Navitas Semiconductor Corporation · NASDAQ:NVTS

Navitas Semiconductor — Investor Presentation (March 2023)

36 slides from Navitas Semiconductor's investor presentation, Mar 7, 2023

  1. Slide 1: Electrify Our World: Pure-Play Next-Generation Power Semiconductors

    Navitas Semiconductor “Electrify Our World™” Pure-Play Next-Generation Power Semiconductors March 7th, 2023 © Navitas Semiconductor 2023 Contact: ir@navitassemi.com Note disclaimers. Information is as of the date specified only. Financial reporting and guidance as of Q4 2022 report (February 23rd, 2

  2. Slide 2: The Fossil Fuel Challenge

    The Fossil Fuel Challenge © Navitas Semiconductor 2023 © Navitas Semiconductor 2023 2

  3. Slide 3: The Electrified World

    The Electrified World © Navitas Semiconductor 2023 © Navitas Semiconductor 2023 3

  4. Slide 4: Pure-Play Next-Gen Power Semiconductors

    Pure-Play Next-Gen Power Semiconductors August 15th, 2022: Navitas Semiconductor, industry-leader in gallium nitride power ICs, acquired GeneSiC Semiconductor, silicon carbide pioneer and industry leader © Navitas Semiconductor 2023 4

  5. Slide 5: The Only Pure-Play, Next-Gen Power Semi Player

    The Only Pure-Play, Next-Gen Power Semi Player Up To Up To Up To Up To Up To Up To 20x 3x 40% 3x 3x 20% Faster Smaller & Energy Higher Faster Lower Switching Lighter Savings Power Charging System Density Cost Note: Navitas estimate of GaN- & SiC-based power systems compared to silicon in the 2024-20

  6. Slide 6: $22B 'Pure-Play' Market Opportunity

    $22B ‘Pure-Play’ Market Opportunity (1) Axes not to scale 1) 2026E potential, Source: Yole, DNV, IRENA, Fraunhofer ISE, IHS, Cisco, Hyperscale, Peer annual reports, Wall Street research. © Navitas Semiconductor 2023 6

  7. Slide 7: The Second Revolution in Power

    The Second Revolution in Power Linear Switching Switching HF Switching Regulators Regulators Regulators Regulators 50 Hz 30 kHz 65 kHz 1 MHz 100 Si Bipolar� Si FETs 95-98% (AC-DC converters ~300W) New Magnetics Power Density (W/in3) New Controllers New Topologies 10 2x Lower Loss 90% 3x Lower $/W 2x

  8. Slide 8: Accelerating Growth

    Accelerating Growth GaNSense Control 70M Shipped 50M Headcount, Valuation & Revenues Shipped Industry-First 150+ Patents World’s 1st GaNSense Half-Bridge World’s 20M EV 40M Smallest Shipped Design Shipped World’s Thinnest 300W Center Mass 45W USB-PD 120+ Data World’s Production Patents Center Smalle

  9. Slide 9: The GaN Revolution: Ultimate Integration

    The GaN Revolution: Ultimate Integration 1 MHz 500 kHz 200-300 kHz • Old, slow • External gate drive  Internal Gate • High Qg • dV/dt sensitivity  Integrated Gate Drive • High COSS • Layout sensitivity  dV/dt Immunity • FSW < 100 kHz • ESD sensitivity  Layout Insensitive GaNFast plus: • Unknown

  10. Slide 10: Navitas GaN IC: Smaller, Faster, Robust

    Navitas GaN IC: Smaller, Faster, Robust Discrete dMode GaN Discrete eMode GaN Navitas eMode GaN IC dMode GaN Discrete Silicon (3.7mm2) FET Integrates (3.8mm2) eMode GaN Discrete drive circuit Monolithic (4.5mm2) & more GaN IC Drive Circuit (in Silicon) (1.4mm2) • No extra circuits • No parasitics &

  11. Slide 11: Foundational Reliability

    Foundational Reliability • Design for Reliability • Integrated drive, sensing and protection • Component reliability, and system reliability • Testing for Reliability: • Proprietary production test methods • GaN ICs tested 400% (multi-temp, high-frequency) • Characterization for Reliability • Exhaus

  12. Slide 12: GaNFast Power ICs

    GaNFast Power ICs VDS(CONT) VDS(TRAN) RDS(ON) Family Part # Type Package (PQFN) (V) (V) (mΩ, typ) NV6113 300 NV6115 170 5x6 NV6117 120 NV6123 Single 650 800 300 NV6125 175 6x8 NV6127 125 NV6128 70 NV6152 450 NV6153 330 NV6154 260 5x6 NV6156 170 NV6158 120 Single 700 800 NV6132x 450 with NV6133x 330

