Investor Conference CallQ3 2014 Results

October 30, 2014 / Marijn Dekkers, CEO

• Q3 2014 Investor Conference Call • Marijn Dekkers Page 1

Disclaimer

This 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 2014 Investor Conference Call • Marijn Dekkers Page 2

Page 3

Q3 2014 – Operational Strength and Strategic Focus on Life Sciences

� Strong organic top line growth in all subgroups

� Underlying EBITDA improvement negatively impacted by minus

€80m FX effect

� Business portfolio significantly strengthened and focused

� Planned stock-market listing of MaterialScience announced

� Merck & Co. CC acquisition & sGC pharma collaboration closed

� Divestiture of Interventional business closed

� Full-year group guidance 2014 raised

• Q3 2014 Investor Conference Call • Marijn Dekkers CC: Consumer Care

Page 4

EBIT

in € million

+13%

1,3761,221

Salesin € million% currency & portfolio adj.

+7%

10,1879,643

EBITDAadjusted*in € million

+1%

2,0111,984

Core EPS

in €

*before special items

Q3’14Q3’13 Q3’14Q3’13 Q3’14Q3’13 Q3’14Q3’13

Q3 2014 – Strong Organic Growth / Earnings Performance Impacted By FX

• Q3 2014 Investor Conference Call • Marijn Dekkers

+6%

1.351.27

Q3 2014 – Regional Performance: Growth In All Regions

Page 5

Africa & Middle East

EasternEurope

Emerging Markets

EmergingMarkets¹

+12%

Others²+4%

USA+8%

Western Europe+2%

Group Sales by Region

Group €10,187m; +7%

~1,500

+15%~1,600

+11%

~400

+4%~600

+12%

¹ Emerging economies include: Latin America, Asia w/o Japan, Australia,New Zealand, Africa and Middle East incl. Turkey, Eastern Europe

² Others = Japan, Australia, New Zealand, Canada³ Emerging Asia = Asia w/o Japan, Australia, New Zealand

In € million, ∆% yoy Fx adjusted

41%

8%30%

21%

Latin America

EmergingAsia³

• Q3 2014 Investor Conference Call • Marijn Dekkers

Q3 2014 –Cash Flow And Net Debt Development

Page 6

-€1.4bn8.5

GCF oFCF

1,492

Invest-ments

546 1,270

∆

y-o-y +9% +5%

NCF

1,816

+5% +6%June 30, 2014 Sep 30, 2014

9.9

Cash Flow Net Debt DevelopmentCash Flow in € million, Net Debt in € billion

• Q3 2014 Investor Conference Call • Marijn Dekkers

Q3 2014 – HealthCare: Continued Dynamic Growth Driven by Pharma & Consumer Care

Page 7*before special items

Sales Earnings

Pharma+8% (+10%)

ConsumerHealth

0% (+2%)36%

HealthCare €4,960m; +5% (+7%)

3,0391,921

Price+1%

Volume+6%

Fx-2%

Portfolio0%

In € million,∆% yoy, () = Fx & portf. adjusted

Q3‘13 Q3‘14 Q3‘13 Q3‘14

1,392 1,402 +1%

1,048 1,037 -1%

Adj.EBITDA*

Adj.EBIT*

• Q3 2014 Investor Conference Call • Marijn Dekkers

Q3 2014 – Pharma: Launch Products Continue to Drive Growth

Page 8*before special items

Sales Earnings

Launch products

Pharmaceuticals €3,039m; +8% (+10%)

750

In € million,∆% yoy, () = Fx & portf. adjusted

Q3‘13 Q3‘14 Q3‘13 Q3‘14

915

960 +5%

677

Adj.EBITDA*

Adj.EBIT*

699 +3%

• Q3 2014 Investor Conference Call • Marijn Dekkers

Q3 2014 – Consumer Health: Continued Strong Consumer Care and Animal Health Business

Page 9*before special items

Sales Earnings

Medical Care-5% (-4%)

ConsumerCare

+2% (+6%)

36%

Consumer Health €1,921m; 0% (+2%)

585

1,006

In € million,∆% yoy, () = Fx & portf. adjusted

Q3‘13 Q3‘14 Q3‘13 Q3‘14

477442 -7%

371-9%338

Adj.EBITDA*

Adj.EBIT*

• Q3 2014 Investor Conference Call • Marijn Dekkers

Animal Health+3% (+4%)

330

Sales Earnings

Q3 2014 – CropScience: Continued Strong Performance in North / Latin America

Page 10

Crop Protection+10% (+12%)

Environmental Science+6% (+8%)

Seeds+93% (+96%)

In € million,∆% yoy, () = Fx & portf. adjusted

CropScience €1,929m; +13% (+15%)

Price+3%

Volume+11%

Fx-2%

Portfolio0%

1,650

Q3‘13 Q3‘14 Q3‘13 Q3‘14

224278 +24%

115157 +37%

Adj.EBITDA*

Adj.EBIT*

148131

• Q3 2014 Investor Conference Call • Marijn Dekkers *before special items

Sales Earnings

Q3 2014 – MaterialScience: Volumes Driven by Increased Demand

Page 11**CAS: Coatings, Adhesives, Specialties *** IO: Industrial Operations

CAS**+3% (+5%)

In € million,∆% yoy, () = Fx & portf. adjusted

*before special items

MaterialScience €3,036m; +5% (+5%)

Price-1%

Volume+6%

Fx0%

Portfolio0%

1,652726

IO***-9% (-9%)

Q3‘13 Q3‘14 Q3‘13 Q3‘14

Adj.EBITDA*

Adj.EBIT*

346 334 -3%

186 186

503

155

• Q3 2014 Investor Conference Call • Marijn Dekkers

Polyurethanes+5% (+6%)

Polycarbonates+8% (+8%)

0%

Q3 2014 –Full-Year Group Guidance Raised

Page 12

20132014E

as of Feb ‘14(Avg. Fx rates Q4’13)

2014E*(Spot Fx rates as of

Sep 30, 2014 for Q4’14)

Sales €40.2bn~5% to

~€41-42bn(neg. FX effect approx. -2%)

~6% to~€42bn

(neg. FX effect approx. -3%)

adj. EBITDA €8.4bnlow- to mid-single-digit % increase

(neg. FX effect approx. -5%)

mid-single-digit % increase

(neg. FX effect approx. -5%)

core EPS €5.61mid-single-digit %

increase(neg. FX effect approx. -6%)

mid- to high-single-digit % increase

(neg. FX effect approx. -7%)

Sales ∆ Fx and portfolio adjusted, EBITDA before special items

Outlook depends on specific planning assumptions as detailed in the Annual Report*including Merck & Co. Consumer Care business from Oct 1, 2014• Q3 2014 Investor Conference Call • Marijn Dekkers

Investor Conference CallQ3 2014 Results

October 30, 2014 / Marijn Dekkers, CEO

• Q3 2014 Investor Conference Call • Marijn Dekkers Page 13