Slide 1: Wolfspeed FY26 Q3 Earnings
Wolfspeed FY26 Q3 Earnings May 2026 © 2026 Wolfspeed, Inc. All rights reserved. Wolfspeed® and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed, Inc.
Slide 2: Non-GAAP Measures & Forward Looking Statements
NON-GAAP MEASURES & FORWARD LOOKING STATEMENTS Non-GAAP Financial Measures: This presentation highlights the Company's financial results on both a GAAP and a non-GAAP basis. The GAAP results include certain costs, charges and expenses that are excluded from non-GAAP results. By publishing the non-GA
Slide 3: Focused Strategy Building Momentum – Fiscal 3Q26 Highlights
FOCUSED STRATEGY BUILDING MOMENTUM – FISCAL 3Q26 HIGHLIGHTS Delivered FY26 Q3 revenue of $150 million, in line with guidance Grew AI Data Center revenue by ~30% sequentially Launched first commercially available 10 kV SiC power MOSFET for grid modernization, industrial electrification and AI data ce
Slide 4: New Era New Energy: Strategic Objectives
STRATEGIC OBJECTIVES 1. Advance Technology Leadership – by significantly improving the pace of innovation NEW ERA 2. Strict Financial Discipline – secure financial strength and stability through execution, doubling down on core end NEW ENERGY markets, and diversifying revenue in emerging, mid- and h
Slide 5: Progress in Technology Leadership
PROGRESS IN TECHNOLOGY LEADERSHIP Launched first commercially available 10kV SiC power MOSFET for grid modernization, industrial electrification and AI datacenter infrastructure • Unlocks architectural freedom, delivers unprecedented system durability, and advances access to reliable and sustainable
Slide 6: Maximizing Potential of Vertically Integrated 200mm SiC Supply Chain
MAXIMIZING POTENTIAL OF Marcy, NY VERTICALLY INTEGRATED Device Fabrication 200mm SiC SUPPLY CHAIN • Durham facilities now focused on materials production • Increasing earnings potential without significant additional CapEx Fayetteville, AR Module R&D, Manufacturing • Leveraging AI • Factory, supply
Slide 7: Application-Focused Go-To-Market Gaining Traction
APPLICATION-FOCUSED GO-TO-MARKET GAINING TRACTION Positioning Wolfspeed for growth as end-market demand accelerates Automotive Industrial & Energy Aerospace E- & Defense Materials mining ✓ Strengthened team and ✓ Grew AI Datacenter revenue ✓ Growth supported by ✓ Continuing to qualify focused strate
Slide 8: FY26 Q3 Financials
FY26 Q3 Financials © 2026 Wolfspeed, Inc. All rights reserved. Wolfspeed® and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed, Inc.
Slide 9: Refinancing & CFIUS Approval Significantly Decreased Debt & Cash Interest
REFINANCING & CFIUS APPROVAL SIGNIFICANTLY DECREASED DEBT & CASH INTEREST ~65% EXPECTED REDUCTION IN CASH INTEREST2 Annualized interest SIGNIFCANT TOTAL DEBT REDUCTION1 $400M ~65% reduction $210M ~$580M US GAAP Liability Reduction $145M $337 $534 FY26 Projected Post-Emergence Post Q3 FY26 Pre-Emerge
Slide 10: FY26 Q3 Financial Highlights
FY26 Q3 FINANCIAL HIGHLIGHTS Financial discipline while investing in technology leadership Income Statement Revenue Adj. EBITDA1 Op. Cash Flow & Cash $150M $(62)M $(84)M Flow Balance Cash Net CapEx Net Debt Sheet $1.2B $5M $555M Net of $33M NY ESD Subsidy © 2026 Wolfspeed, Inc. All rights reserved.
Slide 11: Fiscal 4Q26 Financial Outlook
FISCAL 4Q26 FINANCIAL OUTLOOK Revenue $140 million - $160 million Non-GAAP Gross Margin1 Expected to remain negative Operating Expenses Approximately flat quarter-over-quarter © 2026 Wolfspeed, Inc. All rights reserved. Wolfspeed® and the Wolfstreak logo are registered trademarks and the Wolfspeed l
Slide 12: Positioned to Win in Silicon Carbide
POSITIONED TO WIN IN SILICON CARBIDE Vertically Integrated Secure and stable, U.S. based SiC supply 200mm Footprint chain for materials and devices Diversifying Customer Doubling down on established SiC Base and Go-To- markets while scaling into emerging Market Channel high voltage applications Intr
Slide 13: Appendix
© 2026 Wolfspeed, Inc. All rights reserved. Wolfspeed® and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed, Inc.
Slide 14: Non-GAAP Reconciliation – Gross Margin
NON-GAAP RECONCILIATION – GROSS MARGIN © 2026 Wolfspeed, Inc. All rights reserved. Wolfspeed® and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed, Inc. 14
Slide 15: Non-GAAP Reconciliation – EBITDA and Adj. EBITDA
NON-GAAP RECONCILIATION – EBITDA AND ADJ. EBITDA © 2026 Wolfspeed, Inc. All rights reserved. Wolfspeed® and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed, Inc. 15