#1INVESTOR PRESENTATION February 2024 Copyright 2024, Coherent. All rights reserved. COHERENT#2FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements relating to future events and expectations, including our expectations (i) for our future financial and operational results (including expectations for future growth); (ii) regarding capital expenditures and the results of investments in research and design; (iii) regarding growth in the markets we serve including industrial, communications, electronics, and instrumentation; (iv) regarding artificial intelligence and the growth in the datacom transceiver global market and opportunity by laser type; (v) regarding silicon carbide including, without limitation, market growth, the silicon carbide investment transaction and the benefits thereof; (vi) regarding our capitalization for future growth; and (vii) regarding cost reductions (and savings) from restructuring actions, each of which, is based on certain assumptions and contingencies. The forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and relate to the Company's performance on a going-forward basis. The forward-looking statements in this investor presentation involve risks and uncertainties, which could cause actual results, performance or trends to differ materially from those expressed in the forward-looking statements herein or in previous disclosures. The Company believes that all forward-looking statements made by it in this presentation have a reasonable basis, but there can be no assurance that management's expectations, beliefs, or projections as expressed in the forward-looking statements will actually occur or prove to be correct. In addition to general industry and global economic conditions, factors that could cause actual results to differ materially from those discussed in the forward- looking statements in this presentation include but are not limited to: (i) the failure of any one or more of the assumptions stated herein to prove to be correct; (ii) the risks relating to forward-looking statements and other "Risk Factors" discussed in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2023 and additional risk factors that may be identified from time to time in filings of the Company; (iii) the substantial indebtedness the Company incurred in connection with its acquisition of Coherent, Inc. (the "Transaction"), the need to generate sufficient cash flows to service and repay such debt and the Company's ability to generate sufficient funds to meet its anticipated debt reduction goals; (iv) the possibility that the Company may not be able to continue its integration progress on and/or take other restructuring actions, or otherwise be able to achieve expected synergies, operating efficiencies, including greater scale, focus, resiliency, and lower operating costs, and other benefits within the expected time-frames or at all and ultimately to successfully fully integrate the operations of Coherent, Inc. ("Coherent") with those of the Company; (v) the possibility that such integration and/or the restructuring actions may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the Transaction and/or the restructuring actions; (vi) any unexpected costs, charges or expenses resulting from the Transaction and/or the restructuring actions; (vii) the risk that disruption from the Transaction and/or the restructuring actions materially and adversely affects the respective businesses and operations of the Company and Coherent; (viii) potential adverse reactions or changes to business relationships resulting from the completion of the Transaction and/or the restructuring actions; (ix) the ability of the Company to retain and hire key employees; (x) the purchasing patterns of customers and end users; (xi) the timely release of new products, and acceptance of such new products by the market; (xii) the introduction of new products by competitors and other competitive responses; (xiii) the Company's ability to assimilate other recently acquired businesses, and realize synergies, cost savings, and opportunities for growth in connection therewith, together with the risks, costs, and uncertainties associated with such acquisitions; (xiv) the