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Corporate Governance Roadshow Presentation (PDF, 6.84 MB)

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FAQ

Corporate governance covers all aspects connected with the management, supervision and transparency of companies. Key elements of good corporate governance are efficient company management, the protection of shareholders' interests and transparent corporate communication.

The Supervisory Board of Fresenius SE & Co. KGaA and the Management Board of the general partner of Fresenius SE & Co. KGaA, Fresenius Management SE, issued the Declaration of Conformity pursuant to Section 161 of the German Stock Corporation Act in December 2025.

Current Declaration of Conformity

Declaration of Conformity of Fresenius SE & Co. KGaA, December 2025 (PDF, 81KB)

German Corporate Governance Code

Current version of the German Corporate Governance Code (PDF, 305KB)

Previous Declarations of Conformity

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Please find below the 2025 Corporate Governance Declaration and Report of Fresenius SE & Co. KGaA.

Corporate Governance Declaration and Report 2025 of Fresenius SE & Co. KGaA (PDF, 466KB)

The Management Board takes diversity into account when filling executive positions. At Fresenius, the individual’s qualifications are the paramount consideration in all hiring and promotion decisions. This means that women and men with comparable qualifications and suitability have the same career opportunities. Fresenius will continue to consistently act upon this principle – in compliance with the obligations arising from the Act on the Equal Participation of Women and Men in Leadership Positions in the Private Sector and the Public Sector (FüPoG I) and the Act to Supplement and Amend the Regulations for the Equal Participation of Women in Leadership Positions in the Private Sector and the Public Sector (FüPoG II):

For the Supervisory Board of Fresenius SE & Co. KGaA, the law requires a quota of at least 30% women and 30% men. These mandatory quotas were again met by the Supervisory Board elections in 2021.

The legally stipulated targets for the Management Board do not apply to Fresenius Management SE or to Fresenius SE & Co. KGaA. Due to its legal form, Fresenius SE & Co. KGaA does not have a Management Board. Fresenius Management SE is not listed on the stock exchange and is also not subject to co-determination. In accordance with the legal requirements, the Management Board specifies composition of the two management levels directly below the Management Board as follows:

The first management level includes all Senior Vice Presidents and Vice Presidents who have an employment contract with Fresenius SE & Co. KGaA and who report directly to a Member of the Management Board. Through a decision effective January 1, 2021 the Management Board has set a target, which has to be met by December 31, 2025, and calls for a proportion of women of 30.0% at the first management level.

The second management level includes all Vice Presidents who have an employment contract with Fresenius SE & Co. KGaA and who report directly to a member of the first management level. Through the decision effective January 1, 2021, the Management Board has set a target, which has to be met by December 31, 2025, and calls for a proportion of women of 30.0% at the second management level. The Management Board believes that inclusion in the company-wide long-term incentive programs is a strong indicator that an individual holds a leading executive position. The proportion of women in this group of our top 1,800 executives was approximately 34% as of December 31, 2022.

Compensation of the Management Board and Supervisory Board

For a detailed report on the Management and Supervisory Board members’ compensation please refer to the Compensation Report 2025.

For further information regarding the Compensation System 2023+, please refer to the following document:

Detailed description of Compensation System 2023+ (PDF, 551KB)

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Stock Option Plans and Employee Participation Program

Our corporate philosophy "entrepreneur in the enterprise" implies not only that our employees are driven by a spirit of entrepreneurial responsibility but that they also have a stake in the company's performance. The overall remuneration package for Group executives and the members of the Management Board has been linked to the performance of the share price through stock option plans.

As of December 31, 2022, Fresenius SE & Co. KGaA had two share-based compensation plans in place: the Fresenius SE & Co. KGaA Long Term Incentive Program 2013 (2013 LTIP) which is based on stock options and phantom stocks and the Long Term Incentive Plan 2018 (LTIP 2018) which is solely based on performance shares. Currently, solely LTIP 2018 can be used to grant performance shares.

In 2023, the new employee participation program Fresenius SHARE was introduced. The program applies equally to all employees of the participating companies - whether collectively agreed or non-pay-scale employees, executives as well as trainees and temporary workers. The program consists of two components: On the one hand, participants can annually purchase a share package with ordinary shares of Fresenius SE & Co. KGaA at a significant discount. Secondly, four targets have been set, upon achievement of which a certain amount will be issued in ordinary shares of Fresenius SE & Co. KGaA. In addition to increasing the Group's net income, the targets include the topics of cybersecurity and quality. The first shares will be issued in 2024, corresponding to the achievement of the targets in the 2023 financial year.

Articles of Association of Fresenius SE & Co. KGaA (May 23, 2025) (PDF, 174KB)

Management Board

Fresenius SE & Co. KGaA does not have an own Management Board. The Management Board of the general partner, Fresenius Management SE, is responsible for conducting the business of the KGaA. It formulates strategy, coordinates this with the Supervisory Board of Fresenius SE & Co. KGaA, and sees to its implementation. It is guided solely by the best interests of Fresenius SE & Co. KGaA.

Supervisory Board of Fresenius SE & Co. KGaA

The Supervisory Board of Fresenius SE & Co. KGaA supervises the management of the Company’s business by the general partner and the latter’s Management Board. The Supervisory Board of Fresenius SE & Co. KGaA has 12 members – 6 shareholder representatives and 6 employee representatives It supervises whether corporate decisions are compliant, suitable, and financially sound. The members of the Management Board of the general partner are appointed by the Supervisory Board of Fresenius Management SE, not by the Supervisory Board of the KGaA.

The Supervisory Board of Fresenius SE & Co. KGaA has the following committees:

- Audit Committee
- Nomination Committee
- Joint Committee
- IT Committee

Supervisory Board of Fresenius Management SE

The Supervisory Board of Fresenius Management SE advises and supervises the Management Board in its management of the Company. The Supervisory Board of Fresenius Management SE appoints the members of the Management Board. He consists of six members who are elected by the annual general meeting of Fresenius Management SE Committees.

Current Publications of transactions that are subject to disclosure requirements are listed, together with the information required by law (before July 3, 2016 pursuant to section 15a of the German Securities Trading Act (WpHG); from July 3, 2016 pursuant to Art. 19 of the Market Abuse Regulation).

2026

2025

2024

2023

2022

2021

Transactions reported during the last 12 months are stored on the Federal Financial Supervisory Authority's central database and can be accessed by clicking on the link Bundesanstalt für Finanzdienstleistungsaufsicht (BAFin).

Library

Corporate Governance Roadshow Presentation (PDF, 6.84 MB)

Related Links

Management Board Supervisory Board Financial Reports

FAQ

Corporate Governance

Contact

board@fresenius.com

Related Links

Corporate Governance Financial Reports Management Board

Members of the Supervisory Board of Fresenius SE & Co. KGaA

Member of various supervisory bodies

Chairman of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2021
Current term of office: 2025 – 2029

Wolfgang Kirsch


Date of Birth:	March 19, 1955
Place of Birth:	Bensberg
Nationality:	German

Professional Experience


2002 - 2018	DZ Bank AG 2006 - 2018 Chief Executive Officer 2005 - 2006 Deputy Chief Executive Officer 2002 - 2005 Member of the Board of Managing Directors
2000 - 2002	Deutsche Bank AG, Frankfurt Managing Director and Senior Credit Executive of the Corporates and Real Estate Division and CIB Corporate and Investment Bank
1998 - 2000	Deutsche Bank, Singapore General Manager and Chief Country Officer
1981 - 1998	Deutsche Bank AG, Düsseldorf and Frankfurt Various positions in corporate and investment banking

Education/Academic career


1977 - 1981	University of CologneStudies Business Administration (Diplom-Kaufmann)
1975 - 1977	Deutsche Bank AG Banking apprenticeship

