Morgan Stanley TMT Conference Barcelona, 15 November 2012

Dominik Asam Chief Financial Officer Table of Contents

 Infineon at a Glance

 Growth Outlook

 Results and Outlook

Disclaimer: This presentation contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group. These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business development may therefore differ materially from what has been expected. Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements.

Q4 FY 2012 revenue: EUR 982m

ATV IPC € 416m € 181m

PMM CCS € 247m € 126m

OOS+ C&E* € 12m

* Other Operating Segments; Corporate and Eliminations.

[EUR m] Q3 FY12 Q4 FY12 FY 2012

Revenue 990 982 3,904

Segment Result 126 116 527

SR Margin 12.7% 11.8% 13.5%

[EUR m] Net Income* 82 138 427 990 982 Investment 158 246 890

FCF from cont. -22 47 -219 126 116 operations

Gross Cash 2,150 2,235 2,235 Q3 FY12 Q4 FY12 Revenue Segment Result Net Cash 1,907 1,940 1,940

* Net Income includes „income from discontinued operations, net of income taxes“ in Q3 FY12 EUR -8m, in Q4 FY12 EUR 9m and in FY 2012 EUR-5m. Net Income in Q4 FY12 includes income tax benefits of EUR 52m.

ATV IPC PMM CCS

Distributors

Automotive Power Chip Card #2 #1 #1

Renesas 14% Infineon 12% Infineon 25%

Infineon 10% Mitsubishi 8% NXP 24%

STMicro 9% Toshiba 7% Samsung 21%

Freescale 8% STMicro 6% STMicro 18%

NXP 6% Int. Rectifier 5% SHHIC 10%

Calendar year 2011. Calendar year 2011. Calendar year 2011. Source: Strategy Analytics, April 2012. Source: IMS Research (an IHS company), Source: IMS Research (an IHS company), July 2012. August 2012. 14 Nov 2012 Copyright © Infineon Technologies AG 2012. All rights reserved. Page 6 Table of Contents

 Infineon at a Glance

 Growth Outlook

 Results and Outlook

'90 – '10 '10 – '30 Changes

 Electrification of powertrain fuels demand for high-power semis in cars and doubles silicon content. Courtesy: Tesla

 Shift towards renewable energies requires orders of magnitude more high-power semis per MW of power generated.

 Higher efficiency in power conversion lowers

CO2, material and electricity costs.

 Stronger demand for goods containing power semis due to faster increase in standard of living in BRIC countries.

Global car production (cars ≤ 6t)

[units m]

CAGR(11-15) = 4.8%

+1.9% 100.7 92.6 97.3 82.4 87.5 80.9 8 8 74.4 76.8 8 9 18 9 9 17 17 59.5 9 8 16 13 15 15 8 12 9 42 44 36 39 28 29 31 33 21

16 19 20 19 19 20 20 21 22

2009 2010 2011 2012 2013 2014 2015 2016 2017

Europe APAC North America Japan ROW

Source: IHS, October 2012.

Semiconductor value per car by region Semiconductor value per car

[USD per car] 329 World 247 CAGR 323 +2.0% China 200 +5.4% 2013 2012

223 CAGR Brazil Semiconductor market by segment 184 +4.9% [USD bn] 512 CAGR 8.2 CAGR Japan Powertrain 437 +4.0% 5.6 +10.1%

451 CAGR 11.3 CAGR Europe Safety 387 +3.9% 7.5 +10.8%

380 CAGR 8.2 CAGR S. Korea Body 332 +3.4% 6.1 +7.6%

452 CAGR 6.3 CAGR N. America +3.0% Infotainment 402 4.5 +8.9%

2015 2011 2015 2011

Source: Strategy Analytics, October 2012; including semiconductor sensors.

