Half-Year Financial Report 31 March 2025

Infineon Technologies AG

www.infineon.com

Content

Content	2
Selected consolidated key data	3
Interim Group Management Report	4
Group performance in the first half
of the 2025 fiscal year	5
Operating segment performance in the first half
of the 2025 fiscal year	5
The Infineon share	8
Review of business environment	9
Review of financial performance	10
Review of financial position	13
Review of liquidity	15
Employees	17
Outlook for the 2025 fiscal year	18
Risks and Opportunities	19

Condensed Consolidated Interim Financial Statements 20
Consolidated Statement of Profit or Loss	21
Consolidated Statement of Comprehensive Income	22
Consolidated Statement of Financial Position	23
Consolidated Statement of Cash Flows	24
Consolidated Statement of Changes in Equity	26
Notes to the condensed
Consolidated Interim Financial Statements	28
Responsibility Statement by the Management Board	42
Review Report	43
Supplementary Information	44
Financial Calendar	44

Selected consolidated key data

	2025		2024
First half of fiscal year	€ in millions	in % of revenue	€ in millions	in % of revenue	change in %1
Revenue by segment	7,014		7,334		(4)
Automotive2	3,610	51	3,821	52	(6)
Green Industrial Power	737	11	656	13	(23)
Power & Sensor Systems2	1,966	28	1,820	25	8
Connected Secure Systems	700	10	734	10	(5)
Other Operating Segments	1	0	3	0	(67)
Corporate and Eliminations
Selected results of operations key data
Gross profit/Gross margin3	2,734	39.0	3,089	42.1	(11)
Research and development expenses3	(1,103)	15.7	(1,086)	14.8	2
Selling, general and administrative expenses	(771)	11.0	(770)	10.5	O
Operating profit	637		1,198		(47)
Profit (loss) for the period	478		981		(51)
Segment Result/ Segment Result Margin	1,174	16.7	1,538	21.0	(24)
Basic earnings per share in €	0.36		0.74		(21)
Diluted earnings per share in €	0.36		0.74		(51)
Adjusted earnings per share (in euro) from continuing operations - diluted4	0.68		0.95		(28)

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

2 On 1 January 2025, the "Sense & Control" business line, which was previously allocated to the Automotive segment, was transferred to the Power & Sensor Systems segment. The first half of the 2025 fiscal year are presented as if the transfer took place on 1 October 2024. The comparative figures for the prior-year period have been adjusted accordingly.

3 Figures for the prior-year period have been adjusted (details see note 1 to the condensed Consolidated Interim Financial Statements).

	€ in millions
First half of fiscal year	2025	2024	change in %1
Selected liquidity key data
Cash flows from operating activities from continuing operations	1,177	599	96
Cash flows from investing activities	(1,311)	(1,164)	13
Cash flows from financing activities	(464)	537
Free Cash Flowδ	(62)	(1,516)	(96)
Adjusted Free Cash Flow	378	(274)	+++
Depreciation and amortization	970	922	5
Investments®	1,202	1,297	(7)
€ in millions (unless otherwise stated)	As of 31 March 2025	As of 30 Sep- tember 2024	change in 0/01
Gross cash position 5	1,687	2,201	(23)
Net cash position5	(3,829)	(2,610)	47
Selected financial condition key data
Total balance sheet	28,940	28,639	1
Total equity	17,110	17,219	(1)
Equity ratio	59.1%	60.1%	(100) bp
Market capitalization8	39,501	40,872	(3)
Infineon employees (in total figures)	57,397	58,065	(1)

4 See the chapter "Review of financial performance" for definition.

5 See the chapter "Review of liquidity" for definition.

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

7 Equity ratio = Total equity/Total assets.

8 The calculation is based on unrounded figures. Own shares were not taken into consideration of market capitalization.

Interim Group Management Report

Revenue and earnings down in the reporting period
Segment Result Margin in the first half of the 2025 fiscal year: 16.7 percent
Following a solid first half-year, the outlook for the 2025 fiscal year has been revised to take account of tariff disputes and currency movements:
- Based on an assumed exchange rate of US\$1.125 to the euro (previously 1.05), Infineon expects now revenue to slightly decline compared with the prior year. This includes a guesstimate of potential effects related to tariff disputes.
- Segment Result Margin should be in the mid-teens percentage range
- Free Cash Flow should be unchanged at around €900 million
- Adjusted Free Cash Flow should now be around €1.6 billion
- Return on capital employed (RoCE) still expected to be in the mid-singledigit percentage range

"Infineon has performed well in the second quarter. Even at an more unfavorable exchange rate of \$1.125 to the euro, we would be right on track and in line with our previous expectations for the fiscal year. Given that order intake still shows no signs at all of slowing down, we can only guesstimate the effects of tariff disputes. We have therefore applied a haircut of 10 percent of expected revenue in the fourth quarter of the 2025 fiscal year. We are now anticipating a slight decline in revenue compared with the prior year," says Jochen Hanebeck, CEO of Infineon.

Group performance in the first half of the 2025 fiscal year

C01

Revenue and Segment Result

€ in millions

In the first half of the 2025 fiscal year, revenue decreased by €320 million to €7,014 million, compared with €7,334 million in the prior-year period. This was a decline of 4 percent, resulting mainly from reductions in selling prices and inventory adjustments by customers, especially with regard to classic automotive applications and in the areas of industrial drives and renewable energy. However, there was a very good revenue trend to be seen for products for servers and data centers, particularly for artificial intelligence (AI).

Currency effects, especially the stronger US dollar when compared with the prioryear period, also had a positive impact on revenue. The average euro/US dollar exchange rate was 1.06 compared to 1.08 in the corresponding prior-year period.

The Segment Result decreased by 24 percent, from €1,538 million in the first half of the 2024 fiscal year to €1,174 million in the first half of the 2025 fiscal year, mainly

due to price reductions and the increase in underutilization costs due to the ongoing underutilization of production capacities. Factors that contributed, on the other hand, to an improvement in the Segment Result were positive currency effects, higher manufacturing productivity and the first positive results from the "Step Up" structural improvement program. The Segment Result also includes a compensation payment from a customer of a mid-double-digit million amount.

The Segment Result Margin in the reporting period was 16.7 percent, compared with 21.0 percent in the first half of the 2024 fiscal year.

Operating segment performance in the first half of the 2025 fiscal year

On 1 January 2025, the "Sense & Control" business line, which was previously allocated to the Automotive segment, was transferred to the Power & Sensor Systems segment. The figures for the first half of the 2025 fiscal year reflect the transfer since 1 October 2024. The comparative figures for the prior-year period have been adjusted accordingly.

Automotive

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Revenue	3,610	3,821	(211)	(6)
Share of Group Revenue	51%	52%
Segment Result	728	1,013	(285)	(28)
Share of Group Segment Result	62%	66%
Segment Result Margin	20.2%	26.5%	(630) bp

C02

Revenue and Segment Result of the Automotive segment

Revenue Segment Result @ Segment Result Margin

Revenue in the Automotive segment decreased in the first half of the 2025 fiscal year to €3,610 million, from €3,821 million in the corresponding prior-year period. The 6 percent decline was mainly the result of inventory adjustments by customers and lower prices than in the prior year. The Segment Result in the first half of the current fiscal year was €728 million, a 28 percent decrease when compared with the figure for the first half of the 2024 fiscal year of €1,013 million. The reasons for

this were the lower level of revenue (associated with an increase in underutilization costs) and declining prices. The Segment Result Margin in the first half of the 2025 fiscal year was 20.2 percent, compared with 26.5 percent in the first half of the 2024 fiscal year.

