#1INVESTOR PRESENTATION November 2022 Copyright 2022, Coherent. All rights reserved. COHERENT#2FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements relating to future events and expectations that are 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 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, 2022 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") and the need to generate sufficient cash flows to service and repay such debt; (iv) the possibility that the Company may be unable to achieve expected synergies, operating efficiencies and other benefits within the expected time- frames or at all and to successfully integrate operations of Coherent, Inc. ("Coherent") with those of the Company; (v) the possibility that such integration 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; (vi) any unexpected costs, charges or expenses resulting from the Transaction; (vii) the risk that disruption from the Transaction 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; (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 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 (xvi) the risks of business and economic disruption related to the currently ongoing COVID-19 outbreak and any other 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. All information in this presentation is as of November 9, 2022. 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, which are available in the Appendix. COHERENT Copyright 2022, Coherent. All rights reserved. 2#3COHERENT AT A GLANCE FROM A FOUNDATION OF MATERIALS AND IMAGINATION, WE ENABLE EXCITING MEGATRENDS COHERENT 1971 Year Founded COHR Nasdaq 28,000+ Employees (2) $4.8 B FY22 Revenue(1) 4,400+ Engineering & Available Technology Employees (2) $65 B Market(2) 3,000+ Patents(2) 130 Locations VERTICAL Materials, Components, INTEGRATION Subsystems, Systems 24 Countries and Service (1) Proforma non-GAAP revenue combines II-VI FY22 revenue (as of FYE 6/30/22) and Coherent 6/30/22 TTM. Not calculated in accordance with Article 11 of SEC regulation S-X. (2) As of July 1, 2022 Copyright 2022, Coherent. All rights reserved. 3#4$4.8 BILLION OF PROFORMA(1) REVENUE IN FY22 Lasers 31% Communications North Materials America Industrial 23% BY REPORTING SEGMENT 46% Networking Europe 18% 38% 47% 45% BY MARKET BY REGION(2) 16% China 10% 7% Electronics Instrumentation 4% 15% Korea & Japan Other (1) Proforma non-GAAP revenue combines II-VI FY22 revenue (as of FYE 6/30/22) and Coherent 6/30/22 TTM. Not calculated in accordance with Article 11 of SEC regulation S-X. (2) Revenue by region is based on customer headquarter addresses. COHERENT Copyright 2022, Coherent. All rights reserved.#5BUILDING 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 Experience management team with a successful track record Strong execution and resilient growth COHERENT Copyright 2022, Coherent. All rights reserved. 4 A 5 Co#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 - IIVI+COHR Proforma(3) $4,837 COHERENT CAGR 20% 10 Years of Continuous Revenue Growth Revenue (1) ($M) $1,362 $1,159 $972 $683 $742 $827 $516 $551 $2,380 $3,317 $3,106 FY16 FY17 FY18 FY19 FY20 FY21(2) FY22 FY22 PF(3) FY12 FY13 FY14 FY15 (1) (2) FY21 actual. See Appendix for reconciliation to most comparable GAAP measures. (3) Figures prior to FY2019 do not reflect the adoption of ASC 606. Prepared in accordance to ASC 805. Pro Forma 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. Copyright 2022, Coherent. All rights reserved. 