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Analyst Call Earnings Release Q4 FY2026 Bernd Montag, CEO | Jochen Schmitz, CFO November 5, 2026
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These documents can be found under the following internet link https://www.siemens-healthineers.com/investor-relations/presentations-financial-publications. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures to which they refer. For technical reasons, there may be differences in formatting between the accounting records appearing in this document and those published pursuant to legal requirements. This document is an English language translation of the German document. In case of discrepancies, the German language document is the sole authoritative and universally valid version. The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice. In the event that the male form is used in this document, the information nevertheless refers to all persons. Unrestricted © Siemens Healthineers 2
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Key takeaways Unrestricted © Siemens Healthineers 3 • Synergetic core with very strong growth of 8.1% in Q4, 6.1% growth in FY2026 • Very strong equipment-book-to-bill of 1.15 in Q4, 1.14 in FY2026 • Diagnostics secures contract extension with Quest; revenue stabilizing • FY2026 group comp. growth of 4% – at upper end of guidance • FY2026 adj. EPS at €2.42 – in upper half of guidance • Dividend proposal €1.00 – unchanged
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Group: Very strong revenue growth in the synergetic core; adj. EPS stable y-o-y despite FX and inflation headwinds 1 Effects on adj. EBIT margin resulting from refunds for paid U.S. IEEPA tariffs. Revenue growth of 5.9% (PYQ: 3.7%) EMEA continues growth trajectory with 4% (PYQ: 2%) Americas with continued strong growth of 7% (PYQ: 7%) Asia Pacific Japan with significant revenue growth of 11% (PYQ: 3%) China revenue declines by -2% (PYQ: -3%), China ex-Diagnostics growing Adj. EBIT margin y-o-y down 150 bps Conversion from growth despite FX headwind of ~100 bps and inflation headwind of ~50 bps Negative impact from provisions in Imaging partly offset by positive one- offs related to pension plans and tariff refunds1 (net of ~70 bps headwind) Y-o-y improved financial income net and lower tax expenses Revenue (€m) Adjusted basic earnings per share (€) 6,322 Q4 FY2025 6,784 Q4 FY2026 +5.9% Q4 FY2025 Q4 FY2026 0.68 0.69 +1.7% Comparable Growth Unrestricted © Siemens Healthineers 4
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Imaging: Strong year end; margin held back by foreign exchange and one-offs 1 MR: Magnetic Resonance, CT: Computed Tomography Very strong growth contribution from MR1 Photon-counting CT1 and radiopharmaceuticals businesses continue high growth momentum Comparable Growth Revenue (€m) Margin Y-o-y Adj. EBIT (€m) (margin) FX headwind of ~150 bps Conversion despite inflation headwind of ~50 bps Negative impact from provisions for pending patent dispute and for field inspections, vs. positive one-off related to pension plans (net headwind of ~200 bps) 3,341 Q4 FY2025 3,729 Q4 FY2026 +10.0% 756 (22.6%) Q4 FY2025 817 (21.9%) Q4 FY2026 -70 bps Unrestricted © Siemens Healthineers 5
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Precision Therapy: Strong growth quarter for Varian, Ultrasound focusing on procedural imaging Growth softer due to preparation for focusing of Ultrasound portfolio Strong Varian growth of 7.3% (PYQ: 1.4%) Comparable Growth Revenue (€m) Margin Y-o-y Adj. EBIT (€m) (margin) FX headwind of ~100 bps Inflation headwind of ~100 bps Strong PYQ margin with favorable mix Varian margin 16.2% (PYQ 19.7%) 1,859 Q4 FY2025 1,968 Q4 FY2026 +4.8% 318 (17.1%) Q4 FY2025 273 (13.8%) Q4 FY2026 -330 bps Unrestricted © Siemens Healthineers 6
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Diagnostics: Continued sequential margin improvement, revenue stabilizing 1 Effects on adj. EBIT margin resulting from refunds for paid U.S. IEEPA tariffs. Absolute revenue stabilizing sequentially Continuing structural market rebasing in China Revenue dilution due to legacy platform decline Comparable Growth Revenue (€m) Margin Y-o-y Adj. EBIT (€m) (margin) Negative conversion from revenue decline Contribution from tariff refunds1 and positive one-off related to pension plans (Σ ~150 bps) 1,098 Q4 FY2025 1,067 Q4 FY2026 -4.2% 82 (7.5%) Q4 FY2025 58 (5.4%) Q4 FY2026 -210 bps Unrestricted © Siemens Healthineers 7
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CEO update Analyst Call, Q4 FY2026 Bernd Montag, CEO November 5, 2026
