Interim Announcement in Accordance with Section 37X Wphg for the Period from April 1, 2013, to August 14, 2013

Interim Announcement in Accordance with Section 37x WpHG for the Period from April 1, 2013, to August 14, 2013

OSRAM Licht AG OSRAM Licht AG 02 Background to the Spin-off Interim Announcement from Siemens AG and Other Changes

This interim announcement of OSRAM Licht AG relates to According to the Spin-off and Transfer Agreement dated OSRAM Licht Group’s course of business for the three November 28, 2012, Siemens undertook—subject to the and nine months ended June 30, 2013, and contains infor- contract taking effect—to transfer in the form of a spin-off by mation for the reporting period until the filing of the interim way of absorption in accordance with section 123 (2) no. 1 announcement for publication on August 14, 2013. of the Umwandlungsgesetz (Umwg—“German Reorganiza- tion and Transformation Act”) its entire interest in OSRAM On March 28, 2011, Siemens AG (“Siemens”) announced its Beteiligungen Gmbh, including all rights and duties, to plan to publicly list OSRAM’s operating business. In view OSRAM Licht AG in return for the issue of shares in OSRAM of market conditions, Siemens decided in June 2012 to pre- Licht AG to the Siemens shareholders. The General Meeting pare, in parallel and alternatively to the plan for an initial of Siemens and the General Meeting of OSRAM Licht AG public offering, an offering in the form of a spin-off, by issu- approved the Spin-off and Transfer Agreement on January 23, ing OSRAM shares to the shareholders of Siemens AG 2013, and January 21, 2013, respectively. An action for and subsequently listing these shares. In November 2012, avoidance and rescission was brought against this resolution Siemens decided to conduct a spin-off and canceled its of the General Meeting of Siemens, which initially prevented former plans for an initial public offering. The spin-off took its entry in the Commercial Register. At the beginning of effect as of its last entry in the Commercial Register on March 2013, eight shareholders filed actions for avoidance July 5, 2013. OSRAM shares were listed for the first time on and rescission of the resolution by the General Meeting July 8, 2013. of Siemens AG at the Munich Local Court I. On April 10, 2013, the Higher Regional Court in Munich established in clear- OSRAM Licht AG (until November 14, 2012: Kyros A AG) ance proceedings in accordance with sections 16 (3) and 125 Munich, Germany, is the issuer of the shares and the parent of the Umwg that these actions were not sufficient to prevent company of the OSRAM Group that was formed by the entry of the spin-off in the Commercial Register. The spin- spin-off. off took effect as of its final entry in the Commercial Register on July 5, 2013. OSRAM Licht AG and OSRAM Beteiligungen Gmbh were incorporated in fiscal 2012 and did not have any significant Change of legal form to OSRAM Gmbh operating activities during the reporting period. Following The Extraordinary General Meeting on October 5, 2012, the completion of the spin-off, OSRAM Licht AG is the parent resolved to change the legal form of OSRAM AG into a limited company of the OSRAM Group and directly holds 100 % of liability company, OSRAM Gmbh. The change in the legal the shares of OSRAM Beteiligungen Gmbh and 19.5% of the form from OSRAM AG to OSRAM Gmbh, Munich, became shares of OSRAM Gmbh, while OSRAM Beteiligungen legally effective on its entry in the Commercial Register Gmbh holds 80.5% of the shares of OSRAM Gmbh. With on October 25, 2012. The previously issued capital stock of economic effect from October 1, 2012, Siemens AG con OSRAM AG in the amount of € 562,940,000 was converted tributed this 80.5 % of its interest in OSRAM Gmbh (which at into the capital stock of OSRAM Gmbh. 562,940,000 shares this date was still OSRAM AG) to OSRAM Beteiligungen with a notional value of € 1.00 each were issued. Gmbh by way of a capital contribution against the issue of new shares in OSRAM Beteiligungen Gmbh plus a payment of € 25 thousand to Siemens.

At the Extraordinary General Meeting of OSRAM Licht AG held on November 28, 2012, Siemens, as the sole shareholder of OSRAM Licht AG, resolved, with retrospective economic effect from October 1, 2012, to contribute its 19.5 % interest in OSRAM Gmbh to OSRAM Licht AG by way of a capital contribution against the issue of new shares in OSRAM Licht AG plus a payment of € 50 thousand to Siemens. The resolution took effect as of its entry in the Commercial Register on February 11, 2013. OSRAM Licht AG 03 Interim Announcement

Appointment of the managing directors and Managing OSRAM is a leading global provider of lighting products and Board solutions and operates worldwide via a number of legal On October 9, 2012, the supervisory board of the former entities. Prior to the formal appointment of the managing OSRAM AG, now OSRAM Gmbh, appointed Mr. Wolfgang directors of OSRAM Gmbh to the Managing Board of Dehen and Dr. Klaus Patzak as managing directors of OSRAM Licht AG on November 8, 2012, the OSRAM Licht OSRAM Gmbh, effective as of the entry of the change in the Group was managed centrally by the managing directors legal form in the Commercial Register. On November 29, of OSRAM Gmbh. 2012, the supervisory board appointed Dr. Peter Laier as a managing director of OSRAM Gmbh with effect from Janu- ary 1, 2013.

The Extraordinary General Meeting on November 8, 2012, appointed Mr. Wolfgang Dehen and Dr. Klaus Patzak as members of the Managing Board of OSRAM Licht AG. On December 21, 2012, the Supervisory Board of OSRAM Licht AG appointed Dr. Peter Laier as a member of the Managing Board of OSRAM Licht AG with effect from January 1, 2013. OSRAM Licht AG 04 OSRAM Overview Interim Announcement

OSRAM Licht Group For the three and nine months ended June 30, 2013 and 2012 Three months ended June 30, Nine months ended June 30, 2013 2012 Change 2013 2012 Change Revenue in € million 1, 278 .4 1,297.9 (1.5) % 3,956.7 4,028.6 (1. 8 ) % Revenue growth (comparable) 1) 2) in % 2.2 % 0.6 % EBITA 2) in € million 2 2.1 5.9 > 200 % 123.7 43.9 181.7 % as % of revenue (EBITA margin) 1.7 % 0.5 % 3 .1% 1.1% therein special items 2) in € million (72.5) ( 6 9 .1) 4.9 % (178 .1) ( 2 5 7. 0 ) (30.7) % Transformation costs in € million (63.5) (43.2) 4 7. 0 % (189.8) (183.2) 3.6 % Costs associated with the separation/ for going public (net) in € million (9.0) ( 17. 3 ) (48.0) % 11.7 (4 3 .1) n/a Legal and regulatory matters in € million – (8.6) n/a – (30.7) n/a EBITDA 2) in € million 111.8 68.0 64.5 % 358.9 315.5 13.8 % Income (loss) before income taxes in € million 41.8 (24.6) n/a 94.3 (169.9) n/a QuartalsübersichtNet income (loss) Umsatz in € million 13.7 Quartalsübersicht 54.9 (75.0) EBITA % 62.2 ( 272.1) n/a ROCE 2) in % Return on capital employed ( ) Geschäftsjahr2.3 % 7.0 % 3.6 % (9.3) % Geschäftsjahr Freein Mio. cash € flow 2) in € million 2012 10 2013 8 .1 in Mio. € 94.5 14.4 % 199.4 (315.5) 2012 2013n/a

3,3 % 8,7 % June 30, September7, 4 % 30, Vergleich bares 1,8 % 2,2 % 0,6 % 0,3 % 0,5 % 20130,5 % 20120,1% 1,7 Change% Wachstum 1) EBITA-Marge 2) Cash and cash equivalents – 0,7 % in € million 297.8 31. 2 > 200 % – 6,0 % – 3,0 % Total equity in € million 2,202.4 1,949.6 13.0 % Total assets in € million 4,879.7 5,066.9 (3.7) % 1.374,6 1.356,1 1. 3 7 1, 2 1.356,8 1. 3 2 1, 5 119, 9 1. 2 9 7, 9 1. 2 7 8 , 4 100,4 Equity ratio (total equity in % of total assets) in % 4 5 .1% 38.5 % Net debt/net liquidity 2) in € million 10 7. 9 (595.3) n/a as % of EBITDA 3) 0.2 (1.5) 2 2 ,1 5,9 6,9 1, 2 Adjusted net debt 2) in € million (315.9) (1,094.5) ( 71.1) % as % of EBITDA 3) (0.7) (2.8) Employees FTE 35,494 39,194 (9.4) % of which in Germany –FTE 8 1, 9 9,745 10,027 (2.8) % of which outsideQ1 GermanyQ2 Q3 Q4 Q1 Q2 Q3 Q1 FTEQ2 Q3 25,749Q4 Q1 29,167Q2 Q3(11.7 ) %

1) Adjusted for currency and portfolio effects. 2) See glossary. 3) EBITDA for the nine months ended June 30, 2013 was annualized for calculation purposes only; that is not necessarily indicative for management’s expectation of future results.

The OSRAM Licht Group’s fiscal year began on October 1, 2012, and ends on September 30, 2013.

Revenue by Quarters EBITA by Quarters Fiscal Fiscal in € million 2012 2013 in € million 2012 2013

3.3 % 8.7 % 7. 4 % Comparable 1. 8 % 2.2 % 0.6 % 0.3 % 0.5 % 0.5 % 0.1% 1.7 % growth 1) EBITA margin 2) (0.7) % (6.0) % (3.0) %

1,374.6 1, 3 5 6 .1 1, 3 71. 2 1, 3 5 6 . 8 1, 3 2 1. 5 119. 9 1, 2 9 7. 9 1, 2 7 8 . 4 10 0 . 4

22 .1 5.9 6.9 1. 2

– 8 1. 9

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3

1) Adjusted for currency and portfolio effects (see glossary), and compared with the respective prior-year quarter. 2) Special items (see glossary) of Q3 2013: 570 bps (Q3 2012: 530 bps). OSRAM Licht AG 05 Interim Announcement

With its mission statement “Light is OSRAM,” OSRAM delivers lighting solutions for every facet of life. As an integrated lighting expert, we are the number two among the global companies in the lighting market. We offer vertically integrated products and solutions along the entire lighting value chain, from light sources—including lamps, components, and optical semiconductors—through ballasts and other light compo nents, to complete luminaires, light management systems and lighting solutions as well as value-added services.

UmsatzLamps nach Segmenten& Components1) (LC) LuminairesEBITA nach Segmenten &1) Solutions (LS) Drei Monate bis 30. Juni Drei Monate bis 30. Juni Thein Mio. LC € segment comprises the product business with lamps, 2012 light 2013 engines, Thein Mio. LS € segment comprises OSRAM’s project and solutions 2012 business. 2013 and ballasts. This segment therefore includes both traditional lamps and The portfolio comprises luminaires for professional applications such 17, 5 % SSL-based lamps for private and professional use as well as electronic as street lighting and architectural lighting as15,4 well % as solutions13,5 %for 13,5private % Wachstum 4,8 % 16,8 % 12,4 % ballasts,vergleichbar components 2) for LED systems, and light management2,9 % systems. EBITA-Margeend users. In 3) addition, LS offers lighting solutions and associated – 0,9 % – 1,3 % nominal – 5,6 % – 3,9 % The products thus cover– 7,0 %a number of application areas, such as residential, light management systems that are used in internal and external lighting. – 6,6 % – 18,0 % – 18,0 % office, industrial, gastronomy, outdoor, and architectural. Installation and maintenance services for the LS product portfolio are 649,0 covered by the Services business. 53,6 603,7 44,5 3 7, 6 32,2

Specialty Lighting (SP348,5) 358,7 Opto Semiconductors (OS) 279,2 The SP segment offers light sources and systems for the automotive238,9 OS offers a broad portfolio of optoelectronic semiconductors for external sector as well as special applications in the display/optic area. In the auto- customers and for other OSRAM businesses. The products offered 14 0 ,1 13 0, 8 – 7,7 motive sector, the spectrum ranges from interior and exterior lighting all include LED components for visible light, infrared components, laser the way to sensing. Display/optic covers the areas of projection and enter- diodes, and sensors.– 25,5 The application– 25,2 – 23,5 spectrum extends from the tainment/architainment as well as medical and industrial applications. automotive industry, industry electronics, general lighting, and con- LC LS SP OS LC LS SP OS The products are sold via the wholesale trade and OEM channels as well sumer and communication electronics to medical technology, materials as directly to commercial customers. processing, and measurement and printing technology.

