Nov 07 1

Welcome to Siemens Ltd.’s

Analyst Meet

Mumbai, November 23, 2007

Nov 07 2

Outline of the Presentations

• Introduction

• Review of Business Operations J Schubert

• Financial Presentation P de Royer

• Future Outlook J Schubert

Nov 07 3

Two basic characters of business

1. Products & Solutions business

Products produced locally or imported

Solutions – technical knowledge to create special industry applications

2. Mega Projects

Delivery cycle ranges from 4 weeks to 4 years

Impacts order intake from year to year

Nov 07 4

SITS Siemens Industrial Turbomachinery Services Pvt. Ltd. SPEL Siemens Power Engineering Pvt. Ltd. SCF Siemens Corporate Finance Pvt. Ltd.

SISL Siemens Information Systems Ltd. TPSL Torrent Power Services Pvt. Ltd. BIAL Bangalore International Airport Ltd.

SIPS Siemens Information Processing Services Pvt. Ltd. Osram Osram India Pvt. Ltd. WDSIL Winergy Drive Systems India Pvt. Ltd.

SBT Siemens Building Technologies Pvt. Ltd. SHIL Siemens Hearing Instruments Pvt. Ltd. SECPL Siemens Enterprise Communications Pvt. Ltd.

SVAI Siemens VAI Engineering & Automation Pvt. Ltd. SVDO Siemens VDO Automotive Components Pvt. Ltd. SMSDL Siemens Medical Solutions Diagnostics Ltd.

AIL Automotive Infotronics Pvt. Ltd. Under Liquidation (non-operational) UGS UGS India Pvt. Ltd.

Siemens Nixdorf Informations Systems Pvt. Ltd. & Power Plant Performance Improvement Ltd.

Siemens Ltd. (SL)

Siemens Ltd. (SL)

55.18%Siemens AG, Germany (SAG)

or its subsidiariesSiemens AG, Germany (SAG)

or its subsidiaries

100%

SISL

44.82%

51% 79.32%

SIPS49%

100%

SITS Flender Ltd.

50%

SBT

SVDO SHIL

100%

SPEL

100%

Osram

100%

SCF

100%

TPSL

50%

50%

BIAL

40%

60%

100% 100%

WDSIL

100%

SVAI

50%

Structure of Siemens Companies in India – as on 16th Nov 2007

Others

20.68%

SECPL

100%

SMSDL AIL

Public Shareholders

(~ 4,500)

31% 50%

69% 50%

UGS

100%

Siemens in India has 19 legal entities Siemens Ltd. is publicly listed

PublicShareholders

(~ 95,000)

OthersTorrent Power Ltd.

Ashok Leyland

Ltd.

Nov 07 5

New Orders 101,600 115,703 14%

Turnover 60,323 93,786 55%

Profit Before Tax 5,835 9,869 69%

Profit After Tax 3,917 6,929 77%

Consolidated - Siemens Ltd, SISL, SIPS ,SITS, SPCNL (6 months ended March 07) & SBT (4 months ended Sept 07)

Rs. In million

2006 2007

Highlights - Siemens Ltd. Group

Nov 07 6

Rs. In million

2006 2007

Highlights - Siemens Ltd.

New Orders 82,025 101,070 23%

Turnover 45,103 77,268 71%

Profit Before Tax 5,055 8,742 73%

Profit After Tax 3,601 5,965 66%

UOV 75,258 94,074 25%

Dividend 190% 240% 1:1 bonus recommended

Nov 07 7

Total SL-Orders

0200004000060000

80000100000120000

2004/05 2005/06 2006/07

99%

Total SL-Sales

0

20000

40000

60000

80000

100000

2004/05 2005/06 2006/07

23%

40%

37% 64%

71%

48%

38%

Rs. In million

Base businesses have grown by 37%

Base Business Mega Project effect

Nov 07 8

External environment

Robust economic growth of over 9%

Favorable growth in the target segments such as Power, Industry including Transportation & Healthcare

Currency fluctuations gains

Internal strategies

Growth in our Base Businesses

Participation in Mega Projects

Reasons for our success….

