APEC Accelerator Network Forum Taipei Siemens VC Stands

APEC Accelerator Network Forum, Taipei Siemens VC Stands together with Innovative Entrepreneurs Madeline Song, Global Senior Partner, Siemens Venture Capital Unrestricted © Siemens AG 2014 All rights reserved. Financial Services

Siemens AG A Heritage of Customer-focused Innovation “ The process of invention is useful and clearly successful only when it is closely linked to addressing directly relevant questions. – Werner von Siemens, 1886 ” Unrestricted © Siemens AG 2014 All rights reserved. Page 2 2014 -03 -25 Siemens Venture Capital Financial Services

Siemens at a Glance Unrestricted © Siemens AG 2014 All rights reserved. Page 3 2014 -03 -25 Siemens Venture Capital Financial Services

Siemens Financial Services’ businesses SFS Units Siemens Commercial Finance (Leasing and Equipment Finance, Vendor Finance) Sectors Insurance Pensions Venture Capital Treasury Energy Healthcare Project & Structured Finance Energy Project, Structured & Leveraged Finance Healthcare Trade Finance Infrastructure and Cities Industry Advisory Financing and Investment Management Project & Structured Finance Infrastructure and Cities & Industry (Debt, Equity, Financial Advisory) Unrestricted © Siemens AG 2014 All rights reserved. Page 4 2014 -03 -25 Siemens Venture Capital Financial Services

SVC’s History 80 s Testing the • 1983 • Fund of Fund • Corporate Finance and Corporate Technology managed Ground 90 s Spreading out Now Streamlined • • 1 st direct investments 1996 (Com 21, Floware / Alvarion) 1 st M&A of a classical tech start-up 1995 (Ornet) Siemens Venture Capital (SVC) ICN Mustang Ventures Infineon Ventures SBS Ventures Siemens Mobile Accelerator • • All under one roof Company-wide processes One face to the community – one voice to the market October 1 st, 2007: SVC is part of Siemens Financial Services and expands its activities with growth capital, pension advisory and creation of an own VC fund-of-funds (SGIP I) in 2009 Unrestricted © Siemens AG 2014 All rights reserved. Page 5 2014 -03 -25 Siemens Venture Capital Financial Services

SVC at a Glance Business Mandate: Venture Capital (VC) investments in innovative startup companies with relevance to Siemens Sectors and center of competence for private equity and VC fund investments. 3 lines of business • Corporate Venture Capital (CVC) • Private Equity Asset Management (PEAM) • Siemens Global Innovation Partners (VC Fund-Funds) Corporate Venture Capital (CVC) 5 Sector Funds • Energy Fund • Healthcare Fund • Industrial Fund • Industry of the Future Fund Organisational set up • Infrastructure & Cities Fund • business segment within SFS (SFS VC) • special investment vehicles (i. e. SVC Gmb. H) • capability to invest in China in local currency CVC key data • Investment professionals - team of 15 A team of 33 in 4 offices Munich (4), Boston (5), Palo Alto (3), Beijing (3) • Munich, Boston, Palo Alto, Beijing 46 transactions total volume of € 154 m in 2013, Asset under Management € 1. 1 billion • Current active portfolio of 24 companies • 170 portfolio companies since 1999, > € 800 million invested Unrestricted © Siemens AG 2014 All rights reserved. Page 6 2014 -03 -25 Siemens Venture Capital Financial Services

Siemens Venture Capital business scope VC Investments: Technology & Innovation § § § § SVC Energy Fund SVC Industry Fund SVC Healthcare Fund SVC Infrastructure & Cities Fund IOFF Au. M $100 m Venture & Growth Capital Investments Focus on active portfolio companies in the US, Europe and APAC € 60 m p. a. Siemens Global Innovation Partners § § § VC fund of funds has been running for 20 years Current SGIP I Vintage 2009 Fund-of-Funds to Venture/Growth Capital Worldwide investment strategy with a pure financial focus Portfolio of 21 VC Funds LP-base: Siemens Pension Trust; non-Siemens institutional investors § The current SGIP I portfolio is well diversified: 100. 0% Other Growth 25% 19% 75. 0% Consumer 13% Israel 5% Asia 11% Europe Late 23% 33% 50. 0% Media//Internet 31% Private Equity Asset Management 25. 0% § PEAM team is responsible for full scope of private equity fund investment process § Siemens Pension Trusts as clients § Asset Classes § Buyouts § Venture/Growth Capital § Secondaries § Special Situations Early IT/Comm 48% U. S. 61% 31% 0. 0% Sector Stage Region Holistic Market View § Acting as § Corporate Partner § General Partner § Limited Partner § Advisor for Asset Management Unrestricted © Siemens AG 2014 All rights reserved. Page 7 2014 -03 -25 Siemens Venture Capital Financial Services

SVC CVC Help Startup Companies Build, Sell and Grow 5 -10 Years Post-IPO Risk Market Acceptance Value IPO First Product Idea Patent Prototype Seed Early stage First sale Late/ Expansion stage SVC Unrestricted © Siemens AG 2014 All rights reserved. Page 8 2014 -03 -25 Siemens Venture Capital Financial Services