Company's ability to devise and execute strategies to respond to market conditions; (xv) the risks to realizing the benefits of investments in R&D and commercialization of innovations; (xvi) the risks that the Company's stock price will not trade in line with industrial technology leaders; and/or (xvii) the risks of business and economic disruption related to worldwide health epidemics or outbreaks that may arise. The Company disclaims any obligation to update information contained in these forward-looking statements, whether as a result of new information, future events or developments, or otherwise. Unless otherwise indicated in this presentation, all information in this presentation is as of February 5, 2024. This presentation contains non-GAAP financial measures and key metrics relating to the Company's past performance. These non-GAAP financial measures are in addition to, and not as a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. As required by Regulation G, we have provided reconciliations of those measures to the most directly comparable GAAP measures in the section captioned "GAAP to NON-GAAP RECONCILIATION." COHERENT Copyright 2024, Coherent. All rights reserved. 2#3COHERENT AT A GLANCE FROM A FOUNDATION OF MATERIALS AND IMAGINATION, WE ENABLE EXCITING MEGATRENDS 1971 Year Founded COHR NYSE 26,000+ Employees (1) $5.2 B FY23 Revenue 2,400+ Research & Development (1) $64 B Available Market (1) 3,000+ Patents (1) 126 Locations VERTICAL INTEGRATION Materials, Components, Subsystems, Systems and Service 24 Countries COHERENT (1) As of June 20, 2023 Copyright 2024, Coherent. All rights reserved. 3#4INSIGHTFUL TARGETING AND INTEGRATION OF STRATEGIC ACQUISITIONS 5 Transformative Acquisitions 2022 Laser sources & systems 2019 Indium phosphide technology platform 2016 - Epitaxial wafer and SiC electronic devices 2013 Gallium arsenide technology platform 2010 Optical networks & China market 5.2 CAGR 25% 10 Years of Continuous Revenue Growth Revenue (1) ($B) 1.4 1.2 1.0 0.8 0.7 0.7 0.6 2.4 3.3 3.1 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 (2) FY22 FY23 (1) Figures prior to FY2019 do not reflect the adoption of ASC 606. (2) Prepared in accordance to ASC 805. Includes the revenue of Finisar in Q1FY20 prior to the acquisition date of 9/24/20. Not calculated in accordance with Article 11 of SEC regulation S-X. COHERENT Copyright 2024, Coherent. All rights reserved. 4#5$5.2 BILLION OF REVENUE IN FY23 WELL DIVERSIFIED ACROSS TECHNOLOGY, PRODUCTS, AND GEOGRAPHIC MARKETS Lasers 29% Segments Markets Communications Materials 26% Regions North America Europe Industrial 19% BY REPORTING SEGMENT 45% Networking (1) Revenue by region is based on customer headquarter addresses. (2) Amounts may not recalculate due to rounding. COHERENT 45% BY MARKET 9% 12% Electronics 34% Instrumentation Copyright 2024, Coherent. All rights reserved. BY REGION(1) China 11% 53% 14% 3% Korea & Japan Other 5#6FOUR ATTRACTIVE GROWTH MARKETS AGGREGATE $64B TAM 14% FIVE-YEAR CAGR (2023-28) INDUSTRIAL TAM: $22B CAGR: 9% Sources: Optech Consulting, TechInsight, Strategies Unlimited, SEMI, Internal Estimates, DSCC COMMUNICATIONS TAM: $23B CAGR: 14% Sources: LightCounting, Omdia, Cignal Al, Yole, Dell'Oro Internal Estimates ELECTRONICS TAM: $14B CAGR: 20% Sources: IDC, Morgan Stanley, Research & Markets, Forbes, Yole, Strategy Analytics, IdTechEx, Internal Estimates INSTRUMENTATION TAM: $5B CAGR: 8% Sources: Strategies Unlimited, Markets & Markets, SDI (Strategic Directions), Internal Estimates Note: TAM based on CY2023 COHERENT Copyright 2024, Coherent. All rights reserved. 60#7INDUSTRIAL MARKET VERTICALS AND MEGATRENDS Precision manufacturing ■ Giga factories for EV battery processing Advanced medical devices ◉ Additive manufacturing Semiconductor & display capital equipment Increasing laser content from ingot to packaged ICs OLED for mobile and micro-LED for high- end TV and large displays Aerospace & Defense PRODUCTS ■ Fiber lasers for laser welding of batteries ■ UV lasers for OLED manufacturing ■ Laser systems, subsystems, and processing heads ■ Laser components, optics, crystals ■ Ceramics, metal matrix composites, and diamond VALUE PROPOSITION ■ 50 years of experience in laser technology Long term technology partner across all laser architectures Broadest spectrum of laser and systems technologies ■ One stop shop for processing equipment ■ Productivity enhancement through innovation and knowhow COHERENT INNOVATIONS THAT RESONATE Copyright 2024, Coherent. All rights reserved. 