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Infineon Technologies AG

Investor Presentation • Dec 30, 2010

222_ip_2010-12-30_d99bda44-b2b5-40b1-bb47-6ae7f5bac96e.pdf

Investor Presentation

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Credit Suisse ConferenceScottsdale, AZ, 01 December 2010

Infineon Technologies AG

Ulrich PelzerCorporate Vice PresidentCorporate Development & Investor Relations

Infineon Results and Outlook

Business Highlights

Infineon's Superior Manufacturing Technologies

In Q4 Revenue and Profitability of IFX Improved

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Notes: IFX Continued Operations (excl. WLS) for Revenues and Segment Result and Free Cash Flow; Employees are all current IFX employees without temporary employees; Net Income, Gross Cash, Net Cash and Equity Ratio as reported.

SR Margin from Cont. Ops Was 18%;Net Income EUR 390m

Note: Revenue and Segment Result Infineon Continued Operations (excl. WLS), Net Income IFX as reported (incl. WLS)

Higher Investments in Response to Demand and 300mm-Thin-Wafer Pilot Line

1) For definition please see slide 34in appendix.

Net Cash Rose to EUR 1.3bn

*Consists of Convertible Bond 2014 (nominal value EUR 196m; book value EUR 153m).

Strong improvement of net cash position driven by large free cash flow from continuing operations of EUR 236m in Q4 FY10.

Low leverage including in-the-money convertible 2014.

WLS Transaction Will Enable a Strategic Cash Position

Another Year of Growth in FY 2011;Continuing Strong Operat. Performance

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Infineon Results and Outlook

Business Highlights

Infineon's Superior Manufacturing Technologies

Revenue Split by Division

12-months FY 2010 revenue split

Source: Strategy Analytics,May 2010

23 November 2010

Source: IMS Research,

August 2010

Source: Frost & Sullivan,

October 2010

Chip Card & Security Segment (CCS)

Revenue and Segment Result from Q1 FY08 to Q4 FY10

Sales in Q4 was driven by higher demand in certain government ID projects. Segment result doubled to EUR 12m compared with Q3.

23 November 2010

Automotive Segment (ATV)

Revenue and Segment Result from Q1 FY08 to Q4 FY10

Sales in Q4 was driven by continued strong demand in all regions and across the entire product range. Segment result margin again slightly up to 17.1%.

Four Infineon Sensors in Each and Every Car Worldwide on Average

23 November 2010

25m Bicycles Sold in China in 2009;1 Out of 3 Uses Infineon Semiconductors

Infineon's solutionsand system know-how for e-vehicle applications

Microcontroller

High-performance 8- and 16-bit µC

MOSFETs

OptiMOS and CoolMOS

Gate Driver ICs

3-phase Bridge Driver ICs

Power Supply

  • Linear and DC/DC Voltage Regulator
  • PFC/LLC Controller
  • CoolSET
  • SiC Diodes

Communication

CAN and LIN Transceivers

Sensors

  • iGMR Angle Sensors
  • Hall Switches
  • Current Measurement

LED Lighting

  • Linear LED Driver IC´s
  • Switched Mode LED Drivers
  • Smart Power Switches

Industrial & Multimarket Segment (IMM)

Revenue and Segment Result from Q1 FY08 to Q4 FY10

Revenue, segment result and segment result margin came in at an all time high in Q4 of EUR 413m, EUR 98m and 23.7%, respectively.

IMM Achieves Around 3/4 of its Revenues With Power Products; 1/4 With Non-power Products

Balanced Application Portfolio;More Than Half of IMM Sales in APAC

IFX Continues to Gain Market Share in BothPower Discretes and Power Modules Market

Source: IMS Research, Global Market for Power Semiconductor Discretes & Modules, August 2010.

Demand for Energy Continues to Grow –~1/3 of Energy Consumption is Electricity

World energy consumption, 1970 – 2035

World EnergyConsumption 2007

Approximately one third of global energy use is based on electricity.

