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1

2014 Full-year resultsConference presentation for investors, analysts & mediaBasel, 27 February 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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3

Rejoined Straumann on 1 December 2014

Oerlikon Drive Systems (4 years): CFO

Straumann (6 years): Business Development, Head Group Controlling

Geistlich Biomaterials (2 years): DirectorOrthopedic Marketing & Sales

McKinsey (2 years): Consultant

Education: PhD in Biochemistry and Molecular Biology; Business Administration studies

Dr Peter Hackel, Straumann’s new CFO

Full-year highlightsMarco Gadola, CEO

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Strong growth and strategic expansion

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REVENUE BEST PERFORMERS GROWTH STRATEGY

CHF

710m APAC & RoWGeographic & segment expansion

FY: +6%1

Q4: +9%114% growth1 in both regions New hybrid approach to dynamic

Chinese market; further investment in Instradent (value) platform

EMERGING MARKETS MULTI-BRAND PLATFORM CURRENCY IMPACT

16% of Group

Portfolioexpanded

Mitigating actions

China & Brazil fuel mid-teen growth in EMs, which now contribute 16% of Group revenue (14% in 2013)

New products/solutions (botiss, BLT, Pro Arch etc.); Investments in MegaGen, T-Plus, Rodo Medical

Cost-savings & other initiatives to reduce impact of strong CHF, without impairing ability to grow business

1 Organic growth – i.e. excluding the effects of acquisitions, divestitures and currency exchange rates

Rightsizing and re-organisation

measures

* Straumann, Nobel Biocare, Zimmer Dental, Biomet 3i, Dentsply Implants - based on company and SEC reports as well as management comments.

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Outpacing the market for 7 consecutive quarters

1 Straumann, Nobel Biocare, Zimmer Dental, Biomet 3i, Dentsply Implants, based on company and SEC reports, as well as management comments. 6

Q4: revenue of CHF 187m (+9% organic)

-15%

-10%

-5%

0%

5%

10%

15%

Market for tooth replacement & restoration (leading companies) Straumann1

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7

Profitable growth

Organic revenue growth1

Adj. gross margin 1

(in %)Adj. EBIT margin1

(in %)Adj. EPS1,2

(in CHF)

667.4

710.3

2013 2014

78.5 78.7

2013 2014

+6.4%

17.6

20.9

2013 2014

+20bps

1 Excl. currency exchange rate effects and restructuring costs in 20132 Excl. one-time benefit from capitalization of deferred tax assets in 2014 amounting to CHF 27m related to Neodent

7.00

8.40

2013 2014

+330bps +20%

2008 2012 2013 2014

Significant impact from currency exchange ratesOperating profit margin

15-20%

9.2%

10-15%

17.0%

20.9%

27.4%

Straumann Dental peers benchmark1

1 Average operating income margin for the following companies: Dentsply, Patterson, Henry Schein, Osstem, Sirona, and Nobel Biocare ( 2014 9M)

10%

15%

20%

25%

8

10-15%10-15%

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Business and regional reviewPeter Hackel, CFO

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Significant profitability improvements

in CHF million FY 2014Reported Reported excl. FX

excl. FX and exceptionals

Reportedexcl. FX and exceptionals

Revenue 710.3 679.9 667.4 667.4

Organic growth% 6.4%

Gross profit 558.7 535.9 524.0 524.0 6.6%

margin 78.7% 78.8% 78.5% 78.5% ( 20 bps) 20 bps

EBITDA 176.2 148.4 142.0 149.9 17.5%

margin 24.8% 21.8% 21.3% 22.5% 300 bps 230 bps

EBIT 148.3 115.8 109.6 117.5 26.2%

margin 20.9% 17.0% 16.4% 17.6% 390 bps 330 bps

Net profit 157.8 101.2

margin 22.2% 14.9%

Basic EPS 10.15 6.55

Adjusted EPS 8.40 7.00

Free cash flow 128.4 139.2

margin 18.1% 20.5%

Change (rounded)FY 2013

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78.8%

(0.3%)

78.5%

0.9%0.3% (1.0%)

78.7%

Gross profitmargin

FX effect Adj. gross profitmargin

Price / volume /mix

Inventorychange

COGS (highervolumes)

Gross profitmargin

In % of revenue, rounded

Higher implant sales offset FX and mix effects

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1 Change in finished and semi-finished goods in 2014 compared with prior year

1

20142013

+20 bps

EBIT margin above 20%

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+330 bps

20142013

1 Exceptional costs of CHF 8 million related to cost optimization measures in 2013.

In % of revenue, rounded

1

17.0%

(0.6%) 1.2%

17.6%

0.2%

3.2% (0.1%)

