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2Q 2026 Earnings Conference Call August 5 , 2026 © VISHAY INTERTECHNOLOGY , INC . ALL RIGHTS RESERVED . VISHAY The DNA of tech .
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2 2 © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. NOTES ON FORWARD-LOOKING STATEMENTS Comments in this presentation other than statements of historical fact may constitute forward-looking statements. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements may vary materially from those anticipated, estimated or projected. Factors that could cause actual results to materially differ are described in our filings with the U.S. Securities and Exchange Commission, including our annual reports on Form 10-K and quarterly reports on Form 10-Q, specifically in the sections titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors .” The Company undertakes no obligation to update any forward-looking statements. NON-GAAP FINANCIAL MEASURES Management uses measures which are not recognized in accordance with U.S. generally accepted accounting principles (“GAAP”) to evaluate its business and may refer to such measures in this presentation. These measures are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. These non-GAAP financial measures are intended to supplement our GAAP measures of performance and liquidity. These non-GAAP measures may include: adjusted net earnings, adjusted net revenues, adjusted gross income, adjusted gross margin, adjusted operating income, adjusted operating margin, adjusted earnings per share, free cash, EBITDA, adjusted EBITDA, and Adjusted EBITDA margin. “Adjusted net earnings” is net earnings (loss) determined in accordance with GAAP, adjusted for various items that Management believes are not indicative of the intrinsic operating performance of the Company, such as tariff refunds received, tariff refunds passed through to customers, favorable resolution of contingencies, goodwill impairment charges, restructuring and severance costs, and other significant charges or credits that are important to understanding our intrinsic operations. Reconciling items to arrive at adjusted net earnings are more fully described in the Company’s annual report on Form 10-K and its quarterly reports on Forms 10-Q. “Adjusted net revenues” is net revenues determined in accordance with GAAP, adjusted to exclude items that Management believes are not indicative of the intrinsic operating performance and financial trends of the Company, such as tariff refunds passed through to customers. “Adjusted gross profit” is gross profit determined in accordance with GAAP (adjusted net revenues less costs of products sold and certain other period costs), adjusted to exclude items that Management believes are not indicative of the intrinsic operating performance of the Company, such as losses on purchase commitments, and unusual inventory write-downs. The measurement is used by Management to evaluate the performance of our business segments, as well the business as a whole. Reconciling items to arrive at adjusted gross margin are also considered in the calculation of adjusted operating margin and adjusted net earnings. Such reconciling items are more fully described in the Company’s annual report on Form 10-K and its quarterly reports on Forms 10- Q. “Adjusted gross margin” is “adjusted gross profit” expressed as a percentage of adjusted net revenues. “Adjusted operating income” is operating income determined in accordance with GAAP, adjusted for items that Management believes are not indicative of the intrinsic operating performance of the Company. The measurement is used by Management to evaluate our performance. Reconciling items to arrive at adjusted gross profit are also considered in the calculation of adjusted operating income; and reconciling items to arrive at adjusted operating margin are also considered in the calculation of adjusted net earnings. Such reconciling items are more fully described in the Company’s annual report on Form 10-K and its quarterly reports on Forms 10-Q. “Adjusted operating margin” is “adjusted operating income” expressed as a percentage of adjusted net revenues. “Adjusted earnings per share” is “adjusted net earnings” divided by the weighted average diluted shares outstanding for a period, adjusted for the effect of reconciling items, if applicable, on the diluted weighted average shares outstanding. For example, some potential common shares which are anti-dilutive to the computation of GAAP earnings per share may be dilutive after considering reconciling items. “Free cash” is cash generated from operations in excess of our capital expenditure needs and net of proceeds from the sale of assets. Management uses this measure to evaluate our ability to fund acquisitions, repay debt, and otherwise enhance stockholder value through stock buy-backs or dividends. “EBITDA” is earnings before interest income and expense, provision for income taxes, depreciation expense, and amortization expense. Management believes that EBITDA provides additional information with respect to a company’s performance and ability to meet its future capital expenditures and working capital requirements, particularly when evaluating acquisition targets. “Adjusted EBITDA” is EBITDA adjusted for relevant reconciling items used to calculate adjusted net earnings (described above). Adjusted EBITDA is substantially similar to, but not identical to, a measure used in the calculation of financial ratios required for covenant compliance under our revolving credit facility. “Adjusted EBITDA Margin” is “adjusted EBITDA” divided by adjusted net revenues. These measures do not have uniform definitions and accordingly, these measures, as calculated by Vishay, may not be comparable to similarly titled measures used by other companies. Such measures should not be viewed as alternatives to GAAP measures of performance or liquidity. However, Management believes such measures are meaningful to an evaluation of our business, as described above.
