2023 Full-Year Results

Momentumand Growth
8 March 2024

Disclaimer
This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of the Group. Although the Group believes
that the expectations reflected in such forward-looking statements are reasonable, these statements are not guarantees of future performance and are subject to anumber of risks and uncertainties and actual results, performance and events could differ materially from those currently being anticipated, expressed or implied in suchforward-looking statements.
Factors which may cause future outcomes to differ from those foreseen in forward-looking statements include, but are not limited to, those identified in the “Principal Risks
and Uncertainties” section of the Group’s Annual Report.
The forward-looking statements contained in this presentation speak only as of the date of preparation of this presentation and the Group therefore cautions against
placing undue reliance on any forward-looking statements. Nothing in this presentation should be construed as a profit forecast. Except as required by any applicable law
or regulation, the Group expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in thispresentation to reflect any change in the Group’s expectations or any change in events, conditions or circumstances on which any such statement is based.
This presentation does not constitute or form part of any offer or invitation to purchase any securities of any person nor any offer or invitation to sell or issue, or any
solicitation of any offer to purchase or subscribe for, any such securities.

2023 Full-Year Results

2

Variable Macro-Economic Backdrop

Geo-political uncertainty

Economic diversification

Heightened interest rates

Investment in R&D and innovation

Lingering (but slowing) inflation

Half the world is voting

Value of Live in a digital world

Carbon reduction

Significant variance in macro-economic trends across all five regions
2023 Full-Year Results

3

On-Demand Access
Artificial IntelligenceFirst Party Data

Peer Reviewed ResearchSpecialist Brands
Pay-to-Publish
Audience Development

Specialist
Knowledge

Lead Generation
Advanced Learning
Specialist Market Research

Live
Experiences

Pay-to-Read

Knowledge &information economy

Digital Demand Generation

2023 Full-Year Results

4

The Value of Specialisation

B2B Live & On-Demand Events

B2B Digital Services

Academic Markets

$33bn

$14bn

$73bn

Forecast size of the global
exhibition industry in 2025

Size of US technology B2B Data
and Market Access Industry

Addressable market forKnowledge Services

Source: Globex

Niche markets

Specialist connections

Forward visibility

The Power of Live

Buyer intent

Source: EY Parthenon

Specialist Knowledge
Recurring revenues
First party data

Source: Dimensions AI,
EY Parthenon, SIMBAB2B audiences

Lead generation

Deep customer relationships
Subject specialties

International communities

Championing the specialist in B2B Markets, Academic Markets and Digital Services
2023 Full-Year Results5

Major Brands in Major Markets
Academic Markets

B2B Markets$140m+$100m+

Foodservice$200m+

170k+

30+

2,000+

60k+

100+

1,800+

170k+

170+

150+

Attendees

Age

Exhibitors

Attendees

Age

Exhibitors

Reference Titles

Age

Subject categories

Healthcare &Pharmaceuticals

Foodservice$100m+$90m+

Humanities& Social Sciences

80k+

35+

3,000+

60k+

25+

400+

90+

20+

80+

Attendees

Age

Exhibitors

Attendees

Age

Exhibitors

OA Journals

Age

Subject categories

Health &Nutrition

2023 Full-Year Results

Cybersecurity

Science, Technology& Medicine

62023 Highlights
StrongUnderlying growth: Revenue 30%+, Adjusted Operating Profit c.60%, Free Cash Flow c.50%

HigherOperating Margin: Significant increase to 26.8%

Growing

Adjusted diluted earnings per share +86% to 45.3p

Increasing

Dividends of 18.0p, +84% year-on-year growth

Strength

Strong and flexible balance sheet with year-end leverage of 1.4x

Accelerating

Over £700m capital returned to shareholders through dividends and share buybacks

A standout performance in 2023 with continuing momentum and growth in 2024
2023 Full-Year Results

72024 Momentum
and Growth2024 Growth Drivers

2024 Underlying GrowthHigh single digit Revenue / Double Digit Operating Profit

International
Expansion

High growth
B2B Markets

Academic
GrowthRevenue
Visibility

Balance Sheet
Strength

Strength in the US
and rapidly expanding
economies in IMEA,ASEAN and China

Pharma, Healthcare,Technology, Health& Nutrition, Beauty,
Aviation

Step up to 4%
underlying revenue
growth throughacceleration in Pay
to Publish services£500m+ revenue todate and a further£1bn+ booked,
committed or visible2023 year-end leverageof 1.4x Net Debt/EBITDA
Free Cash Flow of£720m+

