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Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 1 Analyst Meet | Mumbai | 20.12.2024 Siemens Limited | FY 2024 Sunil Mathur, Managing Director & Chief Executive Officer Wolfgang Wrumnig, Executive Director & Chief Financial Officer
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Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 2 Disclaimer This presentation has been prepared solely for use at the investor/analyst call. By attending the call where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: a. Siemens Limited ("Siemens" or "Company") cannot give assurance to the correctness of such information and statements. These forward- looking information and statements can generally be identified by the fact that they do not relate only to historical or current facts. Forward- looking statements sometimes use terminology such as "targets", "believes", "expects", "aims", "assumes", "intends", "plans", "seeks", "will", "may", "anticipates", "would", "could", "continues", "estimate", "milestone" or other words of similar meaning and similar expressions or the negatives thereof; b. By their nature, forward-looking information and statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements that may be expressed or implied by the forward-looking information and statements in this presentation. Should one or more of these risks or uncertainties materialize, or should any underlying assumptions prove to be incorrect, the Company's actual financial condition or results of operations could differ materially from that or those described herein as anticipated, believed, estimated or expected; c. Given the aforementioned uncertainties, prospective or present investors are cautioned not to place undue reliance on any of these forward-looking statements; d. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investments decision whatsoever. Investor/prospective investor must seek advice on specific situation from well-informed legal, investment, tax, financial, and management professionals; e. This presentation and its contents must not be distributed, published or reproduced. This presentation does not constitute a recommendation regarding the securities of the Company.
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Robust execution Consistent project execution Right Strategy ONE Tech Company Right Technology Digitalization, Siemens Xcelerator Connecting Real & Digital world Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 3
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Business Highlights Financial Highlights Summary Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 4
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Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 5 1) Nov 2024 Continued confidence in India’s growth story • Government spending in infrastructure continued in H1, albeit at a slower pace. Expected to pick up in H2 • First signs of consumption uptick; Manufacturing PMI: 56.51 • Private sector capex mainly in new age technologies i.e. Semiconductor, Batteries, Solar Photovoltaic, Electric Vehicles • Increased demand for energy transmission & energy efficiency solutions
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Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 6 Vertical markets – Capex investment trends Automotive Power Utilities (T&D) Commercial Buildings Data Centers Pharma Food & Beverage Metals Mobility - Mainline, Metros Cement Semiconductor Investment trend Investment trendVerticalsVerticals Chemicals Batteries Machine building Water
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| Accelerating digital transformation Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 7 Factory Automation Automation Products for Discrete Industries, SCADA, HMI, PLC, Industrial Edge, Controllers Process Automation Automation products & Solutions for Process Industries, DCS, Components (OT Security),Temperature controllers, Pressure transmitters Customer Services Spares, Repairs, Upgrades, Industry 4.0 solutions, Service agreements: Annual & Integrated plant maintenance Motion Control Motion control products for Machine Tools industries Motion Controllers, LV Drives Growth Drivers1 Electronics ~26% CAGR 2023-30 Chemicals ~15 MT Petrochemical capacity by 2030 Pharma ~10% CAGR 2023-30 Food & Beverage ~11% CAGR 2024-30 1) Source: MMR Report; BCG, Ministry of Petroleum and Natural Gas, Motilal Oswal Wealth Management
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Leading Pharma & Chemicals company Paperless operations through Integrated control (DCS1) & digitalized (MES2) solution in manufacturing >60% reduction in review cycle Leading Metal producer Variable frequency drive > 20% Energy savings | Automation & Digitilization Solutions Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 8 Key Projects 532.0 172.0 figures in million INR 1) Distributed Control System 2) Manufacturing execution system
