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Infineon Technologies AG

Investor Presentation • Jan 29, 2010

222_ip_2010-01-29_1589f262-9b15-4304-9301-99c4732091f2.pdf

Investor Presentation

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First Quarter FY 2010

Quarterly Update

Infineon Technologies AG Investor Relations

ÎInfineon Results and Outlook

ÎBusiness Highlights

Q1 FY10 Revenue Increased to EUR 941m; Profitability Improved Further

[eWLB (embedded wafer-level ball grid array)]

Q1 FY10 Revenue and Result by Segment: All Operating Divisions Profitable

Net Cash Position Improved to EUR 874m

Capital structure after Q1 FY10

  • Repurchase of EUR 48m nominal amount of outstanding bonds in Q1 FY10.
  • Other debt repayments of EUR 10m in Q1 FY10.
  • Convertible bond 2010 maturing on June 5th.
  • Positive free cash flow of EUR 14m in Q1 FY10 includes EUR 88m negative effect on gross cash from deconsolidation of ALTIS.

CapEx Significantly Below D&A in FY 2010

1) For definition please see slide 24 in appendix.

2) As of January 29, 2010, Infineon anticipates that CapEx will be at the higher end of the previous guidance range of EUR 220m to EUR 250m.

Strong Working Capital Management

Working Capital2) Inventories

Trade and other receivables

2) For definition please see slide 24 in appendix.

521 503 451Q1 FY09 Q2 FY09 Q3 FY09 Q4 FY09 Q4 FY09 Q1 FY10Bars: Inventories [EUR m] Lines: DoI2) [days] incl. WLC excl. WLCexcl. Altisexcl. Altis

Trade and other payables

OpEx Up Q-on-Q Mainly Due to End of Temporary Labour Cost Reduction Measures

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Segment Result

Infineon expects high single-digit combined Segment Result margin for Q2 FY10.

FY 2010 Outlook (IFRS)

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ÎInfineon Results and Outlook

ÎBusiness Highlights

Revenue Split by Focus Area

Automotive Segment (ATV)

Revenue and Segment Result for FY 2009 and Q1 FY10

Major recent developments

  • Strong revenue groth mainly driven by improved market conditions in Q1 FY10 and replenishment at our customers. Outlook for car production 2010 improved across all market research firms.
  • Increasingly positive trend towards cars with higher semiconductor content.
  • In 2009, China moved to world's number 1 position in terms of car sales, leaving behind the US.
  • Infineon is successfully extending its position in emerging markets with design-wins at Chinese and Indian players including car and motorbike manufacturers.

Three Major Applications in Electric Cars: Drive Train, Battery Management, Charger

Drive Train

Components: – HybridPACK™1 for mild hybrids (≤ 30 kW) HybridPACK™2 for full hybrids (up to 150 kW) discrete IGBTs for electric vehicles

What counts? – highest power density

innovative material combination

Battery Management

Components: CoolMOS™, voltage regulators, µCs, sensors

  • What counts? extension of battery lifetime
  • efficient DC/AC and AC/DC conversion
  • monitoring and control of battery pack's state by smart algorithms

Charger

Components: CoolMOS™, discrete IGBT

What counts? – efficient AC/DC conversion short charging time handling of high currents

Electric Drive Train is Gaining Momentum – Numerous Vehicle Launches Expected 2010 through 2015

Industrial & Multimarket Segment (IMM)

Revenue and Segment Result for FY 2009 and Q1 FY10

Major recent developments

  • Revenue driven by renewable energies, traction and low-power drives as well as by computing segment (22% PC unit shipment growth year-on-year in December quarter; source: Gartner).
  • Infineon and Fairchild reached settlement of patent infringement litigation relating to superjunction power MOSFETs. As a result, Fairchild will make payments to Infineon.
  • New annual photovoltaic installations are forecast to grow by > 30% CAGR from 2009 to 2013 (source: IMS Research).

