Fresenius Medical Care AG & Co. KGaA

Investor Presentation • Nov 6, 2019

ROADSHOW BOSTON Q3 2019

NOVEMBER 06, 2019

RICE POWELL – CEO

© Copyright

Safe harbor statement: This presentation includes certain forward -looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Act of 1934, as amended. Forward -looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy or might not even be anticipated. The Company has based these forward -looking statements on current estimates and assumptions which we believe are reasonable and which are made to the best of our knowledge. Actual results could differ materially from those included in the forward -looking statements due to various risk factors and uncertainties, including changes in business, economic or competitive conditions, changes in reimbursement, regulatory compliance issues, regulatory reforms, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, cyber security issues and the availability of financing. Given these uncertainties, readers should not put undue reliance on any forward -looking statements. These and other risks and uncertainties are discussed in detail in Fresenius Medical Care AG & Co. KGaA's (FMC AG & Co. KGaA) Annual Report on Form 20 -F under the heading "Forward -Looking Statements" and under the headings in that report referred to therein, and in FMC AG & Co. KGaA's other reports filed with the Securities and Exchange Commission (SEC) and the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse).

Forward -looking statements represent estimates and assumptions only as of the date that they were made. The information contained in this presentation is subject to change without notice and the company does not undertake any duty to update the forward -looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable law and regulations.

If not mentioned differently the term net income after minorities refers to the net income attributable to the shareholders of Fresenius Medical Care AG Co. KGaA. The term EMEA refers to the region Europe, Middle East and Africa. Amounts are in Euro if not mentioned otherwise.

2018: GROWTH CONTINUED

2018: €16.5BN REVENUE

Segment revenue FY 2018, number of patients and clinics as of YE 2018, yoy change │ 1 Including gain from divestiture of Care Coordination activities

Product revenue Service revenue

ORGANIC GROWTH DRIVERS

¹ Internal estimates as of Dec. 31, 2017

STRATEGY – CORE COMPETENCIES

GLOBAL MARKET LEADER IN DIALYSIS

• Innovate for enhancing patient care
• Market leading high quality products

• Solution selling

• Standardized medical procedures

• Enable best treatment outcomes

• Capture growth in developing markets

• Coordinating patients efficiently

• Data analytics & predictive modelling
• Develop & enhance value based care

DELIVERING ON OUR HOME STRATEGY

CAPTURE GROWTH IN DEVELOPING ECONOMIES

DEVELOPING ECONOMIES – EXAMPLE CHINA

Source: WORLD BANK

• Early mover in developing economies with products first
• Leverage experience from the products business into the service business – e.g. advancing in the Chinese market with own dialysis clinics and renal hospitals
• Investing in manufacturing capacities in the growing and upcoming markets
• Expand Care Coordination outside North America
• Transfer know-how into new markets

GLOBAL EFFICIENCY PROGRAM II

SUSTAINED SAVINGS 2018 - 2020

2018 AHEAD OF SCHEDULE

• Projects already positively contributed in the first year of the program
• 15% sustained savings generated in 2018 instead of originally targeted 10%

DIVIDEND INCREASE AND SHARE BUYBACK

DIVIDEND PER SHARE IN EURO

DIVIDEND 2018

• 22nd consecutive dividend increase
• Dividend reflects investments in future growth
• We remain committed to our ambitious goal for the dividend development to be closely aligned with our growth in earnings per share, while maintaining dividend continuity.

SHARE BUYBACK

• Volume: up to EUR 1bn
• Time horizon: 2019-2020

2019 WILL BE AN INVESTMENT YEAR

FOCUS ON

• Resolving identified operational issues
• Invest around €100 million in 2019 cost optimization program
  • Further steps to improve cost base
  • Accretive to net income already in 2020
  • Additional efforts to GEP II
• GEP II with increasing contribution
• Share buyback: create additional shareholder return
• Capturing growth in developing economies
• Investing in growth of U.S. home treatments
• Integration of NxStage and realizing synergies

OPPORTUNITIES

• Higher contributions from GEP II
• Faster recovery of commercial volumes
• Higher contribution from expansion in developing economies

