Siemens Ltd. — Interim / Quarterly Report 2022

Aug 2, 2022

==> picture [120 x 27] intentionally omitted <==

2[nd] August, 2022

National Stock Exchange of India Limited BSE Limited

Scrip Code –

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

Information pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)

Dear Sir / Madam,

Pursuant to Regulation 30, 33 and other applicable Regulations of the Listing Regulations, this is to inform you that the Board of Directors of the Company at its Meeting held today, inter-alia, approved the Un-audited Financial Results (Standalone and Consolidated) (with limited review) for the third quarter / nine months ended 30[th] June, 2022 (copy enclosed).

Please find enclosed the Press Release issued by the Company in this regard.

The Board Meeting commenced at 2.31 p.m. (CEST) and concluded at 5.53 p.m. (CEST).

Kindly take the same on record.

Yours faithfully, For Siemens Limited

KETAN Digitally signed by KETAN NANDKISHOR NANDKISHOR THAKER Date: 2022.08.02 THAKER 21:28:13 +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 6251 7000 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.

B S R & Co. LLP

Chartered Accountants

14th Floor, Central B Wing and North C Wing, Telephone: +91 22 6257 1000 Nesco IT Park 4, Nesco Center, Fax: +91 22 6257 1010 Western Express Highway, Goregaon (East), Mumbai - 400 063, India

Limited Review Report on unaudited standalone financial results of Siemens Limited for the quarter ended 30 June 2022 and year-to-date results for the period from 1 October 2021 to 30 June 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

To the Board of Directors of Siemens Limited

1. We have reviewed the accompanying Statement of unaudited standalone financial results of Siemens Limited (“the Company”) for the quarter ended 30 June 2022 and year-to-date results for the period from 1 October 2021 to 30 June 2022 (“the Statement”).

2. This Statement, which is the responsibility of the Company’s management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “ Interim Financial Reporting ” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Our responsibility is to issue a report on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B S R & Co. LLP

Chartered Accountants

Firm’s Registration No.:101248W/W-100022

FARHAD Digitally signed by FARHAD HOSHEDER HOSHEDER BAMJI Date: 2022.08.02 BAMJI 19:31:28 +05'30'

Farhad Bamji

Partner

Mumbai 02 August 2022

Membership No.: 105234 UDIN:22105234AOCBFV5872

Registered Office:

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

SIEMENS

SI	MENS	MENS	MENS					.	.	.
	Statement of Standalone unaudited financial results for the quarter			and nine	months			ended 30 June 2022
																			(Rs. in million)
								Quarter ended						Nine months			ended		Year ended
No.		Particulars		30 June				31 March			30 June			30 June			30 June		30 September
				2022				2022			2021			2022			2021		2021
				(Unaudited)				(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)		(Audited)
1		Revenue from operations
	a)	Revenue from contracts with customers		38,647				34,173			25,659			103,514				85,052	123,280
	b)	Other operating revenue				501			576				469		1,487			1,400		1,944
		Total revenue from operations (a+b)		39,148				34,749			26,128			105,001			86,452		125,224
2		Other income				746			638				463		1,955			1,572		2,189
3		Total income		39,894				35,387			26,591			106,956				88,024	127,413
4		Expenses
	a)	Cost of materials consumed			6,218				8,601			5,323			20,418			16,448	25,242
	b)	Purchases of stock-in-trade		12,728				10,187				9,484		34,445				28,511	36,856
	c)	Changes in inventories of finished goods, work-in-progress and				764			(1,848)			(2,434)			(2,659)			(4,720)		(3,131)
		stock-in-trade
	d)	Project bought outs and other direct costs			6,921				6,645			5,086			19,227			18,332	26,486
	e)	Employee benefits expense (refer note 4)			4,098				3,953			3,906		12,213				11,334	15,535
	f)	Finance costs				37			103				56		194			137		195
	g)	Depreciation and amortisation expense (refer note 4)				519			523				535		1,573			1,713		2,250
	h)	Other expenses, net (refer note 4)			4,629				2,911			2,517			9,983			6,470		9,925
		Total expenses		35,914				31,075			24,473			95,394				78,225	113,358
5		Profit before tax from continuing operations (3-4)			3,980				4,312			2,118			11,562			9,799	14,055
6		Tax expense
	a)	Current tax			1,099				1,056				533		2,981			2,519		3,601
	b)	Deferred tax expense/(credit)				(74)			69				(10)		6			33		14
					1,025				1,125				523		2,987			2,552		3,615
7		Net Profit after tax for the period from continuing operations			2,955				3,187			1,595			8,575			7,247	10,440
		(5-6)
		Discontinued operations (refer note 1 and 5)
		Profit/(loss) before tax from discontinued operations				(24)			136				27		141			574		623
		Gain from sale of discontinued operations				-			-				-		-			487		487
		Tax expense/(credit) on discontinued operations / divestment				(6)			34				7		36			509		520
8		Profit/(loss) after tax for the period from discontinued				(18)			102				20		105			552		590
		operations
9		Profit for the period (7+8)			2,937				3,289			1,615			8,680			7,799	11,030
10		Other comprehensive income / (loss)
	a)	Items that will not be reclassified to profit or loss
		Re-measurement of defined benefit plans, net				231			(329)				-		(71)			143		368
		Income tax effect				(58)			83				-		18			(36)		(93)
	b)	Items that will be reclassified to profit or loss
		Fair value changes on derivatives designated as cash flow				102			(22)				(73)		100			97		(5)
		hedges, net
		Income tax effect				(26)			6				19		(25)			(24)		1
		Total other comprehensive income / (loss)				249			(262)				(54)		22			180		271
11		Total comprehensive income (including other			3,186				3,027			1,561			8,702			7,979	11,301
		comprehensive income/ (loss)) [9+10]
12		Paid-up equity share capital				712			712				712		712			712		712
		(Face Value of equity shares : Rs. 2 each fully paid up)
13		Reserves (excluding revaluation reserve) as shown in the				-			-				-		-			-	102,725
		Audited Balance sheet of the previous year
14		Earnings Per Share (EPS) of Rs. 2 each (in Rupees) **
		- Basic and diluted EPS from continuing operations				8.30			8.94				4.48		24.08			20.35		29.32
		- Basic and diluted EPS from discontinued operations			(0.05)				0.29				0.06		0.30			1.55		1.65
		- Basic and diluted EPS from total operations				8.25			9.23				4.54		24.38			21.90		30.97
		** not annualised except year end EPS

SIEMENS

Segmentwise Revenue, Results, Assets & Liabilities for the quarter and nine months ended 30 June 2022

1. Segment Revenue Energy Smart Infrastructure Mobility Digital Industries Others Less : Inter segment revenue Total revenue from operations Discontinued operation (refer note 1 & 5) 2. Segment Results Energy Smart Infrastructure Mobility Digital Industries Others Profit from continuing operations Add : a) Other Income Less : a) Finance costs Profit before tax from continuing operations Profit / (Loss) before tax from discontinued operations (refer note 1 & 5) Gain from sale of discontinued operations (refer note 5) 3. Segment Assets Energy Smart Infrastructure Mobility Digital Industries Others Unallocated (including cash and bank balances) Asset classified as held for sale (refer note 1) Total Assets 4. Segment Liabilities Energy Smart Infrastructure Mobility Digital Industries Others Unallocated Liabilities classified as held for sale (refer note 1) Total Liabilities