Green Industrial Power

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Revenue	737	656	(219)	(23)
Share of Group Revenue	11%	13%
Segment Result	72	219	(147)	(67)
Share of Group Segment Result	6%	14%
Segment Result Margin	9.8%	22.9%	(1,310) bp

C03 Revenue and Segment Result of the Green Industrial Power segment € in millions

In the Green Industrial Power segment, revenue declined by 23 percent, from €956 million in the first half of the 2024 fiscal year to €737 million in the first six months of the current fiscal year. The decrease in revenue was mainly the consequence of high inventory levels at direct customers, especially in the areas of industrial drives and renewable energy. Weaker price trends also had a negative impact on revenue. Sales volumes in the areas of electromobility, such as local and long-distance trains, electric buses, or electric trucks, as well as air conditioning systems, such as air conditioning units, were slightly lower than in the prior year. Revenue from home appliances and energy infrastructure remained stable compared with the first half of 2024. The Segment Result achieved in the first half of the current fiscal year was €72 million, a decrease of 67 percent when compared with the Segment Result in the first half of 2024 of €219 million. The Segment Result Margin was 9.8 percent, compared with 22.9 percent in the prior-year period.

Power & Sensor Systems

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Revenue	1,966	1,820	146	8
Share of Group Revenue	28%	25%
Segment Result	307	227	80	35
Share of Group Segment Result	26%	15%
Segment Result Margin	15.6%	12.5%	310 bp

In the first half of the 2025 fiscal year, revenue in the Power & Sensor Systems segment rose by 8 percent to €1,966 million, compared with €1,820 million in the same period in the previous fiscal year. There was a very good trend in revenue from products for servers and data centers, particularly for artificial intelligence (AI). The smartphone component business also contributed to the growth in revenue, having recovered from a sharp decline in revenue in the prior year. Revenue in the other areas of this segment either remained stable or fell slightly, due to ongoing subdued demand accompanied by negative price trends. The Segment Result improved in the first half of the current fiscal year to €307 million, an increase of 35 percent when compared with the Segment Result of €227 million in the first six months of the 2024 fiscal year. It includes a compensation payment from a customer of a mid-double-digit million amount. The Segment Result Margin rose from 12.5 percent in the first half of 2024 to 15.6 percent in the first half of 2025.

Connected Secure Systems

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Revenue	700	734	(34)	(5)
Share of Group Revenue	10%	10%
Segment Result	70	79	(a)	(11)
Share of Group Segment Result	6%	5%
Segment Result Margin	10.0%	10.8%	(80) bp

C05 Revenue and Segment Result of the Connected Secure Systems segment € in millions

Revenue in the Connected Secure Systems segment decreased in the first half of the 2025 fiscal year to €700 million, compared with €734 million in the corresponding prior-year period. The 5 percent decline was mainly due to lower revenue from payment cards and some consumer applications. The Segment Result decreased by 11 percent to €70 million in the first half of the 2025 fiscal year, compared with €79 million in the prior-year period. In the first half of the current

fiscal year, the Segment Result Margin achieved was 10.0 percent, compared with 10.8 percent in the first half of the 2024 fiscal year.

The Infineon share

The Infineon share price at the end of the first half of the 2025 fiscal year was €30.40, which was 3 percent below the Xetra closing price as of 30 September 2024 of €31.46. Compared to the Dow Jones U.S. Semiconductor Index and the Philadelphia Semiconductor Index (SOX), the Infineon share performed well in the first half of the 2025 fiscal year.

Performance of the Infineon share compared with the DAX, the Philadelphia Semiconductor Index (SOX) and the Dow Jones U.S. Semiconductor Index in the first half of the 2025 fiscal year (daily closing prices)

At the Annual General Meeting held on 20 February 2025, the Management Board and Supervisory Board proposed the payment of a dividend of €0.35 per share for the 2024 fiscal year, the same rate as for the previous year. The shareholders approved the proposal and an amount of €455 million was duly disbursed to them during the first half of the 2025 fiscal year.

As of 31 March 2025, the total number of Infineon shares issued was 1,305,921,137, unchanged from 30 September 2024. The figure includes 6,529,906 own shares, which are not entitled to dividend. At 30 September 2024, the number of own shares held was 6,757,925.

Review of business environment

In the course of the 2024 calendar year, expectations for global economic growth improved slightly. However, at 2.8 percent, the rate of economic expansion remained moderate (International Monetary Fund, World Economic Outlook, April 2025). Economic growth prospects for the 2025 calendar year were also muted, although a slight improvement was expected compared with the 2024 calendar year. Recently, however, the economic outlook has deteriorated. The escalating trade war and its knock-on effects are having an adverse impact on the global economy. It can be assumed that the downward trend will not only affect specific countries. According to the latest forecast from the International Monetary Fund, global economic growth in the 2025 calendar year will fall to 2.3 percent, well below the long-term average. In January of this year, the International Monetary Fund had still been forecasting growth of 2.9 percent for the 2025 calendar year. Other experts, such as J.P. Morgan Investment Bank, are forecasting even weaker global economic growth of 2.0 percent for the calendar year 2025. The growth figures are based on market parameters measured in terms of US dollars using market exchange rates.

According to World Semiconductor Trade Statistics (WSTS), Infineon's reference market (i.e., the semiconductor market excluding DRAM and NAND flash memory chips and microprocessors) grew by 5 percent in the 2024 calendar year compared with the previous year. Revenue from logic modules for AI applications was a major contributor to this growth. On the other hand, markets for Infineon's most important product groups (analog ICs, discrete power semiconductors and microcontrollers) have shrunk (WSTS, 4th Quarter 2024 Forecast Update, March 2025). For Infineon's reference market, WSTS is forecasting growth of 14 percent in the 2025 calendar year compared with the previous year. Even though it can be assumed there will be an improvement in Infineon's most important product markets, double-digit growth is again likely to be driven primarily by demand for logic ICs (forecast to be up by 25 percent). WSTS is forecasting growth in the 2025 calendar year of 5 percent for analog ICs, a slight decline of 1 percent for discrete power semiconductors and a decline of 3 percent for microcontrollers. It should be noted that the WSTS forecasts presented here for the 2025 calendar year do not take account of the impact of the current tariff disputes.

Review of financial performance

		First half	Change
€ in millions, except earnings per share	2025	2024	absolute	in %
Revenue	7,014	7,334	(320)	(4)
Cost of goods sold1	(4,280)	(4,245)	(35)	1
Gross profit	2,734	3,089	(355)	(11)
Research and development expenses2	(1,103)	(1,086)	(17)	2
Selling, general and administrative expenses	(771)	(770)	(1)	0
Other operating income and expenses, net	(223)	(35)	(188)
Operating profit	637	1,198	(261)	(47)
Financial result (financial income and expenses, net)	(45)	13	(28)
Share of profit (loss) of associates and joint ventures accounted for using the equity method	4	7	(3)	(43)
Income taxes	(123)	(226)	103	(46)
Profit (loss) from continuing operations	473	992	(519)	(52)
Profit (loss) from discontinued operations, net of income taxes	5	(11)	16	+++
Profit (loss) for the period	478	081	(503)	(51)
Basic earnings per share (in euro)	0.36	0.74	(0.38)	(51)
Diluted earnings per share (in euro)	0.36	0.74	(0.38)	(51)
Adjusted earnings per share (in euro) from continuing operations - diluted	0.68	0.95	(0.27)	(28)

1 Figures for the prior-year period have been adjusted (details see note 1 to the condensed Consolidated Interim Financial Statements)

Negative price effects and inventory corrections by customers have resulted in lower revenue

Infineon's revenue in the first half of the 2025 fiscal year decreased by €320 million to €7,014 million, from €7,334 million in the first half of the 2024 fiscal year. This was a decline of 4 percent, resulting mainly from reductions in selling prices and inventory corrections by customers, especially with regard to classic automotive applications and in the areas of industrial drives and renewable energy. However, there was a very positive revenue trend to be seen for products for servers and data centers, particularly for artificial intelligence (AI). Moreover, the stronger US dollar when compared with the prior-year period had a positive impact on revenue.

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 2025 fiscal year". For information on revenue by product category, see note 12 to the condensed Consolidated Interim Financial Statements.

