#1Sensinty Update on strategy & Second quarter results 2023 Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations July 2023 amu OSRAM#2Focus on profitability and on monetizing innovation, benefitting from structural growth and our strong position in our key markets Strategy & business outlook reassessed by new management team - 2 Key challenges of previous business model Strong focus on disruptive, custom technologies for high volume opportunities in the Consumer device arena is risky when it comes to industrialization, execution and market adoption 'Home-made' execution issues, partly due to unclear ownership in current matrix organization Uptake of new markets or adoption of new, disruptive technologies have not always happened as quickly as planned De-prioritization of some structural growth opportunities in sticky core markets such as Automotive, Industrial and Medical High sensitivity to macro-economic shocks such as pandemic and geopolitical crises Adjusted business model Focus semiconductor portfolio on differentiated, intelligent sensors and emitter components Expand leading positions in relevant Automotive, Industrial, Medical markets with strengthened investments into structural growth opportunities Exit non-core semiconductor businesses with revenue run-rate of EUR 300 400 million - Continue to pursue specific opportunities in Consumer markets where we sustainably differentiate Invest selectively in disruptive innovation such as microLED technology 'Re-establish the Base' program adjusting semiconductor portfolio, company over-head, infrastructure and organization to new adjusted business model Streamline organizational set-up within Semiconductor segment by going from 3 to 2 Business Units with full end-to-end ownership & responsibility Portfolio streamlining and efficiency measures target savings of EUR 150 million by end-of-2025 and improving Cash Flow of the Group Laying the foundation for 6 – 10% revenue CAGR from new base and -15% adj. EBIT by 2026 amu OSRAM#3Benefitting from structural growth and our strong position in Automotive, Industrial, Medical markets Growing from the core of sensor & emitter components by increasingly adding intelligence to drive system performance Semiconductor Addressable Markets* - application view - 2022 / CAGR** Automotive EUR 3 bn 17% CAGR Core Semiconductor Portfolio = Functional Applications Sensing 3 Industrial/Medical EUR 6 bn 4% CAGR Selected high-volume Consumer applications EUR 1.5 bn 24% CAGR Intelligent sensors Sensors Leading positions Technology Leadership Innovation Emitters -------- ------- & Mixed Signal ICs & ams OSRAM market model due to lack of suitable external market models ** 2022 - 2026 CAGR due to 2022 was last full year actuals, and cyclical dip in 2023 => No dedicated market reports for ams OSRAM addressed application segments available Intelligent emitters Illumination Visualization amu OSRAM#4Growth in core portfolio is driven by secular megatrends Digitalization Automotive Projected lighting Smart surfaces • Advanced displays (incl. microLED) Industrial Medical Consumer • • Industrial automation Robotics Medical imaging Smart Living (IoT) Dynamic forward & signal lighting Home Automation Building Automation Energy efficiency & sustainability 4 · Camera enhancement • Spectral & light sensing • AR/VR glasses sensing & visualization In-cabin sensing ADAS/AD (LIDAR) Outdoor lighting • Industrial lighting Personal & home care · Vital signs monitoring • Ambient lighting, UV-C* disinfection *Ultra Violet light at 200 - 280 nm wavelength Horticulture LED + laser projection UV-C disinfection UV-C* disinfection Enhanced display management Next generation displays (microLED) amu OSRAM#5Addressed application segments grow faster than the overall market Semiconductor focus markets - product category view vs addressed application segment view Addressed Semiconductor Markets* - application view - 2022/4-yr CAGR** Automotive EUR 3 bn 17% CAGR Industrial/Medical EUR 6 bn 4% CAGR Selected high-volume Consumer applications EUR 1.5 bn 24% CAGR ~€10bn SAM* of €66bn *** TAM *ams OSRAM market model due to lack of suitable external market models 5 ** 2022- 2026 CAGR due to 2022 was last full year actuals, and cyclical dip in 2023 Optoelectronics & Sensors LED market (incl. microLED) Light sensors CAGR 3.1% ~74bn ~66bn (Source: WSTS) ■2022 2026 CAGR 7.6% ~14bn ~19bn CAGR 8.2% ~2.2bn ~3.1bn (Source: Trendforce) 2022 2026 (Source: WSTS) 2022 2026 *** Serviceable Addressed Market => no dedicated, only partial market reports for ams OSRAM addressed application segments available amu OSRAM#6ams OSRAM holds leading positions in its core Semiconductor & Lamps markets Leverage strong positions with focused core portfolio and commitment to Automotive, Industrial, Medical markets #2 in LED LED Suppliers by 2022 market share (Total market USD ~12bn; TrendForce) #2 in Light Sensors Light Sensor Suppliers by 2021 market share (Total market USD ~1.3bn; OMDIA) #1 in traditional Auto lamps/bulbs Bulb Suppliers by 2022 market shares (Total market USD -1.5bn; own market model due to lack of external research) 1. Nichia 15% 1. STMicroelectronics 30% 1. 2. ams OSRAM 13% 2. ams OSRAM 25% 2. 3. Seoul Semiconductors 7% 3. Maxim 8% 4. Samsung LED 7% 4. 