Fresenius Medical Care (FME) investor relations material

Opening remarks and agenda

• The meeting was opened by the Chairman, welcoming shareholders, board members, and online participants, and outlining the agenda and formalities for the AGM proceedings.

• Organizational details, voting procedures, and the structure of the meeting were explained, including the use of proxies and the process for submitting motions and requests to speak.

• The agenda and amended resolution proposals were made available online and at the venue, with no countermotions or election nominations received prior to the meeting.

Financial performance review

• Achieved strong financial results in 2025, with organic revenue growth of 8% at constant currency and operating income before special items up 27%, reaching the upper end of guidance.

• Operating margin improved to 11.3%, up from 7.9% three years prior, reflecting efficiency gains and positive regulatory effects.

• Net leverage ratio reduced to 2.5x by end of 2025, demonstrating financial discipline and resilience.

• FME25+ program exceeded original savings targets, achieving EUR 804 million in savings by end of 2025, with a goal of EUR 1.2 billion by 2027.

Board and executive committee updates

• Joseph Turk and Charles Hugh-Jones joined the Management Board as CEO for Care Enablement and Global Chief Medical Officer, respectively, effective January 1, 2026.

• Martin Fischer was reappointed as CFO and Management Board member for a five-year term until 2031.

• The board expressed gratitude to outgoing members and highlighted the strategic alignment of new appointments.