Nov 07 9

Forayed into newer market segments & penetrated into B&C cities

Strengthened the portfolio though strategic acquisitions – like iMetrex Technologies & SITS

Focused on increasing the local value added structure & factory capacities to support growth

Growth in our Base Businesses

Investments of around Rs. 4 bn made last year

Nov 07 10

Participation in Mega Projects

Participated in select mega projects, both domestic & export - to feed the pipeline

Increased the export business to more than 30% of the total business

Mega projects generated higher volume of profits to finance investment plans

Mega orders on the export side reduce currency fluctuations on imports

Overall we have grown faster than the market & increased our market share

Nov 07 11

Energy

Industry

Healthcare

Information & CommunicationTransportation

Lighting

Business Segments

Business Segments

Nov 07 12

Healthcare

Transportation

Industry

Energy

Profits Sales TurnoverNew OrdersBusiness Segments

All business segments on track

* W/o Mega = + 24%

117%

48%

40%

27%

11%*

43%

246%

35%

216%

31%

10%

13%

Nov 07 13

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Nov 07 14

Comprises of Power Generation and PowerTransmission & Distribution

Power is crucial for GDP growth and high on Govt’s priority list

Only 54% addition of capacity in 10th plan

T&D sector grew well (12%)

Siemens Power segment posted a good result

Orders went up by 11% (by 24% without the mega order effect), Turnover increased by over 117%, Profits went up by 216%

Sales

19782

43008

0

10000

20000

30000

40000

50000

05-06 06-07

117%

Highlights:Power Segment

In Rs. million

Nov 07 15

Total Power-Orders

0

10000

20000

30000

40000

50000

60000

70000

2004/05 2005/06 2006/07

24%

Total Power-Sales

0

10000

20000

30000

40000

50000

2004/05 2005/06 2006/07

386%

11%

109%

117%

97%68%

37%

In Rs. million

Power business break upMega Orders+ Base Businesses

Base Business Mega Orders

Nov 07 16

Offers complete solutions & services for powerplants

Baroda Turbine factory commenced production in Jan’07

Completed 100% acquisition of SITS

Key Orders include

o Bhushan Steel & Strips order - Rs 290 mn

o First industrial GT order in India from MarutiSuzuki

o Biggest order in the Pulp & Paper industry from BILT Power - Rs 178 mn

Highlights:Power Generation (PG)

Nov 07 17

Offers solutions for all transmission anddistribution requirements

Bagged the largest contract in PTD worldwide for Rs. 40 bn in Qatar (Rs. 36 bn for India)

First transformer rolled out from the new transformer factory at Kalwa

o Initial investment of $50 mn for setting up factory

Key orders include

o PGCIL - Rs. 1,800 mn

o Electrification order for Andaman & Nicobarisland – Rs. 1,300 mn

o Reliance Industries Ltd. – Rs. 659 mn

Highlights:Power Transmission & Distribution (PTD)

Nov 07 18

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Nov 07 19

Comprises of Automation & Drives, IndustrialSolutions & Services and Building Technologies

Market Growth 11%

Growth in Retail, IT, ITES, Infrastructure, Hospitality, Manufacturing & residential buildings

High investments in Cement, Chemicals & Pharma, F&B, Automotive & Textile

Posted a good result with Orders up 43%, Sales increased by 48% & Profits up by 31%

Highlights:Industry Segment

Sales

18285

27102

0

6000

12000

18000

24000

30000

05-06 06-07

48%

In Rs. million

Nov 07 20

Offers a complete product and systems portfolio for automation in all industrial sectors

Orders up 15%, Sales up 36%, Profits up 9%

Retained leader position in most market segments

Forayed into new market segments

Key orders include:

o Rs 240 mn order from Dresser Rand

o Rs 215 mn order from Jaiprakash Assocaites

o Repeat order from Suzlon and Vestas worth Rs 1018 mn

Highlights:Automation & Drives (A&D)

