BenchmarkInvestor PresentationNovember 2019

| 2

Forward-Looking StatementsThis document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “expect,” “estimate,” “anticipate,” “predict” and similar expressions, and the negatives thereof, often identify forward-looking statements, which are not limited to historical facts. Forward-looking statements include, among other things: guidance for 2019 results; statements, express or implied, concerning future operating results or margins, the ability to generate sales and income or cash flow; and Benchmark’s business and growth strategies and expected growth and performance. Although Benchmark believes these statements are based upon reasonable assumptions, they involve risks and uncertainties relating to operations, markets and the business environment generally. If one or more of these risks or uncertainties materializes, or underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Readers are advised to consult further disclosures on these risks and uncertainties, particularly in Item 1A, “Risk Factors”, of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and in its subsequent filings with the Securities and Exchange Commission. All forward-looking statements included in this document are based upon information available to the Company as of the date of this document, and it assumes no obligation to update them.

Non-GAAP Financial InformationThis document includes certain financial measures that exclude items and therefore are not in accordance with U.S. generally accepted accounting principles (“GAAP”). A detailed reconciliation between GAAP results and results excluding special items (“non-GAAP”) is included in the Appendix of this document. Management discloses non‐GAAP information to provide investors with additional information to analyze the Company’s performance and underlying trends. Management uses non‐GAAP measures that exclude certain items in order to better assess operating performance and help investors compare results with our previous guidance. This document also references “free cash flow”, which the Company defines as cash flow from operations less additions to property, plant and equipment and purchased software. The Company’s non‐GAAP information is not necessarily comparable to the non‐GAAP information used by other companies. Non‐GAAP information should not be viewed as a substitute for, or superior to, net income or other data prepared in accordance with GAAP as a measure of the Company’s profitability or liquidity. Readers should consider the types of events and transactions for which adjustments have been made.

| 3

Benchmark: Leading Global Provider of Services & Solutions

Founded:1986

Stock Symbol:NYSE: BHE

Employees:~10,300

Locations:8 countries

Sales Mix:55% United States45% International

Who We Are ► Global provider of engineering services, integrated technology solutions, and

manufacturing services for complex products

► Well positioned to capitalize on increasing outsourcing in higher-value markets: Industrial; Medical; Aerospace and Defense; and Semi - Cap

► Strong financial position with attractive cash flow generation and disciplined capital allocation

Our Value Creation Goals

► Continue portfolio transition to higher-value markets at the right balance of mix and profitability

► Revenue CAGR >10% annual revenue growth in higher-value markets

► Grow ROIC >12% target

► Continue to return FCF to shareholders

| 4

► Design for Manufacturability► Manufacturing Process and Test Development► Concurrent & Sustaining Engineering► Turnkey Product Design► Regulatory Services

LEAD with Engineering Services

Customer Engagement Approach to Drive Revenue & Profit

MERGE with Technical Solutions

UNIFY with Manufacturing Services

► Medical Platforms► Secure Defense Solutions► Surveillance Systems► RF & High Speed Design► IoT Front-End Architecture

► PCBAs, Modules, & Systems► Precision Machining and Grinding► Microelectronics► Logistics and Product Life Cycle Mgt.

Customer

CUSTOMER BENEFITS:• Faster Time-to-Market

• Ability to Prioritize Internal Resources on Differentiating Capabilities

• Multi-valued Partner

| 5

Scottsdale, AZ

Rochester, MN

Suzhou, China

Brasov, Romania

Fredericksburg, VANashua, NH

Angleton, TXTijuana, MexicoMoorpark, CA

Concord, CA

Ayudhaya, ThailandKorat, Thailand

Huntsville, AL

Guadalajara, Mexico

Fremont, CASanta Ana, CA

Tempe, AZ

Penang, Malaysia

Product Design & Engineering

Technology SolutionsElectronics ManufacturingInternational Purchasing Office

Benchmark Locations

Precision TechnologiesCorporate Headquarters

Almelo, The Netherlands

27 Locations8 Countries~10,300 Employees

Singapore

Austin, TX

Arden Hills, MN

Winona, MN

Phoenix, AZ

© 2018 Benchmark Electronics, Inc.| 6

Aging Population & Increasing Healthcare Needs► Advanced treatment therapies► Remote patient monitoring

► Effective pharmaceutical delivery

► Performance-based outcomes

Requirement for Higher Bandwidth and Speed► Application growth: Smart cities, IoT, asset tracking, autonomous driving

► Convergence of Defense and Telco process requirements

► Electronics value chain: higher chip demand and mixed SMT/ microelectronics subassemblies

Increase in Defense Spending► Upgrade of land, air, and sea platforms

► Sufficiency and capability of munitions

► Advanced electronic warfare and secure communications

► Soldier mobility and lethality

Market Trends Driving Opportunities for Benchmark

Demand for Higher Quality but More

Affordable Healthcare

Deployment of 5G Wireless Technology

Modernization and Refurbishment of

the Military

© 2018 Benchmark Electronics, Inc.| 7

Investments in Differentiation

Aligning Benchmark to Take Advantage of Market Trends2018 Results*

Turnkey Product DesignQualcomm Partnership

Medical PlatformsFDA Regulatory Mgt.