Revenue by Segments1) EBITA by Segments1)

Three months ended June 30, Three months ended June 30, in € million 2012 2013 in € million 2012 2013

17. 5 % 15.4 % 13.5 % 13.5 % Growth 4.8 % 16.8 % 12.4 % comparable 2) 2.9 % EBITA margin 3) (0.9) % (1.3) % nominal (5.6) % (3.9) % ( 7. 0 ) % (6.6) % (18.0) % (18.0) %

649.0 53.6 603.7 44.5 3 7. 6 32.2

348.5 358.7 279.2 238.9

140.1 130.8 – 7.7

– 25.5 – 25.2 – 23.5

LC LS SP OS LC LS SP OS

1) In addition to the four reporting segments, the reconciliation is part of the OSRAM reporting structure. Therein included are corporate items and pensions, which management does not consider to be indicative for the segments’ performance, and the consolidation of transactions between the segments, certain reconciliation and reclassification items, and the operations of corporate treasury. Including the reconciliation items, OSRAM revenue amounts to €1,278.4 million (2012: € 1,297.9 million), and OSRAM EBITA amounts to € 22.1 million (2012: € 5.9 million). 2) Adjusted for currency and portfolio effects (see glossary). 3) Special items (see glossary) Q3 2013: LC 610 bps (Q3 2012: 530 bps); LS 290 bps (Q3 2012: 240 bps); SP 340 bps (Q3 2012: 130 bps) OSRAM Licht AG 06 Overview of Interim Announcement the Third Quarter Umsatzentwicklung nach Quartalen Geschäftsjahr in Mio. € 2012 2013

3,3 % Wachstum 1,8 % 2,2 % of Fiscal 2013 0,6 % 0,3 % vergleich bar 1) – 0,7 % – 3,0 %

1.374,6 1.356,1 1. 3 7 1, 2 1.356,8 “We can look back on a successful listing and a good1. 2 9 7, 9 third quarter.1. 3 2 1, 5 1. 2 7 8 , 4 We succeeded in increasing adjusted EBITA substantially while returning to comparable revenue growth. Our transformation effort continues to make rapid progress; we are ahead of schedule regarding the planned savings. For the current fiscal year, we are raisingQ1 Q2 ourQ3 earningsQ4 Q1 outlookQ2 Q3 slightly and now expect a positive net income.” Wolfgang Dehen, Chairman of the Managing Board of OSRAM Licht AG

EBITA-Entwicklung nach Quartalen

Geschäftsjahr OSRAM Licht Group—Back to profitable growth OSRAM Revenuein Mio. € Development by Quarters 2012 2013 turned in a good performance in a challenging macroeco- 8,7 % 7, 4 % Fiscal 0,5 % 0,5 % 0,1 % 1,7 % nomic environment in the third quarter of fiscal 2013. Revenue EBITA-Margein € million 2012 2013 3.3 % – 6,0 % rose 2.2 % year-on-year on a comparable basis—excluding Growth 1.8 % 2,2 % 0.6 % 0.3 % portfolio and currency effects—to almost € 1.3 billion. In nomi- comparable 1) 119, 9 (0.7) % nal terms, revenue declined by 1.5 %. (3.0) % 100,4

1,374.6 1, 3 5 6 .1 1, 3 7 1. 2 1, 3 5 6 . 8 1, 2 9 7. 9 1, 3 2 1. 5 EBITA reached € 22.1 million in the third quarter of 2013, result- 1,2 27 8,1 . 4 5,9 6,9 1, 2 ing in an EBITA margin (EBITA in % of revenue) of 1.7 %, compared with € 5.9 million and 0.5 %, respectively, in the prior-year quarter. This figure includes special items of € 72.5 million (Q3 2012: € 69.1 million), particularly transforma- – 8 1, 9 tion costs. The special items lowered the EBITA margin Q1 Q2 Q3 Q4 Q1 Q2 Q3 by 570 basis points in the three months ended June 30, 2013 (Q3 2012: 530 basis points). These positive figures reflect the Q1 Q2 Q3 Q4 Q1 Q2 Q3 effects of the Group’s transformation, which has been on- 1) Adjusted for currency and portfolio effects, and compared with the respective going since 2012 and is well on schedule. The financial result prior-year quarter. benefited from a book gain of € 35.1 million on the intended sale of our share in the Valeo Sylvania LLC, Seymour, Indiana, EBITA Development by Quarters U.S.A. (“Valeo Sylvania”) joint venture, leading to net income Fiscal of € 13.7 million (Q3 2012: € 54.9 million). in € million 2012 2013 8.7 % 7. 4 % 0.5 % 0.5 % 0.1% 1.7 % EBITA margin

(6.0) %

119. 9 100.4

22.1 5.9 6.9 1. 2

( 81. 9 )

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Umsatz nach Regionen1) (nach Sitz des Kunden)

Drei Monate bis 30. Juni in Mio. € 2012 2013

5,3 % 4,3 % Wachstum – 4,3 % vergleichbar 2) 3,3 % nominal – 2,3 % – 4,7 %

503,0 519, 5 455,8 434,2

3 3 9 ,1 324,6 OSRAM Licht AG 07 Interim Announcement

EMEA APAC Americas

Umsatz nach Technologie

Drei Monate bis 30. Juni in Mio. € 2012 2013

Revenue by Regions16,91) (by % customer location) In regional terms, the highest revenue growth on a compara- Wachstum 15,1% vergleichbar 2) Three months ended June 30, ble basis was recorded in the APAC reporting region, thanks nominal – 3,0 % in € million – 7,5 % 2012 2013 in particular to strong demand for opto semiconductor com- 5.3 % 4.3 % ponents. OSRAM’s business in the EMEA region made Growth (4.5) % 3.3 % 955,7 comparable 2) 884,4 moderate gains in the reporting period despite continuing nominal (2.3) % (4.7) % economic uncertainty in the eurozone. In the Americas region, by contrast, declines were registered. The share of 503.0 519.5 394,0 455.8 semiconductor-based products (“Solid State Lighting” or 342,3 434.2 SSL) in total revenue increased to 30.8 % in the third quarter 3 3 9 .1 324.6 compared with 26.4 % in the prior-year quarter, thus under- scoring OSRAM’s leading role in the transition to LED. SSL-Produkte Traditionelle Produkte ––APAC with comparable growth of 5.3 % year-on-year, which was driven by a significant revenue increase for OS. ––Comparable revenue growth of 4.3 % in EMEA despite the Umsatz nach SegmentenEMEA 3) APAC Americas decline in southern Europe.

Drei Monate bis 30. Juni ––Revenue trend in the Americas suffered from declining in Mio. € 2012 2013 service business. Revenue by Technology 17,5 % Wachstum 4,8 % 16,9 % vergleichbar 2) 2,9 % – 0,9 % Three months ended June 30, Lamps & Components (LC)—Positive effects of OSRAM nominal – 5,6 % in € million – 7, 0 % 2012 2013 – 6,6 % Push on the margin The largest segment LC, which covers 16.9 % the product business with lamps, light engines, and ballasts, Growth 649,0 15 .1% comparable 2) 603,7 is benefiting from the ongoing transformation, which is also nominal (3.0) % (7.5) % reflected in an improved EBITA margin. The sales decline on a comparable basis slowed as the share of semiconductor- 955.7 348,5 358,7 884.4 279,2 based products again increased. 238,9 ––Revenue growth in EMEA outweighed by declines in APAC 14 0 ,1 130,8 and the Americas.

394.0 ––Another rise in the revenue share of SSL products. 342.3 LC LS SP OS Luminaires & Solutions (LS)—Segment trend indicates need to restructure The LS segment comprises luminaires SSL products Traditional products for professional customers, products for consumers, as well as the service and solution business. LS again posted a considerable loss in the third quarter due to structural Revenue by Segments 3) challenges combined with declining revenues. Measures to

Three months ended June 30, improve the segment’s performance are currently under in € million 2012 2013 review. 17.5 % ––Lower comparable revenue compared with the prior year Growth 4.8 % 16.9 % comparable 2) 2.9 % (0.9) % due to weaker service business in the U.S.A., which nominal (5.6) % ( 7. 0 ) % (6.6) % was only partially compensated by significant growth in SSL outdoor luminaires. 649.0 603.7 ––Revenue growth in EMEA and APAC outweighed by declines in the Americas. ––EBITA margin benefited from positive trend in the lumi- 348.5 358.7 279.2 naires business in the reporting quarter, but was negatively 238.9 impacted by the service business. 14 0.1 130.8 ––Profitability in the third quarter at prior-year level; transformation costs expected in the coming quarters. LC LS SP OS

1) See glossary. 2) Adjusted for currency and portfolio effects. 3) The revenues disclosed comprise external and intersegment revenue (total revenue). Including the reconciliation of € – 94.0 million (2012: € – 78.6 million), OSRAM revenue amounts to € 1,278.4 million (2012: € 1,297.9 million). EBITA nach Segmenten

Drei Monate bis 30. Juni in Mio. € 2012 2013

15,4 % 12,4 % 13,5 % 13,5 % EBITA-Marge – 3,9 % – 1, 3 % – 18,0 % – 18,0 %

53,6 44,5 3 7, 6 32,2 OSRAM Licht AG 08 Interim Announcement

– 7,7

– 25,5 – 25,2 – 23,5

LC LS SP OS

Free Cash Flow nach Quartalen

Geschäftsjahr in Mio. € 2012 2013

Specialty Lighting (SP)—Continuous revenue growth, EBITA by Segments special items lead to margin decline of over 300 basis points Three months ended10 June 8 ,1 30, 95,8 94,5 92,9 The SP segment, which addresses the automotive lighting in € million 89,9 2012 2013 and display/optics markets, sustained its growth trend and 15.4 % 12.4 % 13.5 % 13.5 % was able to increase revenue by 4.8 % on a comparable EBITA margin 1, 4 (3.9) % (1. 3 ) % basis, particularly through gains in the Americas and EMEA (18.0) % (18.0) % regions. Growth stemmed from the business with LED- 53.6 based products, especially. The EBITA margin was 12.4 %, 44.5 3 7. 6 reflecting special items that lowered the margin by 340 basis 32.2 points. ––Revenue growth again driven by LED-based products and – 505,8 gas-discharge lamps for the automotive sector. Q1 Q2 Q3 Q4 Q1 Q2 Q3 (7.7) ––Clear growth in the Americas, improvement in EMEA (despite the still soft European automotive market), but (25.5) (25.2) (23.5) decreasing revenue due to declining projection lamp LC LS SP OS business. ––EBITA of SP impacted by impairment loss on non-current assets for the production of pre-materials in connection Free Cash Flow by Quarters with the trends expected in the traditional general lighting Fiscal business in particular. in € million 2012 2013

Opto Semiconducturs (OS)—Exceptional revenue growth 10 8 .1 95.8 94.5 92.9 and high profitability With an exceptional 17.5 % increase 89.9 in revenue on a comparable basis, the business with opto- semiconductor components posted the highest growth 1. 4 of the four reporting segments in the third quarter, thanks to strong demand across all regions and almost all businesses. The EBITA margin reached a high level of 13.5 %. In view of the strong quarter, total revenue in the OS business is expected to pass the billion-euro mark in the current fiscal year for the first time ever. (505.8) ––Revenue growth driven by the LED component business Q1 Q2 Q3 Q4 Q1 Q2 Q3 for general lighting applications and for communications markets. ––Growth in all regions, especially in APAC. ––Third-quarter EBITA driven by economies of scale, pro ductivity, and a favorable product mix; prior-year quarter had benefited from licensing revenues.

Free Cash Flow—Strong quarter The sharp increase in EBITDA saw free cash flow rise by14 .4 % as against the prior-year quarter, despite the slight increase in capital expenditures. The year-on-year increase is attributable to funds released from net working capital, compared with funds tied up in the second quarter of fiscal 2013. OSRAM Licht AG 09 Development in the Interim Announcement Nine Months ended June 30, 2013

Results of Operations

Revenue development ventures with Mitsubishi and Toshiba in Japan. Excluding In the first nine months of fiscal 2013, our revenue trend was portfolio and currency translation effects, revenue was shaped by an economic climate that showed only slow cautiously positive on a level with the previous year. The fun- stabilization. Uncertain prospects for the global economy led damental structural trend toward SSL business continued. to regionally different trends. Revenue declined by 1.8 %, dropping from € 4,028.6 million in the first nine months of fiscal At segment level, the revenue growth at OS and SP was 2012 to € 3,956.7 million in the first nine months of fiscal unable to fully offset the decreases in the LC and LS 2013. The decrease was affected by negative portfolio effects segments. The performance of the individual segments is of 2.1% resulting from the disposal of our shares in the joint described in more detail in Segment Information.

