#1NLIGHT Investor Presentation August 2022#2nLIGHT at a Glance Focus Founded Headquarters 2021 Financials Patents Technology End Markets High-power semiconductor and fiber lasers 2000 Camas, WA USA $270M Revenue (21% y-o-y growth) $22.6M Adjusted EBITDA > 500 issued and pending Vertically integrated with leading technology in semiconductor and fiber lasers Industrial, aerospace and defense, and microfabrication NLIGHT 2 Adjusted EBITDA is a non-GAAP measure. Please refer to the appendix for a reconciliation of Adjusted EBITDA to net income (loss).#3nLIGHT Strategy | Continued technology innovation Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on growing markets enabled by high power lasers Growth 21% growth in 2021 in-line with historical CAGR of > 20% NLIGHT Note: Revenue CAGR based on 2016-2020. 3#4nLIGHT Strategy | Vertically integrated from semiconductor to beam control Semiconductor Device Semiconductor Fiber Coupled Optical Fiber Fiber Laser NLIGHT Percentages may not sum to 100% due to rounding. о 0 Integrated Beam Control 4#5nLIGHT Strategy | Focused on growing markets Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on growing markets enabled by high power lasers Financials 21% growth in 2021 in-line with historical CAGR of > 20% NLIGHT Note: Revenue CAGR based on 2016-2020. 5#6Key Markets | Growth driven by Industrial (outside of China) and A&D Laser Market Growth Outlook by Application $ Millions; Percent Annual Growth Estimated 2020-2025 Microfabrication Industrial Cutting Defense Welding 2020 Additive 20% 10% 11% 2025 $0 $200 $400 $600 NLIGHT Source: Mclnsey; Optech, nLIGHT Analysi 14% 6% $800 $1,000 6#7Key Markets | Growth driven by Industrial (outside of China) and A&D Laser Market Growth Outlook by Application $ Millions; Percent Annual Growth Estimated 2020-2025 Microfabrication Industrial Cutting Defense Welding 2020 Additive 20% 10% 11% 2025 $0 $200 $400 $600 N LIGHT Source: Mclnsey; Optech, nLIGHT Analysi 14% 6% $800 $1,000 7#8Microfabrication | Proliferation of applications enabled by lasers SENCO OLED, Flexible and HDI PCBS 5G, connected devices, wearables Semiconductor Equipment AI/VR, automation, automotive, electronic devices Marking automotive, EV, semiconductor Medical aesthetics, automation, surgical Electronics and Adv Packaging proliferation of electronic devices NLIGHT Quantum Computing Lasers for quantum 8 00#9Microfabrication | nLIGHT is a leader in core semiconductor laser technology Semiconductor Semiconductor Chip Laser Solid-State Laser Laser System N LIGHT element simply brilliant LIGHT NLIGHT IceFyre 9#10Industrial | Vertically integrated from semiconductor to beam control Semiconductor Device Semiconductor Fiber Coupled Optical Fiber Fiber Integrated Laser Beam Control NLIGHT Percentages may not sum to 100% due to rounding. 