Company Presentation May 2012 May,

Disclaimer

• This document contains forward forward-looking statements on overall economic looking 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 the forward-looking statements and assumes no obligation to looking do so.
• All figures reported relate to the Continuing Operations of the Biotest Group. After the disposal of the transfusion and transplantation diagnostic activities to Bio Bio-Rad Laboratories Inc., and the disposal of the Microbiological Monitoring to Merck KGaA the remaining 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 2012

• Biotest Q1 2012 Group Sales up by 1.1%; Increase largely attributable to an upfront payment by Abbott on a pro rata basis to the Biotherapeutics segment
• Q1 2012 EBIT increased by 14.3% despite difficult plasma protein market environment and unabsorbed costs in Boca Raton
•BivigamTM: Approval expected in mid 2012
• New Strategic orientation of Biotest : the products are used in the treatment areas of
¾Haematology,
¾Clinical immunology and
¾Intensive care medicine.

Biotest Group

• Headquarter in Dreieich/Germany (Frankfurt area)
•Subsidiaries in 11 countries worldwide
• E l (FTE)* 1 670** Employees (FTE)*: 1,670** Thereof 45% located outside Germany
• Founded in 1946, , IPO in 1987, SDAX in 2007 (preference shares)
• Biotest shares:
•6,595,242 ordinary shares
•5,133,333 preference shares

*: as of March, 2012 **: Continuing Operations Headquarter, Dreieich

Biotest Group overview

European production and distribution sites

Additional sites:

•USA: Florida ( )
•Brasil: Sao Paulo
•Russia: Moscow
• Distribution also via 69 distributors in 68 countries

Sales by region (Q1 2012):

Shareholder structure

B i A G t t o e s
O 6 6 d i h i r n a r y s a r e s : m o i h i i h t t t w v o n g r g s	P f h 5 1 i r e e r e n c e s a r e s m o : t i i h t b t h i h d i i d d n o v o n g r g s, u g e r v e n
O G E G b H : 0 0 3 % L 5 m K S K B i b h : 2 4 % e r a c ~	F F l 1 0 0 % t r e e o a :
% F F l t 2 6 r e e o a : ~

56.4% of total capital, and 100% of voting rights 43.6% of total capital, 0% of voting rights

* as of May 2012

Biotest: History and milestones achived

1 9 4 6 B i t t : o e s S I i t t t e r u m n s u G b b H H m	1 9 6 1 N : e w d i t p r o u c o n f i l i t t a c y a	1 9 8 7 I P O :	2 0 0 7 : C l i i l t t i f n c a e s n g o - l l t i b d i m o n o c o n a a n o e s
1 9 4 8 : T S t- e s e r u m A A i- i D D t t n n	D i i h r e e c 1 9 6 8 F i t : r s b i d i s s a r u y G t i d o s e e r m a n u y ( ) I t l a y 1 9 1 M k 7 t : a r e l l h h f f a u n c o ® I l b i t n r a g o n	1 9 9 1 S f t t : a r o M i b i l i l c r o o o g c a M i t i o n o r n g S f 2 0 0 4 t t a r o : d i d m o e r n z e P l P i t a s m a r o e n s d i t p r o u c o n	f A i i t i N b i c q u s o n o a - P f h i r e e r e n c e s a r e n - S D A X 2 0 1 0 D i f t t : v e s m e n o M d i l D i i t e c a a g n o s c s f 2 0 1 1 D i t t e s m e n o : v M i b i l i l c r o o o g c a M i i t o n o r n g 2 0 1 1 B i A b b t t- t t : o e s o D l f B T 0 6 1 e a o r
1 9 6 4			2 0 1 1

Plasma Proteins – Efficient production network

Acquisition of Nabi Biologics in 2007 (USD 185 million)
22 plasma collection centres
Exchange of intermediate products from US to Europe planned for 2012
Network increases EBIT margin
Capex f i t ti for investments in production in Dreieich and Boca Raton 2008-2010: ~ USD 110 m

** Production in Dreieich and capacities at partners

* Approval will probably be granted Mid of ²⁰¹²

Plasma Proteins business at a glance

Biotest Plasma Protein products

Global market share IVIG: ~ 3%
Intratect ® market share in GER, AUT: > 17%, in UK, CH, I: > 10%
W ld k t l d ith C t t t®World maret leader withytotectand Varitect®
Leading position with Hepatect ® in E d N bi HBTM i USAEurope an abiin
Biotest covers full value creation chain: plasma sourcing, production, distribution

vertical integration leads to rationalisation and higher productivity

Financials Q1 2012

Biotest has grown year by year

R i evenues in €mio

Company Presentation Biotest AG 10

Earnings increase from realised capital gains

Earnings after tax (€ million)

