Elmos Semiconductor Se · XETR:ELG
Elmos Semiconductor — Investor Day (February 2026)
106 slides from Elmos Semiconductor's investor day presentation, Feb 24, 2026
Slide 1: Welcome to the Elmos Capital Markets Day 2026
Welcome to the Elmos Capital Markets Day 2026
Slide 2: Welcome & Agenda
February 24, 2026 Elmos CMD 2026 Welcome & Agenda Ralf Hoppe, CIR
Slide 3: Agenda
Agenda Speaker Topic Ralf Hoppe (CIR) Welcome & Agenda Dr. Arne Schneider (CEO) The Big Picture Dr. Jan Dienstuhl (CSO) Market Opportunities & Right-to-Win Dr. Burkhard von Spreckelsen (CDO) China Strategy & Execution Break Jochen Vaihinger (CTO) Technology & Innovation Dr. Patrick Schmitt (COO) Sup
Slide 4: Disclaimer
Disclaimer This presentation contains forward-looking statements based on beliefs of Elmos‘ management. Such statements reflect the company‘s current views with respect to future events and are subject to risks and uncertainties. Many factors could cause the actual results to be materially different
Slide 5: The Big Picture
February 24, 2026 The Big Picture Dr. Arne Schneider, CEO
Slide 6: This is Elmos – Enabling Intelligent Mobility Around the Globe
This is Elmos – Enabling Intelligent Mobility Around the Globe 10 Elmos ICs on average in every new car globally Note: Selected customer examples 6
Slide 7: From Visionary Start-up to Worldwide High Tech Leader
From Visionary Start-up to Worldwide High Tech Leader 1984 | Visionary Start-Up Today | Global High-Tech Leader No. 1 Most innovative German company in electrical engineering in 20251 TecDAX Member One of Germany’s largest stock listed high-tech companies Global No. 1 or 2 in our key application seg
Slide 8: Elmos Outperforms Peers – Yet Offers 20-40% Upside
Elmos Outperforms Peers – Yet Offers 20-40% Upside Performance FY 2021 – 2025 Valuation FY 2026 (as of February 17, 2026) Valuation Upside Sales Growth EBIT-Margin FCF-Margin EPS Growth CAGR Improvement Improvement CAGR EV/Sales 3.3x 3.7x >10% 16.0% 3.2pp. 7.9pp. 27.2% 20.2x 14.1x EV/EBIT >40% 2.4%
Slide 9: Elmos Delivered x9 Higher Returns than Peers since 2021
Elmos Delivered x9 Higher Returns than Peers since 2021 Share Price Development (1st Jan 2021 – 2026 YTD)1 Net Return from 1,000 EUR Investment in Jan. 20214 +353% 3,838 x2 +191% 2,082 x9 +36% 433 x28 +6% 146 PHLX2 Peers3 TecDAX 2021 2022 2023 2024 2025 2026 Elmos PHLX Peer Average3 TecDAX 1. As of
Slide 10: Looking Ahead – Elmos is Positioned at the Centre of Growth
Looking Ahead – Elmos is Positioned at the Centre of Growth Automotive Semiconductor Market Growth Drivers Growth Target 2030 in billion USD 2025 2030 Conservative Growth Target: CAGR Market-Aligned, with Upside +13% Share of 135 BEV & Hybrids ~42% ~68% Produced ~12% Share of Assisted and ~46% ~65%
Slide 11: We are Delivering on our Commitments – Recap to CMD 2024
We are Delivering on our Commitments – Recap to CMD 2024 Top Priorities & Midterm Financial Targets 2030 – as presented in November 2024 As communicated Priorities Midterm Financial Targets 2030 in November 2024 Innovation & 1 around 1 billion Design Wins Sales in 2030 2 Profitable Growth EBIT aroun
Slide 12: Innovation Power Driving Design Wins & Market Leadership
1 | Innovation & Design Wins Innovation Power Driving Design Wins & Market Leadership x2 increase in patent filings per year over the last decade >1.2 million EUR revenue per engineer >1,200 design wins since 2021 with a life-time value of >3.3 billion EUR 12
Slide 13: Profitable Growth Secured by Design Wins & Megatrends
2 | Profitable Growth Profitable Growth Secured by Design Wins & Megatrends Up to 200 Elmos ICs per modern BEV as megatrends structurally increase Elmos content per vehicle 1 billion EUR 2030 sales target largely secured by existing design wins >15% revenue CAGR over past 5 years (versus ~2% CAGR of
Slide 14: China Strategy with More Opportunities than Risks
3 | China Strategy China Strategy with More Opportunities than Risks >30% annual revenue growth achieved by Elmos between 2021 – 2025 ~100 years semiconductor experience amongst local Elmos Chinese Senior Management Team >7x premium valuation of Chinese Analog Mixed Signal Peers compared to Elmos 14
Slide 15: R&D Efficiency Setting Industry Benchmarks
4 | R&D Efficiency R&D Efficiency Setting Industry Benchmarks ~15-30% efficiency improvements of R&D runtimes in 2025 R&D represents >40% of total workforce ~1 patent per 3 engineers filed per year, outperforming the industry by multiples 15
