Creating opportunities for customers and shareholders

Berenberg Equities Conference, Pennyhill, 05 December 2018

DisclaimerThis presentation contains certain forward-looking statements that reflect the current views ofmanagement. Such statements are subject to known and unknown risks, uncertainties and otherfactors that may cause actual results, performance or achievements of the Straumann Group todiffer materially from those expressed or implied in this presentation. The Group is providing theinformation in this presentation as of this date and does not undertake any obligation to updateany statements contained in it as a result of new information, future events or otherwise.

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

2

Straumann Group:the pure play in dentistry

3

~5,700Employees

1954Founded

Domiciled in Switzerland

11bnMarket Cap

180,000Customers; active in >100 countries

62 Subsidiaries

~1.3bnAnnual revenue

Highly profitable: ROCE 2017 of 42%

4

DIGITALPRACTICE WORKFLOW

Bone Level Implants

Biomaterial Bonering

Mini Implants

Soft Tissue Implants

Retention Systems

Clear Aligners

Crowns

Ceramic Implants

Regenerative BiomaterialsProsthetics

CAD/CAM planning components

CAD / CAM Screw-retained

Bridges and Bars

Bone Level Tapered Implants

Data Acquisition Planning Surgery Impression Design Production Post Processing Final Restoration

PRODUCTPORTFOLIOHIGHLIGHTS

OUR SOLUTIONS

Production facilities spread around the globe

5

Montreal (CA)Digital headquarters,

software and hardware

Andover (USA)Implants and prosthetics

Villeret (CH)Implants and

prosthetics

Curitiba (BR)Headquarters, implants and

prosthetics, CAD/CAM milling

Arlington (USA)CAD/CAM milling

Renningen (D)Prosthetics and implants

Narita/Chiba (JP)CAD/CAM milling

Shenzhen (CN)CAD/CAM milling

Mumbai (IN)Implant system components

Markkleeberg (D)CAD/CAM milling

Malmö (SE)Biomaterials

Round Rock (USA)Aligner headquarters

Basel (CH)Global headquarters

Global presence in over 100 countries.

Taipei (TW)Implants and

prosthetics

Looking back –Financial performance 9M 2018

6

Double-digit growth in all regions

7

2.934.1

48.9

44.3

43.2 14.3

801.3

Revenues 9M 2018

989.0

LATAMNorth America

EMEA

838.3

Revenues 9M 2017

@ FX 2018

APACM&A effectFX effectRevenues 9M 2017

23.4%CHF

18.0%organic

Revenue development (CHFm, rounded)

Change in organic growth

18.6% 18.1%13.0% 30.2% 32%

29%

29%

10% LATAM

APAC

NorthAmerica

EMEA

Regional share oforganic growth

Clear-aligner business growing fast Significant case growth in Q3 (+60%)

Customer base expands >10% in first 9M

Pilot programs completed in Europe – sales force built up with the aim to fully launch in 2019

ClearCorrect well received at Orto 2018 tradefair in Brazil; preparations underway for launchin early 2019

Production capacity expanded

ClearCorrect begins to promote clear alignerstogether with remote monitoring systemin North America

Q12017

Q2 Q3 Q4 Q12018

Q2 Q3

+60%case starts

8

Another encouraging quarter keeps us on track to deliver our full-year targets

9 1 Organic growth – i.e. excluding the effects of currency fluctuations and acquired/divested business activities 2 Outlook expectations barring unforeseen events/circumstances

CHF 989mUp 23% from 9M 2017

FX effect neutralAcquisition effect: 5%-points

REVENUE

Innovations PURE 2-piece ceramic implant;

New mini implant systemBLX next-generation fully-tapered

implant

FUTURE GROWTH

+18% organic1

over 9M & in Q3

GROWTH

Foothold in 3rd-tierControl of T-Plus strengthens foothold in

non-premium segment in Taiwan and China

EXPANSION

APAC & NAMgenerate 58% of Group 9M growth;

APAC growing fastest (+33%)

