Compensation Report → B. Compensation of Managing Board members “Individual targets” target dimension The “Individual targets” target dimension comprises four equally weighted individual targets, achievement of each of which may be between 0% and 200%. The cash conversion rate (CCR) was defined as the first individual target for all Managing Board members. The CCR reflects a company’s ability to convert profit into available cash. For the President and CEO and the Managing Board members with primarily functional responsibility, the CCR target was defined on the basis of the Siemens Group in order to support Siemens’ voluntary commitment to generate cash at Group level. CCR Siemens Group is defined as the ratio of free cash flow from continuing and discontinued operations to net income. For the Managing Board members with business responsibility for Digital Industries and Smart Infrastructure, the CCR targets are business-specific and defined as the ratio of free cash flow to profit at each business. The target amounts for CCR were based on the budget plans. Individual targets: Cash conversion rate (CCR) - Target setting and target achievement Siemens Group Digital Industries Smart Infrastructure r 200% - 200% 100.00% 115.00% 100% Actual 100% Actual achievement achievement value value value 2023 2023 2023 1.17 Target 0.85 Target 0.95 CCR 0% CCR 0.92 1.32 0.45 0.85 1.25 0.49 0.89 1.29 100% Cap Floor 100% Cap Floor 100% Cap target target target (0.4) +0.4 (0.4) I +0.4 (0.4) I +0.4 Performance range Performance range Performance range Target achievement: 162.50% Target achievement: 100.00% Target achievement: 115.00% In addition to CCR, “comparable revenue growth” was defined as the second individual target for fiscal 2023 for all members of the Managing Board. It indicates the development in Siemens’ business net of currency translation effects arising from the external environment outside of Siemens’ control and the portfolio effects that involve business activities that are either new to or no longer a part of the relevant business. For the President and CEO and the members of the Managing Board with primarily functional responsibility, the growth target was determined on the basis of continuing operations (c/o) related to the Siemens Group (Siemens c/o). For the Managing Board members with business responsibility for Digital Industries and Smart Infrastructure, growth targets are based on their respective businesses. The respective target values were derived from the external outlook for fiscal 2023. Individual targets: Comparable revenue growth - Target setting and target achievement Siemens c/o Digital Industries Smart Infrastructure - 200% 200.00% 200% 200.00% 168.00% 100% Actual 100% ; Actual Actual achievement achievement achievement value value value 2023 2023 2023 Target 0% v/— 10.74% Target 14.90% Target 15.42% 5.50% 7.50% 9.50% Growth 0% 6.50% 11.50% 16.50% 5.50% 9.50% 13.50% Floor 100% Cap Floor 100% Cap Floor 100% target target target (2) ppts. +2 ppts. (5) ppts. I +5 ppts. (4) ppts. I +4 ppts. Performance range Performance range Performance range Target achievement: 200.00% Target achievement: 168.00% Target achievement: 200.00% FISCAL 2023 16