Fresenius SE & Co. KGaA

Investor Presentation • Jul 17, 2009

Barclays Capital – European Franchise Conference

June 18, 2009

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 Group: Financial Results

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

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

Fresenius Group: Significant Growth in All Business Segments

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

Fresenius Medical Care: Update Q1/09

• Organic sales growth of 8 % at high end of target
• North America: the dialysis specific healthcare reform has been passed in July 2008; +4 % year-over-year growth in revenue per treatment
• International: continued strong growth in dialysis services – +18 % in constant currency

Fresenius Kabi: Update Q1/09

• Strong organic sales growth of 7 % (excluding APP und Dabur Pharma)
• APP Pharmaceuticals with 30 % sales growth in local currency
• Continued double-digit organic sales growth in emerging markets
• Roll-out of Dabur's oncology portfolio
• →USA: Irinotecan, Paclitaxel, Epirubicin
• → Europe: Irinotecan, Paclitaxel, Epirubicin, Gemcitabine

Fresenius Helios: Update Q1/09

• Strong organic like-for-like sales growth of 5 %
• Krefeld/Huels hospital expected to achieve positive EBIT in 2009
• Integration of newly acquired hospitals in Northeim and Mansfeld on track
• Election year 2009: favorable reimbursement legislation but slow privatization activity HELIOS hospital Hettstedt (Mansfeld)

Fresenius Vamed: Update Q1/09

Significant sales growth driven by strong project business

EBIT within target expectations

Favorable order intake expected to continue

Q	Q	Q	Q
/	/	/	/
0	0	0	0
6	1	8	9
1	7	1	1
9 4	6 6	2 1 5	8 8	€ m

Fresenius Biotech: Removab – First Approved Trifunctional Antibody Worldwide

• European Commission approved Removab for the treatment of malignant ascites
• Market launch in Germany within a few weeks; further European countries to follow
• List price Germany: € 11,500 per treatment (four doses of 10, 20, 50 and 150 µg)

Fresenius Group: 2009 Financial Outlook Confirmed

		2 0 0 9 O l k t u o o
i F e s e n s r u d i l C M e c a a r e	l S a e s N t I e n c o m e	\$ U S 1 1, 1 0 0 > m \$ U S 8 5 0 8 9 0 m –
i F r e s e n u s K b i a	l h S t a e s g r o w i * E B I T m a r g n	2 5 3 0 % t t t a c o n s a n c u r r e n c y – 1 9 2 0 % 5 5 –
i F r e s e n u s l i H e o s	l S a e s E B I T	b € 2 3 > n € 8 0 2 0 0 1 m –
i F e s e n s r u d V a m e	S l h t e g o a s r w h E B I T t g o r w	1 0 % 5 – 5 1 0 % –
i F r e s e n u s i h B t o e c	E B I T	0 0 € 4 5 m - – -

* 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: Positive Outlook 2009 Confirmed

h R 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 i o g a n c r	1 0 % > 6 8 % –
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 e n c u r r y	0 % 1 ~
C p e a x	€ 7 0 0 7 5 0 m ~ –

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

Barclays Capital – European Franchise Conference – Napa Valley, Fresenius SE, Investor Relations © Copyright, June 18, 2009 Page 12

Guidance 2009

Attachments

Fresenius Group: Profit and Loss Statement, Adjusted for Special Items

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

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

Fresenius Group: Cash Flow

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

Fresenius Group: Debt Maturity Profile 1March 31, 2009

1Based on utilization of major financing instruments; excl. Fresenius Medical Care's Accounts Receivable Facility 2

Major part already refinanced (maturity 2012/2014)

Fresenius Group: Debt and Interest Ratios

Debt excludes Mandatory Exchangeable Bonds

* Pro forma APP acquisition and before special items

Fresenius Kabi: Organic Sales Growth Fully in Line with Expectations

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

Fresenius Kabi: Organic Sales Growth Fully in Line with Expectations

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

* excluding APP Pharmaceuticals and Dabur Pharma

Fresenius Kabi: Strong EBIT Growth

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

Fresenius Helios: Excellent Sales and Earnings Development

€ m	/ Q 1 0 9	/ 8 Q 1 0	h G t r o w
l l T t o a s a e s	5 7 7	5 0 9	3 % 1
E B I T
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 M i a g n r	4 4 8. 2 %	8 3 % 7. 5	1 6 %
N i i i t t e a c q s o n s u ( l d / d l d ) i i i i 1 t t < c o n s o a o n e c o n s o a o n y r	0	0
l T E B I T t o a	4 4	3 8	1 6 %
i M a g n r	7 6 %	7 5 %

Fresenius Helios: Strong Sales Growth

€ m	Q / 0 9 1	Q / 0 8 1	h G t r o w
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	3 6 5	0 5 4	% * 5
i i i A t c q s o n s ( l d ) u i t i 1 < c o n s o a o n y r	4 1
D i i t t v e s u r e s ( d l i d i 1 ) t < e c o n s o a o n y r		5
l l T t o a s a e s	5 7 7	0 9 5	3 % 1

Fresenius Helios: 2008 Restructuring Plan – Newly Acquired Acute Hospitals

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

Fresenius Helios: Performance Indicators

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

1Dec 31, 2008 2 Clinics in Germany 3 2008 cumulated

Fresenius Vamed: Strong Sales Growth

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

1Project business only ² Dec 31, 2008

Financial Calendar

4 8 2 0 0 9	t h l f R 1 2 0 0 9 t s e p o r o n a
3 1 1 2 0 0 9	d t- R 1 3 2 0 0 9 t s t r e p o r o n q u a r e r s

Contact

Birgit Grund SVP Investor Relations Fresenius SE

Telephone: +49 6172 608-2485 e-mail: Birgit.Grund@fresenius.com

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