7#8COMMUNICATIONS MARKET VERTICALS AND MEGATRENDS Datacom ■ Increasing spend on cloud infrastructure ■ Artificial Intelligence/Machine Learning Telecom ■ Open disaggregated systems Pluggable coherent transceivers PRODUCTS ■ 100 to 800 Gbps datacom transceivers ◉ ☐ Pluggable coherent transceivers Wavelength selective switches (WSS) ■ Pluggable optical line subsystems (POLS) ■ Terrestrial and submarine pump lasers ■ InP edge emitting lasers and GaAs VCSELS VALUE PROPOSITION Largest supplier of optical communications components ■ Vertically integrated from material through subsystems, including coherent DSPs Industry pioneer in broad range of technology platforms ■Industry leading investments in R&D ■ Global and flexible manufacturing footprint COHERENT INNOVATIONS THAT RESONATE Copyright 2024, Coherent. All rights reserved. 8#9ELECTRONICS MARKET VERTICALS AND MEGATRENDS Consumer electronics ■ Advanced sensing ■ AR/VR Wearables as health monitors Automotive Increasing SiC electronics content in EVs ■ Automotive sensing: in-cabin and LiDAR PRODUCTS ■ GaAs and InP optoelectronics " VCSELS and edge emitting lasers ■ Laser illumination modules ■ Wafer level optics and subassemblies " Waveguide materials, diffractive optics ■ Silicon carbide substrates and epiwafers ■ SiC MOSFET devices and modules VALUE PROPOSITION ■ Broadest portfolio of optoelectronics, optics, and electronics High-volume consumer electronics experience Differentiated, proprietary compound semiconductor platforms 150 mm gallium arsenide platform • 200 mm silicon carbide platform • Leading indium phosphide platform COHERENT INNOVATIONS THAT RESONATE Copyright 2024, Coherent. All rights reserved. • Decades of investment in high quality silicon carbide substrates ■ Cross-functional engineering and integration expertise 9#10INSTRUMENTATION MARKET VERTICALS AND MEGATRENDS Life Sciences ■ Smart healthcare evolution, largely based on technology ■ Point-of-care diagnostics ■ Personalized medicine Scientific Instrumentation ■ Environmental sustainability ■ Advanced instrumentation COHERENT PRODUCTS ■ Materials, optics, lasers, and thermoelectrics ■ Components to subassemblies and subsystems Optical, mechanical, electrical and software integration ■ ISO 9001 & 13485 INNOVATIONS THAT RESONATE Copyright 2024, Coherent. All rights reserved. VALUE PROPOSITION ■ Life sciences (biotechnology, medical, and environmental) and scientific segment solutions ■ Custom solutions from proof-of-concept to manufacturing at scale Rapid time to market of complete turnkey subassemblies and systems ■ Broadest product portfolio to support a wide range of applications ■ Extensive technology innovation for next- generation capabilities ■ Global manufacturing footprint and flexible supply chain partners 10 10#11ARTIFICIAL INTELLIGENCE: A REVOLUTION Driving growth in the cloud and beyond COHERENT Copyright 2024, Coherent. All rights reserved. 11#12DATACOM TRANSCEIVER GLOBAL MARKET $M $16,000 $14,000 $12,000 $10,000 $8,000 $6,000 $4,000 $2,000 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Source: LightCounting, Internal Estimates COHERENT 3.2T ■1.6T 800G ■400G 200G 100G 50G 40G Copyright 2024, Coherent. All rights reserved. $1.3 billion in sales in datacom in FY23 200G and higher data-rate transceivers >65% of our revenue 800G and higher data-rate transceivers > 65% of the total available market by 2028 12#13DATACOM TRANSCEIVER OPPORTUNITY BY LASER TYPE CY23 Transceiver Opportunity ($B) VCSEL AI $0.3 6% CY28 Transceiver Opportunity ($B) DML - Other $0.7 5% VCSEL AI $0.4 2% DML - Other $1.6 29% DML $1.6 CY23 Total $5.1 B DML AI $0 0% VCSEL - Other $1.5 27% VCSEL $1.8 EML $1.3 SiPho $0.8 SiPho Al - EML Other $0.7 $0.2 3% 12% EML AI $0.6 12% SiPho Other $0.6 11% COHERENT Source: LightCounting, Internal Estimates EML - Other $5.2 34% Copyright 2024, Coherent. All rights reserved. EML $10.3 DML $.7 VCSEL $1.9 VCSEL Other - $1.5 10% SiPho Al $1.2 8% CY28 Total $15.3 B SiPho $2.5 - SiPho Other $1.3 8% EML AI $5.0 33% 13#14SILICON CARBIDE POWER SEMICONDUCTORS: ANOTHER REVOLUTION Electrification of transportation Sustainability of the planet COHERENT Copyright 2024, Coherent. All rights reserved. 