Novocure (NVCR) overview

updated February 2017

© Novocure 2017 2

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 23, 2017, 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 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 2017

contents

3

company overview

mechanism of action

EF-14 clinical data

commercial execution

clinical development

financial highlights

company overview

© Novocure 2017

PATIENT-FORWARD MISSION

about novocure

Global Organization

Proven Lead Product

Rich Clinical Pipeline

5

• Headquartered in Jersey • Four currently active

commercial markets (United States, Germany, Switzerland and Japan)

• Research facility in Israel • Ownership of IP and sole

distribution rights of Tumor Treating Fields

• 450+ employees globally

• Approved in the U.S., EMEA and Japan for the treatment of glioblastoma (GBM)

• Supported by successful EF-14 phase 3 pivotal trial

• Broadly applicable mechanism of action across multiple solid tumor types

• Recruiting for phase 3 pivotal trials in brain metastases and non-small cell lung cancer

• Completed or ongoing phase 2 pilot trials in: • Pancreatic cancer • Ovarian cancer • Mesothelioma

© Novocure 2017 6

three strategic objectives

Drive commercial adoption of Optune

Focus on improving operating leverage

Advance the clinical pipeline

© Novocure 2017

2016: a year of significant achievement

7

DRIVE COMMERCIAL ADOPTION OF OPTUNE

Consistently delivered active patient and revenue growth

Substantial improvements in coverage and contracting for U.S. lives

Presented long-term analysis of EF-14 data

Received regulatory approval for newly diagnosed GBM in Japan

Completed global launch of the second generation Optune System

ADVANCE THE CLINICAL PIPELINE

First patient enrolled in phase 3 pivotal trial in brain metastases Completed phase 2 pilot trials in pancreatic and ovarian cancer Presented interim results from phase 2 pilot trial in mesothelioma

© Novocure 2017

2017 anticipated milestones

8

DRIVE COMMERCIAL ADOPTION OF OPTUNE

• Continue to deliver active patient and revenue growth

• Switzerland reimbursement

• Japan reimbursement

ADVANCE THE CLINICAL PIPELINE

First patient enrollment in LUNAR phase 3 pivotal trial in NSCLC

• Presentation and publication of phase 2 pilot trial results for pancreatic

and ovarian cancer

• Final patient enrollment in STELLAR phase 2 pilot trial in mesothelioma

• First patient enrollment in phase 3 pivotal trial in pancreatic cancer

mechanism of action

© Novocure 2017 10

A COMPLETELY DIFFERENT APPROACH TO ANTI-CANCER THERAPY

tumor treating fields

SURGERY RADIATION PHARMACOLOGICAL TREATMENTS

TUMOR TREATING FIELDS (TTFIELDS)

• Most frequently employed therapy

• Reduces size of a tumor prior to initiation of additional therapies

• Kills cells when delivered at high doses

• Injures healthy tissues with numerous potential toxic side effects

• Includes chemotherapy, targeted therapies and immuno-oncology

• Limited by potential side effects

• Resistance can develop over time

• Low-intensity, alternating electric fields

• Mild side effect profile • No known cumulative

toxicity • Can be used in

combination with other treatment modalities

USED TO TREAT SOLID TUMORS FOR OVER 100 YEARS

© Novocure 2017 11

15+ years of preclinical research • Deep understanding of the underlying mechanism of TTFields

• Continuing investment in mechanism of action substantiation and applications

© Novocure 2017

Earth

ELECTRIC FIELDS

exert force on charges & polarized molecules

Charged Plates

GRAVITATIONAL FIELDS MAGNETIC FIELDS

Magnet

exert force on masses exert force on iron & other magnets

electric fields exert forces on electrically polarized molecules

12

uniform field

© Novocure 2017

ELECTRIC FIELDS

exert force on charges & polarized molecules

non-uniform field

dielectrophoresis

GRAVITATIONAL FIELDS MAGNETIC FIELDS

Earth

exert force on masses exert force on iron & other magnets

Charged Plates Magnet Earth

electric fields exert forces on electrically polarized molecules

13

© Novocure 2017

frequency of electric fields determines their biological effect

M E D I C A L E X A M P L E S

Low Frequencies less than 1 kHz

Depolarization of excitable cells (eg, neurons, cardiac

myocytes, skeletal muscle cells)

