Slides
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Investor Overview Q4 2025
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2 Safe Harbor Statement Statements made in this presentation contain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts or guarantees of future performance or events, are based on current expectations, estimates, beliefs, assumptions, goals, and objectives, and involve significant known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from the results expressed by these statements. You should be cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ include, but are not limited to, continued uncertainties in the global economy, including due to current and potential global conflicts, global tariffs and retaliatory measures and announcements regarding the same, inflation, consumer sentiment and other factors; adverse events arising from orders or regulations of governmental entities, including such orders or regulations that impact our customers or suppliers, and adoption of new or amended accounting standards; adverse changes in laws and government regulations such as tariffs on imports of foreign goods, export regulations and export classifications, and tax laws (including the recent H.R.1 Act signed into law on July 4, 2025) or the interpretation of same, including in foreign countries where MPS has offices or operations; the effect of export controls, trade and economic sanctions regulations and other regulatory or contractual limitations on our ability to sell or develop our products in certain foreign markets, particularly in China; our ability to obtain governmental licenses and approvals for international trading activities or technology transfers, including export licenses; acceptance of, or demand for, our products, in particular the new products launched recently, being different than expected; our ability to increase market share in our targeted markets; difficulty in predicting or budgeting for future customer demand and channel inventories, expenses and financial contingencies (including as a result of any continuing impact from current and potential global conflicts); our ability to efficiently and effectively develop new products and receive a return on our research and development expense investment; our ability to attract new customers and retain existing customers; our ability to meet customer demand for our products due to constraints on our third-party suppliers’ ability to manufacture sufficient quantities of our products or otherwise; our ability to expand manufacturing capacity to support future growth; adverse changes in production and testing efficiency of our products; any political, cultural, regulatory, economic, foreign exchange and operational changes in China, where a significant portion of our manufacturing capacity comes from; any market disruptions or interruptions in our schedule of new product development releases; our ability to manage our inventory levels; adequate supply of our products from our third-party manufacturing partners; adverse changes or developments in the semiconductor industry generally, which is cyclical in nature, and our ability to adjust our operations to address such changes or developments; the ongoing consolidation of companies in the semiconductor industry; competition generally and the increasingly competitive nature of our industry; our ability to realize the anticipated benefits of companies and products that we acquire, and our ability to effectively and efficiently integrate these acquired companies and products into our operations; the risks, uncertainties and costs of litigation in which we are involved; the outcome of any upcoming trials, hearings, motions and appeals; the adverse impact on our financial performance if its tax and litigation provisions are inadequate; our ability to effectively manage our growth and attract and retain qualified personnel; the effect of epidemics and pandemics on the global economy, global tariffs and retaliatory measures and announcements regarding the same, and on our business; the risks associated with the financial market, economy and geopolitical uncertainties, including current and potential globalconflicts; and other important risk factors identified under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission (“SEC”) filings, including, but not limited to, our Annual Report on Form 10-K filed with the SEC on March 3, 2025 and our Quarterly Reports on Form 10-Q. The forward- looking statements made during this conference call or in this presentation represent our projections and current expectations, as of the date hereof, not predictions of actual performance, and should not be unduly relied upon. This presentation speaks only as of the date of its first use; its availability after such date shall not constitute an express or implied confirmation of any statements herein as of any later date, and we assume no obligation to update the information presented in this presentation. MPS uses certain non-GAAP measures in this presentation including non-GAAP EPS, non-GAAP gross margin, and free cash flow. MPS believes non-GAAP financial information provides additional insight into MPS’s on-going performance. The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the Appendix.