14#15SILICON CARBIDE BUSINESS OVERVIEW Business Overview Leading global supplier of silicon carbide (SiC) substrates for power device and radic frequency end market applications • Large addressable market estimated to grow from $3 billion in 2022 to $21 billion in 2030 (28% CAGR) Two decades of innovation in SiC materials • Proprietary, in-house designed and built growth furnaces, control hardware and software • Industry's first 200 mm substrate, with volume manufacturing scheduled for 2024 Vertical integration strategy from substrates to modules Key technologies and development of SiC MOSFETS Global footprint with capacity to expand • 8 sites across 3 continents to support global customers ⚫ State-of-the-art 300,000 sq ft growth facility in Easton, PA with capacity to reach 1 million+ (150 mm equiv.) annual wafers COHERENT Copyright 2024, Coherent. All rights reserved.#16SILICON CARBIDE INVESTMENT TRANSACTION TO SEPARATE SILICON CARBIDE BUSINESS WITH MARKET-LEADING PARTNERS COHERENT MITSUBISHI ELECTRIC DENSO Leader in materials, networking and laser technologies 75% Ownership COHERENT Pioneer in silicon carbide power devices; leading capabilities in high-voltage industrial and transportation Global Tier-1 automotive supplier; leading capabilities in electrification and power semiconductors 12.5% Silicon Carbide Business Copyright 2024, Coherent. All rights reserved. 12.5% 16#17SILICON CARBIDE INVESTMENT TRANSACTION DETAILS Transaction Structure On December 4, 2023, Coherent separated and contributed its silicon carbide (SiC) business to newly formed subsidiary at a $4 billion valuation Mitsubishi Electric and DENSO invested $1 billion into the new subsidiary in exchange for combined 25% non-controlling interest in the Business (no proceeds to Coherent) Total Investment ☐ Coherent retains 75% controlling interest in the Silicon Carbide business ☐ $1.0 billion at a $3 billion pre-money valuation ☐ Investment to fund future capital expansion and operations of the SiC business Governance and Business Leadership Long-term Supply Agreements ☐ ◉ Coherent appointed 100% of Board of the Business The Business will continue to operate under the Coherent brand with current leadership team Concurrently with closing, the Business entered into long-term supply agreements with Mitsubishi Electric and DENSO that support the expansion of substrate and epitaxial wafer shipments COHERENT Copyright 2024, Coherent. All rights reserved. 17#18STRATEGIC BENEFITS OF THE SILICON CARBIDE INVESTMENT TRANSACTION Silicon Carbide Business Coherent COHERENT $1.0 billion capital to fund and accelerate growth plans ■ ◉ ■ ◉ Long-term supply agreements with market-leading partners to support expansion of wafer shipments Deepen strategic partnership with Mitsubishi Electric and DENSO with leadership in end markets Values Coherent interest in silicon carbide business at $3.0 billion Recognizes value of unique material technologies and investments to date Represents ~10x FY2024E revenue New investment to fund capital and operations of silicon carbide business Provides greater financial and operating flexibility for Coherent by freeing up capital Coherent had planned for silicon carbide business Retains 75% ownership in the Business with continued operating and governance controls Expanded growth prospects of silicon carbide business Copyright 2024, Coherent. All rights reserved. 18#19FINANCIAL HIGHLIGHTS COHERENT Copyright 2024, Coherent. All rights reserved. 