Wolfspeed Comments on Letter from JANA Partners

DURHAM, N.C.--(BUSINESS WIRE)-- Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, today issued the following statement in response to the letter from JANA Partners ("JANA") to Wolfspeed's Board of Directors:

Wolfspeed's Board of Directors and management team maintain an open dialogue with, and value constructive input from, our shareholders. The company continually evaluates options to enhance long-term value and is committed to acting in the best interests of all our shareholders. The Wolfspeed Board will carefully review JANA's letter, and we look forward to engaging with them in the near future.

About Wolfspeed, Inc.

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

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Wolfspeed® is a registered trademark of Wolfspeed, Inc.

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Investor Relations:
Tyler Gronbach
VP, External Affairs
919-407-4820
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