Wolfspeed’s facilities in Durham, NC and in Marcy, NY to Supply Silicon Carbide Devices to Power Future Mercedes-Benz® Electric Vehicle (EV) Platforms

Wolfspeed, Inc. (NYSE: WOLF) announced the company will be supplying Silicon
Carbide devices to power future Mercedes-Benz® Electric Vehicle (EV)
platforms, enabling greater efficiency in the powertrain.  Wolfspeed’s
semiconductors will be incorporated into next generation powertrain systems
for several Mercedes-Benz vehicle lines.

“Coming from a long-term technical collaboration history between our
companies, we have now chosen Wolfspeed as one of our key partners for
future Silicon Carbide devices, thus securing preferred long-term supply,
technology and quality of this decisive semiconductor component for our
electrification offensive,” said Dr. Gunnar Güthenke, Head of Procurement
and Supplier Quality for Mercedes-Benz.

As a leader in luxury vehicles, Mercedes-Benz understands the need for
superior performance. By leveraging Wolfspeed’s expertise and Silicon
Carbide devices to improve vehicle range and power, Mercedes-Benz plans to
have some of the most efficient EVs on the road.

“We are pleased to be supporting Mercedes-Benz, an organization with a long,
successful history of providing world-class performance and luxury vehicles,
as they introduce next-generation EVs to the market with highly efficient
power systems,” said Gregg Lowe, CEO of Wolfspeed. “We are continuing to
invest in our manufacturing capacity to support a steepening demand curve
for Silicon Carbide devices that will not only improve EV performance and
drive greater consumer adoption, but also support the sustainability efforts
of global automotive leaders like Mercedes-Benz.”

The Silicon Carbide power devices for Mercedes-Benz will be produced at
Wolfspeed’s facilities in Durham, North Carolina and its new 200mm Mohawk
Valley Fab in Marcy, New York. This Mohawk Valley Fab is the world’s largest
Silicon Carbide fabrication facility and is dramatically expanding
Wolfspeed’s production capacity. Earlier this year Wolfspeed also announced
it was beginning construction on a new Silicon Carbide materials facility in
North Carolina, which will expand its Silicon Carbide capacity by more than
10x.

About Wolfspeed, Inc.:

Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon
Carbide and GaN technologies. We provide industry-leading solutions for
efficient energy consumption and a sustainable future. Wolfspeed’s product
families include Silicon Carbide materials, power devices and RF devices
targeted for various applications such as electric vehicles, fast charging,
5G, renewable energy and storage, and aerospace and defense. We unleash the
power of possibilities through hard work, collaboration and a passion for
innovation. Learn more at www.wolfspeed.com