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Power Integrations, Inc. NASDAQ: POWI ©2026 Power Integrations, Inc. | power.com Updated January 2026
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Forward-Looking Statements/Non-GAAP Metrics 2©2026 Power Integrations, Inc. | power.com These slides may accompany an oral presentation by Power Integrations, Inc., which contains forward-looking statements. Each statement relating to events that will or may occur in the future is a forward-looking statement. The Company’s actual results may differ materially from those suggested in the presentation. Information concerning factors that could cause such a difference is contained in the Company’s most recent report on Form 10-K. This presentation may also contain certain non-GAAP financial information. Reconciliations of non-GAAP financial metrics to GAAP results are available in the historical financial tables on the investor page of the Power Integrations website, http://investors.power.com.
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ICs for Energy Production, Transmission & Consumption 3©2026 Power Integrations, Inc. | power.com Technology leader in ICs for energy- efficient AC-DC power supplies High-efficiency driver ICs energizing the LED lighting revolution Highly-efficient, reliable and integrated motor drivers Gate drivers for renewable energy, DC transmission, electric locomotives and more Automotive solutions for efficient, compact high-voltage power conversion and control
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DC-AC (Inverters) HV DC AC Grid Inverter What Are Power Converters? ▪ Converts DC to AC ▪ Requires safety-isolated gate drivers ▪ Efficiency critical ▪ Converts high-voltage AC to low-voltage DC ▪ Provides safety isolation ▪ Efficiency critical High-voltage AC Input AC-DC (Power supplies) Low-voltage DC Output ©2025 Power Integrations, Inc. | power.com 4
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Key Takeaways High-voltage Semiconductors are Crucial to a Lower-carbon Future High voltage (HV) is a Unique Specialty, and PI is the Only HV Pure Play GaN is the Future of HV Power Conversion, and PI is the Leader in GaN Our Addressable Market is Expanding and Diversifying ©2025 Power Integrations, Inc. | power.com 5
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System-level Solutions for High Voltage Power Conversion Proprietary Technologies with Extensive IP Protection High-voltage Process Technologies Systems & Applications Know-how IC Power Package Innovations Design and Systems Software ©2025 Power Integrations, Inc. | power.com 6
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Track Record of Innovation 1994 2024 TOPSwitch EcoSmart TinySwitch LinkSwitch Hiper iDriver FluxLink InnoSwitch InnoMux PowiGaN ©2025 Power Integrations, Inc. | power.com 7 1250 V & 1700 V PowiGaN
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InnoSwitch: A Revolution in HV Power Conversion LV OutputHV Input Safety-isolated FluxLink Allows Integration of HV and LV sides ▪ Drastically reducing component count/sourcing and complexity Choice of Power Switch: Si, GaN, SiC Proprietary Control Dramatically Increases Energy Efficiency InnoSwitch-EP ©2026 Power Integrations, Inc. | power.com 8
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Power Supply Using a PI Competitor GaN + Driver External Current Sense Interface Circuitry External Primary Controller External Isolated Feedback External 2ndry USB-PD Controller External SR Gate Drive Controller External SR Gate Supply External Primary Discretes External EMI Mitigation External EMI Mitigation External Feedback Loop Compensation ©2025Power Integrations, Inc. | power.com 9
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The Power of Integration - InnoSwitch Competition InnoSwitch GaN, Driver + Sense Integrated Integrated GaN Sense Interface External Integrated EMI Mitigation External Integrated Primary Discretes External Integrated Isolated Feedback External Integrated SR Gate Driver External Integrated SR Gate Supply External Feedback Loop Comp External USB-PD Controller External Component Count 101 Integrated Integrated Integrated 45 Primary Controller External Integrated InnoSwitch-PD ©2025Power Integrations, Inc. | power.com 10
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Bringing Efficiency & Integration Benefits to Gate Drivers SCALE-EVCompetitor Leveraging Our HV Expertise and IP Portfolio in Gate Drivers ▪ Improves efficiency and reduces component count by 50% Same package as InnoSwitch including FluxLink for high-speed isolated communicationIGBT or SiC power module ©2025 Power Integrations, Inc. | power.com 11
