase versus prior year driven by strong salesgrowth and effective expense control combined with Tri-Ed synergy benefits


• EES sales of $506 million, up 14.8%, driven by Power Solutions acquisition• Excluding the favorable impact of the acquisition and the unfavorable impacts of copper and currency, organic sales

declined by 7.1%, reflecting current weak trends with industrial customers and relatively flat performance with OEMcustomers

• Organic growth by geography:◦ NA down (4.7)% ◦ EMEA down (12.5)% ◦ EM down (19.5)%

3. EES Overview

Electrical & Electronic Solutions

1Q16 Sales Increased 14.8%Organic Sales Decreased (7.1)%

$M

illio

ns

1Q15 Acquisition 1Q15PF

Currency Copper OrganicGrowth

1Q16

$441

$136 $577

$(10)$(20)

$(41)

$506

EES Adjusted EBITDA Trend

$M

illio

ns

PF

AdjM

argi

n%

1Q15 2Q15 3Q15 4Q15 1Q16

$38 $38 $34$25 $25

7.1% 7.3% 6.9%

4.9% 5.0%

• The decline in YOY adjusted EBITDA margin was primarily due to lower pricing and weakness in the industrial sector


• UPS segment includes the High Voltage portion of sales from the Power Solutions acquisition• Sales of $361.1 million increased 1.1% on a pro forma organic basis, negatively impacted by slower

sales growth in Canada and weakness in oil and gas related markets• UPS adjusted EBITDA of $20 million, or 5.6% of sales, declined by 30 basis points from both prior

year and the previous quarter

4. UPS Overview

Utility Power Solutions

1Q16 Organic Sales Increased 1.1%

$M

illio

ns

1Q15PF

Currency Copper OrganicGrowth

1Q16

$363

$(5) $0

$3 $361

UPS Adjusted EBITDA Trend

$M

illio

ns

PF

AdjM

argi

n%

1Q15 2Q15 3Q15 4Q15 1Q16

$22 $22 $25$21 $20

5.9%5.5%

6.0% 5.9% 5.6%


5. Financial Performance Trends

Gross Margin

• Gross profit dollar increase versus prior year driven by Power Solutions acquisition• Sequentially, margin improvement of 20 bps reflects margin improvement in NSS and EES segments

$M

illio

ns

PF

Gro

ssM

argi

n%

1Q15 2Q15 3Q15 4Q15 1Q16

$309$329 $331

$371 $371

20.5%

20.2%20.3%

20.2%

20.4%



Adjusted Operating Expense

• Adjusted operating expense increase versus prior year driven by Power Solutions acquisition• Sequentially, adjusted operating expense increase driven by normalization of incentive compensation

$M

illio

ns

PF

AdjO

pex

as%

ofS

ales

1Q15 2Q15 3Q15 4Q15 1Q16

$245 $245 $240

$280

$299

16.1%

15.1%14.7%

15.2%

16.4%



Adjusted EBITDA

• The decline in adjusted EBITDA margin versus prior year reflects the combined impact of loweraverage copper prices and currency fluctuations and the slowdown in sales growth caused byweakness in industrial markets

• Sequentially, the decline in adjusted EBITDA margin reflects the negative impacts of lower copperprices, currency fluctuations and the weakness in industrial markets

$M

illio

ns

PF

AdjM

argi

n%

1Q15 2Q15 3Q15 4Q15 1Q16

$73

$93$100 $102

$83

4.9%

5.7%6.1%

5.5%

4.6%



Counter-Cyclical Free Cash Flow ProvidesFinancial Flexibility

Free Cash Flow Sales Growth

$M

illio

ns

45%

30%

15%

0%

-15%

-30%

YO

YS

ales

Gro

wth

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q12016

$267

$149

$98

$43

-$15

-$65

$102 $93

$419

$176

$119 $109

$302

$64 $63 $58

Generate Strong Free Cash Flow Throughout the Economic Cycle


Debt / Adjusted EBITDA

4x

3x

2x

1x2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015* 1Q16*

2.3

3.9 4.0

2.62.9

2.2 2.02.3

3.4

2.8

2.02.4

2.1

2.9

3.8 3.7

6. Leverage Metrics

Near Term Cash Flow Allocation Priority isto Return to Target Debt Levels

Debt-to-Capital

60%

50%

40%

30%2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

41% 41% 41%

35%

47% 46% 46%51%

45% 47% 45%50%

45%

52%

58% 56%

*2015 and 1Q16 periods include 12 months of Power Solutions earnings on a pro forma basis

Target range:2.5 - 3.0x

Target range:45 - 50%


Continuing Operations

$ millions

GAAP NON-GAAP*

1Q 16 1Q 15YOY Change

Favorable(Unfavorable)



Net Sales $1,816.2 $1,385.1 31.1% $1,816.2 $1,385.1 31.1%

Gross Profit $370.8 $309.3 19.9% $370.8 $309.3 19.9%

Gross Margin % 20.4% 22.3% (190) bps 20.4% 22.3% (190) bps

Operating Expense $310.5 $250.0 (24.2)% $298.6 $244.9 (21.9)%

Operating Expense % 17.1% 18.0% 90 bps 16.4% 17.7% 130 bps

Operating Income $60.3 $59.3 1.6% $72.2 $64.4 12.1%

Operating Margin % 3.3% 4.3% (100) bps 4.0% 4.6% (60) bps

EBITDA $74.2 $65.5 13.3% $83.3 $72.8 14.4%

EBITDA Margin % 4.1% 4.7% (60) bps 4.6% 5.3% (70) bps

7. Financial Details

Income Statement Overview

*See Appendix for definitions and Non-GAAP reconciliations



Income Statement Overview


$ millions except EPS

GAAP NON-GAAP*





Operating Income $60.3 $59.3 1.6% $72.2 $64.4 12.1%

Operating Margin % 3.3% 4.3% (100) bps 4.0% 4.6% (60) bps

Interest Expense $20.1 $14.2 $(5.9) $20.1 $14.2 $(5.9)

Foreign Exchange andOther $2.8 $4.0 $1.2 $2.8 $3.3 $0.5

Income Before Taxes $37.4 $41.1 $(3.7) $49.3 $46.9 $2.4

Income Tax Expense $14.2 $14.6 $0.4 $18.7 $16.7 $(2.0)

Effective Tax Rate 37.9% 35.6% (230) bps 37.9% 35.6% (230) bps

Net Income $23.2 $26.5 (12.3)% $30.6 $30.2 1.3%

Diluted EPS $0.70 $0.79 (11.4)% $0.92 $0.90 2.2%

Diluted Average Shares(000's) 33.4 33.4 — 33.4 33.4 —

*See Appendix for definitions and Non-GAAP reconciliations



Adjusted Diluted EPS Bridge: 1Q 15 to 1Q 16

Q1 2015 Adjusted Diluted EPS $0.90

Power Solutions acquisition (excludes amortization of intangible assets) 0.13

Copper impact (0.08)

Currency impact (0.01)

Impact of change in effective tax rate (0.03)

