Financial & Professional Services TeachIn- · earnings per Euromoney Institutional Investor PLC share for the current or future financial years would necessarily match or exceed the

Financial & Professional Services Teach-In5th February 2020

The Company, its Directors, employees, agents and advisers accept and assume no liability to any person in respect of this Presentation save as would arise under English law. Statements contained in this Presentation are based on the knowledge and information available to the Group’s Directors at the date it was prepared and therefore facts stated and views expressed may change after that date. This document and any materials distributed in connection with it may include forward-looking statements, beliefs, opinions or statements concerning risks and uncertainties, including statements with respect to the Group’s business, financial condition and results of operations. Those statements and statements which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect” and words of similar meaning, reflect the Group's Directors’ beliefs and expectations and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and which may cause results and developments to differ materially from those expressed or implied by those statements and forecasts. No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved. You are cautioned not to place any reliance on such statements or forecasts. Those forward-looking and other statements speak only as at the date of this Presentation. The Group undertakes no obligation to release any update of, or revisions to, any forward-looking statements, opinions (which are subject to change without notice) or any other information or statement contained in this Presentation. Furthermore, past performance of the Group cannot be relied on as a guide to future performance. No statement in this document is intended as a profit forecast or a profit estimate and no statement in this document should be interpreted to mean that earnings per Euromoney Institutional Investor PLC share for the current or future financial years would necessarily match or exceed the historical published earnings per Euromoney Institutional Investor PLC share. Nothing in this document is intended to constitute an invitation or inducement to engage in investment activity. This document does not constitute or form part of any offer for sale or subscription of, or any solicitation of any offer to purchase or subscribe for, any securities nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto. This document does not constitute a recommendation regarding any securities.

Disclaimer

2

3

Agenda

3.00pm Introduction and Strategy Recap | Andrew Rashbass, Chief Executive Officer

3.15pm Financial & Professional Services Strategy | Jeff Davis, CEO, Financial & Professional Services

3.30pm NextGen Pillar| Isaac Showman, CEO, NextGen

4.00pm Break

4.10pm IMN & Derivatives Pillar| James Lavell, CEO, IMN & Derivatives

4.30pm People Intelligence Pillar & Key Takeaways | Jeff Davis, CEO, Financial & Professional Services

4.45pm Combined Q&A

5.00pm Reception with Wealth-X and BoardEx Demos

We are a global B2B information

services business

We provide price discovery, essential

market intelligence and events

4

5

Continued transition towards a 3.0 business

- +B2B Information 1.0

Print

Monologue

Advertising-centric

Product-centric

B2B Information 2.0 B2B Information 3.0

Digital

Dialogue

Subscriptions

Customer-centric

Embedded in workflow

Part of the industry structure

Licensing revenues based on customer outcomes

Solution-centric

Quadrants

The quadrants guide investment decisions, capital allocation and also define strategic priorities

6

3 Prepare for the upturn Protect and enhance competitive position Invest in acquisitions when cycle turns Opportunistic revenue initiatives Tighten cost control Fix any operational deficit

B2B Information 1.0

STRONG MARKET TAILWINDS

CYCLE

STRU

CTU

RE

- +

+

-

4 Invest New product development Invest in sales and marketing Acquisition Fix any operational deficit Accelerate transition to 3.0

1 Disinvest Maximise short-term profit and cash Divest Prevent future build-up

2 Use the time wisely Modest investment to move to top-right quadrant Maximise short-term profit and cash Fix any operational deficit Consider divestment

B2B Information 3.0

Transform the operating model

Product development and creating our future operating model

Disruption

Semi-opaque market

Inefficiency

Barriers to entry

Challenged business models

Invest around big themes

Actions depend on market characteristics

Pillars

3.0 Business model

Must have, not nice to have

Create once, sell many

Best of both worlds

Acquisition

Disposal

7

Actively manage the portfolio

Recycling capital

Under Strategic Review

Financial & Professional Services

New segmental structure from 1 October 2019

8

Euromoney Institutional Investor PLC

Fastmarkets

Asset Management Pricing

Investment Research

Institutional Investor

Data & Market Intelligence

TelecomsCentral functions

Corporate Development

Finance

HR

IT

Legal, Risk and Programmes

NEXTGEN

IMN & DERIVATIVES

PEOPLE INTELLIGENCE

1) FY19 revenue including pro forma financials for BoardEx, The Deal and Wealth-X