RISKS

• Lower than expected contribution from de novo clinics and acquisitions
• Legislative activities
• Unforeseen regulatory changes

Q3 2019: FORWARD MOMENTUM

• Continued strong organic growth across all regions
• North America:
  • Robust growth of dialysis business with record growth in home
  • Strong product growth supported by NxStage
  • Care Coordination with negative effect from ESCOs
• Asia-Pacific: 4008A launched in China in September
• Cost Optimization initiatives on track

Q3 2019: GROWTH CONTINUED¹

	Q3 2019 € million	Q3 2018 € million	Growth in %	Growth in %cc
Revenue	4,419	4,058	9	6
Revenue adjusted	4,375	4,051	8	5
Operating income (EBIT)	595	527	13	9
EBIT adjusted	599	592	1	-3
Net income²	333	285	17	12
Net income² adjusted	363	343	6	2

cc = at constant currency

1 For a detailed reconciliation for revenue and net income please refer to chart 27 │2 Attributable to shareholders of Fresenius Medical Care AG & Co KGaA

guidance

▪ 5.2% organic

revenue growth

from FX effects

▪ Adjusted revenue and net income

growth in line with

▪ Continued tailwind

Q3 2019: ROBUST GROWTH ACROSS ALL REGIONS

NORTH AMERICA	€ million
Revenue	3,073	3%cc
Organic growth		3%
EMEA	€ million
Revenue	683	9%cc
Organic growth		9%

ASIA-PACIFIC	€ million
Revenue	475	9%cc
Organic growth		8%

LATIN AMERICA	€ million
Revenue	182	20%cc
Organic growth		15%

1 Organic growth | 2 "ESCO effect" cc = at constant currency

• Organic business growth across all regions
• North America negatively affected by the reduction in patient attribution and a decreasing savings rate for ESCOs based on recent reports under discussion for current and prior plan years²
• High growth in EMEA and Asia-Pacific

Q3 2019 SERVICES: CONTINUED SOLID GROWTH

Revenue	Q3 2019 € million	Q3 2018 € million	Growth in %	Growth in %cc	Organic growth in %	Same market treatment growth in %
Health Care Services	3,492	3,258	7	4	4	4
North America	2,795	2,628	6	2	3	4²
of which Care Coordination	273	300	-9	-13	-12
EMEA	343	314	9	8	7	4
Asia-Pacific	223	194	15	9	8	7
of which Care Coordination	64	54	20	16	9
Latin America	131	122	8	26	20	3

1 Organic growth │ 2 U.S. (excl. Mexico) cc = at constant currency

▪ North America Growth driven by same market treatment growth but negatively affected by adjustments for accounts receivable in legal dispute

▪ EMEA

Positive development due to same market treatment growth and organic revenue per treatment growth

▪ Asia-Pacific

Growth driven by same market treatment growth and contributions from acquisitions

Q3 2019 PRODUCTS: STRONG CONTRIBUTIONS FROM ALL SEGMENTS

Revenue	Q3 2019 € million	Q3 2018 € million	Growth in %	Growth in %cc	Organic growth in %
Health Care Products	927	800	16	13	10
Dialysis Products	907	782	16	13	9
North America	278	215	30	24	10
EMEA	320	288	11	10	11
Asia-Pacific	252	227	11	9	9
Latin America	51	49	3	5	4
Non-Dialysis Products	20	18	14	14	14

▪ North America NxStage acquisition drives dialysis product revenues

• EMEA Higher sales of dialyzers and bloodlines
• Asia-Pacific Growth triggered by increased sales of dialyzers and bloodlines

Q3 2019: CASH FLOW, NET LEVERAGE RATIO & CURRENT RATINGS

	Q3 2019 € million	Q3 2018 € million
Operating cash flow	868	753
in % of revenue	19.7	18.6
Capital expenditures, net	-284	-257
Free cash flow	584	496
Free cash flow, after net acquisitions and investments, incl. net investments in securities	516	39