30 June 31 March 30 June 30 June 30 June 2022 (Unaudited) 2022 (Unaudited) 2021 (Unaudited) 2022 (Unaudited) 2021 (Unaudited) 2021 (Audited) 14,544 11,958 9,549 37,394 31,631 47,341 11,922 12,055 8,630 33,944 27,906 40,515 3,614 2,529 1,266 8,948 5,471 8,282 9,962 8,739 6,838 26,611 22,454 30,293 184 292 216 638 693 1,033 40,226 35,573 26,499 107,535 88,155 127,464 1,078 824 371 2,534 1,703 2,240 39,148 34,749 26,128 105,001 86,452 125,224 1,411 1,536 952 4,243 4,596 5,821 1,243 1,623 765 4,098 3,846 5,918 1,118 902 459 2,635 2,074 2,982 73 234 153 537 558 817 828 992 315 2,486 1,803 2,330 9 26 19 45 83 14 3,271 3,777 1,711 9,801 8,364 12,061 746 638 463 1,955 1,572 2,189 37 103 56 194 137 195 3,980 4,312 2,118 11,562 9,799 14,055 (24) 136 27 141 574 623 - - - - 487 487 41,150 41,019 40,173 41,150 40,173 38,500 45,393 44,594 43,074 45,393 43,074 43,818 11,776 10,614 9,154 11,776 9,154 8,572 11,498 10,676 9,401 11,498 9,401 8,263 2,634 2,597 1,983 2,634 1,983 2,367 70,083 67,878 59,502 70,083 59,502 69,948 2,348 2,372 2,143 2,348 2,143 2,354 184,882 179,750 165,430 184,882 165,430 173,822 29,930 29,668 27,066 29,930 27,066 28,402 19,498 18,869 17,705 19,498 17,705 19,739 7,655 7,107 4,756 7,655 4,756 5,306 10,058 9,094 9,215 10,058 9,215 7,948 1,527 1,359 709 1,527 709 1,058 5,474 5,534 4,171 5,474 4,171 5,864 1,428 2,013 1,694 1,428 1,694 2,068 75,570 73,644 65,316 75,570 65,316 70,385 30 September (Rs. in million) Standalone Quarter ended Nine months ended Year ended

Notes :

• 1 The Board of Directors at its meeting held on 27 May 2022, approved the sale and transfer of the Company's Large Drives Applications (LDA) business (Portfolio Companies Segment) to Siemens Large Drives India Private Limited (a subsidiary of Siemens Large Drives GmbH, which in turn is a subsidiary of Siemens AG), as a going concern on a slump sale basis, with effect from 1 July 2022, for a cash consideration of Rs. 4,400 million. The said transaction is subject to receipt of requisite statutory and regulatory approvals, as applicable. Subsequently, the LDA business has been sold and transferred by the Company to Siemens Large Drives India Private Limited on 1 July 2022.

The results of LDA business included in the above financial results and segment results, disclosed as discontinued operations, are as follows:

	(Rs. in million) Year ended 30 June 2022 31 March 2022 30 June 2021 30 June 2022 30 June 2021 30 September 2021 1,411 1,536 952 4,243 3,183 4,408 1,435 1,400 925 4,102 2,981 4,157 (24) 136 27 141 202 251 (6) 34 7 36 53 64 (18) 102 20 105 149 187 Nine months ended Quarter ended
Total income Total expenses Profit/(loss) before tax from discontinued operations Tax expense/(credit) on discontinued operations Profit/(loss) after tax from discontinued operations Particulars

2 The Company has executed a Power Purchase Agreement and entered into a Share Subscription and Shareholders Agreement on 22 October 2021, for the subscription of 26% of the paid-up equity share capital of Sunsole Renewables Private Limited (Sunsole), subject to fulfilment of conditions precedent as agreed between the parties. On 28 February 2022, Sunsole has allotted 26% of its paid-up equity share capital to the Company as first tranche allotment for a consideration of Rs. 2.7 million. The Company has accounted for the investment as per Equity Method under IND AS 28 'Investments in Associates and Joint Ventures'.

• 3 During the previous year, on 1 March 2021, the Company acquired 99.22% equity share capital of C&S Electric Limited from its promoters for a preliminary sale share consideration of Rs. 21,588 million, payable in cash, on cash free/debt free basis on terms and conditions that are mutually agreed between the parties to the transaction. Considering post Closing amendments to the Share Purchase Agreement, the investment value is Rs. 21,637 million.

4 During the previous year, the operations for the quarter and nine months ended 30 June 2021 and year ended 30 September 2021 were impacted due to the second wave of COVID-19. The expenses incurred in respect of continuing operations were as under:

expenses incurred in respect of continuing operations were as under:
	(Rs. in million)
Particulars Employee benefits expense Depreciation and amortisation expense Other expenses Total	Quarter ended Nine months ended Year ended 30 June 2021 30 June 2021 30 September 2021 164 164 164 23 23 23 64 64 64 251 251 251

The total expenses incurred in respect of discontinued operations were Rs. 11 million.