1977 - 1981

University of CologneStudies

Business Administration (Diplom-Kaufmann)

1975 - 1977

Deutsche Bank AG

Banking apprenticeship


Membership of other statutory supervisory boards
B. Metzler seel. Sohn & Co. Aktiengesellschaft (Chair) Fresenius Management SE (Fresenius Group mandate, Chair) Würth Finance International B.V.
Membership of comparable German or foreign supervisory bodies
None

Full-time Works Council Member
Helios Vogtland-Klinikum Plauen GmbH

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2018
Current term of office: 2025 – 2029

Benrd Behlert


Date of Birth:	October 1, 1958
Place of Birth:	Bad Elster
Nationality:	German

Professional Experience


since 09/2018	Chairman of the Group Works Council Helios Kliniken GmbH
since 2010	Member of the European Works Council of Fresenius SE & Co. KGaA
since 2006	Helios Vogtland-Klinikum Full-time Works Council Member (Chairman)
2003 - 2006	Humaine Vogtland-Klinikum 50% Works Council Member (Chairman); 50% Degreed engineer, Department of biomedical engineering
1990 - 2003	Vogtland-Klinikum Plauen Degreed engineer since 1994 Works Council Member (Chairman)
1985 - 1990	Bezirkskrankenhaus Plauen Degreed engineer

Education/Academic career


1980 - 1985	Ilmenau University of Technology Engineering degree in Technical Cybernetics and Biomedical Engineering


Membership of other statutory supervisory boards
Helios Vogtland-Klinikum Plauen GmbH (Fresenius Group mandate)
Membership of comparable German or foreign supervisory bodies
None

Member of various supervisory bodies

Deputy Chairman of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2015
Current term of office: 2025 – 2029

Michael Diekmann


Date of Birth:	December 23, 1954
Place of Birth:	Bielefeld
Nationality:	German

Professional Experience


2003 - 2015	Allianz SE (formerly Allianz AG) Chairman of the Management Board
1998 - 2003	Allianz AG Member of the Management Board
1988 - 1998	Allianz Versicherungs-AG
1983 - 1988	Diekmann / Thieme GbR (Publishing House) CEO

Education/Academic career


1973 - 1982	University of Göttingen Studies of Law and Philosophy


Membership of other statutory supervisory boards
Fresenius Management SE (Fresenius Group mandate)
Membership of comparable German or foreign supervisory bodies
None

¹Stock listed company

Secretary of the Trade Union ver.di Vereinte Dienstleistungsgewerkschaft

Deputy Chair of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2020
Current term of office: 2025 – 2029

Grit Genster


Date of Birth:	January 24, 1973
Place of BIrth:	Cottbus
Nationality:	German

Professional Experience


since 1991	Trade Union Vereinte Dienstleistungsgewerkschaft ver.di since 2015 Head of Health care affairs 2012 – 2015 Department coordination 1996 – 2012 ver.di-districts Essen und Wuppertal-Niederberg last position serving as managing director 1994 – 1996 Trainee as trade union secretary 1991 – 1994 Administrative clerk

since 1991

Trade Union Vereinte Dienstleistungsgewerkschaft ver.di

since 2015 Head of Health care affairs
2012 – 2015 Department coordination
1996 – 2012 ver.di-districts Essen und Wuppertal-Niederberg
last position serving as managing director
1994 – 1996 Trainee as trade union secretary
1991 – 1994 Administrative clerk

Education


1989 - 1991	Lausitzer Braunkohle AG Apprenticeship as business management assistant


Membership of other statutory supervisory boards
None
Membership of comparable German or foreign supervisory bodies
None

Full-time Works Council Member
Helios Clinic Herzberg and Osterode GmbH

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2025
Current term of office: 2025 – 2029

Carsten Georg


Date of Birth:	August 03, 1963
Place of Birth:	Northeim
Nationality:	German

Professional Experience


since 2021	Member of the European Works Council of Fresenius SE & Co. KGaA Member of the Executive Committee since 2023
Since 2019	Deputy Chair of the Group Works Council Helios Kliniken GmbH
since 2014	Helios Clinic Herzberg and Osterode GmbH Works Council member released from duties since 2022 (Chair) Specialist nurse for nursing care in the surgical service
1998 – 2014	Specialist nurse (from 1999) for nursing care in the surgical service Klinik Herzberg and Osterode GmbH (Rhön)
1991 – 1998	Nurse in the OR Osterode am Harz District Hospital / Herzberg Department District of Osterode am Harz
4/83 – 03/91	Temporary soldier During this time training as a nurse

Education


1983 – 1986	Training as a nurse
1997 – 1999	Training as a specialist nurse for nursing in the surgical service


Membership of other statutory supervisory boards
None
Membership of comparable German or foreign supervisory bodies
None

Chairman of the Board and Medical Director
of the Mainz University Medical Center

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2025
Current term of office: 2025 – 2029

Ralf Kiesslich


Date of Birth:	May 14, 1970
Place of Birth:	Wiesbaden
Nationality:	German

Professional Experience


since 2024	Mainz University Medical Center Chairman of the Board and Medical Director
2021 – 2023	Helios Dr. Horst Schmidt Kliniken Wiesbaden Medical Director
2014 – 2021	Helios Dr. Horst Schmidt Kliniken Wiesbaden Gastroenterology Clinic Director, Medical Director
2012 – 2014	St. Marienkrankenhaus Frankfurt Chief Physician for Internal Medicine and Gastroenterology
2008 – 2012	Mainz University Medical Center W2 Professorship for Gastrointestinal Endoscopy

Education/Academic career


2005	Mainz University Medical Center Habilitation
1996	Mainz University Medical Center Promotion
1990 – 1996	Mainz University Medical Center Studies of human medicine


Membership of other statutory supervisory boards
None
Membership of comparable German and foreign supervisory bodies
None

Full-time Works Council Member
Quirónsalud Hospital Universitari General de Catalunya

Senior trade union secretary of the UGT trade union
for the private healthcare sector Barcelona

Member of the Supervisory Board of Fresenius SE & Co. KGaA

First appointment: 2025
Current term of office: 2025 – 2029


Date of Birth:	May 25, 1984
Place of Birth:	Barcelona
Nationality:	Spanish

Professional Experience


since 2025	Member of the European Works Council of Fresenius SE & Co. KGaA
since 02/2024	Mediator and Conciliator of the UGT trade union Labor Court of Catalonia Barcelona, Barcelona
since 06/2020	General Secretary of the UGT trade union UGT representative for occupational health and safety Quirónsalud Hospital Universitari General de Catalunya San Cugat del Vallés, Barcelon
since 01/2006	Administration Emergency Department Quirónsalud Hospital Universitari General de Catalunya San Cugat del Vallés, Barcelona

Education/Academic career


2008 - 2010	Master‘s degree in secretarial and operational management Vapor Universitario de Terrassa, Barcelona
2006 - 2008	CFGS Administration and Finance IES Terrassa, Barcelona
2004 - 2005	CFGM Administrativa IES Santa Eulalia, Barcelona
1996 - 2000	Secondary school diploma I.E.S. Cavall Bernat, Barcelona


Membership of other statutory supervisory boards
None
Membership of comparable German and foreign supervisory bodies
None

Member of various supervisory bodies

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2016
Current term of office: 2025 – 2029


Date of Birth:	November 17, 1960
Place of Birth:	Offenbach / Main
Nationality:	German

Professional Experience


2008 - 2024	UCB S.A. Chief Medical Officer and Executive Vice President Development
2001 - 2009	Schwarz Pharma AG Member of the Executive Board, Head of Research and Development
2000 - 2001	BASF Pharma Vice President Global Projects
1992 - 2000	Hoechst AG Various positions, last serving as Vice President Clinical Development

