Novocure (NVCR) overview - updated July 2018

 
Novocure (NVCR) overview - updated July 2018
Novocure (NVCR)
overview
updated July 2018
Novocure (NVCR) overview - updated July 2018
forward-looking statements
This presentation contains certain forward-looking statements with respect to the business of Novocure and certain of its plans and objectives, including with respect
to the development and commercialization of its lead product candidate, Optune, for a number of oncology indications. These forward-looking statements can be
identified in this presentation by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words “expect”, “intend”,
“anticipate”, “plan”, “may”, “should”, “would”, “could” or other words of similar meaning. These statements are based on assumptions and assessments made by
Novocure in light of industry experience and perception of historical trends, current conditions, expected future developments and other appropriate factors. By their
nature, forward-looking statements involve risk and uncertainty, and Novocure's performance and financial results could differ materially from those expressed or
implied in these forward-looking statements due to general financial, economic, regulatory and political conditions as well as more specific risks and uncertainties
facing Novocure such as those set forth in its Annual Report on Form 10-K filed on February 22, 2018, or in subsequent quarterly filings with the U.S. Securities and
Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary
materially from those described in this presentation. Novocure assumes no obligation to update or correct the information contained in this presentation, whether as
a result of new information, future events or otherwise, except to the extent legally required.

The statements contained in this presentation are made as at the date of this presentation, unless some other time is specified in relation to them, and service of this
presentation shall not give rise to any implication that there has been no change in the facts set out in this presentation since such date. Nothing contained in this
presentation shall be deemed to be a forecast, projection or estimate of the future financial performance of Novocure, except where expressly stated.

As of the date of this presentation, Optune is only FDA-approved for the treatment of adults with supratentorial glioblastoma, or GBM, and its approval for other
indications is not certain. Novocure can provide no assurances regarding market acceptance of Optune or its successful commercialization, and can provide no
assurances regarding the company’s results of operations or financial condition in the future. This presentation is for informational purposes only and may not be
relied upon in connection with the purchase or sale of any security.

                                                                                                                                                         © Novocure 2018   2
Novocure (NVCR) overview - updated July 2018
Optune® indications for use and
important safety information
INDICATIONS
• Optune is intended as a treatment for adult patients (22 years of age or older) with histologically-confirmed glioblastoma multiforme
  (GBM).
• Optune with temozolomide is indicated for the treatment of adult patients with newly diagnosed, supratentorial glioblastoma following
  maximal debulking surgery, and completion of radiation therapy together with concomitant standard of care chemotherapy.
• For the treatment of recurrent GBM, Optune is indicated following histologically-or radiologically-confirmed recurrence in the
  supratentorial region of the brain after receiving chemotherapy. The device is intended to be used as a monotherapy, and is intended as an
  alternative to standard medical therapy for GBM after surgical and radiation options have been exhausted.
CONTRAINDICATIONS
• Do not use Optune in patients with an active implanted medical device, a skull defect (such as, missing bone with no replacement), or
  bullet fragments. Use of Optune together with implanted electronic devices has not been tested and may theoretically lead to
  malfunctioning of the implanted device. Use of Optune together with skull defects or bullet fragments has not been tested and may
  possibly lead to tissue damage or render Optune ineffective.
• Do not use Optune in patients that are known to be sensitive to conductive hydrogels. In this case, skin contact with the gel used with
  Optune may commonly cause increased redness and itching, and rarely may even lead to severe allergic reactions such as shock and
  respiratory failure.

                                                                                                                              © Novocure 2018   3
Novocure (NVCR) overview - updated July 2018
Optune® indications for use and
important safety information
WARNINGS AND PRECAUTIONS
• Optune can only be prescribed by a healthcare provider that has completed the required certification training provided by Novocure (the
  device manufacturer).
• Do not prescribe Optune for patients that are pregnant, you think might be pregnant or are trying to get pregnant, as the safety and
  effectiveness of Optune in these populations have not been established.
• The most common (≥10%) adverse events involving Optune in combination with temozolomide were thrombocytopenia, nausea,
  constipation, vomiting, fatigue, medical device site reaction, headache, convulsions, and depression.
• The most common (≥10%) adverse events seen with Optune monotherapy were medical device site reaction and headache.
• The following adverse reactions were considered related to Optune when used as monotherapy: medical device site reaction, headache,
  malaise, muscle twitching, fall and skin ulcer.
• Use of Optune in patients with an inactive implanted medical device in the brain has not been studied for safety and effectiveness, and use
  of Optune in these patients could lead to tissue damage or lower the chance of Optune being effective.
• If the patient has an underlying serious skin condition on the scalp, evaluate whether this may prevent or temporarily interfere with Optune
  treatment.