0 plasmo real-time process monitoring solutions February 2022 | nLIGHT Acquires Plasmo Industrietechnik 12#11Industrial | Lasers are displacing legacy machine tools Machine Tool Market $ Billions Industrial Laser Market $ Billions $100 $25 $90 $80 $20 Machine Tools $70 $60 $15 $50 $40 $10 Industrial Lasers $30 $20 $5 $10 $0 $0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 10% N LIGHT Source: Optech, nLIGHT Analysis 15% Laser Share of Tools 20% 25% 13#12Key Markets | Growth driven by Industrial (outside of China) and A&D Laser Market Growth Outlook by Application $ Millions; Percent Annual Growth Estimated 2020-2025 Microfabrication Industrial Cutting Defense Welding 2020 Additive 20% 10% 11% 2025 $0 $200 $400 $600 N LIGHT Source: Mclnsey; Optech, nLIGHT Analysi 14% 6% $800 $1,000 14#13Metal Cutting nLIGHT high power fiber lasers cut thick metal Note: illustrative application does not imply or constitute endorsement.#14Industrial | Metal cutting market continues to grow High-Power Lasers for Metal Cutting* $ Millions $1,600 $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 CO2 Lasers Fiber Lasers 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022F 2023F 2024F NLIGHT *Note:: CO2 Lasers include other legacy and fiber lasers include disk lasers Source: Optech & nLIGHT Analysis 16#15Cutting | Beam control optimizes thick and thin cutting with a single laser Thin Cutting Mode Nitrogen cutting of thin and non-ferrous metals Thick Cutting Mode Oxygen cutting of thick mild steel Small "Flat Top❞ Beam Large "Donut Mode" Beam NLIGHT 2D view from fiber end face (left) 3D beam intensity (right) 17 Images: illustrative representative applications.#16Welding nLIGHT fiber lasers enabling new electric vehicles Note: illustrative application does not imply or constitute endorsement. 000#17Welding | Beam control optimizes seam width, depth, and spatter reduction Deep Penetration Keyhole Welding Mode improved productivity with lower heat input and minimal distortion Small "Flat Top" Beam Shallow Conduction Welding Mode keyhole stability and spatter reduction in aluminum battery housings and other parts Large "Donut Mode" Beam NLIGHT 2D view from fiber end face (left) 3D beam intensity (right) 19#18ELO 9734 Additive Manufacturing nLIGHT fiber lasers making the impossible, possible VEL Note: illustrative application does not imply or constitute endorsement.#19Additive | Beam control allows fine processing and fast build rates Fine Feature Print Mode small spot size for printing of fine features Coarse Print Mode large spot size for faster build rates with good quality "Small "Flat Top" Beam Large "Donut Mode" Beam NLIGHT 2D view from fiber end face (left) 3D beam intensity (right) 21 24#20Key Markets | Growth driven by Industrial (outside of China) and A&D Laser Market Growth Outlook by Application $ Millions; Percent Annual Growth Estimated 2020-2025 Microfabrication Industrial Cutting Defense Welding 2020 Additive 20% 10% 11% 2025 $0 $200 $400 $600 NLIGHT Source: Mclnsey; Optech, nLIGHT Analysi 