Annual Financial Statements The amount of interest rate risks hedged with the valuation unit, which did not lead to a provision for anticipated losses, totaled €165 million. NOTE 27 Proposal for the appropriation of net income The Supervisory Board and the Managing Board propose the unappropriated net income of Siemens AG for the fiscal year ended September 30, 2023, amounting to €3,760 million to be appropriated as follows: Distribution of a dividend of €4.70 on each share of no par value entitled to the dividend, and carry-forward of the unappropriated net income for shares of no par value not entitled to the dividend. NOTE 28 Remuneration of the members of the Managing Board and the Supervisory Board Remuneration of the members of the Managing Board Members of the Managing Board received cash compensation of €18.8 million. The fair value of share-based compensation amounted to €10.5 million for 170,111 stock awards. The Company granted contributions under the BSAV to members of the Managing Board totaling €2.2 million. Therefore, the compensation and benefits attributable to members of the Managing Board amounted to €31.6 million in total. Total remuneration of former members of the Managing Board Former members of the Managing Board and their surviving dependents received a total of €24.6 million according to Section 285 no. 9b of the German Commercial Code. Siemens recognized pension provisions totaling €129.3 million for the pension entitlements to former members of the Managing Board and their surviving dependents. Remuneration of the members of the Supervisory Board Compensation attributable to members of the Supervisory Board comprises a base compensation and additional compensation for committee work and amounted to €5.3 million (including meeting fees). NOTE 29 Declaration of Compliance with the German Corporate Governance Code As of October 1, 2023, the mandatory statement pursuant to Section 161 of the German Stock Corporation Act (AktG) has been issued by the Managing Board and the Supervisory Board and is permanently accessible on siemens.com/gcg-code. NOTE 30 Subsequent events In November 2023, agreements were entered into with the intent to acquire 18% of the shares in Siemens Limited, India from the Siemens Energy Group for a purchase price of €2.1 billion in cash. Closing of the transaction is expected in December 2023. 17