Report of the Supervisory Board Detailed discussion of the audit of the Audit Committee’s review also covered the non-financial financial statements information for Siemens AG and the Siemens Group that The independent auditors, Ernst & Young GmbH Wirt- is included in the Combined Management Report. The schaftsprüfungsgesellschaft, Stuttgart, audited the audit reports prepared by the independent auditors were Annual Financial Statements of Siemens AG, the Consol- distributed to all members of the Supervisory Board and idated Financial Statements of the Siemens Group and comprehensively reviewed at the Supervisory Board the Combined Management Report for Siemens AG and meeting on December 6, 2023, in the presence of the in- - dependent auditors, who reported on the scope, focal the Siemens Group for fiscal 2023 and issued an unqual ified opinion for each. Ernst & Young GmbH Wirtschafts- points and main findings of their audit, addressing, in prüfungsgesellschaft, Stuttgart, has served as the inde- particular, key audit matters, the Audit Committee’s focus pendent auditors of Siemens AG and the Siemens Group areas and the audit procedures implemented. No major since fiscal 2009. Siegfried Keller has signed as auditor weaknesses in the Company’s internal control or risk since fiscal 2023 and as auditor responsible for the audit management systems were reported. At this meeting, also since fiscal 2023. Dr. Philipp Gaenslen has signed as the Managing Board explained the financial statements auditor since fiscal 2021. The Annual Financial State- of Siemens AG and the Siemens Group as well as the ments of Siemens AG and the Combined Management Company’s risk management system. Report for Siemens AG and the Siemens Group were pre- pared in accordance with the requirements of German The Supervisory Board concurs with the results of the au- law. The Consolidated Financial Statements of the dit. Following the definitive findings of the Audit Com- Siemens Group were prepared in accordance with the mittee’s examination and our own examination, we have International Financial Reporting Standards (IFRS) as no objections. The Managing Board prepared the Annual adopted for use in the European Union (EU) and with Financial Statements of Siemens AG and the Consoli- the additional requirements of German law set out in dated Financial Statements of the Siemens Group. We Section 315 e (1) of the German Commercial Code approved the Annual Financial Statements of Siemens AG (Handelsgesetzbuch, HGB). The Consolidated Financial and the Consolidated Financial Statements of the Statements of the Siemens Group also comply with all Siemens Group. In view of our approval, these financial IFRS requirements as issued by the International Account- statements are accepted as submitted. We endorsed the ing Standards Board (IASB). The independent auditors Managing Board’s proposal that the net income available conducted their audit in accordance with Section 317 of for distribution be used to pay out a dividend of € 4.70 - per share entitled to a dividend and that the amount of the German Commercial Code and the EU Audit Regula tion and German generally accepted standards for the net income attributable to shares of stock not entitled to audit of financial statements as promulgated by the Insti- receive a dividend for fiscal 2023 be carried forward. tut der Wirtschaftsprüfer (IDW) as well as in supplemen- tary compliance with the International Standards on The Sustainability Report for fiscal 2023 and the informa- Auditing (ISA). The abovementioned documents as well tion regarding the EU taxonomy in the Combined Man- as the Managing Board’s proposal for the appropriation agement Report for Siemens AG and the Siemens Group - of net income were submitted to the Supervisory Board for fiscal 2023 and the independent auditors’ related re by the Managing Board in advance. The Audit Committee ports were dealt with at the Audit Committee meeting on discussed the dividend proposal in detail at its meeting December 5, 2023, and at the Supervisory Board meeting on November 14, 2023. It discussed the Annual Financial on December 6, 2023. Statements of Siemens AG, the Consolidated Financial Statements of the Siemens Group and the Combined Management Report in detail at its meeting on Decem- ber 5, 2023. In this context, the Audit Committee con- cerned itself, in particular, with the key audit matters described in the independent auditors’ respective opin- ions, including the audit procedures implemented. The FISCAL 2023 9