INVESTOR PRESENTATION FY 2014 12/1/14 female The Health Company INVESTOR PRESENTATION FY 2014 12/1/14

The Female Health Company manufactures and markets the FC2 Female Condom. FC2 is the only product currently available: Approved by the FDA and cleared by the WHO Under a women’s control Which provides dual protection against: Unintended pregnancy Sexually transmitted infections (STIs), including HIV/AIDS

At a Glance NASDAQ FHCO Core product FC2 Female Condom Gross margin ~54% Operating margin ~16% Total current assets $13 million no L/T debt at 9/30/14

Global Condom Public Health The “Worlds” of FHC Consumer Global Public Sector Global Market $4-6 Billion Family Planning HIV/AIDS Global Condom Public Health $ 400 – 500 Million

Global HIV/AIDS Market Overview No. 1 cause of death globally for women age 15-44 80% of female cases contracted via heterosexual transmission Male and female condoms are the only prevention products available No near-term alternative prevention products on the horizon In U.S. 20 million new STIs annually; half occurring in young people aged 15-24 In Sub-Saharan Africa, women represent >58% of adults with HIV/AIDS infections (1 ) Worldwide, women living with HIV/AIDS is 50% of the global total (1 ) (1) Source: World Health Organization

FC2 Female Condom vs. Male Condom FC2 is simply an alternative to the male condom Found to be acceptable by women and partners in many cultures Material, nitrile polymer, is stronger than latex, reducing the probability of tearing, and is non-allergenic Allows access to more prevention options Transfers heat, warming to body temperature for natural feeling sex Non-interruptive, can be inserted in advance of sexual activity Reduces health costs by increasing HIV/AIDS prevention * * Every $1 spent on Female Condoms represents $20 in healthcare savings per the Johns Hopkins Study published in AIDS and Behavior, 2012.

FHC Brand Quality, Reliability, Safety Partnership in solving significant global issues HIV/AIDS, other STIs Poverty – Family planning Female empowerment and rights Delivers to all stakeholders

Why FC2 Demand Will Continue To Grow Continued Global Focus on HIV Feminization of AIDS – leading cause of death women age 15-44 35 million persons living with AIDS, 2.3 million newly infected in 2012 Exploding incidence of STIs around the world 20M new cases every year in the US alone, half occurring in young people aged 15-24 New Global Focus on Family Planning Gates/DFID Summit – New Funding Female Controlled Protection Basic rights, education, opportunity

FHC Stake Holders Customers – Procurers Investors Customers – Users Society, Countries, Regulatory Bodies Customers – Procurers Government/UN Agencies Investors Partners - NGO’s, Social Marketing, Advocacy Groups Distributors Customers – Users Employees Suppliers

Geographic Expansion FC2 Now Distributed Into 144 Countries Female Health owns certain worldwide rights to FC2 Patents and Trademarks Yellow shading shows distribution 10

FHC Key Goals/Strategy Accelerate and Grow Demand for FC2 Add sales and marketing team (Redeploy portion of training budget) Growth in existing markets Geographic expansion Explore the potential for consumer product Diversification of Product Offering Leverage unique channel, market focus or capabilities Acquisition of another product, technology and/or business Lower business risk, improve consistency in revenue/earnings 11

State-of-the-Art Manufacturing 100 million unit capacity, with ability to add up to an additional 100 million units.

US Programs Highlights FC2 Prevention Programs in Key US Cities – concentrated where HIV/AIDS most prevalent College Campus Program launched – raise awareness of and access to FC2 on campus Online Ordering Presence Market research into consumer product underway

Global Program Highlights Multilingual (English, Portuguese, Spanish and French) website that provides downloadable training and education is visited 1,500 times per month. YouTube multilingual FC2 animation and instruction site has received over 10 million views. 184 training and education sessions in 7 countries with an estimated 118,000 people participating in these sessions. More than 40 countries asked for and received information and advice on training and education.

Low Risk, Unique Business Model Modest inventory level, production primarily against orders Low foreign currency exchange risk, FHCO & Subs Report in $USD Minimal credit risk, less than 1% bad debt in past five years Shifting training/education spending to sales/marketing $2 M unused credit facility NOL carryforward: UK: ~$63 M – No expiration date US: ~$17 M – Expiring in years 2018 to 2027 State: ~$17 M – Expiring in years 2018 to 2027

FY 2014 – 2013 Results 8 years profitable No debt Accumulated cash for acquisitions Recently awarded Brazil tender for up to 50 million units Strategy to accelerate growth in current markets and expand into new markets 2014 (millions) 2013 Units 42.5 54.8 Revenue $ 24.5 $31.5 Gross Margin $ 13.1 $17.5 Operating Income $ 3.9 9.8 Tax Expense (Benefit) $ 1.5 ($4.4) Net Income $ 2.4 $14.3 EPS - Diluted $ 0.08 $0.50

Unit Sales CAGR 13.2 % 54.8 42.5 19.6 FC1 FC1 & FC2 FC2 100% sales of lower price, higher margin, next generation FC2 CAGR 13.2 % 54.8 42.5 19.6 FC1 FC1 & FC2 FC2

Net Revenues $31.5 $24.5 $14.8 FC1 FC1 & FC2 FC2 100% sales of lower price, higher margin, next generation FC2 $31.5 $24.5 $14.8 FC1 FC1 & FC2 FC2

Gross Margin 53.6 37.0 FC2 FC1 FC1 & FC2 100% sales of lower price, higher margin, next generation FC2 53.6 37.0 FC1 FC1 & FC2 FC2

Talented New Management Team OB Parrish - Chairman A FHCO founder Previous Experience Pfizer – Executive V.P. of International Division G.D. Searle – President of Global Pharmaceuticals Karen King – CEO and President Effective January 20, 2014 Royal DSM – President Biologics and BioSolutions The Female Health Company – Executive Vice President Baxter International Michele Greco – Executive Vice President and Chief Financial Officer Effective January 1, 2013 Previous Experience Ernst & Young LLP Audit Partner Susan Ostrowski – Executive Vice President of Sales and Marketing -- Effective July 10, 2014 DuPont, BASF, DSM, and Cambrex Martin Tayler – Executive Vice President of Global Operations Effective September 15, 2014 SSL International PLC (under Durex and Dr Scholl’s brands),Reckitt Benckiser Group plc

Competition FC2 Cupid PATH – Women’s Condom

Competition FC2 Cupid PATH – Women’s Condom Nitrile Polymer Natural rubber latex Polyurethane 2 retention rings: External ring covers the lips of the vagina Internal ring lies against the cervix and anchors the device Octagonal outer ring. Sponge to anchor the device internally. Large external ring: -Tabs on the exterior of the device that reportedly adhere to the vaginal wall - Inserter made from a water soluble polymer that melts in the body and may help keep the product in place Non-allergenic Allergenic Pre-lubricated Not Pre-lubricated -Must be lubricated at time of use -Only internal side of product may be lubricated. External lubrication may prevent tabs from working May use water and oil based lubricants May only use water based lubricants May be inserted in advance

FC2 Barriers To Entry Patents principally on use of nitrile and nitrile/design elements: 38 patents in 50 countries FC2 proprietary material formulation Worldwide product specific training and education Country registration process FDA approval/WHO clearance 23

FHC Summary Stable, profitable company Partner in resolving critical societal needs Unique cost-effective business model Small percentage of total potential market reached to date = opportunity for growth Experienced leadership 24