19#20FY24 Q2 HIGHLIGHTS REVENUE Non-GAAP EPS OPERATING CASH FLOW DEBT REDUCTION $1.131 billion, above the midpoint of our $1.075 - $1.175 billion guidance. $0.36, above the high end of our $0.14 - $0.32 guidance and up from $0.16 in the preceding quarter driven primarily by the strong gross margin upside, favorable operating leverage, and interest and dividend income. $67 million, compared to $220 million in the year-ago quarter and $199 million in the preceding quarter. We paid down $89 million of our outstanding debt. VISIBILITY Macroeconomic uncertainty continues to impact our near-term growth and visibility; however, we saw signs of improving demand trends during the quarter and expect ongoing sequential improvement in revenue growth throughout the remainder of fiscal 2024. As required by Regulation G, we have provided reconciliations of those measures to the most directly comparable GAAP measures in the section captioned "GAAP to NON-GAAP RECONCILIATION." COHERENT Copyright 2024, Coherent. All rights reserved. 20 20#21FY24 Q2 HIGHLIGHTS - CONTINUED AI/ML SILICON CARBIDE STRATEGIC OPPORTUNITIES We enjoyed a third straight quarter of strong orders for our AI/ML-related Datacom transceivers. Our 800G revenue increased sequentially by over 100% to cross the $100 million quarterly threshold just over one year since initial shipments, which marks one of the fastest product revenue ramps in the history of the company. We are excited by the active engagement we have with from large customers for 1.6T transceivers and components. In response to customer demand, we continue to make progress toward expected commercial launch in fiscal 2025 of our 1.6T transceivers and components. Enhancing our confidence in the long-term outlook for our silicon carbide business, during the second quarter, we consummated the previously announced transactions with Mitsubishi Electric and DENSO Corporation pursuant to which those entities invested an aggregate of $1 billion in exchange for non- controlling ownership interests of 12.5% each in Silicon Carbide LLC, a newly formed LLC into which we contributed our silicon carbide business, and entered into long-term supply agreements that will support their demand for SiC substrates and epitaxial wafers. As we transform the company to improve operating performance, restructure our production footprint to enhance operating resiliency, and complete the integration of legacy Coherent, Inc., we are exploring other strategic opportunities—not including material acquisitions—to unlock shareholder value. COHERENT Copyright 2024, Coherent. All rights reserved. 21 24#22REVENUE BY SEGMENT Revenue ($M) 1,600 1,400 1,200 1,000 800 600 Quarterly Revenue Trend 400 200 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 Lasers 379 365 333 336 354 Networking 609 551 585 473 524 ■Materials 382 324 288 245 254 (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2024, Coherent. All rights reserved. Revenue Distribution (1) Lasers 31% FY24 Q2 46% Materials 22% Networking 22 22#23BACKLOG BY SEGMENT Backlog ($M) 3,500 3,000 2,500 2,000 1,500 1,000 500 Quarterly Backlog Trend FY23 Q2 FY23 Q3 FY23 Q4 Lasers 932 867 878 FY24 Q1 821 Networking 1,218 1,075 1,217 1,404 FY24 Q2 812 1,446 ■Materials 714 667 650 668 625 (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2024, Coherent. All rights reserved. Backlog Distribution (1) Lasers Materials 22% 28% FY24 Q2 50% Networking 23#24REVENUE BY MARKET Industrial Quarterly Revenue Trend 1,600 Revenue Distribution (1) Instrumentation 1,400 Revenue ($M) 1,200 1,000 9% Electronics 8% 800 600 400 37% FY24 Q2 200 0 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 46% Instrumentation 120 125 117 99 99 Electronics 200 139 106 90 89 ■Communications 600 538 570 460 520 ■Industrial 450 438 412 404 423 Communications (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2024, Coherent. All rights reserved. 24#25REVENUE BY REGION Quarterly Revenue Trend (2) 1,600 Revenue Distribution (1) Other 1,400 Revenue ($M) 1,200 1,000 China 2% North America 14% 800 600 400 200 Japan & Korea 14% FY24 Q2 55% 0 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 FY24 Q2 Other 36 37 31 27 28 14% China 153 135 137 132 162 Japan & Korea 178 171 166 148 158 Europe 226 242 229 190 160 Europe ■North America 777 656 642 556 623 (1) Amounts may not recalculate due to rounding. (2) Prior periods restated to conform to current period presentation. COHERENT Copyright 2024, Coherent. All rights reserved. 