April 26, 2016 / Marijn Dekkers, CEO

Q1 2016 ResultsInvestor Conference Call

Disclaimer

This presentation may contain forward-looking statements based on currentassumptions and forecasts made by Bayer management.

Various known and unknown risks, uncertainties and other factors could lead tomaterial differences between the actual future results, financial situation,development or performance of the company and the estimates given here.These factors include those discussed in Bayer’s public reports which areavailable on the Bayer website at http://www.bayer.com.

The company assumes no liability whatsoever to update these forward-lookingstatements or to conform them to future events or developments.

• Q1 2016 Investor Conference Call • Marijn Dekkers Page 2

Page 3

Q1 2016 – Highlights

Off to a successful start in 2016

Pharmaceuticals with significant sales growth

Earnings growth in all business segments

New approvals for Kovaltry and Xofigo

Patent term for rivaroxaban extended in US

Stake in Covestro reduced from 69% to about 64%

Outlook for 2016 confirmed

• Q1 2015 Investor Conference Call • Marijn Dekkers

Page 4

+20%

2,3351,944

+3%

11,94111,879

+16%

3,4042,941

+14%

2.372.08

Q1’16Q1’15 Q1’16Q1’15 Q1’16Q1’15 Q1’16Q1’15

Q1 2016 – Off to a Successful Start in 2016

• Q1 2016 Investor Conference Call • Marijn Dekkers

EBITin € million

EBITDAbefore special itemsin € million

Core EPScont. operationsin €

Salesin € million% currency & portfolio adj.

2015 figures restated

Q1 2016 –Cash Flow And Net Debt Development

• Q1 2016 Investor Conference Call • Marijn Dekkers Page 5

-€1.1bn

21.3

Dec. 31, 2015 March 31, 2016

17.4

Cash Flow in € million, ∆% yoy Fx adj.

Net Debtin € billion

16.3

*including net cash flow from discontinued operations of €819 million

GCF oFCF*

2,576

CapEx

363 959

∆y-o-y +28% +580

NCF*

1,322

+83% +5%

2015 figures restated

Q1 2016 – Launch Products Continued to Drive Performance at Pharma

Page 6 • Q1 2016 Investor Conference Call • Marijn Dekkers

Q1‘16 sales, ∆% yoy, Fx adj.

€617m +31%

€372m +49%

€67m -5%

€75m +37%

€56m +48%

Sum €1,187m +35%

Launch ProductsSalesin € million; ∆% yoy, Fx & portfolio adj.

EBITDA

3,5623,889 +12% 1,085

1,261

Q1‘15

+16%

Q1‘16Q1‘15Q1‘16

before special items, in € million; ∆% yoy

2015 figures restated

€253m* +4%

€187m -7%

€92m +10%

€64m +21%

Sum €596m +3%

Q1 2016 - Consumer Health with Positive Development

• Q1 2016 Investor Conference Call • Marijn Dekkers Page 7*incl. Aspirin Cardio

Salesin € million; ∆% yoy, Fx & portfolio adj.

1,556 1,520 +2%

369

383 +4%

Q1‘15 Q1‘16 Q1‘16Q1‘15

Q1‘16 sales, ∆% yoy, Fx adj. Key Products EBITDA

before special items, in € million; ∆% yoy

2015 figures restated

+6%

Q1'15 Q1'16

Q1 2016 - Crop Science Steady in Weak Environment

Page 8 • Q1 2016 Investor Conference Call • Marijn Dekkers

Europe €1,348m +1%

North America €952m +4%

Asia / Pacific €342m -3%

LatAm / Africa / Middle East €381m +1%

Environm.Science

Seeds

SeedGrowth

Fungicides

Insecticides

Herbicides 845

204

284

827

226

637

+3%

+12%

+5%

+3%

-12%

-4%

3,023

1,0401,106

Q1‘15 Q1‘16

906

203

335

830

221

597

3,092 +1%

Salesin € million; ∆% yoy, Fx & portfolio adj. ∆% yoy, Fx adj.

Regions EBITDAbefore special items, in € million; ∆% yoy

Q1‘16Q1‘15

€148m +3%

€54m +91%

€32m +7%

€28m -3%

Sum €262m +14%

Q1 2016 - Animal Health with SignificantSales and Earnings Growth

• Q1 2016 Investor Conference Call • Marijn Dekkers Page 9

Salesin € million; ∆% yoy, Fx & portfolio adj.

386 408 +9%

Q1‘15 Q1‘16

102

122 +20%

Q1‘16 sales, ∆% yoy, Fx adj. Key Products EBITDA

before special items, in € million; ∆% yoy

Q1‘16Q1‘15

FY 2016 Guidance Confirmed

Page 10 Outlook depends on specific planning assumptions as detailed in the Annual Report• Q1 2016 Investor Conference Call • Marijn Dekkers Assuming end Q1 2016 Fx rates (USD 1.14)

Life Sciences Group

SalesMid-single-digit %

increase~€35bn

Low-single-digit % increase>€47bn

Adj. EBITDA Mid-single-digit % increase

Mid-single-digit % increase

Core EPS(cont. operations)

Mid-single-digit % increase

Sales ∆ yoy Fx and portfolio adj., EBITDA before special items

April 26, 2016 / Marijn Dekkers, CEO

Q1 2016 ResultsInvestor Conference Call