5 During the previous year, on 1 January 2021, the Company divested its Mechanical Drives (MD) business to Flender Drives Private Limited for a final consideration of Rs. 3,759 million. The gain on the sale transaction for the nine months ended 30 June 2021 and year ended 30 September 2021 was Rs. 487 million. The tax expense on this transaction for the nine months ended 30 June 2021 and year ended 30 September 2021 was Rs. 362 million (including write-off of deferred tax assets of Rs. 302 million).

The results of the MD business included in the above financial results and segment results, disclosed as discontinued operations, are as follows:

	(Rs. in million) Nine months Year ended 30 June 2021 30 September 2021 1,414 1,414 1,042 1,042 372 372 487 487 456 456 403 403
Total income Total expenses Profit before tax from discontinued operations Gain from sale of discontinued operations Tax expense on discontinued operations / divestment Profit after tax from discontinued operations Particulars

• 6 The above Standalone financial results were reviewed and approved by the Audit Committee and Board of Directors at their meetings held on 2 August 2022.

For Siemens Limited SUNIL DASS Digitally signed by SUNIL DASS MATHUR MATHUR Date: 2022.08.02 19:04:26 +05'30'

Sunil Mathur Managing Director and Chief Executive Officer

Place : Munich, Germany Date : 2 August 2022

Siemens Limited

Registered office : Birla Aurora, Level 21, Plot No. 1080, Dr. Annie Besant Road, Worli, Mumbai - 400030 Corporate Identity Number: L28920MH1957PLC010839 Tel.: +91 22 6251 7000; Fax: +91 22 2436 2404 Email / Contact : Corporate-Secretariat.in@siemens.com / www.siemens.co.in/contact Website: www.siemens.co.in

B S R & Co. LLP

Chartered Accountants

14th Floor, Central B Wing and North C Wing, Telephone: +91 22 6257 1000 Nesco IT Park 4, Nesco Center, Fax: +91 22 6257 1010 Western Express Highway, Goregaon (East), Mumbai - 400 063, India

Limited Review Report on unaudited consolidated financial results of Siemens Limited for the quarter ended 30 June 2022 and year-to-date results for the period from 1 October 2021 to 30 June 2022 pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To the Board of Directors of Siemens Limited

1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Siemens Limited (“the Parent”), and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”) and its share of the net loss after tax and total comprehensive loss of its associate for the quarter ended 30 June 2022 and year-to-date results for the period from 1 October 2021 to 30 June 2022 (“the Statement”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “ Interim Financial Reporting ” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of the following entities:

Sr. No.	Name of component	Relationship
1	Siemens Rail Automation Private Limited	Wholly owned subsidiary
2	C&S Electric Limited	Subsidiary (w.e.f. 1 March 2021)
3	Sunsole Renewables Private Limited	Associate (w.e.f. 28 February 2022)

Registered Office: 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063

B S R & Co. (a partnership firm with Registration No. BA61223) converted into B S R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013

B S R & Co. LLP

1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review report of the other auditor referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. We did not review the interim financial results of one subsidiary included in the Statement, whose interim financial results reflect total revenues (before consolidation adjustments) of Rs. 338.54 million and Rs. 1,022.07 million, total net profit after tax (before consolidation adjustments) of Rs. 99.87 million and Rs. 283.47 million and total comprehensive income (before consolidation adjustments) of Rs. 99.87 million and Rs. 283.47 million, for the quarter ended 30 June 2022 and for the period from 1 October 2021 to 30 June 2022 respectively, as considered in the unaudited consolidated financial results. These interim financial results have been reviewed by other auditor whose report has been furnished to us by the Parent’s management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the report of the other auditor and the procedures performed by us as stated in paragraph 3 above.

Our conclusion is not modified in respect of this matter.

1. The Statement also includes the Group’s share of net loss after tax of Rs. 0.08 million and Rs. 0.09 million and total comprehensive loss of Rs. 0.08 million and Rs. 0.09 million, for the quarter ended 30 June 2022 and for the period from 1 October 2021 to 30 June 2022 respectively, as considered in the unaudited consolidated financial results, in respect of one associate, based on its interim financial information which has not been reviewed. According to the information and explanations given to us by the management, this interim financial information is not material to the Group.

