#1INVESTOR PRESENTATION September 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 August 24, 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 31% By Reporting Segment 46% 23% 45% ■ Materials ■ Networking ■Lasers By Market 38% 44% By Region (2) 34% 19% 10% 3% 7% ■ Industrial ■ Electronics ■Instrumentation ■Communications ■ North America ■ Asia Pacific Europe ■ 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. (1) II-VI Incorporated revenue by region is based on customer headquarter address; Coherent, Inc. revenue by region is based on customer ship to address. COHERENT Copyright 2022, Coherent. All rights reserved.#5☐ BUILDING 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 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) $4,837 CAGR 20% 10 Years of Continuous Revenue Growth Revenue (1) ($M) $1,362 $1,159 $972 $683 $742 $827 $516 $551 FY12 (1) (2) (3) COHERENT FY13 FY14 FY15 $2,380 $3,317 $3,106 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY22 PF 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. FY21 actual. See Appendix for reconciliation to most comparable GAAP measures. Copyright 2022, Coherent. All rights reserved. 6#7CORPORATE 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 US, 100% in Europe ■ Largest facility in China will by 100% by 2026 Energy PRODUCTS AND TECHNOLOGY Investing to help the world transition toward cleaner energy solutions Silicon Carbide for power electronics ■ Advanced Lithium Selenium Sulfur batteries ■ EV battery recycling solution BOARD DIVERSITY 13 total Board members Total electricity consumption (MWh) FY21 547,557 FY22 564,689 Self-generated electricity (%) 0% 0% 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 Q4 FY22 FINANCIAL HIGHLIGHTS(1) 5% 4% 1% 5% 7% Revenue Backlog Booking Revenue By End Market 12% $887M $1.0B $2.3B 66% 6% 5% Operating Income Earnings Per Share 17% $114.2M GAAP $0.23 GAAP $168.6M Non-GAAP $0.98 Non-GAAP 18% (1) II-VI standalone actuals as of June 30, 2022 (2) II-VI Incorporated revenue by region is based on customer headquarter address COHERENT Copyright 2022, Coherent. All rights reserved. 54% ■Communications ■ Industrial ■Consumer Electronics ■ Aerospace & Defense ■Life Sciences ■ Automotive & Other ■ North America Revenue By Region (2) Europe ■ China ■ Japan ■ Other 8#9ATTRACTIVE AND INCREASING OPERATING MARGINS Strong Execution and Synergy Realization Post Finisar Transaction Close Driving Margins Non-GAAP Gross Margin (1) Non-GAAP Operating Margin (1) 38% 31% 41% 40% 40% 39% 16% 9% 21% 20% 19% 19% IIVI FNSR Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 IIVI FNSR Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Last Quarter Before Close (2) Last Quarter Before Close (2) 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. II-VI figures are for the three months ended September 30, 2019 and Finisar figures are for the three months ended July 28, 2019. (1) (2) 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 "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 and micro-LED for mobile and wearables (AR/VR) 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 Copyright 2022, Coherent. All rights reserved. 13#14COMMUNICATIONS MARKET VERTICALS AND MEGATRENDS Datacom Increasing spend on cloud infrastructure ■ AI/ML 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 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 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 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 COHERENT Copyright 2022, Coherent. All rights reserved. 