Sales

12209

16555

0

5000

10000

15000

20000

05-06 06-07

36%

In Rs. million

Nov 07 21

Offers solutions and turnkey projects in the industrial and infrastructure sectors

Outstanding performance with Orders up by 96%,

Turnover up by 79%, Profits up by 63%

Leadership position in Metal & Power solutions

Breakthrough orders in oil & gas

Key orders include:

o Mcnally Bharat - Rs. 870 mn

o Morgan Construction Company - Rs. 750 mn

o Vedanta Alumina Ltd. - Rs. 813 mn

Highlights:Industrial Solutions & Services (I&S)

Sales

5320

9528

0

3000

6000

9000

12000

05-06 06-07

79%

In Rs. million

Nov 07 22

Offers solutions for Building Automation, Heating & Ventilation, Fire Detection, Security systems & Access Control

Orders grew 20%, Sales up by 35% and Profits increased 128%

Acquired 77% stake of iMetrex Technologies with complimenting portfolio

From Oct 1st, the business moved out into a separate legal entity – Siemens Building Technologies Pvt. Ltd.

Key Orders include:

o Rs 400 mn order from Reliance Retail

o Rs 300 mn order from IBM

o Rs 38 mn order from HPCL

Highlights:Building Technologies (SBT)

Sales

756

1019

0

300

600

900

1200

05-06 06-07

35%

In Rs. million

Nov 07 23

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Nov 07 24

Comprises of the Transportation Systems for Rail & Automotive for the 2 and 4 wheeler segments.

Indian Railways has emerged as one of the most profitable organizations during last 3 years

Emphasis on new technologies such as 3-phase traction was the main growth driver

Highlights:Transport Segment

Nov 07 25

Broad portfolio of solutions for the railway sector in the area of rail automation, traction equipment and electrification

Orders jumped by 246%; revenues increased by 40% & Profits up by 10%

First prototype of the Mumbai suburban rake was handed over to MRVC; now running on the tracks

Traction motor and invertor factory went on stream

Key orders

o 2,000 mn Prototype for IGBT based diesel locomotives

o Repeat order from Delhi Metro - Rs 1,663 mn

Highlights:Transportation System Division (TS)

Sales

2483

3467

0

1000

2000

3000

4000

05-06 06-07

40%

In Rs. million

Nov 07 26

Develops and builds intelligent products and systems for 2 wheelers, cars and commercial vehicles

Globally sold to Continental AG

Focus now on electronic components for cars and commercial vehicles

Setting up a new state-of-the-art electronic factory at Bangalore

Sales were flat due to a drop in 2 wheeler business

Successful in bagging good contracts in the commercial vehicle segment

Highlights:Siemens VDO Automotive (SV)

Sales

1240 1203

0

400

800

1200

1600

05-06 06-07

-3%

In Rs. million

Nov 07 27

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Nov 07 28

Sales

4138

5247

0

2000

4000

6000

05-06 06-07

Portfolio offers a wide range of diagnostic and therapeutic equipment & complete hospital solutions

Orders increased by 35% & Sales rose by 27%; profits up by 13%

Captured higher market share by introducing new products and technologies

Key highlights include:

o Installed India’s first Dual Source CT at Breach Candy Hospital

o Commissioned a single largest MRI order for Government of Tamil Nadu

Highlights:Medical Solutions

27%

In Rs. million

Nov 07 29

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Nov 07 30

Offers a comprehensive range of communication systems, solutions, services & products for offices and enterprises.

