Wolfspeed(WOLF) - 2024 Q4 - Annual Results

Exhibit 99.1 Wolfspeed Reports Financial Results for the Fourth Quarter and Full Fiscal Year 2024 Mohawk Valley Momentum Driving 100% Year-over-Year Growth in EV Revenue Mohawk Valley Fab Targeted to Reach 25% Utilization in Q1FY25, One Quarter Ahead of Schedule Company Plans to Accelerate Shift of Device Fabrication to 200mm Mohawk Valley Fab, Assess Timing of Closure of 150mm Durham Device Fab Reducing FY25 net CapEx Spend by $200 Million DURHAM, N.C. August 21, 2024 -- Wolfspeed, Inc. (NYSE: WOLF) today ...