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We are a global leader in powering the most important technological innovations of our lives – working with our customers to create what’s next. Creating What’s Next – Together
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4 Outstanding Organic Revenue & Operational Growth • Source: Consensus Analyst Estimates. 2025 Wall Street GAAP and Non -GAAP estimates should not be considered as a management forecast. Reconciliations of non-GAAP measures to the closest GAAP measure can be found at the end of this presentation. • For Stockholders of record as of March 31, 2026 +25.1% MPS Revenue CAGR (’18 -’25) SIA CAGR: 5.1% 2018 Today Employees >1,700 >4,500 Major Sites 4 8 Foundry Partners 5 13 Capacity ~$1B >$4B Products >2,000 >4,000 Patents Filed >1,100 >2,200 Quarterly Dividend $0.30 $2.00 ** $648M Stock Repurchase (’18 -’25) Current Authorization: $500M Non-GAAP EPS $582 $628 $844 $1,208 $1,794 $1,821 $2,207 $2,790 $- $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 2018 2019 2020 2021 2022 2023 2024 2025 Revenue ($M) Non GAAP EPS
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5 Our Global Presence MPS Global Offices R&D Centers Manufacturing Partners Company Founded 1997 IPO (NASDAQ: MPWR) 2004 Employees Worldwide >4,500 Number of Products >4,000 2025 Revenue $2.79B
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6 Corporate Profile Production Facilities Quality & Reliability Facilities EMC Lab Facilities Testing • Malaysia (OSAT & MPS) • T aiwan (OSAT & MPS) • China (OSA T & MPS) • Korea (OSA T) • Singapore (OSAT) Assembly • Malaysia • T aiwan • China • Korea IATF-Certified Wafer Fabs • Key Foundry/Hynix • SSMC • Global Foundry • TSMC • PSMC • Vanguard • SMIC • HHGrace • ASMC Korea Singapore Singapore T aiwan T aiwan Singapore & T aiwan China China China • Both San Jose and Chengdu • Burn-In Room: 3,000 Sq. Ft. • Two State-of-the-Art Failure Analysis Labs San Jose, CA Test Floor, Chengdu, China Detroit, MI Freiburg, Germany Hangzhou, China
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7 End Customer Diversity >30K End Customers End Customer by Geography 37% China 20% Rest of World 43% USA
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8 Diversity of End Markets Enterprise Data • AI Accelerators • GPU • ASIC • T ensor Processor • Cloud Computing • CPU Servers and Workstations Automotive • ADAS • BMS / Traction Inverters • Digital Cockpit / Lighting • Body Control • 48V • Audio Communications • 5G and Wireless • Base Stations • Networking • Optical Consumer • Home Appliances • Gaming • Augmented Reality • Audio Storage and Computing • AI at the Edge • Notebooks • SSD / HDD • DDR 5 / HBM 26.2% 25.1%21.2% 11.1% 9.1% 7.1% % of Full Year 2025 Revenue Storage and Computing Enterprise Data Automotive Communications Consumer Industrial / Other Industrial / Other • Smart Meters • Factory & Building Automation • Robotics / Physical AI • Medical / Health Care • Security • Clean energy
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9 Product Families Power Management • Switching Converters & Controllers • Multi-Phase Controllers & Intelli- Phase • Power Management IC (PMIC) • Data Center • Power Protection • Power Over Ethernet (PoE) • Display Power and Control • USB, Load & Analog Switches • LDO & Voltage Supervisory • MOSFET Drivers Isolation • Isolated Gate Drivers • Digital Isolators • Digital Isolators with Integrated Power • Isolated DC/DC Converters & Modules • Controllers Class-D Audio • Digital Controllers & Processors • Analog Input • PWM Input Power Drivers Battery Management • Chargers • Battery Monitors & Protectors • Fuel