5. Lumileds 6% 5. Sensortek (Sitronix) Lite-On 8% 4% ams OSRAM Lumileds 3. Others (incl. Asian suppliers) 00 6 Sources: TrendForce 2023 LED Player Revenue and Capacity 2Q23, OMDIA Light Sensor Report - 2022 H7|12V OSRAM NIGHT BREAKER +200% 200 150M +20% NEW amu OSRAM#7Automotive & Industrial/Medical contribute already today ~80% of revenues Revenue split H1 2023 for group and by segments ams OSRAM Group Consumer I&M* 7 31% 18% *I&M denotes Industrial & Medical Semiconductors Lamps & Systems Emitters -56% Sensors + ICS >)))) -44% Consumer 8% 25% Automotive 51% I&M 67% Automotive Automotive I&M 6% 31% 54% 40% I&M Consumer 69% Automotive amu OSRAM#88 Benefitting from balanced regional set-up and healthy customer split Strong regional presence and very balanced customer portfolio Revenues by region (H1 2023) Top customers split (H1 2023) Americas 22% EMEA 31% 47% APAC Other customers 18% O 68% Top 3 customers 14% Top 4-10 customers amu OSRAM#99 Semiconductors core portfolio in Automotive, Industrial, Medical drives significant future growth Strong design win base enables meaningful growth from new core portfolio in Semiconductors 2023-2026 CAGR from new base (predominantly driven by '25 and '26) 6% to 10% -- Exit of Semi non-core business ~300-400 m€ Monetizing innovation: Ramping Kulim-2/ microLED Automotive Semi 9% to 13% L&S 0 to 2% Pixelated LED Forward Lighting Standard LED Forward Lighting LED Signaling LED Ambient Lighting Lasers for Lidar Specialty sensors (Driver Monitoring, Rain, Position, ...) Industrial/Medical Broad based growth vectors: LED lighting Horticulture Lasers for projection Specialty sensors for CT scanning Emitters / Sensors for robotics Emitter / Sensors for diverse applications 2023 ■Lamps & Systems Semiconductors 2026 Non-core Consumer Re-won and new sockets in portable Consumer devices: Ambient Light Sensing Proximity Sensing 1d/2d/3d ToF Camera Enhancement amu OSRAM#10Re-establish the Base program Focusing on our core as the new base for sustainable, profitable growth 10 TITIT Portfolio Set-up & Infrastructure Exit non-core semiconductor portfolio of ~300 to 400 m€ run-rate Adjusting the organization and the infrastructure to the new base Monetizing Innovation Streamlining the organization for stronger accountability with end-to-end responsibility Objectives: 1. Focus the portfolio on the core with the highest profitability and the best growth perspective 2. Center mindset and accountability on "monetizing innovation" and overall profitability 3. Make the company lean and efficient by having the appropriate size, infrastructure and agility 4. Bottom-line improvements from portfolio-measures and savings (75m€ run-rate by end-2024, 150m€ run-rate by end-2025) for improved profitability in 2024 and ~15% adj. EBIT by 2026 onwards amu OSRAM#11First L&S, now Semiconductors: Focused portfolio for improved profitability Development of L&S segment revenues and EBIT margin (adj.) since 2021, figures in EUR million Proven track record of successful portfolio re-alignment with focus on sustainable and profitable businesses Reduction of revenue base while markedly increasing profitability Focus on attractive core business areas, similar approach now applied to Semiconductors segment 17.1% 500 451 457 448 14.6% 439 422 400 411 400 384 380 10.2% 300 251 7.6% 200 6.0% 5.5% 4.5% Г EBIT margin (adj.) Revenues YoY deconsolidation effects due to disposals 100 1.6% 1.0% 0.6% 0 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 12 amu OSRAM#12Re-assessment of portfolio and market outlook leads to an updated mid-term target financial model Focus on profitability and structural growth from the new core portfolio in Semiconductors Over-the-cycle mid-term target financial model Revenue growth CAGR Adjusted EBIT 6% -10%* ~15% (2026+) Assumptions: Starting base is CY 2023 revenues, less EUR 300m to 400m of non-core semiconductor portfolio to be exited Target Financial Model is valid for new Semiconductor Segment + Lamps & Systems Segment combined CAPEX 10% *>2x WSTS opto-electronics F99 & sensors H99 = 3.1% CAGR 22 to 26 due to addressed segments Long-term target leverage (2) Long-term leverage Net Debt/ (adj.) EBITDA < 2 amu OSRAM#13No clear upswing signal for next 12 month, long-term growth drivers remain sound Macro headwinds expected to prevail throughout next 12 months - afterwards, back to growth track towards 2026 Macro sentiment Automotive sentiment Consumer sentiment Industry and Medical sentiment - next 12 months June Eurozone and US PMIS weaken further into contraction territory. China weaker but still above 50. GDP consensus expectations 2023/24 have stabilized at Eurozone 0.6% 1.0%, US 1.3% 0.7% and China 5.5% / 4.8%. 2023 and 2024 semiconductor forecast w/o memory reduced to -3% yoy and +5.7% y-o-y. Light vehicle production in H2/2023 benefits from inventory restocking and still existing pent-up demand after improved supply chain conditions; +5.3% y-o-y in 2023. H1/2024 reflects lowered demand due to expected macroeconomic headwinds; +1.4% y-o-y in 2024. Global smartphone forecast 2023/24 reduced to 1.144m / 1.170m units implying -5.2% / +2.3% growth. Despite an expected rebound in 4Q23, global smartphone shipments in 2023 lower than 2022. Wearable forecast 2023/24 reduced to 504/545m units implying +2.4% / +8.2% growth y-o-y. China's Industrial Laser Market shows recovery, China high-tech manufacturing industries grew 7.4% y-o-y. German Robotic & Automation sector to grow +13% y-o-y in 2023. Global LED Lighting shipment forecast for 2023 reduced to +3.6% y-o-y. 3 years outlook GDP consensus forecast 2025 shows moderately improving growth in Eurozone (1.6%) and US (1.9%). China growth expected slightly lower (4.7%). - Light vehicle production expected to grow +2.9% y-o-y in 2025 to 90.5m and +2.0% y-o-y in 2026 to 92.3m units. - Significant growth in EVS (CAGR 30% over next 3 years; S&P Global Mobility) that usually also have come with additional emitter & sensor enabled innovations Global smartphone forecast 2025 shows growth increasing to 4.7% y-o-y to 1.224m units. Wearable forecast shows 6.3% y-o-y growth in 2025 to 580m units. MicroLED display shipments to increase to 51.7m units in 2030 (1.3% of FPD shipments) Steady growth of 5-7% p.a. for global industrial robot market until 2027 Horticulture: growing importance of hyper-red lighting for additional yields of almost