Revenue by Segments Nine months ended June 30, Change thereof in € million 2013 2012 nominal comparable Currency Portfolio Lamps & Components 1, 9 6 6 . 6 2,099.3 (6.3) % (1.8) % (0.5) % (4.0) % Luminaires & Solutions 406.5 4 4 8 .1 (9.3) % (9.4) % 0.2 % ( 0 .1) % Specialty Lighting 1, 0 8 6 .7 1, 0 4 3 .1 4.2 % 4.5 % (0.3) % – Opto Semiconductors 749.6 654.8 14.5 % 14 .1% 0.4 % – Reconciliation (252.7) (216.7) 16.6 % 16.4 % 0.5 % (0.2) % OSRAM 3,956.7 4,028.6 (1.8) % 0.6 % (0.3) % ( 2.1) %

While the EMEA region achieved modest revenue growth northern Europe due to the impact of financial and politi- in the nine months of fiscal 2013 compared with the cal crises. prior-year period—particularly due to the positive trend at OS—revenue declined year-on-year in the APAC and In the APAC region, revenue decreased by 2.3 % to Americas regions. However, APAC did generate growth € 946.3 million in the first nine months of fiscal 2013, down of 6.5 % on a comparable basis. from € 968.6 million in the previous year. The decline was attributable to clear portfolio effects of – 8.8 % resulting from The EMEA region saw a modest increase in revenue the disposal of our shares in the joint ventures with Mitsu of 1.4 % in nominal terms, with a rise from € 1, 679.0 million bishi and Toshiba in Japan. However, these effects were off- in the relevant prior-year period to € 1,70 2.0 million in set to a significant extent by growth in other countries, the first nine months of fiscal 2013. Growth in EMEA particularly China, for which the OS and SP businesses were was driven by the trend in northern Europe, while south- primarily responsible. On a comparable basis, revenue ern Europe and the Middle East lagged well behind registered clear growth of 6.5 %.

Revenue by Regions 1) Nine months ended June 30, Change thereof in € million 2013 2012 nominal comparable Currency Portfolio EMEA 1,70 2.0 1,679.0 1.4 % 1.4 % 0.0 % – thereof Germany 559.7 5 31.1 5.4 % 5.4 % – – APAC 946.3 968.6 (2.3) % 6.5 % 0.0 % (8.8) % thereof China 225.7 203.8 10.7 % 9.5 % 1.3 % – Americas 1,3 0 8.3 1,381.0 (5.3) % (4.5) % (0.8) % – thereof U.S.A. 920.0 981.5 (6.3) % (6.9) % 0.6 % – OSRAM 3,956.7 4,028.6 (1.8) % 0.6 % (0.3) % ( 2.1) %

1) Revenue by customer location. OSRAM Licht AG 10 Interim Announcement

Revenue in the Americas region decreased by 5.3 %, to the comparatively strong first nine months of fiscal 2012, declining from € 1, 3 81.0 million in the first nine months of which had benefited from major projects in the service fiscal2012 to € 1, 3 0 8 .3 million in the first nine months business in the Luminaires & Solutions segment. The positive of fiscal2013 . The decline was mainly the result of lower business trend in South America was offset by negative demand in the U.S.A. This was due among other things currency effects.

Revenue by Technology Nine months ended June 30, Change thereof in € million 2013 2012 nominal comparable Currency Portfolio SSL products 1,111.7 1,0 0 2.0 10.9 % 12.2 % 0 .1 % (1.4) % Share of SSL products of revenue 2 8 .1 % 24.9 % Traditional products 2,845.0 3,026.6 (6.0) % (3.3) % (0.4) % (2.4) % Share of traditional products of revenue 71.9 % 75 .1 % OSRAM 3,956.7 4,028.6 (1.8) % 0.6 % (0.3) % ( 2.1) %

Revenue generated from SSL products rose by 10.9 % in the nine months of fiscal 2013 just ended, thus contributing 28.1% to revenue. The upward trend was supported by the positive course of business at OS and, to a lesser extent, by the growth in forward-integrated SSL products. OSRAM Licht AG 11 Interim Announcement

Development of major items of the statement of income

Gross Profit Nine months ended June 30, Change in € million 2013 2012 nominal Revenue 3,956.7 4,028.6 (1.8) % Cost of goods sold and services rendered (2,827.1) (2,961.4) (4.5) % Gross profit 1,129.6 1,067.2 5.8 % in % of revenue 28.5 % 26.5 %

Gross profit increased by 5.8 %, rising from € 1, 0 67.2 million to the improvement in the gross profit margin, in particular in the first nine months of fiscal 2012 to € 1,12 9.6 million Opto Semiconductors as well as the improved gross in the same period of fiscal 2013. The gross profit margin profit margin for forward-integrated SSL products, although (gross profit as a percentage of revenue) rose from 26.5 % it was still significantly lower than in the traditional busi- in the first nine months of fiscal 2012 to 28.5 % in the first ness. Additionally, costs of € 30.7 million in connection with nine months of fiscal 2013. The increase was due to the rise a license and trademark litigation burdened previous in gross profit in all four segments, with LC in particular year’s earnings. Furthermore, in connection with contract also benefiting from lower transformation costs compared changes, certain allowances to purchasing associations with the previous year (in particular expenses for person- were presented in Marketing, selling, and general adminis- nel-related restructuring measures related to the “Future trative expenses in the first nine months of fiscal 2013 that Industrial Footprint” project and expenses for more efficient had been reported within gross profit in the prior-year structures in the production, and expenses for impairment period. These expenses amounted to € 16.3 million in the losses on production facilities). The SSL business contributed nine months of the prior year.

Other Functional Costs and Other Operating Result Nine months ended June 30, Change in € million 2013 2012 nominal Research and development expenses (255.0) (246.5) 3.4 % in % of revenue (6.4) % (6.1) % Marketing, selling and general administrative expenses (787.5) (754.4) 4.4 % in % of revenue (19.9) % (18.7) % Other operating income 57.0 8.8 > 200 % Other operating expense (37.2) (154.7) (76.0) %

Research and development expenses registered a moderate Other operating result, which is made up of other operating increase, particularly at Opto Semiconductors. Transfor income and other operating expenses, increased sharply mation costs burdening this reporting period could be com- in the first nine months of fiscal 2013 compared to the corre- pensated especially in the segment LC. sponding prior-year period. This is attributable in particular to goodwill impairment of € 101.1 million on the cash-generat- The rise in Marketing, selling, and general administrative ing unit Professional Luminaires (PLUM) in the first nine expenses compared with the prior-year period is attributable months of fiscal 2012. Furthermore, in the current fiscal year, to higher transformation costs, especially for personnel- income was recognized for the settlement of patent infringe- related restructuring measures as well as higher costs asso- ment disputes, which escalated following the announcement ciated with the separation and for going public. Further- that the OSRAM Licht Group was to go public, including the more, in connection with contract changes, certain allow- reversal of the corresponding and further provisions. OSRAM ances to purchasing associations were presented in considers this income as special item. Marketing, selling, and general administrative expenses in the first nine months of fiscal 2013 that had been reported within gross profit in the prior-year period. OSRAM Licht AG 12 Interim Announcement

Financial Result Nine months ended June 30, Change in € million 2013 2012 nominal Income (loss) from investments accounted for using the equity method, net 13.2 (48.0) n/a Interest income 4.8 2.3 108.7 % Interest expense (23.3) (38.9) (4 0 .1) % Other financial income (expense), net ( 7. 3 ) (5.7) 28.1 %

In the nine months of fiscal 2013 just ended, we noted a shares in Valeo Sylvania and the loans extended to the net income of € 13.2 million from investments accounted joint venture, which led to reversals of impairment losses for using the equity method, compared to a net loss of in the amount of € 35.1 million. By contrast, an impair- € 48.0 million in the first nine months of fiscal 2012. This was ment loss of € 27.6 million had been recognized on the net primarily attributable to a call and put option agreement investment in Valeo Sylvania in the first nine months of with the joint venture partner relating to the sale of OSRAM’s fiscal2012 .

Net Income (Loss) and EBITA Nine months ended June 30, Change in € million 2013 2012 nominal Income (loss) before income taxes 94.3 (169.9) n/a Income taxes ( 3 2.1) (102.2) (68.6) % Net income (loss) 62.2 (272.1) n/a EBITA 123.7 43.9 181.7 % in % of revenue (EBITA margin) 3 .1 % 1.1% therein Special items 1): – Transformation costs (189.8) (183.2) 3.6 % – Costs associated with the separation/for going public (net) 11.7 (4 3 .1) n/a – Legal an regulatory matters – (30.7) n/a Total (178.1) (257.0) (30.7) %

1) For detailed information about special items see glossary.

Despite declining revenue, net income of € 62.2 million was noted in the first nine months of fiscal 2013 compared to a loss of € 272.1 million in the first nine months of fiscal 2012. This progress resulted primarily from the increase in gross profit, the fact that no impairment losses had to be recognized on goodwill, the significant income from the settlement of patent infringement disputes, and the increase of net income from investments accounted for using the equity method compared to the prior-year period. The income tax expense declined clearly to € 32.1 million in the first nine months of fiscal2013 , down from € 102.2 million in the same period of fiscal2012 and is calculated on the basis of the expected effective tax rate for the entire fiscal year. OSRAM Licht AG 13 Interim Announcement

Veränderung der Gewinn- und Verlustrechnung gegenüber dem Vorjahreszeitraum Neun Monate bis 30. Juni 2013 in Mio. € Umsatz – 71,9 Umsatzkosten 134,3 Bruttoergebnis vom Umsatz 62,4 EBITAForschungs- rose und by Entwicklungskosten181.7 %, increasing from € 43.9 million in the– 8,5 resulted from an impairment loss of € 28.0 million on produc- firstVertriebs- nine und months allgemeine of fiscalVerwaltungskosten 2012 to € 123.7 million in the – 3 3,1 tion facilities for pre-materials following the reassessment Sonstigessame period betriebliches of fiscal Ergebnis 2013, reflecting the initial successes165,7 of their strategic business prospects, in particular because Finanzergebnisfrom OSRAM Push. The corresponding EBITA margin 77,7 of the trends expected in the traditional general lighting increasedGewinn/(Verlust) from 1.1vor% Ertragsteuern in the prior-year period to 3.1% for the264,2 business. This is a component of transformation costs and reportingErtragsteuern period. The rise was primarily due to net income70,1 impacted the LC and SP segments and corporate items associatedGewinn/(Verlust) with nach the separationSteuern and for going public com334,3- by € 9.6 million, € 8.2 million, and € 10.2 million, respectively. pared to expenses in the first nine months of fiscal 2012, as Overall, special items burdened the EBITA margin of the well as to the adverse impact of expenses in the prior-year reporting period with 450 basis points (prior-year period: period in connection with a license and trademark litigation Kapitalrendite640 basis points). (ROCE The) EBITA contribution from forward- recognized under Corporate items. In addition, EBITA at integrated SSL products was negative in bothNeun the Monate reporting bis 30. Juni Opto Semiconductors rose sharply. An offsetting effect period and the prior-year period. 2012 2013

Kapitalkosten Statement of Income: Change Compared to Prior-Year Period Nine months ended June 30, 2013 3,6 % in € million Revenue (71.9) Cost of goods sold and services rendered 134.3 Gross profi t 62.4 Research and development expenses (8.5) Marketing, selling and general administrative expenses (33.1) Other operating result 165.7 – 9,3 % Financial result 77.7 Income (loss) before income taxes 264.2 Income taxes 70.1 Net income (loss) 334.3

Return on capital employed (ROCE) Return on Capital Employed (ROCE)

The return on capital employed (ROCE) grew to 3.6 % in Nine months ended June 30, the first nine months compared with – 9.3 % in the prior-year 2012 2013 period. The improvement was mainly due to the higher income before interest and after taxes compared to the first Cost of capital nine months of fiscal 2012, in combination with a lower average capital employed. 3.6 %

(9.3) % OSRAM Licht AG 14 Interim Announcement

Segment Information

In order to better respond to the technological transforma- been established for external reporting purposes in accor- tion, we modified our segment structure with effect from dance with IFRSs: Lamps and Light Engines & Controls make October 1, 2012. Our general illumination business was split up the Lamps & Components segment, and Luminaires, along the lighting value chain into four new business units Solutions, and Services make up the Luminaires & Solutions (Lamps, Light Engines & Controls, Luminaires, and Solutions) segment. The OLED research and development project is and the units Services and OLED. Two new segments have reported under corporate items.

