CDW : Investor Presentation - Spring/Summer 2025

Published: 2025-05-07 08:30:07 ET CDW

Published on 05/07/2025 at 08:30

2025 | SPRING / SUMMER

Market-leading provider of integrated

NET SALES & GROSS PROFIT ($B)(2)

technology solutions to business, government, education and healthcare customers for 40 years

CAGR (2015 - 2024)

$2.5

$2.3

$2.7

$3.2

$3.0

$3.6

$4.6

$4.7

$4.7

$2.1

$16.2

$14.8

$20.8 $23.7 $21.4 $21.0

$18.5

Coworkers: ~11,500 US and ~3,600 international; over 2/3 are customer-facing(1)

Full stack of technology solutions and services across the entire IT lifecycle

Offers 100,000+ products and solutions from 1,000+ brands to more than 250,000

$13.0 $13.7

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

OPERATING INCOME ($M)(2)(3)

CAGR (2015 - 2024)

customers in the US, UK and Canada

"Sweet spot" is customers with <5,000

employees

US GAAP Operating Income: 9%

$2,051 $2,039 $1,947

Attractive business model with demonstrated track record of profitable growth

As of March 31, 2025.

Non-GAAP Operating Income: 8%

$1,645 $1,735

$1,405 $1,419

$1,179

$1,681

$1,651

$961

$1,368

$1,134

$742

$1,048

$820

$1,107

$867

$1,217

$987

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

2015 and prior years have not been adjusted to reflect the adoption of Topic 606 - FASB's accounting standards update on Revenue from Contracts with Customers.

Refer to Non-GAAP Reconciliations Deck on investor.cdw.com for reconciliation of non-GAAP measures for additional detail. 3

THREE-PART STRATEGY FOR GROWTH

1

Capture Share and Acquire New

Customers

2

Enhance Capabilities in High-Growth

Solutions Areas

3

Expand Services Capabilities

TOTAL ADDRESSABLE MARKET

Total US, UK and

Canada IT Market:

~$1,300B(1)

CDW Current

Addressable

Market:

~$440B(1)

The majority of the addressable market is highly fragmented across thousands of value-added resellers. CDW is an IT market leader, yet it holds a low share of its approximately $440 billion(1)addressable market.

CDW internal estimates as of December 2024. 4

($21.0B, -1.8%)

OTHER

(UK, Canada)

Great Recession 11% 3%

'08-'09 Change

0%

-4%

TOTAL

CHANGE

(11)%

HEALTHCARE

EDUCATION

(K-12,

Higher Ed)

$2.5B

+7.1%

$3.2B

-4.0%

$2.5B

-2.9%

$2.5B

-6.8%

$1.5B

-2.1%

CORPORATE

(>250 employees)

$8.8B

-1.4%

(Other includes ATS & Canada)

Great Recession Recovery

'09-'11 CAGR

(Other includes ATS & Canada)

IPO - 2019

'13-'19 CAGR(1)

(Other includes Canada & CDW UK)

-22%-18%

18%

43%

30% 29%

19% 14%

7%

3%

29%

+16%

7% 8% 12% 9%

5%

+9%

GOVERNMENT

(Federal, State & Local)

SMALL BUSINESS

(≤250 employees)

COVID-19

'19-'20 Change

(Other includes Canada & CDW UK)

-9% -7%

-12% -3%

+2%

2013 Net sales adjusted to reflect a comparable 2019 Net sales segmentation 5

Disclaimer

CDW Corporation published this content on May 07, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 07, 2025 at 12:29 UTC.