Regional distribution of revenue

At €2,634 million or 37 percent (October 2023 – March 2024: 33 percent), the Greater China region (Mainland China, Hong Kong and Taiwan) accounted for more than one third of revenue in the first half of the 2025 fiscal year, followed by the Europe, Middle East and Africa region with €1,674 million or 24 percent of total revenue (October 2023 – March 2024: 27 percent). The Asia-Pacific region accounted for €1,185 million or 17 percent of total revenue (October 2023 – March 2024: 16 percent) and the Americas region €899 million or 13 percent of total revenue (October 2023 – March 2024: 14 percent). For information on revenue by region, see also note 12 to the condensed Consolidated Interim Financial Statements.

Cost of goods sold remains stable

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Cost of goods sold¹	4,280	4,245	35	1
As percentage of revenue	61.0%	57.9%	310 bp
Gross profit	2,734	3,089	(355)	(11)
Gross margin	39.0%	42.1%	(310) bp

1 Figures for the prior-year period have been adjusted (details see note 1 to the condensed Consolidated Interim Financial Statements).

At €4,280 million, cost of goods sold in the reporting period was similar to the figure for the prior-year period of €4,245 million.

Cost of goods sold 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 acquisition-related expenses totaling €116 million (October 2023 - March 2024: €136 million).

Gross profit (revenue less cost of goods sold) for the first half of the 2025 fiscal year amounted to €2,734 million, 11 percent below the figure for the prior-year period of €3,089 million.

The gross margin decreased accordingly, from 42.1 percent in the first half of the 2024 fiscal year to 39.0 percent in the reporting period.

Operating costs on par with the prior-year period

At €1,874 million in the first half of the 2025 fiscal year, operating costs, consisting of research and development costs as well as selling, general and administrative expenses, were on a par with the prior-year period (October 2023 – March 2024:

€1,856 million). Due to the decline in revenue, the ratio of operating costs to revenue was therefore 26.7 percent (October 2023 – March 2024: 25.3 percent).

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Research and development expenses+	1,103	1,086	17	2
As percentage of revenue	15.7%	14.8%	90 bp

1 Figures for the prior-year period have been adjusted (details see note 1 to the condensed Consolidated Interim Financial Statements).

Research and development expenses rose slightly, from €1,086 million in the first half of the 2024 fiscal year to €1,103 million in the first half of 2025. Infineon is continuing its commitment to research and development activities and is building up its workforce in this area. At 31 March 2025, 13,338 employees were working in various research and development functions (31 March 2024: 13,194). The ratio of research and development expenses to revenue increased from 14.8 percent in the first half of the 2024 fiscal year to 15.7 percent in the reporting period.

	First half		Change
€ in millions, except percentages	2025	2024	absolute	in %
Selling, general and administrative expenses	771	770	1	O
As percentage of revenue	11.0%	10.5%	50 bp

Selling, general and administrative expenses in the reporting period of €771 million were on a par with the figure for the prior-year period of €770 million.

The ratio of selling, general and administrative expenses to revenue for the first half of the 2025 fiscal year of 11.0 percent was slightly higher than the figure for the first half of the 2024 fiscal year of 10.5 percent due to the decline in revenue compared to the prior-year period. The earnings impact of purchase price

allocations and acquisition-related expenses included therein was €67 million in the reporting period (October 2023 - March 2024: €76 million).

Net amount of other operating income and

expenses

The net amount of other operating income and expenses in the first half of the 2025 fiscal year was a net expense of €223 million (October 2023 – March 2024: net expense of €35 million).

Included in other operating expenses were mainly impairment losses of €229 million recognized in relation to intangible assets, property, plant and equipment and right-of-use assets (October 2023 – March 2024: €37 million). Of this amount, €124 million related to the write-down of assets in connection with the sale of the 200-millimeter manufacturing facility in Austin (USA) to SkyWater Technology, Inc. (for more details, see note 4 to the condensed Consolidated Interim Financial Statements.) A further €105 million related to impairment losses arising as part of the "Step Up" structural improvement program.

Included in other operating income is a compensation payment from a customer of a mid-double-digit million amount.

Financial result

The change in the financial result, from a net gain of €13 million in the first half of the 2024 fiscal year to a net loss of €45 million in the reporting period, was mainly due to interest income of €32 million being recognized in the prior-year period in connection with the release of a tax risk provision. There was also a decrease in interest income and, at the same time, an increase in interest expenses from financing arrangements.

Effective tax rate up to 20.6 percent

The income tax expense in the first half of the 2025 fiscal year was €123 million (October 2023 – March 2024: €226 million). The decrease in the income tax expense was mainly attributable to the lower level of profit before income taxes. In relation to profit before income taxes of €596 million (October 2023 – March 2024: €1,218 million), the effective tax rate for the reporting period was 20.6 percent (October 2023 – March 2024: 18.6 percent). It should be noted here that the figure for the prior-year period included tax income of €33 million from the reversal of a tax risk provision.

Decrease in profit for the period and corresponding decrease in earnings per share

After deducting the income tax expense and taking account of the profit or loss from discontinued operations (first half of 2025 fiscal year: profit of €5 million; first half of the 2024 fiscal year: loss of €11 million), Infineon is reporting a profit for the first half of the 2025 fiscal year of €478 million (October 2023 - March 2024: €981 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 2025 fiscal year each stood at €0.36 (October 2023 – March 2024: €0.74).

Decrease in adjusted earnings per share

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 (in particular in connection with "Step Up").

To enable better comparability of operating performance over time, Infineon calculates adjusted earnings per share (diluted) as follows:

		First half		Change
€ in millions (unless otherwise stated)	2025	2024	absolute	in %
Profit (loss) from continuing operations - diluted	473	992	(519)	(52)
Compensation of hybrid capital investors2	(11)	(15)	4	(27)
Profit (loss) from continuing operations attributable to shareholders of Infineon Technologies AG – diluted	462	977	(215)	(23)
Plus/minus:
Certain impairments (reversal of impairments)	229	37	192	+++
Losses (gains) on earnings of restructuring and closures	35	13	22	+++
Share-based payment	87	60	27	45
Acquisition-related depreciation/amortization and other expenses	183	216	(33)	(15)
Losses (gains) on sales of businesses, or interests in subsidiaries	(8)		(8)
Other income and expenses	11	14	(3)	(21)
Tax effect on adjustments	(117)	(76)	(41)	54
Adjusted profit (loss) for the period from continuing operations attributable to shareholders of Infineon Technologies AG - diluted	882	1,241	(359)	(29)
Weighted-average number of shares outstanding (in millions) - diluted	1,306	1,307	(1)
Adjusted earnings per share (in euro) from continuing operations - diluted2	0.68	0.95	(0.27)	(28)

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 position

			Change
€ in millions	31 March 2025	30 Septem- ber 2024	absolute	in %
ASSETS
Cash and cash equivalents and financial investments	1,687	2,201	(514)	(23)
Trade receivables	2,017	2,250	(233)	(10)
Inventories	4,333	3,990	343	9
Property, plant and equipment	8,189	8,002	187	2
Goodwill	7,028	6,797	231	3
Other intangible assets	2,736	2,820	(84)	(3)
Remaining current and non-current assets	2,950	2,579	371	14
Total assets	28,940	28,639	301	1

LIABILITIES AND EQUITY
Trade payables	1,974	1,990	(16)	(1)
Financial debt	5,516	4,811	705	15
Provisions	681	894	(213)	(24)
Remaining current and non-current liabilities	3,659	3,725	(୧୧)	(2)
Equity	17,110	17,219	(109)	(1)
Total liabilities and equity	28,940	28,639	301	1

Decrease in the gross cash position

Cash and cash equivalents and financial investments (gross cash position) decreased by €514 million, from €2,201 million at 30 September 2024 to €1,687 million at 31 March 2025. In addition to the assumption and repayment of current and non-current financial debt and repayment of the first €600 million

tranche of the hybrid bond (see also note 7 to the condensed Consolidated Interim Financial Statements), this was mainly due to the dividend payment for the 2024 fiscal year.