one-fifth in tomatoes China UV disinfection market expected to reach a market size of US $2.8 bn by 2030 (CAGR 16.2%) 13 Sources: WSTS Semiconductor Market Forecast Spring 2023 IHS Light Vehicle Production Forecast July 2023 OMDIA Micro LED Display Market Tracker 2Q23 OMDIA Smartphone Model Market Tracker 1Q23 IDC Quarterly Wearable Device Tracker Forecast 1Q23 Trend Force 2023 Global LED Lighting Market Analysis 1H23 VDMA Robotics Automation Market Update S&P Global, Bloomberg, Hortidaily.com amu OSRAM#14In Summary: sharpening the profile & the set up for maximum result Focus on profitability and monetizing innovation, benefitting from structural growth in Automotive, Industrial, Medical www New management with holistic value creation mindset and proven track record Focusing the Semiconductor portfolio on its profitable core in differentiated, intelligent sensor and emitter components (l) Strong commitment to structural growth opportunities in AIM backed by secular mega-trends Continue selected investments into high-volume Consumer opportunities where ams OSRAM can provide sustainable differentiation with cutting-edge technology Exit non-core business with revenue run-rate of EUR 300 - 400m, e.g. passive Optical Components Impairment charge of EUR 1,313m due to market re-assessment Automotive & specialty lamps (Lamps & Systems Segment) will continue to contribute meaningfully to Group results "Re-establish the Base" efficiency program & portfolio focus target together EUR 150m savings by end of 2025 Centering our organizational set-up on "Monetizing Innovation" with clear end-to-end ownership Pursuing selected, disruptive innovation such as microLED Mid-term Target Financial Model: 6 - 10% revenue CAGR from new base, ~15% adj. EBIT 2026+ 14 amu OSRAM#15Overview of Q2 - Financials Figures in EUR million (for details refer to "Financial results in detail Q2 2023 and H1 2023") EUR millions Q2 2023 Q1 2023 QoQ Q2 2022 YOY (except per share data) Revenues 851 927 -8% 1,183 -28% Gross margin adj.1) 27.8% 29.3% -150 bps 31.6% -380 bps Results from operations (EBIT) adj.1) 50 50 0% 104 -52% EBIT margin adj.¹) 5.9% 5.4% +50 bps 8.8% -290 bps Net result adj. 1) 31 6 464% -54 N/A Diluted EPS adj. 1) 0.12 0.02 -0.21 Diluted EPS adj. (in CHF) 1)²) 0.12 0.02 -0.21 Operating Cash Flow 232 162 43% 100 133% Net debt 2,034 1,940 5% 1,727 18% 1) Excluding M&A-related, transformation and share-based compensation costs, results from investments in associates and sale of businesses 15 2) Earnings per share in CHF were converted using the average currency exchange rate for the respective periods amu OSRAM#16Short term outlook and FY 2024 comments Q3 2023 guidance Revenues*: EUR 840 - 940 million (adj.) EBIT margin: 5-8% *EUR 120m YOY deconsolidation effects vs. Q3 2022 Q4 2023 comments FY 2024 comments Semiconductors: High uncertainty in end-markets persisting - Especially Industrial and Consumer end-markets are challenged Automotive revenues should continue to stabilize with normalizing supply chain and new products ramping Lamps & Systems: Robust revenues expected due to seasonally strong Automotive aftermarket - Absolute Group revenues expected to decline compared to 2023 due to portfolio decisions Semiconductor core business expected to outgrow target markets - assuming end-markets stabilize Group targets slightly positive Free Cash Flow assuming end- markets stabilize. Significantly reduced CAPEX compared to 2023. Focus on improving profitability Expected and based on current information and exchange rates 16 Adjusted figures exclude M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses amu OSRAM#17Semiconductors: Automotive Growth Drivers 17 amu OSRAM#18Offering full technology range and innovation leadership in automotive emitters and light sensors Leading Positions in Automotive Semiconductor Sub-Segments #1 in Automotive Emitters Auto LED suppliers by 2022 market share (Total market USD ~3.2bn; TrendForce) #1 in Automotive Light Sensors Auto Light Sensor suppliers by 2021 market share (Total market USD ~68m; OMDIA) #16 in Automotive Semiconductors Automotive semiconductor suppliers by 2022 market share (Total market USD ~64bn; OMDIA) 1. ams OSRAM 35% 1. ams OSRAM 34% 1. NXP 11% 2. Nichia 25% 2. Elmos 18% 2. Infineon 11% 3. Lumileds 9% 3. STMicro 8% 3. Vishay 15% 4. Dominant 7% 4. Melexis 6% 5. Seoul Semiconductor 6% 15. Toshiba 1.5% 6. Samsung LED 5. 6% Hamamatsu 4% 16. ams OSRAM 1.5% 7. Stanley 5% 6. Rohm 1% 17. Melexis 1.2% 8. Everlight 2% 18. Sanken 1.1% 9. Cree LED 1% 19. Fuji Electric 1.0% 10. Jufei 1% 20. Nichia 0.9% 18 amin OSRAM Sources: TrendForce 2023 LED Player Revenue and Capacity 2Q23, OMDIA Light Sensor Report - 2022; OMDIA Competitive Landscaping Tool 1Q23 amu OSRAM#19ams OSRAM can build on a strong track record as trusted innovation partner ams OSRAM's long history of driving innovation in the Automotive semiconductor world Rain sensor 1991 1980 1st radial LED in VW 19 37 OSRAM Eviyos 1.0 with microstructured LEDs 1st full color head up display for BMW Ice-blue backlighting color theme with Ford capacitive sensor for Airbag Child Seat Suppression System 2003 1st daytime running LED light with Audi 2007 1st full LED front lighting 2009 2012 2014 1997 2005 2008 2010 2013 2017 1st standard scalable LED forward lighting with BMW, VW 1st VCSEL for LED matrix headlights Driver Monitoring 2017+ 2021 2020 1st ambient light 1st IR laser for emergency 1st ADB sensor reproducing braking for Volvo human eye behavior 1st LED brand color program with VW 1st headlamp products with GM 1st RGB ambient Tailgate sensor (capacitive) for 1st touchless trunk opener 1st 12V battery with high precision current aO sensor 70 NAU-MENO OUSSELDORF HETHRICHSTRAS amu OSRAM#20STOP ams OSRAM Automotive and Mobility Driven by safety, convenience and digitalization