Global leadership in the digital transformation of energy management and automation systems in the low and medium voltage segment. Balanced geographic diversification and customer distribution. Well positioned to take advantage of global megatrends, namely energy efficiency, decarbonization, decentralized power production, and connectivity. Exposure to commodity prices and to the performance of construction markets in the different regions. Strongly acquisitive strategy (software companies AVEVA and I.G.E-X.A.O., U.S.-based ASCO Power, and the announced takeover of Larsen&Toubro with Temasek in India) Shareholder-friendly financial policy consisting of generous dividend payouts (50%-60%) and share buybacks (€1 billion by mid-2019). We expect to see Schneider generating FOCF in excess of €2 billion per year over 2018-2020. At the end of the first half of