Sources: Energy Information Administration (EIA), International Energy Outlook 2009, 2010, BP World Energy report

1) Infineon estimates based on IEA 2006

2) British thermal unit (Btu): 1 Btu = 1,05506 kJ

Power Semiconductors Play a Major Role in the Whole Electrical Energy Supply Chain

Continuous Growth in Renewables;First Design-Wins in Chinese Wind Market

  • Wind mills typically range from ~2 MW (on-shore) to ~5 MW (off-shore).
  • Power semiconductor content in wind mills accounts for ~ EUR 6k to EUR 25k.
  • Products: IGBT modules, thyristor discs and modules and complete inverter stacks.

Shenzhen Hopewind

First design-wins in China at Shenzhen Hopewind Electric Co., Ltd., a leading Chinese wind energy converter manufacturer.

Converter

EconoDUAL™3

Goldwind

Infineon and Goldwind sign an agreement on IGBT stack technology.

Motor Drives and Traction Are Propelled by Environmental Awareness and Urbanization

Energy efficientmotor drives

Transportation

Cement

CAV

  • Drives and traction applications typically range from few kW to 100 MW.
  • conductor content accounts for~ EUR 5 (small drives) toEUR 100k in a high speed train.

Sources: Infineon AG, Siemens AG

China Railways Has Seen Strong Stimulus Support; Network Build-out Continues

The renaissance of trains: High-speed and urban electric trains

China's Ministry of Railways is planning to expand the operating length of the Rail network from 86,000 km in 2009 to 120,000 km by 2020. The corresponding fixed asset investment required is USD 450bn, of which USD 125bn has been spent already.

Very high -speed rail network: The Ministry of Railways expects to increase the high speed rail operating length from 13,000 km today to 20,000 km by 2020, implying 54% growth overall.

Urban/Mass transit markets: To support the plans to urbanize 300m people by 2030, the government wants to build out the transport network in metros. This is the fastest growing segment with the operating length growing nearly 6.5x, from 960 km in 2009 to 11,700 km by 2020.

Siemens Velaro Selected by EuroStar;EUR 50k to 100k Semi Content Per Train

  • 10 trains ordered for EUR 600m in total.
  • 130 IGBT modules per train resulting in EUR 50k to 100k power semiconducor content per train.
  • Power semiconductors represent only 0.15 to 0.2% of system cost but contribut significantly to the entire functionality.

Highest Efficiency in Power Architecture is Key for Today's Computing Applications

  • Worldwide approx. 145 mio(1) new desktop PCs are sold per year.
  • 300 W silverbox running at average load of 50%.
  • For 8 h per day electrical energy consumption would be 63,500 GWh per year.
  • 1% efficiency increase ≅ saving of 635 GWh per year ≅ net savings of ~320,000 tons CO2/year(2).

  • 2009: advanced Infineon power technologies like CoolMOSTM and SiC enabled reduction of CO2 emissions of approx. 140,000 tons!

  • Computing applications typically range from 50 W to ~3 kW.

  • Power semiconductor content in computing applications range from EUR 1 to EUR 50.
  • Products: CoolMOSTM, OptiMOSTM,SiC products, driver ICs and digital power controllers (PrimarionTM).

(1) Infineon estimate based on external analyst figures (Gartner; JPMorgan, 2010).(2)Assuming 500 g CO2/kWh (average based on values from literature ranging from 375 g CO2/kWh (EU-commission) to 750 g CO2/kWh (Solar World).

Infineon Results and Outlook

Business Highlights

Infineon's Superior Manufacturing Technologies

Unique Manufacturing Know-How inUltra-thin Wafers

  • Lighting
  • Inductive cooking
  • Automotive

Manufacturing competencies

  • Ultra-thin wafer handling
  • Frontside processing
  • Backside processing
  • Outstanding cost performance, e.g.IGBTs and SiC diodes

Unique Technology and Manufacturing Know-How in Silicon-Carbide (SiC)

Silicon-carbide diode

Applications

  • Power factor correction in high-end power supplies (server, telecom, flat panel displays).
  • Solar inverter.
  • Speed-controlled motors for traction and drives.

Manufacturing competencies

  • 100 mm SiC manufacturing line in Villach, Austria, on standard 150/200mm equipment.
  • World's 1st 10x100 mm SiC epi system.
  • About 30-50% smaller chip size than competition with same performance.
  • Special high-temperature processes.

