18.09.2015

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2015 Half-year resultsConference presentation for investors, analysts & media

Basel, 20 August 2015

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This presentation contains certain forward-looking statements that reflect the current views ofmanagement. Such statements are subject to known and unknown risks, uncertainties andother factors that may cause actual results, performance or achievements of the StraumannGroup to differ materially from those expressed or implied in this presentation. Straumann isproviding the information in this presentation as of this date and does not undertake anyobligation to update any statements contained in it as a result of new information, futureevents or otherwise.

The availability and indications/claims of the products illustrated and mentioned in thispresentation may vary according to country.

Disclaimer

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First-half highlightsMarco Gadola, CEO

2015 H1 - Strong underlying growth andprofitability

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REVENUE BEST REGIONAL PERFORMERS KEY DRIVERS

CHF

399m APAC & LATAM Roxolid & BLT

Organic1 revenue growth of 9% (H1) and 10% (Q2) - strongest quarter in 6 years

Both regions post mid-teen revenue growth, while EMEA builds on recovery and is a main growth driver

Implants grew across all regions driven by Roxolid and Bone Level Tapered (BLT) implant range

UNDERLYING EBIT MARGIN2 UNDERLYING NET PROFIT 2 GUIDANCE

24%

CHF

73m FY targets raised

Addition of accretive Neodent and operational gearing more than offset FX shock in January 2015

with underlying margin at 18% - before non-cash exceptional charges2

Group aims to deliver organic revenue growth in mid- to higher-single digits;underlying EBIT margin in low 20’s.

1 Organic growth – i.e. excluding the effects of acquisitions, divestitures and currency exchange rates2 Charges in H1 2015 related to the Neodent business combination amounted to CHF 77m (CHF 73m after tax), which include inventory

revaluation of CHF 13m (COGS) and a CHF 64m net loss below the EBIT line.

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5

Underlying margin expansions on all levels

Organic revenue growthexcl. acquisition and

and FX effect

Gross margin (in %)excl. exceptionals

and FX effect

EBIT margin (in%)excl. exceptionals

and FX effect

Underlying EPSexcl. exceptionals

and FX effect

365.1

398.5

2014 2015

77.979.1

2014 2015

+9.2%

18.6

24.0

2014 2015

+120bps

3.67

4.59

2014 2015

+540bps or +370bps

excl. Neodent+24.8%

Combined forces

Employees Sales by region H1 20151

EMEA 48%

North America

27%APAC 15%

LATAM 10%

0

1000

2000

3000

4000

2000 2005 2010 2015

61 Figures include Neodent at time of consolidation on 1 March 2015

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Business and regional reviewPeter Hackel, CFO

Impact on Reason

Exceptional Other

Cost of goods sold (13) Inventory adjustments

Distribution costs (2) Amortization of customer-related intangible assets1

21 Revaluation gain due to derecognition of the initial 49% investment

(85)Foreign exchange loss due to depreciation of BRL against CHF between initial 49% acquisition in 2012 and full combination in 2015

Result of associates (7)Provision charges related to a change in a distribution agreement and litgation; charges were booked by Neodent prior to the consolidation in March

Tax effect on exceptionals

4 Exceptionals partially tax deductible

Total exceptionals (73) Total effect of exceptionals on net profit

Gain/loss on consolidation

Amount in CHF million

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Key impacts of Neodent business combination

EB

IT

Ne

t Pro

fit

Neodent contributed CHF 28m to Group’s revenue from 1 March to 30 June

1 Customer-lists will be amortized over 7 years and amount to approx. CHF 7 million p.a. and will vary depending on the BRLCHF currency development.

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9

Significant profitability improvements

in CHF million Change (rounded)

Reportedbefore business

combination exceptionals

Reported excluding FXexcluding FX and

exceptionals

Revenue 398.5 359.1 340.4

Organic growth% 9.2% 4.6%

Gross profit 301.9 315.0 283.4 265.1 19%

margin 75.8% 79.1% 78.9% 77.9% 120 bps

EBITDA 98.6 111.7 88.8 76.9 45%margin 24.8% 28.0% 24.7% 22.6% 540 bps

EBIT 82.7 95.8 75.0 63.3 51%margin 20.7% 24.0% 20.9% 18.6% 540 bps

Net profit (0.7) 72.6 68.7

margin (0.2%) 18.2% 19.1%

Basic EPS (0.10) 4.59 4.42 3.67

Free cash flow 44.9 37.60

margin 11.3% 10.5%

H1 2014H1 2015

In % of revenue, rounded

Gross margin expansion; volume/mix and inventory effect offset FX headwind

101 Change in finished and semi-finished goods in 2015 compared with prior year

20152014

78.9%

(1.0%)