                                                                                                                                © Novocure 2018   4
Novocure (NVCR) overview - updated July 2018
a global oncology company
  with a proprietary platform
  GROWING COMMERCIAL BUSINESS                     SIGNIFICANT UPSIDE POTENTIAL
  • More than 2,100 patients on therapy           • Increase adoption and average
  • 14 consecutive quarters of patient growth       reimbursement in GBM
  • $217 million trailing twelve month revenues   • Advance clinical pipeline in five additional
                                                    solid tumor indications
Information above as of June 30, 2018

                                                                                           © Novocure 2018   5
Novocure (NVCR) overview - updated July 2018
we can leverage physics to fight cancer
                AN ELECTRIC FIELD           TUMOR TREATING FIELDS USES ELECTRIC FIELDS
       EXERTS FORCES ON CHARGED OBJECTS             TO DISRUPT CELL DIVISION

+ + + + + + + + + + + + + + +

                  -
      +                                     MISALIGNED                              MISALIGNED
                 +                           TUBULINS         ALTERNATING             SEPTINS
                                          INTERFERE WITH     ELECTRIC FIELDS      INTERFERE WITH
                                           FORMATION OF      DISRUPT CANCER        FORMATION OF
                                          MITOTIC SPINDLE     CELL DIVISION      CONTRACTILE RING
- - - - - - - - - - - - - - -

TUMOR TREATING FIELDS
DESCRIBES ELECTRIC FIELDS
THAT ALTERNATE 100,000 TO
300,000 TIMES PER SECOND
TO TARGET CANCER CELLS
                                                            CANCER CELL DEATH

                                                                                © Novocure 2018   6
Novocure (NVCR) overview - updated July 2018
broad applicability to solid tumors
INDICATIONS                           IN-VITRO EVIDENCE   IN-VIVO EVIDENCE   FIRST IN HUMAN EVIDENCE
Glioblastoma
Malignant melanoma
Non-small cell lung cancer
Pancreatic cancer
Breast cancer
Mesothelioma
Ovarian carcinoma
Renal adenocarcinoma
Cervical cancer
Colorectal carcinoma
Ependymoma
Gastric adenocarcinoma
Gliosarcoma
Hepatocellular carcinoma
Medulloblastoma
Meningioma
Small cell lung cancer
Urinary transitional cell carcinoma

                                                                                         © Novocure 2018   7
Novocure (NVCR) overview - updated July 2018
proven superior long-term survival with
    Optune® plus temozolomide in GBM1
                          1.0                                                                     Median OS from
                                                                 Intent-to-treat population1                                                    20.9                  16.0
                                                                                                                                                                     16.0
                          0.9
                                                                                                  randomization (months)
                                                                          Optune® + TMZ (n=466)
                          0.8                                             TMZ alone (n=229)       Stratified log-rank                               p=0.00006
Probability of survival

                          0.7                                                                     HR (95% CI)                                  0.63 (0.53-0.76)
                                                             Optune® + TMZ
                                                                                                  Median OS from                                24.5                  19.8
                          0.6                                   43%                               diagnosis (months)
                                                                                                                                                24.5                  19.8
                          0.5
                                                               p=0.001
                          0.4                                                                          Optune® + TMZ
                                        TMZ alone
                          0.3                                                                              13%
                                         31%
                          0.2                                                                            p=0.0037

                          0.1
                                                                                                                        1. Stupp R, Taillibert S, Kanner A, et al. Effect of Tumor-

                                0   6   12     18       24       30      36   42    48     54     60
                                                                                                           5%              Treating Fields Plus Maintenance Temozolomide vs
                                                                                                                           Maintenance Temozolomide Alone on Survival in
                          0.0
                                                                                                                           Patients With Glioblastoma: A Randomized Clinical
                                                    Overall Survival (months)                           TMZ alone          Trial. JAMA. 2017;318(23):2306–2316.

                                                                                                                                                          © Novocure 2018             8
Novocure (NVCR) overview - updated July 2018
Optune® plus temozolomide consistently
 sustained superior rates of survival1
FIVE-YEAR SURVIVAL INTENT-TO-TREAT ANALYSIS
                      100%
                                p=0.029
                      90%                                                                                                                                                        Optune® + TMZ (n=466)
                      80%                                                                                                                                                         TMZ alone (n=229)
                      70%
                             73%
  Survival rate (%)

                      60%                                                 p=0.001
                                             65%
                      50%
                      40%                                                                                           p=0.004
                                                                      43%                                                                                    p=0.0002
                      30%
                                                                                       31%                                                                                                             p=0.004
                      20%                                                                                       26%
                                                                                                                                                          20%
                       10%                                                                                                       16%
                                                                                                                                                                           8%                       13%
                                                                                                                                                                                                                     5%
                       0%
                                       1                                         2                                         3                                        4                                         5
                                                                                                    Year from randomization
1. Stupp R, Taillibert S, Kanner A, et al. Effect of Tumor-Treating Fields Plus Maintenance Temozolomide vs Maintenance Temozolomide Alone on Survival in Patients With Glioblastoma: A Randomized Clinical Trial. JAMA.
   2017;318(23):2306–2316.

                                                                                                                                                                                                                  © Novocure 2018   9
Novocure (NVCR) overview - updated July 2018
patients with increased compliance
 had increased survival benefit1
                                                                                                                                                    • A trend in favor of longer overall
                                                                                                                                                      survival was seen with higher
                                                                                                                                                      compliance
                                                                                                                                                    • A threshold value of 50% average
                                                                                                                                                      monthly compliance with Tumor
                                                                                                                                                      Treating Fields was needed to show an
                                                                                                                                                      extension of overall survival (HR 0.67,
                                                                                                                                                      95% CI 0.45–0.99) compared to
                                                                                                                                                      temozolomide alone
                                                                                                                                                    • Both progression-free survival and
                                                                                                                                                      overall survival were extended with
                                                                                                                                                      increased compliance beyond 50%
1. Ram Z, Kim CY, Nicholas GA and Toms S on behalf of EF-14 investigators. Compliance and treatment duration predict survival in a phase 3 EF-14 trial of Tumor Treating Fields with temozolomide in patients with newly diagnosed
   glioblastoma. Presented at: 2017 Society for Neuro Oncology; November 16-19, 2017; San Francisco, CA. Oral presentation ACTR-27.