Illumination / Visualization Sensing Dynamic signaling Static signaling Ambient lighting Smart Surface Display Backlighting In Cabin Sensing Battery management ~53€ Head Up Exterior Sensing (LiDAR) Display / Projection Power/Analog/ Discretes 26.1% Memory 10.9% ~38€* ~19€ Sensors 6.5% ~14€ Functional illumination Processors/ LED 13% Logic 43.5% ~34€ Optical Sensing ~24€ Position & Angle Sensing 20 *premium cars >50€ already today **Source: Yole Overview of the Semiconductor Devices Industry 2023 Automotive Semicon Market** BOM 2022 BOM 2026 (SAM) (SAM) average € across all vehicle classes Ambient Light Sensing Rain, light & tunnel sensing Touchless trunk opener Dynamic forward lighting Static forward lighting#21Safe Mobility - High Pixelated Forward Lighting (Eviyos) Increasing ams OSRAM semiconductor BOM per car with a strong design-win base 2 21 Example applications Adaptive Driving Beam Symbol projection amu OSRAM Converted Pixelated LED Chip Driver IC Package Power Terminals EVIYOS 2.0 2023 2024 Communications Diagnostic Interface Light 2025+ Converter layer Micro-LED optical layer 1 OEM 7 OEMs > 12 OEMs >150 m€ Design-wins to date (lifetime value) amu OSRAM#22Safe & Autonomous Mobility - InCabin Sensing Increasing ams OSRAM semiconductor BoM per car with a strong design-win base driven by regulation & comfort On-going business relationships with all global OEMs and Tier-1 Driver safety & assistance Cabin & Occupant safety Product portfolio Infrared LEDs Infrared VCSELS IR LEDs are preferred by most OEMs due to better cost efficiency for high-volume 2D Driver Monitoring applications Mid-term, VCSEL growth will be accelerated by use cases related to autonomous driving that require 3D capability both technologies in-house >250 m€ Design-wins to date (lifetime value) 22 22 amu OSRAM#23Semiconductors: Medical / Industrial Growth Drivers 23 23 amu OSRAM#24ams OSRAM has been a trusted partner for decades in Industrial / Medical Leading by system defining component performance, innovation & IP portfolio and deep customer relationships Value proposition for our customers System defining component performance: Differentiating LED and laser technologies with leading performance - know-how across the entire value chain Innovation leadership & broad IP portfolio - recognition of strong technology know-how by our customers In all focus applications, we have deep relationships with the leading customers and innovation drivers across all regions. 24 Broad portfolio of high-performance light and other optical sensors as discrete components elements or integrated module Best in Class LED emitters reinforcing market leadership and unrivaled performance, e.g. in horticulture lighting with hyper red innovation Supply security: European-based specialty analog mixed-signal CMOS fab (Austria) Worldwide regional presence and technical support amu OSRAM#25Addressing Industrial / Medical applications with key to system performance Leveraging differentiated technology base into multi niches where we are key for the system performance Selected applications Medical Imaging & Diagnostics Horticulture & Smart Farming Robotics Structural growth drivers - Aging population Lower radiation dosage Higher specificity - HPS lamp replacement Focus on near-shoring and freshness - Yield improvement through optimized illumination – Project business: subject to energy & financing cost Automation, productivity - Contextual Awareness Typical ams OSRAM BOM potential -25 - several ten k € (from image sensor to module for high end CT scanner) ~100-200 € per luminaire* ~20+ € LED & laser projection Outdoor / Industrial lighting UV-C disinfection Home entertainment, lifestyle Replacement of traditional lamps Trickle-down from premium to mid-range Aging and growing population Urbanization - HID replacement Growth opportunity >2026 Regulation & Hg Lamp replacement once LEDs reach >15% WPE ~5 - 190 € (from simple LED projector to high power material processing) ~5 - 50 € per luminaire* (from small LED street luminaire to high power stadium light) ~20 - 2.500 € (from consumer device to industry scale water reactor disinfection) 25 *fixture combining light source with reflector, lens elements, etc. amu OSRAM#26Example of leading position in niche - Medical Imaging CT scan sensors/ICs 8 out of 10 OEMs employ ams OSRAM products - solid revenue growth 2x market growth projected CT scan detectors (units) Top 10 CT Players ams OSRAM Customer Engagement Generation of 3D images based on X-ray properties CAGR 5.8% ~10.9k ~8.7k (Source: Yole) ■2022 2026 #1 CT Player #2 CT Player engaged #3 CT Player no engagement Start of spiral scan #4 CT Player #5 CT Player #6 CT Player #7 CT Player Rotating Gantry Path of continuously rotating X-ray tube and detector #8 CT Player #9 CT Player # 10 CT Player Direction of continuous patient transport Zsensor Detector Coverage 26 Sources: Yole Intelligence, Digital X-Ray Imaging 2022 volumes ams OSRAM 64-Slice CT Detector Module sumbe Attenuation readings To computer X-ray Tube Detector amu OSRAM#27Semiconductors: Opportunities & growth drivers in Consumer portable devices 27 27 amu OSRAM#28ams OSRAM offering full technology range and best value in focus applications Strong Positions in Consumer Semiconductor Sub-Segments #2 Light Sensor Supplier in Smartphones #3 Sensor & Actuator Supplier in Wearables Sensor & Actuator suppliers by 2022 market share (Total market USD ~864m; Yole) We are present at all Top 15+ Smartphone OEMs globally % of smartphones with ams OSRAM content Light Sensor suppliers by 2021 market share (Total market USD ~1bn; Omdia) Shipments 2021>> 1. STMicroelectronics 36% 1. Bosch 25% 1. Smartphone OEM 1 60% 2. ams OSRAM 26% 2. ST Micro 19% 2. Smartphone OEM 2 100% 3. Sensortek 9% 3. ams OSRAM 7% 3. Smartphone OEM 3 20% 4. Maxim 7% 4. Goermicro 