Increase in inventories

Inventories increased by €343 million, from €3,990 million at 30 September 2024 to €4,333 million at 31 March 2025. Most of the increase related to raw materials and supplies.

Ongoing expansion of frontend manufacturing results in an increase in property, plant and equipment

Property, plant and equipment increased by €187 million to €8,189 million as of 31 March 2025. Additions of €1,075 million were set against depreciation and impairment losses of €743 million. The impairment losses were recognized in the course of restructuring the production process and portfolio as part of the Groupwide "Step Up" structural improvement program. In addition, assets mainly related to the disposal of the 200-millimeter manufacturing facility in Austin (USA) were reclassified as assets held for sale.

More information about investments in the first half of the 2025 fiscal year can be found in the chapter "Review of liquidity".

Currency-related increase in goodwill

Goodwill increased by €231 million to €7,028 million as of 31 March 2025. The increase was solely due to currency effects, resulting primarily from the stronger US dollar at the reporting date compared with 30 September 2024.

Increase in remaining current and non-current assets

Remaining current and non-current assets increased by €371 million to €2,950 million. The total for 31 March 2025 includes assets classified as held for sale of €119 million (30 September 2024: €0 million), mainly related to the disposal of the 200-millimeter manufacturing facility in Austin (USA). Further details about this disposal are provided in note 4 to the condensed Consolidated Interim Financial Statements.

Assumption of financial debt

Financial debt increased by €705 million compared with the figure at 30 September 2024. This was mainly due to the assumption of €1,150 million of financial debt to finance the repayment of the first €600 million tranche of the hybrid bond, as well as the redemption on schedule of a €500 million bond falling due and the stronger US dollar at the reporting date compared with 30 September 2024. Further details about financial debt are provided in note 5 to the condensed Consolidated Interim Financial Statements.

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

Provisions fell by €213 million. The decrease was mainly due to the payments made for the 2024 fiscal year relating to variable employee remuneration. Another reason for the decrease was the reclassification of parts of the provision for restructuring measures as part of the "Step Up" program as other liabilities.

Equity ratio remains at a high level

The equity ratio at 31 March 2025 was 59.1 percent (30 September 2024: 60.1 percent).

Equity decreased by 1 percent or €109 million to €17,110 million at 31 March 2025. Set against the profit for the period achieved in the first half of the 2025 fiscal year of €478 million and currency effects of €339 million recognized in other comprehensive income (primarily attributable to the stronger US dollar against the euro) were the repayment of the first €600 million tranche of the hybrid bond (see also note 7 to the condensed Consolidated Interim Financial Statements) and the dividend payment for the 2024 fiscal year of €455 million.

Review of liquidity

Cash Flow

	First half		Change
€ in millions	2025	2024	absolute	in %
Cash flows from operating activities from continuing operations	1,177	599	578	96
Cash flows from investing activities	(1,311)	(1,164)	(147)	13
Cash flows from financing activities	(464)	537	(1,001)
Net change in cash and cash equivalents from discontinued operations	1	(1)	2	+++
Net change in cash and cash equivalents	(597)	(29)	(268)
Exchange rate effects on cash and cash equivalents	6	(5)	11	+++
Change in cash and cash equivalents	(591)	(34)	(557)

Cash inflows from operating activities from continuing operations increased in the reporting period by €578 million to €1,177 million. Although profit for the period was €503 million lower than in the prior-year period, the change in net current assets and in provisions improved by €1,152 million.

Cash outflows from investing activities rose by €147 million to €1,311 million compared with the prior-year period. Net investments of €72 million in financial investments (October 2023 – March 2024: cash inflows of €951 million from the disposal of financial investments) contributed to the cash outflows from investing activities. In the prior-year period, the net purchase price payment for the acquisition of GaN Systems of €769 million contributed to cash outflows from investing activities. Moreover, there was a decrease of €93 million in cash outflows for investments in property, plant and equipment compared with the prior-year period. Investments in the first half of 2025 continued to focus on the expansion of frontend manufacturing in Dresden (Germany), Kulim (Malaysia) and Villach (Austria).

Cash outflows from financing activities changed by €1,001 million. In the first half of 2025, there were net cash outflows from financing activities of €464 million, compared with net cash inflows of €537 million in the prior-year period. This was mainly the result of the change in the net assumption of financial debt. In the reporting period, the first €600 million tranche of the hybrid bond and a €500 million bond were repaid. To do so, financial debt of €1,150 million was assumed. In the prior-year period, the net cash inflows from the assumption and repayment of financial debt totaled €1,250 million. Set against this in the first half of the 2024 fiscal year was the cash outflow of €233 million for the buyback of own shares (see Notes 5 and 7 to the condensed Consolidated Interim Financial Statements). Another cash outflow was the dividend payment for the 2024 fiscal year of €455 million (2023 fiscal year: €456 million).

Increase in Free Cash Flow and adjusted 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 have not been deducted.

Adjusted Free Cash Flow is defined as Free Cash Flow adjusted for cash outflows for large investments in frontend buildings, cash inflows from related investment

subsidies, and major M&A transactions (acquisitions and disposals) adjusted for cash acquired or disposed of.

Both figures should not be seen as a replacement or superior performance indicator, but rather as useful information in addition to the disclosure of the cash flow reported in the Consolidated Statement of Cash Flows, and as a supplementary disclosure to other liquidity performance indicators and other performance indicators determined in accordance with IFRS. Free Cash Flow and adjusted Free Cash Flow are derived as follows from the Consolidated Statement of Cash Flows:

	First half		Change
€ in millions	2025	2024	absolute	in %
Cash flows from operating activities1	1,177	ਦਰੋਰੇ	578	96
Cash flows from investing activities1	(1,311)	(1,164)	(147)	(13)
Payments for the acquisition of (proceeds from sales of) financial investments, net	72	(851)	1,023	+++
Free Cash Flow	(62)	(1,516)	1,454	છે.
Plus:
Cash outflows for large investments in frontend buildings after deduction of cash inflows for related investment subsidies	378	419	(41)	(10)
Cash outflows for major M&A transactions, adjusted for cash acquired or disposed of	62	823	(761)	(92)
Adjusted Free Cash Flow	378	-274	652	+++

1 From continuing operations.

Gross cash position and net cash position

The following table reconciles the gross cash position and net cash position. Since some liquid funds are held in the form of financial investments, which for IFRS purposes are not classified as 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 2024	Change
€ in millions	31 March 2025		absolute	in %
Cash and cash equivalents	1,215	1,806	(591)	(33)
Financial investments	472	395	77	19
Gross cash position	1,687	2,201	(514)	(23)
Minus:
Short-term financial debt and current portion of long-term financial debt	400	500	(100)	(20)
Long-term financial debt	5,116	4,311	805	19
Gross financial debt	5,516	4,811	705	15
Net cash position	(3,829)	(2,610)	(1,219)	47

Employees

The number of employees at Infineon decreased by 668 from 30 September 2024 to 57,397 as of 31 March 2025. This was mainly due to capacity adjustments at backend manufacturing sites. It was also attributable to the first results from the "Step Up" structural improvement program.

The following table shows the composition of the Infineon workforce by region at the relevant reporting dates:

			Change
	31 March 2025	30 Septem- ber 2024	absolute	in %
Europe, Middle East, Africa	24,838	24,989	(151)	(1)
therein: Germany	15,168	15,294	(126)	(1)
Asia-Pacific (excluding Japan, Greater China)	24,282	24,472	(190)	(1)
Greater China1	3,003	3,045	(42)	(1)
therein: Mainland China, Hong Kong	2,542	2,574	(32)	(1)
Japan	683	695	(12)	(2)
Americas	4,591	4,864	(273)	(6)
therein: USA	3,441	3,671	(230)	(6)
Total	57,397	58,065	(୧୧୫)	(1)

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

Outlook for the 2025 fiscal year

The outlook for the 2025 fiscal year excludes the planned acquisition of the automotive Ethernet business of Marvell Technology, Inc., USA, ("Marvell"). In particular, it does not take account of the purchase price payment, since the transaction is still subject to the customary closing conditions and regulatory approvals (see note 2 to the condensed Consolidated Interim Financial Statements).