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We are shaping the next phase of Healthineers Mid-term ambition of double-digit EPS growth re-confirmed Enhancing corporate clarity • Healthineers as brand for the future • Evolving shareholder structure to be reflected in new supervisory board setup • Diagnostics carve-out initiated; intention to separate Driving performance • ‘Elevating’ strategy on track • Expanding innovation leadership • Optimizing portfolio to increase focus • Stepping up productivity and continued focus on pricing Unrestricted © Siemens Healthineers 9
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Clinical images courtesy of Max Planck Institute, Leipzig, Germany, Ludwig-Maximilians- University, Munich, Germany, and Radiologische Allianz, Hamburg, Germany Future brand: Healthineers Unrestricted © Siemens Healthineers 10
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Evolving ownership structure to be reflected in Supervisory Board composition of Healthineers Siemens AG representatives Independent shareholder representatives*Shareholder representatives * Based on criteria of the German Corporate Governance Code. Current composition: Envisaged future composition, in case of election by ASM 2027: Prof. Jonathan Lewin, M.D. Professor at the Department of Radiology and Imaging Sciences (Emory University School of Medicine) and Board of Directors Kaiser Foundation Health Plan & Hospitals Pascale Witz Member of the Supervisory Board of Fresenius Medical Care AG and Revvity Inc. Melanie Kreis Member of the Managing Board of DHL Group (Chief Financial Officer) Prof. Dr. Heyo Kroemer Chief Executive Officer at Charité – Universitätsmedizin Berlin Unrestricted © Siemens Healthineers 11
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Elevating Health Globally Healthcare AI Precision Therapy Patient Twinning Neuro- degenerative Stroke CancerCardio- vascular — we have uniquely positioned ourselves to tackle the most threatening diseases Unrestricted © Siemens Healthineers 12
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Transforming coronary interventions – with our unique capabilities 1 Augmented coronary intervention Patient Twinning Photon-counting CT depicts the entire coronary pathology Non-invasive plaque evaluation, avoiding diagnostic interventions for coronary artery disease Precision Therapy Precise ACI1 strategy (e.g., exact stent sizing) Real-time procedural guidance and AI-based image noise reduction Coronary Cockpit: Enable lumen and plaque quantification to support clinical decision making, e.g., deciding on treatment options PCI Connect: Leveraging the information on plaque morphology from CT for ACI1 planning and guidance, e.g., deciding on the need for lesion preparationHealthcare AI Syngo ecosystem connects imaging, planning, and treatment workflows Unrestricted © Siemens Healthineers 13
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Transforming radiation therapy – with our unique capabilities Accurate target identification and delineation Precise and personalized treatment deliveryHealthcare AI Turning clinical intelligence into action ARIA CORE connects imaging, planning, and treatment workflows to support informed clinical decisions and greater operational efficiency Patient Twinning Precision Therapy starts with Precision Imaging Advanced imaging (MRI, PCCT, PET/CT) provides the foundation for precise diagnosis and personalized treatment planning Precision Therapy Making complex Radiation Therapy faster & scalable Accela1 powered by NeoArc, is designed to bring greater speed and precision to complex treatments Unrestricted © Siemens Healthineers 14 1 510(k) pending. Not available for sale in any market and no guarantee of commercialization or feature availability.
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Accela, a breakthrough in cancer care Accela1 is a new radiation therapy solution engineered around NeoArc, combining speed and precision while enabling complex treatments at scale NeoArc is a new treatment technique enabling treatment in seconds instead of minutes, unlocking a new dimension of precision, productivity, and patient care Changes treatment paradigms, making polymetastatic disease treatments scalable and broadening reirradiation options Improves efficiency and capacity through AI-enabled treatment planning and radically shorter delivery times Elevates the role of radiation therapy through better clinical integration with systemic oncology care Unrestricted © Siemens Healthineers 15 1 510(k) pending. Not available for sale in any market and no guarantee of commercialization or feature availability.