15#16INSTRUMENTATION MEGATRENDS ■ Smart healthcare evolution, largely based on technology ■ Point-of-care diagnostics ■ Personalized medicine ■ Environmental sustainability ■ Advanced instrumentation PRODUCTS ■ Materials, optics, lasers, and thermoelectrics Components to subassemblies and subsystems Optical, mechanical, electrical and software integration ■ ISO 9001 & 13485 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 COHERENT Copyright 2022, Coherent. All rights reserved. 16#17SILICON CARBIDE COHERENT Copyright 2022, Coherent. All rights reserved. 17#18POWER ELECTRONICS FOR GREEN ENERGY ELECTRIC VEHICLES SOLAR & WIND ENERGY SMART GRID POWER SWITCHING COHERENT Copyright 2022, Coherent. All rights reserved. 18#19TWO DECADES OF SIC MATERIALS INNOVATION Wafer Size 2 in 2000 Manufactured 3 in 2002 Demonstrated 2004 Manufactured 2005 Demonstrated 100 mm 2007 High Quality Wafer 2009 Manufactured 150 mm 2012 Demonstrated 2013 Manufactured World's First 200 mm Demonstrated 200 mm 2015 2019 2021 2024 COHERENT 4H n-Type 6H SI Back-end Processing in China Manufacturing 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#21COHERENT ACQUISITION COHERENT Copyright 2022, Coherent. All rights reserved. 21#22OLED AND MICRO-LED DISPLAY MANUFACTURING TECHNOLOGY LEADER ■ 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: • $350-$400M in FY23 • FY23-27: 7% CAGR (internal estimates) Leading market position for line beam systems 43 COHERENT Copyright 2022, Coherent. All rights reserved. 40 222#23FOCUSING ON THE GROWTH APPLICATIONS • PRECISION MANUFACTURING TAM: $10B CAGR: 9% EV battery welding • Medical device manufacturing Consumer goods manufacturing Sources: Optech Consulting - Laser Market Data, Internal Estimates • 0 SEMICONDUCTOR CAPITAL EQUIPMENT TAM: $6B CAGR: 6% Enabling communications, big data, automotive, and loT • Large investments in wafer fabs Sources: Strategies Unlimited 2021, SEMI, Internal Estimates • • 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 Note: TAM based on CY2022; CAGR based on 2022-27 timeframe. COHERENT Copyright 2022, Coherent. All rights reserved. 23#24SIGNIFICANT VALUE CREATION POTENTIAL FROM COHERENT SYNERGIES Cost of Goods Sold Supply chain management – procurement - ■ Infeed - Internal supply of enabling materials and components ■ Operational efficiencies at scale Operating Expenses ■ More efficient R&D with scale Development cost savings ■ Consolidation of corporate costs ■ Global functional model efficiencies COHERENT Copyright 2022, Coherent. All rights reserved. EXPECTED SYNERGIES WITHIN 3 YEARS $150M $100M TOTAL $250M 24#25WELL CAPITALIZED FOR FUTURE GROWTH¹ External Financing Sources ■ Debt $4.00 billion senior secured facilities allocated and priced ▪ $990 million notes issued Cash Net Debt Convertible Preferred Equity ■ $2.15 billion commitment from Bain Capital, $750 million of which has been received ■ Coupon: 5%, 4-year payable-in-kind, cash pay option thereafter ■ Conversion price of $85.00 per share (1) Reflects, as of 6/30/2022, proforma combined EBITDA at 6/30/22, including $250 million of cost synergies. Cash is reflected proforma combined for 6/30/22 with adjustments made for closing transactions. COHERENT Pro Forma Leverage Total Debt $5.0 billion 3.6x (1) $0.8 billion $4.2 billion 3.0x (1) PF Combined TTM Adj $1,407 million (incl. $250M synergies) EBITDA Fully-Diluted Shares II-VI basic shares 106.5M Stock comp shares 5.8M Series A preferred debt. 8.9M Convertible debt 7.3M Shares issued to Coherent 22.6M Series B preferred 25.9M Pro forma FDSO 177.0M 25 Copyright 2022, Coherent. All rights reserved.