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Products Serve Broad Range of End Applications Typical Analog Model 1,000s of Applications 100s of ASSPs Power Integrations Model 1,000s of Applications Focused R&D Handful of Products Addressing Power Converters Moderate R&D intensity, high differentiation, premium margins ©2025 Power Integrations, Inc. | power.com 12
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52% of 2024 Sales from product families introduced 2001 and prior - 100 200 300 400 500 600 700 800 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Revenue by Product Family 1997-2024 InnoSwitch High Power/ Other Products LinkSwitch TinySwitch TOPSwitch $ Millions Annuity Revenue Streams from Long-lived Products ©2026 Power Integrations, Inc. | power.com 13
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Unique Manufacturing Model: “Fabless IDM” Best-in-class Assurance of Supply, Quality, and Cost PI Develops, Owns, and Controls the Process Technologies, Device and IC Designs ▪ Own specific equipment as needed ▪ Replicate each process technology to multiple (2-5) partner fabs Geographically Dispersed, Both Inter- and Intra-continental Long-term Strategic Supply Alliances with IDMs ©2025 Power Integrations, Inc. | power.com 14
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Key Takeaways High-voltage Semiconductors are Crucial to a Lower-carbon Future High voltage (HV) is a Unique Specialty, and PI is the Only HV Pure Play GaN is the Future of HV Power Conversion, and PI is the Leader in GaN Our Addressable Market is Expanding and Diversifying ©2025 Power Integrations, Inc. | power.com 15
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Addressable Market >$4B 16©2026 Power Integrations, Inc. | power.com Major & small appliances Air conditioners TVs / Set-top boxes Game consoles Industrial motor drives Solar & wind inverters / battery storage Electric locomotives High-voltage DC transmission Industrial controls Home & building automation / IoT Utility meters Battery-powered tools Scooters / e-bikes LED lighting Server auxiliary power Desktop PCs Monitors Printers
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Big-Picture, Secular Trends Driving Need for Advanced High-voltage Semiconductors Smarter, More Efficient Appliances ▪ Connectivity, LED Lighting ▪ Transition to BLDC Motors Advanced Chargers ▪ Higher power, higher efficiency ▪ Multiple ports ▪ Integrating USB PD interface Electric Vehicles ▪ Brings high voltage to auto market ▪ Power supplies, charging, main inverter, etc. Home and Building Automation / IoT ▪ USB wall ports, building access, smoke alarms, etc. ▪ Needs low standby power Electrification/Electronification ▪ E-bikes, lawn equipment, tools ▪ LED lighting ▪ Electronic meters De-carbonization ▪ Energy efficiency ▪ Renewable energy ▪ HVDC ©2025 Power Integrations, Inc. | power.com 17
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Expanding High-Voltage Content in EVs ©2026 Power Integrations, Inc. | power.com Traction inverter gate-driver power supply Emergency Power Supply µDC-DC converters Battery Management Systems (BMS) On Board Charger (OBC) 12 V system standby power supplies Power steering A/C Compressor Cabin Heater Fuse | Pyro | Contactor Electronic Control Unit (ECU) GaN InnoSwitch IC in EV emergency power supply
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Pumps, Fans, Compressors ▪ Residential & commercial appliances ▪ Industrial applications BridgeSwitch Motor-Driver ICs for BLDC Motors Washer/Dryer Drum Motors Wide Range of High-Voltage Single or Multi-Phase PM or ACIM Motors Window Shades/Shutters & Garage Openers ©2026 Power Integrations, Inc. | power.com 19
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Key Takeaways High-voltage Semiconductors are Crucial to a Lower-carbon Future High voltage (HV) is a Unique Specialty, and PI is the Only HV Pure Play GaN is the Future of HV Power Conversion, and PI is the Leader in GaN Our Addressable Market is Expanding and Diversifying ©2025 Power Integrations, Inc. | power.com 20
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GaN is the Future of HV Power Conversion, and PI is the Leader in GaN Proprietary GaN technology We control the roadmap Purpose-built for our products We can tailor the GaN for each product Highly cost-effective Approaching parity with silicon Higher-voltage capability 900 V and 1250 V products introduced in 2023, 1700 V in 2024 ©2026 Power Integrations, Inc. | power.com 21