From Aug 1, 07, Com EN is a separate legal entity, known as Siemens Enterprise Communications Pvt. Ltd., a 100% subsidiary of Siemens AG

Only 10 months nos. included in our books; However comparing 12 months nos, Orders grew by 29%; Turnover up 17%

Business retained its no.1 market position

Key Orders

o ASCON order worth Rs 118 million

o Rs 28 million order in Defense sector

Highlights:Communication Enterprise Networks

Sales1570

1841

0

500

1000

1500

2000

05-06 06-07

17%

In Rs. million

Nov 07 31

Group Companies

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Nov 07 32

Software development across verticals likeIndustry,Telecom, Healthcare, Automotive etc.

SISL reached the Rs 1000 Cr milestone this year

Turnover was up 19%, Orders went down 26% & Profits were down by 5%

Set back in orders & profits mainly due to COM business

Worldwide, Software business re-structured under SIS - Siemens IT Solutions and Services

Development partner for all Siemens AG groups

Key Orders include:

o Delhi airport, Sun TV, BBC and MCGM

Highlights:Siemens Information System Ltd. (SISL)

Sales

860510236

0

3000

6000

9000

12000

05-06 06-07

19%

In Rs. million

Nov 07 33

Countries

Focus-sectors

Business

Siemens IT Solutions and Services: 43.000 Employees, ~ € 5" Sales

Customers

Focus

BICBusiness

Innovation Center

DIPDevelopment

Innovation and Projects

SBSSiemens BusinessServices

SISLSiemens

Information Systems Ltd.

PSEProgram and

System Engineering

IT Infrastructure-Mgmt Services and IT-Solutions

Healthcare, Airports, Media

Software andIT-Solutions, IT Services

Software andIT-Solutions, Consulting, SystemintegrationUtilities

UnitSoftware andIT-Solutions

30% internal

Switzerland

Public, Telco

Software, Consulting, Systemintegration, IT-Infrastruckture, IT Services

85% internal

IND, USA, GB, D

Public, Manufacturing

30% internal

40 Countries, e.g. D, OES, GB, ITA, USA

Telco, HealthcareUtilities

90% internal

OES, South-East-Europe, CHN, D, USA

Telco, Public

100% internal

Griechenland

SISL is one of the Five Pillars of SIS

Nov 07 34

Offers Back office customer contact services to Siemens companies globally and also third parties

Service areas include travel management, back-office accounting services

SIPS has over 2,600 employees

Orders increased by 21%, Turnover increased by 21%; profits up by 73%

Key Orders include:

o Siemens Energy Services PLC, UK for Utility services

o Siemens Canada for providing Accounts Payable and Cash Management services

Sales

8321010

0

500

1000

1500

05-06 06-07

21%

Highlights:Siemens Information Processing Services Pvt. Ltd. (SIPS)

In Rs. million

Nov 07 35

Group Companies

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Nov 07 36

Engaged in the business of Service, repair and overhaul of Small Gas Turbines and rotating equipment

Now a 100% subsidiary of Siemens Ltd

New Orders up by 33%; Sales jumped by 272%; profits rose by 438%

Key Orders include:

o ONGC continued to be a key customer

o Received orders from L&T and Maruti

Sales

137

509

0

200

400

600

800

05-06 06-07

272%

Highlights:Siemens Industrial Turbomachinery Pvt Ltd (SITS)

In Rs. million

Nov 07 37

Provides telecom network equipment including supply, design and installation, and software development

Following the global decision, the business sold to Nokia Siemens Networks

Results for the 6 months from October to March are included in the consolidated results of Siemens Ltd. Group

Sales

3095

3095

4741

0

2000

4000

6000

05-06 06-07

53%

Highlights:Siemens Public Communication Networks Ltd.

