Infineon Technologies AG

Quarterly Report • May 7, 2024

Half-Year Financial Report 31 March 2024

Infineon Technologies AG

www.infineon.com

Content

Selected consolidated key data
Interim Group Management Report
Group performance in the first half of the 2024 fiscal year
Operating segment performance in the first half of the 2024 fiscal year 5
The Infineon share
Review of business environment
Review of results of operations
Review of financial condition
Review of liquidity
Employees
Outlook for the 2024 fiscal year
Risks and Opportunities

Consolidated Statement of Profit or Loss
Consolidated Statement of Comprehensive Income
Consolidated Statement of Financial Position
Consolidated Statement of Cash Flows
Consolidated Statement of Changes in Equity
Notes to the condensed Consolidated Interim Financial Statements 22
Responsibility Statement by the Management Board
Review Report
Supplementary Information
Financial Calendar………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

Selected consolidated key data

	2024		2023
First half of fiscal year	€ in million	in % of revenue	€ in million	in % of revenue	change in %4
Revenue by segment	7,334		8,071		(a)
Automotive	4,163	57	3,951	49	5
Green Industrial Power	956	13	1,058	13	(10)
Power & Sensor Systems	1,478	20	1,969	25	(25)
Connected Secure Systems	734	10	1,081	13	(32)
Other Operating Segments	3	0	12	0	(75)
Corporate and Eliminations
Selected results of operations key data
Gross profit/Gross margin	3,003	40.9	3,786	46.9	(21)
Research and development expenses	(1,000)	13.6	(971)	12.0	(3)
Selling, general and administrative expenses	(770)	10.5	(804)	10.0	4
Operating profit	1,198		2,039		(41)
Profit (loss) for the period	081		1,553		(37)
Segment Result/ Segment Result Margin	1,538	21.0	2,287	28.3	(33)
Basic earnings per share (in euro) from continuing operations	0.75		1.18		(36)
Diluted earnings per share (in euro) from continuing operations	0.75		1.18		(36)
Adjusted earnings per share (in euro) from continuing operations - diluted2	0.95		1.33		(29)

	€ in millions
First half of fiscal year	2024	2023	change in %1
Selected liquidity key data
Cash flows from operating activities from continuing operations	599	1,277	(23)
Cash flows from investing activities	(1,164)	(788)	(48)
Cash flows from financing activities	537	(491)	+++
Free Cash Flows	(1,516)	218
Depreciation and amortization	922	863	7
Investments4	1,297	1,171	11
€ in millions (unless otherwise stated)	As of 31 March 2024	As of 30 Sep- tember 2023	change in %4
Gross cash position3	2,583	3,590	(28)
Net cash position3	(3,358)	(1,143)
Selected financial condition key data
Total balance sheet	29,094	28,439	2
Total equity	17,202	17,044	1
Equity ratio in %5	59.1%	59.9%	bp (80)
Market capitalization6	40,885	40,879	0
Infineon employees (in total figures)	59,364	58,590	1

1 Percentage changes of more than +/-99.5% are shown as "+++" or "---" in the Half-Year Financial Report.

2 See the chapter "Review of results of operations" for definition.

3 See the chapter "Review of results of liquidity" for definition.

4 Capital expenditure: the total amount invested in property, plant and other intangible assets, including capitalized development expenses.

5 Equity ratio = Total equity/Total assets.

6 The calculation is based on unrounded figures. Own shares were not taken into consideration for calculation.

Interim Group Management Report

• Segment Result Margin in the first half of the 2024 fiscal year: 21.0 percent

• Adjusted outlook for the 2024 fiscal year:

  • Margin should be around 20 percent

  • Free Cash Flow expected to be at a level of zero

  • Return on capital employed (RoCE) forecast to be around 9 percent

"In the prevailing difficult market environment, Infineon delivered a solid second quarter," says Jochen Hanebeck, CEO of Infineon. "Many end markets have remained weak due to economic conditions, while customers and distributors have continued to reduce semiconductor inventory levels. Weak demand for consumer applications persists. There has also been a noticeable deceleration in growth in the automotive sector. We are therefore taking a cautious approach to the outlook for the rest of the fiscal year and are lowering our forecast. In the medium to long term, decarbonization and digitalization will continue to be strong structural drivers of our profitable growth."

Group performance in the first half of the 2024 fiscal year

C01

In the first half of the 2024 fiscal year, revenue decreased by €737 million to €7,334 million. Compared with revenue in the prior-year period of €8,071 million, this was a decline of 9 percent, resulting mainly from weak markets in consumer, communication, computing and loT applications and, in some cases, from reductions in selling prices.

On the other hand, revenue was positively affected by the increasing level of demand for components for electric vehicles and driver assistance systems in the reporting period. Currency effects, especially the weaker US dollar when compared with the prior-year period, had an adverse impact on revenue.

The Segment Result decreased by 33 percent, from €2,287 million in the first half of the 2023 fiscal year to €1,538 million in the first half of the 2024 fiscal year. In addition to the decline in volumes and prices, the significant increase in idle costs also contributed to this development.

The Segment Result Margin in the reporting period was 21.0 percent, compared with 28.3 percent in the first half of the 2023 fiscal year.

Operating segment performance in the first half of the 2024 fiscal year

Automotive

	First half		Change
€ in millions, except percentages	2024	2023	absolute	in %
Revenue	4,163	3,951	212	5
Share of Group Revenue	57%	49%
Segment Result	1,077	1,180	(103)	(9)
Share of Group Segment Result	70%	52%
Segment Result Margin	25.9%	29.9%	(400) bp

Revenue in the Automotive segment increased in the first half of the 2024 fiscal year to €4,163 million, from €3,951 million in the corresponding prior-year period. The primary reason for the 5 percent growth in revenue was the increasing level of demand for components for electric vehicles and driver assistance systems in the reporting period. The Segment Result in the first half of the current fiscal year was €1,077 million, a 9 percent decrease when compared with the figure for the prior-year period of €1,180 million. In addition to sales price reductions, this was primarily due to the increase in idle costs and negative effects from the valuation of inventories. The Segment Result Margin

in the first half of the 2024 fiscal year was 25.9 percent, compared with 29.9 percent in the first half of the 2023 fiscal year.

Green Industrial Power

(previously Industrial Power Control)

	First half		Change
€ in millions, except percentages	2024	2023	absolute	in %
Revenue	વેરિક	1,058	(102)	(10)
Share of Group Revenue	13%	13%
Segment Result	219	325	(106)	(33)
Share of Group Segment Result	14%	14%
Segment Result Margin	22.9%	30.7%	(780) bp

In the Green Industrial Power segment, revenue decreased by 10 percent, from €1,058 million in the first half of the 2023 fiscal year to €956 million in the first six months of the current fiscal year. The decline in revenue was the consequence of high inventory levels at direct customers and distributors and weaker demand in all application areas except electrically powered buses, trucks and trains. The Segment Result achieved in the first half of the current fiscal year was €219 million, a decrease of 33 percent when compared with the Segment Result in the first half of the 2023 fiscal year of €325 million. The

Segment Result Margin was 22.9 percent, compared with the figure for the prior-year period of 30.7 percent.

Power & Sensor Systems

	First half		Change
€ in millions, except percentages	2024	2023	absolute	in %
Revenue	1,478	1,969	(491)	(25)
Share of Group Revenue	20%	25%
Segment Result	163	498	(335)	(67)
Share of Group Segment Result	11%	22%
Segment Result Margin	11.0%	25.3%	(1,430) bp

Revenue and Segment Result of the Power & Sensor Systems segment C04 € in millions

In the first half of the 2024 fiscal year, revenue in the Power & Sensor Systems segment declined by 25 percent to €1,478 million, compared with €1,969 million in the same period in the previous fiscal year. The decrease in revenue was mainly the consequence of high inventory levels at direct customers and distributors and weak demand for components for PCs, laptops, USB controllers, consumer electronics, battery-powered devices and microinverters for roof-top solar systems. The Segment Result achieved in the first half of the current fiscal year was €163 million, a decrease of 67 percent when compared to the Segment Result of €498 million in the first six months of

the 2023 fiscal year. The Segment Result Margin was 11.0 percent, compared with 25.3 percent in the prior-year period.

Connected Secure Systems

€ in millions, except percentages	First half		Change
	2024	2023	absolute	in %
Revenue	734	1,081	(347)	(32)
Share of Group Revenue	10%	13%
Segment Result	79	280	(201)	(72)
Share of Group Segment Result	5%	12%
Segment Result Margin	10.8%	25.9%	(1,510) bp

Revenue in the Connected Secure Systems segment decreased in the first half of the 2024 fiscal year by 32 percent to €734 million, compared with €1,081 million in the corresponding prior-year period. Lower demand and adjustments made to inventory levels at distributors resulted in lower revenue. The Segment Result declined by 72 percent to €79 million in the first half of the 2024 fiscal year. In the corresponding prior-year period, the Segment Result was €280 million. In the first half of the current fiscal year, the Segment Result Margin achieved was 10.8 percent, compared with 25.9 percent in the first half of the prior fiscal year.

The Infineon share

The Infineon share price at the end of the first half of the 2024 fiscal year was €31.52, which was slightly above the Xetra closing price as of 30 September 2023 of €31.36.

Performance of the Infineon share compared with the DAX, the Philadelphia Semiconductor Index (SOX) and the Dow Jones US Semiconductor Index in the first half of the 2024 fiscal year (daily closing prices)

The significant increase in the US benchmark indices Philadelphia Semiconductor Index (SOX) and Dow Jones US Semiconductor Index was positively influenced by the good performance of individual technology shares in connection with artificial intelligence.

