Siemens Energy : announces preliminary results for first quarter of fiscal year 2021 and confirms its outlook for fiscal year 2021

Press release

Munich, January 24, 2021

Ad hoc: Siemens Energy AG announces preliminary results for first quarter of fiscal year 2021 and confirms its outlook for fiscal year 2021

Siemens Energy AG announces preliminary results for the first quarter of fiscal year 2021:

• Adjusted EBITA at Siemens Energy was with €243m back in a positive range (Q1 FY 2020: negative €117m) and therefore higher than expected. The recent quarter benefited from operational improvements driving lower costs, however, including positive temporary effects. Adjusted EBITA before Special Items increased to €366m, reflecting a margin of 5.6%.
• Siemens Energy orders reached €7.4bn, substantially below the high basis of comparison in the first quarter of the prior year.
• Revenue increased by 2.6% to €6.5bn.
• We confirm our outlook for fiscal year 2021.

Siemens Energy

Order intake: €7,432m (Q1 FY 2020: €10,029m; consensus €7,237m), down 26% nominal

Revenue: €6,541m (Q1 FY 2020: €6,373m; consensus: €6,710m), up 3% nominal

Adjusted EBITA: €243m (Q1 FY 2020: neg. €117m; consensus: neg. €26m), reflecting a margin of

3.7% (Q1 FY 2020: neg. 1.8%; consensus: neg. 0.4%)

Adjusted EBITA before Special Items: €366m (Q1 FY 2020: neg. €74m; consensus: €119m),

reflecting a margin of 5.6% (Q1 FY 2020: neg. 1.2%; consensus: 1.8%)

Gas and Power

Order intake: €5,166m (Q1 FY 2020: €5,434m; consensus €4,616m), down 5% nominal

Revenue: €4,292m (Q1 FY 2020: €4,420m; consensus: €4,331m), down 3% nominal

Adjusted EBITA: €191m (Q1 FY 2020: €51m; consensus: €14m), reflecting a margin of 4.5% (Q1 FY

2020: 1.2%; consensus: 0.3%)

Adjusted EBITA before Special Items: €267m (Q1 FY 2020: €68m; consensus: €89m), reflecting a

margin of 6.2% (Q1 FY 2020: 1.5%; consensus: 2.1%)

Siemens Energy AG	Otto-Hahn-Ring 6
Communications	81739 Munich
Head: Robin Zimmermann	Germany
Siemens Energy is a registered trademark licensed by Siemens AG.	Page 1 of 3

Press release

The above figures are preliminary and Siemens Energy AG will publish its full earnings release for the first quarter of fiscal year 2021 on February 2, 2021.

Disclaimer

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. Explanations of financial measures used can be found in the Annual Report 2020 of Siemens Energy AG (available at https://assets.siemens-energy.com/siemens/assets/api/uuid:e28c0ec6-2e23-4dc4-811a-7eccc4bd035f/2020-12-07-siemens-energy-ag-annual-report-2020.pdf), in particular in Section

1.2. 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.

Siemens Energy AG	Otto-Hahn-Ring 6
Communications	81739 Munich
Head: Robin Zimmermann	Germany
Siemens Energy is a registered trademark licensed by Siemens AG.	Page 2 of 3

Press release

Contact for journalists

Tim Proll-Gerwe

Phone: [phone]

E-mail:[e-mail]

Annette von Leoprechting

Phone: [phone]

E-mail:[e-mail]

This press release is available at www.siemens-energy.com/press

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Siemens Energy is one of the world's leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain - from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology,

such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion

in fiscal year 2020. www.siemens-energy.com.

Siemens Energy AG	Otto-Hahn-Ring 6
Communications	81739 Munich
Head: Robin Zimmermann	Germany
Siemens Energy is a registered trademark licensed by Siemens AG.	Page 3 of 3