ANNUAL RESEARCH REPORT 2022

Icon Group Chief Executive Officer Foreword

I’m pleased to present Icon Group’s Annual Research Report, which showcases our commitment to advancing cancer treatment and technology through our global clinical trials program.

With a growing global reach, Icon delivers Australia’s largest private cancer clinical trials program, bringing together more than 35 years’ experience and dedication, across medical oncology, haematology, and radiation oncology, as well as unique Icon Investigator Initiated Trials.

As a leading integrated cancer care provider, we’re acutely aware of the devastating impact of cancer on patients, their families, and communities around the world. Our Icon team’s mission is to bring the best care possible, to as many people as possible, as close to home as possible.

With expected increases in cancer cases, we’re committed to investing in research and continuing to be at the forefront of new and emerging treatments that benefit patients and communities and help reduce the global cancer burden. 2022 was another milestone year for Icon towards achieving our mission. We entered our next phase of growth with our new majority investors, EQT, a purpose-driven, Europeanbased global investor who share the same values and ambitions to deliver the best possible care to more people.

Through this shared commitment, we set a fiveyear global strategy for Icon to sustainably grow in existing and new geographies, drive future healthcare and deliver operational excellence for our patients, customers, and people. This strategy will once again see Icon turn the dial in private clinical trials and care.

In 2022, our research team and network of doctors demonstrated they have the knowledge, experience, and motivation to lead the way forward in oncology research and beyond. Together, the team recruited record numbers of patients to our clinical trials, continual growth across our Australia network and a stellar first year for our Singapore research team.

I would like to particularly acknowledge our out-going Director of Research, Dr John Bashford and one of our founding doctors, A/Prof Dusan Kotasek who both announced their well-deserved retirement. As an Icon founding doctor, John has been a driving force behind the evolution of private oncology practice and enabled us to lead the way in private clinical research. Similarly, Dusan is a pioneer of oncology and through his long and respected career, he has helped lead and evolve South Australia’s healthcare and clinical trials landscape. Thank you, John and Dusan for your leadership and commitment to care. Please read their tributes in this report to learn more about their incredible careers and the impact they have made to so many people.

Our research offering will continue to thrive under new directorship and a proven model that will see us reach more people and help deliver innovative therapies to improve the lives and outcomes of patients worldwide. I look forward to this time next year to again share how Icon is expanding the boundaries of what’s possible and changing lives one day at a time.

MARK MIDDLETON OAM Icon Group Chief Executive Officer

Executive Managerresearch Foreword

2022 welcomed further evolutions in our research direction and cemented the future of Icon’s extremely well-established clinical trials program. I’m really proud of what we’ve achieved together and how we’ve continued to deliver on our mission through the following key areas - expanding our Australian footprint, focussing on our Investigator Initiated Trials (IITs) and technical research, and growing our newly established Singapore portfolio.

Icon Cancer Centre Hobart had an incredible year under the local leadership of A/Prof Louise Nott. The team hit the ground running activating 20 trials across Phase II and III with 20 patients recruited. The introduction of trials at our Hobart centre has already made a difference to local cancer patients, providing them more access to local trials which previously required travel to Victoria. Similarly, our two Icon Gold Coast sites experienced a stellar year with the continued growth of radiation therapy trials and a passionate group of Principal Investigators keen to activate more IITs this year and beyond.

Last year highlighted our ability to deliver a robust clinical trials program across geographies while also innovating with a focus on IITs, within oncology, and exploring how radiation therapy can potentially benefit other diseases. Alongside our IIT growth we continued to deliver a strong Phase I program and support our longstanding medical oncology and haematology portfolio.

2022 also saw the opening of the Slade Health Drug Stability Testing and Research Laboratory, the firstof-its-kind in Australia which has and will no doubt significantly increase our capacity to contribute to advances in cancer care. Our pharmacy and compounding capability complements our technical research which has significant future potential. We’re extremely fortunate to have an incredible team of radiation therapists and medical physicists driving forward our research capabilities in this space, and alongside our five-year research agreement with Varian I’m confident this is only the start of what we can achieve together.