Structural Growth…the Power of Live…the Value of Specialist Knowledge

Growth and momentum in 2024
2023 Full-Year Results

92024 Forward Visibility

Revenue to date

Subscription Revenues

Live & On-Demand Visibility£500m+

75%+

c70%

Informa Group Revenue traded to date 2024

2024 Full Year Subscription revenue booked

Informa Markets 2024 Full Year Exhibitor revenue booked

2024 Revenue £500m+ to date with a further £1bn+ booked, committed or visible2023 Full-Year Results

102023 Full-Year Results

Strong Financial Performance &Effective Capital Management
Gareth WrightGroup Finance Director

2023 Full-Year Results: Accelerating Growth✓ Strong financial performance on all metrics

Revenue

Underlying Revenue£3,190m +41% YoY

Growth 30.4%(2022: £2,262m)(2022: 31.4%)✓ Accelerating growth and operating discipline deliver
improved profitability

Adjusted Operating Profit

Adjusted Diluted EPS£854m +72% YoY

45.3p +86% YoY✓ Strong cash flow generation(2022: £496m)(2022: 24.4p)✓ Year-end leverage of 1.4x
✓ Expanded £1.15bn share buyback completed

Dividend Per Share

Free Cash Flow

18.0p +84% YoY£632m +51% YoY(2022: 9.8p)(2022: £418m)

2023 Full-Year Results* All numbers are based on Continuing Operations£700m+ Shareholder returns in 2023
12

Momentum and Growth through 2023
2023 FY Results
Pre-Close Update2023 10-Month2023 HY Results
2023 AGM

8 March 2024

10 January 2024

14 November 2023

27 July 2023

15 June 2023

2022 FY Results
9 March 2023

Revenue:

Revenue:

Revenue:

Revenue:

Revenue:

Revenue:£2,750m – £2,850m£2,950m – £3,050m£3,050m±£3,150m+£3,165m+£3,190m

Adj Op. Profit:£675m – £725m

Adj Op. Profit:

Adj Op. Profit:£790m±

Adj Op. Profit:£840m+

Adj Op. Profit:c.£845m

Adj Op. Profit:£854m

Adj Op. Margin

Adj Op. Margin+370bpts YoY

Adj Op. Margin

Adj Op. Margin

Adj Op. Margin

Adj Op. Margin+400bpts YoY+480bpts YoY+480bpts YoY+490bpts YoY+300bpts YoY£750m – £790m

2023 Underlying Growth: Revenue 30%+, Adjusted Operating Profit c.60%
2023 Full-Year Results

13

Accelerating Growth & Financial Delivery
Continuing Operations:2023£m
3,189.62022£m
2,262.4

Adjusted Operating Profit

853.8

496.3

Adjusted Operating Margin

26.8%

21.9%

Growing Adjusted Operating Profit• Reported growth of 72.0%, Underlying growth of 59.1%

Net adjusted finance costs(19.2)(45.3)

Adjusted Profit before tax

834.6

451.0

Improving Statutory Performance• Statutory Revenue, Operating Profit and Diluted EPS all
higher year-on-year

Adjusting items(342.5)(282.2)

Reported Profit before tax

492.1

168.8

Effective Tax Charge• Effective tax rate (ETR) 18.7%

Adjusted tax charge(156.4)(81.2)

Effective tax rate

18.7%

18.0%

Growth in Partnership Revenues• Minority interests in China JVs, Curinos and Tahaluf

Adjusted profit

678.2

369.8

Non-controlling interests(43.1)(13.3)

Adjusted EPS (diluted)

45.3p

24.4p

Revenue

2023 Full-Year Results

Strong Revenue Growth• Reported revenue growth of 41.0%, Underlying growth of
30.4%

Increased Adjusted Diluted EPS• +86% year-on-year growth• Fully Diluted Weighted Average Shares of 1,403m
14

