Corporate Governance Statement 5. Targets, within the meaning 6. Diversity concept for the of Section 76 para. 4 of the Managing Board and long­term German Stock Corporation Act, succession planning for the quota of women at the For the composition of the Managing Board, the follow­ two management levels below ing diversity concept applies: the Managing Board; Information on Managing Board compliance “The goal of t his diversity concept is to achieve a com­ with the participation require­ position that is as diverse as possible and comprises ment and Supervisory Board individuals who complement one another in a Manag­ compliance with minimum ing Board that provides strong leadership and brings different perspectives to the management of the gender quota requirements Company as well as to ensure that, as a group, the members of the Managing Board have all the know­ Pursuant to the German Stock Corporation Act, the Man­ how and skills that are considered essential in view of aging Board of Siemens AG must include at least one Siemens’ activities. woman and at least one man (minimum participation requirement). In fiscal 2023, Siemens AG complied with When selecting members of the Managing Board, the ­ this requirement. Beyond the minimum participation re Supervisory Board pays close attention to candidates’ quirement, the consideration of women is an essential personal suitability, integrity, convincing leadership aspect of the Supervisory Board’s long­term succession qualities, international experience, expertise in their planning for the Managing Board. prospective areas of responsibility, achievements to date and knowledge of the Company as well as their When filling managerial positions at the Company, the ability to adjust business models and processes in a Managing Board takes diversity into account and, in partic­ changing world. Diversity with respect to such charac­ ular, aims for an appropriate consideration of women and teristics as age and gender as well as professional and internationality. In May 2022, in compliance with the ­ educational background is an important selection cri German legal requirements set out in Section 76 para. 4 of terion for appointments to Managing Board positions. the German Stock Corporation Act, the Managing Board set When selecting members of the Managing Board, the the targets for the percentage of women in manag ement Supervisory Board also gives special consideration to positions at Siemens AG that will apply until September 30, the following factors: 2025, as follows: 30 % for the first management level below the Managing Board and 25 % for the second management In addition to the expertise and management and level below the Managing Board. On the basis of projected leadership experience required for their specific employee figures, women will, accordingly, hold a total tasks, the Managing Board members shall have the of four of the 13 positions at Siemens AG at the first broadest possible range of knowledge and experi­ management level below the Managing Board and a ence and the widest possible educational and pro­ t otal of 32 of the 126 positions at Siemens AG at the fessional backgrounds. second management level below the Managing Board. Taking the Company’s international orientation For the Siemens Group worldwide, the targets set out in into account, the composition of the Managing the Companywide DEGREE sustainability framework Board shall reflect internationality with respect to continue to apply without change. different cultural backgrounds and international experience (such as extensive professional experi­ The composition of the Supervisory Board fulfilled the ence in foreign countries and responsibility for legal requirements regarding the minimum gender quota business activities in foreign countries in areas that in the reporting period. are relevant for Siemens). As a group, the Managing Board shall have experi­ Statutory provisions on the equal participation of men and ence in the business areas that are important for women in management positions that may be applicable to Siemens – in particular, in the industry, infrastruc­ Group companies other than Siemens AG remain unaffected. ture, energy, mobility and healthcare sectors. 9