Outstanding Electrical Performance With CoolMOS™ Super-Junction Power MOSFETs

Super-junction transistor

Applications

  • Power supplies for servers, PCs, notebooks, games consoles, adapters.
  • Graphics boards
  • Lighting
  • Solar inverter
  • Automotive

Manufacturing competencies

  • In the late 1990s, a super-junction transistor was invented, dubbed CoolMOS™.
  • Manufacturing improvements led to a cost reduction by a factor of 4.
  • Reduction of RDS(on) by a factor of 6.

.XT Technology Will Improve Lifetime By a Factor of 10 Versus Standard Technology

Emerging applications requiring longer life time.

  • Trend to higher power density leads to new internal packaging technology.
  • .XT technology is a set of internal connection technologies that will improve all life time limiting areas within an IGBT module.
  • Start of Production: 2011.

What Is .XT Technology?

Notes

Investments =

'Purchase of property, plant and equipment'

  • 'Purchase of intangible assets, and other assets' incl. capitalization of R&D expenses

Working Capital =

('Total current assets'

  • 'Cash and cash equivalents'
  • 'Available-for-sale financial assets'
  • 'Assets classified as held for disposal')
  • ('Total current liabilities' –
  • 'Short term debt and current maturities of long-term debt'

Copyright © Infineon Technologies 2010. All rights reserved. – 'Liabilities classified as held for sale') Net Inventory Reach (days of inventory; quarter-to-date) = ('Net Inventories' / 'Cost of goods sold') * 90 DSO (days of sales outstanding; quarter-to-date) = ('Trade accounts receivables (net)' / 'Revenue') * 90 DPO (days of payables outstanding; quarter-to-date) = ('Trade accounts payables' / ['Cost of goods sold' + 'Purchase of property, plant and equipment']) * 90 23 November 2010

Infineon Consolidated Statements of Operations (IFRS) (unaudited)

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Basic and diluted earnings (loss) per share attributable to

shareholders of Infineon Technologies AG (in Euro):

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(1)Prior period figures have been adjusted.

Infineon Consolidated Statements of Financial Position (IFRS) (unaudited)

in E
mil
lion
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30,
10		 (1)
Jun
30,
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Sep
30,
09
Ass
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Cur
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ass
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7		 1,45
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Trad
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Inve
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Oth
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Tot
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Goo
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Def
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Tot
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8		 4,36
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in E
mil
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Jun
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Sep
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09
Liab
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d eq
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s an
Cur
liab
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s:
Sho
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ebt
and
rent
turit
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of lo
ng-t
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ma
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Tra
de a
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pay
s		 665 577 393
ther
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Trad
bles
nts
e ac
cou
paya		 659 572 384
Cur
rent
visi
pro
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Inco
tax
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me
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Oth
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liab
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er c
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s		 16 54 50
Oth
nt li
abil
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er c
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Liab
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s cl
ified
held
for
sale
ass
as		 177
-		 14 9
Tot
al c
nt li
abil
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urre		 1,80
8		 -
1,62
1		 -
1,65
8
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g-te
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Pen
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pla
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mitm
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ns a
ar c
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Def
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x lia
bilit
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Lon
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Oth
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liab
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s		 6 4 5
Oth
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-		 134
-		 85
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Tot
al li
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-		 2,20
8
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3		 2,17
3		 2,17
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Add
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al p
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8		 6,04
8		 6,04
8
Acc
late
d de
ficit
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13)		 (5,9
11)		 (6,1
80)
Oth
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Tot
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quit
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trib
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sha
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AG
rs o		 2,62
5		 2,31
0		 2,03
3
Non
ntro
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inte
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Tot
al e
quit
y		 2,62
5		 2,31
0		 2,09
3
Tot
al li
abil
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and
ity
equ		 4,99
3		 4,51
8		 4,36
6

(1)Prior period figures have been adjusted.

