Fresenius SE & Co. KGaA

Investor Presentation • Jun 30, 2011

Nomura Healthcare Conference

June 30, 2011

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

Fresenius Group: Financial Results

5-year CAGR: 10%

EBIT5-year CAGR: 14%

Net Income5-year CAGR: 19%

Group financial results before APP-transaction-related special items

Fresenius Group: Excellent Start into 2011

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

Nomura Healthcare Conference, Fresenius SE & Co. KGaA, Investor Relations © Copyright, June 30, 2011 Page 5 1Net income attributable to Fresenius SE & Co. KGaA and before special items due to MEB and CVR accounting

Fresenius Group: Financial Results by Business Segment

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

Fresenius Kabi: Update Q1/11

• • Excellent start into the year
• -Record organic sales growth of 16%
• 20.5% EBIT margin
• • 39% organic sales growth in North America
• Drug-shortage-related sales expanded in March 2010
• 2010/11 product launches, e.g. Gemcitabine, Aztreonam, Topotecan
• • 10% organic sales growth outside North America
• -Continued strong emerging markets growth
• Europe performing well at 8%

Fresenius Helios: Update Q1/11

• 5% organic sales growth at upper end of expectations; strong EBIT margin of 9.0%
• YTD 2011 slight revival of hospital privatization activity; ~10 transactions pending/concluded
• 264-bed Rottweil hospital (South/West) bid accepted, closing expected for Q3 2011
• Collective bargaining agreements for doctors/nurses successfully concluded, average pay rise of 2-3% p.a. through December 2012; in line with budget assumptions

Fresenius Vamed: Update Q1/11

• Sales and EBIT development fully in line with expectations
• Order backlog at all-time high (€842 million)
• Order intake (€127 million)
• Turnkey construction project in the Ukraine (€67 million)
• • Medical equipment contract from the National Cancer Institute of Malaysia (€29 million)

Fresenius Group: 2011 Outlook Raised or Fully Confirmed

		P i r e v o u s	N e w
i F r e s e n u s M d i l C e c a a r e	S l h t a e s g r o w N i t e n c o m e	S \$ b U 1 2 8 1 3 0 n – \$ U S 0 3 0 1, 5 1, 5 5 m –	S \$ b U 1 3 0 n > \$ U S 0 0 0 9 0 1, 7 1, m –
i F r e s e n u s K b i a	S l h t a e s g r o w E B I T i m a r g n	% i 5 o r g a n c ~ 1 9 0 % >	% i 5 o r g a n c > 1 9 2 0 % –
F i r e s e n u s l i H e o s	S l h t a e s g r o w E B I T	3 % i 5 o r g a n c – € 2 5 0 2 6 0 m –	h l f f U p p e r a o r a n g e
i F r e s e n u s V d a m e	S l h t a e s g r o w E B I T h t g r o w	% 5 1 0 – 1 0 % 5 –
F i r e s e n s u B i h t o e c	E B I T	€ 3 0 m ~ -

Fresenius Group: 2011 Outlook Raised or Fully Confirmed

	P i r e v o u s	N e w
R h t e v e n u e g r o w t t t a c o n s a n c u r r e n c y	% 7 	8 % 7 –
1 N i h 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 2 % 1 –	2 % 1 1 6 –
C a p e x	% f G l 5 o r o u p s a e s ~

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

Fresenius Group: Where are we Heading Mid term?

Additional growth through small / mid-sized acquisitions

Focus on quality and cost leadership

Mid-term stretch financial goal: Group net income >€1 bn by 2014

Attachments

Fresenius Group: Profit and Loss Statement

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

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

Fresenius Group: Cash Flow

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

Cash Flow Development LTM

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

1 Before Acquisitions and Dividends

2 Incl. FMC dividend

3 Understated: 9.9% excluding €67 million of Capex commitments from acquisitions

Margin = in % of sales

Fresenius Group: Debt and Interest Ratios

Debt excludes Mandatory Exchangeable Bonds

Fresenius Kabi: Strong Organic Sales Growth

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

Fresenius Kabi: Strong Organic Sales Growth

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

Fresenius Kabi: Excellent EBIT Growth

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

Fresenius Helios: Excellent Sales and EBIT Growth

€ m	/ Q 1 1 1	/ Q 1 1 0	G h t r o w
T l l t o a s a e s	8 6 4	8 6 0	% 7
E B I T
b l i h d l i i f l i E t t s a s e c n c p o r o o M i a r g n	8 5 % 9. 1	2 5 % 8. 6	2 % 1
/ i i i i i A D t t t c q s o n s e s r e s u v u ( / ) l i d i d l i d i 1 t t c o n s o a o n e c o n s o a o n r < y	0	0
l T E B I T t o a	8 5	2 5	2 % 1
M i a r g n	9 0 %	8 6 %

Fresenius Helios: 2010 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 i i N o. o c n c s ( ) R € e e n e m v u	- -	- -	6 1 8 6	4 2 6 1	7 1 7 5	- -	2 5 1, 6 0 7	4 2 2, 2 2 9
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 -	6. 0 1 1. 2	9. 0 2 3. 5	1 2. 0 2 0. 9	1 5. 0 -	1 5. 0 2 4 1. 1	2 9 6. 7
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	- -	- -	4. 0 7. 5	1 0. 8 2 8. 2	1 1. 9 2 0. 8	- -	1 5. 8 2 5 4. 2	1 3. 9 3 1 0. 7
f l i i N t t o. o c n c s a r g e > f l i i N t t o. o c n c s a r g e <	- -	- -	3 3	3 1	4 3	- -	1 4 1 1	2 4 1 8

IFRS

Fresenius Helios: Performance Indicators

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

Dec 31, 2010

2Clinics in Germany

Fresenius Vamed: Sales and EBIT Fully in Line with Expectations

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

2Dec 31, 2010

Financial Calendar

0 2 0 8 2 0 1 1	t R h l f 2 0 t 1 s 1 1 e p o r o n a
0 2 2 0 1 1 1 1	d t – R 3 2 0 t 1 s r t 1 1 e p o r o n q u a r e r

Contact

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