We are excited to announce that Wolfspeed signed a non-binding preliminary memorandum of terms (PMT) for up to a $750M Grant from the U.S. CHIPS Act as well as an incremental investment from Apollo Global Management, an equity offering to several large investors, and the expected $1B in section 48D cash tax credits. In total, this additional $2.5B in liquidity will help fund our critical investments in next-generation 200mm technology.

These funds, which will be received over several years, will enable Wolfspeed to accelerate innovation and complete its multi-billion-dollar capacity expansion plan, which consists of the largest and most advanced 200mm silicon carbide footprint in the world.

We look forward to our on-going collaboration and delivering you The Power to Make It Real.™

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