Third Quarter Revenues 2026

Financial Information

Q3 2026 Revenues

Record revenues, strong execution and full year target upgraded

Rueil-Malmaison (France), October 16^th, 2026

Financial Highlights

• Revenues up +17% organic to €11.5 billion, a record high for any quarter
  • Broad-based demand across end-markets, led by Data Center up triple-digit
  • Strong growth in Energy Management, up +19% organic
  • Continued momentum in Industrial Automation, up +8% organic
  • All regions growing, led by China & East Asia up +26% org. and North America up +20% org.
  • Accelerating price contributes to Product growth of +17% org.
• Sustainability Impact 2030 program underway, reaching a score of 4.04
• 2026 Financial Target upgraded

Olivier Blum, Chief Executive Officer, commented:

“We delivered record quarterly revenues of €11.5 billion in Q3, growing 17% organically, demonstrating the strength of our value proposition across end-markets and geographies. Energy Management delivered outstanding growth, while Industrial Automation maintained solid momentum. As expected, Data Centers remained a key growth driver as we continue to execute on our backlog while seeing triple-digit demand growth in the quarter, providing increasing visibility into 2027 and 2028. More broadly, demand remained healthy across all four end-markets, supporting another record backlog at quarter-end.

We are seeing strong execution across all our business models. Product growth benefited from both proactive pricing actions and healthy volumes, Systems continued to perform strongly, and Software & Services delivered another solid quarter.

Earlier this month, we announced the signing of a definitive agreement to acquire PTC, a transformative step in advancing our vision of Energy and Industrial Intelligence. Together, we will create a unique Software & AI powerhouse bridging the physical and digital worlds across all our four end markets. By connecting and contextualizing data across the lifecycle of products and assets, we will create a unique digital thread for the next generation of Industrial AI, helping customers to optimize their systems with greater intelligence.

Our Q3 performance demonstrates the relentless focus, agility and execution of our teams across the Group. While pursuing our long-term strategic ambitions, we remain firmly focused on operational excellence and delivering for our customers every day. The strength of our results, backlog and market positions gives us confidence in our ability to capture the opportunities ahead while continuing to execute against our commitments. As a result, we are today upgrading our 2026 financial target.”

I. THIRD QUARTER REVENUES WERE UP +17% ORGANIC

2026 Q3 revenues were €11,460 million, up +16.9% organic and up +17.9% on a reported basis.

Q3 2026 PERFORMANCE BY BUSINESS MODEL

Products (48% of Q3 revenues) grew +17% organic in Q3. Growth was majority volume-driven, with price increasing sequentially as expected, with actions taken at the start of the year now at full run- rate and supplementary actions ramping up. Product revenues grew double-digit in Energy Management, with broad-based growth in electrical power distribution across all four end-markets. Products in Industrial Automation also grew double-digit, as the recovery in Discrete automation saw sustained momentum, driving growth across multiple product categories.

Systems (35% of Q3 revenues) grew +22% organic in Q3. Energy Management was up strong double- digit, with Data Center driving growth, notably in prefabricated solutions, continued strength in 3- phase UPS and cooling. The Infrastructure end-market also saw strong growth, notably with Grid customers. Industrial Automation grew low-single digit, seeing good growth with OEMs in Discrete automation, while Process & Hybrid markets saw declines overall, impacted by weakness in China.

Software & Services (17% of Q3 revenues) grew +7% organic in Q3 of which Software & Digital Services (7% of Q3 revenues) grew +8% organic and Field Services (10% of Q3 revenues) grew +7% organic.

Agnostic Software (comprising AVEVA, ETAP and RIB Software)

AVEVA delivered strong growth in Annualized Recurring Revenue (ARR), up +10% as of September 30, 2026 led by upsell to existing customers and supported by new logo wins including with customers in Energy & Chemicals (E&C), Transport, Automotive and through distribution channels. Organic revenue growth in Q3 was at similar levels to the ARR growth. Revenue continues to be driven by strong growth in subscription, with cloud-based SaaS continuing to grow significantly faster than on-premise rental. Subscription revenues further advanced as a proportion of total revenues as AVEVA nears completion of its subscription transition.