In Rs. million

Nov 07 38

1. Quality of results is important & not volume

2. Continuing on the investment path with 3 factories in the ramp up phase; payback yet to begin

o Setting up new R&D centre at Kalwa, which is under construction

o Building additional software centre in Maharashtra

o Modernizing offices, ramping up manpower; upgrading technologies in factories

all these investments in the pipeline to gear up for the growth targets

Growth led investments ………

Nov 07 39

Over to Mr. de Royer

Nov 07 40

Positive year with growth faster than the market and increased market share

Market capitalization crossed the Euro 5.6 billion mark

Siemens completed 50 years of incorporation in India

Siemens has 18 factories + 3 under construction & 18,000 employees in India

In last 4 years, employee base in India increased from 10,000 in 03/04 to 18,000 in 06/07-a rise of 80%

To sum up ………

Nov 07 41

Manpower growth

10,00012,000

15,00018,000

0

4,000

8,000

12,000

16,000

20,000

2003/04 2004/05 2005/06 2006/07

No. of Employees

80%

Manpower growth by 80% in 4 years

Nov 07 42

GDP estimated to grow at around 9% & electrical market at 10%

Infrastructure to remain focus area for the Government

Trends in industry and healthcare will continue

Power scenario is a concern; calls for faster decisions & implementation

Another limiting factor - availability of skilled resources

Indian Economy – Our prognosis

Nov 07 43

Siemens’ outlook looks optimistic

“Siemens in India is a key part of the company’s global growth strategy, on par with China”- Peter Loescher, President & CEO, Siemens AG

1. Triple growth strategy for future

o Growth in the domestic market by penetrating into newer sectors & geographies

o Explore additional avenue of growth in the export market

o Siemens AG to source products & services from India for regional and global markets

Outlook for Siemens

Target - Double Sales in the next 3 years

Nov 07 44

2. Strategy to sustain a healthy bottom line

Enhance the local value added structure by developing a product strategy for low-cost products

Retain our core competencies and align with multiple partners – for higher output and lower costs

3. People strategy

Employees are the most critical resource that determines our success

Outline a multi-layered employee development program

Outlook for Siemens…contd..

Age 40-60 yrs

34%

Age <30 yrs

36%

Age 30-4030%

Employee Age Profile

Nov 07 45

Corporate Responsibility

Nov 07 46

Corporate Governance

Commitment to set the highest standard of

governance

Strengthened our processes to ensure full

compliance

Being a listed company, Siemens already follows

stringent processes

Business with ethics is the most important

Nov 07 47

Compliance is the top priority

Prevent… Detect… Act…… through clear rules, training programs, communication and clear responsibilities

… compliance violations through audits, reviews and monitoring

… with rigorous and appropriate measures in cases of compliance violations

Uniform, seamless and mutually complementary legal, compliance and audit processes worldwideCompliance must be part of our company culture and firmly anchored in all business processesUnlimited commitment to integrity and responsible action

A business based on the highest ethical principles –at all times and everywhere in the world

Nov 07 48

Giving back to society

CSR-Integral part of our business philosophy

Involve employees for active volunteering

Current Projects

o Tsunami relief

o St. Catherine’s Home, Mumbai – orphanage

o St. Mary’s Orphanage in Bangalore

o Seva Chakkara Ashrama

o Akshar Trust – school for deaf and dumb children

Further plan to extend initiatives to other cities including Kolkata.

Also employed 35 differently abled people in the main stream

Nov 07 49

Re-grouping of businesses

Globally, the businesses have been re-grouped into 3 key sectors

o Industry (A&D, I&S, SBT & TS businesses)

o Energy (PG and PTD businesses)

o Healthcare (Med business)

In India, operating divisions were separately reported and in future, it would be continued

Nov 07 50

Integrated technology company focused on three Sectors

Improved focusSectors Customer centric

Growth markets

Reduced complexity

Leveraged synergies

Cross-sectorbusinesses

IndustryBusinesses from

Automation and DrivesIndustrial Services and SolutionsTransportation SystemsSiemens Building TechnologiesOsram

EnergyBusinesses from

Power GenerationPower Transmission and Distribution

HealthcareBusinesses from

Medical Solutions Sie

men

s IT

Sol

utio

ns a

nd S

ervi

ces

Sie

men

s Fi

nanc

ial S

ervi

ces

Three Sectors

Nov 07 51

Thank You