Slide 16: Gaining Scale while Permanently Lowering Capital Intensity
5 | Operational Excellence Gaining Scale while Permanently Lowering Capital Intensity ~70% lower CAPEX ratio compared to 5 years ago, reflecting successful evolution of operating model >10 partnerships with leading foundries and OSATs in 6 countries >3x capacity increase per testing machine after OE
Slide 17: Accelerated Cash Generation Translating into Higher Returns
6 | Cash Generation Accelerated Cash Generation Translating into Higher Returns >17% FCF ratio expected in FY 2026 x2 total payout for FY 2025 vs. FY 2024 x9 net shareholder return vs. average peer group since January 2021 17
Slide 18: Updated 2030 Targets
Updated 2030 Targets EBIT CAPEX Free Cash Sales Margin Ratio1 Flow Margin 1 billion EUR ~25% ~6% ~17% CMD 2024: 1 billion EUR CMD 2024: ~25% CMD 2024: <10% CMD 2024: Gradual improvement Confirmed Confirmed Upgraded Upgraded Updated Capital Allocation Principles: Increasing dividends plus buy-backs,
Slide 19: Strong Leadership Team Delivering Today & Ready for Tomorrow
Strong Leadership Team Delivering Today & Ready for Tomorrow Dr. Arne Schneider Dr. Jan Dienstuhl Margarita Mamberger Chief Executive Officer (CEO) Chief Sales Officer (CSO) Chief Financial Officer (CFO) ▪ 15 years with Elmos ▪ 14 years with Elmos ▪ 11 years with Elmos ▪ Previously Junior Partner at
Slide 20: Market Opportunities & Where We Play
February 24, 2026 Market Opportunities & Where We Play Dr. Jan Dienstuhl, CSO
Slide 21: Automotive Semiconductors on a Structural Growth Path
Automotive Semiconductors on a Structural Growth Path Automotive Semiconductor Market Principal Growth Drivers Key Takeaways (in billion USD) Global light vehicle production (in million units) CAGR ▪ Automotive semiconductor market growth is +13% CAGR structural rather than cyclical 135 +1% 90 97 ▪
Slide 22: Five Megatrends are Driving Semiconductor Content per Vehicle
Five Megatrends are Driving Semiconductor Content per Vehicle ADAS / Autonomous Electrification & Comfort & SDV & New Safety Driving Efficiency Premium Architectures ADAS drives Electrification Share of premium cars Regulation and Software Defined substantial growth in multiplies control, as well as
Slide 23: ADAS Adoption Increases Sensor & Control Content in Vehicles
ADAS Adoption Increases Sensor & Control Content in Vehicles SAE Autonomous Level – L0+1 vs. L2 or higher ADAS & Autonomous Driving (in % of global car production) ▪ ADAS-driven semiconductor content growth is 19.5% 46.0% already embedded in today’s vehicle production 64.9% L2 or higher 80.5% ▪ Curr
Slide 24: Electrification Multiplies Control, Power and Thermal IC-Content
Electrification Multiplies Control, Power and Thermal IC-Content Global Production of BEV & Hybrids Electrification & Efficiency (in million units) % of global ▪ Rising efficiency requirements multiply the 13% 42% 68% car production number of regulated and actively controlled functions in the vehicl
Slide 25: Share of Premium Cars and Feature Density are Increasing
Share of Premium Cars and Feature Density are Increasing Production of Premium Cars IC Content of Premium Cars Comfort & Premium (in million units | % of global production) (in billion units) 7.2% 9.8% 11.4% CAGR ▪ Share of premium cars (in % of total car +13% production) is increasing 29.5 CAGR +8%
Slide 26: Examples | How Premium Features Drive IC Content in Vehicles
Examples | How Premium Features Drive IC Content in Vehicles How Features from the Past… … Look Like Today… … and Drive IC Content in Vehicles Basic Interior Lighting Exterior Multi-Zone Lighting Ambient Control & Light Sky Systems 5-10x Single driver to dozens of RGB Single-zone dome and reading li
Slide 27: Software Defined Vehicles Increase Intelligence at the Edge
Software Defined Vehicles Increase Intelligence at the Edge New Architectures & Software Defined Vehicles SDV & New Architectures E/E Platforms (in % of total car production) 2020 2025 2030e Zonal Domain Zonal Zonal ▪ Service based centralized/zonal architectures 0.6% 5.3% increase computational int
Slide 28: Megatrends Converge to Define the Standard Modern Car
Megatrends Converge to Define the Standard Modern Car Today‘s Drivetrain Independent / PHEV Tomorrow‘s What the Modern Car Looks Like Premium ICE Vehicle Premium BEV ▪ Autonomous and safe: Intelligent assistance systems enhancing safety and driving confidence Combustion Engine Sensors Wiper Control
