1. Investor Presentation Q2 2015

2. The Female Health Company Mission Improving Women’s Health Around the World 2 Yellow shading shows distribution of FC2

3. Current Product Portfolio 3 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

4. At a Glance 4 NASDAQ FHCO Core product FC2 Female Condom Gross margin ~58% Operating margin~25% Total current assets $19 million no L/T debt at 3/31/15 Public Since1984 Profitable Since2006

5. Serving Women’s Health Issues Globally 5 HIV Leading 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 STIs Explosive incidence numbers around the world In U.S. 20 million new cases annually of the 3 STIs the CDC tracks – 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

6. FC2 Female Condom vs. Male Condom 6 FC2 is simply an alternative to the male condom * Every $1 spent on Female Condoms represents $20 in healthcare savings per the Johns Hopkins Study published in AIDS and Behavior, 2012.

7. FHC Growth Strategy Invest in strategic growth initiatives to create long term shareholder value and: Grow FC Demand – Develop potential in high value consumer market – Further develop existing global public sector presence through sales and marketing activity Diversify the Portfolio through Product Additions – Drive Company growth and improve the consistency of revenues and earnings 7

8. Progress on Growth Strategy FC2 Growth Initiatives – New tender activities in focus countries – Consumer research completed, branding underway – Online store and other infrastructure put in place for consumer launch Diversification/Product Addition – Over 75 products/companies evaluated – Ongoing discussions with top targets – Expected first deal announcement in calendar 2015 8

9. The Condoms Markets 9 ConsumerGlobal Public Sector Global Market $4-6 Billion Units ~10-12 Billion Family Planning HIV/AIDS Global Condom Public Health $ 400 – 500 Million Units ~10 Billion

10. Why Female Condoms for the Consumer Market? US Women generally unhappy with hormonal birth control side effects Major side effects are weight gain and moodiness but some are very serious Traditional alternative is male condom which reportedly lessens pleasure Female condom is non-interruptive, and couples report a more natural and enjoyable feel 10 Women in the US want an alternative to hormones that is pleasurable!

11. Online Store 11

12. Consumer: What’s Next Coming Soon: – New Brand – New Package – New Condom Colors – requires FDA pre-approval – Social marketing campaign to target users 12

13. 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 Tapping into Consumer Market - Non-hormonal birth control alternative – Many US women report dissatisfaction with the side effects of hormonal birth control Female Controlled Protection – Basic rights, education, opportunity 13

14. Talented New Management Team 14 Karen King – CEO and President – – Effective January 20, 2014 – – Previous Experience 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 – – Previous Experience DuPont, BASF, DSM, and Cambrex Martin Tayler – Executive Vice President of Global Operations – – Effective September 15, 2014 – – Previous Experience SSL International PLC (under Durex and Dr Scholl’s brands),Reckitt Benckiser Group plc OB Parrish - Chairman – – A FHCO founder – – Previous Experience Pfizer – Executive V.P. of International Division G.D. Searle – President of Global Pharmaceuticals

15. Adding New Team Capabilities 15 Sales and Marketing Capabilities Being Added without Incremental Headcount VP Sales and Marketing US Sales and Marketing Director Global Commercial Director Consumer Marketing Manager Operations Leader with Significant Global Male Condom Experience

16. State-of-the-Art Manufacturing 16 100 million unit capacity, with ability to add up to an additional 100 million units.

17. Low Risk, Unique Business Model 17 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

18. 9 years profitable No debt Accumulate cash for acquisitions Brazil tender for up to 50 million units / 25 million units ordered Strategy to accelerate growth in current markets and expand into new markets NOL’s utilized to reduce cash payments for income taxes 18 Q2 YTD 2015 (millions) 2014 (millions) 2013 (millions) Units32.942.554.8 Revenue$17.6$ 24.5$31.5 Gross Margin$10.2$ 13.1$17.5 Operating Income $4.4$ 3.99.8 Tax Expense (Benefit) $2.0$ 1.5($4.4) Net Income$2.5$ 2.4$14.3 EPS - Diluted$0.09$ 0.08$0.50 Tax-cash payments $0.16$0.77$0.35 Adjusted EBITDA $3.3$4.5$10.5 EPS – Diluted, as adjusted $0.11$0.16$0.36 FY 2015 – 2013 Results

19. 19.6 100% sales of lower price, higher margin, next generation FC2 19 FC1 FC1 & FC2 FC2 54.8 CAGR 13.2 % Unit Sales 42.5

20. Net Revenues 20 $14.8 100% sales of lower price, higher margin, next generation FC2 FC1 FC1 & FC2 FC2 $31.5 $24.5

21. Gross Margin 21 37.0 100% sales of lower price, higher margin, next generation FC2 FC1 FC1 & FC2 FC2 53.6

22. Competition 22 FC2 Cupid PATH – Women’s Condom Marketed Globally Marketed Outside U.S. Not Marketed Only one other female condom approved by WHO – Cupid – not approved by FDA

23. Competition 23 FC2CupidPATH – Women’s Condom Nitrile PolymerNatural rubber latexPolyurethane 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-allergenicAllergenic 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 use water and oil based lubricants May be inserted in advance FHC capacity 100MM, with ability to double Website indicates approx 10MM capacity

24. 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 24

25. FHC Summary Stable, profitable company New strategy focused on driving Company growth Small percentage of total potential market reached to date = opportunity for growth Experienced leadership 25