Fresenius : Conference Call Q1/2024

#FutureFresenius: A stronger and simpler Company off to an excellent start in Q1/24; Outlook raised

Bad Homburg, 08 May 2024

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, the availability of financing and unforeseen impacts of international conflicts.

Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation.

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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1. Business update
2. Financial review Q1/24
3. #FutureFresenius

Q1/24: Strong start paced by focus and execution

Kabi and Helios deliver excellent top- and bottom-line growth

Biopharma EBIT break-even in Q1/24

VAMED exit: Strategic portfolio measures concluded

More predictable, higher-quality earnings going forward Strong EPS growth momentum

#FutureFresenius - 2024 outlook raised

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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Fully focused on top- and bottom-line improvements

Consistent OpCo revenue growth

Quarterly

REVENUE revenues

UP

YoY	Q1/23	Q2/23	Q3/23	Q4/23	Q1/24
+5%	+8%	+6%	+6%	+7%
organic

Steady ramp-up cost and efficiency program

Cumulative

COST savings

DOWN

Q1/23

Q2/23

Q3/23

Q4/23

Q1/24

TARGET

UPGRADE

EPS GROWTH

TO ACCELERATE

DEBT RATIO TO IMPROVE

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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Outlook raised

Revenue (org.)

4 - 7% GROWTH

Earnings per Share

EBIT (cc)

6 - 10% GROWTH

Re-VITALIZE

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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Excellent Q1/24 - Kabi and Helios deliver strongly on top- and bottom-line

E B I T

( M A R G I N )

R E V E N U E ( O R G .

G R O W T H )

€310m

€2.1bn

14 - 17

15.1%

4 - 7

+9%1

	9-11
€353m			11.1%
	3 - 5
		+5%
€3.2bn

K E Y	 Excellent organic revenue growth fueled
M E S S A G E S		by Growth Vectors
		EBITDA margin of 21.5% in Q1/24
		Strong EBIT margin paced by break-
		even profitability in Biopharma

Before special items

1 Organic growth rate adjusted for accounting effects related to Argentina hyperinflation

• Excellent EBIT margin of 11.1% slightly above top-end of structural margin band in Q1/24
• Strong organic revenue growth driven by healthy activity levels as well as price effects

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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Business Highlights Kabi Q1/24

CONSISTENT STRATEGY	SELECTED
EXECUTION	HIGHLIGHTS Q1/24

Vision 2026 at work

• Biopharma progressing well
• Nutrition success continues to be driven by PN roll-out in the US
• MedTech in-line with expectations based on volume and price growth
• Pharma posted very solid results driven by new generic launches and operational excellence

Innovation

• First two launches of FSMP1 products in China, defining the starting point of the new product segment for Fresenius Kabi

1 Food for special medical purposes

Biopharma momentum accelerates

• Successful launch of Tyenne® in the EU and the US
• mAbxience and Teva announce strategic global license agreement
• Fresenius and Formycon reach settlement agreement for Ustekinumab biosimilar candidate

Resilience in Pharma

• Fresenius Kabi further expands oncology portfolio with launch of Cyclophosphamide

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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Strong momentum of Tyenne EU launches; US rollout underway

€2.8bn originator sales in 20231

1st Tocilizumab Biosimilar to market

Up to 3 presentations available2:

Vials for IV administration, Prefilled Syringe and Autoinjector for subcutaneous administration

Launched in 12 European countries and the US

1. In US and EU/ROW; converted at latest available exchange rates
2. Availability and launch timing vary of formulations vary by country

Strong commercial traction in Europe

• Strong access with broad-based payer coverage
• Multiple tender wins across European countries
• Market share ramp-upfully on track

Tyenne unit share Feb 2024

in % of total market

GermanySpain

15%	12%

US commercial launch underway

• IV formulation available in the US since April 15,2024
• Subcutaneous formulation also FDA-approved since March 5, 2024
• Differentiated multi-channel launch strategy; strong feedback from payers, providers and healthcare professionals

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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mAbxience continues to expand its network of commercial partners

SELECTED PARTNERSHIP EXAMPLES

amneal©	2018	Exclusive licensing and supply agreement in the U.S. for
Pharmaceuticals		mAbxience's Bevacizumab
	2023	Exclusive licensing agreement for two Denosumab Biosimilars in
		the U.S. for the Treatment of Oncology and Bone Diseases
Abbott	2023	Strategic Agreement to Broaden Access to a Pipeline of
		Biosimilars in Key Emerging Markets
MSpharma	2023	Partnership for Denosumab Biosimilar in selected MEA countries

INTAS	2023	Licensing Agreement for Etanercept Biosimilar in more than 150
		Countries, including Europe and the U.S.
teva	2024	Strategic Global Licensing Agreement for Oncology Biosimilar
		Candidate

• 30 global and regional partners

Access to 100+ markets globally

Q1/24 Results, 8 May 2024 © Fresenius SE & Co. KGaA Investor Relations

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