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| Empowering our customers to scale sustainable impact Electrification and Automation Medium-voltage switchgear Substation automation, protection, power quality and communications Electrical Products LV Protection devices, switching devices, safety devices and related software Buildings Fire Safety, Building and room automation, Building management software, Security software, energy and performance services Grid Software Grid operations software and grid control software, Meter data management software, Power system consulting E-Mobility AC & DC Chargers, Connected services, Smart charging and fleet management Growth Drivers1 Data Centers 3 GW by 2030 Industrial Infrastructure Steel: 300 MTPA by 2030; Cement: 600 MTPA by 2030 Power Utilities Power for all Revamped Distribution Scheme (INR 3”’0 outlay) Commercial Buildings 1”2 Bn Sq. ft. by 2030 Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 9 1) Source: Cushman & Wakefield report, JLL India Report, Ministry of Steel, IBEF, Ministry of Power
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Major Gujarat discom 11 KV Ring Main units for 4 towns Revamping of redundant & reliable electrical distribution system Premium Real Estate Customer Security & Building management solution for high-rise commercial space (42 million sq. feet) | Building a sustainable future Key Projects figures in million INR ~ 2000.0~ 525.0 Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 10
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| Creating sustainable mobility solutions Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 11 Rail Infrastructure Metro & Mainline Signaling, Axle Counters, Metro Electrification Rolling Stock Locomotives, Propulsion systems, Hotel load converter, Bogies, Traction Motors Customer Services Servicing of Traction control converter Turnkey Signaling+Electrification+Depot equipment Growth Drivers1 Electrification of Railways 100% Electrification by 2025 Signaling >3000 stations, TCAS2) Modernized transport 800 Vande Bharat till 2030 2) Train Collision Avoidance System (KAVACH)1) Source: Indian Railways
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Indian Railways Propulsion system for 6000 HP Metro - Bangalore Phase 2A, 2B Electrification Consortium with RVNL1 | Mega projects propelling growth Key Projects ~ 2500.0 ~ 5600.0 figures in million INR 1) Rail Vikas Nigam Limited Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 12
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| Making Energy Transition work Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 13 Grid Technologies, 66 kV-800 kV Transformation of Industry Gas Services Project Management Hub 1) Gas Insulated Switchgear 2) Air Insulated Switchgear High Voltage GIS1) Electrification, Automation & Digitalization solutions Services Gas Turbines Generation, Transmission & Industrial projects High Voltage Power transformers High Voltage Substations, AC & DC Industrial Steam Turbines Modification & Upgradation Steam Turbines High Voltage AIS2) Page 13 Growth Drivers3: 600GW RE by 2032 AC transmission 433 GVA 2023-30 Grid Stability HVDC Direct current Transmission 3) Source: Ministry of Power, Government of India
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Major TBCB1 player 13x500 MVA, 765 KV Transformer Energy transmission Leading Transmission Utility +550/-425 MVAr Static compensation solution (STATCOM) Grid stability for RE integration | Continued momentum from energy demand and transition Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 14 Key Projects ~ 2600.0 ~ 2200.0 figures in million INR 1) Tariff based competitive bidding
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Siemens Xcelerator: Central to winning as ONE Tech Company BuildingsBuildings UtilitiesUtilities IndustriesIndustries Data CentersData Centers Verticals ProductivityProductivity Resource EfficiencyResource Efficiency Energy PerformanceEnergy Performance Speed & ScalabilitySpeed & Scalability Value Scorecard since 2022 125+ use cases 200+ references 11 ecosystem partners InteroperableInteroperable FlexibleFlexible OpenOpen As a serviceAs a service CybersecureCybersecure Developers Siemens Customers Partners Sustainability focus among customer driving Technology adoption & Digitalisation Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 15
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Leading Metal company Cybersecurity in heterogenous OT environment Threat assessment & counter measures Leading FMCG company Spray dryer digital twin Annual energy savings: 10% Leading Hospitality Chain Annual Energy savings > 13% Annual emission savings: 370 t CO2e Siemens Xcelerator and vertical know-how drive customer value Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 16
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| In Progress Expect to complete the demerger & listing in CY 2025 NCLT Petition & Regulatory Approvals Board Approval Stock Exchange / SEBI Approvals NCLT Application & Shareholder / Creditor Approvals Listing & Trading Approvals Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 17
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Business Highlights Financial Highlights Summary Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 18
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Cash from Operations (in billion INR) ₹21.6 Profit after Tax (% of revenue) New Orders (y-o-y) +13.8%1) Revenue (y-o-y) +14.4% Profit before Tax (% of revenue) +17.4% +13.2% EBITDA (% of revenue) +13.7% 1) Comparable, excluding 9K HP Loco Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 19 Successful performance across all KPI’s