cardiac defibrillator/pacemaker electromyography

Intermediate Frequencies 100 to 500 kHz

Inhibition of cell proliferation Increased cell death

Tumor Treating Fields

High Frequencies greater than 1,000 kHz

Tissue heating

diathermy radiofrequency ablation

14

© Novocure 2017

TTFields impact metaphase NORMAL METAPHASE EFFECT OF TTFIELDS

ON METAPHASE

tubulin subunits have a high dipole moment

uniform electric field

mitotic spindle

tubulin subunits align properly,

forming a normal mitotic spindle

tubulin subunits align with TTFields

misaligned tubulin disrupts mitotic spindle

15

© Novocure 2017

TTFields impact telophase NORMAL TELOPHASE

cleavage furrow

dielectrophoresis movement of polar cellular

components due to electric field non-uniform electric field

EFFECT OF TTFIELDS ON TELOPHASE

16

© Novocure 2017

TTFields are frequency-tuned to cell size to maximize effects on mitosis

17

Normal Intestine

~50 kHz

Pancreatic Cancer

150 kHz

NSCLC

150 kHz

Ovarian Cancer

200 kHz

GBM

200 kHz

EFFECTS ON CELLS ARE FREQUENCY SPECIFIC AND INVERSELY RELATED TO CELL SIZE

© Novocure 2017 18

• Battery or wall-powered electric field generator

• Single-use transducer arrays replaced 2–3

times/week

• Should be used at least 18 hours/day

• Mild side-effect profile, no known systemic

toxicity

TTFields are delivered via a non-invasive, portable medical device

© Novocure 2017 19

broad applicability to solid tumors

EF-14 clinical data

© Novocure 2017 21

COMBINATION THERAPY FOR NEWLY DIAGNOSED GBM

EF-14 phase 3 pivotal trial initiated in 2009 A prospective, multicenter trial of TTFields together with temozolomide compared to standard-of-care

temozolomide alone in patients with newly diagnosed GBM

• 83 centers; 695 newly diagnosed GBM patients randomized 2:1 (TTFields plus TMZ vs TMZ alone)

• Treated until second progression or 24 months

• Pre-specified interim analysis 18 months after enrollment of the 315th patient

• Endpoints:

• Primary endpoint — progression-free survival (PFS) (intent to treat)

• Secondary endpoint — overall survival (OS) (as treated)

surgery/ biopsy RT (45–70 Gy) +

TMZ

enrollment window

(4–7 weeks after RT + TMZ)

ran

do

miz

atio

n 2

:1

TTFields + TMZ (6 cycles)

MRI q2m until progression

TTFields + second line chemo

TMZ (6 cycles) MRI q2m until progression

second line chemo

Novocure, Ltd. Effect of NovoTTF-100A Together With Temozolomide in Newly Diagnosed Glioblastoma Multiforme (GBM) In: ClinicalTrials.gov [Internet]. Bethesda (MD): National Library of Medicine (US). 2000-[cited 2016 Dec]. Available from: https://clinicaltrials.gov/ct2/show/NCT00916409. NLM Identifier: NCT00916409

© Novocure 2017

EF-14 LONG-TERM ANALYSIS: INTENT-TO-TREAT POPULATION

EF-14 progression free survival OPTUNE + TMZ

(n=466)1,2 TMZ ALONE

(n=229) 1,2 Median PFS from randomization, mo 6.7 4.0

95% CI, mo 6.1-8.1 3.8-4.3

Stratified log-rank p<0.0001

HR2 (95% CI) 0.63 (0.52-0.76)

Median PFS from diagnosis, mo

11.2 7.8

*Both interim and long-term analyses are protocol prespecified.1,2

TMZ, temozolomide; ITT, intent-to-treat; PFS, progression-free survival; CI confidence interval; HR, hazard ratio. 1. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st Annual

Meeting; November 17-20, 2016; Scottsdale, AZ. 2. Stupp R, et al; on behalf of EF-14 trial investigators. SNO Abstract LTBK-01. Neuro-

Oncology. 2016. In press.