                                                                                                                                                                                                                © Novocure 2018      10
five-year survival analysis in
 most compliant patients (>90%)1
                                                                                                                                          100%
                                                                                                                                                                           Optune > 90% compliance + temozolomide (n=43)
                                                                                                                                          90%
                                                                                                                                                                            temozolomide alone (n=229)
                                                                                                                                          80%    86%

                                                                                                                                          70%

                                                                                                                      Survival rate (%)
                                                                                                                                          60%              65%

                                                                                                                                          50%                    55%

                                                                                                                                          40%

                                                                                                                                          30%
                                                                                                                                                                           31%    29%             29%                 29%
                                                                                                                                          20%

                                                                                                                                           10%                                              16%
                                                                                                                                                                                                            8%                  5%
                                                                                                                                           0%
                                                                                                                                                       1               2                3               4                   5
                                                                                                                                                                       Year from randomization
1. Ram Z, Kim CY, Nicholas GA and Toms S on behalf of EF-14 investigators. Compliance and treatment duration predict survival in a phase 3 EF-14 trial of Tumor Treating Fields with temozolomide in patients with newly diagnosed
   glioblastoma. Presented at: 2017 Society for Neuro Oncology; November 16-19, 2017; San Francisco, CA. Oral presentation ACTR-27.

                                                                                                                                                                                                                 © Novocure 2018     11
NCCN guidelines updated in March 2018
                                                                                                                       The updated NCCN Clinical Practice Guidelines in
                                                                                                                       Oncology (NCCN Guidelines®) for Central Nervous
                                                                                                                       System Cancers now include alternating electric field
                                                                                                                       therapy (Optune) in combination with temozolomide
                                                                                                                       (TMZ) following maximal safe resection and standard
                                                                                                                       brain radiation therapy with concurrent TMZ as
                                                                                                                       Category 1 recommended treatment option for
                                                                                                                       patients with newly diagnosed supratentorial
                                                                                                                       glioblastoma (GBM) and good performance status.*
                                                                                                                       There is uniform NCCN consensus for this
                                                                                                                       recommendation based on high-level evidence
                                                                                                                       (Category 1).

* The NCCN defines good performance as Karnofsky Performance Score (KPS) ≥60. The trial for which the IFU is based used an eligibility criteria of KPS ≥70.

                                                                                                                                                                 © Novocure 2018   12
ADULT PATIENTS WITH RECURRENT AND NEWLY DIAGNOSED GBM

global commercial presence
global active markets as of June 30, 2018

                                                            EMEA
                    UNITED STATES
                                        EMEA
                                                            10
                    806                 266
                                                            sales force
                                                            colleagues
                    certified centers
                                        certified centers                               JAPAN
      UNITED STATES
                                                                                        174
      51                                                                                certified centers
      sales force
      colleagues                                                          JAPAN

                                                                          4                                 certified centers

                                                                          sales force                       sales force colleagues
                                                                          colleagues

                                                                                                                © Novocure 2018      13
steady prescription growth in newly diagnosed GBM

1000                                                                                      KEY TAKEAWAYS
900
                                                                                          • ~75% of Q2 prescriptions were
800                                                                             ~75%
                                                                               of total
                                                                                            written for patients with newly
700
                                                                                            diagnosed GBM
600                                              ~65%
500                                             of total                                  • We believe growth is a sign of
400                                                                                         increasing physician
300
        ~50%
                                                                                            confidence and belief
200    of total

 100
  0
       Q3 2016    Q4 2016   Q1 2017   Q2 2017   Q3 2017    Q4 2017   Q1 2018   Q2 2018

                                                 Prescriptions for newly diagnosed GBM

                                                                                                                 © Novocure 2018   14
continued growth in active patients
active patients at period end
2500

                                                                                                                  2,169
                                                                                                                          14
                                                                                                                          CONSECUTIVE QUARTERS
                                                                                                          2,009
2000                                                                                                                      OF ACTIVE PATIENT GROWTH
                                                                                                1,834                     SINCE INITIAL PRESENTATION
                                                                                        1,683                             OF EF-14 DATA
1500
                                                                                1,460
                                                                        1,266

                                                                                                                          8,000+
                                                                1,091
                                                         985
1000                                             891
                                        797
                                605
                425     469
 500    372                                                                                                               PATIENTS TREATED
                                                                                                                          TO DATE GLOBALLY

  0
       Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018

                          U.S. active patients         EMEA active patients       Japan active patients

                                                                                                                                        © Novocure 2018   15
advancing clinical pipeline
                                           PHASE II   PHASE III
                             PRECLINICAL    PILOT     PIVOTAL                                   MILESTONES

         Brain metastases                                         METIS trial last patient in 2019 with final data collection in 2020

Non-small cell lung cancer                                        LUNAR trial last patient in 2019 with final data collection in 2021

        Pancreatic cancer                                         PANOVA 3 trial last patient in 2020 with final data collection in 2022

           Ovarian cancer                                         phase three pivotal trial open in 2H 2018

            Mesothelioma                                          STELLAR trial data presentation in 2H 2018

              Liver cancer                                        HEPANOVA trial first patient in 2H 2018

                                                                                                               Trial ongoing   Trial complete

                                                                                                                           © Novocure 2018   16
demonstrated financial performance
global net revenues (USD in thousands)

