www.nordion.com

Fourth Quarter Fiscal 2012

Earnings Conference Call January 28, 2013

2

Caution on Forward Looking Statements

This presentation contains forward-looking statements, within the meaning of applicable securities laws, including under

applicable Canadian securities laws and the “safe harbor” provisions of the United States Private Securities Litigation Reform Act

of 1995. These statements can be identified by expressions of belief, expectation or intention, as well as those statements that are

not historical fact. The words “may”, “will”, “could”, “should”, “would”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “expect”

and similar words and expressions are also intended to identify forward-looking statements. Forward-looking statements are

necessarily based on estimates and assumptions made by us in light of our experience and our perception of historical trends,

current conditions and expected future developments, as well as other factors that we believe are appropriate in the

circumstances, but which are inherently subject to significant business, political, economic and competitive uncertainties and

contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-

looking statements. Accordingly, this presentation is subject to the disclaimer and qualified by the assumptions, qualifications and

risk factors referred to in our 2012 Annual Information Form (AIF).

We caution readers not to place undue reliance on the Company’s forward-looking statements, as a number of factors could

cause our actual results, performance or achievements to differ materially from any forward-looking statements. We do not

assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to

time by us or on our behalf, except as required by applicable law.

3

Non GAAP Information

To supplement the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the

company uses non-GAAP financial measures such as adjusted net income and adjusted earnings per share. Non-GAAP financial

measures exclude certain items, such as restructuring charges and recovery, change in fair value of embedded derivatives, AECL

arbitration and legal fees, loss and gains on sales of investments, loss or gains on discontinued operations, and tax effects on

adjusted items. Management uses non-GAAP financial measures internally for strategic decision making, forecasting future

results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide

investors with a meaningful, consistent comparison of the company's core operating results and trends for the periods presented.

Non-GAAP financial measures are not prepared in accordance with GAAP. Therefore, the information is not necessarily

comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the

corresponding measures calculated in accordance with GAAP.

www.nordion.com

Fourth Quarter Fiscal 2012

Earnings Conference Call Steve West

Chief Executive Officer

January 28, 2013

5

29.0 42.6 48.5

89.4

122.8 101.0

103.6

108.7

95.4

0

50

100

150

200

250

300

2010 2011 2012

2012 Financial Highlights

Revenue Trend (US$ Millions)

*Key supplier down for repairs for 10 months in F2010

Medical Isotopes* Targeted Therapies Sterilization Technologies

6

Q4 2012 Results

10.9 12.0

30.6 30.3

32.5 32.3

0

10

20

30

40

50

60

70

80

2011 2012 Q4 Q4

Targeted Therapies Sterilization Technologies Medical Isotopes

Segmented Revenue (US$ millions)

Segmented Earnings* (US$ millions)

* Excludes corporate segmented loss

2.2 2.8

11.4 11.2

14.5 16.7

0

5

10

15

20

25

30

35

2011 2012

7

F2012 Timeline

8 2

01

3 O

UT

LO

OK

Targeted Therapies: TheraSphere®

Build the Targeted Therapies

business.

• 14% full fiscal year-

over-year revenue

growth

• Drove new account

growth in key

markets

• TheraSphere® is

used in

approximately 200

sites in 14 countries

around the world

• Support

TheraSphere®

growth by expanding

sales and marketing

function in Europe

and Asia-Pacific

• Invest in

TheraSphere®

growth and

expansion by

conducting clinical

trials

STRATEGY

Q4

RE

SU

LT

S

9 2

01

3 O

UT

LO

OK

STRATEGY

Specialty Isotopes: Sterilization Technologies

Maintain cash generation

and selectively invest in

growth.