At the Annual General Meeting held on 23 February 2024, the Management Board and the Supervisory Board proposed the payment of a dividend of €0.35 per share for the 2023 fiscal year. The shareholders approved the proposal and an amount of €456 million was duly disbursed to them during the first half of the 2024 fiscal year.

On the final business day of the first half of the current fiscal year, the total number of Infineon shares issued was 1,305,921,137, unchanged from 30 September 2023. The figure includes 8,605,554 own shares (30 September 2023: 2,171,026), which are not entitled to dividend. As part of a limited share buyback program, Infineon bought back 7 million shares for a total purchase price of €233 million in the period from 26 February 2024 to 18 March 2024. The buyback served the sole purpose of allocating shares to employees of the company or affiliated companies, members of the Management Board of the company as well as members of the management board and the board of directors of affiliated companies as part of the existing employee participation programs.

Review of business environment

In the 2023 calendar year, there was a slowdown in global economic growth compared with the prior year. Nevertheless, at 2.7 percent, the level of growth was still close to the historical average, meaning that a global recession could be avoided (International Monetary Fund, World Economic Outlook, January 2024). The IMF is also currently forecasting growth of 2.7 percent for the 2024 calendar year, an increase of 0.3 percentage points since its Autumn 2023 forecast. Falling inflation rates mean that interest rate policy could reverse a little sooner than expected. Nevertheless, it is assumed that the high interest rates in the 2024 calendar year will continue to have a dampening effect on the economy. Moreover, geopolitical risks and their potential for escalation remain high. The overall prospects for the 2024 calendar year have improved somewhat, yet the pace of economic expansion is likely to be moderate. According to the latest forecast from the International Monetary Fund, there will be economic growth in the 2025 calendar year of 2.7 percent. The growth figures are based on market parameters measured in terms of US dollars using market exchange rates.

Demand for semiconductors fell in the 2023 calendar year. According to World Semiconductor Trade Statistics (WSTS), the global semiconductor market shrank by 8 percent in the 2023 calendar year compared with the prior year. In contrast, Infineon's reference market (i.e. the semiconductor market excluding DRAM and NAND flash memory chips and microprocessors) contracted by only 1 percent in US dollar terms in the 2023 calendar year (WSTS, 4th Quarter 2023 Forecast Update, February 2024).

For the 2024 calendar year, WSTS is forecasting growth in Infineon's reference market of 9 percent compared with the 2023 calendar year. Current forecasts for Infineon's reference market are for growth of between 7 and 10 percent. TechInsights is also expecting 9 percent growth in the 2024 calendar year, while Gartner is assuming growth of 7 percent and Omdia is forecasting 10 percent growth (based on information from Omdia, AMFT Shipment – World & Regions – 1Q24 Update, March 2024; Gartner, Semiconductor Forecast Database, Worldwide, 1Q24 Update, March 2024; TechInsights, Semiconductor Forecast, March 2024). The growth forecasts for the 2025 calendar year for Infineon's reference market are currently between 6 percent (WSTS) and 15 percent (TechInsights).

Review of results of operations

	First half		Change
€ in millions, except earnings per share	2024	2023	absolute	in %
Revenue	7,334	8,071	(737)	(ਰ)
Cost of goods sold	(4,331)	(4,285)	(46)	(1)
Gross profit	3,003	3,786	(783)	(21)
Research and development expenses	(1,000)	(971)	(29)	(3)
Selling, general and administrative expenses	(770)	(804)	34	4
Other operating income and expenses, net	(35)	28	(63)
Operating profit	1,198	2,039	(841)	(41)
Financial result (financial income and expenses, net)	13	(41)	54	+++
Share of profit (loss) of associates and joint ventures accounted for using the equity method	7	11	(4)	(36)
Income taxes	(226)	(454)	228	50
Profit (loss) from continuing operations	992	1,555	(263)	(36)
Profit (loss) from discontinued operations, net of income taxes	(11)	(2)	(9)
Profit (loss) for the period	981	1,553	(572)	(37)
Basic earnings per share (in euro) from continuing operations	0.75	1.18	(0.43)	(36)
Diluted earnings per share (in euro) from continuing operations	0.75	1.18	(0.43)	(36)
Adjusted earnings per share (in euro) from continuing operations - diluted	0.95	1.33	(0.38)	(29)

Weak market environment and negative currency effects have resulted in lower revenue

Infineon's revenue in the first half of the 2024 fiscal year decreased by €737 million or 9 percent to €7,334 million, from €8,071 million in the first half of the 2023 fiscal year. The decline in revenue resulted mainly from weak markets in consumer, communication, computing and loT applications and, in some

cases, from reductions in selling prices. Moreover, negative currency effects, especially the weaker US dollar when compared with the prior-year period, resulted in a reduction in revenue.

The average euro/US dollar exchange rate was 1.08 compared with 1.05 in the corresponding period in the prior fiscal year.

There were differing revenue trends in the various operating segments. Further information about the revenue and earnings of the segments is provided under the heading "Performance of the operating segments in the first half of the 2024 fiscal year". For information on revenue by product category, see note 11 to the Consolidated Interim Financial Statements.

Regional distribution of revenue

At €2,463 million or 33 percent (October 2022 – March 2023: 32 percent), the Greater China region (Mainland China, Hong Kong and Taiwan) accounted for around one third of revenue in the first half of the 2024 fiscal year, followed by the Europe, Middle East and Africa region with €1,951 million or 27 percent (October 2022 – March 2023: 26 percent). The Asia-Pacific region accounted for €1,170 million or 16 percent (October 2022 – March 2023: 16 percent) and the Americas region €1,012 Millionen or 14 percent (October 2022 - March 2023: 15 percent). For information on revenue by region, see also note 11 to the Consolidated Interim Financial Statements.

Higher idle costs have an impact on cost of goods sold

The cost of goods sold fell by 1 percent to €4,331 million in the reporting period (October 2022 – March 2023: €4,285 million). Lower sales volumes and positive currency effects led to a decrease in the cost of goods sold. However, the increase in idle costs and negative effects from the valuation of inventories had the opposite effect.

Cost of goods sold also includes amortization of other intangible assets and depreciation of property, plant and equipment based on purchase price allocations measured at fair value as well as other acquisition-related expenses totaling €136 million (October 2022 - March 2023: €144 million).

Gross profit (revenue less cost of goods sold) for the first half of the 2024 fiscal year amounted to €3,003 million, 21 percent below the figure for the prior-year period of €3,786 million.

The gross margin decreased accordingly, from 46.9 percent in the first half of the 2023 fiscal year to 40.9 percent in the reporting period.

	First half		Change
€ in millions, except percentages	2024	2023	absolute	in %
Cost of goods sold	4,331	4,285	46	1
As percentage of revenue	59.1%	53.1%	600 bp
Gross profit	3,003	3,786	(783)	(21)
Gross margin	40.9%	46.9%	-600 bp

Operating costs on par with the prior-year

At €1,770 million in the first half of the 2024 fiscal year, operating costs, consisting of research and development costs as well as selling expenses and general administrative costs, were on a par with the prior-year (October 2022 – March 2023: €1,775 million). The ratio of operating costs to revenue was therefore 24.1 percent (October 2022 - March 2023: 22.0 percent).

Research and development expenses rose slightly, from €971 million in the first half of the 2023 fiscal year to €1,000 million in the first half of the 2024 fiscal year, mainly reflecting the increased size of the workforce in this area. A total of 13,194 employees were working in various research and development functions at 31 March 2024 (31 March 2023: 12,430). The ratio of research and development expenses to revenue increased from 12.0 percent in the first half of the 2023 fiscal year to 13.6 percent in the reporting period.

	First half		Change
€ in millions, except percentages	2024	2023	absolute	in %
Research and development expenses	1,000	971	29
As percentage of revenue	13.6%	12.0%	160 bp

Selling, general and administrative expenses fell by €34 million in the reporting period, from €804 million in the first half of the 2023 fiscal year to €770 million

in the first half of the current fiscal year. One of the factors contributing to this was the lower provision being set aside for variable remuneration.

The ratio of selling, general and administrative expenses to revenue for the first half of the 2024 fiscal year of 10.5 percent was slightly higher than the figure for the first half of the 2023 fiscal year of 10.0 percent. The earnings impact of purchase price allocations and acquisition-related expenses included therein was €76 million in the reporting period (October 2022 – March 2023: €88 million).

	First half		Change
€ in millions, except percentages	2024	2023	absolute	in %
Selling, general and administrative expenses	770	804	(34)	4)
As percentage of revenue	10.5%	10.0%	50 bp

Net amount of other operating income and expenses

The net amount of operating income and expenses in the first half of the 2024 fiscal year was a net expense of €35 million (October 2022 – March 2023: net income of €28 million). Included in other operating expenses is an impairment loss of €37 million recognized as a result of a write-down of assets in connection with the planned sale of two backend manufacturing sites in Cheonan (South Korea) and Cavite (Philippines). See also note 4 to the Consolidated Interim Financial Statements. Moreover, the figure for the prior-year period was positively impacted by income from the sale of the HiRel DC-DC converter business to Micross Components, Inc. ("Micross").

Financial result

The change in the financial result, from a net loss of €41 million in the first half of the 2023 fiscal year to a net gain of €13 million in the reporting period was mainly due to an increase in interest income as a result of higher interest rates. In addition, the figure for the reporting period includes interest income of €32 million in connection with the release of a tax risk provision. Interest expenses from financing arrangements, on the other hand, slightly increased.