Core operations 0.01




Diluted EPS Bridge: GAAP to Core

Q1 2016 GAAP Diluted EPS $0.70

$2.2M acquisition and integration-related expense 0.04

$9.7M intangible amortization expense 0.18


Currency impact 0.01

Copper impact 0.08

Q1 2016 Core Diluted EPS $1.01



Impact of Currency, Copper and M&A on 1Q 2016 Sales

$ millions 1Q 16

Prior Outlook Actual

Organic sales growth (3.0) - 1.0% 0%

Foreign exchange* $(20 - 25) $(31.7)

Copper** $(20 - 25) $(20.4)

Power Solutions acquisition ~$460 $494.3

*1Q 16 foreign exchange outlook based on rates as of December 31, 2015**1Q 16 copper outlook based on average copper price of approximately $2.00


8. Outlook

Sales Trends by Business and Geography

North America EMEA Emerging Markets

NSS é è è

EES è è ê

UPS è

Business Trend 2Q 2016 versus 1Q 2016

é Trend is likely to improve

è Trend is stable

ê Trend is likely to decline


8. Outlook

Estimated Sales Impacts of Currency, Copper and M&A

$ millions 2Q 16 Outlook Full Year 2016 Outlook

Organic sales growth (2.0) - 2.0% (2.0) - 2.0%

Foreign exchange* $(15 - 20) $(50 - 60)

Copper** $(20 - 25) $(45 - 55)

Power Solutions acquisition*** $505 - $515 $1,450 - $1,500

*Foreign exchange outlook based on rates as of March 31, 2016 **Copper outlook based on average copper price of approximately $2.25***Power Solutions acquisition will impact Q1 - Q3 of 2016


Appendix


Glossary

B billionsM millionsBps basis pointsPF pro formaECS Enterprise Cabling & Security SolutionsW&C Electrical and Electronic Wire & Cable PS Power SolutionsNSS Network & Security SolutionsEES Electrical & Electronic SolutionsUPS Utility Power SolutionsETR Effective tax rateOpex total operating expenseEMEAEurope, middle east and AfricaCALA Central and Latin AmericaAPAC Asia Pacific, Australia and ChinaOEM original equipment manufacturerIOU investor owned utilityMRO maintenance, repair and operationsYoY Year-over-yearNA North AmericaEM Emerging marketsUSD US dollarOGP Oil, gas and petrochemical


Anixter International Inc

EBITDA and Adjusted EBITDA ReconciliationContinuing Operations

$ millionsEBITDA and Adjusted EBITDA

1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

Net income $26.5 $29.5 $35.4 $5.5 $23.2Interest expense 14.2 12.7 15.8 21.1 20.1Income taxes 14.6 18.8 21.5 31.1 14.2Depreciation 5.1 5.3 5.2 6.6 7.0Amortization of intangible assets 5.1 5.2 5.0 9.6 9.7EBITDA $65.5 $71.5 $82.9 $73.9 $74.2

EBITDA as a % of sales 4.7% 4.8% 5.6% 4.0% 4.1%

EBITDA $65.5 $71.5 $82.9 $73.9 $74.2Foreign exchange and other non-operating expense 4.0 3.5 5.5 8.1 2.8Stock-based compensation 3.3 3.6 3.3 3.7 4.1Restructuring charge — 5.3 — 2.9 —Write-off of capitalized software — 3.1 — — —Latin America assets write-offs — 2.6 — 9.1 —Dilapidation provision — 1.7 — — —Acquisition and integration costs — 1.0 8.1 4.1 2.2Pension divestiture costs — 0.4 — — —Adjusted EBITDA $72.8 $92.7 $99.8 $101.8 $83.3Adjusted EBITDA as a % of sales 5.3% 6.3% 6.7% 5.5% 4.6%


Network & Security Solutions

EBITDA and Adjusted EBITDA Reconciliation



1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

Net income $55.7 $66.6 $74.1 $61.8 $58.8Interest expense — — — — —Income taxes — — — — —Depreciation 0.9 0.9 0.9 0.9 0.9Amortization of intangible assets 3.7 3.7 3.7 3.6 3.6EBITDA $60.3 $71.2 $78.7 $66.3 $63.3


EBITDA $60.3 $71.2 $78.7 $66.3 $63.3Stock-based compensation 0.4 0.6 0.4 0.5 0.5Restructuring charge — 1.8 — 0.6 —Latin America assets write-offs — 2.6 — 8.1 —Adjusted EBITDA $60.7 $76.2 $79.1 $75.5 $63.8Adjusted EBITDA as a % of sales 6.5% 7.5% 7.6% 7.7% 6.7%


Electronic and Electrical Solutions




1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

Net income $35.8 $33.6 $32.5 $19.2 $22.5Interest expense — — — — —Income taxes — — — — —Depreciation 0.2 0.3 0.2 0.7 0.5Amortization of intangible assets 1.4 1.5 1.3 2.1 2.2EBITDA $37.4 $35.4 $34.0 $22.0 $25.2


EBITDA $37.4 $35.4 $34.0 $22.0 $25.2Stock-based compensation 0.3 0.4 0.3 0.3 0.2Restructuring charge — 1.8 — 1.4 —Latin America assets write-offs — — — 1.0 —Adjusted EBITDA $37.7 $37.6 $34.3 $24.7 $25.4Adjusted EBITDA as a % of sales 8.6% 8.3% 8.1% 4.9% 5.0%


Utility Power Solutions




1Q 15 2Q 15 3Q 15 4Q 15 1Q 16

Net income $2.0 $2.4 $2.7 $15.3 $14.3Interest expense — — — — —Income taxes — — — — —Depreciation — — — 1.2 1.4Amortization of intangible assets — — — 3.9 3.9EBITDA $2.0 $2.4 $2.7 $20.4 $19.6


EBITDA $2.0 $2.4 $2.7 $20.4 $19.6Stock-based compensation — — — 0.1 0.2Restructuring charge — — — 0.1 —Acquisition and integration costs — — — 0.2 0.3Adjusted EBITDA $2.0 $2.4 $2.7 $20.8 $20.1Adjusted EBITDA as a % of sales 12.1% 12.8% 14.5% 5.9% 5.6%


(In millions, except per share amounts)

Positive (Negative) ImpactThree Months Ended

April 1, 2016 April 3, 2015Continuing operationsItems impacting comparability of results:Items impacting operating income:

Acquisition and integration costs $ (2.2) $ —Intangible amortization (9.7) (5.1)Total of items impacting operating income $ (11.9) $ (5.1)

Items impacting other expenses:Foreign exchange loss from the devaluation of foreign currencies $ — $ (0.7)Total of items impacting other expenses $ — $ (0.7)

Total of items impacting pre-tax income $ (11.9) $ (5.8)Items impacting income taxes:

Tax impact of items impacting pre-tax income above $ 4.5 $ 2.1Total of items impacting income taxes $ 4.5 $ 2.1

Net income impact of these items $ (7.4) $ (3.7)Diluted EPS impact of these items $ (0.22) $ (0.11)

GAAP to Non-GAAP Net Income and EPS Reconciliation for continuing operations:Net income from continuing operations – Non-GAAP $ 30.6 $ 30.2Items impacting net income from continuing operations (7.4) (3.7)Net income from continuing operations – GAAP $ 23.2 $ 26.5

Diluted EPS – Non-GAAP $ 0.92 $ 0.90Diluted EPS impact of these items (0.22) (0.11)Diluted EPS – GAAP $ 0.70 $ 0.79

ITEMS IMPACTING COMPARABILITY


Anixter International Inc

Adjusted Operating Expense Reconciliation

$ millionsAdjusted Operating Expense Margin

1Q 15 2Q 15 3Q 15 4Q 15

Operating expense (as reported) $250.0 $264.4 $252.7 $305.6

Items impacting comparability (5.1) (19.3) (13.1) (25.7)

Adjusted operating expense $244.9 $245.1 $239.6 $279.9

Adjusted operating expense as a % of sales 17.7% 16.6% 16.1% 15.2%

Power Solutions $60.6 $61.4 $68.5 $—

Power Solutions items impacting comparability (amortization ofintangible assets and acquisition and integration costs) (4.4) (4.4) (10.4) —

Pro forma adjusted operating expense $301.1 $302.1 $297.7 $279.9

Pro forma adjusted operating expense as a % of sales 16.1% 15.1% 14.7% 15.2%

Anixter International Inc.