Our conclusion is not modified in respect of this matter.

For B S R & Co. LLP

Chartered Accountants

Firm’s Registration No.:101248W/W-100022

FARHAD Digitally signed by FARHAD HOSHEDER HOSHEDER BAMJI Date: 2022.08.02 19:30:38 BAMJI +05'30'

Farhad Bamji

Partner

Mumbai 02 August 2022

Membership No.: 105234 UDIN:22105234AOCCAE6867

SIEMENS

Statement of Consolidated unaudited financial results for the quarter and nine months ended 30 June 2022

1 Revenue from operations a) Revenue from contracts with customers b) Other operating revenue Total revenue from operations (a+b) 2 Other income 3 Total income 4 Expenses a) Cost of materials consumed b) Purchases of stock-in-trade c) Changes in inventories of finished goods, work-in-progress and stock-in-trade d) Project bought outs and other direct costs e) Employee benefits expense (refer note 4) f) Finance costs g) Depreciation and amortisation expense (refer note 4) h) Other expenses, net (refer note 4) Total expenses 5 Profit before share of profit/(loss) of associate (3-4) 6 Share of profit/(loss) of associate/Joint Venture (refer note 3) 7 Profit before tax from continuing operations (5+6) 8 Tax expense a) Current tax b) Deferred tax expense / (credit) 9 Net Profit after tax for the period from continuing operations (7-8) Discontinued operations (refer note 2 & 5) Profit/(loss) before tax from discontinued operations Gain from sale of discontinued operations Tax expense / (credit) on discontinued operations / divestment 10 Profit /(loss) after tax for the period from discontinued operations 11 Profit for the Period (9+10) 12 Other comprehensive income / (loss) a) Items that will not be reclassified to profit or loss Re-measurement of defined benefit plans, net Income tax effect b) Items that will be reclassified to profit or loss Fair value changes on derivative designated as cash flow hedges, net Income tax effect Total other comprehensive income / (loss) 13 Total comprehensive income (including other comprehensive income/(loss)) [11+12] Profit for the period attributable to: - Owners of the Company - Non controlling interest Other comprehensive income / (loss) attributable to: - Owners of the Company - Non controlling interest Total comprehensive income (including other comprehensive income/(loss))attributable to: - Owners of the Company - Non controlling interest 14 Paid-up equity share capital (Face Value of equity shares : Rs. 2 each fully paid up) 15 Reserves (excluding revaluation reserve) as shown in the Audited Balance sheet of the previous year 16 Earnings Per Share (EPS) of Rs. 2 each (in Rupees) - Basic and diluted EPS from continuing operations - Basic and diluted EPS from discontinued operations - Basic and diluted EPS from Total operations not annualised except year end EPS No. Particulars

(Rs. in million) Year ended 30 June 31 March 30 June 30 June 30 June 30 September 2022 (Unaudited) 2022 (Unaudited) 2021 (Unaudited) (Refer note 1) 2022 (Unaudited) 2021 (Unaudited) (Refer note 1) 2021 (Audited) (Refer note 1) 41,980 37,381 27,886 113,097 88,800 129,946 603 630 504 1,710 1,449 2,039 42,583 38,011 28,390 114,807 90,249 131,985 787 668 500 2,050 1,642 2,264 43,370 38,679 28,890 116,857 91,891 134,249 8,440 10,732 6,593 26,653 18,256 28,890 12,619 10,065 9,484 34,174 28,512 36,726 632 (2,090) (2,433) (2,925) (4,585) (3,016) 7,186 7,022 5,186 20,100 18,706 27,241 4,454 4,297 4,271 13,276 11,842 16,411 44 128 80 231 173 243 787 788 839 2,373 2,125 2,974 5,130 3,291 2,908 11,115 7,087 10,853 39,292 34,233 26,928 104,997 82,116 120,322 4,078 4,446 1,962 11,860 9,775 13,927 - - - 4,078 4,446 1,962 11,860 9,775 13,927 1,218 1,055 640 3,170 2,697 3,816 (165) 93 (76) (112) (58) (187) 1,053 1,148 564 3,058 2,639 3,629 3,025 3,298 1,398 8,802 7,136 10,298 (24) 136 27 141 574 623 - - - - 487 487 (6) 34 7 36 509 520 (18) 102 20 105 552 590 3,007 3,400 1,418 8,907 7,688 10,888 231 (329) - (71) 140 367 (58) 83 - 18 (35) (92) 102 (22) (73) 100 97 (5) (26) 6 19 (25) (24) 1 249 (262) (54) 22 178 271 3,256 3,138 1,364 8,929 7,866 11,159 3,007 3,400 1,418 8,906 7,687 10,887 - 1 1 1 249 (262) (54) 22 178 271 - - - - 3,256 3,138 1,364 8,928 7,865 11,158 - 1 1 1 712 712 712 712 712 712 - - - - - 102,892 8.49 9.26 3.92 24.72 20.04 28.92 (0.05) 0.29 0.06 0.30 1.55 1.65 8.44 9.55 3.98 25.02 21.59 30.57 Quarter ended Nine months ended*

