Infineon Technologies AG

Investor Presentation • Feb 5, 2019

First Quarter FY 2019 Quarterly Update

Infineon Technologies AG Investor Relations

Agenda

1	Infineon at a glance
2	Quarterly highlights
3	Automotive
4	Industrial Power Control
5	Power Management & Multimarket
6	Digital Security Solutions
7	Selected financial figures

Infineon at a glance: strong financials, leading market positions

Infineon's organic revenue development clearly outperformed the total semi market

• * Based on Infineon's portfolio (excl. Other Operating Segments and Corporate & Eliminations) per end of FY18.
• ** Source: WSTS (World Semiconductor Trade Statistics) in EUR, October 2018.

Our strategy is targeted at value creation through sustainable organic growth

Focus		Technology leadership			System understanding
› Focus on fastest growing segments of semi market › Tackle global megatrends		› Leverage core competencies in different end markets to maximize ROI		› Create value for customers through system under standing
Auto		Power	RF & Sensors		Security
System leader in automotive	#1; system and technology leader		Broad RF and sensor technology portfolio		#1 in Security Solutions

	Target operating model: average-cycle targets
Revenue growth	Segment Result margin	Investment-to-sales
9%	17%+	15%
	Continued value creation for shareholders
›	›	›
Organic RoCE ≙	Paying out at least a constant dividend	continuous EPS
~2x WACC	even in periods of slower growth	increase

Long platform life-times in majority of our businesses provide stickiness and visibility

FY18 revenue of €7,599m by target application

Tight customer relationships, based on system knowhow and application understanding

Infineon holds a leading position in its target markets

Automotive semiconductors

total market in 2017: \$34.5bn

Source: Strategy Analytics, "2017 Automotive Semiconductor Vendor Share", April 2018

Power discretes and modules

total market in 2017: \$18.5bn

Source: Based on or includes content supplied by IHS Markit, Technology Group, "Power Semiconductor Market Share Database 2017", September 2018

Security ICs

total market in 2017: \$3.3bn

Source: ABI Research, "Smart card & secure ICs", October 2018

Q1 FY19 Group and Division Performance

• › Q1 FY19: revenue down q-q due to seasonality caused by inventory level adjustments at the end of the calendar year.
• › Q1 FY19: revenue down q-q due to seasonality in industrial drives and home appliances. Wind stable, photovoltaics and traction increased.
• › Q1 FY19: revenue decreased q-q due to lower demand in DC-DC and normal seasonal decline in mobile devices. AC-DC increased slightly.
• › Q1 FY19: revenue decreased q-q due to normal seasonality in authentication and slight decline in payment. GovID slightly increased.

	Outlook Q2 FY19* (compared to Q1 FY19)	Outlook FY19* (compared to FY18)
Revenue	Stable +/- 2%-points	Increase of ~9% (prev.: Increase of 11% +/- 2%-points)
Segment Result Margin	At the mid-point of the revenue guidance: ~16%	~17.5% (prev.: ~18%)
	Investments in FY19	~€1.5bn (prev.: ~€1.6bn – €1.7bn)
	D&A in FY19	~€1.0bn**

• * Based on an assumed average exchange rate of \$1.15 for €1.00
• ** Including D&A on tangible and intangible assets from purchase price allocation of about €90m

Outlook for FY19 fully in line with long-term target operating model (TOM)

	Outlook FY19	Long-term (TOM)
Revenue growth	~9%	~9%
Segment result margin	~17.5%	~17%+
Investment-to-sales	Investments ~€1.5bn	~15%*
	› Includes ~€250m for cleanroom, office buildings and structural changes

* Thereof ~2%-points capitalized R&D according to IFRS reporting standards. The balance of ~13% corresponds to capex, of which ~6%pt is fixed, ~7% related to capacity expansion.

