#1Mindray Medical International Limited Corporate Presentation August 2015 mindray#21 Disclaimer This material may contain "forward-looking statements" within the meaning of the safe harbor provisions of the U. S. Private Securities Litigation Reform Act of 1995. Statements contained herein and in our 2015 Second Quarter Results press release that are not historical facts, including, without limitation, the following statements about Mindray's anticipated net revenues, non-GAAP net income and capital expenditure for 2015, our expected lower interest income for 2015, our assumption of a corporate income tax rate of 15% applicable to the Shenzhen subsidiary, our anticipated uncertainty of interest payment from certain short-term investments (where the principal amount is guaranteed but not the interest portion) in relation to $7.6 million interest receivable provision recorded by us in this second quarter of 2015, our continued assumption of the 2015 payments related to the recently announced employee incentive and talent retention program to be distributed half in equity based compensation and half in cash, statements that the exact impact of the assumption of the 2015 payments related to the recently announced employee incentive and talent retention program will depend on the actual split between equity based compensation and cash payments, that although the near-term outlook of our overall business remains challenging amid a difficult environment, we are working diligently to strengthen our competitive position and seize business opportunities, that we will continue to invest prudently into our global sales, marketing, and distribution networks, as well as product development capabilities, that we will continue to pursue attractive M&As and other partnerships opportunities to ensure the future success of Mindray and other statements under "Business Outlook for Full Year 2015" in our 2015 Second Quarter Results press release, statements that with a growing installation base for high-speed reagent-consuming products and the cellular analysis line in the domestic market, we remain optimistic about the prospects of this business, that we continue to anticipate modest market growth for the China sales in the foreseeable future, that we also see growing competition in the domestic market from both our local and international competitors, that we expect government initiatives and policies (eg. Improving county-level hospitals, priority purchase from local manufacturers, private hospital development, etc.) to be favorable for us over the long run, that overall, we continue to expect the emerging markets to remain weak in the foreseeable future, that we are fully committed to strengthening our presence in the emerging markets to seize long-term opportunities, that we will continue to optimize our local operational infrastructures and enhance our capabilities in public and private sector participation in the emerging markets, that we anticipate our performances in the European markets to be further affected by negative FX trends as well as increasing competition from Japanese and European companies, our 2015 guidance and our plans for 2015 are forward-looking statements. Forward- looking statements represent only the company's beliefs and predictions regarding future events, many of which, by their nature, are inherently uncertain and outside of the company's control. Our actual results and financial condition and other circumstances may differ materially from the anticipated results and financial condition indicated in these forward-looking statements due to a variety of risk, uncertainties and factors, including, without limitation, competitive, pricing and other conditions in China and our international markets and our ability to effectively address or respond those conditions; our ability effectively attract and retain our key employees; the growth and expected growth of the medical device market in China and internationally; applicable government policies and regulations; our ability to satisfy the requirements imposed by relevant regulatory bodies; market acceptance of our products; our expectations regarding demand for our products; our ability to expand our production, our sales and distribution network and other aspects of our operations; our ability to stay abreast of market trends and technological advances; our ability to effectively protect our intellectual property rights and not infringe on the intellectual property rights of others; our ability to settle disputes with our customers and suppliers; and general economic and business conditions in the countries in which we operate. For a discussion of other important factors that could adversely affect our business, financial condition, results of operations and prospects, see "Risk Factors" beginning on page 6 of our annual report on Form 20-F which was filed on April 16, 2015. Our results of operations for 2015 Second Quarter are not necessarily indicative of our operating results for any future periods. The financial information contained in this presentation and its related materials should be read in conjunction with the consolidated financial statements and notes thereto included in our public filings with the Securities and Exchange Commission. Any projections in this presentation and its related materials are based on limited information currently available to us, which is subject to change. Although such projections and the factors influencing them will likely change, we will not necessarily update the information. Such information speaks only as of the date of this presentation. mindray#32 Who We Are Mindray is a leading developer, manufacturer and marketer of medical devices worldwide, creating value and driving growth through: • Meeting the needs of hospitals and health systems in various countries around the world • Constant innovation driven by a world class R&D platform and a vertically integrated business model • Leveraging its leading position in the fast-growing China market while expanding its global presence mindray#4Our Vision We will make better healthcare solutions more accessible to humanity. Our Mission Improve healthcare by optimizing and sharing medical technologies with the world.#54 Who We Are ● Established in 1991 ● Headquarters in Shenzhen, China 10 R&D centers, more than 30 subsidiaries globally Over US$1.3 billion in annual sales Over 8,200 employees globally ● Export to more than 190 countries Listed on the NYSE nindrayan Tindray mindray mindray#6A Global Player in Medical Technologies 2003 Total Revenues Emerging Markets 17% Developed Markets 8% US$ 59mm 2014 Total Revenues Emerging Markets 32% US$ 1,323mm Developed China 75% Markets Note: Emerging markets represent all countries except China and the developed markets. Developed markets represent North America and Western European countries. 5 22% China 46% mindray#7Worldwide Sales and Service Networks Vancouver Toronto Seattle Seoul Novosibirsk Moscow Amsterdam London Warszawa Paris Frankfurt Istanbul Milan Madrid Ankara Xi'an New Delhi Cairo "Chengdu Riyadh Gurgaon Mumbai Chennai O Kolkata Hanoi Beijing Nanjing Shanghai Global HQ in Shenzhen Manila Bangkok © Ho Chi Minh City Kuala Lumpur Lagos : Nairobi Jakarta O Surabaya 6 Johannesburg: Sydney R&D Center Branches and subsidiaries Melbourne Zonare Mexico City. Mahwah, NJ Miami Caracas Panama City. Medellin Santa Fe de Bogota Lima Sao Paulo Buenos Aires mindray#87 Committed to Innovation EA Talent Invest 10% of sales revenue 2,000 R&D Patents 1,300 New products 7-10 annually Master or PhD 63% NEW mindray#9Expanding Product Offerings Patient Monitoring & Life Support Products Launch Time 8 2011 Ventilator: 3B 2011 Infusion Pump & Syringe Pump: 1B 2009 Defibrillator & Surgical Equipment: 9.9B 2006 Anesthesia Machine: 1.1B 1992 Patient Monitoring: 3B Addressable Market Size (US$) Total addressable market size worldwide: ~ 18.0B Launch Time 2014 In-Vitro Diagnostic Products Flow Cytometric Analysis: 2.3B 2013 Immunoassay: 7.6B 2012 Coagulation Analysis: 1.7B 2011 Microbiology Analysis: 2.3B 2011 Urine Analysis: 1.0B 2001 Biochemistry Analysis: 7.6B 1998 Hematology Analysis: 1.9B Addressable Market Size (US$) Total addressable market size worldwide: ~22.1B Medical Imaging Systems Other Products Launch Time Launch Time 2010 Magnetic Resonance Imaging: 2.5B 2008 Digital Radiography: 2.3B 2012 2012 Endoscopes: 5.1B 2000 Ultrasound: 5.5B 2011 Addressable Market Size (US$) Total addressable market size worldwide: ~ 10.3B Orthopedics: 30B PACS: 3.5B Addressable Market Size (US$) Total addressable market size worldwide: ~38.6B Source: Internal estimates mindray#10M&A Road Map Announcement Target Datascope Corp. Shenzhen Shenke Medical Instrument Technical Development Suzhou Hyssen Electronics Product segment Time 1Q 2008 Patient Monitoring & Life Support 1Q 2011 2Q 2011 4Q 2011 In-Vitro Diagnostics 3Q 2012 Beijing Precil Instrument 1Q 2014 Shanghai Long Island Biotec. Medical Imaging Systems 2Q 2013 Others 4Q 2011 2Q 2012 Majority stake acquired in 2Q 2012 and full ownership in 3Q 2015 3Q 2012 2Q 2013 Hunan Changsha Tiandiren Biotech ZONARE Medical Systems Zhejiang Greenlander Information Technology Hangzhou Optcla Medical Instrument Wuhan Dragonbio Surgical Implant Shanghai Medical Optical Instrument Ulco Medical Products Patient monitors Infusion pumps, syringes and infusion monitoring systems Urine analyzers Microbiology analysis solutions Coagulation analyzers and related products Coagulation analysis reagents