25 25#26FY24 Q3 OUTLOOK Revenue Non-GAAP Gross Margin Non-GAAP Operating Expenses Non-GAAP Operating Margin Non-GAAP Adjusted EBITDA Z = Z Interest Expense Non-GAAP Tax Rate Series B Preferred P.I.K. Dividend Non-GAAP Earnings Per Share Share Count Capital Expenditures Stock compensation $1.12 1.20 billion 36-38% $246 262 million 14 - 16% 21-23% $70 74 million 16 - 19% Approximately $31 million. $0.32 0.52 (1)(2) - 153 million for the entire guidance range $115-145 million (includes $50M Funded by SiC LLC) $23 29 million Pretax amounts of Non-GAAP adjustments Amortization Restructuring, synergies, and consolidation expenses Approximately $72 million $40 50 million (1) The Company does not provide reconciliations of forward-looking Non-GAAP EPS. The Company is unable, without unreasonable efforts, to forecast certain items required to develop a meaningful GAAP financial measure that is comparable to this forward-looking figure. (2) Includes $0.04 related to earnings on SiC LLC Restricted Cash Investments. COHERENT Copyright 2024, Coherent. All rights reserved. 26#27FY24 FULL YEAR OUTLOOK Revenue Non-GAAP Gross Margin Non-GAAP Operating Expenses Non-GAAP Operating Margin Non-GAAP Adjusted EBITDA Interest Expense Non-GAAP Tax Rate Series B Preferred P.I.K. Dividend Non-GAAP Earnings Per Share Share Count Capital Expenditures Non-GAAP $4.55 4.7 billion 36-38% $990 million - 1.015 billion 14-16% 20-22% $284-294 million 20-22% Approximately $123 million $1.30 1.70(1)(2) 153 million for the entire guidance range $350 400 million (includes $150M Funded by SiC LLC). $120 130 million Approximately $290 million. Pretax amounts of adjustments Stock compensation Amortization Restructuring, synergies, and consolidation expenses $157 177 million (1) The Company does not provide reconciliations of forward-looking Non-GAAP EPS. The Company is unable, without unreasonable efforts, to forecast certain items required to develop a meaningful GAAP financial measure that is comparable to this forward-looking figure. (2) Includes $0.10 related to earnings on SiC LLC Restricted Cash Investments. COHERENT Copyright 2024, Coherent. All rights reserved. 27 22#28GAAP TO NON-GAAP RECONCILIATION COHERENT Copyright 2024, Coherent. All rights reserved. 28#29GROSS PROFIT RECONCILIATION $ Millions (Unaudited) Gross profit on GAAP basis Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 351 307 343 420 411 Share-based compensation 5 7 5 7 6 Amortization of acquired intangibles 30 31 39 31 15 Fair value adjustment on acquired inventory 112 Integration, site consolidation and other 22 21 46 6 1 Gross profit on non-GAAP basis 408 366 433 463 546 COHERENT Copyright 2024, Coherent. All rights reserved. 29 29#30OPERATING EXPENSE RECONCILIATION $ Millions (Unaudited) Internal R&D on GAAP basis Share-based compensation Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 111 114 123 126 129 (5) (8) (5) (6) (6) Amortization of acquired intangibles (1) (1) (1) (0) Start-up costs (1) (0) Integration, site consolidation and other (3) (1) (3) (0) Internal R&D on non-GAAP basis 102 103 115 120 123 SG&A on GAAP basis 209 212 256 226 274 Share-based compensation (17) (29) (17) (23) (23) Amortization of acquired intangibles (41) (41) (94) (62) (90) Integration, site consolidation and other (18) (10) (13) (16) (16) SG&A on non-GAAP basis 134 131 133 126 145 COHERENT Restructuring on GAAP basis Restructuring charges Restructuring on non-GAAP basis (2) 2 2 119 (3) (119) Copyright 2024, Coherent. All rights reserved. 30#31INCOME FROM OPERATIONS RECONCILIATION COHERENT $ Millions (Unaudited) Op. income (loss) on GAAP basis Share-based compensation Fair value adjustment on acquired inventory Amortization of acquired intangibles Start-up costs Restructuring charges Transaction fees and financing Integration, site consolidation and other Op. income on non-GAAP basis Non-GAAP Op. Margin Percentage Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 32 (21) (155) 67 8 NN 27 72 1 2₪ (2) w I wo≈ | G 45 26 35 35 112 73 134 93 105 119 42 33 61 22 17 172 132 185 217 278 15.2 % 12.6 % 15.4 % 17.5 % 20.3% Copyright 2024, Coherent. All rights reserved. 