Slide 29: Market Growth: Elmos Profits from All Key Growth Drivers
Market Growth: Elmos Profits from All Key Growth Drivers Recap: Automotive Semi Market Growth Drivers Growth Target 2030 2025 2030 CAGR Conservative Growth Target: Share of +13% BEV & hybrids ~42% ~68% Market-Aligned, with Upside produced ~12% Share of assisted and ~46% ~65% automated driving Share
Slide 30: 1 Billion EUR Targeted with a Balanced Multi-Segment Portfolio
1 Billion EUR Targeted with a Balanced Multi-Segment Portfolio Elmos Sales by Segment 2025 2030e (in % of total sales, figures are rounded) SDV & Safety 14% Ranging SDV & Safety 25% 10% Sensing Ranging 14% 34% 583 Sensing 18% ~1,000 million million EUR 20% EUR Lighting 22% 20% Motor Control Motor Co
Slide 31: Key Takeaways | Market Opportunity & Where-we-Play
Key Takeaways | Market Opportunity & Where-we-Play Automotive semiconductor growth is structural, not cyclical IC content per car – not car volumes – is the dominant long-term growth driver Multiple megatrends reinforce each other and drive IC content per car Electrification, safety, ADAS, comfort &
Slide 32: Growth Strategy & Right-to-Win
February 24, 2026 Growth Strategy & Right-to-Win Dr. Jan Dienstuhl, CSO
Slide 33: Elmos' Right-to-Win Is Built on a Set of Key Differentiators
Elmos’ Right-to-Win Is Built on a Set of Key Differentiators Relative to direct competitors What the Market Demands Elmos Right-to-Win Lower Higher Strong system-level Proprietary application-specific system expertise understanding Global market leader w/ unmatched domain depth in high-value applica
Slide 34: Elmos Leads Markets with Deep Know-how and Disciplined Focus
Elmos Leads Markets with Deep Know-how and Disciplined Focus #1 #1 #1 #1 #2 ICs for Motor Control ICs ICs for Pressure Sensing ICs for Ultrasonic Parking & for Smart HVAC LED Rear ICs for RGB Interior 360° Ranging Actuators Lighting Brake Systems Lighting Elmos holds global #1 or #2 positions in its
Slide 35: Elmos Delivers Trusted Collaboration across All Partners
Elmos Delivers Trusted Collaboration across All Partners Matthias Beck Elmos ICs Delivered to All Major Tier-1 Companies Head of Development Lighting Electronics “Elmos is an exceptionally flexible and reliable IC development partner. The cooperation is highly professional, and their responsiveness
Slide 36: Elmos Drives Industry-Leading, Award-Winning Innovation
Elmos Drives Industry-Leading, Award-Winning Innovation Thomas Foj Vice President Supplier Management, Solutions and Digitalization #1 German SME 2025 in Electrical Engineering1 “Elmos is for us a trustful partner, known for innovation, product focus Recognized as most innovative German SME in and m
Slide 37: Elmos Delivers Excellence in Quality, Reliability & Supply Security
Elmos Delivers Excellence in Quality, Reliability & Supply Security Consistently low field-return rates (PPB) provide transparent, decision-relevant quality performance across the automotive portfolio Quality Reliability Secure and adaptable edge solutions for ICE & BEV cars deliver long-term system
Slide 38: Elmos Combines Global Reach with Local Proximity
Elmos Combines Global Reach with Local Proximity Tianjin Seoul Tokyo Nijmegen Berlin Dortmund Frankfurt Changzhou Shanghai Detroit Dusseldorf Oder Chongqing Brno Pune Leverkusen Dresden Shenzhen Taiwan Elmos Sales & Application Engineering Elmos R&D Sites Singapore Local presence, global reach – ena
Slide 39: Building Growth on Our Strengths – 1 Billion EUR Sales by 2030
Building Growth on Our Strengths – 1 Billion EUR Sales by 2030 Worldwide 1 1 billion EUR target is Regional billion based on executing our Quality, Setup Reliability, automotive business pipeline Supply EUR (i.e., our design wins) Focused Analog Continuity & Mixed-Signal Deep Dive 1 Dedicated Innova
Slide 40: Design Wins are the Foundation of Our Growth Ambition
Deep Dive 1 | Automotive business pipeline Design Wins are the Foundation of Our Growth Ambition Deep Dive on next slides Deep Dive on next slides >1,200 Design Wins >3.3 Billion EUR 7 “Big Wins” Fully Aligned with from 2021 - 2025 Lifetime Revenue (LTR) >100 Million EUR LTR Structural Growth Broad
Slide 41: Ø Design Win LTRs More Than Doubled Since 2020/2021
