Corporate Governance Statement As a group, the Managing Board shall have many industry, infrastructure, energy, mobility and healthcare ­ sectors – as well as many years of experience in tech­ years of experience in technology (including infor mation technology, digitalization and cybersecu­ nology (including information technology, digitalization rity), sustainability, transformation, procurement, and cybersecurity), sustainability, transformation, pro­ manufacturing, research and development, sales, curement, manufacturing, research and development, ­ sales, finance, risk management, law (including compli­ finance, risk management, law (including compli ance) and human resources. ance) and human resources. Diversity also means gender diversity. According to the legal requirement applicable to Siemens AG Siemens AG complies with the minimum participation (Section 76 para. 3a of the German Stock Corpora­ requirement set out in Section 76 para. 3 a of the German tion Act), the Managing Board must include at least Stock Corporation Act. The Managing Board has one one woman and at least one man (minimum partic­ female member, Judith Wiese. Beyond the minimum ipation requirement). Beyond the minimum partici­ participation requirement, the consideration of women pation requirement, the consideration of women is is a key component of the Supervisory Board’s long­term an essential aspect of the Supervisory Board’s long­ succession planning for the Managing Board. Different term succession planning for the Managing Board. age groups are represented on the Managing Board. No It is considered helpful if different age groups are Managing Board member has reached the stipulated represented on the Managing Board. In accordance regular age limit. with the recommendation of the Code, the Super­ visory Board has defined an age limit for the mem­ Long-term succession planning bers of the Managing Board. In keeping with this for the Managing Board limit, the members of the Managing Board are, as Jointly with the Managing Board and with the support of a rule, to be not older than 67 years of age. the Chairman’s Committee, the Supervisory Board con­ ducts long­term succession planning for the Managing When making an appointment to a specific Managing Board. Long­term succession planning is systematic and ­ based on the strategic target setting of the Company. Board position, the decisive factor is always the Com pany’s best interest, taking into consideration all cir­ Taking into account the concrete qualification require­ cumstances in the individual case.” ments and the diversity concept that the Supervisory Board has approved for the Managing Board’s compo­ Implementation of the diversity concept sition, the Chairman’s Committee prepares ideal profiles. for the Managing Board in fiscal 2023 When a concrete decision regarding succession is to be The diversity concept for the Managing Board is imple­ made, the Chairman’s Committee compiles a shortlist of mented as part of the process for making appointments the available candidates on the basis of these profiles. to the Managing Board. When selecting candidates Structured interviews are then conducted with these and / or making proposals for the appointment of Manag­ candidates. After the interviews, a recommendation is ing Board members, the Supervisory Board and / or the submitted to the Supervisory Board for approval. When Chairman’s Committee of the Supervisory Board take into developing the profile of requirements and selecting account the requirements defined in the diversity con­ candidates, the Supervisory Board and / or the Chairman’s cept for the Managing Board. Committee are supported, if necessary, by external consultants. In its current composition, the Managing Board fulfills all the requirements of the diversity concept. The Managing Board members have a broad range of knowledge, expe­ rience and educational and professional backgrounds as well as international experience. The Managing Board has all the knowledge and experience that is considered essential in view of Siemens’ activities. As a group, the Managing Board has experience in the business areas that are important for Siemens – in particular, in the 10