Company Presentation

Immunoglobulins: Price gap between U.S. and Europe

Source: Biotest AG, UBS Investment Research T d b d i bt i d (A UK CH D i f Bi t t d t USA i ) Trend curves based on prices obt aine (A, UK, CH, D: prices for otest pro ducts, USA: average prices)US prices converted to euros at constant exchange rates

BPC Earnings reduced by one time expenses

Delays and additional costs for the expansion of production at Biotest Pharmaceuticals Corp. ( ) BPC in Boca Raton in 2011

• Problems with automation and control technology required rework in the first half of 2011, leading to first of a longer idle period than planned
• Problems fixed plant has been operating under fixed, been stable conditions since August 2011
• Full capacity (1.5 tonnes of immunoglobulins per capacity tonnes year) will be reached gradually
• Negp g ative im pact on earnin gs in 2011: approximately €10 million

Greek bonds lose considerable value

Statement of financial position: net debt reduced by 60%

Financial position of the Biotest Group (€ million)

Biotest with a solid start in Q1 2012

Sales*(€ million) EBIT*(€ million)

Important strategic milestones

Agreement with Abbott regarding BT-061

• Contract with Abbott on the further develop g ment and marketin g of the monoclonal antibody
• Abbott is one of the world world s' market leaders in biotechnological products for the treatment of immunological diseases
• Lead indications: rheumatoid arthritis and psoriasis
• Since 2011, tregalizumab is the official International Nonproprietary Name (INN) for BT-061

Agreement is a milestone for Biotest

• Joint development of Tregalizumab from clinical phase III
• Upon marketing authorisation:
¾ Joint marketing in Germany and four other European markets
¾Exclusive marketing by Abbott in other markets
•USD 85 million advance payment to Biotest
• Additional milestone payments of up to USD 400 million
• Royalties after marketing authorisation in Abbott´s excluseve territories

US authorisation of BivigamTM expected soon

• FDA authorisation for polyspecific immunog p lobulin ex pected in summer 2012
• BivigamTM is similar to Intratect ® product authorisedin other markets
• Authorisation will broaden the basis for US acti iti ves
• Around USD 100 million in annual sales expected in the medium term

Biotest AG

New strategic orientation

Company focus

Biotest is a pharmaceutical company that concentrates on the development, production and marketing of biological medicinal products.

Biotest's medicinal products are obtained either from human blood plasma or are manufactured using bi t h l i l th dbiotechnological methods.

They are used in the treatment areas of areas haematology haematology,

clinical immunology and intensive care medicine.

Treatment areas: products

Treatment areas: development projects

Haemathology development projects BT-062 – specific mechanism of action

Active substance / mechanism:

• Immunoconjugate consisting of antibody and highly active cytotoxic agent
•Antibody binds specifically to cancer cells
•Only then is the cytotoxic agent released

Advantages:

•Targeted attack on malignant cells
•Healthy tissue is largely spared
• Precise tar gg g etin g enables the use of hi gh doses of cytotoxic agent

Effective attack on tumour cells

Haematology development projects: BT-062 Clinical studies in the lead indication of multiple myeloma

S t d 9 6 9 u y	S d 9 t 7 5 u y	S d 9 8 3 t u y
F F o c u s : f T l b i l i t t o e r a s a e y, y • A i- i i t t t t n u m o u r a c v y •	F o c u s : I i f f i d n c r e a s e n e c a c y a n • t l b i l i t t h h o e r a r o g y u d i i t t i f t h d a m n s r a o n o e o s e l l d d o v e r s e v e r a a y s A t i- t t i i t n m o r a c u u v y •	F F o c u s : T l b i l i d f i t t o e r a y a n s a e y n • b i t i i t h c o m n a o n w d t d d a p p r o e s a n a r v t h e r a p y A i- i i t t t t n u m o u r a c v y •
/ R l t t t e s u s s a u s : G d t l b i l i t t o o o e r a p o a y u • 2 d f 1 6 0 / o s e o m g m C f l i i l b i t i n c a e n e n m o r e • t h 5 0 % f t i t a n o p a e n s	/ R l t t t e s s s a s u u : G d l b i l i t t o o o e r a y • f f f E i d i e n c e o e c a c v y • f f i i d c o n r m e	S t t a s u : F i i d i t t t t r s p a e n e x p e c e n • i d- 2 0 1 2 m