• $32.3 million in Q4

revenues; Co-60

revenues of $31.0

million increased 10%

over Q4 fiscal 2011

• Long-term supply

agreements provide

visibility into customer

demand

• Majority of the contracts

provide for increasing

revenue over the course

of the contract term

• Maintain market-

leading position and

continue generating

high margins

• Strengthen

relationships with

current customers and

enter into new and

emerging markets

• Selectively grow

gamma sterilization

sales over the long-

term

Q4

RE

SU

LT

S

10 2

01

3 O

UT

LO

OK

STRATEGY

Q4

RE

SU

LT

S

Specialty Isotopes: Medical Isotopes

Optimize the value of the business.

• $30.3 million in Q4

revenues, a 1%

decrease compared

with Q4 fiscal 2011

• Reactor isotopes

revenue was $24.8

million in Q4 fiscal

2012, an increase of

$2.9 million or 13%

over Q4 2011

• Nordion is an important

player in the medical

isotopes supply chain –

vital to physicians and

patients around the

world

• Maintain medical

isotopes sales by

working closely with

existing customers to

bring additional value

• Explore strategic

opportunities for

cyclotron based

medical isotopes

• Assess opportunities

to obtain reliable and

long-term supply of

medical isotopes

www.nordion.com

Fourth Quarter Fiscal 2012

Earnings Conference Call Peter Dans

Chief Financial Officer

January 28, 2013

12

Q4 2012 Financial Performance

Targeted

Therapies

Sterilization

Technologies

Medical

Isotopes

CONSOLIDATED RESULTS

• Q4 revenue of $74.7 million

• GAAP net loss of $43.5 million

• Adjusted net income of $21.4 million up 14%

over Q4 2011

• Gross margin percentages strengthened to

59%, up from 57% over 2011

• Earnings up 6% to $29.5 million in Q4 2012

on a consolidated business segment basis

*EXCLUDES CORPORATE SEGEMENTED LOSS

Q4 Segmented Revenue

(US$ millions)

Q4 Segmented Earnings*

(US$ millions)

10.9 12.0

30.6 30.3

32.5 32.3

0

20

40

60

80

2011 2012

2.2 2.8

11.4 11.2

14.5 16.7

0

10

20

30

40

2011 2012

13

Business Segments

OVERVIEW & FINANCIAL

OUTLOOK – Targeted Therapies

• Revenue grew 10% in Q4 2012 over Q4 2011;

segment earnings were up 28%

• 2012 revenue grew to $48.5 million, up 14%

compared with 2011

• TheraSphere® revenue is expected to grow in the

mid-teen percentage range in fiscal 2013

• Phase III clinical trial spending is expected to be in

the range of $6-8 million in fiscal 2013

• Significant additional investments in fiscal 2013 to

support TheraSphere® long-term global growth

14

Business Segments

OVERVIEW & FINANCIAL

OUTLOOK – Specialty Isotopes:

Sterilization Technologies

• Cobalt revenue increased 10% to $31.0 million

in Q4 2012 over Q4 2011

• Segment earnings were up 15%

• In fiscal 2013, Sterilization Technologies

revenue is expected to be approximately the

same as in fiscal 2012; Co-60 revenue is

expected to be similar to fiscal 2012

• Fiscal 2013 quarterly profile of Co-60 revenue is

expected to be similar to fiscal 2012

• Currently, Nordion does not have orders for

production irradiators

15

Business Segments

OVERVIEW & FINANCIAL

OUTLOOK – Specialty

Isotope: Medical Isotopes

• Revenues of $30.3 million and earnings

of $11.3 million in Q4 for Reactor,

Cyclotron isotopes and contract

manufacturing

• Reactor isotopes revenue increased 13%

to $24.8 million

• Total Medical Isotopes revenue is

expected to decline approximately 20%

in fiscal 2013, compared with fiscal 2012

16

SOLID CASH AND LIQUIDITY POSITION

REFLECTED IN NOTABLE FINANCIAL ASSETS:

2012 in Review

$US millions

Deferred tax asset

$57

Cash and cash equivalents

$109.4 In January 2013, Nordion entered into an Amended and Restated

$80 million credit facility

www.nordion.com

Fourth Quarter Fiscal 2012

Earnings Conference Call January 28, 2013