Energy Management agnostic software offers (ETAP and RIB Software) grew mid-single digit organic in the quarter, with strong growth in recurring revenues, while perpetual license revenues declined as expected. Performance was differentiated, with ETAP seeing strong organic growth despite a double-digit base of comparison, while organic growth at RIB Software was more subdued, with both impacted by the ongoing subscription transition.

Services (comprising Digital and Field Services offers) grew high-single digit organic in Q3

Field Services grew +7% organic in Q3, with high-single digit growth in Energy Management and mid-single digit growth in Industrial Automation. In Energy Management, growth was driven by installation, commissioning and modernization activities in Data Center, supported by strong traction for the Group’s recurring service plan offerings. Sales of the Group’s efficiency and sustainability program offers declined due to demand weakness in previous quarters.

Digital Services delivered high-single digit organic growth in Q3 driven by EcoStruxure solutions for Data Centers, Cybersecurity, Digital offers for Grid customers and Planon.

Q3 2026 PERFORMANCE BY END-MARKET

Schneider Electric sells its integrated portfolio into four end-markets: Data Center & Networks, Buildings, Industry and Infrastructure, leveraging the unique combination of Energy Management and Industrial Automation complementary offers and technologies supported by the focus on electrification, automation and digitalization to enable a sustainable future.

• Data Center & Networks – The Data Center & Networks end-market delivered another quarter of exceptionally strong demand, with Q3 demand up triple-digit. Demand within the pure Data Center segment remained very strong, up triple-digit globally, with strong demand across all four regions, led by North America, while demand in China & East Asia accelerated to a similar rate. Demand remained broad-based across hyperscale, colocation, neo-cloud and edge customers, reflecting the strength of the Group's comprehensive portfolio and global footprint. Sales growth in the pure Data Center segment was again up strong double-digit, driven by the Group’s offer in prefabricated solutions, electrical distribution & protection, and cooling. The Distributed IT segment saw strong performance in the quarter, with orders and sales both up double-digit, supported by the strength of the broader end-market.
• Buildings – The Buildings end-market saw strong demand in the quarter, driven mostly by strength in Non-residential while Residential demand remains concentrated in specific countries, most notably in India. Demand in Non-Residential was strong across most geographies, notably in the U.S., which saw strong demand in public access & public administration buildings, and in parts of Europe, while China remained weak. Sales followed a similar trend, with good growth in the Buildings end-market overall, with Non-Residential remaining stronger than Residential in most major geographies apart from India which also saw strength in Residential.
• Industry – Demand in the Industry end-market was strong, with Discrete automation benefiting from sustained strong demand momentum, led by China, India and East Asia. Hybrid automation segments, including Semiconductor and Consumer Packaged Goods also saw strong demand. Demand in Process automation was contrasted by region, with strength in the Middle East and India, both seeing traction in the E&C segment, good demand in North America while China was down and Europe remained subdued. Sales into the Industry end-market saw solid growth overall, including good growth in Discrete automation, and strong contribution from the Semiconductor segment in specific geographies, such as East Asia. Process industries saw positive growth for a second successive quarter, though not yet reflecting the strong demand of past quarters.
• Infrastructure – The Infrastructure end-market saw good demand in the quarter. Demand was strongest in the Water & Wastewater (WWW) segment, primarily in North America, supported by large service and efficiency projects with public utilities. Power & Grid (P&G) demand declined slightly during the period, with sustained strong demand from Grid customers across several geographies offset by declines in Power Generation. There was good demand momentum in the Transportation segment, notably from Marine. The Infrastructure end-market saw good sales growth driven by the Transportation and P&G segments, helped by sales of the Group’s SF6-free switchgear.

Q3 2026 PERFORMANCE BY BUSINESS AND GEOGRAPHY

The breakdown of revenue by business and geography was as follows:

North America (40% of Q3 revenues) grew +19.9% organic in Q3.

Energy Management grew +20.3% organic. The U.S. was up strong double-digit, led by strong growth in Data Center, which saw sustained customer demand for the Group’s comprehensive offers, particularly prefabricated solutions and cooling. Growth in other end-markets was solid overall, led by strong growth in Buildings, with continued traction in government-related, public-access and commercial building segments. Industry and Infrastructure were down overall, though growth was contrasted across segments, and included strong growth with Grid customers. Canada grew double- digit led by Data Center and Infrastructure while Buildings remained weak, notably in Residential. Mexico returned to growth, up double-digit against a low base of comparison, led by Buildings and Data Center.