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Profit after Tax (% of revenue) New Orders (y-o-y) +20.9%1) Revenue (y-o-y) +11.3% Profit before Tax (% of revenue) +17.6% +13.1% EBITDA (% of revenue) +14.6% Earnings per Share (in INR) ₹ 21.8 1) Comparable, excluding 9K HP Loco Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 20 Strong fourth quarter completes successful FY 2024
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+20.9%1) figures in billion INR % y-o-y development • Order backlog (482.6) • Strong growth momentum in base business • Multiple large Orders in SE and MO • Advance ordering normalization in DI, LVM 45.0 Q4 59.7 Q1 51.8 Q2 62.5 Q3 61.6 Q4 FY 23 FY 24 1) Comparable, excluding 9K Loco +12.3% +9.6% +41.0%1) -9.0%1) Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 21 Strong y-o-y growth continued on account of robust base business
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+11.3% 53.0 Q4 43.9 Q1 52.5 Q2 47.1 Q3 58.9 Q4 figures in billion INR % y-o-y development • Book-to-bill of 1.13 1) trends towards strong growth • FY 24 Revenue growth in: Product 2) business : +15.0% Project business : +13.2% +25.0% +22.2% +19.3% +7.0% FY 23 FY 24 1) Comparable, excluding 9K Loco 2) Product includes service business Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 22 Consistent double-digit growth in FY 24
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+6.3 Q4 +5.2 Q1 +7.9 Q2 +6.1 Q3 +8.6 Q4 +11.9% +11.9% +14.6% +15.0% +12.9% % of revenue figures in billion INR FY 23 FY 24 • Profit w/o FX / Commodity: (in % of Revenue) FY 23: +12.4% FY 24: +13.6% • Improved operational margin on account of revenue mix • Better price extraction from margin-healthy order backlog Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 23 Strong profitability maintained in FY 24
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FY 23 FY 24 37.6 33.6 -10.6% +15.4% FY 23 +12.9% FY 24 34.0 39.3 +13.2% • Book-to-bill at 0.85 • Orders continued to be impacted by normalization in demand Destocking impacting growth New Orders Revenue +15.7% figures in billion INR Q4 Q1 Q2 Q3 Q4 6.3 8.5 9.0 8.5 7.6 Q4 Q1 Q2 Q3 Q4 9.1 10.0 10.0 9.2 10.1 +11.6% +13.4% +17.6% +10.2% +10.0% +21.7% +10.6% FY 23 FY 24 FY 23 FY 24 -- xx.x% EBITDA % of revenue Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 24
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• Book-to-bill at 1.15 • Double-digit Orders and Revenue growth driven primarily by Electrification, Building products • Better product mix, price realisation and increased Revenue supported profitability Profitable Growth across all verticals New Orders Revenue figures in billion INR FY 23 FY 24 65.6 73.3 +13.6% FY 23 +15.6% FY 24 54.0 64.0 Q4 Q1 Q2 Q3 Q4 13.2 18.5 17.9 19.3 17.5 Q4 Q1 Q2 Q3 Q4 16.5 14.3 16.9 15.3 17.5 +11.6% +33.2% +14.1% +12.9% +16.7% +16.9% +15.6% +18.6% +5.7% FY 23 FY 24 FY 23 FY 24 -- xx.x% EBITDA % of revenue Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 25
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FY 23 FY 24 283.0 31.2 +3.5% FY 23 +6.4% FY 24 19.7 27.2 +38.0% -0.1% +6.2% +3.3% +1.3% +5.4% • Book-to-bill at 1.15 • Key new orders in FY 24 - Bangalore Metro Electrification, Propulsion system for 6k HP Loco • Profitability improved on account of revenue mix and lower R&D spent Strong order backlog; Consistent performance New Orders Revenue figures in billion INR 3.2 2.3 2.9 15.0 11.0 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 6.6 6.1 7.1 5.6 8.3 +2.1% +6.1% +8.9% +1.3% +8.0% +242.9% +26.2% +21.2%1) 1) Comparable, excluding 9K Loco FY 23 FY 24 FY 23 FY 24 -- xx.x% EBITDA % of revenue Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 26
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FY 23 FY 24 67.7 88.0 +29.9% figures in billion INR • Book-to-bill at 1.40 • Significant order growth driven by Grid Technologies, Oil & Gas and Turbines segments • Q4 FY 24 EBITDA +3% on account of one-time impacts New Orders Revenue Q4 Q1 Q2 Q3 Q4 20.3 28.2 19.6 16.9 23.3 +15.0% +12.7% FY 23 +15.7% FY 24 59.9 62.8 Q4 Q1 Q2 Q3 Q4 18.3 11.4 16.3 14.7 20.5 +13.0% +12.4% +15.0% +14.1% +19.1% +12.1% +4.9% FY 23 FY 24 FY 23 FY 24 -- xx.x% EBITDA % of revenue Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 27 Strong demand for transmission solutions
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Siemens Ltd. (Pre-Demerger)Particulars FY24FY23 482.6455.2Order Book 235.6463.8New Orders 202.5177.0Revenue +27.7+22.4EBITDA +13.7%+12.7%EBITDA Margin % 26.719.1PAT figures in billion INR SL excl. Energy Business (Post-Demerger) SEIL / Energy Business (Post-Demerger)Particulars FY24FY23FY24FY23 382.1378.0100.577.2Order Book 147.6396.188.067.7New Orders 139.7117.162.859.9Revenue +17.9+14.8+9.8+7.6EBITDA +12.8%+12.6%+15.7%+12.7%EBITDA Margin % 19.613.97.15.2PAT Order Book refers to Total Outstanding Orders as of the respective period Note: Orderbook includes INR 263 billion of 9K HP Locomotive order in FY23 SL (ex-Energy Business) and Energy Business for FY24 Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 28
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Business Highlights Financial Highlights Summary Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 29
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1) Continued confidence in India’s growth story 2) Siemens: Robust performance in FY24 3) ONE Tech Company: Siemens Xcelerator to power growth 4) Announced investments on track 5) Siemens Energy demerger on track Unrestricted | © Siemens 2024 | 2024-12-20 | FY24 Analyst MeetPage 30