1

Annual Shareholders‘ Meeting

2

Report to shareholders

Peter Löscher CEO of Siemens AG

3

Ernst von Siemens

in those fields which we consider the main focus of our work”

”...to be world-class

4

Sapsan in Russia

5

Fiscal 2012

Continuing operations in € millions FY 2011 FY 2012 Change

New orders 85,166 76,913 -10%

Revenue 73,275 78,296 +7%

Income from continuing operations 7,376 5,184 -30%

1) Nominal

1)

1)

6

Earnings per share

Impact of sale of VDO 2003-2006: income after taxes (US-GAAP), as of 2007: income from continuing operations (IFRS)

2012 2011 2010 2009 2008

6.4

2007 2006 2005 2004 2003

in € + >80%

2.8 3.8

2.5 3.4

4.2

2.7

4.5

7.0

5.1 6.4

7

Development of dividend and dividend yield

in €

3.00 3.00 2.70

1.60 1.60

2012 2011 2010 2009 2008

+88%

3.6% 2.4% 2.9% 3.9% 3.6% on average > 3%

8

Siemens is the European patent champion

0 10000 20000 30000

9

EBITDA margins in comparison to competitors

Industry

Healthcare

Infrastructure and Cities

11-17%

15-20% 18.5%

8-12%

10-15% Energy

7.5%

14.9%

9.3%

FY 2011 FY 2012 Margin corridor

10

First quarter 2013

Continuing operations in € millions Q1 2012 Q1 2013 Change

New orders 19,792 19,141 -3%

Revenue 17,856 18,128 +2%

Income from continuing operations 1,314 1,295 -1%

Earnings per share (in €) 1.56 1.42 -9%

1) Nominal

1)

1)

11

Vertical IT

2010 2016

60

100

Expansion of portfolio

Development of IT workforce, management 17,500 software engineers

Strategic acquisitions in 2011/12

M&A

Market potential in € billions

12

Strong growth of our Environmental Portfolio

Environmental Portfolio in € billions

Renewable energy and environmental technologies

Energy and resource efficiency

2012 2007

33

17

13

Highly efficient motors

14

Highly efficient gas turbines

15

Highly efficient wind turbines

16

Highly efficient wind turbines

17

Cities – a huge challenge

18

The Crystal

19

Technological transformation of the lighting industry

Lighting today

Light bulb LED lamp

Lighting yesterday

20

Growth market China

Shanghai Pudong

1960

2012

21

MRI scanner Magnetom Essenza

22

Gas turbine plant in Charlotte

23

Energy costs in the USA and Germany

Electricity price (€ ct per kWh)

Industry Private households

0

10

20

30

4.84 9.13

29.95

17.03