Industrial Automation grew +16.3% organic. There was strong double-digit growth in industrial software at AVEVA which benefitted from contract renewals in E&C and strong growth through distribution channels. Discrete automation also grew double-digit, accelerating strongly in the quarter, while sales into Process & Hybrid automation declined slightly. The U.S. grew double-digit with strong growth at AVEVA and for Discrete automation offers sold into Industrial Manufacturing, E&C and across the Infrastructure end-market. Mid-single digit growth in Canada was led by Discrete automation, with good traction across many industrial segments, and with good services delivery on a project with an E&C customer. Mexico grew double-digit against a low base of comparison with good contributions from Discrete automation offers in Industrial Manufacturing.

Europe (23% of Q3 revenues) grew +8.6% organic in Q3.

Energy Management grew +9.2% organic. Growth was led by the Data Center end-market, notably with regional co-location customers embracing a fully integrated turnkey approach through the Group’s prefabricated solutions. Infrastructure delivered strong growth driven by P&G where utility partnerships and the rollout of SF₆-free solutions supported growth. Buildings delivered good growth overall, led by strength in Non-residential which benefitted from effective commercial actions and continued digital acceleration across distribution channels, while Residential growth was more subdued, and varied by country. Among major economies, growth was led by Germany, up strong double-digit, driven by Data Center and P&G. The U.K. also delivered double-digit growth with strong contribution from Buildings, Industry and Infrastructure. France grew high-single digit led by Data Center, while Italy was up mid-single digit driven by strong momentum in Infrastructure. Spain delivered low-single digit growth against a high base of comparison. Across the rest of the region, growth was high-single digit in aggregate, driven by strong momentum in the Nordics, reflecting ongoing Data Center project execution.

Industrial Automation grew +6.0% organic. Growth was led by AVEVA, which was up strong double- digit, driven by renewals of several multi-year subscription contracts, both on-premise and SaaS, notably in Germany, Switzerland, U.K. and Norway. Sales into both Discrete and Process & Hybrid automation markets grew low-single digit across the region. By country, the U.K. grew double-digit, driven by strong performance at AVEVA and supported by strong growth in Discrete automation. Germany and Spain each delivered high-single digit growth, with Germany benefitting from strong growth at AVEVA and in Discrete Automation while Spain saw strong growth in Process & Hybrid. France was around flat with growth at AVEVA and in Process & Hybrid automation offset by weakness in Discrete automation. Italy was down slightly against a strong double-digit base of comparison. The rest of Europe grew high-single digit in aggregate, supported by good traction in Discrete automation.

China & East Asia (19% of Q3 revenues) grew +26.1% organic in Q3.

Energy Management grew +32.4% organic. China grew strong double-digit with investment in AI infrastructure benefitting several segments. The Data Center segment led growth, both from direct sales to large customers in social media, technology and digital infrastructure and also with domestic and regional co-location customers. The Semiconductor segment drove growth in the Industry end- market, both direct and through OEMs. The Buildings and Infrastructure end-markets were weaker, though the Group has reduced its exposure in Buildings over time, and renewable power generation delivered growth within Infrastructure. East Asia grew strong double-digit, with growth led by Malaysia, Thailand and Indonesia, each benefitting from very strong growth on data center projects, while growth in South Korea and Taiwan was driven by the Semiconductor segment. Elsewhere in East Asia, there was good traction in Industry and Infrastructure projects, compensating for a less dynamic trend in Buildings.

Industrial Automation grew +8.1% organic, led by double-digit growth in Discrete automation, while sales in Process & Hybrid markets and at AVEVA declined. China was up high single-digit, primarily due to strong performance in Discrete automation markets, with strong growth among export OEMs and an improving trend in the domestic market, tied with AI infrastructure buildout, while sales in Process & Hybrid declined. East Asia grew mid-single digit, with strong growth in Process automation led by Thailand, strong growth in Semiconductor notably in Japan, while AVEVA was down slightly due to timing of renewals.

South Asia & International (18% of Q3 revenues) grew +13.2% organic in Q3.