#26FINANCIAL APPENDIX COHERENT 26 Copyright 2022, Coherent. All rights reserved.#27II-VI SEGMENT REVENUE BY END MARKETS FOR FULL YEAR FY21 End Market Distribution of Full Year FY21 Revenue Reported Segments FY21 Revenue FY21 Op Margin - GAAP / Non- GAAP FY21/FY20 Revenue Growth Proforma(1) FY21/FY20 Revenue Growth Life Sciences, Communic a-tions Industrial Aerospace & Defense Semi Cap Consumer, Automotive, Other Photonic Solutions $2,038M 10% / 16% 31% 12% 94% 3% 0% 1% 2% Compound $1,068M 21% / 26% 30% 30% 13% 26% 19% 10% 32% Semiconductors II-VI Consolidated $3,106M 13% 19% 31% 18% 66% 10% 7% 4% 13% (1) Pro Forma calculation in accordance with ASC 805. COHERENT Copyright 2022, Coherent. All rights reserved. 22 27#28II-VI SEGMENT REVENUE BY END MARKETS FOR Q4FY22 QTD End Market Distribution of Q4FY22 QTD Revenue Reported Segments Q4FY21 Revenue Q4FY22 Revenue Q4FY22 Op Margin - GAAP / Non-GAAP Q4FY22/ Q4FY21 Revenue Growth Communica- tions Industrial Aerospace & Defense Semi Cap Life Sciences, Consumer, Automotive, Other Photonic Solutions $550M $597M 12% / 15% 9% 94% 3% 0% 1% 2% Compound $258M $290M 18% / 27% 12% 10% 31% 17% 14% 28% Semiconductors II-VI $808M $887M 13% / 19% 10% 66% 12% 5% 5% 12% Consolidated COHERENT Copyright 2022, Coherent. All rights reserved. 28#29II-VI SEGMENT REVENUE BY END MARKETS FOR FULL YEAR FY22 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 a-tions 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% COHERENT Copyright 2022, Coherent. All rights reserved. 29 29#30MAPPING 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 COHERENT Consumer Electronics Automotive Life Sciences ELECTRONICS Wireless Consumer Electronics Automotive INSTRUMENTATION Life Sciences Scientific Instrumentation Copyright 2022, Coherent. All rights reserved. Instrumentation 30#31FY22 REVENUE BY FY23 MARKET SEGMENTS End Market Distribution of Full Year FY22 Revenue Companies FY22 Revenue Communications Industrial Electronics Instrumentation II-VI Incorporated $3,317M 65% 21% 10% 4% Coherent, Inc. (1) $1,520M(1) 0% 75% 0% 25% Proforma Combined (2) $4,837 M (2) 45% 38% 7% 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. 31#32HYPOTHETICAL ILLUSTRATION OF EPS CALCULATION Example EPS Calculations $ Millions Non-GAAP net earnings Deduct Series A preferred stock dividends $ Hypothetical Earnings Levels for Q1 FY23 145.0 $ 150.0 $ 155.0 $ 165.0 $ 200.0 (6.9) Deduct Series B redeemable preferred dividends (28.7) Add back interest on II-VI Convertible Notes 0.4 (28.7) 0.4 (28.7) 0.4 (28.7) 0.4 0.4 Non-GAAP net earnings available to common shareholders $ 109.8 $ Diluted weighted average common shares Diluted earnings per common share on a non-GAAP basis $ 142.3 0.77 $ 121.7 $ 126.7 $ 136.7 $ 200.4 151.2 151.2 151.2 0.80 $ 0.84 $ 0.90 177.1 $ 1.13 COHERENT Copyright 2022, Coherent. All rights reserved. 32 2#33RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES Reconciliation of Segment Non-GAAP Operating Income (Loss) to GAAP Segment Operating Income (Loss) $ Millions (Unaudited) 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, Year Ended Jun 30, 2022 2021 2022 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. 