Based on an assumed exchange rate of US\$1.125 to the euro (previously 1.05), revenue in the 2025 fiscal year is now forecast to slightly decline in comparison with the 2024 fiscal year. In the Group's interim statement for the first quarter of the current fiscal year, revenue was expected to be flat or slightly up 1. The revised outlook, in addition to the change in assumption about exchange rates, includes a haircut resulting from tariff disputes of 10 percent of expected revenue in the fourth quarter of the 2025 fiscal year. Without the haircut the forecast would have remained essentially unchanged.

The Segment Result Margin should now be around in the mid-teens percentage range (before mid-to-high-teen percentage range).

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 planned at around €2.3 billion for the 2025 fiscal year (previously €2.5 billion).

Depreciation and amortization are anticipated to be now around €1.9 billion (previously €2.0 billion) in the 2025 fiscal year, of which approximately €400 million is attributable to amortization of purchase price allocations arising mainly from the acquisition of Cypress.

Reported Free Cash Flow should be unchanged around €900 million. Adjusted Free Cash Flow is forecast to be about €1.6 billion (previously €1.7 billion).

It is still expected that Return on Capital Employed (RoCE) will reach a mid-singledigit percentage rate.

¹ In the outlook of the Annual Report 2024, revenue for the 2025 fiscal year was expected to slightly decline.

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 2024 fiscal year (pages 65 to 79).

Infineon has not identified any material changes in the first half of the 2025 fiscal year beyond the risks and opportunities presented in the 2024 Annual Report. Infineon has assessed current developments with regard to tariff disputes. However, according to current knowledge, semiconductor products have so far been exempt from US tariffs. Therefore, at this point in time, we see no direct material impact on Infineon. Nevertheless, there continues to be a risk that on the one hand potential future direct tariffs on semiconductors could adversely impact Infineon's results of operations. On the other hand, there may be indirect consequences, such as a deterioration in the market situation due to tariff disputes. However, our risk assessment in this regard has not materially changed when compared with the disclosure in Infineon's 2024 Annual Report. The relevant risk sub-categories "Corporate strategy risks" and "Risks arising from cyclical market and sector trends" continue to be classified as "major". 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.

Condensed Consolidated Interim Financial Statements

Consolidated Statement of Profit or Loss

		First half		Change
€ in millions Note	2025	2024	absolute	in %
12 Revenue	7,014	7,334	(320)	(4)
Cost of goods sold1	(4,280)	(4,245)	(35)	1
Gross profit	2,734	3,089	(355)	(11)
Research and development expenses2	(1,103)	(1,086)	(17)	2
Selling, general and administrative expenses	(771)	(770)	(1)	0
Other operating income	85	36	49	+++
Other operating expenses	(308)	(71)	(237)	---
Operating profit	637	1,198	(561)	(47)
Financial income	46	70	(24)	(34)
Financial expenses	(91)	(57)	(34)	60
Share of profit (loss) of associates and joint ventures accounted for using the equity method	4	1	(3)	(43)
Profit (loss) from continuing operations before income taxes	596	1,218	(622)	(21)
3 Income taxes	(123)	(226)	103	(46)
Profit (loss) from continuing operations	473	992	(519)	(52)
4 Profit (loss) from discontinued operations, net of income taxes	5	(11)	16	+++
Profit (loss) for the period	478	981	(503)	(21)
Attributable to:
Shareholders and hybrid capital investors of Infineon Technologies AG	478	081	(203)	(21)
Basic earnings per share (in euro) from continuing operations2	0.36	0.75	(0.39)	(52)
Basic earnings per share (in euro) from discontinued operations2		(0.01)	0.01	+++
Basic earnings per share (in euro)2	0.36	0.74	(0.38)	(21)
Diluted earnings per share (in euro) from continuing operations2	0.36	0.75	(0.39)	(52)
Diluted earnings per share (in euro) from discontinued operations2		(0.01)	0.01	+++
Diluted earnings per share (in euro)2	0.36	0.74	(0.38)	(21)

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

Consolidated Statement of Comprehensive Income

€ in millions		First half		Change
	2025	2024	absolute	in %
Profit (loss) for the period	478	981	(503)	(21)
Actuarial gains (losses) on pensions and similar commitments	46	(14)	60	+++
Total items that will not be reclassified subsequently to profit or loss	46	(14)	60	+++
Exchange rate effects	339	(194)	533	+++
Gains (losses) resulting from hedge accounting			(2)	(29)
Cost of hedging		6	(6)	---
Total items that may be reclassified subsequently to profit or loss	344	(181)	525	+++
Other comprehensive income (loss), net of tax	390	(195)	ર્ રજૂર	+++
Total comprehensive income (loss), net of tax	868	786	82	10
Attributable to:
Shareholders and hybrid capital investors of Infineon Technologies AG	868	786	82	10

Consolidated Statement of Financial Position

				Change
	Note	31 March	30 Sep-
		2025	tember	absolute	in %
€ in millions			2024
ASSETS
Cash and cash equivalents		1,215	1,806	(591)	(33)
Financial investments		472	395	77	19
Trade receivables		2,017	2,250	(233)	(10)
Inventories		4,333	3,990	343	9
Current income tax receivables		114	101	13	13
Contract assets		120	105	15	14
Other current assets		1,213	1,146	67	6
Assets classified as held for sale	4	119		119	+++
Total current assets		9,603	9,793	(190)	(2)
Property, plant and equipment2		8,189	8,002	187	2
Goodwill		7,028	6,797	231	3
Other intangible assets		2,736	2,820	(84)	(3)
Right-of-use assets		393	374	19	5
Investments accounted for using the equity		101	117
method				(16)	(14)
Non-current income tax receivables		1	1
Deferred tax assets		273	264	9	3
Other non-current assets		616	471	145	31
Total non-current assets		19,337	18,846	491	3
Total assets		28,940	28,639	301	1

				Change
€ in millions	Note	31 March 2025	30 Sep- tember 2024	absolute	in %
LIABILITIES AND EQUITY
Short-term financial debt and current portion of
long-term financial debt	5	400	500	(100)	(20)
Trade payables		1,974	1,990	(16)	(1)
Current provisions	6	530	698	(168)	(24)
Current income tax payables		219	301	(82)	(27)
Current lease liabilities		78	73	5	7
Current contract liabilities		104	75	29	39
Other current liabilities		1,468	1,509	(41)	(3)
Liabilities classified as held for sale	4	46		46	+++
Total current liabilities		4,819	5,146	(327)	(6)
Long-term financial debt	5	5,116	4,311	805	19
Pensions and similar commitments		237	303	(୧୧)	(22)
Deferred tax liabilities		183	177	6	3
Other non-current provisions	6	151	196	(45)	(23)
Non-current lease liabilities		296	284	12	4
Non-current contract liabilities		131	152	(21)	(14)
Other non-current liabilities		897	851	46	5
Total non-current liabilities		7,011	6,274	737	12
Total liabilities		11,830	11,420	410	4
Equity:	7
Ordinary share capital		2,612	2,612
Capital reserve		6,841	6,763	78	1
Retained earnings		7,031	6,978	53	1
Other reserves		194	(150)	344	+++
Own shares		(181)	(187)	6	(3)
Hybrid capital		613	1,203	(590)	(49)
Total equity		17,110	17,219	(109)	(1)
Total liabilities and equity		28,940	28,639	301	1

1 Property, plant and equipment includes assets with a carrying amount of €237 million (30 September 2024: €276 million) thatwere pledged as collateral for customer prepayments received in the reporting period.