Energy Management grew +16.0% organic. India delivered strong double-digit growth, with broad- based strength across all four end-markets, including particularly strong contributions in Data Center and for backup power and storage for Residential markets. The Middle East & Africa grew double- digit. The Middle East delivered double-digit growth, despite the ongoing geopolitical and macroeconomic tensions in the region, benefitting from strong growth in Data Center, supported by strong momentum with channel partners. Africa was up mid-single digit. Australia grew double-digit, where the Data Center segment continued to be the main driver of growth. South America was down low-single digit, with Chile notably facing a high base of comparison from project execution in Q3’25.

Industrial Automation grew +3.0% organic. India delivered strong double-digit growth, driven primarily by Discrete automation, and supported by the successful development of core product platforms alongside localized portfolio adaptation. South America delivered double-digit growth, led by AVEVA and supported by strong growth in both Discrete and Process & Hybrid automation, notably through E&C project execution in Brazil. Australia was down double-digit, mainly reflecting a specific contract renewal at AVEVA, while traditional automation markets were around flat. The Middle East & Africa saw a high-single digit decline, where the timing of renewals at AVEVA impacted growth in some Gulf countries, and Egypt faced a high base of comparison from project execution in the prior year.

SCOPE¹ AND FOREIGN EXCHANGE² IMPACTS IN Q3

In Q3, net acquisitions/disposals had an impact of -€36 million or -0.4% of Group revenues, mainly reflecting the impact of some small disposals.

Based on transactions completed to-date, the Scope impact on FY 2026 revenues is estimated to be around -€50 million. The Scope impact on adjusted EBITA margin for FY 2026 is estimated to be around flat.

In Q3, the impact of foreign exchange fluctuations was positive at +€114 million or +1.2% of Group revenues, mostly driven by the strengthening of the Chinese Yuan and the U.S. Dollar against the Euro, partly offset by the weakening of the Indian Rupee against the Euro.

Based on current rates³, the FX impact on FY 2026 revenues is estimated to be between -€300 million to -€400 million. The FX impact at current rates on adjusted EBITA margin for FY 2026 could be around flat.

II. SUSTAINABILITY IMPACT 2030

Schneider Electric continued to advance its ambitions across the four strategic pillars of the Group’s sustainability roadmap, combining progress across its own operations with impact delivered through its offers, value chain, people and communities. The Group’s Impact score reached 4.04, on track toward the 2026 target of 4.20/10 (10/10 being the 2030 ambition).

Electrifying the World: Invest in breakthrough solutions and lead the Energy Tech transition by deploying electrification and digitalization, starting with ourselves and scaling for all.

• Schneider Electric continued to decarbonize its operations in Q3, with Scopes 1 and 2 CO₂ emissions reduced by 83% compared to 2017.
• In the first nine months of 2026, Schneider Electric's solutions enabled customers to save or electrify 211 million MWh.

Reinventing our Industry: Engage and elevate the entire value chain to set new standards in the industry by rethinking how we design, source and promote, and engaging suppliers for decent work and decarbonization.

Schneider Electric accelerated progress across its value chain in the third quarter.

• Building on a decade of supplier decarbonization efforts, Schneider Electric is scaling The Zero Carbon Pathway (TZCP) program, with a ninefold increase in the number of suppliers qualifying under the program, from 15 in the first half of 2026 (H1), to 135 suppliers at the end of Q3. This marks progress toward the Group’s ambition of 1,500 qualifying suppliers by 2030.
• Responsible materials reached 22% across the materials and components covered by the program (steel, aluminium, thermoplastics, electronics, electrical components, and packaging) which assesses key materials against environmental and social criteria, including lower embodied carbon, circularity and responsible supply-chain practices.

Unlocking Human Potential: Open the way to progress and shared prosperity by securing energy access for all and investing in skills and people opportunities.

• Schneider Electric has helped 69 million people gain access to sustainable electricity since 2009 with 1.9 million additional people reached compared to H1 results.
• The Group has also equipped 1.5 million young people with skills to advance electrification and sustainability since 2009, including 90,000 additional people since H1, progressing toward its ambition of 3 million by 2030.

Empowering local communities: Promote local ecosystems and amplify grassroots voices by turning sites into community anchors and empowering our people to be agents of change.