14% 6% $800 $1,000 22 22#21Defense | Strong track record in broad range of applications Ranging Countermeasures Space Communications Exploration NLIGHT Guidance Images: Illustrative products and applications neither implies nor constitutes endorsement. Directed Energy 23 23#22Directed Energy | High priority for the Department of Defense U.S. Budget for High-Energy Lasers for Directed Energy $ Millions $1,200 $1,000 $800 $600 $400 $200 $0 2015 2016 2017 2018 2019 2020 2021 N LIGHT Note: US Federal Fiscal Year Budget Analysis. Source: Based on data and analysis provided by the Directed Energy Professional Society, Cypress International and the Department of Defense Budget. 24 24#23Defense | Vertically integrated from semiconductor to beam control Semiconductor Device Semiconductor Fiber Coupled Optical Fiber Fiber Laser Beam Control NLIGHT O 0 O 25 25#24Defense | Directed energy weapons require power well beyond commercial markets Single Mode Fiber Laser Power Watts 1,000,000 100,000 10,000 1,000 100 10 1995 NLIGHT Directed Energy High Energy Laser Scaling Initiative HELSI 2000 Industrial Source: Jeff Hecht; nLIGHT Analysis 2005 2010 2015 2020 2025 26 26#25nLIGHT Strategy | Continued technology innovation Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on geographies and markets driven by growing applications Growth NLIGHT 21% growth in 2021 in-line with historical CAGR of > 20% Note: Revenue CAGR based on 2016-2020. 27 27#26- 2021 Revenue | 21% Y-O-Y growth in '21 – in line with historical CAGR nLIGHT Worldwide Revenue $ Millions $300 $250 $200 CAGR 23% $150 $139 $101 $100 $87 $63 $50 $191 $177 $223 $270 $0 2014 2015 2016 2017 2018 2019 2020 2021 YOY Growth 37% 16% 37% 38% -8% 26% 21% N LIGHT 28#272021 Revenue | Non-China revenue grew 41% y-o-y to a record $215M Annual Revenue - Geography $ Millions $300 $250 $200 $150 $270 Geography 2021 vs. 2020 Change +21% 20% $223 China -22% $191 $177 32% 37% $139 36% $101 40% $100 80% 38% 68% 63% $50 64% 60% 62% $0 2016 2017 2018 2019 2020 2021 N LIGHT Percentages may not sum to 100% due to rounding. Non-China +41% 29 29#28Quarterly Revenue | 92% of total revenue from Non-China customers Quarterly Revenue - Geography $ Millions $75 $60 Geography Q2 '22 vs. Q2 '21 Change -12% $72 $69 $67 $66 $64 19% $62 $61 11% $61 11% China 27% 8% -75% 28% $52 25% 31% $52 $51 $48 $46 $45 $42 $42 $44 $43 $43 33% $37 $37 41% 46% 32% 38% $35 28% 36% 33% 40% 35% $30 $29 $30 38% $25 $26 40% 43% $22 40% 40% 29% 41% 40% $15 89% 81% 89% 92% 73% 72% 75% 69% 67% 68% 64% 54% 67% 62% 50% 65% 72% 59% $0 71% 59% 60% 60% 60% 57% 50% 52% Non-China Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2021 2022 NLIGHT 2017 Percentages may not total to 100 due to rounding 2018 2019 2020 +12% 30 50#29Revenue | Focused on growing applications Annual Revenue - Market $ Millions $300 $250 $200 CAGR 23% $270 Market 2021 vs. 2020 Change +21% Microfabrication $223 26% +36% $191 23% $177 $150 39% $139 35% 32% +12% 38% Industrial +66% Non-China -33% China $101 44% $100 47% 43% 43% Aerospace/Defense $50 41% 39% +21% 39% 34% 18% 24% 19% 15% $0 2016 2017 2018 2019 2020 2021 N LIGHT 31 34 Percentages may not sum to 100% due to rounding.