Lamps & Components

Segment Data LC Nine months ended June 30, Change 2013 2012 nominal comparable1) Total revenue in € million 1,9 6 6.6 2,099.3 (6.3) % (1.8) % EBITA in € million (22.3) (35.0) (36.3) % EBITA margin in % (1.1)% (1.7) % Employees 2) FTE 17, 9 6 7 23,320 (23.0) %

1) Adjusted for currency translation and portfolio effects. 2) As of June 30, 2013 and 2012.

Total revenue generated by the LC segment decreased by Despite the declining revenues, EBITA rose by € 12.7 million € 132.7 million, or 6.3 %, declining from € 2,099.3 million in to € – 22.3 million in the nine months ended June 30, 2013, the first nine months of fiscal 2012 to € 1, 9 6 6.6 million in the up from € – 35.0 million in the nine months ended June 30, nine months ended June 30, 2013. Portfolio effects from 2012. The increase was due to productivity improvements in the disposal of the joint ventures in Japan were the main parts of our traditional business, reflecting the positive factor contributing to the decrease. Revenue decreased impact of our OSRAM Push program. Margin improvements modestly on a comparable basis. Although the segment’s in our loss-making business with forward-integrated SSL business with forward-integrated SSL products increased products and slightly more modest transformation costs also significantly compared with the prior-year period, this was contributed to the earnings improvement. outweighed by declining demand in the traditional business, particularly for pressure discharge lamps and electronic ballasts. In regional terms, the revenue of Lamps & Components decreased in particular—mainly in connection with the portfolio effects described—in the APAC region and due to the business downturn in the Americas region. The decrease could not be compensated by the modest increase in sales revenues in the EMEA region. Adjusted for the negative effects of portfolio changes of 4.0 % and negative currency translation effects of 0.5 %, total segment revenue fell by 1.8 %. OSRAM Licht AG 15 Interim Announcement

Luminaires & Solutions

Segment Data LS Nine months ended June 30, Change 2013 2012 nominal comparable1) Total revenue in € million 406.5 4 4 8.1 (9.3) % (9.4) % EBITA in € million (63.8) (6 4.1) (0.5) % EBITA margin (15.7) % (14.3) % Employees 2) FTE 3,429 3,192 7. 4 %

1) Adjusted for currency translation and portfolio effects. 2) As of June 30, 2013 and 2012.

Total revenue of the LS segment declined by € 41.6 million, or effects of 0.2 % and negative portfolio effects of 0.1%, total 9.3 %, decreasing from € 448.1 million in the first nine months segment revenue fell by 9.4 % overall. of fiscal2012 to € 406.5 million in the first nine months of fiscal2013 . While lighting business revenues increased in all At € – 63.8 million, EBITA reported by the LS segment was nearly regions driven by growth in SSL products, this was out- unchanged in the first nine months of fiscal 2013 (previous year: weighed by decreases in the service business in the Ameri- € – 64.1 million). The EBITA margin deteriorated from – 14.3 % cas. This was due on the one hand to postponements of in the first nine months of fiscal 2012 to – 15.7 % in the first nine large-scale capital spending among customers due to the months of fiscal 2013. This was primarily attributable to lower U.S. “fiscal cliff”. In addition, the revenue for the first nine revenue in the service business and the fact that function costs months of fiscal 2012 had included two major SSL installa- could not be reduced to the same extent. Transformation costs tion projects in the U.S.A. Adjusted for currency translation are expected to be incurred in the coming quarters.

Specialty Lighting

Segment Data SP Nine months ended June 30, Change 2013 2012 nominal comparable1) Total revenue in € million 1,0 8 6 .7 1, 0 4 3 .1 4.2 % 4.5 % EBITA in € million 170.9 177.2 (3.6) % EBITA margin 15.7 % 17.0 % Employees 2) FTE 5,991 6,314 (5.1)%

1) Adjusted for currency translation and portfolio effects. 2) As of June 30, 2013 and 2012.

SP noted a € 43.6 million, or 4.2 %, rise in total revenue, EBITA at SP fell by € 6.3 million, or 3.6 %, decreasing from from € 1, 0 4 3.1 million in the first nine months of fiscal 2012 € 177.2 million in the first nine months of fiscal 2012 to to € 1, 0 8 6.7 million in the first nine months of fiscal 2013. € 170.9 million in the first nine months of fiscal 2013. This The increase was mainly attributable to a clear comparable was primarily due to an impairment loss of € 8.2 million growth in the APAC region. The Americas region recorded on production facilities for pre-materials. As a result, the moderate business growth, whereas business was weaker EBITA margin decreased from 17.0 % to 15.7 % compared in the EMEA region, due primarily to the persistently with the first nine months of fiscal 2012. muted economic situation in southern Europe. Comparable revenue growth was based above all on demand for high pressure discharge lamps as well as LED components for the automotive sector. Growth in the automotive area more than offset a decline in the display/optic area. Excluding currency translation effects of – 0.3 %, total revenue of SP rose by 4.5 % in the first nine months of fiscal 2013. OSRAM Licht AG 16 Interim Announcement

Opto Semiconductors

Segment Data OS Nine months ended June 30, Change 2013 2012 nominal comparable1) Total revenue 2) in € million 749.6 654.8 14.5 % 14 .1% External revenue in € million 483.5 420.8 14.9 % EBITA in € million 84.7 55.9 51.5 % EBITA margin 11.3 % 8.5 % Employees 3) FTE 7, 3 6 2 6,372 15.5 %

1) Adjusted for currency translation and portfolio effects. 2) Including intersegment revenue of € 266.1 million (prior year: € 234.0 million). 3) As of June 30, 2013 and 2012.

Total revenue recorded by Opto Semiconductors increased Reconciliation by € 94.8 million, or 14.5 %, rising from € 654.8 million in The reconciliation to OSRAM Licht Group contains the the nine months ended June 30, 2012, to € 749.6 million in the items “Corporate items and pensions” and “Eliminations, nine months ended June 30, 2013. This growth was achieved corporate treasury and other reconciling items”. worldwide, and in particular in the APAC region as well as in all businesses. Revenue increased most notably in infrared The Corporate items include certain business activities and components and LEDs for general lighting as well as for con- special topics that are not directly attributed to the segments sumer and communication electronics. Excluding currency because the Managing Board of OSRAM Licht AG (CODM— translation effects of 0.4 %, total revenue of Opto Semicon- chief operating decision maker) does not consider them to be ductors grew by 14.1% in the first nine months of fiscal 2013 indicative for the segments’ performance. Among other compared with the prior-year period. things, these include parts of the activities in connection with specific pre-materials (e.g., the production of fluorescent EBITA reported by Opto Semiconductors rose by € 28.8 mil- materials) and specific legal issues. In addition, certain costs lion, or 51.5 %, increasing from € 55.9 million in the first nine associated with the separation as well as the planned IPO/ months of fiscal 2012 to € 84.7 million in the first nine months spin-off and patent infringement disputes are reported under of fiscal2013 . The rise in revenue, improved capacity utili Corporate items. Since the beginning of fiscal 2013, the zation, and further productivity gains contributed to the OLED research and development project is also reported increase. The product mix was also more favorable in a year- under Corporate items. The Pensions item includes OSRAM’s on-year comparison, including the lower share of third- pension-related income and expenses that are not allocated party products in the total business volume. EBITA in both to the segments, while primarily current service cost are reporting periods benefited from licensing revenues. Com- included in the segments’ EBITA. pared with the prior-year reporting period, the EBITA margin of Opto Semiconductors improved from 8.5 % to 11.3 %. Eliminations, corporate treasury and other reconciling items comprise the consolidation of transactions between the segments, certain reconciliation and reclassification items, and the operations of corporate treasury. OSRAM Licht AG 17 Interim Announcement

In the nine months ended June 30, 2013, the EBITA column on property, plant, and equipment used for the production of of Corporate items and pensions included € – 41.4 million pre-materials, and expenses of € 9.9 million for the relocation (nine months ended June 30, 2012: € – 86.2 million) relating of Group headquarters in Munich had an offsetting effect to corporate items, as well as € – 3.9 million (nine months on EBITA. Expenses for the patent infringement disputes, ended June 30, 2012: € – 3.5 million) relating to pensions. expenses of € 30.7 million for a trademark and license litiga- The increase in EBITA for the corporate items in the first nine tion, and impairment losses of € 21.5 million on OLED pro- months of 2013 is primarily due to income from the settle- duction facilities had an offsetting effect in the nine months ment of patent infringement disputes, which escalated after ended June 30, 2012. These effects are considered as the announcement of the IPO. Among other things, special items. While activities associated with pre-materials expenses for historical regulatory risks in one country, which still contributed to a positive EBITA in the first nine months is addressed by the “Future Industrial Footprint” project, of 2012, the earnings contribution of these activities was expenses of € 10.2 million resulting from impairment losses negative in the first nine months of 2013.

Financial Position and Net Assets

Development of major items of the statement of cash flows of € 32.6 million occurred in the first nine months of fiscal Cash flows from operating activities 2012. An offsetting effect resulted from the change in other Net cash provided by (used in) operating activities changed current liabilities in the first nine months of fiscal 2013, which from net cash used of € 197.7 million in the first nine months led to € 41.6 million being released. In contrast, funds of of fiscal 2012 to net cash provided of € 317.2 million in the first € 12.9 million were tied up in the same period of fiscal 2012. nine months of fiscal 2013, a rise of € 514.9 million. The This change was primarily due to an increase in liabilities increase was predominantly related to the negative effect of relating to personnel-related transformation costs particularly the € 499.5 million in additional funding of pension plan assets in the Lamps & Components segment in the first nine in the first nine months of fiscal 2012. Due to an earnings months of fiscal 2013. In contrast payments in the mid double- improvement of € 334.3 million, the net loss of € 272.1 million digit million euro range in connection with previously recog- in the first nine months of fiscal 2012 was converted into net nized liabilities for personnel-related transformation costs income of € 62.2 million in the first nine months of fiscal 2013. occurred. However, this change did not have an equal effect on the change in net cash provided by (used in) operating activities, Cash flows from investing activities since the result in the first nine months of fiscal 2012 had Net cash used in investing activities amounted to € 100.4 mil- been significantly impacted by non-cash expenses. Income lion in the first nine months of fiscal 2013, compared with taxes paid, which were primarily attributable to withholding € 162.3 million in the comparable prior-year period. The decline tax required to be withheld, the settlement of tax liabilities of € 61.9 million, or 38.1%, was mainly due to the fact that from previous years, and tax prepayments for the current year, no acquisitions were made in the first nine months of fiscal decreased by € 12.2 million, declining from € 66.3 million in 2013, while cash of € 40.3 million was used in the compa the first nine months of fiscal 2012 to € 54.1 million in the first rable prior-year period for company acquisitions, and partic- nine months of fiscal 2013. ularly for the acquisition of Encelium Holdings, Inc., Teaneck, U.S.A. („Encelium“). By contrast, OSRAM received a net pay- The change in net working capital (resulting from changes in ment of € 24.8 million in the first nine months of fiscal 2013 current assets and liabilities in the statement of cash flows) from the sale of the subsidiaries Sunny World (Shaoxing) led to € 0.1 million being tied up in the first nine months of fis- Green Lighting Co. Ltd., Shaoxing, China (“Sunny World”) cal 2013, while funds of € 39.2 million had been released in and OSRAM Hong Kong Ltd., Hong Kong (“OHK”). the comparable prior-year period. This was for the most part due to a change in trade receivables in the first nine months of fiscal 2013, particularly in the Lamps & Components segment, which led to € 49.2 million being tied up. This is con- trasted with funds of € 0.2 million having been released in the comparable prior-year period. Likewise the effect from the change in trade payables was a cash outflow of € 10.2 million in the first nine months of fiscal 2013, whereas a cash inflow OSRAM Licht AG 18 Interim Announcement

Überleitung zwischen EBITA und Free Cash Flow Neun Monate bis 30. Juni 2013 in Mio. €

Abschreibungen Veränderung Sonstige Mittelzu- Investitionen in und Wertminde- Veränderung sonstiger Vermö- und -abfl üsse immaterielle rungen auf Nettoumlauf- genswerte und Gezahlte aus laufender Ge- Vermögenswerte EBITA Sachanlagen EBITDA vermögen 1) Verbindlichkeiten Ertragsteuern schäftstätigkeit 2) und Sachanlagen Free Cash Flow

235,2 358,9 – 0,1 – 6,7 19,2

Additions to intangible assets and property, plant halogen– 5 4,1lamps—and for new SSL products. A total of and equipment € 6.6 million was attributable to the Luminaires & Solutions Capital expenditures totaled € 117.8 million in the first segment, and € 19.9 million to Specialty Lighting.199,4 Opto nine months of fiscal 2013 and were thus at the same level Semiconductors invested € 35.4 million,– 117, 8 including for the as123,7 in the first nine months of fiscal 2012 (€ 117.8 million). conversion to 6-inch wafers and production capacities Of the total amount, € 49.4 million was attributable to the for continuing to expand wafer production in Penang. The Lamps & Components segment in the first nine months capital expenditures recorded under Corporate items of fiscal 2013. Most of that amount was used to expand and pensions amounted to € 6.5 million in the first nine existing production lines—with an emphasis on modern months of fiscal 2013.

