Fresenius SE & Co. KGaA

Investor Presentation • Feb 22, 2012

Analyst Meeting – 2011 Results

February 21, 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.

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

2 0 1 1 F Y	i i F F e s e n s e s e n s r u r u d i l b i C M K e c a a e a r		i F e s e n s r u l i H e o s	i F e s e n s r u d V a m e
l S a e s h G t r o w	\$ S 2 9 U 1 7 5 m , 6 %	€ 3 9 6 4 m , 8 %	€ 2 6 6 5 m , 6 %	€ 7 3 7 m 3 %
E B I T h G t r o w	\$ S 2 0 U 7 5 m , 8 %	€ 8 0 3 m 9 %	€ 2 0 7 m 1 5 %	€ 4 4 m 7 %

Fresenius Group: Distribution of Sales and Net Income

Analyst Meeting – 2011 Results, Fresenius SE & Co. KGaA, Investor Relations © Copyright, February 21, 2012 Page 6 1Net 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%

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: 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)

Group Financials 2011 ⁻ Outlook 2012

Fresenius Group: Achievements 2011

18%net income growth1

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

Analyst Meeting – 2011 Results, Fresenius SE & Co. KGaA, Investor Relations © Copyright, February 21, 2012 Page 15 1in constant currency and before one-time items

Fresenius Group: Profit and Loss Statement

			h G t t t t t r o w a c o n s a n r a e
€ m	Q / 4 1 1	/ F Y 1 1	Q / 4 1 1	/ F Y 1 1
l S a e s	4 4 3 3 ,	1 6 5 2 2 ,	7 %	6 %
E B I T	0 7 1	2 6 3 5 ,	9 %	9 %
N i t t t e n e r e s	1 3 0 -	5 3 1 -	9 %	4 %
I t n c o m e a e s x	3 1 7 -	6 2 4 -	0 %	% 5 -
1 N i t e n c o m e	2 0 5	7 7 0	2 2 %	1 8 %

Analyst Meeting – 2011 Results, Fresenius SE & Co. KGaA, Investor Relations © Copyright, February 21, 2012 Page 16 1 Net income attributable to Fresenius SE & Co. KGaA and before special items due to MEB and CVR accounting

Fresenius Kabi: Excellent EBIT and Margin Improvement

€ m	/ Q 4 1 1	/ F Y 1 1	/ F Y 1 0	h G t r o w / F Y 1 1
E u r o p e i M a r g n	0 1 1 2 1. % 7	3 8 5 2 1. 1 %	3 9 5 2 1. 1 %	% 7
h N A i t o r m e r c a M i a r g n	8 0 3 2. 4 %	8 3 6 3 6. 7 %	3 3 5 3 4 4 %	1 0 %
f / / f A i P i i L i A i A i t s a a c c a n m e c a c a r r - M i a r g n	6 3 2 0. 9 %	2 3 2 2 0. % 4	1 8 3 8. % 1 4	2 7 %
C d C & R D t t o p o a e a n o p o a e r r r r	5 4 -	8 2 1 -	0 1 4 -	3 0 % -
l T E B I T t o a	9 0 1	8 0 3	3 7 7	9 %
M i a r g n	1 8 7 %	2 0 3 %	2 0 1 %

Fresenius Helios: Strong Sales and EBIT Growth

€ m	Q / 4 1 1	/ F Y 1 1	/ 0 F Y 1	G h t o r w / F Y 1 1
l l T t o a s a e s	7 1 5	2 6 6 5 ,	2 5 2 0 ,	6 %
E B I T
b l h d l f l E i i i i t t s a s e c n c p o r o o M i a r g n	7 7 1 1. 0 %	2 6 7 1 0. 6 %	2 3 5 9 3 %	% 1 7
A i i i t c q u s o n s ( l d ) i t i 1 < c o n s o a o n y r	2 -	6 -
l T E B I T t o a	7 5	2 7 0	2 3 5	1 5 %
i M a g n r	1 0 5 %	1 0 1 %	9 3 %