#30Quarterly Revenue | By end market Quarterly Revenue - By Market $ Millions $75 $60 Market Q2'22 vs. Q2 '21 Change -12% $72 $69 $67 $66 $64 $62 $61 24% $61 Microfabrication 20% 29% 25% -19% 27% $52 23% 25% 27% $52 $51 $48 $46 $45 $42 $42 $44 $43 $43 27% $37 $37 38% 39% 36% 37% 38% 33% $35 41% 30% 26% 24% 35% 36% 37% 35% 35% Industrial -12% 37% $30 36% $30 $29 $25 $26 40% 45% 46% $22 42% 44% 46% 50% $15 51% 43% 37% 43% 41% 43% 49% 44% 38% 43% 45% 44% 44% 38% 42% 38% 38% 40% 42% 42% 40% 35% 36% 37% -6% 35% 33% 28% 39% 29% 26% 30% 19% 19% 17% 20% 18% 14% 14% 16% 18% 13% 20% 21% 22% 19% $0 Aerospace/Defense Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 NLIGHT 2017 2018 Percentages may not total to 100 due to rounding 2019 2020 2021 2022 32 32#31Industrial Revenue | 43% y-o-y growth in non-China Industrial revenue in Q2 '22 Non-China Industrial Revenue $ Millions $25 $20 $15 $10 $9 $5 $0 2x Increase $20 $14 Q220 Q221 Q222 YOY Growth 54% 43% N LIGHT 33 33#32Gross Margin | Product and Development Revenue and Gross Margin - Quarterly $ Millions; % of Revenue $80 Revenue Overall GM % 40% $70 35% 36% 34% 35% 34% Products GM % 37% 36% 36% 36% 32% 33% 35% 33% 33% 30% 30% $60 32% 30% 31% 28% 30% 29% 30% 30% 29% 29% 30% $50 24% 24% 28% 27% 25% 25% 25% 25% 24% 23% $40 22% 22% 20% $30 15% 15% $20 10% $10 5% $0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 2019 2020 2021 2022 NLIGHT == 34#33Operating Expenses | R&D and SG&A Operating Expenses (Non-GAAP) $ Millions; % of Revenue $20 $19.3 40% SG&A R&D $18.8 $18.1 $18.2 $17.6 35% OpEx as % of Sales $15 $15.1 $14.7 $14.3 $14.2 $13.0 $12.9 $12.5 $12.8 $12.9 $12.1 $11.4 $11.2 $10.4 8.4 9.0 30% 7.8 8.1 7.7 25% $10 6.5 7.1 6.4 7.3 6.7 7.0 7.2 6.9 6.2 6.0 6.7 6.3 6.1 20% 15% $5 9.9 10.3 10.4 10.1 10.3 10% 7.9 8.2 8.1 6.9 5.8 5.9 5.8 6.0 6.1 6.5 4.3 4.7 5.0 5% $0 0% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2018 2019 2020 2021 2022 NLIGHT Note: Excluding stock-based compensation expense, amortization of purchased intangibles and acquisition and integration-related costs. See Appendix for a reconciliation to GAAP operating expenses. 35 55#34Summary Financial Results | Profitability and Cash Flow Full Year and Q2 2022 $ Millions; % of Revenue Q2 2021 Q2 2022 2020 2021 Net Income (Loss) ($7.9) ($10.3) ($20.9) ($29.7) Non-GAAP Net Income (Loss)* 4.4 (3.3) 7.3 10.7 Net Income (Loss) Per Share (diluted) (0.19) (0.23) (0.55) (0.70) Non-GAAP Net Income (Loss) Per Share (diluted)* 0.09 (0.07) 0.17 0.23 Adjusted EBITDA (non-GAAP)* 6.3 0.2 18.2 22.6 Cash Flow from (used in) Operations Capital Expenditures (1.0) (4.8) 13.0 (7.4) (4.8) (7.9) (23.4) (19.3) N LIGHT * See Appendix for reconciliation to most directly comparable GAAP measure 36#35nLIGHT Strategy | Continued technology innovation Technology Vertically integrated from semiconductor to laser beam delivery Market Focused on geographies and markets driven by growing applications Growth Growing >20% CAGR NLIGHT Note: Revenue CAGR based on 2016-2020. 