77.9%

0.9%

1.6% (1.2%)

79.2%

(0.1%)(3.3%)

75.8%

Gross profitmargin

FX effect Adj. grossprofit margin

Price / volume/ mix

Inventorychange

Volume drivenmaterial andlabor costs

Like-for-likegross profit

margin

Neodentoperational

Exceptionals Reportedgross profit

margin

+120 bps incl. Neodent

+130 bps

20152014

1

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20.9%

(2.3%)

18.6%

0.7%2.1%

1.0% (0.1%)

22.3%

1.7% (3.3%)

20.7%

Reported H1EBIT margin

FX effect Adjusted H1EBIT margin

Gross marginimprovement

Distributioncosts

Administrationexpenses

Other income Like-for-likeH1 EBITmargin

Neodentoperational

Exceptionals Reported H1EBIT margin

EBIT margin expands despite FX headwind

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20152014

1 A provision of CHF 12.5m is included in 2014 in connection with the agreed changes of Straumann’s go-to-market approach in China

In % of revenue, rounded

+540 bps incl. Neodent

+370 bps

1

24.0% incl. Neodent

68.7

20.8 (7.4)

(11.5)

2.1

72.6

(73.2)

(0.7)

Reported netprofit H1

EBIT Financial result Share of resultsfrom associate

Income taxes Net profit H1excl.

exceptionals

Exceptionals Reported net lossH1

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Net profit reaches CHF 73m excl. exceptionals

2015

In CHF million, rounded

2014

Net profit margin 19.1%

Net profit margin 18.0%

1 Incl. CHF 2m of amortization expenses (Neodent’s customer-related intangible assets) 2 Prior to the business combination, the Neodent result was reduced by provisions for a distributor agreement and an ongoing litigationin the amount of CHF 7 million.

1

2

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37.6

9.9

29.8 (10.5)

0.7 (2.2) (18.4)

(1.9)

44.9

Free cash flowH1 2014

EBITDAimprovment

Improvedworking capital

Higher CAPEXinvestments

Higher interestexpenses

Higher taxpayments

Difference innon-cash OPEX

Various Free cash flowH1 2015

Free cash flow increases as underlying profitability and working capital improve

FCF margin 11.3%

FCF margin 10.5%

In CHF million

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Chart shows the cash-relevant developments in H1 2015 in relation to the same period in 2014 1 Year-on-year change mainly due to provisions in connection with the adapted go-to-market approach in China 13

1

14

Revenue growth across all regions, led by the Americas

9.2% organic

Revenue development (in CHF million, rounded)

2014 2015

Change in l.c.

(5.2%) 10.5% 14.3%4.1% 22.2%7.2%

359.1

(18.6)24.6

365.1

7.6

10.1

11.04.7

398.5

Revenue H12014

FX Effect AcquisitionEffect

Adj. revenueH1 2014

EMEA NorthAmerica

APAC LATAM Revenue H12015

11.0% in CHF

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Sustained pick-up in EMEA; strong growthcontinues in North America

56%

Organic growth accelerates to 8%

Strong performers: Spain, France, UK, Sweden and Germany

Sequential improvement in distributor business

Russian subsidiary operational by end of 2015

8.3%

0.3%

7.0%

2.4%

(2.0%)

5.5%

Q2 2015Q1 2015Q4 2014Q3 2014Q2 2014Q1 2014

EM

EA

No

rth

Am

eric

a Strong demand for Straumann implants driven by Bone Level Tapered implant rollout

ProArchTM edentulous solution launched

Regenerative portfolio strengthened

Revenue change (organic)

27%

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9.3% 11.6%

9.3% 11.4%

5.4% 5.2%

Q2 2015Q1 2015Q4 2014Q3 2014Q2 2014Q1 2014

48%

Double-digit growth in LATAM and Asia

56%

Q2 sales expectedly softer after dealer stocking effect in Q1 in China

Robust growth in Japan and China

Roxolid and BLT both receive regulatory clearances in Japan in July

12.8%

34.5%

14.5%17.0%15.3%

8.3%

Q2 2015Q1 2015Q4 2014Q3 2014Q2 2014Q1 2014

Asi

aP

acif

icL

ATA

M 15.6%11.7%

36.7%

7.3%

30.6%

15.0%

Q2 2015Q1 2015Q4 2014Q3 2014Q2 2014Q1 2014

Double-digit growth continues in Mexico and Brazil

Neodent with double-digit growth in H1; Q2 lift from additional selling days in Brazil

Neodent launched in Mexico; subsidiaries to open in Columbia (Q3) and Argentina (Q4)

15%

10%

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Revenue change (organic)

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Implants

Double-digit volume growth in implants and strong demand for new regenerative products

Restorative Regenerative

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Update on strategic progressMarco Gadola, CEO

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Driving a high performance culture and organization

Targeting unexploited growth markets & segments

Becoming a total solution provider for tooth replacement

Our key strategic priorities

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1

2

3

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Program to instill culture and mindset change well underway throughout the organization

We want to be the first place that people come to do business, to find reliable solutions, to turn ideas into reality, to learn, master, succeed and to change lives.

