Q3 2015 Investor Conference Call Presentation

Investor Conference CallQ3 2015 Results

October 29, 2015 / Marijn Dekkers, CEO

• Q3 2015 Investor Conference Call • Marijn Dekkers

DisclaimerThis presentation may contain forward-looking statements based on currentassumptions and forecasts made by Bayer Group or subgroup management.

Various known and unknown risks, uncertainties and other factors could lead tomaterial differences between the actual future results, financial situation,development or performance of the company and the estimates given here.These factors include those discussed in Bayer’s public reports which areavailable on the Bayer website at www.bayer.com.

The company assumes no liability whatsoever to update these forward-lookingstatements or to conform them to future events or developments.


Q3 2015 –Operational and Strategic Progress

Successful Covestro debut on the Frankfurt Stock exchange*

Further organic growth and significantly improved earnings

Built further growth momentum at Pharma

Solid performance of Consumer Health

CropScience with higher sales and earnings in challenging environment

Full-year 2015 Group guidance reiterated

• Q3 2015 Investor Conference Call • Marijn Dekkers * Bayer retains 69%

EBITin € million

+16%

1,565

1,346

Salesin € million% currency & portfolio adj.

+2%

11,036

9,967

EBITDAbefore special itemsin € million

+28%

2,523

1,977

Core EPSin €

+28%

1,69

1,32

Q3’15Q3’14 Q3’15Q3’14 Q3’15Q3’14 Q3’15Q3’14

Q3 2015 –Bayer Significantly Improves Earnings

• Q3 2015 Investor Conference Call • Marijn Dekkers Continuing operations

Q3 2015 –Cash Flow And Net Debt Development

-1.9bn

19.3GCF oFCF

1,427

CapEx

654 1,652

∆y-o-y -3% +34%

NCF

2,306

+29% -20%June 30, 2015 Sept. 30, 2015

21.1


Cash Flow in € million, ∆% yoy Fx adj.

Net Debtin € billion

Continuing operations

Q3 2015 – HealthCare: All Businesses With Higher Sales

Pharma+15% (+12%)

ConsumerHealth+28% (+2%)

36%

HealthCare €5,651m; +19% (+8%)

3,4822,169

Price+1%

Volume+8%

Fx+3%

Portfolio+8%

1139

408

+19%

+32%

1,677

1,368

+23%

309 +29%

1,008

1,265 +25%

699

399

EBITDA EBIT

866 +24%


Sales Earnings

Q3‘14 Q3‘15 Q3‘14 Q3‘15

960

538

in € million; ∆% yoy, () = Fx & portfolio adj. before special items, in € million; ∆% yoy

Q3 2015 – Pharma:Launch Products Drove Growth


Launch products

Pharmaceuticals €3,482m; +15% (+12%)

1,082

Q3‘14 Q3‘15 Q3‘14 Q3‘15

960

1,139 +19%

699

866 +24%

Salesin € million; ∆% yoy, () = Fx & portfolio adj.

Earningsbefore special items, in € million; ∆% yoy

+42%

EBITDA EBIT

Q3 2015 – Consumer Health:Solid Growth in All Businesses


Medical Care+6% (+4%)

ConsumerCare

+42% (+2%)

Consumer Health €2,169m; +28% (+2%)

388

1,424

Q3‘14 Q3‘15 Q3‘14 Q3‘15

408

538 +32%

309

+29%399

Animal Health+8 (+2%)

357

Salesin € million; ∆% yoy, () = Fx & portfolio adj.


EBITDA EBIT

Q3 2015 – CropScience: Resilient in Challenging Market Environment

Crop Protection+11% (+3%)

Environmental Science+5% (-7%)

Seeds-5% (-5%)

CropScience €2,113m; +10% (+2%)

Price-3%

Volume+4%

Fx+7%

Portfolio+1%

1,833

Q3‘14 Q3‘15 Q3‘14 Q3‘15

278309 +11%

157

184 +17%

156124


Salesin € million, ∆% yoy, () = Fx & portf. adj.

EBITDA EBIT


Covestro Makes Its Successful Debut


Ticker: 1COV

Full Year 2015 –Group Guidance Reiterated

2014restated

2015Update September

Fx effect

Sales €41.3bnLow-single-digit %

increase~ €46

~ +6%

EBITDAbefore special items

€8.7bn High-teens % increase ~ +4%

core EPS €5.89 High-teens % increase ~ +4%

Sales ∆% Fx and portfolio adjusted, continuing operations

Assuming end Q3’15 Fx ratesOutlook depends on specific planning assumptions as detailed in the Annual Report• Q3 2015 Investor Conference Call • Marijn Dekkers

Investor Conference CallQ3 2015 Results

October 29, 2015 / Marijn Dekkers, CEO


Q3 2015 Investor Conference Call Presentation

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