SANMINA AND RELIANCE COMPLETE PREVIOUSLY ANNOUNCED MANUFACTURING JOINT VENTURE IN INDIA

The joint venture supports “Make in India” initiative for advanced electronic equipment

SAN JOSE, CA. and Mumbai, India, October 3, 2022 /PRNewswire/ — Sanmina Corporation (Sanmina) (NASDAQ: SANM), a leading integrated manufacturing solutions company and Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of Reliance Industries Limited (RIL), india the largest private sector company, today announced that they have completed the previously announced joint venture transaction.

This partnership will leverage Sanmina’s 40 years of advanced manufacturing experience and Reliance’s expertise and leadership in the Indian business ecosystem. Day-to-day business will continue to be handled by Sanmina’s management team in Chennaiwhich will be transparent from the point of view of employees and customers.

The joint venture will create a world-class electronics manufacturing center in Indiain line with the “Make in Indiavision. The joint venture will prioritize high-tech infrastructure hardware, for growing markets and in sectors such as communication networks (5G, cloud infrastructure, hyperscale data centers), medical systems and healthcare, industrial and clean technologies, defense and aerospace.To support Sanmina’s existing customer base, the joint venture will create a state-of-the-art “manufacturing technology center of excellence” that will serve as an incubation center to support product development and the hardware startup ecosystem in Indiaas well as to promote research and innovation of cutting-edge technologies.

All manufacturing will take place on Sanmina’s 100-acre campus in Chennaiwith the ability to expand the site to support future growth opportunities as well as potentially expand to new manufacturing sites in India over time based on business needs.

About Sanmina:
Sanmina Corporation is a leading provider of integrated manufacturing solutions serving the fastest growing segments of the global Electronic Manufacturing Services (EMS) market. Recognized as a technology leader, Sanmina provides end-to-end manufacturing solutions, delivering superior quality and support to Original Equipment Manufacturers (OEMs), primarily in communication networks, cloud solutions, industrial markets , defence, medical and automotive. Sanmina has facilities strategically located in key regions around the world. More information about the company is available at www.sanmina.com.

About Reliance Strategic Business Ventures Limited (RSBVL):
RSBVL is a wholly owned subsidiary of Reliance Industries Limited. The main activities of RSBVL are the trading of goods and the holding of strategic interests in companies and the provision of business support services. RSBVL achieved a turnover of INR 1,478.1 crore ($194.9 million), net profit of INR 179.8 crore ($23.6 million) for the year ended March 31, 2022 and had a total investment of INR 10,857.7 crore ($1.4 billion) starting the March 31, 2022.

About Reliance Industries Limited (RIL):
Trust is india the largest company in the private sector, with a consolidated turnover of INR 792,756 crore ($104.6 billion), INR cash profit 110,778 crores ($14.6 billion), and the net profit of INR 67,845 crore ($9.0 billion) for the year ended March 31, 2022. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, renewable energy (solar and hydrogen), retail and digital services.

Currently ranked 104th, Reliance is the largest private sector company in India will be included in Fortune’s Global 500 list of “the world’s largest companies” for 2022. The company ranks 53rd in the Forbes Global 2000 ranking of “the world’s largest public companies” for 2022 – the largest among Indian companies. Listed as one of LinkedIn’s “Best Companies to Work For” India‘ (2021). Website: www.ril.com.

Sanmina Safe Harbor Statement:
Certain statements above constitute forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those projected in such statements due to a number of of factors, including when the joint venture was granted “Trusted Source” designation under the Government of India’s “Make in” program Indiainitiative, adverse changes in key markets that the joint venture will target, risks arising from international operations and other factors set forth in Sanmina’s annual and quarterly reports filed with the Securities Exchange Commission (“SEC”). has no obligation to (and expressly disclaims any obligation to) update or change any of the forward-looking statements made in this release, whether as a result of new information, future events or otherwise, except as required by law. requires otherwise.

Key contacts:


paige melching

Tushar Pania

sanmina

Reliance Industries Ltd.

SVP, Investor Communications

+ 91 9820088536

408-964-3610

[email protected]

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SOURCESanmina Corporation

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