Slide 1: Second Quarter 2026 Earnings Call
Sense the power of light Second Quarter 2026 Earnings Call – 9:45 a.m. CEST Aldo Kamper, CEO Rainer Irle, CFO Dr Juergen Rebel, SVP Investor Relations 04 August 2026
Slide 2: Disclaimer
Disclaimer This presentation contains statements related to our future business and financial performance and future events or developments involving ams OSRAM which include management’s expectations, beliefs, intentions, and strategies concerning future events, such as revenue projections, market d
Slide 3: Q2/26 Achievements
Digital Photonics Q2/26 Achievements Strong core business supports significant shift towards Digital Photonics as key future growth driver 1 Semiconductor core portfolio revenue grew by 13% year-on-year like-for-like 2 Revenue and adjusted EBITDA at high end of guidance range 3 Very strong design-wi
Slide 4: Q2/26: Revenue & adj. EBITDA at the Upper End of the Guidance Band
Q2/26: Revenue & adj. EBITDA at the Upper End of the Guidance Band Approx. 9% growth in core portfolio; YoY adj. EBITDA decline due to deconsolidation of ENI business All figures in EURm / % of revenues Group Revenues EBITDA, EBITDA Margin (adj.)2) ø EUR/USD 1.13 1.17 1.16 1.17 1.16 19.5% approx. +9
Slide 5: Q2/26: Overview of Segment Performance
Q2/26: Overview of Segment Performance All figures in EURm / % of revenues OS CSA L&S +6% +7% -4% +11% +14% -25% Revenues ~ENI deconsolidation 280 365 364 271 265 257 244 344 330 327 239 224 216 192 184 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 22.9% 2
Slide 6: Q2/26: 13% Like-for-Like Growth of Semiconductor Core Portfolio
Q2/26: 13% Like-for-Like Growth of Semiconductor Core Portfolio All figures in EURm / % of revenues Total semi revenue Automotive revenue I&M revenue Consumer revenue approx. +13% YoY +7% in core portfolio1) +1% +19% +13% +2% +6% +31% ~non-core +4% 637 596 621 229 239 231 224 583 551 219 217 204 202
Slide 7: Q2/26: Strong Design-win Momentum – Progress in Digital Photonics
Q2/26: Strong Design-win Momentum – Progress in Digital Photonics Strong traction in core business, significant wins in new growth themes and next generation technologies on track Automotive Industrial Consumer Digital Photonics Automotive Professional Display Camera EVIYOS Advanced AR Smart AI Phot
Slide 8: EVIYOS Gaining More and More Traction on the Road
EVIYOS Gaining More and More Traction on the Road Growing visibility of intelligent projection applications highlights the versatility of EVIYOS technology. Traffic Communications NIO ET9 Visual communication supporting Deployment in the NIO ET9 interactions with pedestrians and Showcases EVIYOS-ena
Slide 9: AI Enabled Smartglass Shipments will Rise Significantly
AI Enabled Smartglass Shipments w/ Projection Display will Rise Significantly ams OSRAM‘s microLED array based optical engines are ideally suited for AI enabled smartglass inflection m units 60 AI no Display 38 AR Glasses / AI Display 16 VR Headsets 2025 2028 2030 Sources: OMDIA XR shipment forecast
Slide 10: Technology Leadership in Light Sources for Next-gen AI Smart Glasses
Technology Leadership in Light Sources for Next-gen AI Smart Glasses w/ Display ams OSRAM technology allows reaching threshold for true user friendliness uLED arrays, CMOS Light source assembly Light engine + waveguide Light engine CMOS Backplane µLED array µLED array In-coupler µLED array µLED arra
Slide 11: Developing a Complete 'Slow & Wide' Optical Engine
AI Photonics – on the Path to Develop a Complete ‘Slow & Wide‘ Optical Engine Development of Micro-Photo-Diode Array for ‚slow & wide‘ interconnects started Optical Engine Ecoystem Micro-Emitter Array u-emitter Connector array Micro- Optical Fiber optics Advanced Test & Packaging Qual CMOS DSP Sourc
Slide 12: Digital Photonics: 3D Awareness for Robots & Devices
Digital Photonics: 3D Awareness for Robots & Devices Multi-Zone dToF: Design-win momentum building across robotics and smartphones ROBOTICS SMARTPHONES Depth perception before action for safer autonomous movement Scale proof: compact integration Multi-zone dToF gives service robots compact 3D awaren
Slide 13: Free Cash Flow in Q2 2026 Driven by Operating Outflow and Capex
Free Cash Flow in Q2 2026 Driven by Operating Outflow and Capex All figures in EURm / % of revenues Operating Cash Flow (OCF) Cash Flow related to Capex Inflow from Divestments Free Cash Flow (FCF)1) (including net interest paid) incl. divestments, incl. net interest paid Q2/25 Q3/25 Q4/252) Q1/26 Q
Slide 14: 'Simplify' Progressing as Planned
‘Simplify’ Progressing as Planned – EUR 10 m Delivered by End of Q2/2026 Cost savings on track to reach End-FY26 implementation target of EUR ~30 m run-rate savings Run rate savings progress Transformation & Savings Program ‘Simplify’: 200 – Cost – Speed – Agility – 200 • Overhead reduction incl. st
Slide 15: Staggered Maturity Profile and Strong Liquidity Position
Staggered Maturity Profile Resulting from Refinancing Measures in Q2/26, Supported by a Strong Liquidity Position of EUR 1.5 bn5) Current liquidity profile Current debt maturity profile €m, IFRS values as of June 2026 €m, repayment amounts as of June 2026 €m, IFRS values as of December 2023 June 202
Slide 16: Cash-on-hand & Deal Proceeds Fully Sufficient to Cover Near-term Maturities
Cash-on-hand & Deal Proceeds Fully Sufficient to Cover Near-term Maturities Refinancing of capital structure will be focused on optimizing net financing cost Current liquidity position covers near-term maturities (incl. majority … shifting focus on optimising net tendering of OSRAM put options) and
Slide 17: Outlook
Outlook Q3 Guidance − Revenue EUR 770 m – 870 m Deconsolidated non-optical sensor business overshadows underlying sequential business upswing − Adj. EBITDA 16.0 % +/- 1.5 % − Based on assumption EUR/USD 1.15 Revenue − Semis: broadly flat due to structural & seasonal growth being Deconsolidated non-
Slide 18: Summary Q2
Summary Q2 Q2/26 Business Update: - Revenue and profitability at high end of guidance - 13 % growth like-for-like in the core semi-business - Design-wins in semi-business of more than EUR 1.6 bn Digital Photonics: - Dedicated Business Lines for scaling & focus introduced - Key milestones towards mas
Slide 19: Q&A
Q&A Aldo Kamper Rainer Irle Dr. Jürgen Rebel CEO CFO Head of IR 19