Ultrasound systems Healthcare IT solutions (PACS, RIS) Rigid endoscopes, related surgical instruments and consumables Orthopedics products (trauma, spine, joints and other surgical products) Flexible endoscopes and related surgical instruments Australia-based former distributor of Mindray 9 mindray#11Investment Highlights • A world-class organization rooted in Chinal • . China's leading domestic brand in three main product segments • Global research centers in the U.S., Europe and China · One of the most comprehensive sales, distribution and service infrastructures in China Competitive cost structure with China-based manufacturing facilities Continuous expansion and penetration into international markets • • • A high-quality brand that is appealing to value-seeking customers Ongoing sales and marketing investments in markets with promising growth prospects Long-term focus on growth, profitability and cash generation US $ mm Revenue Non-GAAP Net income Cash and cash equivalents and short-term/restricted investments • Notes: 1323 1214 1232 1060 881 863 704 634 548 1093 1. Non-GAAP figures exclude share- based compensation expenses, acquired intangible assets amortization expenses, in-progress research and development expenses, realignment costs - post acquisition, dispute charges, dispute related legal fees, income from early termination of contract, all net of related tax impact. Non-GAAP figures also exclude any tax benefit related to the Nationwide Key Software Enterprise status. 2. Restricted cash and restricted investments related to purchase consideration in connection with our acquisition being held on escrow accounts are excluded. 603 434 294 306 190 216 245 253 132 133 147 162 179 212 237 222 59 13 16 84 23 22 35 56 89 53 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 10 10 mindray#1211 Second Quarter 2015 Earnings Results mindray#132Q15 Highlights ■Net revenues reached $336.8 million, up from $334.5 million a year ago. ■China net revenues grew 0.9% year-over-year to $153.9 million, representing 45.7% of the company's total net revenues. ■International net revenues were $183.0 million, compared to $182.0 million in the second quarter of 2014. Sale in Africa achieved close to 30% year-over-year growth. Reagent net revenues increased more than 20% year-over-year. Reagents led the IVD segment growth and contributed 48.8% to the IVD segment, up from 42.9% in the same period last year. ■Launched four products during the quarter, including a mid-end biochemistry analyzer, a mid-to-low end hematology analyzer, a mid-end glycohemoglobin analyzer, and a mid-to-low-end color ultrasound. 12 mindray#14لله 13 2Q15 Domestic Market Highlights 2Q15 China sales increased 0.9% year-over-year. Overall market continued to be slow and impacted our domestic sales performance. IVD reagents rose further. With a growing installation base for high-speed reagent- consuming products, we remain optimistic about the prospects of this business. We continue to anticipate modest market growth in the foreseeable future. Meanwhile, we also see growing competition in the domestic market from both our local and international competitors. We expect government initiatives and policies (eg. Improving county-level hospitals, priority purchase from local manufacturers, private hospital development, etc.) to be favorable for us over the long run. mindray#152Q15 Emerging Markets Highlights Sales in the emerging markets decreased by a low-single-digit percentage year-over-year. ■Africa represented the highest-growth region delivering almost 30% year-over-year sales growth, due to a large government project as well as our continued investments. ■In Asia Pacific, we achieved decent performance in India with high-teens sales growth thanks to our localization efforts. In Eastern Europe, we recorded a low-teen sales increase. Poland was again the best performer. In the Middle East, we recorded a low single-digit decline in sales. IIn Latin America and the CIS region, as we anticipated, we encountered persistent currency, political and economic headwinds. Overall, we continue to expect the emerging markets to remain weak in the foreseeable future. However, we are fully committed to strengthening our presence in these regions to seize long-term opportunities. We will continue to optimize our local operational infrastructures and enhance our capabilities in public and private sector participation. 14 mindray#162Q15 Developed Markets Highlights Developed markets grew by a high-single-digit percentage year-over-year. In Western Europe, sales increased by a low-single-digit percentage year-over- year, primarily due to unfavorable FX impact. Without the currency impact, we would have achieved double-digit sales growth. In North America, we recorded decent sales growth of a low-teen percentage, mainly due to sales contribution from the Mahwah business. ■We anticipate our performances in the European markets to be further affected by negative FX trends as well as increasing competition from Japanese and European companies. 