Q1' FY16 Q1' FY17 Y/Y Chg Sales $ 4,600.8 $ 4,173.4 $ (427.4) Gross Profit $ $ $ (37.8) Gross Profit Margin 12.2 % 12.

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1 $ in millins - except per share data Octber 1, 2016 CFO Review f Fiscal 2017 First Quarter Results Discntinued Operatins On September 19, 2016, Avnet, Inc. annunced that it had entered int an agreement t sell its Technlgy Slutins (TS) perating grup t Tech Data Crpratin. The transactin is subject t custmary clsing cnditins and regulatry apprval and is expected t clse in the first half f calendar As a result f the pending sale and having met applicable accunting requirements, Avnet is reprting the TS business as a discntinued peratin beginning with the first quarter f fiscal The first quarter f fiscal 2016 ended Octber 3, 2015, had an extra week f sales, which resulted in an estimated $525 millin impact n adjusted sales and $0.11 t $0.13 n adjusted diluted EPS. Q1' FY16 Q4' FY16 Q1' FY17 Y/Y Chg Seq. Chg Adjusted Sales $ 6,969.7 $ 6,226.8 $ 6,040.3 $ (929.4) $ (186.5) Adjusted Grss Prfit $ $ $ $ (75.5) $ (15.1) Adjusted Grss Prfit Margin 11.4 % 11.7 % 11.9 % 49 bps 11 bps Q1' FY16 Q1' FY17 Y/Y Chg Sales $ 4,600.8 $ 4,173.4 $ (427.4) Grss Prfit $ $ $ (37.8) Grss Prfit Margin 12.2 % 12.6 % 35 bps Operating Incme $ $ $ (39.0) Adjusted Operating Incme $ $ $ (47.3) Operating Incme Margin 3.7 % 3.1 % (55) bps Adjusted Operating Incme Margin 3.5 % 3.2 % (25) bps Net Incme $ $ 68.8 $ (61.4) Adjusted Net Incme $ $ $ (34.5) Adjusted Diluted EPS $ 1.12 $ 0.91 (18.8)% Diluted EPS $ 0.96 $ 0.53 (44.8)% Return n Wrking Capital (ROWC) (2) 20.9 % 16.2 % (473) bps Return n Capital Emplyed (ROCE) (2) 11.2 % 8.9 % (232) bps Wrking Capital Velcity (2) (1.0) As the TS business is a discntinued peratin the Avnet reprted Sales, Grss Prfit and Operating Incme amunts exclude the sales, grss prfit and perating incme frm TS fr the perids presented. References t Adjusted Sales, Adjusted Grss Prfit and Adjusted Operating Incme include the sales, grss prfit and perating incme, respectively, f TS as well as ther histrical adjustments. See the recnciliatin f nn-gaap financial infrmatin attached as exhibit 99.2 t the Frm 8-K filed with the Securities Exchange Cmmissin n Octber 27, 2016 ( Exhibit 99.2 ). (2) Returns reflect bth cntinuing and discntinued peratins. See Exhibit Adjusted sales fr the first quarter f fiscal 2017 decreased 13.3% year ver year t $6.04 billin. Adjusted rganic sales (excluding extra week in prir year) decreased 7.0%. Sales (frm cntinuing peratins) fr the first quarter f fiscal 2017 decreased 9.3% year ver year t $4.17 billin. Organic sales frm cntinuing peratins (excluding extra week in prir year) decreased 2.8%. Adjusted perating incme decreased by 19.7% year ver year t $193.1 millin and adjusted perating margin declined 25 basis pints primarily due t lwer sales and an extra week in the prir year quarter. Sequentially, adjusted perating incme decreased 0.8% while adjusted perating incme margin imprved by 7 basis pints as a 52 basis pint imprvement at EM was ffset by a decline f 81 basis pints at TS. Adjusted diluted earnings per share f $0.91 decreased 18.8% year ver year, with the decline primarily due t lwer sales and an extra week in the prir year quarter. Cash flw generated frm cntinuing peratins was $111.3 millin in the first quarter f fiscal 2017.

