#1INVESTOR PRESENTATION November 2023 Copyright 2023, 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 electricity consumption from renewable sources; (iv) regarding growth in the markets we serve including industrial, communications, electronics, and instrumentation; (v) regarding artificial intelligence and the growth in the datacom transceiver global market and opportunity by laser type; (vi) regarding silicon carbide including, without limitation, our ability to demonstrate the world's first 300mm silicon carbide wafer, our ability to continue accelerating time-to-market, our capacity to expand; the silicon carbide investment transaction (the "SIC Investment Transaction") and the benefits thereof; (vii) regarding the acquisition of Coherent, Inc. including, without limitation, market trends for display manufacturing, our ability to leverage our industrial service model in other markets and value creation potential from cost synergies; (viii) regarding our capitalization for future growth; and (ix) regarding floating rate debt exposure reduction, 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 (x) the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023 related to the SIC Investment Transaction and (y) 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; (xvii) the risks of business and economic disruption related to worldwide health epidemics or outbreaks that may arise and/or (xviii) the risk that the investments by DENSO and Mitsubishi in our Silicon Carbide business are not completed. 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 November 6, 2023. 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 2023, 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) Available $64 B Market (1) 3,000+ Patents (1) 126 Locations VERTICAL INTEGRATION Materials, Components, Subsystems, Systems and Service 24 Countries COHERENT (1) As of June 20, 2023 Copyright 2023, Coherent. All rights reserved. 3#4BUILDING MOMENTUM FOR 50 YEARS One of the largest photonics and compound semiconductor companies Materials expertise drives differentiation in multiple growing markets. Vertically integrated, diverse global manufacturing footprint History of insightful targeting and successful integration of strategic acquisitions Experienced management team with a successful track record Strong execution and resilient growth COHERENT Copyright 2023, Coherent. All rights reserved. Co 4#5HALF A BILLION DOLLARS IN ANNUAL R&D INVESTMENT Combined R&D and capex spend expected to be highest in industry and to accelerate breakthroughs, time-to-market and time-to-scale advantages Increased scale improves competitiveness and drives more strategic dialogue with customers Will enable better alignment of organic and inorganic investments to market demand Drives profitability and targeted returns "We are mainly constrained by the quality of our materials and the limits of our imaginations." Dr. Carl J. Johnson Co-founder and first CEO of the Company COHERENT LASERVASION 5 Copyright 2023, Coherent. All rights reserved.#6INSIGHTFUL TARGETING AND INTEGRATION OF STRATEGIC ACQUISITIONS 5 Transformative Acquisitions 2022 - Laser sources & systems 2019 Indium phosphide technology platform - 2016 Epitaxial wafer and SiC electronic devices 2013 Gallium arsenide technology platform 2010 Optical networks & China market 5.2 CAGR 25% 10 Years of Continuous Revenue Growth Revenue (1) ($B) 1.4 1.2 1.0 0.8 0.7 0.7 0.6 3.3 3.1 2.4 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 2023, Coherent. All rights reserved. 