Biotest AG — Investor Presentation 2012

Aug 13, 2012

Press and Analyst Conference call – H1 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 p , lans 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 Group. 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 H1 2012

• Biotest H1 2012 Group Sales up by 3.4% to € 220.2 m Increase largely attributable to an increase in volume and sales in international markets

• •H1 2012 EBIT increase by 14.5% to € 22.9 m
• •Start of BT-062 phase I/IIa combination study (study 983)
• • Confirmation of guidance : FY 2012 sales increase of 3-5% EBIT t l t l l (FY 2011 EBIT at last years level 2011: € 41 6 ) d it ff t 41.6 m), despite effects from Greece and the delay in Bivigam approval

Financials H1 2012

Biotest with a strong EBIT growth in H1 2012

Sales(€ million) EBIT(€ million)

* Continuing Operations

H1 2012: Sales and EBIT by Segments (in € m)

l S a e s	1 2 0 1 2 H	1 2 0 1 1 * H
T h e r a p y	1 6 7 5	1 6 3 9	2 2 %
P l & S i a s m a e r c e s v	4 4 7	4 3 1	1 0 0 %
O h S t t e r e g m e n s	5 3	5 9	% 1 0 2 -
G B i t t o e s r o u p	2 2 0 2	2 1 2 9	% 3 4

E B I T	H 1 2 0 1 2	H 1 2 0 1 1 *
T h e r a p y	1 4 4	1 0 6	% 3 5 8
& S P l i a s m a e r v c e s	8 5	9 0	% 5 6 -
O t h S t e r e g m e n s	0 0	0 4	1 0 0 0 % -
B i G t t o e s r o u p	2 2 9	2 0 0	1 4 % 5

*Continuing Operations

Increase in EBT – decrease in EAT in H1 2012

EBT and EAT (in € m)

• at -€ 5.2 m vs -€ 5.1 min H1 2011
• As of March 31, 2012 all Greek bonds had been sold with a loss of € 1.1 m
• Tax rate 44 1% in H1 2012 vs 44.1% vs. 26.8% in H1 2011 due to not capitalised losses in Greece and Brazil

Stable Balance Sheet Structure

Balance sheet of Biotest Group

(in € m)

• Capital expenditure in production facility in Dreieich
• • All Greek Zero Bonds have been ld ith l f€ 1.1m. Nominalvalue on Dec. 31 2011 had been € 4.5 m

• Equity ratio as of 30 Jun. 2012: 51.4%(Dec. 50.8%)

Cash Flow from Operating Activities January – June 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) 41.6

EBIT t l t l l (FY 2011 EBIT at last years level 2011: € 41 6 ) d it ff t f 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.

Current projects and new developments

Bivigam approval: FDA response

Clinical data on efficacy and safety

High quality of BivigamTM accepted

Thrombogenic activity: no risk

Several systems to detect thrombogenic Several activity (TGA tests) have been developed, but are not yet validated

Consequences of FDA response letter on Biotest business

• •Delay of Bivigam market entry by several months
• • High priority to accelerate TGA* test validation in close cooperation with FDA
• • Missing Bivigam sales and earnings will be compensated by other business
• •Confirmation of guidance 2012

*Thrombogenic activity

Development of Sales by Region

Additional international business in China

• •Registration of Albumin in China expected in H1 2013
• • Contractual negotiations with a new Chinese distributor expected to be distributor finalised in 2012
• • Biotest will double production capacit y fo rAlbumin until 2013
• • China has a huge market for Albumin with very high prices; prices in China are double as high as in Germany
• •Consumption of ~ 280 t Albumin in China p.a.

Clinical immunology development projects (I)

® 1 0 % I t t t n r a e c :	S f i l l d l d b l t t t t d p e c a y y e v e o p p e o r a m u a n r e a m e n a n
	f f i i b d d i i d t t t t o p a e n c a r e o a n o e c e n c s n r o m e u y y y
	Q Q A l i G d f 4 2 0 1 2 E U 1 2 0 1 3 t p p r o a n e r m a n e p e c e o r v y x ;

• Cytotect ® 70 : Infection prophylaxis of the fetus in the case of cytomegalovirus infection of the mother during pregnancy ~12.500 pregnant women screened
• Civacir™ : Prophylaxis of re-infection following hepatitis Cinduced liver transplantation; clinical material has been prod d uce i Q2 2012 i B R t t d i iti ti in in Boca aton; s tudy initi ation planned for Q1 2013

Clinical immunology development projects (II)

T l i b r e g a m a z u :	M l l i b d f h f h i d t t t t t t o n o c o n a a n o o r e r e a m e n o r e m a o y u
( B T 0 6 1 ) -	h i i d i i t t a r r s a n p s o r a s s
	A h I I b i l i i ( S d N 9 9 ). t t 7 p a s e r a s o n g o n g o u y
	A A h h k k i i i i h h d d i i d d h h b b t t t t p a r m a c o n e c -p a r m a c o n a m c s a s e e n y u y
	d ( S d N 9 8 ). A h I I b d i h t t t 5 t t s a r e o n e p a s e s u y w u y w
	3 0 i i l b i d ( N 9 8 6 ). 5 t t t a p p r o p a e n s s c r r e n e n g p r e p a r e o x u y

Haematology development project

BT-062: Antibody drug conjugate for the treatment of multiple myeloma; Combination trial in US has started, first patient treated (study 983)

Biotest Analyst Conference August 13, 2012 16

Intensive care medicine development projects

I M C t t g o n c e n r a e :	I M i h d i l b l i f h f t t t t g -e n r c e m m u n o g o u n o r e r e a m e n o
	i i d i t s e e r e c o m m n a c q r e p n e m o n a v u y u u
	f f P h I I i i t i l i l d d a s e o n g o n g n e r m a n a s s p a n n e o r e n o ; y
	2 0 1 2

F i b i r n o g e n :	f f D l d i t l d i d i b i e v e o p e o r c o n g e n a a n a c q u r e r n o g e n d f i i i e c e n c e s
	P h I / I I l i i l i l i i l f i b i t t a s e c n c a r a n c o n g e n a r n o g e n
	f d i i d t d i i t i t i i e c e n c a p p r o e s n a o n o n g o n g y v ; u y

Outlook Biotest Group

• •Core business expected to remain stable with respect to prices and volume
• • International business to be further extended incl. new countries such as such China
• •Projects successfully on track
• • Bivigam approval expected with several months delay but negative effects can be compensated by other business of the Group

Guidance confirmation for 2012

Contact and Financial Calendar 2012

I R l i B i A G t t t t n e s o r e a o n s o e s v :		C F i i l l d 2 0 1 2 n a n c a a e n a r
D D M i k r r. o n a H d f I e a o n v	B k i t t t u e r e R l i t t e s o r e a o n s	N 1 3 2 0 1 2 o v , ,	Q 3 R t 2 0 1 2 / e p p o r A l f t n a y s c o n e r e n c e
P h + o n e : F + a x : E M i l i a : n -	4 4 9 9 ( 0 ) 6 1 0 3 8 0 1 4 4 4 4 0 0 6 6 - - 4 9 ( 0 ) 6 1 0 3 8 0 1 3 4 7 - - l i @ b i d t t t t. v e s o r_ r e a o n s o e s e	M 2 2 0 1 3 5 a r ,	A l R 2 0 1 2 / t n n u a e p o r A l t l l n a s c a y