Diodes Incorporated : 1Q’24 Financial Presentation

First Quarter 2024 Financial Results

Diodes Incorporated (DIOD)

Plano, TX, USA

May 9, 2024

Safe Harbor Statement

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Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such statements include statements containing forward-looking words such as "expect," "anticipate," "aim," "estimate," and variations thereof, including without limitation statements, whether direct or implied, regarding expectations of that for the second quarter of 2024, we expect revenue to be approximately $316 million plus or minus 3 percent; we expect GAAP gross margin to be

33.5 percent, plus or minus 1 percent; non-GAAP operating expenses, which are GAAP operating expenses adjusted for amortization of acquisition-related intangible assets, are expected to be approximately 28.5 percent of revenue, plus or minus 1 percent; we expect non- GAAP net interest income to be approximately $3.0 million; we expect our income tax rate to be 18.5 percent, plus or minus 3 percent; shares used to calculate diluted EPS for the second quarter are anticipated to be approximately 46.5 million. Potential risks and uncertainties include, but are not limited to, such factors as: the risk that such expectations may not be met; the risk that the expected benefits of acquisitions may not be realized or that integration of acquired businesses may not continue as rapidly as we anticipate; the risk that we may not be able to maintain our current growth strategy or continue to maintain our current performance, costs, and loadings in our manufacturing facilities; the risk that we may not be able to increase our automotive, industrial, or other revenue and market share; risks of domestic and foreign operations, including excessive operating costs, labor shortages, higher tax rates, and our joint venture prospects; the risks of cyclical downturns in the semiconductor industry and of changes in end-market demand or product mix that may affect gross margin or render inventory obsolete; the risk of unfavorable currency exchange rates; the risk that our future outlook or guidance may be incorrect; the risks of global economic weakness or instability in global financial markets; the risks of trade restrictions, tariffs, or embargoes; the risk of breaches of our information technology systems; and other information, including the "Risk Factors" detailed from time to time in Diodes' filings with the United States Securities and Exchange Commission.

This presentation also contains non-GAAP measures. See the Company's press release on May 9, 2024 titled, "Diodes Incorporated Reports First Quarter Fiscal 2024 Financial Results" for detailed information related to the Company's non-GAAP measures and a reconciliation of GAAP net income to non-GAAP net income.

About Diodes Incorporated

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Diodes delivers high-quality (analog, discrete, and mixed signal) semiconductor products to the world's leading companies in the automotive, industrial, computing, consumer electronics, and communications markets

65

Years in business

1.7Bn

Annual Revenue

2023

>28K

Number of

products (SKU) shipped in 2023

32

Consecutive years

of profitability

DIOD

Stock

Symbol

>42Bn

Number of units shipped in 2023

~8600

Number of employees

46%

of 2023 product revenue from automotive/industrial

>50K

Number of customers

Vision: Profitability Growth to Maximize Shareholder Value

Our Core Values:

Integrity,

Commitment,

Innovation

Longer Term $B Corporate Objectives

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• Goal 1: $1B Market Cap
• Goal 2: $1B Annual Revenue
• Goal 3: $1B Gross Profit
• Goal 4: $1B Profit Before Tax

2025+ Target: $1B Gross profit

Gross Margin: 40%

Revenue: $2.5B

$1B PBT

$1B Gross Profit 2025+

$1B Revenue - 2017

$1B Market Cap - 2010

Targeted Market Segment Goal

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~40% of revenue

(41% for Q1 2024)

Automotive

• Connected driving, comfort/style/safety, electrification/powertrain

Industrial

• Embedded systems, precision controls, medical, clean energy, machine to machine, motor control, and AIoT

~60% of revenue

(59% for Q1 2024)

Consumer

• IoT: wearables, home automation, home appliances, smart infrastructure, and charging solutions

Communications

• Smart phones, 5G networks, and enterprise networking

Computing

• Cloud computing: server, AI server, storage, data centers

Profitability Growth

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Track record of Continued Outperformance

Annual Revenue

($ in millions)

Gross Profit

($ in millions)

Gross Margins and EPS

Gross Margins (%)

Non-GAAP EPS ($)

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1QFY24 Highlights

First quarter represented low point in market demand

Automotive and Industrial totaled 41% of product revenue, eighth consecutive quarter exceeding 2025 target of 40%

$280 million in cash and cash equivalents*

Total debt ~$70 million

Expect return to seasonal growth in second quarter

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* Cash and cash equivalents, restricted cash and short-term investments

1QFY24 Performance

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Revenue

$302M

-6.4%Q-Q

Non-GAAP Net Income

$13M

-44%Q-Q

GAAP Gross Profit

$99.6M

-11.5%Q-Q

EBITDA

$48.3M

17% of Revenue

GAAP Gross Margin

33.0%

- 190 bps Q-Q

Cash Flow from Ops

$31.1M

10.3% of Revenue

Non-GAAP EPS

$0.28

-45%Q-Q

Strong Balance Sheet

$280M/$70M

Cash*/Debt

* Cash and cash equivalents, restricted cash and short-term investments

Revenue Profile for First Quarter 2024

By Channel			By Region
	Direct
	39%

61%

Americas

Distribution

Automotive

By End Market	Consumer	18%

20%23%

14%

25%

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Asia Pacific

75%

Europe

9% 16%

Industrial

Communications

Computing