1 Generation Grid Consumption Wind AC DC AC DC AC turbine

[Hz]

Generation Grid 2

Solar Generation to Grid to Generation inverter Generation Grid

3 [Hz]

Variable speed drive Grid Consumption

4 [V]

Power supply Grid

50/60 Hz [V] 5 ConsumptiontoGrid

DC/DC conversion Consumption

 Infineon at a Glance

 Growth Outlook

 Results and Outlook

Revenue and Segment Result

[EUR m] FY 2012 revenue split -5% by product category

1,038 986 990 982 946

19% 15% 15% 13% 12%

195 Power eControl others 141 144 126 116

Q4 Q1 Q2 Q3 Q4 FY11 FY12 Revenue Segment Result Segment Result margin

Courtesy: Hyundai ATV IPC PMM CCS

[EUR m] [EUR m] [EUR m] [EUR m] +5%

425 428 416 396 391 -16% -4%

256 247 216 222 227 233 +9% 196 174 177 181 17% 14% 15% 13% 11% 25% 18% 14% 14% 15% 116 112 122 126 23% 20% 16% 15% 14% 97 15% 14% 14% 13% 6% 66 55 63 54 47 49 64 16 6 14 18 18 39 27 26 26 40 32 33 37 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 FY11 FY12 FY11 FY12 FY11 FY12 FY11 FY12

Revenue Segment Result Segment Result margin

Worldwide Automotive Semiconductor Ranking for 2011

9.8% 1. Renesas 13.8%  -0.3%-pt 2. Infineon 9.8%  +1.0%-pt 8.2% Infineon 3. STM 8.7%  +0.4%-pt strengthened 5.7% 4. Freescale 7.9%  -0.5%-pt world‘s #2 postion; 5. NXP 6.4%  -0.4%-pt 3.9% 6. Bosch 5.8%  +0.2%-pt rose from #8 to #4 7. TI (incl. NSM) 4.7%  0%-pt position in Japan.

1994 1998 2002 2011

Europe APAC & others* North America Japan

1. Infineon 14.7% 1. STM 10.1% 1. Freescale 13.8% 1. Renesas 35.1% 2. STM 11.3% 2. Infineon 9.0% 2. Infineon 8.5% 2. Toshiba 13.0% 3. Bosch 9.4% 3. Renesas 7.5% 3. STM 8.0% 3. Fujitsu 3.9% 4. Freescale 8.7% 4. Freescale 7.4% 4. Renesas 7.5% 4. Infineon 3.8% 5. NXP 8.2% 5. NXP 7.3% 5. NXP 6.7% 5. Rohm 3.6% 6. Renesas 8.0% 6. Bosch 5.7% 6. TI 6.0% 6. STM 3.6% 7. TI 6.8% 7. Toshiba 2.9% 7. Bosch 3.7% 7. ON 3.1% 8. ON Semi 3.0% 8. TI 2.6% 8. ON 3.3% 8. Sanken 2.9%

Source: Strategy Analytics, April 2012 * According to Strategy Analytics this ranking also includes Russia, South America, Australia and further countries.

RASIC serves rapid growth in advanced driver assistance systems

 Infineon’s Radar System IC (RASIC™) series consists of a group of highly-integrated functions for 77 GHz automotive radar sensors.  With more than 1m devices shipped since 2009, Infineon is a market leader today and strengthens its future position with the recent release of a “77 GHz radar-in-package”.  Multiple design-wins have been recorded at major automotive suppliers in the USA, Europe and Asia.

30 First 77 GHz 25 radar solution in

20 eWLB SMD

15 package.

radar sensors (millions) sensors radar Shipments of automotiveof Shipments 0  Bringing 77 GHz performance 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 to the short- and mid-range Short/Mid-Range Long-Range Source: Strategy Analytics, 2012 market.

Enabling high-efficiency AC/DC conversion while reducing system costs

 uses digital control algorithms allowing system complexity reduction and flexibility to adapt to rapidly-changing market requirements.

 is tailored to offer our customers best in both system cost and efficiency over all load Component reduction through use of in a conditions. power adapter

Target applications  started volume shipments for power adapters.  Design-in activities now ramping for LED lighting.

Integrity Guard – Security for the connected world

 Infineon„s innovative Integrity Guard digital security technology has been nominated for the “German Future Prize 2012 - The Federal President`s Award for Innovation and Technology”.

 This award recognizes outstanding technical and scientific innovations from Germany. Nomination alone is regarded as the highest commendation for technology and innovation in Germany.

 Integrity Guard is based on digital security and displays two revolutionary innovations:  The completely encrypted storage and processing of on-chip data combined with  two CPUs – constantly checking each other; and a full digital error-detection system.