Consolidated Statement of Cash Flows

		First half		Change
€ in millions	Note	2025	2024	absolute	in %
Profit (loss) for the period		478	981	(503)	(21)
Plus: profit (loss) from discontinued operations, net of income taxes	ব	(5)	11	(16)	---
Adjustments to reconcile profit (loss) for the period
to cash flows from operating activities:
Depreciation and amortization		970	922	48	5
Income taxes	3	123	226	(103)	(46)
Interest result		62	9	ਦੌਤ	+++
Losses (gains) on disposals of property, plant and equipment and intangible assets		(7)	7	(14)	---
Dividends received			ব	(4)	---
Impairments (reversals ofimpairments)	4, 12	229	40	189	+++
Losses (gains) from sales of businesses, interests in subsidiaries and investments		(10)		(10)	---
Share-based payment		87	60	27	45
Other non-cash result		(14)	17	(31)	---
Change in trade receivables		241	(7)	248	+++
Change in inventories		(368)	(443)	75	(17)
Change in trade payables		(13)	(749)	736	(98)
Change in provisions	6	(213)	(306)	ਰੇਤ	(30)
Change in other assets and other liabilities		(114)	184	(298)	---
Interests received		30	41	(11)	(27)
Interests paid		(67)	(52)	(15)	29
Income taxes paid	3	(232)	(346)	114	(33)
Cash flows from operating activities from continuing operations		1,177	599	578	ે રેણ
Cash flows from operating activities from discontinued operations			(1)	2	+++
Cash flows from operating activities		1,178	598	580	97

	First half		Change
Note € in millions	2025	2024	absolute	in %
Payments for the acquisition of financial investments	(3,636)	(3,752)	116	(3)
Proceeds from sales of financial investments	3,564	4,703	(1,139)	(24)
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	16		16	+++
Payments for the acquisition of interests in not consolidated companies and joint ventures	(64)	(21)	(43)
Proceeds from sales of interests in not consolidated companies or joint ventures			2	+++
Payments for the acquisition of other intangible assets	(139)	(141)	2	(1)
Payments for the acquisition of property, plant and equipment	(1,063)	(1,156)	ਰੇਤੇ	(8)
Proceeds from sales of property, plant and equipment, intangible assets and other non-current assets		5	4	80
Cash flows from investing activities	(1,311)	(1,164)	(147)	13
5 Proceeds from the assumption of short-term financial debt	400	1,100	(700)	(64)
5 Repayments of short-term financial debt		(350)	350	+++
5 Proceeds from the assumption of long-term financial debt	750	500	250	50
Repayments of long-term financial debt and hybrid capital 5,7	(1,100)		(1,100)
Net change in related party financial receivables and payables		12	(12)	---
Payments for lease liabilities	(46)	(36)	(10)	28
7 Payments for the acquisition of own shares		(233)	233	+++
7 Dividend payments	(455)	(456)	1
7 Payments to hybrid capital investors	(13)		(13)
Cash flows from financing activities	(464)	537	(1,001)
Net change in cash and cash equivalents	(597)	(29)	(268)
Currency effects on cash and cash equivalents		(2)	11	+++
Cash and cash equivalents at beginning of period	1,806	1,820	(14)	(1)
Cash and cash equivalents at end of period	1,215	1,786	(571)	(32)

... ..

Consolidated Statement of Changes in Equity

for the first half of the 2025 fiscal year

						Other reserves
€ in millions		Note Share capital	Capital reserves	Retained earnings	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 2024	7	2,612	6,763	6,978	(177)	25	2	(187)	16,016	1,203	17,219
Total comprehensive income (loss), net of tax
Profit (loss) for the period				462					462	16	478
Other comprehensive income (loss), net of tax				46	339	5			390		390
Total comprehensive income (loss), net of tax				508	339	5			852	16	868
Transactions with shareholders
Contributions by and distributions to shareholders
Dividends				(455)					(455)		(455)
Share-based payment			87						87		87
Settlement of share-based payment			(6)					ട
Other contributions and distributions			4						4
Total contributions by and distributions to shareholders			82	(455)				6	(364)		(364
Total transactions with shareholders			82	(455)				6	(364)		(364)
Transactions with hybrid capital investors
Payments to hybrid capital investors			(7)						(7)	(606)	(613)
Total transactions with hybrid capital investors			(7)						(7)	(୧୦୧)	(613)
Balance as of 31 March 2025		2,612	6,841	7,031	162	30	2	(181)	16,497	613	17,110

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	【	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					961	20	981
Other comprehensive income (loss), net of tax				(14)	(194)		ర్		(195)	-	(195)
Total comprehensive income (loss), net of tax				947	(194)	【	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			5						5
Total contributions by and distributions to shareholders			ਦੌਤ	(456)				(225)	(628)		(628)
Total transactions with shareholders			53	(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

Notes to the condensed Consolidated Interim Financial Statements

Basis of Presentation 1

The condensed Consolidated Interim Financial Statements of the Infineon Group ("Infineon"), comprising of Infineon Technologies AG (hereafter also "the Company") and its subsidiaries, for the first half of the 2025 fiscal year 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 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 2024 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 2024 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 2024. The application of these new or revised standards does not have an impact on Infineon's financial position, liquidity and financial performance.

In order to provide more meaningful information, the accounting policy was changed as of 1 October 2024 with regard to the allocation of certain expenses. This led to a reclassification of expenses from cost of goods sold to research and development expenses. The figures for the prior-year period have been adjusted accordingly, resulting in a reclassification of €86 million for the first half of the 2024 fiscal year.

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, liquidity and financial performance. All accruals recorded are of a normal recurring nature. The result for the interim period is not necessarily indicative of the result 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 7 May 2025.

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 and the tariff uncertainties.

Areas that contain estimates and assumptions are explained in more detail in note 2 to the 2024 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 7 May 2025.

2 Acquisitions

Acquisition of Marvell's Automotive Ethernet business

On 7 April 2025, Infineon and Marvell Technology, Inc., USA ("Marvell") have signed an agreement under which Infineon will acquire Marvell's Automotive Ethernet business for US\$2.5 billion in cash. Ethernet is a key enabling technology for low-latency, high-bandwidth communication, which is crucial for software-defined vehicles. Additionally, it has significant potential in adjacent fields of use such as humanoid robots. With this transaction, Infineon is accelerating the build-up of its system capabilities for software-defined vehicles, complementing and expanding its own market-leading microcontroller business. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close within the calendar year 2025.

To fund the planned acquisition, Infineon will incur additional debt and use existing liquidity. The financing comprises of two facilities, in the amount of €1 billion and US\$1 billion (see note 5 to the condensed Consolidated Interim Financial Statements).

For hedging the majority of the remaining foreign currency risk attributable to the purchase price obligation arising from the planned acquisition, contingent

(transaction-dependent) euro/US dollar foreign currency forwards (dealcontingent forwards) and a contingent (transaction-dependent) euro/US dollar foreign currency option (deal-contingent option), each with a nominal value of €500 million, were concluded.

3 Income taxes

In the first half of the 2025 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 expenses in the corresponding prior-year period were reduced by out-ofperiod effects from the reversal of tax provisions in the amount of €33 million.

		First half	Change
€ in millions	2025	2024	absolute	in %
Profit (loss) from continuing operations before income taxes	596	1,218	(622)	(51)
Income taxes	(123)	(226)	103	(46)
Effective tax rate	20.6%	18.6%	200 bp

4 Disposals and discontinued operations

Sale of 200-millimeter fab in Austin (USA)

On 26 February 2025, Infineon entered into an agreement to sell its 200millimeter fab in Austin (USA) to SkyWater Technology, Inc. ("SkyWater"). At the same time and in consideration of the sale, a supply contract with SkyWater was concluded for a period of four years. Both 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 supply contracts. The closing of the transaction is subject to the customary regulatory approvals in the USA. The transfer of the assets and liabilities sold is expected to take place in the third quarter of fiscal year 2025. In total, assets with a carrying amount of €217 million were reclassified to assets held for sale and liabilities with a carrying amount of €46 million were reclassified to liabilities held for sale. As the expected proceeds of sale, less costs

to sell and including deferred income, are below the carrying amount of the net assets, an impairment loss of €124 million was recognized and included in other operating expenses in the reporting period.

