Siemens Energy : Presentation (2026-01-12 GIS-Conference-Siemens-Energy-Presentation)

German Investment Seminar in New York

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Maria Ferraro January 2026

Siemens Energy is a trademark licensed by Siemens AG.

We delivered FY25 above our commitments

Profit margin before SI 6.0% 500 bps	Revenues €39.1 bn 15.2%1	Order backlog €138 bn 12.3%2	Backlog margin increase +220 bps
Net Promoter Score	Credit rating outlook3	Gas turbines4 sold 194 units 94%	Transformers
62 8	From negative to positive		capacity increase +15%

Note: All developments indicated are vs. FY24 | 1 Comparable revenue growth in FY25: Excluding currency translation and portfolio effects | 2 Nominal growth | 3 S&P long-term credit rating & outlook change in FY25 | 4 Gas turbines >10 MW

Excellent order book

Enhance resilience in a transforming world

Order backlog

(in € bn)

+42%

123

112

97

138

Backlog project margin1 improvement

Gas Services backlog margin up

~12 pp in new unit and ~3 pp

in Service since FY22

(in pp)

5

7

Grid Technologies backlog quadrupled,

and margin1 rose 9 pp since FY22

Gas Services (New Unit)

1

2

Transformation of Industry backlog margin up in both new unit and Service; high transactional volume

Gas Services (Service)

3

6

Grid Technologies

1

3

Siemens Gamesa Onshore

new unit backlog down to ~€2 bn

and improving margin

Transformation of Industry

1

Resilient service backlog of >€60 bn

Siemens Gamesa2

FY22 FY23 FY24 FY25

GS TI GT SG

FY22 - 24 FY25

1 Margin on product/solution/service project level | 2 Siemens Gamesa backlog margin FY22 - 24: neg 4 pp

As a global leader in energy technology, we energize society

We benefit from electricity growth and electrification.

We act in areas where we can achieve a #1 or #2 market position.

We target financial performance in top

quartile of industrials in each business.

Guided by our North Star

We implement effective corporate structures and aim to reduce our overhead cost intensity continuously.

We focus on customers to maintain top NPS levels.

We operate in a growing market

~2x

global electricity demand grew twice as fast as total energy demand in 2025

~€1.3 tn

world investment in power generation and grids in 2025

~45%

increase in global electricity demand by 2035

Source: Siemens Energy analysis based on IEA World Energy Outlook 2025, IEA World Energy Investment 2025, DNV Energy Transition Outlook 2025

In a turbulent world, we elevate performance and upgrade our targets

FY25

FY26

FY28

15.2%	11 - 13%	Low-teens
6.0%	9 - 11%	14 - 16%
€4.7 bn	€4 - 5 bn

Revenue growth1 Profit margin before SI Free Cash Flow pre-tax 1 Comparable revenue growth (excluding currency translation and portfolio effects); FY28 Compound annual revenue growth rate (FY25-based)

Sustainable value creation to accelerate

Built the transforming energy world

Gas Services Grid Technologies Transformation of Industry Siemens Gamesa

Revenue growth1 Mid-teens

High-teens M/HSD MSD

18 -		18 -	3 -
20%	16 -	20%	5%

Profit margin before SI

14 -

16%

13.0%

15.8%

18%

11 -

12 -

11.3%

13%

(13.1)%

Break-even

14%

FY22 FY23 FY24 FY25 FY26 FY28

FY22 FY23 FY24 FY25 FY26 FY28

FY22 FY23 FY24 FY25 FY26 FY28

FY22 FY23 FY24 FY25 FY26 FY28

Profit before SI (FY25 - 28)

>2x

~2x ~1.5x +€2 bn2

Previous mid-term targets FY28: GS 12 - 14%, GT 13 - 15%, TI 10 - 12%, SG 3 - 5% | 1 Compound annual comparable revenue growth rate (FY25-based) | 2 Improvement profit w/o special items FY28 vs FY25

Build the transforming

energy world

• Develop production infrastructure for fast-growing business

• Evolve business portfolio

• Build the talent pool to deliver

  Enhance resilience in

  a transforming world

• Build robust supply chains

• Optimize financial resilience

• Respond swiftly to external threats

  Transform the

  way we operate

• Continuously optimize our operating model

• Leverage data and digitalization

• Keep focus on sustainability

Strong cash generation - Solid investment grade credit profile with positive outlook

BBB

(outlook positive)

as of Dec. 11, 2025

Free Cash Flow (pre tax)

(in € bn)

∑ ~€20 bn

4.7

4 - 5

Baa1

(outlook stable)

as of Dec. 17, 2025

FY22 FY23 FY24 FY25 FY26 FY28