                                                                                                                                                 60%
$70,000

                                                                                                                                       $61,514
$60,000
                                                                                                                   $53,661
                                                                                                                             $52,125
                                                                                                         $50,109
$50,000
                                                                                                                                                 Q2 2018 VERSUS Q2 2017
                                                                                                                                                 YEAR-OVER-YEAR
$40,000                                                                                        $38,376
                                                                                     $34,880                                                     REVENUE GROWTH
                                                                           $30,242
$30,000
                                                                 $21,674
$20,000                                                $17,919

                                                                                                                                                 $219
                                     $12,383 $13,053
$10,000                     $8,953
          $5,208   $6,543

    $0
          Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018
                                                                                                                                                 MILLION IN CASH AND
                     $33,087                             $82,888                                 $177,026                                        SHORT-TERM EQUIVALENTS
                                                                                                                                                 AS OF JUNE 30, 2018
                      FY 2015                             FY 2016                                 FY 2017
                            U.S. net revenues              EMEA net revenues                    Japan net revenues

                                                                                                                                                           © Novocure 2018   17
q2 2018 selected financial highlights
                                                                                 %           Q2 2018           Q2 2017         %
U.S. DOLLARS IN THOUSANDS                        Q2 2018          Q2 2017      CHANGE         YTD               YTD          CHANGE
Net revenues                                 $    61,514      $     38,376         60%   $    113,639      $     73,256              55%
Cost of revenues                                  19,833            13,152         51%         38,071            24,816              53%
Gross profit                                       41,681           25,224         65%         75,568            48,440              56%
 Research, development and clinical trials        11,362             9,371         21%         22,466            18,782              20%
 Sales and marketing                              19,196            16,360         17%         37,331            31,116              20%
 General and administrative                       18,208            15,023         21%         35,533            27,445              29%
Total operating costs and expenses                48,766            40,754         20%         95,330            77,343              23%
Operating income (loss)                            (7,085 )         (15,530)       54%         (19,762 )        (28,903)             32%
Financial expenses, net                             2,860             2,183        31%           7,713            4,629              67%
Income (loss) before income taxes                  (9,945)          (17,713)       44%         (27,475)          (33,532)            18%
Income taxes                                        5,565             3,461        61%           8,759             5,687             54%
Net income (loss)                            $    (15,510)    $     (21,174)       27%   $    (36,234)     $     (39,219)             8%
Cash and cash equivalents                    $   114,456      $     80,190               $    114,456      $     80,190
Short-term investments                           104,499           104,186                    104,499           104,186

                                                                                                                         © Novocure 2018   18
long term value creation beyond 2018

 near-term            • Drive commercial adoption of Optune within GBM
 opportunity          • Expand coverage for GBM patients in currently active markets and

 2018-                  establish access for GBM patients in new markets
                      • Progress mesothelioma towards commercialization

 2021                 • Advance the clinical pipeline in multiple solid tumor indications
                      • Grow annual revenues while improving SG&A operating leverage

                      • Launch Tumor Treating Fields platform for additional indications in
 long-term              large addressable markets
 opportunity              o Brain metastases from non-small cell lung cancer

 2021+                    o Non-small cell lung cancer
                          o Pancreatic cancer

                          o Ovarian cancer

                                                                                 © Novocure 2018   19
commercial
appendix
direct-to-patient distribution model*

   PHYSICIAN SENDS                           PHYSICIAN OR        NOVOCURE          NOVOCURE           NOVOCURE BILLS      PHYSICIAN SEES
   PRESCRIPTION                              NOVOCURE USES       DELIVERS OPTUNE   PROVIDES 24/7      THIRD-PARTY         PATIENT FOR
   ORDER TO                                  NOVOTAL SYSTEM TO   AND TRAINS        TECH SUPPORT AND   PAYER AND           REGULAR
   NOVOCURE                                  CREATE ARRAY        PATIENT/FAMILY    SUPPLIES           PATIENT1 FOR EACH   COMPLIANCE
                                             PLACEMENT MAP                         TRANSDUCER         MONTH OF            MONITORING AND
                                                                                   ARRAYS             THERAPY             FOLLOW-UP
                                                                                                                          APPOINTMENTS

                                                                                      NOVOCURE

* Novocure distributes product through hospitals in Japan.
1. Subject to patient assistance programs.

                                                                                                                               © Novocure 2018   21
established U.S. commercial market access

                                                      >217    MILLION COVERED LIVES
                                                              IN THE U.S. AS OF

              96%
                                                              MARCH 31, 2018

                                                      >187    MILLION CONTRACTED LIVES
                                                              IN THE U.S. AS OF
                                                              MARCH 31, 2018
                                                      1. U.S. population insured with employers, non-
      OF AMERICANS WITH PRIVATE HEALTH INSURANCE1,2      group insurance or Medicare Advantage plans
            NOW HAVE POSITIVE COVERAGE OF OPTUNE      2. Appealing Medicare fee-for-service denials,
                                                         impacting 20-25% of U.S. active patients

                                                                                     © Novocure 2018    22
expanding global commercial market access
                                                                                                             GBM MARKET SIZE
MARKET           STATUS                      REIMBURSEMENT STATUS                                              ESTIMATION