Sale of investment in SkyHigh Memory Limited (Hong Kong)

On 2 April 2025, the 40 percent share in SkyHigh Memory Limited (Hong Kong) was sold. The carrying amount of the investment accounted for using the equity method in the amount of €22 million was reclassified to assets held for sale as of 31 March 2025.

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 2024 Consolidated Financial Statements). The insolvency of Qimonda has given rise to various disputes between the insolvency administrator and Infineon, which were ended with the settlement determined by the court on 23 August 2024 (see note 24 to the 2024 Consolidated Financial Statements).

The court-approved settlement with the insolvency administrator of Qimonda dated 23 August 2024 (see note 24 to the 2024 Consolidated Financial Statements) resulted in a subsequent profit from discontinued operations, net of income tax, of €5 million in the first half of fiscal year 2025.

5 Financial debt

Financial debt consisted of the following:

	31 March	30 Septem-
€ in millions	2025	ber 2024
Loans payable to banks, weighted average interest rate 2.72%	400
Bond €500 million, coupon 0.625%, due 2025		500
Short-term financial debt and current portion of long-term financial debt	400	500
Bond €750 million, coupon 1.125%, due 2026	748	748
Bond €500 million, coupon 3.375%, due 2027	498	498
Bond €750 million, coupon 1.625%, due 2029	745	744
Bond €750 million, coupon 2.875%, due 2030	744
Bond €650 million, coupon 2.00%, due 2032	641	641
USPP notes US\$585 million, weighted average interest rate 4.18%, due 2026 - 2028	541	522
USPP notes US\$1,300 million, weighted average interest rate 2.88%, due 2027 - 2033	1,199	1,158
Long-term financial debt	5,116	4,311
Total	5,516	4,811

On 13 February 2025, as part of its EMTN (European Medium Term Notes) program, Infineon Technologies AG issued a non-subordinated, unsecured bond with a nominal value of €750 million, due in 2030, with a coupon of 2.875 percent per year. The bond is listed on the Luxembourg Stock Exchange.

The €500 million bond maturing on 17 February 2025 was repaid as scheduled.

In January 2025, S&P Global Ratings confirmed Infineon's investment grade rating of "BBB+" with a stable outlook.

On 4 February 2025, Infineon signed a committed €2 billion revolving credit facility with a tenor of five years and two one-year extension options each at the discretion of the lenders. In addition, there are uncommitted bilateral money market funding facilities with an aggregated amount of €1.7 billion. As per 31 March 2025, the facilities have been drawn in the amount of €400 million.

The total lines of credit as of 31 March 2025 and 30 September 2024 are summarized as follows:

			31 March 2025		30 September 2024
€ in millions	Nature of financial institution commitment	Aggregate facility	Drawn	Available	Aggregate facility	Drawn	Available
Short-term	uncommitted	1,727	400	1,327	2,226		2,226
Short-term	committed	13		13	13		13
Long-term	committed	2,000		2,000
Total		3,740	400	3,340	2,239		2,239

Furthermore, acquisition financing was concluded on 7 April 2025 to finance the planned acquisition of Marvell's Automotive Ethernet business (see note 2 to the condensed Consolidated Interim Financial Statements). The financing comprises of two facilities of €1 billion and US\$1 billion.

Provisions S

Current and non-current provisions consisted of the following:

		Change
31 March 2025	30 Septem- ber 2024	absolute	in %
435	558	(123)	(22)
117	222	(105)	(47)
65	62	3	5
64	52	12	23
681	894	(213)	(24)
530	698	(168)	(24)
151	196	(45)	(23)

7 Equity

The ordinary share capital of Infineon Technologies AG amounted to €2,611,842,274 as of 31 March 2025 (30 September 2024: €2,611,842,274), divided into 1,305,921,137 no par value registered shares (30 September 2024: 1,305,921,137), each representing €2 of the Company's ordinary share capital.

As of 31 March 2025, of the above-mentioned total number of issued shares, the Company held 6,529,906 own shares (30 September 2024: 6,757,925). In the first half of the 2025 fiscal year, 228,019 treasury shares were transferred to employees of Infineon and members of management or management boards of affiliated companies under the Restricted Stock Unit Plan (see note 22 to the 2024 Consolidated Financial Statements).

At the Annual General Meeting on 20 February 2025, 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 2024 fiscal year. Taking into account the non-entitlement to dividend of own shares, this resulted in a distribution of €455 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. The hybrid bond was issued in two perpetual tranches with a nominal amount of €600 million each. On 27 January 2025, Infineon Technologies AG called the first tranche in accordance with the contract and repaid it on 28 March 2025, including the compensation due for the first tranche. €606 million was recognized as a reduction of hybrid capital and €7 million as a reduction of the capital reserve. In addition, €3 million was recognized as interest expense for the period between termination and repayment.

The compensation to the hybrid capital investors is paid annually retrospectively on 1 April of each year, subject to repayment or redemption. In addition, €22 million was paid as compensation for the second tranche of the perpetual hybrid bond as scheduled on 1 April 2025.

For the purpose of calculating earnings per share, the profit for the period attributable to the shareholders of Infineon Technologies AG of €478 million was reduced to €467 million by the compensation to hybrid capital investors of €11 million (net of tax) in the first half of the 2025 fiscal year.

Other financial commitments oc

As at 31 March 2025, there were obligations of €1,507 million (30 September 2024: €1,949 million) from orders already placed for initiated or planned investment projects in property, plant and equipment (order commitments).

9 Legal risks

With regard to ongoing legal disputes and proceedings against Infineon and the associated risks, please refer to note 24 to the 2024 Consolidated Financial Statements.

10 Transactions with related companies and

persons

Infineon has transactions in the normal course of business with joint ventures, associates and other related companies (collectively, "related companies"). Related persons are persons in key management positions, in particular Management Board 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 2025 and 30 September 2024 consisted of the following:

		31 March 2025		30 September 2024
€ in millions	Joint ventures	Associates	Other related companies	Joint ventures	Associates	Other related companies
Trade and other receivables	5	1		10	1	1
Financial receivables			3			2
Trade and other payables	16		1	13		1
Financial payables

Sales and service charges to and products and services received from related companies for the first half of the 2025 and 2024 fiscal years consist of the following:

11 Additional disclosures on financial instruments

The classification of financial instruments in categories according to IFRS 9, the valuation methods and significant assumptions have not changed since 30 September 2024 and are described in detail in note 2 to the 2024 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 2024 Consolidated Financial Statements.

Current macroeconomic uncertainties, geopolitical instability as well as tariff disputes could have a direct and indirect impact 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 effect 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 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 2: valuation parameters whose prices are not those considered in 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 2025 and 30 September 2024 were as follows:

	Carrying amount	Measured at amortized cost	Measured at fair value (by categories)			Fair value
€ in millions			Level 1	Level 2	Level 3
31 March 2025
Current financial assets:
Cash and cash equivalents	1,215	472	743			1,215
Financial investments	472	3	469			472
Trade receivables	2,017	2,017				2,017
Other current financial assets	477	461		16		477
Non-current financial assets:
Other non-current financial assets	319	80	134	13	92	319
Total	4,500	3,033	1,346	29	92	4,500
Current financial liabilities:
Short-term financial debt and current portion of long-term financial debt	400	400		401		401
Trade payables	1,974	1,974				1,974
Other current financial liabilities	1,155	1,149				1,155
Non-current financial liabilities
Long-term financial debt	5,116	5,116	3,291	1,638		4,929
Other non-current financial liabilities	693	693				693
Total	9,338	9,332	3,291	2,045		9,152

	Carrying amount	Measured at amortized cost	Measured at fair value (by categories)			Fair value
€ in millions			Level 1	Level 2	Level 3
30 September 2024
Current financial assets:
Cash and cash equivalents	1,806	534	1,272			1,806
Financial investments	395	-	394			395
Trade receivables	2,250	2,250				2,250
Other current financial assets	450	434		16		450
Non-current financial assets:
Other non-current financial assets	264	100	127		37	264
Total	5,165	3,319	1,793	16	37	5,165
Current financial liabilities:
Short-term financial debt and current portion of long-term financial debt	500	500	495			495
Trade payables	1,990	1,990				1,990
Other current financial liabilities	1,197	1,195		2		1,197
Non-current financial liabilities
Long-term financial debt	4,311	4,311	2,547	1,597		4,144
Other non-current financial liabilities	702	702				702
Total	8,700	8,698	3,042	1,599		8,528

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 financial assets and other current financial 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 nonobservable input factors, they were assigned to the fair value category level 3.