New Villach 300 mm module will add significant capacity in power semiconductors

Key criteria for site selection

• › Time to revenue
• › Geographic diversification

Building space	~60,000 m²
Total frontend investment	> €1.6bn over 6 years
Revenue potential	> €1.8bn per year
Start of construction	early 2019
Ready-for-equipment	mid 2020
Ready-for-production	early 2021
Technologies	IGBT and MOSFET for all end markets

Gross margin potential driven by 300 mm manufacturing for power and sensors

› 300 mm vs. 200 mm: 20% - 30% cost advantage when fully loaded

• › ~6% cost advantage on frontend level
• › ~2.25%-points gross margin improvement excluding counter effects

Unique position allows to fill a 300 mm module in a commercially viable timeframe

Sources: Based on or includes content supplied by IHS Markit, Technology Group, "Power Semiconductor Market Share Database 2017", September 2018.

Only limited outsourcing options for high-volume discrete power semiconductors available

Power-focused foundries represent only ~15% of total foundry capacity

Infineon's outsourcing target structure

In the next five years, the Infineon frontend outsourcing share will increase from ~22% to ~30%; of that

• › CMOS: from ~50% to ~70%
• › Power: up to ~15% Outsourcing share is restricted by limited capacity of most of the power-focused foundries

Backend outsourcing share will increase from 23% to 32%

Source: Infineon analysis based on Semi.Org, "Semi World Fab Forecast", August 2018 edition

Agenda

1	Infineon at a glance
2	Quarterly highlights
3	Automotive
4	Industrial Power Control
5	Power Management & Multimarket
6	Digital Security Solutions
7	Selected financial figures

xEV growth driven by emission regulation; EU about to force CO² reduction to -37.5% by 2030 vs 2021

* Japan has already met its 2020 statutory target as of 2013 Source: ICCT (www.theicct.org), April 2018

EU car registrations: standard passenger vehicles (non-xEVs) versus xEVs

• › In 2017, ~4.5% of all cars registered in the EU were electrified (MHEV+FHEV+PHEV+BEV)
• › OEMs claim ~40% of all cars sold by 2030 need to be electrified to reach target of 59 g CO² /km
• › From 2017 to 2030, number of electric vehicles rise by 10x from ~0.6m to ~6.5m resulting in ~20% p.a.
• › In 2017, power semiconductor content for drivetrain per FHEV / PHEV / BEV was ~\$317

Source: ACEA (European Automobile Manufacturers Association), "The Automobile Industry Pocket Guide", May 2018; Infineon * EU car registration assumed to grow from 2017 to 2030 by CAGR(17-30) = 0.5%

AURIX™ family makes significant inroads into infotainment and in-vehicle communication controller

Infineon's AURIXTM existing strong footprint

Significant design-wins confirm AURIX™ 1G/2G as attractive choice for the connected car

AURIX™ stands out due to superior high computing performance on Infineon's safe and secure microcontroller architecture

AURIX™ 1G

AURIX™ 2G

• › Asian OEM selected AURIX™ 1G for gateway module
• › Major European OEM selected AURIX™ 2G for telematics module for all its brands
• › Design-win for AURIX™ 2G for gateway platform at leading European tier-1 for American OEM
• › Major European OEM selected AURIX™ 2G as safe and secure host controller for infotainment platform
• › AURIX™ family penetrates upcoming car architectures very broadly: ADAS, chassis, safety, powertrain, and connectivity!
• › significant revenue contribution starting 2021

Transition from 3G/4G to 5G drives demand in power semis for antennas and power supplies

• › driver #1: massive growth of data and computing power
• › driver #2: higher number of base stations due to denser network
• › driver #3: ~4x higher power semiconductor content per radio board: from ~\$25 for MIMO antenna to ~\$100 for massive MIMO antenna array
• › driver #4: fog computing data center as a completely new market

Automotive

Infineon's position in the automotive semiconductor universe

Source: Strategy Analytics, "Automotive Semiconductor Vendor Market Shares", April 2018

Infineon is continuously outgrowing the market since 2010

Infineon automotive market share development*

* Infineon automotive revenue as reported to Strategy Analytics incl. revenue from ATV, IPC and PMM. Adjusted to calendar year. Source: Strategy Analytics, "Automotive Semiconductor Vendor 2017 Market Share", April 2018.