TOP PERFORMERS

RaisedFull-year organic revenue growth in

the high-teen percentage range; outlook otherwise unchanged

OUTLOOK2

19.3%

23.0%24.8%

27.6%28.3%29.3%29.8%

15.0%

17.0%

19.0%

21.0%

23.0%

25.0%

27.0%

29.0%

31.0%

0

100

200

300

400

2012 2013 2014 2015 2016 2017 H12018

ExceptionalsEBITDA excl. exceptionalsUnderlying margin

-1.0% 1.2%

6.4%9.1%

13.1%15.7%

18.0%

2012 2013 2014 2015 2016 2017 9M2018

Track record to deliver profitable growthOrganic revenue growth Underlying EBITDA1 in CHF

million and marginA v e r a g e + 9 % + 1 0 . 5 % - p o i n t s + 11 . 0 % - p o i n t s

Underlying Net Profit2 in CHF million and margin

10

10.6%

15.9%18.4% 18.1%

20.4% 21.3% 21.6%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

0

100

200

300

400

2012 2013 2014 2015 2016 2017 H12018

Success factors for growth

11

We have broadened our portfolio and deepened our customer interactions

12

Manufacturer Distribution/subsidiaries Dental professional(our clients)

Patient pool(our client’s client)

Focus on implant specialists

R&D team +140% Active in non-premium Complete CAD/CAM offering Entry into clear aligners

Institut Straumann

2012

GPs expanding into specialty procedures

>2x our sales force Dedicated DSO team

Expanding into esthetic dentistry

Exploring entry into preventive dentistry

Today

>95% of our business is conducted directly

Nearly tripled our subsidiaries Capture growth opportunities in

underpenetrated markets

63

23

Patients with missing teeth

636363

Reputation as innovation leader underpinned

13

12

19

Roxolid implant material

13

14

PURE ceramic 1-piece implantVariobase abutments

BLT implant15

16 ProArch edentulous solution

N!ce fully-crystallized glass-ceramic Grand Morse

Grand Morse implant

Grand Morse

Mini implantPURE 2-piece ceramic implant

17

18

BLX implant

Small diameter implant ( 2.9mm)

Short implant (4mm)

Roxolid-on-all

Targeted investments in high growth markets

14

Implant volumes in key markets (millionunits in 2017)

1.5 1.2 1.3

2.4 0.8

1.4 2.7

0.2 0.4

1.4 0.3

SPAINITALY

GERMANYBRAZIL

TURKEYRUSSIA

USAUK-IRELAND

JAPANCHINA / HONG KONG

INDIA

319197

160118

98160

7438

3310

2

Premium

Non-Premium

Our new subsidiaries

Penetration: Implants per 10’000 inhabitants

Straumann Group regional revenue split 2011 and 9M 2018

16

More diversified and less dependent on mature markets in Europe

Europe 55%North America 22%

APAC 15%

LATAM 5% Easter EU & MEA3%

2011

Europe36%

North America 29%

APAC19%

LATAM 9%

Easter EU & MEA7%

2018

Key market trends

17

Improved materials andproduction methods

High growth marketsoutside Europe

Patients want aestheticallypleasing, affordable solutions

and shorter treatments

Consolidation ofmanufacturers

Better informed and demanding patients

Digitization of workflows

Customer base alters

1

2

3

4

5

67

Industry trends reflected in our strategic priorities

18

DRIVE OUR HIGH PERFORMANCE CULTURE

TARGET UNEXPLOITED MARKETS AND SEGMENTS

BECOME A TOTAL SOLUTION PROVIDER IN ESTHETIC DENTISTRY

3 strategic priorities broken down into 55 Must-win initiatives (MWI) 55

19 Implant dentistry market segment comprises regular implant fixtures (excl. mini, zirconia and zygomatica implants), abutments and related instruments (excl. healing caps, temps and copings; information based on DRG 2016 and Straumann estimates. All Straumann Group brands considered.