Deep Dive 1 | Automotive business pipeline Ø Design Win LTRs More Than Doubled Since 2020/2021 Ø Design Win Lifetime Revenues FY 2020 – 2025 Design Win Lifetime Revenues (in million EUR) (in million EUR) CAGR: ~19% 1,000 900 >2x 800 ~725 700 600 500 400 ~350 0 2020-2021 2022-2025 2020 2021 2022 2023
Slide 42: Majority of Top-Line Growth to 2030 is Already Awarded
Deep Dive 1 | Automotive business pipeline Majority of Top-Line Growth to 2030 is Already Awarded > 1 billion EUR ~15% New business to be won by Design Wins 2027 and later ~10% Remaining Design Win Target 2026 (already >20% achieved YTD) ~25% Business revenue from Design Wins since 2021 Won follow-u
Slide 43: Examples | Recent Design Win Highlights
Deep Dive 1 | Automotive business pipeline Examples | Recent Design Win Highlights Example 1 | High-End Front Lighting Win Example 2 | Air Vent Motor Control Win ▪ Next-gen grille lighting in a top-selling ▪ Next-gen air vent control in premium premium SUV of a leading German OEM platforms of leadin
Slide 44: Elmos is Well Positioned in India – the World's Next Growth Hub
Deep Dive 1 | Automotive business pipeline Elmos is Well Positioned in India – the World’s Next Growth Hub Vehicles per 1,000 inhabitants / Population India Automotive Semi Market in India (in billion USD) CAGR | 0.4% ▪ Strong growth of Elmos India with sales CAGR CAGR of ~40% since 2020 +15% ~470 ~
Slide 45: Cars and Robots Share Key Commonalities
Deep Dive 2 | Adjacent markets Cars and Robots Share Key Commonalities 48V low-voltage 40–60V board net Power Architecture battery power Central HPC Central compute with zonal ECUs System Architecture with body zones Automotive Ethernet-based Ethernet backbone Communication internal network Edge con
Slide 46: Elmos ICs Enable the Nervous System of (Humanoid) Robots
Deep Dive 2 | Adjacent markets Elmos ICs Enable the Nervous System of (Humanoid) Robots Edge Control & Communication Motion & Actuation ▪ Central compute with Ethernet backbone ▪ High no. of BLDC motor drivers across joints ▪ Distributed edge gateways (head, hands, legs) ▪ Position and force sensing
Slide 47: Robotics Market Expands Elmos' Long-Term Growth Potential
Deep Dive 2 | Adjacent markets Robotics Market Expands Elmos’ Long-Term Growth Potential Global Humanoid Robot Shipment Estimates Average Estimates Evolution Comments (in million units) (in million units) ▪ Demand volumes still relatively low, but market & business is expected to grow significantly
Slide 48: Key Takeaways | Growth Strategy & Right-to-Win
Key Takeaways | Growth Strategy & Right-to-Win Global market leadership driven by proprietary application-specific expertise Deep domain know-how secures #1/#2 positions in core automotive IC markets Industry-leading innovation accelerates next-generation platforms Decades-long innovation leadership
Slide 49: China Strategy & Execution
February 24, 2026 China Strategy & Execution Dr. Burkhard von Spreckelsen, CDO
Slide 50: China: Where Scale, Growth, Innovation and Cost Converge
China: Where Scale, Growth, Innovation and Cost Converge #1 Automotive Long-term Growth Innovation-driver Comparatively Market Globally Potential Worldwide Low Cost Basis ▪ Largest vehicle manufacturer ▪ Large underserved home market ▪ Chinese OEMs lead in ADAS, SDV ▪ Economies of scale enable globa
Slide 51: Elmos China Strategy: Strongly Validated by Today's Market Reality
Elmos China Strategy: Strongly Validated by Today’s Market Reality Recap | Elmos China Strategy as introduced on CMD in November 2024 Confirming 2024-Expectations from Today’s Perspective 1 Geopolitical Dynamics Rising trade tensions and localization requirements reinforce the need for a 1 3 local-f
Slide 52: We are Executing with Full Speed on Our China Strategy
We are Executing with Full Speed on Our China Strategy Key Highlights since Our Last Capital Markets Day in 2024 Moving into our new Start of local IC development in Multi million JiWeiCheng ICs Shanghai Pudong office and our China Product Center (CPC) shipped to customers co-locating all functions
Slide 53: Elmos China: We See More Opportunities than Risks
Elmos China: We See More Opportunities than Risks 6 offices Scaling toward Senior local leaders strategically 100+ employees with proven located across with deep local track record in Scalable China expertise semiconductors Footprint Dual-Brand “All-Weather Setup”: Top OEMs Strong relationships Stra
Slide 54: Nationwide Presence in China's Key Automotive Clusters
