Siemens Ltd. - Quarterly/Annual Result Disclosures and Notes dated 30 Sep 2018

1. The Government of India introduced Goods and Service Tax ('GST') with effect from 1 July 2017 which partly replaced excise duty. Consequently, the revenue from operations for the year ended 30 September 2017 (up to period ended 30 June 2017) is inclusive of excise duty recovered. Corresponding excise duty expense has been disclosed separately.

2. During the year, the Company has started receiving licences against the applications made under the Merchandise Exports from India Scheme and Service Exports from India Scheme respectively, under the Foreign Trade Policy for the period 2015-2020. Accordingly, the Company has recognised incentives of Rs. 671 million (including Rs. 98 million pertaining to earlier quarters and Rs. 347 million pertaining to earlier years) and Rs.1,333 million (including Rs. 852 million pertaining to earlier years) as "Other operating income" for the quarter and year ended 30 September 2018 respectively.

3.The exceptional items (all of which relate to earlier periods) for the :

i. year ended 30 September 2017 includes profit on sale of wind power business forming part of Power and Gas segment of the Company amounting to Rs. 72 million (excluding tax impact Rs. 16 million) and;

ii. quarter and year ended 30 September 2017, includes profit on sale of property located at Worli, Mumbai amounting to Rs. 5,603 million (excluding tax impact Rs. 1,373 million).

4. The Board of Directors of the Company, at their meeting held on 21 February 2018, has agreed in-principle, subject to terms and conditions to be determined, to sell

i. its Mobility Division and Rail Traction Drives business (included in Process Industries and Drives Division which provides products and services to Mobility Division) as also its wholly owned subsidiary Siemens Rail Automation Private Limited, to Siemens AG, Germany ("SAG") or its subsidiary.

ii. its Mechanical Drives business (included in Process Industries and Drives Division) to SAG or its subsidiary.

Consequent to such in-principle approval, the Board of Directors have constituted a Committee of Directors to determine the consideration, terms and conditions and such other matters as may be considered expedient with respect to the aforesaid proposed transactions and make recommendations thereon to the Board of Directors for its consideration.

5. The Board of Directors have recommended a dividend of Rs. 7 per share for the year ended 30 September 2018 amounting to Rs. 2,493 million.

6. The figures for the quarters ended 30 September 2018 and 30 September 2017 are the balancing figures between the audited figures in respect of the full financial year and the unaudited nine months figures as reported by the Company.

7. Previous period figures have been regrouped / reclassified wherever necessary, to conform to current period classification.

8. The above financial results were reviewed and approved by the Audit Committee and Board of Directors at their meeting held on 17 November 2018 and 18 November 2018 respectively.