Outlook Q1 FY13* Outlook FY 2013* (compared to Q4 FY12) (compared to FY 2012)

Revenue to decline Mid- to high-single digit Revenue by low teens percentage. percentage decline.

Segment Between In the mid- to high- Result 4 and 6 percent. single digits. Margin

Investments in FY 2013 About EUR 400m.

D&A in FY 2013 About EUR 470m.

* This outlook is based on an assumed Euro/US Dollar exchange rate of 1.25.

OpEx Development

S and G&A R&D

[EUR m] 15% 121 119 118 123 120 117 119 116 110 106 110 14% 100

80 13%

60 12%

40 11% 20

0 10% Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 FY11 FY12 FY11 FY12 General & Administration Selling R&D % of sales

Working capital* Inventories

[EUR m] [EUR m] [days] Q4 FY11 Q1 Q2 Q3 Q4 FY12 539 546 567 600 507 521 80 0 400 60 -200 40 -400 200 -333 -353 20 -461 -422 -600 0 0 Q4 FY11 Q1 Q2 Q3 Q4 FY12 -800 -663 Inventories DOI* Trade and other receivables Trade and other payables

[days] 735 [days] [EUR m] 593 [EUR m] 600 554 540 563 539 80 608 622 80 600 564 523 60 60 400 400 40 40 200 20 200 20

0 0 0 0 Q4 FY11 Q1 Q2 Q3 Q4 FY12 Q4 FY11 Q1 Q2 Q3 Q4 FY12 Trade and other receivables DSO* Trade and other payables DPO*

* For definition please see page 28 in appendix.

Investments* D&A

[EUR m] 887 890

~ 470 453 ~ 400 428 364 325 336

115

FY FY FY FY FY FY FY FY FY FY 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 Q1 Q2 Q3 Q4 Guidance

* For definition please see page 28 in appendix.

Liquidity Development

[EUR m] Gross Cash Debt Equity-linked Net Cash 114 191 100 101 103 100* 169

162 140 195

2692

2387

2337

2235

2190

2150

2068

1940

1927 1907

Q4 Q1 Q2 Q3 Q4 FY11 FY12

* Consists of convertible bond (nominal value EUR 113m; book value EUR 100m).

 Gross cash increased due to Free Cash Flow and an increase of debt of EUR 52m. Net cash impact correspondingly lower.  Bought back EUR 5m nominal of convertible bond for EUR 12m.  No buyback of shares during the quarter. But put options for 5m shares lapsed with EUR 2.2m premium received.

Total share buyback history via convertible bond and put options

[shares m] [EUR]8

7.05 4 10 3 6.82 7 6.81 6.74 6,72 6.68 6,60 8 6.70 6.40 6.23 6.55 6.276.20 6 6,11 6.25 6,01 6 4

End of Capital Return Program Program Capital ofEnd Return 31 2013.March on 12 3 2 8 8 0 0 2 0 5 Q1 FY11 Q2 Q3 Q4 Q1 FY12 Q2 Q3 Q4

# of shares underlying the convertible [lhs] # of exercised options [lhs] cum. avg. price incl. opt. premium [rhs] cum. VWAP [rhs]

Total gross capital returns history

[EUR m]

350 308 300

250 109 212 200 26 150 130

100 109 173 26 130 20 50 20 80 16 50 50 12 62 27 00 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY11 FY12 FY11 FY12 CB 2014 share buyback (via put options) dividends

RoCE* history

100% 80% FY11: 62% 82% WACC: low teens % 60% 64% 59% 53% 40% FY10: 30% 46% FY12: 22% 20% 27% 31% 27% 25% 20% 27% 0% -9% -20% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY10 FY11 FY12 Capital Employed* history 2,000 [EUR m] 2,035 1,889 1,760 1,629 1,500 1,496 1,499 1,456 1,397 1,347 1,273 1,196 1,239 1,000

500

0 Q1 FY10 Q2 Q3 Q4 Q1 FY11 Q2 Q3 Q4 Q1 FY12 Q2 Q3 Q4

* For definition please see page 28 in appendix.