Reconciliation of EBITA to Free Cash Flow Nine months ended June 30, 2013 in € million

Additions to intan- Depreciation Change in Change in Other cash fl ows gible assets and and net working other assets Income taxes from operating property, plant EBITA impairments EBITDA capital 1) and liabilities paid activities 2) and equipment Free cash fl ow

235.2 358.9 (0.1) (6.7) 19.2

(54.1)

199.4 (117. 8 )

123.7

Free cash flow nine months of fiscal 2012, we were provided funds of A positive free cash flow of € 199.4 million was generated in € 531.9 million from Siemens (of which € 499.5 million is attrib- the first nine months of fiscal 2013. This represents a sharp utable to Funding of pension plans by Siemens Group and increase on the negative free cash flow of € 315.5 million € 32.4 million to Other transactions/financing with Siemens reported for the first nine months of fiscal 2012. Overall, this Group). By contrast, the Other transactions/financing with change is due above all to the above-mentioned addi- Siemens Group item amounted to € – 278.2 million in the first tional funding for pension plan assets in the first nine months nine months of fiscal 2013, primarily due to the decline in of fiscal 2012 amounting to € 499.5 million, since the corre- net payables to the Siemens Group from financing activities. sponding cash contribution by Siemens AG is not included An offsetting effect resulted from the loss absorption in the calculation of free cash flow. payment of € 336.6 million made by Siemens in the first nine months of fiscal 2013 for fiscal 2012 pursuant to the domi Cash Flows nation agreement. In the first nine months of 2012, € 143.8 mil- Nine months ended June 30, lion had been transferred to Siemens for fiscal 2 011 as a in € million 2013 2012 profit transfer under the domination and profit transfer agree- Cash flows from: ment with Siemens. No payments were made for acqui Operating activities 3 17. 2 (197.7 ) sitions of shares in the first nine months of 2013, while in the Investing activities (100.4) (162.3) comparable prior-year period payments of € 53.7 million thereof: Additions to intangible assets were reported for the acquisition of the remaining shares and property, plant and equipment (117.8) (117. 8 ) in Traxon. Free cash flow 1) 199.4 (315.5) Financing activities 53.6 343.2 Financing and liquidity analysis 1) Free cash flow is defined as net cash provided by (used in) operating activities less Net debt/Net liquidity comprises total debt (short-term debt additions to intangible assets and property, plant and equipment. and current maturities of long-term debt plus long-term debt plus payables to Siemens Group from financing activities) Cash flows from financing activities less total liquidity (cash and cash equivalents plus available- OSRAM’s financing activities resulted in net cash provided for-sale financial assets (current) plus receivables from of € 53.6 million in the first nine months of 2013, compared Siemens Group from financing activities). As of June 30, 2013, with net cash provided of € 343.2 million in the comparable our net liquidity consisted primarily of payables to and period of the previous year. Financing activities were par receivables from Siemens Group as well as cash and cash ticularly impacted by transactions with Siemens. In the first equivalents.

Net Debt/Net Liquidity

June 30, September 30, in € million 2013 2012 Short term debt and current maturities of long-term debt 71. 0 47. 2 + Long-term debt – 1.3 + Payables to Siemens Group from financing activities 78 8.1 1.19 8.1 Total debt 859.1 1.246.6 – Cash and cash equivalents 297.8 31. 2 – Available for sale financial assets 0.7 0.7 – Receivables from Siemens Group from financing activities 668.5 619.4 Total liquidity 967.0 651.3 Net liquidity/net debt (107.9) 595.3 + Pension plans and similar commitments 413.5 488.7 + Credit guarantees 10.3 10.5 Adjusted net debt 315.9 1,094.5 OSRAM Licht AG 20 Interim Announcement

Entwicklung der Nettofi nanzschulden/Nettoliquidität Neun Monate bis 30. Juni 2013 in Mio. €

Sonstige Veränderung Mittelzu- und Investitionen Sonstige Nettofi nanz- sonstiger - a b fl ü s s e in immaterielle Investitions- Netto- schulden Verlustüber- Forderungs- Veränderung Vermögens- aus laufender Vermögens- und liquidität am nahme durch verzicht durch Nettoumlauf- werte und Ver- Gezahlte Geschäfts- werte und Finanzierungs- am 30.9.2012 Siemens Siemens EBITDA vermögen 1) bindlichkeiten Ertragsteuern tätigkeit 2) Sachanlagen tätigkeit 3) 30.6.2013 On February 1, 2013, OSRAM Gmbh signed a credit facility Both credit lines have terms of five years. The term loan 358,9 agreement with a consortium initially consisting of five will fall due for payment19,2 in a single amount at the end banks for a total loan amount of € 1.25 billion. Since– 0,1 then, – 6,7 of the term. It may, however, be repaid in part or in full – 54,1 4,2 107,9 ten additional banks have joined the consortium. during the term, in which case no further drawdowns will – 117, 8 be possible. The loans under the revolving credit line The credit facilities available16 3 ,0 under the credit agreement com- will fall due at the end of their respective selected interest prise a term loan in the amount of € 300 million, which was periods, but may be re-borrowed thereafter during the fully drawn down336,6 by OSRAM as of July 4, 2013, and a revolv- term. The drawdowns bear interest at a variable rate based ing credit line in the amount of € 950 million, which may also on the relevant applicable EURIBOR (or USD-LIBOR, as be drawn down in U.S. dollars or, upon approval by the banks, applicable) plus a margin which will vary depending on the in other currencies. The two credit lines are intended to ratio between net debt and EBITDA. finance general corporate purposes (including the refinancing of– 595,3 liabilities to Siemens AG and its other subsidiaries).

Development of Net Debt/Net Liquidity Nine months ended June 30, 2013 in € million

Additions Other to intangible Net debt cash fl ows assets, Other as of Losses Waiver of Change in Change in from property, investing and Net liquidity September absorbed by Siemens’ net working other assets Income operating plant and fi nancing as of 30, 2012 Siemens receivables EBITDA capital 1) and liabilities taxes paid activities 2) equipment activities 3) June 30, 2013

358.9 19.2 (0.1) (6.7) (54.1) 4.2 107.9 (117. 8 )

163.0

336.6

(595.3)

1) Includes changes in inventories, trade receivables, other current assets, trade payables, current provisions, and other current liabilities. 2) Includes dividends received, interest received and other reconciling items to net cash provided by (used in) operating activities. 3) Primarily includes cash outflows for transaction costs related to unused credit facilities, and non-cash currency translation effects. OSRAM Licht AG 21 Interim Announcement

Bilanzstruktur

in Mio. €

Aktiva 5.066,9 Passiva 5.066,9 4.879,7 4.879,7

Asset structure and equity and the retirement of assets in the traditional business as Kurzfristige Verbindlichkeiten Balance sheet structure well as the disposal of the49 Chinese% subsidiary43 % Sunny World. Kurzfristiges Vermögen 60 % und Rückstellungen In the first nine months of fiscal 2013, total assets62 % decreased by € 187.2 million, or 3.7 %, from € 5,066.9 million as of Septem- On the liabilities and equity side, payables to Siemens Langfristige Verbindlichkeiten 12 % 13% ber 30, 2012, to € 4,879.7 million as of June 30, 2013. Cash undGroup Rückstellungen decreased by € 409.6 million, mainly due to lower and cash equivalents rose by € 266.6 million to € 297.8 million, capital requirements owing to the good business per due in particular to the withdrawal from Siemens Cash Man- formance as well as a waiver of receivables 45in % the amount Langfristiges Vermögen 40 % 38 % Eigenkapital 38% agement end of June 2013. Accordingly, receivables from of € 163.0 million. Equity rose by € 252.8 million to Siemens Group decreased by € 286.0 million. In connection € 2,202.4 million, particularly as a result of capital increases with the planned disposal30. September of the 2012 joint venture30. Juni Valeo 2013 Sylvania, by the Siemens Group30. September totaling 2012to € 178.2 30.million Juni 2013 and the assets in the amount of € 24.9 million were classified as held net income of € 62.2 million. The equity ratio (equity to total for sale. Property, plant, and equipment declined by assets) was therefore 45.1% as of June 30, 2013, com- € 173.8 million, particularly as a result of impairment losses pared with 38.5 % as of September 30, 2012.

Balance Sheet Structure

in € million

Assets 5,066.9 Liabilities and equity 5,066.9 4,879.7 4,879.7

Current liabilities 43 % and provisions 49% Current assets 60 % 62 %

Non-current liabilities 12 % 13% and provisions

45 % Non-current assets 40 % 38 % Equity 38%

September 30, 2012 June 30, 2013 September 30, 2012 June 30, 2013 OSRAM Licht AG OSRAM Push: 22 Interim Announcement Einsparziele Funktionskosten erreichte Werte in Mio. € Ziel

Vertrieb und Verwaltung 1) Forschung und Entwicklung

Ziel: Ziel: – 8 bis – 10 % +/– 0 %

8623)

632 2) 609 2) 3)

340 Progress of the OSRAM Push program Simultaneously, OSRAM is aiming to increase247 2) 255the 2) profitability of its business by ensuring more efficient structures in The technology shift and the consequent fundamental research and development, production, and sales, as well as changes in the business environment require the strategic in the centralGJ 2012functions.9 M 2 013 In connectionGJ 2014 GJ with 2012 this,9 M 2 013researchGJ 2014 realignment of the OSRAM Licht Group. To implement and development expenses shall be maintained at the fiscal our strategy, “OSRAM Push”—a comprehensive, global trans 2012 level until fiscal2014 , and Marketing, selling, and OSRAMformation Push: program —was launched in the first quarter of fis- general administrative expenses excluding logistics costs Reduzierung der Fertigungsstandorte 1) 2) cal 2012. The program is intended to ensure the sustainable erreichte Werte shall be reduced from the level recorded in fiscal 2012. performance of the OSRAM Licht Group by transforming Ziel processes and structures as well as the corporate culture. OSRAM Push: Cost-saving Targets Function Costs Achieved in € million Targeted One part of OSRAM Push is the worldwide ≈“Future – 25 % Industrial Footprint” project, which the OSRAM Licht Group is using SG&A expenses 1) R&D expenses 43 to adapt global production capacities38 to changed market – 12 % Target: Target: demand. Conversion of the production landscape33 is still on- (8) to (10)% +/– 0 % going in order to improve plant capacity utilization. Among 8623) other things, this involves relocating, selling off, or shutting down production facilities and, in some cases, closing 632 2) 609 2) 3) smaller locations with lower production volumes, as well as uneconomical locations. The goal is to reduce the number 340 of manufacturing30. September sites.2011 As30. of Juni September 2013 30. September30, 2 011, 2014 OSRAM 247 2) 255 2) had 43 production locations, with the goal of discontinuing eleven locations by fiscal2014 from this basis. As of June 30, 2013, implementation had already occurred with respect to F Y 2012 9 M 2 013 F Y 2014 F Y 2012 9 M 2 013 F Y 2014 five locations. 1) Excluding logistics costs of € 155.9 million and € 161.8 million in the nine months ended June 30, 2013 and 2012, respectively, and of € 213.9 million in fiscal 2012. 2) Nine months ended June 30. OSRAM Push: 3) In the course of contract changes in fiscal 2013, certain allowances to purchasing Reduction of Manufacturing Sites 1) 2) associations are now reported in marketing, selling and general administrative Achieved expenses. In fiscal 2012, these expenses were reported within gross profit and Targeted amounted to € 20.1 million for the whole fiscal year, and to € 16.3 million in the nine months ended June 30, 2012. These amounts are included in the € 862 million and € 609 million amounts, respectively.