Nationwide Presence in China’s Key Automotive Clusters Our 6 local offices are strategically located Top 5 automotive clusters in China ▪ Headquarters in Shanghai with all key functions and the Elmos office China Product Center (CPC) ▪ 5 regional offices in addition to our headquarters in Shanghai i
Slide 55: Seasoned Chinese Managers Leading a Growing Local Team
Seasoned Chinese Managers Leading a Growing Local Team Seasoned Senior Leadership in Place Scaling Towards ~100 Employees ▪ 8 Chinese senior leaders steering our China ~100 business with responsibility for all functions (GM, Sales, Operations, CPC, Quality, Finance, HR, IT) ▪ ~100 years of semicondu
Slide 56: Trusted by China's Leading OEMs (Local & JVs) in all Segments
Trusted by China’s Leading OEMs (Local & JVs) in all Segments Trusted Partner for Our Customers in OEMs in China China ▪ We are a trusted partner to China’s leading OEMs and Tier-1s/Tier-2s ▪ Long term customer relationships built on proven performance, reliability, and trusted partnerships Tier-1s/
Slide 57: Local-for-Local Approach Strengthens Resilience and Flexibility
Local-for-Local Approach Strengthens Resilience and Flexibility From HQ-driven functions... ...to fully localized setup Elmos Global R&D Team, mostly based in Europe R&D China Product Center Local Supply Chain Management, Supply Chain Management from Dortmund, Germany Operations / Supply Chain incre
Slide 58: "All-Weather Setup" Creates Strategic Optionality
“All-Weather Setup” Creates Strategic Optionality Chinese Players are Valued at a Premium Examples of Western Firms Reshaping their China Operating Model Average 2026 EV/Sales Ratio Brought in Shenzhen Original as a minority partner ~7x ~23x through a stake sale in ASM Advanced Materials Shifted con
Slide 59: China Analog & Mixed Signal & RF Listed Companies
China Analog & Mixed Signal & RF Listed Companies In million EUR, unless otherwise stated Revenue EV / Revenue EV / EBITDA P/E Name Market Cap (€Bn) EV (€Bn) 2025E 2025E 2026E 2025E 2026E 2025E 2026E Elmos 2.1 2.1 580 3.7x 3.3x 13.3x 10.8x 22.9x 19.4x Centec 8.9 8.7 170 51.4x 41.2x NA NA NM NM Guobo
Slide 60: Key Takeaways | China Strategy
Key Takeaways | China Strategy China’s Automotive Market Demonstrates Structural Growth EV and tech adoption drive sustained growth in China’s automotive semi-market Seasoned Local Senior Leadership Team Enables Execution Leaders with deep expertise in China’s semiconductor ecosystem Strong Customer
Slide 61: Technology & Innovation
February 24, 2026 Technology & Innovation Jochen Vaihinger, CTO
Slide 62: R&D and Technology Power Sustained, Profitable Growth
R&D and Technology Power Sustained, Profitable Growth Scalable R&D Platform Delivering Customer Value, Execution Excellence and Differentiation High Product Value Strong Product Proven Innovation to Customers Roadmap Track Record Value Creation & Growth R&D Efficiency State-of-the-Art Global (up to
Slide 63: SDV Architecture Expands Elmos' Content and Value-Add
SDV Architecture Expands Elmos’ Content and Value-Add Share of Zonal E/E Architectures in New Cars Distributed ECU Domain Zonal Smarter Edge, Bigger Opportunity (as % of global car production) x global car production (in million units) ▪ The shift to central compute, zonal E/E and 48V is 74.9 92.9 9
Slide 64: R&D Pipeline to Dominate Existing Fields & New SDV Applications
Non-exhaustive | Selected examples R&D Pipeline to Dominate Existing Fields & New SDV Applications 2026 2027 2028 Key Takeaway USPA | Complex Device Driver Sensing for AUTOSAR Platform USPA | NextGen1 Sensor & USPA | NextGen2 Family Sensor & Ultrasonic: Continuous expansion of our sensor & USPA| Env
Slide 65: End-to-End Innovation across System, Architecture and IC Design
End-to-End Innovation across System, Architecture and IC Design Example 1 Example 2 Ultrasonic System Innovation Reinforces Quantum Randomness Establishes a Elmos’ ADAS Leadership Hardware Root of Trust for SDVs Example 3 Example 4 Smart eFuse Controllers Enable Zonal Next-Generation Sensor Architec
Slide 66: Ultrasonic System Innovation Reinforces Elmos' ADAS Leadership
Example 1 Ultrasonic System Innovation Reinforces Elmos’ ADAS Leadership Elmos as Partner at NVIDIA GTC Keynote Paris 2025 #1 in ultrasonic ICs with >2 billion devices deployed, spanning ultra-low-cost to ADAS-grade high-end solutions Advanced interfaces, high interference robustness and scalable ar
Slide 67: Quantum Randomness Enables a Hardware Root of Trust
