Half-year 2008 Road Show

Half-year 2008 Road Show

Disclaimer This presentation contains certain forward-looking statements, which can be identified by use of terminology such as expect, expectation, intend, continue, achieve, maintain, improve, foresee, anticipate, product introductions, outlook, forecast, or similar wording. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, performance or achievements of the Group to differ materially from those expressed or implied herein. Should such risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation. Straumann is providing the information in this presentation as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise. 2

Agenda First-half 2008 highlights Business performance Initiatives to leverage and sustain current growth Outlook Questions & answers 3

Straumann sets the pace as first-half net revenue climbs 22% (l.c.) Strong second quarter (+29% l.c.) lifts first-half net revenue to CHF 413 million (+22% in l.c.; +17% in CHF) Gross and EBITDA margins expand as efficiency gains more than compensate for new lower-margin products and unfavorable currency impact Net profit surpasses CHF 100 million to new record level New generation Straumann Bone Level prosthetic range expanded and well received More than 200 new jobs created as Straumann strengthens marketing and sales and other global functions to drive sustainable future growth Straumann on track to meet full-year guidance 4

Business performance

Accelerated organic growth lifts revenue 22% (l.c.) H1 2008 net revenue growth in % Total Group: CHF 413 million Organic growth 2 by quarter in % (l.c.) + 4.5% - 5.3% 20% 20% 18% + 0.4% 16% 21.9% 11% 10% 14% 13% 12% 12% 10% 12% 13% 13% 17.4% 16.6% 17.0% Growth CHF Currency effect Growth l.c. Acquisition effect Growth including WL (1) Biora WL effect Organic growth excluding WL Q1 2007 Q2 Q3 Q4 Q1 2008 Q2 Organic Organic (excluding Biora US) Organic (adjusted for seasonal factors) 1 WL = FDA Warning Letter effect (US import detention on Biora products) 2 Organic growth excl. FX effects and incl. incremental revenue growth of an acquired business upon consolidation 3 Acquisition effect comprises 6 months of Asian and Czech distributors and 2 months of etkon revenues. 6

Consistent strong performances in North America and Europe Regional growth in % Total Group: 22% (l.c.), 17% (CHF) Net revenue by region in % Total Group: CHF 413 million 62% 61% 20% 23% 23% 12% 3% 18% 18% 16% Europe CHF 270m 19% North America CHF 79m 66% Asia/Pacific CHF 51m 3% RoW CHF 13m Europe North America Asia / Pacific RoW CHF l.c. excl. Biora US 1 l.c. 1 No Biora (regenerative) sales in US since early 2007 7

European subsidiaries outperform Market share strengthened as all key countries grow double digit Acquisition of remaining etkon franchise partner (Iberia) completed Bone Level product line launched in all key countries Highly successful ITI meeting in Germany (in CHF million) Q2 07 Q2 08 CHF % H1 07 H1 08 CHF % Net revenue 119.9 138.5 +16% 233.1 270.1 +16% Growth in % l.c. +21% +18% +15% +18% 8

North America sustains momentum Further acceleration in underlying business despite downturn in the US economy Bone Level Implant and SLActive drive growth as price premium is maintained Continuing weakness of the US dollar constrains Swiss franc growth Import detention on Biora products lifted (in CHF million) Q2 07 Q2 08 CHF % H1 07 H1 08 CHF % Net revenue 38.9 40.3 +4% 76.8 79.3 +3% Growth in % l.c. +6% +20% +7% +18% Growth in % l.c. excl. Biora effect +20% +20% 9

Asia/Pacific boosted by newly acquired subsidiaries Asian growth lifted by acquired businesses Local management in Japan and South Korea strengthened; upgrade of systems & processes ongoing Continued strong growth in the rest of the world supported by distributor countries, especially China (in CHF million) Q2 07 Q2 08 HY 07 HY 08 APAC net revenue 9.2 27.3 31.6 50.9 Growth in % CHF. -16% +197% +5% +61% ROW net revenue 5.0 6.2 10.2 12.5 Growth in % CHF +40% +24% +56% +23% 10

Efficiency gains drive gross and EBITDA margins CHF million H1 2007 H1 2008 Net revenue growth in % CHF growth in % l.c. 351.7 15.2 13.1 412.8 17.4 21.9 Cost of goods sold 62.9 73.6 in % of net revenue 17.9 17.8 Gross profit 288.8 339.2 Gross margin in % 82.1 82.2 EBITDA EBITDA margin in % 126.6 36.0 150.4 36.4 EBITDA margin +40 bps EBIT 107.8 119.8 EBIT margin in % 30.7 29.0 Net profit 94.9 100.5 Net profit margin in % 27.0 24.3 Tax rate 15.5% 11

