Martin Kunze T +49 6172 608-2115 martin.kunze@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 intends to file 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 WILL BE PART OF THE REGISTRATION STATEMENT, AS THEY BECOME AVAILABLE, BECAUSE THEY WILL

CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED CONVERSION. 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-Strasse 1, 61352 Bad Homburg v.d.H., Germany.

Fresenius Medical Care delivers against FY22 expectations, sets

strategic focus and accelerates transformation

Helen Giza, Chief Executive Officer of Fresenius

Medical Care, said: "Our clear focus in the coming years will be on improved operational performance and our transformation

efforts to ensure shareholder value creation. This will involve even bolder steps to both further simplify and focus the way we manage

our business to drive sustainable profitable growth recovery. This will be achieved through a simplified and efficient governance structure,

faster execution on operational efficiencies within the two new global segments, and further streamlining of our processes and portfolio.

All of this supports our unwavering mission to provide the best possible care for our patients around the globe. 2022 has shown, that

we operate in a very challenging environment. While we expect more headwinds than tailwinds, and no governmental support for 2023, our

transformation efforts and sharpened focus will enable us to accelerate the execution of our strategic initiatives and to return to earnings

yoy = year-on-year, cc = at constant currency, EPS = earnings per

Strategic aspiration: unlocking value as the

leading kidney care company

Care, the world's leading provider of products and services for individuals with renal diseases, continues to deliver on its transformation

to return to a sustainable profitable growth path and support the creation of shareholder value with a clear focus on strengthening

the core business and generating further operational and structural efficiencies. The Company's significantly enhanced and accelerated

efforts will target the following focus areas.

Fresenius Medical Care has implemented its new operating model with two global segments: Care Enablement (Health Care Products) and Care

Delivery (Health Care Services). This operating model provides increased transparency to drive the targeted business performance improvements

as well as scalable General & Administrative functions to support the operating segments. The announced plan to change the legal

form will result in a simplified governance structure as well as faster and fully independent decision making while strengthening the

rights of free float shareholders. Please see the separate Press Release published today for further details.

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 remeasurement effect on the fair value of the investment

in Humacyte, Inc., and the net gain related to InterWell Health. For further details please see the reconciliation at the end of the

Fresenius Medical Care has formulated a disciplined capital allocation policy to drive the improvement of Return on Invested

Capital (ROIC) and remains committed to both its investment grade ratings as well as to managing its leverage ratio (Net debt/EBITDA)

in the self-imposed target range of 3.0x to 3.5x. The Company will strictly follow its policy to align dividend payments with earnings

development. This year's dividend proposal of EUR 1.12 reflects a reduction by 17% compared to the previous year.

efficiency: The Company will accelerate and extend its FME25 transformation program to further optimize processes along the

new operating model. Fresenius Medical Care increases the savings target for the program from EUR 500 million to EUR 650 million by 2025

and now expects to invest up to EUR 650 million in the same period3. By the end of

2022, Fresenius Medical Care delivered EUR 131 million (on operating income level) of sustainable savings under the FME25 program, exceeding

the original target of EUR 40 to 70 million for the same period.

of its turnaround efforts the Company will drive additional operational efficiencies and cost reduction measures. In Care Delivery,

this will include productivity and operating leverage improvements in the core dialysis services business. In Care Enablement, Fresenius

Medical Care will focus on pricing initiatives, productivity measures and a review of its global manufacturing footprint.

Portfolio optimization:

With a disciplined lens of focus on the core business and improving profitability, Fresenius Medical Care will adjust its

portfolio. In Care Delivery, this includes exiting unsustainable markets in our international activities and divestitures of non-core

businesses. In Care Enablement, the Company will rationalize its global Research & Development programs and is evaluating the

divestment of non-core products in the portfolio. This will enable focused capital allocation towards areas with higher profitable growth

in the core business. Proceeds from disposals resulting from the portfolio optimization shall be used to reduce the Company's leverage

Continued progress in Value-based Care and

Fresenius Medical Care has grown the number of

its ESRD (End-Stage Renal Disease) and CKD (Chronic Kidney Disease) patients receiving care in Value-based Care arrangements from

around 20,000 patients in 2021 to around 90,000 in 2022. The Company had around USD 6 billion of medical cost under management in 2022

and expects that number to further increase to USD 11 billion by the end of 2025.