20.9%

Reported EBITmargin

FX effect Restructuringcosts

Adjusted EBITmargin

Gross margineffect

Lower OPEXintensity

Other income Reported EBITmargin

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139.2

27.8 (16.1)

(5.5)(2.1) (2.1) (7.6)

(5.2)

128.4

Free cashflow 2013

EBITDAimprovment

Higher networkingcapital

HigherCAPEX

investments

Higherinterest

payments

Higher taxpayments

Difference innon-cash

OPEX

Various Free cashflow 2014

Strong cash generation constrained by working capital increase

FCF margin 18.1%

FCF margin 20.5%

In CHF million

13Chart shows cash-relevant changes Jan-Dec 2014 compared with the same period 2013 1 Mainly changes in share-based payments and provisions

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1

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All regions drive growth

6.4% in l.c.

Revenue development (in CHF million, rounded)

4.5% in CHF

2013 2014

Change in l.c.

(1.9%) 7.8% 14.2%3.2% 14.0%

679.9

(12.5)

667.4

11.6

14.0

13.14.2

710.3

Revenue FY2013

FX Effect Revenue FY2013 @ FX 2014

Europe North America APAC ROW Revenue FY2014

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Strong finish in Europe; share gains in N. America

56%

Europe grew 8% in Q4 amid tough competition

Best quarterly growth rate since 2008, contributing almost half of overall growth in Q4

Strong performers: UK, Spain and the Nordic countries; Germany solid

7.6%

2.7%

(1.5%)

4.1%

(1.4%)(3.4%)

Q4 2014Q3 2014Q2 2014Q1 2014Q4 2013Q3 2013

Eu

rop

eN

ort

h A

mer

ica N. America posts strong Q4 on top

of high base line

High demand for Roxolid and SLActive implant lines

New Bone Level Tapered implant well received in controlled release

Revenue change (organic)

27%

15

9.3% 11.4%

5.4% 5.2%

11.0% 9.1%

Q4 2014Q3 2014Q2 2014Q1 2014Q4 2013Q3 2013

53%

Boost from China and Japan

56%

China delivers strong increase; good progress in establishing new hybrid sales model

Strong growth in Japan, region’s largest market

Straumann outperforms Japanesemarket, driven by SLActive launches

14.5%17.0%15.3%

8.3%

16.3%

7.9%

Q4 2014Q3 2014Q2 2014Q1 2014Q4 2013Q3 2013

Asi

aP

acif

icR

est

of

Wo

rld

18.2%

3.0%9.0%

28.6%

1.8%

35.1%

Q4 2014Q3 2014Q2 2014Q1 2014Q4 2013Q3 2013

Back to double-digit growth in Q4, driven by strong demand for implants in most markets

Good performances in Brazil, Mexico and Middle East

Neodent posts high single-digit growth in 2014

15%

5%

16

Revenue change (organic)

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Implants

Double-digit growth in implant volumes drivesrevenue increase

Restorative Regeneratives

1717

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Foreseeable impact of currency rates on 2015 results

In CHF m (rounded) FX rates 16 Jan

Ø FX ratesafter 16 January

Revenue (75) (55)

EBIT (40) (31)

EURCHF 1.02 1.05

USDCHF 0.87 0.920.2

0.4

0.6

0.8

1

1.2

01.01 16.01 31.01 15.02

EURCHF USDCHF BRLCHF JPYCHF

Development of Straumann’s main currencyexchange rates YTD 2015

Theoretical FX impact on 2014 revenue and EBIT

Source: Thomson Reuters

Ø 16 January – 27 February

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Short-term measures expected to deliver >CHF 20 million:

Compensation reductions for Directors and all employees in CH; 96% of staff in agreement

Hiring and replacement only to fill business-critical positions

Tighter cost control (e.g. travel), additional efficiency measures

Re-negotiation of supplier contracts

Mid-term:

Further optimization of cost base; improve order-to-cash process

Improve natural hedge – balance manufacturing capacity, production expansion outside CH, supplier contracts not in CHF, ensure suppliers pass on FX benefits

o Long-term growth opportunities not compromised

o ‘Swiss label’ comes at a price but adds value to premium brand

Mitigating the impact of the strong Swiss franc

Update on our strategic progressMarco Gadola, CEO

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Mastering challenges and turning them intoopportunities

CHF Strong Swiss franc

Limitations of our current culture

GP Increasing number of GPs placing implants

BRIC Future growth markets are outside Western Europe

Increase in discounters claiming compatibility

Growing segment of corporate clinics / dental chains

Advanced innovation cycle

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In 2014, we started a ‘cultural journey’ to promote and foster: delegation, empowerment, responsibility, risk-taking, challenging and creative thought, which are predominant behavioral styles in high-performance organizations.