Effective tax rate down to 18.6 percent

The income tax expense in the first half of the 2024 fiscal year was €226 million (October 2022 - March 2023: €454 million). The decrease in the income tax expense was mainly attributable to the lower level of profit before income taxes. The tax result also includes tax income of €33 million from the reversal of a tax risk provision. In relation to profit before income taxes of €1,218 million (October 2022 – March 2023: €2,009 million), the effective tax rate for the reporting period was 18.6 percent (October 2022 - March 2023: 22.6 percent).

Decrease of profit for the period and thus of earnings per share

After deducting the income tax expense and the loss from discontinued operations of €11 million (October 2022 – March 2023: loss from discontinued operations of €2 million), Infineon is reporting a profit for the first half of the 2024 fiscal year of €981 million (October 2022 – March 2023: €1,553 million).

The lower profit for the period resulted in a corresponding decrease in earnings per share.

Basic and diluted earnings per share for the first half of the 2024 fiscal year stood at €0.74 (October 2022 - March 2023: €1.18).

Adjusted earnings per share decreased

Earnings per share in accordance with IFRS is influenced by amounts relating to purchase price allocations for acquisitions (in particular Cypress) and by other exceptional items. To enable better comparability of operating performance over time, Infineon calculates adjusted earnings per share (diluted) as follows:

€ in millions (unless otherwise stated)		First half		Change
		2023	absolute	in %
Profit (loss) from continuing operations - diluted	992	1,555	(୧୧3)	(36)
Compensation of hybrid capital investors2	(15)	(15)
Profit (loss) from continuing operations attributable to shareholders of Infineon Technologies AG – diluted	977	1,540	(563)	(37)
Plus/minus:
Certain impairments (reversal of impairments)	37		37	+++
Losses (gains) on earnings of restructuring and closures	13		13	+++
Share-based payment	60	34	26	76
Acquisition-related depreciation/amortization and other expenses	216	244	(28)	(11)
Losses (gains) on sales of businesses, or interests in subsidiaries		(30)	30	+++
Other income and expenses	14		14	+++
Acquisition-related expenses within financial result		1	(1)
Tax effect on adjustments	(76)	(57)	(19)	(33)
Adjusted profit (loss) for the period from continuing operations attributable to shareholders of Infineon Technologies AG - diluted	1,241	1,732	(491)	(28)
Weighted-average number of shares outstanding (in millions) - diluted	1,307	1,305	2	0
Adjusted earnings per share (in euro) from continuing operations - diluted2	0.95	1.33	(0.38)	(29)

1 Including the cumulative tax effect.

2 The calculation of the adjusted earnings per share is based on unrounded figures.

Adjusted profit (loss) for the period and adjusted earnings per share (diluted) should not be seen as a replacement or superior performance indicator, but rather as additional information to the profit (loss) for the period and earnings per share (diluted) determined in accordance with IFRS.

Review of financial condition

			Change
€ in millions	31 March 2024	30 Septem- ber 2023	absolute	in %
ASSETS
Cash and cash equivalents and financial investments	2,583	3,590	(1,007)	(28)
Trade receivables	2,000	1,991	9	0
Inventories	4,404	3,974	430	11
Property, plant and equipment	7,532	7,045	487	7
Goodwill	7,030	6,547	483	7
Other intangible assets	3,002	2,977	25	1
Remaining current and non-current assets	2,543	2,315	228	10
Total assets	29,094	28,439	୧୧୧	2
LIABILITIES AND EQUITY
Trade payables	2,003	2,765	(762)	(28)
Other current liabilities	1,160	1,186	(26)	(2)
Financial debt	5,941	4,733	1,208	26
Provisions	799	1,099	(300)	(27)
Remaining current and non-current liabilities	1,989	1,612	377	23
Equity	17,202	17,044	158	1
Total liabilities and equity	29,094	28,439	୧୧୧	2

Sale of financial investments

Financial investments as of 31 March 2024 have decreased since the year-end by €973 million to €797 million mainly as a result of sales (30 September 2023: €1,770 million). Details on the use of the liquid funds released from the sale of financial investments are provided in the Statement of Cash Flows. See also the chapter "Review of liquidity".

Increase in inventories has slowed considerably

Inventories, and in particular work in progress, increased by €430 million to €4,404 million as of 31 March 2024 (30 September 2023: €3,974 million),

although the rate of increase in inventories in the second quarter slowed considerably when compared with the first quarter of the reporting period.

Increase in property, plant and equipment as a result of investments

Property, plant and equipment increased by €487 million to €7,532 million as of 31 March 2024. Additions of €1,156 million were set against depreciation and negative currency effects totaling €636 million. A further €33 million related to the reclassification of property, plant and equipment as assets held for sale. See also note 4 to the Consolidated Interim Financial Statements.

More information about investments in the first half of the 2024 fiscal year can be found in the chapter "Review of liquidity".

Acquisition-related increase in goodwill and other intangible assets

Goodwill increased by €483 million to €7,030 million as of 31 March 2024. The increase was mainly the result of the acquisition of all shares in GaN Systems Inc. ("GaN Systems") headquartered in Ottawa (Canada). As a result of the purchase price allocation, goodwill was recognized at the acquisition date of €599 million, an amount originally denominated in US dollars. Set against this increase in goodwill were negative currency effects of €138 million arising mainly from the weaker US dollar at 31 March 2024 compared with 30 September 2023. More information about the acquisition is provided in note 2 to the Consolidated Interim Financial Statements.

Other intangible assets rose by €25 million to €3,002 million. Additions arising from the acquisition of GaN Systems and various other additions – mainly for capitalized development costs – of €341 million in total were set against amortization of €264 million and negative currency effects of €43 million.

Decrease in provisions primarily as a result of payment of variable remuneration

Provisions fell by €300 million. The decrease was mainly due to the payments made for the prior year relating to performance-based employee remuneration.

Assumption of financial debt

Financial debt increased by €1,208 million compared with the figure at 30 September 2023. This was due mainly to the utilization of credit lines (as per 31 March 2024, the facilities have been drawn in the amount of €750 million) and the issue of a €500 million corporate bond under the EMTN (European Medium Term Notes) program. In contrast, the weaker US dollar at 31 March 2024 compared with 30 September 2023 had the effect of reducing the figure for financial debt. More details about financial debt are provided in note 5 to the Consolidated Interim Financial Statements.

Remaining current and non-current liabilities

The increase in remaining current and non-current liabilities mainly resulted from advance payments from customers amounting to over half a billion euros.

Equity up mainly due to profit for the period

Equity increased by €158 million to €17,202 million as of 31 March 2024, mainly due to the profit for the period achieved in the first half of the 2024 fiscal year of €981 million. Other items reducing equity were the payment of the dividend for the 2023 fiscal year of €456 million and the purchase of own shares as part of a limited share buyback program. In the period from 26 February 2024 to 18 March 2024, Infineon bought back 7 million shares at a total price of €233 million, see also note 7 to the Consolidated Interim Financial Statements. Currency effects of €194 million recognized in other comprehensive income, primarily attributable to the weaker US dollar against the euro, also reduced equity.

The equity ratio at 31 March 2024 fell to 59.1 percent (30 September 2023: 59.9 percent).

Review of liquidity

Cash Flow

	First natr		Change
€ in millions	2024	2023	absolute	in %
Cash flows from operating activities from continuing operations	599	1,277	(678)	(53)
Cash flows from investing activities	(1,164)	(788)	(376)	(48)
Cash flows from financing activities	537	(491)	1,028	+++
Net change in cash and cash equivalents from	(1)	(1)
Net change in cash and cash equivalents	(29)	(3)	(26)
Exchange rate effects on cash and cash equivalents	(5)	(12)	7	28
Change in cash and cash equivalents	(34)	(15)	(19)

Cash flows from operating activities from continuing operations decreased in the reporting period by €678 million to €599 million.

The reduction was due, on the one hand, to the profit for the period being €572 million lower than that for the comparable prior-year period. Moreover, funds totaling €1,505 (October 2022 – March 2023: €1,183 million) were tied up through the build-up of inventories, trade receivables, the repayment of trade payables and provisions.

Advance payments received from customers in the reporting period of around half a billion euros had a positive impact on cash flows from operating activities.

Cash outflows from investing activities increased by €376 million to €1,164 million compared with the prior-year period. This was the result of the net purchase price payment for the acquisition of GaN Systems of €769 million, see also note 2 to the Consolidated Interim Financial Statements. In addition, there was an increase of €104 million in investments in property, plant and equipment compared with the prior-year period. Investments in the first half of 2024 continued to focus on the expansion of frontend manufacturing in Kulim (Malaysia), Villach (Austria) and Dresden (Germany). The sale of financial

investments during the reporting period had a positive effect on cash flows from investing activities of €951 million (October 2022 – March 2023: €271 million).

Cash flows from financing activities increased by €1,028 million in comparison with the prior-year period. In the half-year to 31 March 2024, there were cash inflows from financing activities of €537 million (October 2022 – March 2023: cash outflows of €491 million). Set against cash inflows from the assumption of current and non-current financial debt in the reporting period totaling €1,250 million (October 2022 – March 2023: €1 million net repayment) were dividend payments of €456 million (October 2022 – March 2023: €417 million) and payments for the buyback of own shares of €233 million, see also notes 5 and 7 to the Consolidated Interim Financial Statements.