                                        POSITIVE NATIONAL REIMBURSEMENT DECISIONS
                 Commercial launch                                                                          1,500 annual cases
Japan                                        National reimbursement contract signed in Q4 2017
                 in Q1 2018                                                                                 diagnosed
                 Commercial launch                                                                          340 annual cases
Austria                                      National reimbursement contract signed in Q3 2017
                 in Q4 2017                                                                                 diagnosed
         ONGOING DIALOGUES WITH GOVERNMENT PAYERS IN THE UNITED STATES, GERMANY, SWITZERLAND AND ISRAEL
                 No material payments from                                                                  12,500 annual
United States                                In active discussions with CMS administration
                 Medicare to date                                                                           cases diagnosed
                 Receive reimbursement on    Pathway for national reimbursement established Q3 2017         3,600 annual cases
Germany
                 case-by-case basis          via G-BA budgeted clinical trial (expected to begin 2H 2018)   diagnosed
                                                                                                            330 annual cases
Switzerland      Single-payer system         Pursuing national reimbursement
                                                                                                            diagnosed
                 No material payments                                                                       325 annual cases
Israel                                       Pursuing national reimbursement
                 to date                                                                                    diagnosed

                                                                                                                 © Novocure 2018   23
clinical
appendix
evolving treatment paradigms
for solid tumor cancers
     USED ALONE OR IN COMBINATION TO TREAT SOLID TUMORS

      surgery                radiation              pharmacological            tumor treating fields
                                                    treatments                 (TTFields)

     • Reduces size of a     • Kills cells when     • Includes chemotherapy,   • Electric fields tuned to
       tumor prior to          delivered at high      targeted therapies         specific frequencies
       initiation of           doses                  and immuno-oncology      • Disrupts solid tumor
       additional            • Injures healthy      • Many treatments            cancer cell division
       therapies               tissues as well as     target specific          • Mild side effect profile
     • Invasive to patient     cancer cells           patient subgroups          with no known
     • Unable to kill        • Numerous             • Frequently                 cumulative toxicity
       microscopic             potentially toxic      accompanied by
       disease                 side effects           numerous side effects

                                                                                                            © Novocure 2018   25
TTFields are frequency-tuned to cell size
to maximize effects on mitosis
EFFECTS ON CELLS ARE FREQUENCY SPECIFIC AND INVERSELY RELATED TO CELL SIZE

Normal Intestine   Pancreatic        NSCLC              Ovarian Cancer       GBM
                   Cancer

~50 kHz            150 kHz            150 kHz           200 kHz              200 kHz

                                                                                       © Novocure 2018   26
transducer array placement
     abdominal         torso             pelvic
     array placement   array placement   array placement

                                                           © Novocure 2018   27
addressing large market segments with
 significant unmet medical needs
                BRAIN                                                           NON-SMALL CELL                                                                 PANCREATIC                                                                     OVARIAN
                                                                                                                                                                                                                                                                                                        MESOTHELIOMA
              METASTASES                                                         LUNG CANCER                                                                     CANCER                                                                       CANCER

    258,000                                                                 659,000                                                                   223,000                                                                   100,000                                                            13,000
         CASES DIAGNOSED                                                         CASES DIAGNOSED                                                          CASES DIAGNOSED                                                           CASES DIAGNOSED                                                     CASES DIAGNOSED
         ANNUALLY IN TARGET                                                      ANNUALLY IN                                                              ANNUALLY IN                                                               ANNUALLY IN                                                         ANNUALLY IN
         MARKETS1                                                                TARGET MARKETS3-5                                                        TARGET MARKETS3-5                                                         TARGET MARKETS3-5                                                   TARGET MARKETS3,6-7

    ~25%                                                                    24%                                                                       8%                                                                        47%                                                                9%
         OF NSCLC PATIENTS                                                       FIVE YEAR               SURVIVAL3                                         FIVE YEAR               SURVIVAL3                                        FIVE YEAR               SURVIVAL3                                   FIVE YEAR SURVIVAL3
         DEVELOP BRAIN METS2
1. Goetz P, Ebinu JO, Roberge D, Zadeh G. Current Standards in the Management of Cerebral Metastases. Intl J of Surg Onc. 2012;2012:493426. doi:10.1155/2012/493426. 2. Owen S, Souhami L. The management of brain metastases in non-small cell lung cancer. Frontiers in Oncology. 2014;4:248. doi:10.3389/fonc.2014.00248. 3. Howlader N, Noone
AM, et al. SEER Cancer Statistics Review, 1975-2014, National Cancer Institute. Bethesda, MD, https://seer.cancer.gov/csr/1975_2014/, based on November 2016 SEER data submission, posted to SEER web site, April 2017. 4. Ferlay J, Steliarova-Foucher E, et al. Cancer incidence and mortality patterns in Europe: estimates for 40 countries in 2012. Eur J
Cancer. 2013;49(6):1374-403. doi: 10.1016/j.ejca.2012.12.027. 5. WHO (2016) GLOBOCAN 2012: Estimated Cancer Incidence, Mortality, and Prevalence Worldwide in 2012, Lyon, France (accessed January 2018). 6. Peto J, Decarli A, La Vecchia C, Levi F, Negri E. The European mesothelioma epidemic. Br J Cancer 1999;79:666 –72. doi:
10.1038/sj.bjc.6690105. 7. Robinson B.M. Malignant pleural mesothelioma: an epidemiological perspective. Ann Cardiothorac Surg. 2012; 1(4): 491–496. doi: 10.3978/j.issn.2225-319X.2012.11.04.