Clean cars, ADAS/AD, and adoption of premium features drive growth

	Drivers for semiconductor content per car
Vehicle production	Electro-mobility	Automated Driving	Comfort, premium
› ~2% growth p.a.	› Legislation › Improvements of ICE › Higher efficiency of all electric consumers › Adoption of xEV	Today › crash avoidance › ADAS Tomorrow › Autonomous Driving	› Premium cars are early adopters of high-end comfort and safety features › Trickling down to mid-range
	~10% p.a. through-cycle growth

Electro-mobility

Short-term, MHEV/FHEV/PHEVs are first choice; mid-term BEVs are preferred solution

• › Due to absence of improvements in CO² reduction in the past years, OEMs have to switch to "catch-up" mode until 2021
• › OEMs expected to push 48 V MHEV, FHEV, PHEV systems near-term to meet CO² targets
• › Mid- to long-term, BEVs will become the preferred solution

The incremental demand of power semi-conductors is a significant opportunity

2018 average xEV semiconductor content by degree of electrification

* "power" includes linear and ASIC; "others" include opto, small signal discrete, memory

System cost reduction can justify the higher SiC component price

ampacity = current carrying capability

Infineon has unparalleled expertise and portfolio for high-power xEV applications

Infineon offers the complete automotive-grade portfolio of SiC components

• › More than 20 leading OEMs and tier-1s are evaluating Infineon's SiC solutions for automotive
• › Customer feedback clearly shows that Infineon has deepest understanding of technical quality threats
• › Infineon's internal quality test procedures exceed common industry norm; test results proof that Infineon's SiC products reach that quality level
• › Industry's broadest portfolio allows customer to "pick what they need" rather than to "take what we have"

Automated Driving

For Automated Driving more compute power but also a higher security and safety is needed

Increased sensor requirements drive the content in the next 5 years and beyond

		More sensors required for any next level of automation
	NCAP 5 Star, AD L2	AD L3	AD L4/L5
	Automatic emergency brake/ forward collision warning
Application*	Parking assist		Valet parking
	Lane keep assist	Highway assist	Highway and urban chauffeur
Radar # of modules**	Corner MRR/LRR ≥ 3	MRR/LRR	Imaging ≥ 10 ≥ 6
	New: Corner starting 2020	Corner	Surround
Camera # of modules**	≥ 1		≥ 4 ≥ 8
Lidar # of modules**	0		 1 ≥ 1
Others	› Ultrasonic	› Ultrasonic › Interior camera	› Ultrasonic › Interior camera › V2X

* Source: VDA (German Association of the Automotive Industry); Society of Automotive Engineers

** Market assumption

Infineon opens the door for mass-deployable lidar systems for Automated Driving

Average semi content per car by level of automation at the given years

Infineon's Power Strategy

Infineon's portfolio covers the entire range of power and frequency

IPC's and PMM's discrete power portfolio* is basically separated by voltage classes

	silicon-based power semiconductors			compound semiconductors
			6,500 V
y r o			4,500 V	SiC MOSFET
rrit e	IGBT modules		3,300 V	roadmap
C t P I			1,700 V
		discrete IGBTs	1,200 V	SiC MOSFET today
			900 V
	high-voltage MOSFETs (CoolMOS™)		600 V	GaN MOSFET today
y r o			400 V	GaN MOSFET
rrit e			150 V	roadmap
t M M P		mid-voltage MOSFETs (OptiMOS™)
			80 V
			40 V
	low-voltage MOSFETs (OptiMOS™)		20 V

* excluding drivers and control ICs

Three strategic levers to outgrow the power semi market: "core – adjacent – new"

Broaden scope to new applications

› System understanding and strong R&D force allow us to enter emerging power applications

Clear #1 position in power allows driving four key areas of differentiation and innovation

Industrial Power Control

To empower this variety of applications we rely on the most comprehensive power portfolio

Clear leader in discrete IGBTs and IGBT modules; IPMs improved from #4 to #3

* Including standard (non-integrated) IGBT modules and power integrated modules (PIMs) / converter inverter brake (CIB) modules.