Revised Quarter and Year to Date Financial Information

Q1 to Q4 2015 and FY 2014

As more fully described below, for comparison purposes, the Company is furnishing the following revised segment information as a result of the reorganization of its reportable segments

to include a Corporate segment as well as various strategic transactions we’ve completed recently.

In the third quarter of 2014, Anixter International Inc. (sometimes referred to herein as "we", "our" and the "Company"), through its wholly-owned operating subsidiary, Anixter Inc.,

acquired all of the outstanding shares of Tri-Northern Acquisition Holdings, Inc. ("Tri-Ed"). During the second quarter of 2015, we closed the sale of our OEM Supply - Fasteners ("Fasteners")

business and in the fourth quarter of 2015, we completed the acquisition of the HD Supply Power Solutions business ("Power Solutions"). Beginning in the fourth quarter of 2012 and through the

first quarter of 2015, the Company's reporting units were consistent with its operating segments of Enterprise Cabling & Security Solutions ("ECS"), Electrical and Electronic Wire & Cable

("W&C"), and Fasteners. When we closed the sale of the Fasteners business in the second quarter of 2015, our remaining operating segments were ECS and W&C and our Fasteners business was

reported as discontinued operations.

In the fourth quarter of 2015, in connection with the acquisition of Power Solutions, our historical ECS segment was renamed Network & Security Solutions ("NSS"). The low voltage

business of Power Solutions was combined with our historical W&C segment and renamed Electrical & Electronic Solutions ("EES"). The high voltage business of Power Solutions forms the

Utility Power Solutions ("UPS") segment.

The categorization of net sales by end market is determined using a variety of data points including the technical characteristic of the product, the "sold to" customer information, the "ship

to" customer information and the end customer product or application into which our product will be incorporated. We also have largely specialized our sales organization by segment. As data

systems for capturing and tracking this data evolve and improve, the categorization of products by end market can vary over time. When this occurs, we reclassify net sales by end market for prior

periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market.

We also incur public company and corporate expenses to obtain and coordinate financing, tax, information technology, legal and other related services. These corporate expenses have

historically been allocated to the segments based primarily on projected sales and estimated use of time. In the first quarter of 2016, we reorganized our reportable segments to include a Corporate

segment. As a result, corporate costs will no longer be allocated to the segments.

This information has been prepared to give effect to the new segment structure, the acquisitions of Tri-Ed and Power Solutions, and our divestiture of the Fasteners business as well as the

reclassification of net sales of various product categories between segments as described above. The unaudited revised pro forma selected financial information is based upon the historical

financial statements of the Company, Tri-Ed and Power Solutions. We have also revised prior periods so that the historical results are comparable to our results from continuing operations as a

result of the sale of our Fastener business and the reorganization of our segments.

3030

Non-GAAP Financial Measures

In addition to reported results in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"), this information includes certain financial measures computed using non-

GAAP components as defined by the Securities and Exchange Commission. We believe that by reporting this information both management and investors are provided with meaningful

information to understand and analyze our underlying operational trends and other aspects of our financial performance related to our continuing operations. Historically and from time to time, we

may also exclude other items from reported financial results (e.g., impairment charges, inventory adjustments, restructuring charges, tax items, currency devaluations, etc.) so that both

management and financial statement users can use these non-GAAP financial measures to better understand and evaluate our performance period over period and to analyze the underlying

operational trends of our business. As a result of the acquisitions of Tri-Ed and Power Solutions, beginning in the first quarter of 2016, we plan to begin excluding amortization of intangible asset

charges associated with purchase accounting from acquisitions from our reported financial results.

EBITDA is defined as net income from continuing operations before interest, income taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before foreign

exchange and other non-operating expense and non-cash stock-based compensation, excluding the other items of the type described in the preceding paragraph, from reported financial results.

EBITDA and Adjusted EBITDA are presented because we believe they are useful indicators of our performance and our ability to meet debt service requirements. They are not, however, intended

as an alternative measure of operating results or cash flow from operations as determined in accordance with generally accepted accounting principles.

Non-GAAP financial measures provide insight into selected financial information and should be evaluated in the context in which they are presented. These non-GAAP financial measures

have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-GAAP financial

measures as reported by us may not be comparable to similarly titled amounts reported by other companies. The non-GAAP financial measures should be considered in conjunction with our

Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our filings with the Securities and Exchange

Commission. Management does not use these non-GAAP financial measures for any purpose other than the reasons stated above.

31

ANIXTER INTERNATIONAL INC.Financial Measures That Supplement GAAP (Unaudited)

Adjusted Earnings Per Share(In millions, except per share amounts)

April 3, July 3, October 2, January 1, January 1, January 2,

2015 2015 2015 2016 2016 2015

Continuing operations

Items impacting comparability of results:

Items impacting operating income:

Restructuring charge -$ (5.3)$ -$ (2.9)$ (8.2)$ -$

Amortization of intangible assets (5.1) (5.2) (5.0) (9.6) (24.9) (10.6)

Write-off of capitalized software - (3.1) - - (3.1) -

Latin America assets write-offs - (2.6) - (9.1) (11.7) -

Dilapidation provision - (1.7) - - (1.7) -

Acquisition and integration costs - (1.0) (8.1) (4.1) (13.2) (7.2)

Pension divestiture costs - (0.4) - - (0.4) -

Total of items impacting operating income (5.1)$ (19.3)$ (13.1)$ (25.7)$ (63.2)$ (17.8)$

Items impacting interest expense:

Write-off of debt Issuance costs - - - (0.3) (0.3) -

Total of items impacting interest expense -$ -$ -$ (0.3)$ (0.3)$ -$

Items impacting other expenses:

Foreign exchange loss from the devaluation of foreign currencies (0.7) - - (2.9) (3.6) (8.0)

Extinguishment of debt - - - (0.9) (0.9) -

Acquisition financing costs - - - - - (0.3)

Total of items impacting other expenses (0.7)$ -$ -$ (3.8)$ (4.5)$ (8.3)$

Total of items impacting pre-tax income (5.8)$ (19.3)$ (13.1)$ (29.8)$ (68.0)$ (26.1)$

Items impacting income taxes:

Tax impact of items impacting pre-tax income above 2.1 7.2 4.9 12.1 26.3 8.2 (Establishment)/reversal of deferred income tax valuation allowances - - - (11.3) (11.3) 6.9 Tax benefits related to closing prior tax years - - - - - 1.9