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Substantiating long-term growth and increasing recurring revenue with Value Partnerships Value Partnerships x2 Orders over last 4 years1 x2 Revenue over last 4 years1 222 Total Value Partnerships 12 New Value Partnerships in FY26 • Trusted long-term C-level partner • Deep clinical expertise and consulting capabilities to translate innovation into impact • Broadest and deepest portfolio of key technologies 1 FY2022-2026 Strong finish to FY26, reinforcing momentum in strategic, long-term customer partnerships: • >$150m Value Partnership expansion with a leading academic health system in the US, advancing cancer care with advanced imaging and radiation oncology equipment • >$100m deal with a leading US oncology network serving community-based cancer providers through technology and services Deals signed in Q4 total > €400m Unrestricted © Siemens Healthineers 16
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Diagnostics carve-out initiated – intention to separate • Carve-out process initiated – intention to separate • New company name: Olyrian Diagnostics • Jochen Schmitz (CFO) assumes responsibility in Healthineers board for Diagnostics • Diagnostics standalone by mid CY2028 – creating a market leading in-vitro pure play • Transformation program continues • Mid-term ambition of mid-teens margin confirmed Diagnostics standalone 17 Initiation of carve-out Own set-up, own strategy Unrestricted © Siemens Healthineers o f c a r v e - o u t E x e c u t i o n o f c a r v e - o u t P r e p a r a t i o n
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Impact in 2028 - 2030 Productivity program ‘Transform4Future’ Continued market adaptive pricing Impact in 2026 - 2028 Cost program of €200m Market adaptive pricing generating €200m Stepping up productivity and continued focus on pricing Unrestricted © Siemens Healthineers 18
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Mid-term outlook Imaging Precision Therapy ▪ Mid to high single-digit revenue growth (p.a.) ▪ Margin expansion from scale (p.a.) ▪ Improving towards mid single-digit growth ▪ Margin expansion towards mid-teens ▪ High single-digit revenue growth (p.a.) ▪ Margin expansion by ~100 bps (average p.a.) Diagnostics 6 – 9% Revenue growth (p.a.) Siemens Healthineers Double-digit5 – 7% adj. EPS growth (p.a.) Revenue growth (p.a.) Unrestricted © Siemens Healthineers 19
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CFO update Analyst Call, Q4 FY2026 Jochen Schmitz, CFO November 5, 2026
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21 Reliable revenue, earnings and cash compounder with sound capital deployment Capital Markets Day 2025 Environmental, Social, Governance Dividend & share buyback Balance-sheet strength Disciplined M&A Reliable free cash Reliable revenue Profitable growth Organic growth investment Shareholder Value Unrestricted © Siemens Healthineers 21
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Reliable revenue funds innovations to maintain price premiums, gain market shares, and expand markets 1 Cash conversion rate ǀ 2 510(k) pending. Not available for sale in any market and no guarantee of commercialization or feature availability ǀ 3 CT: Computed Tomography, MR: Magnetic Resonance ǀ 4 virtually helium-free containing only 0.7l of helium Generating reliable free cash … … while funding breakthrough innovations • Reliable cash from reliable revenue and earnings conversion • Sustainable cash conversion rate of 0.8 to 0.9 • Improvement in operating working capital turns • Well managed capex spend of 3-4% of revenue Platform breakthroughs: • Accela2 – transforming cancer care • Artis Icono – six new systems in interventional imaging • Naeotom fleet – leading in photon-counting CT3 • DryCool – by 2030 all MRs3 helium-free4 FY24 FY25 FY26 2.1 2.7 2.4 FY24 FY25 FY26 8.6 8.4 8.3CCR1 R&D expenses in % of revenue Free cash flow (in €bn) FY27 and beyond FY27 and beyond 8 to 9%0.90 0.8 to 0.90.880.87 Leading Healthcare AI innovations • AI-Rad Companion Organs RT – deep learning-trained Organs-at-risk countouring • Optiq-AI – AI-based live image denoising • Coronary cockpit – first seamless integration between radiology and cath lab • DeepResolve – AI-powered MR3 image reconstruction Unrestricted © Siemens Healthineers 22
