Siemens Ltd. — Investor Presentation 2021

Jun 1, 2021

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1[st] June, 2021

National Stock Exchange of India Limited BSE Limited

– Scrip Code

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

Analysts / Institutional Investors Meet - Presentation

Dear Sir / Madam,

Pursuant to Regulation 30, 46 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed presentation made at Analysts / Institutional Investors Meet held on 1[st] June, 2021.

The presentation made at the said Meet is also being uploaded on the website of the Company at: www.siemens.co.in/investorcommunity.

Kindly take the above information on record.

Yours faithfully,

For Siemens Limited KETAN Digitally signed by KETAN NANDKISHOR NANDKISHOR THAKER Date: 2021.06.01 12:28:12 THAKER +05'30'

Ketan Thaker Company Secretary

Encl.: a/a

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 62517000. 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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Siemens Ltd. H1 FY 2021 | Analyst Call Sunil Mathur, Managing Director and CEO Daniel Spindler, Executive Director and CFO 1[st] June 2021

Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Disclaimer

This presentation has been prepared solely for use at the investor/analyst presentation. By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations:

a) Siemens Ltd. (“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 forwardlooking 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 advisors must be sought on specific situation from well-informed legal, investment, tax, financial, and management professionals;

e) This presentation and its contents are confidential and must not be distributed, published or reproduced. This presentation does not constitute a recommendation regarding the securities of the Company.

f) This Analyst Meet is being recorded and the presentation, audio recording and transcript will be submitted to stock exchanges and also hosted on our website.

Page 2 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Agenda

Business highlights Financial highlights Outlook

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Page 3

India’s 2[nd] Covid-19 wave will have an impact on recovering economy

Macroeconomic overview

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Business operations

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• Indian economy had started to rebound | Improvement was seen across most high frequency indicators

• Opportunity pipeline stays healthy – no project cancellations so far, some finalization delays

• Localized lockdowns impacting supply chains | Government spending slows

• Business continuity maintained – Factories and project sites largely operational | White-collar employees WFH

• Difficult to estimate at this point impact of 2[nd] wave on the Indian economy

• Focus on Health and Safety – Proactive Interventions started | Scarce medical resources arranged

• Shortage of semiconductors and rising global commodity prices impacting costs

• C&S Electric acquisition completed on 1[st] Mar'21 | Focus on addressing local demand and creating an export hub

Page 4 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Highlights of major orders won in H1 FY 2021

STATCOM 400/220kV at Bikaner II

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Quality power evacuation from 8GW Solar Energy Zones in Rajasthan

Eastern Dedicated Freight Corridor High-end communication and signaling technology for 402 km section

1) 16.3 MW WHR in Cement plant

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Promotes Decarbonization , EPC integration for Turbine and Distributed Controls

Tariff Based Competitive Bidding project 400/220kV GIS substation in Gujarat and 132kV AIS substation in Assam

Rayalaseema Lift Irrigation

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VSI[2)] based drives lifting water to height of ~40 meters

New Parliament Building project

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Power distribution, Fire safety, Building mgmt. , Video surveillance and Access control

1) Waste Heat Recovery 2) Voltage Source Inverter Page 5 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Strong focus on technology leadership to strengthen market position

Partnership with Ola Electric for world's largest E-Vehicle facility

Signed MoU with Switch Mobility for E-Mobility solutions

Strengthened competitiveness via localization of Vacuum Interrupter

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Industry 4.0 roadmap and "Factory of Future" concept for world's largest greenfield electric scooters manufacturing facility (Capacity of 2 – 5 Mn units/year)

Charging infrastructure technology and Enhanced Medium Voltage Switchgear software by Siemens; Adopting new competitiveness by localizing the business model – eMaaS (eMobility-as-aproduction of key component – Vacuum Service) Interrupter

Page 6 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Replicable and Scalable digitalization successes – ready to support India Inc.