• denotes figures less than a million

SIEMENS

Segmentwise Revenue, Results, Assets & Liabilities for the quarter and nine months ended 30 June 2022

1. Segment Revenue Energy Smart Infrastructure Mobility Digital Industries Others Less : Inter segment revenue Total revenue from operations Discontinued operation (refer note 2 & 5) 2. Segment Results Energy Smart Infrastructure Mobility Digital Industries Others Profit from continuing operations Add : a) Other Income Less : a) Finance costs Profit before tax from continuing operations Profit / (Loss) before tax from discontinued operations (refer note 2 & 5) Gain from sale of discontinued operations (refer note 5) 3. Segment Assets Energy Smart Infrastructure Mobility Digital Industries Others Unallocated (including cash and bank balances) Asset classified as held for sale (refer note 2) Total Assets 4. Segment Liabilities Energy Smart Infrastructure Mobility Digital Industries Others Unallocated Liabilities classified as held for sale (refer note 2) Total Liabilities

30 June 31 March 30 June 30 June 30 June 2022 (Unaudited) 2022 (Unaudited) 2021 (Unaudited) (Refer Note 1) 2022 (Unaudited) 2021 (Unaudited) (Refer Note 1) 2021 (Audited) (Refer Note 1) 14,544 11,958 9,549 37,394 31,631 47,341 15,060 14,895 10,717 42,830 31,040 46,308 3,911 2,951 1,441 9,868 6,134 9,250 9,962 8,739 6,838 26,611 22,454 30,293 184 292 216 638 693 1,033 43,661 38,835 28,761 117,341 91,952 134,225 1,078 824 371 2,534 1,703 2,240 42,583 38,011 28,390 114,807 90,249 131,985 1,411 1,536 952 4,243 4,596 5,821 1,243 1,623 765 4,098 3,846 5,918 1,072 899 205 2,559 1,818 2,524 183 366 238 853 756 1,120 828 992 315 2,486 1,803 2,330 9 26 19 45 83 14 3,335 3,906 1,542 10,041 8,306 11,906 787 668 500 2,050 1,642 2,264 44 128 80 231 173 243 4,078 4,446 1,962 11,860 9,775 13,927 (24) 136 27 141 574 623 - - - - 487 487 41,150 41,019 40,173 41,150 40,173 38,500 49,186 48,296 47,709 49,186 47,709 47,631 14,807 13,641 11,526 14,807 11,526 11,239 11,498 10,676 9,401 11,498 9,401 8,263 2,634 2,597 1,983 2,634 1,983 2,367 70,083 67,878 59,502 70,083 59,502 69,948 2,348 2,372 2,143 2,348 2,143 2,354 191,706 186,479 172,437 191,706 172,437 180,302 29,930 29,668 27,066 29,930 27,066 28,402 23,708 22,958 22,328 23,708 22,328 23,758 9,956 9,503 6,775 9,956 6,775 7,525 10,058 9,094 9,215 10,058 9,215 7,948 1,527 1,359 709 1,527 709 1,058 5,474 5,534 4,171 5,474 4,171 5,864 1,428 2,013 1,694 1,428 1,694 2,068 82,081 80,129 71,958 82,081 71,958 76,623 30 September (Rs. in million) Consolidated Quarter ended Nine months ended Year ended

Notes :

1

On 1 March 2021, Siemens Limited ("The Holding Company") acquired 99.22% equity share capital of C&S Electric Limited from its promoters for a preliminary sale share consideration of Rs. 21,588 million, payable in cash, on cash free/debt free basis on terms and conditions that are mutually agreed between the parties to the transaction.

