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Proprietary - Navitas Semiconductor - All Rights Reserved Navitas Semiconductor Investor Update NOVEMBER 2026 Q3 2026
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2 Confidential and/or Proprietary - Navitas Semiconductor Notice Cautionary Statement Regarding Forward-Looking Statements This investor presentation includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward- looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements may be identified by the use of words such as “we expect” or “are expected to be,” “estimate,” “plan,” “project,” “forecast,” “intend,” “anticipate,” “believe,” “seek,” or other similar expressions. Forward-looking statements are made based on estimates and forecasts of financial and performance metrics, projections of market opportunity and market share and current indications of customer interest, all of which are based on various assumptions, whether or not identified in this presentation. All such statements are based on current expectations of the management of Navitas and are not predictions of actual future performance. Forward- looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions and expectations. Many actual events and circumstances that affect performance are beyond the control of Navitas,and forward-looking statements are subject to a number of uncertainties. Our business is subject to certain risks that could materially and adversely affectour business, financial condition, results of operations, or the value of our securities. These and other risk factors are discussed in the Risk Factors section of our annualreport on Form 10-K for the most recent fiscal year, as updated in the Risk Factors section of our most recent quarterly report on Form 10-Q, and in other documents we file with the SEC. If any of these risks, as discussed in more detail in our SEC reports, materialize or if our assumptions underlying forward-looking statements prove to be incorrect, actual results could differ materially from the results implied by these forward-looking statements. Intellectual Property Notice This investor presentation is the intellectual property of Navitas Semiconductor and its affiliates. No unauthorized reproduction, distribution or use is permitted. All rights reserved. Any third-party names, logos, marks or products are the intellectual property of their respective owners and no endorsement or affiliation is implied. Information from third party sources is believed to be reliable and is provided as of the original publication date. Navitas undertakes no obligation to update this presentation.
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3 Confidential and/or Proprietary - Navitas Semiconductor Non-GAAP Financial Highlights 2026 Q2 Q3 Q4(1) FY(1) Actual Guidance Revenue $10.5M $14.0M $16.0M +/- $0.5M $49.1M +/- $0.5M QoQ Growth 22% 33% 14% YoY Growth (27%) 38% 119% ~7% Gross Margin 39.5% 40.0% 40.5% +/- 1.0% ~39.9% QoQ Expansion 0.5% 0.5% 0.5% YoY Expansion 1.0% 1.3% 1.8% ~1.5% OpEx $15.5M $16.5M With Claros $25M +/- $1M $72M +/- $1M Cash $557M $531M • Revenue: Anticipate continued sequential double digit revenue growth in the fourth quarter - the highest dollar level in the past seven quarters • Q4 2026(1) – fourth quarter of continued double digits revenue growth and margin expansion • Q4 2026(1) sales expected to be 40%+ AI Infrastructure • FY26(1) YoY : High power markets expected to grow 125% YoY vs FY-25 • Exiting mobile in Q4 <5% of mix • Margin: Favorable product mix change and scale driving gross margin expansion • Cash & OpEx: Deploying stronger cash position to invest in grid-to-xPU technology (UHV / HV SiC, GaN, IVR) and build strategic inventory for sustained growth, while maintaining disciplined OpEx investment and clear path to profitability Accelerating Momentum (1) Bolded numbers, growth rates and expansion %s are assuming midpoint of Q4 2026E guide as of Nov 3, 2026 NOTE: See the GAAP to Non-GAAP reconciliation at the end of the slide deck for more information.
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4 Confidential and/or Proprietary - Navitas Semiconductor Financial Pivot: Back to YoY Growth Driven by High Power $10.1 $7.3 $8.6 $10.5 $14.0 $15.5 $16.5 0% 10% 20% 30% 40% 50% 60% 70% 80% $- $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 $8.0 $9.0 $10.0 $11.0 $12.0 $13.0 $14.0 $15.0 $16.0 $17.0 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026E Guide Actual Revenue Estimated Revenue Power (% Mobile & Low End Consumer) $ in millions 33% QoQ Revenue Growth (Q2-26 v. Q3-26) ~14% QoQ Revenue Growth (Q3-26 v. Q4-26E(1)) 125% YoY High-Power Revenue Growth (FY-25 v. FY-26E(1)) 40%+ AI Infrastructure(2) (Q4 2026E Revenue) Single Digit Est. YoY Revenue Growth (FY-25 v. FY-26E)Non-GAAP Gross Margin 38.7% 38.7% 39.0% 39.5% 40.0% 40.5% +/- 1.0% Trendline: % Mobile & Low-End Consumer 18% 22% 33% (1) Midpoint of Q4 2026E revenue guide as of Nov 3, 2026. (2) AI Infrastructures = AI Data Centers + Energy & Grid Infrastructures NOTE: See the GAAP to Non-GAAP reconciliation at the end of the slide deck for more information. % QoQ Revenue Growth Vast majority Minority (under 25%) Insignificant (Low single digits) 14%(1)
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5 Confidential and/or Proprietary - Navitas Semiconductor Navitas 2.0 – Right Strategy at the Right Time THE TRANSFORMATION 2025 Mobile / Low-end consumer Q4 2026 High-power Four high-power markets AI Data Centers Energy & Grid Performance Computing Industrial Electrification AI Infrastructure AI INFRASTRUCTURE MOMENTUM >40% expected share of revenue exiting 2026 ~3x AI infrastructure revenue growth expected in 2027 COMPLETE AI POWER PORTFOLIO Grid-to-xPU GRID HV / UHV SiC › RACK GaN + SiC › xPU IVR Breaking the AI Infrastructure Power Wall: From Grid to xPU POWER EFFICIENCY IS COMPUTE CAPACITY Every watt saved in conversion and delivery can become another watt available for AI compute.
