If you know the exact length of the first two words, you can use .substring. Otherwise, you can use -Splitand then use it -joinafter assigning the first two entries of the array to your variables.
$mySplit = "alpha bravo charlie delta" -split " "
$var1 = $mySplit[0]
$var2 = $mySplit[1]
$var3 = $mySplit[2..($mySplit.length+2)] -join " "
$var3 , -Split, , . -join , .