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PowiGaN Leading the Way on Higher Voltages 22©2026 Power Integrations, Inc. | power.com 2018 2020 2022 2024 750 V 900 V 1250 V PowiGaN High-Voltage Roadmap Option to Replace SiC 1700 V 2023
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Auxiliary power ▪ Shipping now, growing with GaN adoption Main power ▪ AI driving need for greater power density; system-level GaN products in development GaN Is Key to Solving Data Center Power Challenges ©2026 Power Integrations, Inc. | power.com 23 NVIDIA Ecosystem Partner ▪ 1250 V and 1700 V GaN for next-generation 800 VDC power architecture
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Compact 60W Charger with InnoSwitch4-CZ & ClampZero 24©2026 Power Integrations, Inc. | power.com InnoSwitch4-CZ with GaN switch L N 12.6 mm ATQ2311 ClampZero 44 mm 44 mm To Scale MinE-CAP Uses GaN-based MinE-CAP IC to reduce size of bulk capacitors Volume = 24.4 cm3 Power Density = 2.5 W/cm3 No heatsinks
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Key Takeaways High-voltage Semiconductors are Crucial to a Lower-carbon Future High voltage (HV) is a Unique Specialty, and PI is the Only HV Pure Play GaN is the Future of HV Power Conversion, and PI is the Leader in GaN Our Addressable Market is Expanding and Diversifying ©2025 Power Integrations, Inc. | power.com 25
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2000 2018 2050 2100 Gt CO2 40 30 20 10 High-Voltage Semiconductors are Critical to a Lower-Carbon Future Stated policies scenario Sustainable development scenario 37% Efficiency 32% Renewables 3% Nuclear 28% Other 69% of targeted carbon savings Efficiency and renewables hold the key to achieving carbon-reduction targets Source: IEA ©2026 Power Integrations, Inc. | power.com 26
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High-Voltage Semiconductors are Critical to a Lower-Carbon Future Renewable Energy Generation Efficient Energy Transmission Efficient Energy Consumption ©2026 Power Integrations, Inc. | power.com 27
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Recognized Leader in Energy Efficiency Pioneer in Eliminating Standby Waste First to Market with GaN Power ICs Inclusion in Numerous Sustainability Indices Awards and Certifications 2024 Revenues 95% EU Taxonomy-Eligible* ICs that Reduce Standby Waste Gate Drivers Used in Clean Technologies Other products Hundreds of Efficiency-related Patents *Estimate based on information currently known to Power Integrations about taxonomy eligibility. ©2026 Power Integrations, Inc. | power.com 28
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EcoSmart Technology Slashes Standby Waste 22 Billion EcoSmart chips sold since 1998 Estimated 11.5 TWh of standby energy saved in 2024 • Equivalent to annual electricity usage of about 1.6M homes* • Saved >8M tons of CO2 emissions* * Source: U.S. EPA Greenhouse Gas Equivalencies Calculator ©2026 Power Integrations, Inc. | power.com 29 0 4 8 12 16 20 24 0 20 40 60 80 100 120 140 160 180 200 220 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Cumulative Sales of EcoSmart Devices (B) Cumulative kWh saved (Billions) Estimated Energy Savings from EcoSmart Devices kWh saved (B) Units Sold (B)
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Energy Vampire vs. LinkZero 30©2026 Power Integrations, Inc. | power.com
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System Solution with PowiGaN Delivers Superior Efficiency PowiGaN with proprietary control delivers highest efficiency in standby & full load 82% 84% 86% 88% 90% 92% 94% 96% 20% 40% 60% 80% 100% Efficiency Comparison Over Load at 5V Output Standby Dramatically higher efficiency InnoSwitch with PowiGaN Discrete GaN Design Efficiency Load ©2025 Power Integrations, Inc. | power.com 31
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Enabler of Clean-Energy Technologies Commercial/Industrial & Smart LED Lighting Renewable Energy, Electric Locomotives, High-voltage DC Transmission Brushless DC Motors for Appliances & Industrial Reliable, Efficient Power Supplies & Gate Drivers for EVs ©2025 Power Integrations, Inc. | power.com 32
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Reducing Materials, Energy Use Through Integration HiperLCS-2 Are Replaced with Two Hiper ICs HiperPFS-5 Up to 100 Components… ©2025 Power Integrations, Inc. | power.com 33
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Technology Leadership Makes PI a Policy Influencer Regular Consultation with Energy Policy Makers and Leading Researchers Active Participation on Technical Committees for International Standards • IEC TC47/SC47E for semiconductor devices • JEDEC JC-70 wide bandgap semiconductors committee • USB Implementers Forum Power Sources Manufacturers Association (PSMA) • Chairing energy management committee last 3+ years ©2025Power Integrations, Inc. | power.com 34