7% 4. Smartphone OEM 4 20% 5. Lumentum 5% 5. Knowles 5% 5. Smartphone OEM 5 30% 6. Lite-On 5% 6. OMRON 5% 6. Smartphone OEM 6 20% 7. Broadcom 3% 7. TDK 3% 7. Smartphone OEM 7 100% 8. TXC 2% 8. Zilltek 2% 8. Smartphone OEM 8 20% 9. Elan 2% 9. Smartphone OEM 9 90% 10. Dyna Image 1% 10. Smartphone OEM 10 40% TOTAL (all OEMs) 50% 75 28 Sources: OMDIA Light Sensor Report Database - 2022, OMDIA Mobile Handset Database Historical Data - 3Q22 ams OSRAM is present in 50% of smartphones shipped in 2021 The addressed OEMs have a unit market share of >80% amu OSRAM#29Addressing relevant, system defining functions in portable consumer devices Focus on significant growth opportunities in camera enhance, 3D AR, body tracking, microLED & smart glasses Focus applications Smartphone Tablets Addressed Functionalities - Camera enhancement (Flicker, Spectral Color Sensors, ToF) 3D AR sensing 3D Authentication - Display Management/ BOLED sensing - MicroLED display 3D AR sensing - 3D Authentication ams OSRAM BOM Potential Mobile BOM: €1-251) Tablet BOM: €3-401) - Display Management / BOLED sensing MicroLED display 707 205 78 Smartwatch Display Management/ BOLED sensing MicroLED display User Interaction (Rotary Encoder) Vital Sign Monitoring AR / VR 29 1) excluding microLED display Display Management Vital Sign Monitoring Face / Hand / Body Tracking Eye Tracking / Authentication - 2D/3D sensing Visualization (Light engine, microLED display, Optical coupling) Watch BOM: €2+ 1) AR/VR Glasses BOM: €5-1001) amu OSRAM#30ams OSRAM's Display Management and Camera Enhancement are leading Our technologies and products are relevant or key for system performance Display Proximity sensing Intensity or ToF-based sensors for touch display on/off. Flicker Detection Elimination of artificial light modulation bands 30 Spectral Ambient Light Sensing Auto White Balancing to improve contrast & low light performance. Light source identification (TL, LED, sun) for better colors. Multi-zone for segmented analysis. Depth Sensing for Auto Focus & Bokeh Single and Multi-zone dToF-based depth sensing for depth-of-field effects and sharp images, also in low light situations AR Support Social media (SnapChat, TikTok), room scanning, navigation, gaming, E-Commerce amu OSRAM#31ams OSRAM's Spectral Ambient Light Sensing makes the difference 8 out of the top 10 smartphones by camera score use ams OSRAM sensors for superior camera performance 100x Autofocus: "Fast and accurate autofocus, even in challenging light conditions"* Top Smartphones by Camera score Smartphone Model Launch Date Camera score AWB & Flicker: 1. Huawei P60 Pro Mar 2023 156 "Excellent for 2. Oppo Find X6 Pro Mar 2023 153 HONOR photographing family and 3. Honor Magic5 Pro Feb 2023 152 friends, thanks to 4. Oppo Find X6 Mar 2023 150 accurate skin tones and high details"* 5. Huawei Mate 50 Pro Sep 2022 149 6. Google Pixel 7 Pro Oct 2022 147 7. Honor Magic4 Ultimate Mar 2022 147 Camera Enhancement: Light, Color, Flicker & Range sensors 8. Apple iPhone 14 Pro Max Sep 2022 146 9. Apple iPhone 14 Pro Sep 2022 146 TMF882x Mutizone dToF TSL2585 ALS/UV/Flicker TCS3410 RGB/Flicker 10. Huawei P50 Pro Jul 2021 143 Winning combination: Spectral + ALS 31 *DXOMARK February 2023, ALS denotes Ambient Light Sensor source: https://www.dxomark.com/smartphones/ amu OSRAM#32Lamps & Systems: Lamps for Automotive, Industrial and Entertainment 32 amu OSRAM#33Strong and stable profit contributor with excellent position in lamps business AMSP is covering automotive, entertainment and industry applications Automotive LED retrofits Fixtures & car accessories Traditional lamps Automotive Aftermarket (AFTM) Entertainment and Industry 33 333 LED & Laser modules (e.g. XLS) Automotive OEM Semiconductors Entertainment Cinema Medical End market split in AMSP lamps Automotive lamps -80% -20% Entertainment & Industry lamps Large installed base globally Expanding our leading market position softens slowly declining market volume LEDr and XLS with positive market growth in declining lamps business New opportunities beyond lamps with fixtures & car accessories using our strong brand and channel position. amu OSRAM#34Monetizing innovation: Next generation (micro) LED and 8" manufacturing 34 amu OSRAM#3535 55 Extremely small microLED are required to enable disruptive mass adoption Chip size Traditional LED >300μm miniLED >100μm 50 μm 30 μm microLED 10 μm 5 μm 1 μm → Strongly increasing technological challenge → Applications Streetlighting Displays: Automotive: Headlamp Direct backlight LIKE Videowall 2 Smartwatch Smartphone AR/VR Luxury TV 4k TV 8k TV Rear light External displays Door display Dashboard microdisplay Older "microLED" products are actually based on miniLED microLED demo products shown ams OSRAM microLED focus amu OSRAM#36UUU microLED displays promise a new and unique user experience Ready to combine some of the really important features that the industry is looking for Highest brightness (e.g. for head-up displays), and robustness to temperature and sunlight FRI OS 12:00 Wide viewing angles No burn-in even for fixed image patterns in bright sunlight Transparent or curved displays Seamless stitching and bezel-free screens#3737 40 Next-generation LED production is key enabler for significant microLED shrink Shrink required to reach acceptable cost level for high-volume applications Status today: Die sizes in existing products typically in the range of 35x60μm² to 15x30μm² 1 to 4 4k displays 1 wafer per color Chip cost too high for market breakthrough of microLED technology Massive die shrink required for mass adoption Key enabler: 8" LED manufacturing Modern state-of-the art and first 8" fab for advanced LED technologies Fully automated material handling system and factory control, advanced process control and material scheduling and fault detection (FDC) technologies SMIF concept that allows lowest defect densities required for advanced (u)LED manufacturing Fab built in industry record time: 1 year from start of construction to first wafer starts amin SAM ams OSRAM focus: Die sizes of 10x10μm and below 25 to >80 4k displays 1 wafer per color Acceptable LED cost for high- volume applications amu OSRAM#38Sustainability commitments. 