31#32NET EARNINGS RECONCILIATION COHERENT $ Millions (Unaudited) Net earnings (loss) attributable to Coherent Corp. on GAAP basis Share-based compensation Amortization of acquired intangibles Fair value adjustment on acquired inventory Start-up costs Foreign currency exch. (gains) losses Restructuring charges Integration, site consolidation and other Transaction fees and financing Tax impact of non-GAAP measures 1 6 (1) (2) 42 33 61 | Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 (27) (68) (178) 3 (45) IN N 27 45 72 73 I w w = o & 26 35 35 134 93 105 112 6 1 7 119 - 22 17 0 (33) (31) (73) (36) (60) Net earnings attributable to Coherent Corp. on non-GAAP basis 86 55 95 118 171 Copyright 2024, Coherent. All rights reserved. 32#33NET EARNINGS PER COMMON SHARE COHERENT $ (Unaudited) Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Net earnings (loss) attributable to Coherent Corp., GAAP Basic Earnings (Loss) Per Share (0.38) (0.65) (1.54) (0.24) (0.58) Diluted Earnings (Loss) Per Share (0.38) (0.65) (1.54) (0.24) (0.58) Net earnings (loss) attributable to Coherent Corp., non-GAAP Basic Earnings Per Share 0.37 0.16 0.42 0.59 0.98 Diluted Earnings Per Share 0.36 0.16 0.41 0.58 0.95 Copyright 2024, Coherent. All rights reserved. 33#34NET EARNINGS, GAAP, AND ADJUSTED EBITDA RECONCILIATION $ Millions (Unaudited) Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Net earnings (loss) on GAAP basis (29) (68) (178) 3 (45) Income taxes (benefit) (9) (21) (55) (7) (21) Depreciation and amortization 138 138 204 161 170 Interest expense 75 73 79 75 71 Interest income EBITDA EBITDA margin (7) (4) (4) (2) (2) 168 120 45 229 14.9 % 11.4 % 3.7 % 18.5 % 172 12.6 % Prelim. fair value adj. on acquired inv. Stock based compensation Foreign currency exch. (gains) losses Start-up costs 1 Restructuring charges (2) 119 Integration, site consolidation and other 42 33 61 Adjusted EBITDA 243 200 257 Less: adjusted EBITDA attributable to noncontrolling interests 112 35 35 17 344 ® ༤ | |➢ཙྪ། | 5 - | 6 │ NII 1 4 0 3 27 45 26 (1) 1 6 22 287 Adjusted EBITDA attributable to Coherent Corp. 243 Adjusted EBITDA margin attributable to Coherent Corp. 21.5 % 19.0% 21.4% 23.1 % 25.1% COHERENT 34 =4#35RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES Reconciliation of GAAP Segment Operating Income (Loss) to Segment Non-GAAP Operating Income (Loss)* $ Millions (Unaudited) Jun 30, 2023 Three Months Ended Mar 31, Year Ended Jun 30, Jun 30, Jun 30, 2023 2022 2023 2022 Networking GAAP Operating Income (Loss) $ (8.1) $ 49.5 $ 67.1 $ 222.4 $ 231.6 Share-based compensation 7.6 6.9 3.1 33.6 30.9 Amortization of acquired intangibles(1) 22.9 16.5 16.5 72.3 66.3 Restructuring charges(2) 55.6 55.6 Integration, site consolidation and other(3) 0.9 1.8 2.3 5.2 6.2 Transaction fees and financing(4) Non-GAAP Networking Operating Income 0.5 0.5 $ 78.9 $ 74.7 $ 89.5 $ 389.1 $ 335.5 Reconciliation of GAAP Measures to non-GAAP Measures* $ Millions (Unaudited) Three Months Ended Jun 30, 2023 Mar 31, 2023 Jun 30, 2022 Jun 30, 2023 Gross profit on GAAP basis Share-based compensation $ 343.4 $ 420.2 $ 326.0 $1,618.3 $1,265.5 Year Ended Jun 30, 2022 Materials GAAP Operating Income (Loss) Share-based compensation Amortization of acquired intangibles(1) Restructuring charges(2) Integration, site consolidation and other(3) Transaction fees and financing(4) Start-up costs(4) $ (65.0) $ 67.8 $ 53.5 $ 159.6 $ 218.6 10.4 10.7 10.5 51.1 42.2 35.1 3.2 3.3 44.8 13.3 60.4 60.4 29.4 7.3 5.2 40.5 8.1 0.2 0.2 6.4 32.3 4.9 6.5 0.9 22.9 5.1 Non-GAAP Materials Operating Income $ 70.2 $ 89.0 $ 79.1 $ 356.4 $ 314.7 Amortization of acquired intangibles(1) 38.7 30.7 9.6 132.1 38.3 Preliminary fair value adjustment on acquired inventory Integration, site consolidation and other(3) Start-up costs(5) Gross profit on non-GAAP basis 157.5 45.8 5.8 6.9 53.2 9.8 Lasers GAAP Operating Income (Loss) Share-based compensation $ (82.1) 8.4 $ (49.9) $ 17.5 $ (419.1) $ 64.9 2.8 Amortization of acquired intangibles(1) 75.6 73.0 297.1 $ 432.8 $ 463.2 $ 343.4 $1,984.0 $1,321.5 Restructuring charges(2) 3.1 3.1 Integration, site consolidation and other(3) 31.0 12.8 78.8 Transaction fees and financing(4) 38.7 Operating income (loss) on GAAP basis $ (155.2) $ 67.4 $ 114.2 Share-based compensation 26.4 35.1 13.5 $ (37.1) $ 414.3 149.6 73.1 Preliminary fair value adjustment on acquired inventory Non-GAAP Lasers Operating Income 157.5 $ 36.0 $ 53.4 $ $ 221.0 Amortization of acquired intangibles(1) 133.5 92.7 19.9 414.1 79.7 Preliminary fair value adjustment on acquired inventory 157.5 Restructuring charges(1) 119.1 119.1 Unallocated and Other GAAP Operating Income (Loss) Transaction fees and financing(4) $ $ $ (6.4) S 6.4 $ (35.9) 35.9 Integration, site consolidation and other(2) 61.3 21.9 7.5 124.5 14.3 Non-GAAP Unallocated and Other GAAP Operating Income (Loss) $ $ S Transaction fees and financing(3) Start-up costs(4) Operating income on non-GAAP basis 7.1 38.7 36.6 6.4 32.3 Total GAAP Operating Income (Loss) $ (155.2) $ 67.4 $ 114.2 $ (37.1) $ 414.3 $ 185.1 $ 217.1 $ 168.6 $ 966.5 $ 650.2 Non-GAAP Operating Income $ 185.1 $ 217.1 $ 168.6 $ 966.5 $ 650.2 COHERENT Copyright 2024, Coherent. All rights reserved. 55 35#36FINANCIAL APPENDIX COHERENT Copyright 2024, Coherent. All rights reserved. 36 36#37WELL CAPITALIZED FOR FUTURE GROWTH (1) External Financing Sources Debt $3.3B secured term loans ■ $990M high yield bonds ■ $345M revolver availability Convertible Preferred Equity $2.4B series B investment from Bain Capital ■ Coupon: 5%, 4-year payable-in-kind, cash pay option thereafter ■ Conversion price of $85.00 per share Leverage Total Debt $4.29 billion 3.2x(1) Cash (3) $0.86 billion Net Debt $3.44 billion 2.5x(1) PF Combined TTM Adj $1,360 million EBITDA (1) (incl. $108M synergies +$268M additional cost savings) Fully-Diluted Shares Outstanding (2) COHR basic shares Stock comp shares Series B preferred (1) Reflects, as of 12/31/2023, using pro forma TTM combined adj EBITDA at 12/31/23, including $376 million of future expected cost savings within 36 months. Not calculated in accordance with Article 11 of SEC regulation S-X. (2) Balances assuming all securities are dilutive as of 12/31/23. Not calculated in accordance with Article 11 of SEC regulation S-X. (3) Unrestricted cash on the balance sheet as of 12/31/2023 Pro forma FDSO COHERENT Copyright 2024, Coherent. All rights reserved. 152M 1M 28M 181M 37 32#38DEBT EXPOSED TO FLOATING RATES DECREASES DURING FY24 58% 46% Debt exposed to floating rates makes up 44% of capital structure by June 30, 2024 I I I I I I I I I I I I I I 5.0% High Yield Bonds I I I I I 44% I I I I I I I I I I I I I Sep-23 Dec-23 Mar-24 Jun-24 ■Fixed Rate Hedged Floating Rate 1.92% Interest Rate Cap 1.42% Interest Rate Swap Jun-23 COHERENT Copyright 2024, Coherent. All rights reserved. 38#39SIGNIFICANT COST REDUCTIONS FROM RESTRUCTURING ANNOUNCED ON MAY 10, 2023 Previous Outlook Current Outlook (as of Q1 FY24) Cumulative savings for the period of $200-250M FY23 to FY25 $200 - 300M Annual savings by FY25 $110-140M $110-140M Cost to achieve savings $175 - 200M $175 - 200M COHERENT Copyright 2024, Coherent. All rights reserved. 39#40ESG - GLOBAL DIVERSITY, EQUITY, AND INCLUSION STRATEGY Cultivate diverse teams that drive innovation, uphold our core values and achieve better business results by: Strategic Objectives Fostering Inclusion and Belonging An environment that embraces and respects differences Increasing Representation Ensure the diversity of our communities is reflected in our workforce. Embracing Diverse Perspectives DEI activities are global in scope and leverage the perspectives of our employees to enhance cross-cultural awareness. Elevating Equity Workplace policies, practices and processes support an equitable work environment. Expanding Our Impact A culture of service and partnership within our communities and industries. COMMUNITY Expand Our Impact Foster Inclusion and Belonging Embrace Diverse Perspectives Increase Representation CULTURE Areas of Focus Community Elevate Equity Connecting in meaningful ways both within and outside of Coherent to foster a sense of belonging, collaboration, and engagement. Culture Nurturing our company vision and ICARE values to promote an inclusive and equitable environment with mutual respect and recognition of our diverse experiences and perspectives. Commitment Showing our dedication to advancing diversity, equity and inclusion through our actions. COMMITMENT II INTEGRITY I CARE COLLABORATION ACCOUNTABILITY RESPECT ENTHUSIASM COHERENT Copyright 2024, Coherent. All rights reserved. 40 40#41COHERENT