Education/Academic career


since 2000	University of Frankfurt am Main Professor for Internal Medicine
1985	University of Frankfurt am Main Doctorate in medicine (Dr. med.)
1979 - 1985	University of Frankfurt am Main Studies of medicine


Membership of other statutory supervisory boards
Evotec SE¹ (Chair)
Membership of comparable German or foreign supervisory bodies
Sobi Swedish Orphan Biovitrum¹ (Member of the Board of Directors) Financière de Tubize¹

¹ Stock listed company

Full-time Works Council Member
Fresenius Kabi Deutschland GmbH

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2023
Current term of office: 2025 – 2029

Holger Michel


Date of Birth:	May 18, 1969
Place of Birth:	Marburg
Nationality:	German

Professional Experience


since 2002	Fresenius Kabi Deutschland GmbH, Standort Friedberg since 2022 Chairman Works Council since 2021 Member of the European Works Council of Fresenius SE & Co. KGaA since 2018 Deputy Chairman since 2002 Member of the Works Council
since 2021	Honorary Judge, Hessian Tax Court
since 2017	IHK-Examiner, IHK Frankfurt
since 2015	Honorary Judge, Labour Court
2007 – 2018	Laboratoy Manager, IPK-Laboratories
2003 – 2007	Quality Control Technician
1992 – 2003	Quality Control Laboratory Assistant

Education


2021	Specialist for Occupational Health Management, IHK
2020 – 2021	Certified Specialist for Data Protection and Data Security
2018	Project Manager, IHK
1999 – 2001	Training as Bachelor Professional of Management for Industry
1985 – 1989	Apprenticeship as Chemical Laboratory Technician


Membership of other statutory supervisory boards
None
Membership of comparable German or foreign supervisory bodies
None

Works Council Member
Fresenius Kabi España S.A.U.

Laboratory Technician for the Pharmaceutical Industry

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2016
Current term of office: 2025 – 2029

Oscar Romero de Paco


Date of Birth:	January 29, 1974
Place of Birth:	Barcelona
Nationality:	Spanish

Professional Experience


since 2026	Chair of the European Works Council of Fresenius SE & Co. KGaA
since 2020	Spokesman of the works council for the company equal opportunities and equal opportunities plan (Plan de Igualdad)
since 2016	Member of the Supervisory Board of Fresenius SE & Co. KGaA
since 2008	Member of the European Works Council of Fresenius SE & Co. KGaA
since 2004	Member of the Works Council Fresenius Kabi España S.A.U.
since 1998	Laboratory Technician for Pharmaceutical Products at Fresenius Kabi España S.A.U

Education


Since 2024	Further education and training on CSRD and sustainability, including analysis of reports on a company‘s environmental, social and ethical performance; Trade union action for ecological transition and energy transition, JMZ Trade Union University
Since 2020	Further education and training on the topic of the Gender Equality and Equal Opportunities Plan according to Ley Orgánica 3/2007, with a focus on rules for pay transparency, gender equality audits and reporting obligations
1998	Training as a laboratory technician in the pharmaceutical industry Fresenius Kabi España S.A.U.
1990 - 1994	Secondary school graduation Instituto Cristófol Ferrer, Secondary school


Membership of other statutory supervisory boards
None
Membership of comparable German and foreign supervisory bodies
None

Member of various supervisory bodies

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2022
Current term of office: 2025 – 2029

Susanne Zeidler


Date of Birth:	February 28, 1961
Place of Birth:	Marl
Nationality:	German

Professional Experience


2014 – 2021	LPEQ Ltd. (Listed Private Equity Association), London Member of the Board, Non Executive Director
2012 - 2022	Deutsche Beteiligungs AG, Frankfurt / Main Member of the Executive Board / Chief Financial Officer Responsible for Finance and Accounting, Investor Relations, Legal and Tax, Portfolio Valuation, Risk Management, Internal Audit, Human Resources, Organization, IT (incl. cybersecurity)
2011 – 2012	Kirche in Not, Königstein im Taunus Managing Director at the global headquarter of the organization
1990 – 2011	KPMG AG, Frankfurt / Main Last position: Partner 2005 – 2010 Audit Services / Audit of private hospital chain and non-profit organizations 2000 – 2005 Head of the report critique and of administrative areas 1990 – 2005 Corporate finance / Company valuations in various industries and different business models
1987 - 1990	Winterhager Dr. Heintges Stützel Laubach GmbH, Wirtschaftsprüfungsgesellschaft, Düsseldorf Last position: Auditor and tax specalist

Education/Academic career


1995	Appointment as auditor (2013 waiver of appointment)
1992	Appointment as tax advisor (2022 waiver of appointment)
1980 - 1987	Westfälische Wilhelms-Universität Münster 1987 Degree: Diplom Kaufmann (Business Administration) 1981 - 1987 Business Administration 1980 - 1981 Education studies in Latin and French

1995

Appointment as auditor (2013 waiver of appointment)

1992

Appointment as tax advisor (2022 waiver of appointment)

1980 - 1987

Westfälische Wilhelms-Universität Münster

1987 Degree: Diplom Kaufmann (Business Administration)
1981 - 1987 Business Administration
1980 - 1981 Education studies in Latin and French


Membership of other statutory supervisory boards
Fresenius Management SE (Fresenius Group mandate)
Membership of comparable German and foreign supervisory bodies
None

Member of various supervisory bodies

Member of the Supervisory Board of Fresenius SE & Co. KGaA

Initial appointment: 2022
Current term of office: 2025– 2029


Date of Birth:	April 13, 1961
Place of Birth:	Stuttgart
Nationality:	German

Professional Experience


2018 – 2022	Siemens Healthineers AG, Erlangen Member of the Managing Board Responsible for Imaging, Advanced Therapies, Technology & Innovation, Quality & Regulatory Affairs, Sustainability
2018 – 2019	Siemens Healthineers AG, Erlangen President Business Segment Diagnostic Imaging
2015 – 2018	Siemens AG, Healthcare Sector, Erlangen SVP, General Manager of Business Line Magnetic Resonance
2014 – 2015	Beckmann-Coulter – A Danaher Company, Miami (USA) SVP, Head of Business Unit Hematology and Urinalysis
1998 – 2014	Siemens AG, Healthcare Sector, Knoxville (USA) 2012 – 2014 CEO PETNET Solutions (Radiopharmaceuticals), Knoxville (USA) 1998 – 2012 Various leading positions: Marketing, R & D, Erlangen
2012 – 2014	Siemens AG, Healthcare Sector, Knoxville (USA) CEO PETNET Solutions (Radiopharmaceuticals)
1994 – 1998	University of Tübingen Resident Physician Surgery
1993 – 1994	University of Frankfurt am Main Resident Physician Internal Medicine, Nuclear Medicine

Education/Academic career


1995	University Frankfurt am Main Doctor of Medicine, M.D. (Dr.)
1985 – 1992	University Frankfurt am Main Studies in Medicine

1995

University Frankfurt am Main

Doctor of Medicine, M.D. (Dr.)

1985 – 1992

University Frankfurt am Main
Studies in Medicine


Membership of other statutory supervisory boards
Gerresheimer AG¹
Membership of comparable German and foreign supervisory bodies
None

¹ Stock listed company

Committees of the Supervisory Board of Fresenius SE & Co. KGaA

Wolfgang Kirsch (Chair)
Michael Diekmann
Susanne Zeidler

Susanne Zeidler (Chair)
Bernd Behlert
Grit Genster
Wolfgang Kirsch
Dr. Christoph Zindel

Dr. Dieter Schenk (Chair)
Michael Diekmann
Wolfgang Kirsch
Susanne Zeidler

The committee consists equally of two members each of the Supervisory Board of Fresenius SE & Co. KGaA and of Fresenius Management SE.