Investments = 'Purchase of property, plant and equipment„ + 'Purchase of intangible assets and other assets' incl. capitalization of R&D expenses

Capital Employed = 'Total assets‟ – 'Cash and cash equivalents‟ – 'Financial investments‟ – 'Assets classified as held for sale‟ – ['Total Current liabilities‟ – 'Short-term debt and current maturities of long-term debt‟ – 'Liabilities classified as held for sale„]

RoCE = NOPAT / Capital Employed = ('Income from continuing operations‟ – 'financial income‟ – 'financial expense„) / Capital Employed

Working Capital = ('Total current assets„ – 'Cash and cash equivalents„ – „Financial investment„ – 'Assets classified as held for sale') – ('Total current liabilities„ – 'Short term debt and current maturities of long-term debt„ – 'Liabilities classified as held for sale')

DOI (inventory days; quarter-to-date) = DSO (days sales outstanding; quarter-to-date) = ('Net Inventories' / 'Cost of goods sold') * 90 ('Trade accounts receivables (net)' / 'revenue') * 90

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

Regensburg Employees: 1,081 Dresden Employees: 1,767 Temps: 202 Temps: 168 Capacity: 48k WSPM Capacity: 45k WSPM Technology: >200nm Technology: >90nm Complexity: 16 mask layers Complexity: 30 mask layers Products: Power Products: CMOS

OOS 4% ATV 47% CCS 1% OOS 1% ATV 74% IPC 1% PMM 5% PMM 19% CCS 47%

Villach Employees: 1,669 Kulim Employees: 1161 Temps: 331 Temps: 172 Capacity: 120k WSPM Capacity: 85k WSPM Technology: >200nm Technology: >200nm Complexity: 11 mask layers Complexity: 12 mask layers Products: Power Products: Power, CMOS

IPC 24% OOS 2% ATV 38% PMM 35% PMM 24% ATV 50% CCS 9% IPC 18% Note : As of September 2012. WSPM = Wafer Starts Per Month (200mm equivalent), typical technology.

Morgan Hill, USA Warstein, Germany Cegléd, Hungary

Employees: 121 Employees: 852 Employees: 531

Competence center High power, R&D High power RF power

Wuxi, China

Regensburg, Germany

Employees: 779

Sensors, chip card, Employees: 1,666 power, wafer level, Chip card, discretes R&D

Malacca, Malaysia Singapore Batam, Indonesia

Employees: 6,828 Employees: 1,203 Employees: 2,283 Power, discretes, Tester pool, R&D Power leadframe sensors, logic, R&D

Note : As of September 2012.

Breakdown of total investments in FY12 of EUR 890m

Capacity Innovation

Frontend Quality Maintenance / facility Backend

Intangible assets, Others capitalized R&D

UN Global Compact Initiative Certifications

 As one of the first semiconductor companies worldwide, Infineon joined the Global Compact Initiative of the United Nations in 2004.

Dow Jones Sustainability Index

 Based on our efforts for resources management, safety and health standards,  Infineon is currently Europe‟s one and Infineon received the EN ISO only semiconductor company member 14001 and OHSAS 18001 in the Dow Jones Sustainability Indexes. multi-site certification.

Date Location Event

15-16 Nov 2012 Barcelona Morgan Stanley TMT Conference

Company Roadshow

20 – 21 Nov 2012 London including presentation by Dr. Helmut Gassel Division President, Industrial Power Control (IPC)

27-28 Nov 2012 Scottsdale, AZ Credit Suisse Technology Conference

06 Dec 2012 London Natixis Payment Revolution Conference

31 Jan 2013* Q1 FY13 Results

28 Feb 2013 Munich Annual General Meeting

02 May 2013* Q2 FY13 Results

30 Jul 2013* Q3 FY13 Results

12 Nov 2013* Q4 FY13 and FY 2013 Results

* provisional

Ulrich Pelzer Corporate Vice President  +49 89 234-26153 Finance, Treasury & Investor Relations  [email protected]

Joachim Binder Senior Director  +49 89 234-25649 Investor Relations  [email protected]

Holger Schmidt Manager  +49 89 234-22332 Investor Relations  [email protected]

Bernard Wang Manager  +49 89 234-22669