6#7ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG) IS A PRIORITY SUSTAINABLE. CARBON FOOTPRINT REDUCTION ■ >50% of all energy requirements worldwide are procured from renewable sources ■ 100% renewable electricity for all sites in Europe ■ Numerous energy efficiency projects completed, saving over 26 million kWh of energy per year Percentage of Energy Usage from Renewable Sources 60% 50% 40% 30% 20% INCLUSIVE. ENGAGED EMPLOYEES ■ Expanded our diversity, equity, and inclusion efforts ■ Streamlined talent management processes to improve the experience for both managers and employees ☐ Multiple philanthropic projects in communities where Coherent operates around the globe COMMUNITY Expand Our Impact Foster Inclusion and Belonging Embrace Diverse Perspectives I CARE Increase Representation Elevate Equity CULTURE PRINCIPLED. MANAGED TO ESG STANDARDS ■ Committed to comply with the Responsible Business Alliance Code of Conduct ■ Over two dozen ESG related policies updated and standardized globally BOARD OVERSIGHT ■ 13 of 14 (93%) of Board members are independent ■ All of our Board committees are independent ■ 10 of 14 (71%) of Board members joined within past 5 years ■ 4 of 14 (29%) are female ■ 8 of 14 (57%) of Board members are female and/or ethnically diverse INNOVATIVE. PRODUCTS AND TECHNOLOGY Investing to help the world reduce energy use and transition to cleaner energy solutions, including: ■ Silicon Carbide for power electronics ☐ Battery manufacturing for e- mobility and energy storage at scale ■ Advanced materials for battery production and recycling 10% 0% FY21 FY22 FY23 COHERENT COMMITMENT Copyright 2023, Coherent. All rights reserved. 7#8$5.2 BILLION OF REVENUE IN FY23 WELL DIVERSIFIED ACROSS TECHNOLOGY, PRODUCTS, AND GEOGRAPHIC MARKETS Lasers 29% BY REPORTING SEGMENT 45% Communications Materials 26% 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 North America Europe Industrial 19% 34% BY REGION(1) 11% China 53% 14% 3% Korea & Japan Instrumentation Other Copyright 2023, Coherent. All rights reserved. 8#9THREE REPORTING SEGMENTS MATERIALS NETWORKING CLIENT INNOVATIONS THAT RESONATE COHERENT Copyright 2023, Coherent. All rights reserved. LASERS EXACT CUT 430 9#10FOUR 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 2023, Coherent. All rights reserved. 10#11INDUSTRIAL 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 and 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 2023, Coherent. All rights reserved. 11#12COMMUNICATIONS 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 2023, Coherent. All rights reserved. 12#13ELECTRONICS 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 • Decades of investment in high quality silicon carbide substrates ■ Cross-functional engineering and integration expertise COHERENT INNOVATIONS THAT RESONATE Copyright 2023, Coherent. All rights reserved. 13#14INSTRUMENTATION 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 2023, 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 14#15ARTIFICIAL INTELLIGENCE Driving growth in the cloud and beyond COHERENT Copyright 2023, Coherent. All rights reserved. 15#16DATACOM TRANSCEIVER GLOBAL MARKET $M $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 $1.3 billion in sales in datacom in FY23 3.2T 1.6T 1800G ■400G 200G and higher data-rate transceivers >65% of our revenue Copyright 2023, Coherent. All rights reserved. 200G 100G 50G 40G 800G and higher data-rate transceivers > 50% of the total available market by 2027 16#17DATACOM TRANSCEIVER OPPORTUNITY BY LASER TYPE CY23 Transceiver Opportunity ($B) VCSEL AI $0.3 6% CY28 Transceiver Opportunity ($B) DML - Other $0.6 6% DML - Other $1.6 29% DML $1.6 VCSEL AI $1.6 14% EML - Other $1.0 9% VCSEL Other $1.5 27% DML $0.6 VCSEL $1.8 EML $3.0 VCSEL $3.3 VCSEL - Other $1.7 14% EML AI $2.0 18% CY28 Total $11.4 B CY23 Total $5.1 B EML SiPho $1.3 $0.8 SiPho $4.6 SiPho Al EML - Other $0.7 $0.2 3% 12% SiPho - Other $1.1 10% COHERENT EML AI $0.6 12% SiPho - Other $0.6 11% Datacom Transceivers for Al growing at a 44% CAGR (23 - 28) Source: LightCounting, Internal Estimates Copyright 2023, Coherent. All rights reserved. SiPho Al $3.4 29% 17#18SILICON CARBIDE Electrification of transportation Sustainability of the planet COHERENT Copyright 2023, Coherent. All rights reserved. 