Shareholder Structure

Siemens AG has issued 914.203.421 registered shares (as of November 30, 2008). Almost 660,000 shareholders are listed in the Shareholder Register. According to the guidelines of the Deutsche Boerse stock indices, a holding is defined as a "non-free float", if the number of shares of an individual investor are, in aggregate, 5 percent or more of a stock category of the authorized capital. Currently, only the family holdings of Siemens' founder, Werner von Siemens, meet this criterion. The non-free float holding is not accounted for in the company's weighting in the DAX (German stock index), as only the freely tradable shares of the authorized capital are taken into account. This so-called "free float" currently amounts to approximately 94% of Siemens AG's shares.

According to the Shareholder Register, slightly less than 85% of the company’s share capital is held by institutional investors such as mutual funds, insurance companies and banks, or by central depositary institutions. Conversely, private shareholders have more than 15% of the company’s share capital.