ICONDavy Irish Equity ForumMr. Brendan Brennan – VP Investor RelationsSeptember 23rd 2009

Forward Looking Statements

Certain statements contained herein including, without limitation, statements containing the words “believes,” “anticipates,” “intends,” “expects” and words of similar import, constitute forward-looking statements concerning the Company's operations, performance, financial condition and prospects. Because such statements involve known and unknown risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation includes selected non-GAAP financial measures. For a presentation of the most directly comparable GAAP financial measures, please refer to the Quarter 2 2009 press release consolidated income statement headed Consolidated Income Statements (Unaudited) (US GAAP)

Global Full Service Clinical Development

ICONs Global Footprint

ICON Plc Staff Growth 1990 - Today

Market Environment

Market Fundamentals Still Intact

• Outsourcing Penetration expected to increase– More Strategic approach to outsourcing– Cost containment– Globalisation of clinical research

• Continued R&D Spending Growth.– Pipelines remain solid– Scientific innovation continues to expand

• Increasing Regulation – More patients/ more studies– Post marketing surveillance

Increased Outsourcing

• Clients are increasingly focused on their core competencies of– Discovery– Strategic Development– Marketing

• Clients are engaging CROs at a more strategic level– Level of management engagement (Executive to executive)– Level of co-operative engagement i.e. sharing drug pipeline intentions– Deeper reliance on CRO scientific and therapeutic expertise

• Reduced internal capacity in the companies of strategic partners e.g. staff or asset transfers/reductions

• Clients likely to move their % outsourced from ≈ 30% to >50% over the next 5+ years

Market Fundamentals Still Intact

• Outsourcing Penetration expected to increase– More Strategic approach to outsourcing– Cost containment– Globalisation of clinical research

• Continued R&D Spending Growth.– Pipelines remain solid– Scientific innovation continues to expand

• Increasing Regulation – More patients/ more studies– Post marketing surveillance

Clinical Compounds in Development

R&D Spending Growth

CRO Market Size 1996 – 2012 (E)

Total Biotech Funding ($ Millions)

Market Fundamentals Still Intact

• Outsourcing Penetration expected to increase– More Strategic approach to outsourcing– Cost containment– Globalisation of clinical research

• Continued R&D Spending Growth.– Pipelines remain solid– Scientific innovation continues to expand

• Increasing Regulation – More patients/ more studies– Post marketing surveillance

Opportunities…. but also Risks

ICON in this Market Environment

2003 to Q2 2009

Net volume represents only those opportunities which were ultimately outsourced

Net Volume of RFPs

Book to Bill Ratio Net Business Wins

Net New Business Wins and Book to Bill Ratio

Q2 09 Net Wins H1 09 Net Wins

Analysis of Business Wins

Analysis of Backlog by client Q2 09

Total Backlog Level ($ Millions)

14%

Value of backlog forecast to be earned in next 4 quarters

% coverage of next 4 quarters forecast revenues

Coverage of next 4 quarters from Backlog

Projects of Longer duration lead to slower backlog burn

Strategy

• Capitalise on market fundamentals to drive organic growth in all business units.

• Cross-sell services to grow sales and margin

• Build Deep Strategic Relationships

• Create Stronger differentiation across our services

• Retain a flexible business model to respond to differing client outsourcing strategies

• Pursue acquisitions to enhance depth and scale of current operations and to add additional complementary services e.g.

– Phase I – Bioanalytical / Biomarkers– Therapeutic specialists

– Safety/Late Phase– Imaging– Japan

Acquisitions to date – 13

•Revenues acquired $130m

•Staff acquired – 1,200

•=> Organic growth >80%

ICON’s Core Strategy is Organic Growth,with acquisitions made to add new services or scale

Market Feedback

ICON in recent Surveys

“ICON is one of three CRO’s cited most frequently as sponsor’s favourite CRO vendors”

“Our confidence goes up that ICON is the right name to own in this environment, given their consistent quality”

““ ICON is a darling of the industry, the company's stunning growth in 2006 and 2007 surprised its peers. Now, the Dublin-based company is still outpacing just

about everybody, but at a less accelerated clip.”

Financial Performance

CAGR 28%

(E)

Net Revenue CAGR of 28% since 2005

* Mid point of Guidance July 22nd

CAGR 35%

Earnings Per Share Growth

* Mid point of Guidance July 22nd

(E)

Cash Flow from Operations / Free Cash Flow

FCF Per Share

* Estimate assumes DSO of approx 60 days. Historic periods FCF exclude Head-office construction costs

Return on Equity

30 June 09 30 June 08 % Increase

Net Revenue 220 218 1%

Direct Costs 125 123 1.8%

SG & AEBITDA

5837

6431

(7.1%)19%

D & A 8 7 13%

EBIT 29 24 20%

Net Income 23 19 21%

EPS (Inc SFAS 123R) 38c 31c 23%

Weighted Average no. of Shares (Inc SFAS123R)

59.7m 60.3m (1.1%)

Recent Financial Performance($ millions) Quarter 2 2009

30 June 09 30 June 08 % Increase

Net Revenue 440 420 5%

Direct Costs 249 236 6%

SG & AEBITDA

11971

12559

5%21%

D & A 15 13 18%

EBIT 56 46 23%

Net Income 44 36 22%

EPS (Inc SFAS 123R) 73c 59c 24%

Weighted Average no. of Shares (Inc SFAS123R)

59.7m 60.2m (0.7%)

Recent Financial Performance($ millions) H1 2009

Summary Balance Sheet and Cash Flow($ millions)

H1 endedJun 30, 09

Full Year ended

Dec 31, 08

Full Year ended

Dec 31, 07

Full Year ended

Dec 31, 06Cash $147.3 $101.1 $118.6 $102.9

Debt $64.1 $105.4 $94.8 $5

Net Cash/Debt $83.2 ($4.3) $23.8 $97.9

Total assets $897.5 $867.3 $693.1 $476.3

Total Liabilities $389.5 $410.9 $304.9 $173.6

Shareholder’s equity $507.9 $456.4 $388.4 $302.7

Cashflow from operations

$128 $81.3 $42.9 $50.4

Capital expenditures $16.4 $67.9 $75.4 $31.5

Qtr endedJun 30, 09

Full Year ended

Dec 31, 08

Full Year ended

Dec 31, 07

Full Year ended

Dec 31, 06

Sales Growth 5% 37% 38% 39%

EPS Growth 24% 38% 41% 177%

EBITDA Margin 16.2% 14.7% 14% 13.8%

EBIT Margin 12.8% 11.5% 11.0% 10.5%

ROE 17.7% 17% 14% 13%

ICON Key Financial Metrics($ millions)

ICON

S&P 500 Nasdaq Composite

ICON Plc Historic Share Price Performane

• Top Global Clinical CRO - #4

• Deep customer relationships

• Quality of staff

• Experienced Management team

• Excellent Reputation

• Solid market fundamentals

• Outstanding record of growth

• Strong balance sheet

Investment Case Summary