Strong underlying growth in all Divisions
2023

2022

Reported

Underlying

£m

£m

%

%

Informa Markets

1,593.3

933.3

70.7

65.5

Informa Connect

580.6

414.7

40.0

14.2

Informa Tech

396.7

320.8

23.7

5.6

Taylor & Francis
Group

619.0
3,189.6593.6
2,262.4

4.3
41.0

3.0
30.4

Revenue

Adjusted Operating Profit

Informa Markets…Strong Growth• Full return of Live and On-Demand B2B Events in all
regions and markets• Strong operating leverage
Informa Connect…Continuing Growth• Strong demand for content-rich live experiences• Strong operating leverage and improving mix
Tarsus…Combination and Growth• Strong underlying growth, combination programmeInforma Markets
Informa Connect

460.5
102.5

174.8
57.2

163.4
79.2

166.1
23.0

Informa Tech

72.9

55.5

31.4

7.8

Taylor & Francis

217.9

208.8

4.4

1.1

Informa Tech…Diversified Growth• Robust growth through Tech market volatility• H2 margin improvement, in-line with guidance

Group

853.8

496.3

72.0

59.1

IIRIS…First Party Data Growth• Permissioned B2B audience increased to 20m+

Operating Margins %Informa Markets

28.9

18.7

Informa Connect

17.7

13.8

Informa Tech
Taylor & Francis

18.4
35.2

17.3
35.2

Group

26.8

21.9

2023 Full-Year Results* All numbers are based on Continuing Operations

Taylor & Francis…Consistent Growth• Robust Pay-to-Read performance and growing Open
Research volumes• Consistent margin, in-line with guidance

15

Accelerating Revenue and Profit Growth2023 Revenue Growth (%)*

13.3
-1.4

30.4

Reported Growth-1.3

Underlying Growthé 41.0%Phasing

Portfolio Expansion

Currency

16.7

0.2

2023 Adjusted Operating Profit Growth (%)*
59.1

é 72.0%-4.0

Underlying Growth2023 Full-Year Results

Phasing

Reported Growth

Portfolio Expansion

Currency* All numbers are based on Continuing Operations

16

Strong Operating Leverage

3.8

0.2

0.7

0.2

26.8

Improving Operating Margin• Strong Underlying Revenue Growth• Strong operating leverage• Efficient cost management

21.9• Additions of Tarsus and Winsight• Margin uplift from odd-year biennial events

é 490bps
2022 Adj OPM

Performance

Phasing & Biennials

Portfolio Expansion

Currency

2023 Adj OPM

Strong revenue growth and efficient cost management delivering higher operating margins
2023 Full-Year Results* All numbers are based on Continuing Operations

17

Balance Sheet Strength and Flexibility
Debt maturities at 31 December 2023 (£m)
1600

1400

l

EMTN

l

RCF drawn---

RCF Undrawn

l

Bank

1200

Strong cash delivery£632m Free Cash Flow in 2023
No group level financial covenants
Average debt maturity 2.7 years

1000

Debt secured on fixed rates c3.2%

800

Year-end leverage of 1.4x

600

400

Year-end pension surplus over £40m
200

Substantial liquidity c.£1.5bn

0
2023

2024

2025

2026

2027

2028

(Undrawn RCF and Cash balances)

Covenant-free, fixed rate debt with long-term maturities and substantial liquidity
2023 Full-Year Results

18

2024 Momentum
and Growth2024 Momentum and Growth…Shareholder Returns
Portfolio Investments
Curinos

Operating Cash Flow Conversion 90%+…2024 Free Cash Flow £720m+
Organic
Investment

Progressive
Dividends

Inorganic
Investment

Share
Buybacks

Consistent Capex at
3-4% of revenue(£100m-£140m p.a.)

18p per share in 2023(c.£250m cash cost p.a.)Targeted portfolio
additions if available

Annual share buybacks, flexedwith inorganic investment(Minimum £340m+ inyear buybacks in 2024)

Banking Intell

56.2%

Norstella

Pharma Intell

6.7%

Lloyd’s List

Maritime Intell

20.0%Founder’sForum

B2B Events

22.3%

ITN

Production

20.0%

PA MediaSpecialist Media

18.2%

BolognaFiere

B2B Events

13.5%

BridgeEventsEvents Tech

14.9%

Target Leverage of 1.5x to 2.5x Net Debt / EBITDA

Capital allocation delivering growth investment and strong returns to shareholders
2023 Full-Year Results

