Munich, August 2, 2020

Disclosure of an inside information according to Article 17 MAR

Siemens welcomes acquisition of Varian by Siemens Healthineers

Siemens AG is continuing to rigorously execute its Vision 2020+ strategy and therefore expressly welcomes Siemens Healthineers AG's acquisition of a 100 percent stake in Varian Medical Systems, Inc. (NYSE: VAR), a U.S. company active in the area of cancer research and therapy. The acquisition is expected to close in the first half of calendar year 2021, subject to approval by Varian shareholders, receipt of regulatory approvals and other customary closing conditions. Payment of the purchase price of around $16.4 billion is to be enabled by mixed financing from the issuance of new Siemens Healthineers shares and the issuance of bonds by Siemens. The proceeds from the bonds are to be transferred within the Group to Siemens Healthineers under customary market conditions. Due to the planned capital increase at Siemens Healthineers AG, in which Siemens AG will not participate, Siemens AG's stake in Siemens Healthineers AG will decline to about 72 percent from 85 percent.

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