Fresenius SE & Co. KGaA

Earnings Release • Oct 7, 2009

Health Care Worldwide

Deutsche Bank – Leveraged Finance Conference September 30, 2009 – Phoenix

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.

Financial Overview of the Fresenius Group

Market Cap.2 \$13.9 bn

1 - based on market capitalisation of FSE and FMC as of September 17, 2009 and consolidated net debt as of June 30, 2009

2 - as of September 17, 2009 3 - as held by Fresenius ProServe GmbH, a wholly owned subsidiary of Fresenius SE 4 - excl. special items related to APP-acquisition

Fresenius Group: Financial Results

1 - group financial results before APP-transaction related special items

2 - before minority interest

3 - adjusted according to new accounting rule SFAS 160

Fresenius Group: Financial Results H1/09

	S l E B I T a e s		N i * t e n c o m e
	€ 6 8 9 5 m ,	€ 9 8 5 m	€ 2 4 0 m
G h t t t t r o a c o n s a n w t c r r e n c r a e s u y	1 5 %	2 0 %	1 0 %
G h l t t t r o w a a c u a t c u r r e n c y r a e s	% 2 1	% 2 6	% 1 3

* Net income attributable to Fresenius SE and before special items due to MEB and CVR accounting

Fresenius Group: Financial Results by Business Segment H1/09

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

Fresenius Medical Care: Update H1/09

• Strong organic growth of 8 % on target for full year 2009
• Further improvement in quality performance metrics in both products and services
• Expect EBIT margin improvement in H2/09
• Continued acceptance and expansion of new products and therapies worldwide

Fresenius Kabi: Track record of strong Growth and Profitability

Fresenius Kabi: Update H1/09

• Strong organic sales growth of 7 % (excl. APP + Dabur)
• Emerging markets accelerating slightly

• German market performing well at 4 %

• APP Pharmaceuticals

• 18 % sales growth in USD, EBIT margin expansion to 31.7 %
• Modest growth in FY/09 in non-Heparin portfolio expected
• Product launches behind business plan
• 34 ANDA's pending with the FDA (2008: 31); in total, over 70 product candidates under development

Fresenius Helios: Significant German hospital privatisation opportunity

• Fresenius Helios is one of the three largest operators of private hospitals in Germany
• 62 hospitals including 5 maximum care clinics
• Acquired 6 hospitals in 2006, 5 hospitals in 2007, 1 hospital in 2008 and completed the acquisition of 5 additional hospitals in Q1/2009
• Germany is Europe's largest hospital market (~€65 billion market size)
• Only ~14 %1 of German acute hospital beds managed by private operators; privatisation trend expected to gain pace
• Market provides value-creation opportunity for efficient players with superior medical quality
• Superior growth and margin profile of Fresenius Helios
• 1 German Federal Statistics Office, as of 2006

Fresenius Helios: Update H1/09

• Strong organic sales growth of 5 %; 130 bps EBIT margin increase in established clinic portfolio
• Krefeld/Huels hospital confirmed to achieve positive EBIT in 2009; integration of newly acquired hospitals in Northeim and Mansfeld on track
• Privatization activity expected to pick-up in 2010; management capacity determines rate of acquisition growth

Fresenius Vamed: Update H1/09

• Strong sales growth driven by project and service businesses
• Project business: € 50 million contract signed to upgrade the maximum care hospital in Cologne-Merheim

• Service business: technical management contract with university clinic Charité Berlin prolonged until end of 2012

• Q2/09 order intake: +51 % to 68 €m

Fresenius Group: Debt and Cash Flow Structure 1

1 external debt as of June 30, 2009 2 - incl. Fresenius Finance B.V. and other financing subsidiaries

3 as held by Fresenius ProServe GmbH, a wholly owned subsidiary of Fresenius SE, which provides the guarantees 4 - incl. subsidiaries

Fresenius Group: Debt and Interest Ratios

1 – Pro forma APP acquisition and before special items

2 – debt excl. Mandatory Exchangeable Bond

Fresenius Group: Debt Maturity Profile as of June 30, 20091

Dt Bank Lev Fin Conf_September 30, 2009 © Copyright Page 15 1 – based on utilization of major financing instruments; excl. FMC Accounts Receivable Facility

Fresenius Business Segments: Financial Outlook 2009

i d i l C F M r e s e n s e c a a r e u	S l a e s E A T	\$ b 1 1 1 n > \$ 8 5 0 8 9 0 m –
i b i F K r e s e n s a u	( ) S l h t a e s g r o c c w 1 i E B I T m a r g n	% 2 5 3 0 – % 1 9 5 2 0 5 –
F i H l i r e s e n u s e o s	S l a e s E B I T	€ 2 3 b n > € 1 9 0 2 0 0 m –
F i V d r e s e n u s a m e	S l h t a e s g r o w E B I T h t g r o w	0 % 1 ~ 0 % 1 ~
F i B i h t r e s e n s o e c u	E B I T	€ 4 0 t 4 5 o m - -

1 – Translation effects may impact Fresenius Kabi's margin as APP provides a significant earnings contribution from the US\$ area. This guidance is based on the US\$/€ exchange rate from the beginning of 2009.

Fresenius Group: Outlook 2009

1 - organic growth 6 to 8 % 2 - before special items due to Mandatory Exchangeable Bond and Contingent Value Right Accounting

Investment Highlights

Leading market positions

Diversified revenue base with four strong business segments

Global presence in growing, non-cyclical markets

Proven ability to integrate acquisitions

Clear track record of and commitment to de-leveraging

Strong financial performance and cash flow generation

Health Care Worldwide