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Optimizing capital allocation post deconsolidation from Siemens AG 1 Pro forma Mar 31, 2021 ǀ 2 Dividend proposal subject to shareholder approval Strengthening the balance sheet… … to optimize capital allocation Deleveraging from reliable cash generation One-time impacts in FY27 on EBITDA and cash from deconsolidation from Siemens AG and from Diagnostics carve-out Continuing stable to progressive dividend payout Shareholder Value 4.2 2.7 ~2.5x and lower Post IPO Varian closing1 FY26 FY27 and beyond Leverage (Net debt/EBITDA) • Focusing on procedural Ultrasound • Intention to separate Diagnostics • Disciplined M&A Strategic share buybacks as meaningful lever to deploy capital with considerably higher free float (after spin by Siemens AG) and when in leverage target zone. Dividend per share (in €) 0.7 1.02 FY26Post IPO FY27 and beyond Unrestricted © Siemens Healthineers 23
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Prepared to refinance post deconsolidation from Siemens AG Note: all assumptions based on current interest rate environment 1 Loans translated to EUR according to spot rate as of Sep 30, 2026 ǀ 2 Hedged loans translated to EUR according to underlying forward rates ǀ 3 Refinanced with a €1.25bn floating rate short-term loan ǀ 4 Excluding effects from potential market value compensation for early termination of loans from Siemens AG Moody’s A3 rating Targeted debt financing • Bridge financing and operational liquidity (incl. backup) to be secured prior to deconsolidation • Replacing bridge financing over time with bonds, with well-balanced maturity profile • Required bond volume supported by further deleveraging and market and fair value compensation from Siemens AG Market rates at arms-length from Siemens AG Current debt financing • Loan volume of €12.5bn1 • Repayment volume after hedging instruments of €11.4bn2 • €0.3bn loan repaid in Sep ‘26, $1.7bn loan refinanced in Oct ‘263 • After Oct ‘26, ~70% of loan volume already refinanced at current interest rate levels (vs. financing from low interest rate environment in 2021 related to Varian acquisition) FY27: Financial income net between -€440 and -400m4 Outer years: Financial income net between -€440 and -400m Unrestricted © Siemens Healthineers 24
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Atellica franchise revenue development Atellica franchise in % of core lab Drivers for margin progression: transformation and cost degression Diagnostics transformation continues – in order to achieve mid-teens margins over the mid-term Note: Graphs indicative only, not to scale 1 PoC: Point-of-Care Diagnostics | 2 Decrease in profit pool in Chinese market | 3 accumulated P&L effective cost savings Growing into a one-platform P&L in the core lab • Growth dilution from legacy to decrease after FY26 • Inflection point for successful Atellica customer retention, e.g., multi-year contract extension with Quest Diagnostics • Strong Atellica growth momentum on increasing absolute base • Cost degression with growing P&L-share of Atellica franchise Transformation continues: Further rightsizing and focusing • Further rightsizing core lab R&D to one-platform, service, procurement, manufacturing & logistics • Focused go-to-market in PoC1 and Special Lab Solutions • Further structural rightsizing of support functions and standalone savings FY23 FY26 CAGR >15% CAGR HSD% Legacy Mid-term FY23 FY24 FY25 FY26 FY26 Mid-term Rightsizing & focusing Cost degression Mid-term Mid-teens >0.4 7.7%5.3%0.8% Future margin progressionTransformation program 0.4 0.3 0.2 3.2%2 >40% >70% >90% Adj. EBIT margin Total savings in €bn3 Additional savings Unrestricted © Siemens Healthineers 25