Medical$394M

Secure Defense Platforms RF & High Speed Design

MicroelectronicsSurveillance Systems

A&D$406M

Engineering ServicesIoT Front-End

RF & High Speed DesignMicroelectronics

Telco$337M

Industrial$493M

Semi-Cap$355M

Demand for Higher Quality but More

Affordable Healthcare

Deployment of 5G Wireless Technology

Modernization and Refurbishment of

the Military

*Based on Company results as of 12/31/18; does not include Computing

| 8

Focus on $200B Available Market that is <25% Outsourced

Market Sectors We Serve

High

er-V

alue

Mar

kets

Trad

ition

al67%

33%

Industrials

Aerospace & Defense

Medical

Semi-Cap

Telecommunications

High-End Computing

% Revenue LTM as of 9/30/19

• Industrial Automation• Kiosks• Robotics

• Munitions• Ground Vehicles and Aircraft• Secure Communications

• Device Monitors and Programmers• Pumps, Infusion and Glucose Products• Imaging Products

• Satellite Communications Products• Microwave Systems• High-Speed Optical Assemblies

• High-Performance Computing• Data-Center/Cloud Products

• Semi-Capital Equipment

| 9

• Complexity• Increasing outsourcing• Engineering-led solutions• Longer product lifecycles• High-mix/lower-volume skills• Higher-value add

• Fully outsourced• Software replacing hardware• Manufacturing solutions• Shorter product lifecycles• Mid-mix/mid-volume skills• Higher customer concentration

Traditional Market Revenue ($M)

Higher-value Market Revenue ($M)

We are Successfully Transitioning to Higher-value MarketsTraditional Market Characteristics

Higher-value Market Characteristics

$1,416 $1,176$819 $846 $918

51% 46% 35% 35% 36%

10.0%

30.0%

50.0%

70.0%

90.0%

110.0%

130.0%

150.0%

170.0%

190.0%

0

500

1,000

1,500

2,000

2014 2015 2016 2017 2018 Target

$1,381$1,365 $1,503$1,608$1,648

49% 54% 65% 65% 64%

10.0%

30.0%

50.0%

70.0%

90.0%

110.0%

130.0%

150.0%

170.0%

190.0%

0

500

1,000

1,500

2,000

2,500

3,000

2014 2015 2016 2017 2018 Target

25%

75%

| 10

9482

67 68 700

0.2

0.4

0.6

0.8

1

1.2

50

60

70

80

90

100

110

120

2015 2016 2017 2018 LTM9/30/19

Revenue & GAAP Gross Margins ($M)

GAAP Operating Margin ($M)

Transition Improves Customer Diversification and GAAP Margins

GAAP SG&A ($M)

Cash Conversion Cycle (days)**

2,541 2,322 2,454 2,566 2,417

8.6% 9.2% 9.2% 8.6% 8.9%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2015 2016 2017 2018 LTM9/30/19

107 116 130 143 138

4.2%5.0% 5.3% 5.6% 5.7%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

0

20

40

60

80

100

120

140

160

180

200

2015 2016 2017 2018 LTM9/30/19

93.0 76.9 76.8 58.5 53.1

3.7% 3.3% 3.1%2.3% 2.2%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

0.0

50.0

100.0

150.0

200.0

2015 2016 2017 2018 LTM9/30/19

** Trailing four quarter average at December 31, except LTM 9/30/19

| 11

9482

67 68 700

0.2

0.4

0.6

0.8

1

1.2

50

60

70

80

90

100

110

120

2015 2016 2017 2018 LTM9/30/19

Revenue & Non-GAAP Gross Margins ($M)

Non-GAAP Operating Margin ($M)*

Transition Improves Customer Diversification and Non-GAAP Margins

Non-GAAP SG&A ($M)

Cash Conversion Cycle (days)**

2,541 2,322 2,454 2,566 2,417

8.6% 9.2% 9.2% 8.6% 8.9%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

2015 2016 2017 2018 LTM9/30/19

107 113 129 141 1404.2% 4.9% 5.2% 5.5% 5.8%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

0

20

40

60

80

100

120

140

160

180

200

2015 2016 2017 2018 LTM9/30/19

111.9 101.2 98.2 79.9 74.8

4.4% 4.4% 4.0%3.1% 3.1%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

0.0

50.0

100.0

150.0

200.0

2015 2016 2017 2018 LTM9/30/19

* The above excludes the impact of amortization of intangible assets – See Appendix 1 ** Trailing four quarter average at December 31, except LTM 9/30/19

| 12

$41329%

$33124%

$65847%

Repurchases Capex

ROIC: Key Determinant of Capital Allocation StrategyCumulative capital allocation FY11– Q319

