© 2017 IBA SA

Meaningful Innovations

10/2020

Disclaimer

This presentation may contain forward-looking statements concerning industryoutlook, including growth drivers; the company’s future orders, revenues,backlog, or earnings growth; future financial results; market acceptance of ortransition to new products or technology and any statements using the terms“could,” “believe,” “outlook,” or similar statements are forward-lookingstatements that involve risks and uncertainties that could cause the company’sactual results to differ materially from those anticipated. The company assumesno obligation to update or revise the forward-looking statements in this releasebecause of new information, future events, or otherwise.

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A world leading innovator in cancer diagnostics and treatment

Proton Therapy

56%

Dosimetry19%

Other Accelerators

25%

IBA at a glance

3

€283M

*Proteus®ONE and Proteus®PLUS are brand names of Proteus 235

2019 Revenues

1

2

3

1,500 employees worldwide and growing200 engineers in R&D

Global leader in particle accelerators and dosimetryFour activities: Proton Therapy, Radiopharma solutions, Industrial solutions, Dosimetry

Continuous innovation

Global leader in particle accelerators and dosimetry

PROTON THERAPY

IBA Proton Therapy

Proton Therapy

Solutions sold59

OTHER ACCELERATORS

IBA RadioPharma Solutions IBA Industrial Solutions

Cyclotrons

sold300 Industrial Accelerators

sold250

DOSIMETRY

IBA Dosimetry

Clients10K

4

Global leader in particle accelerators and dosimetry

Engineers in R&D toincrease affordability, clinical benefits and ease of use

INNOVATION

Patents(half in Proton Therapy)

200

500+

KNOW HOW

Years of world-class experience34

Pioneer in particle accelerators

Acceleratorsin operation600+

Treatment of +100,000 proton therapy patients

EXECUTION

Operatingproton therapysites

36

Proton therapy projects under development

Seamless and faster execution in all regions of the world

20 In all business unitsR&D

5

IBA Dosimetry Water Phantoms sold

+

5000

REBIT

EUR

0.1Million

Net profit

EUR

7.6Million

Revenues

EUR

283Million

+10%(vs 2018)

Record Equipment and Service Backlog

PT and Other Accelerators Service revenues cross

9PT rooms and

25OtherAccelerators sold

EUR

254Million

Record order intake

Gross Cash

EUR

46Million

2019 Key highlights

EUR

1.1Billion

52

PT Servicecontracts

EUR

1.1Billion

6

Belgian Anchorage SCRL20,60%

IBA Investment SCRL & IBA SA2,24%

UCL & Sopartec2,02%

SRIW & SFPI2,53%

Belfius Insurance SA3%

Institut des Radioéléments FUP4,72%

Capfi Delen Asset Management NV0,13%

Norges Bank Investment Management

4,68%

Kempen Capital Management NV2,91%

Free Float57,18%

Shareholders structure Dec 2019

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Patients& Customers

Shareholders

Environment

Society

> Affordability

> Treatment & Process Quality> Innovation> Customer Satisfaction

Patients & Customers

People

> Quality Jobs The Promise> Health & Safety

> Profitability> Ownership & Independence> Access to good capital

> Business Ethics> Responsible> Procurement> Education> Community involvement

Society

IBA strong purpose – 5 stakeholders

> Climate Change> Waste> Mobility> Resources scarcity

Environment

Shareholders

People

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Proton Therapy

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Why Proton Therapy?

Deposits most of its energy before reaching the tumor

Photon-based Radiotherapy

Tumor

Exit dose

Deposits most of its energy inside the tumor

Proton Therapy

Entry dose

Minimal radiation exposure of healthy organs

PROTONS:

Tumor

Entry dose

Bragg Peak

200%

180%

160%

140%

120%

100%

80%

60%

40%

20%

20

Depth of tissue penetration (cm)

Effective dose Advantage with protons

Spread of

Bragg Peaks

Photons

Organ

at risk

10

Potential to reduce the risk of secondary cancers

Potential to improve the quality of life for patients during and after treatment

Possibility of retreatment

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12Courtesy of Seattle Cancer Care Alliance Proton Therapy Center – Non-Small Cell Lung Cancer

Reduce the amount of toxicity

PHOTONS PROTONS

Reduce the amount of heart and esophagus toxicity while treating lung cancer patients