FPS is majority of Data & Market Intelligence segment

9

Data & Market Intelligence1

£185mFinancial & Professional

Services£156m

Next Gen61%

IMN & Derivatives

26%

People Intelligence

14%

Telecoms

Financial & Professional

Services

10

The journey to the FPS Division

2019-Scale and relevance

2015-2019 Sharing capabilities

Pre 2015 Businesses

in Silos

Specialist Information

Banking & Finance

NextGen IMN & Derivatives

People Intelligence

Financial & Professional Services

11

Agenda




4.00pm Break



4.45pm Combined Q&A


12

Today’s Presenters

Isaac ShowmanCEO, NextGen PillarJoined in September 2019 as CEO of NextGen. Previously Managing Director of Thomson Reuters media and information business for five years. Prior to that held several executive roles at The Economist Group across information, events, marketing and learning. Advisor to the publishing and technology start-up, Medium.

NextGen

Jeff DavisCEO, Financial & Professional ServicesJoined Feb 2019 with BoardEx and The Deal acquisition with over 25 years in institutional markets. Previously Managing Director of Barclays where he was most recently GlobalHead of IB Client Strategy; and Head of Capital Markets, Wealth & Asset Management.

FPS Division IMN & Derivatives

James LavellCEO, IMN & Derivatives PillarJoined in 2016 as Divisional COO at Institutional Investor. Became the CEO of IMN and Derivatives from December 2019. Prior to that, he ran transformation teams at British Telecom, Equifax, and AC Nielsen.

13

FPS: Built for growth and scale

Chief Financial Officer Tom Woodward

Chief Technology OfficerEric Johnston

Chief HR Officer Trudy Julyan

Chief Revenue OfficerNew Role

Strategy & ExecutionMark Taylor

Chief Executive Officer I Financial and Professional ServicesJeff Davis

NextGen Isaac Showman

IMN & Derivatives James Lavell

People IntelligenceCameron Ireland Richard Green

Subscriptions

14

Proforma numbers include BoardEx, Wealth-X and The Deal

FPS: FY19 Financials by revenue stream

Events Advertising/Other

45% 42% 13%

+8% Revenue CAGR FY17-FY19

93% Net revenue renewal rate

+7% Book of business growth in FY19

+2% Revenue CAGR FY17-FY19

300+ Events run in FY19(28 new)

29% Deal-Making events

-4% Revenue CAGR FY17-FY19

£9m Rankings & Thought Leadership revenues growing at 5%

£3m Total Digital Advertising revenues

APAC

£15m revenues

North America

£65m revenues

£4m revenues

Latin America EMEA

£74m revenues

15

FY19 pro forma revenue £156m. Totals may not sum due to rounding.

FPS: A globally diverse client base

Workflow Solutions

Market Intelligence

Business Development

Services

16

FPS: What we do and the primary markets we serve

CustomerGroups

Financial ServicesBanking | Insurance | Investment | Wealth Management

Professional ServicesLegal | Talent Management | Management Consulting

17

FPS: A third of our division is 3.0

1.0 (8%)


Market Intelligence

Workflow Solutions

Deal-Making Events

Derivatives Data

Print & Digital Advertising

Learning

Sponsored Events

People Data

Insight & Analysis

Rankings & Awards

2.0 (60%)

3.0 (32%)

Thought Leadership

People Data

Workflow Solutions Market Intelligence Business Development

18

(Top 11 brands = 83% of FY19 pro forma revenue)

