Coherent Corp. · NYSE:COHR

Coherent — Investor Day (March 2026)

41 slides from Coherent's investor day presentation, Mar 17, 2026

Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements relating to future events and expectations, including our expectations regarding our estimates and projections for our business outlook, each of which is based on certain assumptions and contingencies. The forward-looki
Slide 3: Agenda
AGENDA Jim Anderson Dr. Julie Sheridan Eng Dr. Beck Mason Dr. Sanjai Parthasarathi Chief Executive Officer Chief Technology Officer EVP, Semiconductor Devices Chief Marketing Officer Overview Scale Out & Scale Up Lasers & InP Capacity Scale Across Copyright 2026, Coherent. All rights reserved. NYSE
Slide 5: Photons are the Fabric of AI Datacenters
PHOTONS ARE THE FABRIC OF AI DATACENTERS Distance DATACENTER SCALE OUT Light SCALE UP SCALE ACROSS Electrical Data Rate Copyright 2026, Coherent. All rights reserved. NYSE I COHR 5
Slide 6: Entering a New Phase of Accelerated Growth
ENTERING A NEW PHASE OF ACCELERATED GROWTH Transceivers DCI Transceivers Transport/Transmission Optical Components Existing Growth 1.6T, 3.2T, 6.4T ZR/ZR+ Engines $50B+ SAM SAM estimates are for calendar 2030 based on 3rd party and internal estimates. Copyright 2026, Coherent. All rights reserved. N
Slide 7: Entering a New Phase of Accelerated Growth
ENTERING A NEW PHASE OF ACCELERATED GROWTH New Growth Optical Circuit Switch CPO/NPO Multi-rail Thermal Solutions Engines Adding $20B+ Incremental SAM New Revenue Now H2 2026 H1 2027 H2 2027 Transceivers DCI Transceivers Transport/Transmission Optical Components Existing Growth 1.6T, 3.2T, 6.4T ZR/Z
Slide 8: NVIDIA and Coherent Announce Strategic Partnership
NVIDIA and Coherent Announce Strategic Partnership to Develop Optics Technology to Scale Next-Generation Data Center Architecture Copyright 2026, Coherent. All rights reserved. NYSE I COHR 8
Slide 9: Key Growth Engines
KEY GROWTH ENGINES Transceivers CPO/NPO Optical Circuit Switch 1.6T, 3.2T, 6.4T SCALE OUT & SCALE UP Dr. Julie Sheridan Eng Chief Technology Officer Copyright 2026, Coherent. All rights reserved. NYSE I COHR 9
Slide 10: Key Growth Engines
KEY GROWTH ENGINES Transceivers CPO/NPO Optical Circuit Switch 1.6T, 3.2T, 6.4T SCALE OUT & SCALE UP Dr. Julie Sheridan Eng Chief Technology Officer InP EML InP CW/ELS 200G VCSELs LASERS & InP CAPACITY Dr. Beck Mason EVP, Semiconductor Devices Copyright 2026, Coherent. All rights reserved. NYSE I CO
Slide 11: Key Growth Engines
KEY GROWTH ENGINES Transceivers CPO/NPO Optical Circuit Switch 1.6T, 3.2T, 6.4T SCALE OUT & SCALE UP Dr. Julie Sheridan Eng Chief Technology Officer InP EML InP CW/ELS 200G VCSELs LASERS & InP CAPACITY Dr. Beck Mason EVP, Semiconductor Devices DCI Transceivers Transport/Transmission Multi-rail ZR/ZR
Slide 12: Next Phase of Accelerated Growth
NEXT PHASE OF ACCELERATED GROWTH Expansion of Photonics Broadest and Deepest Photonic Manufacturing Across the Datacenter Photonics Portfolio Expertise and Scale Copyright 2026, Coherent. All rights reserved. NYSE I COHR 12
Slide 14: Expanding Role of Optics in the Datacenter
EXPANDING ROLE OF OPTICS IN THE DATACENTER Scale Out • Heterogeneous environment SCALE OUT • Distances 10 m to 10 km • Flexibility very important • Pluggable transceivers primary form factor Scale Up • Closed system today, < 10 m SCALE UP • Copper today • Density, cost, and power prioritized • Trans
Slide 15: Optics Powers the Datacenter
OPTICS POWERS THE DATACENTER Pluggable Transceivers Offer Flexibility • Robust roadmap of increasing bandwidth density 800G • Standardized, multi-vendor ecosystem 1.6T • Easily serviceable • Defers architectural commitment 3.2T • Retains “pay as you grow” 6.4T Pluggable Transceivers Co-packaged Opti
Slide 16: Deep Datacom Technology Stack is a Competitive Advantage