Market volume(Implant fixtures)

Straumann Group share

Market value(implant & abutments)

25 million units

CHF 3.9bn

Tapered and non-premium segments represent large potential for future share gains

Premium

Non-Premium

Parallel walled

Apically tapered

Fully tapered

Main players:Nobel Biocare, BioHorizons, MIS, Implant

Direct, Megagen

Neodent, Anthogyr and

Equinox

Neodent, Anthogyr and

Equinox

Straumann Straumann Straumann Straumann StraumannNeodent Neodent Neodent Neodent

Our present implant portfolio

Parallel-walled Parallel-walled Apically tapered Fully tapered Fully tapered Parallel-walledTissue Level Bone Level Bone Level Bone level / external Bone level / internal Tissue Level / ceramic

DesignSurfacetreatment

Material

Latest addition to our portfolio

21

BLX PURE 2-piece ceramic Mini implant

First Straumann fully tapered implant

Designed for optimum primary stability in all bone classes

Unique design combined with Roxolid and SLActive

2nd generation ceramic implant increases prosthetic flexibility

Designed for optimum esthetics

First manufacturer to offer Lifetime Plus Guarantee for a ceramic implants

2.4mm diameter, apically tapered for high primary stability

Cost-effective, minimally invasive solution for edentulous patients with reduced bone

1.6m >1mFuture trend

Addressable market

Straumann ‘BLX’ key benefits

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• Perfected for immediacy; broadrange of indications

• Business opportunities: chair-time efficiency; attract more patients

• ‘Cut, Collect, Condense’ - high bone-to-implant contact

• Designed for optimalprimary stability in all bone types

• One connection

• Slim & under-contoured prosthetics

• Easy soft-tissue conditioning

• Trusted premium Swiss brand

• Roxolid® enabling3.75mm diameter for broad range ofindications

Premium

Non-premium Neodent home

market

Medentika home market

Equinox home market

Premium

Non-premium

Non-premium

Premium

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Premium

Non-Premium

Non-premium offering (current)

Future non-premium markets (2018/19)

Unroll the non-premium business worldwide

Zinedent home market

Premium

Non-premium

Premium

Non-Premium

Source: Straumann proprietary GP survey in US, DE, IT, and UK; samples size >200 dentists.24

Digital penetration still in the early innings% of GPs using intra-oral scanners (IOS), LHS% of dentists using IOS AND chairside milling equipment, RHS

12%

24%

11%

9%

Germany

US

Italy

UK

11%

13%

4%

5%

Germany

US

Italy

UK

Final productsProductionDesignScanning

Today our digital offer supports all customer groups and needs

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Dental office

Dental laboratory

Central milling

Straumann® CARES® Scan & Shape

More than an implant manufacturer

26

Total solution provider tooth replacement

Total solution provider esthetic dentistry

‘12

‘16

‘18

Implant provider

Competitive landscape

27

>4 bn

24%

#1

~26-28 bn

4%

#7

Implant dentistry1

Total dentistry

Market

Straumann position

Straumann share

2017

Leading playersHenry Schein

Dentsply SironaDanaher

STMN GroupDanaher

Dentsply Sirona

Others (400+)24%

19%

14%8%

7%

6%

22%

Danaher

DentsplySirona

Zimmer Biomet

Henry Schein

Osstem

Straumann Group

1 Implant dentistry market segment includes implant fixtures, abutments and related instruments (excl. auxiliaries, temps and copings); information based on DRG and Straumann Market Model

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Broader portfolio helps to address needs of GPs

Source: Straumann proprietary GP survey in US, DE, IT, and UK; samples size >200 dentists.