Example 2 Quantum Randomness Enables a Hardware Root of Trust Lab Results Hardware-based true randomness for security-critical automo- tive systems robust against quantum computer-based attacks ▪ Samples show equal distribution of 1s and 0s ▪ Results conform to NIST SP 800-90A On-chip quantum entrop
Slide 68: Smart eFuse Controllers Enable Zonal Architectures and SDVs
Example 3 Smart eFuse Controllers Enable Zonal Architectures and SDVs Key enabler for next-gen E/E: intelligent eFuse controllers Bring up of Newest Smart Electronic Fuse Controller replace mechanical fuses in zonal and software-defined architectures (+20 ICs per vehicle) Faster, more precise fault
Slide 69: Next-Gen Ultrasonic Architecture Redefines Cost-Performance
Example 4 Next-Gen Ultrasonic Architecture Redefines Cost-Performance Higher performance at lower cost via a new master-sensor architecture with analog/digital partitioning Highest effective resolution enabled by proprietary low-loss data compression for advanced signal processing Lower cost and com
Slide 70: BCD Technology Breadth Reinforces Elmos' Fabless Advantage
BCD Technology Breadth Reinforces Elmos’ Fabless Advantage Leading foundry partnerships secure best-in-class BCD technologies at a competitive cost Actively managed node portfolio aligned to product requirements, performance and economics 12-inch manufacturing enablement across wafer testing and ass
Slide 71: Global R&D Network Enables Innovation without Borders
Global R&D Network Enables Innovation without Borders Global R&D Excellence Three Major Activities in 2025 to Strengthen our Elmos R&D Network ▪ Highly skilled experts in all areas to develop innovative, Opening a new R&D Ramp up of our new Acquisition of 100% competitive, and safe & site in Brno, C
Slide 72: Continuous Significant Progress in R&D Efficiency
Continuous Significant Progress in R&D Efficiency R&D Efficiency over the Past 12 Months Speed of Defining New Products Ø Runtime: Idea – Product Speed of R&D Execution Ø Runtime: Project Start - Sampling -31% -25% Jan-25 Jan-26 Jan-25 Jan-26 R&D Planning Accuracy Ø Cycle Time Ratio: Project Start –
Slide 73: Partners Scale the Value Chain for Faster, Cost-Efficient Innovation
Partners Scale the Value Chain for Faster, Cost-Efficient Innovation We Partner with Industry Leaders throughout the Entire Value Chain Hardware Product Design Electronic Design Automation (EDA) Software Product Design Silicon Foundry Operations (SiFo) Elmos accelerates innovation by partnering with
Slide 74: Elmos' IP Filing Power & Strategy Fuels Long-Term Value Creation
Elmos’ IP Filing Power & Strategy Fuels Long-Term Value Creation Number of Patent Filings per Year (in Absolute # of Filings) Share of Patents per Application in 2025 (in %) System/Application Integrated Circuits Technology +90% 180 9% 5% 22% 95 57% 73% 34% 2015 2025 2015 2025 ▪ Number of filings al
Slide 75: AI is Integral to How We Develop and What We Deliver
AI is Integral to How We Develop and What We Deliver Governed AI Knowledge Access Controlled, traceable, auditable results Engineering Productivity via Copilots Faster cycles without quality compromise AI Automates Design Workflows Accelerate EDA, verification, and optimization AI Elevates Ultrasoni
Slide 76: Key Takeaways | Technology and R&D
Key Takeaways | Technology and R&D Global R&D Network Enables Innovation without Borders Elmos R&D is moving from regional expertise to global excellence Systems Expertise Enables Fast, High-Quality Innovation and Adds Customer Value Integrated hardware, software & algorithms enable shift to system-
Slide 77: Supply Chain Strategy & Operational Excellence
February 24, 2026 Supply Chain Strategy & Operational Excellence Dr. Patrick Schmitt, COO
Slide 78: Fabless Strategy – Year-1 Roadmap Update
Fabless Strategy – Year-1 Roadmap Update ▪ Wafer Fab transaction closed in December 2024 for net purchase price of approximately 93 million EUR Sale ▪ Testing and other facilities retained Completed ▪ Redirected focus on managing the global supply chain ▪ Onboarded and ramped a new OSAT for final te
Slide 79: Fabless Strategy Benefits are Already Starting to Materialize
Fabless Strategy Benefits are Already Starting to Materialize Fabless, Scalable Structurally Lower Value Focus on Core Optimized Capacity CAPEX Profile Competencies Working Capital ~15% ~70% ~25% ~50% Volume increase p.a. until Lower CAPEX ratio reflecting Test time reduction driven by Efficiency ga
