WOLF · Wolfspeed, Inc.

Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the third quarter of fiscal 2026. Business Highlights Continued sequential quarterly growth in AI data center applications of approximately 30%, reflecting a moderate but expanding part of the Company's business with meaningful long-term potential. Launched first commercially available 10 kV SiC power MOSFET for grid modernization, industrial electrification and AI data center infrastructure. Introduced next-gen TOLT portfolio to address growing AI data center demand. Durham facilities now focused on materials production, further increasing earnings potential of the site. CFIUS clearance and equity issuance to Renesas completes Chapter 11 procedures. Quarterly Financial Highlights Consolidated revenue of approximately $150 million, aligned with midpoint of guidance range. GAAP gross margin of (27)% and Non-GAAP gross margin of (21)%. GAAP net loss of $120 million and adjusted EBITDA of ($62) million. Operating cash flow of

Pursuant to the Company’s focus on strengthening its capital structure, the Company is raising capital from new and existing investors, with the proceeds intended to reduce highest cash cost debt, lower annual interest expense, and reduce total debt Gross proceeds from the Private Placements to redeem approximately $475.9 million of the outstanding Senior Notes Issues approximately $60.0 million of new shares of common stock at a 10.0% premium over the closing price on March 18, 2026 Efforts to strengthen the balance sheet support initiatives to diversify key end markets and capture opportunities in emerging high-voltage applications including AI data centers, industrial and energy, and aerospace and defense markets Wolfspeed, Inc. (NYSE: WOLF) (“Wolfspeed”) today announced that on March 19, 2026, it entered into separate, privately negotiated subscription agreements with investors pursuant to which Wolfspeed will place (i) $379,000,000 aggregate principal amount of its 3.5%

Wolfspeed is pleased to announce the appointment of Daihui Yu as regional president for Greater China, effective March 16, 2026. In this key leadership position, Yu will oversee the expansion of the company’s business across mainland China, Hong Kong and Taiwan, utilizing his substantial expertise to drive sales growth and strengthen our brand presence in the region. Yu holds a degree in electrical engineering from Wuhan University of Technology and an MBA from Tsinghua University. Prior to joining Wolfspeed, Yu served more than 12 years with Infineon Technologies as senior vice president and head of infrastructure and industry business for Greater China, managing regional sales and marketing functions. Before that, Yu spent 15 years at Schneider Electric in various sales and marketing management roles, accumulating comprehensive experience across diverse industries. He began his career as a control systems R&D engineer at the China Academy of Space Technology. As regional

Patent-pending innovations deliver scalable materials building blocks for advanced AI and high-performance computing packaging solutions Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology, today announced that its 300mm silicon carbide (SiC) technology platform could serve as a foundational materials enabler for advanced AI and high‑performance computing (HPC) heterogeneous packaging by the end of this decade. FIGURE 1. Conceptual demonstration of a large 100mm x 100mm interposer substrate enabled by Wolfspeed® 300mm SiC wafer. “As AI workloads continue to increase package size, power density, and integration complexity, we believe new materials foundations will be increasingly important to extend advanced packaging roadmaps,” said Elif Balkas, Chief Technology Officer at Wolfspeed. “Our 300mm silicon carbide platform is designed to align SiC’s material advantages with industry‑standard manufacturing infrastructure and expand the solution space for

Revolutionary 10 kV SiC Technology Delivers Game-Changing Solution for Grid Modernization, Industrial Electrification and AI Data Center Infrastructure Wolfspeed, Inc., a global leader in silicon carbide (SiC) technology, today announced the industry's first commercially available 10 kV SiC power MOSFET. This milestone marks a defining moment in the industry — unlocking architectural freedom, delivering unprecedented system durability, and advancing access to reliable and sustainable power for the world's most demanding applications. This groundbreaking advancement challenges conventions in power conversion technology, delivering a transformative solution to modernize the grid and critical power infrastructure, to accelerate industrial electrification, and to unleash the potential for AI data center growth. Wolfspeed's 10 kV Bare Die MOSFET “This represents a historic leap in power electronics that will reshape how the world generates, distributes, and uses energy, unlocking the

Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology and manufacturing, today announced the appointment of Stefan Steyerl as vice president of sales, EMEA. Effective March 1, 2026, Steyerl will develop and execute Wolfspeed’s regional sales strategy, driving adoption of silicon carbide solutions across automotive, industrial, and energy markets as Wolfspeed accelerates the adoption of silicon carbide technology to expand its market footprint and deliver revenue growth across the region. Steyerl brings more than 25 years of experience in the semiconductor industry, with a proven track record of building high-performance teams and achieving revenue growth across global markets. Most recently, he served as vice president of sales for EMEA at Allegro MicroSystems, where he developed and executed regional go-to-market strategies and strengthened executive-level customer relationships. Prior to that, Steyerl held senior leadership roles at Analog Devices, overseeing

