Q1 FY2026 Shareholder Letter

Shareholder Letter

Q1 FY2026

Siemens Energy Investor Relations

Siemens Energy is a trademark licensed by Siemens AG.

‌Dear shareholders,

This issue of our shareholder letter reaches you a few days after our sixth Annual General Meeting, which was held in person for the first time ever. It also comes roughly two weeks after we reported our first quarter results for fiscal year 2026 on February 11, 2026.

"We have made a very strong start to the financial year. Sustained high demand in our gas turbines and grid technologies businesses is making a significant contribution to overall performance. Also in the wind business, there are early signs of a modest improvement", says Christian Bruch, President and CEO of Siemens Energy AG.

The positive momentum from the prior fiscal year carried seamlessly into the first quarter. Favorable energy market trends remained firmly intact, robust demand was broad-based across regions and technologies with strong data center expansion. As a result, orders reached a new record. Revenue rose significantly, and both earnings and cash flow improved sharply; earnings even more than doubled compared to the prior year.

Siemens Energy's orders amounted to €17.6bn. Growth driver was the record order intake at Gas Services, while both Grid Technologies and Transformation of Industry achieved double-digit growth rates. As a result, the book-to-bill ratio (ratio of orders to revenue) reached 1.82 and the order backlog rose to a new high of €146bn.

Revenue increased by 12.8% to €9.7bn compared to the prior year on a comparable basis (excluding currency translation and portfolio effects). All segments reported growth. Profit before Special items of Siemens Energy sharply improved year-over-year to €1,159m (Q1 FY 2025: €481m), primarily due to the profit improvement at Siemens Gamesa and Grid Technologies.

Special items amounted to negative €152m (Q1 FY 2025: negative €18m) mainly related to the closing of the disposal of the Indian wind business. Siemens Energy's Profit came in at €1,007m (Q1 FY 2025: €463m). Net income also rose sharply, amounting to €746m (Q1 FY 2025: €252m). Corresponding basic earnings per share were 0.79 (Q1 FY 2025: €0.23). Free cash flow pre tax came in at €2,869m (Q1 FY 2025: €1,528m) driven by strong profit development and benefiting from customer advance payments as well as favorable timing effects.

After this strong start into the year, Siemens Energy confirms its outlook for fiscal year 2026.

At the Annual General Meeting (AGM), taking place in Berlin, around 66% of the capital was represented. All agenda items were approved by the AGM with very high approval rates, meaning also, that Siemens Energy pays a

€0.70 dividend to its shareholders for fiscal year 2025. You

can find more details on the following pages.

Thank you very much for your interest in our company!

All the best

Tobias Hang | Head of Investor Relations

1 Comparable basis: Excluding currency translation and portfolio effects | 2 Special Items

(in €bn, except where otherwise stated)

+34%1

17.6

13.7

8.9

+13%1

+660bps

12.0%

5.4%

>200%

0.79

0.23

9.7

Q1 FY25 Q1 FY26

Q1 FY25 Q1 FY26

Q1 FY25 Q1 FY26

Q1 FY25 Q1 FY26

1 Comparable (excluding currency translation and portfolio effects)

November 14, 2025 - February 26, 2026

Siemens Energy | DAX

160%

150%

140%

130%

120%

110%

100%

90%

80%

Nov-25

Dec-25

Jan-26

Feb-26

Siemens Energy +53.3% · DAX +5.4% · GEV +51.5% · Baker Hughes +33.0% · Hitachi (4.0)% · MHI +13.8%

On February 26, 2026, Siemens Energy AG held its Annual General Meeting (AGM) as an in-person event for the first time in the company's history. To give shareholders the opportunity to prepare for the exchange with both the Executive and Supervisory Boards, the speeches of Supervisory Board Chairman Joe Kaeser as well as President and CEO Christian Bruch were made available on the company website six days ahead of the meeting.

At Station Berlin, we were pleased to welcome around 800 shareholders who attended the presentations of Joe Kaeser and Christian Bruch on-site. Both speeches remain accessible online for later viewing. In parallel, more than 2,000 participants from various regions around the globe joined the event digitally.

During the general debate, shareholders contributed 23 statements and questions, covering a wide range of feedback - from positive remarks to constructive criticism and comprehensive inquiries. Siemens Energy's management subsequently addressed all points raised in detail.

In total, 66.1% of the share capital entitled to vote was represented at the AGM. All agenda items were approved with a clear majority (see table below). Joe Kaeser officially closed the meeting at 6:17 p.m.