Other non-current financial 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). Otherwise, the fair value of equity investments 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	Equity investments
30 September 2024	37
Acquisitions (including additions)2	62
Reclassification to level 2	(7)
31 March 2025	92

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

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 €0 million or an increase of €0 million.

Due to the change in input parameters when determining the fair value, one equity investment was reclassified from level 3 to level 2. There were no reclassifications between the levels in the same period of the previous year.

12 Segment reporting

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. The remaining activities of divested businesses and other business activities are included in Other Operating Segments. 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
€ in millions	2025	2024	2025	2024	2025	2024	2025	2024	2025	2024
Revenue from contracts with customers:
Automotive	3,610	3,821	1,747	1,967	1,616	1,554			247	300
Green Industrial Power	737	956	737	956		-				-
Power & Sensor Systems	1,966	1,820	1,167	1,130	115	81	684	୧୦୨		-
Connected Secure Systems	700	734			700	734				l
Subtotal	7,013	7,331	3,651	4,053	2,431	2,369	684	609	247	300
Other Operating Segments
Corporate and Eliminations
Total	7,014	7,334

Infineon Half-Year Financial Report 31 March 2025 Condensed Consolidated Interim Financial Statements

		First half	Change
€ in millions	2025	2024	absolute	in %
Segment Result:
Automotive	728	1,013	(285)	(28)
Green Industrial Power	72	219	(147)	(67)
Power & Sensor Systems	307	227	80	35
Connected Secure Systems	70	79	(a)	(11)
Other Operating Segments	-	(1)	1	+++
Corporate and Eliminations	(3)	1	(4)
Total	1,174	1,538	(364)	(24)

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

	First half		Change
€ in millions	2025	2024	absolute	in %
Segment Result:	1,174	1,538	(364)	(24)
Plus/minus:
Specific impairment reversals (impairments)	(229)	(37)	(192)
Gains (losses) from restructuring and closures	(35)	(13)	(22)
Share-based payment	(87)	(60)	(27)	45
Acquisition-related depreciation/amortization and other expenses	(183)	(216)	33	(15)
Gains (losses) on sales of businesses, or interests in subsidiaries	8		8	+++
Other income and expenses	(11)	(14)	3	(21)
Operating profit	637	1,198	(261)	(47)
Financial income	46	70	(24)	(34)
Financial expenses	(91)	(57)	(34)	60
Share of profit (loss) of associates and joint ventures accounted for using the equity method	4	7	(3)	(43)
Profit (loss) from continuing operations before income taxes	596	1,218	(622)	(21)

Of the €183 million "acquisition-related depreciation/amortization and other expenses" recorded in the first half of the 2025 fiscal year, €116 million was attributable to cost of goods sold, €3 million to research and development expenses, €67 million to selling, general and administrative expenses and minus €3 million to net other operating income and expense.

Of the impairment losses of €229 million, €124 million relates to the impairment of assets in connection with the sale of the 200 millimeter production facility in Austin (Texas) to SkyWater (see note 4 of the Condensed Consolidated Interim Financial Statements) and €105 million to impairment losses recognized in the course of the "Step Up" structural improvement program.

			Change
€ in millions	31 March 2025	30 Septem- ber 2024	absolute	in %
Inventories:
Automotive	2,158	2,036	122	6
Green Industrial Power	311	290	21	7
Power & Sensor Systems	972	909	63	7
Connected Secure Systems	366	344	22	6
Other Operating Segments
Corporate and Eliminations	526	411	115	28
Total	4,333	3,990	343	9

Entity-wide disclosures

Revenue by region for the first half of the 2025 and 2024 fiscal years was as follows:

	First half
€ in millions, except percentages	2025		2024
Europe, Middle East, Africa	1,674	24%	1,951	27%
therein: Germany	682	10%	871	12%
Asia-Pacific (excluding Japan, Greater China)	1,185	17%	1,170	16%
Greater China1	2,634	37%	2,463	33%
therein: Mainland China, Hong Kong	1,989	28%	1,958	27%
Japan	622	9%	738	10%
America	899	13%	1,012	14%
therein: USA	744	11%	822	11%
Total	7,014	100%	7,334	100%

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

Neubiberg, 7 May 2025

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 financial position, liquidity and financial performance 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, 7 May 2025

Jochen Hanebeck Dr. Sven Schneider

Elke Reichart Andreas Urschitz Dr. Rutger Wijburg TRANSLATION - German version prevails

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 2024 to 31 March 2025 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 IFRS® Accounting Standards (IFRS) issued by the International Accounting Standards Board (IASB) 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 Accounting Standards 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 been prepared, in all material respects, in accordance with the IFRS Accounting Standards 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, 7 May 2025

Deloitte GmbH

Wirtschaftsprüfungsgesellschaft

Alexander Hofmann Christoph Schenk

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

Thursday, 8 May 2025 Publication date of half-year financial report as of 31 March 2025

Tuesday, 5 August 20251 Publication of third quarter 2025 results

Thursday, 13 November 20251 Publication of fourth quarter and fiscal year 2025 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: [email protected]

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

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Infineon Technologies AG

222_rns_2025-05-08_cdead8e7-fe28-4a9b-ae9b-3ea5495a21a9.pdf

Half-Year Financial Report 31 March 2025

Content

Selected consolidated key data

Interim Group Management Report

Group performance in the first half of the 2025 fiscal year

Operating segment performance in the first half of the 2025 fiscal year

Automotive

C02

Green Industrial Power

Power & Sensor Systems

Connected Secure Systems

The Infineon share

Review of business environment

Review of financial performance

Negative price effects and inventory corrections by customers have resulted in lower revenue

Regional distribution of revenue

Cost of goods sold remains stable

Operating costs on par with the prior-year period

Net amount of other operating income and

expenses

Financial result

Effective tax rate up to 20.6 percent

Decrease in profit for the period and corresponding decrease in earnings per share

Decrease in adjusted earnings per share

Review of financial position

Decrease in the gross cash position

Increase in inventories

Ongoing expansion of frontend manufacturing results in an increase in property, plant and equipment

Currency-related increase in goodwill

Increase in remaining current and non-current assets

Assumption of financial debt

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

Equity ratio remains at a high level

Review of liquidity

Cash Flow

Increase in Free Cash Flow and adjusted Free Cash Flow

Gross cash position and net cash position

Employees

Outlook for the 2025 fiscal year

Risks and Opportunities

Condensed Consolidated Interim Financial Statements

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

for the first half of the 2025 fiscal year

Consolidated Statement of Changes in Equity

for the first half of the 2024 fiscal year

Notes to the condensed Consolidated Interim Financial Statements

Basis of Presentation 1

Estimates and assumptions

2 Acquisitions

Acquisition of Marvell's Automotive Ethernet business

3 Income taxes

4 Disposals and discontinued operations

Sale of 200-millimeter fab in Austin (USA)

Sale of investment in SkyHigh Memory Limited (Hong Kong)

Qimonda - discontinued operations

5 Financial debt

Provisions S

7 Equity

Other financial commitments oc

9 Legal risks

10 Transactions with related companies and

persons

Related companies

11 Additional disclosures on financial instruments

12 Segment reporting

Identification of the segments

Segment information

Infineon Half-Year Financial Report 31 March 2025 Condensed Consolidated Interim Financial Statements

Entity-wide disclosures

Responsibility Statement by the Management Board

Review Report

Deloitte GmbH

Wirtschaftsprüfungsgesellschaft