Dr. Christoph Zindel (Chair)
Óscar Romero de Paco
Susanne Zeidler

Additional information on the Supervisory Board of Fresenius SE & Co. KGaA

Rules of Procedure

Rules of Procedure of the Supvervisory Board (PDF, 81KB)

Rules of Procedure

Rules of Procedure of the Audit Committee (PDF, 95KB)

CVs of the Supervisory Board members

CVs 2026 (PDF, 960KB)

Meeting participation by individual

Overview 2025 (PDF, 89KB) Overview 2024 (PDF, 142KB) Overview 2023 (PDF, 83KB) Overview 2022 (PDF, 104KB) Overview 2021 (PDF, 96KB) Overview 2020 (PDF, 136KB) Overview 2019 (PDF, 134KB) Overview 2018 (PDF, 37KB) Overview 2017 (PDF, 35KB) Overview 2016 (PDF, 60KB) Overview 2015 (PDF, 37KB)

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Members of the Supervisory Board of Fresenius Management SE

Chairman of the Supervisory Board of Fresenius SE & Co. KGaA

Former Chief Executive Officer of Deutsche Post DHL Group

Member of various Supervisory Boards

Deputy Chairman
Member of supervisory bodies

Member of supervisory bodies

Contact

board@fresenius.com

Related Links

Corporate Governance Financial Reports Management Board

Publications and Policies

In our annual sustainability reporting, we disclose required regulatory information regarding our material sustainability topics. In addition, we publish our Sustainability Highlights Magazine once a year, providing an overview of our related activities.

Sustainability Statement 202 5
in accordance with the European Sustainability Reporting Standards

Sustainability Factbook
Interactive KPI Tool

Sustainability Statement 2024
Group Non-Financial Report 2023
Group Non-Financial Report 2022
Group Non-Financial Report 2021
Group Non-Financial Report 2020

Sustainability Highlights Magazine Vol. 3
Sustainability Highlights Magazine Vol. 2
Sustainability Highlights Magazine Vol. 1

SASB Index 2025

Our contribution to the UN Sustainable Development Goals

Our policies provide employees and business partners with clear guidance on our approach to responsible business conduct and sustainability. Among the relevant internal documents are:

Fresenius Group Code of Coduct

Fresenius AI-Guidelines

Group Environmental Policy

Group Human Rights Statement

Group Tax Policy

Group Social and Labor Standards Guideline

Code of Conduct for Business Partners

Rating overview

ESG rating agencies regularly evaluate and review Fresenius' sustainability performance. In doing so, they focus on different aspects across the areas of Environment, Social, and Governance (ESG).

A close dialog with our stakeholders on these topics is very important to us. We are actively working to enhance transparency on relevant topics. This is reflected in consistently good rating results.

*The use by FRESENIUS SE & CO. KGAA of any MSCI ESG RESEARCH LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of FRESENIUS SE & CO. KGAA by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided ‘as-is’ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.

*Copyright ©2025 Morningstar Sustainalytics. All rights reserved. The information, data, analyses and opinions contained herein: (1) includes the proprietary information of Sustainalytics and/or its content providers; (2) may not be copied or redistributed except as specifically authorized; (3) do not constitute investment advice nor an endorsement of any product, project, investment strategy or consideration of any particular environmental, social or governance related issues as part of any investment strategy; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. The ESG-related information, methodologies, tool, ratings, data, and opinions contained or reflected herein are not directed to or intended for use or distribution to India-based clients or users and their distribution to Indian resident individuals or entities is not permitted. Neither Morningstar Inc., Sustainalytics, nor their content providers accept any liability for the use of the information, for actions of third parties in respect to the information, nor are responsible for any trading decisions, damages or other losses related to the information or its use. The use of the data is subject to conditions available at https://www.sustainalytics.com/legal-disclaimers.

Process for handling and investigating reports

The following graphic illustrates the steps for processing reports, starting from the acknowledgment of receipt to the feedback provided to the person filing the report, using the example of two fictional protagonists: Kate and Aditi.*

*The persons and stories depicted in this image are purely fictional. Any resemblance to actual persons is purely coincidental and unintentional.

1 – Confirmation of receipt

Kate reports a suspicion of possible misconduct through the grievance mechanism. Aditi, a specially trained member of our Business Integrity Team, receives the report and confirms its receipt.
2 – Pre-Assessment

Aditi carefully reviews the received report for plausibility and completeness. She contacts Kate to obtain additional information, if needed.
3 – Preparation

Following the initial assessment, Aditi determines that the report contains indications of a potential compliance incident related to human rights. She then defines the objective and scope of the investigation and formally issues the mandate to proceed with the investigation. Subsequently, she hands over the case to the responsible investigation team to clarify the incident.
4 – Investigation

The investigation team analyzes the facts and evaluates the underlying processes to identify potential weaknesses. It ensures that the investigation is conducted confidentially, fairly, objectively, and proportionately. All collected information, as well as the insights derived from it, are carefully documented and summarized by the investigation team.
5 – Remediation

Based on the results of the investigation, the responsible department decides which actions need to be taken to prevent similar violations in the future. These may include personnel measures as well as the introduction of process adjustments. The responsible department ensures that all corrective actions are appropriate and monitors their timely implementation. The investigation team, led by Aditi, documents this process.
6 – Feedback to the reporter

Once the investigation is concluded, Kate receives feedback on the status of the investigation and the actions taken - naturally, in compliance with confidentiality and data protection requirements.

Additional information on our grievance mechanisms and the protection of whistleblowers can be found in the process descriptions of the respective companies:

Fresenius SE:
https://www.fresenius.com/grievance-mechanism

Fresenius Kabi:
https://www.fresenius-kabi.com/responsibility/business-ethics

Fresenius Helios:
https://www.helios-gesundheit.de/menschenrechte

Quirónsalud:
https://www.quironsalud.com/en/group/whistleblowing-channel

Help us do the right thing!

Have you ever had the feeling that something isn’t quite right? Perhaps you noticed something that shouldn’t be the way it is, or you yourself were affected by such a situation. That’s when it’s time to report a grievance.

Watch the video to find out how to report a grievance, to learn why reporting grievances is so important, and to see what happens to a report after you submit it.

Your information counts!

Reports received with human rights relevance in the reporting year 2025

The metrics describe the reports received through our reporting systems in the reporting year that were related to human rights – broken down into those affected in our own operations and those in our value chain. Of the 24 (2024: 28) reports received, 1 (2024: 4) proved to be a human rights violation. No report was related to a severe human rights incident in the upstream or downstream value chain or in Fresenius’ own operations.¹

	Own operations	Value chain
Reports received with human rights relevance	23	1
Of which are violations	1	-
Of which are severe human rights violations	-	-

¹Severe human rights violation include incidents of forced labor, incidents of human trafficking, incidents of child labor as well incidents involving a large number of people or affecting a large area. This categorization is based, for example, on the definitions of the Corporate Sustainability Reporting Directive (CSRD).
The Group-wide Sustainability Report 2025 (CSRD Report) contains detailed information on the substantiated cases and the remedial and preventive measures implemented in the chapters “Own workforce” and “Workers in the value chain”.

Consideration of the interest of those affected

At Fresenius, we attach great importance to taking appropriate account of the interests of whistleblowers and those of potentially affected persons in the processing of reports. We achieve this through a transparent, fair and comprehensive examination of all incoming complaints by specially trained staff.