By unifying factory, supply chain and enterprise data on Snowflake’s AI Data Cloud, Wolfspeed is improving manufacturing efficiency, quality and workforce training at scale. Wolfspeed, a global leader in silicon carbide technology, is expanding its use of Snowflake to accelerate manufacturing efficiency and operational excellence as it scales production to meet growing market demand. After bringing together factory, supply chain, and enterprise data on a single, governed platform, Wolfspeed is now deploying AI across its operations to improve cost, quality, speed, and workforce readiness. This marks a major step in Wolfspeed's vision to operate as a fully AI-integrated manufacturing enterprise. Wolfspeed is embedding Snowflake Cortex AI directly into day-to-day manufacturing and business decisions by applying intelligence — including specialized AI agents — across operations, supply chain, finance, and market analysis. By breaking down silos between operational and enterprise systems,

AI Datacenter Revenue up 50% QoQ $200 Million Annualized Operating Expense Reduction Compared to Q2 FY 2025 Capital Expenditures Down by 90% Year over Year Strong Balance Sheet Ending with $1.3 Billion in Cash, Cash Equivalents and Short-term Investments Wolfspeed, Inc. (NYSE: WOLF) today announced its results for the second quarter of fiscal 2026. Business Highlights Received approximately $700 million in Section 48D cash tax refunds and applied $175 million of the proceeds, net of make-whole premiums, toward the retirement of long-term debt. $1.3 billion of cash, cash equivalents and short term investments as of December 28, 2025. Working capital improvements (excluding liability management costs) contributing approximately $90 million. Further reduction of operating costs and capital expenditures ahead of plan resulted in a cumulative reduction of operating expenses of approximately $200 million on an annualized basis, with capital expenditures down 90%, compared to second quarter

Final 2.0% Equity Recovery Shares to be Released to Pre-Petition Shareholders Following Regulatory Clearance Renesas Executive to Join Wolfspeed Board of Directors as Part of Restructuring Agreement Wolfspeed, Inc., a global leader in silicon carbide technology and production (the “Company” or “Wolfspeed”), today announced that the Committee on Foreign Investment in the United States (“CFIUS”) has formally cleared the Company’s issuance of equity to Renesas Electronics America Inc. (“Renesas”), completing a key component of Wolfspeed’s previously announced restructuring agreement with its lender group in support of its Chapter 11 process. “CFIUS clearance represents the final milestone in the execution of our prepackaged restructuring,” said Wolfspeed CEO, Robert Feurle. “With this phase behind us, Wolfspeed is fully focused on broadening and diversifying our customer base, expanding our leadership in SiC power devices, and scaling with discipline across our global manufacturing

New TOLT (TO-Leaded, Top-Side Cooled) package, built on Wolfspeed’s Gen 4 MOSFET technology, enables higher power density and thermal performance for next-generation AI datacenters. Purpose-designed to meet the rapidly increasing power and cooling demands for AI and hyperscale datacenters, TOLT unlocks more efficient, scalable, and compact system architectures. TOLT joins the previously released U2 portfolio as the second of three Wolfspeed top-side cooled package families, aimed at one of the fastest-growing industry segments. Backed by Wolfspeed’s U.S.-based silicon carbide wafer manufacturing the TOLT solution provides customers with supply chain resilience and performance consistency at scale. Wolfspeed, Inc. (NYSE: WOLF), a global leader in silicon carbide technology, today introduced its new TOLT package portfolio, which enables maximum power density in a power supply for datacenter rack applications. The TOLT package is engineered to release heat from the top side of the

Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, will conduct a conference call and audio webcast to discuss its second quarter results on Wednesday, February 4, 2026, at 5:00 pm Eastern Standard Time. The call will be hosted by Robert Feurle, chief executive officer, and Gregor van Issum, chief financial officer. A live webcast of the earnings conference call along with the earnings release will be available on Wolfspeed’s Investor Relations website at https://investor.wolfspeed.com . About Wolfspeed, Inc. Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring

300mm SiC Technology, Enabling Scalable Platforms for AI Infrastructure, AR/VR, and Advanced Power Devices Announcement highlights: Strategic Technology Milestone – Wolfspeed has produced a single crystal 300mm (12-inch) silicon carbide wafer, representing a major advancement in the evolution of silicon carbide technology and a critical enabler for emerging applications. Technology leadership for Next-Gen Applications – Backed by one of the industry’s largest and most foundational silicon carbide IP portfolios, with over 2,300 issued and pending patents worldwide, Wolfspeed is accelerating the commercialization of 300mm technology to power next-generation platforms including AI infrastructure, augmented reality/virtual reality (AR/VR) and advanced power devices. Strengthening U.S. Semiconductor Leadership & Supply Chain Resilience – The company’s vertically integrated supply chain, from crystal growth to advanced packaging, supports national goals around compound semiconductor