EDAP TMS SA

We have adopted a code of ethics applicable to our Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, principal accounting officers, to any persons performing similar functions as well as to all of our employees as soon as they join us. The code of ethics is regularly reviewed and updated as needed. Our code of ethics has been made available on our website at http://www.edap-tms.com. The contents of our website are not incorporated by reference or otherwise included in this annual report. You may request a copy of our code of ethics free of charge upon request by contacting compliance@edap-tms.com. We expect that any amendments to the code of ethics, or any waivers of its requirements, will be disclosed on our website.