With the successful completion of the Global

Sustainability Program, Fresenius Medical Care has laid a foundation to drive its sustainability performance and create lasting value

- economically, ecologically, and socially. Through the three-year program, the Company integrated sustainability principles into

business activities, establishing global standards, processes, and performance tracking. Based on the results, new global sustainability

targets have been set that confirm Fresenius Medical Care's continuous commitment to sustainability. Key areas are: enhancing quality

of care and access to health care, building the best team to serve patients, and reducing the Company's environmental footprint.

Full year earnings in line with expectations:

continued impact from higher labor costs and inflationary cost increases

increased by 8% to EUR 4,997 million (+2% at constant currency, +2% organic) in the fourth quarter.

Health Care Services revenue grew by 9% to EUR

3,947 million (+2% at constant currency, +3% organic). At constant currency, this was mainly driven by organic growth in EMEA, including

the effects of hyperinflation in Turkiye, as well as organic growth in Asia-Pacific and Latin America. This was partially offset by the

impact of COVID-19 on organic growth in North America.

Health Care Products revenue increased by 2%

to EUR 1,050 million (stable at constant currency, stable organic). At constant currency, higher sales of in-center disposables were

offset by lower sales of machines for chronic treatment.

In the full year, revenue grew by 10% to EUR

19,398 million (+2% at constant currency, +2% organic). Health Care Services revenue increased by 11% to EUR 15,418 million (+2% at constant

currency, +1% organic); Health Care Products revenue grew by 6% to EUR 3,980 million (+2% at constant currency, +2% organic).

decreased by 22% to EUR 352 million (-28% at constant currency) in the fourth quarter, resulting in a margin of 7.0% (Q4 2021:

9.7%). Operating income excluding special items1 increased by 1% to EUR 495 million (-8% at constant currency), resulting

in a margin of 9.9% (Q4 2021: 10.6%). At constant currency, the decline was mainly due to supply chain and labor cost increases across

all regions, the impact of U.S. Provider Relief Funding (PRF) received in the previous year's quarter to compensate for certain

COVID-19-related costs, and higher legal costs. This was partially offset by an unfavorable impact from the remeasurement of investments

in the previous year and savings related to the FME25 program.

In the full year, operating income declined by

18% to EUR 1,512 million (-25% at constant currency), resulting in a margin of 7.8% (FY 2021: 10.5%). Excluding special items1,

operating income decreased by 5% to EUR 1,817 million (-13% at constant currency), resulting in a margin of 9.4% (FY 2021: 10.9%).

decreased by 39% to EUR 139 million (-47% at constant currency) in the fourth quarter. Excluding special items1,

net income2 declined by 4% to EUR 253 million (-14% at constant currency). Besides the above-mentioned effects on operating

income, the constant currency decline was mainly due to an increase in the proportionate share of non-tax-deductible expenses compared

to taxable income as well as tax law changes. Basic earnings per share (EPS) decreased by 39% to EUR 0.47 (-47% at constant currency).

Excluding special items1, EPS declined by 4% to EUR 0.86 (-14% at constant currency).

In the full year, net income2 decreased

by 31% to EUR 673 million (-37% at constant currency). Excluding special items1, net income2 declined by 10% to

EUR 913 million (-17% at constant currency). EPS decreased by 31% to EUR 2.30 (-37% at constant currency). Excluding special items1,

EPS declined by 10% to EUR 3.11 (-17% at constant currency).

Regional developments

revenue increased by 12% to EUR 3,529 million (stable at constant currency, stable organic) in the fourth quarter. At constant currency,

this was mainly due to the negative impact of COVID-19 on organic growth in Health Care Services, as well as lower sales of products

for acute care treatments and machines for chronic treatment, weighing on growth in the Health Care Products business. In the