ICON Public : plc Presentation

J.P. Morgan 39th Annual Healthcare Conference

Steve Cutler, Chief Executive Officer ICON plc

12th January 2021

ICON and You.

Partners making a difference.

Forward Looking Statement

Certain statements will be forward looking statements. These statements are based on management's current expectations and information currently available, including current economic and industry conditions. Actual results may differ materially from those stated or implied by forward looking statements due to risks and uncertainties associated with the company's business and listeners are cautioned that forward looking statements are not guarantees of future performance. Forward-looking statements are only as of the date they are made and we do not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise. More information about the risks and uncertainties relating to these forward-looking statements may be found in SEC reports filed by the company.

This presentation includes selected non-GAAP financial measures.

While non-GAAP financial measures are not superior to or a substitute for the comparable GAAP measures, we believe certain non-GAAP information is more useful to investors for historical comparison purposes. For a presentation of the most directly comparable GAAP financial measures, please refer to the latest Form 6-K (Unaudited) filed with the Securities and Exchange Commission.

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Agenda

ICON Overview

ICON Strategic Focus

Financial Performance

Market Trends and Outlook

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1. ICON Overview

A story of growth: ICON has a successful 30 year track record of organic growth bolstered by strategic acquisitions

$0.5m revenue	$2.78bn revenue
(1990)	(mid point 2020 guidance)

15,250

4

Global Platform & Execution Capability for the Future

5,125

5,360

3,915

850

c15,250 employees across 94 locations in 40 countries*
providing access to patients and execution capability	Africa and Middle East
*Employees, locations & countries as at 30 Sept 2020	Partner network	5

Across a comprehensive service portfolio supporting all aspects of drug and device development

Commercialisation & Outcomes

• Real World Intelligence
• • Real World Evidence Strategy
  • • Analytics
  • PUBSHUBTM
  • Real World & Late Phase Research
  • Research Services
  • Site Management Associates
  • Direct to Patient Contact Solutions
  • Strategic Regulatory Services
• Value, Access and Outcomes
• • Health, Economics & Outcomes Research
  • Pricing, Marketing Access
  • • Reimbursement
  • Medical communications
  • Market Research & Analytics
  • Creative Design & Digital Solutions
• Language Services
• • Clinical & Medical Translation
  • Linguistic Validation
  • iTrans Translation Management System
• Medical Device

Early Phase Services

• PK/PD Modelling
• Pharmacodynamic Models & Simulation
• Data Visualisation & Analysis
• Clinical Research Unit
• NONMEM® Software
• PDx-POP®

Laboratory Services

• Bioanalytical Laboratories
• Global Central laboratories
• Specialty Laboratories
• Integrated Clinical Research & Laboratory Services

Drug Development Services

	-	Preclinical/Non-Clinical Development
	- Chemistry, Manufacturing & Controls (CMC)
	-	Clinical Development
	-	Pharmacokinetics
Insert	- Due Diligence & Asset Valuation
Insert
Picture	Picture
		Clinical Research Services
		-	Project Management
		-	Clinical Operations
		- Feasibility & Study Start-Up
		- Site & Patient Solutions
			-	Patient Recruitment
				& Retention Services
			-	Accellacare
			-	FIRECREST
		-	Biometrics
			-	Data Management
			-	Biostatistics
			- Medical Writing & Publishing
			- Adaptive Trials & ADDPLAN®
		-	Scientific Operations
			-	Medical Affairs
			-	Endpoint Adjudication/DMC Oversight
			-	Pharmacovigilance
			-	Regulatory Affairs
			-	Medical Imaging
			- Interactive Response Technology &
Insert	Insert			Clinical Supplies Management
Picture	Picture
		- Investigator Payments and Grant Budgets

Functional Services

• DOCS

-	Government & Public Health Solutions	6

Leveraging our differentiated technology solutions and data collaborations

Patient Identification	Real World Data Collaborations

World Class Analytics & Collaborations		Solutions
		ICONIK	Platform delivering studies better,
		faster, safer, more cost effectively
ICON Informatics Hub		FIRECREST	Investigator & patient training and
		support system
		ADDPLAN	analysis of adaptive trials
			Software, for design, simulation &
		EVIDENCE	Platform for Enhancing Observational
		Research

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Widely recognised as an industry leader - recent industry & company awards

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ICON supports Pfizer & BioNTech on COVID-19 vaccine trial

- Global study involving recruitment of 44,000 patients over a three month period across 150 sites in six countries

- Fastest vaccine ever developed

- ICON provided both decentralised and on- site clinical trial services

- High level of remote clinical monitoring and remote source data verification, in addition to on-site monitoring.

- Accellacare, provided support to accelerate site initiation and was critical to rapid startup and the high recruitment rates achieved.

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Delivering a History of Growth & Shareholder Value

Annual Revenue ($m)

Earnings Per Share

3,000																						8.00
2,500																						7.00
																						6.00
2,000																						5.00
1,500																						4.00
1,000																						3.00
																						2.00
500																						1.00
0																					2020**	-
1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018*	2019	1999	2000	2001	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018*	2019	2020**

* Pre 2018 (ASC605), 2018 - 2020 (ASC606) ** 2020 midpoint guidance

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Supported by Balance Sheet Strength & Flexibility to Enhance Growth

Capital Allocation Priorities

Internal Capital Investment	External Investment	Enhance Returns
		ROIC of

c$55m p.a.	c$1bn	c$1.3bn
	on M&A	Share Repurchases since
OneSearch application	since 2008	2014
Site ID and Feasibility
FIRECREST
ICONIK
ADDPLAN
Laboratory
RPA		11

2. ICON Strategic Focus

Building towards our vision through our strategy

Our Mission

To help our customers accelerate the development of drugs and devices that save lives and

improve the quality of life.

