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Becoming a ‘Total Solution Provider’ for tooth replacement

Marco Gadola, CEOpresenting at the Vontobel Summer Conference

Interlaken 7‐8 June 2016

Not allowed for further use without permission

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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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Fund manager snapshot

Enterprise value: 6.0bn

Net debt (-cash) : (117m)

EBITDA: 221m (28% of sales)

Normalized tax rate: 15%

CAPEX: 35m (4% of sales)

FCF: 151m (19% of sales)

NWC: 63m (8% of sales)

Dividend pay-out / ratio1: 4 francs per share or 43%

Daily on-exchange trading volume/ turnover: 34K / CHF11m (180d VWAV)

All figures in CHF and adjusted for business combination exceptionals (Neodent) as per 31 December 2015 115’790’772 shares are outstanding and the 2’691 treasury shares are not entitled to receive a dividend

Relative share price development 3 and 5 yearsFigures in Swiss francs

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Today’s agenda

Financial performance1

Update on our strategic progress2

Questions & Answers33 Questions & Answers

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5 Organic growth – i.e. excluding the effects of acquisitions, divestitures and currency exchange rates . Main competitors incl. Nobel Biocare, Zimmer Dental, Biomet 3i, Dentsply Implants based on company and SEC reports, as well as management comments

Financial performance last 5 years

17.3%14.9%

18.2%20.9%

23.3%

0%

10%

20%

30%

0

50

100

150

200

2011 2012 2013 2014 2015

Operating profit

Operating income ExceptionalsUnderlying EBIT margin

3.2%

‐1.0%

1.2%

6.4%

9.1%

2011 2012 2013 2014 2015

Organic growth vs. main peers

Straumann Main competitors

in CHF million 2011 2012 2013 2014 2015 5‐year average

Revenue 693.6 686.4 679.9 710.3 798.6

growth in %

Organic revenue growth 4.1 ‐1.0 1.2 6.4 9.1 4.0

Acquisiton / Divesture 0.0 ‐0.6 ‐0.8 0.0 9.5 1.6

Total l.c. growth 4.1 ‐1.6 0.4 6.4 18.6 5.6

FX effect ‐10.1 0.5 ‐1.3 ‐1.9 ‐6.1 ‐3.8

Total revenue growth (in CHF) ‐6.0 ‐1.1 ‐0.9 4.5 12.4 1.8

in C

HF

m

2.50

3.00

3.75 3.75 3.75

1.90 2.20

3.75 3.75 3.754.00

1.85 1.55

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

in C

HF

per

sha

re

Dividends paid from reserved capital contributions

Cash dividend

Based on the results and positive developments in 2015, we increased the ordinary dividend by CHF 0.25 (to CHF 4.00) per share

Despite challenging conditions and market contraction, Straumann has maintained its dividend at CHF 3.75 per share since 2008

-10

-5

0

5

10

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Cha

nge

in G

DP

yoy

(%)

US Italy Germany

Increased dividend to 4 Swiss francs

6 Source: Thomson Reuters Datastream

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Leading market position

Source: market research data & Straumann estimates

1 Includes implants, abutments, tools/instruments; 2 Market size at 2014 exchange rates = CHF 3.5bn

Global dental implant market in 2015 (worth CHF 3.2bn1)

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Strong momentum continues in Q1

North America28% of Group revenue

Organic growth rates in %

12.5

8.3

Q1 2016 FY 2015

13.3

11.0

Q1 2016 FY 2015

LATAM 8% of Group revenue

9.4

6.1

Q1 2016 FY 2015

EMEA 48% of Group revenue

21.0

19.4

Q1 2016 FY 2015

APAC16% of Group revenue

12.2

9.1

Q1 2016 FY 2015

Group

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Change in organic growth

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Largest growth contribution from EMEA – positive trend across the board

12.2% organic

Revenue development (in CHF million, rounded)

2015 2016

(0.2%) 12.5% 13.3%9.4% 21.0%3.0%

15.4% in CHF

Contribution to growth

EMEA

NorthAmerica

APAC

LATAM

193.2

(0.3) 5.7

198.6

9.26.9

6.2 2.1

223.0

Revenue Q12015

FX effect M&A effect Revenue Q12015 @ FX

2016

EMEA NorthAmerica

APAC LATAM Revenue Q12016

38%

28%

25%

8%

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We expect the global implant market to grow solidly in 2016