Fresenius Helios: 2011 Restructuring Plan

	i f l i Y t e a r s n p o r o o
	1 <	1	2	3	4	5	5 >	l T t o a
f l N i i o. o c n c s ( € ) R e v e n u e m	1 6 1	1 3 4	- -	6 8 3 1	4 2 7 1	7 2 1 7	2 5 6 6 2 1,	4 3 2, 3 3 6
T t a r g e E B I T D A i ( % ) m a r g n E B I T D A ( € ) m	- -	3. 0 1. 0	6. 0 -	9 0 1 6. 4	1 2. 0 3 2. 5	1 5. 0 2 5. 7	1 5. 0 2 4 9 2	3 2 4 8
R d t e p o r e ( ) E B I T D A i % m a r g n ( ) E B I T D A € m	- 3. 2 -	2. 6 - 0. 9 -	- -	2. 9 5. 3	1 3. 2 3 5. 7	1 1. 2 1 9 2	1 6. 9 2 8 0. 3	1 4 4 3 3 6. 4
f l N i i t t > o. o n g e c c s a r f l N i i t t < o. o c n c s a g e r	- -	- 1	- -	3 3	2 2	3 4	1 5 1 0	2 3 2 0

IFRS

Fresenius Vamed: Solid Sales and EBIT Growth

€ m	/ Q 4 1 1	/ F Y 1 1	/ F Y 1 0	h G t r o w / F Y 1 1
b P j i t r o e c u s n e s s b S i i e c e s n e s s r v u	8 3 1 7 4	9 4 4 2 4 3	8 4 7 2 2 6	% 1 8 %
l l T t o a s a e s	2 5 7	3 7 7	3 7 1	3 %
l T E B I T t o a i M a r g n	2 2 8 6 %	4 4 6 0 %	4 1 5 8 %	7 %
1 d i k O t e n a e r r 1 d b k l O e a c o g r r	2 6 9 8 4 5	6 0 4 8 4 5	6 2 5 8 0 1	3 % - 5 %

1Project business only

Cash Flow Development

€ m	O e p r a	i C F t n g	C e a p x	( ) t e n	C F e e r a	1 h l F o s w
	/ Q 4 1 1	i F Y M a g n r	/ Q 4 1 1	i F Y M a g n r	/ Q 4 1 1	i F Y M a g n r
	1 1 2	1 1 7 %	( ) 5 7	( ) 4 4 %	5 5	7 3 %
	8 3	0 % 1 1	( 8 ) 7	( 8 % ) 5	5	3 2 % 5
	3 2 -	1 1 3 % -	( ) 2	( ) 0 8 %	3 4 -	1 2 1 % -
Co / te rp or a he O t r	6	/ n a	( 6 )	/ n a	0	/ n a
l. F M C ex c	1 6 9	2 9 7 %	( ) 1 4 3	( ) 4 8 %	2 6	2 4 9 %
G ro up	3 3 5	0 2 % 1	( 2 8 3 )	( 6 % ) 4	2 0 5	6 % 5

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: Financial Outlook

		i d G 2 0 1 2 a n c e u	3 C A G R 1 -y r	i d l k M O t t e m o o r u
i F e s e n s r u b i K a	l h S t a e s g o r w E B I T i m a r g n	4 6 % i o g a n c r – 9 2 0 0 % 1 5 –	8 9 % i o g a n c r –	7 1 0 % i o g a n c r – 8 2 % 1 1 –
i F e s e n s r u l i H e o s	l h S t a e s g o r w E B I T	3 5 % i o g a n c r – 3 0 3 2 0 € 1 m –	4 5 % i o g a n c r –	l b b S € 4 4 2 5 a e s n y – 2 0 1 5 ( l. ) inc Da is i t ion m p ac q u
i F e s e n s r u d V e a m	l h S t a e s g o r w h E B I T t g r o w	5 1 0 % – 0 % 5 1 –	8 1 0 % –	l S a e s € b b 2 0 1 1 4 n y
i F e s e n s r u i h B t o e c	E B I T	€ 2 5 3 0 m ~ - – -

1includes guidance year 2012

Fresenius Group: Financial Outlook

	i d G 2 0 1 2 a n c e u
l h S t a e s g r o w t t t a c o n s a n c u r r e n c y	1 0 1 3 % ‒
h N i t t e n c o m e g r o w t t t a c o n s a n c u r r e n c y	8 1 1 % ‒
C a p e x	f l 5 % G o r o u p s a e s ~

Attachments

Fresenius Group:

Overview – Calculation of Noncontrolling Interest

€ m	2 0 1 1	2 0 1 0
f b d l l E i i i t t t t n n g e o e n n o n o n o n g n e e a r s r a x a c r r s	9 3 2 1 ,	8 6 1 7 ,
T a e s x	6 0 4 -	5 8 1 -
l l h f N i i t t t, t o n c o n r o n g n e r e s e r e o	6 3 8 -	5 8 3 -
d l F i M i C i t t r e s e n u s e c a a r e n e n c o m e n o b b l ( / ) i F i F Y 1 1 6 7 % t t t t a a e o e s e n s a e a g e r u r u v r : ~	5 1 4 -	4 7 6 -
l l h l d d l N i i i F i M i C t t t o n c o n o n g n e e s o e s n e s e n s e c a a e r r r r u r ( / \$ / \$ d F Y 2 0 1 0 U S 8 7 F Y 2 0 1 1 U S 1 0 6 i m m a c c o n g : : r , d l C 's l S ) t F i M i F i i t t t o r e s e n u s e c a a r e n a n c a a e m e n s	7 6 -	6 6 -
l l h l d b N i i i F i K i t t t o n c o n o n g n e e s o e s n e s e n s a r r r r u ( € 2 6 ), l ( € 3 ) d d F i H i 1 t m r e s e n u s e o s m a n u e o - - d 's l h ( ) F i V 2 3 % i € 9 t e s e n s a m e e e n a o n e s p m r u x r w r -	4 8 -	4 1 -
b b l S & C G N i i F i E K A t t t t t e n c o m e a a e o e s e n s o a r u r u	6 9 0	6 2 2

Fresenius Group: Cash Flow

€ m	2 0 1 1	L T M i M a r g n	2 0 1 0	L T M i M a r g n	h G t r o w Y Y o
i h l O C F t p e r a n g a s o w	1, 6 8 9	1 0 2 %	1, 9 1 1	1 2 0 %	1 2 % -
C ( ) t a p e x n e	8 7 5 -	6 % 4 -	3 3 7 -	6 % 4 -	3 % -
C h l F F e e a o r s w f ( b i i i d d i i d d ) t e o r e a c q u s o n s a n v e n s	9 3 1	6 % 5	8 1, 1 7	% 7 4	2 % 1 -
( ) A i i i t t c q u s o n s n e	1, 3 1 4 -		5 0 4 -		1 6 1 % -
d d D i i v e n s	3 6 5 -		3 2 9 -		1 1 % -
C h l F F e e a o r s w ( f i i i d d i i d d ) t t a e r a c q u s o n s a n v e n s	8 7 4 -	% 4 5 -	3 4 5	2 2 %	--

Cash Flow Development LTM

€ m	O p e r a	i C F t n g	( ) C t a p e x n e		1 h l F C F r e e a s o w
	2 0 1 1	i M a r g n	2 0 1 1	i M a r g n	2 0 1 1	i M a r g n
	4 6 2	1 1 7 %	( ) 1 7 3	( ) 4 4 %	2 8 9	7 3 %
	2 9 4	0 % 1 1	( 6 ) 1 5	( 8 % ) 5	3 8 1	3 2 % 5
	8 3 -	1 1 3 % -	( ) 6	( ) 0 8 %	8 9 -	1 2 1 % -
Co / te rp or a he O t r	2 3 -	/ n a	( 3 ) 1	/ n a	3 6 -	/ n a
l. F M C ex c	6 5 0	2 9 7 %	( ) 3 4 8	( ) 4 8 %	3 0 2	2 4 9 %
G ro up	6 8 9 1 ,	0 2 % 1	( 8 ) 7 5	( 6 % ) 4	9 3 1	6 % 5

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: Solid Balance Sheet Structure

Fresenius Group: Debt and Interest Ratios

Analyst Meeting – 2011 Results, Fresenius SE & Co. KGaA, Investor Relations © Copyright, February 21, 2012 Page 29 Debt excludes Mandatory Exchangeable Bonds which came to maturity on August 14, 2011