FPS: The main brands through which we operate

NextGen

People Intelligence

IMN & Derivatives

19

FPS: Managing scale and relevance

Domain expertiseBrandCritical market information

Event operations

Offshoring

Technology

Relevance

Marketing

Product management

Corporate functions

FPS Division

PLC

20

Agenda




4.00pm Break



4.45pm Combined Q&A


604 employees globally

21

NextGen Pillar at a glance

Workflow SolutionsMarkets

71%Recurring Revenue

£97.2mRevenue

6


MarketIntelligence

49HK

116NYC

369London

23Chennai

31Sofia

16Other

22

Primary brands across FPS segments

Financial services

Capital Markets

12%

Transactions

10%

Banking

29%

Asset Financing

17%

Insurance

14%

Professional services

Percentage of revenue by industry. Only parent brands represented

Legal

18%

23

Today’s case studies

Service Market Brand Product

WorkflowSolutions

Deal Making Events Capital Markets Global Borrowers & Bond Investors Forum

Learning Banking Euromoney Learning

Market Intelligence

Insight Insurance insuranceinsider.com

Analytics Asset Financing The Airline Analyst


Rankings Legal IFLR 1000

24

Global Borrowers & Bond Investors ForumCapital MarketsWorkflow solutions Deal Making Events

What is it? Primary deal-making

event for the debt capital markets ecosystem

What do we deliver? Annual convention of

investor and issuer community with over 13.5 trillion dollars of AUM represented

Facilitate >1,000 transactional meetings and networking in under two days

25

Global Borrowers & Bond Investors Forum

786 attendees

49countries

represented

35%issuers

Over$13.5

trillion in AUM

Over 80 speakers

12% investors

Over1,000

Meetings

Why is it valuable? Time and cost efficient for

banks and clients to meet in one place

Scale drives transparency for highly regulated public-sector issuers

Impartial platform for deal-making and discussion on industry issues

Lessons for other NextGen Brands Domain credibility

facilitates transactional credibility

Opportunity to be “market-makers” in other domains by reacting quickly to industry trends

Banks38%

Issuers35%

Investors 12%

Media 9%Gov2%

Other 4%

Delegate profileDelegate profile

What is it? Provider of business-

critical training for leading international financial institutions

What do we deliver? Practical training

programs that combine industry insight with learning expertise

Sophisticated set of services that blend classroom tuition with innovative online learning platform

26

Euromoney LearningBankingWorkflow solutions Learning

Selected customers

insuranceinsider.comInsuranceMarket Intelligence Insight

What is it?Leading provider of market intelligence to global specialty, insurance, reinsurance and US P&C community

What do we deliver? Scoops and fast, actionable

reporting of customer, counterparty and regulatory issues for the re-insurance sector

Specialist analysis on company risk

27

28

insuranceinsider.com

$0

$2

$4

$6

$8

$10

$12

$14

Apr-1

8

May

-18

Jun-

18

Jul-1

8

Jul-1

8

Aug-

18

Sep-

18

Oct

-18

Nov

-18

Dec

-18

-6%

-4%

-2%

0%

2%

4%

6%

8%

10%

Q1-

12Q

2-12

Q3-

12Q

4-12

Q1-

13Q

2-13

Q3-

13Q

4-13

Q1-

14Q

2-14

Q3-

14Q

4-14

Q1-

15Q

2-15

Q3-

15Q

4-15

Q1-

16Q

2-16

Q3-

16Q

4-16

Q1-

17Q

2-17

Q3-

17Q

4-17

Q1-

18Q

2-18

Q3-

18Q

4-18

Q1-

19Q

2-19

Q3-

19

Small accountsMedium accountsLarge accounts

Why is it valuable? Counterparty intelligence

informs client’s risk assessments

Customer intelligence helps clients find new customers

Regulatory and market intelligence informs client’s strategy

Lessons for other NextGen Brands Importance of sub-

industries in market relevance

Actionable intelligence facilitates subscription business model

The Airline AnalystAsset FinancingMarket Intelligence Analytics

What is it? Leading online tool for

evaluating the financial profile of the world’s airlines

What do we deliver? Up-to-date and accurate

financial and operational information of all airlines

Downloadable data and analysis that can be imported into client’s models and for investment research

