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Fresenius SE & Co. KGaA

Investor Presentation • Feb 29, 2012

166_ip_2012-02-29_2cddb905-1acc-4d7f-bf16-5a1432d40ce9.pdf

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Citigroup - Global Health Care Conference

February 28, 2012

Safe Harbor Statement

This presentation contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation.

Achieving Profitable Growth in Attractive Health Care Segments

Fresenius Medical Care is fully consolidated in the financial statements of Fresenius SE & Co. KGaA

2011 – A Successful Year for Fresenius

    • Excellent results for sales and earnings – exceeding 2010 record year; 18% net income growth significantly above initial 8 to 12% constant currency guidance
  • -EBIT margin improvement in all business segments
  • -Portfolio balance and earnings diversification further improved
    • Recent acquisitions strengthen position as a leading diversified health care group and point to significant 2012 growth

Fresenius Group: Financial Results

Sales 5-year CAGR: 10%

EBIT5-year CAGR: 12%

Net Income5-year CAGR: 17%

Group financial results before APP-transaction-related special items

Fresenius Group: Financial Results by Business Segment

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Fresenius Group: Distribution of Sales and Net Income

Net income attributable to Fresenius SE & Co. KGaA and before special items due to MEB and CVR accounting

Fresenius: Attractive Long-term Shareholder Returns

19th consecutive dividend increase2011 proposal: +10%, €0.95 per share

Compounded annual total return 2002 − 2011

1Proposal

Source: Bloomberg; dividends reinvested

Fresenius Kabi: Achievements 2011

    • Excellent Q4 organic sales growth of 7% – on a challenging Q4/10 base
    • 9% organic sales growth in FY/11, 20.3% EBIT margin – exceeding guidance
    • 9% organic sales growth outside North America
  • 6% organic growth in Europe
  • dynamic growth in emerging markets, e.g. China 20%
    • 7% organic sales growth in North America beating 2010 record year
  • new launches and drug shortage-related sales
    • New mid-term EBIT margin guidance: 18 – 21% (previously: 18 – 20%)

Fresenius Kabi: A Global Leader in Generic IV Drugs

Sales by product segment and org. growth Excellent track record – 3-year Sales CAGR: 18%

Sales 2011: €1,438 m

Fresenius Kabi's top ten IV drug markets

CAGR: 2008 incl. APP proforma full year

Fresenius Helios: Achievements 2011

  • Excellent financial results
    • 4% organic sales growth; 80 bps EBIT margin increase to 10.1%
  • Significant acquisition activity strengthens regional clinic network
    • Duisburg hospital consolidated as of December 31, 2011; €134 million revenue
    • Damp Group – closing expected end Q1/ beginning Q2; €427 million revenue (ex Wismar clinic; divested as planned for antitrust reasons)
  • New 2015 sales guidance (incl. Damp acquisition): €4 billion – €4.25 billion (previously: €3.5 billion)

HELIOS hospital network pro forma, including Damp Group

Fresenius Helios: Hospital M&A-Activity

Fresenius Vamed: Achievements 2011

    • Sales growth (+3%) and EBIT improvement (+7%) despite tough comparables and Middle East/North Africa unrest
    • Order intake – quarterly record of €269 million in Q4/2011
    • €109 million hospital turnkey project, Gabon – Phase 2 Central Hospital Libreville
    • €24 million medical equipment projects in China incl. maintenance/service
    • VAMED delivers attractive returns due to sustainable sales and earnings growth, low capital intensity

    • 1 in Group on 5-yr organic sales CAGR

Fresenius Group: Financial Outlook

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Fresenius Group: Financial Outlook

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Fresenius Group: Ideal Strategic Posture to Benefit from Major Healthcare Trends

Aging population and increasing demand for health care World population age 60+ will more than double by 2050 to >2 billion (OECD)

Dynamic emerging market growth

Increasing healthcare coverage and per capita spending (e.g. India: US\$44, China: US\$191, vs. USA: US\$7,960; WHO)

Continuing growth of generics

Approx. US\$20 bn branded IV drugs (base: 2010 sales) go off-patent in the U.S. by 2020

Rise of private providers in healthcare services

Further privatization of German hospital market Global opportunity to provide dialysis services (e.g.: China, India)

Attachments

Fresenius Group: Achievements 2011

18% net income growth 1

15.5%EBIT margin

10.2%cash flow margin

Net debt/EBITDA 2.8x despite €1.4 bn acquisition spending

Set the stage for further growth

Citigroup Global Health Care Conference, Fresenius SE & Co. KGaA, Investor Relations © Copyright, February 28, 2012 Page 18 1in constant currency and before one-time items

Fresenius Group: Profit and Loss Statement

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1 Net income attributable to Fresenius SE & Co. KGaA and before special items due to MEB and CVR accounting

Fresenius Group: Cash Flow

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Cash Flow Development LTM

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1 Before Acquisitions and Dividends

2 Incl. FMC dividend

3 Understated: 7.1% excluding €50 million of capex commitments from acquisitions

Margin = in % of sales

Fresenius Group: Debt and Interest Ratios

Debt excludes Mandatory Exchangeable Bonds which came to maturity on August 14, 2011

Fresenius Kabi: Strong Organic Sales Growth

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Fresenius Kabi: Strong Organic Sales Growth

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Fresenius Kabi: Excellent EBIT and Margin Improvement

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Fresenius Helios: Strong Sales and EBIT Growth

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Fresenius Helios: 2011 Restructuring Plan

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Fresenius Helios: Performance Indicators

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1Clinics in Germany

Fresenius Vamed: Solid Sales and EBIT Growth

€
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%

1Project business only

Share Information

Share key facts

Number of shares1 163,237,336 Ticker symbol FRE Bloomberg symbol FRE GR Reuters symbol FREG.de

WKN / ISIN 578560 / DE0005785604

ADR key facts

Ticker symbol FSNUY Exchange OTC-market Depositary bank Deutsche Bank

Ratio 8 ADRs = 1 ordinary share ADR CUSIP / ISIN 35804M105 / US35804M1053 Structure Sponsored Level I ADR

1as of December 31, 2011

Financial Calendar

  • 03.05.2012 Report on 1st quarter 2012 11.05.2012 Annual General Meeting, Frankfurt/Main
  • 12.06.2012 Capital Market Day Fresenius Kabi
  • 01.08.2012 Report on 1st half 2012
  • 31.10.2012 Report on 1st 3rd quarter 2012

Contact

Birgit Grund SVP Investor Relations Fresenius SE & Co. KGaA Telephone: +49 6172 608-2485 e-mail: [email protected]

For further information and current news: http://www.fresenius.com

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