Siemens Ltd. — Investor Presentation 2021

Dec 3, 2021

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3[rd] December, 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 3[rd] December, 2021.

The presentation made at the said Meet is also being uploaded on the website of the Company at: https://new.siemens.com/in/en/company/investor-relations/analyst-meet.html.

Kindly take the above information on record.

Yours faithfully,

For Siemens Limited

KETAN Digitally signed by KETANNANDKISHOR THAKER NANDKISHOR DN: cn=KETAN NANDKISHORTHAKER, c=IN, o=Personal, THAKER email=ketan.thaker@siemens.comDate: 2021.12.03 12:55:03 +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.

Siemens Ltd. Q4 FY 2021 Analyst call Sunil Mathur, Managing Director and CEO Daniel Spindler, Executive Director and CFO December 3[rd] , 2021

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 must not be distributed, published or reproduced. This presentation does not constitute a recommendation regarding the securities of the Company.

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Agenda

Business highlights Financial highlights Outlook

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Economy demonstrated resilience despite strong 2[nd ] Covid wave

Macroeconomic Overview

Most high-frequency indicators at pre-covid levels

Verticals Performance in FY-21

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Automotive

Pharma

• Strong boost in Central Government capex | Focus on infrastructure development

• State Government capex still to revive

Power T&D

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Buildings

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• Uptick in Private Sector capex

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Covid fast-tracked adoption of Digitalization

Supply chain shortages, high logistics costs, rising commodity prices and Covid-19 still a cause of concern

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Steel & Cement F&B

Railways Metro

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Strong double digit growth in all our businesses

FY-21 Growth drivers

Energy

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Digital Industries

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19%

• Industrial Captive Power, WHR[1)]

• TBCB, STATCOM orders

• Modernization and Upgrades for turbines

52%

• Automation and Digitalization in Electronics, Infra, F&B, Steel, Cement, Pharma, Intralogistics

Smart Infrastructure

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Mobility

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24%

• Projects in Solar, Tunnel and Industrial space

• Power Distribution substations

• Data Center, Energy Efficiency in commercial complexes

63%

• Major DFCC order

• • Mainline and Metro Electrification projects

• Repeat AMC[2)] orders

• 1) Waste Heat Recovery 2) Annual Maintenance Contracts

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Highlights of key orders won

Key orders in H2-FY22 – examples

STATCOM projects in Rajasthan

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World's largest STATCOM projects for RE integration

Turbine modernization & upgrade

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Upgrade controls, fire & gas system, vibration monitoring for 18x turbines in O&G industry

Electrification of Railways

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Partnering with Indian Railways to decarbonize mainline operations

AMC for EMU, Central Railways

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Reliable services led to repeat EMU maintenance contract for Central Railways

E&A[1)] for Cement plants & Grinding Unit

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Capacity expansion projects for one of largest cement producer in India

Power equipment solutions, Data Center

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High and Medium voltage power equipment and integration solution for Data Center project

1) Waste Heat Recovery 2) Voltage Source Inverter Page 6 Unrestricted | © Siemens 2021 | 2021-12-03 | FY 2021 Analyst Call

Momentum in Digitalization adoption across sectors

Digitalization success – examples

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Auto – Paint shop analytics
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Operational transparency, Data analytics to improve production efficiency by >15%

Steel – Digital Logistics

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Improve Turn-Around-Time by integrating the logistics ecosystem with its Digital twin

Energy Distribution – Smart metering

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Meter data management software connecting smart meters and reduce AT&C losses

Ports – EEA[3)] and crane hybridization

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RE Integration and Energy Optimization for one of the busiest container terminals in India

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Electronics – Quality improvement
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MES[1) ] and QMS[2) ] for improved planning, resource allocation, quality and production

Chemical – Remote diagnostic services

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Predictive maintenance led to a reduction in risk of unplanned outages of powertrain

1) Management Execution System 2) Quality Management System 3) Energy Efficiency Analytics Page 7 Unrestricted | © Siemens 2021 | 2021-12-03 | FY 2021 Analyst Call

Scalable Digitalization offerings making us the partner of choice

Digital offerings – examples

OT Cybersecurity solutions for industry

Hydropower plant – Industrial Edge

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• Projects across Verticals – Paints, Utilities, Steel, Cement, …

• OT assessment (CERT-in), anomaly and threat detection , secured network implementation

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• Industrial Edge order from a leading hydropower plant in Sri Lanka

• Plant efficiency , cost reduction and managing critical KPIs

1)

Sensegear – Digitalize GIS

Clean Drinking water with IOT solution

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• Cloud based solution to monitor and analyze health of critical GIS[1)] assets

• Analytics for predictive and preventive maintenance

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• IOT solution with Analytics for PWD water

• Reducing ~25% wastage , managing peak loads

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1) Gas Insulated Switchgear
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Strengthening our portfolio !