NET LEVERAGE RATIO (NET DEBT/EBITDA)¹

Current ratings4	S&P	Moody's	Fitch
Rating	BBB	Baa3	BBB
Outlook	stable	stable	stable

1 EBITDA: including acquisitions & divestitures with a purchase price above €50m and excluding (gain) loss related to divestitures of Care Coordination activities with a sales price above €50m and excluding NxStage related transaction costs │ 2 Incl. IFRS 16 │ 3 Excl. IFRS 16 │ 4 Latest update: S&P: May 23, 2019; Moody's: October 7, 2019; Fitch: March 8, 2018

OUTLOOK¹

(cc)	TARGETS 2019	2018 BASE (in € million)
Revenue growth adjusted	3 to 7%	16,026
Net income growth adjusted	-2 to 2%	1,341

(cc)	TARGETS 2020
Revenue growth adjusted	Mid to high single digit growth rate
Net income growth adjusted	Mid to high single digit growth rate

1 Targets for 2019 and 2020 are in constant currency. These targets as well as the 2018 base are and will be adjusted in order to make the business performance in the respective periods comparable for items such as: FCPA related charges, the IFRS 16 implementation, the contributions from Sound in H1 2018, the gain (loss) related to divestitures of Care Coordination activities and expenses for the cost optimization program. All effects from the NxStage acquisition are excluded from the targets for 2019 and 2020.

Q3 2019: PROFIT AND LOSS¹

	Q3 2019 € million	Q3 2018 € million	Growth in %	Growth in %cc
Revenue	4,419	4,058	9	6
Revenue adjusted	4,375	4,051	8	5
EBIT	595	527	13	9
EBIT margin in %	13.5	13.0	0.5pp	0.4pp
EBIT adjusted	599	592	1	-3
EBIT adjusted margin in %	13.7	14.6	-0.9pp	-1.0pp
Net interest expense	105	76	38	33
Income before taxes	490	451	9	5
Income tax expense	98	102	-3	-7
Tax rate in %	20.2	22.7	-2.5pp	-2.4pp
Non-controlling interest	59	64	-8	-12
Net income2	333	285	17	12
Net income adjusted	363	343	6	2

1 For a detailed reconciliation for revenue and net income please refer to chart 27 │2 Attributable to shareholders of Fresenius Medical Care AG & Co KGaA

Q3 2019: REVENUE AND NET INCOME GROWTH

REVENUE ADJUSTED, € MILLION – TARGET: 3 TO 7%CC GROWTH

NET INCOME ADJUSTED, € MILLION – TARGET: -2 TO 2%CC GROWTH

Q3 2019: RECONCILIATION ADJUSTMENTS

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE IFRS FINANCIAL MEASURES

	Q3 2019 € million	Q3 2018 € million
Revenue	4,419	4,058
IFRS 16 implementation	35
NxStage operations	-79
H1 Sound1		-7
Revenue adjusted	4,375	4,051
Net income2	333	285
IFRS 16 implementation	16
NxStage operations	15
NxStage costs	1
Cost Optimization costs	18
H1 Sound1		0
(Gain) loss related to divestitures of Care Coordination activities	-20	-17
FCPA		75
Net income2 adjusted	363	343

1 Contribution of Sound Physicians │ 2 Attributable to shareholders of FMC AG & Co. KGaA

Q3 2019: REGIONAL MARGIN PROFILE

NORTH AMERICA (70% OF EBIT¹)

EBIT in € million; % EBIT-margin

1 Excl. Corporate │ 2 Excl. the effects from IFRS 16 implementation

DIALYSIS BUSINESS MARGIN OF 17.9%

• Positive: Remeasurement effect on the fair value of Humacyte, Inc., higher utilization of oral based ancillaries with favorable margins
• Negative: Higher personnel expense, revenue recognition adjustment for accounts receivable in legal dispute, impact from income attributable to a consent agreement on certain pharmaceuticals in 2018, Cost optimization costs, NxStage integration and operational costs
• U.S. revenue per treatment \$347 (Q3 2018: \$356) U.S. cost per treatment \$292² (Q3 2018: \$290)

