2023 results on track with deleveraging and POWER25 objectives

• Sales up 14% on an organic basis, an outperformance of 430bps
• Operating margin improved by 100bps, to 5.3% of sales
• Strong net cash flow of €649m or 2.4% of sales, boosted by Manage by Cash program
• Net debt/Adjusted EBITDA ratio significantly reduced to 2.1x at year-end (vs. 3.1x at June 30, 2022, right after the acquisition of HELLA)

As the electric vehicle technology continues to advance, batteries are becoming more crucial than ever. In the past decade, advances in battery technology have already enabled electric vehicles to travel further, charge faster, and become more affordable for consumers. Battery technology is rapidly evolving, with new and exciting developments around the corner.

Renesas Electronics Corporation (“Renesas”, TSE: 6723), a supplier of advanced semiconductor solutions, and Altium Limited (“Altium”, ASX: ALU), a global leader in electronics design systems, today announced they have entered into a Scheme Implementation Agreement (“SIA”) for Renesas to acquire Altium by way of a Scheme of Arrangement under Australian law (“Scheme”).