Investor Presentaiton

Continued growth in Transmission and Mobility Industrial growth picking up slowly SIEMENS Siemens relevant sectors Projected timeline for CAPEX pickup Today A Future Current status and future outlook Transport • • Railways current focus on 'network decongestion' over 'network expansion'; and safety projects USD 37" bn of projects expected from FY17-20 (USD 8"5 for products e.g. Rolling stock, Signaling etc) Power T&D AC transmission capacity addition on track; HVDC, FACTS and 765 kV AC to be focus areas • 100% rural electrification expected by May 2017 - one year ahead of schedule Construction Power Gen. Manufacturing • 27 Smart Cities additional cities announced taking the total number to 60 (as per schedule) Four states (Gujarat, UP, MP, Odisha) relax land acq. laws to free up regulations for commercial use • State sector plans to retire 36 GW old inefficient capacity over six years; will trigger next capex cycle Additionally India needs c. 20 GW/pa coal capacity addition to meet 7% demand growth Revival expected to improve with good monsoon, lower rates and growth in corporate earnings Initial indicators show jump in passenger vehicle sales, consumer credit etc TBCB Tariff Based Competitive Bidding; HVDC High Voltage Direct Current; FACTS Flexible AC Transmission Systems; UP Uttar Pradesh; MP Madhya Pradesh Page 5 FY 2016, Analyst Presentation

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