Other tax items - - - (0.5) (0.5) -

Total of items impacting income taxes 2.1$ 7.2$ 4.9$ 0.3$ 14.5$ 17.0$ Net loss impact of these items (3.7)$ (12.1)$ (8.2)$ (29.5)$ (53.5)$ (9.1)$

Diluted EPS impact of these items (0.11)$ (0.36)$ (0.24)$ (0.88)$ (1.56)$ (0.27)$

GAAP to Non-GAAP Net Income and EPS Reconciliation:

Reconciliation to most directly comparable GAAP financial measure:

Continuing operations:

Net income from continuing operations– Non-GAAP 30.2$ 41.6$ 43.6$ 35.0$ 150.4$ 172.5$

Items impacting net income from continuing operations (3.7) (12.1) (8.2) (29.5) (53.5) (9.1) Net income from continuing operations– GAAP 26.5$ 29.5$ 35.4$ 5.5$ 96.9$ 163.4$

Diluted EPS – Non-GAAP 0.90$ 1.24$ 1.30$ 1.05$ 4.46$ 5.17$

Diluted EPS impact of these items (0.11) (0.36) (0.24) (0.88) (1.56) (0.27) Diluted EPS – GAAP 0.79$ 0.88$ 1.06$ 0.17$ 2.90$ 4.90$

Twelve Months EndedThree Months Ended

Positive (Negative) impact

32

ANIXTER INTERNATIONAL INC.Financial Measures That Supplement GAAP (Unaudited) - continued

Items impacting comparability of operating income by segment(In millions)

Three Months Ended April 3, 2015

NSS EES UPS Corporate Total

Adjusted operating income - Non-GAAP 59.4$ 37.2$ 2.0$ (34.2)$ 64.4$

Adjusted operating margin - Non-GAAP 6.4% 8.4% 12.3% nm 4.6%

Amortization of intangible assets (3.7) (1.4) - - (5.1) Total of items impacting operating income for the three months

ended April 3, 2015 (3.7)$ (1.4)$ -$ -$ (5.1)$

Operating income - GAAP 55.7$ 35.8$ 2.0$ (34.2)$ 59.3$

Operating margin - GAAP 6.0% 8.1% 12.3% nm 4.3%

Three Months Ended July 3, 2015




Amortization of intangible assets (3.7) (1.5) - - (5.2)

Restructuring charge (1.8) (1.8) - (1.7) (5.3)

Write-off of capitalized software - - - (3.1) (3.1)

Latin America assets write-offs (2.6) - - - (2.6)

Dilapidation provision - - - (1.7) (1.7)

Acquisition and integration costs - - - (1.0) (1.0)

Pension divestiture costs - - - (0.4) (0.4) Total of items impacting operating income for the three months

ended July 3, 2015 (8.1)$ (3.3)$ -$ (7.9)$ (19.3)$

Operating income - GAAP 66.6$ 33.6$ 2.4$ (38.1)$ 64.5$ Operating income - GAAP 66.6$ 33.6$ 2.4$ (38.1)$ 64.5$


33



Three Months Ended October 2, 2015





Acquisition and integration costs - - - (8.1) (8.1) Total of items impacting operating income for the three months

ended October 2, 2015 (3.7)$ (1.3)$ -$ (8.1)$ (13.1)$


Operating margin - GAAP 7.1% 7.7% 14.4% nm 5.3%Operating margin - GAAP 7.1% 7.7% 14.4% nm 5.3%

Three Months Ended January 1, 2016




Amortization of intangible assets (3.6) (2.1) (3.9) - (9.6)

Restructuring charge (0.6) (1.4) (0.1) (0.8) (2.9)

Latin America assets write-offs (8.1) (1.0) - - (9.1)

Acquisition and integration costs - - (0.2) (3.9) (4.1) Total of items impacting operating income for the three months

ended January 1, 2016 (12.3)$ (4.5)$ (4.2)$ (4.7)$ (25.7)$



34



Twelve Months Ended January 1, 2016




Amortization of intangible assets (14.7) (6.3) (3.9) - (24.9)

Restructuring charge (2.4) (3.2) (0.1) (2.5) (8.2)

Write-off of capitalized software - - - (3.1) (3.1)

Latin America assets write-offs (10.7) (1.0) - - (11.7)

Dilapidation provision - - - (1.7) (1.7)

Acquisition and integration costs - - (0.2) (13.0) (13.2)

Pension divestiture costs - - - (0.4) (0.4) Total of items impacting operating income for the twelve months

ended January 1, 2016 (27.8)$ (10.5)$ (4.2)$ (20.7)$ (63.2)$ ended January 1, 2016 (27.8)$ (10.5)$ (4.2)$ (20.7)$ (63.2)$








Acquisition and strategic project costs (7.0) (0.2) - - (7.2) Total of items impacting operating income for the twelve months

ended January 2, 2015 (11.9)$ (5.9)$ -$ -$ (17.8)$

Operating income - GAAP 261.1$ 162.5$ 10.9$ (124.4)$ 310.1$ Operating margin - GAAP 7.4% 8.5% 15.6% nm 5.6%

35


Adjusted Effective Tax Rate(In millions)

April 3, July 3, October 2 January 1, January 1, January 2,

2015 2015 2015 2016 2016 2015

Income from continuing operations before taxes – GAAP 41.1$ 48.3$ 56.9$ 36.6$ 182.9$ 249.6$

Income tax expense – GAAP 14.6$ 18.8$ 21.5$ 31.1$ 86.0$ 86.2$

Effective income tax rate 35.6% 38.8% 37.8% 84.9% 47.0% 34.5%

Total of items impacting pre-tax income above $ (5.8) $ (19.3) $ (13.1) $ (29.8) $ (68.0) $ (26.1)

Total of items impacting income taxes above $ 2.1 $ 7.2 $ 4.9 $ 0.3 $ 14.5 $ 17.0

Income from continuing operations before income taxes – Non-GAAP 46.9$ 67.6$ 70.0$ 66.4$ 250.9$ 275.7$

Income tax expense – Non-GAAP $ 16.7 $ 26.0 $ 26.4 $ 31.4 $ 100.5 $ 103.2

Adjusted effective income tax rate 35.6% 38.5% 37.7% 47.3% 40.1% 37.4%

Three Months Ended Twelve Months Ended

36


2015 EBITDA by Segment:(In millions)


Net income from continuing operations 55.7$ 35.8$ 2.0$ (67.0)$ 26.5$ Interest expense - - - 14.2 14.2 Income taxes - - - 14.6 14.6 Depreciation 0.9 0.2 - 4.0 5.1 Amortization of intangible assets 3.7 1.4 - - 5.1 EBITDA 60.3$ 37.4$ 2.0$ (34.2)$ 65.5$

EBITDA as a % of sales 6.5% 8.5% 12.1% nm 4.7%

Foreign exchange and other non-operating expense -$ -$ -$ 4.0$ 4.0$ Stock-based compensation 0.4 0.3 - 2.6 3.3 Adjusted EBITDA 60.7$ 37.7$ 2.0$ (27.6)$ 72.8$