≈ (25) % The measures described above involve a clear reduction of jobs. OSRAM had already announced in January 2012 that 43 38 staff levels would be adjusted by the end of fiscal 2014, and (12) % 33 that around 1,000 jobs would be cut in Germany in a socially responsible manner. At the same time, a similar procedure was announced for OSRAM locations outside of Germany; this affects approximately 2,300 jobs. Because the trans formation of the lighting industry has continued to accelerate, OSRAM has announced adjustments to improvements September 30, 2011 June 30, 2013 September 30, 2014 in capacity utilization and cost savings beyond those already 1) Net reduction including the establishment of a new LED assembly facility announced. As part of this, OSRAM aims to sell plants in Wuxi, China. located outside of Germany that manufacture products that 2) Values according to current OSRAM planning. are no longer part of the strategic portfolio. The additional planned measures are likely to lead to a further reduction of approximately 4,700 jobs worldwide in fiscal 2013 and 2014 (400 of them in Germany). The total number of job reductions will therefore amount to approximately 8,000. At present, additional structural measures are being examined and OSRAM Push: Stellenreduktion erreichte Werte in FTE Ziel

Veränderung – 1. 9 0 0 insgesamt davon Push – 2.200 – 3.300 – 3.700 – 500 – 2.300 41.400 39.200 35.500 ≈ 36.000 ≈ 34.000

OSRAM Licht AG 23 Interim Announcement

30. 9. 2011 30.9.2012 30.6.2013 30.9.2013 30.9. 2014

discussed with the employee representatives, particularly OSRAM Push: Job Reduction with respect to the Luminaires & Solutions segment. Achieved FTE Targeted

Change A significant part of the job reductions is attributable to the ( 1, 9 0 0 ) overall (3,300) sale of the plants. The majority of the remaining reductions thereof Push (2,200) are expected to affect plants with products at the end of (3,700) (500) their lifecycles, and the rest of the production job reductions (2,300) 41,400 are to come from closing smaller as well as uneconomical 39,200 35,500 ≈ 36,000 ≈ 34,000 locations. We will also adapt the structures in research and development, and sales, and in central functions to the changedOSRAM Push: circumstances. The planned measures will predom- inantlyProjektfortschritt relate to OSRAM 1) locations outside of Germany in Ziel Status Status kumuliert bis accordance with the international distribution31. März of our 30.business Juni 31. Dezember volume and the current global production2013 2)network. 2013The2) Fortschritt 2014 measures will be offset by the fact that, in the years to come, 9/30/2011 9/30/2012 6/30/2013 9/30/2013 9/30/2014 theTransformationskosten capacity restructuring will lead to a325 renewed Mio. € buildup388 Mio. € > 65 % 550–600 Mio. € of personnel in semiconductor-based technologies (SSL). With this transformation program, OSRAM is aiming for AsReduzierung of June Fertigungsstandorte 30, 2013, 5,200 of the aforementioned– 5 jobs– 5 had a45 cumulative% cost reduction totaling around € 1 billion gross– 11 already been reduced. Another 1,000 jobs are expected by fiscal 2015 (inclusive). This will be partly offset, however, Stellenreduzierungto be eliminated during the 2013 calendar– 5.000 year 3) in connection– 5.200 by≈ 65 %cumulative transformation costs of between € 550 million≈ – 8.000 with the closure of the production location in Tangerang in and € 600 million in the fiscal years from 2012 to 2014, Indonesia.OSRAM Push Maßnahmen 185 Mio. € 316 Mio. € which≈ 32% will mostly be attributable to fiscal 2012 and≈ 2013 1.000 Mio.. € 4) Total cumulated transformation costs of € 388 million In addition to reducing global staff levels, we also plan to were incurred in fiscal 2012 and the first nine months of fiscal invest in new businesses and to expand production of 2013, reducing our EBITA. In addition, cost savings will be LED-based products. For example, we are currently estab- offset by other effects, particularly effects of price declines lishing a new LED assembly facility on leased premises (especially in SSL products), salary increases, and other in Wuxi in China (“backend production”). inflationary effects.

OSRAM Push: Project Progress1) Target Status Status cumulated until March 31, June 30, December 31, 2013 2) 2013 2) Progress 2014

€ 550–600 Transformation costs € 325 million € 388 million > 65 % million

Reduction of manufacturing sites (5) (5) 45 % (11)

Job reduction (5,000) 3) (5,200) ≈ 65 % ≈ (8,000)

OSRAM Push measures € 185 million € 316 million ≈ 32% ≈ €1,000 million 4)

1) The information presented reflects the project progress since fiscal 2012 until reporting date June 30, 2013. 2) Cumulative since start of the project in fiscal 2012. 3) Already includes around 2,300 jobs from the disposal of Sunny World, Shaoxing. 4) The OSRAM Push measures refer to the fiscal years 2013 to 2015. OSRAM Licht AG 24 Report on Opportunities Interim Announcement and Risks

OSRAM is presented with a wide range of opportunities The ERM process aims at early identification, assessment, as part of its corporate activities and in view of the range of and management of those risks and opportunities that our business activities. However, the Company is also could impact the achievement of the Company’s strategic, exposed to a large number of risks. These opportunities and operating, financial, and compliance-related targets to a risks may positively or negatively influence the Company’s significant extent. OurERM approach is based on a net prin- business performance. We make use of a variety of inte- ciple in which risks and opportunities are assessed in grated risk management and control systems to identify rele- accordance with existing internal controls. To enable a com- vant opportunities and risks at an early stage and to man- prehensive view of our business activities, risks and oppor age them effectively. Risk management therefore sustainably tunities are identified in a structured process that combines ensures our future business success and is a core compo- the elements of a top-down and a bottom-up approach. nent of all Group decisions and business processes. Risks and opportunities are generally reported on a quarterly basis, with the regular reporting process supplemented As a globally operating high-tech enterprise in the lighting by ad hoc reporting in order to draw attention to critical topics industry and one of the world’s leading lighting manufac promptly. The relevant risks and opportunities are prioritized turers, OSRAM’s corporate activities are associated not in accordance with their extent and probability of occur- only with opportunities but also with risks. For this reason, rence from a quantitative and/or qualitative perspective. systematic risk management has been introduced at The bottom-up process of identification and assessment is OSRAM. The risk management system is subject to ongoing supported by workshops with the respective management development in light of the ever-increasing complexity of of the business units, regions and corporate functions. This corporate structures, as well as increasing internationality. top-down element ensures that potential new risks and OSRAM’s risk policy is aligned with its aim of achieving opportunities are put forward for discussion at management sustainable growth and increasing its enterprise value, while level and, if relevant, are included in subsequent reports. at the same time identifying, minimizing, or if possible The reported risks and opportunities are analyzed for possi- avoiding the risks associated with its business operations. ble cumulative effects and assimilated in OSRAM’s register Since risk management forms an integral part of planning of opportunities and risks. and implementing our business strategies, our risk policy is laid down by management. In accordance with the orga Responsibility is defined for all relevant risks and opportuni- nizational hierarchy and lines of responsibility at OSRAM, the ties, with the hierarchical level of responsibility depending respective management of our business units, regions, on the significance of the respective risk or opportunity. The and corporate departments is required to report on risks and first step in the assumption of responsibility for a specific opportunities as part of our risk management system and risk or opportunity requires the definition of one or a combi- to comply with the overarching principles established by nation of several of our general response strategies. With management. respect to risks, our strategies comprise the following alter- natives: avoiding risk, transferring risk, minimizing risk, or Risk management at OSRAM is based on a comprehensive, accepting risk. The general opportunity response strategies interactive, and management-based Enterprise Risk Man- are as follows: not taking advantage, transfer, partial realiza- agement (ERM) approach, which is embedded in the corpo- tion and complete realization. The second step in assuming rate organization and deals with risks and opportunities responsibility for risks or opportunities involves developing, alike. Our ERM approach is based on a globally accepted initiating, and monitoring reasonable response measures in framework concept, the “Enterprise Risk Management— accordance with the strategy selected. In order to enable Integrated Framework”, developed by the Committee of effective risk management, the response measures must be Sponsoring Organizations of the Treadway Commission customized to the specific situation. We have therefore (COSO). This framework concept links the ERM process with developed numerous response measures of varying natures. Group-wide financial reporting and is an integrated part of our internal control system. It comprises the aspects of corporate strategy, efficiency, and effectiveness of business operations, reliability of financial reporting, and adher- ence to relevant laws and regulations in equal measure. OSRAM Licht AG 25 Interim Announcement

For the purpose of monitoring the ERM process and to fur- Business Strategy Risks ther advance the integration and standardization of existing control activities in conformity with legal and operating The lighting industry is facing a far-reaching technological requirements, management has established a corporate change towards solid state lighting (SSL); that change may department that is managed by the Risk & Internal Con- be disruptive and requires adjustments to our business trol Officer and is responsible for risk management and the model, since production, procurement and sales processes internal control system (Audit & Risk and Internal Control have to be adjusted. The associated upfront and transfor Department), as well as the OSRAM Risk and Internal Con- mation costs have significantly impacted our results of oper- trol Committee (ORIC). Information on risks and opportuni- ation in the recent past and we expect further transforma- ties from OSRAM’s risk and opportunity register is reported tion costs. We could also lose our ability to compete if we to the ORIC. This information is used to evaluate the risk do not succeed in increasing the profitability of our business and opportunity situation of the Group. The ORIC is com- with forward-integrated SSL products, which is currently posed of the Risk & Internal Control Officer as chairman as showing a loss. well as the Managing Board. It is responsible for monitoring the RIC organization and the RIC strategy. The speed and extent of the transition to solid state lighting (SSL) is highly uncertain and depends on various frame- In the following, we provide information on risks that could work conditions. We might not remain competitive if we are have a substantial adverse effect on our business situation, not able to adapt swiftly to changing market conditions or our net assets, financial position, and results of operations, if SSL penetration of the market occurs more rapidly than we our share price, and our reputation. anticipate.

Our business is exposed to become more volatile in connection with the shift to solid state lighting (SSL) products. Overcapacities, price erosion and short product life cycles in the SSL business might increase the volatility of our business. Semiconductor-based products are subject to rapid technological change as well as price erosion. Supply and demand are difficult to predict.

The lighting industry is characterized by intense competition. We face competition from other established large, global manufacturers as well as new competitors mainly from the semiconductor industry expanding their activities. The market entry of new competitors and overcapacities result in increasing price pressure that may adversely affect our results of operations.

Partly as a result of the technological change, the lighting industry is evidencing consolidation. The transition in the lighting industry may change the competitive landscape due to increasing consolidation and vertical integration along the value chain. We are also considering greater vertical integration, however, it is uncertain whether this strategy will be successful. OSRAM Licht AG 26 Interim Announcement

Operating Risks Legal and Compliance Risks

Our business is capital and personnel intensive. Under We are involved in legal disputes that bear significant risks. utilization of our plants disproportionately impacts our profit- These legal disputes comprise product warranty claims, ability due to the fixed costs that can only be adapted with property damage and personal injury that were caused, or delay. We are subject to risks relating to our investments in alleged to have been caused, by our products, alleged production facilities and the utilization of our production false or misleading information regarding product character- capacities. istics as well as alleged poisoning with mercury and patent litigations. We procure key components for manufacturing our products from third parties. Delivery shortfalls in relation to supplier Additional risks of which we are not yet currently aware or components and primary products can hold up production risks that we currently consider to be insignificant may and materially adversely affect our business activities. also adversely affect our business activities. We do not expect the occurrence of any risks that, in isolation or We operate an international business and generate a signi in combination with other risks, could endanger the contin- ficant part of our revenue outside the euro zone. Exchange ued existence of the Company as a going concern. rate fluctuations can have material adverse effects on our revenues and profits and may also affect our competitive See also “Notes, forward-looking statements and reconcili position. ations” at the end of this interim announcement.

