Material Agreement Form 8 K

On October 15, 2024, Wolfspeed, Inc. (the "Company"), entered into Amendment No. 1 to Unsecured Customer Refundable Deposit Agreement (the "Amendment"), which amends that certain Unsecured Customer Refundable Deposit Agreement (the "Existing CRD Agreement"), dated as of July 5, 2023, by and between the Company and Renesas Electronics America Inc., a California corporation ("Renesas America").

The Amendment amends the Existing CRD Agreement to, among other things: (i) permit the Company to pay the accrued interest on the outstanding loans under the Existing CRD Agreement payable on the last business day of each of December 2024 and June 2025 (together, the "PIK Amounts"), by adding the PIK Amounts to the then outstanding principal amount of the loans under the Existing CRD Agreement rather than in cash, (ii) provide that interest on the PIK Amounts accrues at a rate of 15.0% per annum, (iii) permit the Company to grant liens on certain of its assets located in Siler City, North Carolina in connection with disbursements pursuant to governmental grants or awards under the CHIPS and Science Act, and (iv) permit the Company to elect to pay a portion of the interest under its senior secured notes in-kindsubject to the limitations set forth in the Amendment.

The above description of the Amendment is a summary and is not complete. A copy of the Amendment is filed as Exhibit 4.1 to this Current Report on Form 8-K,and the above summary is qualified by reference to the terms of the Amendment set forth in such exhibit.