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SIEMENS ISSUES RESPONSE TO BLOOMBERG ARTICLE


(The following is a reformatted version of a statement issued by Siemens. The statement was confirmed.)

In relation to the article “Siemens sees risk of abuse in Brazilian Anticorruption Act”, disclosed by Bloomberg agency in this Thursday, January 9th, Siemens clarifies that its opinion was portrayed in an incomplete manner, because the article fails to mention that the Siemens was one of the companies who has been most engaged in the creation of the new Anti-corruption Act (Law no.12.846/13), which brings to Brazil an unprecedented level of sophistication and advance in mechanisms to fight corruption.

As of 2008 Siemens has in place a system of policies and controls for compliance (integrity and obedience to the laws), which aims to ensure the highest standards of ethical conduct and integrity in business, in Brazil and worldwide, fully reflecting the principles of the new Brazilian Anti-corruption Act.

It was the non-negotiable commitment to these principles that led the company to make the recent complaint to CADE and Federal and São Paulo Prosecutors of an alleged cartel in subway and railway system in the past.

As many new and complex laws, the Anti-Corruption Law will undergo a ripening phase, in which the intrinsic risks of its implementation process, pointed out not only by Mr. Giovanini, but also by many experts from other organizations, will be easily and quickly mitigated , even on appeal levels.

Siemens understands that such risks are minimal when compared to the numerous benefits produced by the enactment of the new Anti-Corruption Law and reinforces its unrestricted support to this important milestone in the Country’s history.

(bjh) NY

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