CARE COORDINATION MARGIN OF -8.3%

• Positive: Higher volumes for vascular services
• Negative: ESCO effect, lower gains from the divestiture of Care Coordination activities and unfavorable margin effect for oral based ancillaries

Q3 2019: REGIONAL MARGIN PROFILE

EMEA (15% of EBIT1)	Operating income margin development reflects Positive: Higher product sales, favorable foreign ▪ currency transaction effects ▪ Negative: Higher bad debt expense, higher personnel expense in certain countries	88 14.1% 14.1% Q3 2018	100 14.6% Q3 2019
ASIA-PACIFIC (13% of EBIT1)	Operating income margin development reflects ▪ Positive: Business growth, favorable foreign currency transaction effects ▪ Negative: Unfavorable mix effect from acquisitions with lower margins, higher start-up and operating costs in Care Coordination	66 15.7% Q3 2018	90 19.0% Q3 2019
LATIN AMERICA (2% of EBIT1)	Operating income margin development reflects ▪ Positive: Reimbursement rate increases mitigating inflationary cost increases	-1 -0.9% Q3 2018	11 5.8% Q3 2019

EBIT in € million; % EBIT-margin

Diagrams: different scales applied │ 1 Excl. Corporate

9M 2019: PROFIT AND LOSS¹

	9M 2019 € million	9M 2018 € million	Growth in %	Growth in %cc
Revenue	12,897	12,247	5	1
Revenue adjusted	12,784	11,731	9	5
EBIT	1,653	2,425	-32	-35
EBIT margin in %	12.8	19.8	-7.0pp	-7.1pp
EBIT adjusted	1,641	1,656	-1	-5
EBIT adjusted margin in %	12.8	14.1	-1.3pp	-1.4pp
Net interest expense	327	244	34	29
Income before taxes	1,326	2,181	-39	-42
Income tax expense	292	448	-35	-37
Tax rate in %	22.0	20.5	1.5pp	1.6pp
Non-controlling interest	177	176	0	-5
Net income2	857	1,557	-45	-47
Net income adjusted	961	946	2	-3

1 For a detailed reconciliation for revenue and net income please refer to chart 31 │2 Attributable to shareholders of Fresenius Medical Care AG & Co KGaA

9M 2019: RECONCILIATION ADJUSTMENTS

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE IFRS FINANCIAL MEASURES

	9M 2019	9M 2018
Revenue	€ million 12,897	€ million 12,247
IFRS 16 implementation	75
NxStage operations	-188
H1 Sound1		-516
Revenue adjusted	12,784	11,731
Net income2	857	1,557
IFRS 16 implementation	45
NxStage operations	49
NxStage costs	16
Cost Optimization costs	23
H1 Sound1		4
(Gain) loss related to divestitures of Care Coordination activities	-29	-690
FCPA		75
Net income2 adjusted	961	946

1 Contribution of Sound Physicians │ 2 Attributable to shareholders of FMC AG & Co. KGaA

9M 2019 SERVICES

Revenue	9M 2019 € million	9M 2018 € million	Growth in %	Growth in %cc	Organic growth in %	Same market treatment growth in %
Total	10,265	9,852	4	0	5	4
North America	8,264	7,979	4	-3	4	4
of which Care Coordination	859	1,345	-36	-40	-4
EMEA	1,002	943	6	7	6	4
Asia-Pacific	632	569	11	7	6	7
of which Care Coordination	173	148	17	14	7
Latin America	367	361	2	24	21	2

9M 2019 PRODUCTS

Revenue	9M 2019 € million	9M 2018 € million	Growth in %	Growth in %cc	Organic growth in %
Total Health Care Products	2,632	2,395	10	8	5
Dialysis Products	2,576	2,339	10	8	5
North America	757	610	24	17	7
EMEA	926	909	2	2	2
Asia-Pacific	728	666	9	8	8
Latin America	149	144	4	8	7
Non-Dialysis Products	56	56	1	1	1