37#36Appendix#37Supplemental Information | Revenue and Gross Margin nLight, Inc. (in thousands, except per share data) Revenue: Products Development Total revenue 01 Q2 2018 Q3 Q4 Totals Q1 Q2 2019 Q3 Q4 Totals Q1 02 2020 Q3 Q4 Totals Q1 Q2 2021 Q3 Q4 Totals Q1 2022 Q2 Totals $ 42,467 $ 51,705 $ 51,025 $ 46,162 $191,359 $ 42,467 51,705 51,025 46,162 191,359 41,861 48,048 43,814 41,861 $ 48,048 $ 43,814 $ 40,336 $174,059 $ 2,560 42,896 2,560 176,619 36,930 $ 6,285 43,215 61,732 45,104 $ 51,117 $ 51,690 $184,841 $ 7,034 10,615 14,014 37,948 52,138 65,704 222,789 17,842 16,547 47,335 $ 53,561 $ 54,393 $ 50,906 $206,195 $ 51,061 $ 48,180 $ 99,241 14,010 15,552 13,398 12,647 61,345 69,113 72,235 67,453 63,951 270,146 26,045 64,459 60,827 125.286 Cost of revenue: Products 27,738 34,026 32,978 29,656 124,398 28,347 32,177 30,852 Development Total cost of revenue 27,738 34,026 32,978 29,656 124,398 28,347 32,177 30,852 30,637 2,267 32,904 122,013 27,900 32,597 34,645 33,113 128,255 30,395 34,240 34,193 34,039 132,867 35,768 33,683 69,451 2,267 124,280 5,814 6,485 33,714 39,082 9,927 44,572 12,944 35,170 13,305 14,548 16,647 15,472 59,972 12,514 11,759 24,273 46,057 163,425 43,700 48,788 50,840 49,511 192,839| 48,282 45,442 93,724 Gross profit: Products 14,729 17,679 18,047 16,506 66,961 13,514 15,871 12,962 Development 9,699 293 52,046 Total gross profit 14,729 17,679 18,047 16,506 66,961 13,514 15,871 12,962 9,992 293 52,339 9,030 471 9,501 12,507 549 13.056 16,472 688 17,160 18,577 56,586 16,940 19,321 20,200 16,867 1,070 2,778 19,647 59,364 705 17,645 1,004 1,195 20,325 21,395 1,075 17,942 73,328 3,979 77,307 15,293 14,497 29,790 884 888 1,772 16,177 15,385 31,562 Gross margin: Products 34.7 % 34.2% 35.4 % 35.8% 35.0 % 32.3 % 33.0% 29.6% 24.0% 29.9% 24.5 % 27.7 % 32.2% 35.9% 30.6% 35.8 % 36.1 % 37.1 % 33.1 % 35.6% 30.0 % 30.1% 30.0% Development 11.4% 11.4% 7.5% 7.8% 6.5% 7.6% 7.3% 5.0 % 6.5% 6.7 % 6.5% 6.2% 6.6% 7.0% 6.8% Total gross margin 34.7% 34.2% 35.4 % 35.8% 35.0% 32.3% 33.0% 29.6% 23.3% 29.6% 22.0% 25.0 % 27.8% 29.9% 26.6 % 28.8% 29.4% 29.6% 26.6 % 28.6% 25.1% 25.3% 25.2% NLIGHT 39#38GAAP to Non-GAAP Reconciliation | Operating Expenses nLight, Inc. (in thousands, except per share data) Non-GAAP adjustments: Stock-based compensation in R&D 2018 2019 2020 2021 2022 01 Q2 Q3 Q4 GAAP research and development ("R&D") expense $ 4,283 $ 4,898 $ 5,475 $ 6,398 $ Totals 21,054 $ Q1 02 Q3 Q4 6.422 $ 6,494 $ 6,402 $ 8,819 $ Totals 28,137 $ Q1 Q2 Q3 Q4 8,538 $ 9,472 $ 11,126 $ Totals 12,028 $ 41,164 $ Q1 Q2 Q3 Q4 Totals Q1 Q2 Totals 11,710 $ 14,282 $ 14,838 $ 13,984 $ 54,814 $ 13,711 $ 13,788 $ 27,499 (25) (200) (513) (555) (1,293) (558) (711) (424) Amortization of purchased intangibles Non-GAAP R&D expense S 4,258 $ 4,698 $ 4,962 S 5,843 $ 19.761 S 5,864 S 5,783 $ 5,978 $ (1,606) (3,299) (328) (328) 6.885 $ 24,510 $ (1,782) (656) 6,100 $ (2,275) (656) 6,541 $ (2,545) (696) 7,885 $ (3,101) (9,703) (716) (2,724) (2,918) (717) 8,211 $ 28,737 $ 8,075 (3,708) (718) 9,856 $ 10,338 (3,782) (718) (3,025) (518) 10,441 $ 38,710 $ (13,433) (2,671) (3,122) (472) 10,116 $ (3,117) (407) 10.264 $ 20,380 (6,239) (879) GAAP selling, general and administrative ("SG&A") expense 6,239 7,232 7,483 7,890 28,844 8,144 8,572 7,257 10,139 34,111 7,700 9,633 10,010 11,905 39,248 11,714 15.057 13,316 12,623 52,710 10,775 11,914 22,689 Non-GAAP adjustments: Stock-based compensation in SG&A (115) (544) (1,207) (1,190) (3,056) (1,142) (1,403) (315) (2,370) Acqusition and integration-related costs (470) (5,230) (470) (1,636) (3,423) (3,633) (5,448) Non-GAAP SG&A expense $ 6,124 $ 6,688 $ 6,276 $ 6,700 $ 25,788 $ 7,002 $ 7,169 $ 6,942 $ 7,299 $ (50.00) 28,411 $ 6,014 $ (14,140) (50) (4,645) 6,210 $ 6,377 $ 6,457 $ 25,058 $ 7,069 $ (7,349) 7,708 $ (5,550) (4,238) (21,782) (2,722) (2,879) (5,601) 7,766 $ 8,385 $ 30,928 $ 8,053 $ 9,035 $ 17,088 NLIGHT 40 40#39GAAP to Non-GAAP Reconciliation | Adjusted EBITDA, Net Income and EPS nLight, Inc. 2018 (in thousands, except per share data) °° Q2 Q3 04 Total Q1 Q2 2019 Q3 2020 2021 2022 Q4 Net income (loss) Adjustments: Income tax expense (benefit) $ 2,916 $ 4,653 $ 4,009 $ 2,360 $ 13,938 $ (1,235) $ (155) $ (778) $ (10,716) $ Total (12,884) $ Q1 (7,475) $ Q2 (6,830) $ Q3 Q4 (2,110) $ (4,517) $ Total (20,932) $ Q1 Q2 (6,149) $ (7,890) $ Q3 (6,880) $ Q4 (8,750) $ Total (29,669) $ 01 Q2 Total (8,623) $ (10,342) $ (18,965) 1,149 848 839 764 3,600 1,753 793 837 2,736 6,119 905 418 (1,485) 502 340 322 Other (income) expense (76) 42 537 (250) 253 (820) 907 (90) (532) (535) 116 298 (477) (315) (378) Interest (income) expense, net 219 6 (298) (655) (728) (750) (740) (665) (454) (2,609) (283) 65 96 44 (78) (26) 74 (1,038) (118) 203 138 (375) 343 (10) 333 (102) (90) (336) (29) 106 77 32 20 37 163 (0) (71) (71) Depreciation and amortization 1,946 2,172 2,194 1,976 8,288 2,212 2,269 2,313 2,770 9,564 3,161 3,268 Stock-based compensation 162 806 1,903 1,934 4,805 1,909 2,381 1,079 4,361 9,730 3,763 6,037 3,504 6,683 3,752 8,981 13,685 3,717 3,695 Acquisition and integration-related costs 470 470 50 Adjusted EBITDA $ 6,316 $ 8,527 $ 9,184 $ 6,129 $ 30,156 $ 3,069 $ 5,455 $ 2,696 $ (1,365) $ 9,855 $ 237 $ 3,256 $ 6,211 $ 8,447 $ 25.464 50 18,151 $ 8,054 11,606 3,899 10,072 3,748 7,988 15,059 37,720 3,738 3,805 7,543 6,553 6,680 13,233 5,992 $ 6,287 $ 7,212 $ 3,071 $ 22,562 $ 1,982 $ 168 $ 2,150 Net income (loss) $ 2,916 $ 4,653 $ 4,009 $ 2,360 $ 13,938 $ (1,235) $ (155) $ (778) $ (10,716) $ (12,884) $ (7,475) $ (6,830) $ (2,110) $ (4,517) $ (20,932) $ (6,149) $ (7,890) $ (6,880) $ (8,750) $ (29,669) $ (8,623) $ (10,342) $ (18,965) Add back: Stock-based compensation (¹) 162 806 1,903 1,934 4,805 1,909 2,381 1,079 Valuation allowance on foreign deferred tax assets 4,361 3,423 9,730 3,763 6,037 6,683 8,981 25,464 8,054 11,606 10,072 7,988 37,720 6,553 6,680 13.233 3,423 Acquisition and integration-related costs 470 470 Amortization of purchased intangibles Non-GAAP net income (loss) $ 3,078 $ 5,459 $ 5,912 $ 4,294 $ 18,743 $ 674 $ 2,226 $ 301 $ 328 (2,134) $ 328 50 656 656 1,067 $ (3,006) $ (137) 696 5,269 716 $ 5,180 $ 50 2,724 7,306 $ 717 2,622 $ 718 4,434 $ 718 518 3,910 $ (244) $ 2,671 10,722 $ 472 407 879 (1,598) $ (3,256) $ (4,853) GAAP weighted-average shares outstanding stock 3,031 24,642 24,491 7,940 35,007 36,441 24,862 8,056 36,694 37,065 37,262 37,463 37,119 37,846 38,177 38.558 38,877 38,367 40,048 42,313 42,884 43,277 42,142 43,655 44,178 43,919 Participating securities Non-GAAP weighted-average number of shares, basic Dilutive effect of common stock equivalents 27,673 32,431 35,007 36,441 32,918 36,694 37,065 Non-GAAP weighted-average number of shares, diluted 4,492 32,165 5,265 5,325 4,798 37,696 40,332 41,239 5,097 38,015 4,585 41,279 4,391 41,456 444 37,706 4,016 41,722 37,463 37,463 319 37,438 4.360 41,798 37,846 38,177 37,846 38,177 629 39,187 4,290 43,477 653 39,530 4,654 44,184 544 38,911 4,228 43,139 653 40,701 4,691 45,392 614 42,927 4,334 47,261 774 43,658 3,986 47,644 43,277 699 42,841 4,341 43,655 44,178 43,919 43,277 47,182 43,655 44,178 43,919 Non-GAAP net income (loss) per share, basic $ 0.11 $ 0.17 $ Non-GAAP net income (loss) per share, diluted 0.10 0.14 0.17 $ 0.15 0.12 $ 0.10 0.57 $ 0.49 0.02 0.02 $ 0.06 $ 0.05 0.01 $ 0.01 (0.06) $ (0.06) 0.03 $ 0.03 (0.08) $ (0.08) 0.00 $ 0.00 0.13 $ 0.12 0.13 $ 0.12 0.19 $ 0.06 $ 0.17 0.06 0.10 0.09 $ 0.09 $ 0.08 (0.01) $ (0.01) 0.25 $ 0.23 (0.04) $ (0.07) $ (0.11) (0.04) (0.07) (0.11) NLIGHT (1) There is no income tax effect related to the stock-based compensation, acquisition and integration-related costs, and amortization of purchased intangibles adjustments due to the full valuation allowance in the U.S. 41 11#40Supplemental Information | Key Revenue Metrics nLight, Inc. (in thousands, except per share data) Revenues by end market Industrial Microfabrication Aerospace and defense Total revenues Q1 Q2 2018 Q3 2019 Q4 Totals Q1 Q2 Q3 Q4 Totals Q1 Q2 2020 Q3 Q4 Totals Q1 Q2 2021 Q3 2022 Q4 Totals Q1 Q2 Totals $ 19,146 $ 25,251 15,619 7,703 42,467 19,497 6,957 51,705 74,109 34,488 191,359 14,533 9.204 41,861 20,890 $ 17,476 $ 82,762 $18,124 $ 20,920 $ 18,977 $ 18,647 $ 19,922 19,071 13,280 11,246 10,213 9,615 11,556 13,003 51,025 46,162 43,814 42,896 18,094 9,034 48,048 76,669 57,152 42,798 $ 15,990 $ 22,630 $ 21,880 $ 23,978 $ 84,478 $ 21,400 $ 24,907 $ 26,737 $ 21,751 $ 94,795 $ 23,996 $ 21,899 $ 45,895 10,419 14,300 14,052 12,878 51,649 15,215 20,274 17,695 17,228 70,412 