Our aim is to ensure that the concerns of those affected are taken seriously and processed in accordance with the applicable legal and internal company requirements. In doing so, we ensure that all relevant information and perspectives are included in the decision-making process to find a balanced and appropriate solution.

Through feedback from those affected, we analyze how our process is accepted in practice and where there is potential for optimization. This input is incorporated into the further development of our processes to ensure that the interests of those affected are taken into account even better in future.

Review and further development of our complaints procedure

The results of our risk analysis and the findings on potential target groups of our grievance and whistleblower channels are incorporated into the further development of our grievance mechanism and the processing of respective reports. Based on our findings, we review the effectiveness of the procedure on an annual basis, or more frequently if required. Where necessary, we make appropriate adjustments and changes with regard to accessibility and process.

Human Rights at Fresenius

Our Human Rights Program

Further Information

Group-wide Governance & Responsibilities Risk Assessment & Impact Preventive & Remedial Action

Contact

Fresenius SE & Co. KGaA
Else-Kröner-Str. 1
61352 Bad Homburg
Germany

humanrights@fresenius.com

Human Rights Program

Our Human Rights Program Group-wide Governance & Responsibilities Risk Assessment & Impact Preventive & Remedial Action

You want to file a report?

Reports on possible human rights violations or other types of compliance violations can be reported around the clock, either anonymously or by name, via our whistleblower system*:

Whistleblower system
https://freseniusgroup.ethicspoint.com

By telephone*
+49 (0) 800 181 1338

By mail
Fresenius SE & Co. KGgaA Business Integrity
Else-Kröner-Str. 1
61352 Bad Homburg v.d.H. Deutschland

By e-mail:
humanrights@fresenius.com

* The prices of your mobile or landline contract apply.

Contact

Fresenius SE & Co. KGaA
Else-Kröner-Str. 1
61352 Bad Homburg
Germany

humanrights@fresenius.com

Human Rights Program

Our Human Rights Program Group-wide Governance & Responsibilities Preventive & Remedial Action Grievance Procedure & Handling

Whistleblowing system

Reports on possible human rights or other types of compliance violations can be reported around the clock, either anonymously or by name, via our whistleblower system*:

Phone number: +49 (0) 800 181 1338*
https://freseniusgroup.ethicspoint.com

More infos about our grievance mechanism

*The prices of your mobile or landline contract apply

Human rights risks can change over time. We therefore conduct annual and event-related risk analyses. In the 2024 reporting period, this was done in the third and fourth quarters. An event-related risk analysis was not conducted.

Remark: The results of the risk analysis for the 2025 reporting year will be updated at a later stage.

Process for identifying and assessing human rights risks

Identifying and assessing human rights risks in our own company and in our value chain is a comprehensive process that consists of risk identification, risk analysis, and risk assessment. We follow a risk-based approach that can be divided into three phases and is explained below with the help of the fictional protagonist, John.*

*The persons and stories depicted in these images are purely fictional. Any resemblance to actual persons is purely coincidental and unintentional.

Risk identification

John works in the Fresenius Human Rights team. In the first phase, he conducts a country- and industry-specific abstract risk analysis to identify potential human rights risks.
Gap analysis

To evaluate which of the identified potential risks could also be actual risks, John conducts a gap analysis in the second phase. For this, he uses standardized questionnaires, for example, to record processes, responsibilities, and procedures for each potential risk area. This applies to our own business as well as to the value chain. John closely involves the risk owners and experts from the affected departments in these gap analyses.
Risk assessment

In the third and final step of the risk analysis, John, together with the experts from the affected departments, analyzes and evaluates the gaps and risks identified, taking into account the impact on those affected and the likelihood of occurrence. For prioritized risks, they then define remedial and preventive measures.

Curious about how we weigh and prioritize risks? Here's how:

To weight and prioritize risks, we introduced a comprehensive methodology for assessing their impact and likelihood of occurring. Using this method, the risks are plotted on a matrix (4x4).

The evaluated impact on those affected ranges from “low” to “severe”. It is assessed using four evaluation criteria: scope, scale, possibility for remedial action, and company involvement.
Probability of occurrence ranges from “unlikely” to “almost certain”. It is assessed using three different evaluation criteria: process evaluation, evaluation of similar cases which have already arisen, and context factors which could increase the likelihood of the risks materializing.

Results of the risk analysis

We carry out a regular risk analysis of human rights topics for both our own businesses and our supply chains in accordance with the specific requirements of applicable international and national laws and regulations. As part of this risk analysis, we identify areas that we consider to have high priority due to the potential severity of possible violations and due to our ability to influence them.

Prioritized risk areas for own operations

The risk analysis for the 2024 reporting year confirmed the following existing prioritized risk areas for our own operations and revealed additional potential risks:

Discrimination and unequal treatment
Freedom of association and collective bargaining
Occupational health and safety in the workplace

Preventive measures to mitigate risks in our own operations

As a healthcare Group, we not only bear responsibility for the well-being of our patients, but also for the health and safety of our employees. We implemented a Group Policy on Social and Labor Standards. The guideline describes our global social and labor law minimum standards. We expect our employees and managers in all business segments of the Fresenius Group to comply with this guideline without exception. Lower standards are not acceptable. Should laws or practices in countries where we operate restrict or contradict the standards set out in this policy, we will apply the policy to the extent permitted by local laws . Moreover, the Fresenius Code of Conduct stipulates that we take the necessary measures to protect our employees and prevent work-related accidents and illnesses.

Creating a safe and healthy working environment is a priority for us. When it comes to health protection, prevention is our basic principle: We therefore provide our employees with comprehensive programs to promote their health and prevent work-related illnesses. The return of employees after an illness is regulated, for example, by the company integration management system.

We have introduced numerous management systems and measures throughout the Group and adapted them to the business models of the business segments. They focus on occupational health and safety in the production area as well as occupational health management for employees in healthcare facilities or in administration.

All locations are also subject to the respective local regulations and laws. Compliance with these regulations is ensured at local level. In addition to statutory regulations, internal guidelines and directives such as management manuals and standard operating procedures also play a significant role in occupational health and safety. In addition to the Group-wide Fresenius Code of Conduct, the business segments have their own guidelines that regulate occupational health and safety, e.g. the Clinical Code of Conduct for the rehabilitation and nursing units and medical personnel in the healthcare services market segment.

The internal requirements are supplemented by corresponding internationally recognized standards for management systems such as ISO 45001 at some locations as well as other certifications in accordance with ISO or national standards. The overarching aim of the ISO 45001 management system is to continuously improve occupational health and safety management, align it with internationally recognized methods and ensure the effectiveness of existing procedures and systems. To drive this forward, we are consistently expanding the number of entities certified to this standard.

Further Information can be found in the 2024 CSRD report from page 216.

To minimize potential human rights risks connected to our business activities, we have taken further preventive and mitigating measures. These include, for example, training that we offer to our workforce. The Fresenius Group, for instance, conducts regular occupational health and safety training to prevent incidents in its fields of operation.

To sustainably promote tolerance and appreciation within our teams in the long-term and to mitigate the risk of discrimination, it furthermore is not only necessary to have a corresponding culture that is exemplified by the management bodies; employees also receive training and further education on the topic of diversity.

The elimination of discrimination is both a component of our Group-wide compliance programs and a key element of our Human Rights Program. These concepts are supplemented by suitable controls, process documentation, training concepts, awareness-raising measures, and the use of whistleblower systems. In this way, we want to ensure that discrimination, including harassment, is prevented, contained, or combated in our operational business if we become aware of violations, risks, or impacts.

Another central element is the successive roll out of a company-wide human rights training for our employees. The training aims at educating our employees on this important topic – not only about their personal human rights, but also about the contribution that everyone can make in their daily work. It further imparts knowledge about individual rights and how to deal with possible human rights violations.