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Preparation FY26 Execution FY27 – FY28 ✓ Verticalization of sales and service (FY23-25) ✓ Own future operating model designed ✓ Legal structure and commercial model defined ✓ New brand name and identity finalized Legal carve-out into independent entities¹ Implementation of standalone operating model Separate, own functional and IT setup Brand transition across markets and products 1 Subject to applicable legal and regulatory requirements. Standalone by mid CY28 Carve-out preparation completed Diagnostics standalone by mid 2028 Unrestricted © Siemens Healthineers 26
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Key headwinds & future setup Headwind from tariffs Our actions Stepping up productivity to mitigate key headwinds and to trim Healthineers setup for the future FY26 - FY28: Cost program + market adaptive pricing €200m cost productivity and €200m pricing FY28 - FY30: ‘Transform4Future’ Productivity program to mitigate stranded costs from optimized setup: • Trimming of future setup • Re-designing processes end-to-end in new setup with the use of AI Continued market adaptive pricing to mitigate inflation in the supply chain Headwind from inflation in the supply chain Mainly memory chips & raw materials Ultrasound portfolio Focusing on procedural Ultrasound (stranded costs of ~€50m) Deconsolidation Separation from Siemens AG in FY27 (recurring costs of ~€50m) Diagnostics carve-out Setup without Diagnostics (stranded costs of >€0.2bn) Unrestricted © Siemens Healthineers 27
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Overview of key adjustment items in FY27 ∑ ~ -€600m ~ -€100m in FY2026 Market value compensation for early termination of loans from Siemens AG to be adjusted in P&L (quantification depending on interest rate environment) • Deconsolidation from Siemens AG mainly legal costs, brand transition, refinancing costs • Diagnostics carve-out mainly brand transition, IT verticalization • Repositioning of Ultrasound Other adjustment items in FY27 • Purchase Price Allocation • Diagnostics transformation • Severances and others ∑ ~ -€500m ~ -€500m in FY2026 Adjustment items in FY27 (in adjusted EBIT and EPS) Unrestricted © Siemens Healthineers 28
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Outlook Fiscal Year 2027 FY2027E Revenue growth Adj. EPS 4.0-5.0% €2.20-2.40 FY2026 Revenue growth Adj. EPS 4.0% €2.42 therein 12cts net impact from tariff refunds and one-offs1 includes ~0.7%-pts dilution from focusing Ultrasound 1 Net effects on adj. EPS resulting from refunds in Q3 and Q4 for paid U.S. IEEPA tariffs, provisions in Imaging in Q4, and positive one-offs related to pension plans in Q4 Unrestricted © Siemens Healthineers 29
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Adj. EPS drivers in FY27 Note: Graph indicative only, not to scale 1 Net effects on adj. EPS resulting from refunds in Q3 and Q4 for paid U.S. IEEPA tariffs, provisions in Imaging in Q4, and positive one-offs related to pension plans in Q4 as of CMD 2025 Others Tax rate, financial income, separation costs SAG, Ultrasound Inflation in the supply chain Mitigation Market-adaptive pricing and cost productivity Operational improvement FY2026 ~€2.30 €2.42 Incl. 12cts net impacts1 €2.20-2.40 FY2027E €2.20-2.40 FY2026 Initial EPS guidance Unrestricted © Siemens Healthineers 30