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) Dec 31, 2021 Three Months Ended Sept 30, Dec 31, Dec 31, Six Months Ended Dec 31, 2021 2020 2021 2020 Non-GAAP Photonic Solutions Operating Income $ 76.9 $ 84.0 $ 84.1 $ 160.9 $ 162.3 Share-based compensation (9.4) (9.6) (12.1) (19.0) (22.6) Amortization of acquired intangibles (16.6) (17.0) (17.3) (33.6) (34.6) Restructuring, integration, and transaction expenses (1.1) (0.9) (6.2) (2.0) (6.2) Photonic Solutions GAAP Operating Income $ 49.8 $ 56.5 $ 48.5 $ 106.3 $ 98.9 Non-GAAP Compound Semiconductors Operating Income $ 82.4 $ 66.3 $ 88.9 $ 148.7 $ 149.6 Share-based compensation (9.3) (13.2) (16.0) (22.5) (21.0) Amortization of acquired intangibles (3.4) (3.4) (3.3) (6.8) (6.2) Restructuring, integration, and transaction expenses (1.2) 0.7 (1.2) (1.4) Start-up costs (11.3) - (11.3) Compound Semiconductors GAAP Operating Income $ 57.2 $ 49.7 $ 70.3 $ 106.9 $ 121.0 Non-GAAP Unallocated and Other Operating Income (Loss) $ $ $ $ Restructuring, integration, and transaction expenses Unallocated and Other GAAP Operating Income (Loss) (8.7) (11.2) (19.9) $ (8.7) $ (11.2) $ $ (19.9) $ Total GAAP Operating Income $ 98.2 $ 95.1 $ 118.7 $ 193.3 $ 219.9 Non-GAAP Operating Income $ 159.2 $ 150.2 $ 173.0 $ 309.6 $ 311.9 *Amounts may not recalculate due to rounding. Copyright 2022, Coherent. All rights reserved. 34#35RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES Reconciliation of GAAP Measures to non-GAAP Measures $ Millions (Unaudited) Three Months Ended Sep 30, Mar 31, Jun 30, 2020 2021 2021 Revenue S Gross profit on GAAP basis (1) 728.1 S 783.2 S 808.0 277.0 $ 290.0 $ 297.8 Share-based compensation 1.8 3.0 3.4 Amortization of acquired intangibles 9.6 9.6 9.8 Restructuring, transaction expenses, and other 1.8 0.7 Gross profit on non-GAAP basis $ 288.4 $ 304.4 $ 311.7 Non-GAAP gross margin 39.6% 38.9% 38.6% Operating income on GAAP basis $ 101.1 $ 85.1 $ 97.1 Share-based compensation 15.5 16.8 18.5 Amortization of acquired intangibles 20.2 20.8 20.6 Restructuring, integration, and transaction expenses 2.1 18.5 12.2 Operating income on non-GAAP basis 138.9 $ 141.0 $ 148.5 Non-GAAP operating margin 19.1% 18.0% 18.4% COHERENT (1) Amounts for prior periods have been recast to be calculated in a manner consistent with the Company's current reporting. 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 Reconciliation of GAAP Measures to non-GAAP Measures $ Millions (Unaudited) Three Months Ended Dec 31, Sept 30, Dec 31, Dec 31, Six Months Ended Dec 31, 2021 2021 2020 2021 2020 Revenue $806.8 $795.1 $786.6 $1,601.9 $1,514.6 Gross profit on GAAP basis(1) $ 311.2 $ 306.6 312.7 617.8 589.7 Share-based compensation 1.4 1.5 3.9 2.9 5.7 Amortization of acquired intangibles 9.7 9.6 9.8 19.3 19.4 Start-up costs 1.2 1.2 Restructuring, integration, and transaction expenses 1.2 4.2 1.2 4.2 Gross profit on non-GAAP basis 324.8 $ 317.7 330.6 642.4 $ 619.0 Non-GAAP gross margin 40.2% 40.0% 42.0% 40.1% 40.9% Operating income on GAAP basis 98.2 $ 95.1 118.7 $ 193.3 $ 219.9 Share-based compensation 18.7 22.7 28.1 41.4 43.6 Amortization of acquired intangibles 20.0 20.4 20.6 40.4 40.8 Start-up costs 11.3 11.3 Restructuring, integration, and transaction expenses 11.0 12.0 5.5 23.1 7.6 Operating income on non-GAAP basis $ 159.2 $ 150.2 173.0 $ 309.6 $ 311.9 Non-GAAP operating margin 19.7% 18.9% 22.0% 19.3% 20.6% COHERENT (1) Amounts for prior periods have been recast to be calculated in a manner consistent with the Company's current reporting. Copyright 2022, Coherent. All rights reserved. 