22

© Novocure 2017 23

EF-14 LONG-TERM ANALYSIS: INTENT-TO-TREAT POPULATION

EF-14 overall survival OPTUNE + TMZ

(n=466) 1,2 TMZ ALONE

(n=229) 1,2 Median OS from randomization, mo 20.8 16.0

95% CI, mo 19.0-22.6 13.9-18.2

Stratified log-rank p<0.0006

HR (95% CI) 0.65 (0.54-0.79)

Median OS from diagnosis, mo

24.5 19.8

*Both interim and long-term analyses are protocol prespecified.1,2

TMZ, temozolomide; ITT, intent-to-treat; OS, overall survival; CI, confidence interval; HR, hazard ratio. 1. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st

Annual Meeting; November 17-20, 2016; Scottsdale, AZ. 2. Stupp R, et al; on behalf of EF-14 trial investigators. SNO Abstract LTBK-01. Neuro-

Oncology. 2016. In press. 3. Novocure Data on File OPT-118.

© Novocure 2017 24

EF-14 LONG-TERM ANALYSIS

EF-14 subgroup analysis SUBGROUP NO. OF PATIENTS (%) HAZARD RATIO

MEDIAN SURVIVAL (MONTHS) OPTUNE + TMZ1 TMZ ALONE1

Overall 695 (100) 20.8 16 MGMT (central) Unmethylated 303 (44) 17.3 13.9 Methylated 213 (31) 29.7 21.2 Resection Biopsy 89 (13) 14.7 11.6 Partial 234 (34) 21.4 15.1 Gross total 372 (53) 22.6 18.5 Age <50 y 194 (28) 24.4 19.9 50+ y 501 (72) 19.8 15.3 KPS 90-100 457 (67) 22.7 17.8 <80 228 (33) 14.7 11 Sex Female 222 (32) 24.4 18.5 Male 473 (68) 19 15.5

OPTUNE + TMZ BETTER TMZ ALONE BETTER

0 0.25 0.5 0.75 1.25 1.5 1.75 2.00 1 TMZ, temozolomide; MGMT, O6-methylguanine-DNA methyltransferase; KPS, Karnofsky Performance Score. 1. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st Annual

Meeting; November 17-20, 2016; Scottsdale, AZ.

© Novocure 2017

EF-14 LONG-TERM ANALYSIS

70% IMPROVEMENT IN SURVIVAL WITH TTFIELDS + TMZ (17%) VERSUS TMZ ALONE (10%) AT 4 YEARS (P=0.028)1,2

EF-14 long-term survival rates

TMZ, temozolomide; ITT, intent-to-treat. 1. Stupp R, et al; on behalf of EF-14 trial investigators. [SNO Abstract LTBK-01]. Neuro-Oncology. 2016. In press. 2. Stupp R, et al; on behalf of EF-14 trial investigators. Slides presented at: SNO 21st Annual Meeting; November 17-20, 2016; Scottsdale, AZ.

25

commercial execution

© Novocure 2017 27

ADULT PATIENTS WITH RECURRENT AND NEWLY DIAGNOSED GBM

global commercial presence

United States • 835 active patients • 490 certified centers • 49 sales force

colleagues

Germany, Switzerland & other EMEA markets • 256 active patients • 155 certified centers • 10 sales force

colleagues Japan • No active patients • 131 certified centers • 2 sales force

colleagues

global active markets as of December 31, 2016

© Novocure 2017 28

direct to patient distribution model Physician sends prescription order to Novocure

Physician or Novocure uses NovoTAL System to create array placement map

Novocure delivers Optune and trains patient/family

Novocure provides 24/7 tech support and supplies transducer arrays

Novocure bills third-party payer and patient1 for each month of therapy

Physician sees patient for regular compliance monitoring and follow-up appointments