We are confident that we can continue to outperform by achieving organic growth in the high-single-digit range

Despite further investments into strategic growth initiatives, the expected revenue growth and operational leverage should lead to further improvements in the underlying operating profit margin (2015: 23.3%)

Tax rate ~15%; CAPEX ~ CHF 25m

Full-year guidance raisedBarring unforeseen circumstances

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Update on our strategic progress

Drive a high performance culture and organization

Target unexploited growth markets & segments

Become a total solution provider for tooth replacement

Update on our strategic priorities

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1

2

3

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Some large markets remain underpenetrated

US2 400

(75)

Estimated implants placed in 2015 (in thousand units) and per 10 000 inhabitants (small number in italic)

Brazil2 300 (114)

Japan430(34)

China980(7)

Russia650 (45)Germany

1 100 (136)

S.Korea2 200(412)

Italy1 200(196)

Argentina400(93) Underpenetrated Mature

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India220 (2)

We aim to expand our share in these high growth markets

1 Based on Straumann estimates

USNo. 2

Dental implant market position of the Straumann Group1

BrazilNo. 1

JapanNo. 2China

No. 1

RussiaNo. 8

GermanyNo. 1

S.KoreaNo. 7

ItalyNo. 2

ArgentinaNo. 7

Underpenetrated Mature

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Indiano presence

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Example of actions taken to unlock the inherent potential...

North America Strengthened education offering

for starters in implantology Instradent Canada launch

mid-year

Brazil Straumann & Neodent

integrated CADCAM service

ChinaEntry into value segment in H2 (Anthogyr)

JapanCADCAM service

LATAMHubs distributing

Straumann & Neodent established in Colombia,

Argentina and Mexico

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TurkeyJoint venture to supply value implant systems (Zinedent)

UKInstradent opened

RussiaNew subsidiary andprice structure

Common technology andmanufacturing platform

...and we are continuing to build our value platform

Brazil (100%) Germany (51%)

S. Korea(conv. bond)

Spain (30%)

Canada (55%)

Germany (Opt.)

Germany (100%)

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Taiwan (49%)

USA (13%)

Switzerland (44%)

AustriaTaiwan

(conv. bond)

France (30%) Turkey (JV 50%)

Surgery / implants

CADCAM / prosthetics

Biomaterials

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With Anthogyr we will enter the fast-growing value segment in China

Straumann acquired a 30% stake in French company

Anthogyr’s dental implant system is already established in China and positioned as a high-quality attractively-priced option

Transfer of Anthogyr’s implantology business activities in China to Straumann by mid-year

Potential to leverage business in other markets through Instradent

Approx. 15% of Anthogyr’s annual revenue of € 45m is in Asia

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Zinedent is our brand to penetrate the value segment in Turkey and the surrounding markets

Zinedent joint-venture with our distributor to

supply implants and prosthetics in Turkey

(450k implants p.a.) and surrounding markets

Potential of manufacturing implants locally

Benefit from customer proximity to penetrate the

large and fast-growing Turkish non-premium

segment (>350k implants p.a.)

Launch expected by mid-year

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We are already a global player in the attractive value implant market

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Neodent home market Existing value organizations & distributors

Expansion 2016Medentika home market

Drive a high performance culture and organization

Target unexploited growth markets & segments

Become a total solution provider for tooth replacement

Our strategic priorities

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2

3

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Potential identified to become the total solution provider for dentists and labs

Conventionally manufactured prosthetics on 

implants (crowns, bridges, bars)

Stock abutments

Customized abutments

CADCAM m

illing 

system

sScanners

Dental implants

DVT / 3D radiology

Surgical planning & drill guides

Global market size ~CHF 7bnShare of the Straumann Group

Bone & tissue 

regeneration

CADCAM manu‐‐factured prosthetics

Unparalleled range of proven biomaterials

Straumann botiss Geistlich

Bone allografts 1 Bone xenografts 1 Synthetic bone grafts Bone blocks Custom bone blocks Bone rings Collagen cones Fleeces & sponges Membranes 1 Soft-tissue grafts Emdogain

1 Sold under license in the US

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Dates indicate timing of full-market release in EMEA. Global market release depending on regulatory approval in the individual countries.