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2Q 2026 (dollars in millions) GAAP Adjusted Net Revenues $888.6 $918.6 Gross Profit $207.4 $207.4 Gross Margin 23.3% 22.6% Tariff Refunds 3 • 2Q 2026 adjusted net revenues exclude $30.0 million for tariff refunds passed through to customers, with no impact on gross profit. The tariff refunds are recognized as reductions of net revenues and costs of products sold in the 2Q 2026 GAAP results. • Adjusted gross margin is calculated using adjusted net revenues. • Tariffs refunds have not been allocated to a reportable segment, end market, sales channel, or region. All following 2Q 2026 measures presented exclude tariff refunds. Tariff refunds do not impact any other period presented.
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End Market 38% 35% 35% 32% 34% 35% 15% 15% 14% 10% 11% 11% 5% 5% 5% 2Q26 1Q26 2Q25 INDUSTRIAL AUTOMOTIVE OTHER* AERO/DEFENSE HEALTHCARE INDUSTRIAL + 30% YoY+ 16% QoQ ▸ Higher consumption primarily for smart grid, AI power and HVDC projects, and factory automation ▸ Serving a growing POS through our distribution channel ▸ Bookings higher to support power conversion and cooling projects for datacenters ▸ EMS customers accelerating investments in AI related applications to support data center growth and HVDC transmission AU TO M O T I V E + 10% YoY+ 4% QoQ OTHER + 28% YoY+ 11% QoQ AE R O / D E F E N S E + 15% YoY+ 4% QoQ H E ALT H C AR E + X% YoY ▸ Ongoing demand as electronic content continues to increase for driver assist and autonomous driving applications ▸ Further adoption of hybrid and EV platforms ▸ Bookings strong in the Americas; customers sharing long visibility ▸ Increased consumption by funded US defense contractors; accelerated replenishment to support multiple missile program ▸ Bookings increased sharply from distribution, driven by orders for resistors in preparation for escalating DoD funding ▸ AI related programs in Asia drove consumption ▸ Emerging demand for AI optical communications network switches ▸ In Europe, higher demand for 5G radio projects as customers ramp production + 7% QoQ + 15% YoY 4 4 * Power Supplies, Telecom, Consumers, Computing Revenue by ▸ Long-standing customers in the Americas ramping production ▸ EMS customers in Asia seeing improving demand and supply assurance uncertainties
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z Sales Channel 58% 55% 56% 35% 38% 37% 7% 7% 7% 2Q26 1Q26 2Q25 DISTRIBUTION OEM EMS DISTRIBUTION + 24% YoY+ 16% QoQ ▸ Gains in each region; broad based consumption momentum; share gains ▸ Distribution inventory at 18 weeks from 20 weeks for Q1; POS increased 5% qoq and 20% yoy ▸ Strong bookings for industrial power, AI-related applications, aerospace/defense ▸ Serving more customers, increasing SKU count OEM + 17% YoY+ 2% QoQ E M S + 11% YoY+ 3% QoQ - X% YoY ▸ Solid demand related to smart grid and AI server power, automotive and medical ▸ Industrial, aerospace / defense, and automotive program ramps in all regions, plus strengthening demand in AI 5 5 Revenue by
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Region 33% 35% 34% 41% 40% 42% 26% 25% 25% 2Q26 1Q26 2Q25 EUROPE ASIA AMERICAS EUROPE + 19% YoY+ 3% QoQ ▸ Strengthening demand in industrial and aerospace/defense ▸ Some inventory digestion after strong Q1 bookings ▸ Ended the quarter with book-to-bill of 1.3 AS I A + 19 YoY+ 13% QoQ AM E R I C AS + 26% YoY+ 14% QoQ ▸ Multi-market segment demand strength ▸ Strong support from EMS customers ▸ Ended the quarter with a book-to-bill of 1.3 ▸ Sales grew on increased consumption ▸ Orders for passives reaching the highest level in more than 20 years; semis starting to accelerate as many customers move to volume production ▸ Ended the quarter with a book-to-bill of 1.5 6 Revenue by
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918.6 839.2 762.3 600 650 700 750 800 850 900 950 2Q26 1Q26 2Q25 ADJUSTED REVENUES ($M) 2Q 2026 REVENUES GROSS MARGIN 1.32 2Q 2026 BOOK -TO-BILL 1.23 FOR SEMICONDUCTORS 1.40 FOR PASSIVE COMPONENTS 2Q 2026 Highlights 6.1 months BACKLOG AT QUARTER END EPS 7 7 $888.6 M GAAP $918.6 M Adjusted 23.3% GAAP 22.6% Adjusted $0.19 GAAP $0.19 Adjusted
