Leif Heussen T +49 6172 608-4030 leif.heussen@fresenius.com Contact for analysts and investors Dr. Dominik Heger T +49 6172 609-2601 dominik.heger@fmc-ag.com www.freseniusmedicalcare.com Under

Under the U.S. Securities Act of 1933, as amended

(the "Securities Act"), this press release may be deemed to be offering material of Fresenius Medical Care AG &

Co. KGaA ("FME"). FME has filed a registration statement on Form F-4 under the Securities Act with the U.S. Securities

and Exchange Commission (the "SEC"), including an information statement/prospectus constituting a part thereof. FME SHAREHOLDERS

ARE URGED TO READ THE REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC, INCLUDING

THE INFORMATION STATEMENT/PROSPECTUS THAT IS PART OF THE REGISTRATION STATEMENT, AS THEY BECOME AVAILABLE, BECAUSE THEY CONTAIN

OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED CONVERSION DESCRIBED THEREIN. The final information statement/prospectus

will be distributed to FME shareholders. Shareholders may obtain a free copy of the disclosure documents (when they are available) and

other documents filed by FME with the SEC at the SEC's website at www.sec.gov or from Fresenius Medical Care AG & Co.

KGaA, Attention: Investor Relations, Else-Kr ner-Stra e 1, 61352 Bad Homburg v.d.H., Germany.

Fresenius Medical Care sees improving trends in the first quarter

and is progressing on its transformation

Helen Giza, Chief Executive Officer of Fresenius

Medical Care, said: "While the results for the first quarter slightly exceeded our albeit low expectations formulated at the

beginning of the year, we still expect 2023 to be a year of level-setting for Fresenius Medical Care. However, the operational improvements

already achieved, show that our newly implemented operating model and the turnaround plan provide the right framework. The first quarter

confirmed the trends towards improving treatment volumes and towards a stabilizing labor environment in the U.S. Both are key for an

increasing operating leverage as well as for ensuring the high-quality standard for our patients. Based on these positive developments,

we confirm our financial outlook for 2023."

Key figures (IFRS, unaudited)

yoy = year-on-year, cc = at constant currency,

EPS = earnings per share

Operating income decline moderated

by positive underlying trends

Revenue increased by 3% to EUR 4,704 million

(+2% at constant currency, +2% organic).

Care Delivery revenue increased by 3%

to EUR 3,756 million (+1% at constant currency, +2% organic).

In Care Delivery U.S., growth of 2% (-2% at constant

currency, -1% organic) was mainly driven by a positive exchange rate effect. At constant currency, the decrease in revenue was mainly

due to a decline in organic growth and the prior-year partial reversal of an accrual related to a revenue recognition adjustment for

accounts receivable in legal dispute. Despite reimbursement rate increases in 2023, organic growth in the U.S. was negatively affected

by the impact of the reconciliation of revenues recorded in 2022 for the final performance year of our ESRD Seamless Care Organizations

(ESCOs). While the annualization effect of COVID-19-related excess mortality continues to weigh on growth, the improvement trend has

continued with only slightly negative same market treatment growth (-0.3%).

In Care Delivery International, revenue grew

dynamically at 5% (+12% at constant currency, +12% organic). At constant currency, this was mainly driven by strong organic growth, which

was mostly due to the effects of hyperinflation in various markets, including Latin America, as well as contributions from acquisitions.

Despite the annualization effect of COVID-19-related excess mortality, same market treatment growth was positive at 0.5%.

For FY 2022, special items included costs related to the FME25 program, the impact of the war in Ukraine, the impact of

hyperinflation in Turkiye, the Humacyte investment remeasurement and the net gain related to InterWell Health. Additionally, the FY 2022

basis for the 2023 outlook was adjusted for U.S. Provider Relief Funding. For FY 2023, special items include costs related to the FME25

program, the Humacyte investment remeasurement, the costs associated with the legal form conversion and effects from legacy portfolio

optimization. For further details please see the reconciliation attached to the Press Release.

Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA

Care Enablement revenue increased by 3%

to EUR 1,311 million (+3% at constant currency, +3% organic). At constant currency, growth was mainly driven by higher sales of critical

care products in China and home hemodialysis products. The revenue development was additionally supported by increased average sales

prices for products sold.