18#19POWER ELECTRONICS FOR GREEN AND CLEAN ENERGY ELECTRIC VEHICLES SOLAR & WIND ENERGY SMART GRID POWER SWITCHING COHERENT Copyright 2023, Coherent. All rights reserved. 19#20ACCELERATING TIME-TO-MARKET JUNE 2020 - Licensed technology from GE to manufacture silicon carbide devices and modules for power electronics. APRIL 2021 - Expanded SiC wafer finishing manufacturing footprint in China. FEBRUARY 2022 - Qualified 1200 V SiC MOSFET and expanded relationship with GE. SiC Modules SiC Devices SiC Chips SiC Epiwafers SiC Substrates COHERENT Vertical Integration II-VI and GE Technology II-VI and GE Technology II-VI and GE Technology II-VI (3DSIC®) II-VI Copyright 2023, Coherent. All rights reserved. 20#21SILICON CARBIDE BUSINESS OVERVIEW Business Overview Leading global supplier of silicon carbide (SiC) substrates for power device and radio 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 FY24 Key Stats ~$300M Revenue >50% Growth Profitable 625 Employees Global Footprint Substrate Epitaxial Wafer Ion Implantation COHERENT Copyright 2023, Coherent. All rights reserved. 21#22SILICON CARBIDE INVESTMENT TRANSACTION TO SEPARATE SILICON CARBIDE BUSINESS WITH MARKET-LEADING PARTNERS COHERENT Leader in materials, networking and laser technologies DENSO Global Tier-1 automotive supplier; leading capabilities in electrification and power semiconductors MITSUBISHI ELECTRIC Pioneer in silicon carbide power devices; leading capabilities in high-voltage industrial and transportation Pro Forma Ownership COHERENT 75% 12.5% Silicon Carbide Business Copyright 2023, Coherent. All rights reserved. 12.5% 222#23SILICON CARBIDE INVESTMENT TRANSACTION DETAILS Transaction Structure Total Investment ■ Valuation Governance and Business Leadership Long-term Supply Agreements Expected Closing Timeline " Coherent to separate and contribute SiC business (the "Business") to newly-formed subsidiary Denso and Mitsubishi Electric to each invest $500 million into new subsidiary in exchange for combined 25% non-controlling interest in the Business (no proceeds to Coherent) Coherent to retain 75% controlling interest in the Business at closing $1.0 billion Investment to fund future capital expansion and operations of the Silicon Carbide business $3.0 billion pre-money valuation for the Silicon Carbide Business; represents ~10x FY24E revenues Coherent entitled to appoint 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 to enter into long-term supply agreements with Denso and Mitsubishi Electric that support the expansion of its 150 mm and 200 mm substrate and epitaxial wafer shipments Expected to close by March 31, 2024, subject to regulatory approvals and satisfaction of other closing conditions COHERENT Copyright 2023, Coherent. All rights reserved. 23#24STRATEGIC BENEFITS OF THE SILICON CARBIDE INVESTMENT TRANSACTION Silicon Carbide Business ■ $1.0 billion capital to fund and accelerate growth plans Coherent COHERENT ■ ■ ■ ◉ Long-term supply agreements with market-leading partners to support expansion of wafer shipments Deepen strategic partnership with Denso and Mitsubishi Electric 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 pro forma entity Copyright 2023, Coherent. All rights reserved. 24#25FINANCIAL HIGHLIGHTS COHERENT Copyright 2023, Coherent. All rights reserved. 