Technically Superior Power Semiconductors in Prestigious Buildings

Vatican's Auditorium

Location: Auditorium Paolo VI, Rome, Italy Key data: 220 kW power generation, saving of 225 t CO2 / year Efficiency: more than 98% Components: CoolMOS™, discrete IGBT, IGBT modules Customer: SMA Solar Technology

2009 World Games Kaohsiung Stadium

The stadium built for the 8th World Games 2009 is the world's first such facility to generate all its power needs through solar modules. Infineon was comissioned by Delta Group as the main supplier of power semiconductors for the inverters.

Location: Kaohsiung, Taiwan

  • Key data: 14,155 m² solar panal area
  • 1.1 MWh of electricity per year
  • saving of 660 t CO2emission per year

Efficiency: ~98%

Components: CoolMOS™ C3 (70% of power semis provided by IFX)

Customer: DeltaSol, a subsidiary of Delta Group

Renewable Energy Projects Powered by Infineon's Power Semiconductors

BARD Offshore 1

Germany's first off-shore wind park.

Location: 90 km northwest of Borkum, North Sea, Germany

  • Key data: 80 wind turbines of 5 MW each
  • 400 MW total power generation
  • completion exp. end of CY 2010

Components: Power module IHM 1700V

Customer: Loher GmbH

Bavaria Solar Park

The world's largest solar photovoltaic power system in 2006.

Location: Mühlhausen, Bavaria, Germany

  • Key data: 10 MW solar tracking system
  • saving of 10,000 t CO2emission per year

Components: Power module IHM

Customer: Siemens AG

Chip Card & Security Segment (CCS)

Revenue and Segment Result for FY 2009 and Q1 FY10

Major recent developments

  • Infineon recently started deliveries for the China electronic passport project. Infineon is now part of the two world's biggest electronic passport projects: USA and China.
  • Architectural license agreement with ARM® for advanced security applications allows Infineon to integrate its innovative security measures into the heart of the CPU core implementation; approach well received at customers.
  • Infineon's TPM security chips are first to receive Global TCG and Common Criteria Certification effectiveness level of "moderate" for evaluation assurance level 4+ and UK Government Approval; demonstrating the market's trust in Infineon's security expertise for PC and data network protection.

Three Core Competencies at CCS

Tailored Security

Focus on: implementation of made-to-measure security functions which fulfill application-specific security needs

  • Examples: entertainment (e.g. Pay-TV)
  • –brand protection
  • –public transport

Embedded Control

Focus on: right trade-off between computing power, power consumption, level of security, and cost.

  • Examples: mobcom-NFC, M2M
  • –digital tachograph
  • –trusted computing

Contactless Excellence

Focus on: fast, reliable and secure transfer of the data stored on the card or the identification document. A high data transfer rate is key to achieving a high level of acceptance and user friendliness.

Examples: – contactless payment –government identification

Wireless Solutions Segment (WLS)

Revenue and Segment Result for FY 2009 and Q1 FY10

Major recent developments

  • Revenues remained on high level mainly due to strong demand in smartphone segment.
  • Nokia and Infineon announced a non-exclusive collaboration to ensure that Nokia's licensable HSPA and LTE modem designs work seamlessly with Infineon's leading RF transceiver solutions.
  • Infineon announced SMARTi UE2, the latest generation multi-band HSPA+/EDGE/GPRS RF transceiver. Its groundbreaking digital architecture reduces the number of power amplifiers from five to one and integrates all low noise amplifiers and interstage filters.

Recent Product Launches

HSUPA Platform XMM 6160

Features: 65nm technology; power management unit (PMU) and baseband monolithically integrated; RF transceiver: SMARTi UE family; support of 3G bands I, II, IV, V and VIII.

Status: Ramp at major customers in FY 2010.

EDGE Platform XMM 2130

Features: 65nm technology; PMU, baseband, RF transceiver, and memory monolithically integrated.

Status: Volume shipments to tier-1's and major customers. Ramp at Nokia expected in 2H CY10.