Partnership	Operational	Talent &	Patient, Site &
& Customer	Excellence &	People	Data
Focused	Quality	Development	Solutions

Applied innovation & integrated data to expedite development

M & A to enhance capabilities

Own it@ ICON

Accountability & Delivery | Collaboration | Partnership | Integrity	13

Building the foundation for data accessibility & insight

Driving Site

Performance

Patient

Engagement

Clinical Trial

Efficiencies

Analytics, AI &

Machine Learning

Mobile Health

Innovation

OneSearch

Optimising Investigator Site

Selection

Patient Portal

Engaging Patients in Clinical

Research

ARCADES

Scalable, flexible IT

Architecture

OMR

Operational Data Analytics

Platform

Mobile Health

Platform

Automation

Centre of Excellence

Firecrest

Online learning and tracking of investigator compliance

TrialDrive

eDoc Management

ICONIK

Analytics Platform

OneSearch

Machine Learning

eSymphony

Home Health Solution

Advanced

Analytics

ICONIK

Remote Site Monitoring &

Engagement

eConsent

Electronic Informed Consent

Best in Class

Industry Technologies

New Digital

Endpoints

Wearables &

Sensors

Cloud Adoption

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Heads in the cloud

Site and Patient Solutions

We access and analyse data from multiple, disparate sources to gain insight into where to conduct research programmes at a country, site and patient level.

• Feasibility intelligence tools - analysing multiple data points to evaluate sites and patients to meet protocol needs
• EHR interrogation technology collaboration - enabling specific inclusion/exclusion criteria to identify target patient populations
• One Search - our intuitive searchable site selection workflow tool, assessing a site's suitability for a study

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Feet on the ground

Site and Patient Solutions

The ICON global site network combines our owned integrated site network (Accellacare) and healthcare alliances to provide access to hundreds of multispecialty physicians and hundreds of thousand of patients.

• Matching eligible patients with qualified physicians
• Improving site performance
• Increasing patient engagement and retention
• Providing clinical trials as a care option to patients

Increasing predictability in patient recruitment

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In good

hands

Site and Patient Solutions

ICON's focus on understanding and engaging with

patients throughout the journey of a clinical trial improves patient recruitment and retention.

• Leveraging patient insight based on health information collaboration, patient surveys and forums to gain better understanding of patient motivation and engagement
• Highly targeted recruitment and retention strategies that improve patient communication and compliance

Increasing predictability in patient recruitment.

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Accellacare Site Network

Faster start-up, patient recruitment and quality services

Speed	Patients		Quality
Site selected to	Average of	16 inspections
site initiation visit	40% more patients	over 5 years -
is on average	per site	no critical
30% faster
		findings
		Over 30 years experience

Accellacare is focused on reducing study start-up times, achieving early enrollment targets

and high retention rates with an enhanced patient experience

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3. Financial Performance

2020: Robust Backlog, Revenue, Margin & Earnings profile

Backlog				Revenue
		+ 12%		$9.4	710	725	715	620	702
			$9.1
$bn				$m
	$8.6	$8.7
$8.4
Q3 2019	Q4 2019	Q1 2020	Q2 2020	Q3 2020	Q3 2019	Q4 2019	Q1 2020	Q2 2020	Q3 2020
Operating Margin			Earnings Per Share
					1.74	1.83	1.70		1.72
15.5%	15.9%	14.9%		15.4%
			12.1%					1.20
Q3 2019	Q4 2019	Q1 2020	Q2 2020	Q3 2020	Q3 2019	Q4 2019	Q1 2020	Q2 2020	Q3 2020	20

4. Market Trends and Outlook

Market environment continues to remain healthy

CRO Market Size ($bn)	Quarterly Biotech Funding
2019-24 CAGR +6.9%

CRO Medium-Term Industry Growth	FDA Approvals by year - 2020 was the second highest in 20 years

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Robust CRO Near-Term Market Fundamentals

• Expanding R&D spend of 4% in 2021 (+3.2% CAGR 2019-26)1
• Biotech funding remains robust
• RFP environment is strong across therapeutic areas
• No abnormal cancellations due to COVID
• Increased biopharma outsourcing penetration - currently c50% increasing c1-2% pa2
• Increased trial complexity driving market share to large global CROs
• Acceleration of decentralised trials via remote monitoring and use of technology

1Source: EvaluatePharma World Preview 2020 2Source: EvaluatePharma, FDA.gov, Evercore ISI	23

2021 ICON outlook and financial objectives

• Strategic focus on key areas - patients, sites and data strategy
• Scale, capabilities & resources to capitalize on positive market trends
• New business at least 1.25x revenue
• Year over year revenue growth in low to mid teen % range
• Gross margins stable with continued leverage of SG&A platform
• Maintain industry lowest tax rate of c 13 - 14%
• Year over year EPS growth in low to mid 20% range
• Strong cash conversion resulting in DSO of 45 - 50 days
• Best in class balance sheet for M&A opportunities and share repo @ ~ 1 million shares per annum

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