Free cash flow

Infineon reports the free cash flow figure, defined as cash flows from operating activities and cash flows from investing activities, both from continuing operations, after adjusting for cash flows related to the purchase and sale of financial investments. Free cash flow serves as an additional performance indicator, since Infineon holds part of its liquidity in the form of financial investments. This does not mean that the free cash flow calculated in this way is available to cover other disbursements, since dividends, debt-servicing obligations and other fixed disbursements are not deducted. Free cash flow should not be seen as a replacement or superior performance indicator, but rather as an additional useful item of information over and above the disclosure of the cash flow reported in the Consolidated Statement of Cash Flows, and as a supplementary disclosure to other liquidity performance indicators as well as other performance indicators derived from the IFRS figures. Free cash flow is derived as follows from the Consolidated Statement of Cash Flows:

	First half		Change
€ in millions	2024	2023	absolute	in %
Cash flows from operating activities2	ਦਰਖੇ	1,277	(678)	(53)
Cash flows from investing activities1	(1,164)	(788)	(376)	(48)
Purchases of (proceeds from sales of) financial investments, net	(951)	(271)	(680)
Free Cash Flow	(1,516),	218	(1,734)

1 From continuing operations.

Gross cash position and net cash position

The following table reconciles the gross cash position and the net cash position. Since some liquid funds are held in the form of financial investments, which, for IFRS purposes, are not considered to be cash and cash equivalents, Infineon reports on its gross and net cash positions in order to provide investors with a more detailed understanding of its overall liquidity situation. The gross and net cash positions are determined as follows from the Consolidated Statement of Financial Position:

		30 Septem- ber 2023	Change
€ in millions	31 March 2024		absolute	in %
Cash and cash equivalents	1,786	1,820	(34)	(2)
Financial investments	797	1,770	(973)	(25)
Gross cash position	2,583	3,590	(1,007)	(28)
Minus:
Short-term financial debt and current portion of	1,573	330	1,243	+++
Long-term financial debt	4,368	4,403	(35)	(1)
Gross financial debt	5,941	4,733	1,208	26
Net cash position	(3,358)	(1,143)	(2,215)

Investment grade rating upgraded by S&P Global Ratings

In February 2024, S&P Global Ratings upgraded Infineon's investment grade rating from "BBB" with a positive outlook to "BBB+" with a stable outlook.

Employees

The number of employees at Infineon increased to 59,364 as of 31 March 2024. The following table shows the composition of the Infineon workforce by region at the relevant reporting dates:

			Change
	31 March 2024	30 September 2023	absolute	in %
Europe, Middle East, Africa	24,778	24,043	735	3
therein: Germany	15,243	14,813	430	3
Asia-Pacific (excluding Japan, Greater China)	25,627	25,627
Greater China1	3,030	3,029	1	0
therein: Mainland China, Hong Kong	2,553	2,610	(57)	(2)
Japan	684	678	6	1
Americas	5,245	5,213	32	1
therein: USA	3,720	3,721	(1)	(0)
Total	59,364	58,590	774	1

1 Greater China comprises Mainland China, Hong Kong and Taiwan.

Outlook for the 2024 fiscal year

Due to prolonged weak demand in major target markets as well as ongoing destocking at direct customers and distributors Infineon adjusted its outlook for the 2024 fiscal year compared to the information provided in the Group's interim statement for the first quarter of the current fiscal year.

Based on an assumed exchange rate of US\$1.10 to the euro (previously US\$1.05), the revenue forecast for the 2024 fiscal has been revised from €16.0 billion (plus or minus €500 million) to €15.1 billion (plus or minus €400 million)1.

Accordingly, the forecast for the revenue development of the segments has also changed. In the Automotive segment, revenue growth in the low to mid-singledigit percentage range is now expected. The decrease in revenue in the Green Industrial Power segment in comparison with the prior fiscal year is expected to be a low-teens percentage figure. The decline in revenue in Power & Sensor Systems is forecast to be in the high-teens and in the Connected Secure Systems segment in the low twenties percentage range.

At the mid-point of the guided revenaue range, the Segment Result Margin is now expected to be around 20 percent (previously low to mid-twenties percentage range)2.

Investments - which Infineon defines as the sum of investments in property, plant and equipment, investments in other intangible assets and capitalized development costs – are now being slightly adjusted to a figure of about €2.8 billion (previously about €2.9 billion) for the 2024 fiscal year . The focus here will be investments in the manufacturing module at the Kulim site (Malaysia), which is designed to produce compound semiconductors, as well as the manufacturing module in Dresden (Germany), designed to produce analog/mixed-signal components.

Depreciation and amortization are anticipated to be around €1.9 billion in the 2024 fiscal year, of which around €400 million is attributable to amortization of purchase price allocations arising mainly from the acquisition of Cypress .

Free Cash Flow should be around €0 million (previously €200 million)5.

Return on Capital Employed (RoCE) is now forecast to reach around 9 percent (previously around 11 percent)6.

Risks and Opportunities

Many opportunities arise for Infineon in the course of its entrepreneurial activities, given its international positioning and broad product portfolio, but at the same time it is exposed to numerous risks. Coordinated risk management and control systems are in place to identify relevant risks and opportunities at an early stage and manage them successfully. Risk management at Infineon is integrated into the Group's planning systems, playing a key role in all decisions and business processes. As such, it is a vital aspect of securing lasting success for the enterprise as a whole.

Specific risks that could have a materially adverse impact on Infineon's financial condition, liquidity and results of operations, as well as specific opportunities and the concept behind Infineon's risk management system, are described in the Group Management Report for the 2023 fiscal year (pages 65 to 78).

Infineon has not identified any material changes in the first half of the 2024 fiscal year beyond the risks and opportunities presented in the 2023 Annual Report. Only the classification of the risk sub-category "Risks relating to the areas of cyber security, information security and IT security" has changed from (C) to (B). Further risks – of which Infineon is not currently aware or which are not presently considered material – could also have an adverse impact on Infineon's business activities going forward. At the date of this report, Infineon is not aware of any risks that could jeopardize its going-concern status.

¹ In the forecast report of the 2023 Annual Report, revenue of €17 billion (plus or minus €500 million) was expected for the 2024 fiscal year.

² In the forecast report of the 2023 Annual Report, a Segment Result Margin of around 24 percent was expected for the 2024 fiscal year.

³ In the forecast report of the 2023 Annual Report, investments for the 2024 fiscal year were forecast to be around €3.3 billion.

⁴ In the forecast report of the 2023 Annual Report, depreciation and amortization were anticipated to be €2.1 billion for the 2024 fiscal year.

⁵ In the forecast report of the 2023 Annual Report, the Free Cash Flow for the 2024 fiscal year was forecast to be €400 million.

⁶ In the forecast report of the 2023 Annual Report, a RoCE of 13 percent was expected for the 2024 fiscal year.

Consolidated Statement of Profit or Loss

		First half		Change
€ in millions	Note	2024	2023	absolute	in %
Revenue	11	7,334	8,071	(737)	(9)
Cost of goods sold		(4,331)	(4,285)	(46)	(1)
Gross profit		3,003	3,786	(783)	(21)
Research and development expenses		(1,000)	(971)	(29)	(3)
Selling, general and administrative expenses		(770)	(804)	34	4
Other operating income		36	79	(43)	(54)
Other operating expenses		(1)	(51)	(20)	(39)
Operating profit		1,198	2,039	(841)	(41)
Financial income		70	37	33	89
Financial expenses		(57)	(78)	21	27
Share of profit (loss) of associates and joint ventures accounted for using the equity method			11	(4)	(36)
Profit (loss) from continuing operations before income taxes		1,218	2,009	(791)	(39)
Income taxes	3	(226)	(454)	228	50
Profit (loss) from continuing operations		992	1,555	(563)	(36)
Profit (loss) from discontinued operations, net of income taxes	4	(11)	(2)	(9)
Profit (loss) for the period		081	1,553	(572)	(37)
Attributable to:
Shareholders and hybrid capital investors of Infineon Technologies AG		081	1,553	(572)	(37)
Basic/diluted earnings per share (in euro) attributable to shareholders of Infineon Technologies AG:1
Basic/diluted earnings per share (in euro) from continuing operations		0.75	1.18	(0.43)	(36)
Basic/diluted earnings per share (in euro) from discontinued		(0.01)		(0.01)
Basic/diluted earnings per share (in euro)		0.74	1.18	(0.44)	(37)

1 The calculation of earnings per share is based on unrounded figures.

Consolidated Statement of Comprehensive Income

		First half	Change
€ in millions	2024	2023	absolute	in %
Profit (loss) for the period	981	1,553	(572)	(37
Actuarial gains (losses) on pensions and similar commitments	(14)	1	(15)
Total items that will not be reclassified subsequently to profit or િકડ	(14)	1	(15)
Exchange rate effects	(194)	(928)	734	79
Net change in fair value of hedging instruments			5	+++
Cost of hedging		(4)	10	+++
Total items that may be reclassified subsequently to profit or loss	(181)	(930)	749	81
Other comprehensive income (loss), net of tax	(195)	(929)	734	79
Total comprehensive income (loss), net of tax	786	624	162	26
Attributable to:
Shareholders and hybrid capital investors of Infineon Technologies AG	786	624	162	26

Consolidated Statement of Financial Position

			Change
Note	31 March	30 Sep-
	2024	tember	absolute	in %
€ in millions		2023
ASSETS
Cash and cash equivalents	1,786	1,820	(34)	(2)
Financial investments	797	1,770	(973)	(55)
Trade receivables	2,000	1,991	9	0
Inventories	4,404	3,974	430	11
Current income tax receivables	50	63	(13)	(21)
Contract assets	108	115	(7)	(6)
Other current assets	1,046	ರ್ತಿರಿ	87	9
Assets classified as held for sale 4	57		57	+++
Total current assets	10,248	10,692	(444)	(4)
Property, plant and equipment2	7,532	7,045	487	7
Goodwill	7,030	6,547	483	7
Other intangible assets	3,002	2,977	25	1
Right-of-use assets	399	405	(6)	(1)
Investments accounted for using the equity	116	114	2	2
method
Non-current income tax receivables	2	2
Deferred tax assets	271	268	3	1
Other non-current assets	494	389	105	27
Total non-current assets	18,846	17,747	1,099	6
Total assets	29,094	28,439	୧୧୧	2