Global Acquisitions

as Combining the real and digital worlds foundation of our high-value growth strategy

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Design-to-Source platform for electronics value chain to develop products faster

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SaaS provider for inventory management, reservation, & ticketing software

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Strong switchgear portfolio for Indian and Global M3 markets (Siemens Ltd. Acquisition)

MoU with Switch Mobility 1[st] Order for e-chargers concluded

Smart Meter Data Management solutions for Tata Power DDL

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Agenda

Business highlights Financial highlights Outlook

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Strong business performance achieved in Q4 FY 21 (Continuing Operations without Mechanical Drives business)

New Orders (y-o-y)

EBITDA (% of revenue)

New Orders Revenue EBITDA (y-o-y) (y-o-y) (% of revenue) +4.9% +15.2% +10.9% Profit before Tax Profit after Tax Earnings per Share (% of revenue) (% of revenue) (in INR) +10.9% +8.2% ₹ 9.07

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FY 21 with sustained performance across all key parameters (Continuing Operations without Mechanical Drives business)

New Orders (y-o-y)

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+32.4%

Profit before Tax (% of revenue) +11.2%

Revenue EBITDA (% of revenue) (y-o-y) +33.1% +11.4% Profit after Tax Cash from (% of revenue) (in billion INR) Operations +8.3% ₹16.8

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New Orders growth backed by several key orders in FY 21

(Continuing Operations without Mechanical Drives business)

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+145.7%
+4.9%
+16.9%
+8.7% +9.3%
-19.0% -7.4%
-17.8%
43.4
-39.0%
32.2 32.1 33.1 33.8
29.6
29.3 28.3
17.7
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
FY 19 FY 20 FY 20 FY 20 FY 20 FY 21 FY 21 FY 21 FY 21
1 [st] wave 2 [nd] wave
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figures in billion INR % y-o-y development

Positive growth in 5 consecutive quarters Despite COVID 2[nd] wave New Orders growth in FY 21 Healthy order backlog of 135.2

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Substantial Revenue growth in FY 21 with strong finish in Q4 FY 21 (Continuing Operations without Mechanical Drives business)

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+15.2%
+2.5%
-9.2%
+29.6%
+15.9%
+131.3%
-6.5% -23.1%
39.4
37.7
34.2
33.0
-60.8% 28.6
26.6
24.7 25.4
11.5
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
FY 19 FY 20 FY 20 FY 20 FY 20 FY 21 FY 21 FY 21 FY 21
1 [st] wave 2 [nd] wave
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figures in billion INR % y-o-y development

Revenue growth in every quarter of FY 21 Stringent order backlog execution Book-to-bill at 1.12 trends towards growth

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EBITDA margin back to double digit after Q3 FY 21 impacted by 2nd wave

(Continuing Operations without Mechanical Drives business)

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figures in billion INR % of revenue

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+13.2% +13.4% +10.9%
+11.4%
+12.6%
+13.0%
+8.6%
+8.6%
+4.3 +4.5 +4.4 +4.3
+3.6
+3.2
+2.2 +2.3
-0.1%
-0.0
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
FY 19 FY 20 FY 20 FY 20 FY 20 FY 21 FY 21 FY 21 FY 21
1 [st] wave 2 [nd] wave
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Operational margin stable

Increased raw material, component & logistics costs offset by effective hedging and pricing Discretionary spending still on low level COVID-care related higher costs Lower export incentives (MEIS/ SEIS)

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EBITDA bridge showing stable operational margin quality (Continuing Operations without Mechanical Drives business)

ng Operations without Mechanical Drives business)
	figures in million INR
Revenue from contracts with customers EBITDA (as reported) Margin (% of revenue) Included: Under absorption Forex and Commodity gains/losses Export Incentives	FY 20	FY 21	Q4 FY 20	Q4 FY 21
	95,808 +9,902 +10.3% -2,847 +91 +761	127,559 +14,595 +11.4% -262 +348 +143	34,223 +4,529 +13.2% -590 +592 +212	39,395 +4,286 +10.9% - -147 -95
Adjusted EBITDA Margin (% of revenue)	+11,897 +12.4%	+14,366 +11.3%	+4,315 +12.6%	+4,527 +11.5%
Packing and forwarding charges	-966	-1,886	-301	-619

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Business portfolio mix

(Continuing Operations without Mechanical Drives business)

Sales Mix Export & Domestic Service Export Project Domestic Product 17.7% 13.9% 22.4% 21.5% 29.0% 31.3% 77.6% 78.5% 57.0% 51.0% FY 20 FY 21 FY 20 FY 21 • • Growth in short cycle product Increase in share of domestic business (SI/ DI) business

• Increase in share of domestic business

% of revenue Government & Private

Government Private 15.7% 25.5% 84.3% 74.5% FY 20 FY 21

• Growth primarily with private customers

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Energy (SE): Continuing strength in Energy business with robust profitability growth

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figures in billion INR
New Orders Revenue EBITDA (% of rev.)
+19% +19% +35%
51.1 46.9 6.7
42.8 39.5
4.9
+14.3%
+12.5%
FY 20 FY 21 FY 20 FY 21 FY 20 FY 21
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• Growth contribution from Transmission, Generation and Service business