Key success factors and core behaviors identified to increase agility, strengthen commercial mindset etc.

Creating a high-performance culture and organization

Refreshingour cultureRefreshingour culture

1

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Our core behaviours

Core behaviours to help us achieve our keysuccess factors

Key success factors

challenge the status quo

engage in difficult conversations

take responsibility

think commercially

learn constantly

have courage to drive change and shape our future

being passionate about what we do

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1

Investing in emerging markets

ChinaNew set-up 95% complete

LATAMSubsidiaries to open in Colombia (Q3) andArgentina (Q4)

RussiaSubsidiary to open in Q4

ThailandNew distribution agreement; dedicated salesforce

2

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Inner Mongolia

Shanghai

Ningxia

Guangxi

Heilongjiang

Xinjiang

Gansu

Qinghai

Tibet

Sichuan

Yunnan

Guizhou

HunanJiangxi

Hubei

Henan

Jilin

Liaoning

HebeiTianjin

ShandongShanxi

Shaanxi

Chongqing

Jiangsu

Anhui

Zhejiang

Fujian

Guangdong

Hainan

Beijing

New distribution model to unlock China;20 distributors appointed nationwide

Q4‐14

Q1‐15

Q2‐15

Q3‐15

2

Consultativesales force

Marketing, training & education

Market expected to almost triple to a level of >CHF 700m by 2020

In 2014, ~600k implants were placed in China (compared with ~2.3m in Brazil)

Straumann and its distribution partner sold >100k implants in 2014

No local Chinese players with significant share

Straumann China

Completion of newroute‐to‐market

Public clinics

Private clinics

Network ofindependentdistributors

Network ofindependentdistributors

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Using Straumann’s global presence & know-howto expand Neodent’s international footprint

Exisiting or planned availablity of Neodent products in 2015 through:

Neodent’s homemarket

Instradent subsidiaries

Distribution partners

2

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New-generation BLT: good primary stability, fast secondary stability (SLActive), high strength (Roxolid)

Enables Straumann to compete in largest implant segment (>60% of implants are tapered/conical)

Full market releases in N. America (Q1) and Europe (Q2/3) 2015

Already accounts for 9% of Straumann’s implant volumes but still to be launched in Asia Pacific and Latin America

Approvals just received in Brazil, and Japan together with Roxolid

New Bone Level Tapered implant: a significant growth opportunity

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CMR = controlled market release to collect feedback from experienced usersFMR = full market release, available to all customers.

Bone Level Tapered implant roll-out plan

2014 2015 2016 2017

Q3 Q4 Q1 Q2 Q3 Q4 Q1-Q4 Q1-Q4

EMEA

- Germany, Austria & Switzerland CMR FMR

- Europe (outside DACH) CMR FMR

- Distributors CMR FMR

North Amer ica CMR FMR

Asia Paci f ic

- Japan1 CMR FMR

- China1 CMR

- Distributors FMR3

Lat in America 1 CMR FMR

1 Depending on regulatory clearance in respective region/country 2 Roxolid not yet available 3 Not in all distributor markets yet

3

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Multiple new products and solutionsintroduced in H1

1 The bridge / over-denture structure is bonded to the Variobridge solution

Straumann Variobase® extensions incl. multi-unit restorations: screw/cement-retained1 bridges & over-dentures

Straumann® pre-milled abutment blanks

Straumann® Pro Arch solution

Bridge and bar solutions through Straumann CARES® X-Stream™

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Arlington (USA) facility expanded and fittedwith state-of-the-art automation to cater forProArch growth

New milling center in Tokyo to becomeoperational in Q4

Brazil CADCAM milling service for Straumann and Neodent customers operational

CADCAM milling service expanded3

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Premium ValueCommon technology andmanufacturing platform

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Further investments and partnerships toexpand value and technology platforms

Brazil (100%) Germany (51%)

Taiwan(conv. bond)

S. Korea(conv. bond)

Spain (30%)

Canada (55%)

Germany

Germany (100%)

Taiwan (49%)

USA (12%)

Switzerland (44%)

Austria

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Option for a stepped increase to full ownership by 2020

Founding shareholders remain with company and retain control

Leadership in digital solutions and exciting launch pipeline support our strategy to be a total solution provider.