DEEP DATACOM TECHNOLOGY STACK IS A COMPETITIVE ADVANTAGE Pluggable Capability Type CPO OPTICAL Transceiver TRANSCEIVER Assembly and Test Components and Modules   GaAs VCSELs   InP EMLs  n/a Sources InP CW Lasers   Integrated Circuits Detectors Source Lasers Passive Optics Silicon Photonics 
Slide 17: Market-Leading Roadmap for Pluggable Transceivers
MARKET-LEADING ROADMAP FOR PLUGGABLE TRANSCEIVERS 800G 1.6T 3.2T 6.4T Continued Accelerating In In Ramp Ramp Development Development Demo Demo Demo INDUSTRY FIRST 2026 2026 2026 VCSEL, EML & CW solutions Full suite of 1.6T transceivers 400G differential EML for New XPO Form Factor for OCS Optimized
Slide 18: Driving the Future of Pluggable Transceivers
DRIVING THE FUTURE OF PLUGGABLE TRANSCEIVERS Increasing Data Rate Increasing Density 400G Full Link Demo with InP EML Transceiver Demo in new XPO form factor Demo 2026 • Coherent InP differential 400G EML and 400G Demo InP Photodiode 400G Eye with Silicon Photonics 2026 INDUSTRY FIRST  Coherent InP
Slide 19: CPO is a SAM Expansion as Optics Replace Copper
CPO IS A SAM EXPANSION AS OPTICS REPLACE COPPER Silicon Photonics PIC CPO/NPO Module Fiber Attach Unit (FAU) SWITCH External Laser Source OR xPU Prism Micro Lens InP CW Laser Array Isolator Polarization- Maintaining Fiber $15B+ Thermoelectric Cooler (TEC) CPO SAM by 2030 Note: Lightcounting and inte
Slide 20: Broadest and Deepest Solution Set for CPO and NPO
BROADEST AND DEEPEST SOLUTION SET FOR CPO AND NPO Silicon Photonics/InP CW Laser VCSEL-Based CPO/NPO 400G InP CPO Engine with SOA 6.4Tb/s Silicon Photonics Fiber Attach Unit, Micro 2D Array Datacom VCSEL-based NPO 4 x 400G InP MZ with integrated SOA Socketed CPO Demo Lens Array, Polarization- VCSELs
Slide 21: Optical Circuit Switch Drives SAM Expansion
OPTICAL CIRCUIT SWITCH (OCS) DRIVES SAM EXPANSION Software Stack by Coherent Expanding use cases Integrated software for onboard control electronics and interface to customer  Software-defined topology reconfiguration to Software network management improve xPU utilization and availability  Fail-ov
Slide 22: Deeply Differentiated Optical Circuit Switch Technology
DEEPLY DIFFERENTIATED OPTICAL CIRCUIT SWITCH TECHNOLOGY Software Stack by Coherent Coherent Solution Other Solutions Integrated software for onboard control electronics and interface to customer Software network management Liquid Crystal Technology Microelectromechanical Systems (MEMS) Liquid Crysta
Slide 23: Advanced Materials for Thermal Management
ADVANCED MATERIALS FOR THERMAL MANAGEMENT CURRENT SOLUTIONS COHERENT THERMAL SOLUTIONS 1 Cold Plates (Copper) Copper limited thermal conductivity ThermaditeTM /Diamond Cold Plate Thermal conductivity 2 – 5X copper 2 Thermal Interface Material (TIM) High thermal resistance between chip and cold plate
Slide 25: 20-Year Technology Leader: Broad and Deep Laser Portfolio
20-YEAR TECHNOLOGY LEADER: BROAD AND DEEP LASER PORTFOLIO InP EMLs/DMLs InP CW Lasers/Silicon Photonics GaAs VCSELs 400 Gb/s Eye 212 Gb/s Eye • High volume producer of InP EMLs for • InP CW Lasers in production for Silicon • Leading supplier of VCSELs for in-feed, Datacenter Transceivers Photonics T
Slide 26: InP Production Sites
InP PRODUCTION SITES  First InP site – operations for over 2 decades FREMONT,  3” production lines CA  Coherent’s largest compound semi fab SHERMAN,  6” InP lines; multiple devices TX  InP fab operations for over 2 decades JARFALLA,  6” InP lines; multiple devices SWEDEN  Began as a GaAs fab
Slide 27: Growing InP Capacity
GROWING InP CAPACITY Unprecedented demand for InP devices – InP Output Capacity EMLs, CW Lasers, PDs, PICs…  Leading the industry with the most advanced InP lines  First 6” InP line in volume production  6” InP yields higher than 3” yields Doubling total production this year and next year  Rampi
Slide 28: InP EML Innovation