** On 29 May 2018, Microchip closed the acquisition of Microsemi. The 2017 revenue depicted here was contributed entirely by Microsemi.

Source: Based on or includes content supplied by IHS Markit, Technology Group, "Power Semiconductor Market Share Database 2017", September 2018.

IPC's biggest application "drives" segmented by end applications in the industry

Infineon serves all major players for PV inverters and wind turbines

IPC revenue in renewables Infineon is powering all leading renewable energy players*

PV inverter2)		Wind4)
1 Huawei		1 Siemens/Gamesa	
2 Sungrow		2 Vestas	
3 SMA		3 Goldwind	
4 TBEA Sunoasis		4 GE	
5 Wuxi Sineng		5 Enercon	
6 ABB		6 Envision	
7 Kstar		7 Nordex	
8 Goodwe		8 Senvion	
9 Growatt		9 United Power	
10 Power Electr.		10 Mingyang	

* Infineon is serving the top-10 of each category but not necessarily as a sole supplier.

Source: 1) based on or includes content supplied by IHS Markit, Technology Group, "PV Installations Tracker – Q1 2018"; March 2018; including off-grid 2) by shipped capacity in MW: based on or includes content supplied by IHS Markit, Technology Group, "PV Inverter Market Tracker – Q1 2018 – v4"; June 2018 3) MAKE Consulting – Market Outlook Update Q1 2018; March 2018

4) by shipped/installed capacity (in MW): MAKE Consulting – Historical Wind Turbine OEM Market Share; April 2018

SiC MOSFETs bring down system cost and size of PV inverters despite higher component cost

Reduction of system cost, higher semi-value

• › 15-20% lower bill of material for inverter manufacturer
• › 2-3x higher semiconductor value as compared to Si-based design

Reduction of system size

• › Simpler topologies with less control effort
• › Higher switching frequency with smaller transformers
• › Same power in smaller box size results in significant system cost reduction

SiC MOSFET demonstrator

Inverterization of home appliances is a key driver for our business

Source:

1) Compared to devices without inverter

2) Source: based on or includes content supplied by IHS Markit, Technology Group, "Home Appliance Database: All Devices and Associated Electronics", May 2018

3) Infineon estimate for a typical aircon

IPC's business success in home appliances is based on several success factors

• Early identification of trend for inverterization
• Market access through inorganic growth (acquisit. of LSPS and IRF)
• Improved delivery capability through capacity increase
• Extension of portfolio of integrated products to gather higher semiconductor share at customers

IPC revenue in home appliances is showing outstanding growth

[EUR m]

Example: motor control solution for aircon indoor fan

Solution based on standard IPM

Solution based on CIPOS™ Nano

Solution based on iMOTION™ Smart IPM

Customer benefits of highly integrated power ICs

• › Significant system cost reduction with BoM savings of ~30%
• › Reduction in engineering efforts
• › Reduction in time-to-market

Digitalization: motor control platform with scalable integration of HW and SW

HMI and AI are driving the penetration of collaborative robots (cobots)

Courtesy: Franka Emika

System understanding and extended product portfolio allow for growth in adjacent markets

Source:

1) Barclays Equity Research, "The rise of co-bots: Sizing the market", 2016 2) Infineon; excl. tools

Growing penetration of electric vehicles will drive rollout of charging infrastructure

2) incl. DC wall boxes

Electrification of trains is accelerating and Infineon is part of two subsystems

Source: Infineon

With an increasing number of applications, particularly module players will win in SiC

Sources: based on or includes content supplied by IHS Markit, Technology Group, "SiC and GaN Power Semiconductors Report - 2018", April 2018, mid case

What comes next? Mid- to long-term structural growth opportunities

fuel cell

Power Management & Multimarket

PMM's growth is built on many applications from different sectors in power and non-power