Fresenius Group: Debt Maturity Profile¹ December 31, 2011

1Based on utilization of major financing instruments

Fresenius Kabi: Strong Organic Sales Growth

€ m	2 0 1 1	2 0 0 1	O i g a n c r G h t o r w
f h I i T n s o n e a p u r y	8 9 5	8 4 3	4 %
I. V D g s r u	1 4 3 8 ,	1 3 2 8 ,	1 2 %
l l C i i N i i t t n c a u r o n	1 1 5 4 ,	1 0 6 2 ,	9 %
d l / M i D i e e e c a v c s f h l T i T r a n s u s o n e c n o o g y	4 7 7	3 9 4	8 %
l l T t o a s a e s	3 9 6 4 ,	3 6 2 7 ,	9 %

Fresenius Kabi: Strong Organic Sales Growth

€ m	2 0 1 1	2 0 1 0	i O r g a n c h G t o r w
E o p e u r	8 2 6 1 ,	0 2 1 7 ,	6 %
h N A i t o r m e r c a	0 0 2 1 ,	9 7 5	% 7
f A i P i i s a a c c -	7 0 2	5 9 3	1 8 %
/ f L i A i A i t a n m e c a c a r r	4 3 4	4 0 2	1 0 %
l l T t o e a s a s	3 9 6 4 ,	3 6 2 7 ,	9 %

Fresenius Kabi: Profit and Loss Statement

€ m	2 0 1 1	2 0 0 1	k 2 0 R 1 1 e m a s r
l S a e s f C d l d t o o g o o o s s s f G i t o s s p o r r	3 9 6 4 , 2 1 1 7 - , 1 8 4 7 ,	3 6 7 2 , 9 6 1 1 - , 1 7 1 1 ,	h 9 % i t o r g a n c g r o w
% f l o s a e s S G & A	6 6 4 8 8 2	6. 6 4 8 3 1
% f l o s a e s	- 2 2 3	- 2 2. 6
R & D e x p e n s e s f % l o s a e s	1 6 2 - 4 1	1 4 3 - 3. 9
E B I T D A i % m a r g n	9 5 5 2 4 1	8 9 3 2 4 3

Fresenius Kabi: Profit and Loss Statement (cont'd)

€ m	2 0 1 1	2 0 1 0	k R 2 0 1 1 e m a r s
E B I T i % m a g n r	8 0 3 2 0 3	7 3 7 2 0. 1
N i t t t e n e r e s	8 2 7 -	2 9 7 -
b f E i t a r n n g s e o r e a x e s d l l i i t t t a n n o n c o n o n g n e e s r r	5 2 5	4 5 8
I t n c o m e a x e s T % t a x r a e	1 4 5 - 2 7 6	2 1 4 - 3 1. 0	b 2 0 1 0 D i U S i r v e n y e a r n n g s b i i i t t c o n o n c a n g a r u r r y
l l N i i t t t o n c o n o n g n e e s r r	2 6 -	2 2 -	h i h t t g e r a x r a e
1 i N t e n c o m e	3 5 4	2 9 4

1Attributable to Fresenius Kabi AG

Fresenius Kabi: Cash Flow Statement

€ m	2 0 1 1	2 0 0 1	k R 2 0 1 1 e m a r s
N i t e n c o m e ( i l. l l i i ) t t t n c n o n c o n r o n g n e r e s	8 3 0	3 1 6
/ D i i i i t t t e p e c a o n a m o a o n r r z	1 5 2	1 5 6
h k l C i i i t a n g e n o n g c a p a w r	7 0 -	9 5
C h f l f i t a s o w r o m o p e r a o n s	6 2 4	6 5 7
M i % g n a r	1 1. 7	1 5. 4
C A P E X t n e ,	1 7 3 -	1 6 6 -	d 7 1 % i i t s c e o n a r r y, d 2 9 % i i t
h f l C a s o w b f d d d d i i t i i i e o r e a c q u s o n s a n v e n s	2 8 9	4 0 1	n o n- s e o n a c r r y
i i i A t t c q s o n s n e u ,	1 1 -	9 1 -
f h l F e e c a s o ( b f d d d ) r w i i e o e e n s r v	2 8 7	3 8 2