1 Subject to patient assistance programs

© Novocure 2017 29

q4 2016 operating statistics Q4 2016 Q4 2015 % GROWTH FY 2016 FY 2015 % GROWTH

Prescriptions 706 557 27% 2,808 1,777 58%

United States 544 499 9% 2,344 1,607 46%

Germany, Switzerland and other EMEA Markets 162 56 189% 463 167 177%

Japan - 2 - 1 3 N/A

Active patients at period end 1,091 605 80%

United States 835 529 58%

Germany, Switzerland and other EMEA Markets 256 74 246%

Japan - 2 N/A

• Growth driven primarily by commercial activities in the U.S. after the October 2015 FDA approval of Optune for the treatment of newly

diagnosed GBM, increased commercial activities in Germany, and enhanced awareness of Optune following the December 2015

publication of EF-14 phase 3 pivotal trial results in JAMA™

• Year-over-year increase in active patients was driven both by prescription growth and by an increase in the percentage of newly

diagnosed GBM patients who started Optune in prior periods

© Novocure 2017

0

200

400

600

800

1000

1200

Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016

225

372 425

469

605

797 891

985

1,091

30

active patient growth global active patients at period end

8 CONSECUTIVE QUARTERS OF ACTIVE PATIENT GROWTH SINCE PRESENTATION OF EF-14 DATA

U.S. active patients EMEA and Japan active patients

© Novocure 2017 31

expanding market access

31

• As of January 1, 2017, payers administering plans for more than 180

million U.S. lives had issued positive coverage policies

• As of January 1, 2017, contracts negotiated to establish Optune as an

in-network benefit for more than 130 million U.S. lives

• Appealing Medicare fee-for-service denials, impacting 20-25% of U.S.

active patients

• Improvement in case-by-case reimbursement in Germany; pursuing

defined reimbursement

• Pursuing broad reimbursement in Switzerland and Japan

>180 MILLION COVERED LIVES IN THE U.S.

>130 MILLION CONTRACTED LIVES IN THE U.S.

© Novocure 2017 32

revenue growth global net revenue by quarter

151% REVENUE GROWTH 2016 VERSUS 2015

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016

$3,801 $5,208

$6,543

$8,953

$12,383 $13,053

$17,919

$21,674

$30,242

U.S. active patients EMEA and Japan active patients

clinical development

Actor Portrayal

© Novocure 2017 34

ongoing clinical trials

PRE-CLINICAL

PHASE 2 PILOT

PHASE 3 PIVOTAL EXPECTED NEXT MILESTONE

INDICATIONS

Brain Metastases METIS trial last patient in 2019

NSCLC LUNAR trial last patient in 2019

Pancreatic Cancer phase three pivotal trial first patient in 2017

Ovarian Cancer finalization of phase three pivotal trial design

Mesothelioma STELLAR trial last patient in 2017

© Novocure 2017 35

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 in advanced non-small cell lung cancer patients with 1-10 brain metastases

• 270 patients internationally, randomized 1:1 (TTFields vs supportive care) • Last patient enrollment expected in 2019, twelve month follow-up after final patient enrollment • Endpoints:

• Primary endpoint — time to first cerebral progression • Secondary endpoints include neurocognitive failure, overall survival, radiological response rate

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 2017Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT02831959. NLM Identifier: NCT02831959

© Novocure 2017 36

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 of TTFields at 150 kHz to estimate efficacy and determine safety together with pemetrexed in pretreated patients with locally advanced 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 • Primary endpoint – severity and frequency of adverse events

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 2017Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT00749346. NLM Identifier: NCT00749346 1. Pless M, et al. Lung Cancer. 2013;81(3):445-50. doi: 10.1016/j.lungcan.2013.06.025 2. Hanna N, Shepherd FA, Fossella FV, Pereira JR, De Marinis F, von Pawel J, et al. J Clin Oncol 2004;22(9):1589–97. doi: 10.1200/JCO.2004.08.163

EFFICACY ENDPOINTS

TTFIELDS WITH PEMETREXED2

PEMETREXED-ALONE HISTORICAL RESULTS3

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 2017 37

ADVANCED 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 together with gemcitabine or gemcitabine plus nab-paclitaxel in patients with advanced pancreatic cancer versus historical controls

• 40 patients in Europe with locally advanced or metastatic pancreatic cancer • First cohort (n=20) of TTFields at 150 kHz with gemcitabine • Second cohort (n=20) of TTFields at 150 kHz with gemcitabine and nab-paclitaxel