Gauges • Active Balancers • Switched Capacitor Converters Motor Drivers & Motor Controllers • Stepper Motor Drivers • BLDC Pre Drivers and Integrated Solutions • Brushed DC / Solenoid Drivers • Fan Drivers • Servo, BLDC Motor Controllers Inductors • Shielded Optimized for MPS DC/DC • Molded Optimized for MPS DC/DC Power Modules • Power Modules (Integrated Inductor) • Isolated DC/DC Converters & Modules • 48V Modules • Intelli-Module Automotive (AECQ Grade) • Switching Converters and Controllers AECQ Grade • Load Switches and Supervisors • Motor Drivers • Power Modules • USB Charging Port • LED Driver • LDO • Half-Bridge • Backlight Drivers (WLED) Analog • Ultrasound Multiplexers • Precision Analog Data Converters • Delta-Sigma ADCs • SAR ADCs Sensors • Angular Position Sensors • Current Sensors • 3D (XYZ) Position Sensors AC-DC • HV Buck Regulators and Smart LDO • Flyback • PFC/LLC Controllers • Synchronous Rectifiers • LED Lighting & Illumination • Power Savers Complete Solution Boards • PoE • Motors • Battery Management • USB
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10 Class D Audio for Auto Technology Drives SAM Expansion Enterprise Data Storage and Computing Automotive Communications Industrial Consumer SAM $10B $16B $27B ?? 2015 2018 2025 Future Z-Axis Power Analog to Digital Converters Active Balancer for Grid Storage Mini-Phase and BMS Solutions for Notebooks Power Isolation / Rack Power 48V Auto Solutions SiC Inverters for Green Energy Power Solutions for Optical Modules Auto BMS Solutions DDR 5 Memory Solutions High Voltage GaN IC/Module Solutions for Consumer Class D Audio DSPs and Smart Power for Consumer Multiphase Architecture for 5G infrastructure Source: Internal estimates
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11 Above-Market Growth and Attractive Margin Profile 5 year CAGR includes the last 5 calendar year publicly reported results as of January 30 th 2026. Measures based on FACTSET. Measures are “as reported” Non -GAAP except where only GAAP measures are reported. MPWR MXL NXPI ON LSCC CRUS VSH AOSL SWKS IFNNY DIOD POWI SLAB ADI TXN -5% 0% 5% 10% 15% 20% 25% 30% 20% 30% 40% 50% 60% 70% 80% 5 Y ear Revenue CAGR 5 Y ear Average Gross Margin * Bubble size is Trailing 12 months Revenue
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12 Powering Progress Through Innovation Redefining Performance Smaller, smarter, radically efficient power solutions Pushing Power Density Limits Embedding sustainability in every R&D cycle Enabling Breakthroughs Ultra-efficient audio amplifiers (90% lower idle power loss) Advancing Industries From AI to clean energy through cutting-edge tech 14% Of 2025 revenue reinvested in R&D >2,200 Patents filed to accelerate progress IMAGE IMAGE Data Centers 5x lower power distribution losses with ZPD architecture, enabling 3A/mm² power density Robotics World’s smallest coreless motor solution (2024) ADAS/wireless charging for autonomous robots (2025) Automotive 8x faster ADAS sensors 70% smaller digital cockpits 800V charging solutions R&D expenditure includes SBC
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Computing Power Evolution
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14 Powering Progress Through Innovation Leading the Next Wave of Computing Power 2018 Past Predictions: Rise of monolithic power solutions and 48V architecture – delivered the solutions that shaped the industry. Present Success: Our Intelli-Phase and ZPD technologies – powering the world’s most advanced AI and data centers. Future Focus: As power demands grow, we’re solving the next wave of challenges: higher density, efficiency, and AI/ML rack power beyond 500kW.