Adjusted EBITDA as a % of sales 6.5% 8.6% 12.1% nm 5.3%

Three Months Ended April 3, 2015




Foreign exchange and other non-operating expense -$ -$ -$ 3.5$ 3.5$ Stock-based compensation 0.6 0.4 - 2.6 3.6 Restructuring charge 1.8 1.8 - 1.7 5.3 Write-off of capitalized software - - - 3.1 3.1 Latin America assets write-offs 2.6 - - - 2.6 Dilapidation provision - - - 1.7 1.7 Acquisition and integration costs - - - 1.0 1.0 Pension divestiture costs - - - 0.4 0.4 Adjusted EBITDA 76.2$ 37.6$ 2.4$ (23.5)$ 92.7$


Three Months Ended July 3, 2015

nm - not meaningful

37






Foreign exchange and other non-operating expense -$ -$ -$ 5.5$ 5.5$ Stock-based compensation 0.4 0.3 - 2.6 3.3 Acquisition and integration costs - - - 8.1 8.1 Adjusted EBITDA 79.1$ 34.3$ 2.7$ (16.3)$ 99.8$


Three Months Ended October 2, 2015


Net income from continuing operations 61.8$ 19.2$ 15.3$ (90.8)$ 5.5$

Interest expense - - - 21.1 21.1

Income taxes - - - 31.1 31.1

Depreciation 0.9 0.7 1.2 3.8 6.6

Amortization of intangible assets 3.6 2.1 3.9 - 9.6 EBITDA 66.3$ 22.0$ 20.4$ (34.8)$ 73.9$


Foreign exchange and other non-operating expense -$ -$ -$ 8.1$ 8.1$

Stock-based compensation 0.5 0.3 0.1 2.8 3.7

Restructuring charge 0.6 1.4 0.1 0.8 2.9

Latin America assets write-offs 8.1 1.0 - - 9.1

Acquisition and integration costs - - 0.2 3.9 4.1 Adjusted EBITDA 75.5$ 24.7$ 20.8$ (19.2)$ 101.8$


nm - not meaningful

Three Months Ended January 1, 2016

nm - not meaningful

38




Net income from continuing operations 258.2$ 121.1$ 22.4$ (304.8)$ 96.9$


Income taxes - - - 86.0 86.0

Depreciation 3.6 1.4 1.2 16.0 22.2

Amortization of intangible assets 14.7 6.3 3.9 - 24.9

EBITDA 276.5$ 128.8$ 27.5$ (139.0)$ 293.8$



Stock-based compensation 1.9 1.3 0.1 10.6 13.9

Restructuring charge 2.4 3.2 0.1 2.5 8.2

Write-off of capitalized software - - - 3.1 3.1




Dilapidation provision - - - 1.7 1.7

Acquisition and integration costs - - 0.2 13.0 13.2

Pension divestiture costs - - - 0.4 0.4

Adjusted EBITDA 291.5$ 134.3$ 27.9$ (86.6)$ 367.1$


2014 EBITDA by Segment:


Net income 261.1$ 162.5$ 10.9$ (271.1)$ 163.4$


Income taxes - - - 86.2 86.2

Depreciation 3.0 1.2 - 15.8 20.0

Amortization of intangible assets 4.9 5.7 - - 10.6

EBITDA 269.0$ 169.4$ 10.9$ (124.6)$ 324.7$



Stock-based compensation 1.7 1.3 - 9.6 12.6


Stock-based compensation 1.7 1.3 - 9.6 12.6

Acquisition and strategic project costs 7.0 0.2 - - 7.2

Adjusted EBITDA 277.7$ 170.9$ 10.9$ (99.0)$ 360.5$


nm-not meaningful

39

Pro Forma 2015 and 2014 Results Restated for Corporate Segment and Reclassification of Product Sales

We furnished unaudited pro forma selected financial information as described in the Current Report filed on Form 8-K, dated January 20, 2016. This information was prepared to give

effect to the acquisitions of Tri-Ed and Power Solutions and our divestiture of the Fasteners business. The unaudited pro forma selected financial information was based upon the historical

financial statements of the Company, Tri-Ed and Power Solutions. We also revised prior periods so that our historical results were comparable to our results from continuing operations as a result

of the sale of our Fastener business.

We have further revised the previously furnished unaudited pro forma selected financial information for the years ended January 1, 2016 and January 2, 2015 (and their respective

quarterly periods) to give effect to the new Corporate segment structure as well as the reclassification of net sales of various product categories between segments.

40

Q1 2015 - Restated Pro Forma

Reported 1

Corporate

Adjustment

Segment

Reclasses Restated 1

Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Restated

Pro Forma Reported

Power

Solutions Pro Forma

Net sales 915.8$ -$ 12.2$ 928.0$ 469.3$ 136.2$ -$ (28.5)$ 577.0$ -$ 346.4$ -$ 16.3$ 362.7$ -$ -$ -$ -$ 1,385.1$ 482.6$ 1,867.7$

Gross profit 309.3 73.1 382.4

Gross margin % 22.3% 15.1% 20.5%

Operating expense 250.0 60.6 310.6

Operating income 36.3 17.8 1.6 55.7 26.2 0.6 14.2 (3.6) 37.4 - 11.9 2.4 2.0 16.3 (3.2) - (34.4) (37.6) 59.3 12.5 71.8

Interest expense - - - - - - - - - - - - - - (14.2) (7.4) - (21.6) (14.2) (7.4) (21.6)

Other, net - - - - - - - - - - - - - - (4.0) - - (4.0) (4.0) - (4.0)

Income from continuing operations

before income taxes 36.3 17.8 1.6 55.7 26.2 0.6 14.2 (3.6) 37.4 - 11.9 2.4 2.0 16.3 (21.4) (7.4) (34.4) (63.2) 41.1 5.1 46.2

Income taxes - - - - - - - - - - - - - - 14.6 2.0 - 16.6 14.6 2.0 16.6

Net income from continuing operations 36.3$ 17.8$ 1.6$ 55.7$ 26.2$ 0.6$ 14.2$ (3.6)$ 37.4$ -$ 11.9$ 2.4$ 2.0$ 16.3$ (36.0)$ (9.4)$ (34.4)$ (79.8)$ 26.5$ 3.1$ 29.6$

EBITDA 43.4$ 15.3$ 1.6$ 60.3$ 29.3$ 1.9$ 12.7$ (3.6)$ 40.3$ -$ 16.8$ 2.4$ 2.0$ 21.2$ (7.2)$ -$ (30.4)$ (37.6)$ 65.5$ 18.7$ 84.2$

EBITDA margin % 4.7% 6.5% 6.2% 7.0% 5.8% 4.7% 4.5%

Adjusted EBITDA 45.5$ 13.6$ 1.6$ 60.7$ 30.5$ 2.1$ 11.8$ (3.6)$ 40.8$ -$ 17.2$ 2.4$ 2.0$ 21.6$ (3.2)$ -$ (27.8)$ (31.0)$ 72.8$ 19.3$ 92.1$

Adjusted EBITDA margin % 5.0% 6.5% 6.5% 7.1% 5.9% 5.3% 4.9%

Diluted EPS - Non-GAAP 0.90$ 1.00$


Reported 1

Corporate

Adjustment

Segment


Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Restated

Pro Forma Reported

Power

Solutions Pro Forma

Net sales 1,001.6$ -$ 10.1$ 1,011.7$ 478.8$ 145.1$ -$ (29.3)$ 594.6$ -$ 381.7$ -$ 19.2$ 400.9$ -$ -$ -$ -$ 1,480.4$ 526.8$ 2,007.2$

