Slide 1: 4Q 2025 Earnings Conference Call
4Q 2025 Earnings Conference Call February 4, 2026 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
Slide 2: Notes on Forward-Looking Statements
NOTES ON FORWARD-LOOKING STATEMENTS 2 Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other sim
Slide 3: Revenue Mix By End Market
3 Revenue Mix By End Market INDUSTRIAL + 3% QoQ + 18% YoY AUTOM OTIVE - 3% QoQ + 5% YoY 5% 5% 5% 10% 10% 11% ▸ Increased shipments of high voltage DC ▸ Asia was strong power capacitors ▸ Seasonal low pull rates in the Americas 16% 15% 14% ▸ Multi product inventory replenishment and Europe versus Q3
Slide 4: Revenue Mix By Sales Channel
4 Revenue Mix By Sales Channel 6% 6% 7% D I S T R I B U T I O N + 1 QoQ + 20% YoY OEM + 1% QoQ + 4% YoY ▸ Strong automotive and AI demand in Asia ▸ Strong demand from automotive ▸ Strong order intake from industrial and customers in Asia 37% 37% 40% aerospace customers in the Americas and ▸ Volume g
Slide 5: Revenue Mix By Region
5 Revenue Mix By Region EUROPE 0% QoQ + 9% YoY ASIA + 4% QoQ + 21% YoY 24% 24% 26% ▸ Flat with Q3 due to seasonal slow down, ▸ Strong growth compared to both Q3 and somewhat offset by improved industrial Q4 2024 power demand 44% 43% 41% AM ERICAS 0% QoQ + 3% YoY 32% 33% 33% ▸ Flat with Q3 due to sea
Slide 6: 4Q 2025 Highlights
66 4Q 2025 Highlights TOTAL REVENUES ($M) 4Q 2025 REVENUES 4Q 2025 BOOK-TO-BILL 850 $800.9 M 1.20 800 800.9 790.6 1.27 FOR SEMICONDUCTORS 750 GROSS MARGIN 714.7 19.6% FOR PASSIVE 1.13 COMPONENTS 700 including negative impact of approximately 130 bps 650 related to Newport 600 $0.01 EPS BACKLOG AT 55
Slide 7: Income Statement Highlights
4Q 2025 77 Income Statement Highlights Operating EBITDA Effective Gross Margin SG&A EPS Margin Margin Tax Rate Expenses 19.6% Including ~130 basis $142.0 M 1.8% 8.8% 82.3% $0.01 impact of Newport Normalized Adjusted Effective EPS Tax Rate 82.3% $0.01
Slide 8: Segment Results ($M)
Segment Results ($M) 88 MOSFETs DIODES OPTO REVENUES GROSS BOOK TO GROSS BOOK TO REVENUES GROSS BOOK TO MARGIN BILL REVENUES MARGIN BILL MARGIN BILL 4Q 2025 172.6 13.8% 1.48 4Q 2025 154.2 20.3% 1.09 4Q 2025 55.7 15.0% 1.12 3Q 2025 167.1 10.1% 0.86 3Q 2025 149.6 20.3% 1.07 3Q 2025 55.6 22.9% 0.93 4Q
Slide 9: Cash Conversion Cycle
9 Cash Conversion Cycle DSO DIO DPO CASH CONVERSION CYCLE 60 40 109 130 128 110 107 108 130 125 53 53 34 100 30 31 120 50 48 30 110 90 100 40 80 20 90 70 80 30 60 10 70 50 60 20 40 0 50 4Q25 3Q25 4Q24 4Q25 3Q25 4Q24 4Q25 3Q25 4Q24 4Q25 3Q25 4Q24
Slide 10: Cash Flow Generation
10 Cash Flow Generation 10 CASH FLOW FROM OPERATIONS ($/M) CAPEX ($/M) 160 149.4 200 184.3 160 144.9 400 173.7 140 320.1 120 300 120 273.3 94.8 80 67.7 100 100 80 200 64.6 61.6 40 27.6 60 52.3 16.1 40 100 0 20 (8.8) -40 0 0 0 4Q 3Q 2Q 1Q 4Q TTM TTM 4Q 3Q 2Q 1Q 4Q TTM TTM 2025 2024 2025 2024 2025 202
Slide 11: Guidance 1Q 2026
11 Guidance 1Q 2026 REVENUE GROSS MARGIN SG&A 19.9% $153 M $800 - $830 M +/- 50 bps Newport Impact +/- $2 M Negative 50 - 75 bps I N C O M E TA X E X P E N S E CAPEX 2026 $2 - $4 M $400 - $440 M
Slide 12: Strategic Growth Levers
12 12 Strategic Growth Levers SERVED MARKETS Internal Capacity Enhanced Expansion Channel Management External Capacity Expansion Broaden Innovation our Portfolio Optimizing Global Vishay Solutions Manufacturing Footprint Increased M&A Technical Headcount
Slide 13: Summary
Summary • Capacity ready to capture early stages of market upturn • Well positioned to capitalize on demand in high growth markets: • Automotive—electrification, hybrid, EV • AI server and AI server power • Smart grid infrastructure and industrial power • Aerospace & defense • Healthcare • Creating
Slide 14: Appendix
Appendix 4Q 2025 Earnings Conference Call
Slide 15: FY 2025 Highlights
15 15 FY 2025 Highlights TOTAL REVENUES ($M) FY 2025 REVENUES ($0.07) EPS 3800 $3,069.0 M 3400 $3,402.0 ($0.05) Adjusted EPS $3,069.0 $2,937.6 3000 GROSS MARGIN 19.4% 2600 including negative impact of approximately 160 bps 2200 related to Newport 1800 1400 1000 FY 2025 FY 2024 FY 2023
Slide 16: Revenue Mix: FY 2025