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Assumptions FY2027 Mid single-digit revenue growth Mid to high double-digits bps margin decline1Imaging Central items adjusted EBIT -€350 and -300m (incl. negative impact from focusing of Ultrasound portfolio2) Financial income net -€440m to -400m Tax rate 24 to 26% Others Mid to high single-digit revenue growth Mid to high double-digits bps margin decline1 Precision Therapy Flat revenue development Low to mid double-digits bps margin expansion1Diagnostics FY2027E 1 FY26 includes contribution from net effects resulting from refunds for paid U.S. IEEPA tariffs | 2 see Appendix for restatement of prior years ted © Siemens Healthineers 3 1 Unrestricted © Siemens Healthineers 31
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NAM Roadshow Pre-spin roadshow 1st Dec. 26 25th Feb. 27 (Forchheim, Germany) & 1st Mar. 27 (Charlotte, North Carolina) RSNA 4th Feb. 27 Q1 results US conferences Post Q1 (virtual) 18th Feb. 27 AGM Meet Healthineers MontrealMiami New York San Francisco New York London North America Frankfurt + Paris North America UK Continental Europe 8th Feb. – 10th Feb. 2711th Jan. – 13th Jan. 27 2nd Mar. – 20th Mar. 2730th Nov. – 3rd Dec. 26 IR program for H1 FY27 Unrestricted © Siemens Healthineers 32 - investor days -
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Appendix This slide template contains (advanced) animations. To keep them, do not ungroup any elements. For changes go to Animations > Animation Pane. Unrestricted © Siemens Healthineers 33
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EBIT to Free Cash Flow bridge and cash conversion rates 1 CCR for Healthineers = (Free Cash Flow pre tax - Repayment of 3rd party lease liabilities) / (Healthineers EBIT excl. PPA) | 2 CCR for Segments = Free Cash Flow / EBIT Q4 FY26 Siemens Healthineers EBIT to Free Cash Flow (€m) Healthineers EBIT 87′ PPA amortization EBIT excl. PPA amortization 239′ Depr. of PPE & amort. of intang. excl. PPA -174′ Change in OWC 299′ Change in other assets & liabilities -85′ -288′ Free cash flow Income taxes Repayment of 3rd party lease liabilities FCF pre tax - Repayment of lease liabilities Repayment of 3rd party lease liabilities Add. to intangible assets, PPE Operating cash flow pre tax Other 89′ Add. to operating leases 848′ 934′ 1″173 1″302 EBITDA -47′ 967′ 47′ -311′ 703′ CCR1 1.04 Imaging PTH Diagnostics >1 1.0 0.8 CCR2 Unrestricted © Siemens Healthineers 34
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Unrestricted © Siemens Healthineers How to change paragraph levels - All levels font Calibri 26 pt. - Level 1 is chapter title: Bold, bulleted. - Level 2, 3, 4 and 5 is chapter description: Regular, no bullet, indent 7.5 mm. Switch between Text- and bullet levels: ● click 35 FY26 balance sheet and net debt bridge 1 Leverage is net debt incl. pension over EBITDA rolling four quarters | 2 Includes fair values from derivatives Net debt overview Capital structure development in FY26 (in €bn) in €bn Sep 30, 2025 Sep 30, 2026 Cash and cash equivalents 2.2 2.5 Receivables from the Siemens Group from financing activities 0.0 0.0 Short-term and long-term financial debt (0.8) (0.9) Liabilities to the Siemens Group from financing activities2 (13.4) (13.2) Net debt (12.0) (11.5) Provisions for pensions and similar obligations (0.5) (0.3) Net debt (incl. pensions) (12.5) (11.8) Leverage1 2.8x 2.7x Pensions CF from operating act. CF from investing act. CF from financing act. and others Sep 30, 26 Net Debt Sep 30, 25 12.0 0.9 1.9 11.5 -3.3 0.5 0.3 12.5 11.8
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Unrestricted © Siemens Healthineers • To ensure a clean and swift workflow with bullet points, please use the PRE-SET PLACEHOLDERS or FORMATTED TEXTBOXES – do not use “normal” textboxes that have been added via the steps → add → textbox. These textboxes cannot be formatted with the automatic formatting step • AUTOMATIC INDENTATIONS IN PLACEHOLDERS are only to be done using the tool decrease or increase the list level (or Shift + Alt + / →) • Formatted textboxes/ placeholders are available in the template – just make a copy OR: generate a new placeholder by following these steps → Start → new slide → choose layout "Content Slide" • Placeholders can be filled and then copied. The copied placeholder will keep its formatting Add a Footnote/Source/ Disclaimer directly into the footer. 