Press and Analyst Conference Q1– Q3 2012 Frankfurt am Main, November 13, 2012

Disclaimer

This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and asset situation of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and thus are subject to risks and elements of uncertainty that could result in deviation of actual developments from expected developments.
The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.
All figures reported relate to the Continuing Operations of the Biotest Group. After the sale of the Medical Diagnostic activities to Bio-Rad Laboratories Inc., and the sale of the segment Microbiological Monitoring to Merck KGaA, both activities are being reported as Discontinued Operation
All comparative figures relate to the corresponding last year s period, unless stated otherwise.

Biotest Group: Highlights Q1-Q3 2012

Biotest Q1-Q3 2012 EBT up by 26.2% to € 25.5 m
Q1-Q3 2012 EBIT increase by 9.0% to € 32.8 m
Marketing authorisation of Intratect 100g/l (10%) under European Decentralised Procedure
BivigamTM : Test validation completed. Corresponding data sent to FDA in a "Complete Response Letter"
Confirmation of guidance: FY 2012 sales increase of 3-5% Slight increase vs. EBIT last year (FY 2011: € 41.6 m), despite effects from Greece and the delay in Bivigam TM approval

Financials Q1-Q3 2012

Biotest with a solid sales growth

Development of sales by region

Biotest with a strong EBIT growth

Q1-Q3 2012: Sales and EBIT by segments (in € m)

Sales	Q1-Q3 2012	Q1-Q3 2011*
Therapy	245.6	241.1	1.9 %
Plasma & Services	71.0	62.9	12.9 %
Other Segments	8.3	7.9	5.1 %
Biotest Group	324.9	311.9	4.2 %

EBIT	Q1-Q3 2012	Q1-Q3 2011*
Therapy	20.4	16.9	20.7 %
Plasma & Services	12.3	13.1	-6.1 %
Other Segments	0.1	0.1	0.0 %
Biotest Group	32.8	30.1	9.0 %

Increase in EBT and in EAT in Q1-Q3 2012

Financial result Q1-Q3 2012 at -€ 7.3 m vs. -€ 9.9 m in Q1-Q3 2011, due to high devaluation of Greek bonds in Q3 2011
As of March 31, 2012 all Greek bonds had been sold with a loss of € 1.1 m
Tax rate 38.8% in Q1-Q3 2012 vs. 27.7% in Q1-Q3 2011 due to not capitalized losses in Greece and Brazil

Stable balance sheet structure

Balance sheet of Biotest Group (in € m)

Assets

Capital expenditure in production facility in Dreieich
All Greek Zero Bonds have been sold with a loss of € 1.1m Nominal value on Dec. 31 2011 had been € 4.5 m

Equity and Liabilities

• Equity ratio as of 30 Sep. 2012: 53.1% (Dec. 31 2011: 50.8%)

Cash flow from operating activities January – September 2012 (in € m)

Guidance 2012

Sales: Sales growth of 3-5 percent compared to 2011
EBIT: Slight increase vs. EBIT of 2011 (€ 41.6 m)

Slight EBIT increase vs. last year (FY 2011: € 41.6 m), despite effects from Greece and the delay in BivigamTM approval. The 2012 guidance assumes that the market environment for our core market is stable

Market environment for immunoglobulins / Current projects and new developments

Biotest Analyst Conference November 13, 2012 12

Immunoglobulin market development

In 2011 the global immunoglobulin market amounted to 107 t
Global market growth: +8% CAGR (2005 2011)

Source: MRB (2012)

Future immunoglobulin market trends

Global growth* trend will continue
Global market size 2015: 141 t (SC/IVIG)

*Growth rates: Expected CAGRs, excluding the Alzheimer upside potential. Sources: MRB (2012)

Global IVIG supply and demand forecast

Cyclical ups and downs up to 2011, where supply and demand reached equilibrium
Future: Better control of source plasma through fractionators will help to better balance demand and supply

Notes: Chart does not include SCIG market; Assumes 6% demand growth and 7% supply growth

IVIG price trends (Jan. 2008 – September 2012)

Source: Biotest AG, etc.

The chart above shows the linear trend curves of the reported per gram prices. The US trend was extrapolated to cover the period between March and September 2012. A constant exchange rate (October 23, 2012) was applied to US prices.

IVIG market in Europe 2011

Market shares are based on kg IVIG sold.

Source: "The Worldwide Plasma Proteins Market 2011", The Marketing Research Bureau; Biotest AG.

IVIG market in North America 2011

Source: "The Worldwide Plasma Proteins Market 2011", The Marketing Research Bureau; Market shares are based on kg IVIG sold.

Bivigam approval status

Clinical data on efficacy and safety

High quality of BivigamTM accepted

Thrombogenic activity: no risk

However the FDA requested on August 7th a validated system to detect thrombogenic activity (TGA test)

Biotest is the first company which has been requested to validate such an assay for batch release of IgG products

- Validation of TGA test completed end of October

- Complete response letter has been submitted to FDA end of October

International business – Biotest Hellas

New business alignment due to difficult environment

August/September 2012

Distribution agreement with a new Greek distributor signed
Deliveries only against first class bank guarantee or payments in advance
Closing of all operating activities of Biotest Hellas as of September 30, 2012
All costs related to closing of the company are booked in Q3 2012

October 2012

• Distributor took over 6 Biotest Hellas employees

November 2012

• Transfer of marketing authorisation of the products to distributor

January 2013

• Re-start of business by new distributor