ULC Platform XMM 1100

Features: 65nm technology; PMU, baseband, RF transceiver, and memory monolithically integrated.

Status: First shipments to tier-1's and major customers. Volumes are expected to increase steadily.

Notes

CapEx =

  • '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'
  • 'Available-for-sale financial assets'
  • 'Assets classified as held for disposal')
  • ('Total current liabilities'
  • 'Short term debt and current maturities of long-term debt'
  • 'Liabilities associated with assets classified as held for disposal')
  • DoI (days of inventory; quarter-to-date) = ('Inventories' / 'Cost of goods sold') * 90
  • DSO (days of sales outstanding; quarter-to-date) = ('Trade and other receivables' / 'Revenue') * 90

DPO (days of payables outstanding; quarter-to-date) = ('Trade and other payables' / ['Cost of goods sold' + 'Purchase of property, plant and equipment']) * 90

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)*: Weighted average shares outstanding (in million) – basic and diluted 813 977 1,087 Basic and diluted earnings (loss) per share from continuing operations (0.14) 0.03 (0.04) Basic and diluted earnings (loss) per share from discontinued operations (0.32) (0.01) 0.10 Basic and diluted earnings (loss) per share (0.46) 0.02 0.06

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

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ble
tax
me
rec		 11 19
Oth
nt f
ina
nci
al a
ts
er c
urre
sse		 26 23
Oth
nt a
ts
er c
urre
sse		 114 111
Ass
ets
cla
ssif
ied
hel
d fo
le
as
r sa		 112 17
Tot
al c
ent
set
urr
as
s		 2,7
44		 2,8
28
Pro
lant
d e
ipm
ty,
ent
per
p
an
qu		 928 841
Go
odw
ill a
nd
oth
er i
nta
ible
set
ng
as
s		 369 369
Inve
ed
for
usi
the
uity
tho
d
stm
ent
unt
s a
cco
ng
eq
me		 27 35
Def
d ta
ts
erre
x a
sse		 396 392
Oth
er f
ina
nci
al a
ts
sse		 124 122
Oth
ts
er a
sse		 18 18
Tot
al a
ts
sse		 4,6
06		 4,6
05
in E
mi
llio
uro
n		 Sep
30
, 09		 De
c 3
1, 0
9
Lia
bili
ties
d e
ity
an
qu
Cur
t lia
bilit
ies
ren
:
Sho
rt-te
deb
t an
d c
nt m
atu
ritie
f lo
term
de
bt
rm
urre
s o
ng-		 52
1		 496
Tra
de
and
oth
ble
er p
aya
s		 393 404
the
rein
: Tra
de a
unts
able
cco
s		 384 394
pay
Cu
ovis
ion
t pr
rren
s		 436 480
Inco
ble
tax
me
pa
ya		 102 114
Oth
nt f
ina
nci
al l
iab
ilitie
er c
urre
s		 50 25
Oth
nt l
iab
ilitie
er c
urre
s		 147 149
Lia
bilit
ies
clas
sifie
d a
s h
eld
for
le
sa		 9 19
Tot
al c
ent
lia
bili
ties
urr		 1,6
58		 1,6
87
Lon
deb
g-te
t
rm		 329 308
Pen
sion
lan
nd
sim
ilar
itm
ent
p
s a
co
mm
s		 94 97
Def
d ta
x lia
bilit
ies
erre		 13 6
Lon
vis
ion
g-te
rm
pro
s		 89 64
Oth
er f
ina
nci
al li
abi
litie
s		 5 4
Oth
er l
iab
ilitie
s		 85 99
Tot
al l
iab
iliti
es		 2,2
73		 2,2
65
Sha
reh
old
' eq
uity
ers
:
Ord
ina
har
ital
ry s
e c
ap		 2,1
73		 2,1
73
Add
ition
al p
aid
-in
ital
cap		 6,0
48		 6,0
48
Acc
ulat
ed
def
icit
um		 (5,9
40)		 (5,8
75)
Oth
f eq
uity
ent
er c
om
pon
s o		 (8
)		 (6
)
Tot
al e
ity
ibu
tab
le t
har
eho
lde
f In
fine
Tec
hno
log
ies
AG
attr
qu
o s
rs o
on		 2,2
73		 2,3
40
No
rol
ling
int
ont
sts
n-c
ere		 60 -
Tot
al e
ity		 2,3
33		 2,3
40
qu
Tot
al l
iab
iliti
and		 05
uity
es
eq		 4,6
06		 4,6