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2Q 2026 Income Statement Highlights 8 Net Revenues Gross Margin $888.6 M 23.3% SG&A Expenses $153.9 M Operating Margin 6.0% EBITDA Margin 11.8% EPS 33.7% Effective Tax Rate $0.19 Adjusted Net Revenues $918.6 M Adjusted Gross Margin 22.6% Adjusted Operating Margin 5.8% Adjusted EBITDA Margin 11.4% Adjusted EPS $0.19
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MOSFETs REVENUES GROSS MARGIN BOOK TO BILL 2Q 2026 188.9 13.8% 1.08 1Q 2026 174.0 12.9% 1.57 2Q 2025 148.6 6.3% 1.00 DIODES REVENUES GROSS MARGIN BOOK TO BILL 2Q 2026 187.0 24.4% 1.36 1Q 2026 163.7 21.3% 1.35 2Q 2025 147.9 20.0% 0.93 OPTO REVENUES GROSS MARGIN BOOK TO BILL 2Q 2026 70.1 22.8% 1.33 1Q 2026 58.9 18.6% 1.48 2Q 2025 54.1 23.2% 1.05 RESISTORS REVENUES GROSS MARGIN BOOK TO BILL 2Q 2026 215.0 22.1% 1.43 1Q 2026 203.7 22.0% 1.26 2Q 2025 194.8 22.8% 0.91 INDUCTORS REVENUES GROSS MARGIN BOOK TO BILL 2Q 2026 104.2 31.1% 1.42 1Q 2026 92.2 31.8% 1.31 2Q 2025 95.7 28.0% 0.91 CAPACITORS REVENUES GROSS MARGIN BOOK TO BILL 2Q 2026 153.4 25.9% 1.35 1Q 2026 146.7 23.4% 1.13 2Q 2025 121.1 21.5% 1.40 Segment Results ($M) 9
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38 41 53 20 30 40 50 60 2Q26 1Q26 2Q25 DSO 102 106 109 40 50 60 70 80 90 100 110 2Q26 1Q26 2Q25 DIO 30 31 32 0 10 20 30 40 2Q26 1Q26 2Q25 DPO CASH CONVERSION CYCLE 110 116 130 50 60 70 80 90 100 110 120 130 2Q26 1Q26 2Q25 10 Cash Conversion Cycle
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Cash Flow Generation 105.4 63.7 149.4 27.6 (8.8)-20 0 20 40 60 80 100 120 140 160 2Q 1Q 4Q 3Q 2Q 346.0 125.5 0 100 200 300 400 TTM 2026 TTM 2025 CASH FLOW FROM OPERATIONS ($/M) 2026 2025 95.2 110.7 94.8 52.3 64.6 0 20 40 60 80 100 120 140 2Q 1Q 4Q 3Q 2Q 353.0 330.6 0 100 200 300 400 TTM 2026 TTM 2025 CAPEX ($/M) 2026 2025 10.3 (46.9) 54.9 (24.3) (73.2) (100) (50) 0 50 100 2Q 1Q 4Q 3Q 2Q (6.1) (202.8) (240) (190) (140) (90) (40) TTM 2026 TTM 2025 FREE CASH FLOW ($/M) 2026 2025 STOCKHOLDER RETURNS ($/M) Stock Repurchases 0 20 40 60 80 100 TTM 2026 TTM 2025 54.3 92.1 0 10 20 2Q 1Q 4Q 3Q 2Q 13.6 13.6 13.6 13.613.6 2026 2025 Stock Repurchases Dividends 11
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12 12 $945-975 M 24.0% $155 M $400-440 M NORMALIZED EFFECTIVE TAX RATE CAPEX 2026 GROSS MARGIN SG&A +/- 50 bps +/- $3 M Guidance 3Q 2026 REVENUE INTEREST EXPENSE ~$7 M ~35-40%
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Strategic Growth Levers Broaden our Portfolio SERVED MARKETS Internal Capacity Expansion External Capacity Expansion Optimizing Global Manufacturing Footprint Increased Technical Headcount Enhanced Channel Management Innovation Vishay Solutions M&A 13
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© VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 2Q 2026 Earnings Conference Call Appendix 14
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15 small number of competitors with similar products (qualifications such as automotive, military, UL) C E R T I F I E D P R O D U C T S completely interchangeable with competitors’ products C O M M O D I T Y P R O D U C T S designed for and sold to a specific customer C U S TO M PRODUCTS 48% 51% 45% 26% 16% 37% 26% 33% 18% 0% 20% 40% 60% 80% 100% Vishay Total Passives Semiconductors Hundreds CERTIFIED COMMODITY CUSTOM Product Type 2025
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EMS DISTRIBUTION © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. OEM Trusted by our Customers
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17 Hybrid Manufacturer of Discrete Semiconductors and Passive Components DISCRETE SEMICONDUCTORS PASSIVE COMPONENTS LOWEST VOLTAGE DIODE HIGHEST ENERGY CAPACITOR In power applications, we can supply ~80% of our customers’ bill of material © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.
