Wolfspeed Investor Day

1 Wolfspeed CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , O V E M B E R 1 7 , 2 0 2 1 Wolfspeed Investor DayWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , Y L E R G R O N B A C H , VPO F I N V E S T O R R E L A T I O N S WelcomeWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , STATEMENTS AND NON-GAAPMEASURESNote on Forward-Looking StatementsThispresentationincludesforwar d-lookingstatementsaboutWolfspeed sbusinessoutlook,futurefinancialresultsa ndtargets,productmarkets,plansandobjecti vesforfutureoperations, ,bothknownandunknown,thatmaycauseactualr esultstodiffermaterially, (SEC).

2 Importantfactorsthatcouldcauseactualresu ltstodiffermateriallyincluderisksrelatin gtotheongoingCOVID-19pandemic,includingt heriskofnewanddifferentgovernmentrestric tionsthatlimitourabilitytodobusiness,the riskofinfectioninourworkforceandsubseque ntimpactonourabilitytoconductbusiness,th eriskthatoursupplychain,includingourcont ractmanufacturers,orcustomerdemandmayben egativelyimpacted,theriskposedbyvacciner esistanceandtheemergenceoffast-spreading variants,theriskthattheCOVID-19pandemicw illleadtoaglobalrecessionandthepotential forcostsassociatedwithouroperationsdurin gcurrentandfutureyearstobegreaterthanwea nticipateasaresultofallofthesefactors;th eriskthatwemaynotobtainsufficientorderst oachieveourtargetedrevenues;theriskthatt hemarketsforourproductswillnotdevelopasw eexpect,includingtheadoptionofourproduct sbyEVmanufacturers;theriskthatourdevicep ipelinewillnotconvertintoordersandrevenu eattheratesthatwehaveassumedorhistorical lyexperienced;pricecompetitioninkeymarke ts;theriskthatwemayexperienceproductiond ifficultiesthatprecludeusfromshippingsuf ficientquantitiestomeetcustomerordersort hatresultinhigherproductioncosts,loweryi eldsandlowermargins;ourabilitytolowercos ts;theriskthatourresultswillsufferifwear eunabletobalancefluctuationsincustomerde mandandcapacity,includingbringingonaddit ionalcapacityonatimelybasistomeetcustome rdemand;theriskthatlongermanufacturingle adtimesmaycausecustomerstofulfilltheiror derswithacompetitor'sproductsinstead;pro ductmix.

3 Risksassociatedwiththeramp-upofproductio nofournewproducts,andourentryintonewbusi nesschannelsdifferentfromthoseinwhichweh avehistoricallyoperated;risksassociatedw ithourfactoryoptimizationplanandconstruc tionofanewdevicefabricationormaterialsma nufacturingfacilities,includingdesignand constructiondelaysandcostoverruns,issues ininstallingandqualifyingnewequipmentand rampingproduction,poorproductionprocessy ieldsandqualitycontrol,andpotentialincre asestoourrestructuringcosts;theriskthatw eorourchannelpartnersarenotabletodevelop andexpandcustomerbasesandaccuratelyantic ipatedemandfromendcustomers,whichcanresu ltinincreasedinventoryandreducedordersas weexperiencewidefluctuationsinsupplyandd emand;theriskthattheeconomicandpolitical uncertaintycausedbythetariffsimposedbyth eUnitedStatesonChinesegoods,andcorrespon dingChinesetariffsandcurrencydevaluation inresponse,maynegativelyimpactdemandforo urproducts;risksrelatedtointernationalsa lesandpurchases;ongoinguncertaintyinglob aleconomicconditions,infrastructuredevel opmentorcustomerdemandthatcouldnegativel yaffectproductdemand,collectabilityofrec eivablesandotherrelatedmattersasconsumer sandbusinessesmaydeferpurchasesorpayment s,ordefaultonpayments;risksresultingfrom theconcentrationofourbusinessamongfewcus tomers,includingtheriskthatcustomersmayr educeorcancelordersorfailtohonorpurchase commitments;theriskthatourinvestmentsmay experienceperiodsofsignificantmarketvalu eandinterestratevolatilitycausingustorec ognizefairvaluelossesonourinvestment.

4 Theriskposedbymanaginganincreasinglycomp lexsupplychainthathastheabilitytosupplya sufficientquantityofrawmaterials,compone ntsandfinishedproductswiththerequiredspe cificationsandquality;theriskwemayberequ iredtorecordasignificantchargetoearnings ifourremaininggoodwilloramortizableasset sbecomeimpaired;risksrelatingtoconfident ialinformationtheftormisuse,includingthr oughcyber-attacks,cyberintrusionorransom ware;ourabilitytocompletedevelopmentandc ommercializationofproductsunderdevelopme nt;therapiddevelopmentofnewtechnologyand competingproductsthatmayimpairdemandorre nderourproductsobsolete;thepotentiallack ofcustomeracceptanceforourproducts;risks associatedwithongoinglitigation;theriskt hatcustomersdonotmaintaintheirfavorablep erceptionofourbrandandproducts,resulting inlowerdemandforourproducts;theriskthato urproductsfailtoperformorfailtomeetcusto merrequirementsorexpectations,resultingi nsignificantadditionalcosts;risksassocia tedwithstrategictransactions,includingth epossibilitythatwemaynotrealizethefullpu rchasepricecontemplatedinconnectionwitht hesaleofourformerLEDP roductsorLightingProductsbusinessunits;a ndotherfactorsdiscussedinourfilingswitht heSEC,includingourreportonForm10-Kforthe fiscalyearendedJune27,2021, ,andWolfspeedundertakesnoobligationtoupd atesuchforward-lookingstatementstoreflec tnewinformation,futureevents,subsequentd evelopmentsorotherwise, on Non-GAAP , ,managementintendstoprovideinvestorswith additionalinformationtofurtheranalyzethe Company sperformance, ,andnotasubstitutefor, CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc.