38 amu OSRAM#39Creating sustainable value and improving lives with optical solutions ESG update: Sustainability Strategy, Carbon Neutrality Goal, ESG Committee ESG ACHIEVEMENTS - Second group sustainability report published, demonstrating our commitment to transparency and accountability (GRI compliant) - Development and implementation of a comprehensive group sustainability strategy including climate strategy, aligned with the Paris Climate Agreement' 1.5° C target - Comprehensive reporting of CO2 emissions, including our own activities (Scope 1 + 2) and significant progress in reporting emissions along the value chain (Scope 3) - Establishment of the ESG Committee, driving our sustainability efforts and ensuring focused decision-making Release of our Sustainability Policy and internal Sustainability Guideline, guiding our actions towards a more sustainable future ESG GOAL Carbon neutrality by 2030 Group to be carbon neutral (Scope 1 & 2) by 2030, endeavor towards net zero ambition Near and long-term targets for science- based reductions of Scope 3 emissions (purchased goods/services) Strategy based on principle "avoid, reduce, compensate", reduction path developed - 100% green electricity at production sites in Germany and Austria Reducing emissions via energy efficiency measures at several locations, plan established to compensate for inevitable CO2 emissions CO2 saving of 9% compared to basis year 2021 39 8 CO₂ amu OSRAM#40At ams OSRAM, we are highly committed to sustainability External recognitions confirm our engagement within ESG (actual status per rating) Comment Institution CDP 强 ecovadis 7 SUSTAINALYTICS T L ISS Rating C Climate Change CDP DISCLOSURE INSIGHT ACTION B- Water Security ecovadis Silver within best 5% of sector SUSTAINALYTICS Score 21 low medium risk, improvement +30% Score C improvement from C- ISS▷ MSCI E MSCI BBB T improvement +18%, scored #13 within S&P Global CSA S&P Global Score 72 sector, Yearbook listed 40 40 amu OSRAM#41Financial results in detail Q2 2023 and H1 2023 14 41 amu OSRAM#42Group revenues slightly up sequentially (excluding deconsolidation effect in Q1) All figures in EURm / % of revenues Total revenues 42 42 - 1,183 140 -8% 927 79 851 1,043 848 1,778 Q2 2022 Q1 2023 Q2 2023 H1 2023 Deconsolidation effects due to disposals Revenues at midpoint of guidance range, challenging market environment continued in Q2 as expected Slight revenue growth sequentially on like-for-like basis (excl. deconsolidation effects) Year-on-year comparison reflects de-consolidation effects of around EUR 140m from several disposals, including former OSRAM Continental JV business AMLS, Digital System business and others amu OSRAM#43Automotive, Industrial, Medical represent -80% of revenues APAC most important sales region and semiconductors contribute ~70% of revenues Revenues by segment (Q2 2023) Revenues by end market (Q2 2023) Revenues by region (H1 2023) 29% O 71% Semiconductors Lamps & Systems 20% 51% 29% Automotive Industrial & Medical Consumer 22% 31% 47% Americas EMEA APAC - - - Lower sequential Lamps & Systems contribution, due to seasonal effects + meaningful deconsolidation (disposal) Automotive: Stabilization and first signs of improved inventory situation and more normalized order pattern Industrial & Medical: Mixed industrial development, inventory correction in certain areas / strong medical business Consumer: Muted demand environment continued with typical seasonality, sequential improvements in some areas 43 Note: Revenues by region are updated on a half-yearly basis amu OSRAM#44Group revenue development: I&M, Consumer up sequentially Like-for-like Q2 development QoQ & YoY (excl. disposal effects), figures in EURm 44 Q1 2023 Q2 2023 QoQ revenue development YoY revenue development -2% -7% ~79m I&M QoQ disposal effects ~30m ~110m AUT YOY disposal effects I&M YOY disposal effects 465 443 433 433 -23% -38% +4% 316 284 +18% 243 234 243 Q2 2022 Q2 2023 175 175 149 Automotive I&M Consumer Automotive: Stabilizing and positive trends in order patterns, seasonal effects in aftermarket business I&M: Strong medical, mixed industrial business depending on sub-market business trends Consumer: Positive development across business areas after challenging Q1 - Automotive I&M Consumer Automotive: Stable YoY development with normalizing supply chain in Q2 2023 and seasonality in aftermarket auto lamps I&M: Challenging environment in several industrial sub- markets Consumer: Muted demand across device classes and expected end-of-life of certain volume projects I&M denotes Industrial & Medical amu OSRAM#45Semiconductors: Positive sequential development across markets Semiconductors segment, like-for-like Q2 development QoQ & YoY (excl. disposal effects), figures in EURM Q1 2023 Q2 2023 445 QoQ revenue development YoY revenue development +6% -38% -7% -28% 238 +7% 284 225 +19% 255 260 238 187 175 175 147 187 Q2 2022 175 Q2 2023 - Automotive I&M Consumer Automotive: Stabilizing inventory situation and order pattern, positive trend towards end of quarter I&M: Strong medical business, mixed industrial business depending on sub-market trends Consumer: Strong sequential improvement in existing sockets - Automotive I&M Consumer Automotive: Global demand still muted in spite of stabilizing supply chain I&M: YoY decline reflects overall weak macro economics in many areas, such as industrial lighting Consumer: YoY reflects some big sockets approaching