% of patients treated by GP per month by indication

Up to 5%

3-10%

1-5%

5-8%

7-12%

10-20%

40-50%

Tooth whitening

Orthodontics

Implant surgery

Implant restoration

Crowns/Inlays

Periodontitis

Caries

Desire for esthetics increasing – periodontal disease increasing due to aging population

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Disease & esthetic driven scope expansion

Natural tooth

Implant loss

Prevention of oral disease & tooth loss Prevention of implant loss

Healthypre-disease

Mild - moderate disease

Severedisease

Healthypre-disease

Mild - moderatedisease

Severedisease

Piloting

Dig

ital s

olut

ions

Impl

ants

& p

rost

hetic

s

Biom

ater

ials

Piloting

Disease driven Esthetically driven

Implant tooth

Tooth replacement

Toothloss

Tooth health (caries, periodontitis)

Tooth-borne prosthetics

Orthodontics

Tooth whitening

Implant health & peri-implantitis

Pilot initiated for GP portfolio additions incl. Preventive

30

GP pilot sales forceGP portfolio additions

Oct 2018

31

Prevalence: 75% of the population have misaligned teeth

25%

15%

15%

45%

No treatment required1

Prevalence of malocclusion & crooked teeth, by severity grade1

Mild to severe; may require some orthodontic correction

Purely esthetic needs

Orthodontic treatment required

1 Source: William Blair and National health & Nutrition Examination Survey (NHANES III) 1 Source: Company information, AAO, Straumann estimates

Primary focus on mild-to-moderate

malocclusion

Teenager

Adults

Global orthodontic market, by age group2

Global clear aligner market, by age group2

UPPER AND MIDDLE CLASS

PREVALANCE OF MISALIGNED TEETH

ORTHODONTIC CASES P.A.

TREATABLE W ITH ALIGNERS

CASES

NAM EMEA LATAM APAC

Clear Aligners is an underpenetrated segment and a key growth driver for us

32 Source: World Statistics; Global Industry Analysts Inc. 2016; company fillings as well as broker research reports: Robert W. Baird 2015, William Blair 2017, Stifel 2017, Leerink 2017.

60% eligible

1’350

11 6.6 1.8

1’800

People / eligible patients in million (2017)

15-17% treated

Intra-oral scanning and AI are an integral component of the solution

33

Data capturing Treatment planning

Current state shared with dentist Match data with planning data Move to the next aligner or call patient in, respectively

Measuring the progress remotely

Tailor made products/solutions for each customer groupSolution/customer matrix

Surgeon Perio Ortho GP surgical

GP non-surgical

Lab DSO

Implant surgical X X X X

Implant prosthetics X X X X

Digital workflow X X X X X X X

Ortho X X X X

Toothborne / C&B X X X X

Periodontitis X X X X X

Peri-implantitis X X X X X

Caries X X X

Tooth whitening X X X

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Looking ahead

36

Main growth drivers for the coming years

Market growth traditional business

Market share gains (innovation, sales excellence)

Expansion into esthetic dentistry

Address unexploited markets and segments

Preventive dentistry

Growth potential

Scope expansion

Implantology

CAD/CAM

Biomaterials

Clear Aligners

Preventive

Preventive dentistry could add up to CHF 2bn to Group’s addressable

market

Graphic for illustrative purposes only

Growth potential in all segments

37

Market segments Est. segment size(in CHF bn) Growth rate Our current

market share

Biomaterials 0.6 High-single digits

Implantology2 4.3 Mid-single digits

CAD/CAM equipment 1.5 Double digits

CAD/CAM prosthetics 3.7-3.9 Double digits

(All ceramic)

Clear aligners 2.0 >25%

1 Based on number of market players, market concentration as well as technical as and commercial entry barriers.2 Overview based on E2018 figures. Implant and standard abutments business also includes copings, closure screw and auxiliaries.

