Lübeck, August 2, 2012

Conference callHalf-yearly financial report

January 1 to June 30, 2012

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Interim financial reports as well as preliminaries are not audited.

Disclaimer

This presentation contains forward-looking statements regarding the future development of the Dräger Group. These forward-looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to it to date, and have been made to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors; they entail risks and uncertainties beyond our control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume no obligation to update the forward-looking statements contained in this presentation.

This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any securities. No money, securities or other consideration is being solicited by this presentation.

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Content

1. Financials

3. Outlook

4. Appendix

4 | 22

Financials

5 | 22

€ million

Change

€ million€ million

Q2 2011

€ million

Change

% %

Q2 2012 6M 2011 6M 2012

Business development

+28.0133.5104.3

53.1

93.7

8.7 %

50.1 %

12.0

30.2 %

47.0

8.6 %

50.2 %

588.4

543.4

27.7

-0.894.5

9.1 %23.4

30.6 %

26.6

33.2 %

+3.8 1,072.71,033.3

+2.71,139.31,109.1

51.9

9.7 %14.4

32.0 %

533.1

555.5

-9.5

+1.9

5.9

49.7 %49.1 %

-1.153.730.4 -9.1

1

1

1

1

-16.4 -12.0

1 Currency adjusted: Q2 2012: order intake +2.5 %, net sales -1.8 %6M 2012: order intake +0.1 %, net sales +0.8 %

DVA

Earnings

EBIT

EBIT marginIncome taxes

Tax rate

Net sales

Order intake

Gross margin

after income taxes

6 | 22

Germany

Rest of Europe

AmericasAsia/Pacific

Other

vs. PY1 vs. PY1€ million€ million

Germany

Rest of Europe

AmericasAsia/Pacific

Other

Order intakesix months 2012

Net sales six months 2012

1 Currency adjusted 1 Currency adjusted

Regional split of order intake and net sales

8%20%

18%

35%19%

8%20%

18%

35%19%

231.2

402.1

218.1201.0

86.9

+1.5 %

-2.9 %

-7.1 %+10.8 %

+8.8 %

1,139.3 +0.1 %

213.6

375.4

208.2191.8

83.7

-1.0 %

+0.6 %

-8.5 %+7.8 %

+20.4 %

1,072.7 +0.8 %

7 | 22

+16.6133.6114.6DVA

Orders on hand 369.7

32.2

9.2 %

38.8

€ million

Change6M 2012

-13.760.3

8.8 %

69.9

10.5 %

EBIT

EBIT margin

-10.073.381.4EBITDA

+3.4 685.7663.0Net sales

+3.1735.7713.9Order intake

€ million€ million

39.3

11.5 %

45.3

341.4

356.7

348.0

387.1

€ million

Change

-18.5

-14.5

+1.9

+8.5

% %

1

1

6M 2011Q2 2012Q2 2011

1 Currency adjusted: Q2 2012: order intake +5.1 %, net sales -1.9 % 6M 2012: order intake +0.5 %, orders on hand +10.5 %, net sales +0.4 %

1

1

+14.3323.4 1

Business developmentMedical division

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DVA

Orders on hand

€ million

Change6M 2012

EBIT

EBIT margin

EBITDA

Net sales

Order intake

€ million€ million € million

Change

% %

6M 2011Q2 2012Q2 2011

Business developmentSafety division

+8.164.259.4

156.7

24.8

12.2 %

30.9

+14.052.3

13.0 %

45.8

11.9 %

+15.464.255.6

+4.5 402.4385.2

+2.3419.5410.2

24.2

12.2 %

29.2

199.2

206.2

202.9

209.6

+2.5

+6.1

+1.8

+1.6 1

1

-3.5162.4 1

1 Currency adjusted: Q2 2012: order intake -1.7 %, net sales -1.6 % 6M 2012: order intake -0.5 %, orders on hand -6.6 %, net sales +1.7 %

1

1

9 | 229 | 22

Cash flow statement

6M 20126M 2011

-140

-120

-100

-80

-60

-40

-20

0

20

40

60

Operating activities

Investing activities

Financing activities

Change in cash1

1 Without effects of exchange rates on cash and cash equivalents

-129.0

-69.7

-108.9

-54.2

-28.7-30.2

14.7

48.7

€ million

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Key figures

1 Values at due date2 EBITDA and accordingly EBIT of the last twelve months

€ million

Change6M 20126M 2011

Net working capital1

Investments

Cash and cash equivalents1

Cash flow from operating activities

%€ million

Net financial debt1

Net financial debt1/EBITDA2

33.0

+2.7398.5

+1.6917.8

23.2 %

+2.733.9

+27.1 307.9

+231.348.7

388.2

903.3

20.4 %

242.3

14.7

-6.8143.5

0.5

153.9

0.6

Capital employed1

EBIT2/Capital Employed (ROCE)

11 | 22

Functional expenses

€ million

ChangeQ2 2012Q2 2011

%€ million € million

Change6M 20126M 2011

%€ million

+22.647.6

8.8 %

38.8

7.3 %

+6.0147.9

27.2 %

139.5

26.2 %

+3.733.6

6.2 %

32.4

6.1 %

+22.793.8

8.7 %

76.5

7.4 %

+5.3289.5

27.0 %

274.8

26.6 %

-1.564.0

6.0 %

64.9

6.3 %

Marketing and selling expenses

in % of net sales

Research and development costs

in % of net sales

General administrative expenses

in % of net sales

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Outlook

13 | 22

Net sales

EBIT margin

+13.9 %(currency adjusted

+9.5 %)

8.9 %

2010 2011 Mid-term

Growing faster than relevant

markets

At least10 % target

margin

Order intake+8.5 %

(currency adjusted +4.1 %)

2012

At least world economic

growth1

At least world economic

growth1

EBIT margin between 8.0 %

and 9.5 %2

Outlook and mid-term perspective

1 IMF forecast (July 2012) +3.5 %2 Higher expenses for planned investments into research and development and the improvement of the worldwide IT infrastructure

+3.6 %(currency adjusted

+4.4 %)

9.5 %

+6.9 %(currency adjusted

+7.6 %)

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Appendix

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Appendix

1. Executive Board

2. Financial calendar

3. Contact

16 | 22

Stefan DrägerCEO

Dr. Herbert FehreckeCTO

Gert-Hartwig Lescow CFO

Toni Schrofner COO

Executive Board

Executive Board of Drägerwerk Verwaltungs AG

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15.02.2012 - Preliminaries 2011

14.03.2012 - Accounts press conference, Hamburg - Analysts meeting, Frankfurt

03.05.2012 - Report for the first three months 2012 - Conference call, Lübeck

04.05.2012 - Annual shareholders' meeting, Lübeck

02.08.2012 - Report for the first six months 2012 - Conference call, Lübeck

01.11.2012 - Report for the first nine months 2012 - Conference call, Lübeck

Financial calendar

18 | 22

Melanie Kamann Thomas FischlerCorporate Communications Investor Relations

Drägerwerk AG & Co. KGaA Drägerwerk AG & Co. KGaA

Moislinger Allee 53−55 Moislinger Allee 53−5523558 Lübeck, Germany 23558 Lübeck, Germany

Tel +49 451 882-3998 Tel +49 451 882-2685 Fax +49 451 882-3944 Fax +49 451 882-3296

Mobile +49 170 8558152 Mobile +49 151 12245295

melanie.kamann@draeger.com thomas.fischler@draeger.comwww.draeger.com www.draeger.com

Contact