Select digitalization successes

Paints – OT Cyber Security

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F&B – Value chain digitalization

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Pharma – API process simulation

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Industrial anomaly and continuous threat detection as holistic cybersecurity solution

Buildings – Smart Lighting

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Improved energy efficiency by IOT and cloud based smart lighting solution

5% throughput uplift, 7% reduction in production cost per MT with digitally integrated operations Manufacturing – Layout Optimization

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Achieved 30% space reduction, 10% operational efficiency by modelling & simulation solutions

Reduction in time to market by modelling and simulating APIs using Siemens' gPROMS solution

Industries – Remote Power Management

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Enhanced OEE[2)] by Siemens' Power Manager solution for remote energy monitoring

1) End to End 2) Overall Equipment Effectiveness Page 7 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Agenda

Business highlights Financial highlights Outlook

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Page 8

Strong business performance continues in Q2 FY 21 (Continuing Operations)1)

New Orders (y-o-y)

+16.9% Profit before Tax (% of revenue) +13.1%

Revenue Profit from (y-o-y) (% of revenue) Operations +29.6% +11.6% Profit after Tax Earnings per Share (% of revenue) (in INR) +9.6% 8.87

1) Continuing Operations without Mechanical Drives business Page 9 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Strong half-year performance in FY 21 across all businesses drives profitable growth (Continuing Operations)1)

New Orders (y-o-y)

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+13.0%

Profit before Tax (% of revenue) +12.8%

Revenue Profit from (y-o-y) (% of revenue) Operations +22.9% +11.1% Profit after Tax Cash from (% of revenue) (in billion INR)in billion INR) Operations +9.4% 9.4

Cash from (in billion INR)in billion INR) Operations 9.4

1) Continuing Operations without Mechanical Drives business Page 10 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Double-digit order growth in Q2 FY 21 (Continuing Operations)1)

+16.9% +8.7% +9.3% +11.9% -19.0% -7.4% -17.8% -39.0% 32.2 32.1 33.1 29.0 29.6 29.3 28.3 17.7 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 FY 19 FY 19 FY 20 FY 20 FY 20 FY 20 FY 21 FY 21

figures in billion INR % y-o-y development

New Orders:

• Ongoing recovery in key markets with strength in short cycles

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• Strong order backlog maintained

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• Growth in projects backed by short-cycle business

Lockdown

Apr - Sep Oct - Sep

Oct - Mar

1) Continuing Operations without Mechanical Drives business Page 11 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Strong revenue growth continues through H1 FY 21 (Continuing Operations)1)

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+2.5%
-9.2%
+29.6%
+2.0%
+15.9%
-23.1%
-6.5%
37.7
-60.8% 34.2
33.0
29.3 28.6
24.7 25.4
11.5
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
FY 19 FY 19 FY 20 FY 20 FY 20 FY 20 FY 21 FY 21
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figures in billion INR % y-o-y development

Revenue:

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• Stringent order backlog execution

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• Book-to-bill trends towards growth: 1.06

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• Broad based growth across businesses

Lockdown

Apr - Sep Oct - Sep

Oct - Mar

1) Continuing Operations without Mechanical Drives business Page 12 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Consistent profitability above 10% over last three quarters (Continuing Operations)1)

figures in billion INR % y-o-y development

Profit from Operations: +10.0% +11.4% +11.6% • +10.9% Stringent conversion on +10.5% strong revenue growth +10.7% despite pandemic restraints • +3.8 +6.0% +3.9 +3.8 Bundle of cost control +3.2 +2.6 +3.0 measures, discretionary spending on low level +1.5 - 5.9% • FX and commodity gains -0.7 • Headwinds from supply Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 chain disruptions (e.g. FY 19 FY 19 FY 20 FY 20 FY 20 FY 20 FY 21 FY 21

• Stringent conversion on strong revenue growth despite pandemic restraints

• Bundle of cost control measures, discretionary spending on low level

• FX and commodity gains

• Headwinds from supply chain disruptions (e.g. semiconductors), higher logistics costs, lower export incentives

Lockdown

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Apr - Sep

Oct - Sep

Oct - Mar

1) Continuing Operations without Mechanical Drives business Page 13 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Business portfolio mix

(Continuing Operations)1)

% of revenue Government & Private

Sales Mix Export & Domestic Government & Private Project Export Government Product Domestic Private 20.4% 21.8% 23.1% 17.1% 35.5% 32.2% 79.6% 78.2% 76.9% 82.9% 64.5% 67.8% H1 FY 20 H1 FY 21 H1 FY 20 H1 FY 21 H1 FY 20 H1 FY 21

• Growth in short-cycle product business (SI/ DI)