202024 Market Guidance: Further Strong Growth2023 Full Year Results
8 March 2024

Market Guidance updated to reflect strong start tothe year, including particularly strong growth in IMEA

Pre-Close Update
10 January 2024

Revenue:£3,450m to £3,500m
Revenue:£3,425m to £3,475m
Adjusted
Operating Profit:£945m to £965m

Adjusted
Operating Profit:£950m to £970m
Free Cash Flow:£720m+

Strong underlying growth outlook in 2024
Full year benefit of 2023 additions
Lower biennial revenue in even years
2024 Revenues to date £500m+
Additional £1bn+ booked, committed or visible

Further strong underlying growth in Revenue and Adjusted Operating Profit
2023 Full-Year Results

Excluding any impact of TechTarget, USD/GBP 1.25

21

2023 Full Year Results

Momentum and
GrowthStephen A. Carter
Group Chief Executive

Discovery
Innovation accelerator

Economic growthInternational investment
Promotion & AwarenessScarcity value

The multipliereffectUnique connections

The Powerof Live2023 Full-Year Results

Face-to-Face
Strategic value
Convening power

The strategic
value of MICE

Host city(Meetings, Incentives,
Conferences, Expos)

Market accelerator

23

Major B2B Brands in Major Markets
Marquee Brands$30m+
20 Brands

Power Brands
CPhI (Pharma)

Farm Progress (Agriculture)

Natural Products (Health & Nutrition)

Bio-Europe (BioTech)Black Hat (CyberSecurity)

TISE (Construction)

SuperReturn (Private Equity)

Vitafoods (Nutraceuticals)

China Beauty/Cosmoprof (Beauty)

Medlab (Medical Technology)

Arab Health (Healthcare)

The Battery Show (Sustainability)

Market Brands$3m-$10m
100+ Brands$10m-$30m
40 Brands

National Brands
AfricaCom (Technology)

LSX (Life Sciences)

A4M (Anti-Ageing)

RiskMinds (Risk Management)

Greenbuild (Sustainability)

Channel Leadership (Technology)

TIDES (Therapeutics)

GAIM Ops (Alternative Investment)

GESS (Education)

Finovate (FinTech)AI Summit (Artificial Intelligence)

Catersource (FoodService)$1m-$3m
200+ Brands

Leading Brands in growing B2B markets
2023 Full-Year Results24

Momentum & Growth…Five Geographic B2B Growth Pillars
Americas

ASEAN

IMEA

China

Europe$1.2bn+$125m+$300m+$450m+$350m+

10%+

10%+

20%+

5%+

10%+

5

4

5

2

2

Revenues

Growth2024 Launches

Revenues

Growth2024 Launches

Revenues

Growth2024 Launches

Revenues

Growth2024 Launches

Revenues

Growth2024 Launchesc.20 new launches in rapidly growing markets in 2024
2023 Full-Year Results*

Revenue is face-to-face revenue only, excluding ROW

25

Momentum & Growth…IMEA a Growing Geographic B2B Pillar
Rapidly growing economies with strong demand for specialist
knowledge, B2B market access and live experiences

Major brands in IMEA

Investment in transport links, venues and infrastructure
Informa the largest commercial operator, with 1,200+
Colleagues across the region
Informa regional centres in Dubai, Manama, Istanbul, Cairo,
Mumbai, and Riyadh
Growth through partnerships eg Tahaluf, BolognaFiere

United Arab Emirates

Kingdom of Saudi Arabia

Kingdom of Bahrain

Egypt

TürkiyeIndia$300m+ Revenues in IMEA, growing 20%+2023 Full-Year Results

26Marquee Brands = Power, Impact, Value$90m+ 20%+2024 Revenue

4,300
Exhibitors

130k

Professionals

YoY Growth£2.5bnTransactions

Healthcare & Pharmaceuticals
2023 Full-Year Results

75+

Exhibiting Countries

Marquee Brands = Power, Impact, Value$70m+ 30%+2024 Revenue

1,800
Exhibitors

170k

Professionals

YoY Growth$4.9tnInvestors AUM

Technology Innovation
2023 Full-Year Results

50+

Exhibiting Countries

Momentum & Growth…First Party Data
Growing First Party B2B Data…via IIRIS

Increasing Customer Value…powered by IIRIS

20m+
Permissioned First Party
B2B Audience• Lead generation platform for sponsors and exhibitors• Powered by IIRIS first party data (enrichment, intent,
segmentation)• Real-time access, single view of leads across multiple
Informa brands• Launch and track marketing campaigns directly or
integrate into customer platforms• Increasing return on investment for customers