6#7CORPORATE SOCIAL RESPONSIBILITY CARBON FOOTPRINT REDUCTION IS A PRIORITY ■ As of June 30, 2022 Coherent purchases 38% of our electricity from renewable sources ■ 35 sites (9 in U.S. and all sites in Europe) are powered by renewable energy ■ Largest facility in China will be powered by 100% renewable energy by 2026 Energy Total electricity consumption (MWh) PRODUCTS AND TECHNOLOGY Investing to help the world transition to cleaner energy solutions, including: ■ Silicon Carbide for power electronics ■ Advanced Lithium Selenium Sulfur batteries EV battery recycling solution FY21 547,557 FY22 564,689 BOARD DIVERSITY Self-generated electricity (%) 0% 0% 13 total Board members Electricity purchased from the grid (%) 100% 100% ■ 5 of 13 (38%) are ethnically diverse Total fuel consumption (MWh) 72, 222 Total Energy Consumption (MWh) Energy consumption from renewable sources 619,779 22% 74,779 639,468 ■ 2 Board members are women ■ 11 of 13 (82%) are independent 29% ■ 7 new directors over the past 5 years Note: Energy consumption includes electricity and natural gas only. No other energy sources are significant. OUR 5 ESG PILLARS | We are focused on making the world safer, healthier, closer, and more efficient. Responsible sourcing Our Products Innovation and impact • Product quality and lean manufacturing Conflict materials and traceability Human rights Supplier diversity Supplier engagement Environment ◉ Climate and energy management in our operations Waste management Environmental, health, and safety People Diversity, equity, and inclusion Talent acquisition Talent management Employee management Employee wellness Community engagement Governance Corporate governance Ethical business conduct and compliance Enterprise risk management Data privacy and security COHERENT Copyright 2022, Coherent. All rights reserved. 7#8II-VI Q1 FY23 FINANCIAL HIGHLIGHTS Revenue Backlog $1.3B $3.1B Operating Income $42.5M GAAP $286.4M Non-GAAP Earnings (Loss) Per Share $(0.56) GAAP $1.04 Non-GAAP (1) Revenue by region is based on customer headquarter addresses COHERENT Copyright 2022, Coherent. All rights reserved. Instrumentation 9% Electronics 13% 34% Industrial REVENUE BY END MARKET 44% Communications Other China 4% 11% Korea and Japan 14% REVENUE BY REGION(1) 53% North America 18% Europe 8#9ATTRACTIVE AND INCREASING OPERATING MARGINS Strong Execution and Synergy Realization Post Coherent Transaction Close Driving Margins Non-GAAP Gross Margin (1) 38.5% 40.3% Q4 FY22 Proforma(2) Q1 FY23 Non-GAAP Operating Margin (1) 21.3% 17.2% Q4 FY22 Proforma(2) Q1 FY23 (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. See Appendix for reconciliation to most comparable GAAP measures. (2) II-VI Incorporated and Coherent, Inc. figures are for the three months ended June 30, 2022 COHERENT Copyright 2022, Coherent. All rights reserved. 9#10THREE REPORTING SEGMENTS MATERIALS NETWORKING CLIENT INNOVATIONS THAT RESONATE COHERENT Copyright 2022, Coherent. All rights reserved. LASERS EXACT CUT 430 10#11HALF 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 II-VI COHERENT LASERVASION Copyright 2022, Coherent. All rights reserved. 11#12SIMPLIFYING AND STRENGTHENING OUR FOCUS ON FOUR MARKETS WITH A COMBINED $65B IN TAM INDUSTRIAL TAM: $28B CAGR: 13% COMMUNICATIONS TAM: $21B CAGR: 12% ELECTRONICS TAM: $11B CAGR: 17% INSTRUMENTATION TAM: $5B CAGR: 7% Sources: Optech Consulting, Strategies Unlimited, SEMI, Internal Estimates Sources: LightCounting, Omdia, Cignal Al, Yole, Internal Estimates Sources: IDC, Morgan Stanley, Research & Markets, Forbes, Yole, Strategy Analytics, Internal Estimates Sources: Strategies Unlimited, Markets & Markets, SDI (Strategic Directions), Internal Estimates Note: TAM based on CY2022; CAGR based on 2022-27 timeframe. COHERENT Copyright 2022, Coherent. All rights reserved. 12#13INDUSTRIAL 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 2022, Coherent. All rights reserved. 13#14COMMUNICATIONS MARKET VERTICALS AND MEGATRENDS Datacom ◉ Increasing spend on cloud infrastructure ■ Artificial Intelligence/Machine Learning Telecom " Open systems ■ SATCOM and integration to terrestrial networks 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 Industry pioneer in broad range of technology platforms ■Industry leading investments in R&D ■ Global and flexible manufacturing footprint COHERENT INNOVATIONS THAT RESONATE Copyright 2022, Coherent. All rights reserved. 14#15ELECTRONICS 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 Wireless . 