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Securing access to leading-edge technology by increasing Dental Wings stake to 55%

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To complement its central milling and Scan&Shape services, Straumann aims to enter selected chairside & in-lab CADCAM markets through partnerships with Dental Wings (intra-oral and desk-top scanners) and Amann Girrbach (milling machines)

Sights set on chairside and in-lab CADCAM markets

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In-lab Chairside

Lab System

Desktop scanner CARES Visual Motion 2 milling

maching

Intra-oral scanner (stand-alone)

Intra-oral scanner CARES Visual

Chairside system

Intra-oral scanner CARES Visual Chairside milling

machine

Practice lab system

Intra-oral scanner CARES Visual Motion 2 milling

machine

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…supported with a broad range of materials3

StraumannCo-branded with Amman Girrbach

3rd party

n!ce

Pre-milled abutment blanks

Cobalt-chrome

Zirconia

Vita

Ivoclar

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Emdogain celebrates 20th anniversary

Further indications in development

Oral wound healing (H1 2016)

Flapless treatment in periodontitis (H2 2016)

See the video @www.youtube.com/watch?v=yje0q-esud0

Outlook 2015

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Straumann expects the global implant market to continue growing in 2015

Group expects full-year revenue to grow organically in the mid- to higher-single-digit range

Assuming that the currency exchange rates remain more or less at their H1 levels, the Group aims to achieve an EBIT margin in the low twenties, before business combination exceptionals1

Guidance 2015Barring unforeseen circumstances

351 Fair value adjustments to Neodent’s acquisition-related inventory of CHF 13m

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Questions & Answers

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Calendar of upcoming events

2015

20 August  H1 2015 results conference Basel HQ

01 September Investor meetings Boston

02 September Investor meetings New York

03 September Investor meetings Montreal / Toronto

09 September Investor meetings Zurich & St.Gallen

14 September Investor meetings Vienna

15 September Investor meetings Frankfurt

23 September Investor meetings Copenhagen

24 September Investor meetings Stockholm

29 October Q3 sales publication Webcast

17 November Investor meetings Edinburgh

18 November Investor meetings London

3737 Results publication and corporate events. More information on straumann.com → Events

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Straumann’s currency exposure

Cost breakdown H1 20151

Revenue breakdown H1 2015

1 These distribution charts represent the total net revenues and the total COGS as well as OPEX in the various currencies. All numbers are rounded and based on H1 2015 figures and include Neodent since 1 March.

Average exchange rates (rounded) FX sensitivity (+/- 10%) on...

2014 H1 2015 Revenue EBIT

1 EURCHF 1.21 1.07 +/- 13 million +/- 8 million

1 USDCHF 0.92 0.95 +/- 10 million +/- 3 million

1 BRLCHF 0.39 0.32 +/- 4 million +/- 1 million

100 JPYCHF 0.86 0.79 +/- 2 million +/- 1 million

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70

80

90

100

110

120

2014 2015

Development of Straumann’s main exchange rates since 2014

USDCHF EURCHF JPYCHF BRLCHF

CHF10%

EUR34%

USD/CAD/AUD28%

BRL9%

Other19%

CHF43%

EUR17%

USD/CAD/AUD22%

BRL8%

Other8%

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Foreseeable FX impact has abated and counter-measures are on track

In CHF m (rounded)

FX spot rates16 Jan

Ø FX ratesJanuary‐June 2015

Revenue (75) (39)

EBIT (40) (24)

EURCHF 1.02 1.07

USDCHF 0.87 0.95

YTD development of Straumann’s maincurrencies

Theoretical FX impact on revenue and EBIT

Source: Thomson Reuters, company estimates

0.7

0.9

1.1

1.3

01.01.2015 01.03.2015 01.05.2015 01.07.2015

USDCHF EURCHF

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The BLT with the SLActive surface combines the best of both worlds

Chart for illustrative purposes only

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Your contacts

Fabian Hildbrand

Corporate Investor Relations

Tel. +41 (0)61 965 13 27

Email investor.relations@straumann.com

Mark Hill Thomas Konrad

Corporate Communications

Tel. +41 (0)61 965 13 21 Tel. +41 (0)61 965 15 46

Email mark.hill@straumann.com Email thomas.konrad@straumann.com

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International Headquarters

Institut Straumann AGPeter Merian-Weg 12CH-4002 Basel, SwitzerlandPhone +41(0)61 965 11 11Fax +41(0)61 965 10 01www.straumann.com