  13. Slide 13: GaNSense Control

    GaNSense Control • Integrated LV Si controller + HV GaNSense power IC • Smaller, cooler, lighter fast chargers • Previously JV with Halo Micro(1) • Foundation for low-voltage, high- speed Si controller capability • Wide range of applications and markets • Smartphone chargers to data centers, home ap

  14. Slide 14: GaN Integration Drives Speed, Efficiency, Stability

    GaN Integration Drives Speed, Efficiency, Stability Discrete GaN Half-Bridge GaNSense Half-Bridge IC 61% fewer components • 33 components  13 components • 250 mm2 footprint  90 mm2 footprint • External HB driver HVIC 64% smaller  Level shifters • External HV bootstrap footprint  Bootstrap • 2x H

  15. Slide 15: True GaN Integration Drives Speed, Size

    True GaN Integration Drives Speed, Size Passive Components System GaN IC GaN MCM Passive ICs 45W Speed Components 50W Shrinks Passives System GaN Discrete IC in Multi-Chip- Module (MCM) GaN ICs 65 kHz 400 kHz Bobbin Transformer (23 mm thick) 6x Faster Planar Transformer (8 mm thin) Electrolytic Capa

  16. Slide 16: High Speed Shrinks Passive Components

    High Speed Shrinks Passive Components Typically, slow-speed designs have ~70% of volume High-speed GaN IC designs shrink Half-Bridge IC delivers used by transformer, capacitors, EMI filter, etc. ‘passive’ components by ~50%(1) ~2x the power, or ~2x faster charging in the same size(1) Transformer Tra

  17. Slide 17: 100% Tier 1 Mobile OEMs Adopting Navitas

    100% Tier 1 Mobile OEMs Adopting Navitas Tier 1 OEMs Aftermarket Examples 240+ 250+ 100% 70M+ GaN Chargers GaN Chargers Mobile OEMs Designing With Navitas GaN ICs Shipped(2) Mass Production(1) In Development(1) GaN ICs (1) as of Q4’22 report © Navitas Semiconductor 2023 17

  18. Slide 18: Now Ultra-Fast Chargers

    Now Ultra-Fast Chargers • Major trend • New, fast-growth market: $1B opportunity by 2025(1) • Full charge in <10 mins (200W) • Increased GaN$ per charger • World’s highest power density 120W, 150W, 200W, 240W RedMi (Xiaomi) F1 Mercedes 120W Realme (OPPO) GT Neo 3 150W iQOO (vivo) 10 Pro, 200W © Navi

  19. Slide 19: Powering the World's Fastest-Charging Smartphone

    Powering the World’s Fastest-Charging Smartphone © Navitas Semiconductor 2023 19

  20. Slide 20: GaNFast Exceeds Titanium, >2x Power Density

    GaNFast Exceeds “Titanium”, >2x Power Density • Euro ‘Titanium plus’ standard from January 1st, 2023(1) • Design Center: 4 platforms, 10 customer projects (1.3 kW, 1.6 kW, 2.7 kW, 3.2 kW CRPS(2)) • GaN can reduce electricity use by up to 10%,,save >15 TWh or $1.9B/yr (3) Slow Silicon AC-DC 3,200W Ga

  21. Slide 21: Patented Trench-Assisted Planar SiC MOSFETs

    Largest range of SiC FETs & diodes (650 V to 6.5 kV) Patented Trench-Assisted Planar SiC MOSFETs Highest efficiency hard-switch, soft-switch Lowest RDS(ON) at high temperature (Lowest EON, EOFF, EZVS losses) (25% lower than industry typical) Highest published capability to handle World-class surviva

  22. Slide 22: Broadest SiC FET Portfolio

    Broadest SiC FET Portfolio (1) 650–6,500V Trench-Assisted Planar SiC FETs Most 1,700V SiC FETs Supplier #2 Supplier #3 Supplier #4 • 50+ SiC MOSFETs, array of standard packages • Broadest industry offering for 1700V SiC MOSFETs • Only supplier with 650V to 6,500V SiC MOSFETs 1) based on GeneSiC volt

  23. Slide 23: Best High-Speed, High-Temp Performance

    Best High-Speed, High-Temp Performance Resistance Energy Loss Figure-of-Merit (Low number is better) Supplier RDS(ON) RDS(ON) EON EOFF EOSS EZVS Hard-Switching RDS @ 175°C x (EON+EOFF) Soft-Switching RDS @ 175°C x EZVS @ 25°C @ 175°C @ 25A @ 35A @ 800V EOFF-EOSS (mΩ) (Ω-µJ) (Ω-µJ) (mΩ) (µJ) (µJ) (µJ