The fair value of assets and liabilities acquired have been determined in accordance with IND AS 103 'Business Combinations'. The purchase price has been allocated to the assets acquired and liabilities assumed based on the estimated fair values at the date of acquisition. The excess of the purchase price over the fair value of the net assets acquired has been allocated to goodwill. The Group has completed the purchase price allocation during the quarter ended 31 March 2022.

The comparative figures have been restated wherever necessary.

The fair value of net identifiable assets acquired has been finalised at Rs. 9,640 million, net of deferred tax impact after measurement period adjustments due to revision in fair valuation of intangible and tangible assets, financial assets, contingent liabilities and inventories on refinement in key assumptions and valuation methods. As a result, goodwill is Rs.12,072 million.

Details of amounts paid and payable, including allocation based on Purchase Price Accounting in accordance with Ind AS 103 are summarised below:

==> picture [535 x 108] intentionally omitted <==

----- Start of picture text -----

(Rs. in million)
As at
Particulars
31 March 2022
Purchase consideration 21,588
Add/ (Less): Purchase price adjustments 49
Less: Fair Value of Net identifiable assets acquired:
Property plant and equipment and right of use assets 2,936
Capital work in progress 47
Other Intangible assets and intangible assets under development 6,833
Provisions (939)
Other assets and liabilities (net) 763
Total fair value of net identifiable assets acquired 9,640
Non-controlling interest 75
Goodwill 12,072
----- End of picture text -----

2

The Board of Directors at its meeting held on 27 May 2022, approved the sale and transfer of the Holding Company's Large Drives Applications (LDA) business (Portfolio Companies Segment) to Siemens Large Drives India Private Limited (a subsidiary of Siemens Large Drives GmbH, which in turn is a subsidiary of Siemens AG), as a going concern on a slump sale basis, with effect from 1 July 2022, for a cash consideration of Rs. 4,400 million. The said transaction is subject to receipt of requisite statutory and regulatory approvals, as applicable. Subsequently, the LDA business has been sold and transferred by the Holding Company to Siemens Large Drives India Private Limited on 1 July 2022.

The results of LDA business included in the above financial results and segment results, disclosed as discontinued operations, are as follows:

Total income Total expenses Profit/(loss) before tax from discontinued operations Tax expense / (credit) on discontinued operations Profit/(loss) after tax from discontinued operations Particulars	(Rs. in million) Year Ended 30 June 2022 31 March 2022 30 June 2021 30 June 2022 30 June 2021 30 September 2021 1,411 1,536 952 4,243 3,183 4,408 1,435 1,400 925 4,102 2,981 4,157 (24) 136 27 141 202 251 (6) 34 7 36 53 64 (18) 102 20 105 149 187 Quarter Ended Nine months ended

3

4

The Holding Company has executed a Power Purchase Agreement and entered into a Share Subscription and Shareholders Agreement on 22 October 2021, for the subscription of 26% of the paidup equity share capital of Sunsole Renewables Private Limited (Sunsole), subject to fulfilment of conditions precedent as agreed between the parties. On 28 February 2022, Sunsole has allotted 26% of its paid-up equity share capital to the Holding Company as first tranche allotment for a consideration of Rs. 2.7 million. The Holding Company has accounted for the investment as per Equity Method under IND AS 28 'Investments in Associates and Joint Ventures'.

During the previous year, the operations for the quarter and nine months ended 30 June 2021 and year ended 30 September 2021 were impacted due to the second wave of COVID-19. The expenses incurred in respect of continuing operations were as under:

expenses incurred in respect of continuing operations were as under:
	(Rs. in million) Quarter ended Nine months ended Year ended 30 June 2021 30 June 2021 30 September 2021 164 164 164 23 23 23 6464 64 251 251 251
Particulars Employee benefits expense Depreciation and amortisation expense Other expenses Total

The total expenses incurred in respect of discontinued operations were Rs. 11 million.