5G growth and 6G COHERENT 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 ■ GaN/SiC HEMT and SiC MOSFET devices INNOVATIONS THAT RESONATE Copyright 2022, Coherent. All rights reserved. VALUE PROPOSITION ■ Broadest portfolio of optoelectronics, optics, and electronics High-volume consumer electronics experience ■6-inch gallium arsenide platform ■ 200 mm silicon carbide platform ■World-class indium phosphide platform. ■ Decades of investment in high quality silicon carbide substrates Investing $1 billion over the next 10 years in silicon carbide ■ Cross-functional engineering and integration expertise 15#16INSTRUMENTATION MEGATRENDS ■ Smart healthcare evolution, largely based on technology ■ Point-of-care diagnostics ■ Personalized medicine ■ 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 2022, 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 ■ Broad product portfolio to support a wide range of applications ■ Extensive technology innovation for next- generation capabilities ■ Global manufacturing footprint and flexible supply chain partners 16#17SILICON CARBIDE Electrification of transportation Sustainability of the planet COHERENT Copyright 2022, Coherent. All rights reserved. 17#18POWER ELECTRONICS FOR GREEN AND CLEAN ENERGY ELECTRIC VEHICLES SOLAR & WIND ENERGY SMART GRID POWER SWITCHING COHERENT Copyright 2022, Coherent. All rights reserved. 18#19NOW, NEXT, AND BEYOND SILICON CARBIDE MATERIALS Two decades of innovation Wafer Size 2 inch 2000 Manufactured 3 inch 2002 Demonstrated 2004 Manufactured 2005 Demonstrated 100 mm 2007 High Quality Wafer 2009 Manufactured 150 mm 2012 Demonstrated 2013 Manufactured 200 mm 2015 2019 World's First 200 mm Demonstrated 4H n-Type 6H SI 2021 Back-end Processing in China 2024 Manufacturing What's next: Targeting the world's first 300 mm demonstration COHERENT Copyright 2022, 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 2022, Coherent. All rights reserved. 20#21ACQUISITION OF COHERENT COHERENT Copyright 2022, Coherent. All rights reserved. 21#22LEADER IN TECHNOLOGY FOR DISPLAY MANUFACTURING ■ Market trends: • OLED display manufacturing technology in the process of moving from Gen 6 to Gen 8 for improved economies of scale Deployments in Korea and China • Revenue for Micro-LED display manufacturing will become material around FY25 • Micro-LEDs address incremental markets: higher brightness TVs and wall-size displays ■ Market Size for equipment and services: ◉ ⚫ $450-$550M in FY27 (internal estimates) • Leading laser & system capabilities: . ⚫ Line Beam systems for display backplane annealing (ELA) • • Line Beam systems for Laser Lift Off (LLO) Ultrafast lasers for OLED display cutting • Micro-Led UV Laser Transfer systems COHERENT Copyright 2022, Coherent. All rights reserved. 411#23FOCUSING ON GROWTH APPLICATIONS AS LASERS PENETRATE RAPIDLY GROWING ADDRESSABLE MARKETS PRECISION MANUFACTURING TAM: $10B, CAGR: 9% • EV battery welding • Medical device manufacturing • Consumer goods manufacturing • Sources: Optech Consulting - Laser Market Data, Internal Estimates SEMICONDUCTOR CAPITAL EQUIPMENT TAM: $6B, CAGR: 6% Enabling mobile communications, cloud, automotive, and loT Acceleration in wafer fab investments for inspection. • Next generation wafer fab tools Pulsed laser deposition • Sources: Strategies Unlimited 2021, SEMI, Internal Estimates Note: TAM based on CY2022; CAGR based on 2022-27 timeframe. COHERENT Copyright 2022, Coherent. All rights reserved. • LIFE SCIENCES & RESEARCH TAM: $5B, CAGR: 7% Personalized medicine • Diagnostic and drug discovery • Disease detection and treatment Sources: Strategies Unlimited, Markets & Markets, SDI (Strategic Directions), Internal Estimates 23#24SIGNIFICANT VALUE CREATION POTENTIAL FROM COHERENT COST SYNERGIES Q1FY23 RUN RATE SYNERGIES ACHIEVED EXPECTED SYNERGIES WITHIN 3 YEARS ☐ ■ Supply chain management - procurement Cost of Goods Sold ■ Infeed Internal supply of enabling materials and components Operational efficiencies at scale $1.8M $150M Operating Expenses ☐ ■ Consolidation of corporate costs ☐ ■ Global functional model efficiencies ■ More efficient R&D with scale Development cost savings $10.5M $100M COHERENT TOTAL $12.3M $250M Copyright 2022, Coherent. All rights reserved. 