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Manufacturing Partners Fab Certifications Carbon Reduction Plans Foundry Partner 1 ISO 14001:2015 EMS Sony Green • Reduce scope 1 & 2 GHG emissions by 34% by FY2025 compared to FY2017 • Reduce scope 3 emissions from category 1 and category 11 as a percentage of value added by 44% by FY2025 compared to FY2017 Foundry Partner 2 ISO 14001:2015 EMS ISO 45001:2018 Occupational Health & Safety Sony Green • Targeting CO2 30% reduction by 2030 in two facilities Foundry Partner 3 ISO 14001:2015 EMS Sony Green • By 2030, reduce GHG emissions in line with 1.5° Foundry Partner 4 ISO 14001:2015 EMS Sony Green • Reduce scope 1 & 2 carbon emissions by 40% by 2030 compared to 2021 (normalized to stepped mask layers) All assembly & test partners certified Sony Green, ISO14001 (EMS) and ISO 45001:2018 (Occupational Health & Safety). ©2025 Power Integrations, Inc. | power.com 35
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Lowering Our Internal Carbon Footprint Extensive Use of Solar Energy in Our Operations 600 kW System at San José HQ Major Expansion in 2025 25 kW at Switzerland Facility 43 kW at Germany Facility ©2025 Power Integrations, Inc. | power.com 36
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Our Contribution to a Lower-Carbon Future Lowering Carbon Footprint of Our Operations Recognized Efficiency Expert & Policy Influencer Pioneer in Cutting Standby Power Waste Driving Higher Efficiency with GaN Saving Energy & Materials Through Integration Enabling Clean Technologies ©2025 Power Integrations, Inc. | power.com 37
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0 150 300 450 600 750 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 POWI Revenue ($M) Analog Semis (Common Basis) Focused Strategy and System-Level Innovation Drive Above-Market Growth Note: Analog industry data is per World Semiconductor Trade Statistics; PI revenues prior to 2017 do not reflect ASC 606 recast. 7% CAGR vs. 5% for Analog ©2025 Power Integrations, Inc. | power.com 38
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Favorable Shift in Revenue Mix 39% Consumer 12% Comms 14% Computer 35% Industrial / Auto 36% Consumer 25% Comms 5% Computer 34% Industrial 2024 2019 2002 23% Computer 43% Comms 24% Consumer 9% Industrial Industrial/Auto/Consumer >70% of mix • Appliances accounted for ~90% of consumer category in 2024 • Smaller contribution from volatile, lower-margin cellphone chargers (in comms) Revenue Mix by End-Market Category ©2025 Power Integrations, Inc. | power.com 39
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Gross Margin Stability Over Time and Cycles 30% 35% 40% 45% 50% 55% 60% 65% 70% 0 20 40 60 80 100 120 140 160 180 200 Q1 '09 Q2'14 Q3'19 Q4'24 Revenue Non-GAAP GM % Cellphone <10% of sales 2010-11: Yen/$ <80, spike in gold prices Comms 38% of sales $/Yen to ~100 Favorable pricing environment, weak yen $ Millions ©2025 Power Integrations, Inc. | power.com 40 Weak yen vs. USD
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Strong Cash Flow, Healthy Returns to Stockholders 15% FCF*/Revenue in 2024 185% of FCF returned to stockholders 2022-24 ~$150M Cash return to stockholders in 2025 (incl. Q4 dividend) 0 50 100 150 200 250 300 350 400 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Buybacks Dividend Payout FCF ©2026 Power Integrations, Inc. | power.com 41 *2024 Free cash flow = $81.2M cash flow from operations less $17.3M capex
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Strong Balance Sheet 42©2026 Power Integrations, Inc. | power.com $242M cash and investments No debt Dividend payer since 2008 Quarterly dividend of $0.21 Rising to $0.215 in Q1’26 Share count down 14% since 2008 $100M used for buybacks in 2025 at September 30, 2025 $- $0.20 $0.40 $0.60 $0.80 $1.00 Q1'08 Q4'16 Q3'25 Dividends/Share (Trailing 12 Months)* *Adjusted for August 2020 2:1 stock split 40 45 50 55 60 65 70 Q1'08 Q4'16 Q3'25 Diluted Shares Outstanding (M)* 0 100 200 300 400 500 600 Q1'08 Q4'16 Q3'25 Cash and Investments ($M)
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Summary Focused Strategy – The Only HV Pure Play Defensible, System-level Integration Capitalizing on Big-Picture, Secular Trends Leader in High-Voltage GaN Track Record of Growth & Profitability Making a Difference to the Environment ©2025 Power Integrations, Inc. | power.com 43