• Revenue growth of 31%, with 7% constant currency organic growth
• Synergy Health integration on track
• Record revenue and earnings and fiscal 2016 outlook confirmed

LEICESTER, U.K. - February 9, 2016 - STERIS plc (NYSE: STE) ("STERIS" or the "Company") today announced financial results for its fiscal 2016 third quarter ended December 31, 2015. Fiscal 2016 third quarter revenue increased 31% to $618.7 million compared with $473.2 million for STERIS Corporation ("Old STERIS") in the third quarter of fiscal 2015, with 7% constant currency organic growth. As reported, operating income was $46.7 million, compared with operating income of $61.3 million for Old STERIS for the third quarter of fiscal 2015. As reported, net income was $20.0 million, or $0.26 per diluted share, compared with net income of $38.1 million, or $0.63 per diluted share for Old STERIS in the third quarter of fiscal 2015. All succeeding references to results from prior year periods are for Old STERIS.

Adjusted Results
Adjusted net income for the third quarter of fiscal 2016 was $76.2 million, or $0.98 per diluted share, compared with adjusted net income for the third quarter of the previous year of $47.7 million, or $0.79 per diluted share. The improvement in net income reflects the combination with Synergy Health, improved operating performance and a lower effective tax rate.

"Our performance in the third quarter reflects solid organic revenue growth and contributions from recent acquisitions," said Walt Rosebrough, President and Chief Executive Officer of STERIS. "The integration efforts for Synergy Health are progressing well, and we believe we are positioned to meet the record revenue and adjusted earnings full-year guidance we gave in December."

Segment Results
Beginning this quarter, STERIS is reporting four business segments:

• Healthcare Products - Infection prevention and procedural solutions for healthcare providers worldwide, including capital equipment and related maintenance and installation services, as well as consumables.
• Healthcare Specialty Services - A range of specialty services for healthcare providers including hospital sterilization services, instrument and scope repair, and linen management.
• Applied Sterilization Technologies - Contract sterilization and laboratory services for medical device and pharmaceutical Customers and others.
• Life Sciences - Capital equipment and consumable products, and equipment maintenance and specialty services, for pharmaceutical manufacturers and research.

Healthcare Products revenue grew 10% in the quarter to $317.1 million compared with $287.5 million in the third quarter of fiscal 2015 reflecting organic volume growth and acquisitions. Contributing to the quarter, consumable revenue grew 15%, capital equipment revenue increased 12% and service revenue grew 3%. Healthcare Products operating income was $52.1 million compared with $42.7 million in last year's third quarter. The increase in profitability was primarily due to increased volume and favorable foreign currency exchange rates.

Healthcare Specialty Services revenue in the quarter was $128.3 million compared with $65.7 million in the third quarter of fiscal 2015, reflecting the addition of Synergy Health and organic volume growth. Healthcare Specialty Services operating income was $7.4 million compared with $5.2 million in last year's third quarter. The increase in profitability was primarily due to the increased volume.

Fiscal 2016 third quarter revenue for Applied Sterilization Technologies was $90.2 million compared with $51.0 million in the same period last year. Revenue benefited from the addition of Synergy Health and increased volume from the segment's core medical device Customers. Segment operating income increased to $26.8 million in the third quarter of fiscal 2016 compared with operating income of $14.0 million last year, due primarily to the increase in volume and the addition of Synergy Health.

Life Sciences third quarter revenue increased 22% to $82.7 million compared with $68.0 million in the third quarter of fiscal 2015. Consumable revenue grew 45%, reflecting organic growth and the acquisition of GEPCO, capital equipment revenue increased 8% and service revenue grew 13%. Segment operating income was $24.1 million compared with $16.5 million in the prior year quarter. The increase in profitability was primarily due to the increased volume, including GEPCO, and favorable foreign currency exchange rates.

Cash Flow
Net cash provided by operations for the first nine months of fiscal 2016 was $104.6 million, compared with $165.2 million in fiscal 2015. Free cash flow (see Non-GAAP Financial Measures) for the first nine months of fiscal 2016 was $22.9 million compared with $109.3 million in the prior year. The decline in free cash flow is primarily due to expenses related to the combination with Synergy Health and other acquisitions. In addition, free cash flow was reduced by an increased payout level for the Company's prior year annual compensation program and a pension contribution made for the settlement of a legacy pension obligation. The total of these items, which reduced free cash flow year-over-year, is approximately $85 million.

Outlook
The Company is reiterating its outlook provided on December 22, 2015, which includes revenue growth of 21%-22% for the full fiscal 2016 year and adjusted earnings per diluted share in the range of $3.48 to $3.55. The Company currently anticipates free cash flow of approximately $100 million in fiscal 2016, reflecting approximately $100 million in acquisition and integration related costs.

Dividend Announcement

The Company also announced today that STERIS's Board of Directors has authorized a quarterly dividend of $0.25 per common share. The dividend is payable March 29, 2016 to shareholders of record at the close of business on March 1, 2016.

Conference Call
In conjunction with this release, STERIS management will host a conference call today at 10:00 a.m. Eastern time. The conference call can be heard live over the Internet at www.steris-ir.com or via phone by dialing 1-800-369-8428 in the United States and Canada, and 1-773-799-3378 internationally, then referencing the password "STERIS".

For those unable to listen to the conference call live, a replay will be available beginning at 12:00 p.m. Eastern time today either over the Internet at www.steris-ir.com or via phone by calling 1-866-408-8448 in the United States and Canada, and 1-203-369-0632 internationally.

About STERIS

STERIS's mission is to help our Customers create a healthier and safer world by providing innovative healthcare and life science product and service solutions around the globe. For more information, visit www.steris.com.