  24. Slide 24: Faster, Cooler, Longer Lifetime

    Faster, Cooler, Longer Lifetime • GeneSiC trench-assisted planar FET vs. Competitor SiC FET • 1,200 V, 40 mΩ, D2pak in half-bridge • Represents 7.5 kW DC-DC converter (e.g. data center, EV) • 150 kHz switching = ~10x faster than Si IGBT example • GeneSiC: >80% energy savings (>3,000 kWh/yr) vs Si IG

  25. Slide 25: High Quality, High Reliability

    High Quality, High Reliability 100%-Tested Avalanche High Power Paralleling Long Short-Circuit Withstand Time Highest published capability to handle Matching currents World-class survival duration excess energy in fault condition (Stable VTH) in fault condition Risk Safe 1200V 20mΩ EAV > 2 J @ 175°C

  26. Slide 26: GaN + SiC for Solar & Energy Storage

    GaN + SiC for Solar & Energy Storage Solar Inverters 25°C cooler with GeneSiC Energy Storage 20 Customers in Development, Production Market Potential (2) • Residential Micro >$1.4B (GaN) • Residential String >$1.0B (SiC) • Commercial String >$1.0B (SiC) Navitas Strength & Opportunities • Solar up 3x

  27. Slide 27: Pure-Play EV: The Largest Opportunity

    Pure-Play EV: The Largest Opportunity >$11B/year Opportunity(1) Customers in Production, (On-board >$10B/yr + Roadside >$1B/yr) Development Navitas EV System Design Center • 5 platforms, for 10 customer projects, including: • 400V, 800V and 6.6-22 kW, bi-di charger (2-in-1), bi-di + DC-DC (3-in-1) •

  28. Slide 28: Home Appliance & Industrial

    Home Appliance & Industrial Legacy Si-Based Brush-less DC (BLDC) Navitas 300W Motor & Inverter for Washing Machine 3-phase Platform (~80% efficiency) for Inverter-Motor Integration • 2x higher frequency • >60% fewer components, PCB area • 95-97% efficiency • 80% energy savings vs Silicon BLDC • 90%

  29. Slide 29: High Capacity, 50% Shorter Lead-times

    High Capacity, 50% Shorter Lead-times(1) 70 • Tier-1 foundry partners, excellent manufacturing support • High yields, low costs, flexible supply chains • Long-term capacity agreements: GaN up 3x, SiC up 5x starting in 2023 • 50% shorter lead-times than industry typical 1) Industry lead-times per Jef

  30. Slide 30: High Volume, High Quality

    High Volume, High Quality May 2022 March 2022 Over 70,000,000 shipped,(1) Over 9,000,000 shipped,(1) (1) Shipments as of March 2023. © Navitas Semiconductor 2023 30

  31. Slide 31: Leader in Sustainability

    Leader in Sustainability(1) Every IC 4x-10x lower component CO2 footprint than silicon saves 28% lower lifetime CO2 footprint 4 kg CO2 for chargers / adapters Accelerates transition from ICE to EV by 3 years, saving 20%/yr of road-sector emissions by 2050 February ’22 First GaN sustainability report

  32. Slide 32: Mission: Electrify Our World

    Mission: Electrify Our World™ Energy sources and uses are being electrified… Energy Sources Energy Uses Use Fossil-Fuel Use 2020 2050 2020 2050 Power Semiconductor Opportunity ($B/yr) …creating a $40B SiC GaN + SiC opportunity GaN / SiC by 2050 GaN Si Si Fossil-fuel vs renewable ratios adapted from

  33. Slide 33: Navitas Fundamentals

    Navitas Fundamentals(1) • Industry’s only pure-play next-gen power semi company, $23B/yr market • Founded 2014, 220+ employees • Nasdaq: NVTS (IPO October 2021) • Leading power GaN IC and power SiC technology, 185+ patents • >70M GaN, >9M SiC Shipped • 3x (GaN), 5x (SiC) capacity expansion starting

  34. Slide 34: Revenue Growth, Diversification & Expansion

    Revenue Growth, Diversification & Expansion (1) Reflects results as of Q4’22 earnings report, February 23rd 2023 (not updated). © Navitas Semiconductor 2023 34

  35. Slide 35: Disclaimers

    Disclaimers FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (15 U.S.C. § 78u–5). Forward-looking statements may be identified by the use of words such as “we expect” or “are expected

  36. Slide 36: Disclaimers

    Disclaimers FINANCIAL INFORMATION; NON-GAAP FINANCIAL MEASURES This presentation includes financial information and data which are unaudited and do not conform to Regulation S-X promulgated under the Securities Act of 1933, as amended. Accordingly, such information and data may not be included in, m

Navitas Semiconductor — Investor Presentation (March 2023) on 6ix