In addition, we have implemented individual and local measures to provide our employees with the best possible protection within our sphere of influence. For instance, at high-risk locations, we deploy more security staff than is typically found in hospitals to better protect our employees and patients around the clock. Furthermore, a monthly committee with participants from local management and employees has been established to strengthen the dialogue.

Further details on preventive and remedial measures, as well as on appropriateness and effectiveness, are available here.

Prioritized risk areas for our value chain

The risk analysis for the 2024 reporting year confirmed the following existing prioritized risk areas for our value chain and revealed additional potential risks:

Remuneration and appropriate compensation
Discrimination and unequal treatment
Environmental pollution
Freedom of association and collective bargaining
Occupational health and safety in the workplace

Preventive measures to mitigate risks across our value chain

To counter the potentially negative effects, we have initiated and implemented further preventive measures in addition to existing ones. With the risk-based implementation of human rights and environmental clauses in contracts, we also agree with suppliers on specific requirements for cooperation and information obligations in the event of human rights violations.

Our Code of Conduct for Business Partners also sets out fundamental expectations regarding respect for human rights. To monitor compliance with these principles and use the results to provide industry-wide support, Fresenius Kabi, for example, prepared to join the Pharmaceutical Supply Chain Initiative (PSCI) as an associate member in the reporting year (2024). In the future, the company will participate in the industry-wide audit pooling and thus contribute to greater transparency regarding working conditions and – where necessary – corresponding corrective or remedial measures in the pharmaceutical supply chain.

“Our membership in the Pharmaceutical Supply Chain Initiative reflects our commitment to shared responsibility, ethical sourcing, and collaboration — all essential to driving respect for human rights across our value chain.”

Marco Kraemer, Director Supplier Quality Management & Human Rights Function, Fresenius Kabi

To further increase transparency in our upstream and downstream processes, we also plan to further expand the existing descriptions and visualizations of our value chains and carry out focus risk analyses on this basis. Further details on preventive and remedial measures, as well as on appropriateness and effectiveness, are available here.

Human Rights at Fresenius

Our Human Rights Program

Further Information

Group-wide Governance & Responsibilities Preventive & Remedial Action Grievance Procedure & Handling

Contact

Fresenius SE & Co. KGaA
Else-Kröner-Str. 1
61352 Bad Homburg
Germany

humanrights@fresenius.com

Human Rights Program

Our Human Rights Program Group-wide Governance & Responsibilities Preventive & Remedial Action Grievance Procedure & Handling

Whistleblowing system

Reports on possible human rights or other types of compliance violations can be reported around the clock, either anonymously or by name, via our whistleblower system*:

Phone number: +49 (0) 800 181 1338*
https://freseniusgroup.ethicspoint.com

More infos about our grievance mechanism

*The prices of your mobile or landline contract apply

Contact

Senior Vice President Investor Relations
Head of Investor Relations
T: +49 (0) 6172 608-97033
nick.stone@fresenius.com

Documents

Text as PDF document (PDF, 100 KB)

S&P Global Ratings (S&P), a globally recognized credit rating agency today revised its credit outlook for Fresenius SE from stable to positive. The rating was affirmed at BBB. As part of its evaluation, S&P acknowledged the significant progress highlighting Fresenius’ strong operating performance, particularly within its growth vectors, ongoing cost base improvements, as well as a further reduction in the Company’s leverage. S&P also highlighted the sharpened and simplified portfolio, underscoring the Company’s resilience in the current operating environment.

“The revised outlook is another proof point that #FutureFresenius is paying off. It confirms our focus on long-term profitable growth and balance sheet strength, while at the same time preparing the business for future growth. Based on the strength of our operating businesses and the strong cash flow generation, we have significantly deleveraged the Company over the past years and expect to stay well within our self-imposed target leverage range,” says Fresenius CFO Sara Hennicken.

Fresenius is rated investment grade by the three leading credit rating agencies S&P Global Ratings (BBB/positive), Moody’s (Baa3/stable) and Fitch (BBB-/stable). The company is committed to its investment grade rating and to its self-imposed target leverage range of 2.5 to 3.0x net debt/EBITDA¹, which forms part of its capital allocation framework.

1 At average exchange rates for both net debt and EBITDA; pro forma closed acquisitions/divestitures; before special items; including lease liabilities and Fresenius Medical Care dividend, net debt adjusted for the valuation effect of the exchangeable bond

^{This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, the availability of financing and unforeseen impacts of international conflicts. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.}

^{Fresenius SE & Co. KGaA Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11852}
^{Chairman of the Supervisory Board: Wolfgang Kirsch}

^{General Partner: Fresenius Management SE}
^{Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11673 Management Board: Michael Sen (Chairman), Pierluigi Antonelli, Sara Hennicken, Robert Möller, Dr. Michael Moser}
^{Chairman of the Supervisory Board: Wolfgang Kirsch}

Contact

T +49 (0)175 962 77 51
friederike.segeberg@fresenius.com

Documents

Text as PDF document (PDF, 100 KB)

^{Fresenius SE & Co. KGaA Registered Office: Bad Homburg, Germany / Commercial Register: Amtsgericht Bad Homburg, HRB 11852}
^{Chairman of the Supervisory Board: Wolfgang Kirsch}

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FRESENIUS SE & CO. KGaA

Resolutions of the 2026 Annual General Meeting

Here you will find the resolutions of the 2026 Fresenius Annual General Meeting.

More details

Acting together for sustainable impact: Sustainability Highlights Magazine Vol. 3 is online!

Discover how Fresenius embeds sustainability into its core business and steers impact across clear focus topics – driven by shared responsibility and long‑term value creation.

Sustainability Highlights Magazine Vol. 3

How Fresenius turns science into better patient care

Explore how Fresenius leverages scientific innovation, collaboration, and evidence-based medicine to improve patient care. Discover inspiring patient stories and research projects from our business segments.

Read the story

More time for patients thanks to AI in the consulting room

With Scribe, our Quirónsalud hospitals are revolutionizing the Spanish healthcare system. The Ai-powered application enhances efficiency and quality while also strengthening the doctor–patient relationship – for more humanity in medicine.

Read the story

Fresenius Kabi

Products for critically and chronically ill patients

Fresenius Helios

Europe's leading private healthcare provider

News

Fresenius announces European launch of Pedismof® range

Fresenius announces European launch of Pedismof® range

New ready-to-use three-chamber bag parenteral nutrition solution strengthens Fresenius’ global clinical nutrition portfolio and reflect its commitment to patient centric innovation.

June 08, 2026 · Fresenius Kabi
Fresenius Opens Innovation Center for Medical Nutrition in Bad Homburg

Fresenius Opens Innovation Center for Medical Nutrition in Bad Homburg

Fresenius today officially opened its new Innovation Center in Bad Homburg, Germany, marking a major milestone in strengthening research, development, and innovation in medical nutrition.