24#25WELL CAPITALIZED FOR FUTURE GROWTH¹ External Financing Sources Debt Convertible Preferred Equity Mandatory Convertible Equity $3.7B secured term loans • $990M high yield bonds $285M available on $350M revolver $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 ■ $460M series A preferred equity Mandatorily convertible on July 1, 2023 ■ Converts to ~11M shares Leverage Total Debt $4.7 billion 3.2x(1) Cash $0.9 billion Net Debt $3.8 billion. 2.6x(1) PF Combined TTM Adj $1,479 million EBITDA (1) (incl. $250M synergies) Fully-Diluted Shares Outstanding2 COHR basic shares Stock comp shares Series A preferred equity (1) Reflects, as of 9/30/2022, using pro forma TTM combined adj EBITDA at 9/30/22, including $250 million of cost synergies. (2) Balances assuming conversion at 9/30 COHERENT Series B preferred Pro forma FDSO Copyright 2022, Coherent. All rights reserved. 138M 1M 11M 26M 176M 25#26CASH FLOW - ACQUISITION CONSIDERATIONS • • • Operating Cash Flow • Increase/decrease in cash from changes in operating assets/liabilities should be considered net of the effects of the acquisition. The cash outflow for the net assets acquired is considered an investing cash outflow. Example: Ending Balance Trade A/P Beginning Balance Trade A/P - Acquired Trade A/P +/- FX Impact +/- Increase/Decrease in Trade A/P for Fixed Assets Increase/Decrease in Cash from Changes in Trade A/P Includes interest payments, including payments for ticking fees. Investing Cash Flow • Includes the fair value of cash consideration paid for the acquired net assets and extinguishment of certain obligations, net of cash acquired. Financing Cash Flow . Includes the gross proceeds from the Term A and Term B facilities and issuance of Series B Preferred Shares used to finance the acquisition, net of payments on existing debt. Also includes the cash outflow for the debt issuance costs and equity issuance costs associated with the above. COHERENT Copyright 2022, Coherent. All rights reserved. 26#27FINANCIAL APPENDIX COHERENT Copyright 2022, Coherent. All rights reserved. 27 27#28SEGMENT REVENUE BY END MARKETS FOR FULL YEAR FY22(1) End Market Distribution of Full Year FY22 Revenue Reported Segments FY21 Revenue FY22 Revenue FY22 Op Margin - GAAP / Non- GAAP FY22/FY21 Revenue Growth Life Sciences, Communic ations Industrial Aerospace & Defense Semi Cap Consumer, Automotive, Other Photonic Solutions $2,038M $2,226M 10% / 15% 9% 93% 3% 0% 1% 3% Compound $1,068M $1,090M 20% / 29% 2% 11% 31% 17% 13% 28% Semiconductors II-VI Consolidated $3,106M $3,317M 13% / 20% 7% 66% 12% 6% 5% 11% (1) Does not reflect the transfer of two entities between Networking and Materials, as disclosed in Form 10Q. Numbers are shown as reported in FY22. COHERENT Copyright 2022, Coherent. All rights reserved. 28#29MAPPING INTO FOUR MARKETS II-VI Industrial Semiconductor Capital Equipment Aerospace & Defense Communications Optical Communications Wireless COHERENT INDUSTRIAL Precision Manufacturing Semiconductor Capital Equipment - Display Capital Equipment Aerospace & Defense COMMUNICATIONS Communications COHERENT Precision Manufacturing Microelectronics Aerospace & Defense Consumer Electronics Automotive Life Sciences ELECTRONICS Wireless Consumer Electronics Automotive INSTRUMENTATION Life Sciences Scientific Instrumentation COHERENT Copyright 2022, Coherent. All rights reserved. Instrumentation 29 20#30FY22 REVENUE BY FY23 MARKET SEGMENTS Companies II-VI Incorporated Coherent, Inc. (1) FY22 Revenue Communications End Market Distribution of Full Year FY22 Revenue Industrial Electronics Instrumentation $3,317M 65% 23% 9% 3% $1,520M(1) 0% 75% 0% 25% Proforma Combined (2) $4,837M(2) 45% 39% 6% 10% COHERENT (1) Coherent Revenue 6/30/22 TTM. (2) Proforma non-GAAP revenue combines II-VI FY22 revenue (as of FYE 6/30/22) and Coherent 6/30/22 TTM. Not calculated in accordance with Article 11 of SEC regulation S-X. Copyright 2022, Coherent. All rights reserved. 