Investor Contact:

Julie Winter, Director, Investor Relations

[email protected]

+1 440 392 7245

Media Contact:

Stephen Norton, Senior Director, Corporate Communications

[email protected]

+1 440 392 7482

Non-GAAP Financial Measures

Adjusted net income and free cash flow are non-GAAP measures that may be used from time to time and should not be considered replacements for GAAP results. Non-GAAP financial measures are presented in this release with the intent of providing greater transparency to supplemental financial information used by management and the Board of Directors in their financial analysis and operational decision making. These amounts are disclosed so that the reader has the same financial data that management uses with the belief that it will assist investors and other readers in making comparisons to our historical operating results and analyzing the underlying performance of our operations for the periods presented. The Company believes that the presentation of these non-GAAP financial measures, when considered along with our GAAP financial measures, provides a more complete understanding of the factors and trends affecting our business than could be obtained absent this disclosure.

Adjusted net income excludes the amortization of intangible assets acquired in business combinations, acquisition-related transaction costs, integration costs related to acquisitions, and certain other unusual or non-recurring items. STERIS believes this measure is useful because it excludes items that may not be indicative of or are unrelated to our core operating results and provides a baseline for analyzing trends in our underlying businesses.

The Company defines free cash flow as cash flows from operating activities less purchases of property, plant, equipment and intangibles, net capital expenditures, plus proceeds from the sale or property, plant, equipment, and intangibles. STERIS believes that free cash flow is a useful measure of the Company's ability to fund future principal debt repayments and growth outside of core operations, pay cash dividends, and repurchase ordinary shares.

Forward-Looking Statements

This release and the conference call may contain statements concerning certain trends, expectations, forecasts, estimates, or other forward-looking information affecting or relating to STERIS or its industry, products or activities that are intended to qualify for the protections afforded "forward-looking statements" under the Private Securities Litigation Reform Act of 1995 and other laws and regulations. Forward-looking statements speak only as to the date specified in this release and may be identified by the use of forward- looking terms such as "may," "will," "expects," "believes," "anticipates," "plans," "estimates," "projects," "targets," "forecasts," "outlook," "impact," "potential," "confidence," "improve," "optimistic," "deliver," "comfortable," "trend", and "seeks," or the negative of such terms or other variations on such terms or comparable terminology. Many important factors could cause actual results to differ materially from those in the forward-looking statements including, without limitation, disruption of production or supplies, changes in market conditions, political events, pending or future claims or litigation, competitive factors, technology advances, actions of regulatory agencies, and changes in laws, government regulations, labeling or product approvals or the application or interpretation thereof. Other risk factors are described herein and in STERIS's, STERIS Corporation's and Synergy's other securities filings, including Item 1A of STERIS Corporation's Annual Report on Form 10-K for the year ended March 31, 2015 and in Synergy's annual report and accounts for the year ended 29 March 2015 (section headed "principal risks and uncertainties"). Many of these important factors are outside of STERIS's control. No assurances can be provided as to any result or the timing of any outcome regarding matters described in the press release or otherwise with respect to any regulatory action, administrative proceedings, government investigations, litigation, warning letters, cost reductions, business strategies, earnings or revenue trends or future financial results. References to products are summaries only and should not be considered the specific terms of the product clearance or literature. Unless legally required, STERIS does not undertake to update or revise any forward-looking statements even if events make clear that any projected results, express or implied, will not be realized. Other potential risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, (a) STERIS's ability to meet expectations regarding the accounting and tax treatments of the Combination, (b) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in connection with the Combination within the expected time-frames or at all and to successfully integrate Synergy's operations with those of STERIS Corporation, (c) the integration of Synergy's operations with those of STERIS Corporation being more difficult, time-consuming or costly than expected, (d) operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) being greater than expected following the transaction, (e) the retention of certain key employees of Synergy being difficult, (f) changes in tax laws or interpretations that could increase our consolidated tax liabilities, including, changes in tax laws that would result in STERIS being treated as a domestic corporation for United States federal tax purposes, (g) the potential for increased pressure on pricing or costs that leads to erosion of profit margins, (h) the possibility that market demand will not develop for new technologies, products or applications or services, or business initiatives will take longer, cost more or produce lower benefits than anticipated, (i) the possibility that application of or compliance with laws, court rulings, certifications, regulations, regulatory actions, including without limitation those relating to FDA warning notices or letters, government investigations, the outcome of any pending FDA requests, inspections or submissions, or other requirements or standards may delay, limit or prevent new product introductions, affect the production and marketing of existing products or services or otherwise affect STERIS's performance, results, prospects or value, (j) the potential of international unrest, economic downturn or effects of currencies, tax assessments, adjustments or anticipated rates, raw material costs or availability, benefit or retirement plan costs, or other regulatory compliance costs, (k) the possibility of reduced demand, or reductions in the rate of growth in demand, for STERIS's products and services, (l) the possibility that anticipated growth, cost savings, new product acceptance, performance or approvals, or other results may not be achieved, or that transition, labor, competition, timing, execution, regulatory, governmental, or other issues or risks associated with STERIS's businesses, industry or initiatives including, without limitation, those matters described in STERIS Corporation's Form 10-K for the year ended March 31, 2015 and Synergy's annual report and accounts for the year ended 29 March 2015 and other securities filings, may adversely impact STERIS's performance, results, prospects or value, (m) the possibility that anticipated financial results or benefits of recent acquisitions, including the Combination, or of STERIS's restructuring efforts will not be realized or will be other than anticipated and (n) the effects of the contractions in credit availability, as well as the ability of STERIS's Customers and suppliers to adequately access the credit markets when needed.