June 02, 2026 · Fresenius Kabi
Brief News

AI assistant enhances access to Investor Relations information

Today, Fresenius has launched the AI-powered assistant – “AskFRE” – on its Investor Relations (IR) website, marking an important step in advancing its digital capital markets communications. The solution is a joint initiative of the Fresenius AI Center of Excellence and the Investor Relations team.With AskFRE, visitors can now interact with an integrated AI chatbot that provides direct answers to capital market-relevant information. This includes financial results, company updates and other IR content – based exclusively on publicly available Fresenius disclosures.In an increasingly fast-paced and data-driven environment, digital investor relations play a key role in delivering timely, transparent and stakeholder-focused communication. AskFRE supports this ambition by enabling more intuitive access to financial information and tailored user interactions, while reinforcing the consistency and accessibility of Fresenius’ disclosures.With AskFRE, Fresenius underscores its commitment to advancing a best in class digital investor relations experience.AskFRE is now available: https://www.fresenius.com/AskFRE-Your-IR-Assistant

May 26, 2026 · Fresenius

2026 Annual General Meeting of Fresenius: Shareholders approve all agenda items

2026 Annual General Meeting of Fresenius: Shareholders approve all agenda items

May 22, 2026 · Fresenius
2026 Annual General Meeting: Fresenius delivers strong performance in 2025 and proposes 5% increase in dividends

2026 Annual General Meeting: Fresenius delivers strong performance in 2025 and proposes 5% increase in dividends

Michael Sen, CEO of Fresenius, emphasized: “In the past financial year, we showed that Fresenius can deliver a strong performance even in an environment where volatility has become the norm.”

May 22, 2026 · Fresenius
#FutureFresenius: REJUVENATE in action – Excellent start to the year - demonstrating continued strength and resilient performance; Guidance reconfirmed

#FutureFresenius: REJUVENATE in action – Excellent start to the year - demonstrating continued strength and resilient performance; Guidance reconfirmed

Michael Sen, CEO of Fresenius: "Fresenius made an excellent start to 2026, delivering performance fully in line with our expectations and leading us to reconfirm our full‑year guidance.

May 06, 2026 · Fresenius
Fresenius invests in Avelios Medical and further expands its strategic partnership with SAP

Fresenius invests in Avelios Medical and further expands its strategic partnership with SAP

Fresenius, together with SAP, is investing in Avelios Medical, a company developing a next-generation, cloud-native hospital information system.

May 06, 2026 · Fresenius
#FutureFresenius is paying off: S&P Global Ratings revises outlook for Fresenius SE from stable to positive

#FutureFresenius is paying off: S&P Global Ratings revises outlook for Fresenius SE from stable to positive

S&P Global Ratings (S&P), a globally recognized credit rating agency today revised its credit outlook for Fresenius SE from stable to positive.

April 08, 2026 · Fresenius
Brief News

Fresenius publishes 2025 Annual Report – REJUVENATE: Delivering accelerated performance for long-term value creation

Today, Fresenius published its 2025 Annual Report. As announced in late February 2026, 2025 marked another strong year of performance and the launch of the current phase of the #FutureFresenius strategy: Rejuvenate. Despite headwinds, the healthcare group achieved its outlook, which was raised twice during the year. Group revenue before special items rose to €22.6 billion, with organic growth of 7%, while constant currency Core EPS (excluding FMC) increased by 12%. “Over the past three years, we have successfully implemented our #FutureFresenius strategy and created a new Fresenius that is innovative, relevant, resilient, and adaptable. At the same time, we have significantly bolstered our company’s economic strength. We aim to build on this strong foundation,” said Michael Sen, Chairman of the Management Board of Fresenius. The 2025 Annual Report demonstrates how Fresenius is creating sustainable value for all stakeholders by executing its #FutureFresenius strategy. It includes the Sustainability Statement in accordance with the European Sustainability Reporting Standards (ESRS), and is available as a PDF and as an interactive online version in German and English. The online report features additional business stories and includes a video statement from CEO Michael Sen.

March 25, 2026 · Fresenius

#FutureFresenius: REJUVENATE in action – Delivering accelerated performance for long-term value creation; 2025 yet another year of strong delivery

#FutureFresenius: REJUVENATE in action – Delivering accelerated performance for long-term value creation; 2025 yet another year of strong delivery

February 25, 2026 · Fresenius
Fresenius Supervisory Board extends ahead of schedule CEO Michael Sen’s contract by five years --- Christian Pawlu to join Management Board for Fresenius Helios effective July 1, 2026

Fresenius Supervisory Board extends ahead of schedule CEO Michael Sen’s contract by five years --- Christian Pawlu to join Management Board for Fresenius Helios effective July 1, 2026

The Fresenius Supervisory Board has unanimously extended ahead of schedule the mandate of CEO Michael Sen (57) by five years. This will help to ensure continuity in the company’s leadership for the next phase in its #FutureFresenius strategy. His contract will now run until 2031.Wolfgang Kirsch, Chair of the Supervisory Board of Fresenius, said: “Michael Sen has been instrumental in driving the company’s development with #FutureFresenius in the past three years. Today, Fresenius is more innovative and relevant – well positioned to leverage the significant opportunities in the healthcare industry. Michael Sen and his team have placed Fresenius on a growth path offering long-term profitability that benefits all stakeholders. We want to maintain this continuity. Both the Supervisory Board and I personally look forward to continuing our collaboration in the coming years.”“I would like to thank the Supervisory Board for its trust and look forward to continuing to work with all Supervisory Board members, my management team, and our outstanding employees as well as our customers, partners, and shareholders. Over the past few years, we have made the company more innovative while remaining focused on delivering profitable growth. Today, Fresenius is more relevant than ever before. We want to continue this success story. In times of fundamental change shaped by rapid advances in new technologies such as AI and a transactional world order, we bear even greater responsibility as a leading global healthcare company. Now more than ever, our goal is to provide high-quality, reliable healthcare while making healthcare systems even more efficient and resilient,” adds Michael Sen, CEO of Fresenius.Dr. Christian Pawlu succeeds Robert MöllerThe Fresenius Supervisory Board has also unanimously appointed Dr. Christian Pawlu (48) to the Fresenius Management Board, effective July 1, 2026. He will oversee the businesses of Fresenius Helios, which includes the two private hospital chains, Quirónsalud in Spain and Helios Kliniken in Germany. He will succeed Robert Möller (59) on the Management Board, who will establish the company’s Office of the Management in Berlin and Brussels.“On behalf of the Supervisory Board, I would like to sincerely thank Robert Möller for the excellent cooperation and successful leadership of Fresenius Helios in recent years. Through the formation of medical clusters and the focus on digitalization and excellent patient care, the two hospital chains are excellently positioned in Germany and Spain. I am therefore delighted that Robert Möller will continue to contribute his expertise to the company,” says Wolfgang Kirsch. He adds: “With Christian Pawlu, we have been able to acquire a physician and strategist with a broad international network for the Group’s Management Board. I am especially pleased that we could find an outstanding internal candidate who has already contributed significantly to the hospital business as Chief Operating Officer of Fresenius Helios. I wish Christian Pawlu a strong start in his new role.”Michael Sen (57) has been CEO of Fresenius since October 1, 2022. He is also Chairman of the Supervisory Board of the listed dialysis provider Fresenius Medical Care. In April 2021, Michael Sen was appointed CEO of Fresenius Kabi. Before joining Fresenius, he was a member of the Management Board at Siemens AG, responsible for the healthcare and energy business. He took Siemens Healthineers public during this time. Prior to this, he was Chief Financial Officer at the energy group E.ON SE.Dr. Christian Pawlu has been Chief Operating Officer (COO) of Helios in Germany since March 2025, and in September 2025 expanded his responsibilities as COO of Fresenius Helios including Helios in Germany and Quirónsalud in Spain. Prior to this, he served as Head of Corporate Development at Fresenius after joining Fresenius Kabi in Bad Homburg as Head of Corporate Development in April 2021. From 2022 to 2025, he was a member of the Supervisory Board of the Fresenius subsidiary mAbxience, based in Spain. In his early career, Christian Pawlu was a member of Sandoz Group AG’s Executive Board, CEO of a private high-tech start-up, and a partner at McKinsey & Company management consultancy.