200+ airlines covered

2.5 xgreater coverage than competitors

29

The Airline Analyst

Why is it valuable? Quality, granular information

across wide set of companies Data integrity facilitates

capital markets origination and investor risk-rating

Both cost and time prohibitive for customers to gather this data on their own

Lessons for other NextGen Brands Importance of data

granularity and becoming part of our customers’work-flow

Editorial brands add credibility to reported data

Value of data transparency

Selected customers

30

IFLR 1000LegalBusiness Development Rankings

What is it? Market-leading

rankings service for legal industry

What do we do? 2,000+ ranking tables for

financial law firms organized by geography, practice area, and industry capabilities

27 international awards with sophisticated accreditation programs that allows firms to market their performance

31

IFLR 1000

Why is it valuable? Third-party validation of

law firm’s capabilities for use in RFPs, pitches, etc.

Informs industry benchmarking for partner and practice performance

Critical reference tool for corporate legal teams and referral law firms when selecting external counsel

Lessons for other NextGen Brands Research capabilities

are not domain specific Commercial agility

enhanced by customer proximity

Value of an awards franchise

32

Wor

kflo

w

Solu

tions Deal-Making Events •

Learning

Mar

ket

Inte

llige

nce

Market Intelligence • • •Market Data

Busi

ness

De

velo

pmen

t Lead Generation • •Sponsored Events • • • •Thought Leadership •Advertising • • • •

Today’s case studies in context

33

Product shown todayExisting products over £1m revenue•

34

Product mix

Service revenue share Product revenue share

12%

2%

20%

14%

3%

36%

10%

Sponsored Events

Lead Generation

Advertising

Thought Leadership

LearningDeal-Making Events

Market Intelligence

Market Data

13%

39%

48%

Workflow solutions

Market intelligence

Business development

3%

How we drive performance

35

NextGen

Relevance

Scale

Execution

36

Agenda




4.00pm Break



4.45pm Combined Q&A


37

Agenda




4.00pm Break



4.45pm Combined Q&A


Deal-making events

Embedded information services

Industry Research

News, insight and analysis

38

The pillar at a glance

9%RevenueCAGRFY17-19

Brands

31%Subs Revenue

£39.5mRevenue

4

30ROW

44NYC

34London

Employees

39

Our revenue is predominantly deal-making events and subscriptions

Data subscriptions & deal-making events have driven our growth

Industry events and awards provide high margins and ongoing access to participants

78 Industry events

1436 Subscriptions

1962 Sponsors

18% 18% 17%

28% 31%

51% 50% 50%

3%

Subs

FY172%

Deal-making Events

2%FY18 FY19

Events & awards

30%

Other

100%

Revenue percentageby product type

Revenue percentageby market sector

19%

43%

38%

100%

FY19

Real Estate

Structured Finance& Products

Trading

39.5m

40

IMN – best-in-class events facilitating transactional deal-flow

An event platform that provides best-in-class convening and deal-making opportunities for the financial services industry

Structured Finance 24 annual securitization events The two largest events are ABS East and

Global ABS

ClientsBanks and financial intermediaries | Professional services firms | Service providers | Start-ups

Real Estate Investing 42 annual real estate events Significant sectors include Single/multi

family rental and Private Equity Real Estate

ClientsTier 1 banks | Professional services firms Credit rating agencies | Service providers

41

IMN – best-in-class events facilitating transactional deal-flow

Structured Finance deals with global participants, whereas Real Estate Investing is more fragmented and domestically focused

0%

50%

20%

60%

10%

30%

70%

40%

80%90%

100%

StructuredFinance

RealEstate

Total Revenue

Top 20Clients

All other Clients

Top 20Clients

Structured Finance

All otherClients

Real Estate

51% of revenue comes from the top three events in both sectors

Structured Finance 677 sponsors

Real Estate Investing 1285 sponsors

42

Euromoney TRADEDATA – high quality reference data

Enable efficient trade processing

Deliver historical data

Provide regulatory support

Assist risk reporting

International Listed Derivatives – Futures & Options and OTC Cleared Contracts

Tier 1 banks, ISVs, Regulators, Exchanges:- Front, Middle and Back

office

Industry Coverage

A strategically important reference data source to the international futures and options community