PMM – Power

2019-02-05 Copyright © Infineon Technologies AG 2019. All rights reserved. 61

Infineon is the clear leader in MOSFETs; growth potential in power ICs

Discrete Power MOSFET market

total market in 2017: \$6.65bn

Power IC market

total market in 2017: \$23.6bn

* On 29 May 2018, Microchip closed the acquisition of Microsemi. The 2017 revenue depicted here was contributed entirely by Microsemi. Source: Based on or includes content supplied by IHS Markit, Technology Group, "Power Semiconductor Market Share Database 2017", September 2018. Discrete Power MOSFET market incl. automotive MOSFETs. Power IC market incl. automotive power ICs.

Technology leadership in MOSFETs and digital power: highest efficiency and power density

Power management solutions reduce TCO

More efficient semiconductors

• › lower power consumption
• › lower opex

Higher power-density

• › more compact system designs
• › lower capex

Highly differentiating solution for data centers enables significant opex and capex reduction

Structural trends for data center

• › Higher memory content; higher computing power
• › Diversified processor supplier base:
• › Data center operators invest in proprietary processor designs

Data center power flow optimized by Infineon

CoolMOS™ and CoolGaN™ enable 2x the output power in a given slot size

Digital power solutions based on OptiMOS™, driver and control ICs supporting latest processor technologies

Customer benefit

• › Capex reduction: doubling computing power per server rack
• › Opex savings: higher efficiency of power conversion reduces electricity cost (computing & cooling)

AC-DC

DC-DC

Four interrelated trends drive power semiconductor BoM in battery-powered applications

In total battery-powered applications are a significant growth driver for PMM's power business

What comes next? Mid- to long-term structural growth opportunities

Core Adjacent New area

smart speaker

PMM – RF and Sensing

2019-02-05 Copyright © Infineon Technologies AG 2019. All rights reserved. 67

RF and Sensing devices enable new services and will shape the way we live and work

Augmented Reality Voice-controlled devices

Various use cases are enabled by a small set of versatile core technologies

Commercial and consumer multicopters

Smart streetlights

Gesture control Industrial robotics

We focus on MEMS sensors and target to become the leader in 3D sensing and radar

Key Use Cases – Examples
Voice authentication	Advanced fitness tracking	Smog alarm	Gesture sensing	3D AR gaming
		Face recognition & biometric identification
Human Machine Interface

XENSIV™ silicon microphones have plenty of growth opportunities beyond smartphones

Source: SAR Insight & Consulting, Smart Speaker Market Growth, March 2018

Leading base technologies for sensor solutions: Time-of-Flight

Examples of uses cases enabled by Time-of-Flight technology

3D scanning AR / VR / gaming Secure face recognition

Digital Security Solutions

Security is a system approach

Example: Automotive Security

• › As humans, machines, 'things' are getting connected, the risks of security attacks increase strongly as attack paths increase
• › Accordingly, there is a greater need for security in fields like smart home, connected cars, information and communication technologies, Industry 4.0
• › Many manufacturers of devices and systems do not have the necessary security know-how

Infineon offers security for the connected world

Continuous stream of new topics aging and exiting

Agenda

1	Infineon at a glance
2	Target operating model (TOM)
3	Quarterly highlights
4	Automotive
5	Industrial Power Control
6	Power Management & Multimarket
7	Digital Security Solutions
8	Selected financial figures

Seasonal revenue decline in Q1 FY19, strong revenue growth + 11% y-y

Revenue development

[EUR m]

Organic RoCE as the key value metric typically amounts to ~2x WACC

RoCE and adjusted RoCE

Development of earnings-per-share (EPS) from continuing operations [EUR cent]

Total cash return to shareholders

• › Policy of sustainable dividend payout
• › Increase of dividend from €0.25 to €0.27*
• › Payment of €305m*
• * Proposal to the AGM to be held on 21 February 2019

Opex within target range

Selling, General & Administration* Research & Development** [EUR m]

* Target range for SG&A: "Low teens percentage of sales".