25#26FY24 Q1 HIGHLIGHTS REVENUE Non-GAAP EPS OPERATING CASH FLOW DEBT REDUCTION VISIBILITY AI/ML $1.053 billion, slightly above the midpoint of our $1.0 - 1.1 billion guidance. $0.16, above the midpoint of our $0.05 - $0.20 guidance. Excluding an extraordinary $0.03 benefit from a lower than expected tax rate and an adverse $0.01 impact from foreign exchange, Non-GAAP EPS would still have been $0.14. $199 million, compared to $80 million in the year-ago quarter and $182 million in the preceding quarter. We paid down $19 million of our outstanding debt. Macroeconomic uncertainty continues to impact our near-term growth and visibility; however, we expect sequential improvement in revenue growth throughout the remainder of fiscal 2024. In the wake of the initial surge we saw at the end of our fourth quarter of fiscal 2023, we have seen strong follow-on orders for our AI/ML-related Datacom transceivers which has driven a significant increase in our backlog for 800G Datacom transceivers. 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 2023, Coherent. All rights reserved. 26#27FINANCIAL HIGHLIGHTS Sep 30, 2023 Jun 30, 2023 ' Sep 30, 2022 Revenue (M) $1,053 $1,205 $1,345 Non-GAAP Gross Margin 34.8% 35.9% 40.3% Non-GAAP Operating Expense (M) $234 $248 $256 Non-GAAP Operating Margin 12.6% 15.4% 21.3% Adjusted EBITDA (M) 200 257 351 Non-GAAP Diluted EPS $0.16 $0.41 $1.04 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 2023, Coherent. All rights reserved. 27#28OPERATING METRICS Cash (M) Cash from Operations (M) Capital Expenditures (M) DSO (days) Inventory Turns Gross Leverage Net Debt (M) COHERENT Sep 30, 2023 Jun 30, 2023 Sep 30, 2022 $941 $833 $899 $199 $182 $80 $62 $93 $139 73 68 65 2.3 2.6 2.7 4.0 3.6 3.8 $3,438 $3,565 $3,831 Copyright 2023, Coherent. All rights reserved. 28#29REVENUE AND NON-GAAP MARGIN(1) TRENDS Lower Q1 FY24 primarily driven by lower revenue and short term capacity underutilization Transitory interruption of longer-term expansion trend Revenue ($M) $1,600 45% 40.3% 39.8% 37.3% $1,400 40% 35.9% 34.8% $1,345 $1,370 35% $1,200 $1,240 $1,205 30% $1,000 $1,053 21.3% 25% $800 20.3% 17.5% 20% 15.4% $600 12.6% 15% $400 10% $200 5% $0 0% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Margin Revenue Non-GAAP Gross Margin Non-GAAP Operating Margin (1) All non-GAAP amounts exclude certain adjustments for share-based compensation, acquired intangible amortization expense, certain one-time transaction expenses, debt extinguishment expense, fair value measurement period adjustments and restructuring and related items. (2) As required by Regulation G, we have provided reconciliations of those measures to the most directly comparable GAAP measures in the section captioned "GAAP to NON-GAAP RECONCILIATION." COHERENT Copyright 2023, Coherent. All rights reserved. 29#30MARGIN STRUCTURE Current downtrend Non-GAAP Gross and Operating Margin Targets Ongoing weak end market demand due to macroeconomic conditions has played a significant role in our current margin downtrend. Second Quarter Fiscal 2024: 35 - 37% and 13 - 15% ■ Full Year Fiscal 2024: 36 - 38% and 14 - 16% By the end of the first-half of fiscal 2026: 40% and 20% Longer-Term: Low-40s and low-20s As required by Regulation G, we have provided reconciliations of those measures to the most directly comparable GAAP measures in the section captioned "GAAP to NON-GAAP RECONCILIATION." COHERENT Copyright 2023, Coherent. All rights reserved. 