For the manufacturing of our products we require raw We regularly identify and assess the opportunities arising in materials that are partly subject to significant price volatility. our lines of business and act accordingly in connection Prices for certain raw materials, in particular for rare earths, with our comprehensive, interactive, and management-based sometimes increased considerably. Rising commodity prices Enterprise Risk Management (ERM) approach, which is could have a material adverse effect on the profitability of integrated into our corporate organization and which deals our business. with risks and opportunities alike. We describe our most significant opportunities in the following. As a technology company, we need qualified employees; competition for such employees is intense. An inability to attract and retain skilled key personnel could materially adversely impact our business.

A sovereign default or exits of EU member states from the euro zone may have material adverse effects on the global economy.

Some of our production facilities and sites have been used for industrial purposes for decades and are in individual cases contaminated. Accordingly, we are subject to environmental liability risks, general regulatory risks and to risks from changes to the regulatory frameworks. OSRAM Licht AG 27 Interim Announcement

Business Strategy Opportunities Other Opportunities

OSRAM’s opportunities exist above all in the development of We intend to use selective programs we have initiated to innovative, energy-saving lighting solutions, ranging from improve our attractiveness and our position on the em- LEDs, lamps, and luminaires to intelligent lighting solutions, ployment market. We also plan to identify potential for opti- and the related services. In this context, OSRAM plans to mization by conducting employee surveys. accelerate the launch of new products, applications, and technologies such as LEDs. We see additional opportunities The opportunities described are not necessarily the only in the growth of the emerging markets, in which OSRAM is ones open to us. Furthermore, our assessment of the already well positioned. In the low price segment, additional opportunities is subject to regular change, since our Com- business could be generated by adapting products to local pany, our markets, and our technologies are steadily pro- standards, possibly in combination with local production or gressing. This can lead to new opportunities arising, existing the purchase of local products, especially in growth markets. opportunities losing their relevance, or the significance of an opportunity for us changing. As a matter of principle, we In past years, OSRAM has expanded its business model to assess opportunities in accordance with our best knowledge, include professional lighting solutions and lighting manage- among other things on the basis of certain assumptions ment systems. The implementation of customized, energy- relating to the market trends, the market potential of techno efficient, and innovative lighting concepts will represent a logies and solutions, and the anticipated trends in customer growing business segment in the future as well. demand and prices. When opportunities are realized, they may have less of an effect than originally estimated on the OSRAM offers companies and municipalities energy-efficient basis of the underlying assumptions. It is also possible that lighting optimization as an energy audit partner. The focus opportunities we see today will never materialize. lies on analyzing and subsequently optimizing existing lighting installations in terms of their function, efficiency, sustainability, and quality of perception.

Portfolio activities offer us the opportunity to sharpen our business portfolio and to expand our activities. Divestments can enhance the focus on our strengths. Strategic acquisitions and new partnerships can help us to solidify our market position in existing markets, develop new markets, and supplement our technology portfolio in selected segments.

The consistent continuation of forward-looking investments in basic research and innovative lighting technologies as well as our patent portfolio strengthens our market position and serves our goal of offering energy-efficient, sustainable products and applications.

Our efforts also extend to optimizing our business processes. We want to structure our processes so as to accelerate product launch speeds and to leverage opportunities to use or generate cost savings potentials. OSRAM Licht AG 28 Report on Expected Interim Announcement Developments

For the fiscal year ending in September, the Managing Board is confirming its expectations that comparable revenue will remain stable, with a modest comparable increase in the second half of the year. For EBITA adjusted for special items, the Managing Board is anticipating a rise of approximately 20 % to around 30 %, after previously expressing expectations of an increase in the low double-digit percentage range. The Managing Board moreover believes that positive net income will be reached in the current fiscal year. Previously, a significantly smaller loss than in the previous year approaching the break-even point was assumed. Free cash flow is expected to be clearly positive in 2013. OSRAM Licht AG 29 Report on Events after the Interim Announcement Balance Sheet Date

The spin-off of OSRAM’s business from Siemens took effect The composition of the supervisory boards of OSRAM Licht as of its last entry in the Commercial Register on July 5, AG and OSRAM Gmbh changed when the spin-off took 2013. Since July 8, 2013, OSRAM Licht AG shares have been effect on July 5, 2013. traded on the stock exchanges in Frankfurt and Munich. The existing members of the Supervisory Board of OSRAM OSRAM’s outstanding net financial liabilities to Siemens Licht AG, Mr. Georg Bernwieser (Chairman), Mr. Peter were settled at the beginning of July. On July 4, 2013, Kastenmeier, and Mr. Walter Richter, resigned their positions OSRAM drew down € 300.0 million of the syndicated loan with effect from the date of the spin-off and stepped down facility. from the Supervisory Board. When the spin-off took effect, so did the appointment of Prof. Dr. Siegfried Russwurm, Effective July 1, 2013, OSRAM assumed responsibility for the Mr. Peter Bauer, and Dr. Joachim Faber as members of the delivery of OSRAM shares to the beneficiaries of the spin- Supervisory Board of OSRAM Licht AG. By way of a reso off bonus grant as well as for administration of the settlement lution adopted on July 11, 2013, the Supervisory Board of of this commitment, in return for Siemens reimbursing the OSRAM Licht AG elected Prof. Dr. Siegfried Russwurm as its resulting costs. The number of shares to be purchased by Chairman and Mr. Peter Bauer as Deputy Chairman of the OSRAM on the capital market will be determined by Siemens. Supervisory Board. 198.104 treasury shares had been purchased for the spin- off bonus grant by the date when this interim announcement When the spin-off took effect, Dr. Roland Busch, Mr. Joe was prepared. OSRAM has purchased a further 127.394 trea- Kaeser, Prof. Dr. Hermann Requardt, Prof. Dr. Siegfried Russ- sury shares relating to an employee share program. wurm, Mr. Peter Y. Solmssen, and Dr. Ralf Peter Thomas resigned as members of the Supervisory Board of OSRAM In the past, OSRAM’s employees participated in Siemens AG Gmbh. The shareholders of OSRAM Gmbh appointed share-based payment programs. When the spin-off took Mr. Peter Bauer, Dr. Christine Bortenlänger, Dr. Joachim effect on July 5, 2013, the existing Siemens programs were Faber, Prof. Dr. Lothar Frey, Mr. Frank H. Lakerveld, and cash-settled in favor of the OSRAM employees in accor- Prof. Dr. Siegfried Russwurm as the shareholder represen dance with the terms and conditions of the relevant programs. tatives on the Supervisory Board with effect from the This cash settlement ahead of schedule results in additional date on which the spin-off took effect, and Dr. Roland Busch low double-digit million euro expense in the fourth quarter. as Prof. Dr. Siegfried Russwurm’s alternate on the Super visory Board. These appointments therefore took effect on The spin-off from Siemens AG in July 2013 led to an immediate July 5, 2013. On July 11, 2013, the Supervisory Board of claim of employees for payment under a deferred compen- OSRAM Gmbh elected Prof. Dr. Siegfried Russwurm as its sation plan of the OSRAM Licht Group in the U.S.A. in a mid Chairman and Mr. Peter Bauer as the other Deputy Chairman double-digit million euro amount, reducing OSRAM Licht of the Supervisory Board. Group’s assets and liabilities to the beneficiaries accordingly. OSRAM Licht AG 30 Notes, Forward-looking Interim Announcement Statements and Reconciliations

This interim announcement contains supplementary financial This document contains statements regarding the future measures that are or may be what are known as non-GAAP course of our business and future financial performance financial measures. Such non-GAAP financial measures are as well as future events or developments relating to OSRAM or may be revenue figures adjusted for currency translation that could constitute forward-looking statements. These and portfolio effects, the return on capital employed (ROCE, statements are identifiable by their use of wording such as see also the reconciliation below), free cash flow (FCF), “ex p e c t ”, “ wa n t ”, “a n ti c i p a te”, “ i n te n d ”, “p l a n”, “ b e l i e ve”, EBITA, EBITDA, net debt/net liquidity and adjusted net debt. “aim”, “estimate”, “will”, “forecast”, or similar wording. If nec- Alternatively, these may be used for the calculation of essary, we will also make forward-looking statements in additional performance indicators. These additional financial other reports, presentations, in documents sent to share- measures should not be used exclusively as an alternative holders, and in press releases. Furthermore, our representa- to the financial measures presented in the combined interim tives may make forward-looking statements orally from time financial statements and calculated in accordance with to time. Such statements are based on current expectations IFRSs, as adopted by the EU, for the purpose of analyzing and certain assumptions made by OSRAM’s management. the financial position and results of operations of OSRAM They are therefore subject to a number of risks and uncer- or for analyzing its cash flows. The interim combined report tainties. Numerous factors, many of which are outside of is available at OSRAM’s Investor Relations website which OSRAM’s sphere of influence, affect the business activities, can be found at www.osram-licht.ag. Other companies that profits, business strategy, and results ofOSRAM . As a present or report similarly named financial measures may result of these factors, the actual results, profits, and perfor- calculate these differently. For definitions of these additional mance of OSRAM could differ materially from the statements financial measures see glossary in this interim announce- about future results, profits, or performance that are con- ment. tained expressly or implicitly in the forward-looking statements or expected due to earlier trends. In particular, these OSRAM Licht Group’s financial measures presented in this factors include circumstances described in the Opportunity interim announcement are based on the International and Risk Report section in this interim announcement, Financial Reporting Standards (IFRSs) and its interpretations but are not limited to such. If one or more of these risks or issued by the International Accounting Standards Board uncertainties were to materialize, or if it should prove (IASB), as adopted by the European Union (EU). that the underlying assumptions were not correct, the actual results, performance, and profits of OSRAM could deviate Due to rounding, numbers presented throughout this interim materially from the results described in the forward-looking announcement may not add up precisely to the totals pro- statements as expected, anticipated, intended, planned, vided and percentages may not precisely reflect the absolute believed, aimed for, estimated, or projected results, perfor- figures. mance, and profits.OSRAM does not assume any obliga- tion and also does not intend to update these forward-look- This document is a convenience translation of the original ing statements or to correct them if developments are not German-language document. as expected.

OSRAM Licht AG 31 Interim Announcement

Return on Capital Employed (ROCE)

Return on capital employed (ROCE) is a measure of capital efficiency. We present ROCE on OSRAM Licht Group level and use this measure in order to assess our result from the point of view of our shareholders and creditors. We believe that the presentation of ROCE provides useful information to investors because ROCE can be used to review whether capital employed by the Company yields competitive returns. ROCE on OSRAM Licht Group level is defined as income (loss) before interest after taxes divided by average capital employed.