31 March Note 30 Sep- tember absolute in % 2024 € in millions 2023 LIABILITIES AND EQUITY Short-term financial debt and current portion 5 1,573 330 +++ 1,243 of long-term financial debt Trade payables 2,765 (762) 2,003 (28) Current provisions 6 473 799 (326) (41) Current income tax payables 277 418 (141) (34) Current lease liabilities 73 72 1 1 Current contract liabilities2 119 gg 20 20 Other current liabilities2 (2) 1,160 1,186 (26) 4 Liabilities classified as held for sale 24 24 +++ Total current liabilities 5,669 1 5,702 33 5 Long-term financial debt (1) 4,368 4,403 (35) Pensions and similar commitments 3 8 276 268 8 Deferred tax liabilities 275 254 21 6 9 Other non-current provisions 26 326 300 Non-current lease liabilities 309 (7) (2) 302 Non-current contract liabilities2 29 61 +++ 90 Other non-current liabilities2 +++ 553 163 390 Total non-current liabilities 8 6,190 5,726 464 4 Total liabilities 11,892 11,395 497 7 Equity: Ordinary share capital 2,612 2,612 Additional paid-in capital 1 6,737 6,684 53 Retained earnings 6,695 6,204 8 491 Other reserves 173 354 (181) (51) (13) (225) Own shares (238) 2 Hybrid capital 1,223 1,203 20 1 Total equity 17,202 17,044 158 2 Total liabilities and equity 29,094 28,439 655			Change

1 Property, plant and equipment includes assets with a carrying amount of €126 million that were pledged as collateral for advance payments received in the reporting period.

2 Due to the increasing significance of contract liabilities for the financial position, these are now presented ine item in the statement of financial position (but were previously included under other current liabilities). The prior year was adjusted accordingly.

Consolidated Statement of Cash Flows

		First half		Change
€ in millions	Note	2024	2023	absolute	in %
Profit (loss) for the period		981	1,553	(572)	(37)
Plus: profit (loss) from discontinued operations, net of			2
income taxes	4	11		9	+++
Adjustments to reconcile profit (loss) for the period to cash
flows from operating activities:
Depreciation and amortization		922	863	59	7
Income taxes	3	226	454	(228)	(50)
Interest result		9	51	(48)	(84)
Losses (gains) on disposals of property, plant and		1	(16)	23	+++
equipment and intangible assets
Losses (gains) from sales of businesses, interests in			(30)	30	+++
subsidiaries and investments
Dividends received		4	7	(3)	(43)
Impairments (reversals of impairments)	4	40	15	25	+++
Share-based payment		60	34	26	76
Other non-cash result		17	(16)	33	+++
Change in trade receivables		(7)	(145)	138	ે 5
Change in inventories		(443)	(567)	124	22
Change in trade payables		(749)	(128)	(621)
Change in provisions		(306)	(343)	37	11
Change in other assets and other liabilities		184	(174)	358	+++
Interests received		41	23	18	78
Interests paid		(52)	(49)	(3)	(6)
Income taxes paid		(346)	(263)	(83)	(32)
Cash flows from operating activities from continuing
operations		599	1,277	(678)	(23)
Cash flows from operating activities from discontinued
operations		(1)	(1)
Cash flows from operating activities		598	1,276	(678)	(23)

		First half		Change
€ in millions	Note	2024	2023	absolute	in %
Payments for the acquisition of financial investments		(3,752)	(2,624)	(1,128)	(43)
Proceeds from sales offinancial investments		4,703	2,895	1,808	62
Payments for the acquisition of subsidiaries or other businesses, net of cash acquired	2	(802)		(802)
Proceeds from sales of subsidiaries or other business, net of cash disbursed			92	(92)
Payments for the acquisition of interests in other not consolidated companies, associated companies and joint ventures		(21)	(2)	(19)
Payments for the acquisition of other intangible assets and other assets		(141)	(119)	(22)	(18)
Payments for the acquisition of property, plant and equipment		(1,156)	(1,052)	(104)	(10)
Proceeds from sales of property, plant and equipment and other assets		5	22	(17)	(77)
Cash flows from investing activities from continuing
operations		(1,164)	(788)	(376)	(48)
Issuance of short-term financial debt	5	1,100		1,100	+++
Repayments of short-term financial debt	5	(350)		(350)
Net change in related party financial receivables and payables		12		12	+++
Issuance of long-term financial debt	5	500		500	+++
Repayments of long-term financial debt	5		(1)	1	+++
Payments for lease liabilities		(36)	(48)	12	25
Payments for other financial liabilities			(25)	25	+++
Payments for the acquisition of own shares	7	(233)		(233)
Dividend payments	7	(456)	(417)	(39)	(a)
Cash flows from financing activities from continuing		537	(491)	1,028	+++
operations
Net change in cash and cash equivalents		(29)	(3)	(26)
Exchange rate effects on cash and cash equivalents		(5)	(12)	7	58
Cash and cash equivalents at beginning of period		1,820	1,438	382	27
Cash and cash equivalents at end of period		1,786	1,423	363	26

Consolidated Statement of Changes in Equity

For the first half of the 2024 fiscal year

					Other reserves
€ in millions	Note	Share capital	Capital reserves	earnings	Retained Exchange rate effects	Hedges	Cost of hedging	Own shares	Equity attributable to share- holders of Infineon Technologies AG	Equity attributable to hybrid capital investors	Total equity
Balance as of 1 October 2023	7	2,612	6,684	6,204	342	16	(4)	(13)	15,841	1,203	17,044
Total comprehensive income (loss), net of tax
Profit (loss) for the period				961					ਰੇਵਾ	20	981
Other comprehensive income (loss), net of tax				(14)	(194)	7	6		(195)	-	(195)
Total comprehensive income (loss), net of tax				947	(194)	7	6		766	20	786
Transactions with shareholders
Contributions by and distributions to shareholders
Dividends				(456)					(456)		(456)
Share-based payment			60						60		60
Settlement of share-based payment			(12)					12
Disposal (purchase) of own shares								(237)	(237)		(237)
Other contributions and distributions			ട						5		5
Total contributions by and distributions to shareholders			23	(456)				(225)	(628)		(628)
Total transactions with shareholders			23	(456)				(225)	(628)		(628)
Balance as of 31 March 2024		2,612	6,737	6,695	148	23	2	(238)	15,979	1,223	17,202

Consolidated Statement of Changes in Equity

For the first half of the 2023 fiscal year

			Capital reserves	earnings	Other reserves
€ in millions	Note	Share capital			Retained Exchange rate effects	Hedges	Cost of hedging	Equity attributable to share- holders of Infineon Technologies AG Own shares	Equity attributable to hybrid capital investors	Total equity
Balance as of 1 October 2022	7	2,612	6,579	3,506	1,060	7		(23)	13,741	1,203	14,944
Total comprehensive income (loss), net of tax
Profit (loss) for the period				1,533					1,533	20	1,553
Other comprehensive income (loss), net of tax				I	(928)	2	(4)		(929)	-	(929)
Total comprehensive income (loss), net of tax				1,534	(928)	2	(4)		604	20	624
Transactions with shareholders
Contributions by and distributions to shareholders
Dividends				(417)					(417)		(417)
Share-based payment1			34						34		34
Settlement of share-based payment²			(3)					3
Other contributions and distributions			5						5		5
Total contributions by and distributions to shareholders			36	(417)				ਤੇ	(378)		(378)
Total transactions with shareholders			૩૯	(417)				ਤੇ	(378)		(378)
Balance as of 31 March 2023		2,612	6,615	4,623	132	ರಿ	(4)	(20)	13,967	1,223	15,190

1 The settlement of spreed separately from the 2024 fiscal year. The presentation in the Consolidated Statement of Charge in Englished accordingly,

Notes to the condensed Consolidated Interim Financial Statements

1 Basis of Presentation

The condensed Consolidated Interim Financial Statements of the Infineon Group ("Infineon") comprising Infineon Technologies AG (hereafter also "the Company") and its subsidiaries for the first half of the 2024 and 2023 fiscal years, have been prepared in accordance with International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), as adopted by the European Union (EU). The condensed Consolidated Interim Financial Statements have been prepared in compliance with IAS 34, "Interim Financial Reporting". Accordingly, certain information and footnote disclosures normally included in consolidated financial statements have been condensed or omitted. The condensed Consolidated Interim Financial Statements should be read in conjunction with the audited Consolidated Financial Statements for the 2023 fiscal year. They have been prepared in accordance with IFRS, as adopted by the EU. In interim periods, income tax expense is calculated based on the current estimated effective tax rate for the full year.

The accounting policies applied in the preparation of the accompanying condensed Consolidated Interim Financial Statements are consistent with those used for the 2023 fiscal year. An exemption to this principle is the application of new or revised standards and interpretations relevant to Infineon for the fiscal year starting on 1 October 2023. The application of these new or revised standards does not have any material impact on Infineon's financial position, results of operations and cash flows.

These condensed Consolidated Interim Financial Statements contain all necessary adjustments and present, in the opinion of the management, a true and fair view of the financial position, results of operations and cash flows. All

accruals recorded are of a normal recurring nature. The results of operations for any interim period are not necessarily indicative of results for the full fiscal year.

All amounts presented in these condensed Consolidated Interim Financial Statements are shown in euro (€) unless stated otherwise.