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE IFRS FINANCIAL MEASURES

€ million	Q3 2019 excl. IFRS 16	Q3 2019	2018	2017
Debt
Short term debt	1,566	1,566	1,205	760
+ Short term debt from related parties	358	358	189	9
+ Current portion of long-term debt	965	971	1,107	884
+ Current portion of long-term lease liabilities	-	628	-	-
+ Current portion of long-term lease liabilities from related parties	-	16	-	-
+ Long-term debt, less current portion	6,030	6,086	5,045	5,795
+ Long-term lease liabilities, less current portion	-	3,936	-	-
+ Long-term lease liabilities from related parties, less current portion	-	108	-	-
Total debt	8,919	13,669	7,546	7,448
Cash and cash equivalents	965	965	2,146	978
Total net debt	7,954	12,704	5,400	6,470

EBITDA

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE IFRS FINANCIAL MEASURES

€ million	Q3 2019 excl. IFRS 16	Q3 2019	2018	2017
EBITDA1
Last twelve month operating income (EBIT)	2,233	2,523	2,215	2,372
+ Last twelve month depreciation and amortization	849	1,365	716	731
+ Non-cash charges	46	46	45	51
EBITDA (annualized)	3,128	3,934	2,976	3,154
Net leverage ratio (Net debt/EBITDA)	2.5	3.2	1.8	2.1

1 EBITDA: including acquisitions & divestitures with a purchase price above €50m and excluding (gain) loss related to divestitures of Care Coordination activities with a sales price above €50m and excluding NxStage related transaction costs

ACQUISITIONS & INVESTMENTS AND CAPITAL EXPENDITURES

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE IFRS FINANCIAL MEASURES

€ million	Q3 2019	Q3 2018
Acquisitions and investments
Acquisitions, investments and net purchases of intangible assets	-101	-462
- Proceeds from divestitures	33	5
= Acquisitions and investments, net of divestitures	-68	-457
Thereof investments in securities, net of divestitures	-3	-180

	Q3 2019	Q3 2018
Capital expenditures, net
Purchase of property, plant and equipment	-291	-266
- Proceeds from sale of property, plant & equipment	7	9
= Capital expenditure, net	-284	-257

Q3 2019: EFFECTS ACCORDING TO IFRS 16

EFFECTS INCLUDING NXSTAGE

Balance Sheet	September 30, 2019 € million
Assets	4,319
Right-of-use assets	4,362
Machinery and equipment	15
Other assets	-58
Liabilities	4,319
Lease liablities	4,689
Other financial debt	61
Other liablities	-236
Equity	-195

Profit and loss statement	Q3 2019 € million
Revenue	-35
Profit from sale-leaseback transactions	-21
Rental expenses	-220
EBITDA	199
Depreciation expense	-178
EBIT	21
Net interest expenses	43
Taxes	-6
Net Income	-16

Cash flow statement	Q3 2019 € million
Cash provided by operating activities	153
Cash used in investing activities	-14
Cash used in financing activities	-139
Total	0

• Net leverage ratio increased by 0.7.

Page 37

UPDATE: ESTIMATED EFFECTS ACCORDING TO IFRS 16

ESTIMATED EFFECTS INCLUDING NXSTAGE

Balance Sheet	Impact 2019e ~ € million
Assets
Right-of-use assets	4,220
Machinery and equipment	100
Liabilities
Lease liablities	4,570
Other financial debt	100
Other liablities	-170
Equity	-180

Profit and loss statement	Impact 2019e ~ € million
Revenue	-110
Profit from sale-leaseback transactions	-40
Rental expenses	-820
EBITDA	780
Depreciation expense	-680
EBIT	100
Net interest expenses	170
Taxes	-20
Net Income	-50

Cash flow statement	Impact 2019e ~ € million
Cash provided by operating activities	620
Cash used in investing activities	-90
Cash used in financing activities	-530
Total	0

• Net leverage ratio will increase by about 0.6.