Fresenius Kabi: Balance Sheet

€ m	2 0 1 1	2 0 1 0	k 2 0 R 1 1 e m a s r
b l A i t c c o n s e c e a e u r v	7 1 0	6 8 1	S O 2 0 6 6 d ( 2 0 0 6 8 ) D 1 1 1 : a y s :
I i t n v e n o r e s	3 7 7	0 6 6	d ( ) S O I 2 0 1 1 1 2 7 2 0 1 0 1 2 3 : a y s :
d F i t e a s s e s x	5 0 5 6 ,	4 9 7 2 ,	G d i l l ( 3 2 0 ) € 3, 9 3 D 1, 1 1 7 o o w e c : m
O h t t e a s s e s r	9 7 7	5 4 7
l T t t o a a s s e s	7 2 8 2 ,	6 8 6 0 ,
b D t e	3 9 4 5 ,	2 9 8 4 ,
h l b l O i i i i t t e a e s r	1 2 7 7 ,	1 2 0 1 ,
E i t ( l. l l ) q u y i i i t t. n c n o n c o n o n g n r	6 0 1 1 ,	3 6 1 1 ,
l l i b i l i i d T t t o a a e s a n h h l d ' i t s a r e o e r s e q u y	7 2 8 2 ,	6 8 6 0 ,

Fresenius Helios: Strong Organic Sales Growth

€ m	2 0 1 1	2 0 1 0	h G t r o w
b l h d l f l i i i i E t t s a s e c n c p o o o r	2 6 1 3 ,	2 5 2 0 ,	4 %
A i i i t q o n ( l d ) c u s s i i 1 t < c o n s o a o n y r	5 2
i i D t t e s e s ( d l d ) v u r i t i 1 < e c o n s o a o n y r		0
l l T t o a s a e s	2 6 6 5 ,	2 5 2 0 ,	6 %

Fresenius Helios: Performance Indicators

	2 0 1 1	2 0 0 1	C h a n g e
f h l N i t o o o s p a s l A i i t e a e n s c u c r c c - l P i i t- t o s a e a e n s c u c r c c -	6 5 4 5 2 0	6 2 4 2 2 0	5 % 7 % 0 %
f b d N o o e s l A i i t c e c a e c n c s u r - l P i i t- t o s a c e c a e c n c s u r -	2 0 1 1 2 , 1 6, 6 9 0 3, 4 2 2	1 8 5 6 4 , 1 5, 0 9 7 3, 4 6 7	8 % 1 1 % -1 %
1 d A i i m s s o n s ( ) A i i t t t c e c a e n p a e n u r -	3 2, 8 6 7 7	0 8 8 0 6 6,	4 %
1 O c c p a n c u y P t- t o s a c u e c a r e -	7 8 %	8 0 %
1 f l h ( d ) A t t e a g e e n g o s a a s v r y y A t c u e c a r e - P t- t o s a c u e c a r e -	6. 7 2 9 6	6. 9 2 9 5

Fresenius Helios: Sales Influence Hospital Acquisitions

i i i A t c q s o n s u	l i d A n n a e u z	l s a e s
l l d H i H t t t, o s p a e m s e L S o e a o n w r x y	€ 3 2 m ~	l d d f i J 1 2 0 1 1 t c o n s o a e a s o a n ,
l l, i i H t R t t o s p a o e w d b B W t t a e n e e m e g u r r -	€ 3 1 m ~	l d d f l i J 1 2 0 1 1 t c o n s o a e a s o u y ,
i i D t t e s e s v u r
N o n e
i i i A 2 0 1 2 t c q s o n s u
G l. l D i i W i a m p r o u p e x c c n c s m a r, h G N t o r e r n e r m a n y	€ 2 4 7 m ~	l d d d f Q / i i 1 t t c o n s o a o n e x p e c e e n o b f Q 2 / 2 0 2 i i 1 e g n n n g o
l b H i D i t o s p a u s u r g ,
h h h l N R i W i t t o r n e e s p a a -	€ 1 3 4 m ~	l d d f i J 1 2 0 1 2 t c o n s o a e a s o a n ,

Fresenius Helios: Profit & Loss Statement

€ m	2 0 1 1	2 0 0 1	k 2 0 R 1 1 e m a s r
l S a e s	2 6 6 5 ,	2 2 0 5 ,
O i t p e r a n g e x p e n s e s : l d b f S i i t a a r e s, w a g e s a n e n e s	9 1, 5 7 -	9 0 1, 4 -
S l i u p p e s	0 5 7 -	9 4 1 -
h O t e s r	2 0 1 -	2 2 1 -
E B I T D A M i % a g n r	3 6 9 1 3 8	3 1 8 1 2. 6
/ D i i i i t t t e p r e c a o n a m o r z a o n	9 9 -	8 3 -
E B I T % M i a r g n	2 0 7 0 1 1	2 3 5 9 3

