Flex Commences Exchange Offer in Connection with Notes Issued in June 2015

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Flex has announced an offer to exchange up to $600 million aggregate principal amount of its outstanding, unregistered 4.750% Notes due 2025 for an equivalent amount of 4.750% Notes due 2025 which have been registered under the Securities Act of 1933.

The terms of the Exchange Notes will be substantially identical to the terms of the Original Notes, except that the Exchange Notes will be registered under the Securities Act of 1933, and the transfer restrictions, registration rights and payment of additional interest in case of non-registration applicable to the Original Notes will not apply to the Exchange Notes.

The Exchange Offer will expire at 11:59 p.m., New York City time, on January 11, 2016, subject to Flex's right to extend the expiration date for the Exchange Offer. A tender of Original Notes pursuant to the Exchange Offer may be withdrawn at any time prior to the expiration date.

The terms of the Exchange Offer are set forth in the prospectus dated December 7, 2015 (the "Prospectus") and the accompanying letter of transmittal. Holders of the Original Notes may obtain copies of the Prospectus and the accompanying letter of transmittal through U.S. Bank National Association, which is serving as the exchange agent in connection with the Exchange Offer.