** Target range for R&D: "Low to mid teens percentage of sales". In FY18, reported R&D expenses amounted to €836m, net of €86m of grants received and net of €143m of capitalized development costs.

Inventories main driver for Working Capital increase

[days]

Trade receivables Trade payables

[EUR m]

[EUR m] [days]

Investments and D&A trending up due to strong growth

* For definition please see page "Notes".

Healthy gross cash and net cash position

Liquidity development

[EUR m]

• › Operating cash flow from continuing operations was €310m in Q1 FY 2019
• › Free Cash Flow from continuing operations was minus €221m

Infineon has a balanced maturity profile and a solid investment grade rating (BBB) from S&P

Maturity profile

[EUR m; US\$ m; nominal values]

Note: Additional debt with maturities between 2019 and 2023 totaling €47m of which €21m repayments related to Campeon.

Glossary (1 of 2)

AC	alternating current
AC-DC	alternating current - direct current
AD	automated driving
ADAS	advanced driver assistance system
AEB	automatic emergency braking
AI	artificial intelligence
AR	augmented reality
BEV	battery electric vehicle
BGA	ball grid array
BoM	bill of material
CPU	central processing unit
DC	direct current
DC-DC	direct current - direct current
DPM	digital power management
eCall	emergency call
ECU	electronic control unit

ECU	electronic control unit
EMU	electric multiple unit
EPS	electric power steering
eSIM	embedded subscriber identity module
eSIM	embedded SIM
EV	electric vehicle
FPGA	field programmable gate array
GPU	graphics processing unit
HEV	mild and full hybrid electric vehicle
HMI	human machine interaction
HSM	hardware security module
HST	high-speed train
HW	hardware
ICE	internal combustion engine
INV	in-vehicle networking

Glossary (2 of 2)

IPM	intelligent power module
iPol	image processing line
IRF	International Rectifier
LSEV	low-speed electric vehicle
LSPS	LS Power Semitech Co. Ltd.
µC	microcontroller
MEMS	micro electro-mechanical systems
MHA	major home appliances
MIMO	multiple input, multiple output
micro hybrid	vehicles using start-stop systems and limited recuperation
mild hybrid	vehicles using start-stop systems, recuperation, DC-DC conversion, e-motor
MOSFET	metal-oxide silicon field-effect transistor
OBC	on-board charger
OEM	original equipment manufacturer
PHEV	plug-in hybrid electric vehicle
Pol	point-of-load

PV	photovoltaic
RF	radio frequency
rhs	right-hand scale
Si	silicon
SiC	silicon carbide
SiGe	silicon germanium
SMPS	switch-mode power supply
SOTA	software over-the-air
SW	software
ToF	time-of-flight
TPM	trusted platform module
UPS	uninterruptible power supply
V2X	vehicle-to-everything communication
VR	virtual reality
VSD	variable speed drive
xEV	all degrees of vehicle electrification (EV, HEV, PHEV)

Disclaimer

Disclaimer

This presentation contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group.

These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business development may therefore differ materially from what has been expected.

Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements.

Specific disclaimer for IHS Markit reports, data and information referenced in this document

The IHS Markit reports, data and information referenced herein (the "IHS Markit Materials") are the copyrighted property of IHS Markit Ltd. and its subsidiaries ("IHS Markit") and represent data, research, opinions or viewpoints published by IHS Markit, and are not representations of fact. The IHS Markit Materials speak as of the original publication date thereof and not as of the date of this document. The information and opinions expressed in the IHS Markit Materials are subject to change without notice and neither IHS Markit nor, as a consequence, Infineon have a duty or responsibility to update the IHS Markit Materials or this presentation. Moreover, while the IHS Markit Materials reproduced herein are from sources considered reliable, the accuracy and completeness thereof are not warranted, nor are the opinions and analyses which are based upon it. IHS Markit and the trademarks used in the data, if any, are trademarks of IHS Markit. Other trademarks appearing in the IHS Markit Materials are the property of IHS Markit or their respective owners.