30#31SEGMENT REVENUE BY END MARKETS FOR Q1FY23 QTD End Market Distribution of Q1FY23 QTD Revenue Reported Segments Q1FY22 Q1FY23 Revenue(1) Revenue Q1FY23/ Q1FY22 Revenue Growth Q1FY23 Op Margin GAAP / Non- - Industrial Communications Electronics Instrumentation GAAP Materials Segment $264M $356M 37% 21% / 27% 41% 6% 49% 4% Networking $531M $596M 11% 15% / 20% 3% 94% 1% 2% Segment Lasers $392M(2) $392M 0% (31)%/18% 76% 0% 0% 24% Segment Proforma Combined $1,187M (1) $1,344M 13% 3% / 21% 34% 44% 13% 9% (1) Proforma non-GAAP revenue combines II-VI Q1 FY22 revenue (as of 9/30/22) and Coherent 9/30/22 TTM. Not calculated in accordance with Article 11 of SEC regulation S-X. (2) Coherent Revenue 6/30/22 TTM. COHERENT Copyright 2022, Coherent. All rights reserved. 31#32HYPOTHETICAL ILLUSTRATION OF EPS CALCULATION Example EPS Calculations (1) $ Millions Hypothetical Earnings Level for Q2 FY23 Non-GAAP net earnings 162.0 171.0 180.0 200.0 Deduct Series B redeemable preferred dividends (29.4) (29.4) (29.4) Non-GAAP net earnings available to common shareholders $ 132.6 $ Diluted weighted average common shares 151.0 141.6 $ 151.0 150.6 $ 200.0 151.0 177.0 Diluted earnings per common share on non-GAAP basis 0.88 $ 0.94 $ 1.00 $ 1.13 COHERENT (1) The Company does not provide reconciliations of the hypothetical non-GAAP net earnings and hypothetical diluted non-GAAP EPS presented in this table. This table contains purely hypothetical figures, which are provided solely to illustrate how the Company would calculate diluted non-GAAP EPS under different factual scenarios. Copyright 2022, Coherent. All rights reserved. 32 22#33RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES COHERENT Reconciliation of GAAP Measures to non-GAAP Measures* $ Millions (Unaudited) Gross profit on GAAP basis (4) Share-based compensation Amortization of acquired intangibles Preliminary fair value adjustment on acquired inventory Three Months Ended Sept 30, Jun 30, Sept 30, 2022 2022 2021 443.6 326.0 $ 306.6 5.3 0.9 1.5 47.4 9.6 9.6 45.5 - 0.4 6.9 S 542.2 343.4 $ 317.7 Integration and other(1) Gross profit on non-GAAP basis Operating income on GAAP basis $ 42.5 $ 114.2 $ 95.1 Share-based compensation 53.2 13.5 22.7 Amortization of acquired intangibles 82.5 19.9 20.4 Start-up costs(3) 6.4 Preliminary fair value adjustment on acquired inventory 45.5 Integration and other(1) 24.1 Transaction fees and financing) 38.7 14.6 12.0 Operating income on non-GAAP basis $ 286.4 $ 168.6 $ 150.2 Copyright 2022, Coherent. All rights reserved. 33#34RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES COHERENT Reconciliation of Segment Non-GAAP Operating Income (Loss) to GAAP Segment Operating Income (Loss)* $ Millions (Unaudited) Non-GAAP Networking Operating Income Share-based compensation Amortization of acquired intangibles Restructuring and related expenses Networking GAAP Operating Income 2022 Three Months Ended Sept 30, Jun 30, 2022 Sept 30, 2021 $ 117.7 $ 89.2 $ 86.8 (10.2) (16.5) (3.1) (9.6) (16.2) (16.9) (2.8) (0.9) $ 91.0 $ 67.1 $ 59.4 Non-GAAP Materials Operating Income Share-based compensation S 96.8 $ 79.5 S 63.5 (17.2) (10.5) (13.2) Amortization of acquired intangibles Integration and other() (3.2) (3.7) (3.5) (1.1) (5.4) Start-up costs (3) (6.4) Materials GAAP Operating Income $ 75.3 $ 53.5 S 46.8 Non-GAAP Lasers Operating Income $ 71.9 $ Share-based compensation (25.8) Amortization of acquired intangibles (62.8) Integration and other(1) (23.0) Transaction fees and financing) (38.7) Preliminary fair value adjustment on acquired inventory Lasers GAAP Operating Income (Loss) (45.5) $ (123.8) $ S Non-GAAP Unallocated and Other Operating Income (Loss) Restructuring, integration, and transaction expenses Unallocated and Other GAAP Operating Income (Loss) $ $ $ (6.4) (11.2) S $ (6.4) $ (11.2) Total GAAP Operating Income $ 42.5 