37#38RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES THREE MONTHS ENDED 7/28/19 (LAST FINISAR STAND ALONE REPORT) Finisar Revenue Q1 FY20 $ 285.0 GAAP Gross Profit Amortizationof required technology 85.3 0.5 Stock compensation 2.9 Impairment of long-lived/intangible assets 1.7 Write off discontinued product inventory $ (1.8) Non-GAAP Gross Profit 88.6 Non-GAAP Gross Margin 31% GAAP Operating Income (Loss) $ (9.5) Total cost of revenue adjustment $ 3.4 Reduction in force costs and other restructuring $ 0.1 Stock compensation $ 12.8 Acquisition related costs $ 1.1 Amortization of purchased intangibles 0.2 Startup costs $ 17.1 Non-GAAP Operating Income 25.1 Non-GAAP Operating Margin 9% COHERENT Note: Dollars in millions. Q1 FY20 represents quarter ending October July 28, 2019. Copyright 2022, Coherent. All rights reserved. 38#39RECONCILIATION 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 Photonic Solutions Operating Income Measurement period adjustment on long-lived assets Share-based compensation Amortization of acquired intangibles Fair value adjustment on acquired inventory Restructuring, transaction expenses and other Photonic Solutions GAAP Operating Income Non-GAAP Compound Semiconductors Operating Income Measurement period adjustment on long-lived assets Share-based compensation Amortization of acquired intangibles Fair value adjustment on acquired inventory Three Months Ended Jun 30, 2021 Mar 31, Jun 30, Jun 30, Year Ended Jun 30, 2021 2020 2021 2020 $ 87.4 $ 74.5 $ 88.8 $ 324.3 $ 224.4 (1.9) (9.4) (7.6) (17.9) (39.6) (43.0) (17.3) (17.3) (15.9) (69.2) (53.3) (74.2) (0.2) (1.3) (4.0) (7.8) (4.0) $ 60.5 $ 48.3 $ 49.1 $ 207.7 $ 49.9 $ 61.1 $ 66.5 $ 35.8 $ 277.2 $ 100.6 (7.2) (9.3) (9.1) (6.1) (39.4) (20.1) (3.3) (3.5) (2.9) (13.0) (8.9) (6.4) Restructuring, transaction expenses, and other Compound Semiconductors GAAP Operating Income (0.8) (2.2) (3.6) (2.9) $ 47.7 $ 51.8 $ 19.6 $ 221.2 $ 62.3 Non-GAAP Unallocated and Other Operating Income (Loss) Finisar results S S Amortization of acquired intangibles $ (0.2) 1.9 (2.0) Fair value adjustment on acquired inventory (7.1) Severance and related - Share-based compensation (10.7) Severance and related - Other compensation (10.0) One-time costs related to the Finisar acquisition Restructuring, transaction expenses, and other (26.8) (11.1) (14.9) (1.3) (26.8) (17.8) Unallocated and Other GAAP Operating Income (Loss) $ (11.1) $ (14.9) $ (1.3) $ (26.8) $ (72.7) Total GAAP Operating Income $ 97.1 $ 85.1 $ 67.4 $ 402.1 $ 39.5 Non-GAAP Operating Income $ 148.5 $ 141.0 $ 124.6 $ 601.5 $ 324.8 Copyright 2022, Coherent. All rights reserved. 39#40RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES Reconciliation of Segment Non-GAAP Operating Income (Loss) to GAAP Segment Operating Income (Loss) $ Millions (Unaudited) Sept 30, Three Months Ended Jun 30, Sept 30, 2021 2021 2020 Non-GAAP Photonic Solutions Operating Income Share-based compensation $ 84.0 $ 87.4 $ 78.2 (9.6) (9.4) (10.5) Amortization of acquired intangibles (17.0) (17.3) (17.3) Restructuring, transaction expenses, and other (0.9) (0.2) Photonic Solutions GAAP Operating Income $ 56.5 $ 60.5 $ 50.4 Non-GAAP Compound Semiconductors Operating Income $ 66.3 $ 61.1 $ 60.7 Share-based compensation (13.2) (9.3) (5.0) Amortization of acquired intangibles (3.4) (3.3) (2.9) Restructuring, transaction expenses, and other (0.8) (2.1) Compound Semiconductors GAAP Operating Income $ 49.7 $ 47.7 $ 50.7 Non-GAAP Unallocated and Other Operating Income (Loss) $ $ Restructuring, transaction expenses, and other Unallocated and Other GAAP Operating Income (Loss) (11.2) (11.1) $ (11.2) $ (11.1) $ Total GAAP Operating Income Non-GAAP Operating Income COHERENT *Amounts may not recalculate due to rounding. $ 95.1 $ 97.1 $ 101.1 $ 150.2 $ 148.5 $ 138.9 Copyright 2022, Coherent. All rights reserved. 40 40#41COHERENT