Gross profit 328.9 76.8 405.7

Gross margin % 22.2% 14.6% 20.2%




Other, net - - - - - - - - - - - - - - (3.5) - - (3.5) (3.5) - (3.5)



Income taxes - - - - - - - - - - - - - - 18.8 3.0 - 21.8 18.8 3.0 21.8


EBITDA 49.6$ 20.2$ 1.4$ 71.2$ 28.0$ 4.6$ 12.2$ (3.8)$ 41.0$ -$ 16.8$ 2.4$ 2.4$ 21.6$ (6.1)$ -$ (34.8)$ (40.9)$ 71.5$ 21.4$ 92.9$

EBITDA margin % 5.0% 7.0% 5.8% 6.9% 5.4% 4.8% 4.6%

Adjusted EBITDA 60.6$ 14.1$ 1.5$ 76.2$ 34.2$ 4.8$ 8.3$ (3.9)$ 43.4$ -$ 17.2$ 2.4$ 2.4$ 22.0$ (2.1)$ -$ (24.8)$ (26.9)$ 92.7$ 22.0$ 114.7$


Diluted EPS - Non-GAAP 1.24$ 1.39$ 1 The Power Solutions acquisition had no impact on the NSS segment. Therefore, no pro forma adjustments are necessary.


Restated Pro Forma Selected Financial Information (Unaudited)


Fiscal Year 2015

NSS

NSS Consolidated

Consolidated

EES UPS Corporate

EES UPS Corporate

41




Fiscal Year 2015


Reported 1

Corporate

Adjustment

Segment


Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Restated

Pro Forma Reported

Power

Solutions Pro Forma

Net sales 1,035.4$ -$ 11.5$ 1,046.9$ 453.8$ 145.1$ -$ (30.2)$ 568.7$ -$ 388.4$ -$ 18.7$ 407.1$ -$ -$ -$ -$ 1,489.2$ 533.5$ 2,022.7$

Gross profit 330.9 79.0 409.9

Gross margin % 22.2% 14.8% 20.3%




Other, net - - - - - - - - - - - - - - (5.5) - - (5.5) (5.5) - (5.5)



Income taxes - - - - - - - - - - - - - - 21.5 1.1 - 22.6 21.5 1.1 22.6


EBITDA 68.8$ 8.3$ 1.6$ 78.7$ 31.7$ 2.1$ 7.6$ (4.3)$ 37.1$ -$ 14.8$ 2.4$ 2.7$ 19.9$ (17.6)$ -$ (18.3)$ (35.9)$ 82.9$ 16.9$ 99.8$

EBITDA margin % 6.6% 7.5% 7.0% 6.5% 4.9% 5.6% 4.9%

Adjusted EBITDA 71.0$ 6.5$ 1.6$ 79.1$ 31.8$ 3.7$ 7.8$ (4.3)$ 39.0$ -$ 19.4$ 2.4$ 2.7$ 24.5$ (3.0)$ -$ (16.7)$ (19.7)$ 99.8$ 23.1$ 122.9$



Q4 2015 - Restated Reported

Reported 1

Corporate

Adjustment

Segment


Reported

Power

Solutions 2

Corporate

Adjustment

Segment


Reported

Power

Solutions 2

Corporate

Adjustment

Segment


Reported

Power

Solutions 2

Corporate

Adjustment Restated 2

Reported

Power

Solutions 2

Pro Forma

Net sales 971.6$ -$ 10.0$ 981.6$ 528.3$ -$ -$ (25.7)$ 502.6$ 335.9$ -$ -$ 15.7$ 351.6$ -$ -$ -$ -$ 1,835.8$ -$ 1,835.8$

Gross profit 371.4 - 371.4

Gross margin % 20.2% 20.2%

Operating expense 305.6 - 305.6

Operating income 49.1 11.2 1.5 61.8 12.7 - 10.5 (4.0) 19.2 10.4 - 2.4 2.5 15.3 (6.4) - (24.1) (30.5) 65.8 - 65.8

Interest expense - - - - - - - - - - - - - - (21.1) - - (21.1) (21.1) - (21.1)

Other, net - - - - - - - - - - - - - - (8.1) - - (8.1) (8.1) - (8.1)


before income taxes 49.1 11.2 1.5 61.8 12.7 - 10.5 (4.0) 19.2 10.4 - 2.4 2.5 15.3 (35.6) - (24.1) (59.7) 36.6 - 36.6

Income taxes - - - - - - - - - - - - - - 31.1 - - 31.1 31.1 - 31.1

Net income from continuing operations 49.1$ 11.2$ 1.5$ 61.8$ 12.7$ -$ 10.5$ (4.0)$ 19.2$ 10.4$ -$ 2.4$ 2.5$ 15.3$ (66.7)$ -$ (24.1)$ (90.8)$ 5.5$ -$ 5.5$

EBITDA 56.0$ 8.8$ 1.5$ 66.3$ 16.8$ -$ 9.2$ (4.0)$ 22.0$ 15.4$ -$ 2.5$ 2.5$ 20.4$ (14.3)$ -$ (20.5)$ (34.8)$ 73.9$ -$ 73.9$

EBITDA margin % 5.8% 6.8% 3.2% 4.4% 4.6% 5.8% 4.0% 4.0%

Adjusted EBITDA 67.5$ 6.5$ 1.5$ 75.5$ 20.8$ -$ 7.9$ (4.0)$ 24.7$ 15.8$ -$ 2.5$ 2.5$ 20.8$ (2.3)$ -$ (16.9)$ (19.2)$ 101.8$ -$ 101.8$

Adjusted EBITDA margin % 6.9% 7.7% 3.9% 4.9% 4.7% 5.9% 5.5% 5.5%

Diluted EPS - Non-GAAP 1.05$ 1.05$ 1 The Power Solutions acquisition had no impact on the NSS segment. Therefore, no pro forma adjustments are necessary.

2 As Power Solutions was acquired on October 5, 2015, amounts in Q4 2015 "Reported" includes actual Power Solutions results. Therefore, no pro forma adjustments are necessary.

NSS EES UPS Corporate

EES UPS CorporateNSS Consolidated

Consolidated

42




Fiscal Year 2015

Fiscal Year 2015 - Restated Pro Forma

Reported 1

Corporate

Adjustment

Segment


Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated

Pro Forma Reported

Power

Solutions

Corporate

Adjustment

Restated

Pro Forma Reported

Power

Solutions Pro Forma

Net sales 3,924.4$ -$ 43.8$ 3,968.2$ 1,930.2$ 426.4$ -$ (113.7)$ 2,242.9$ 335.9$ 1,116.5$ -$ 69.9$ 1,522.3$ -$ -$ -$ -$ 6,190.5$ 1,542.9$ 7,733.4$

Gross profit 1,340.5 228.9 1,569.4

Gross margin % 21.7% 14.8% 20.3%

Operating expense 1,072.7 190.5 1,263.2

Operating income 189.4 62.7 6.1 258.2 92.5 4.6 47.3 (15.7) 128.7 10.4 33.8 9.6 9.6 63.4 (24.5) - (119.6) (144.1) 267.8 38.4 306.2


