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Logo Société Infineon - ESG

Dear Sir,
BDL Capital Management is an asset management company founded in 2005 and which manages
European equity funds invested over long-term horizons on the basis of companies’ fundamentals. BDL
Capital Management is currently a shareholder of Infineon.


Climate change is leading to ever-stricter regulations and new consumption patterns. These
developments present opportunities but also risks to European companies’ business models. Tougher
financing conditions and asset impairment due to loss of market share as a result of an inadequate
environmental policy, are just some of the factors that can negatively influence an enterprise’s intrinsic
value. We therefore pay particularly close attention to the ESG policies of the companies in which we
invest, and especially their energy transition strategy.

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