                                                                                                                                                                                                                                                                                                                        © Novocure 2018                          28
FIRST LINE TREATMENT OF MALIGNANT PLEURAL MESOTHELIOMA

phase 2 pilot STELLAR trial
A prospective, open label, single-arm, non-randomized, multicenter study testing safety and preliminary efficacy of
TTFields at 150 kHz in combination with pemetrexed and cisplatin or carboplatin in patients with previously untreated
malignant pleural mesothelioma versus historical controls
• 80 patients in Europe with unresectable, previously untreated malignant mesothelioma
• Last patient enrolled March 2017 with twelve month follow-up
• Endpoints:
  o Primary endpoint — overall survival (OS)

  o Secondary endpoints — progression free survival (PFS), response rate, treatment-emergent toxicity

Novocure, Ltd. Safety and Efficacy of TTFields (150 kHz) Concomitant With Pemetrexed and Cisplatin or Carboplatin in Malignant Pleural Mesothelioma (STELLAR) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of
Medicine (US). 2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT02397928. NLM Identifier: NCT02397928

                                                                                                                                                                                                                   © Novocure 2018    29
FIRST LINE TREATMENT OF MALIGNANT PLEURAL MESOTHELIOMA

phase 2 pilot STELLAR trial interim results
                                                                                                                  TTFIELDS WITH
                                                                                                                PEMETREXED AND                                       PEMETREXED AND
                                                                                                                   CISPLATIN OR                                      CISPLATIN-ALONE
EFFICACY ENDPOINTS                                                                                                CARBOPLATIN 1                                  HISTORICAL RESULTS 2
Median PFS                                                                                                              7.3 months                                                  5.7 months
Median OS                                                                                                          Not yet reached                                                 12.1 months
One-year survival rate                                                                                                       79.7%                                                       50.3%

 • Interim data for the first 42 patients, with average follow-up of 11.5 months, presented at IASLC 2016
 • Final top-line results, announced April 2018, exceeded interim analysis for all efficacy endpoints
    o Anticipate presentation of final results at a medical conference in 2H 2018
    o Plan to submit Humanitarian Device Exemption application to the FDA in 2H 2018

Novocure, Ltd. Safety and Efficacy of TTFields (150 kHz) Concomitant With Pemetrexed and Cisplatin or Carboplatin in Malignant Pleural Mesothelioma (STELLAR) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of
Medicine (US). 2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT02397928. NLM Identifier: NCT02397928
1. Cerasoli, G.L. International Association for the Study of Lung Cancer. OA22.01 – STELLAR – Interim Results of a Phase 2 Trial of TTFields with Chemotherapy for First Line Treatment of Malignant Mesothelioma. Oral Session: Novel
   Trials and Biomarkers in Malignant Pleural Mesothelioma. Wednesday, Dec. 7, 2016, 2:20 p.m. CET
2. Vogelzang N.J., Rusthoven J.J., Symanowski J., et al. Phase III Study of Pemetrexed in Combination With Cisplatin Versus Cisplatin Alone in Patients With Malignant Pleural Mesothelioma J Clin Oncol. 2003 Jul 15;21(14):2636–44. doi:
   10.1200/JCO.2003.11.136

                                                                                                                                                                                                                  © Novocure 2018            30
FIRST LINE TREATMENT OF MALIGNANT PLEURAL MESOTHELIOMA

phase 2 pilot STELLAR trial interim results
  PROGRESSION-FREE SURVIVAL (N=42)1                                                                                     OVERALL SURVIVAL (N=42) 1

Novocure, Ltd. Safety and Efficacy of TTFields (150 kHz) Concomitant With Pemetrexed and Cisplatin or Carboplatin in Malignant Pleural Mesothelioma (STELLAR) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of
Medicine (US). 2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT02397928. NLM Identifier: NCT02397928
1. Cerasoli, G.L. International Association for the Study of Lung Cancer. OA22.01 – STELLAR – Interim Results of a Phase 2 Trial of TTFields with Chemotherapy for First Line Treatment of Malignant Mesothelioma. Oral Session: Novel
   Trials and Biomarkers in Malignant Pleural Mesothelioma. Wednesday, Dec. 7, 2016, 2:20 p.m. CET

                                                                                                                                                                                                                  © Novocure 2018        31
BRAIN METASTASES FROM NON-SMALL CELL LUNG CANCER

METIS phase 3 pivotal trial initiated in 2016
A prospective, randomized controlled, multicenter trial testing efficacy, safety and neurocognitive outcomes of
TTFields at 150 kHz following stereotactic radiosurgery for 1-10 brain metastases from non-small cell lung cancer
•    270 patients internationally, randomized 1:1 (TTFields vs supportive care)
•    Last patient enrollment expected in 2019, twelve month follow-up after final patient enrollment
•    Primary endpoint — time to first intracranial progression
•    Secondary endpoints include neurocognitive failure, overall survival, radiological response rate
                                                             randomization 1:1

                                                                                          stereotactic
                                                                                                                                             ttfields                                  MRI q2m until progression
                                                                                          radiosurgery
screening and baseline
      evaluation
                                                                                          stereotactic
                                                                                                                                     supportive care                                   MRI q2m until progression
                                                                                          radiosurgery

Novocure, Ltd. Effect of TTFields (150 kHz) in Non-small Cell Lung Cancer (NSCLC) Patients With 1-10 Brain Metastases Following Radiosurgery (METIS) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US).
2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT02831959. NLM Identifier: NCT02831959

                                                                                                                                                                                                                    © Novocure 2018         32
SECOND LINE TREATMENT FOR ADVANCED NON-SMALL CELL LUNG CANCER

phase 2 pilot EF-15 trial
A prospective, open label, single-arm, non-randomized, multicenter study testing safety and preliminary efficacy of
TTFields at 150 kHz in combination with pemetrexed in pretreated patients with locally advanced and/or metastatic
non-small cell lung cancer versus historical controls
• 42 patients in Switzerland with locally advanced and/or metastatic non-small cell lung cancer
• Last patient enrolled May 2011 with six month follow-up, data published in Lung Cancer in 2013

                                                                                                                   TTFIELDS WITH                               PEMETREXED-ALONE
EFFICACY ENDPOINTS                                                                                                  PEMETREXED 1                              HISTORICAL RESULTS 2
Median in-field PFS                                                                                                      6.5 months                                                              n/a
Median PFS                                                                                                                   5 months                                            2.9 months
Median OS                                                                                                              13.8 months                                               8.3 months
One-year survival rate                                                                                                                  57%                                                 29.7%
Novocure, Ltd. NovoTTF-100L in Combination With Pemetrexed (Alimta®) for Advanced Non-small Cell Lung Cancer In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 May]. Available
from: https://clinicaltrials.gov/ct2/show/NCT00749346. NLM Identifier: NCT00749346
1. Pless M., Droege C., von Moos R., et al. A phase I/II trial of Tumor Treating Fields (TTFields) therapy in combination with pemetrexed for advanced non-small cell lung cancer. Lung Cancer. 2013 Sep;81(3):445-50. doi:
   10.1016/j.lungcan.2013.06.025
2. Hanna N., Shepherd F.A., Fossella F.V., et al. Randomized Phase III Trial of Pemetrexed Versus Docetaxel in Patients With Non–Small-Cell Lung Cancer Previously Treated With Chemotherapy. J Clin Oncol. 2004 May 1;22(9):1589-97.
   doi: 10.1200/JCO.2004.08.163

                                                                                                                                                                                                              © Novocure 2018           33
SECOND LINE TREATMENT FOR ADVANCED NON-SMALL CELL LUNG CANCER

 LUNAR phase 3 pivotal trial initiated in 2017
A prospective, randomized controlled, multicenter trial testing efficacy and safety of TTFields at 150 kHz in combination with
docetaxel or immune checkpoint inhibitors for stage IV NSCLC patients following progression while on or after platinum based
treatment
•    534 patients (TTFields plus docetaxel or immune checkpoint inhibitors vs docetaxel or immune checkpoint inhibitors alone)
•    Last patient enrollment expected in 2019, eighteen month follow-up after final patient enrollment
•    Primary endpoint – overall survival (OS) (superiority)
•    Secondary endpoints –
      o OS of TTFields + docetaxel vs docetaxel alone (superiority)
      o OS of TTFields + immune checkpoint inhibitors vs immune checkpoint inhibitors alone (superiority)
      o OS of TTFields + docetaxel vs immune checkpoint inhibitors alone (non-inferiority)

                                                                                                         ttfields + immune                                                             three post-
                                                                                 randomization
                                                                                                                                                   CT q6w until                                                             survival
                                                                                                             checkpoint                                                                progression
                                                                                                                                                   progression                                                             follow up
progression on or                           screening and                                               inhibitor/docetaxel                                                          follow-up visits
                                                                                      1:1

 after platinum-                               baseline
  based therapy                               evaluation                                                                                                                               three post-
                                                                                                       immune checkpoint                           CT q6w until                                                             survival
                                                                                                                                                                                       progression
                                                                                                        inhibitor/docetaxel                        progression                                                             follow up
                                                                                                                                                                                     follow-up visits
Novocure, Ltd. Effect of Tumor Treating Fields (TTFields) (150 kHz) as Second Line Treatment of Non-small Cell Lung Cancer (NSCLC) in Combination With PD-1 Inhibitors or Docetaxel (LUNAR) In: ClinicalTrials.gov [Internet]. Bethesda
(MD): National Library of Medicine (US). 2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT02973789. NLM Identifier: NCT02973789