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15 Accelerating Power Demands: The New Normal AI GPU/ASIC Power Consumption
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16 Z-Axis Power Delivery (ZPD ) PCB 150uΩ PDN Processor Powe r stage Powe r stage 150uΩ PDN PCB Processor Powe r stage Powe r stage30uΩ PDN
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17 GPU Power: Driving Data Center Architectural Evolution Core VR AI SoC 12V Core +/- 400V PDB Power Modules & Discrete ICs +/-400V 48V IBC 48V 48V 5V-12V PDB: Power distribution board IBC: Intermediate bus converter
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GPU Power: Driving Data Center Architectural Evolution Power Density 0.75A/mm2 1.5A/mm2 Multiphase and C OUT Integration 3A/mm2 1.25A/mm2 Smaller Package Packaging Innovation 20202018 2025 2026 Intelli-Phase Monolithic One Die vs Five Dice Monolithic Intelli -Phase Discrete Die DrMOS Intelli-Phase Second-Stage Core Power 18
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19 Recap: >$4B SAM and Rapidly Growing Rack Data Center GPU AI Server CPU Server Board Today Tomorrow
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Driving the Future of Software-Defined Mobility
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21 Diversified Impact ADAS Digital Cockpit Lighting Body Electronics Radar, Camera, LiDar, Self-driving Compute Infotainment, Cluster, HUD, USB Charging Matrix Headlamp, Dynamic Lighting, Interior HVAC, Seat, Lift Gate, Auto Door Handle, Moonroof EmergingExpandingEstablished Battery Management 48V, HEV, EV
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22 Strategically Positioned for What's Next Auto-grade devices shipped Top automotive OEMs & tier 1s Automotive products in our portfolio Preferred Supplier 1,200+1 Billion+ Annually
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23 Powering Progress Through Innovation Driving the Future of Software-Defined Mobility The Car Compute Era ADAS Sensor Proliferation 48V Transition Digital Cockpit High Voltage (800V+)
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24 MPS Automotive: $1B Wins in Pipeline Digital Cockpit ADAS Lighting xEV ADAS Domain Controller Triple Forward Camera Collision Avoidance Domain Master Backup Camera Surround View Monitor Near - Range Camera Advanced Backup Camera Luxury OEM Infotainment Infotainment Digital Cluster Android Module Telematics Infotainment and Telematics Dynamic Taillight Rear Lamp Fog Lamp Front Lamp Daytime Running Light Daytime Running Light eTurbo Hybrid Battery Power DC Fast Charger Onboard Charger 48V BMS
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25 MPS Automotive From milliWatt to kilowatt, MPS Smart Power Enables Software-Defined Mobility: • Innovative Technology: Enabling automakers to achieve more with less • System Solutions: Aligned with high- potential trends for maximum impact • Diverse Pipeline: Broad design wins across regions, applications, and customers • Growth Drivers: Content gains and expanded TAM $10.6B Market SAM $593M 2025 Revenue$80M 2018 Revenue
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Clean Energy, Robotics and Building Automation
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27 Powering the Green Energy Transition Over $150M design wins 25+ products in development
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28 Driving Incremental Future SAM Expanding Share Energy Storage E-Mobility Datacenter & 5G Backup Notebook Power Tools & Appliances Automotive What’s Next
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29 MPS Total Robotics Solution 45 MPS Products MPS Content Per robot $150
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30 Building Automation BA100 Controller: All-in-One AI Building Mimicking Nature Window Shade Control Temperature/ Sensor Control Geothermal Occupancy Sensors / Facial Recognition Daylight Sensor Airflow Window/Door Actuators Sound System LED Lighting Control Smart Control Made Simple • Control for 3,500 Sq Ft: Manage lighting and automated shades for offices or homes • 10–25% Energy Savings: Smart optimization reduces energy costs • 30% Installation Savings: Low-voltage DC, no HVAC, or metal conduit—easy installation • Comfort & Well-being: Color-changing lights, natural airflow, sound control mimics natural environment and daylight • Scalable Design: Fit for small rooms or skyscrapers