Within Inter-segment eliminations, revenue

for products transferred between the operating segments at fair market value decreased by 1% to EUR 363 million (-2% at constant currency;

Q1 2022: EUR 366 million).3

Operating income decreased by 25% to EUR

261 million (-28% at constant currency), resulting in a margin of 5.5% (Q1 2022: 7.6%). Operating income excluding special items and

U.S. Provider Relief Funding (PRF)1 declined by 9% to EUR 354 million (-13% at constant currency), resulting in a margin of

7.5% (Q1 2022: 8.6%).

Operating income in Care Delivery decreased

by 4% to EUR 284 million (-9% at constant currency), resulting in a margin of 7.6% (Q1 2022: 8.2%). Operating income excluding special

items and PRF1 decreased by 2% to EUR 302 million (-6% at constant currency). At constant currency, excluding special items

and PRF1, this was mainly due to the absence of effects that had contributed positively in the previous year, i.e. the partial

reversal of an accrual related to a revenue recognition adjustment for accounts receivable in legal dispute, the reconciliation of revenues

recorded in 2022 for the final performance year of our ESCOs, and the suspension of sequestration in the U.S. Savings from the FME25

Program, favorable business growth and lower personnel expense had a positive impact.

Operating income in the Care Enablement

segment decreased to EUR -24 million (Q1 2022: EUR 69 million), resulting in a margin of -1.9% (Q1 2022: 5.5%). Operating income excluding

special items and PRF1 decreased by 29% to EUR 69 million (-32% at constant currency). At constant currency, excluding special

items and PRF1 this was mainly due to inflationary cost increases for energy, material and personnel. Higher volumes in critical

care, in particular in China, overall price improvements and savings from the FME25 Program contributed positively. With EUR 83 million,

the costs related to the discontinuation of a development program for a dialysis cycler was the most sizable special item that has been

adjusted for in the first quarter. This is part of the announced legacy portfolio optimization.

3 The Company transfers products between

segments at fair market value. The associated internal revenues and expenses and any remaining internally generated profit or loss for

the product transfers are recorded within the operating segments initially, are eliminated upon consolidation and are included within

"Inter-segment eliminations".

Operating income for Corporate was positive

with EUR 10 million (Q1 2022: EUR -10 million), mainly due to the remeasurement of the investment in Humacyte. Excluding special items,

operating income amounted to EUR -8 million (Q1 2022: EUR -7 million).

decreased by 45% to EUR 86 million (-47% at constant currency). Excluding special items and PRF1, net income

declined by 22% to EUR 154 million (-24% at constant currency). In addition to the effects on operating income mentioned above, negative

impacts resulted from higher net interest expense, which was mainly driven by refinancing activities, as well as an increase in the proportionate

share of non-tax-deductible expenses compared to taxable income.

Basic earnings per share (EPS) decreased

by 45% to EUR 0.29 (-47% at constant currency). EPS excluding special items and PRF1 declined by 22% to EUR 0.53 (-24% at

Cash flow development

In the first quarter, Fresenius Medical Care

generated EUR 143 million of operating cash flow (Q1 2022: EUR 159 million), resulting in a margin of 3.0% (Q1 2022: 3.5%). The

reduction was mainly due to the decrease in net income.

amounted to EUR 2 million (Q1 2022: EUR -1 million) in the first quarter, resulting in a margin of 0.0% (Q1 2022: 0.0%).

Based on the results for the first quarter, Fresenius

Medical Care confirms its financial targets for 2023.

Net cash provided by / used in operating activities, after capital expenditures, before acquisitions, investments, and dividends

Fresenius Medical Care expects for 2023 revenue

to grow at a low to mid-single digit percentage rate (2022 basis: EUR 19,398 million) and operating income to remain flat or decline

by up to a high-single digit percentage rate (2022 basis: EUR 1,540 million).5

Patients, clinics and employees

As of March 31, 2023, Fresenius Medical

Care treated 343,067 patients in 4,060 dialysis clinics worldwide and had 125,231 employees (headcount) globally,

compared to 130,177 employees as of March 31, 2022.