17,319 16,415 33,734 16,806 15,208 25,800 28,848 86,662 24,730 176,619 43,215 52,138 61,732 65,704 222,789 61,345 23,932 69,113 27,803 28,474 104,939 23,144 22,513 45,657 72,235 67,453 270,146 64,459 60,827 125,286 Industrial as % of total 45% 49 % 41 % 38% 43 % 43 % 44 % 43 % 43 % 43 % 37% 43 % 35 % 36% 38 % 35 % 36 % 37 % Microfabrication as % of total 37% 38 % 39% 41% 39 % 35% Aerospace and defense as % of total 18% 13% 20% 21% 18% 22% 38 % 19% 30% 26% 26% 30% 32% 24 % 24 % 39% 27 % 29% 23% 20% 23 % 25 % 29% 25% 32% 26% 35% 37% 36% 37 % 26 % 27 % 27 % 27% 42% 44% 39 % 40 % 35% 38 % 42% 39 % 36% 37% 36% Revenues by geography North America 70,362 $ 15,697 $ 17,899 $ 16,249 $ 17,217 China Rest of World Total revenues $ 16,109 $ 16,101 $ 20,101 $ 18,052 $ $ 15,212 23,923 16,683 14,720 70,538 13,725 18,444 17,519 14,883 12,042 21,495 19,186 18,159 70,882 15,577 18,759 13,709 7,401 55,446 7,139 4,672 11,811 11,146 11,682 14,241 13,390 50,459 12.438 11,705 10,045 10,795 44,985 10,127 10,149 11,162 12,845 44,283 14,634 17,259 42,467 51,705 51,025 46,162 191,359 41,861 48,048 43,814 42,896 176,619 43,215 52,138 61,732 65,704 222,789 61,345 69,113 21,096 72,235 18,479 71,468 22,176 20,473 42,649 67,453 270,146 64,459 60,827 125,286 67,062 $ 21,046 $ 20,494 $ 31,384 $ 34,700 $ 107,624 $ 31,134 $ 33,095 $ 37,430 $ 41,573 $ 143,232 $ 35,144 $ 35,682 $ 70,826 64,573 North America as % of total 38 % 31 % 39% 39% 37% 37 % 37 % 37 % 40 % 38 % 49% 39 % 51 % 53% 48 % 51 % 48 % 52% 62% 53% 55% 59 % 57 % China as % of total 36 % 46 % 33 % 32% 37 % 33% 38 % 40 % 35% 37 % 28 % 41 % 31% 28% 32 % 25% 27% 19% 11% 21 % 11 % 8% Rest of World as % of total 26% 23% 28 % 29% 26% 30% 24 % 23% 25% 25% 23% 19 % 18% 20% 20% 24 % 25% 29 % 27% 26 % 34 % 34% 9% 34% Fiber laser revenue by power level High-power (> 6kW) 17 % 24 % 30 % 27% 24 % 24 % 35% 40 % 47% 37% 49 % 54 % 58% 47% 52% 54 % 51 % 50% 40% 49 % 39 % 40 % 39 % Medium-power (2kW - 5kW) 49 % 44 % 43 % 51% 47 % 57 % 48 % 39 % 39 % 45 % 39 % 35% 34 % 39% 36 % 29% 32% 23 % 29% 28 % 26% 19% 23% Low-power (<2kW) 34% 32% 27% 22% 29% 19% 17 % 20% 14% 17 % 12% 11 % 8% 14% 11 % 17 % 17% 27% 31% 23% 35% 41% 38 % NLIGHT Note: Percentages may not total to 100 due to rounding. 42 42#4117% 17% 27% 31% 35% Supplemental Information | Revenue by power level Fiber Laser Revenue by Power - Quarterly Percent of total fiber laser sales 100% 90% 80% 34% 32% 27% 22% 19% 17% 20% 14% 12% 11% 9% 14% 43% 51% 49% Low Power < 2kW 41% 70% -60% 59% 64% 61% 58% 39% 39% 35% 34% 29% 39% 32% 60% Medium Power 48% 39% 23% 2kW - 5kW 50% 43% 51% 57% 29% 26% 19% 44% 40% 49% 43% 30% 39% 45% 20% 40% 41% 36% 39% 40% 10% 0% 58% 54% 47% 49% 47% 54% 51% 50% 40% 40% 39% 40% 35% 30% High Power >6kW 27% 24% 24% 13% 14% 17% 2% 4% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2016 2017 2018 2019 2020 2021 2022 NLIGHT Note: Percentages may not total to 100 due to rounding. 43 23#42nLIGHT simply brilliant