                                                                                                                                                                                                                 © Novocure 2018          34
LOCALLY ADVANCED AND METASTATIC PANCREATIC CANCER

 phase 2 pilot PANOVA trial
A prospective, open label, single-arm, non-randomized, multicenter study testing feasibility, safety and preliminary
efficacy of TTFields at 150 kHz in combination with gemcitabine or gemcitabine plus nab-paclitaxel in patients with
advanced pancreatic cancer versus historical controls
• 40 patients (2 cohorts of 20 patients) in Europe with advanced pancreatic cancer
• Last patient enrolled May 2016 with six month follow-up
                                                                                                                                                                                     TTFIELDS WITH                                   NAB-PACLITAXEL +
                                                                          TTFIELDS WITH                             GEMCITABINE-ALONE                                               NAB-PACLITAXEL                                       GEMCITABINE
EFFICACY ENDPOINTS                                                         GEMCITABINE 1                            HISTORICAL RESULTS 2                                            + GEMCITABINE 3                               HISTORICAL RESULTS 2
Median PFS                                                                      8.3 months                                                 3.7 months                                  12.7 months                                                       5.5 months
Median OS                                                                      14.9 months                                                 6.7 months                               Not yet reached                                                      8.5 months
One-year survival rate                                                                55%                                                        22%                                            72%                                                            35%
Partial response rate                                                                 30%                                                         7%                                            40%                                                            23%
Stable disease                                                                        30%                                                        28%                                            47%                                                            27%
Novocure, Ltd. Safety Feasibility and Effect of TTFields (150 kHz) Concomitant With Gemcitabine or Concomitant With Gemcitabine Plus Nab-paclitaxel for Front-line Therapy of Advanced Pancreatic Adenocarcinoma (PANOVA) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National
Library of Medicine (US). 2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT01971281. NLM Identifier: NCT01971281
1. Rivera F., et al. PANOVA: A pilot study of TTFields concomitant with gemcitabine for front-line therapy of advanced pancreatic adenocarcinoma. In: 2016 Gastrointestinal Cancers Symposium; 2016 Jan 21-23; San Francisco, CA. Alexandria (VA): ASCO; 2016. Abstract 682.
2. Von Hoff D.D., Ervin T., Arena F.P., et al. Increased Survival in Pancreatic Cancer with nab-Paclitaxel plus Gemcitabine. N Engl J Med. 2013 Oct 31;369(18):1691-703. doi: 10.1056/NEJMoa1304369
3. Benavides M. et.al. PANOVA: A phase II study of TTFields (150kHz) concomitant with standard chemotherapy for front line therapy of advanced pancreatic adenocarcinoma In: Proceedings of the 107th Annual Meeting of the American Association for Cancer Research; 2017 Apr
    1-5; Washington, DC. Philadelphia (PA): AACR; 2017. Abstract CT130.

                                                                                                                                                                                                                                                       © Novocure 2018                 35
LOCALLY ADVANCED PANCREATIC CANCER

PANOVA 3 pivotal trial initiated in 2017
A prospective, randomized controlled, multicenter trial testing efficacy and safety of TTFields at 150 kHz in
combination with nab-paclitaxel plus gemcitabine as first-line treatment in patients with unresectable, locally
advanced pancreatic cancer
• 556 patients internationally, randomized 1:1 (TTFields plus nab-paclitaxel plus gemcitabine vs nab-paclitaxel plus
  gemcitabine alone)
• Last patient enrollment expected in 2020, eighteen month follow-up after final patient enrollment
• Primary endpoint – overall survival (OS)
• Secondary endpoints include PFS, objective response rate, rate of resectability, quality of life
                                               randomization 1:1

                                                                   ttfields + nab-paclitaxel                       CT q8w until                                second line
                                                                                                                                                                                                        survival follow up
                                                                         + gemcitabine                             progression                                chemotherapy
 screening and baseline
       evaluation
                                                                      nab-paclitaxel +                             CT q8w until                                second line
                                                                                                                                                                                                        survival follow up
                                                                       gemcitabine                                 progression                                chemotherapy

Novocure, Ltd. Effect of Tumor Treating Fields (TTFields, 150 kHz) as Front-Line Treatment of Locally-advanced Pancreatic Adenocarcinoma Concomitant With Gemcitabine and Nab-paclitaxel (PANOVA-3) In: ClinicalTrials.gov [Internet].
Bethesda (MD): National Library of Medicine (US). 2000-[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT03377491. NLM Identifier: NCT03377491

                                                                                                                                                                                                              © Novocure 2018            36
RECURRENT OVARIAN CANCER

 phase 2 pilot INNOVATE trial
A prospective, open label, single-arm, non-randomized, multicenter study testing feasibility, safety, toxicity and
preliminary efficacy of TTFields at 200 kHz in combination with weekly paclitaxel in patients with recurrent ovarian
cancer versus historical controls
• 30 patients in Europe with recurrent ovarian cancer
• Last patient enrolled May 2016 with six month follow-up

                                                                                                                        TTFIELDS                                    PACLITAXEL-ALONE
EFFICACY ENDPOINTS                                                                                              WITH PACLITAXEL 1                                 HISTORICAL RESULTS 2

Median PFS                                                                                                                   8.9 months                                              3.9 months*
Median OS                                                                                                          Not yet reached                                                  13.2 months
One-year survival rate                                                                                                                      61%

Novocure, Ltd. Safety, Feasibility and Effect of TTFields (200 kHz) Concomitant With Weekly Paclitaxel in Recurrent Ovarian Carcinoma (INNOVATE) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-
[cited 2018 May]. Available from: https://clinicaltrials.gov/ct2/show/NCT02244502. NLM Identifier: NCT02244502
1. Vergote I., et.al. INNOVATE: a phase II study of TTFields (200 kHz) concomitant with weekly paclitaxel for recurrent ovarian carcinoma. In: Proceedings of the 107th Annual Meeting of the American Association for Cancer Research;
    2017 Apr 1-5; Washington, DC. Philadelphia (PA): AACR; 2017. Abstract CT135.
2. Poveda A.M., Selle F., Hiplert F. et al. Bevacizumab Combined With Weekly Paclitaxel, Pegylated Liposomal Doxorubicin, or Topotecan in Platinum-Resistant Recurrent Ovarian Cancer: Analysis by Chemotherapy Cohort of the
    Randomized Phase III AURELIA Trial. J of Clin Onc. 2015 Nov 10;33(32):3836-8. doi: 10.1200/JCO.2015.63.1408. * Median PFS reflects the weekly paclitaxel subgroup; Median PFS for all chemotherapies was 3.4 months

                                                                                                                                                                                                                    © Novocure 2018           37
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