• Marginal increase in export business

• Growth primarily with private customers

1) Continuing Operations without Mechanical Drives business Page 14 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Energy (SE): Continuing strength in Energy business with substantial improvement in profit

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New Orders
+8%
23.1
21.4
H1 FY 20 H1 FY 21
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Revenue
+16%
21.7
18.7
H1 FY 20 H1 FY 21
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figures in billion INR
Profit from Operations (% of rev.)
+65%
3.1
1.9
+14.2%
+10.0%
H1 FY 20 H1 FY 21
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• Growth contribution from generation and service business

• Major orders from private and government customers

• Execution of strong order backlog

• Growth compared to H1 FY 20 also due to lower base effect

• Solid operational execution

• • FX and commodity gains in H1 FY 21

Page 15 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Smart Infrastructure (SI): Top line returning to pre-Covid levels with underlying margin increases

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figures in billion INR
New Orders Revenue Profit from Operations (% of rev.)
+1%
+30% +110%
19.4 19.6
18.4 1.6
14.2
0.8
+8.8%
+5.4%
H1 FY 20 H1 FY 21 H1 FY 20 H1 FY 21 H1 FY 20 H1 FY 21
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• Robust growth in base business

• Higher base due to major order in H1 FY 20

• Strong growth in Digital Grid, Distribution Systems and Electrical Products

• Profitability returned to preCovid levels

• Cost control measures lead to sustainable savings

• Products and systems up

Page 16 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Digital Industries (DI): Broad-based volume surge across main verticals

figures in billion INR

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New Orders Revenue
+36% +38%
15.4 15.0
11.3 10.9
H1 FY 20 H1 FY 21 H1 FY 20 H1 FY 21
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• Growth results from higher customer offtake

• High customer demand (mainly in first quarter)

• Revenue growth from higher order intake in H1 FY 21

• Pharma, F&B, intralogistics, machine tools growing

Profit from Operations (% of rev.)

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+67%
1.5
0.9
+9.9%
+8.2%
H1 FY 20 H1 FY 21
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• Cost control measures

• Productivity gains out of strong growth momentum

Page 17 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Mobility (MO): Solid performance however revenue decline due to lower demand

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New Orders
+10%
4.1
3.8
H1 FY 20 H1 FY 21
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Revenue
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-6%
4.5
4.2
H1 FY 20 H1 FY 21
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figures in billion INR Profit from Operations (% of rev.)

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-20%
0.5
0.4
+11.4%
+9.7%
H1 FY 20 H1 FY 21
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• Major order in H1 FY 21

• Pandemic related shifts in key tenders/ bids

• Lower demand in passenger locomotive components

• Rail infrastructure with positive momentum

• Profit margins affected by unfavorable revenue mix

• Structural improvements ongoing

Page 18 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Focus areas

• Drive profitable growth

• Operational efficiency

• Maintain strong cash conversion

• Closing of C&S transaction

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Agenda

Business highlights Financial highlights Outlook

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Page 20

Public and private sector CAPEX drivers continue to be in place

Select sectors outlook

Energy (SE)

Infrastructure (SI)

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Generation

Transmission

WHR[1)] driving demand in ➔ select industries

TBCB/GEC[2)] tenders being finalized | AIS to GIS conversions

Buildings ➔

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E-Charging

Growth in Data Centers, Hospitals, E-commerce

FAME[3)] program providing demand boost

Industries (DI)

Mobility (MO)

PLI[4)] and Scrappage policy to Auto ➔ provide thrust in medium/long term Increasing industry focus on Pharma automation and digitalization

New DFCs[5)] addition and Railways 100% electrification target Metro Central boost for Metro rail

1) Waste Heat Recovery 2) Green Energy Corridor 3) Faster Adoption and Manufacturing of Electric Vehicles 4) Production Linked Incentive 5) Dedicated Freight Corridor Page 21 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call ➔ Trend for next 2/3 quarters

Siemens continues to perform in evolving Covid-19 situation

1

Impact of pandemic on economy difficult to estimate at this point 2 Public and private capex drivers in place – Finalization of projects may be delayed

3

4

Continued thrust on technology leadership to strengthen market position Focus on Profitable growth | Health and Safety of employees first!

Page 22 Unrestricted | © Siemens 2021 | 2021-06-01 | H1 FY 2021 Analyst Call

Thank you

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Q A
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