In its first year of delivering a dedicated research program, our Singapore team has made incredible progress. Under the leadership of Dr Hsieh Wen-Son and Director of Clinical Trials (ASEAN and Hong Kong), Joanne Chio, the team has launched new trials across medical oncology, including Icon’s first paediatric oncology trial, and signed several industry MOUs (Memorandums of Understanding) further extending our capabilities and reach across the ASEAN region.

The Singapore team’s achievements are an example of Icon’s ability to sustainably scale and grow within existing and new geographies and our future aspirations reflect our commitment to closing the care gaps in underserved communities. Through a focus on new geographies, molecular medicine and Real World Data, Icon is taking the next steps in research and broadening our capabilities to meet future cancer rates and lead evolutions in cancer care.

I would like to echo Mark’s sentiments and well wishes to Dr John Bashford and A/Prof Dusan Kotasek. John and Dusan are two incredible examples of exceptional clinicians. They both have an unwavering determination to advocate for clinical trials, increased collaboration, and improvements in patient care. Their knowledge, counsel and spirit will be sorely missed.

I would like to thank my senior leadership team, every member of research, our research partners, doctors, and investigators for championing clinical trials and going above and beyond to improve our services and how we care for our patients.

Executive Manager -

Mark and Sophie have outlined the great ongoing work of research at Icon and the bright future ahead. It is the essence of Icon’s commitment to provide exceptional patient care underpinned by investment in clinical trials. Our leadership in the care of our patients today and into the future comes from that commitment.

Last year we officially welcomed A/Prof Jonathan Ramsay as Co-Director of Research (Radiation Medicine). As one of the founders of Icon Group and a highly respected Radiation Oncologist with a passion for research, Jonathan has been instrumental in the strategic vision and direction of our radiation oncology trials. Under the newly named Radiation Medicine banner, Jonathan will also lead our molecular medicine strategy with a strong focus on theranostics and precision medicine, areas essential to future healthcare.

Looking forward it is now a time of leadership renewal with the retirement of both myself and A/ Prof Dusan Kotasek, one of the founders of Ashford Cancer Care Research (ACCR). Dusan established a private oncology clinical trials group in South Australia in 1997 and pioneered a successful framework and research model that would attract research partners and leading clinicians. The acquisition of ACCR in 2021 was an obvious alignment of our goals increasing our Phase I and overall research capacity. Dusan has been a visionary leader and his contribution to clinical research has been immense. I have been privileged to count him as a friend and colleague.

Announcing my own retirement was always going to be a difficult decision. Looking back at the achievements of 2022 and over the past 35 years, the milestones our team have achieved have been immense ranging from early adoption of many revolutionary treatments to the firm establishment of research as a basis for quality private medical practice. Obvious now in 2023 this was seen as an eccentric exception in 1990. I thank the many wonderful team members in this journey but particularly thank the really exceptional leadership team led by Sophie Mepham. I have absolute confidence in their ability to define a great future.

With a new generation of dedicated clinicians and an immensely capable global research team, research at Icon will continue to be the basis for best practice. As I move on to the next phase of my life and dedicate time to family, friends, and favourite causes I want to express my sincere gratitude to everyone who has been part of my career and particularly to my clinical and research colleagues. You have been a ‘true compass’ over the many years.

Thank you also to the Board and Executive of Icon for their strong belief and support of an endeavour that I’ve always regarded as the ‘invisible dividend’ on a balance sheet but a strong driver of overall success.

As always, my special thanks go to clinical trial patients and their families. Without their bravery, courage and support we cannot continue to advance cancer treatments and create a brighter future for all. It has been a true privilege to assist you in your very individual and challenging journeys.

DR

BASHFORD FRACP, FRCPA,

Co-Director of Research