Wolfspeed, Inc.

( Renesas ) received on account of their claims: (a) a principal amount of approximately $203.6 million of new 2.5% Convertible Second-Lien Senior Secured Notes due 2031 ( New Renesas 2L Convertible Notes ), with a fair value of $216.3 million, (b) a warrant to purchase up to 4,943,555 shares of New Common Stock at an exercise price of $23.95 per share ( Renesas Warrants ), which became exercisable on January 29, 2026, upon receipt of Regulatory Approvals, and (c) 16,852,372 shares of New Common Stock from the Share Reserve ( Renesas Base Consideration Shares ), as defined in the Plan ( Forward Equity Contract ), the issuance of which was subject to Regulatory Approvals.

SEC original ↗Wolfspeed, Inc. — Earnings release (8-K exhibit)EX-99Sep 16, 2026

dollars in millions): Enterprise Value $ 2,600.0 Plus: Cash and cash equivalents (includes restricted cash) and short-term investments 835.4 Less: Fair value of debt issued upon emergence, including issuance costs, excluding equity-classified substantial premium (2,151.3 ) Less: Equity-classified substantial premium associated with New 2L Convertible Notes (168.8 ) Less: Fair value of the Renesas warrants (33.6 ) Less: Cash from MACOM shares sale captured in enterprise value (60.8 ) Less: Deposit liabilities included in cash (25.2 ) Less: Debt issuance costs (8.0 ) Less: Restricted cash (28.3 ) Implied value of Wolfspeed, Inc.

SEC original ↗Wolfspeed, Inc. — Earnings release (8-K exhibit)EX-99Sep 16, 2026

The Chapter 11 filings, including the Plan and the Disclosure Statement filed on June 30, 2025, were intended to facilitate a comprehensive balance sheet restructuring pursuant to a Restructuring Support Agreement (the Restructuring Support Agreement ) executed on June 22, 2025, with key stakeholders, including (i) holders of more than 97% of the Company s Senior Secured Notes due 2030 (the "Existing Senior Secured Notes"), (ii) holders of more than 67% of the Company s outstanding 1.75% Convertible Senior Notes due 2026, 0.25% Convertible Senior Notes due 2028, and 1.875% Convertible Senior Notes due 2029 (collectively, the Convertible Notes ), and (iii) Renesas Electronics America Inc.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

Impact of outstanding debt obligations.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

We have outstanding debt which could materially restrict our business and adversely affect our financial condition, liquidity and results of operations.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

11 Table of Contents Our ability to pay interest and repay the principal for or to refinance any outstanding indebtedness under the New 2L Renesas Convertible Notes, New 2L Non-Renesas Convertible Notes, the New 2L Non-Convertible Notes, the New Senior Secured Notes and the 1.5L Convertible Notes (in each case, as defined below) is dependent upon our ability to manage our business operations, generate sufficient cash flows to service such debt and/or raise additional capital, which is subject to economic, financial, competitive and other factors beyond our control.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

The New 2L Convertible Notes and New 2L Takeback Notes are guaranteed by the Company s subsidiaries and secured on a second-priority basis by substantially all of the Company s and guarantors assets.

SEC original ↗Wolfspeed, Inc. — Earnings release (8-K exhibit)EX-99Sep 16, 2026

("Wolfspeed", the "Company", "we", "our", or "us") is an innovator of wide bandgap semiconductors, focused on silicon carbide materials and devices for power applications.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

Research and Development We invest significant resources in research and development and are focusing on accelerating the pace of technological innovation in our products.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

During fiscal 2025, we completed the transition of our device production capacity from 150mm to 200mm offerings including the substantial completion of the initial phase of our major expansion projects.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

ISO 9001 is the international standard that specifies requirements for a quality management system and focuses on the ability to consistently provide products and services that meet customer requirements.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

All estimates, assumptions, valuations and financial projections, including the fair value adjustments, the estimated enterprise value and estimated equity value, are inherently subject to uncertainties and the resolution of contingencies beyond our control.

SEC original ↗Wolfspeed, Inc. — Earnings release (8-K exhibit)EX-99Sep 16, 2026

Legal Proceedings 25 Item 4.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

These forward-looking statements are subject to business, economic and other risks and uncertainties, both known and unknown, and actual results may differ materially from those contained in the forward-looking statements.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

Examples of risks and uncertainties that could cause actual results to differ materially from historical performance and any forward-looking statements include, but are not limited to, those described in Risk Factors in Item 1A of this Annual Report.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

Licensing activities and lawsuits to enforce intellectual property rights, particularly patent rights, are a common aspect of the semiconductor industry, and we attempt to ensure respect for our intellectual property rights through appropriate actions, including our recently filed lawsuit against Navitas Semiconductor Corp.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026

If we are unable to achieve a resolution by agreement, we may seek to enforce our rights or defend our position through litigation.

SEC original ↗Wolfspeed, Inc. — 10-K Annual report10-KAug 20, 2026