Siemens Gamesa Renewable Energy S A : announces preliminary results for first quarter of fiscal year 2021 and confirms its outlook for fiscal year 2021.

SIEMENS GAMESA RENEWABLE ENERGY, S.A.

OTHER RELEVANT INFORMATION

As per section 227 of the restated text of the Securities Market Law (texto refundido de la Ley del Mercado de Valores), approved by the Royal Legislative Decree 4/2015, of 23 October, and related provisions, the Company announces the following other relevant information:

Siemens Energy AG, majority shareholder of Siemens Gamesa Renewable Energy, S.A. (the "Company"), has announced its preliminary results for the first quarter of fiscal year 2021 https://www.siemens-energy.com/global/en/company/investor-relations/publications-ad-hoc.html#AdHocAnnouncements.

Therefore, Siemens Gamesa has decided to announce its preliminary results for the first quarter of financial year 2021 ("Q1 FY21"):

• Order intake of €2.3bn (compared to €4.6bn in the same quarter of financial year 2020), this reflecting the volatile nature of the Offshore market with a strong contribution to both WTG and Service orders in the first quarter of financial year 2020. Booking of wind turbine offshore orders, and new offshore turbines' related service orders, is expected in the coming quarters, with no orders booked in Q1 FY21.
• Group revenues amount to €2.3bn, up 15% Year on Year, supported by strong offshore growth, and negatively impacted by currency devaluation.
• EBIT pre-PPA and before integration and restructuring costs amounts to €121 million
  (versus -€136 million (loss) in the first quarter of financial year 2020), equivalent to a margin of 5.3% over sales in Q1 FY21 that benefits from the existence of one-time positive impacts in this quarter.

As a result of this preliminary performance, the Company confirms and maintains the outlook for fiscal year 2021 as announced on November the 5th 2020 (https://www.siemensgamesa.com/-/media/siemensgamesa/downloads/en/investors-and-shareholders/periodic-information/2020/q4/q4-activity-report-year-2020-siemens-gamesa-en.pdf).

The above figures are preliminary and non-audited. Siemens Gamesa Renewable Energy, S.A. will publish its full earnings release for the first quarter of fiscal year 2021 on January 29th, 2021.

Zamudio (Vizcaya), January 24, 2021

Andreas Nauen

Chief Executive Officer

IMPORTANT NOTICE: This document is a translation of a duly approved Spanish-language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish-language document which this translation is intended to reflect, the text of the original Spanish-language document shall prevail.

IMPORTANT INFORMATION

This document contains declarations which constitute forward looking statements, and includes references to our current intentions, beliefs or expectations regarding future events and trends that may affect our financial condition, earnings and share price These forward looking statements do not constitute a warranty as to future performance and imply risks and uncertainties Therefore, actual results may differ materially from those expressed or implied by the forward looking statements, due to different factors, risks and uncertainties, such as economical, competitive, regulatory or commercial factors The value of any investment may rise or fall and, furthermore, it may not be recovered, partially or completely Likewise, past performance is not indicative of future results.

The facts, opinions, and forecasts included in this material are furnished as of the date of this document, are preliminary and are based on the company's estimates and on sources believed to be reliable by Siemens Gamesa Renewable Energy, but the company does not warrant their completeness, timeliness or accuracy, and, accordingly, no reliance should be placed on them in this connection. Both the information and the conclusions contained in this document are subject to changes without notice Siemens Gamesa Renewable Energy undertakes no obligation to update forward looking statements to reflect events or circumstances that occur after the date the statements were made.

The results and evolution of the company may differ materially from those expressed in this document None of the information contained in this document constitutes a solicitation or offer to buy or sell any securities or advice or recommendations with regard to any other transaction This material does not provide any type of investment recommendation, or legal, tax or any other type of advice, and it should not be relied upon to make any investment or decision.

Any and all the decisions taken by any third party as a result of the information, materials or reports contained in this document are the sole and exclusive risk and responsibility of that third party, and Siemens Gamesa Renewable Energy shall not be responsible for any damages derived from the use of this document or its content.

Siemens Gamesa Renewable Energy prepares and reports its Financial Information in thousands of euros (unless stated otherwise) Due to rounding, numbers presented may not add up precisely to totals provided.

Note on alternative performance measures (APMs). The definitions and reconciliation of the alternative performance measures that are included in this announcement will be disclosed in the Activity Report associated to these and is aligned with previous results.

IMPORTANT NOTICE: This document is a translation of a duly approved Spanish-language document, and is provided for informational purposes only. In the event of any discrepancy between the text of this translation and the text of the original Spanish-language document which this translation is intended to reflect, the text of the original Spanish-language document shall prevail.