2 $ in millins - except per share data Octber 1, 2016 During the first quarter f fiscal 2017, the Cmpany paid a dividend f $0.17 per share, r $21.7 millin. Sales The first quarter f fiscal 2016 ended Octber 3, 2015, had an extra week f sales, which resulted in an estimated $300 millin impact n EM sales and an estimated $225 millin impact n TS sales Year-ver- Year Grwth Rates Q1' FY16 (2) Q1' FY17 Reprted Electrnics Marketing (EM) $ 4,600.8 $ 4,173.4 (9.3)% Cnstant Currency (9.7)% Americas $ 1,375.5 $ 1,305.8 (5.1)% EMEA $ 1,338.1 $ 1,265.3 (5.4)% Cnstant Currency (5.3)% Asia $ 1,887.2 $ 1,602.3 (15.1)% Cnstant Currency (16.1)% Technlgy Slutins (TS) $ 2,368.9 $ 1,866.9 (21.2)% Cnstant Currency (20.3)% Americas $ 1,398.4 $ 1,043.5 (25.4)% EMEA $ $ (14.3)% Cnstant Currency (10.0)% Asia $ $ (17.1)% Cnstant Currency (18.3)% Year-ver-year sales grwth rate excludes the impact f changes in freign currency exchange rates. Refer t Exhibit 99.2 (2) Adjusted frm histrical results t reflect the transfer f the embedded cmputing slutins business frm TS t EM EM's first quarter fiscal 2017 sales f $4.2 billin decreased 9.3% year ver year as reprted primarily due t a duble-digit decline in the Asia regin. Adjusting fr the extra week in the prir year quarter sales decreased 3.4% in cnstant currency. Americas' sales decreased 5.1% year ver year as reprted, and increased 1% year ver year adjusting fr the extra week in the prir year quarter. EMEA s sales decreased 5.3% in cnstant currency, and increased 1.7% in cnstant currency excluding the extra week in the prir year quarter. Asia s sales decreased 9.0% year ver year excluding the extra week in the prir year quarter, primarily due t expected declines in the regin s select high vlume supply chain engagements. EM's sales increased 3.5% sequentially in cnstant currency, which is abve the nrmal seasnal range f -2% t +2%. The abve seasnal grwth is primarily due t the ERP disruptin in the Americas regins in the prir quarter. TS' sales decreased 21.2% year ver year t $1.9 billin, primarily due t declines in server, strage and sftware. Adjusting fr the extra week in the prir year quarter, sales declined 13.8% in cnstant currency. After adjusting fr the extra week in the prir year quarter, sales in the Americas regin decreased 17.7% year ver year, and the EMEA and Asia regin declined 6.5% and 11.4%, respectively, in cnstant currency.

3 $ in millins - except per share data Octber 1, 2016 Operating Incme Q1' FY16 Q1' FY17 Y/Y Change Electrnics Marketing (EM) Ttal Operating Incme $ $ $ (31.2) Operating Incme Margin % (26) bps Technlgy Slutins (TS) Ttal Operating Incme $ 69.8 $ 42.7 $ (27.2) Operating Incme Margin % (66) bps Adjusted frm histrical results t reflect the transfer f the embedded cmputing slutins business frm TS t EM EM perating incme margin f 4.5% decreased 26 basis pints frm the year ag quarter primarily due t the year-ver-year decline in sales and frm higher perating csts incurred as a result f the ERP implementatin in the Americas regin. TS perating incme margin f 2.3% decreased 66 basis pints frm the prir year quarter primarily due t a decline in the Americas and EMEA regins, partially ffset by an imprvement in the Asia regin. Interest Expense, Other Incme (Expense) and Incme Taxes Interest Expense $ 22.0 $ 27.2 $ 5.2 Other Incme (Expense) $ 0.9 $ (13.7) $ (14.6) Incme Tax Expense - cntinuing peratins $ 37.8 $ 21.4 $ (16.4) Adjusted Incme Tax Expense $ 58.0 $ 44.7 $ (13.3) Effective Tax Rate - cntinuing peratins 25.4 % 23.8 % (162) bps Adjusted Effective Tax Rate 27.5 % 27.4 % (10) bps Refer t Exhibit Interest expense f $27.2 millin increased $5.2 millin frm the year ag quarter primarily due t interest expense incurred n the Cmpany s $550.0 millin 4.625% Ntes issued in March The Cmpany incurred $13.7 millin f ther expense in the first quarter f fiscal 2017 cmpared with $0.9 millin f ther incme in the first quarter f fiscal The year-ver-year increase in ther expense was primarily due t higher expenses incurred t hedge the freign currency purchase price f Premier Farnell. The adjusted effective tax rate f 27.4% in the first quarter f fiscal 2017 was cnsistent with adjusted effective tax rate in the first quarter f fiscal 2016.

