www.nordion.com

Third Quarter Fiscal 2012 Earnings Conference Call

Sept. 6, 2012

2

Caution on Forward Looking Statements

This presentation contains forward-looking statements, within the meaning of applicable securities laws, including under applicable Canadian securities laws and the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These statements can be identified by expressions of belief, expectation or intention, as well as those statements that are not historical fact. The words “may”, “will”, “could”, “should”, “would”, “outlook”, “believe”, “plan”, “anticipate”, “estimate”, “project”, “expect”, “intend”, “indicate”, “forecast”, “objective”, “optimistic”, and similar words and expressions are also intended to identify forward-looking statements. Forward-looking statements are necessarily based on estimates and assumptions made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate in the circumstances, but which are inherently subject to significant business, political, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Accordingly, this presentation is subject to the disclaimer and qualified by the assumptions, qualifications and risk factors referred to in our 2011 Annual Information Form (AIF). Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, fluctuations in supply and demand, pricing pressures and rising costs, changes in currency and exchange rates and potential adverse developments in new and pending legal proceedings or regulatory investigations, as well as the risk factors which are described in section 5 of our 2011 AIF and in our other filings with the Canadian provincial securities commissions and the US Securities and Exchange Commission, and our success in anticipating and managing those risks. We caution readers not to place undue reliance on the Company’s forward-looking statements, as a number of factors could cause our actual results, performance or achievements to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. The Company does not assume any obligation to update or revise any forward-looking statements, whether written or oral, that may be made from time to time by us or on our behalf, except as required by applicable law.

3

Non GAAP Information

To supplement the financial measures prepared in accordance with generally accepted accounting principles (GAAP), the company uses non-GAAP financial measures such as adjusted net income and adjusted earnings per share. Non-GAAP financial measures exclude certain items, such as restructuring charges and recovery, change in fair value of embedded derivatives, AECL arbitration and legal fees, loss and gains on sales of investments, loss or gains on discontinued operations, and tax effects on adjusted items. Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a meaningful, consistent comparison of the company's core operating results and trends for the periods presented. Non-GAAP financial measures are not prepared in accordance with GAAP. Therefore, the information is not necessarily comparable to other companies and should be considered as a supplement to, not a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.

www.nordion.com

Third Quarter Fiscal 2012 Earnings Conference Call

Steve West

Chief Executive Officer Sept. 6, 2012

5

Q3 2012 Results

13.3 15.3

21.4 19.7

32.1 32.1

0

10

20

30

40

50

60

70

80

2011 2012 Q3 Q3

Targeted Therapies Sterilization Technologies Medical Isotopes

Segmented Revenue (US$ millions)

Segmented Earnings* (US$ millions)

* Excludes corporate segmented loss

2.1 3.6

4.8

5.3

15.3 14.4

0

5

10

15

20

25

2011 2012

6

Arbitration Timeline

February 2006- Nordion exchanged all of its ownership rights and obligations in the MAPLE Facilities for a new 40 year long term supply of isotopes to be produced in the now AECL-owned MAPLE Facilities.

1998- MDS entered into an agreement with AECL for the design, development and construction of two new nuclear reactors and processing facility, known as the MAPLE project.

May 16, 2008 - AECL and the Government of Canada announced their intention to discontinue the MAPLE project without prior notice to or consultation with MDS

July 2008 - Nordion served AECL with a notice of arbitration proceedings seeking an order to compel AECL to fulfill its contractual obligations.

October 21, 2011 - Ongoing arbitration with AECL schedule extended.

September 10, 2012 - Nordion to announce arbitration panel decision

May 25, 2012 - Final arguments completed.

7

Internal Investigation

• Discovered through the Company’s own internal review as part of Nordion’s compliance program

• Voluntarily disclosed this issue to regulatory and enforcement

authorities

• Ceased payments to and terminated our contractual arrangements with the affected foreign supplier

8 20

12 O

UTL

OO

K

Targeted Therapies: TheraSphere®

Establish a leadership position in the emerging interventional oncology (IO) market

• 13% year-over-year revenue growth

• Drove new account growth in key markets

• TheraSphere demonstrated promising results in investigator initiated independent trials

• Growth of ~15% compared to F2011

• Continue to drive market education, training, sales growth

• Continue to assess and expand IO portfolio

STRATEGY

Q3 R

ESULTS

9 20

12 O

UTL

OO

K

STRATEGY

Sterilization Technologies

Maintain the value and selectively invest in growth opportunities

• $32.1 million in revenues

• Supply agreements representing two-thirds of our 2012 Co-60 volumes

• Signed multi-year supply agreement in June with Japan Radioisotope Association

• Segment revenue expected to be ~10% lower than F2011

• Co-60 revenue is expected to be significantly higher in the second half of 2012 compared with the first half

Q3 R

ESULTS

10 20

12 O

UTL

OO

K

STRATEGY

Q3 R

ESULTS

Medical Isotopes

Optimize the value of the business

• $19.7 million in revenues

• NRU one-month planned shutdown as well as unplanned supply interruptions in Q2 and Q3 impacted revenues

• Nordion is an important player in the medical isotopes supply chain – vital to physicians and patients around the world

• Solidify long-term supply

• Opportunistically grow our customer base for Medical Isotopes as potential new customers continue to diversify their supply

www.nordion.com

Third Quarter Fiscal 2012 Earnings Conference Call

Peter Dans

Chief Financial Officer Sept. 6, 2012

12

Q3 2012 Financial Performance

Q3

Q3

Targeted Therapies

Sterilization Technologies Medical Isotopes

CONSOLIDATED RESULTS • Revenue of $67.1 million

• GAAP net income of $12.3 million

• Adjusted net income of $15.5 million

SEGMENT RESULTS • 13% revenue growth in TheraSphere

• Co-60 shipments in Q3 higher than first half of fiscal 2012

• NRU shutdowns impacting volumes for Mo-99

* Excludes corporate segmented loss

13.3 15.3

21.4 19.7

32.1 32.1

0 10 20 30 40 50 60 70 80

2011 2012

Segmented Revenue (US$ millions)

Segmented Earnings* (US$ millions)

2.1 3.6 4.8

5.3

15.3 14.4

0

5

10

15

20

25

2011 2012

13

SOLID CASH AND LIQUIDITY POSITION REFLECTED IN NOTABLE FINANCIAL ASSETS:

Strong Balance Sheet

$US millions (as of July 31, 2012)

Cash & cash equivalents

$81.9 AECL note receivable

$2.3 Deferred tax asset

$76.7

14

Outlook

2012 FINANCIAL OUTLOOK HIGHLIGHTS

• TheraSphere, Cobalt-60 and Moly 99 are expected to:

– Contribute about 80% of our revenues – Greater than 90% of our segment gross

margins

www.nordion.com

Third Quarter Fiscal 2012 Earnings Conference Call

Sept. 6, 2012