Deviations between amounts presented are possible due to rounding. Negative amounts are presented in parentheses.

The Company's Management Board prepared the condensed Consolidated Interim Financial Statements on 6 May 2024.

Estimates and assumptions

The preparation of the condensed Consolidated Interim Financial Statements requires management to make estimates and assumptions that have an impact on the presented amounts and the associated disclosures.

Estimates and assumptions undergo regular review and must be adjusted where appropriate.

Although management makes these assumptions and estimates to the best of their knowledge based on current events and activities, actual results may differ significantly from those estimates and assumptions, especially considering the current geopolitical situation.

Areas that contain estimates and assumptions are explained in more detail in note 2 to the 2023 Consolidated Financial Statements. If there have been significant changes to the estimates and assumptions or the underlying parameters in the interim reporting period, these are dealt with separately as part of these condensed Consolidated Interim Financial Statements.

All assumptions and estimates are based on the circumstances and assessments as of the balance sheet date, and taking into account knowledge gained up to the approval by the Management Board of the condensed Consolidated Interim Financial Statements on 6 May 2024.

2 Acquisitions

Acquisition of 100 percent of the shares in GaN Systems Inc.

On 24 October 2023, Infineon acquired all shares in GaN Systems Inc. ("GaN Systems"), which is based in Ottawa (Canada). GaN Systems develops GaNbased power conversion solutions. With this acquisition , Infineon strengthens its leading position in the field of power systems. The purchase price was €828 million, of which €825 million resulted in a cash outflow at the time of acquisition and €3 million will lead to subsequent payments to former shareholders under a terminated stock option program. The acquired net assets of GaN Systems before the purchase price allocation amounted to €58 million. The acquired assets mainly relate to cash, inventories, property, plant and equipment and right-of-use assets from leases. The acquired liabilities primarily relate to trade payables and lease liabilities. The excess of purchase price over net assets acquired amounted to €770 million.

The purchase price allocation, which was generally based on the fair values of the assets acquired and liabilities assumed, resulted in particular in the recognition of intangible assets such as technologies and customer relationships as well as goodwill. The main assumptions made in the context of the purchase price allocation concerned the development of revenue and margins in the corporate planning of the acquired business operations, the expected synergies and the cost of capital.

The following table shows the the assets acquired and liabilities assumed, taking into account the purchase price allocation at the time of acquisition:

€ in millions
Cash and cash equivalents	56
Trade receivables	3
Inventories	19
Other current assets	38
Property, plant and equipment	5
Other intangible assets	187
Right-of-use assets	4
Total assets	312
Trade payables	2
Current provisions	1
Current lease liabilities	1
Other current liabilities	55
Deferred tax liabilities	21
Non-current lease liabilities	3
Total liabilities	83
Net assets acquired	229
Goodwill	599
Consideration transferred (purchase price)	828
Paid in cash as of 31 March 2024	825

The goodwill of €599 million arising from the acquisition of GaN Systems, which was originally denominated in US dollars, is primarily attributable to synergies, expected cost benefits, income from the future technology and customer portfolio and the know-how of the workforce. The goodwill is not deductible for tax purposes.

The costs for the implementation of the business combination associated with the acquisition, comprising mainly legal expenses, bank commissions and other consulting expenses, were recognized in other operating expenses and amounted to €9 million.

The gross carrying amount of trade receivables acquired at the date of acquisition was €3 million and was primarily in line with fair value.

GaN Systems' revenue and earnings, which have been included in the Consolidated Statement of Profit or Loss for the reporting period since the date of acquisition, were as follows:

€ in millions
Revenue	ഗ
Profit (loss) for the period	29)

GaN Systems' result after tax was significantly impacted by acquisition-related depreciation and amortization, in particular of other intangible assets identified as part of the purchase price allocation, and other expenses .

If GaN Systems had already been acquired and consolidated as of 1 October 2023, Infineon would have recorded revenue of €7,335 million in the Consolidated Statement of Profit and Loss for the first half of fiscal year 2024. The profit (loss) for the period would have amounted to €978 million. In particular, amortization of the other intangible assets identified as part of the purchase price allocation, which would also have been valid as of 1 October 2023, was taken into account.

The GaN Systems business units were fully integrated into the existing Power & Sensor Systems segment.

Acquisition of 3db Access AG

On 4 October 2023, Infineon also acquired all shares in the startup 3db Access AG, based in Zurich (Switzerland). The startup is a pioneer in secured low power ultra-wideband technology. The acquisition strengthens Infineon's portfolio of secure and intelligent access control, precise localization and enhanced sensing.

The acquisition had only minor financial impacts during the reporting period.

3 Income taxes

In the first half of the 2024 fiscal year, the effective tax rate was influenced by foreign tax rates, non-deductible expenses, tax-free income, tax credits, taxes for prior years and changes to the valuation allowances for deferred tax assets. The tax expense is reduced by out-of-period effects from the reversal of tax provisions in the amount of €33 million.

		First half	Change
€ in millions	2024	2023	absolute	in %
Profit (loss) from continuing operations before income taxes	1,218	2,009	(791)	(39)
Income taxes	(226)	(454)	228	50
Effective tax rate	18.6%	22.6%	(400 bp)

4 Disposals and discontinued operations

Sale of two backend manufacturing sites in Cheonan (South Korea) and Cavite (Philippines)

On 22 February 2024, Infineon entered into definite agreements for the sale of two backend manufacturing sites in Cheonan (South Korea) and Cavite (Philippines) to Advanced Semiconductor Engineering (ASE). At the same time and in consideration of the sale, supply contracts were concluded with ASE for a period of five years. The contracts are regarded as "related contracts" for accounting purposes. Deferred income will be recognized in connection with the supply contracts at the closing of the sale, which will be realized over the term of the procurement contracts. The closing of the sale is subject to customary closing conditions, the fulfillment of which is considered highly probable. The transfer of the assets and liabilities sold is expected to take place in the third quarter of fiscal year 2024. In total, assets with a carrying amount of €94 million were reclassified to assets held for sale and liabilities with a carrying amount of €24 million were reclassified to liabilities held for sale. As the

expected sales proceeds including deferred income are below the carrying amount of the net assets, the assets were impaired by €37 million. The impairment was recognized in other operating expenses in the reporting period.

Qimonda - discontinued operations

On 23 January 2009, Qimonda AG ("Qimonda"), a majority owned company, filed an application at the Munich Local Court to commence insolvency proceedings (see note 7 to the 2023 Consolidated Financial Statements). The current risks and provisions relating to Qimonda's insolvency are described in detail in note 24 to the 2023 Consolidated Financial Statements.

Adjustments were made to individual provisions in connection with the insolvency of Qimonda in the first half of the 2024 fiscal year (see note 8), which resulted in expenses after income taxes of €11 million and which are reported in the Consolidated Statement of Profit or Loss under Profit (loss) from discontinued operations, net of income taxes.

5 Financial debt

Financial debt consisted of the following:

€ in millions	31 March 2024	30 September 2023
USPP notes US\$350 million, interest rate 3.94%, due 2024	324	330
Loans payable to banks, weighted average interest rate 4.51%	750
Bond €500 million, coupon 0.625%, due 2025	499
Short-term financial debt and current portion of long-term financial debt	1,573	330
Bond €500 million, coupon 0.625%, due 2025		498
Bond €750 million, coupon 1.125%, due 2026	741	746
Bond €500 million, coupon 3.375%, due 2027	497
Bond €750 million, coupon 1.625%, due 2029	744	743
Bond €650 million, coupon 2.00%, due 2032	640	640
USPP notes US\$585 million, average interest rate 4.18%, due 2026-2028	541	552
USPP notes US\$1,300 million, average interest rate 2.88%, due 2027 - 2033	1,199	1,224
Long-term financial debt	4,368	4,403
Total	5,941	4,733

On 19 February 2024, as part of its EMTN (European Medium Term Notes) program, Infineon Technologies AG issued a non-subordinated, unsecured bond with a nominal value of €500 million, due in 2027, with a coupon of 3.375 percent per year. The bond is listed on the Luxembourg Stock Exchange.

In February 2024, S&P Global Ratings raised Infineon's investment grade rating from "BBB" with a positive outlook to "BBB+" with a stable outlook.

On 5 April 2024, a USPP bond in the amount of US\$350 million was repaid as scheduled.

In December 2023 Infineon concluded uncommitted bilateral money market funding facilities with an aggregated amount of €1 billion. As per 31 March 2024, the facilities have been drawn in the amount of €750 million.

The total lines of credit as of 31 March 2024 and 30 September 2023 are summarized as follows:

		31 March 2024		30 September 2023
€ in millions	Aggregate facility	Drawn	Available	Aggregate facility	Drawn	Available
Short-term credit facilities	1,064	750	314	દિવે		દિવે
Long-term credit facilities
Total	1,064	750	314	69		રિક

6 Provisions

Current and non-current provisions consisted of the following:

			Challige
€ in millions	31 March 2024	30 Septem- ber 2023	absolute	in %
Obligations to employees	459	785	(326)	(42)
Provisions related to Qimonda (see note 4 and note 8)	225	212	13	6
Warranties	71	50	21	42
Other	44	52	(8)	(15)
Total provisions	799	1,099	(300)	(27)
Thereof current	473	799	(326)	(41)
Thereof non-current	326	300	26	9

7 Equity

The ordinary share capital of Infineon Technologies AG amounted to €2,611,842,274 as of 31 March 2024 (30 September 2023: €2,611,842,274), divided into 1,305,921,137 no par value registered shares (30 September 2023: 1,305,921,137), each representing €2 of the Company's ordinary share capital.