Other, net - - - - - - - - - - - - - - (21.1) - - (21.1) (21.1) - (21.1)


before income taxes 189.4 62.7 6.1 258.2 92.5 4.6 47.3 (15.7) 128.7 10.4 33.8 9.6 9.6 63.4 (109.4) (22.1) (119.6) (251.1) 182.9 16.3 199.2

Income taxes - - - - - - - - - - - - - - 86.0 6.1 - 92.1 86.0 6.1 92.1

Net income from continuing operations 189.4$ 62.7$ 6.1$ 258.2$ 92.5$ 4.6$ 47.3$ (15.7)$ 128.7$ 10.4$ 33.8$ 9.6$ 9.6$ 63.4$ (195.4)$ (28.2)$ (119.6)$ (343.2)$ 96.9$ 10.2$ 107.1$

EBITDA 217.8$ 52.6$ 6.1$ 276.5$ 105.8$ 8.6$ 41.7$ (15.7)$ 140.4$ 15.4$ 48.4$ 9.7$ 9.6$ 83.1$ (45.2)$ -$ (104.0)$ (149.2)$ 293.8$ 57.0$ 350.8$

EBITDA margin % 5.5% 7.0% 5.5% 6.3% 4.6% 5.5% 4.7% 4.5%

Adjusted EBITDA 244.6$ 40.7$ 6.2$ 291.5$ 117.3$ 10.6$ 35.8$ (15.8)$ 147.9$ 15.8$ 53.8$ 9.7$ 9.6$ 88.9$ (10.6)$ -$ (86.2)$ (96.8)$ 367.1$ 64.4$ 431.5$

Adjusted EBITDA margin % 6.2% 7.3% 6.1% 6.6% 4.7% 5.8% 5.9% 5.6%

Diluted EPS - Non-GAAP 4.46$ 4.76$ 1 The Power Solutions acquisition had no impact on the NSS segment. Therefore, no pro forma adjustments were necessary.

ConsolidatedNSS EES UPS Corporate

43

Fiscal Year 2014

Reported Tri-Ed

Corporate

Adjustment

Segment

Reclasses

Restated Pro

Forma Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated Pro

Forma Reported

Power

Solutions

Corporate

Adjustment

Segment

Reclasses

Restated Pro

Forma Reported Tri-Ed

Power

Solutions

Corporate

Adjustment

Restated Pro

Forma Reported Tri-Ed

Power

Solutions Pro Forma

Net sales 3,481.2$ 419.7$ -$ 44.8$ 3,945.7$ 2,025.8$ 547.8$ -$ (114.7)$ 2,458.9$ -$ 1,356.5$ -$ 69.9$ 1,426.4$ -$ -$ -$ -$ -$ 5,507.0$ 419.7$ 1,904.3$ 7,831.0$

Gross profit 1,239.3 81.6 289.5 1,610.4

Gross margin % 22.5% 19.4% 15.2% 20.6%

Operating expense 929.2 62.4 242.5 1,234.1

Operating income 182.8 19.2 73.0 5.3 280.3 139.0 14.7 43.7 (16.2) 181.2 - 32.3 9.5 10.9 52.7 (11.7) - - (126.2) (137.9) 310.1 19.2 47.0 376.3

Interest expense - - - - - - - - - - - - - - - (44.5) (10.1) (30.4) - (85.0) (44.5) (10.1) (30.4) (85.0)

Other, net - - - - - - - - - - - - - - - (16.0) (0.3) 0.4 - (15.9) (16.0) (0.3) 0.4 (15.9)

Income from continuing

operations before

income taxes 182.8 19.2 73.0 5.3 280.3 139.0 14.7 43.7 (16.2) 181.2 - 32.3 9.5 10.9 52.7 (72.2) (10.4) (30.0) (126.2) (238.8) 249.6 8.8 17.0 275.4

Income taxes - - - - - - - - - - - - - - - 86.2 2.3 6.4 - 94.9 86.2 2.3 6.4 94.9

Net income from

continuing operations 182.8$ 19.2$ 73.0$ 5.3$ 280.3$ 139.0$ 14.7$ 43.7$ (16.2)$ 181.2$ -$ 32.3$ 9.5$ 10.9$ 52.7$ (158.4)$ (12.7)$ (36.4)$ (126.2)$ (333.7)$ 163.4$ 6.5$ 10.6$ 180.5$

EBITDA 200.2$ 30.0$ 63.5$ 5.3$ 299.0$ 152.2$ 19.5$ 37.4$ (16.2)$ 192.9$ -$ 51.7$ 9.5$ 10.9$ 72.1$ (27.7)$ (0.3)$ 0.4$ (110.4)$ (138.0)$ 324.7$ 29.7$ 71.6$ 426.0$

EBITDA margin % 5.8% 7.6% 7.5% 7.8% 5.1% 5.9% 5.4%

Adjusted EBITDA 214.8$ 30.0$ 57.6$ 5.3$ 307.7$ 157.4$ 20.3$ 33.7$ (16.2)$ 195.2$ -$ 57.2$ 9.5$ 10.9$ 77.6$ (11.7)$ 0.0$ 0.0$ (100.8)$ (112.5)$ 360.5$ 30.0$ 77.5$ 468.0$



ConsolidatedNSS EES UPS Corporate




Fiscal Year 2014

44

US GAAP 2015 and 2014 Results Restated for Corporate Segment and Reclassification of Product Sales

We have restated the previously disclosed selected financial information for the years ended January 1, 2016 and January 2, 2015 (and their respective quarterly periods) to give effect to

the new Corporate segment structure as well as the reclassification of net sales of various product categories between segments.

45

Q1 2015 - Restated Consolidated

Reported

Corporate

Adjustment

Segment

Reclasses Restated Reported

Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate

Adjustment Restated Reported

Net sales 915.8$ -$ 12.2$ 928.0$ 469.3$ -$ (28.5)$ 440.8$ -$ -$ 16.3$ 16.3$ -$ -$ -$ 1,385.1$

Gross profit 309.3

Gross margin % 22.3%

Operating expense 250.0

Operating income 36.3 17.8 1.6 55.7 26.2 13.2 (3.6) 35.8 - - 2.0 2.0 (3.2) (31.0) (34.2) 59.3

Interest expense - - - - - - - - - - - - (14.2) - (14.2) (14.2)

Other, net - - - - - - - - - - - - (4.0) - (4.0) (4.0)


before income taxes 36.3 17.8 1.6 55.7 26.2 13.2 (3.6) 35.8 - - 2.0 2.0 (21.4) (31.0) (52.4) 41.1

Income taxes - - - - - - - - - - - - 14.6 - 14.6 14.6

Net income from continuing operations 36.3$ 17.8$ 1.6$ 55.7$ 26.2$ 13.2$ (3.6)$ 35.8$ -$ -$ 2.0$ 2.0$ (36.0)$ (31.0)$ (67.0)$ 26.5$

EBITDA 43.4$ 15.3$ 1.6$ 60.3$ 29.3$ 11.7$ (3.6)$ 37.4$ -$ -$ 2.0$ 2.0$ (7.2)$ (27.0)$ (34.2)$ 65.5$

EBITDA margin % 4.7% 6.5% 6.2% 8.5% 12.1% 4.7%

Adjusted EBITDA 45.5$ 13.6$ 1.6$ 60.7$ 30.5$ 10.8$ (3.6)$ 37.7$ -$ -$ 2.0$ 2.0$ (3.2)$ (24.4)$ (27.6)$ 72.8$