IIRIS data powering enhanced customer experience and marketing effectiveness2023 Full-Year Results

29

The Power and Potential of Artificial Intelligence at Informa

AI already deployed throughout Informa
in a variety of products and services
Existing use cases largely delivering
improved productivity and cost efficiencies
Potential for generative AI to enhanceexisting products and launch new ones
Growing internal AI talent and capabilities
combined with 3rd party expertise
Limited potential disruptive scenarios
identified across the portfolio

Content

Networking

Service

SupportContent indexing
and classification

Live speech to text
conversion/translation

Video to texttranscription

Long/Short-form content
creation via ChatGPT

Enhanced validation for fake detection, conflict ofinterest and plagiarism identification

Human object detection to understandaudience demographics, behaviours, intent etc
Marketingsegmentation

B2B recommendationand matchmaking

IIRIS deploying intelligent
user segmentation

Personalised B2B rec’sand matchmaking

Journal suggestion, Researcher/Institution
content recommendation engine
Facial recognition andsentiment analysis

Data deduplication

Receipt allocation to
open invoices
Customer effort and sentiment analysis

Current AI activities

Analysing post-show
customer feedback
Pricing and Peer Reviewer
recommendation engines

Customer service AI chat botson events pages
Chatbot capabilities for service
centres / vendor management

Near-term AI deployment

AI already embedded within portfolio, with opportunity for expansion
2023 Full Year Results

30Live & On-Demand Events, Powered by AI

2023 Full-Year Results

31

Momentum and Growth…New TechTarget

Announcement on 10 January 2024
✓ Proposed combination of Informa Tech’s digital businesses with
US-listed TechTarget✓ Informa to contribute Informa Tech’s digital businesses andc.$350m cash for 57% ownership position✓ Ambition to double New TechTarget’s revenues of c.$500m within
five years✓ New TechTarget will be US-listed on Nasdaq, classified as aControlled Company and led by Gary Nugent✓ Combination to immediately enhance Informa’s revenues andoperating profit and be accretive to EPS from 2026

Progress since announcement✓ Appointment of Combination Director✓ Hart-Scott-Rodino regulatory filing submitted✓ Preparation of the Proxy Statement and other regulatory
documents✓ Engagement with Colleagues, Customers and Shareholders (bothInforma and TechTarget)✓ TechTarget reported Q4 2023 results in line with market
expectations✓ New TechTarget operating model, building on due diligence work
pre-announcement

Prospective combination on track to complete in second half of 2024*
2023 Full-Year Results* Subject to TechTarget majority shareholder approval

32

Increased scale and depth at New Informa Connect
2023

2019

New Connect

£275m

£580m

c.£900m

2

5

6

40+

75+

100+

90% | 0% | 10%

60% | 25% | 15%

70% | 20% | 10%

RevenueCore verticals£1m+ Brands

Events|Subscriptions|Other

RevenueCore verticals£1m+ Brands

Events|Subscriptions|Other

RevenueCore verticals£1m+ Brands

Events|Subscriptions|Other

New Informa Connect: a $1bn+ business2023 Full-Year Results

33New Informa Connect…Major Brands$20m+$100m+

Foodservice

$40m+

9k+

15+

290+

60k+

100+

1,800+

9k+

25+

400+

Attendees

Age

Exhibitors

Attendees

Age

Exhibitors

Attendees

Age

Exhibitors

Biotech &Life Sciences$90m+

Anti-Ageing &Aesthetics

Foodservice

Finance

$60m+

$30m+

60k+

25+

600+

15k+

20+

600+

25k+

35+

500+

Attendees

Age

Exhibitors

Attendees

Age

Exhibitors

Attendees

Age

Exhibitors

Cybersecurity

2023 Full-Year Results

Anti-Ageing& Aesthetics

Entertainment

34

Growing portfolio of Academic Services
Pay-to-Publish
JournalSubscriptions

Reference
TitlesRead & Publish
Agreements

Pure Open AccessHybrid Open Access
Open Books

Pay-to-Read

Open Research Platforms

Institutional
eBooksDatabase& Access

Licensing &Meta Data

Reprints &Content Services
Advertising2023 Full-Year Results

eBook Retail& eCommerce* Not to exact scale

Sources of
Revenue
Decision Support
Services

Enhanced Content Value
Research
Enhancement

Archives &Digital Resourcesl

Pay-to-Readl

Pay-to-PublishlEnhanced Content Value

35

Momentum & Growth…Improving Underlying Growth
Expansion of AI
developed derivative
products
Increased eBookmarket penetration
Expansion of premiumreference titles