36 Loan maturity profile 1 Loans translated to EUR according to spot rate as of Sep 30, 2026 | 2 Synthetic EUR interest rate (FX-hedged) 3 Current interest rate across all maturities as of Sep 30, 2026, is ~2.2% p.a.| 4 Hedged loans translated to EUR according to underlying forward rates ▪ Total loan volume ~EUR 12.5 bn equivalent1 ▪ Average interest rate ~2.2% p.a.3 ▪ Total repayment volume ~EUR 11.4 bn equivalent4 Loans with Siemens Group as of Sep 30, 2026 (in EUR m) Comments Top 10 loans ranked in EUR volume Notional Currency Notional in m Notional in EUR m Interest Rate Maturity USD 1,740 1,5321 0.59%2 FY 2031 USD 1,689 1,4871 0.26%2 FY 2027 USD 1,486 1,3091 1.40%2 FY 2041 USD 1,243 1,0951 0.31%2 FY 2028 USD 990 8721 3.44% FY 2046 EUR 850 850 3.58% FY 2029 EUR 750 750 3.40% FY 2032 EUR 700 700 3.59% FY 2030 EUR 700 700 3.80% FY 2032 EUR 600 600 3.20% FY 2029 EUR USD hedged in EUR USD Others 1,4871 701 FY 2027 1,000 1,0951 FY 2028 FY 2029 FY 2030 FY 2031 FY 2032 FY 2041 FY 2046 1,557 2,095 1,5321 1,3091 8721 1,950 1,700 1,450
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Unrestricted © Siemens Healthineers How to change paragraph levels - All levels font Calibri 26 pt. - Level 1 is chapter title: Bold, bulleted. - Level 2, 3, 4 and 5 is chapter description: Regular, no bullet, indent 7.5 mm. Switch between Text- and bullet levels: ● click 37 Provisions for pensions 1 All figures are reported on a continuing basis | 2 Provisions for pensions and similar obligations does not include net defined benefit assets (Q4 FY2026: €+0.1bn) presented in the line item other assets; Defined Benefit Obligation (DBO) including other post-employment benefit plans (OPEB) of ~€-0.0bn in €bn1 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 Q1 FY2026 Q2 FY2026 Q3 FY2026 Q4 FY2026 Defined benefit obligation (DBO) (3.4) (3.8) (3.8) (4.1) (3.3) (3.2) (3.5) (3.4) (3.4) (3.4) (3.4) (3.1) Fair value of plan assets 2.6 2.8 2.8 3.3 2.8 2.8 3.0 3.1 3.1 3.1 3.2 2.9 Provisions for pensions and similar obligations2 (0.8) (1.0) (1.0) (0.9) (0.7) (0.5) (0.6) (0.5) (0.5) (0.4) (0.4) (0.3) Discount rate 2.9% 1.8% 1.5% 1.7% 4.3% 4.8% 3.8% 4.1% 4.2% 4,3% 4,3% 4,9% Interest Income 0.1 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.1 Actual return on plan assets (after expenses) 0.1 0.3 0.1 0.2 (0.6) 0.1 0.3 0.1 0.0 0.0 0.1 0.1 Q4 FY2026 Key financials – Pensions and similar obligations
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Unrestricted © Siemens Healthineers How to change paragraph levels - All levels font Calibri 26 pt. - Level 1 is chapter title: Bold, bulleted. - Level 2, 3, 4 and 5 is chapter description: Regular, no bullet, indent 7.5 mm. Switch between Text- and bullet levels: ● click 38 Restatement: Procedural ultrasound in Precision Therapy, General imaging ultrasound in recon. due to discontinuation Restated figures comparable to new structure (effective as of Oct 1st, 2026) in €m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2025 FY2026FY2025 FY2025 FY2025 FY2025 FY2026 FY2026 FY2026 FY2026 Precision Therapy Total adjusted revenue1 1,534 1,677 1,539 1,772 1,533 1,631 1,678 1,889 6,522 6,732 Comparable revenue growth2 7.8% 9.6% 7.2% 2.8% 6.2% 5.1% 10.4% 5.6% 6.7% 6.7% Adjusted EBIT 243 260 252 335 255 237 318 285 1,091 1,094 Adjusted EBIT margin 15.9% 15.5% 16.4% 18.9% 16.6% 14.5% 18.9% 15.1% 16.7% 16.3% Reconciliation (incl. central items) Total adjusted revenue1 102 111 98 110 88 92 86 99 421 364 Adjusted EBIT -113 -83 -100 -76 -71 -74 -55 -83 -372 -283 1 Total adjusted revenue is defined as total revenue adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior-year period such adjustments were made to revenue. | 2 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations.