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

3 m
ont
hs e
nde
d
(€ m
illion
s)		 Dec
31,
08		 Sep
30,
09		 Dec
31,
09
Net
inc
(los
s)
ome		 (404
)		 14 66
Les
et lo
ss (
inco
me)
fro
m d
isco
ntin
ued
ratio
s: n
ope
ns		 285 10 (11
2)
y (u
in)
Adj
ustm
ents
to
ncil
t los
s to
h pr
ovid
ed b
sed
ratin
tivit
ies:
reco
e ne
cas
ope
g ac
Dep
reci
atio
d am
ortiz
atio
n an
n		 139 114 106
Pro
visio
n fo
r do
ubtf
ul a
unts
cco		 2 - -
Los
(ga
ins)
sale
s of
ilab
le-fo
le fi
cial
ets
ses
on
ava
r-sa
nan
ass		 - 1 (2)
Los
(ga
ins)
sale
s of
bus
ines
and
inte
s in
sub
sidi
arie
rest
ses
on
ses
s		 (1) - (3)
of A
S
Los
in c
ecti
ith t
he d
lidat
ion
LTI
ses
onn
on w
eco
nso
Inco
from
inv
ted
for
usin
uity
thod
estm
ents
me
acc
oun
me		 -
(1)		 -
(2)		 81
(1)
g th
e eq
Imp
airm
ent
cha		 4 6
rges
Def
d in
e ta
erre
com
xes		 -
3		 (5) (2)
Cha
s in
ratin
and
liab
ilitie
sets
nge
ope
g as
s:
Tra
de a
nd o
ther
eiva
bles
rec		 237 (19
)		 18
Inve
ies
ntor		 (2) 20 (3)
Oth
nt a
ts
er c
urre
sse		 (42) (6) (1)
Tra
de a
nd o
ther
able
pay
s		 (17
1)		 18 13
Prov
isio
ns		 (63) (2) (1)
Oth
nt li
abil
ities
er c
urre		 (3) 30 (29
)
Oth
nd l
iabi
lities
ts a
er a
sse		 (7) 10 30
Inte
rest
eive
d
rec
Inte
pai
d
rest		 9
(7)		 5
(3)		 1
(10
)
Inco
tax
ived
(pa
id)
me
rece		 21 1 (8)
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		 (5) 190 149
y (u
in)
es f
Net
h pr
ovid
ed b
sed
ratin
tiviti
dis
tinu
ed o
tion
cas
rom
con
s		 (34
4)		 (1) (2)
ope
g ac
pera
Net
h pr
ovid
ed b
y (u
sed
in)
ratin
tiviti
cas
es		 (34
9)		 189 147
ope
g ac
Cas
h flo
from
inv
esti
ctiv
ities
ws
ng a
:
ds f
f av
for-
fina
Pro
sal
aila
ble-
sale
ncia
l as
sets
cee
rom
es o		 5 6 2
Pro
ds f
sal
f bu
sine
d in
in s
ubs
idia
ries
tere
sts
cee
rom
es o
sse
s an		 - - 1
Cas
TIS
h de
se f
the
dec
olid
atio
n of
AL
crea
rom
ons		 - 0 (88
)
Pur
cha
of i
gibl
d ot
her
ntan
sets
ets
ses
e as
, an
ass		 (11
)		 (18
)		 (14
)
Pur
cha
of p
rty,
plan
t an
d eq
uipm
ent
ses
rope		 (28
)		 (22
)		 (34
)
Pro
ds f
sal
f pro
lant
and
ipm
and
oth
pert
ent,
ts
cee
rom
es o
y, p
equ
er a
sse		 - 1 -
Net
h us
ed i
n in
ting
act
ivitie
s fro
onti
nuin
erat
ions
cas
ves
m c
g op		 (34
)		 (33
)		 (13
3)
Net
h pr
ovid
ed b
y (u
sed
in)
inve
stin
tivit
ies
from
dis
tinu
ed o
tion
cas
g ac
con
pera
s		 319 (4) 220
y (u
in)
Net
h pr
ovid
ed b
sed
inve
stin
tivit
ies
cas
g ac		 285 (37
)		 87
Cas
h flo
from
fina
ncin
tivit
ies:
ws
g ac
Net
cha
in s
hort
m d
ebt
-ter
nge		 10 - -
Net