February 25, 2026 · Fresenius
Brief News

Fresenius and Phlow Partner to Strengthen U.S. Supply of Essential Medicine

Fresenius Kabi, an operating company of Fresenius, has entered a first-of-its-kind partnership with U.S. manufacturer Phlow Corp. to establish a fully domestic, end-to-end supply chain for Epinephrine Injection, USP — an FDA designated essential medicine frequently at risk of shortage in the United States. Under the collaboration, Phlow will produce the U.S.-based API, while Fresenius Kabi manufactures the finished doses for hospitals and clinics across the country. With this initiative, Fresenius advances its local-for-local manufacturing strategy and supports national efforts to strengthen pharmaceutical security. The partnership reinforces the ambitions of #FutureFresenius as it expands Fresenius’ role as a leading global provider of lifesaving therapies, advancing resilient manufacturing that improves patient care and health-system stability. Pending regulatory approvals, epinephrine produced through this collaboration could be available to U.S. hospitals in 2027.

February 09, 2026 · Fresenius Kabi

AI in Healthcare: SAP and Fresenius Accelerate Digital Healthcare Delivery

AI in Healthcare: SAP and Fresenius Accelerate Digital Healthcare Delivery

January 19, 2026 · Fresenius
Brief News

Fresenius advances scalable cell therapy manufacturing with strategic-development agreement

Fresenius has entered into a strategic development agreement with TQ Therapeutics to support the scalable and efficient manufacturing of cell and gene therapies, strengthening its role in advancing next generation treatments. Under the agreement, operating company Fresenius Kabi receives an exclusive license to integrate TQ Therapeutics’ proprietary cell selection technology into its Cue® Cell Processing System. The combined solution aims to isolate high purity T cells in less than two hours, helping therapy developers streamline processes and accelerate development. The collaboration is in line with Fresenius’ #FutureFresenius strategy to focus on high value healthcare platforms, strengthen core technologies, and improve patient access through operational excellence and innovation. By enabling more automated, robust, and scalable cell therapy manufacturing, Fresenius Kabi and TQ Therapeutics aim to support the broader adoption of cell and gene therapies, including applications closer to the point of care.

January 14, 2026 · Fresenius Kabi

Brief News

Sale of Austrian project business and spa operations to PORR approved

The sale of the Austrian project business and spa operations of VAMED Vitality World to PORR, announced by Fresenius in October 2025, has received the necessary approvals and will be completed on December 31, 2025.

December 23, 2025 · Fresenius
Brief News

Fresenius strengthens biomanufacturing capabilities through AI collaboration

mAbxience, a Fresenius entity, has entered into a collaboration with HP Inc. to develop an artificial intelligence (AI) solution aimed at making biomanufacturing more efficient and reliable.The joint project uses AI and digital-twin technology to model and optimize key steps in the production of monoclonal antibodies and biosimilars. By simulating critical cell-culture parameters and predicting process outcomes, the system is designed to support more consistent yields, faster development cycles, and better control of large-scale manufacturing environments. This is a showcase of Fresenius’ pathway in leveraging AI and digital solutions, from production and supply-chain to care delivery, improving treatment quality, and expanding access to state-of-the-art therapies. Both partners view the technology as a significant step toward more data-driven and tightly managed bioproduction. The prototype, developed with real manufacturing data and validated in an industrial setting, enables teams to test scenarios virtually before applying them on the shop floor.This initiative is the first project under a broader strategic framework between HP and mAbxience at its manufacturing facility in Leon, Spain, and has the potential to be rolled out across additional sites. It represents another milestone in advancing Fresenius’ (Bio)Pharma platform and supports the goals of #FutureFresenius.Fresenius in SpainThe global healthcare company Fresenius is deeply rooted in Spain. With Quirónsalud, the country’s leading hospital operator, and Fresenius Kabi, offering essential medicines and technologies for critically and chronically ill patients, the company makes a decisive difference in the life-quality of Spanish citizens. With the majority acquisition of mAbxience in 2022, Fresenius created a dedicated and vertically integrated biosimilars development and manufacturing platform. In line with its #FutureFresenius strategy, the company is further scaling in (Bio)Pharma to deliver simplification and drive efficiencies, underscoring its commitment to offering accessible, innovative, and high-quality healthcare solutions.

December 04, 2025 · Fresenius Kabi

Brief News

Fresenius Launches Denosumab Biosimilars in EU

Fresenius announced today the launch of its denosumab biosimilars, Conexxence®1 (denosumab) and Bomyntra®2 (denosumab), in Europe. These biosimilars received approval from the European Commission in July 2025 for all indications of the reference products Prolia®3 (denosumab) and Xgeva®4 (denosumab), respectively. “Being the first biosimilar company with a pre-filled syringe for the denosumab oncology indication in Europe, showcases our commitment to offering new treatment options that support patient care and affordability across Europe,” said Dr. Sang Jin Pak, President Biopharma. This milestone marks the next step in the company’s ambition to drive accessibility to high-quality biosimilar therapies, with multiple molecules in early and late-stage development. By continuing its successful track record in the biosimilars space, Fresenius further strengthens its (Bio)Pharma platform, a key pillar of the #FutureFresenius strategy. 1. Conexxence® is a registered trademark of Fresenius Kabi Deutschland GmbH in selected countries. 2. Bomyntra® is a registered trademark of Fresenius Kabi Deutschland GmbH in selected countries. 3. Prolia® is a registered trademarks of Amgen Inc. 4. Xgeva® is a registered trademarks of Amgen Inc.

December 01, 2025 · Fresenius Kabi
Katrin Kerner and Christian Wagner to lead Group Communications at Fresenius

Katrin Kerner and Christian Wagner to lead Group Communications at Fresenius

Effective immediately, Katrin Kerner (44) and Christian Wagner (39) will assume joint leadership of Group Communications at Fresenius. Both will assume the role on an interim basis and in addition to their current responsibilities as Head of CEO Relations and Head of Board Office. They will report directly to Fresenius CEO Michael Sen and succeed Anke Schmidt, who has led the communications function since June 2025 and has decided to leave the company at her own request.“On behalf of the Management Board, I would like to express my sincere thanks to Anke Schmidt for her work and commitment. She has made an important contribution in a short period of time. We wish her all the best for her future endeavors”, says Michael Sen, CEO of Fresenius. “I am very pleased that Katrin Kerner and Christian Wagner will jointly assume this responsibility as a leadership team. Both have a deep understanding of the healthcare industry and are already actively shaping the strategic and cultural transformation of our company through #FutureFresenius. With their extensive experience in communications, finance, and corporate transformations at DAX-listed companies, they will further develop the communications function at Fresenius and continue to strengthen our brand.”Katrin Kerner has been with Fresenius since 2023 and has served as Head of CEO Relations since 2024. In this role, she prepares CEO briefings, coordinates strategic company positions, and manages global partnerships. Before joining Fresenius, she held several leadership positions in communications functions at Siemens, Siemens Healthcare (today Siemens Healthineers), and Siemens Energy, including Head of Employee Communications at Siemens and Head of Executive Messages at Siemens Energy. During this time, she was actively involved in the IPO of Siemens Healthineers and the spin-off of Siemens Energy. Katrin Kerner studied Economics at the Friedrich-Alexander University Erlangen-Nürnberg and International Management at the Turku School of Economics in Finland.Christian Wagner joined Fresenius in 2017, became Head of Corporate Finance in 2019, and has served as Head of Board Office since 2023. In this function, he plays a key role in steering and advancing Fresenius’s strategic direction. He is also responsible for Corporate Security. Before joining Fresenius, Christian Wagner worked in investment banking at Berenberg and at a subsidiary of Deutsche Bahn. He studied Finance at Goethe University Frankfurt and the Institut Supérieur du Commerce (ISC) in Paris, France.

November 14, 2025 · Fresenius