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6 Confidential and/or Proprietary - Navitas Semiconductor Navitas 2.0 Pillars of Transformation Market Focus Navitas 2.0 transformation is essentially complete – High Power company focused on AI Infrastructure with grid to xPU power portfolio – Key markets : AI Data Centers, Grid and Energy Infrastructure, Performance Computing, and Industrial Electrification Complete reallocation of resources from mobile & low-end consumer to high-power, particularly AI Infra (85%+ of SAM), expected to be 40%+ of total sales by Q4 and the key driver of multi-year secular growth Acceleration of design conversions as OEM/ODM programs and applications gain traction (Grid : BESS, SST; AI D/C : AC/DC, DC/DC, BBU) Navitas has a complete platform with GaN, HV & UHV SiC and IVR technology Technology Leadership NVIDIA MGX Ecosystem partner, announcing cutting edge 800V-12V DC/DC conversion boards, complimenting existing portfolio of 800V-6V and 800V-50V power delivery boards Awarded the ALATTIS (Accelerated, Large-Area, 10 kV SiC IGBT) program to develop next-generation 10 kV silicon carbide (SiC) power semiconductor technology Navitas and Magnachip partnered to accelerate HV/UHV SiC adoption through GeneSiC technology licensing, expanding manufacturing scale and market reach Claros is an integrated IVR platform combining digital control, power transistors, high-density capacitors, embeddable inductors and packaging in one architecture Financial Discipline Clear path to profitability remains a priority – proven through consistent history of delivering QoQ & YoY revenue growth & gross margin improvements Leveraging OpEx while revenue accelerates – opportunistically investing to accelerate revenue growth, grow technological leadership, enable deeper customer support and fortify supply chain Flexible balance sheet for strategic investment in product portfolio, capacity expansion, supply reservation agreements, inorganic growth and more Operational Efficiency Integrated Fabless Manufacturing strategic operating model designed to selectively own, invest and partner – retaining ownership of technology and process IP while leveraging partners for manufacturing scale Initial deliveries of U.S.-produced Gen-5 GaNFast devices from GlobalFoundries to Navitas, strengthening domestic supply chain resilience for AI infrastructure Strategically building inventory to support expected ramp of the second and third data center inflection points and enable fab transition Continuing to leverage AI to drive operating efficiency
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7 Confidential and/or Proprietary - Navitas Semiconductor Breaking the AI Infrastructure Power Wall
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8 Confidential and/or Proprietary - Navitas Semiconductor 4 2 O U R I M P A C T 2014 FOUNDED ~$3B MARKET CAP(1) NASDAQ: NVTS 350M+ UNITS SHIPPED 450+ PATENTS ISSUED / PENDING US HEADQUARTERED, R&D & FOUNDRY AI INFRASTRUCTURE FOCUSED S T R A T E G I C P R I O R I T I E S 1 Market Focus AI Infrastructure (AI Data Center + Energy & Grid Infra) • High Perf Computing • Industrial. Pivoted away from Consumer Technology Leadership Pioneer in GaN, high-voltage & ultra-high voltage SiC, breakthrough IVR technology stack 3 Operational Efficiency Resilient U.S.-based manufacturing and supply chain enabled by a foundry plus model and long-term strategic partnerships Financial Discipline Strengthen financial model and commitment to profitability through revenue scale and margin expansion F R O M G R I D T O x P U B R E A K I N G T H E A I I N F R A S T R U C T U R E P O W E R W A L L Navitas 2.0 : Strategic Shift to High-Power Markets O U R T E C H N O L O G I E S Gallium Nitride Power FETs & ICs FAST • EFFICIENT • INTEGRATED Silicon Carbide FETs & Modules HV / UHV • ROBUST • RELIABLE IVR Package & Embedded HIGHLY INTEGRATED • HIGH DENSITY Navitas 2.0 is focused on breaking the AI Infrastructure Power Wall, combining GaN, HV/UHV SiC, & IVR technologies to deliver higher efficiency, greater power density & increased performance from Grid -to-xPU. 3 (1) Trailing 90-day average.