Adjusted EBITDA margin % 5.0% 6.5% 6.5% 8.6% 12.1% 5.3%

Diluted EPS - Non-GAAP 0.90$


Reported

Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate


Net sales 1,001.6$ -$ 10.1$ 1,011.7$ 478.8$ -$ (29.3)$ 449.5$ -$ -$ 19.2$ 19.2$ -$ -$ -$ 1,480.4$

Gross profit 328.9





Other, net - - - - - - - - - - - - (3.5) - (3.5) (3.5)



Income taxes - - - - - - - - - - - - 18.8 - 18.8 18.8


EBITDA 49.6$ 20.2$ 1.4$ 71.2$ 28.0$ 11.2$ (3.8)$ 35.4$ -$ -$ 2.4$ 2.4$ (6.1)$ (31.4)$ (37.5)$ 71.5$

EBITDA margin % 5.0% 7.0% 5.8% 7.9% 12.8% 4.8%

Adjusted EBITDA 60.6$ 14.1$ 1.5$ 76.2$ 34.2$ 7.3$ (3.9)$ 37.6$ -$ -$ 2.4$ 2.4$ (2.1)$ (21.4)$ (23.5)$ 92.7$




Restated Selected Financial Information (Unaudited)


Fiscal Year 2015

Corporate

CorporateNSS EES UPS

NSS EES UPS

46




Fiscal Year 2015


Reported

Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate


Net sales 1,035.4$ -$ 11.5$ 1,046.9$ 453.8$ -$ (30.2)$ 423.6$ -$ -$ 18.7$ 18.7$ -$ -$ -$ 1,489.2$

Gross profit 330.9





Other, net - - - - - - - - - - - - (5.5) - (5.5) (5.5)



Income taxes - - - - - - - - - - - - 21.5 - 21.5 21.5


EBITDA 68.8$ 8.3$ 1.6$ 78.7$ 31.7$ 6.6$ (4.3)$ 34.0$ -$ -$ 2.7$ 2.7$ (17.6)$ (14.9)$ (32.5)$ 82.9$

EBITDA margin % 6.6% 7.5% 7.0% 8.0% 14.5% 5.6%

Adjusted EBITDA 71.0$ 6.5$ 1.6$ 79.1$ 31.8$ 6.8$ (4.3)$ 34.3$ -$ -$ 2.7$ 2.7$ (3.0)$ (13.3)$ (16.3)$ 99.8$




Reported

Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate


Net sales 971.6$ -$ 10.0$ 981.6$ 528.3$ -$ (25.7)$ 502.6$ 335.9$ -$ 15.7$ 351.6$ -$ -$ -$ 1,835.8$

Gross profit 371.4



Operating income 49.1 11.2 1.5 61.8 12.7 10.5 (4.0) 19.2 10.4 2.4 2.5 15.3 (6.4) (24.1) (30.5) 65.8


Other, net - - - - - - - - - - - - (8.1) - (8.1) (8.1)


before income taxes 49.1 11.2 1.5 61.8 12.7 10.5 (4.0) 19.2 10.4 2.4 2.5 15.3 (35.6) (24.1) (59.7) 36.6

Income taxes - - - - - - - - - - - - 31.1 - 31.1 31.1

Net income from continuing operations 49.1$ 11.2$ 1.5$ 61.8$ 12.7$ 10.5$ (4.0)$ 19.2$ 10.4$ 2.4$ 2.5$ 15.3$ (66.7)$ (24.1)$ (90.8)$ 5.5$

EBITDA 56.0$ 8.8$ 1.5$ 66.3$ 16.8$ 9.2$ (4.0)$ 22.0$ 15.4$ 2.5$ 2.5$ 20.4$ (14.3)$ (20.5)$ (34.8)$ 73.9$

EBITDA margin % 5.8% 6.8% 3.2% 4.4% 4.6% 5.8% 4.0%

Adjusted EBITDA 67.5$ 6.5$ 1.5$ 75.5$ 20.8$ 7.9$ (4.0)$ 24.7$ 15.8$ 2.5$ 2.5$ 20.8$ (2.3)$ (16.9)$ (19.2)$ 101.8$



NSS Corporate

Corporate

EES UPS

NSS EES UPS

47




Fiscal Year 2015

Fiscal Year 2015 - Restated Consolidated

Reported

Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate


Net sales 3,924.4$ -$ 43.8$ 3,968.2$ 1,930.2$ -$ (113.7)$ 1,816.5$ 335.9$ -$ 69.9$ 405.8$ -$ -$ -$ 6,190.5$

Gross profit 1,340.5


Operating expense 1,072.7

Operating income 189.4 62.7 6.1 258.2 92.5 44.3 (15.7) 121.1 10.4 2.4 9.6 22.4 (24.5) (109.4) (133.9) 267.8


Other, net - - - - - - - - - - - - (21.1) - (21.1) (21.1)


before income taxes 189.4 62.7 6.1 258.2 92.5 44.3 (15.7) 121.1 10.4 2.4 9.6 22.4 (109.4) (109.4) (218.8) 182.9

Income taxes - - - - - - - - - - - - 86.0 - 86.0 86.0

Net income from continuing operations 189.4$ 62.7$ 6.1$ 258.2$ 92.5$ 44.3$ (15.7)$ 121.1$ 10.4$ 2.4$ 9.6$ 22.4$ (195.4)$ (109.4)$ (304.8)$ 96.9$

EBITDA 217.8$ 52.6$ 6.1$ 276.5$ 105.8$ 38.7$ (15.7)$ 128.8$ 15.4$ 2.5$ 9.6$ 27.5$ (45.2)$ (93.8)$ (139.0)$ 293.8$

EBITDA margin % 5.5% 7.0% 5.5% 7.1% 4.6% 6.8% 4.7%

Adjusted EBITDA 244.6$ 40.7$ 6.2$ 291.5$ 117.3$ 32.8$ (15.8)$ 134.3$ 15.8$ 2.5$ 9.6$ 27.9$ (10.6)$ (76.0)$ (86.6)$ 367.1$




48

Fiscal Year 2014 - Restated Consolidated

Reported

Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate

Adjustment

Segment


Corporate


Net sales 3,481.2$ -$ 44.8$ 3,526.0$ 2,025.8$ -$ (114.7)$ 1,911.1$ -$ -$ 69.9$ 69.9$ -$ -$ -$ 5,507.1$

Gross profit 1,239.3





Other, net - - - - - - - - - - - - (16.0) - (16.0) (16.0)



Income taxes - - - - - - - - - - - - 86.2 - 86.2 86.2


EBITDA 200.2$ 63.5$ 5.3$ 269.0$ 152.2$ 33.4$ (16.2)$ 169.4$ -$ -$ 10.9$ 10.9$ (27.7)$ (96.9)$ (124.6)$ 324.7$

EBITDA margin % 5.8% 7.6% 7.5% 8.9% 15.6% 5.9%

Adjusted EBITDA 214.8$ 57.6$ 5.3$ 277.7$ 157.4$ 29.7$ (16.2)$ 170.9$ -$ -$ 10.9$ 10.9$ (11.7)$ (87.3)$ (99.0)$ 360.5$






Fiscal Year 2014


49

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