Siemens Energy : Q4 FY2022 Presentation Analyst Call

Siemens Energy strengthened business in challenging year - integration of Siemens Gamesa Renewable Energy (SGRE) is now the focus

Christian Bruch, President and CEO Siemens Energy Maria Ferraro, CFO Siemens Energy

Analyst presentation Q4 FY22 and FY22 Munich, November 16, 2022

Siemens Energy is a trademark licensed by Siemens AG.

Unrestricted © Siemens Energy, 2022

Disclaimer

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.

		Analyst Call | Q4 FY22	2
2022-11-16	Siemens Energy is a trademark licensed by Siemens AG.	Unrestricted © Siemens Energy, 2022

CEO section

Christian Bruch, CEO

		Analyst Call | Q4 FY22	3
2022-11-16	Siemens Energy is a trademark licensed by Siemens AG.	Unrestricted © Siemens Energy, 2022

Key Messages

Highlights / Lowlights

• New group structure (effective October 1, 2022)
• CTO: €960m raised by MCB, acceptance period in progress
• Russia: Restructuring of business activities largely finalized
• GP continued to deliver in Q4 and is on track for FY23 targets
• SGRE's operating performance reflects legacy issues, decisive steps taken
• SE's liquidity position has improved due to GP's strong cashflow

Market Environment

• Healthy demand across all businesses at GP
• Operating environment in wind industry improving (shift in boundary conditions, pricing and risk sharing)

Siemens Energy Guidance FY23

• Revenue: 3% to 7% comparable1 (FY22: neg. 2.5%)
• Profit margin before SI: 2% to 4% (FY22: 1.2%)
• Net loss: sharp reduction compared to FY22 (FY22: neg. €647m)
• Free cash flow pre tax: neg. range of low to-mid-triple-digit million

1 comparable: excluding currency translation and portfolio effects

2022-11-16

Q4 FY22 Financial Performance

• Orders: +27.4% comp.1 at €12.2bn
• Order backlog at new high of €97.4bn
• Revenue: +5.9% comp.1 at €9.2bn; book-to-bill of 1.33
• Adj. EBITA before SI: €594m (up from neg. €46m)
• Adj. EBITA margin before SI: 6.5% (Q4 FY21: neg. 0.6%)
• FCF pre tax: €1.9bn (up from €985m)

FY22 Financial Performance

• Orders: +11.9%; at €38.3bn
• Revenue: -2.5% comp.1 at €29.0bn; book-to-bill of 1.32
• Adj. EBITA before SI: €379m (down from €661m)
• Adj. EBITA margin before SI: 1.3% (FY21: 2.3%)
• FCF pre tax: €1.5bn (up from €1.4bn)
• Dividend suspended for fiscal year 2022

Analyst Call | Q4 FY22

4

Unrestricted © Siemens Energy, 2022

Version 18

SE proceeds to second stage of company transformation within an environment that provides challenges and opportunities

Nov 2021	Dec 2021	Feb 2022	Mar 2022	Aug 2022
COP26	Zero-Covid strategy	Start of	RePowerEU	US Inflation
	China continues	War in Ukraine	Act	Reduction Act

24.02.2022	01.03.2022	21.05.2022	24.05.2022	01.10.2022
New company structure /
Virtual	New SGRE CEO	Cash Tender	CMD
Restructuring Russia business
AGM	Jochen Eickholt	Offer SGRE	Berlin
largely finalized

	Analyst Call | Q4 FY22	5
2022-11-16	Unrestricted © Siemens Energy, 2022