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9 Confidential and/or Proprietary - Navitas Semiconductor Doubling SAM with a Focus on AI Infrastructure Four focus markets 1 AI Datacenters GaN / SiC / IVR $5.3 B 2030 SAM 2 Grid & Energy Infrastructure HV / UHV SiC $1.6 B 3 High Performance Computing GaN $0.4 B 4 Industrial Electrification GaN / SiC $0.7 B Source: McKinsey & Company, Navitas AI INFRASTRUCTURE Doubling Navitas’ SAM to over $8 billion GaN & SiC $3.5 B SiC JFET $1.0 B IVR $3.5 B $0 $1 $2 $3 $4 $5 $6 $7 $8 2030 GaN • SiC • IVR $1.8 B $2.7 B $3.5 B $6.9 B
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10 Confidential and/or Proprietary - Navitas Semiconductor Navitas’ GaN, SiC & IVR Portfolio Is Positioned Across Every Major AI Power Inflection 800V DC is inevitable as AI rack power and density increase, driving higher GaN + SiC content across four inflection points. IVR adoption enables the last step to high current demanding xPU 1 2 3 4 SiC in AC/DC PSUs 800V Power Sidecar New AI Factory Power Architecture SST / Grid-to-Core Higher rack power drives silicon-to- SiC replacement in high-density PSUs, even at 50V output. SiC immediate growth replacing silicon in high power PSU Power shelves and BBUs move to sidecar racks; 800V output adds SiC + GaN/SiC in DC/DC and BBU. SiC + GaN content expands as moving to 800V Native 800V in compute trays via busbar. GaN enables high- density DC/DC conversion closer to GPU/xPU loads. xPU speed & power increases, requiring IVR solutions for highest performance, density, & efficiency. GaN content accelerates with 800V bus bar IVR adoption & growth, replacing traditional architectures Solid-state transformers convert MVAC directly to 800V DC across data- center power distribution. UHV SiC platform to modernize the grid Content per system increases at every inflection Increasing GaN/SiC/IVR content per system 1 2 3 4
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11 Confidential and/or Proprietary - Navitas Semiconductor GAAP to Non-GAAP Reconciliation A reconciliation of our forward-looking non-GAAP gross margin and non-GAAP operating expenses to the most directly comparable GA AP measures is not provided because such items cannot be reasonably calculated without unreasonable efforts due to the unpredictability of the amounts an d timing of events affecting the items we exclude, including stock-based compensation expense and restructuring charges. NAVITAS SEMICONDUCTOR CORPORATION RECONCILIATION OF GAAP RESULTS TO NON-GAAP FINANCIAL MEASURES - UNAUDITED (dollars in thousands) Three Months Ended June 30, 2025 September 30, 2025 December 31, 2025 March 31, 2026 June 30, 2026 September 30, 2026 RECONCILIATION OF GROSS PROFIT MARGIN GAAP Net revenues 14,490$ 10,112$ 7,296$ 8,598$ 10,529$ 13,991$ C ost of revenues (exclusive of amortization of intangibles) (12,162) (6,281) (4,514) (5,361) (6,451) (8,486) C ost of revenues (amortization of intangibles) (4,035) (4,038) (4,035) (4,036) (4,037) (2,501) GAAP Gross profit (1,707) (207) (1,253) (799) 41 3,004 GAAP Gross margin (11.8)% (2.0)% (17.2)% (9.3)% 0.4% 21.5% C ost of revenues (amortization of intangibles) 4,035 4,038 4,035 4,036 4,037 2,501 C hina SiC inventory reserve 3,174 - - - - - Stock-based compensation expense 71 81 42 117 82 89 Non-GAAP Gross profit 5,573$ 3,912$ 2,824$ 3,354$ 4,160$ 5,594$ Non-GAAP Gross margin 38.5% 38.7% 38.7% 39.0% 39.5% 40.0% Three Months Ended Three Months Ended June 30, 2026 September 30, 2026 RECONCILIATION OF OPERATING EXPENSES GAAP Operating Expenses 31,268$ 39,883$ Stock-based compensation expenses (8,303) (8,955) Other expense (2,377) (7,715) Amortization of intangible assets (4,734) (3,203) Restructuring and impairment expense (344) (3,200) Organization transformation costs and other - (293) Total Non-GAAP Operating Expenses 15,510$ 16,517$