Revenue is 86% sell-side clients

80% Tier 1Banks

43

Euromoney TRADEDATA – high quality reference data

27%

23%

17%

17%

8%7%Compliance

BusinessDevelopment

% of overall users

OtherTransaction

Operations

SupportFunctions

100%

User categories

A common language that unifies the identification of financial instruments between trading participants

Euromoney TRADEDATA

One symbology

Trades

Trades

Trades

Front office

Mid Office

Back office

44

Each business provides opportunity to accelerate growth

Building new capability Align our technology development and

delivery channels

Develop our existing products into new sectors and asset classes

Developing current assets Leverage the best in class elements from

each business across the pillar

Utilize our global teams to expand our brands and products into newmarkets

45

Three key takeaways for the IMN & Derivatives Pillar

Goodbusinesses Well positioned Ability to accelerate

growth

46

Agenda




4.00pm Break



4.45pm Combined Q&A


Services

Data on individuals sourced from semi-opaque markets

47

People Intelligence

What is it?

Workflow Solutions

ClientsBanking Wealth

ManagementExecutive

Search Legal Management Consulting

Financial Services Professional Services


48

Proprietary algorithms, data depth and accuracy create competitive advantage■ Proprietary algorithms rank

relationships to highlight the most actionable connections

■ Quality Sources: press releases, announcements, public filings, IR websites, etc.

■ Unparalleled Accuracy: 300+ in-house researchers based in Chennai, India

■ Technology-enabled change detection applications

■ Profiles continuously updated: 1.4m updates in last 12 months

BoardEx: Leader in Relationship Management

146Countries

$280mAddressable market

1,750

1.9mOrganisation Profiles

1.3m

20+ yearsof Historical Data

Director and Senior Management Profiles

PE Firms

49

We help our clients understand and engage their target audience, make informed decisions and minimize risk

Wealth-X: A market leading brand and a strategic 3.0 acquisition

125 Countries

$150mAddressable market

230kUpdates per week

1.8m

65Research team

Records of wealthy individuals

■ Wealth-X Global Database: world’s most extensive collection of curated research and intelligence on wealthy individuals

■ Wealth and investable assets model: produces estimates for total private wealth, investable assets and the wealthy population around the world

■ Quality Sources: 100% open source data with at least two publicly verified sources

13.0

14.0

15.0

16.0

17.0

18.0

19.0

20.0

21.0

22.0

23.0

Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

£ M

illio

ns

FY17 FY18 FY19

50

Net Revenue Renewal Rate = Proportion of prior year revenue in current year, after cancelations and net upsell/ downsell

People Intelligence: FY17-FY19 Subscription BoB & Key Stats

£19.5m, +13%

£21.9m, +13%

£14.6m

£17.5m £17.2m, +18%

£19.3m, +13%

Revenue CAGR FY17-19+15%

Target Addressable Market

$430m

Clients870

Net Revenue Renewal Rate94%

Z 500 clients

Acquired Feb 2019

Acquired Nov 2019

Worlds largest database on wealthy Individuals

Gold standard database of director & senior

management profiles

370 clients

51

People Intelligence: Opportunity to accelerate growth

Cross-sell opportunity95%

database crossover 45%

Growth Opportunities

52

FPS Key Takeaways

53

Financial & Professional Services portfolio belongs together

Brands deliver domain

expertise andrelevance

Leverage efficiency and

scale across FPS

92% of our revenue is

2.0 or better

Technology and product

management drives innovation

Platform for expansion

✔ ✔ ✔ ✔ ✔ ✔

Delivering must have solutions embedded in

clients workflow

54

Agenda




4.00pm Break



4.45pm Combined Q&A


55

Q&A

56

Agenda




4.00pm Break



4.45pm Combined Q&A


Information Management NetworkHosting over 60 global events annually, IMN conferences are the catalyst for information exchange and deal transacting, by providing a platform that informs, engages and delivers a competitive edge