16 Revenue Mix: FY 2025 Revenue Mix by End Revenue Mix by Sales Revenue Mix by Region Markets Channel 5% 5% 5% 7% 7% 7% 10% 11% 8% 24% 26% 26% 15% 13% 16% 37% 39% 40% 35% 42% 39% 37% 35% 37% 56% 54% 53% 35% 34% 36% 34% 35% 37% FY 2025 FY 2024 FY 2023 FY 2025 FY 2024 FY 2023 FY 2025 FY 2024 FY 2023 I
Slide 17: Hundreds
17 Product Type 2025 CERTIFIED PRODUCTS 100% Hundreds 18% 26% small number of competitors with similar 33% 80% products (qualifications such as automotive, military, UL) 26% 37% 60% 16% COMMODITY PRODUCTS 40% completely interchangeable with competitors’ products 48% 51% 20% 45% CUSTOM PRODUCTS 0% Vi
Slide 18: Trusted by…
18 18 Trusted by… OEM EMS DISTRIBUTION
Slide 19: We are proud to be the go-to manufacturer for engineers
19 19 We are proud to be the go-to manufacturer for engineers to innovate with ease and confidence that The DNA of tech® is behind them all the way. In power applications, we can supply DISCRETE SEMICONDUCTORS P AS S I V E C O M P O N E N T S L O W E S T V O L T AG E D I O D E H I G H E S T E N E R
Slide 20: Investing in Capacity Readiness
Investing in Capacity Readiness $/M 400 5–9% 9–13% Invested $0.9 billion, 12% 2023–2025 70% of CapEx in capacity expansion 8% Focused on 200 growth product lines 4% RESULTS Reliably supply customers Re-engage with inactive 0 0% customers 2017 2018 2019 2020 2021 2022 2023 2024 2025 Drive new custome
Slide 21: P&L 4Q 2025 3Q 2025 4Q 2024
P&L 21 21 IN MILLIONS (Except Per Share Amounts) 4Q 2025 3Q 2025 4Q 2024 Net Revenues $800.9 $790.6 $714.7 Cost of Products Sold 644.1 636.8 572.6 Gross Profit 156.8 153.9 142.1 Gross Margin 19.6% 19.5% 19.9% SG&A 142.0 134.7 132.3 Impairment of goodwill - - 66.5 Operating Income (Loss) 14.8 19.1 ($
Slide 22: P&L FY 2025 FY 2024
P&L IN MILLIONS (Except Per Share Amounts) FY 2025 FY 2024 22 22 Net Revenues $3,069.0 $2,937.6 Cost of Products Sold 2,474.2 2,311.3 Gross Profit 594.9 626.3 Gross Margin 19.4% 21.3% SG&A** 538.0 513.6 Restructuring and Severance Costs - 40.6 Impairment of goodwill - 66.5 Operating Income 56.9 5.6
Slide 23: Reconciliation of Adjusted Net Earnings
Reconciliation of Adjusted Net Earnings 23 23 IN MILLIONS (Except Per Share Amounts) 4Q 2025 3Q 2025 4Q 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders $1.0 ($7.9) ($66.3) Reconciling items affecting operating income: Impairment of Goodwill - - 66.5 Reconciling items affecting tax
Slide 24: Reconciliation of Adjusted Net Earnings
Reconciliation of Adjusted Net Earnings 24 24 IN MILLIONS (Except Per Share Amounts) FY 2025 FY 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders ($9.0) ($31.2) Reconciling items affecting operating income: Favorable Resolution of Contingency ($11.3) - Impairment of Goodwill - 66.5 R
Slide 25: Reconciliation of Free Cash
Reconciliation of Free Cash 25 25 IN MILLIONS 4Q 2025 3Q 2025 4Q 2024 Net Cash Provided by Operating Activities $149.4 $27.6 $67.7 Proceeds From Sale of Property and Equipment 0.3 0.4 1.6 Less: Capital Expenditures (94.8) (52.3) (144.9) Free Cash $54.9 ($24.3) ($75.6) © VISHAY INTERTECHNOLOGY, INC.
Slide 26: Reconciliation of Free Cash
Reconciliation of Free Cash 26 26 IN MILLIONS FY 2025 FY 2024 Net Cash Provided by Operating Activities $184.3 $173.7 Proceeds From Sale of Property and Equipment 1.2 3.0 Less: Capital Expenditures (273.3) (320.1) Free Cash ($87.8) ($143.4) © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
Slide 27: Reconciliation of EBITDA
Reconciliation of EBITDA 27 27 IN MILLIONS 4Q 2025 3Q 2025 4Q 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders $1.0 ($7.9) ($66.3) Net Earnings Attributable to Noncontrolling Interests - - 0.2 Net Earnings (Loss) $1.0 ($7.9) ($66.1) Interest Expense $9.7 $9.5 $7.7 Interest Income (2
Slide 28: Reconciliation of EBITDA
Reconciliation of EBITDA 28 28 IN MILLIONS FY 2025 FY 2024 GAAP Net Earnings (Loss) Attributable to Vishay Stockholders ($9.0) ($31.2) Net Earnings Attributable to Noncontrolling Interests - 1.4 Net Earnings (Loss) ($9.0) ($29.8) Interest Expense 38.7 27.5 Interest Income (13.4) (25.5) Income Taxes
Slide 29: Vishay
Vishay The DNA of tech ® © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.