Fresenius Helios: Profit & Loss Statement (cont'd)

€ m	2 0 1 1	2 0 1 0	k 2 0 R 1 1 e m a s r
N i t t t e n e e s r	5 1 -	5 5 -
b f d E i t a r n n g s e o r e a x e s a n l l i i t t t n o n c o n o n g n e e s r r	2 1 9	1 8 0
I t n c o m e a x e s % T t a x r a e	4 3 - 9 6 1	3 7 - 2 0. 6
l l N i i t t t o n c o n r o n g n e r e s	1 3 -	1 2 -
1 N i t e n c o m e	6 3 1	3 1 1

1Attributable to Helios Kliniken GmbH

Fresenius Helios: Cash Flow

€ m	2 0 1 1	2 0 1 0	k R 2 0 1 1 e m a r s
N i t ( l. l l ) e n c o m e i i i t t t n c n o n c o n o n g n e e s r r	6 1 7	3 1 4
/ D i i i i t t t e p r e c a o n a m o r z a o n	9 9	8 3
C h k l i i i t n g e n o n g p a w r c a a	9 1	8 5
f f C h l i t o o m o p e o n a s w r r a s M i % a r g n	2 9 4 1 1. 0	3 1 1 1 2. 3
C A P E X t n e ,	1 5 6 -	1 6 1 -
h f l C a s o w b f i i i d d i i d d t e o r e a c q u s o n s a n v e n s	8 1 3	1 5 0
A i i i t t c q s o n s n e u ,	4	1 3 -
h f l F e e c a s o ( b f d i i d d ) r w e o r e v e n s	1 4 2	1 3 7

Fresenius Helios: Balance Sheet

€ m	2 0 1 1	2 0 1 0	k 2 0 R 1 1 e m a s r
b l A i t o n s e e a e c c u r c v	2 8 3	2 6 1	d ( ) D S O 2 0 1 1 3 9 2 0 1 0 3 8 a s : y :
l d P i t t t o p e p a n a n e q p m e n ( ) r r y u t n e ,	1 1 7 4 ,	1 0 8 8 ,
d l l G i o o w	1 7 2 1 ,	1 5 9 9 ,	l. d l l f h I i H E L I O S t n c g o o o m e w r
O h t t e e r a s s s	3 1 7	3 2 2	( € 2 ) i i t i 1, 4 4 a c q u s o n m
l T t t o a a s s e s	3 9 4 5 ,	3 2 0 7 ,
b D t e	0 1 1 4 ,	0 9 6 1 ,	l. d b f I H E L I O S t n c e r o m ( ) i i i i 2 0 0 5 € 6 0 0 t a c s o n n m u
h l b l O i i i i t t e a e s r	8 2 8	7 7 3	q
E i t q u y ( i l. l l i i ) t t t n c n o n c o n r o n g n e r e s	1 5 6 3 ,	1 4 0 1 ,	% E i t t i 4 4 7 q u y r a o :
l l i b i l i i d T t t o a a e s a n h h l d ' i t a e o e e s r r s q u y	3 9 4 5 ,	3 2 0 7 ,

Fresenius Vamed: Sustainable EBIT Development

€ m	2 0 1 1	2 0 0 1	h C a n g e
b P j i t o e c s n e s s r u i M a r g n	2 8 5. 7 %	2 3 4 7 %	2 2 %
b S i i e c e s n e s s r v u M i a g n r	1 6 6. 6 %	8 1 8. 0 %	1 1 % -
l T E B I T t o a	4 4	4 1	% 7
i M a g n r	6 0 %	8 % 5
1 i N t e n c o m e	3 4	3 0	3 % 1