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P&L IN MILLIONS (Except Per Share Amounts) 2Q 2026 1Q 2026 2Q 2025 Net Revenues $888.6 $839.2 $762.3 Cost of Products Sold 681.2 662.6 613.6 Gross Profit 207.4 176.6 148.7 Gross Margin 23.3% 21.0% 19.5% SG&A 153.9 154.5 126.6 Operating Income 53.5 22.1 22.1 Operating Margin 6.0% 2.6% 2.9% Other Income (Expense): Interest Expense (10.3) (10.0) (10.6) Other (0.8) 0.7 0.7 Total Other Income (Expense) – Net (11.1) (9.3) (9.8) Income Before Taxes 42.4 12.9 12.3 Income Tax Expense 14.3 5.7 10.3 Net Earnings $28.1 $7.2 $2.0 Diluted Earnings Per Share $0.19 $0.05 $0.01 Weighted Average Shares Outstanding - Diluted 147.9 137.5 136.2 Cash Dividends Per Share $0.10 $0.10 $0.10 18
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Reconciliation of Adjusted Net Earnings © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 19 IN MILLIONS (Except Per Share Amounts) 2Q 2026 1Q 2026 2Q 2025 GAAP Net Earnings Attributable to Vishay Stockholders $28.1 $7.2 $2.0 Reconciling items affecting net revenues: Tariff refunds passed through to customers 30.0 - - Other reconciling items affecting gross profit: Tariff refunds received from U.S. government (30.0) - - Other reconciling items affecting operating income: Favorable resolution of contingency - - (11.3) Adjusted net earnings (loss) $28.1 $7.2 ($9.3) Adjusted weighted average diluted shares outstanding 147.9 137.5 135.7 Adjusted earnings (loss) per diluted share $0.19 $0.05 ($0.07)
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Reconciliation of Free Cash © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. IN MILLIONS 2Q 2026 1Q 2026 2Q 2025 Net Cash Provided by Operating Activities $105.4 $63.7 ($8.8) Proceeds From Sale of Property and Equipment 0.2 0.1 0.2 Less: Capital Expenditures (95.2) (110.7) (64.6) Free Cash $10.3 ($47.0) ($73.2) 20
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Reconciliation of EBITDA and Adjusted EBITDA © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 21 IN MILLIONS 2Q 2026 1Q 2026 2Q 2025 Net Earnings $28.1 $7.2 $2.0 Interest Expense $10.3 $10.0 $10.6 Interest Income (4.1) (3.0) (4.0) Income Taxes 14.3 5.7 10.3 Depreciation and Amortization 56.1 58.2 56.0 EBITDA $104.8 $78.0 $74.8 Reconciling items Tariff refunds passed through to customers $30.0 $- $- Tariff refunds received from the U.S. government (30.0) - - Favorable resolution of contingency - - (11.3) Adjusted EBITDA $104.8 $78.0 $63.5 Adjusted EBITDA Margin ** 11.4% 9.3% 8.3% **EBITDA as a percentage of adjusted net revenues
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Computational Guidance on Sharecount for EPS (Q3) © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. 22 See Current Report on Form 8-K filed on August 5, 2026 for further details on variables that impact the diluted earnings per share computation. Average Stock Price for Quarter Projected Diluted Shares (in millions) <$30.16 157 $35.00 161 $40.00 164 $45.00 166 $50.00 168 $55.00 169 $60.00 170 $65.00 171
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© VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED. The DNA of tech ® Vishay © VISHAY INTERTECHNOLOGY, INC. ALL RIGHTS RESERVED.