Investor Presentation

1. Investor Presentation November 2010 Nasdaq: ICAD

2. Safe Harbor Statement Safe Harbor: This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, product market acceptance, possible technological obsolescence, increased competition, customer concentration and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe”, “demonstrate”, “intend”, “expect”, “estimate”, “anticipate”, “likely”, and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this presentation.

3. iCAD Inc. (Nasdaq: ICAD) 100% Dedicated to helping clinicians find the most prevalent cancers earlier, faster, and with greater confidence through unrivaled image analysis and clinical decision support systems. Nashua, NH

4. iCAD Overview iCAD develops leading edge Computer Aided Detection (CAD) solutions used to detect more cancers, earlier Mammography CAD MRI CAD CT CAD SpectraLookCAD for Breast MRI VividLookCAD for Prostate MRI VeraLook CAD for CT Colonography SecondLook Digital CAD for Mammography TotalLook MammoAdvantageDigitizer for Mammography

5. Experienced Healthcare Leadership

6. Sales and Marketing • Major OEM partners/distributers world wide • 20+ person dedicated sales force works in combination with OEMs • Ranked #1 in Mammography CAD by MD Buyline • Ranked #1 in System Reliability for 16 quarters by MD Buyline • New in 2010: All time high score in System Reliability (9.6 out of 10)

7. Organic Growth Strategy • Apply core competencies in disease detection and maximizing radiology workflow where: • There are established or emerging protocols for screening as a standard of care • It is clinically proven that screening has a significant impact on patient outcomes • There is an opportunity to lower healthcare costs • Screening is non-invasive or minimally invasive • Public awareness is high or growing • Expanding iCAD’s presence across the cancer care cycle with an emphasis on software solutions • Target radiologists, interventional radiologists, surgeons and radiation oncologists • Breast and prostate as top priority

8. Cancer Projections U.S. Estimated New Cancer Cases • Cancer is the second leading cause of death, only heart disease claim more lives • Cancer is the only major disease for which death rates are increasing • Strong public awareness is fueling demand for screenings • NIH estimates overall costs of cancer at $264 billion Source: 2010 American Cancer Society, Surveillance Research

9. iCAD in 2010Broad Product Portfolio to Address the Most Prevalent Cancers Computer Aided Detection Breast Chest Colon Prostate Launch WIP MRI Mammography CT VC/CTC MRI Integrated CAD solutions with Image Processing Stations Integrated CAD solutions with Image Processing Stations Integrated CAD solutions with Image Processing Stations Integrated CAD solutions with Image Processing Stations Film CR FFDM Integrated CAD solutions with Modality or Separate CAD Workstation

10. Mammography Update U.S. • ~ 8,700 certified mammography sites nationwide* • 39 million mammograms performed per year* • ~ 13,000 mammography cameras* • ~ 70% of mammography units have transitioned to digital* • CAD attachment rate to digital systems is >90% in US Currently Digital 70% Not Yet Digital 30% *Source: U.S. FDA MQSA Facility Scorecard – November 1, 2010

11. iCAD’s Next Generation Mammo CAD • Goal: Increase diagnostic confidence – better clinical decision support tool and workflow enhancer for radiologist • Improved sensitivity and false positive performance • Display of lesion metric information • New customers and existing installed base (4,000 systems)

12. Breast MRISizing the Opportunity Breast MRI is expected to grow significantly over the next five years, potentially nearing 1M procedures by 2010 • Breast MRI represents one of the fastest growing areas of outpatient imaging • Imaging departments across the country are preparing their MRI programs for increased volume. Outpatient Volume Forecast 2-3M 683K 2008 2013 Source: American Cancer Society, www.acs.org, 2008, Imaging Performance Partnership research and analysis.

13. Scientific evidence is growing that advanced imaging technologies will improve early detection, eliminate unnecessary procedures, and provide accurate image guidance for biopsies (100+ studies) Congress approved bill contains $1.6M for prescreening research to improve prostate cancer imaging 5 studies in past year proving value of iCAD’s technology when used in conjunction with MRI Nearly one in six men over age 40 will be afflicted with prostate cancer in the U.S. and 10% of those new cases will be fatal Current standards for detecting prostate cancer are antiquated and subject to accuracy issues PSA’s false negative rates approach 15%, while only 12% of men with abnormal tests actually have cancer Biopsies miss at least 20% of all malignancies and under estimate the disease aggressiveness in up to 30% of men CAD for Prostate A Strong Emerging Opportunity

14. CAD with Virtual Colonoscopy • Colon cancer is 2nd leading cause of cancer death • 150,000 people will be diagnosed with colorectal cancer this year • 51,000 die each year • 95% of colon cancer deaths are preventable • Of the 80M+ Americans over 50 years old, less than 50% have been screened • Virtual Colonoscopy is as effective as optical colonoscopy (Acrin Study) • CAD increases radiologist detection rate (iCAD Reader Study) • iCAD is the 1st company to receive FDA clearance of CTC CAD • Reimbursement is growing *Source: 2008, American Cancer Society, Surveillance Research

15. iCAD Inorganic Growth Strategy After thorough analysis, we concluded that the oncology-focused strategy is the best path towards growth for a variety of reasons including: • Substantial synergies with our existing business and capabilities, enabling us to add value • iCAD has a strong position in women’s health with mammography and breast MRI CAD • Our CAD strategy focuses on the leading cancers: • Breast • Colon • Prostate • Lung

16. iCAD Oncology Strategy Within oncology, iCAD can leverage a near-term focus in breast and prostate cancer detection to create a broader cancer care cycle approach with an emphasis on software solutions. Mid-longer term focus to expand into other key tumor types Near term focus to build in breast and prostate cancers Note: Dotted lines around treatment and imaging modalities indicate growing / emerging focus of technologies; * Image-guided breast biopsy Source: L.E.K analysis

17. Financial Summary

18. Financial OverviewSummary Statements of Operations

19. Financial OverviewBalance Sheet

20. Trading Information(as of 11/10/10) • Trading Volume • Average trading volume as of (3 months) 125,853 daily • Shares • 45.9 million shares outstanding • 52 Week Valuation Range • $58M - $112M • 52 week price range of $1.26 - $2.44 • Ownership • ~18% institution ownership • ~13% insider ownership

21. Summary

22. Well Positioned for the Future Leadership position with CAD and workflow software solutions for Breast, Prostate and Colon Cancer Today • New Systems • Installed Base Upgrades • Service Agreements Expand iCAD’s oncology strategy across the care continuum with an emphasis on software solutions Short/Long Term • Detection • Diagnosis • Treatment • Follow-up monitoring • Broad portfolio of high gross margin solutions • Targeting high growth segments of oncology • Strong synergies with customer call point and OEM partners Increasing Shareholder Value