AVNET INC

Avnet, Inc. is a leading global electronic component technology distributor and solutions provider, serving customers for over a century since its founding in 1921. The company collaborates with electronic component manufacturers across all major electronic component segments to support customers in more than 140 countries. Avnet's customer base ranges from startups and mid-sized businesses to enterprise-level original equipment manufacturers (OEMs), electronic manufacturing services (EMS) providers, and original design manufacturers (ODMs). Avnet operates through two primary groups: Electronic Components (EC) and Farnell. Both groups have operations in the Americas, Europe, Middle East, and Africa (EMEA), and Asia/Pacific (Asia). Each operating group has its own management team and distinct financial reporting, which informs company-wide operating decisions, strategic planning, and resource allocation. Regional divisions, or business units, within each group primarily function as sales and marketing units, streamlining sales and enhancing customer and supplier relationships, often along specific geographies or product lines. These business units rely on support services from their respective operating groups and centralized corporate support. The Electronic Components (EC) operating group primarily serves high and medium-volume customers. It markets, sells, and distributes electronic components from many leading manufacturers, including semiconductors, IP&E components (interconnect, passive and electromechanical components), and other integrated and embedded components. EC serves diverse markets such as industrial, automotive, defense, and aerospace. Further financial information by operating group is available in Note 16 "Segment information" to the consolidated financial statements appearing in Item 8 of this Annual Report on Form 10-K.