cha
in r
elat
ed p
arty
fina
ncia
l rec
eiva
bles
and
able
nge
pay
s
Pro
ds f
iss
f lon
rm d
ebt
cee
rom
uan
ce o		 (2)
1		 - (2)
g-te
Prin
of l
m d
ebt		 - -
cipa
l rep
ents
-ter
aym
ong
Cha
in r
icted
estr		 (84
)		 (18
7)		 (58
)
h
nge
cas		 (1) - -
ds f
f or
Pro
iss
dina
hare
cee
rom
uan
ce o
ry s
s		 - 680 -
Div
iden
d pa
inor
ity in
nts
to m
tere
sts
yme		 - 3 -
Cap
ital
tribu
tion
con		 (5) - -
Net
h pr
ovid
ed b
y (u
sed
in)
fina
ncin
tivit
ies
from
tinu
ing
ratio
cas
g ac
con
ope
ns		 (81
)		 496 (60
)
Net
h pr
ovid
ed b
y (u
sed
in)
fina
ncin
tivit
ies
from
dis
tinu
ed o
tion
cas
g ac
con
pera
s		 19 - -
Net
h pr
ovid
ed b
y (u
sed
in)
fina
ncin
tivit
ies
cas
g ac		 (62
)		 496 (60
)
Net
inc
e (d
) in
h an
d ca
sh e
quiv
alen
ts
reas
ecre
ase
cas		 (126
)		 648 174
Effe
f fo
ct o
reig
cha
rate
cha
h an
d ca
sh e
quiv
alen
ts
n ex
nge
nge
s on
cas		 (8) (1) 1
Cas
h an
d ca
sh e
quiv
alen
t be
ginn
ing
of p
erio
d
ts a		 1,1
70		 767 1,4
14
Tot
al c
ash
and
h eq
uiva
lent
s at
end
of
peri
od
cas
Les
s: C
ash
and
h eq
uiva
lent
end
of p
erio
d cl
ified
held
for
disp
l
s at
cas
ass
as
osa		 1,0
36
389		 1,4
14		 1,5
89
Cas
h an
d ca
sh e
quiv
alen
ts a
t en
d of
iod
per		 647 -
1,4
14		 -
1,5
89

Copyright © Infineon Technologies 2009. All rights reserved. Page 27

Financial Calendar and IR Contacts

Financial Calendar

  • Feb 11, 2010 Annual General Meeting, Munich
  • Feb 16, 2010 Presentation at Mobile World Congress, Barcelona
  • Apr 29, 2010* Q2 FY10 Results
  • Jul 28, 2010* Q3 FY10 Results
  • Nov 16, 2010* Q4 and Full Year FY10 Results

* Preliminary Date

IR Contacts

Ulrich Pelzer

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

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

Barbara Böckelmann

Manager, Investor Relations +49 89 234-20166 [email protected]

Disclaimer

This presentation was prepared as of January 29, 2010 and is current only as of that date.

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

These forward-looking statements are subject to a number of uncertainties, such as broader economic developments, including the pace and sustainability of the current economic recovery; 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 availability of funds; 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 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 forward-looking 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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