5

During the previous year, on 1 January 2021, the Holding Company divested its Mechanical Drives (MD) business to Flender Drives Private Limited for a final consideration of Rs. 3,759 million. The gain on the sale transaction for the nine months ended 30 June 2021 and year ended 30 September 2021 was Rs. 487 million. The tax expense on this transaction for the nine months ended 30 June 2021 and year ended 30 September 2021 was Rs. 362 million (including write-off of deferred tax assets of Rs. 302 million).

The results of the MD business included in the above financial results and segment results, disclosed as discontinued operations, are as follows:

Total income Total expenses Profit before tax from discontinued operations Gain from sale of discontinued operations Tax expense / (credit) on discontinued operations / divestment Profit after tax from discontinued operations Particulars	(Rs. in million) Nine months ended Year ended 30 June 2021 30 September 2021 1,414 1,414 1,042 1,042 372 372 487 487 456 456 403 403

• 6

The above Consolidated financial results were reviewed and approved by the Audit Committee and Board of Directors at their meetings held on 2 August 2022.

For Siemens Limited SUNIL DASS Digitally signed by SUNIL DASS MATHUR MATHUR Date: 2022.08.02 19:05:20 +05'30'

Place : Munich, Germany Date : 2 August 2022

Sunil Mathur

Managing Director and Chief Executive Officer

Siemens Limited

Registered office : Birla Aurora, Level 21, Plot No. 1080, Dr. Annie Besant Road, Worli, Mumbai - 400030 Corporate Identity Number: L28920MH1957PLC010839 Tel.: +91 22 6251 7000; Fax: +91 22 2436 2404 Email / Contact : Corporate-Secretariat.in@siemens.com / www.siemens.co.in/contact Website: www.siemens.co.in

Press

Mumbai, August 02, 2022

Siemens Limited announces Q3 FY 2022 results; 51% increase in Revenue and 85% increase in Profit after Tax from continuing operations

For the third quarter of Financial Year 2022 ended June 30, 2022, Siemens Limited registered a Revenue from continuing operations of Rs. 3,865 crore, a 51% increase over the same quarter in the preceding year. New Orders from continuing operations stood at Rs. 4,992 crore, registering a 20% increase over the same period last year. The Company’s Order Backlog from continuing operations stands at an all-time high at Rs. 17,856 crore. Profit after Tax from continuing operations of Rs. 296 crore, increased by 85% over the same period last year.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “The strong performance was across all our businesses and included a significant order in our Mobility business. While we are currently not experiencing a slowing down in Public and Private Capex spending, we are concerned about global headwinds impacting demand which could result in a slowdown in Capex spending.”

Contact for journalists:

Siemens Limited, Media Relations Praneet Mendon / Bijesh Kamath, phone: +91 22 6251 7000 E-mail: praneet.mendon@siemens.com / bijesh.kamath@siemens.com Follow Siemens India on Twitter: www.twitter.com/siemensindia

Siemens Limited Birla Aurora, Level 21, Plot No. 1080, Dr. Annie Besant Road, Worli, Mumbai – 400030 , India Tel. : (022) 6251 7000 Head, Communications: Ramya Rajagopalan Corporate Identity Number: L28920MH1957PLC010839 Reference number: CM/PR/4/CORP 08 2022

Siemens Limited is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for people. Siemens Limited is the flagship listed company of Siemens AG in India. As of September 30, 2021, Siemens Limited had Revenue from continuing operations of INR 12,756 crore and 8,608 employees. Further information is available on the Internet at www.siemens.co.in.

Forward-looking statements : “This document contains forward-looking statements based on beliefs of Siemens' management. The words 'anticipate', ‘believe’, ‘estimate’, ‘forecast’, ‘expect’, ‘intend’, ‘plan’, ‘should’, and ‘project’ are used to identify forward looking statements. Such statements reflect the company's current views with respect to the future events and are subject to risks and uncertainties. Many factors could cause the actual result to be materially different, including, amongst others, changes in the general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services, and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend to assume any obligation to update these forward-looking statements.”