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• Revenue was $574 million for Q2 2026, up 30% year-over-year and above the high end of guidance.
• Record Semiconductor revenue grew 33% year-over-year; GAAP gross margin 41.1%, non-GAAP 41.9%.
• Cash flow from continuing operations was a record $86 million in the quarter.
• Q3 2026 guidance: revenue $640M +/- $20M, GAAP EPS $2.38 +/- $0.25, non-GAAP EPS $3.00 +/- $0.25.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• On June 12, 2026, Advanced Energy Industries, Inc. issued a notice of redemption for all $136,709,000 of its outstanding 2.50% Convertible Senior Notes due 2028.
• The redemption is made under Section 16.01 of the Indenture dated September 12, 2023, with U.S. Bank Trust Company, National Association as trustee.
• Holders may convert notes until September 22, 2026; the conversion rate is 7.2747 shares per $1,000 principal, increased by 0.0743 shares for conversions related to the redemption notice.
• The company will settle conversions by paying cash for principal and delivering common stock for the remainder, with the observation period running from June 26 to September 21, 2026.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• Net proceeds were approximately $1,128.1 million; $69.0 million was used for Capped Call Confirmations and approximately $442.4 million plus 1.98 million shares of common stock were exchanged for $438.3 million of its 2.50% Convertible Senior Notes due 2028.
• The Notes mature on May 15, 2031, with an initial conversion rate of 1.9655 shares per $1,000 principal (initial conversion price ~$508.78 per share), and are redeemable at the Company's option on or after May 21, 2029 under certain conditions.
• The Company entered into Capped Call Confirmations to reduce potential dilution from conversion, and partially unwound existing call spread transactions, receiving approximately $44.6 million on a net basis.
• Approximately $136.7 million of the 2028 Convertible Notes remain outstanding after the exchange transactions.

1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 3.02 Unregistered Sales of Equity Securities · 9.01 Financial Statements and Exhibits

• The notes have an initial conversion price of approximately $508.78 per share, a 50% premium over the $339.19 closing stock price on May 13, 2026.
• Net proceeds are expected to be about $980.8 million (or $1,128.1 million if the initial purchasers' option for an additional $150 million is fully exercised).
• Proceeds will fund $60.0 million for capped call transactions, $442.4 million cash plus ~1.98 million shares to exchange ~$438.3 million of 2028 convertible notes, and general corporate purposes.
• The offering is expected to close on May 18, 2026, subject to customary conditions.
• Advanced Energy entered into capped call transactions with an initial cap price of $678.38 per share and expects to receive about $44.6 million net from unwinding existing hedges.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• On May 13, 2026, Advanced Energy Industries, Inc. announced a private offering of $1.0 billion aggregate principal amount of Convertible Senior Notes due 2031.
• Proceeds will fund capped call transactions, exchange a portion of the existing 2.50% Senior Convertible Notes due 2028, and for general corporate purposes.
• The notes will mature on May 15, 2031, pay interest semiannually, and be senior unsecured obligations.
• Advanced Energy expects to enter into capped call transactions and separate note exchanges with holders of the 2028 convertible notes.

8.01 Other Events · 9.01 Financial Statements and Exhibits

• Shareholders ratified Ernst & Young LLP as the independent registered public accounting firm for 2026.
• Advisory approval of named executive officer compensation was approved.
• An amendment to the certificate of incorporation increasing authorized common stock from 70,000,000 to 140,000,000 shares was approved and filed with Delaware on May 7, 2026.
• The amended and restated 2023 Omnibus Incentive Plan was approved, increasing authorized shares from 2,400,000 to 4,900,000 and extending the termination date to May 7, 2036.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits

• GAAP gross margin was 39.3%; non-GAAP gross margin was 40.1%.
• GAAP EPS from continuing operations was $1.59; non-GAAP EPS was $2.09, above the midpoint of guidance.
• Data Center Computing revenue more than doubled year-over-year.
• Q2 2026 guidance: revenue $540 million +/- $20 million, GAAP EPS $1.54 +/- $0.23, non-GAAP EPS $2.18 +/- $0.25.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Q4 2025 GAAP EPS from continuing operations was $1.31; non-GAAP EPS was $1.94, both towards the high end of guidance.
• Full-year 2025 revenue grew 21% to $1.80 billion, with Data Center Computing revenue up 107% to a record level.
• Full-year 2025 GAAP EPS from continuing operations was $3.87; non-GAAP EPS was $6.41, up 73% year-over-year.
• Q1 2026 guidance: revenue $500 million +/- $20 million, GAAP EPS $1.44 +/- $0.25, non-GAAP EPS $1.94 +/- $0.25.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits