Roche: Oppenheimer 23rd Annual Healthcare Conference Thomas Kudsk Larsen, Head of Investor Relations North America, New York, 12 December 2012 Forward-looking statements

This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, strategy, goals, plans or intentions. Various factors may cause actual results to differ materially in the future from those reflected in forward-looking statements contained in this presentation, among others: 1. pricing and product initiatives of competitors; 2. legislative and regulatory developments and economic conditions; 3. delay or inability in obtaining regulatory approvals or bringing products to market; 4. fluctuations in currency exchange rates and general financial market conditions; 5. uncertainties in the discovery, development or marketing of new products or new uses of existing products, including without limitation negative results of clinical trials or research projects, unexpected side-effects of pipeline or marketed products; 6. increased government pricing pressures; 7. interruptions in production; 8. loss of or inability to obtain adequate protection for intellectual property rights; 9. Litigation; 10. loss of key executives or other employees; and 11. adverse publicity and news coverage. Any statements regarding earnings per share growth is not a profit forecast and should not be interpreted to mean that Roche’s earnings or earnings per share for this year or any subsequent period will necessarily match or exceed the historical published earnings or earnings per share of Roche. For marketed products discussed in this presentation, please see full prescribing information on our website2 www.roche.com. All mentioned trademarks are legally protected. Current performance

Strategic positioning

Summary; questions YTD Sept 2012: Highlights Strong sales growth

Sales on track for full year target • Pharma, Diagnostics and Group: +4%1 Pipeline newsflow supporting long-term growth • T-DM1 shows OS benefit (EMILIA); filed in US and EU • MEKi in combination with Zelboraf to start phIII • Aleglitazar clinical program to be expanded (AlePrevent and AleGlucose) • On track to deliver LIP targets for 2012 Outlook confirmed • Low to mid single-digit sales growth1 for Pharma and the Group, above market growth for Diagnostics • Core EPS growth target ‘high single-digit’1 • Attractive dividend policy

4 1 at Constant Exchange Rates YTD Sept 2012: Group sales Supporting full-year target

2012 2011 change in % CHF bn CHF bn CHF CER

Pharmaceuticals Division 26.2 24.4 +7 +4

Diagnostics Division 7.5 7.1 +6 +4

Roche Group 33.7 31.5 +7 +4

5 CER=Constant Exchange Rates Group sales growth1 Improving performance

8%

6% 6%

4% 4% 4% 2% 2% 1% 0% 0% 0% -2% -3% -4% -5% -6% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 '10 '10 '11 '11 '11 '11 '12 '12 '12

6 1 at CER=Constant Exchange Rates Regional performance: US and Emerging markets strongly contribute to sales growth

Asia- Asia 16% China driving growth in both divisions 14% Pacific

Latin 12% Latin Strong demand in major markets America America 14%

CEMAI 12% Pharma: driven by Middle East and N. Africa

North Pharma: strong growth for strategic products US 6% 2% America Dia: strong growth in IVD lab business

Japan 1% Japan 7% Recovery after earthquake; biennial price cuts

Pharma: impact of generic products WE-2% EMEA -1% Dia: price pressure in Diabetes Care

Pharma Diagnostics

7 CER (Constant Exchange Rates) growth rates CEMAI=Central & Eastern Europe, Central Asia, Middle East, Africa and Indian subcontinent; EMEA: Europe, Middle East and Africa. Accounts receivable in Southern Europe Reduction of 22% vs. Dec 2011 due to Spain, Italy and Portugal

Sep 2012 211 Greece Dec 2011 CCC 194

152 Portugal BB 172

704 Italy 805 BBB+

506 Spain

BBB+ 850 -22% Southern European 1,573 Countries 2,021

0 500 1'000 1'500 2'000 2'500 EUR m 8 Sovereign country ratings from Standard & Poor’s, as of 5 October 2012 Increase in operating profit & margin

Group core operating profit (CHF bn) and margin 38.5%

37.2% 38.1% 34.7% 35.0% +7% at CER

8.64 9.16 8.40 8.25 7.63

HY 2008 HY 2009 HY 2010 HY 2011 HY 2012 9 CER=Constant Exchange Rates HY 2012: +8% Core EPS growth1

+8% at CER

CHF 6.94 6.95 6.68 6.36 5.75

HY 2008 HY 2009 HY 2010 HY 2011 HY 2012 10 1 CER=Constant Exchange Rates Outlook for 2012 confirmed

Sales growth (CER) Group & Pharma: low to mid single-digit Diagnostics: above market

Operational Excellence savings 2012+: CHF 2.4 bn*

Core EPS growth target High single-digit (CER)

Dividend outlook Continue attractive dividend policy

11 Barring unforeseen events; CER=Constant Exchange Rates; * vs. 2011: CHF 1.8 bn Current performance

Strategic positioning

Summary; questions Roche strategy: Focused on medically differentiated therapies

Regulators: Pharma Dia Optimised benefit / risk ratio Payors: Focus Optimised benefit / cost ratio

MedTech

Premium for innovation OTC Generics

Differentiation

13 Implications of R&D productivity challenge Segregation will continue as only true innovation will be rewarded

High differentiation

True innovators

‘Me-too’ players ??

Generics Medical differentiation No / limited differentiation low high

low Willingness to pay for added value high 14 Roche Diagnostics enables PHC Accelerating Companion Diagnostics (CDx) projects

15 compounds with CDx in Ph 2 & 3

Collaborations within Roche Group1 >200 169

101 70

38 25 10

2005 2006 2007 2008 2009 2010 2011

15 1 Including R&D collaborations and CDx projects Importance of Personalised Healthcare Majority of our pipeline with Companion Diagnostics

EGFR ADCC Zelboraf MEK 0973* Mab (GA 201) Bcl-2-sel inh onartuzumab Perjeta bitopertin (MetMAb) danoprevir obinutuzumab Erivedge T-DM1 (GA101) aleglitazar mericitabine anti-PCSK9

2011 2012 2013 2014 2015 2016 Post 2016

Late Stage Pipeline: 11 out of 18 compounds are targeted therapies for selected patients

16

*MEK considered as PHC in combination with Zelboraf for metastatic melanoma Expanding into selected therapeutic franchises

LIP candidates 2012 target: 3 out of 5

Larger (> 1 bn)

Smaller (up to ~1 bn) GA101 Perjeta T-DM1 bitopertin aleglitazar danoprevir MEK 0973 etrolizumab anti-PCSK9 ocrelizumab mericitabine lebrikizumab onartuzumab rontalizumab Bcl-2-sel inh Potential Filing 2012 2013 2014 2015 2016/17 2017 onwards Year

Oncology Neuroscience Metabolism Virology Immunology 17 Non risk-adjusted Late stage pipeline Potential phase II / LIP read outs

Number of NMEs Oncology

Neuroscience 10 Metabolism setrobuvir Virology mGluR2 antagonist Immunology mGluR5 antagonist Ophthalmology crenezumab

5 gantenerumab

anti-PCSK9 anti factor D

rontalizumab anti-EGFL7

etrolizumab EGFR ADCC Mab (GA201)

MEK 0973 PI3 kinase inhibitor

Bcl-2-sel inhibitor Dual PI3k/ mTor inh. 2012 2013

18 LIP=Lifecycle Investment Point International region overview

Eastern Europe & Middle East

Asia Pacific Africa

Latin America

Market drivers Market barriers • Increasing investment in healthcare • Pricing pressure and controls • Life style changes and the emergence of • High out of pocket costs “western” diseases • Delays in registration and • Emergence of alternative funding models reimbursement in some markets 19 International region Increasing importance for Roche

International region as proportion of total Pharma sales

28% 27% 27%

26%

25%

24%

23%

22% HY '08 FY '08 HY '09 FY '09 HY '10 FY '10 HY '11 FY '11 HY '12

20 E7 countries Strong growth in key emerging markets

1000

+79% India 800 -6% Russia +54% Korea +14% Turkey

600 -3% Mexico

400 +37% China

200 +25% Brazil

0 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1 '12 Q2 '12

21 1 CER=Constant Exchange Rates; absolute values in CHF m at average 2011 exchange rates The P&L reflects Roche’s innovation based strategy Low on Marketing, General and Administration

R&D % sales Core operating profit margin Eli Lilly 21% % sales Amgen 20% Roche 19% Pfizer 43% BMS 18% Merck 17% Astra 39% Novartis 16% Astra 15% Amgen 37% Sanofi 14% GSK 14% Roche 36% Pfizer 13% Abbott 10% Sanofi 34% Bayer 8% Merck 34% M&D+G&A % sales Eli Lilly 33% BMS 33% Novartis 32% Pfizer 29% GSK 31% Bayer 29% Merck 29% Novartis 27% GSK 29% Astra 28% Eli Lilly 27% Abbott 26% BMS 24% Abbott 23% Sanofi 24% Roche 23% Bayer 17% Amgen 18%

22 Source: Company reports, Roche analysis; Figures based on fiscal year 2011 financials High operating free cash flow and margin

Group operating free cash flow (CHF bn) and margin

31.6% 32.0% 28.2% 26.1% +7% at CER 21.8% 7.17

6.78 6.86 6.43

4.81

HY 2008 HY 2009 HY 2010 HY 2011 HY 2012

23 CER=Constant Exchange Rates Aiming for a sustainable net debt leverage of 0-15%

S&P rating

AAA J&J AA+ Pfizer Merck Roche AA Takeda Abbott AZ AA- Sanofi Eli Lilly Novartis 2011 2010 A+ BMS (25%) (31%) Amgen Becton D GSK A A- Gilead Bayer BBB+ Biogen BBB BBB- BB+ -35 -30 -25 -20 -15 -10 -5 0 5 10 15 20 25 30 35 Leverage1 (%)

24 1 Net Debt / Total Assets (%); 2011 figures for all companies except Roche; Company reports; Bloomberg (June 14; 2012) Continuous increase in dividends and pay-out ratio historically

Dividend per 2011 Dividend share (CHF) Payout ratio yield (%) 8 of 55.3% 6%

6.80 6.60 5% 6.00 6

5.00 4% 4.60

4 3% 3.40

2.50 2% 2.00 2 1.65 1.45 1.30 1.15 1.00 1% 0.75 0.83 0.87 0.55 0.64 0.37 0.48 0.18 0.20 0.28 0 0% '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11

25 Pay-out ratio calculated as dividend per share divided by core earnings per share (diluted) Current performance

Strategic positioning

Summary; questions Roche in brief Innovation & productivity

• Focused innovation strategy – Personalized Healthcare through Pharmaceuticals & Diagnostics – Medically-differentiated products & services • Leading businesses – Biotech-based leadership in Oncology, Infectious disease; emerging Immunology, Cardio-metabolic and Neuroscience franchises. Limited patent risk – World’s #1 in-vitro Diagnostics company • Strong financials – Increasing profitability through growth & productivity with constant focus on cash flow – Attractive dividend

27 We Innovate Healthcare Geographical sales split by divisions and Group*

CHF m YTD Sept 2011 YTD Sept 2012 % change CER Pharmaceutical Division 24,397 26,198 +4 United States 9,104 10,270 +6 Western Europe 6,210 5,954 -2 Japan 2,712 2,966 +1 International 6,371 7,008 +9 Diagnostics Division 7,095 7,496 +4 United States 1,549 1,713 +3 Western Europe 2,758 2,640 -3 Japan 375 434 +7 International 2,413 2,709 +11 Group 31,492 33,694 +4 United States 10,653 11,983 +5 Western Europe 8,968 8,594 -3 Japan 3,087 3,400 +2 International 8,784 9,717 +10 29 * Geographical sales split shown here does not represent operational organization; CER=Constant Exchange Rates Pharma Division sales YTD Sept 2012 (vs. 2011) Top 20 products Global US WE Japan International CHF m% CER CHF m% CER CHF m% CER CHF m% CER CHF m% CER MabThera/Rituxan 4,998 10 2,348 9 1,230 6 210 10 1,210 16 Herceptin 4,432 12 1,248 11 1,482 3 244 10 1,458 24 Avastin 4,309 6 1,889 0 1,111 4 545 15 764 20 Pegasys 1,277 18 438 85 233 4 60 -20 546 2 Xeloda 1,149 10 474 18 192 -3 93 7 390 11 Lucentis 1,113 -8 1,113 -8 ------Tarceva 989 4 424 14 242 -13 82 18 241 3 CellCept 684 -14 125 -26 177 -18 55 14 327 -10 Actemra/RoActemra 601 34 171 64 192 36 144 0 94 59 Xolair 530 11 530 11 ------NeoRec./Epogin 521 -26 - - 200 -15 131 -51 190 -8 Valcyte/Cymevene 478 9 240 17 119 0 - - 119 5 Activase/TNKase 437 24 402 25 - - - - 35 12 Pulmozyme 396 7 240 8 74 -2 - - 82 11 Mircera 273 12 - - 54 -59 144 334 75 2 Bonviva/Boniva 258 -53 61 -77 84 -49 - - 113 -15 Tamiflu 241 -25 93 -49 9 -58 98 31 41 -5 Madopar 235 6 - - 67 -3 16 -9 152 12 Nutropin 231 -10 225 -10 - - - - 6 -14 Rocephin 198 -2 1 -25 32 -19 39 -12 126 9 30 CER=Constant Exchange Rates Pharma Division sales YTD Sept 2012 (vs. 2011) Recently launched products

Global US WE Japan International CHF m % CER CHF m % CER CHF m % CER CHF m % CER CHF m % CER Zelboraf 157 * 83 * 72 - - - 2 - Perjeta 26 - 26 ------Erivedge 18- 18------

31 CER=Constant Exchange Rates * over +500% Currency impact on Swiss Franc results 2012 Positive impact in Q3/4

CHF / USD

average YTD 2011 Assumed average YTD 2012 -2% +2% +7% +6% Assuming the 28 Sept 2012 exchange rates remain stable until end of 2012, 2012 impact is expected to be (%p):

Monthly avg fx rates 2012 Fx rate at 28 Sep 2012 Q1 HY Sep FY YTD

CHF / EUR Sales -3 -1 +3 +3 Core operating -2 +2 profit -6% -5% Core EPS -4 +1 -3% -2%

32 Roche development pipeline Projects in phase 1 Phase I (36 NMEs+2 AIs) Oncology Other disease areas RG7112 MDM2 ant solid & hem tumors RG7624 IL-17 MAb autoimmune diseases RG7116 HER3 MAb solid tumors CHU IL-6R MAb RA RG7155 CSF-1R MAb solid tumors CHU CIM331 atopic dermatitis RG7167 CIF/MEK inh solid tumors RG7795 TLR7 agonist HBV RG7204 Zelboraf + met. melanoma RG7667 - infectious diseases RG7212 Tweak MAb oncology RG7697 GIP/GLP-1 dual ago type 2 diabetes RG7304 Raf & MEK dual inh solid tumors RG1662 GABRA5 NAM cogn. disorders RG7356 CD44 MAb solid tumors RG7314 V1 receptor antag autism RG7420 MEK inh solid tumors RG7129 BACE1 inh Alzheimer’s RG7421 MEK inh solid tumors RG3645 Lucentis sust. deliv. AMD/RVO/DME RG7388 MDM2 ant solid & hem tumors CHU ACE910 hemophilia A RG7440 AKT inhibitor solid tumors RG7446 PD-L1 MAb solid tumors RG7450 Steap 1 ADC prostate ca. RG7458 ADC ovarian ca. RG7598 ADC multiple myeloma RG7599 ADC oncology RG7600 ADC oncology RG7601 Bcl-2 inh CLL and NHL New Molecular Entity (NME) RG7602 ChK1 inh solid tum & lymphoma Additional Indication (AI) RG7604 PI3K inh solid tumors RG7636 ADC metastatic melanoma Oncology RG7666 PI3k inh glioblastoma 2L Immunology RG7741 ChK1 inh(2) solid tumors Virology CHU ALK inhibitor NSCLC CardioMetabolism Neuroscience CHU PI3K inh solid tumors Ophthalmology CHU WT-1 peptide cancer vaccine Others

RG-No Roche managed CHU Chugai managed

33 Status as of September 30, 2012 Roche development pipeline Projects in phase 2, 3 and registration Phase II Phase III Registration (24 NMEs + 14 Als) (8 NMEs + 23 Als) (3 NMEs + 8 Als) RG1273 Perjeta HER2+ mBC 2nd line RG105 MabThera NHL sc formulation RG105 Rituxan NHL fast infusion RG1273 Perjeta HER2+ gastric cancer RG435 Avastin HER2+ BC adj RG4351 Avastin relapsed ovarian cancer RG3502 T-DM1 HER2+ EBC RG435 Avastin HER2-neg. BC adj RG435 Avastin mCRC TML RG3502 T-DM1 gastric cancer RG435 Avastin NSCLC adj RG5971 Herceptin HER2+ BC sc form RG3616 Erivedge operable BCC RG435 Avastin high risk carcinoid RG12732 Perjeta HER2+ mBC 1st line RG3638 onartuzumab triple-neg mBC, 1st/2nd line1L/2L RG435 Avastin glioblastoma 1st line RG3502 T-DM1 HER2+ pretreated mBC RG3638 onartuzumab mCRC 1st line 1L RG435* Avastin ovarian cancer 1st line RG36162 Erivedge advanced BCC RG3638 onartuzumab NSCLC non squamous 1st l RG435 Avastin ovarian cancer platinum resist. RG1052 MabThera ANCA assoc vascul RG3638 onartuzumab NSCLC squamous 1st line RG1273 Perjeta HER2+ EBC RG1569 Actemra polyarticular JIA RG3638 onartuzumab glioblastoma 1st/2nd line RG1415* Tarceva NSCLC EGFR mut 1st line RG15691 Actemra RA DMARD IR H2H RG3638 onartuzumab gastric cancer RG1415 Tarceva NSCLC adj RG36453 Lucentis AMD 0.5 mg PRN RG7160 EGFR MAb solid tumors RG3502 T-DM1 HER2+ mBC 3rd line 1 submitted in EU RG7204 Zelboraf papillary thyroid cancer RG3502 T-DM1 HER2+ mBC 1st line RG7321 PI3K inh solid tumors RG3638 onartuzumab NSCLC 2nd/3rd line 2 approved in US, submitted in EU RG7422 PI3K/mTOR inh solid & hem tumors RG7159 obinutuzumab CLL 3 submitted in US RG7414 EGFL7 MAb solid tumors RG7159 obinutuzumab iNHL relapsed New Molecular Entity (NME) RG7593 CD22 ADC heme tumors RG7159 obinutuzumab DLBCL Additional Indication (AI) RG7596 CD79b ADC heme tumors RG7159 obinutuzumab iNHL front-line RG7597 HER3/EGFR m. epithelial tumors RG7204 Zelboraf m. melanoma adj Oncology Immunology RG7686 glypican-3 MAb liver cancer RG1569 Actemra RA sc formulation Virology RG1569 Actemra systemic sclerosis RG1569 Actemra early RA CardioMetabolism RG7413 etrolizumab RG3637 lebrikizumab severe asthma Neuroscience RG7415 rontalizumab systemic lupus erythem RG3648 Xolair chronic idiopathic urticaria Ophthalmology RG7416 (LT alpha MAb ) RA CHU Suvenyl enthesopathy RG7449 (M1 prime MAb) asthma RG1439 aleglitazar CV risk reduction in T2D RG-No Roche Genentech managed RG7128 mericitabine HCV CHU tofogliflozin (SGLT2) type 2 diabetes CHU Chugai managed RG7227 danoprevir HCV RG1594 ocrelizumab RMS SST Seaside Therapeutics RG7790 setrobuvir HCV RG1594 ocrelizumab PPMS RG105 MabThera is branded as RG1512 inclacumab (P selectin MAb) ACS/CVD Rituxan in US and Japan RG1678 bitopertin schiz neg symptoms RG7652 PCSK9 MAb metabolic diseases RG1569 Actemra is branded as RG1678 bitopertin schiz subopt control RG7418 oxLDL MAb sec prev CV events RoActemra in EU SST arbaclofen fragile X syndrome RG1450 gantenerumab Alzheimer’s RG1577 MAO-B inh Alzheimer’s * approved in the EU RG1578 mGluR2 antag depression RG7090 mGluR5 antag tx resistant depression RG7412 crenezumab Alzheimer‘s 34 SST arbaclofen autism (ASD) Status as of September 30, 2012 RG7417 anti-factor D Fab geographic atrophy We Innovate Healthcare