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Disclaimer This presentation   may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material 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 are available on the Bayer website at  www.bayer.com . The company assumes no liability whatsoever to update these forward-looking statements or to conform   them to future events or developments.
1st Quarter 2011 – Bayer Off To A Successful Start Strong business expansion, all subgroups contributing,  sales up 13% (10%) to €9.4bn, adj. EBITDA up 22% at €2.2bn, Core EPS up 28% to €1.45 Reported earnings impacted by high special charges,   €442m special charges due to restructuring and litigation, reported EPS at €0.83 up 9% Strong cash generation,   net cash flow up 9% to €801m, oFCF up 12% to €563m, net debt lowered by €0.8bn to €7.1bn (q-o-q) Full-year group guidance for 2011 raised on expected improvement at CropScience
1st Quarter 2011 –  Off To A Successful Start Sales in € million % portfolio & currency adj. +10% EBITDA pre-special items in € million +22% Core EPS in € +28% Net Cash Flow in € million +9% Q1´10 Q1´11 9,415 8,316 Q1´10 Q1´11 2,232 1,825 Q1´10 Q1´11 1.45 1.13 Q1´10 Q1´11 801 732
1st Quarter 2011 – Reported Earnings Development In € million Q1 2010 Q1 2011 Δ% EBIT 1,104 1,148 +4 Non-operating result -244 -213 +13 Pre-tax income 860 935 +9 Net income 631 684 +8 Earnings per share € 0.76 € 0.83 +9
1st Quarter 2011 – Strong Growth In All Regions Led By Emerging Markets Latin America Eastern Europe Africa & Middle East Emerging Asia³ Emerging Economies Emerging Economies¹ +16% Others² +8% USA +6% 12% 33% 36% 19% Western Europe +9% Q1 2011 Group sales by region Group €9,415m; +10% ~1,200 +14% ~900 +14% ~600 +27% ~400 +13% 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, Canada ³  Emerging Asia = Asia minus Japan, Australia, New Zealand In € million, Δ% yoy Fx adjusted
1st Quarter 2011 – Cash Flow And Net Debt Development -0.8 Q1 2011 Cash Flow Net Debt Development GCF oFCF 1,309 Invest- ments 238 In € billion Q4´10 Q1´11 7.9 7.1 563 Δ % y-o-y +11% +12%  NCF cont. 801 +9% In € million +3%
1st Quarter 2011 – All Segments Contributed To The Business Expansion ¹ Environmental Science/BioScience In € million, ( ) = Fx & portfolio adjusted Sales adj. EBITDA 2010 2011 Δ % (adj.) 2010 2011 Δ % HealthCare 3,869 4,166 +8 (+4) 1,023 1,140 +11 Pharma 2,531 2,649 +5 (+1) 759 803 +6 Consumer Health 1,338 1,517 +13 (+10) 264 337 +28 CropScience 1,952 2,257 +16 (+14) 531 745 +40 Crop Protection 1,476 1,676 +14 (+12) 352 510 +45 ES/BS¹ 476 581 +22 (+18) 179 235 +31 MaterialScience 2,216 2,686 +21 (+19) 278 345 +24
Group Outlook Raised On Expected Improvement At CropScience Sales  Δ  Fx and portfolio adjusted, EBITDA pre-special items Outlook depends on specific planning assumptions as detailed in the Q1 Quarterly Report 2010 Δ 2011E (previous guidance) 2011E (revised guidance) Sales (Fx & portf. adjusted) € 35.1bn +8% 4-6% to € 35-36bn 5-7% to  € 36-37bn adj. EBITDA € 7.1bn +10% improve toward €7.5bn > €7.5bn Core EPS € 4.19 +15% ≈ 10% ≈ 15%
2011 Revised Guidance By Subgroup Outlook based on Fx and portfolio adj. sales and EBITDA pre-special items Outlook depends on specific planning assumptions as detailed in the Q1 Quarterly Report HealthCare Unchanged: Low- to mid-single digit increase of sales and small increase of adj. EBITDA Pharma Unchanged: Low- to mid-single digit increase of sales and improvement of adj. EBITDA-margin Consumer Health Unchanged: Mid-single digit growth of sales and adj. EBITDA CropScience Raised: High- (previously: mid-) single-digit percentage higher sales and growth of adj. EBITDA by approx. 20% (previously: at a higher rate than sales) MaterialScience Updated to reflect raw material cost induced price increases High- (so far: mid-) single digit percentage increase of sales and growth of adj. EBITDA at a higher rate than sales. Q2’11: Higher sales and improved adj. EBITDA versus Q1’11
 

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Q1 2011 Investor Conference Call Presentation Charts

  • 1.  