Acceleration in Open
Research Volumes
35+ Read & Publish
Agreements
Regional Sales Focus
in US/Asia
90%+ Subscription
RenewalsContinuing Investment:
New Product Development
Open Research speed to market
Customer experience
Marketing effectiveness
Sales capacity

4% 2024 Underlying Revenue Growth Target
GAP2 investment delivering higher levels of underlying growth2023 Full-Year Results

36Specialist Research, Powered by AI

2023 Full-Year Results

37

The Informa GroupB2B Live & On-Demand Events

Transaction-led
Live & On Demand B2B Events
300+ Brands,
20+ specialist markets(Pharma, Health & Nutrition,
Aviation, Beauty, Infrastructure& Construction, Luxury

B2B Digital Services

Content-led
Live & On-Demand B2B Events
400+ Brands,
6 growth markets:
Biotech & Life Sciences, Finance,
Foodservice, Anti-Ageing &Aesthetics, Lifestyle, Technology

B2B Data &Market Access Platform
220+ Specialist B2B Brands,
c.50m permissioned
First Party B2B audience data,
Demand Gen &Buyer Intent platforms

Specialist Academic Research,
Advanced Learning &Open Research
6 publishing imprints,
2700+ peer review journals(300+ Open titles),
170k reference titles across
75+ specialist subjects

IIRIS (Proprietary First Party B2B Data Platform)
c.$2.2bn / c.£1.75bn
Revenues

2023 Full-Year Results

c.$1.1bn / c.£0.9bn
Revenues$0.5bn+ / £0.4bn+
Revenues

Portfolio Growth
Investments

Academic Markets$0.75bn+ / £0.6bn+
Revenues* Figures relate to 2024, including annualised figures for New TechTarget, assuming proposed
combination between Informa Tech’s digital businesses and TechTarget completes as planned

Brand

Category

EquityNorstella

Pharma Intell

6.7%

Lloyd’s List

Maritime Intell

20.0%Founder’sForum

B2B Events

22.3%

ITN

Production

20.0%

PA MediaSpecialist Media

18.2%

BolognaFiere

B2B Events

13.5%

BridgeEventsEvents Tech

14.9%

$4.5bn+ / £3.65bn+
Group Revenues

382024 Growth Drivers

2024 Underlying GrowthHigh single digit Revenue / Double Digit Operating Profit

International
Expansion

High growth
B2B Markets

Academic
GrowthRevenue
Visibility

Balance Sheet
Strength

Strength in the US
and rapidly expanding
economies in IMEA,ASEAN and China

Pharma, Healthcare,Technology, Health& Nutrition, Beauty,
Aviation

Step up to 4%
underlying revenue
growth throughacceleration in Pay
to Publish services£500m+ revenue todate and a further£1bn+ booked,
committed or visible2023 year-end leverageof 1.4x Net Debt/EBITDA
Free Cash Flow of£720m+

Structural Growth…the Power of Live…the value of Specialist Knowledge

Growth and momentum in 2024
2023 Full-Year Results

39Appendix

ESG
Fasterto ZeroMoving faster to become a zero waste and net zero carbon business

AAA

100th

2024 rating

percentile

Faster to Zero
• CarbonNeutral® Company certification for 4th
consecutive year. >80% reduction in scope 1+2*
• CarbonNeutral® Publication certification for all T&F
physical books & journals for 3rd consecutive year
• Ongoing pilots with CarbonNeutral® Events• Sustainable Events Fundamentals Programme
embedded across 400+ B2B brands• On track for Science Based Targets: Ongoing reduction
in energy usage and Scope 1,2 & 3 carbon footprint

Sustainability InsideB2023 rating

Impact Multiplier• 85% of events actively embedding sustainability
content into products, increasing revenue &engagement.