Implant type variations

Tissue Level Bone Level Bone Level Bone Level Tissue Levelparallel-walled parallel-walled apically tapered fully tapered Ceramic /Monotype

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Efficient treatmentprotocol

Esthetics

ProArch

1'060

0 200 400 600 800 1000 1200 1400 1600 1800

Fully tapered

Apically tapered

Parallel walled

Fully tapered

Apically tapered

Parallel walled

Tis

sue

Leve

lB

one

Leve

l

STMN share Potential to grow Lower priced tapered implants

Substantial growth potential in the tapered implant segment in 2015 and beyond

Combined implant market US & Germany (approx. 3.2m implants1)

1 Based on available data in October 2015, AFG & Straumann proprietary surveys and estimates 26

Bone Level

Tissue Level

Straumann share Potential to grow Lower price implants

In 1000 implants

2015

2007

1986

Date of launch

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Enlarging our restorative business – high quality multi-platform solutions

Straumann Neodent Medentika For 3rd party

Pre-fabricated

Standard & pre-shaped abutment Medentika

Titanium base abutment Medentika /

etkon i-dent

Pre-milledabutment Medentika /

etkon i-dent

Individualized

CADCAM individualized abutment

Medentika / etkon i-dent

‘Crown in a box’ Medentika / etkon i-dent

Implant system

Straumann enters chairside & in-lab CADCAM market through partnerships with Dental Wings (intra-oral and in-lab scanners) and Amann Girrbach (milling machines), complementing Straumann’s central milling and Scan&Shape services

Entry to chairside and in-lab CADCAM market

In-lab Chairside

Lab System

Desktop scanner CARES® Visual MSeries milling

machine

Intra-oral scanner (stand-alone)

Intra-oral scanner CARES® Visual

Practice lab system

Intra-oral scanner CARES® Visual MSeries milling

machine

Chairside system

Intra-oral scanner CARES® Visual CSeries milling

machine

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Intra-oral scanning allows convenient and reliable impression taking

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Conventional process:

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Next generation technology – developed by Dental Wings for Straumann

Small light handpiece

Real-time 3D scanning; open STL files

Patented and compact 3D capture technique (“Multiscan Imaging Gesture Control”)

Attractive price, no click fees

Distributed through Benco and Burkhart in the US, serving approx. 40K dentists and labs with broad sales and service network

New intra-oral scanning technology –scaled distribution in the US

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Equipment complemented by a large variety of dental materials

Proprietary Common brands Distributed

n!ce1

Pre-milled abutment blanks

Cobalt-Chrom

Zirconia

Vita® blocks

Ivoclar® blocks

321 New glass ceramic (lithium disilicate reinforced lithium aluminosilicate) with high flexural strength, short milling times and easy

finishing. It comes in two version, one ideal for the dental lab and the fully crysallized version convenient for chairside applications.

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Our future growth drivers in summary

Portfolio extension:

implant solutions with superior mechanical & esthetic properties;

less invasive procedures;

enter the chairside system & consumables market

advanced biomaterials

Further penetrate the global value segment

New customer segments (fast expansion of dental chains and networks; growing customer group of General dentists)

Targeted investments in underpenetrated markets

$

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Questions & answers

Calendar of upcoming events

2016

07/08 June Vontobel summer conference Interlaken

15 June Mainfrist healthcare tour Basel

04/05 July Investor meeting Toronto, Montreal

06 July Investor meetings New York

07 July Investor meetings Boston

23 August Half-year results publication Webcast

06 September Investor meetings London

07 September Goldman Sachs HC conference London

14 September BKB Investor Event Basel

27 October Q3 revenue publication Webcast

36 More information on straumann.com → Events

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CHF37%

EUR19%

USD/CAD/AUD24%

BRL11%

Other11%

CHF9%

EUR33%

USD/CAD/AUD29%

BRL10%

Other19%

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Straumann’s currency exposure

Cost breakdown FY20151

Revenue breakdown FY20151

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 FY 2015 figures and include Neodent since 1 March.

Average exchange rates (rounded)FX sensitivity

(+/- 10%) on full-year...

2014 2015 YTD 2016 Revenue EBIT

1 EURCHF 1.21 1.08 1.096 +/- 26m +/- 16m

1 USDCHF 0.92 0.96 0.99 +/- 20m +/- 7m

1 BRLCHF 0.389 0.295 0.255 +/- 8m +/- 2m

100 JPYCHF 0.86 0.80 0.86 +/- 5m +/- 3m

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50

70

90

110

130

2014 2015 2016

EURCHF BRLCHF USDCHF JPYCHF