• The Group’s Impact Workplaces initiative accelerated sharply in Q3, growing from 5 sites in the first half of the year to 59 sites at the end of Q3. The program applies a multi-criteria framework spanning climate, resource efficiency, people and communities, as Schneider Electric advances toward its ambition of 100 Impact Workplaces by 2030.
• In line with the Group’s conviction that global sustainability impact must be rooted locally, Schneider Electric is empowering its people to drive impact in the communities where they live and work. By the end of Q3, 9% of employees have engaged as Change Agents, with more than 6,000 additional employees completing a volunteering activity during the quarter and the program expanding from 49 to 57 countries.

“The strong results we are seeing nine months into Impact 2030 reinforce our conviction that advancing Energy Tech can power progress for all. Sustainable progress demands that we bring entire ecosystems along with us and build the capabilities needed to turn new technologies into positive outcomes for people, businesses and communities,” said Esther Finidori, Chief Sustainability Officer at Schneider Electric. “From scaling electrification and supplier decarbonization, to investing in skills and strengthening the role of our people and sites in their local communities, we see momentum across multiple Impact 2030 programs, and we look forward to accelerating these further in the quarters ahead.”

For a detailed view of all indicators and progress, please refer to the full Q3 2026 Schneider Sustainability Impact report, including the latest progress dashboard:

III. PORTFOLIO UPDATES

Acquisitions

• PTC Inc. (“PTC”)
  As separately announced, on October 5, 2026, Schneider Electric and PTC Inc., a leader in complex industrial product design, engineering and data management, announced that they have signed a definitive agreement under which Schneider Electric will acquire PTC. The transaction will create a leading, scaled, open and interoperable industrial software and AI franchise, driving business outcomes for customers from any system of design, control, data and intelligence.
  
  Subject to completion of the closing conditions, PTC shareholders will receive $205 per share in cash. The transaction values 100% of PTC equity at approximately $22.6 billion, which implies a $23.7 billion enterprise value. Schneider Electric is focused on delivering disciplined shareholder value creation and expects to achieve €250 million of highly executable cost synergies by Year 3 and approximately €800 million of revenue synergies.
  
  Schneider Electric estimates the transaction would be accretive across key metrics, including revenue growth, recurring revenue mix, gross margin, Adjusted EBITA margin and free cash flow conversion. Schneider Electric expects the transaction to be immediately low single-digit accretive to Adj. EPS (before PPA⁴) in the first year of full consolidation and mid-to high-single- digit accretive to Adj. EPS (before PPA) including full run-rate synergies.
  
  The transaction has been unanimously approved by the Boards of Directors of both companies. Closing of the transaction is anticipated by Q3 2027, subject to customary closing conditions, including approval by PTC’s shareholders holding at least a majority of outstanding PTC shares at a special shareholder meeting and receipt of required regulatory approvals. The PTC Board of Directors resolved to recommend that the Company’s shareholders approve the Merger Agreement.
• Shelly Group (“Shelly”)
  As separately announced, on September 24, 2026, Schneider Electric reached an agreement with Shelly and its two founding shareholders, for the acquisition by way of a voluntary tender offer for 100% of the shares of Shelly, providing all shareholders with a guaranteed liquidity event and a one-time opportunity to realize immediate and certain value in cash, in an all- cash transaction valued at approximately €1.2 bn.
  
  Shelly is a provider of IoT and smart building solutions and the acquisition would combine Shelly’s software-led home energy platform with Schneider Electric's technology leadership across residential, retrofit and small commercial buildings.
  
  Completion of the offer will be subject to Schneider Electric owning more than 95% of the outstanding share capital of Shelly, with a view to proceeding to squeeze out and delist. The transaction is also subject to customary regulatory approvals and is expected to close by Q1 2027.

IV. FINANCING UPDATE

Credit ratings

Following the announcement on October 5, 2026 of the definitive agreement for the acquisition of PTC, on October 6, 2026 both S&P Global Ratings and Moody’s reaffirmed Schneider Electric’s category-A credit ratings, maintaining A / A-1 (Stable) and A2 (Stable) ratings, respectively.

The Group remains committed to retaining category-A credit ratings.

V. SHARE BUYBACK

In March 2026, Schneider Electric appointed Natixis to execute a share buyback program with a target amount of €600 million, to be completed by November 2026. Execution is progressing in line with expectations and remains on track for completion by the end of November.