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Financial Strength and Corporate Responsibility
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32 Consistent Revenue Growth & Shareholders’ Return Price as of January 30th 2026 $582 $628 $844 $1,208 $1,794 $1,821 $2,207 $2,790 0% 100% 200% 300% 400% 500% 600% 700% 800% 900% 1000% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 2018 2019 2020 2021 2022 2023 2024 2025 Revenue ($M) MPWR TSR SOX TSR MPWR Revenue ($M) Total Shareholder Return
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33 $904 $1,498 $2,096 $2,783 $738 $1,142 $863 $1,257 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 2022 2023 2024 2025 Cash, Short Term Investments + Return to Shareholders Cash & Short Term Investments Consistent Revenue Growth & Shareholders’ Return $1.5B Returned to Shareholders via Dividend and Buyback $648M Stock Repurchase thru ’Q4'25 Current Authorization: $500M >100% Increase in Quarterly Dividend From Q1’22 to Q4’25 >$1.5B Total Cash Returned to Shareholders Q1‘22-Q4’25 dividend & buyback 72% Of free cash flow was returned to shareholders Q1’22 to Q4’25 (in $M)
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34 Corporate Responsibility Greenhouse Gas Emissions We reduced our greenhouse gas emissions by 18% in 2024, and our goal is to achieve 40% lower emissions by 2030* -18% Renewable Electricity 40% of all electricity was renewable in 2024, and our goal is to reach 75% in 2026 40% Diverse Workforce 40% of our global workforce is made up of women 40% Board Composition Five out of seven board members are ethnically diverse 3,100 m2 Solar Panels on MPS Building Read full report at: www.monolithicpower.com/esg 5of7 542 MWh Electricity Generated in 2024 *Baseline 2022 Scope 1 & 2 Greenhouse Gas Emissions
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Thank You
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36 Reconciliation of GAAP to Non-GAAP Measures (Amounts in $/share) 1. 2018-2023 exclude stock -based compensation related employer payroll taxes from non -GAAP measures due to immateriality. * Immaterial and rounds to zero. Fiscal Year GAAP Diluted EPS Stock-Based Compensation and Related Expenses1 Deferred Compensation Plan Expense (Income) Intangible Asset Amortization Tax Effect of Non-GAAP Adjustments Recognition of Tax Benefit Granted to Foreign Subsidiary Non-GAAP Diluted EPS 2018 $2.36 1.36 0.01 0.02 (0.01) - $3.74 2019 $2.38 1.72 - * - * (0.22) - $3.88 2020 $3.50 1.82 0.02 - * (0.30) - $5.04 2021 $5.05 2.58 0.02 - * (0.20) - $7.45 2022 $9.05 3.33 (0.01) - * 0.04 - $12.41 2023 $8.76 3.07 0.02 - * (0.07) - $11.78 2024 $36.59 4.36 0.01 0.03 (0.55) (26.32) $14.12 2025 $12.75 5.00 0.01 0.03 (0.02) - $17.77
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37 Reconciliation of GAAP to Non-GAAP Measures Fiscal Year GAAP Gross Margin Stock-Based Compensation and Related Expenses1 Deferred Compensation Plan Expense Intangible Asset Amortization Non-GAAP Gross Margin 2021 56.8% 0.3 - * - * 57.1% 2022 58.4% 0.3 - * - * 58.7% 2023 56.1% 0.2 0.1 - * 56.4% 2024 55.3% 0.3 0.1 0.1 55.8% 2025 55.2% 0.3 - * - * 55.5% 5-year Average 56.7% (Amounts in percentages) 1. 2021-2023 exclude stock -based compensation related employer payroll taxes from non -GAAP measures due to immateriality. * Immaterial and rounds to zero.
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38 Reconciliation of GAAP to Non-GAAP Measures (Amounts in thousands except % of FCF) 1. Capital expenditures include all property and equipment purchases, including purchases on extended payment terms. Fiscal Year GAAP Net Cash Provided by Operating Activities Capital Expenditures1 Free Cash Flow 2022 $246,674 (60,898) $185,776 2023 $638,213 (60,404) $577,809 2024 $788,410 (150,205) $638,205 2025 $838,202 (174,613) $663,589 Totals $2,065,379 Fiscal Year Stock Repurchases Dividends Paid Return to Shareholders 2022 - 137,965 $137,965 2023 3,741 185,844 $189,585 2024 636,244 240,623 $876,867 2025 7,686 284,797 $292,483 Totals $1,496,900 Returned to Shareholders as % of FCF 72%