| | NOVEMBER 20238SIEMENS AG TO ACQUIRE 18 PERCENT STAKE VIA SIEMENS INDIAIN FOCUSThe German global technology company Siemens AG will pay Siemens Energy 2.1 billion euros in cash to acquire an 18 percent share in Siemens Ltd. India, the company announced. This action will be taken through the execution of a share purchase agreement.This would result in Siemens Energy's stake dropping from 24 percent to 6 percent and Siemens' interest in the publicly traded Siemens Ltd. India rising from 51 percent to 69 percent. The purchase price includes a customary 15 percent discount on the volume-weighted average price before the day of signing, the company said. "With the intended acquisition, Siemens and Siemens Energy accelerate unbundling the business activities of the Indian subsidiary of Siemens". Roland Busch, President and Chief Executive Officer of Siemens AG, stated, "Together, we shaped a solution that is in the best possible interests of all parties and accelerates the separation of Siemens and Siemens Energy in India." In addition to the immediate cash inflow, he continued, "We are also enabling an additional line for customer guarantees, making a strong overall contribution to the future stability and growth of Siemens Energy".Additionally, Siemens and Siemens Energy have reached an agreement for indirect financial measures totaling 1 billion, which will enable third parties to provide Siemens Energy with guarantees. Siemens Energy's 750 million 5 percent stake in Siemens India will be used as security for assurances by the parent company. The parent has agreed to pay the specified amount for up to 5% of the India unit's shares in the event that the collateral is pulled. Additionally, Siemens and Siemens Energy have reached an agreement for indirect financial measures totaling 1 billion, which will enable third parties to provide Siemens Energy with guarantees
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