InP EML INNOVATION Transceivers  Technology leadership for 100G, 200G and 400G EMLs for 800G, 1.6T, 3.2T and 6.4T transceivers 6.4T  Market Leader in 100G and 200G EMLs  First to demonstrate 400G Differential EML  Advanced EML designs providing the highest level of 3.2T performance for demanding
Slide 29: Ramping High Power CW Lasers/ELS
RAMPING HIGH POWER CW LASERS/ELS High Power CW DFB Lasers for Scale out and Scale up  Producing efficient high-power lasers in high volume to power Silicon Photonic transceivers and CPO solutions  In full production, ramping 6” InP in Sherman, Texas  Specially designed for high yield & low noise
Slide 30: High Speed VCSELs
HIGH SPEED VCSELS Coherent is a world leader in VCSEL Technology 2D VCSEL Array  Delivering > 400 million VCSEL devices a year for Award datacenter and sensing applications 2026 Coherent VCSELs enabling the datacenter  Low power and cost  Data rates up to 200Gb/s  Back side emitting (BSE) VCSEL
Slide 31: Internally Developed Photodetectors are a Differentiator
INTERNALLY DEVELOPED PHOTODETECTORS ARE A DIFFERENTIATOR Transceiver Transceiver Advantages of Deep Vertical Tech Stack  Time to market Laser Detector  Innovation  Cost Detector Laser  Supply chain resilience Differentiation in Photodetectors (PDs):  World’s first 4x25G PD for 100G transceivers
Slide 33: Scale Across Networks
SCALE ACROSS NETWORKS SCALE OUT SCALE UP SCALE ACROSS TWO CRITICAL ENABLERS OF SCALE ACROSS Data Center Interconnect Transport Equipment  Power constraints are forcing AI workloads to be spread (DCI) Transceivers across multiple datacenters  Scale across is a high performance, low latency network
Slide 34: Deep Vertical Technology Stack for DCI Transceivers
DEEP VERTICAL TECHNOLOGY STACK FOR DCI TRANSCEIVERS DCI Capability Type Transceiver Assembly and Test Components and Modules  Tunable Laser  Sources Integrated Tunable Laser  nanoITLA IC-TROSA C++ IQ Modulator   Tunable laser  Tunable laser Modulators/PICs Silicon Photonics PIC   Semiconduct
Slide 35: Industry-Leading DCI Roadmap
INDUSTRY-LEADING DCI ROADMAP 100G 800G 1.6T 3.2T 400G In Production Ramping Now In Development In Development Award Award Award ECOC 26,25,23,22 25,22 25, 24 Industry’s First 100G Industry’s First 800G LR/ZR/ZR+/CL FR/LR/ZR/ZR+/CL ZR QSFP-28 ZR/ZR+ Q-DD AI Scale Across/Out AI Scale Across/Out Indust
Slide 36: Transport Equipment are Critical for Scale Across Networks
TRANSPORT EQUIPMENT ARE CRITICAL FOR SCALE ACROSS NETWORKS  Transport products carry, route, and monitor the optical signal from source to destination  Key functions include: • Multiplexing/Demultiplexing DCI LINKS • Amplification • Switching and routing • Monitoring  Deep vertical tech stack & b
Slide 37: Multi-Rail – Our Latest in a Long History of Transport Innovations
MULTI-RAIL – OUR LATEST IN A LONG HISTORY OF TRANSPORT INNOVATIONS Merchant Wavelength Blocker OCM Disaggregated Dual Chip Uncooled µPump Pluggable EDFA DGE Subsystems Pump Nano EDFA Optical Line Embedded OTDR Systems Award Award ECOC MULTI-RAIL 2025 2026 SYSTEMS PLATFORM “Most advanced Multi-Rail s
Slide 38: What are Multi-Rail Systems?
WHAT ARE MULTI-RAIL SYSTEMS ? Multi-rail delivers unprecedented efficiency improvement  More capacity within the same power and same real estate envelope CURRENT SYSTEMS  Sub-linear scaling of power OCM OCM DGE  Sub-linear scaling of volume OTDR OTDR  Network simplicity OCM OCM Fiber Hut DGE OTD
Slide 39: Multi-Rail Systems Demo at OFC '26
MULTI-RAIL SYSTEMS DEMO AT OFC ‘26 Our unique enabling technologies make Multi-rail a reality Award Award ECOC  Arrayed Amplification 2026 2025  Multi-port Dynamic Gain Equalizer (DGE)  Signal and Fiber Metrology $2B+  Multi-port OCM Component & Platform Awards  Multi-port OTDR  Management Res
Slide 40: Next Phase of Accelerated Growth
NEXT PHASE OF ACCELERATED GROWTH Expansion of Photonics Broadest and Deepest Photonic Manufacturing Across the Datacenter Photonics Portfolio Expertise and Scale Copyright 2026, Coherent. All rights reserved. NYSE I COHR 40