2018: PROFIT AND LOSS¹

	2018 € million	2017 € million	Growth in %	Growth in %cc
Revenue	16,547	17,784	-7	-2
Revenue on a comparable basis	16,547	16,739	-1	4
Revenue adjusted	16,547	16,645	-1	4
EBIT	3,038	2,362	29	33
EBIT margin in %	18.4	13.3	5.1pp	4.8pp
EBIT on a comparable basis	2,346	2,278	3	6
EBIT adjusted	2,346	2,409	3	1
EBIT adjusted margin in %	14.2	14.5	-0.3pp	-0.6pp
Net interest expense	301	365	-17	-14
Income before taxes	2,737	1,997	37	42
Income tax expense	511	443	15	21
Tax rate in %	18.7	22.2	-3.5pp	-3.3pp
Non-controlling interest	244	274	-11	-7
Net income	1,982	1,280	55	60
Net income on a comparable basis	1,377	1,242	11	14
Net income adjusted	1,185	1,162	2	4

1 For a detailed reconciliation please refer to chart 40

2018: RECONCILIATION ADJUSTMENTS

RECONCILIATION OF NON-IFRS FINANCIAL MEASURES TO THE MOST DIRECTLY COMPARABLE IFRS FINANCIAL MEASURES

	2018 € million	2017 € million
Revenue	16,547	17,784
IFRS 15 Implementation		-486
Sound H2 20171		-559
Revenue on a comparable basis	16,547	16,739
VA Agreement2		-94
Revenue adjusted	16,547	16,645
Net income5	1,982	1,280
(Gain) loss related to divestitures of Care Coordination activities	-673
Sound H2 20171		-38
2018 FCPA Related Charge	28
U.S. Ballot Initiatives3	40
Net income5 on a comparable basis	1,377	1,242
VA Agreement2		-51
Natural Disaster Costs4		11
2017 FCPA Related Charge		200
U.S. Tax Reform (excl. Sound H2 2017)6	-192	-240
Net income5 adjusted	1,185	1,162

1 Sound H2 2017: contribution of Sound Physicians │ 2 VA Agreement: Agreement with the United States Departments of Veterans Affairs and Justice │ 3 U.S. Ballot Initiatives: contributions to the opposition to the ballot initiatives in the U.S. │ 4 Natural Disaster Costs: three hurricanes and an earthquake │ 5 Attributable to shareholders of FMC AG & Co. KGaA │ 6 U.S. Tax Reform: impacts from U.S. tax reform

BASIS FOR TARGETS 2019

2018 BASE FOR TARGETS 2019 ON A QUARTERLY BASIS

EUR million	FY 2018	Q1 2018	Q2 2018	Q3 2018	Q4 2018
Revenue	16,547	3,976	4,214	4,058	4,300
Sound H1 20181	-521	-251	-258	-7	-5
Revenue adjusted	16,026	3,725	3,956	4,051	4,295
EBIT	3,038	497	1,401	527	613
Sound H1 20181	-14	-4	-10	0	0
(Gain) loss related to div. of Care Co.	-809	13	-833	-10	21
2018 FCPA related charge	77	0	0	75	2
EBIT adjusted	2,292	506	558	592	636
Net income2	1,982	279	994	285	425
Sound H1 20181	4	4	0	0	0
(Gain) loss related to div. of Care Co.	-673	13	-686	-17	17
2018 FCPA related charge	28	0	0	75	-47
Net income2 adjusted	1,341	296	308	343	395

1 Contribution of Sound Physicians │ 2 Attributable to shareholders of FMC AG & Co. KGaA

RETURN ON INVESTED CAPITAL¹ (ROIC)

▪ Long-term value creation based on accretive acquisitions and organic growth

▪ ROIC adjusted² (esp. for divestitures of Care Coordination activities): around 8.0%

1 Based on net operating profit after tax & average invested capital; adjusted for largest acquisitions and divestitures │

2 Adjusted for the divestiture of Care Coordination activities, FCPA related charge, U.S. Ballot Initiatives, U.S. tax reform / including these effects, ROIC for FY 2018 was 12.4%