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Unrestricted © Siemens Healthineers How to change paragraph levels - All levels font Calibri 26 pt. - Level 1 is chapter title: Bold, bulleted. - Level 2, 3, 4 and 5 is chapter description: Regular, no bullet, indent 7.5 mm. Switch between Text- and bullet levels: ● click 39 Restatement: New regional split between Europe and AMEA1, Americas and China unchanged 1 AMEA = Asia, Middle East & Africa | 2 Year-over-year on a comparable basis, excluding currency translation and portfolio effects as well as effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Restated figures comparable to new structure (effective as of Oct 1st, 2026) in €m Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2025 FY2026FY2025 FY2025 FY2025 FY2025 FY2026 FY2026 FY2026 FY2026 Revenue by region (location of customer) Europe 1,567 1,580 1,570 1,830 1,586 1,692 1,705 1,918 6,547 6,902 Comparable revenue growth2 -3.1% -3.1% 0.4% 1.7% -0.1% 7.6% 8.5% 4.6% -1.0% 5.1% Therein: Germany 282 281 292 360 274 294 297 361 1,215 1,225 Comparable revenue growth2 10.0% 1.2% 2.6% 6.9% -3.3% 4.4% 1.7% 0.2% 5.2% 0.7% Americas 2,368 2,627 2,542 2,745 2,387 2,534 2,585 2,996 10,283 10,502 Comparable revenue growth2 14.3% 14.0% 12.3% 7.2% 8.8% 7.0% 3.1% 7.3% 11.7% 6.5% Therein: United States 2,024 2,286 2,225 2,369 2,067 2,179 2,257 2,579 8,904 9,081 Comparable revenue growth2 14.4% 15.8% 13.8% 7.6% 11.1% 6.9% 3.6% 7.6% 12.6% 7.2% Asia, Middle East & Africa 929 1,086 930 1,118 879 930 898 1,214 4,063 3,920 Comparable revenue growth2 11.6% 9.7% 8.5% 2.9% 3.6% -5.6% 0.9% 9.1% 7.8% 2.0% China 618 615 620 629 550 525 576 656 2,482 2,307 Comparable revenue growth2 -7.3% 1.6% 6.4% -3.4% -4.8% -9.4% -10.3% -1.9% -0.9% -6.6%
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Unrestricted © Siemens Healthineers Glossary ‘Revenue’ in this presentation refers for segments to ‘Adjusted revenue‘ Adjusted revenue is defined as consolidated revenue reported in the company’s consolidated statements of income adjusted for effects in line with revaluation of contract liabilities from IFRS 3 purchase price allocations. Neither in the current reporting period nor in the prior-year period such adjustments were made to revenue. Comparable revenue growth (growth or revenue growth) is defined as the development of adjusted revenue, net of currency translation effects, which are beyond our control, and port folio effects, which involve business activities that are either new to our business or no longer a part of it. EBITDA is defined as income before income taxes, interest income and expenses, other financial income, net as well as amortization, depreciation & impairments. Adjusted EBIT (adj. EBIT) is defined as income before income taxes, interest income and expenses and other financial income, net, adjusted for expenses for portfolio-related measures, severance charges, and other expenses in connection with restructuring measures within the meaning of IAS 37. In addition, centrally carried pension service and admin istration expenses are excluded from adjusted EBIT of the segments. Adjusted EBIT margin (adj. EBIT margin or margin) is defined as the adjusted EBIT, divided by adjusted total revenue. Adjusted basic earnings per share (adj. EPS) is defined as basic earnings per share, adjusted for portfolio-related measures, severance charges, and other expenses in connection with restructuring measures within the meaning of IAS 37, net of tax. Free cash flow (FCF) comprises the cash flows from operating activities and additions to intangible assets and property, plant and equipment included in cash flows from investing activities. Equipment book-to-bill ratio is defined as the ratio of equipment orders to equipment revenue, where equipment refers to all businesses except Diagnostics , product-based services and procedure consumables. Synergetic core consists of the segments Imaging and Precision Therapy for which we introduced the ‘Elevating Health Globally’ strategy at our Capital Market Day at Nov. 17, 2025. Please find further explanations regarding our financial key performance indicators in chapter “A.2 Financial performance system“ and in the notes to the consolidated financial statements Note 29 “Segment information“ in the Annual Report of 2025 of Siemens Healthineers. Additional information is also included in the Quarterly Statement and in the Half-Year Report 2026. These documents can be found under the following internet link https://www.siemens-healthineers.com/investor-relations/presentations-financial-publications. 40
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