As of 31 March 2024, of the above-mentioned total number of issued shares, the Company held 8,605,554 own shares (30 September 2023: 2,171,026). In the period from 26 February 2024 to 18 March 2024, the Company acquired 7 million own shares as part of a limited share buyback program. The total purchase price paid for the shares amounted to €233 million. The buyback was carried out on behalf of Infineon by an independent credit institution. The repurchased shares serve the sole purpose of allocating shares to employees of Infineon, members of the Management Board of the Company and members of the Management Board and management of affiliated companies as part of share-based payments. The obligation to the credit institution to repurchase 7 million shares was valued at €237 million at the time of the appointment and led to a corresponding reduction in equity. The difference of €4 million between the expected repurchase value and the total purchase price of the shares was recognized in the consolidated statement of profit and loss as other financial income.

In the first half of the 2024 fiscal year, 565,472 treasury shares were transfered to employees of Infineon, members of the Company's Management Board and members of the Management Board and management teams of affiliated companies under the Performance Share Plan and the Restricted Stock Unit Plan (see Note 22 to the 2023 Consolidated Financial Statements).

At the Annual General Meeting on 23 February 2024, it was resolved that a dividend of €0.35 is to be paid for each eligible share out of the distributable profit of Infineon Technologies AG for the 2023 fiscal year. Taking into account the non-entitlement to a dividend of own shares, this resulted in a distribution of €456 million.

Infineon Technologies AG issued a perpetual hybrid bond on 1 October 2019 to refinance the acquisition of Cypress, which is an equity instrument under IAS 32 (see Note 20 to the 2023 Consolidated Financial Statements).

For the first half of the 2024 fiscal year, €20 million was recognized in equity as compensation to hybrid capital investors. For the purpose of calculating earnings per share, the profit (loss) for the period attributable to the shareholders of Infineon Technologies AG of €981 million was reduced by the compensation of hybrid capital investors of €15 million (net of tax) to €966 million in the first half of the 2024 fiscal year.

The compensation of the hybrid capital investors is paid annually retrospectively on 1 April of each year, subject to repayment or redemption. On 2 April 2024, €39 million was paid out.

8 Legal risks

Litigation and government inquiries

Please refer to note 24 to the 2023 Consolidated Financial Statements for a description of litigation and government inquiries (in particular with respect to "Proceedings in relation to Qimonda"), as well as other litigation and proceedings, and the associated risks.

On 8 January 2024 the court-appointed expert presented his opinion on the assessment of the values of the contributions in kind. The expert determined a negative value of minus €72.3 million for the Qimonda domestic business and a negative value of minus €1,045.4 million for the Qimonda foreign business. These values are, by an amount of €1,717.7 million, below the relevant values totaling €600 million which are required for the contributions in kind.

The submission of the expert opinion represents an interim step in the pending legal dispute. The amount of Infineon's potential liability depends on further aspects. In particular, the value of the limited liability shares which formed the contribution of the foreign business cannot, as a matter of principle, be negative. This is also mentioned in the expert opinion. This would significantly

reduce the liability for impairment of capital for the foreign business by an amount of €1,045.4 million.

In addition, the expert opinion did not determine the liquidation values, which, according to the expert opinion, will also need to be considered. In Infineon's view, the liquidation values reach at least the values required for the contributions in kind and thus exclude the liability for impairment of capital alleged by the insolvency administrator.

The parties will continue to exchange further written submissions. The court has scheduled oral proceedings on 27 November 2024.

Infineon, in principle, remains prepared to conduct discussions about an outof-court settlement of the legal dispute. It is not clear at this stage if the legal dispute can be resolved with an out-of-court settlement, and, if this is not the case, when a first-instance court decision would be reached.

In connection with Qimonda, Infineon recorded provisions of €225 million in total as of 31 March 2024 (30 September 2023: €212 million).

9 Transactions with related companies and persons

Infineon has transactions in the normal course of business with joint ventures, associated companies and other related companies (collectively, "related companies"). Related persons are persons in key management positions, in particular Management and Supervisory Board members and their close relatives (collectively, "related persons").

Related companies

Infineon purchases certain raw materials and services from, and sells certain products and services to related companies.

Related companies' receivables and payables as of 31 March 2024 and 30 September 2023 consisted of the following:

€ in millions		31 March 2024		30 September 2023
€ in millions	Joint ventures	Associated companies	Other related companies	Joint ventures	Associated companies	Other related companies
Trade and other receivables	10	3	1	16	3	1
Financial receivables			2	12		1
Trade and other payables	21		2	30		2
Financial payables						1

Sales and service charges to and products and services received from related companies for the first half of the 2024 and 2023 fiscal years consist of the following:

	First half
€ in millions		2024			2023
€ in millions	Joint ventures	Associated companies	Other related companies	Joint ventures	Associated companies	Other related companies
Sales and service charges	65	7	1	୧୫	6	1
Products and services received	56	-	13	58		12

Related persons

Dr Manfred Puffer resigned from the company's Supervisory Board with effect from the end of the company's Annual General Meeting on 23 February 2024. Ute Wolf's term of office as a court-appointed shareholder representative on the Supervisory Board also expired at the same time.

On 23 February 2024, the company's Annual General Meeting elected Ute Wolf and Prof. Dr Hermann Eul to the Supervisory Board as shareholder representatives with effect from the end of the Annual General Meeting on 23 February 2024 until the end of the Annual General Meeting that approves the actions of the Supervisory Board for the 2027 fiscal year.

10 Additional disclosures on financial instruments

The classification of financial instruments in categories according to IFRS 9, the valuation methods and significant assumptions, are unchanged since 30 September 2023 and are described in detail in note 2 to the 2023 Consolidated Financial Statements. A detailed overview of Infineon's financial instruments, financial risk factors and the management of financial risks is contained in notes 27 and 28 to the 2023 Consolidated Financial Statements.

Current macroeconomic uncertainties and geopolitical instability could have a direct and indirect effect on Infineon's financial risks such as foreign exchange risk, interest rate risk, credit risk as well as liquidity risk and other risks. The course of these events and their impact on Infineon's risk position is continually monitored and is considered in the methods, models and processes used to control financial risks.

With respect to financial instruments measured at fair value through profit and loss, depending on the further developments in the markets, larger fluctuations in fair values could arise, which could result in a corresponding volatility within the Consolidated Statement of Profit or Loss or the Consolidated Statement of Financial Position.

Financial instruments measured at fair value are allocated to the following fair value measurement levels in accordance with IFRS 13. The allocation to the different levels is based on the market proximity of the valuation parameters used in the determination of the fair value:

• Level 1: quoted prices (unadjusted) in active markets for identical assets and liabilities,

• Level 1, but which can be observed either directly or indirectly for the assets or liabilities concerned,

• Level 3: valuation parameters for assets and liabilities, which are not based on observable market data.

The carrying amounts and fair values as well as the classification of financial instruments measured at fair value into the levels as of 31 March 2024 and 30 September 2023 was as follows:

	Carrying amount	Measured at Measured at fair value (by categories) amortized cost			Fair value
€ in millions			Level 1	Level 2	Level 3
31 March 2024
Current assets:
Cash and cash equivalents	1,786	516	1,270			1,786
Financial investments	797		797			797
Trade receivables	2,000	2,000				2,000
Other current assets	338	334				338
Non-current assets:
Other non-current assets	266	115	122		31	266
Total	5,187	2,965	2,189		31	5,187
Current liabilities:
Short-term financial debt and current portion of long-term financial debt	1,573	1,573	487	1,086		1,573
Trade payables	2,003	2,003				2,003
Other current liabilities	1,003	1,000				1,003
Non-current liabilities
Long-term financial debt	4,368	4,368	2,496	1,580		4,076
Other non-current liabilities	517	517				517
Total	9,464	9,461	2,983	2,669		9,172

	Carrying amount	ivicasul cu dt amortized cost		Measured at fair value (by categories)		Fair value
€ in millions			Level 1	Level 2	Level 3
30 September 2023
Current assets:
Cash and cash equivalents	1,820	651	1,169			1,820
Financial investments	1,770		1,770			1,770
Trade receivables	1,991	1,991				1,991
Other current assets	363	353		2	8	363
Non-current assets:
Other non-current assets	208	તે જેવ	103		10	208
Total	6,152	3,090	3,042	2	18	6,152
Current liabilities:
Short-term financial debt and current portion of long-term financial debt	330	330		333		333
Trade payables	2,765	2,765				2,765
Other current liabilities	993	987		5	-	993
Non-current liabilities
Long-term financial debt	4,403	4,403	2,370	1,545		3,915
Other non-current liabilities	130	130				130
Total	8,621	8,615	2,370	1,883	1	8,136

With the exception of short-term and long-term financial debt, the carrying amounts of financial instruments measured at amortized cost represent a reasonable approximation of fair value.

Cash equivalents and financial investments measured at fair value include investments in money market funds or investment funds (level 1).

Other current assets and other current liabilities measured at fair value contained derivative financial instruments (including cash flow hedges). Their fair value was determined by discounting future cash flows according to the discounted cash flow method. Where possible, valuation parameters observed on the reporting date in the relevant markets (such as currency rates, interest

rates or commodity prices) drawn from reliable external sources were used (level 2). Where fair values were estimated on the basis of non-observable input factors, they were assigned to the fair value category level 3.

Other non-current assets measured at fair value included equity investments and investments in funds. Where these are traded on an active market, the fair value was based on the actual market price (level 1). In addition, other noncurrent assets included derivative financial instruments whose fair value was calculated using recognized financial mathematical models, with only observable input parameters being included in the measurement (level 2). For equity investments where no market price from an active market is available,

the fair value was determined by considering existing contractual arrangements based on externally observable dividend policy (level 3).

