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Siemens invites institutional investors in 2012 bonds with warrants to participate in exchange offer

The financial outcome of the exchange offer will be to solely replace the Osram element with subscription rights to additional Siemens shares. As currently foreseen, the replacement will be calculated based on the volume-weighted average prices of Siemens and Osram shares on the last five trading days of the offering period.
Based on the relevant stock prices of the last five trading days, for example, a new warrant would entitle its holder to receive approximately 85 additional Siemens shares. In contrast, if the holders of existing warrants were to exercise their warrants today, they would receive, against payment of the exercise price of €187,842.81, a total of 1,811.9349 Siemens shares and 160.4987 Osram shares.
Since Siemens will submit the warrants received for cancellation should the offer be accepted, only a small number of additional rights to obtain Siemens shares will be created. The pre-emptive rights of Siemens shareholders to new bonds with warrants, which are to be issued should the exchange offer be accepted, are excluded.
The offer is expected to expire on September 8, 2015. Siemens anticipates to make a decision regarding the acceptance of the exchange offers received on September 10, 2015 and to report the results of the transaction initiated today at that time.

For this press release

Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of gas and steam turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment – such as computed tomography and magnetic resonance imaging systems – and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2014, which ended on September 30, 2014, Siemens generated revenue from continuing operations of €71.9 billion and net income of €5.5 billion. At the end of September 2014, the company had around 343,000 employees worldwide on a continuing basis. Further information is available on the Internet at
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Wolfram Trost

Siemens AG

Wittelsbacherplatz 2
80333 Munich

+49 (89) 636-34794