30#31REVENUE BY SEGMENT Revenue ($M) 1,600 1,400 1,200 1,000 800 600 Quarterly Revenue Trend 400 200 0 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 Lasers 392 379 365 333 336 Networking 597 609 551 585 473 ■Materials 356 382 324 288 245 (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2023, Coherent. All rights reserved. Revenue Distribution Lasers 32% FY24 Q1 45% Materials 23% Networking 31#32BACKLOG BY SEGMENT Quarterly Backlog Trend 3,500 3,000 2,500 Backlog ($M) 2,000 1,500 1,000 500 0 FY23 Q1 FY23 Q2 FY23 Q3 Lasers 900 932 867 FY23 Q4 878 FY24 Q1 821 Networking 1,407 1,218 1,075 1,217 1,404 ■Materials 745 714 667 650 668 (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2023, Coherent. All rights reserved. Backlog Distribution Lasers Materials 28% 23% FY24 Q1 49% Networking 2 32#33REVENUE BY MARKET Revenue ($M) Industrial Quarterly Revenue Trend 1,600 Revenue Distribution Instrumentation 1,400 1,200 1,000 9% Electronics 9% 800 600 400 38% FY24 Q1 200 0 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 44% Instrumentation 118 120 125 117 99 Electronics 180 200 139 106 90 Communications 585 600 538 570 460 Industrial 461 450 438 412 404 Communications (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2023, Coherent. All rights reserved. 33#34REVENUE BY REGION Quarterly Revenue Trend 1,600 Revenue Distribution Other 1,400 Revenue ($M) 1,200 1,000 China 3% 13% 800 600 400 Japan & Korea 14% 48% FY24 Q1 200 0 FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY24 Q1 Other 45 36 37 31 27 China 152 153 135 137 132 23% Japan & Korea 195 178 171 166 148 Europe Europe 239 246 246 249 242 ■North America 715 757 652 622 504 (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2023, Coherent. All rights reserved. North America 34#35FY24 Q2 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 Stock compensation $1.075 1.175 billion 35-37% $238 252 million - 13-15% 19-21% $73 77 million 20-23% Approximately $30 million $0.14 0.32(1) 153 million for the entire guidance range $95 125 million $35 43 million Pretax amounts of Non-GAAP adjustments Amortization Restructuring, synergies, and consolidation expenses Approximately $72 million $45 55 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. COHERENT Copyright 2023, Coherent. All rights reserved. 35#36FY24 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 Stock compensation $4.5 4.7 billion 36-38% $995 million - 1.025 billion 14-16% 20-22% $284 294 million - 18-20% Approximately $123 million $1.00 1.50 (1) - 153 million for the entire guidance range $350 400 million - $140 158 million Pretax amounts of Non-GAAP adjustments Amortization Restructuring, synergies, and consolidation expenses Approximately $290 million. $165 185 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. COHERENT Copyright 2023, Coherent. All rights reserved. 36#37GAAP TO NON-GAAP RECONCILIATION COHERENT Copyright 2023, Coherent. All rights reserved. 37 40#38GROSS PROFIT RECONCILIATION $ Millions (Unaudited) Gross profit on GAAP basis Share-based compensation Amortization of acquired intangibles Fair value adjustment on acquired inventory Integration, site consolidation and other Gross profit on non-GAAP basis Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 307 343 420 411 444 7 5 31 39 । 21 46 1 5556 7 6 5 31 15 47 112 46 1 366 433 463 546 542 COHERENT Copyright 2023, Coherent. All rights reserved. 38#39OPERATING EXPENSE RECONCILIATION COHERENT $ Millions (Unaudited) Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Internal R&D on GAAP basis 114 123 126 129 121 Share-based compensation (8) (5) (6) (6) (5) Amortization of acquired intangibles (1) (1) Integration, site consolidation and other (1) (3) Internal R&D on non-GAAP basis 103 115 120 123 116 SG&A on GAAP basis 212 256 226 274 280 Share-based compensation (29) (17) (23) (23) (43) Amortization of acquired intangibles (41) (94) (90) (35) Transaction fees and financing (39) Integration, site consolidation and other (10) (13) (16) (16) (24) SG&A on non-GAAP basis 131 133 126 145 140 Restructuring on GAAP basis Restructuring charges Restructuring on non-GAAP basis 119 (3) (119) Copyright 2023, Coherent. All rights reserved. 