Annual Shareholders' Meeting

PhilipsABB

Schneider

Siemens

GE

Source:

Reuters

11.01.2011

150

140

130

120

110

100

90

Jan 10 Feb 10 Mar 10 Apr 10 May 10 Jun 10 Jul 10 Aug 10 Sep 10 Oct 10 Nov 10 Dec 10

SIEMENS SHARE –

in comparison

+11%+7%

+40%

+44%

+19%

SIEMENS INVENTORS –

more innovative than ever

SIEMENS INNOVATIONS –

more successful than ever

FISCAL 2010 –

top results

Continuing operations in million euros FY 2009 FY 2010 Change

New orders 78,991 81,163 +1%

Order backlog (in billion euros) 81 87 +8%

Revenue 76,651 75,978 -3%

Profit Total Sectors 7,466 7,789 +4%

Net income (after tax) 2,497 4,068 +63%

Dividend (in euros) 1.60 2.70 +69%3)

1)

Adjusted for currency translation and portfolio effects.2)

Including impairment charges of €1.2 billion related to the Healthcare Sector's diagnostics business.3)

Proposal by the Supervisory Board and Managing Board at the Annual Shareholders' Meeting of Siemens AG.

2)

1)

1)

2)

FIRST QUARTER –

fully on track in meeting targets

Continuing operations in million euros Q1 2010 Q1 2011 Change

New orders 18,976 22,588 +13%

Revenue 17,352 19,489 +6%

Profit Total Sectors 2,109 2,229 +6%

Income from continuing operations 1,526 1,787 +17%

1)

1)

1)

Adjusted for currency translation and portfolio effects.

Fit4

2010 –

transformation completed

Growth

10-3%

0908

9%

07

10%4% 4%2x GDP

07 -

10

0%

CAGR1)

FYFY

Profitability

in %

9 –

13Industry Energy Healthcare

11 –

15 14 –

17

10090807FY

10090807FY

10090807FY

10.07.710.59.914.012.96.49.0

12.5 13.714.4 17.22)

7.5

1) Average annual growth rate 2) Excluding impairments and purchase price allocation/ PPA at Diagnostics (DX)

ROLE MODEL –

in integrity and sustainability

PIONEER –

in building a civilization of sustainability

RECOGNITION –

a preferred partner all over the world

THANKS –

for excellent performance

OUR AMBITION –

sustainable growth

ONE SIEMENS –

our target system

One Siemens

Siemens

Sectors Top EBITDA margins throughout industry cycles

Revenue growth Capital efficiency

ROCE15 –

20%

Capital structure

Dividend payout ratio of 30 –

50%M&A hurdle rates

Continuous improvement relative to market and competitors

GROWTH –

three levers

Cities

Customer proximity

Employees

FUTURE –

green cities

CITIES –

growth markets for Siemens

MAN Truck & Bus

CUSTOMER PROXIMITY –

tradition of local roots

1851Major order from Russia

1901First Office in Egypt

1911First office in Hong Kong

1886First US-representative

SIEMENS EMPLOYEES –

the power of Siemens

Diversity and engagement

Integrity

Training, education, lifelong learning

DIVERSITY –

a success

factor