The fair value of short-term and long-term financial debt measured at amortized cost is either based on price quotations on the balance sheet date (Level 1) or is determined on the basis of expected future cash flows discounted at a current market interest rate (Level 2).

The following table shows the reconciliation of financial instruments classified as level 3 (before tax):

€ in millions	Deal contingent forward	Deal contingent option	Equity investments
30 September 2023	(1)	8	10
Acquisitions (including additions)2			21
Sales (including disposals)	2	(7)
Realized gains recognized in profit or loss2		2
Losses in equity	(1)	(3)
31 March 2024			31

1 The additions predominantly relate to the investment in European Semiconductor Manufacturing Company (ESMC) GmbH, in which Infineon holds a 10% share.

2 This relates to gains recognized in financial income or losses recognized in financial expenses.

In order to hedge the foreign currency risks arising from the purchase price obligation in connection with the acquisition of GaN Systems (see note 2), a transaction-dependent euro/US dollar foreign currency forward (deal contingent forward) and a transaction-dependent euro/US dollar foreign currency option (deal contingent option), each with a nominal volume of US\$415 million, were concluded and were accounted for as cash flow hedges. The determination of the fair values of the deal contingent forward and deal contingent option, designated as cash flow hedges, was carried out on the basis of factors observable in the market such as forward rates, interest curves and volatilities. In addition, the most likely date of the conclusion of the planned

acquisition was considered as a non-observable factor. Upon completion of the acquisition of GaN System on 24 October 2023, the deal contingent forward and the deal contingent option were settled.

A hypothetical change in the material non-observable valuation parameters at the balance sheet date of ± 10 percent would have resulted in a theoretical reduction in fair values of €1 million or an increase of €1 million.

As in the first half of the previous year, no reclassification between the levels took place during the reporting period.

Segment reporting 11

Identification of the segments

Infineon's business is structured into the four operating segments Automotive, Green Industrial Power, Power & Sensor Systems and Connected Secure Systems.

Other Operating Segments comprise the remaining activities of divested businesses and other business activities.

Corporate and Eliminations reflects the elimination of intragroup revenue and profits/losses to the extent that these arise between the segments.

Segment information

The following table shows segment revenue by product category:

	Total			Power semiconductors		Embedded control & connectivity		RF & sensors	Memory ICs for specific applications
	First half
	2024	2023	2024	2023	2024	2023	2024	2023	2024	2023
Revenue from contracts with customers:
Automotive	4,163	3,951	1,967	2,000	1,554	1,239	342	362	300	350
Green Industrial Power	956	1,058	956	1,058						l
Power & Sensor Systems	1,478	1,969	1,130	1,583	81	169	267	217		-
Connected Secure Systems	734	1,081			734	1,081
Subtotal	7,331	8,059	4,053	4,641	2,369	2,489	609	579	300	350
Other Operating Segments		12
Corporate and Eliminations
Total	7,334	8,071

				Change
€ in millions	31 March 2024	30 September 2023	absolute	in %
Inventories:
Automotive	2,468	2,039	429	21
Green Industrial Power	335	336	(1)	(0)
Power & Sensor Systems	752	736	16	2
Connected Secure Systems	408	461	(23)	(11)
Other Operating Segments		1	(1)
Corporate and Eliminations	441	401	40	10
Total	4,404	3,974	430	11

		First half	Change
€ in millions	2024	2023	absolute	in %
Segment result:
Automotive	1,077	1,180	(103)	(9)
Green Industrial Power	219	325	(106)	(33)
Power & Sensor Systems	163	498	(335)	(67)
Connected Secure Systems	79	280	(201)	(72)
Other Operating Segments	-1	3	(4)
Corporate and Eliminations		1
Total	1,538	2,287	(749)	(33)

The following table shows the reconciliation of segment result to profit (loss) from continuing operations before income taxes:

		First half	Change
€ in millions	2024	2023	absolute	in %
Segment result:	1,538	2,287	(749)	(33)
Plus/minus:
Certain reversal of impairments (impairments)	(37)		(37)
Gains (losses) from restructuring and closures	(13)		(13)
Share-based payment	(60)	(34)	(26)	(76)
Acquisition-related depreciation/amortization and other expenses	(216)	(244)	28	11
Gains (losses) on sales of businesses, or interests in subsidiaries		30	(30)
Other income and expenses	(14)		(14)
Operating profit	1,198	2,039	(841)	(41)
Financial income	70	37	33	89
Financial expenses	(57)	(78)	21	27
Share of profit (loss) of associates and joint ventures accounted for using the equity method	7	11	(4)	(36)
Profit (loss) from continuing operations before income taxes	1,218	2,009	(791)	(39)

Of the €216 million "acquisition-related depreciation/amortization and other expenses" incurred in the first half of the 2024 fiscal year, €136 million was

attributable to cost of goods sold, €9 million to research and development expenses, €76 million to selling, general and administrative expenses and minus €5 million to the balance from other operating income and expense.

Entity-wide disclosures

Revenue by region for the first half of the 2024 and 2023 fiscal years was as follows:

	First half
€ in millions, except percentages	2024		2023
Europe, Middle East, Africa	1,951	27%	2,092	26%
therein: Germany	871	12%	974	12%
Asia-Pacific (excluding Japan, Greater China)	1,170	16%	1,302	16%
Greater China1	2,463	33%	2,600	32%
therein: Mainland China, Hong Kong	1,958	27%	1,977	24%
Japan	738	10%	882	11%
America	1,012	14%	1,195	15%
therein: USA	822	11%	1,014	13%
Total	7,334	100%	8,071	100%

1 Greater China comprises Mainland China, Hong Kong and Taiwan.

Neubiberg, 6 May 2024

Infineon Technologies AG

Management Board

Jochen Hanebeck Dr. Sven Schneider

Elke Reichart Andreas Urschitz Dr. Rutger Wijburg

Responsibility Statement by the Management Board

To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the condensed Consolidated Interim Financial Statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the Interim Group Management Report includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group for the remaining months of the fiscal year.

Neubiberg, 6 May 2024

Jochen Hanebeck Dr. Sven Schneider

Elke Reichart Andreas Urschitz Dr. Rutger Wijburg Note: This is a translation of the German original. Solely the original text in German language is authoritative.

Review Report

To Infineon Technologies AG, Neubiberg

We have reviewed the condensed consolidated interim financial statements comprising the consolidated statement of financial position, the consolidated statement of profit or loss, the consolidated statement of comprehensive income, the consolidated statement of cash flows, the consolidated statement of changes in equity and selected explanatory notes to the condensed consolidated interim financial statements - and the interim group management report of Infineon Technologies AG, Neubiberg/Germany, for the period from 1 October 2023 to 31 March 2024 which are part of the half-year financial information pursuant to § (Article) 115 of the German Securities Trading Act (Wertpapierhandelsgesetz - WpHG). The preparation of the condensed consolidated interim financial statements in accordance with the International Financial Reporting Standards (IFRS) applicable to interim financial reporting as adopted by the EU and the interim group management report in accordance with the provisions of the German Securities Trading Act applicable to interim group management reports is the responsibility of the parent company's board of management. Our responsibility is to issue a review report on the condensed consolidated interim financial statements and on the interim group management report based on our review.

We conducted our review of the condensed consolidated interim financial statements and of the interim group management report in accordance with German generally accepted standards for reviews of financial statements promulgated by the Institut der Wirtschaftsprüfer (Institute of Public Auditors in Germany) (IDW). Those standards require that we plan and perform the review so that we can preclude through critical evaluation, with moderate assurance, that the condensed consolidated interim financial statements have not

prepared, in all material respects, in accordance with the IFRS applicable to interim financial reporting as adopted by the EU or that the interim group management report has not been prepared, in all material respects, in accordance with the provision of the German Securities Trading Act applicable to interim group management reports. A review is limited primarily to inquiries of company personnel and analytical procedures and therefore does not provide the assurance attainable in a financial statement audit. Since, in accordance with our engagement, we have not performed a financial statement audit, we cannot express an audit opinion.

Based on our review, no matters have come to our attention that cause us to presume that the condensed consolidated interim financial statements of Infineon Technologies AG, Neubiberg/Germany, have not prepared, in all material respects, in accordance with the IFRSs applicable to interim financial reporting as adopted by the EU or that the interim group management report has not been prepared, in all material respects, in accordance with the provisions of the German Securities Trading Act applicable to interim group management reports.

Munich/Germany, 6 May 2024

Deloitte GmbH

Wirtschaftsprüfungsgesellschaft

Christoph Schenk Alexander Hofmann Wirtschaftsprüfer Wirtschaftsprüfer (German Public Auditor) (German Public Auditor)

Supplementary Information

Forward-looking Statements

This Half-Year Financial Report contains forward-looking statements about the business, financial condition and earnings performance of Infineon.

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.

Financial Calendar

Tuesday, 7 May 2024 Publication date of half-year financial report as of 31 March 2024

Thursday, 5 August 20241 Publication of third quarter 2024 results

Wednesday, 12 November 2024¹

Publication of fourth quarter and fiscal year 2024 results

1 preliminary

Contact information

Infineon Technologies AG Investor Relations Am Campeon 1-15 85579 Neubiberg near Munich, Germany

Phone: +49 89 234-26655

Fax: +49 89 234-9552987

E-Mail: investor.relations@infineon.com

Visit http://www.infineon.com/investor for an electronic version of this report and other information.

Public

Published by Infineon Technologies AG Am Campeon 1– 15, 85579 Neubiberg near Munich (Germany)