Slide 80: Strong Demand Expected to Drive a Material Increase in Volume
Strong Demand Expected to Drive a Material Increase in Volume Revenue Growth Requires Step-Change in Volumes Key Requirements to Deliver Growth Volumes (actual) Volumes (expected) Scalability and Cost CAGR1 ▪ Fabless capacity model ~15% ▪ Standardization and reuse ▪ Backend-driven scalability ▪ Oper
Slide 81: Fabless Model Delivers Capital-Light, Scalable Capacity
Fabless Model Delivers Capital-Light, Scalable Capacity Partnerships with Leading Semiconductor Ecosystem Players Chip Design, Innovation and Customer Focus Wafer Processing Wafer Test Assembly Final Test (Backend) Tape and Reel (1) In advanced discussions with additional external partners Fabless s
Slide 82: Diversified Mix of Partners Enhances Supply Resilience
Diversified Mix of Partners Enhances Supply Resilience #4 #2 Global OSAT Global Foundry #4 Global Foundry Capacity extension for packaging #2 #1 Chinese Foundry #1 Wafer Probing >30 yrs #1 Established long-term relationship Global Foundry >15 yrs Deep, established relationship #7 #1 Global OSAT Glob
Slide 83: Outsourced Value-Add Share Set to Expand as We Grow
Outsourced Value-Add Share Set to Expand as We Grow Asia Dortmund Germany Target Setup ▪ Building full operational Operations Today capabilities in Asia ▪ Expanding regional Tape & Reel ▪ Established Singapore as the regional operations hub capacity ▪ Built a local China Operations function − Scalab
Slide 84: Execution Excellence with Capital Discipline
Execution Excellence with Capital Discipline Continuous Improvement with Capital Efficiency Test capacity expanded Capacity expansion largely Efficiency gains delivering ahead of demand to enable upgrade-led, with limited ~25% test time reduction future growth new tester purchases and stronger OEE p
Slide 85: Test Capacity Expansion Strategy: Internal Efficiency & OSAT Scale
Test Capacity Expansion Strategy: Internal Efficiency & OSAT Scale 2024 2026e 2030e 40% 20% 50% Wafer Test 60% 80% 50% 30% 25% 15% Final Part Test 70% 75% 85% OSAT (external) Dortmund (internal) We are structurally reshaping our test footprint to secure scalability, flexibility and cost leadership 8
Slide 86: We Continue to Drive Structural Inventory Normalization
We Continue to Drive Structural Inventory Normalization Optimized Inventory Management Remarks -10 pp. ▪ Demand levels used deliberately in 2025 to (23%) accelerate inventory normalization 42% 36% 35% ▪ OSAT cycles and throughput have been 32% optimized, supported by OEE improvements ▪ Tighter SIOP
Slide 87: Test Productivity Gains Enable Significant Capacity Expansion
Test Productivity Gains Enable Significant Capacity Expansion Typical Throughput Test Systems (in million units, figures approximated) Remarks ▪ Test time reduction through program x2 optimization and standardization 23.0 ▪ Sustainable OEE improvements across internal and external test footprint x3
Slide 88: Quality Continues to be a Core Pillar of the Elmos Identity
Quality Continues to be a Core Pillar of the Elmos Identity Quality delivers the zero-defect performance automotive demands, building long-term customer trust and repeat “The proactive and regular quality exchange with design wins Elmos gives us confidence and decision security when awarding new bus
Slide 89: Key Takeaways | Operations
Key Takeaways | Operations Fabless transformation structurally completed and operationalized Scalable and flexible capacity enabling sustainable volume growth Global partner network strengthens resilience and sharpens core focus Collaboration w/ leading foundries & OSATs - some built on decades-long
Slide 90: Financial Performance & Targets
February 24, 2026 Financial Performance & Targets Margarita Mamberger, CFO
Slide 91: Profitable Growth Through Every Phase of the Cycle
Profitable Growth Through Every Phase of the Cycle Global Chip Shortage Inventory Destocking CAGR 2021-25 2021 2022 2023 2024 2025 575 581 583 EURm 447 +16% Sales 322 18.6% 24.6% 26.2% 25.1% 21.8% EURm 151 146 127 +21% EBIT 60 110 18.6% 16.3% 20.0% 7.6% 5.8% EURm 115 -11% CAPEX1 60 73 44 34 3.5% 3.3
Slide 92: Consistently Outperforming our Peer Group
Consistently Outperforming our Peer Group Elmos Selected Peer Group (Average)1 Sales Growth EBIT Free Cash Flow2 (in annualized growth rate) (in average % of sales) (in average % of sales) 33.6% 27.5% 23.2% 23.4% 20.6% 16.1% 12.9% 11.4% 6.1% 3.0% 0.3% -9.0% 2021-2023 2024-2025 2021-2023 2024-2025 20