Q3 2019: QUALITY OUTCOMES REMAIN ON HIGH LEVEL¹

		NORTH AMERICA EMEA		LATIN AMERICA		ASIA-PACIFIC
% of patients	Q3 2019	Q3 2018	Q3 2019	Q3 2018	Q3 2019	Q3 2018	Q3 2019	Q3 2018
Kt/V ≥ 1.2	97	97	94	94	91	91	95	96
Hemoglobin = 10–12 g/dl	71	72	82	82	50	53	52	58
Calcium = 8.4–10.2 mg/dl	82	85	79	80	77	75	71	73
Albumin ≥ 3.5 g/dl	80	80	90	90	90	91	88	89
Phosphate ≤ 5.5 mg/dl	60	61	80	79	76	76	65	67
Patients without catheter (after 90 days)	82	83	78	79	80	80	83	87
in days
Days in hospital per patient year	10.1	10.8	7.5	7.7	4.2	4.2	2.4	3.5

1 Definitions of quality parameters cf. 2018 Annual Report, Section "Non-Financial Group Report", page 87

SUSTAINABILITY GOVERNANCE STRUCTURE

GLOBAL SUSTAINABILITY GOVERNANCE

• At Fresenius Medical Care, sustainability is firmly established at Board level.
• Responsibility for the Company's sustainability efforts lies with the Sustainability Decision Board (headed by the CEO).
• The Sustainability Decision Board and the Corporate Sustainability Committee enable the Corporate Sustainability Office to manage Fresenius Medical Care's sustainability program.
• The Corporate Sustainability Committee has an advisory and steering role. It consists of senior representatives of all regions and global functions.

Page 44

EXCHANGE RATES U.S. DIALYSIS DAYS PER QUARTER

Euro vs.		9M 2019	9M 2018	FY 2018
€:\$	Period end	1.089	1.158	1.145
	Average	1.124	1.194	1.181
€:CNY	Period end	7.778	7.966	7.875
	Average	7.713	7.779	7.808
€:RUB	Period end	70.756	76.142	79.715
	Average	73.085	73.395	74.026
€:ARS	Period end	62.609	47.423	43.039
	Average	50.014	29.845	32.984
€:BRL	Period end	4.529	4.654	4.444
	Average	4.365	4.297	4.308

	Q1	Q2	Q3	Q4	Full year
2019	76	78	79	80	313
2018	77	78	78	80	313
2017	77	78	79	79	313
2016	78	78	79	79	314
2015	76	78	79	79	312

DEFINITIONS

cc	Constant currency
HD	Hemodialysis
PD	Peritoneal dialysis
Net income	Net income attributable to shareholders of FME
H1 Sound	Contribution of Sound Physicians on the profit and loss statement in 2018

FINANCIAL CALENDAR 2019 AND 2020¹

REPORTING DATES & AGM

February 20, 2020	Report on FY 2019
May 6, 2020	Report on 1st quarter 2020
May 19, 2020	Annual General Meeting, Frankfurt
July 30, 2020	Report on 2nd quarter 2020
October 29, 2020	Report on 3rd quarter 2020

CONFERENCES

November 6, 2019	Morningstar Conference, Chicago
November 7, 2019	HSBC Luxembourg Conference
November 11, 2019	HSBC Healthcare Day, Frankfurt
November 12, 2019	UBS European Healthcare Conference, London
November 12, 2019	Credit Suisse Healthcare Conference, Scottsdale
November 21, 2019	Jefferies Global Healthcare Conference, London
December 3, 2019	Berenberg European Conference, London
December 4, 2019	Evercore ISI Healthcare Conference, Boston
December 5, 2019	Société General "The Premium Review" Conference, Paris

1 Please note that dates and/or participation might be subject to change

FME INVESTOR RELATIONS

Else-Kröner-Str. 1 61352 Bad Homburg v.d.H. Germany

TICKER: FME or FMS (NYSE) WKN: 578 580 ISIN: DE00057858002

DR. DOMINIK HEGER

Head of Investor Relations and Corporate Communications

+49(0) 6172–609–2601 dominik.heger@fmc-ag.com

ROBERT ADOLPH

Vice President Investor Relations

+49(0) 6172–609–2477 robert.adolph@fmc-ag.com

PHILIPP GEBHARDT

Director Investor Relations

+1-781-699-2142 philipp.gebhardt@fmc-ag.com