20% of radiotherapy patients could benefit from PT

1310

Pediatric Brain Skull base and

spineHead and neck

Eye Lung Breast Gastro-intestinal

Genitourinary OtherReirradiationGynecological

IBA leads the PT market

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Proteus PLUS

IBA world-class innovative proton therapy solutions

Proteus ONE Proteus PLUS

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Proteus PLUS

Research room

Machine &

Patient QA

Treatment

planning room

Treatment

control roomFull Gantry

Fixed Beam

16

ProteusONE - A game changer

1718

Smaller

footprint (360m²)

Easier

to finance

Faster to install

(18 months from

order to clinical)

Most advanced

clinical features

(PBS, CBCT, …)

Undisputable advantages of IBA solutions

18Proteus®ONE and Proteus®PLUS are brand names of Proteus 235

Fastest installation1

True compactness

Software integration

Strategic partnerships2

5

6

Smart workflow3

Clinical excellence

Innovation built on

expertise

Continuum

upgradability4

7

8

Proton Therapy Market

19

20

2019 PT market encouraging, but still lumpy

13

25

17

8

22

46

27

18

11

31

0

5

10

15

20

25

30

35

40

45

50

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Proton Therapy market

PT Market growth accelerated from 2005 onwards

Sizable market of 20-25 rooms p/y; still lumpy

Proton therapy will continue to grow

* IBA model

Centers in operation per region*

2020 and beyond: 53

2015: 21

2010: 10

2005: 4

2000: 3

2020 and beyond: 58

2015: 19

2010: 11

2005: 9

2000: 8

2020 and beyond: 53

2015: 15

2010: 7

2005: 5

2000: 121

IBA CONFIDENTIAL22

New Jersey

*4 centers not financially activated yet

59* proton therapy centers36 centers in operation

19 centers in development *4 centers not financially activated yet

IBA remains the market leader in proton therapy

Market share in PT rooms (end H1 2020)* PT rooms in operation (end H1 2020)

Number of PT rooms sold by IBA

3 5 9 12

35 39 4453

6168 70

8092

104 109115

124

0

20

40

60

80

100

120

140

• Research rooms are excluded

• Mitsubishi bought by Hitachi

% Accumulated patients

treated by vendor (end 2018**)

** PTCOG statistics

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313 22 21 25

49 50

90

150

237

521

589

0

100

200

300

400

500

600

1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2019

Clinical experience is expanding rapidly

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PubMed database

589 publications on Proton Therapy in 2019

Number of publications up to end of 2019

Number of patients treated by Proton Therapy

> 200,000 patients treated

by Proton therapy

Number of patients treated with PT is growing fast

High activity in peer reviewed publications and trialsNumber of patients treated on IBA systems

90,000 patients treated

on IBA systems

100,000 patients will have been treated on

IBA PT solutions in 2020

IBA product leadership and innovation

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The only true compact single room image-guided IMPT solution

IBA leads the compact market with Proteus®ONE

Designed to be integrated in an existing RT center with a small footprint

1

Easy to install, operate and finance

Patients and medical staff inspired solutionfor high throughput

Equipped with the latest in clinical innovation2

3

4

Hitachi* 4%

Mevion 35%

23IBA

48%

Hitachi 4%

Sumitomo 4%

In operation

Varian 4%

Mevion 28%

60IBA

47%

Varian 12%

Hitachi* 2%Sumitomo 3%

Sales

Hitachi 7%

Protom 2%

Market shares on compact segment (rooms)

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The next generation of proton therapy systems

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Manage Motion Deliver Arc Therapy Deliver FLASH Therapy

Motion Management - Why does it matter?

More Patients

25% of patients that could benefit from

proton therapy have moving tumors*

Higher Confidencein your treatment planning and delivery

*Extrapolation with Globocan worldwide cancer incidence applied to the Dutch Model

Proton Arc Therapy – Why does it matter ?

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FasterOptimized workflow and maximized

patient throughput

SimplerLinac-like operation avoiding multiple

fields adjustments

SharperExpected lower integral dose and

better dose conformality*

*Li et al. Radiation Oncology (2018) 13:35 / Liu et al. Radiation Oncology (2020) 15:21

FLASH Therapy – Key potential benefits

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Toxic

ity o

n

healthy t

issue

IMPT FLASH

Less Toxicity

Less toxicity on healthy tissues

Maintains tumor control

Allows dose escalation

FLASH Therapy - Key potential benefits

Allows hypofractionation

Game changer:

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Fra

ctions

IMPT FLASH

30-35

fractions

< 3

fractions

Shorter treatment

X 101 MONTH

1 WEEK

Patient comfort Throughput

IBA CONFIDENTIAL

Flash is being developed on IBA equipment

Institute Curie

FranceUniversity of Pennsylvania

USA

UMCG

The Netherlands

Rutherford Cancer Centre

Thames Valley, UK

Flash irradiation delivered in a

Proteus®ONE treatment roomFlash – 17 Gy

60 Gy/s

Treatment in a Flash

A clinical trial in dogs with cancer

Flash irradiation delivered in a

Proteus®PLUS treatment room

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The next generation of IBA proton therapy systems

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Patients Benefits Ease of Use Patient Throughput

Benefits

IBA and partners develop the technologies of the future

IBA and partners lead

1

2

3

1

2

Better workflow efficiency

Simpler treatment preparation and delivery

Potential to provide superior treatment to

cancer patients

IBA’s technology and expertise enables these

developments

IBA is working with its partners, combining expertise

to advance science and technology

Strong partnerships to leverage research and studies

1

2

3

37 clinical accelerators ready for research

Integrating the most advanced capabilities of Elekta,

Philips and RaySearch

First experience with model-based selection of head

and neck cancer patients for PT

An estimated 100,000 patients will be treated on IBA

systems by 20204

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RadioPharma Solutions (RPS)

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RadioPharma Solutions - Cyclotrons - Cyclone®

Cyclone® KIUBE

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Cyclone® 30 Cyclone® 70

+300 IBA cyclotons

installed worldwide

MAX POTENTIAL, MAX CAPACITY

Self shielding option

RPS - RadioChemistry- Synthera®+ Family

▪ BETTERMultiple runs of multiple tracers

▪ SMARTERAccessory-based

▪ STRONGERConsistent yield and high uptime

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+600 Synthera®

worldwide

RPS - Radiopharmacy integration – IntegraLab®

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+80 IntegraLab®

worldwide

Increase your

production uptime

▪ Project conception

▪ Equipment integration

▪ Process validation

▪ Process equipment operation

▪ Maintenance Service

▪ Specialist advice

▪ Extented equipment services

▪ Endless innovation

▪ Upgrade support

Reduce your

project timeStay ahead of time

Industrial Solutions

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Industrial Solutions

RHODOTRON®-based

End-to-End

Solution

+ 250 accelerators

Installed Worldwide

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FOOD RADIOISOTOPE PRODUCTIONSTERILIZATION

Endless Applications

PASSIONATE ABOUT E-BEAM & X-RAY TECHNOLOGIES,

DRIVEN BY CUSTOMERS’ APPLICATIONS

About E-beam and X-ray Technologies

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1

2

3

4

Proven modality: electron beam irradiation is a proven industrial sterilization modality.

Cleaner technologies: IBA E-beam and X-ray solutions arepowered by electricity. No need for toxic gas or nuclear radioisotope to treat products. IBA provides a clean and sustainable solution to help the DMD industry to better serve patients.

Strong expertise: wide range of expertise within IBA to provide en-to-end E-beam and X-ray solutions.

Never ending innovation: innovation remains at the heart of IBA's passion and the Rhodotron® TT300-HE was born out of this desire to go always further.

Customers at the Heart of the Solution

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New generation RHODOTRON® ACCELERATOR (from 20kw to 560 kw)

Offers a new way to diagnose and treat

cancer

Reaches new markets

Allows a unique alternative to cobalt

and eto for application such as sterilization

Brings more flexibility to customers

Customers at the Heart of the Solution

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CONTINUOUS CARE

Facilitation of technology transfer

thanks to the new Feerix testing center

New training center at IBA

Development of the offer of services

and upgrades

End-to-End solution provider

Dosimetry Solutions

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IBA Dosimetry

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1

2

3

Full range of innovative high-quality solutions that maximize efficiency and minimize errors in QA procedures in radiation therapy and medical imaging

Dosimetry products measure the radiation dose to be

administered to cancer patients during diagnosis and subsequent

treatment with radiotherapy equipment

IBA’s Dosimetry products are found in most hospitals worldwide

IBA Dosimetry

Integrated Quality Assurance Solutions

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herein in any format or media without the prior and express written permission of Ion Beam Applications SA is prohibited.

Thank you

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