► Organic growth through targeted investments to extend business model to attractive market opportunitiesC

apex

► Fund investments in bolt-on M&A to expand technical skills for core capability expansionM

&A

► Share repurchases optimized for returns based on applicable law

► 49th consecutive quarter of share repurchases► Cumulative $658mm+ (91% of FCF1) spent

Shar

e Re

purc

hase

s

1 Free cash flow (FCF) defined as net cash provided by operations (GAAP) less capex (see Appendix 2 for reconciliation)

M&A

Disciplined and shareholder-friendly approach to capital allocation

© 2018 Benchmark Electronics, Inc.| 13

Capital Allocation Update

Dividends► Recurring quarterly dividend of $0.15 per share declared► Dividend of $5.7 million paid in July 2019

Share repurchases► Share repurchases of $118 million completed as of September 30,

2019► Remaining authorization to repurchase shares of $83 million at

September 30, 2019

| 14

Our Long-Term Strategy and Value Proposition

Portfolio Management

Margin Expansion

Balanced Capital

Deployment

Revenue CAGR >10% Annual Growth in Higher-value Markets

► Transitioning our Portfolio to Markets with Higher Growth Rates and Margins• Industrials• Aerospace and Defense• Medical Technologies• Semi - Cap

EPS Growth Faster than Revenue Growth► Leading with Engineering and Solutions► Driving LEAN and Operational Excellence Initiatives► Optimizing Cost Structure and Capacity

Continue to Return Free Cash Flow to Shareholders► Disciplined capital allocation program emphasizing ROIC accretion from:

• Targeted Strategic Organic Investments• Close-to-Core (Higher-Value) and Highly Adjacent M&A• Share Repurchases• Recurring Quarterly Cash Dividend

Long-term Strategy Drives ROIC >12% Target

| 15

Appendices

| 16

Appendix 1: GAAP to Non-GAAP Reconciliations

1 Equals line item immediately above divided by revenue (GAAP)

(in millions) 2014 2015 2016 2017 2018

Revenue (GAAP) $2,797.1 $2,540.9 $2,322.3 $2,454.5 $2,566.5

Income from operations (GAAP) $100.1 $93.0 $76.9 $76.8 $58.5

Operating margin (GAAP) 1 3.6% 3.7% 3.3% 3.1% 2.3%Restructuring charges, integration and acquisition costs and other costs 7.1 13.9 12.5 8.6 9.4 Amortization of intangibles 3.8 5.0 11.8 10.1 9.5 Asset impairment charge and other (1.5) - - - - Thailand flood-related items, net of insurance (1.6) - - - - Customer bankruptcy 5.0 - - 2.7 2.5 Non-GAAP income from operations $112.9 $111.9 $101.2 $98.2 $79.9

Non-GAAP operating margin 1 4.0% 4.4% 4.4% 4.0% 3.1%

Net income (GAAP) $81.2 $95.4 $63.9 ($31.9) $22.8Restructuring charges, integration costs and other costs 7.1 13.9 12.5 8.6 9.4 Amortization of intangibles 3.8 5.0 11.8 10.1 9.5 Asset impairment charge and other (1.5) - - - - Refinancing of credit facilities - - - - 2.0 Thailand flood-related items, net of insurance (1.6) - - - - Customer bankruptcy 5.0 - - 2.7 2.5 Tax cuts & Jobs Act - - - 97.6 26.0 Income tax adjustments (3.3) (5.5) (7.6) (6.3) (4.6) Discrete tax benefits - (21.2) (8.3) - - Non-GAAP net income $90.7 $87.6 $72.3 $80.8 $67.6

Net cash provided by operations (GAAP) $135.4 $146.8 $273.1 $145.8 $76.7Additions to property, plant & equipment and software 45.4 38.1 32.3 54.5 66.7 Free Cash Flow $90.0 $108.7 $240.8 $91.3 $10.0

Free cash flow margin 1 3.2% 4.3% 10.4% 3.7% 0.4%

© 2018 Benchmark Electronics, Inc.| 17

APPENDIX 2 - Reconciliation of Free Cash Flow(Amounts in Thousands) – (UNAUDITED)

Three Months EndedSep 30, 2019 Jun 30, 2019 Sep 30, 2018

Net Cash Provided by (Used in) Operations $ (11,458) $ 52,358 $ (1,111)Additions to property, plant and equipment and software (10,447) (5,421) (14,570)

Free Cash Flow (Free Cash Flow Used) $ (21,905) $ 46,937 $ (15,681)