EuromoneyPreeminent source of actionable information for wholesale finance, with an authoritative overview of banking, investment, forex & treasury and regional markets

Global CapitalCoverage of international capital markets, providing investor community with analysis and market intelligence of multiple key market sectors. Also hosts important deal-making events and awards

BoardExIs the most comprehensive, highly accurate, continuously growing business leadership database. In-depth profiles and relationship mapping tools allow our clients to enhance business development efforts and improve executive talent identificationInsurance InsiderMarket leader in intelligence, sponsored events and advertising for the global wholesale, specialty, insurance, reinsurance and US P&C communities

The DealFinancial transaction information service for professionals, focusing on M&A, private equity, venture capital, corporate activism and restructuring

Wealth-XProvides uniquely detailed and reliable wealth intelligence, enabling clients to uncover, understand and better engage with the world’s wealthiest individuals

IJ GlobalLeading online database of infrastructure and project finance transactions and assets, with information on procurement, financing, policy, pricing, and key participants

AirFinance JournalMarket Intelligence and deal-making events for aviation finance professionals. Focused on aircraft and airline markets, including deals, financing, fleets, trends, financial and operational data

Structured Retail ProductsA provider of highly-detailed information on all structured products sold in over 54 countries, with 22 million product database which allows easy analysis of the market

TRADEDATAA strategically important reference data vendor to the global futures and options industry, supplying data solutions and workflow tools as part of the trade lifecycle

International Financial Law ReviewMarket leading news and analysis geared towards lawyers specialising in finance, and working in financial institutions, corporates and in private practice

57

Appendix: FPS Brands

Managing Intellectual PropertyTracks developments in IP worldwide with news and analysis of cases, legislation, trends and strategies, as well as surveys, webinars and global events

International Tax ReviewActionable analysis of global tax policy, tax advice and trends, aimed at corporate tax departments. Also holding international tax conferences and the world tax guide

Total DerivativesA provider of real-time news and analysis of the major interest rate derivatives markets for sell-side and buy-side participants

ReactionsNews, events and advertising for business development teams active in the global insurance and re-insurance markets

BenchmarkCoverage of litigation and disputes market, leading litigation and attorneys worldwide

Global InvestorComprehensive news, analysis and data service encompassing asset management, securities finance, custody, fund services and derivatives markets

Power Finance & RiskFocused on financing and M&A in the N-American and S-American power industries. Providing news, analysis and proprietary databases on generation sales

The Airline AnalystPowerful online data and analysis service covering 200+ airlines globally, including detailed financial and operational data

Trading RiskMarket intelligence and events for participants in the insurance-linked strategies market

AsialawComprehensive research, analysis and rankings covering the leading regional and domestic law firms in the Asia-Pacific region across 28 sectors and practice areas

Expert GuidesIntelligence service aimed at corporate counsel, identifying leading law firms and advisors across 12 legal practice areas in over 90 jurisdictions worldwide

Reinsurance SecurityResearch company providing independent and confidential opinions on reinsurers' financial strength, suitability and longevity

58

Appendix: FPS Brands continued

Life SciencesSurvey and ranking service focused on law firms and lawyers specialised in the life sciences industry in North Americas

Trade FinanceService focused on export, agency, and structured trade finance across a range of sectors, providing news and analysis, as well as a database of big-ticket deals

Fleet TrackerCritical service for monitoring aircraft fleets and analysing aviation trends, featuring archival data on aircraft history, transactions, deliveries and new orders

Inside FACService the global facultative markets analysing developments in speciality risk and reinsurance, appealing to brokers, underwrites and service providers

59

Appendix: FPS Brands continued

Documents

Financial & Professional Services TeachIn- · earnings per Euromoney Institutional Investor PLC share for the current or future financial years would necessarily match or exceed the