39#40INCOME FROM OPERATIONS RECONCILIATION $ Millions (Unaudited) Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Op. income (loss) on GAAP basis (21) (155) 67 8 43 Share-based compensation 45 26 35 35 53 Fair value adjustment on acquired inventory 112 46 Amortization of acquired intangibles Restructuring charges Transaction fees and financing Integration, site consolidation and other w I w w 73 134 93 105 83 119 Op. income on non-GAAP basis Non-GAAP Op. Margin Percentage 39 33 61 22 17 24 132 185 217 278 287 12.6 % 15.4 % 17.5 % 20.3 % 21.3 % COHERENT Copyright 2023, Coherent. All rights reserved. 40 40#41NET EARNINGS RECONCILIATION COHERENT $ Millions (Unaudited) Net earnings (loss) on GAAP basis Share-based compensation Amortization of acquired intangibles Fair value adjustment on acquired inventory Foreign currency exch. (gains) losses Restructuring charges Integration, site consolidation and other Transaction fees and financing Tax impact of non-GAAP measures Net earnings on non-GAAP basis Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 (68) (178) 3 (45) (39) I w w = | G 45 26 35 35 53 73 134 93 105 83 (1) | CO 112 46 6 1 7 (3) 119 33 61 22 17 24 74 (31) (73) (36) (60) (54) 55 55 95 95 118 171 184 Copyright 2023, Coherent. All rights reserved. 41#42NET EARNINGS PER COMMON SHARE Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Net earnings (loss), GAAP Basic Earnings (Loss) Per Share (0.65) (1.54) (0.24) (0.58) (0.56) Diluted Earnings (Loss) Per Share (0.65) (1.54) (0.24) (0.58) (0.56) $ (Unaudited) Net earnings (loss), non-GAAP Basic Earnings Per Share Diluted Earnings Per Share 0.16 0.42 0.59 0.98 1.11 0.16 0.41 0.58 0.95 1.04 COHERENT Copyright 2023, Coherent. All rights reserved. 42 42#43EBIDTA AND ADJUSTED EBITDA RECONCILIATION COHERENT $ Millions (Unaudited) Net earnings (loss) on GAAP basis Income taxes (benefit) Depreciation and amortization Interest expense Interest income Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 (68) (178) 3 (45) (39) (21) (55) (7) (21) (12) 138 204 161 170 147 73 79 75 71 62 (4) (4) (2) (2) (1) 120 45 229 172 158 11.4 % 3.7 % 18.5 % 12.6 % 11.7 % EBITDA EBITDA margin Prelim. fair value adj. on acquired inv. Stock based compensation Foreign currency exch. (gains) losses Restructuring charges Transaction fees and financing Integration, site consolidation and other Adjusted EBITDA Adjusted EBITDA margin 45 (1) w | W GI 33 26 35 6 119 00 | - | | 112 45 35 53 7 (3) | 74 200 61 257 22 17 24 287 344 351 19.0 % 21.4 % 23.1 % 25.1 % 26.1 % Copyright 2023, Coherent. All rights reserved. 43#44RECONCILIATION 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) Transaction fees and financing(4) Non-GAAP Networking Operating Income 0.9 1.8 2.3 5.2 6.2 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 Year Ended Jun 30, 2023 Mar 31, Jun 30, 2023 2022 Jun 30, 2023 Jun 30, 2022 Gross profit on GAAP basis Share-based compensation Amortization of acquired intangibles(1) Preliminary fair value adjustment on acquired inventory Integration, site consolidation and other(3) Start-up costs(5) Gross profit on non-GAAP basis $ 343.4 $ 420.2 $ 326.0 $1,618.3 $1,265.5 4.9 38.7 6.5 30.7 0.9 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 22.9 5.1 Non-GAAP Materials Operating Income $ 70.2 $ 89.0 $ 79.1 $ 356.4 $ 314.7 9.6 132.1 38.3 157.5 45.8 5.8 6.9 53.2 9.8 Lasers GAAP Operating Income (Loss) Share-based compensation $ (82.1) $ (49.9) $ $ (419.1) $ 8.4 17.5 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 S $ 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) $ $ (35.9) 6.4 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) $ $ $ Transaction fees and financing(3) Start-up costs(4) 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 Operating income on non-GAAP basis $ 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 2023, Coherent. All rights reserved. 