Infineon is a long-standing member of Europe's leading sustainability indices

Infineon's most recent achievements

• › Jan 2018: Infineon is listed in the Sustainability Yearbook for the 8th consecutive year and has received the Bronze Class distinction for its excellent sustainability performance.

• › Sep 2018: Infineon is listed in the Dow Jones Sustainability Europe Index (as the only semiconductor company) for the 9th consecutive year and in the World Index for the 4th time

• › Infineon was added to the FTSE4Good Index Series in 2001 and has been confirmed as a member since then

• › Jul 2018: Most recent review
• › Since 2014, Infineon has been publishing information on opportunities and risks due to climate change through the "Carbon Disclosure Project" (CDP).
• › For 2017, Infineon has earned a spot among the three best companies in the "Information Technology" sector in the Germany, Austria and Switzerland region.

› Sep 2018: Infineon has been reconfirmed as a constituent of the Ethibel Sustainability Index (ESI) Excellence Europe

Financial calendar

Date	Location	Event
21 Feb 2019	Munich	Annual General Meeting
25 – 27 Feb 2019	Barcelona	Mobile World Congress
14 Mar 2019	Paris	& Co. 4th Bryan, Garnier Annual Technology Conference
5 Apr 2019	Baden-Baden	Bankhaus Lampe Conference
7 May 2019*		Q2 FY19 Results
8 May 2019	Nuremberg	PCIM trade show; IPC Business Update by Dr. Peter Wawer, Division President IPC and Dr. Peter Friedrichs, Technology Development Silicon Carbide
4 Jun 2019	Milan	14th Equita European Conference
4 Jun 2019	Zurich	Berenberg Innovation Conference
5 Jun 2019	Berlin	Deutsche Bank German, Swiss & Austrian Conference
11 Jun 2019	Paris	21st Exane European CEO Conference
1 Aug 2019*		Q3 FY19 Results
29 Aug 2019	Frankfurt	Commerzbank Sector Conference
23 Sep 2019	Unterschleißheim (nearby Munich)	Berenberg Goldman Sachs German Corporate Conference
24 Sep 2019	Munich	Baader Investment Conference
7 - 8 Oct 2019	London	ATV Presentation by Peter Schiefer, Division President ATV
12 Nov 2019*		Q4 FY19 Results

* preliminary

Notes

• Investments = 'Purchase of property, plant and equipment' + 'Purchase of intangible assets and other assets' incl. capitalization of R&D expenses
• Capital Employed = 'Total assets' 'Cash and cash equivalents' 'Financial investments' 'Assets classified as held for sale – ('Total Current liabilities' – 'Short-term debt and current maturities of long-term debt' – 'Liabilities classified as held for sale')
• RoCE = NOPAT / Capital Employed = ('Income from continuing operations' – 'financial income' – 'financial expense') / Capital Employed
• Working Capital = ('Total current assets' 'Cash and cash equivalents' 'Financial investment' 'Assets classified as held for sale') ('Total current liabilities' – 'Short term debt and current maturities of long-term debt' – 'Liabilities classified as held for sale')

DOI (days of inventory; quarter-to-date) = ('Net Inventories' / 'Cost of goods sold') * 90

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

DSO (days sales outstanding; quarter-to-date) = ('Trade receivables' / 'revenue') * 90

Please note: All positions in ' ' refer to the respective accounting position and therefore should be applied with the positive or negative sign used in the relevant accounting table.

Institutional Investor Relations contacts

Alexander Foltin

Corporate Vice President Finance, Treasury & Investor Relations

+49 89 234-23766 alexander.foltin@infineon.com

Joachim Binder

Senior Director Investor Relations +49 89 234-25649 joachim.binder@infineon.com

Isabell Diel

Manager Investor Relations

+49 89 234-38297 isabell.diel@infineon.com

Alexander Groschke

Senior Manager Investor Relations

+49 89 234-38348 alexander.groschke@infineon.com

Holger Schmidt

Senior Manager Investor Relations

+49 89 234-22332 holger.schmidt@infineon.com