SIEMENS GAMESA RENEWABLE ENERGY LIMITED

Standard payment terms

Payment terms are assigned by the Business units on a case by case basis:- Payment terms usage : - Intercompany transactions paid immediately in the in the month after the receipt of invoice. Intercompany clearing terms are available to Siemens companies only and the clearing of such transactions is done without any transmission of money external to Siemens cash pool. 1. Orbian, Supply Chain Finance Programme (SCF) - Payments are made to Supplier by Orbian immediately with deduction in payment to supplier which Siemens then pay to Orbian at extended payment term date. ORBIAN - 75 days 2%, 90 days 1%, 150/180 days 6% 180 days as the longest payment term in this category. 2. 3rd party payment terms <30 days 3%, 30 days 13%, 45 days 7%, 60 days 41%, 75 days 15%, 90 days 11% Remainder of transactions were on payment term with less than 1% occurrence. 120 days as the longest payment term in this category. The payment statistics excluding the ICC transactions and Orbian are as follows :- Average time it took to pay an invoice 113 Days , Split of payments 0-30 days 9%,31-60 days 36%, 61+days 55%

Were there any changes to the standard payment terms in the reporting period?

External and Internal vendors had payment terms changed

Any other information about payment terms

Early settlement discounts are applied as agreed with the suppliers and range from 1% to 3% based upon the timing of payments. During the reporting less than 1% of the overall transactions showed pre-agreed discounts with the suppliers.

Maximum contractual payment period agreed

180

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

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Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

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Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available