Our journey to create a high-performance culture

Straumann’s current culture Our ideal

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Straumann USA lacks presence in GP segment

1 Straumann dentists survey of 120 GPs performed by Exevia, Fall 2014 2 iData, MRG and Straumann estimates

0%

10%

20%

30%

Estimated share of US GP market based on survey data1

Estimated overall implant market share (units) 2

Estimated US dental implant market share by customer segment

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More effective approach to fast-growing segment of surgically active GPs

JADA study points to lower implant success rates in general practices1

Straumann takes responsible approach together with Patterson Dental and Spear Education

Straumann Smart One package designed to help GPs perform straightforward indications

SMART One exclusively available through Patterson in US, with Spear’s interdisciplinary curriculum

Collaboration to address GP segment and to enhance the standard of care

Straumann SMART One

1 Da Silva JD et al, JADA 2014;145(7):704-713

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GP

Product manufacture, coordination

Targeting and  customer leads

Education

Mentoring, coaching

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Interdisciplinary relationship between specialists, GPs and labs

Experienced surgeon

Value and technology platforms expand

Brazil(49%)

Germany(51%)

Taiwan(Convertible)

S. Korea(Convertible)

Common platform of technology & Production

Spain(30%)

Canada(44%)

Germany(Option 30%)

Germany (100%)

Premium Value

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US (13%)

Taiwan(43% in 2015)

Implants CADCAM/prosthetics Regeneratives

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The latest addition to our Instradent platform

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A leading local dental implant company in Taiwan

Instradent to acquire approximately 43% of T-Plus in March/April 2015; option to increase to 90% by 2020

T-Plus has the products, regulatory clearance and customer proximity to penetrate the fast-growing value segment in China

Injection of capital will accelerate T-Plus’ growth strategy and international expansion plans

Deal subject to approval by Taiwan Investment Commission

Investments targeted at markets with high growth potential

North AmericaMarketing & sales expanded; CADCAM site in Arlington upgradedand expanded

BrazilStraumann’s sales

power increased

ChinaOwn organization built up; Distributor activities taken over; Leadership in premium segment; Preparing entry into value segment

JapanBuilding CADCAM

production

LATAMInitiative underway to gaindirect access to key S. American markets withStraumann & Instradent

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0%

20%

40%

60%

80%

no teeth lost 1-14 15-27 lost all teeth

US Brazil Germany

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1 Source: Straumann proprietary study based on >11000 respondents in the US/BR/DE conducted by AFG Research in 2012

Today patients expect:

fixed, reliable, natural-looking, long-lasting replacements

minimal discomfort

shorter (immediate) treatments

affordability

more than a smile, a changed life

Patient expectations have changed – especially for multi-teeth interventions

Incidence of tooth loss among middle-aged and elderly population1

>1/4 HAVE LOST HALF THEIR

NATURAL TEETH

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ClearChoice is the leader in full-arch restorations and does more implant procedures than any other US network

Straumann enters dental chain segment

Straumann & Instradent to serve ClearChoice as a preferred partner, starting Q1 2015

>90% of centers technically equipped; most switching expected by end of Q1

CADCAM production in Arlington expanding to meet ClearChoice requirements

38 million adults in the US estimated to need one or two full dentures by 20201

Preferred partner of leading US network in full-arch replacement

ClearChoice centers in the US

1 Douglass CW, Shih A, Ostry L. Will there be a need for complete dentures in the United States in 2020? J Prosthet Dent. 2002 Jan;87(1):5-8

Straumann Pro Arch solution

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Addressing a significantly larger market through partnership and licenses

34%

17%

8%

38%4%

Membrane

Xenograft

Tissue regeneration

Allograft Synthetic

US regeneratives market by category (market estimated at USD 260m in 20141)

1 Source: Millennium Research Group 2014 31

>2014>2015/16

Straumann Membrane C+

Straumann Xenograft

Straumann Emdogain

Straumann Allograft

Straumann Bone Ceramic

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Controlled release underway since September 2014; products well received

Full launch in Europe and N. America expected Q2/Q3 2015

BLT opens door for Straumann to compete head to head in the largest implant segment (>60% of all implants are tapered/conical)

Good primary stability combined with rapid secondary stability (SLActive) and Roxolid strength make this a new-generation BLT

BLT an important element in securing agreement with ClearChoice

New BLT implant – a significant growth opportunity in 2015

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Outlook 2015

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Confirmation that we are working on the right things

Drive Straumann high performanceculture & organization

Target unexploited growth markets & segments

Become total solution providerfor tooth replacement

Our strategic priorities:

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Further improvement in global implant market expected

Revenue expected to grow organically in mid-single-digit range

Further investments in strategic growth markets and projects

Cost reduction measures including compensation reductions in CH, strict hiring and travel restrictions

