Wolfspeed Supply Chain Not Impacted by China Export License Control of Gallium and Germanium

Today, Wolfspeed, Inc. (NYSE: WOLF), the global leader in silicon carbide technology, issued the following statement regarding the recent decision by the Chinese Ministry of Commerce to restrict the export of gallium and germanium which is scheduled to take effect on August 1, 2023. The statement can be attributed to Wolfspeed spokesperson Melinda Walker.

"Following an internal review, the company has confirmed that its supply chain will not be impacted by the proposed export restrictions on gallium and germanium. Wolfspeed strives to manage its supply chain with our supply partners through principles such as quality, availability, social responsibility, and cost. We appreciate that global events can lead to dynamic market conditions that will require us to periodically review our supply chain, and we will continue to do so to ensure Wolfspeed's needs are fulfilled."

About Wolfspeed:

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.

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