WOLFSPEED, INC. Annual Meeting of Stockholders - LEVI STRAUSS & CO

Welcome to the annual meeting for Wolfspeed Inc. Our host for today's call is Robert Furley, Chief Executive Officer. I will now turn the call over to your host. Mr. Furley you may begin sir. Good afternoon, I'm Robert Furle, Wolfspeed's Chief Executive officer. We appreciate your attendance today and welcome you to the 2026 annual shareholder meeting. We're excited to be holding our annual meeting virtually only this year via web portal, and so that more of our shareholders are able to participate in the meeting without the need to travel to our offices. Before we begin, I'd like to introduce our board members standing for election this year that are present today, in addition to myself, Tony Abate, Chairman of the Board, Mike Boken, retired Senior VP of Vice President of Sales of Micro Technology, Hong Hu, President and CEO of Semtech, Mark Jensen, Director of Lattice Semiconductor, Andy Mattis, former President and Chief Executive Officer of Coherent Inc, and Paul Walsh, former CFO of Allegro Microsystems. I would also like to introduce Gregor van Issem, our CFO, Deb Emerson, our COO, Brad Cohn, our Chief Legal Officer, and Melissa Garrett, our General Counsel and Corporate Secretary. I will now turn the meeting over to our Corporate Secretary for the conduct of the official business of the meeting. The meeting will now please come to order. Please note that no one attending via the web portal or telephone is permitted to use any audio recording devices. I'd like to point out that validated chair holders participating virtually may submit questions at any time during this meeting in the space provided in the web portal. Out of consideration for others, please limit yourself to one question. Questions will be answered following the formal business of the meeting. Though we may not be able to answer every question, we will do our best to provide response to as many as possible today. I note that I've received the notice of meeting mailed to shareholders and an affidavit sufficient to evidence that the meeting was duly called in accordance with the company's bylaws. A list of the shareholders of record on the record date for the meeting, which was August 31st, 2026, is also available on the website used to access this meeting for inspection by any record shareholder during the meeting and Adam Lindemuth, the company corporate controller, has been appointed as Inspector of Elections for this meeting. If there is anyone holding proxies that have not yet been submitted or who intends to vote shares virtually, please report to the Inspector at this time. To establish that we have a quorum to conduct business, the holders of a majority of the shares outstanding on the record date must be present today virtually or by proxy. The Inspector has delivered to me his report in which he has determined, based upon a count of the proxys previously submitted, that the holders of shares representing a majority of the shares outstanding on the record date are present today virtually or by proxy. Based on the inspector's report, I find that a quorum is present for all purposes. This meeting has been called to consider the following items of business. One, the election of seven directors. Two, approval of the 2026 employee stock purchase plan, three, an advisory vote to approve executive compensation, and four, the ratification of the appointment of PricewaterhouseCoopers LLP as independent auditors for the current fiscal year, all as described in the notice of annual meeting and proxy statement previously made available to shareholders. I note that Tony DeGance of Price Waterhouse Coopers, the company's independent auditors, is present today virtually to respond to appropriate questions and is welcome to make a statement if he wishes. The company's bylaws require that shareholders give prior notice of any nomination or proposal the shareholder may wish to present. There are no shareholder nominations or proposals, and therefore, only the items described in the notice of annual meeting may be considered today. Does any shareholder wish to discuss the matters to be voted on? It is now 12.04 and I declare the polls open. If you are a shareholder entitled to vote and have not yet voted, or if you want to change your previously cast vote, you may do so by voting online if you are attending virtually. For those attending online, you have the ability to vote by clicking the voting button on the web portal and following the instructions there. You do not need to vote online if he previously voted using the proxy card or the instructions accompanying the accompanying the proxy statement. While the votes are being collected and tabulated, our CEO would like to take a few minutes to give you a brief update on Wolfspeed. Thank you. As we continue to transition into Wolfspeed's next era, our strategy is centered on advancing our technology leadership, diversifying our revenue and customer base, driving operational excellence, and further securing financial strength and stability through financial discipline to capitalize on both our core and emerging markets. First, we have made significant progress in advancing our technology leadership as we announced this past June commercial readiness of our fifth generation silicon carbide MOSFET technology, making another significant milestone in our innovation roadmap. Gen 5 MOSFets deliver the best specific on resistance in the industry while maintaining the excellent switching behavior introduced in our Gen 4 MOSFet. Also, our 10kV SIG MOSFET was acknowledged at PCM, a leading power technology conference in Europe, as a top innovation at the conference. Second, we continue to make significant strides in many of our core end markets where we are improving our relationships with long-standing customers. We are also generating significant growth in emerging markets such as AI data centers. We have expanded our leadership with industry veterans in the San Francisco Bay Area. we're not only seeing the benefits of our day-to-day interactions but it's also supported by the revenue trends being generated for instance the full fiscal 2026 year revenue more than doubled on a year-over-year basis for this high growth and market with industry leading silicon carbide technology differentiate vertically integrated 200 millimeter manufacturing capability and evolving 300 millimeter capabilities were extremely well positioned to support all all distribution as AI data center adoption continues to scale. Third, operational excellence continues to be foundational. We remain relentless on execution in speed, quality, and cost, driving production yields higher and unit production costs lower. These ongoing improvements will not only serve both our legacy and new customers, but will also result in a fundamentally stronger company, better position for sustainable growth and profitability. Lastly, financial discipline remained core to our strategy. In March of this year, we benefited from a refinancing that was a significant step in strengthening our capital structure and reducing our cost of capital. More recently, we announced a conditional 30-year, $1.5 billion loan commitment from the U.S. Department of War to advance the domestic wide bandgap supply chain. This is an important milestone that we are doing from a position of strength. conditional commitment would provide long-term capital to support our strategy while further strengthening our capital structure, including lowering our capital costs, intermediate-term cash interest payment given the pay-to-kind structure in the first five years, while benefiting our customers, shareholders, and national security. These comprehensive initiatives will drive our ongoing success as we continue to drive innovation, capital stewardship, and a customer-centric approach to be the partner of choice with our customers. We will now take questions from our shareholders. Seeing none, we will now return to the business of the meeting. It appears that all shareholders who wish to vote have done so. It is 12.08, and I therefore declare the voting closed. The inspector has delivered his preliminary report with the results of the voting prior to today's meeting. The inspector's report shows that all of the proposals received received the votes required for approval and that the advisory vote on executive compensation was favorable. We will file the final report of the inspector of elections with the records of this meeting. We expect to report the results of the voting on a form 8K to be filed with the SEC within four business days of this meet. That concludes the business to be conducted and the meeting is adjourned. Thank you again for joining us today. This now concludes the Wolfspeed Inc. Annual Meeting of Shareholders. Thank you for joining the call. Have a pleasant day.