BT-062 with potential in other types of cancer

• BT-062's binding y site also extensivel y present in malignant cells of other types of cancer
A li f t ll d t t• Applies for tumour cells and metastases, even in advanced disease

T f p e o c a n c e r y	P t t i l t t o e n a a r g e i * t t p a e n s
B t r e a s	% 4 5
P a n c r e a s	5 0 %
P t t r o s a e	0 % 5
B l d d d d a e r	6 3 %

Possible starting points for BT-062, hich are no being ^e amined which now xamined

Focus on four indications

* Percentage of patients with tumours that overexpress CD138

BT-062: impressive activity against tumours

• Treatment of ^a tumour that was resistant to established therapies
•Complete tumour regression even below the maximum tolerated dose

Clinical immunology development projects BT-061: Potential Indications Rheumatoid Arthritis/ Psoriasis

S t d 9 7 9 u y	S d 9 8 5 t u y	S d 9 8 6 t u y
S c o p e : • P h l l b R A ( B T- 0 6 1 a s e - *) M T X + M l i d b t t u o s e, s u c u a n e o u s - 7 5 1 2 k t u p o m g w e e s , t t t r e a m e n	S c o p e : • P h I a s e − ( P h d i a r m a c o y n a m c s, ) P h k i t i a r m a c o n e c s S S i i l l d d n g e o s e − , b t t s u c u a n e o u s u p o 2 0 0 m g	S c o p e : • P h I I b R A ( B T- 0 6 1 + a s e − M T X *) M l i d t u o s e, , b t i s c a n e o s s u u u x t h t t t m o n s r e a m e n
P t i t 1 7 6 a e n s : •	P i 3 6 t t a e n s : •	P i 3 0 t t 5 a e n s : •
P i i i t t t t a e n r e c r u m e n n • p p r o g g r e s s	C l i i l t i l t l n c a r a p r o o c o • b i d f f l t t s u m e o o r r a p p r o v a	F i i d i t t t t r s p a e n e x p e c e n • H 1 2 0 1 3

Clinical immunology development projects

® I 1 0 % t t t n r a e c :	O i f i b d d f i i d t t t t u p a e n c a r e o a n o y e c e n c y s y n r o m e
® : C 0 t t t 7 y o e c	I f i h l i i h f l i t t t n e c o n p r o p y a x s n e c a s e o c y o m e g a o v r u s i f i d i t n e c o n r n g p r e g g n a n c u y
™ : C i i a c r v	R i f i h l i f l l i h i i C t t t e n e c o n p r o p y a x s o o w n g e p a s i d d l i l t t n c e e r r a n s p a n u v
T l i b r e g a m a z u :	M l l i b d t o n o c o n a a n o y , h i d h i i d i i t t t r e m a o a r r s a n p s o r a s s u
B T 0 6 3 : -	M l l i b d t o n o c o n a a n o y , t i l t h t s y s e m c u p u s e r y e m a o s u s

Civacir: project with signficant potential

• Hepatitis C immunoglobulin for reinfection prophylaxis following hepatitis C-induced liver transplant
• High medical need:
¾ Number of hepatitis C-induced liver transplants is high, and increasing
¾High reinfection risk in the transplanted liver
¾No viable alternatives
•Start of clinical development by BPC towards the end of 2012
• Orphan dru g g desi gnation in Europe and the USA means exclusive marketing rights for seven or ten years if granted marketing authorisation

Intensive care medicine development projects

IgM concentrate:	IgM-enriched immunoglobulin for the treatment of severe bacterial infections
Fibrinogen:	Used in acute clotting disorders due to fibrinogen deficiency, infusion solution prepared much more rapidly than reference product

Internationalisation - new market entries

Investments in further growth

New bottling and packaging facility in Dreieich:

•Building extensions, process optimisation
• Newfilling line
•Increase in packaging units per year from 3 to 6 million
•Technical completion by 2013

Total investment: €30 million

New structure for increased effectiveness

Guidance 2012

Sales:Sales growth of 3-5 percent compared to 2011
EBIT: Slight increase vs EBIT of 2011 (€ 41.6 m) Still high ramp up costs in US

The 2012 guidance assumes that the market environment for our business in countries like Greece, Russia and several countries in the Middle East does not deteriorate due to financial or political reasons. Another precondition is the launch of BivigamTM in the US in mid of 2012.

Continuing strong growth

Growth driven by:

•Futher strengthen R&D activities
•In-licensing of close to or marketed products
•Mergers & Acquisitions

Contact and Financial Calendar 2012

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