FY24 Q2 Financial Outlook

SILICON 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

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