Siemens Ltd. — Capital/Financing Update 2021

Oct 22, 2021

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22[nd] October, 2021

National Stock Exchange of India Limited BSE Limited

– Scrip Code

National Stock Exchange of India Limited: SIEMENS EQ BSE Limited: 500550

Disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Dear Sir / Madam,

This is to inform you that the Company, in its continuing efforts to reduce its carbon footprint and the impact on climate change, has decided to procure solar power for its manufacturing facility located at Kalwa, Maharashtra.

In this regard, the Company has executed a Power Purchase Agreement and has today entered into a Share Subscription and Shareholders Agreement for the subscription of 26% of the paidup equity share capital of Sunsole Renewables Private Limited, Mumbai, India, subject to fulfilment of conditions precedent as agreed between the parties.

In this connection, please find enclosed the information as required under Regulation 30 of the Listing Regulations read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9[th] September 2015.

Yours faithfully, For Siemens Limited

KETAN KETAN NANDKISHOR NANDKISHOR THAKER 2021.10.22 13:26:50 THAKER +05'30'

Ketan Thaker Company Secretary

Encl.: as above

Siemens Limited Management: Sunil Mathur CIN: L28920MH1957PLC010839

Birla Aurora, Level 21, Plot No. 1080, Tel.: +91 22 62517000 Dr. Annie Besant Road, Worli, Website: www.siemens.co.in Mumbai – 400030 E-mail- CorporateIndia Secretariat.in@siemens.com

Registered Office: Birla Aurora, Level 21, Plot No. 1080, Dr. Annie Besant Road, Worli, Mumbai – 400030. Telephone +91 22 6251 7000. Fax +91 22 24362403. Sales Offices: Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Gurgaon, Hyderabad, Jaipur, Jamshedpur, Kharghar, Kolkata, Lucknow, Kochi, Mumbai, Nagpur, Navi Mumbai, New Delhi, Puducherry, Pune, Vadodara, Visakhapatnam.

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DISCLOSURE UNDER REGULATION 30 OF THE LISTING REGULATIONS

Acquisition (including agreement to acquire) :

Name of the target entity, details in briefsuch as size, turnover etc.	Sunsole Renewables Private Limited (“Sunsole”).Sunsole was incorporated on 4thFebruary 2020. The paid-up equityshare capital is INR 100,000 (Indian Rupees One HundredThousand).
Whether the acquisition would fall withinrelated party transaction(s) and whetherthe promoter/ promoter group/ groupcompanies have any interest in the entitybeing acquired? If yes, nature of interestand details thereof and whether thesame is done at “arms length”	The proposed acquisition does not fall within the purview of relatedparty transactions and no promoter / promoter group / groupcompanies of Siemens Limited have any interest in the entity beingacquired.
Industry to which the entity beingacquired belongs	Renewable energy
Objects and effects of acquisition(including but not limited to, disclosure ofreasons for acquisition of target entity, ifits business is outside the main line ofbusiness of the listed entity)	Siemens Limited desires to procure renewable energy to reduce itscarbon footprint for its manufacturing facility located at Kalwa,Maharashtra. Pursuant to statutory requirements, in order to availsuch power / electricity for captive usage, Siemens Limited isrequired to subscribe to at least 26% of the paid-up equity sharecapital of Sunsole.Post-acquisition, Sunsole will be an Associate of Siemens Limited.
Brief details of any governmental orregulatory approvals required for theacquisition	No approvals are required for the acquisition.
Indicative time period for completion ofthe acquisition.	The acquisition is proposed to be completed by September 2022 andis subject to fulfillment of conditions precedents as agreed betweentheparties.
Nature of consideration - whether cashconsideration or share swap and detailsof the same	Cash consideration
Cost of acquisition or the price at whichthe shares are acquired	Up to INR 16 Million, in one or more tranches.
Percentage of shareholding / controlacquired and / or number of sharesacquired	Siemens Limited proposes to acquire at least 26% of the paid-upequity share capital of Sunsole.
Brief background about the entityacquired in terms of products/line ofbusiness acquired, date of incorporation,history of last 3 years turnover, countryin which the acquired entity haspresence and any other significantinformation (in brief).	Sunsole is incorporated as a special purpose vehicle by CleantechIndia OA Pte Ltd. to undertake the construction, operation andmaintenance of a solar power plant and to supply, on a captive basis,the powergeneratedfromthesaid solar powerplant.Accordingly, Sunsole currently does not have any operations andcorresponding turnover.Sunsole was incorporated on 4thFebruary 2020 and has had norevenue since incorporation. Accordingly, disclosure of turnover forlast three years is not applicable.

Siemens Limited

Management: Sunil Mathur CIN: L28920MH1957PLC010839

Birla Aurora, Level 21, Plot No. 1080, Tel.: +91 22 62517000 Dr. Annie Besant Road, Worli, Website: www.siemens.co.in Mumbai – 400030 E-mail- CorporateIndia Secretariat.in@siemens.com

Registered Office: Birla Aurora, Level 21, Plot No. 1080, Dr. Annie Besant Road, Worli, Mumbai – 400030. Telephone +91 22 6251 7000. Fax +91 22 24362403. Sales Offices: Ahmedabad, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Chennai, Coimbatore, Gurgaon, Hyderabad, Jaipur, Jamshedpur, Kharghar, Kolkata, Lucknow, Kochi, Mumbai, Nagpur, Navi Mumbai, New Delhi, Puducherry, Pune, Vadodara, Visakhapatnam.