Coherent — Investor Day (March 2026) on 6ix

Coherent — Investor Day (March 2026)

Slide 1: Technology Innovation Briefing

Slide 2: Forward-Looking Statements

Slide 3: Agenda

Slide 4: Photonics is the Fabric

Slide 5: Photons are the Fabric of AI Datacenters

Slide 6: Entering a New Phase of Accelerated Growth

Slide 7: Entering a New Phase of Accelerated Growth

Slide 8: NVIDIA and Coherent Announce Strategic Partnership

Slide 9: Key Growth Engines

Slide 10: Key Growth Engines

Slide 11: Key Growth Engines

Slide 12: Next Phase of Accelerated Growth

Slide 13: Scale Out & Scale Up

Slide 14: Expanding Role of Optics in the Datacenter

Slide 15: Optics Powers the Datacenter

Slide 16: Deep Datacom Technology Stack is a Competitive Advantage

Slide 17: Market-Leading Roadmap for Pluggable Transceivers

Slide 18: Driving the Future of Pluggable Transceivers

Slide 19: CPO is a SAM Expansion as Optics Replace Copper

Slide 20: Broadest and Deepest Solution Set for CPO and NPO

Slide 21: Optical Circuit Switch Drives SAM Expansion

Slide 22: Deeply Differentiated Optical Circuit Switch Technology

Slide 23: Advanced Materials for Thermal Management

Slide 24: Lasers & InP Capacity

Slide 25: 20-Year Technology Leader: Broad and Deep Laser Portfolio

Slide 26: InP Production Sites

Slide 27: Growing InP Capacity

Slide 28: InP EML Innovation

Slide 29: Ramping High Power CW Lasers/ELS

Slide 30: High Speed VCSELs

Slide 31: Internally Developed Photodetectors are a Differentiator

Slide 32: Scale Across

Slide 33: Scale Across Networks

Slide 34: Deep Vertical Technology Stack for DCI Transceivers

Slide 35: Industry-Leading DCI Roadmap

Slide 36: Transport Equipment are Critical for Scale Across Networks

Slide 37: Multi-Rail – Our Latest in a Long History of Transport Innovations

Slide 38: What are Multi-Rail Systems?

Slide 39: Multi-Rail Systems Demo at OFC '26

Slide 40: Next Phase of Accelerated Growth

Slide 41: Q&A