The next Annual General Meeting is planned for February 2027.

A detailed overview of the results can be found here.

New York

Mississippi

North Carolina

Alabama

Greenfield factory Texas

Florida

Factory expansions

Siemens Energy has finalized the investment plans announced at its Capital Market Day in Charlotte. The company will invest

$1 billion to expand manufacturing sites in the United States and significantly grow its workforce.

Driven by rapid growth in data centers, AI infrastructure and industrial electrification, the U.S. requires modern grid technology and additional power generation capacity. Siemens Energy will support this demand through brownfield expansions, increased transformer and gas turbine production, and a new grid-component factory in Mississippi. More than 1,500 new jobs in manufacturing, engineering and operations will be created nationwide.

Planned investments include:

Mississippi: new high-voltage switchgear factory with up to 300 new jobs and a training center.

North Carolina: expanded transformer production, resumption of gas turbine manufacturing in Charlotte, expansion of turbine parts manufacturing in Winston-Salem, and broader grid technology and R&D activities in Raleigh; around 500 new jobs.

Florida: expanded blades and vanes manufacturing in Tampa; upgraded R&D capabilities and headquarters relocation to Lake Nona in Orlando.

Alabama: expanded generator component production, creating 120 new jobs.

New York & Texas: upgrades to facilities in Painted Post und Houston supporting compression equipment for pipelines.

Wind Power Transformer factory in Weiz

Transformer Tanks manufacturing facility in Zagreb

Siemens Energy is continuing to scale its Grid Technologies business with two major new production sites in Europe.

In Austria, the company has opened a new offshore wind transformer plant in Wollsdorf following an investment of more than €100 million.

The facility was completed within 13 months and adds 25,000 m² of production space, enabling annual output of up to 2,000 offshore wind transformers. Around 100 new jobs were created, and together with the long-established site in Weiz, Siemens Energy now supplies transformers for 80% of the world's offshore wind parks.

In Croatia, Siemens Energy and KONČAR have opened a new transformer tank factory near Zagreb. The joint venture facility creates more than 400 manufacturing jobs and provides capacity for approximately 160 custom large-power-transformer tanks per year.

It is part of a broader €260 million regional expansion program aimed at doubling transformer capacity to 45,000 MVA by 2031.

With two complementary sites in Zagreb - KPT for transformer assembly and KTK for tank manufacturing -the company strengthens output, shortens lead times and increases delivery reliability.

Both new plants enhance Europe's manufacturing resilience and support the accelerated grid expansion required to integrate renewable energy at scale, including supplying heavy-duty tanks for HVDC, generator step-up transformers and autotransformers up to 550 kV.

This outlook excludes charges related to any future legal and regulatory matters.

1 Comparable revenue growth: Excluding currency translation and portfolio effects | 2 Profit margin in % of revenue with profit as earnings before financial result, income taxes, amortization expenses related to intangible assets acquired in business

combinations, and goodwill impairments | 3 Compound annual comparable revenue growth rate (FY25-based) | 4 Free cash flow pre tax as operating cash flow less purchase of intangibles assets and property, plant and equipment and less Income

taxes paid

May 12, 2026 2nd quarter FY2026

Aug. 5, 2026 3rd quarter FY2026

Nov. 11, 2026 4th quarter FY2026

+49 89 2070 84040

investorrelations@siemens-energy.com

https://www.siemens-energy.com/investorrelations

Otto-Hahn-Ring 6

81739 Munich, Germany

Information and Forward-Looking Statements

This document contains statements related to our future business and financial performance, and future events or developments involving Siemens Energy that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project," or words of similar meaning. We may also make forward-looking statements in other reports, prospectuses, in presentations, in material delivered to shareholders, and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens Energy's management, of which many are beyond Siemens Energy's control. These are subject to a number of risks, uncertainties, and other factors, including, but not limited to, those described in disclosures, in particular in the chapter "Report on expected developments and associated material opportunities and risks" in the Annual Report. Should one or more of these risks or uncertainties materialize, should acts of force majeure, such as pandemics, occur, or should underlying expectations including future events occur at a later date or not at all, or should

assumptions prove incorrect, Siemens Energy's actual results, performance, or achievements may (negatively or positively) vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Siemens Energy neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. This document includes supplemental financial measures - that are not clearly defined in the applicable financial reporting framework - and that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Siemens Energy's net assets and financial position or results of operations as presented in accordance with the applicable financial reporting framework in its consolidated financial statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures."

Q1 FY2026 Siemens Energy Shareholder Letter