Wolfspeed Successfully Completes Financial Restructuring, Emerges as Financially Stronger Company Well Positioned in Silicon Carbide Market

Core Insights - Wolfspeed, Inc. has successfully completed its financial restructuring and emerged from Chapter 11 protection [1] - The company has reduced its total debt by approximately 70% [1] - Maturities of the debt have been extended to 2030 [1] - Annual cash interest expense has been lowered by roughly 60% [1] - The company believes it maintains ample liquidity to continue operations [1]