• Key orders from private and government customers

• Execution of very strong order backlog

• Strong revenue growth in FY 21 despite COVID related restrictions

• Solid operational execution

• Higher forex gains offsetting lower export incentives

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

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figures in billion INR
New Orders Revenue EBITDA (% of rev.)
+29.5%
+24% +52% +106%
40.4 38.9 3.8
32.5
25.7
1.9
+9.8%
+7.2%
FY 20 FY 21 FY 20 FY 21 FY 20 FY 21
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• Increased off takes by OEMs, strong performance in sectors like Steel, Cement coupled with infra thrust in Data Centers, Railways

• High growth in main sub segments and especially in electrical products

• Cost control measures and operational excellence improved profitability

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

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figures in billion INR
New Orders Revenue EBITDA (% of rev.)
+52% +58% +79%
30.0 29.2 2.6
19.8 18.5
1.4
+8.8%
+7.7%
FY 20 FY 21 FY 20 FY 21 FY 20 FY 21
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• High customer demand across most key sectors like Electronics, Infra, F&B, Steel, Cement, Pharma, Intralogistics

• Healthy Order backlog and focused execution ensured solid Revenue growth

• Maintained price levels offsetting higher input costs and forex losses

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Mobility (MO): Sharp increase in orders while revenue and profitability muted

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figures in billion INR
New Orders Revenue EBITDA (% of rev.)
+63% -2%
-14%
14.2 8.4 8.2 1.1
1.0
8.7
+13.3%
+11.8%
FY 20 FY 21 FY 20 FY 21 FY 20 FY 21
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• Key orders in FY 21 from Railways and Metros

• Revenue decline in Locomotive components

• Lower backlog in electrification & signaling business

• Lower revenue and less favorable mix impacted profitability

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Agenda

Business highlights Financial highlights Outlook

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Long term growth intact | NIP and PLI driving investments

GDP in USD at current prices

National Infrastructure Pipeline

Actual IMF Oct ’21 forecast

• Master plan to drive Infrastructure growth | Major investments from Centre and State governments

3'''3 3'''0 2'''9 2"'7

3'''5

3'''8

• Opportunities in Ports, Airports, Metros, Urban and Rural Infrastructure, Irrigation …

Production Linked Incentive scheme

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• Key driver for capex in private sector

FY20		FY21	FY22	FY23	FY24	FY25
YoY Growth	1)	-7.3%	9.5%	8.5%	6.6%	6.3%

• Plugs the import - export gap | Impetus on local-forlocal and local-for-global

1) Based on GDP in constant INR prices (base year 2011-12)

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Government pushing investments in infrastructure India Inc. focusing on local manufacturing

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Generation

Transmission

Utilities

Railways

Metro

Industrial CPP[1)] driving demand | Investments in clean energy

Renewables to drive grid stability projects and capacity enhancement

Next gen reforms for Discoms | RE integration to drive growth Long term boost by NRP[2) ] 2030 and 100% electrification target Metro projects in multiple cities to drive growth

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Buildings

e-Charging Automotive Pharma F&B

Growth in Data Centers, E-commerce

eV sales growing under FAME[3)] , 3 million charging stations by 2030

PLI, 100% FDI, 30% eV penetration by 2030 to boost investments

PLI push and healthcare focus fuel automation and digitalization solutions Growing local demand to boost capacity enhancement investments

1) Captive Power Plant 2) National Railway Plan 3) Faster adoption and manufacturing of hybrid and electric vehicles Page 24 Unrestricted | © Siemens 2021 | 2021-12-03 | FY 2021 Analyst Call

Our DEGREE Framework sets clear priorities for Sustainability at Siemens

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We support our customers Decarbonize their operations

E-Ferries e.g. Cochin Shipyard

Electric Propulsion and Energy Storage to ensure power continuity while maximizing performance, reducing operational costs and emissions

Energy efficiency e.g. A busy Indian Airport

Chiller plant optimization using AI based patented solution Demand Flow™substantially reducing carbon footprint and energy costs

Waste Heat Recovery e.g. Large Cement producer

Industrial customers utilizing the waste heat making the entire operations efficient while decarbonizing the process

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Siemens Ltd. is well positioned in all verticals for profitable growth !

Energy

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• Industrial Captive Power Generation, WHR[1)] (e.g. Cement, fertilizer, etc.)

• RE integration projects in Transmission

• Power Plant optimizations

• Infrastructure Industry Railway / Metro • • Increased PLI led Capex Electrification and investments Signalling in Railways

• Opportunities from National Infrastructure Pipeline

• Capacity expansion in • Metro projects in multiple

• Industries cities

• Upgradation of Distribution systems by state utilities

• Increased demand for Automation & Digitalization solutions

• e-Charging Infrastructure

Decarbonisation

Ethics

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Governance

R esource efficiency

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E quity

E mployability

1) Waste Heat Recovery

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Thank you

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Q A
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