15 mindray#17Financials - 2015 Results Highlights USD (in millions) except EPS, A/R, A/P, Inventory days Net Revenues 2Q15 2Q14 YoY% 336.8 334.5 0.7% Operating Income Non-GAAP OI EBITDA Net Income 50.0 64.4 -22.4% 59.3 71.6 -17.3% 64.8 77.0 -15.8% 41.2 59.6 -31.0% Non-GAAP NI¹ 49.5 66.2 -25.3% 2 Non-GAAP NI (ex tax benefit) 49.5 64.3 -23.0% Diluted EPS Non-GAAP Diluted EPS 0.35 0.50 -31.3% 0.42 0.56 -25.6% Account Receivable Turnover Days. 51 52 Inventory Turnover Days 101 99 Account Payable Turnover Days 57 62 Note: mindray 1. For this press release, net income and non-GAAP net income refers to GAAP net income attributable to the company and Non-GAAP net income attributable to the company as stated in exhibit below, respectively. 2. The non-GAAP net income (ex tax benefit) excludes the tax benefits of $2.0 million recognized in the second quarter of 2014 in relation to the nationwide key software enterprise status. Such status is reviewed by the Chinese government every two years and is subject to approval. The company did not record any such tax benefit in the second quarter of 2015. 16 46#182Q15 Business Segment Highlights 17 USD (in millions) 2Q15 2Q14 YoY% Others 10% Patient Monitor and Life Support 109.7 119.3 -8.1% MIS 26% US$ 337mm In-Vitro Diagnostics 104.5 98.3 6.3% Medical Imaging Systems 88.3 84.6 4.4% Others 34.3 32.2 6.4% IVD/ 31% PMLS 33% ■PMLS: Most lines were impacted by the slow demand in our major markets. IVD: Reagent sales led the overall IVD sales growth and contributed 48.8% to total segment sales. ■MIS: Our radiology products were the major growth driver. The newly introduced high-end portable ultrasound, the M9, also performed well, particularly in developed markets. Others: Increasing after-sales services was the key growth driver. mindray#1918 2015 Guidance Net Revenues Low-single digit % increase Non-GAAP Net income Around 30% decrease under current assumption but subject to change Capital Expenditure ~$150 million Note: 1. Forecast financials as publicly provided on August 10, 2015 2. The non-GAAP net income guidance assumes a 50/50 cash versus equity payments in 2015 related to the new employee incentive and talent retention program which is subject to change. This figure also excludes any tax benefit related to our National Key Software Enterprise status and assumes a corporate income tax rate of 15% for the Shenzhen subsidiary. 3. Non-GAAP figures excludes effects of share-based compensation, amortization of acquired intangible assets, dispute related legal fees, all net of related tax impact. mindray#20Plans for 2015 China: ■Launch more competitive products and continue to optimize our sales and marketing as well as our servicing platform Adopt a more competitive pricing strategy to defend our market share ■Emerging markets: ■Continue to invest to strengthen our local presence to seize long-term opportunities ■Continue to optimize our local operational infrastructures and enhance our capabilities in public and private sector participation IDeveloped markets: ■Continue to ramp up our ultrasound and anesthesia sales channels to further grow the business. ■Continue to execute our investment strategy to strengthen R&D and sales channel capabilities Establish a new employee incentive and talent retention program to retain key employees more effectively ■Launch seven to 10 new products to broaden product offerings across different market segments ■Continue to actively seek M&A and external collaboration opportunities globally 19 mindray#2120 20 Appendix mindray#22Growth Catalysts in China - Macro Environment Total national spending on healthcare (2000 to 2012) Government spending on healthcare (2000 to 2012) 3000 RMB bn 720 637 2785 800 RMB bn 2450 700 600 500 400 27% CAGR (2005-2012) 474 399 300 200 13% CAGR (2000-2005) 276 199 132 100 49 57 64 78 85 104 2500 2000 1500 18% CAGR (2005-2012) 1998 1754 1454 1000 11% CAGR (2000-2005) 1097 1129 866 759 476 515 568 658 500 0 T T 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Source: CEIC; MOH; Deutsche Bank Research; Frost & Sullivan research 21 22 T T 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 mindray#23Market Presence in China Patient Monitoring Devices & Anesthesia Machines Mindray 21% Biochemistry Analyzers Mindray 16% Others 79% Hematology Analyzers Mindray 24% Others 84% Ultrasound Systems Mindray 9% Others 76% Source: Frost & Sullivan research, market data as of 2013 Others 91% 22 222 mindray#2423 23 Healthcare within Reach mindray