Annual Financial Statements The following table shows the changes of stock awards subject to performance conditions held by beneficiaries of Siemens AG and, for the first time since fiscal 2023 due to the overall increase in volume, also stock awards not subject to performance conditions: Fiscal year (in number of shares) 2023 Non-vested, beginning of fiscal year 5,111,928 Granted 1,364,429 Vested and fulfilled (730,891) Forfeited (924,465) Settled (5,005) Organizational changes (75,860) Non-vested, end of fiscal year 4,740,136 The pro rata intrinsic value of all stock awards issued to beneficiaries of Siemens AG amounted to €343 million at the balance sheet date. Share Matching Program Plan participants receive the right to one Siemens share without payment (matching share) for every three investment shares continuously held over a vesting period. Matching shares granted to beneficiaries of Siemens AG are expensed as incurred over the vesting period and are measured at the intrinsic value (= share price of the Siemens stock) at the balance sheet date on a pro rata basis for the proportion of the vesting period expired at the balance sheet date. The following table shows the changes in the entitlements to matching shares of beneficiaries of Siemens AG: Fiscal year (in number of shares) 2023 Outstanding, beginning of fiscal year 667,125 Granted 307,201 Vested and fulfilled (296,040) Forfeited (31,134) Settled (15,853) Organizational changes (29,029) Outstanding, end of fiscal year 602,270 The pro rata intrinsic value of all matching shares issued to beneficiaries of Siemens AG amounted to €47 million. NOTE 22 Shares in investment funds The following shares in investment funds according to investment objects were held: Sep 30, 2023 Deviation Carrying from carrying (in million of €) amount Market value amount Mixed funds 1,941 2,284 343 Bond-based funds 321 321 − Share-based funds 24 24 − Money market funds 50 50 − Shares in investment assets according to investment objects 2,336 2,679 343 Generally, shares in investment funds are accounted for securities held as non-current financial assets. Exceptions were those shares which represented plan assets and therefore were not accessible by all other creditors. These shares are held exclusively for the purpose of settling liabilities arising from post-employment obligations or comparable obligations with a long-term maturity, and are to be offset against such liabilities. NOTE 23 Guarantees and other commitments Sep 30, (in millions of €) 2023 Obligations from guarantees 3,395 Warranty obligations 101,116 thereof relating to financing of affiliated companies 70,041 thereof relating to performance guarantees on behalf of affiliated companies 23,040 thereof Others 8,036 Guarantees and other commitments 104,511 14