The following tables illustrate how we calculate ROCE:

Capital Employed

Fiscal 2013 September 30, in € million June 30, 2013 March 31, 2013 2012 1) Total equity 2,202.4 2,18 3.0 1,949.6 Long-term debt – – 1.3 Short-term debt and current maturities of long-term debt 71.0 53.0 47. 2 Payables to Siemens Group from financing activities 78 8 .1 9 57. 0 1,19 8 .1 Pension plans and similar commitments 413.5 46 9.1 488.7 Cash and cash equivalents (297.8) (50.5) (31.2) Receivables from Siemens Group from financing activities (668.5) (939.4) (619.4) Capital employed 2,508.6 2,672.2 3,034.3

Fiscal 2012 September 30, June 30, 2012 March 31, 2012 20111) Total equity 1,635.5 1,592.6 1,46 0.8 Long-term debt 2.0 2.6 3.9 Short-term debt and current maturities of long-term debt 53.8 43.4 22.4 Payables to Siemens Group from financing activities 1,409.6 1,437.9 1,343.7 Pension plans and similar commitments 465.0 347.0 832.5 Cash and cash equivalents (28.6) (24.6) (43.7) Receivables from Siemens Group from financing activities (528.3) (482.6) (535.8) Capital employed 3,009.0 2,916.3 3,083.8

1) The initial application of IAS 19 (revised 2011) results in adjustments in the line items Total equity as well as Pension plans and similar commitments of the disclosed combined financial statements. OSRAM Licht AG 32 Interim Announcement

ROCE Fiscal 2013 Fiscal 2012

Nine months Three months Nine months Three months in € million ended June 30 ended June 30 ended June 30 ended June 30 Income (loss) before interest after taxes Net income (loss) 62.2 13.7 (272.1) 54.9 Interest (income) expense, net1) 18.5 6.6 36.6 9.1 Taxes on interest 2) (6.3) (5.4) 22.0 (12.4) Income (loss) before interest after taxes 74.4 14.9 (213.5) 51.6 Calculation of tax rate Income (loss) before income taxes 94.3 41.8 (169.9) (24.6) Income taxes (32.1) (28.1) (102.2) 79.5 Tax rate 3) 34.0 % n/a (60.2) % n/a ROCE Income (loss) before interest after taxes 74.4 14.9 (213.5) 51.6 Average capital employed 4) 2,771.5 2,590.4 3,046.4 2,962.6 ROCE 5) 3.6 % 2.3 % (9.3) % 7.0 %

1) Interest expense less Interest income. 2) Taxes on interest (income) expense, net have been calculated on a simplified basis applying the tax rate determined under “Calculation of tax rate” on interest (income) expense, except for taxes on a quarterly basis. Taxes on interest (income) expense on a quarterly basis are determined as the difference between taxes for the nine months ended June 30 and the six months ended March 31, 2013 and 2012. 3) The tax rate is calculated by dividing income taxes by income (loss) before income taxes (each as presented in the combined statement of income of OSRAM Licht Group). 4) Average capital employed in the reporting period is defined as a two-point average of capital employed at the beginning of the reporting period and capital employed at the end of the reporting period. 5) During the fiscal year, ROCE is calculated as annualized income (loss) before interest after taxes divided by average capital employed. On a quarterly basis, annualized income (loss) before interest after taxes is calculated based on the income (loss) before interest after taxes for the quarter multiplied by the factor four. On a year-to-date basis, annualized income (loss) before interest after taxes is calculated based on income (loss) before interest after taxes on a year-to-date basis divided by past quarters and multiplied by the factor four. OSRAM Licht AG 33 Glossary Interim Announcement

The glossary contains a short definition for typical Halogen Lamp (HAL) Halogen lamps are type of incan terms used in the lighting industry and within OSRAM. descent lamps that are filled with a gas that contains small In addition, it describes key financial terms to make amounts of halogens or halogen compounds enabeling our financial reporting easier to understand. smaller bulbs and higher luminous flux.

Control Gear (CG) Most electrical light sources, with the Incandescent Lamp (INC) Incandescent lamps are elec exception of the incandescent lamp, require a special device trical light sources which radiate light as a result of a tungsten to start and to operate. Depending on the light source tech- filament being heated. The tungsten wire is enclosed in a nology, they are named ballasts, ignitors or transformers and sealed, gas-filled—or in some cases evacuated—glass bulb. belong to the category of control gears. The term is the umbrella term for electromagnetic (= conventional control gear Lamp The term “lamp” refers to an engineered artificial light or ballast) and electronic (= ECG) operation devices, which source—a device that converts electrical energy into light and also subsumes LED drivers. that has a standardized electrical and mechanical connection to the lampholder. Lamps are used in luminaires, which dis- The phrase control gear describes devices for one or more tribute and direct lamp light and prevent it from causing glare. components between the supply and one or more lamps which may serve to transform the supply voltage, limit the LED (Light Emitting Diode) A LED consists of a light emit- current of the lamp(s) to the required value, provide starting ting semiconductor chip in combination with wiring, reflector, voltage and preheat current, prevent cold starting, correct lens and protective covering to create a package. The term power factor or reduce radio interference”. LED module is sometimes used synonymously.

Also starters (e.g. for fluorescent lamps) and step down LED Lamp A LED lamp is a light source incorporating one convertors (for incandescent or halogen incandescent lamps) or more LEDs on a board and it also includes secondary are covered. optics, heat sink, driver electronics and housing. It can be used as a replacement for existing lamps in form of retrofit Diode A diode is a two-terminal electronic device which (replacement of another type of lamp without requiring permits significant current flow in only one direction. internal modification of the luminaire) or conversion (requiring Diodes typically function as a rectifier, i.e. converting AC modification in the luminaire). The term LED retrofit is some- into DC. times used synonymously.

Discharge Lamp Discharge lamps generate light by send- LED Light Engine LED light engines are the combination ing an electrical discharge through an ionized gas or metal of an LED module and its associated electronic control vapor. Depending on the gas with which a lamp is filled, it gear assembled in a unit according to the standardization either radiates visible light directly or converts UV radiation consortium Zhaga. to light through interaction with a luminescent coating on the inside surface of the glass enclosure. The operating pres- LED Module See LED. sure inside a discharge lamp is either low (low pressure discharge lamps) or high (high-pressure discharge lamps). LED Retrofit See LED lamp. Low and high pressure discharge lamps are divided by the lamp load. Light (Visible Light) Visible light is the radiation that can be perceived by the human eye. The spectral range of light Fluorescent Lamp (FL) See Discharge Lamp. Fluorescent embraces wavelengths from 380 to 780 nm and is divided lamps are available in different shapes, such as linear fluo- into the different color sections ranging from violet through rescent lamps (LFL), tube shaped and compact fluorescent blue, green and yellow to red. Outside this band, the human lamps (CFL). eye cannot “see” radiation.

Forward Integrated SSL products Forward integrated Light Management Systems (LMS) Light management SSL products (SSL Forward) are SSL lighting products systems automate the lighting and related controls within a (LED Lamps, LED light engines, or LED Luminaires) made room, building or in outdoor applications. Their task is to of semiconductor based lighting components such provide the right light in the right amount at the right place as LEDs. when it is needed. OSRAM Licht AG 34 Interim Announcement

Light Solution A light solution is a specific use case tailored Financial Terms to the application for which an arrangement of luminaires, light sources, controlgear and light management has been Costs Associated with the Separation/for Going Public planned and is executed; servicing of the installation can (net) Expenses and income associated with the separation be included. and planned IPO and spin-off, as well as patent infringement disputes. These primarily comprise costs incurred in Luminaire (Lighting Fixture) The term luminaire (some- connection with the listing and the establishment of times also referred to as “lighting fixture”) refers to the entire OSRAM as an independent company (which were partly electric light fitting, including all the components needed reimbursed by Siemens), legal costs and income from to mount, operate and protect the lamp. The luminaire dis the settlement of patent infringement disputes, which esca- tributes the light of the lamp and e.g. prevents it from lated after the announcement of the originally planned causing glare. IPO, special payments to management staff in connection with the IPO, as well as the relocation of OSRAM’s head- Organic Light Emitting Diode (OLED) An OLED is a light quarters in Munich. emitting semiconductor that has an electroluminescent zone made of organic compounds. OLEDs are typically area Costs Associated with Substantial Legal and light sources. Regulatory Matters OSRAM is involved in various legal disputes in connection with its business activities. OSRAM Opto-electronic Semiconductor A type of semiconduc- classifies these as special items if they are considered tor that transforms electric impulses into light or light into material by the Company’s management and are of an electric impulses. substantial nature, e.g. the expenses of € 34.2 million relating to a trademark and license dispute that were incurred in Solid State Lighting (SSL) Solid state lighting (SSL) refers fiscal2012 . to a type of lighting that uses semiconductors as sources of illumination. Currency Translation Effects A significant portion of OSRAM’s transactions are settled in currencies other than SSL Products SSL stands for solid state lighting and iden the euro. The effects of changes in exchange rates on tifies the newest generation of lighting products such as translating revenue into euros (in the context of preparing LEDs. For the purpose of the Environmental Portfolio, OSRAM the financial statements) are referred to as currency trans definesSSL products as, semiconductor-based light lation effects. In addition to the nominal change in its reve- sources, luminaires and detectors, as well as light manage- nue (e.g., compared with the previous year), OSRAM also ment systems for such light sources. It includes: reports the “comparable” changes adjusted for currency ––LED lamps, luminaires and systems in their entirety, translation effects and portfolio effects (see definition). including any necessary components and services sold This provides the basis for a meaningful analysis of the com- as part of a LED light solution, pany’s business performance while excluding these dis ––LED chips and light engines, torting effects from currency translation. ––OLED—organic light emitting diodes, ––Infrared emitters, producing electromagnetic radiation Debt Debt comprises liabilities related to funds raised by a close to the spectrum of visible light, company, in contrast to, e.g., trade payables. Debt includes ––Laser diodes, liabilities to banks (credits, loans), bonds and other debt ––Silicon photodetectors, semiconductors which react to instruments issued, as well as obligations under finance and may be used to measure light, leases. ––Sensors, which are a combination of a semiconductor emitter and a photodetector Earnings per Share (EPS) Net income divided by the num- ––Light management systems (sensors, user interfaces and ber of shares outstanding with rights to residual interests controllers; actuators for traditional lamps are excluded) in a company. Earnings per share can either be expressed and associated components and services. as “basic” or “diluted”; dilution refers to a reduction or increase in the earnings per share based on the assumption that new shares will be issued or that options and warrants will be exercised. OSRAM Licht AG 35 Interim Announcement

EBITA Abbreviation for “earnings before interest, taxes, and Research and Development Intensity (R&D Intensity) amortization.” OSRAM defines this measure as the gain The ratio of research and development costs to revenue (loss) before financial result (meaning the income [loss] from as a percentage. investments accounted for using the equity method, net, interest income, interest expense, and other financial income Return on Capital Employed (ROCE) The ratio of earnings [expense], net), income taxes, and amortization and impair- to average capital employed. A measure that shows how ments of intangible assets. EBITA is also given as the ratio to efficiently a company manages the capital of its shareholders, revenue (EBITA margin). creditors, and other lenders (depending on the definition).

EBITDA Abbreviation for “earnings before interest, taxes, Revenue Growth/Change (Comparable) Comparable depreciation, and amortization”. This indicator corresponds revenue growth/changes in revenue or revenue growth on a to EBITA before depreciation and impairments of property, comparable basis refers to revenue growth after adjustment plant, and equipment. for currency translation and portfolio effects.

Free Cash Flow A measure that presents operational cash Special Items Management defines these as recurring and performance. OSRAM defines free cash flow as net cash nonrecurring effects within EBITA. At OSRAM, these primarily provided by (used in) operating activities less additions to comprise transformation costs, costs associated with the intangible assets and property, plant, and equipment. separation/for going public (net), as well as costs associated with substantial legal and regulatory matters (see the rele- Gross Profit Revenue minus costs of goods sold and vant sections). services rendered. Gross profit provides information on the profitability of the business only in terms of revenue-related Transformation Costs Costs resulting from various cor costs. Gross profit is also given as the ratio to revenue (gross porate programs and strategic restructuring activities where profit margin). the corresponding corporate measures are linked to the underlying shift in the lighting market. These primarily com- Net Debt/Net Liquidity Liabilities from funds raised, less prise the cost of personnel measures in connection with liquidity. OSRAM defines net debt as short-term and long- OSRAM Push, impairment losses and losses on disposals term debt plus payables to Siemens Group from financing of property, plant, and equipment, as well as other trans activities less cash and cash equivalents plus available-for- formation costs such as for consulting services. sale financial assets, and plus receivables from Siemens Group from financing activities. Munich, August 14, 2013 Net Debt, Adjusted Net debt plus pension plans and simi- The Managing Board lar commitments, and credit guarantees.

Portfolio Effects Changes to revenue resulting from the acquisition and divestment of parts of the Company are referred to as portfolio effects. In addition to the nominal change in its revenue (e.g., compared with the previous year), OSRAM also reports the “comparable” changes adjusted for portfolio effects and currency translation effects (see definition). This provides the basis for a meaningful analysis of the company’s business performance while excluding these distorting effects from acquisitions or divestments.

Regions OSRAM’s business is divided into the EMEA, Ame ricas, and APAC reporting regions. EMEA comprises Europe, Russia, the Middle East, and Africa. The Americas region includes the U.S.A., Canada, Mexico, and South America. The APAC region comprises Asia, Australia, and the Pacific.