Ion Beam Applications, SA

Business and Financial Review • Nov 14, 2019

IBA BUSINESS UPDATE – THIRD QUARTER 2019

Louvain-la-Neuve, Belgium, 14 November, 2019 - IBA (Ion Beam Applications SA), the world's leading provider of proton therapy solutions for the treatment of cancer, today announces its business update for the third quarter ending 30 September 2019.

Olivier Legrain, Chief Executive Officer of IBA SA, commented: "As expected, backlog conversion in the second half of 2019 has accelerated with 21 proton therapy projects under construction. Alongside this, our services business continues to go from strength to strength and 32 centers are now in operation, with the potential for this to increase to 50 in the coming years. Our Other Accelerators business has also continued to be solid with 11 systems sold in the second half, bringing the total to 20 in the year to date.

"200,000 patients have now been treated with proton therapy worldwide. We remain confident in the long-term prospects of the global PT market as we continue to see strong customer interest across the globe from the US, Europe and China. Moreover, our ongoing investment in future technologies, including Arc therapy and Flash irradiation, will enable us to maintain our technologically advanced proton therapy offering and will drive the future growth of the business."

BUSINESS HIGHLIGHTS (INCLUDING POST-PERIOD END)

Proton Therapy

• IBA has sold a total of seven rooms globally in the year to date including:
  • o Two Proteus®ONE* systems in Milan, Italy and Kansas, USA
  • o One five-room Proteus®PLUS* system in Shenzhen, China, the fifth IBA Proteus®PLUS proton therapy solution in China, which is a particularly important market for future growth
• To date, IBA has sold a total of 53 proton therapy centers including 23 Proteus®ONE compact single room systems of which nine are in operation
• At the end of Q3 2019, 21 IBA international projects were under construction, comprising 14 Proteus®ONE and seven Proteus®PLUS systems
• The services business has continued to grow and 32 centers are now in operation. IBA forecasts that this growth should continue strongly to reach 50 centers under service contract in the coming years
• ▪ At ASTRO in September, IBA showcased its core new proton therapy technologies in development: motion management, Arc Therapy, and Flash irradiation. These new treatment techniques have the potential to dramatically change the landscape of radiotherapy and demonstrate significant potential patient benefits

• Flash Therapy was also one of the key topics at IBA's third Victoria Advisory Committee meeting at ASTRO, a consortium of worldwide radiation therapy experts with a focus on developing clinically relevant innovations designed to further improve patient treatment
• In September, IBA's subsidiary, Normandy Hadron Therapy, launched the co-development of a carbon therapy system in Normandy, France. Hadron therapy using carbon ions functions in the same way as proton therapy, but has the advantage of being particularly effective compared to other radiotherapy techniques for the treatment of radiation-resistant tumors

Other Accelerators

• Continued solid performance of Other Accelerators with the sale of 11 systems in the second half of the year, bringing the total to 20 in the year to date including the sale of two Cyclone® 70 systems:
  • o The first in South Korea for the production of heavier ions that will be used to study new rare isotopes
  • o The second in South Africa for the production of next generation medical isotopes used mainly in the diagnosis of critical illnesses
• Excellent sales of the Rhodotron® used for sterilization of medical devices and a new promising application: the production of radioisotopes used for cancer diagnosis and therapy

Dosimetry

▪ Dosimetry continues to perform strongly, having reported revenue growth, tight cost control and strong profitability at the half year results. Recently launched innovative products such as SmartScan TM, myQA Daily TM and myQA iON TM are receiving increasing traction in the global market, further consolidating IBA Dosimetry's competitive position

OUTLOOK

IBA reiterates its outlook given at the time of its first half 2019 results:

Based on the current prudent outlook on the Proton Therapy market, IBA maintains guidance of positive REBIT for 2019.

SHAREHOLDER'S AGENDA

Year End 2019 Results 26 March 2020 First Quarter 2020 Business Update 13 May 2020

-ENDS-

About IBA

IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the worldwide technology leader in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA's proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full-scale proton therapy centers as well as compact, single room solutions. In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry. Headquartered in Belgium and employing about 1,400 people worldwide, IBA has installed systems across the world.

IBA is listed on the pan-European stock exchange NYSE EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB).

More information can be found at: www.iba-worldwide.com

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

For further information, please contact:

IBA

Soumya Chandramouli Chief Financial Officer +32 10 475 890 Investorrelations@iba-group.com

Thomas Ralet Vice-President Corporate Communication +32 10 475 890 communication@iba-group.com

For media and investor enquiries:

Consilium Strategic Communications Amber Fennell, Angela Gray, Lucy Featherstone, Lizzie Seeley +44 (0) 20 3709 5700 IBA@consilium-comms.com