End-of- Life, before new designs will kick-in I&M denotes Industrial & Medical amu OSRAM#46Lamps & Systems: Seasonal effects in Q2, stable YoY development Lamps & Systems segment: Like-for-like Q2 development QoQ & YoY (excl. disposal effects), figures in EURm QoQ revenue development 46 Q1 2023 Q2 2023 YoY revenue development +7% -18% ~79m I&M QoQ disposal effects 239 195 182 195 -11% 63 56 -10% 62 56 ~30m ~110m AUT YOY disposal effects I&M YOY disposal effects Q2 2022 Q2 2023 Automotive I&M Automotive: Seasonality in automotive lamps business drives sequential development I&M: Reflects substantial disposals effects, remaining business focuses on specialized entertainment and industry lamps Automotive I&M Automotive: Strong YoY development, further expanding leading market position, also driven by strong "LED replacement lamps" portfolio I&M: Remaining business driven by certain industrial trends, such as softer demand for specialty lamps for semiconductor manufacturing equipment I&M denotes Industrial & Medical amu OSRAM#47Group profitability - adj. EBIT margin improved sequentially All figures in EURm/% of revenues Gross profit, gross margin (adj.)1) EBIT, EBIT margin (adj.)1) 32% 9% 29% 29% 28% 509 104 374 --13%* 272 237 Q2 2022 Q1 2023 Q2 2023 H1 2023 - Gross profit in-line with company expectations - Continued to be impacted by meaningful underutilization effects in manufacturing - 6% 6% 5% ·0%* 50 50 100 Q2 2022 Q1 2023 Q2 2023 H1 2023 Adj. EBIT margin at top end of guidance range - Reduced adj. operating expenses support improved profitability sequentially - Clear target to increase profitability amu OSRAM 47 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses#48Reconciliation from EBIT IFRS reported to EBIT adjusted figures Q2 2023, All figures in EURm ထု 48 40 13 1 2 -6. '11' -1,324 50 1,313 EBIT IFRS Result from Equity Investments Result from the sale of Asset restructuring businesses Transformation Share-based M&A-related costs compensation costs costs Goodwill impairment EBIT Adj. - ― EBIT Adj. best reflects underlying profitability of business and overall group development Historic M&A transactions (e.g. OSRAM) result in significant purchase price allocation expenses (non-cash, resulting in D&A), heavily impacting EBIT IFRS - One-time integration costs (part of M&A-related costs) as well as transformation costs for personnel restructuring programs affect short-term profitability and mask true business development - One-time impairment charges overshadow operating business development including profitability Book gain/losses of disposals + results from smaller historic equity investments are not part of operating business model amu OSRAM#49Operating expenses – adj. R&D and SG&A expenses reduced sequentially All figures in EURm/% of revenues R&D expenses (adj.)1) 49 49 - 12% 12% 12% 11% SG&A expenses (adj.)1) 12% 11% 11% 10% 140 127 122 127 115 116 105 95 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Strong decrease in adj. operating expenses on absolute basis over last quarters R&D development reflects ongoing stream-lining and efficiency programs, majority of R&D in Semiconductors segment - Clear SG&A base-line reduction from efficiency programs and synergies over last 12 months amu OSRAM 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses#50Semiconductors segment: revenues up and return to profitability All figures in EURm/% of revenues Total revenues 799 +10% 600 547 1,147 Q2 2022 Q1 2023 Q2 2023 H1 2023 EBIT, EBIT margin (adj.)1) 12% 2% 98 0% -3% 13 -2 -15 Q2 2022 Q1 2023 Q2 2023 H1 2023 - - Double-digit sequential increase driven by stabilization in some Consumer and certain Industrial areas Automotive business still impacted by inventory correction while showing signs of improved order patterns - - Mixed development in Industrial markets, strong Medical business Profitability still impacted by lower production volumes and underutilization, noticeable improvement sequentially 50 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses amu OSRAM#51Lamps & Systems: strong profitability in spite of seasonal revenues decline All figures in EURm / % of revenues Total revenues 631 -34% 384 380 79 140 251 301 244 Q2 2022 Q1 2023 Q2 2023 H1 2023 Deconsolidation effects due to disposals EBIT, EBIT margin (adj.)1) 17% 16% 15% 102 65 2% 37 6 Q2 2022 Q1 2023 Q2 2023 H1 2023 - Significant deconsolidation effects due to disposal of Digital Systems business Seasonal effects in L&S automotive business (~80% of remaining L&S business) Substantially and structurally improved profitability reflecting positive disposal-related and portfolio streamlining effects 51 amu OSRAM 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses#5252 52 Adj. net result / Adj. EPS – strong improvement sequentially to 0.12 CHF EPS All figures in EURm / EUR / CHF per share Net result (adj.)¹) - CO 6 EPS diluted (adj.)¹) -0.21 CHF 0.02 CHF 0.12 CHF 0.14 CHF 37 31 -54 Q2 2022 Q1 2023 Q2 2023 H1 2023 0.14 0.12 0.02 -0.21 Q2 2022 Q1 2023 Q2 2023 H1 2023 Financial result Q2 EUR -25m (Q1 EUR -50m), due to positive FX effects and adjustments to the yearly compensation payment to the OSRAM Licht AG minority shareholders (reduced amount of outstanding shares) Positive income tax result Q2 EUR 7m based on reduction of deferred tax liabilities Q2 IFRS reported net result EUR -1,342m, impacted by impairment charge / IFRS EPS diluted EUR -5.14/CHF -5.02 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses amu OSRAM#53Cash Flow - Strong Operating CF at EUR 232 million in Q2 All figures in EURm / Operating Cash Flow % of revenues 53 Operating / Free Cash Flow (FCF) 18% 8% Capital expenditures 27% 33% 22% 31% 32% 8% 565 394 232 162 302 263 100 3 97 -31 -139 -171 Q2 2022 Q1 2023 Q2 2023 H1 2023 Q2 2022 Q1 2023 Q2 2023 H1 2023 Free Cash Flow - - Operating Cash