  • 2. Disclaimer This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material 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 are available on the Bayer website at www.bayer.com . The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
  • 3. 1st Quarter 2011 – Bayer Off To A Successful Start Strong business expansion, all subgroups contributing, sales up 13% (10%) to €9.4bn, adj. EBITDA up 22% at €2.2bn, Core EPS up 28% to €1.45 Reported earnings impacted by high special charges, €442m special charges due to restructuring and litigation, reported EPS at €0.83 up 9% Strong cash generation, net cash flow up 9% to €801m, oFCF up 12% to €563m, net debt lowered by €0.8bn to €7.1bn (q-o-q) Full-year group guidance for 2011 raised on expected improvement at CropScience
  • 4. 1st Quarter 2011 – Off To A Successful Start Sales in € million % portfolio & currency adj. +10% EBITDA pre-special items in € million +22% Core EPS in € +28% Net Cash Flow in € million +9% Q1´10 Q1´11 9,415 8,316 Q1´10 Q1´11 2,232 1,825 Q1´10 Q1´11 1.45 1.13 Q1´10 Q1´11 801 732
  • 5. 1st Quarter 2011 – Reported Earnings Development In € million Q1 2010 Q1 2011 Δ% EBIT 1,104 1,148 +4 Non-operating result -244 -213 +13 Pre-tax income 860 935 +9 Net income 631 684 +8 Earnings per share € 0.76 € 0.83 +9
  • 6. 1st Quarter 2011 – Strong Growth In All Regions Led By Emerging Markets Latin America Eastern Europe Africa & Middle East Emerging Asia³ Emerging Economies Emerging Economies¹ +16% Others² +8% USA +6% 12% 33% 36% 19% Western Europe +9% Q1 2011 Group sales by region Group €9,415m; +10% ~1,200 +14% ~900 +14% ~600 +27% ~400 +13% 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, Canada ³ Emerging Asia = Asia minus Japan, Australia, New Zealand In € million, Δ% yoy Fx adjusted
  • 7. 1st Quarter 2011 – Cash Flow And Net Debt Development -0.8 Q1 2011 Cash Flow Net Debt Development GCF oFCF 1,309 Invest- ments 238 In € billion Q4´10 Q1´11 7.9 7.1 563 Δ % y-o-y +11% +12% NCF cont. 801 +9% In € million +3%
  • 8. 1st Quarter 2011 – All Segments Contributed To The Business Expansion ¹ Environmental Science/BioScience In € million, ( ) = Fx & portfolio adjusted Sales adj. EBITDA 2010 2011 Δ % (adj.) 2010 2011 Δ % HealthCare 3,869 4,166 +8 (+4) 1,023 1,140 +11 Pharma 2,531 2,649 +5 (+1) 759 803 +6 Consumer Health 1,338 1,517 +13 (+10) 264 337 +28 CropScience 1,952 2,257 +16 (+14) 531 745 +40 Crop Protection 1,476 1,676 +14 (+12) 352 510 +45 ES/BS¹ 476 581 +22 (+18) 179 235 +31 MaterialScience 2,216 2,686 +21 (+19) 278 345 +24
  • 9. Group Outlook Raised On Expected Improvement At CropScience Sales Δ Fx and portfolio adjusted, EBITDA pre-special items Outlook depends on specific planning assumptions as detailed in the Q1 Quarterly Report 2010 Δ 2011E (previous guidance) 2011E (revised guidance) Sales (Fx & portf. adjusted) € 35.1bn +8% 4-6% to € 35-36bn 5-7% to € 36-37bn adj. EBITDA € 7.1bn +10% improve toward €7.5bn > €7.5bn Core EPS € 4.19 +15% ≈ 10% ≈ 15%
  • 10. 2011 Revised Guidance By Subgroup Outlook based on Fx and portfolio adj. sales and EBITDA pre-special items Outlook depends on specific planning assumptions as detailed in the Q1 Quarterly Report HealthCare Unchanged: Low- to mid-single digit increase of sales and small increase of adj. EBITDA Pharma Unchanged: Low- to mid-single digit increase of sales and improvement of adj. EBITDA-margin Consumer Health Unchanged: Mid-single digit growth of sales and adj. EBITDA CropScience Raised: High- (previously: mid-) single-digit percentage higher sales and growth of adj. EBITDA by approx. 20% (previously: at a higher rate than sales) MaterialScience Updated to reflect raw material cost induced price increases High- (so far: mid-) single digit percentage increase of sales and growth of adj. EBITDA at a higher rate than sales. Q2’11: Higher sales and improved adj. EBITDA versus Q1’11
  • 11.