As of September 30, 2026, the Group had purchased 1.6 million shares for €440 million at an average price of €270 per share.

As of October 12, 2026 (the latest practicable date before this release), the Group has purchased 1.8 million shares for €497 million at an average price of €269 per share.

In line with its recent announcement, Schneider Electric remains committed to its share buyback program of €2.5-€3.5 billion through 2030. The Group expects a pause in 2027 and 2028 with acceleration thereafter, before completion of the program by the end of 2030 within the envelope previously announced.

VI. 2026 FISCAL YEAR DIVIDEND CALENDAR

Dividend ex-date: May 10, 2027
Record date: May 11, 2027
Dividend payment date: May 12, 2027

VII. EXPECTED TRENDS FOR Q4

Maintaining strong execution and operational discipline to achieve our upgraded FY26 target in a dynamic environment:

• All four end-markets to drive growth
• Data Center & Networks to sustain strong momentum; Industry and Infrastructure to contribute strongly; Buildings expected to track macroeconomic trends
• Systems to lead growth; strong Products growth supported by continued pricing momentum
• Sustained momentum in recurring Software revenues; accelerating growth in Services
• All four regions to deliver topline increase, led by U.S., China and India
• Disruption in the Middle East may impact Q4, with potential for pressure on global supply chains and increased inflation
• Disciplined execution of Company program
• Continued pricing momentum expected to offset the value impact of raw material inflation and net tariffs in FY26
• Productivity and operating leverage to contribute positively to adj. EBITA margin

VIII. 2026 TARGET UPGRADED

The Group upgrades its 2026 financial target as follows:

2026 Adjusted EBITA growth of between +18% and +21% organic.

The target would be achieved through a combination of organic revenue growth and margin improvement, currently expected to be:

• Revenue growth of +12% to +14% organic
• Adjusted EBITA margin up +100bps to +120bps organic

This implies Adjusted EBITA margin of around 19.7% to 19.9% (including scope based on transactions completed to-date and FX based on current estimation).

Further notes on 2026 available in appendix

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The Q3 2026 revenues presentation is available at www.se.com

The 2026 Full Year Results will be presented on February 18, 2027.

Contact Details:

Disclaimer: All forward-looking statements are Schneider Electric management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed description of these factors and uncertainties, please refer to the section “Risk Factors” in our Universal Registration Document (which is available on www.se.com). Schneider Electric undertakes no obligation to publicly update or revise any of these forward-looking statements.

About Schneider Electric

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI- powered systems, digital services, and expert advisory. With 160,000 employees and 1 million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.

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Appendix – Further notes on 2026

• Foreign Exchange impact: Based on current rates⁵, the FX impact on FY 2026 revenues is estimated to be between -€300 million to -€400 million. The FX impact at current rates on adjusted EBITA margin for FY 2026 could be around flat
• Scope impact: Around -€50 million on 2026 revenues and around flat on 2026 adjusted EBITA margin, based on transactions completed to-date
• Tax rate: The ETR is expected to be in a 23–25% range in 2026
• Restructuring: The Group expects restructuring costs in FY26 to reach around €450 million in total.

Appendix – Revenues breakdown by business

Q3 2026 revenues by business were as follows:

9M YTD 2026 revenues by business were as follows:

Throughout this document growth percentage calculations are compared to the same period of the prior year, unless stated otherwise.

Appendix – Scope of Consolidation

Notes

1. Changes in scope of consolidation also include some minor reclassifications of offers among different businesses.
2. For those currencies meeting the criteria to be considered hyperinflationary under IAS 29, such as Argentina and Türkiye, an IFRS technical adjustment for hyperinflation impact is reflected as FX and therefore excluded from the organic growth calculation. The effect of operational actions taken in these countries such as increased pricing to mitigate the inflationary impact is reflected as part of the organic growth.
3. Forward exchange rates are volatile and difficult to predict. Consequently, the impact of such movement and possible impacts from hyperinflation technical accounting (IAS29) are not factored at this stage.
4. Purchase Price Accounting impacts as per Schneider Electric definition
5. Forward exchange rates are volatile and difficult to predict. Consequently, the impact of such movement and possible impacts from hyperinflation technical accounting (IAS29) are not factored at this stage.