Infineon Consolidated Statements of Cash Flows (IFRS) (unaudited)

Sep
30,
10		 hs e
nde
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3 m
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Jun
30,
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in E
milli
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Net
inco
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ratin
stm
ents
to r
net
Adju
(los
s) to
h pr
y (u
in)
eco
ome
cas
ope
g
Dep
recia
tion
and
ortiz
atio
am
n		 85 80
(rec
) do
Prov
ision
for
y of
ubtf
ul a
unts
over
cco		 1 98
Los
sale
s of
ilabl
e-fo
le fin
ial a
ts
ses
on
ava
r-sa
anc
sse		 -
-
-		 2
LTIS
Los
in c
ecti
ith t
he d
lidat
ion
of A
ses
onn
on w
eco
nso		 (14) (4) -
Los
(ga
ins)
on d
ispo
sals
of p
rty,
plan
t, an
d eq
uipm
ent,
and
oth
ts
ses
rope
er a
sse		 - (1) 1
Inco
from
inve
stm
ents
ted
for u
sing
the
ity m
etho
d
me
acc
oun
equ		 (1) (4) (3)
Divid
end
ceiv
ed f
ocia
ted
ies
s re
rom
ass
com
pan		 4 3 -
Imp
airm
ent
cha
rges		 - 5 3
Sha
re-b
d co
tion
ase
mpe
nsa		 -
-		 1
Defe
rred
inc
tax
ome
es		 (55) (7) (2)
Cha
s in
ratin
sets
and
liab
ilitie
nge
ope
g as
s:
Trad
d ot
her
ivab
les
e an
rece		 6 (82
)		 (17
)
Inve
ies
ntor		 (8) (18
)		 31
Oth
nt a
ts
er c
urre
sse
Trad
d ot
her
able		 34
92		 (7) (4)
e an
pay
s
Prov
ision
s		 114 83
(46
)		 12
(2)
Oth
nt li
abil
ities
er c
urre		 (70) 174 28
Oth
nd l
iabil
ities
ts a
er a
sse		 25 (2) 5
Inte
eive
d
rest
rec		 3 5 5
Inte
pai
d
rest		 (1) (25
)		 (4)
Inco
ived
(pa
id)
tax
me
rece		 (8) (8) 1
Net
h pr
ovid
ed b
y (u
sed
in)
ratin
tiviti
es f
tinu
ing
ratio
cas
ope
g ac
rom
con
ope
ns		 399 250 165
Net
h pr
ovid
ed b
y (u
sed
in)
ratin
tiviti
es f
dis
tinu
ed o
tion
cas
ope
g ac
rom
con
pera
s		 (12) (11) 24
y (u
in)
Net
h pr
ovid
ed b
sed
ratin
tiviti
cas
ope
g ac
es		 387 239 189
Cas
h flo
ws f
inve
stin
tiviti
rom
g ac
es:
Proc
eed
s fro
ales
of a
vaila
ble-
for-s
ale
fina
ncia
l as
sets
m s		 2 375 6
Proc
eed
s fro
ales
of b
usin
nd i
nter
ests
in s
ubs
idia
ries
m s
ess
es a		 1 - -
Purc
has
f int
ible
ets,
and
oth
ts
es o
ang
ass
er a
sse
Purc
has
lant
and
ent		 (8) (9) (5)
f pro
pert
ipm
es o
y, p
equ
Proc
eed
s fro
ales
of p
plan
d eq
uipm
and
oth
t an
ent,
ts
m s
er a
sse		 (155
)		 (71
)		 (21
)
rty,
rope
Net
h pr
ovid
ed b
y (u
sed
in)
inve
stin
tiviti
es f
tinu
ing
ratio
cas
rom
con
ns		 (1)
(16
1)		 3
298		 1
(19
)
g ac
ope
Net
ovid
ed b
sed
inve
stin
tiviti
es f
dis
tinu
ed o
tion
h pr
y (u
in)
cas
g ac
rom
con
pera
s		 (8) (35
)		 (18
)
Net
h pr
ovid
ed b
y (u
sed
in)
inve
stin
tiviti
cas
g ac
es		 (169
)		 263 (37
)
Cas
h flo
ws f
fina
ncin
tiviti
rom
g ac
es:
Net
cha
in s
hort
deb
-term
t		 (8)
nge
Net
cha
in re
late
d pa
rty f
inan
cial
ivab
les
and
able
nge
rece
pay
s		 -
2		 -
Proc
eed
s fro
m is
of lo
deb
ng-t
t
sua
nce
erm		 2 -
2		 -
-
Prin
cipa
l rep
ents
of l
-term
deb
t
aym
ong		 (13) (26
7)		 (18
8)
Cha
in re
stric
ted
h
nge
cas		 1 (1)
Proc
eed
s fro
m is
of o
rdin
sha
sua
nce
res		 - -
680
ary
Divid
end
min
ority
inte
ts to
rest
men
s		 -
-		 3
pay
Net
h pr
ovid
ed b
y (u
sed
in)
fina
ncin
tiviti
es f
tinu
ing
ratio
cas
rom
con
ns		 (8) -
(27
4)		 495
g ac
ope
Net
ovid
ed b
sed
fina
ncin
tiviti
es f
dis
tinu
ed o
tion
h pr
y (u
in)
cas
g ac
rom
con
pera
s		 - - -
Net
h pr
ovid
ed b
y (u
sed
in)
fina
ncin
tiviti
cas
g ac
es		 (8) (27
4)		 495
Net
incr
e (d
) in
h an
d ca
sh e
quiv
alen
ts
eas
ecre
ase
cas
Effe
f for
ct o
han
ate
cha
h an
d ca
sh e
alen
ts		 210
5		 228 647
eign
quiv
exc
ge r
nge
s on
cas
Cas
h an
d ca
sh e
quiv
alen
ts a
t be
ginn
ing
of p
erio
d		 1,45
2		 (4)
28
Cas
d of
h an
d ca
sh e
quiv
alen
ts a
t en
iod		 1,66
7		 1,2
52		 767
14
per 1,4 1,4