S 114.2 S 95.1 Non-GAAP Operating Income $ 286.4 $ 168.6 $ 150.2 34#35RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES Reconciliation of Segment Non-GAAP Operating Income (Loss) to GAAP Segment Operating Income (Loss) $ Millions (Unaudited) Year Ended Non-GAAP Photonic Solutions Operating Income Share-based compensation Amortization of acquired intangibles Restructuring, transaction expenses and other Photonic Solutions GAAP Operating Income Jun 30, 2022 Three Months Ended Mar 31, Jun 30, Jun 30, 2022 2021 2022 Jun 30, 2021 $ 91.7 $ 81.8 $ 87.4 $ 334.4 $ 324.3 (3.1) (8.8) (9.4) (30.9) (39.6) (16.6) (16.5) (17.3) (66.7) (69.2) (2.8) (1.9) (0.2) (6.7) (7.8) $ 69.2 $ 54.6 $ 60.5 $ 230.1 $ 207.7 Non-GAAP Compound Semiconductors Operating Income $ 76.9 $ 90.2 $ 61.1 $ 315.8 $ 277.2 Share-based compensation (10.5) (9.2) (9.3) (42.2) (39.4) Amortization of acquired intangibles (3.2) (2.9) (3.3) (12.9) (13.0) Restructuring, transaction expenses, and other (5.4) (1.7) (0.8) (8.3) (3.6) Start-up costs $ (6.4) (14.6) $ $ (32.3) $ Compound Semiconductors GAAP Operating Income $ 51.4 $ 61.8 $ 47.7 $ 220.1 $ 221.2 Non-GAAP Unallocated and Other Operating Income (Loss) Restructuring, transaction expenses, and other Unallocated and Other GAAP Operating Income (Loss) Total GAAP Operating Income $ $ $ $ $ (6.4) (9.6) (11.1) (35.9) (26.8) $ (6.4) $ (9.6) $ (11.1) $ (35.9) $ (26.8) $ 114.2 $ 106.8 $ 97.1 $ 414.3 $ 402.1 COHERENT Non-GAAP Operating Income *Amounts may not recalculate due to rounding. $ 168.6 $ 172.0 $ 148.5 $ 650.2 $ 601.5 Copyright 2022, Coherent. All rights reserved. 35#36RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES COHERENT Reconciliation of GAAP Measures to non-GAAP Measures $ Millions (Unaudited) Revenue Gross profit on GAAP basis Share-based compensation Amortization of acquired intangibles (4) Start-up costs (3) Restructuring, transaction expenses and other (1) Gross profit on non-GAAP basis Operating income on GAAP basis Share-based compensation Start-up costs (3) Amortization of acquired intangibles Restructuring, transaction expenses and other (1) Operating income on non-GAAP basis Three Months Ended Year Ended Jun 30, Mar 31, Jun 30, Jun 30, Jun 30, 2022 2022 2021 2022 2021 $ 887.0 $ 827.7 $ 808.0 $3,316.6 $3,105.9 $ 326.0 $ 321.7 $ 297.8 $1,265.5 $1,177.5 0.9 1.3 3.4 5.1 12.1 9.6 9.4 9.8 38.3 38.8 1.6 2.8 6.9 1.7 0.7 9.8 6.7 $ 343.4 $ 335.7 $ 311.7 $1,321.5 $1,235.0 $ 114.2 $ 106.8 $ 97.1 $ 414.3 $ 402.1 13.5 18.2 18.5 73.1 78.9 6.4 14.6 32.3 19.9 19.4 20.6 79.7 82.2 14.6 13.2 12.2 50.9 38.3 $ 168.6 $ 172.0 $ 148.5 $ 650.2 $ 601.5 Copyright 2022, Coherent. All rights reserved. 36#37RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES COHERENT Adjusted Combined Gross Profit and Operating Income - Unaudited ($ millions) Combined Gross Profit Combined gross margin % Share-based compensation Amortization of acquired intangibles FY 2022 Q4 465 36.9% 3 10 Fair value adjustment on acquired inventory Start-up costs Restructuring expenses, integration expenses, transaction expenses and other Adjusted Combined Gross Profit Adjusted combined gross margin % Combined Internal Research and Development 7 485 38.5% 127 Share-based compensation Start-up costs (6) Restructuring expenses, integration expenses, transaction expenses and other Adjusted Combined Internal Research and Development 118 Combined Selling, General and Administrative 199 Share-based compensation Amortization of acquired intangibles Restructuring expenses, integration expenses, transaction expenses and other Adjusted Combined Selling, General and Administrative 151 Combined Operating Income Share-based compensation 139 8ུབྱ བ ཊ (16) (11) (21) Amortization of acquired intangibles Fair value adjustment on acquired inventory Start-up costs 6 Restructuring expenses, integration expenses, transaction expenses and other Adjusted Combined Operating Income 29 216 Adjusted combined operating margin % 17.1% Copyright 2022, Coherent. All rights reserved. 37#38COHERENT