1Attributable to Vamed AG

Fresenius Vamed: Profit & Loss Statement

€ m	2 0 1 1	2 0 1 0	k R 2 0 1 1 e m a r s
S l e a s	3 7 7	3 7 1	h O i 4 % t g a n c g o r r w :
f C d l d t o o g o o o s s s	6 2 8 -	6 0 4 -
f G i t o s s p o r r M i % a r g n	0 9 1 1 4 8	0 9 1 1 5. 3
S G & A % f l o s a e s	6 5 - 8 8	8 6 - 9 5
E B I T D A M i % a g n r	5 1 6 9	4 9 6. 9
E B I T M i % a r g n	4 4 6 0	4 1 5. 8

Fresenius Vamed: Profit & Loss Statement (cont'd)

€ m	2 0 1 1	2 0 1 0	k R 2 0 1 1 e m a s r
N i t t t e n e r e s	2	2	d I i t t t n e r e s n c o m e u e o
b f E i t a r n n g s e o r e a x e s d l l i i t t t a n n o n c o n o n g n e e s r r	4 6	4 3	t p r e p a y m e n s
I t n c o m e a e s x T % t a a e x r	1 1 - 2 4 2	1 2 - 8. 2 3
l l i i N t t t o n c o n o n g n e e s r r	1 -	1 -
1 i N t e n c o m e	3 4	3 0
O ( b f ) % R E t e o r e a x e s	2 0 1	2 9 1

1Attributable to Vamed AG

Fresenius Vamed: Cash Flow

€ m	2 0 1 1	2 0 1 0	k 2 0 R 1 1 e m a s r
N i t e n c o m e ( i l. l l i i ) t t t n c n o n c o n r o n g n e r e s	3 5	3 1
/ D i i i i t t t e p r e c a o n a m o r z a o n	7	8
h k l C i i i t a n g e n w o r n g c a p a	1 2 5 -	8
h f l f C i t a s o w r o m o p e r a o n s i % M a r g n	8 3 - 3 -1 1.	4 7 6. 6
C A P E X t n e ,	6 -	9 -
h f l C a s o w b f d d d d i i i i i t e o e a c q s o n s a n e n s r u v	8 9 -	3 8
i i i A t t c q s o n s n e u ,	1	4 -
h f l F e e c a s o ( b f d d d ) r w i i e o r e v e n s	8 8 -	3 4

Fresenius Vamed: Balance Sheet

€ m	2 0 1 1	2 0 0 1	k 2 0 R 1 1 e m a s r
b l A i t c c o u n s r e c e v a e	9 0	8 5	d ( ) D S O 2 0 1 1 4 5 2 0 1 0 4 4 a s : y :
l d i P t t t o p e p a n a n e q p m e n r r y u ,	2 8	2 6
b l I i t t n a n g e a s s e s	5 2	5 3
O h t t e r a s s e s	4 2 4	3 8 5	h h l C & C i t e q e n a s a s u v a s
l T t t o a a s s e s	9 5 4	9 5 4	( D 3 1, 2 0 1 1 ) € 8 8 e c : m
b D t e	4 4	6 1
h l b l O i i i i t t e r a e s	3 3 1	3 3 7
E i t q ( l. l l ) u y i i i t t t n c n o n c o n o n g n e e s r r	9 2 1	9 1 6	( ) E i R i D 3 1, 2 0 1 1 t t q o e u y a c :
l l i b i l i i d T t t o a a e s a n h h l d ' i t s a e o e s e q r r u y	9 5 4	9 5 4	3 6. 9 %

Fresenius Group: Key Figures According to IFRS

€ m	2 0 1 1 S G U A A P	2 0 1 1 S I F R
l S a e s	2 2 1 6 5 ,	1 6 5 2 2 ,
E B I T	2 5 6 3 ,	2 5 4 6 ,
N i t t t e n e r e s	3 5 1 -	3 5 1 -
1 i N t e n c o m e	6 9 0	6 8 7
2 N i t e n c o m e	7 7 0	7 5 8
f O i C h l t p e a n g a s o r w	6 8 9 1 ,	6 9 9 1 ,
l h l B t t t a a n c e s e e o a	2 6 3 2 1 ,	2 6 5 1 0 ,

1Net income attributable to Fresenius SE & Co. KGaA

2Net income attributable to Fresenius SE & Co. KGaA before special items due to MEB and CVR accounting

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 3r^d quarter 2012

Contact

Birgit Grund SVP Investor Relations Fresenius SE & Co. KGaA Telephone: +49 6172 608-2485 e-mail: Birgit.Grund@fresenius.com

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