Lumentum : LITE 2024 Lumentum Investor Technology Event 2024 43_vx5LXuq

Cautionary Note Regarding Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These include statements regarding our belief and expectations with respect to our markets, customers and industry, including market growth and addressable market, any anticipation or guidance as to demand for our products and technology from our customers and their end customers, including drivers of that demand, statements regarding our acquisitions, achievement of synergies the expected impact of acquisitions on our business and financial results, statements regarding our product roadmaps, investments, new technologies and availability of new products and technologies and our financial models and outlook with respect to revenue growth, future net revenue, gross margin, operating expenses and operating margin, and related assumptions. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Among the factors that could cause actual results to differ from those contemplated are: (a) uncertainty and volatility in the global markets, including uncertainty and volatility in the macroeconomic environment, volatility and uncertainty in banking and financial services sectors, inflationary pressures, changes in the political or economic environment, such as geopolitical conflicts, war, trade and export restrictions and the imposition of tariffs or other duties, and the effect of such market disruptions on demand for our products, technology spending by our customers and our ability to obtain components for our products; (b) quarter-over-quarter product mix fluctuations, which can materially impact profitability measures due to the broad gross margin ranges across our portfolio; (c) decline of average selling prices across our businesses or increase in costs, either of which will also decrease our margins; (d) effects of seasonality; (e) the ability of our suppliers and contract manufacturers to meet production, quality, and delivery requirements for our forecasted demand and the effect of ongoing supply chain constraints, particularly in semiconductors; (f) changes in customer demand, including due to changes in inventory practices and end-customer demand; (g) our ability to attract and retain new customers; (h) the risk that Lumentum's financing or operating strategies will not be successful; (i) failure to successfully integrate acquired companies and businesses and (j) our failure to accurately identify liabilities and risks in the businesses we acquire. For more information on these and other risks, please refer to the "Risk Factors" section included in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2023, filed with the Securities and Exchange. In addition, the results contained in this presentation are valid only as of today's date except where otherwise noted. The forward-looking statements contained in this presentation are made as of the date hereof and the Company assumes no obligation to update such statements, except as required by applicable law.

Unless otherwise stated, all financial results and projections are on a non-GAAP basis. Our GAAP results, details about our non-GAAP financial measures, and a reconciliation between historical GAAP and non-GAAP results can be found in our earnings releases on our web site,www.lumentum.com, under the investors section. We have not provided reconciliations from GAAP to non-GAAP measures for our outlook. A large portion of non-GAAP adjustments, such as restructuring charges, stock-based compensation, acquisition related costs, integration related costs, non-GAAP income tax reconciling adjustments, foreign exchange gains and losses, net, and other costs and contingencies unrelated to current and future cash flows, are by their nature highly volatile and we have low visibility as to the range that may be incurred in the future.

This presentation contains industry market data, industry forecasts and other statistical information. Such information has been obtained from publicly available information, industry publications and other third-party sources, and the Company makes no representations as to the accuracy of such information. The Company has not independently verified any such information. Certain information in this presentation is based upon management forecasts and reflects prevailing conditions and management's views as of this date, all of which are subject to change.

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Today's Speakers

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Photonics Underpin Two of the World's

Most Important Megatrends

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EXPANDED OPPORTUNITY FOR LUMENTUM:

Cloud Data Center Photonics Market

$16B Adv. Switching & Transport for Cloud

400G/800G/1.6T ZR/ZR+ Modules for DCI

200G/400G/ 800G/1.6T Intra-Data Center Transceivers

2023

2028

Source: LightCounting Market Forecast, Oct 31, 2023, Lumentum estimates

Note: DCI = Data Center Interconnect; Adv Transport = Mux/Demux, Switching, and Amplification

COMPREHENSIVE CLOUD & AI PHOTONICS PORTFOLIO

•  Industry-leading photonic chips enabling full range of optical transceivers

•  Datacom and DCI transceivers at industry's highest speeds

•  Full suite of optical switching, mux/demux, and amplification solutions

•  Next-gen, custom photonics for CPU/TPU/GPU/switch chip connectivity

IN-HOUSE COMPONENT & TRANSCEIVER CAPABILITIES

•  Leading wafer fabs for lasers and Photonic Integrated Circuit (PIC) chips

•  Highly automated wafers-to-transceivers approach

•  Ability to engineer and choose the optimal component technology

•  Investing in infrastructure and automation to capture significant share in the fastest growing markets for photonics

GLOBAL SUPPLIER

•  U.S.-headquartered manufacturer with global footprint

•  Strong photonics supplier in current geopolitical environment

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Taking the Fast Lane at 1.6T

AI TRANSCEIVER SPEEDS IN CY 2023,

TOTAL MARKET [$]

AI TRANSCEIVER SPEEDS IN 2028F,

TOTAL MARKET [$]UNIQUELY POSITIONED FOR GROWTH

•  ~75% of Q2 FY24 ethernet transceiver revenue from 800G

•  Thailand manufacturing ready for additional tool move-in

•  Best-in-class photonics manufacturing operation in place

•  Leading-edge optical components for all transceiver types

Market playing to our strengths as AI data centers race to 1.6T

Source: LightCounting Optics for AI Clusters Forecast, Jan 30, 2024

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WHAT CUSTOMERS ARE SAYING

OUR APPROACH

1 2 3

Customers highlight Cloud Light's performance and time-to-market as critical strengths

Customers are concerned about geopolitical risks in their existing supply chain

Customers require proactive roadmap support

Investing in 1.6T, component vertical integration, and manufacturing capacity to expand our customer base

Vertically integrated, US-headquartered company with a global manufacturing footprint offers customers security of supply

Breadth of expertise and capabilities unlock opportunities for unique photonic solutions, solving customer challenges today and into the future

© 2024 Lumentum Operations LLC 8

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Coherent Transmission Photonics 800ZR+ module demo in amplified link

Cutting-Edge Photonic Innovations at OFC 2024

Lumentum Booth #2613

•  Extended range DCI

•  800G metro

•  400/600G long-haul

Cloud Data Center Photonics

800G transceivers, linear receive optics in 51T data center switch demo

200G lane speed Tx/Rx components for 800G/1.6T transceivers

Edge Network Products

Tunable SFP28 ER Access Module 25G transceiver supporting cable MSO and wireless operator upgrades

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