• Last patient enrolled May 2016 with six month follow-up • Endpoints:

• Primary endpoint – severity and frequency of adverse events, as well as feasibility based on compliance with TTFields therapy

• Secondary endpoints include progression free survival, overall survival, overall response rate

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 2017 Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT01971281. NLM Identifier: NCT01971281

© Novocure 2017 38

ADVANCED PANCREATIC CANCER

phase 2 pilot PANOVA trial

EFFICACY ENDPOINTS

FIRST COHORT1

TTFIELDS WITH GEMCITABINE

GEMCITABINE-ALONE

HISTORICAL RESULTS2

SECOND COHORT

TTFIELDS WITH NAB-PACLITAXEL

PLUS GEMCITABINE

NAB-PACLITAXEL

PLUS GEMCITABINE HISTORICAL

RESULTS2

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%

1. First cohort analysis presented at ASCO GI in January 2016, with first cohort subgroup analysis presented at ASCO in June 2016. 2. Von Hoff D., et al. N Engl J Med 2013; 369:1691-1703 October 31, 2013. doi: 10.1056/NEJMoa1304369

© Novocure 2017 39

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 together 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 • Primary endpoint – severity and frequency of adverse events

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 2017 Jan]. Available from: https://clinicaltrials.gov/ct2/show/NCT02244502. NLM Identifier: NCT02244502 1. Pujade-Laurain E., et al. J of Clin Onc. 2015; 33(32): 3836-3838. doi: 10.1200/jco.2015.63.1408 * Median PFS reflects the weekly paclitaxel subgroup; Median PFS for all chemotherapies was 3.4 months

EFFICACY ENDPOINTS

TTFIELDS WITH PACLITAXEL

PACLITAXEL-ALONE HISTORICAL RESULTS1

Median PFS 8.9 months 3.9 months*

Median OS Not yet reached 13.2 months

One-year survival rate 61%

© Novocure 2017 40

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 together 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 • Actively recruiting patients since February 2015, interim data presented at IASLC in December 2016 • Primary endpoint – overall survival (OS)

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 2017Jan]. 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 NJ, Rusthoven JJ, Symanowski J, et al. J Clin Oncol. 2003;21:2636–2644. doi: 10.1200/JCO.2003.11.136

EFFICACY ENDPOINTS

TTFIELDS WITH PEMETREXED AND

CISPLATIN OR CARBOPLATIN1

PEMETREXED AND CISPLATIN-ALONE

HISTORICAL RESULTS2

Median PFS 7.3 months 5.7 months

Median OS Not yet reached 12.1 months

One-year survival rate 79.7% 50.3%

© Novocure 2017 41

FIRST LINE TREATMENT OF MALIGNANT PLEURAL MESOTHELIOMA

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

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

financial highlights

© Novocure 2017

transition to accrual-based revenue recognition

43

• Increase in accrual-based revenue primarily due to increase in positive coverage polices and negotiated

contracts with health plans in the U.S.

• Gross billings reflect total charges for active patients on therapy without any deductions or adjustments for payer

discounts, patient financial assistance or charitable care

• Nineteen percent of fourth quarter gross billings qualified for accrual-based revenue recognition treatment

• Revenue recorded on an accrual basis during the full year 2016 was $8.5 million, including $4.0 million in net

revenues for which cash had not yet been collected as of December 31, 2016

• Revenue recorded on a cash basis during the full year 2016 was $74.4 million, a 125% increase year-over-year

2016 2015

U.S. DOLLARS IN MILLIONS q4 q3 q2 q1 q4 q3 q2 q1

Gross billings $ 63.8 $ 57.5 $ 54.0 $ 45.5 $ 34.5 $ 28.9 $ 26.6 $ 20.8

Revenue recorded on accrual basis $ 8.5 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0 $ 0.0

Cash basis revenue for therapy provided in the period 6.3 8.9 7.6 5.6 4.9 3.3 2.7 1.8

Cash basis revenue for therapy provided in previous period $ 15.5 $ 12.7 $ 10.3 $ 7.4 $ 7.5 $ 5.7 $ 3.8 $ 3.4

