Monetizing Innovation and Financial Reconciliation

Operating 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

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