Gross profit margin of underlying business expanded by 100 basis points In % of net revenue - 0.3% + 1.0% - 0.6% COGS: CHF 62.9m 82.1% 81.8% 82.8% COGS: CHF 73.6m 82.2% Gross Profit H12007 (%) FX effect Gross Profit H12007 (%) at FX2008 Productivity improvement (underlying business) Underlying Gross Profit H12008 (%) Acquired businesses (mix effect) Gross Profit H12008 (%) 12

EBIT margin constrained by amortization of acquired intangibles and higher R&D investments In % of net revenue - 0.5% + 0.4% - 0.9% - 1.1% + 0.4% 30.7% 30.2% H1 2007 H1 2008 EBITDA margin 36.0% 36.4% 29.0% EBIT margin 30.7% 29.0% EBIT margin H12007 Currency effect EBIT margin H12007 at FX2008 Gross profit improvement Intangible amortization (1) Research & SG&A Development improvements (2) EBIT margin H12008 1 Amortization of intangible assets in connection with recent acquisitions 2 Including other income 13

Net profit margin squeezed by higher tax rate (reported) and unfavorable FX developments In CHF million + 50.4-31.3-6.9-0.3-0.9-5.4 Net profit +6% EBIT CHF +11.9m Finance and Taxes CHF -6.3m 94.9 100.5 Net profit margin 27.0% Net profit margin 24.3% Net profit H1 2007 Gross profit SG&A R&D costs Other income Financial result Taxes Net profit H1 2008 14

Initiatives to leverage and sustain current growth

Bone Level prosthetic portfolio expanded: maximum flexibility, minimum complexity Multibase abutment for bridges 140 new prosthetic components added Portfolio covers all indications and preferences but with fewer parts and instruments to maintain simplicity Launch coincides with timing of restoration of first wave of Bone Level Implants placed (time to restoration = longer than with tissue level) and bars 16

SLActive in a class of its own with more potential Removal torque Ncm/mm 2 1.2 1 0.8 0.6 0.4 0.2 0 SLActive Main competitor 10 10 days 3 weeks 6 weeks after implant placement Multicenter study 1-year results 1 show exceptional survival rates, despite >40% of implants being placed in poor quality bone immediate loading = 98% survival early loading = 97% survival bone gain seen with 16% of implants Head to head study 2 shows enhanced osseointegration and secondary stability compared with a main competitor Clinical confirmation of dramatic bone defect filling 3 Well on track to reach penetration target of 30% despite lack of availability in large Asian market 1 Ganeles J et al. Clin Oral Implants Res 2008; (in press) 2 Gottlow J. Preclinical study presented at Toronto Osseointegration Conference Revisited, 2008 3 Schwarz F et al. STARGET 2008; 2 12 17

State-of-the-art software extends etkon s competitive position etkon visual 4.3 with new functionality enters prelaunch testing Multiple features enhanced Tooth database enhances design process conventional Undercut feature sets new benchmark in bridge design flexibility Ongoing development with next software release planned for Q4 2008 etkon 5D 18

Regeneratives to benefit from US relaunch and additional application Import detention lifted; Straumann to relaunch regeneratives in US Membrane filed for regulatory clearance, EU, US European Federation of Periodontology Consensus Conference experts develop consensus on Emdogain in the treatment of gum recessions 1, adding to growing attention 2 Before After Treatment supported by Emdogain 1 6th European Workshop on Periodontology, Ittingen, Switzerland, 2008 2 Cheng S et al. J Periodontal Res. 2007; 42: 474 85 19

Innovation pipeline to complement ongoing roll-outs and extend the standard of patient care Early development High-strength implant material Advanced development First market introduction Surgical Instruments for guided surgery Tooth-colored implant material Prosthetics and CAD/CAM Customized prosthetic solutions etkon visual software New materials Bars and bridges Regenerative Membrane Bioactive materials 20

New high strength implant material with exciting profile First material designed specifically for implant dentistry Surface chemistry & structure + biocompatibility = enhanced osseointegration Remarkable early results point towards a new benchmark in terms of strength combined with osseointegration and safety 1 Pilot study running Multicenter study initiated in 8 centers with 88 patients On track for roll-out in 2009 1 J. Gottlow et al. Preclinical data presented at 23rd Annual meeting of the Academy of Osseointegration (AO), Boston USA 21