Slide 93: Delivering Superior Shareholder Return
Delivering Superior Shareholder Return Share Price Development Total Shareholder Return2 (Jan. 2021 – 2026 Year-to-Date)1 (Jan. 2021 – 2026 Year-to-Date)1 +353% 384% +191% 208% +35% +6% 43% 15% 2021 2022 2023 2024 2025 2026 PHLX Peer TecDAX Semiconductor Sector Average3 Elmos PHLX Peer Average3 TecD
Slide 94: 2030 Financial Targets Reinforce Value Creation Path
2030 Financial Targets Reinforce Value Creation Path FY 2025a Results FY 2026e Guidance1 2030 Target Target Drivers ▪ Design-win pipeline and structural Sales 583 million EUR 11% YoY Growth ~1 billion EUR higher IC content Financial Targets ▪ Operating leverage from scale EBIT Margin 21.8% 24% ~25%
Slide 95: Operating Leverage and Cost Reduction Unlocks Margin Upside
Operating Leverage and Cost Reduction Unlocks Margin Upside EBIT Main Margin Drivers Main Initiatives for Margin Improvement (in % of sales, midpoint) 1) Revenue growth and richer product mix ~25% translates into margin expansion upside 24% 1 2) Operating leverage due to higher volumes drives fixed-
Slide 96: Structural Reduction of the Effective Tax Rate
Structural Reduction of the Effective Tax Rate Effective Income Tax Rate Main Initiatives for Tax Reduction -12pp. (in %) 33% 1) New operating model and strategic rebalancing of 25% global earnings composition to unlock structural ~21% tax benefits 2) Approx. 7 percentage point tax rate reduction dr
Slide 97: Working Capital Normalization Unlocks Cash Generation
Working Capital Normalization Unlocks Cash Generation Operating Net Working Capital1 Main Initiatives for Working Capital Optimization (in million EUR and in % of sales) 450 45.9% 1) Higher inventory buffers after the end of the chip 42.6% allocation are now being systematically unwound 400 32.2% EU
Slide 98: CAPEX Intensity Structurally Reduced
CAPEX Intensity Structurally Reduced CAPEX1 Main Initiatives for Lower Capex (in million EUR and in % of sales) 1) Fabless model fully established with future growth 140 18.4% decoupled from high wafer fab investments 120 2) Backend build-out with cutting-edge test platforms EURm in East Asia comple
Slide 99: Turning Profitable Growth into Higher Cash Flows
Turning Profitable Growth into Higher Cash Flows EBIT Margin to Free Cash Flow Main Drivers for Higher Free Cash Flows (in % of sales1) 1 ~25% 6% EBIT Margin expansion drops -2% through to cash -5% ~17% -6% 2 -1% Tax efficiency structurally improves cash conversion 3 Working capital optimization unl
Slide 100: New Capital Allocation Policy Boosting Shareholder Returns
New Capital Allocation Policy Boosting Shareholder Returns Dividend Per Share Development1 +50% Capital Allocation Principles (in EUR) 1) Funding growth and increase shareholder returns 1.50 2) We do not plan to build large cash piles 0.85 1.00 0.65 0.75 0.35 0.40 0.52 0.52 0.52 3) Payout via mix of
Slide 101: Strong Increase in Shareholder Payout Expected
Strong Increase in Shareholder Payout Expected Estimated Net Cash at 2026 yearend Total Payout for Fiscal Year Payout Scenario for FY 2026e (Illustrative only) (in million EUR) (in million EUR) ➔ We do not plan to build large cash piles +160% ➔ Payout via mix of dividends and share buybacks +110 ~95
Slide 102: Key Takeaways | Financial Performance and Targets
Key Takeaways | Financial Performance and Targets Track Record of Profitable Growth and Outperformance Elmos exceeds industry benchmarks in sales and profitability through the cycle 2030 Targets Confirmed and Upgraded Long-term goals for revenue, margins, and cash flow reinforce value creation path
Slide 103: Closing Remarks
February 24, 2026 Closing Remarks Dr. Arne Schneider, CEO
Slide 104: CMD 2026 | Closing Remarks
CMD 2026 | Closing Remarks 1 2026 Marks the Pivoting Point Toward Sustainable, Structural Growth With allocation & destocking behind us, our path toward 2030 is firmly established 2 Innovation Is Underpinned by Design-Wins – Anchoring Our 1 Billion EUR Target The majority of our 2030 revenue target
Slide 105: Q&A Session
Q&A Session Innovative Solutions Shareholder Value Solid Dividends Future Technologies Cash Transformation Fabless Model Strong Profitability elmos* China Localization
Slide 106: End of the CMD – Thank You for Your Participation
End of the CMD – Thank You for Your Participation