5 All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , OVERVIEWG regg Lowe President & CEOTECHNOLOGY OVERVIEWJohn Palmour-CTOWOLFSPEED BUSINESS REVIEWJay Cameron -SVP & GM, PowerGerhard Wolf SVP & GM, RF PowerCengiz Balkas SVP & GM, MaterialsBREAK56789 CUSTOMER FIRESIDE CHATM oderated by KenricMiller VP, Global Sales &Marketing, AutomotivePIPELINE DEVELOPMENT -COMPONENTST homas Wessel SVP, Global Sales & MarketingCAPACITY UPDATERex Felton SVP, Fab OperationsLONG-TERM OUTLOOKN eill Reynolds EVP & CFOQUESTION & ANSWER SESSIONWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , R E G G L O W E| P R E S I D E N T & C E OStrategic OverviewWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc.

6 All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , $221$526FY2017FY2021 WOLFSPEEDAT A GLANCEC ompany Overview Current Device Pipeline$18B+$1B+Net Investment Over Last 8 Quarters Design-In Awards in FY2021~$ LTAs~$ +Number of Design-Ins in FY2021~1,100 Market Cap~$16B IP PositionSubstantialSilicon Carbide Provider LargestFounded 1987 Employees~3,500 Leadership30+ YearsSource: Company Filings; Market Data as of October 2021 | (1) Fiscal year end in JuneWolfspeed Revenue (M)(1)Recent HighlightsDevice SAM by 2026~$9B Wolfspeed CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , WE LAST METThe industry has been hit by several near-term :May:September:March:Global pandemic hits all parts of the worldMay:Demand begins to pick up as world adjusts to new normalSeptember:Continued trade tensions between the and ChinaIndustry-wide supply chain lags as demand strengthensMounting concern regarding inflationary pressure and rising pricesContinuation of a challenging inflationary environment coupled with decreased labor supplyAugust:Semiconductor chip shortage becomes acutely feltWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc.

7 All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , WE LAST we ve still managed to transform into a global semiconductor powerhouseMarch:Completed Sale of LED Business August:October:Listed on the NYSE under the ticker WOLF Formally Changed Name to WolfspeedAnnounced Strategic Partnership with GM Secured a Record ~$ of Design-ins During FY2120202021 March:Quickly Adapted to the New COVID-19 Operating EnvironmentJune:Announced Strategic Partnership with the Yutong GroupApril:Announced $575M Convertible Senior Notes OfferingFebruary:Completed $500M ATM Equity OfferingWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , TOOK A BIKE RIDE here s what I CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc.

8 All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , AT AN INFLECTION POINTKey milestones on our transformationCree is Renamed WolfspeedStrategic Refocus on WolfspeedAcquired Infineon s RF BusinessSale of Lighting BusinessSale of LED Business Pipeline Grows to ~$15B $1B+ Investment in MVF Fab Announces ~$ Design-ins, ~$ LTAs TransformRampPipeline Growsto $18B+ 201720182019202020212022+ Wolfspeed CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , NEXT GENERATION IN POWER SEMICONDUCTORS WILL BE DRIVEN BY SILICON CARBIDE TECHNOLOGY SiliconSilicon CarbideSiC Inverters | OBCs are:RFPower Density Comparison vs.

9 Silicon Lighter Smaller More efficient, 5% -10% increase in vehicle rangeGaN-Silicon Carbide in 5G enables: Increased capacity and coverage 2X more users per tower More than 10X increase in dataPowerSource: Company estimatesWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , bus Silicon Carbide MOSFET solution to 400V bus Si IGBT solution13 : 1 ENERGY SAVED ON ENERGY INVESTED (ESOI) FOR AN EV SEDAN APPLICATIONS ource: Biophysical Economics Institute Report SILICON CARBIDE IS UNLOCKING A NEW ERA OF ENERGY EFFICIENCYWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , EVADOPTION DRIVING $330B+ INVESTMENTG lobal OEMs and Corporates have made significant commitments to EVsAims to have 40% of global volume electric by 2030, plans to spend >$30B on EVsCommitted to 30 new EVs by 2025; plans to spend $35B on EV product developmentExpects EVs to represent half of vehicle sales by 2030, followed by nearly all in 2040 Expects 50% of its global sales to consist of fully electric vehicles by 2030 Plans to spend over 40B on EVs by 2030 Plans to become a fully electric vehicle company by 2030 Targets 40% of US sales to be electric by 2030.

10 Expects all new Nissan vehicles to be electric by early 2030sAnnounced Model S and Model X extended ranges with SiCpower electronicsDeploying 100k custom all electric delivery vehicles by 2030; plan to be net-zero carbon by 2040 All electric; 150K in annual production capacity with plans to expand capacityWOLFSPEED CONFIDENTIAL & PROPRIETARY 2021 Wolfspeed , Inc. All rights reserved. Wolfspeed and the Wolfstreak logo are registered trademarks and the Wolfspeed logo is a trademark of Wolfspeed , OUTLOOK FROM 2019 SPLIT BETWEEN PHEV & BEV The Battery Is Ready to Power the WorldFEB. 5, 2021 Study Expects More EVs Than ICE Vehicles Will Be Sold By 2033 JULY 6, 2021 Experts Predicted All Cars Would Be Hybrid by 2020. Why Were They Wrong?SEPT. 1, 2021 Ford Will Build 4 Factories in a Big Electric Vehicle PushSEPT.