2015 EBIT margin target >20% (organic), assuming exchange rates remain more or less at recent levels1

Guidance 2015Barring unforeseen circumstances

351 Average spot rates since 16 January: Euro=CHF 1.05 ; USD=CHF 0.92

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Straumann will consolidate Neodent fully as of 1 March 2015, irrespective of whether and when it might exercise its step-up option

Consolidation will trigger ordinary fair-value adjustments:

Formal purchase price allocation (PPA) process to be conducted

One-time effects: revaluation of initial 49% book value; inventory step-up to fair value; FX losses on current equity position through P&L

Recurring effects: Annual amortization charge to be communicated once PPA process is complete

Decision regarding option to increase ownership is still outstanding

Effects of Neodent consolidation

Option to increase to 75%

Option to increaseto 100%

03.2015 08.2016 02.2018 11.2019

IFRS consolidation

Initial stake49%

05.2012

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Questions & Answers

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2014 Annual report now available online

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Get an update on our latest innovations

If you would like to join us for this event, please write us an email at investor.relations@straumann.com

Cologne, 10‐14 March

SEE YOU SOON IN

COLOGNE!

Hotel Dorint

Calendar of upcoming events

2015

27 February Full‐year 2014 results Basel HQ

05 March Investor meetings London

06 March Investor meetings Paris

12 March Investor breakfast  IDS, Cologne

17 March Investor meetings Toronto

18 March Investor meetings Chicago

19 March Investor meetings New York

27 March Kepler Cheuvreux Swiss Seminar Zurich

10 April Annual General Meeting 2014 Basel Congress Center

14 April Dividend Ex‐date (16th payment date)

17 April Investor meetings Madrid

23 October  First‐quarter results  Webcast

15‐16 March Investor meetings London

4040

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

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41

Straumann’s currency exposure

Cost breakdown 20131

Revenue breakdown 2013

1 These distribution charts represent the total net revenues and the total COGS as well as OPEX expenses in the various currencies. All numbers are rounded and based on 2014 figures.

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

2014 2013 Revenue EBIT

EURCHF 1.21 1.23 +/- 27 million +/- 17 million

USDCHF 0.92 0.92 +/- 17 million +/- 7 million

JPYCHF 0.86 0.95 +/- 4 million +/- 3 million

BRLCHF 0.39 0.43 +/- 2 million +/- 1 million

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EUR 39%

CHF 11%

USD / CAD / AUD 29%

Other 21%

EUR 20%

CHF 45%

USD / CAD /

AUD 22%

Other 13%

60

80

100

120

2013 2014 2015

Development of Straumann’s main exchange rates since 2013

USDCHF EURCHF JPYCHF BRLCHF

Results from our Q4 buy- andsell-side survey

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Perception survey last December: Respondents...

40%

25%

30%

5% Fund Manager

Buy-side analyst

Sell-side analyst

Equity sales

23%

5%2%

9%54%

5% 2%

UK

US

Scandinavia

France

Switzerland

Germany

Other

...by job ...by country

Gizmo survey with a sample size of 59 respondents out of approx. 220 questionnaires (26% response rate)43

Shareholding and recommendation levels

Buy‐side Sell‐side

44

32%

16%8%

43%

We were invested inthe past, but not now(valuation)

We were invested inthe past, but not now(fundamental industryconcerns)

We never ownedSTMN shares

We are shareholders

50%

20%

5%

25%

I am neutral onthe stock / don'trecommend it tomy clients

I am negative onthe stockconsidering thecurrent sharepriceI am negative onthe stock due tofundamentalindustry concerns

I recommend myclients to be longin the stock

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Why are you a shareholder / not invested at the moment (Top 4 responses ranked by order)

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Why are you a shareholder? Why are you not invested?

Likely outperform its peers and can leverage its fixed cost base (100%)

Industry growth does not match valuation

Find management convincing Increasing marketing efforts needed to maintain growth

I think the entry into value segment will stimulate cashflows

Industry has low entry barriers

Advantage of dedicated implant player in a consolidating industry

I think the entry into the value segment will dilute reported margins

Data based on buy-side sample only, i.e. 65% of the respondents

Medium-term growth of the modern tooth replacementmarket1

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Question: What do you reckon will the entire global tooth replacement market p.a. grow in the coming 3 years(implant, abutments and CADACAM combined; in value terms)?1 Market includes total business, i.e. implant, abutments and CADCAM abutments and SRBBs. .

By value (in % of respondents) By volume (in % of respondents)

0

16

63

19

2

0

Double-digits

7-9%

4-6%

1-3%

Flattish

Decreasing

2

32

60

7

0

0

Double-digits

7-9%

4-6%

1-3%

Flattish

Decreasing

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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