Financial Calendar and IR Contacts

Financial Calendar

  • Feb 17, 2011 Annual Shareholder Meeting
  • Feb 01, 2011* Q1 FY11 Results
  • May 03, 2011* Q2 FY11 Results
  • Jul 28, 2011* Q3 FY11 Results
  • Nov 17, 2011* Q4 FY11 Results

* Preliminary Date

IR Contacts

Ulrich Pelzer

Corporate Vice PresidentCorporate Development & Investor Relations +49 89 234-26153 [email protected]

Joachim Binder

Senior Director, Investor Relations +49 89 234-25649 [email protected]

Aleksandar JosicManager, Investor Relations +49 89 234-83045 [email protected]

Disclaimer

This presentation was prepared as of November 16, 2010 and is current only as of that date.

This presentation includes forward-looking statements and assumptions about the future of Infineon's business and the industry in which we operate. These include statements and assumptions relating to general economic conditions, future developments in the world semiconductor market, our ability to manage our costs and to achieve our growth targets, the resolution of Qimonda's insolvency proceedings and the liabilities we may face as a result of Qimonda's insolvency, the successful closingof the sale of our WLS business to Intel, the benefits of research and development alliances and activities, our planned levels of future investment, the introduction of new technology at our facilities, our continuing ability to offer commercially viable products, and our expected or projected future results.

These forward-looking statements are subject to a number of uncertainties, such as broader economic developments, including the sustainability of recent improvements in the market environment; trends in demand and prices for semiconductors generally and for our products in particular, as well as for the end-products, such as automobiles and consumer electronics, that incorporate our products; the success of our development efforts, both alone and with partners; the success of our efforts to introduce new production processes at our facilities; the actions of competitors; the continued availability of adequate funds; any mergers, acquisitions or dispositions we may undertake; the outcome of antitrust investigations and litigation matters; and the resolution of Qimonda's insolvency proceedings; as well as the other factors mentioned in this presentation and those described in the "Risk Factors" section of our most recent annual report on Form 20-F on file with the U.S. Securities and Exchange Commission.

As a result, Infineon's actual results could differ materially from those contained in or suggested by these forward-looking statements. You are cautioned not to place undue reliance on these forwardlooking statements. Infineon does not undertake any obligation to publicly update or revise any forward-looking statements in light of developments which differ from those anticipated.

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