4 $ in millins - except per share data Octber 1, 2016 Wrking Capital Q4' FY16 Q1' FY17 Y/Y Change Accunts Receivable $ 2,803.6 $ 2,876.3 $ 72.7 Inventries $ 2,589.7 $ 2,418.8 $ (170.9) Accunts Payable $ (1,616.7) $ (1,463.6) $ Wrking Capital- cntinuing peratins $ 3,776.6 $ 3,831.5 $ 54.9 Wrking Capital- discntinued peratins $ $ $ 97.4 Wrking capital (accunts receivable plus inventries less accunts payable) frm cntinuing peratins increased $54.9 millin sequentially. Inventries decreased $170.9 millin sequentially, r 6.6%, primarily due t a decline in the Americas regin cming ff elevated inventry levels in the prir quarter related t the ERP implementatin. Returns Return n Wrking Capital (ROWC) 20.9 % 16.2 % (473) bps Return n Capital Emplyed (ROCE) 11.2 % 8.9 % (232) bps Returns reflect bth cntinuing and discntinued peratins. Refer t Exhibit ROWC and ROCE declined year ver year primarily due t the decline in perating incme. Cash Flw Net Incme Cntinuing Operatins $ $ 68.6 $ (42.4) Nn-Cash Items $ 56.3 $ 56.3 $ - Wrking Capital and Other $ (194.8) $ (13.6) $ Cash Flw (Used in) frm Operatins - Cntinuing Operatins $ (27.5) $ $ Cash Flw Used in Operatins Discntinued Operatins $ (6.2) $ (111.4) $ (105.2) Net Cash Flw Used in Operatins $ (33.7) $ (0.1) $ 33.6 TTM CF frm peratins $ $ $ (332.8) The Cmpany generated $111.3 millin f cash frm cntinuing peratins during the first quarter f fiscal During the first quarter f fiscal 2017, the Cmpany did nt repurchase shares. Entering the secnd quarter f fiscal year 2017, the Cmpany had apprximately $174.9 millin remaining under the current repurchase authrizatin. During the first quarter f fiscal 2017, the Cmpany paid a dividend f $0.17 per share, r $21.7 millin in ttal. Cash and cash equivalents at the end f the first quarter f fiscal 2017 was $1.20 billin, f which $1.1 millin was held utside the United States; net debt (ttal debt less cash and cash equivalents) was apprximately $1.51 billin.

5 $ in millins - except per share data Octber 1, 2016 Frward-Lking Statements This dcument cntains certain frward-lking statements within the meaning f Sectin 27A f the Securities Act f 1933, as amended, and Sectin 21E f the Securities Exchange Act f 1934, as amended. These statements are based n management s current expectatins and are subject t uncertainty and changes in facts and circumstances. The frward-lking statements herein include statements addressing future financial and perating results f Avnet and may include wrds such as will, anticipate, intend, estimate, frecast, expect, feel, believe, shuld, and ther wrds and terms f similar meaning in cnnectin with any discussins f future perating r financial perfrmance, business prspects r market cnditins. Actual results may differ materially frm the expectatins cntained in the frwardlking statements. The fllwing factrs, amng thers, culd cause actual results t differ materially frm thse described in the frward-lking statements: the Cmpany s ability t retain and grw market share and t generate additinal cash flw, risks assciated with any acquisitin activities and the successful integratin f acquired cmpanies, the separatin and pending sale f the TS business, an industry dwn-cycle in semicnductrs, IT hardware r sftware prducts, declines in sales, changes in business cnditins and the ecnmy in general, changes in market demand and pricing pressures, any material changes in the allcatin f prduct r prduct rebates by suppliers, and ther cmpetitive and/r regulatry factrs affecting the businesses f Avnet generally. Mre detailed infrmatin abut these and ther factrs is set frth in Avnet s filings with the Securities and Exchange Cmmissin, including the Cmpany s reprts n Frm 10-K, Frm 10-Q and Frm 8-K. Except as required by law, Avnet is under n bligatin t update any frward-lking statements, whether as a result f new infrmatin, future events r therwise. Nn-GAAP Definitins and Recnciliatins A discussin n the impact f freign currency n the Cmpany s results f peratins, the definitin f rganic sales and a recnciliatin f nn-gaap financial infrmatin is attached as Exhibit 99.2 t the Current Reprt n Frm 8-K filed with the Securities and Exchange Cmmissin n Octber 27, 2016.