44#45FINANCIAL APPENDIX COHERENT Copyright 2023, Coherent. All rights reserved. 45#46WELL CAPITALIZED FOR FUTURE GROWTH (1) External Financing Sources Debt ■ $3.4B secured term loans ■ $990M high yield bonds. ■ $346M revolver availability Convertible Preferred Equity $2.15B 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 $4.38 billion 2.9x(1) Cash $0.94 billion Net Debt $3.44 billion 2.3x(1) PF Combined TTM Adj $1,494 million EBITDA (1) (incl. $143M synergies +$263M additional cost savings) Fully-Diluted Shares Outstanding (2) COHR basic shares 152M Series B preferred 27M Pro forma FDSO 179M (1) Reflects, as of 9/30/2023, using pro forma TTM combined adj EBITDA at 9/30/23, including $406 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 9/30/23. Not calculated in accordance with Article 11 of SEC regulation S-X. COHERENT Copyright 2023, Coherent. All rights reserved. 46#47DEBT EXPOSED TO FLOATING RATES DECREASES DURING FY24 58% 47% Debt exposed to floating rates makes up 43% of capital structure by June 30, 2024 43% I I I I I I I I I I I I I I I 5.0% High Yield Bonds I I I I 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 2023, Coherent. All rights reserved. 47#48SIGNIFICANT COST REDUCTIONS FROM RESTRUCTURING ANNOUNCED ON MAY 10, 2023 Current Outlook Previous Outlook Cumulative savings for the period of FY23 to FY25 $200 - 300M $200 - 300M Annual savings by FY25 $110-140M $100 - 125M Cost to achieve savings $175 - 200M $150 - 200M COHERENT Copyright 2023, Coherent. All rights reserved. 48#49END MARKETS AND MARKET VERTICALS COHERENT END MARKETS INDUSTRIAL COMMUNICATIONS ELECTRONICS INSTRUMENTATION MARKET VERTICALS ◉ Precision Manufacturing Semiconductor Capital Equipment Display Capital Equipment Aerospace & Defense Datacom Telecom Consumer Electronics Automotive Life Sciences Scientific Instrumentation Copyright 2023, Coherent. All rights reserved. 49 49#50SEGMENT REVENUE BY END MARKETS FOR FULL YEAR FY23 End Market Distribution of Full Year FY23 Reported Segments FY22 FY23 Revenue(1) Revenue FY23/ FY22 Revenue Growth FY23 Op Margin - GAAP / Non- GAAP Industrial Communications Electronics Instrumentation Materials Segment $1,119M $1,350M 21% 12% / 26% 45% 5% 46% 4% Networking Segment $2,198M $2,341M 7% 10% / 17% 3% 95% 0% 2% Lasers Segment $1,521M(2) $1,469M (3)% (29%) / 15% 74% 0% 0% 26% Proforma Combined $4,838M (1) $5,160M 7% (1%)/19% 34% 44% 13% 9% (1) Proforma non-GAAP revenue combines II-VI FY22 and Coherent 12 months ending 6/30/22. Not calculated in accordance with Article 11 of SEC regulation S-X. (2) Coherent revenue 12 months ending 6/30/22. COHERENT Copyright 2023, Coherent. All rights reserved. 50#51SEGMENT REVENUE BY END MARKETS FOR Q1FY24 QTD End Market Distribution of Q1FY24 QTD Revenue Reported Segments Q1FY23 Q1FY24 Revenue(1) Revenue Q1FY24/ Q1FY23 Revenue Growth Q1FY24 Op Margin - GAAP / Non- GAAP Industrial Communications Electronics Instrumentation Materials Segment $356M $245M (31)% 3% / 17% 54% 5% 36% 4% Networking $597M $473M (21)% 3% / 11% 3% 94% 0% 2% Segment Lasers Segment $392M $336M (14)% (13)% / 12% 76% 0% 0% 24% Consolidated $1,345M $1,053M (22%) (2%)/13% 38% 44% 9% 9% (1) Amounts may not recalculate due to rounding. COHERENT Copyright 2023, Coherent. All rights reserved. 51#52COHERENT