Net revenues $ 30.2 $ 21.7 $ 17.9 $ 13.1 $ 12.4 $ 9.0 $ 6.5 $ 5.2

© Novocure 2017 44

q4 2016 selected financial highlights U.S. DOLLARS IN THOUSANDS

q4 2016 q4 2015 % GROWTH

Net revenues $ 30,242 $ 12,383 144% Cost of revenues 10,973 6,304 74% Impairment of field equipment - - -

Gross profit 19,268 6,079 217%

Research, development and clinical trials 8,471 10,845 -22% Sales and marketing 15,678 14,724 6% General and administrative 12,997 11,116 17% Total operating costs and expenses 37,146 36,685 1%

Operating income (loss) (17,877 ) (30,606 ) 42% Financial expenses, net 2,854 875 226%

Income (loss) before income taxes (20,731 ) (31,481 ) 34% Income tax expense 1,437 1,447 -1%

Net income (loss) $ (22,168 ) $ (32,928 ) 33%

Cash and cash equivalents $ 99,780 $ 119,423 Short-term investments 119,854 150,001

© Novocure 2017 45

fy 2016 selected financial highlights U.S. DOLLARS IN THOUSANDS

fy 2016 fy 2015 % GROWTH

Net revenues $ 82,888 $ 33,087 151% Cost of revenues 39,870 20,610 94% Impairment of field equipment 6,412 -

Gross profit 36,606 12,477 193%

Research, development and clinical trials 41,467 43,748 -5% Sales and marketing 59,449 38,861 53% General and administrative 51,007 33,864 51% Total operating costs and expenses 151,923 116,473 30%

Operating income (loss) (115,317 ) (103,996 ) -11% Financial expenses, net 6,147 3,151 95%

Income (loss) before income taxes (121,464 ) (107,147 ) -13% Income tax expense 10,381 4,434 134%

Net income (loss) $ (131,845 ) $ (111,581 ) -18%

Cash and cash equivalents $ 99,780 $ 119,423 Short-term investments 119,854 150,001

appendix

© Novocure 2017 47

experienced senior leadership

Bill Doyle Executive Chairman

Asaf Danziger Chief Executive Officer

Wilco Groenhuysen Chief Financial Officer

Eilon Kirson, MD, PhD Chief Scientific Officer and

Head of Research & Development

Mike Ambrogi Chief Operating Officer

Peter Melnyk Chief Commercial Officer

Todd Longsworth General Counsel

Yoram Palti, MD, PhD Founder

© Novocure 2017 48

MONOTHERAPY TREATMENT FOR RECURRENT GBM

EF-11 overall survival OPTUNE (n=120)

CHEMOTHERAPY (n=117)

Median OS, months 6.6 6.0

HR and p value HR=0.86, p=0.27

4-year survival 8% 0%

n = 85 n = 13

© Novocure 2017 49

COMBINATION THERAPY FOR NEWLY DIAGNOSED GBM

In the EF-14 phase 3 pivotal trial in newly diagnosed GBM, quality of life, as measured through patient-

reported cognitive function and functional status, was maintained at twelve months for patients receiving

both TTFields and temozolomide compared to temozolomide alone.

• Quality of life was not adversely affected by the continuous use of TTFields

• Activities of daily living did not decline when TTFields were added to temozolomide therapy

• Cognitive function did not decline when TTFields were added to temozolomide therapy

quality of life maintained

Quality of Life, Cognitive Function and Functional Status in the EF-14 Trial: a Prospective, Multi-Center Trial of Tumor Treating Fields Together With Temozolomide (TMZ) Compared to TMZ Alone in Patients With Newly Diagnosed GBM, SNO presentation, (Friday, Nov. 20, 2:40-2:50 p.m., concurrent session 2A – clinical trials phase II/III, abstract: 0761)

© Novocure 2017 50

active patients drive revenue • Increase or decrease in active

patients in any given period

reflects the number of new

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patients discontinuing therapy

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prescription fill rate and the time

to fill the prescription

• The rate of patients

discontinuing therapy is

determined by the treatment

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