Siemens Aktiengesellschaft · XETR:SIE

Siemens Aktiengesellschaft — Siemens — Merger or Acquisition (March 2016)

10 slides from Siemens Aktiengesellschaft's merger presentation, Mar 4, 2016

1. Slide 1: Investor Presentation

   Siemens Ltd., March 4, 2016 Investor Presentation Siemens Ltd. 2016. All rights reserved. www.siemens.co.in 2

2. Slide 2: Disclaimer

   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 gi

3. Slide 3: Transaction Overview

   Transaction Overview Board of Directors of Siemens Ltd. has approved the sale and transfer of its Healthcare undertaking, as a going concern 1 on a slump sale basis, for a sale consideration of INR 30,500 million, to Siemens Healthcare Pvt. Ltd., a subsidiary of Siemens AG ("Proposed Transaction"),

4. Slide 4: Alignment with Siemens AG's Strategy and Management Framework

   Alignment with Siemens AG’s Strategy and Management Framework On May 7, 2014, Siemens AG announced an internal reorganization into 9 divisions and 1 independently operated unit, Healthcare – Siemens Healthcare to operate under a separate company within Siemens AG, with an independent management team

5. Slide 5: Overview of India Healthcare Market

   Overview of India Healthcare Market  Healthcare spend stands at 4% of GDP, of which Government spend is roughly 30% (1)  Medical Devices comprises c. 4.4% of total Indian Healthcare market(2) Market Trends Government Initiatives and Policy  Draft medical device policy to promote local manufacturi

6. Slide 6: Siemens Ltd. – Healthcare Products and Services

   Siemens Ltd. – Healthcare Products and Services Siemens Serves c.1.4% of the Healthcare market in India (medical devices are c. 4.4% of the total markets) (1) (2) India Healthcare Market (c. INR 5,440 bn) Medical Devices Market (c. INR 240 bn) Medical Devices Market Segments (2) Served by Siemens Lt

7. Slide 7: Transaction Benefits and Rationale

   Transaction Benefits and Rationale Healthcare in India: Changing Scenario Alignment with Global Strategy and Management Framework  Increasing Government spending, preference for  Globally, Healthcare a separately managed unit locally manufactured products  Growth being driven by Tier II / III cit

8. Slide 8: Independent Valuation & High Corporate Governance Standards

   Independent Valuation & High Corporate Governance Standards  Valuation conducted by two Independent valuers – Deloitte Touche Tohmatsu India LLP and KPMG India Private Limited, with Citigroup Global Markets India Private Limited as Transaction advisor  Following disclosures are available on Siemen

9. Slide 9: Summary of Valuation Approach

   Summary of Valuation Approach  KPMG India Private Limited, in its valuation report, has recommended a valuation in the range of INR 29,376 million to INR 31,994 million(1). Their valuation is based on the following methodologies: 1. Discounted Cash Flow (“DCF”): Assuming a WACC range of 10.86% - 11

10. Slide 10: Thank You!

    Thank You! Page 8 March 4, 2016 Siemens Ltd. 2016. All rights reserved. Investor Presentation

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