Production expansion to meet growing demand Implants Extension started in Villeret to increase capacity especially for SLActive production Capacity increased in Andover; further transfer of know-how, including surface treatment CAD/CAM European milling center extension underway in Leipzig North American center expanded 22

Building and developing our key asset High caliber professionals attracted from other industries to broaden skills and best-in-class practices New CFO & EVP Operations engaged Considerable investment in upgrading Quality Management 200 new jobs created worldwide in first six months First global employee survey benchmarked to high performance company index 23

Outlook

2008 guidance confirmed (barring unforeseen circumstances) On the basis of the underlying performance in the first half and the expected contributions from new products, technologies and subsidiaries, Straumann expects 2008 full-year revenue growth to be in the low to mid twenties range in local currencies. As efficiency improvements are expected to exceed the higher levels of amortization related to acquisitions, the Group foresees an improvement of around 50 basis points in full-year operating margin calculated with constant (2008) currency rates. Accounting for the normalized tax rate and the current strength of the Swiss franc, the net profit margin is expected to be around 22%. 25

Guidance for 2008 net revenue growth (l.c.) In CHF million + low to mid twenties (%) -38 Currency ØFX 2007 Expected Ø FX 2008 (April) Expected Ø FX 2008 (August) EUR-CHF 1.64 1.56 1.60 USD-CHF 1.20 1.00 1.03 714 665 676 JPY-CHF GBP-CHF 0.0102 2.40 0.0102 2.10 0.0099 2.05 Reported 2007 net revenue Currency impact April August 2007 net revenue at 2008 FXs Expected 2008 net revenue 26

Guidance for 2008 operating income margin In CHF million 20 approx. +50 basis points 28 EBIT margin 28.2% EBIT margin 26.9% 202 177 182 Reported 2007 EBIT Currency impact 2007 EBIT at FX2008 Expected 2008 EBIT 27

Guidance for 2008 net profit margin In CHF million -19-13 43 177 158 145 Net profit margin 24.8% Net profit margin 23.4% Net profit margin 21.5% Expected net profit margin around 22% Reported 2007 net profit Currency impact 2007 Net profit at FX 2008 Normalized tax-effect (1) 2007 Net profit adjusted Efficiency gains Expected 2008 net profit 1 One-time tax effect in 2007 (revaluation of deferred tax liabilities) 28

Questions & answers

Calendar of upcoming events 20 Aug 08 UBS Swiss Summit (Zurich) 02 Sep 08 Sal. Oppenheim European Healthcare Conf. (Frankfurt a.m.) 03 Sep 08 Goldman Sachs European Medtech Conf. (London) 30 Oct 08 Third-quarter and nine-month revenues 2008 12 Feb 09 Full-year results 2008 Detailed calendar on www.straumann.com 30

Your Investor contacts Head of Investor Relations Fabian Hildbrand Phone +41 (0)61 965 13 27 Mobile +41 (0)79 392 80 32 Email fabian.hildbrand@straumann.com Investor Relations Coordination Bettina Schiendorfer Phone +41 (0)61 965 16 35 Email bettina.schiendorfer@straumann.com 31

Appendix

Accelerated growth across all regions CHF million Q1 2007 Q2 2007 Q1 2008 Q2 2008 Europe 113.2 119.9 131.6 138.6 growth in % CHF 13.3 26.6 16.3 15.5 growth in % l.c. 9.7 20.9 17.0 18.2 North America 37.9 38.9 39.0 40.3 growth in % CHF 2.6 4.3 2.9 3.6 growth in % l.c. 8.8 5.8 15.6 19.8 growth in % l.c. excl. Biora 13.6 15.1 19.9 19.8 Asia / Pacific 22.4 9.2 23.6 27.2 growth in % CHF 17.3-15.8 5.7 196.7 Rest of the world 5.2 5.0 6.3 6.2 growth in % CHF 75.0 39.6 20.9 24.0 Group 178.7 173.0 200.5 212.3 growth in % CHF 12.5 18.1 12.2 22.7 growth in % l.c. 11.6 14.8 15.4 28.7 33