2018 outlook raisedBarring unforeseen circumstances

Market

Our revenue growth

Profitability1

Global implant market expected to grow 4-5%

Further improvement in EBITDA margin; EBIT margin stable

Full-year organic revenue growth in the high-teen percentage range

38 1 Excluding exceptional effects from BatiGroup acquisition

Questions & answers &

12th edition of ‘Analyst Talk’ feat. BNP Exane Paribas

From left to right: Marco Gadola, Straumann Group CEO, Julien Dormois, senior analyst at Exane BNP Paribas

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2018/19 Event Location

05 December Berenberg Equities Conference Pennyhill (UK)

13 December Corporate Governance meetings Paris

10-11 January Baader Helvea Swiss Equities Conference Bad Ragaz (CH)

19 February Full-year results conference Basel HQ

05 April 2019 AGM Messe Basel

09 April Dividend ex-date

Social media Type Source

Analyst Talk (Shift + left mouse) Executive interviewed by analysts straumann.com (Investors) / youtube.com

StraumannIR (Shift + left mouse) Investor Relations Twitter @StraumannIR

Calendar of upcoming events

41

Growth strategy pays off

42

in CHF m 2013 2014 2015 2016 2017 9M 2018 5-year average

Revenue 679.9 710.3 798.6 917.5 1'112.1 989.0

Organic revenue growth in % 1.2 6.4 9.1 13.1 15.7 18.0 12.5

Acquisiton / Divesture effect in % -0.8 0.0 9.5 0.8 4.1 5.0 3.9

Change in l.c.% 0.4 6.4 18.6 13.9 19.8 23.0 16.3

FX effect in % -1.3 -1.9 -6.1 1.0 1.4 0.4 -1.0

Growth in CHF % -0.9 4.5 12.4 14.9 21.2 23.4 15.3

2013 2014 2015 2016 2017 H1 2018 CAGR 2013-17

Gross profit excl. exceptionals 535.9 558.7 628.0 718.5 842.4 521.7 12.0

Underlying margin 78.8% 78.7% 78.6% 78.3% 75.8% 52.8%

EBITDA excl. exceptionals 156.4 176.2 220.7 259.2 325.5 203.1

Underlying margin 23.0% 24.8% 27.6% 28.3% 29.3% 20.5%

EBIT excl. exceptionals 123.8 148.3 185.7 227.2 285.6 178.6 23.2

Underlying margin 18.2% 20.9% 23.3% 24.8% 25.7% 18.1%

Underlying net profit 107.9 130.9 144.7 186.8 237.2 139.8 21.8

Underlying margin 15.9% 18.4% 18.1% 20.4% 21.3% 14.1%

Earnings per share (adjusted) 6.98 8.42 9.19 11.94 15.13 8.63 21.3

2013 2014 2015 2016 2017 H1 2018 CAGR 2013-17

Operating cash flow 151.5 146.2 185.6 184.7 217.3 106.7 9.4

Capital expenditure (12.6) (18.8) (35.2) (46.7) (73.4) (44.4)

as % of revenue -1.9% -2.6% -4.4% -5.1% -6.6% -4.5%

Free cash flow 139.2 128.4 151.1 138.7 144.7 62.3 1.0

Number of employees (year-end)1 2'217 2'387 3'471 3'797 4'881 5'474 21.8

1 In March 2015, Straumann acquired the remaining 51% stake of Neodent (Brazil), which added 930 employees to the Group. In 2017, the incorporation of Equinox, Medentika, Dental Wings, ClearCorrect added 479 employees, while the remainder came through internal expansion, mainly in Brazil, Switzerland and the US, largely in production.

CHF27%

EUR23%USD/CAD/AUD

26%

JPY3%

BRL10%

Other11%

CHF9%

EUR31%

USD/CAD/AUD30%

JPY6%

BRL10%

Other14%

Straumann’s currency exposure

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 2017 figures as well as average FX rates in 2017. They also include Medentika, which was consolidated on 1 January 2017.

Cost breakdown FY20171

Revenue breakdown FY20171Average exchange rates (rounded) FX sensitivity

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

2017 H1 2018 9M 2018 Revenue EBIT

1 EURCHF 1.09 1.17 1.16 +/- 35m +/- 21m

1 USDCHF 0.99 0.97 0.97 +/- 29m +/- 14m

100 BRLCHF 28.37 28.15 27.11 +/- 11m +/- 3m

100 JPYCHF 0.90 0.88 0.88 +/- 6m +/- 4m

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Thank youInvestor.relations@Straumann.com