Flow Very strong operating cash flow generation, up year-on-year and sequentially (27% of revenues) Free cash flow (FCF) development as expected given substantial capital expenditures - Continued meaningful CAPEX driven by industry- first 8" LED front-end fab, in line with plans Focused investments in European manufacturing footprint (Austria and Germany) amu OSRAM#54More conservative approach on long-term view leads to non-cash impairment Assessment and impairment testing Periodic impairment testing in line with IFRS requirements and regulations Approach - New management re-assessed the business outlook of each business line of the Group Meaningfully more conservative view in light of current macro-economic environment Applied across all businesses and segments 54 Effect and outcome Updated internal outlook and external parameters lead to decreased fair value of certain goodwill assets, triggering impairment charge Non-cash, one-time impairment charge of EUR 1.3 billion related to goodwill - Related to "Semiconductors" segment No impact on liquidity amu OSRAM#55Cash and debt overview - leverage slightly up as expected All figures in EURM 55 Q4 2022 2,803 1,087 Q1 2023 1,717 2,800 Gross debt 861 Cash Q2 2023 1,940 2,875 Net debt 841 2,034 - - - Expected uptick in group leverage to 2.9x net debt/adjusted ¹) EBITDA driven by CAPEX and trailing EBITDA trend EUR ~930 million undrawn multi-year lines (incl. EUR 800m revolving facility) ~90% of outstanding debt on fixed rate basis Adj. EBITDA¹) LTM EUR 693m (based on adj. EBIT + D&A not related to adjustments) Considerations and detailed planning incl. potential instruments for refinancing 2025 maturities ongoing amu OSRAM 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses#56Short term outlook and FY 2024 comments Q3 2023 guidance Revenues*: EUR 840 - 940 million (adj.) EBIT margin: 5-8% *EUR 120m YOY deconsolidation effects vs. Q3 2022 Q4 2023 comments FY 2024 comments Semiconductors: High uncertainty in end-markets persisting - Especially Industrial and Consumer end-markets are challenged Automotive revenues should continue to stabilize with normalizing supply chain and new products ramping Lamps & Systems: Robust revenues expected due to seasonally strong Automotive aftermarket - Absolute Group revenues expected to decline compared to 2023 due to portfolio decisions Semiconductor core business expected to outgrow target markets - assuming end-markets stabilize Group targets slightly positive Free Cash Flow assuming end- markets stabilize. Significantly reduced CAPEX compared to 2023. Focus on improving profitability Expected and based on current information and exchange rates Adjusted figures exclude M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses amu OSRAM#57Sensitiya amu OSRAM#58Profit and loss statement IFRS reported figures, all figures in EURm Q2 2023 Q2 2022 H1 2023 HY 2022 Revenues Gross profit Gross margin (IFRS reported) Gross margin (adjusted¹)) Research and development 851 1,183 1,778 2,429 201 348 411 733 24% 29% 23% 30% 28% 32% 29% 32% -118 -151 -265 -313 Selling, general and administrative -108 -157 -250 -313 Other operating income 27 160 42 163 Other operating expenses -1,324 17 -1,341 -14 Results from investments in associates -2 -1 -10 -1 Result from operations (EBIT) -1,324 216 -1,413 256 EBIT margin (IFRS reported) -155% 18% -79% 11% EBIT margin (adjusted¹)) Net financing result Result before tax 6% 9% 6% 9% -25 -50 -57 -100 -1,349 166 -1,471 156 Income tax result Net result (IFRS reported) Net result (adjusted¹)) 7 -108 -5 -82 -1,342 58 -1,476 74 31 -54 37 48 58 1) Excluding M&A-related, transformation and share-based compensation costs as well as results from investments in associates and sale of businesses amu OSRAM#59Balance sheet All figures in EURm Assets Jun 30, 2023 Dec 31, 2022 Jun 30, Dec 31, Liabilities and equity 2023 2022 Cash and cash equivalents 841 1,087 Current interest-bearing loans 275 169 Current financial investments 19 21 Trade payables 686 811 Trade receivables 435 533 Income tax payables 89 87 Inventories 804 864 Current provisions 199 256 Other current receivables and assets 209 223 Other current liabilities 1,384 1,345 Assets held for sale 77 157 Liabilities held for sale 23 50 Total current assets 2,385 2,884 Total current liabilities 2,656 2,717 Property, plant and equipment 2,008 1,856 Non-current interest-bearing loans 2,600 2,635 Intangible assets 2,272 3,645 Employee benefits 168 179 Right-of-use assets 216 230 Deferred tax liabilities 72 105 Investments in associates 24 35 Non-current provisions 44 45 Deferred tax assets 68 69 Other non-current liabilities 262 318 Other non-current assets 50 54 Non-current financial assets 36 59 Total non-current assets 4,674 5,948 Total non-current liabilities 3,146 3,281 Shareholders' equity ams-OSRAM AG 1,251 2,826 Non-controlling interests 6 7 Total assets 7,059 8,832 Total liabilities and equity 7,059 8,832 59 amu OSRAM#60Cash flow Selected cash flow items, all figures in EURM 60 Q2 2023 Q2 2022 H1 2023 H1 2022 Net result -1,342 58 -1,476 74 Amortization, depreciation and impairment 1,446 141 1,618 298 Cash flows from operating activities 232 100 394 247 Capital expenditures -263 -97 -565 -210 Acquisitions of subsidiaries, net of cash acquired -64 -7 -95 -7 Proceeds from sale of businesses, net of cash disposed 78 251 89 251 Cash flows from investing activities -245 148 -551 39 Proceeds from loans 151 0 151 0 Repayment of loans -83 -5 -85 -67 Repayment of lease liabilities -14 -39 -29 -56 Interest paid -30 -16 -76 -62 Dividends paid to shareholders of OSRAM Licht AG -37 -53 -37 -53 Cash flows from financing activities -13 -112 -76 -239 Net change in cash and cash equivalents (incl. FX effects) -30 200 -255 111 Cash and cash equivalents at end of the period 841 1,413 841 1,413 amu OSRAM