Difference between SVC Io. FF, Venture and Growth Investments Company Related • • • Maturity • Business Model • Funding Needs • Risk Profile • (Potential) Siemens Relation • Financial Situation • Industry of Venture Growth the Future Fund Investments Start-up Technology Provider Development & Ramp Technology & Market Risks Supplier & Partner Typically not profitable • • • Start-up & growth Technology Provider Development & Ramp Technology & Market Risks Supplier & Partner May or may not profitable • • • Growth Flexible Expansion, M&A Execution Risks Supplier /Partner /Customer Typically profitable < $ 1 milion per round 5~7 years targeted Active investor; BOD Significant minority Primarily equity • • • € 1~10 million per round 3 -5 years targeted Active investor; BOD Significant minority Primarily equity • • • € 10~30 million <3 years targeted Active investor; BOD Significant minority Primarily equity Investment Related • • • Investment Amount Holding Period Role Ownership Type • • • Unrestricted © Siemens AG 2014 All rights reserved. Page 9 2014 -03 -25 Siemens Venture Capital Financial Services

Siemens Venture Capital Value Proposition Window on Technology Financial objectives Strategic objectives high returns Innovation at an acceptable level of risk enhancing access to innovation, reducing time-to-market Fostering Innovation Entrepreneurship Creating Networks Goal: Achieve Outstanding IRR on Strategically Important Investments Unrestricted © Siemens AG 2014 All rights reserved. Page 10 2014 -03 -25 Siemens Venture Capital Financial Services

Smart Money by Siemens Venture Capital – A Win-Win situation for Siemens and the Start-ups Siemens Venture Capital is a strong, trusted, and innovative partner that rings substantial and sustainable value to its portfolio companies and investors and is a first stop for high quality deals. Start-ups offer. . . Siemens offers. . . q Cash for growing Company q Solid investor with deep pockets Know-how exchange between experts on market, technology, etc. q q Innovation strength q Creativity – "Great ideas“ q Flexibility q New technology q Fast communication and coordination q Entrepreneurship q Cost advantages in R&D q Good networking contacts in their environment Partner for OEM, production, standardization, system integration q Strategic q Worldwide sales channels q Lead customer role, customer base q Access to the worldwide Siemens network and business relationships Partnership q Availability of resources – laboratories, technology and IPRs q Value-add integration q Manufacturing capacity q Buying power q Service network q Reputation & Creditability Unrestricted © Siemens AG 2014 All rights reserved. Page 11 2014 -03 -25 Siemens Venture Capital Financial Services

Newly launched Io. FF Industry of the Future Fund (Io. FF) AUM • US$ 100 million Target Companies • Start-up companies early in their lifecycle with little or no revenue, and is setup to be able to move quickly if needed Investment Amount • Designed to invest <$1 m per round Preferred Area Investment Cases Made • Preferred area widely covered, e. g. ü - Internet of Things / M 2 M communication ü - Analytics / big data for industrial use cases ü - Cloud-based PLM software ü - Cyber security for industrial use cases • Lagoa (Mon-treal) provides cloud-based, high-performance 3 D visualization software • Counter. Tack (Boston) develops next generation cyber security software. Unrestricted © Siemens AG 2014 All rights reserved. Page 12 2014 -03 -25 Siemens Venture Capital Financial Services

SVC’s Footprint in Asia ü • • Beijing office was established in 2006 Currently 3 CVC investment professionals responsible for Asia region direct investment Has made 3 direct investments, and 3 exits Launched a RMB investment vehicle for CVC investment in 2013 o Access to local deals o Investments in RMB possible o Speed and less complexity (avoidance of offshore structures) o Deemed as “local“ or domestic investor with significant lower administrational hurdles and advantages for target company o Eligibility for certain preferential tax deductions ü • SGIP I has made two China venture/growth fund investments ü • PEAM has one pan-Asian growth/buyout fund and two pan-Asian fund-of-funds commitments Unrestricted © Siemens AG 2014 All rights reserved. Page 13 2014 -03 -25 Siemens Venture Capital Financial Services

SVC global has total 33 employees, 4 team members are from Beijing office Munich Boston Silicon Valley Beijing Unrestricted © Siemens AG 2014 All rights reserved. Page 14 2014 -03 -25 Siemens Venture Capital Financial Services

Contacts Siemens Venture Capital Munich Office Otto-Hahn-Ring 6 München 81739, GERMANY Tel. : +49 89 636 31546 Fax: +49 89 636 34884 Email: kathrin. fox@siemens. com www. siemensventurecapital. com Siemens Venture Capital Silicon Valley Office 550 Lytton, 3 rd floor Palo Alto, CA 94301, U. S. A. Tel. : +1 617 531 2903 Fax: +1 617 531 2908 Email: joyce. jordan@siemens. com www. siemensventurecapital. com Siemens Venture Capital Boston Office 45 Fairfield Street Boston, MA 02116, U. S. A. Tel. : +1 617 531 2903 Fax: +1 617 531 2908 Email: joyce. jordan@siemens. com www. siemensventurecapital. com Siemens Venture Capital Beijing Office No. 7, Wangjing Zhonghuan Nanlu Chaoyang District P. O. Box 8543 Beijing 100102, P. R. China Tel. : +8610 -6476 8890 Fax: +8610 -6476 4984 Email: sandy. liu@siemens. com www. siemensventurecapital. com Unrestricted © Siemens AG 2014 All rights reserved. Page 15 2014 -03 -25 Siemens Venture Capital Financial Services