Straumann's business scope is focused on the fastest growing sectors in dentistry Market sector size* in CHF bn 10 8 6 Prosthetics Dental equipment 4 Endodontic 2 Infection control Orthodontic Preventive Restorative 0 Implant dentistry (incl. implants & abutments) Regenerative dentistry CAD/CAM dentistry 0% 5% 10% 15% 20% 25% Market CAGR 2007-10 * Bubble size indicates sector size in CHF bn for 2007 Source: Global Industry Analysts, 2006; Millennium Research Group (MRG) 2008, broker reports 34

Straumann is active in three highly attractive dental areas worth together CHF 5bn Implant dentistry market* 2007 100% = CHF 3.3bn CAD/CAM dentistry market* 2007 100% = CHF 1.1bn Regenerative dentistry market* 2007 100% = CHF 0.3bn Others 30% Straumann 17% Straumann <5% Straumann <10% Astra Tech 6% Dentsply 6% Zimmer 7% Biomet/3i 11% Nobel Biocare 23% * DE, IT, ES, FR, SE, UK, CH, US, CA, AU, JP, KR, BR, RU, IN, CN Source: MRG; idata, Straumann estimates 35

Markets characterized by low treatment rates Europe North America RoW* Population 380m 330m 410m Prevalence of tooth loss 45-50% 45-50% 60-65% Affected people 180m 155m 265m Annual treatment rate 10-12% 9-11% 6-8% People seeking treatment 20m 15m 21m Exclusion for medical/ other reasons 40-60% 40-60% 40-60% People eligible for impl. treatment 10m 8m 11m Implant treatment rate 12-14% 6-8% 5-7% People treated with implants 1.3m 0.5m 0.8m * Japan, South Korea, Taiwan, Australia and Brazil only Source: Straumann estimates, 2005 36

Our substitution technologies Treatment Manufacturing Materials Crowns and bridges Traditional manufacturing Metals Collagen membranes Dental implants CAD/CAM prosthetics Ceramics Hydrogel membranes 37

Key growth drivers Bone Level Implant Roll out progressing well Launch of second wave of prosthetics initiated Preclinical and clinical results SLActive On track to reach penetration target Impressive study findings etkon Roll out progressing well Agreement to acquire remaining franchise partner in Iberia 38

Straumann now offers implant solutions to ALL dentists for ALL indications Soft tissue level Bone level New The most successful single system Microgap vertically offset from bone, respecting biological width and preserving bone Preferred solution for one-stage procedures Pioneered by Straumann Most popular implant type globally (70% share in North America) Ease of use and Esthetics considered by many dentists as superior Smart Straumann design limits microgap risk ( platform switching ) 39

SLActive cuts healing time by half 1 SLActive SLA Strong hydrophilicity optimized blood-implant contact 2 1 Raghavendra, Wood, Taylor, 2005 and Oates et al., 2007 2 Zhao et al. 2005; Rupp et al. 2006 40

Efficiency gain - CAD/CAM prosthetics Tooth preparation (grinding) Impression Taking Restoration (attach Crown or bridge) Finishing (ceramic layer, coloring) @ Centralized production milling centre Make model Scan Model Design restoration Dentist Dental lab & etkon CAD/CAM center 41

Worldwide production locations Andover (US): Implant component production Malmö (S): Regenerative products e Leipzig (D): CAD/CAM milling Gräfelfing (D): CAD/CAM milling, scanner production Arlington (US): CAD/CAM milling Villeret (CH): Implant component production 42

Straumann offers a comprehensive portfolio Etkon CAD/CAM technology Bone Ceramic Emdogain Prosthetic System Implants SLActive surface 43

Straumann a true solution provider with a comprehensive product portfolio BU Surgical New BU Regenerative Scheduled Bone ceramic Membrane Emdogain BU Prosthetics BU Award winning scanners & software Precision production State of the art esthetics 44

All significant product needs covered Implants Bone level Tissue level 3rd generation surface Immediate placement Immediate loading Guided surgery Low cost ( ) x Regeneratives BoneCeramic Membrane Periodontal treatment BMPs ( ) (x) Prosthetics CAD/CAM Crown and bridges Ceramics Custom abutments 16-unit bridges Veneers and porcelains x Scanners Software Centralized milling Chairside milling x 45

Straumann share price development 2002-08 Stock price development in CHF* July 2002 July 2008 400 350 300 CHF 250 200 150 100 Straumann MSCI Healthcare & Equipment Index SPI Swiss Index 50 0 Jul 02 Jul 03 Jul 04 Jul 05 Jul 06 Jul 07 Jul 08 * All indices rebased to Straumann share price Source: Thomson Reuters 46