• Connecting the Disconnected: 250,000+
disadvantaged people connected through eventsand publishing to date

• 81% of top Taylor & Francis brands meet our criteria
for embedding Sustainability Inside• Estimated $5.2bn of identified value created forhost cities from 64% of total attendance• <25,000 books and journals in SDG online• Estimated £12.0m of value given to charities andcommunity groups in 2023, putting Informa in the
1% club• Launch of industry standard approach to measure
travel consolidation• Strongly positive engagement with colleagues andcustomers on sustainability agenda

United Nations
Sustainable
Development Goals

Continuing progress against FasterForward goals and strong recognition in external indices2023 Full-Year Results*excluding 2023 acquisitions such as Tarsus

41

Informa Markets
Informa Markets is our transaction-led lie and ondemand events division. We bring specialist markets tolife, helping businesses to connect, trade, innovate and£1,593m

£461m

66%

Revenue

Adj. Op. Profit

Underlying Revenue
Growth

c.50%

c.29%

4,500+

grow through live experiences and digital services.
Group Revenue

Revenue by type

2023

Revenue by verticall

ExhibitorlMarketing ServiceslSponsorshiplAttendeelSubscriptions
Unit Sales

2022 Full-Year
2023
Half-Year Results
Results Presentation

2023

l

Healthcare & PharmalHealth & NutritionlInfrastructure, Construction & Build.

l

Fashion & ApparellMaritime, Transport & Logisticsl

Manufacturing, Machinery & Equip.

lBeauty & AestheticslJewelleryl

Operating Margin

Colleagues

Revenue by regionlNorth AmericalCont. EuropelUK

Hospitality, Food & BeveragelChina (incl. Hong Kong)l

AviationlMiddle East

l

Other

l

Rest of World

2023

42

Informa Connect
Informa Connect delivers content-led live and ondemand events and experiences and specialist
digital content that connect audiences and help

£581m

14%

£103m

Revenue

Adj. Op. Profit

Underlying Revenue
Growth

c.18%

c.18%

2,100+

professionals to know more, do more and be more.
Group Revenue

Revenue by type

2023

Revenue by vertical

Operating Margin

Colleagues

Revenue by regionlAttendeelFinancelNorth AmericalSubscriptionslBiotech & Life ScienceslCont. EuropelSponsorshiplFoodservice

l

UK

l

Exhibitorl

Anti-Ageing & AestheticslChina (incl. Hong Kong)l

Marketing ServiceslLifestylelMiddle Eastl

Unit Sales

l

Other

l

Rest of World

2022 Full-Year
2023
Half-Year Results
Results Presentation

2023

2023

43

Informa Tech
Informa Tech focuses on the technology
industry, providing B2B data and market accessto customers through live and on-demand£397m

events, specialist research, specialist media
brands, digital demand generation and buyer
intent.

Revenue by type

2023

£73m

6%

Revenue

Adj. Op. Profit

Underlying Revenue
Growth

c.12%

c.18%

1,600+

Group Revenue

Operating Margin

Revenue by tech sub-verticallEnterprise IT

Colleagues

Revenue by regionlAttendeelSecuritylNorth AmericalExhibitorlService Providers

Cont. Europe

Subscription

l

l

l

Gaming, Media & Entertainment

l

UK

l

Sponsorship

l

AI

l

China (incl. Hong Kong)l

Marketing ServiceslComponents & DeviceslMiddle Eastl

Unit Salesl

Other (incl. Netline and Industry Dive)lRest of World

2022 Full-Year
2023
Half-Year Results
Results Presentation

2023

2023

44

Taylor & Francis
Taylor & Francis is a leading provider of academic
research, advanced learning and open research. We
work with knowledge makers around the world to£619m

ensure high-quality research has an impact, by being
discovered by the right audience and contributing tohuman progress.

Revenue by type3%

Revenue

Adj. Op. Profit

Underlying Growth

c.19%

c.35%

2,400+

Group Revenue

Revenue by vertical

2023

£218m

Operating Margin

Colleagues

Revenue by region

2023

2023

l

North AmericalCont. Europe

l

UK

l

China (incl. Hong Kong)lElectroniclHumanities & Social SciencelMiddle East

l

Print

l

Science, Technical & MedicallRest of World

2023 Full-Year
22022
Half-Year
Results
Results Presentation
022 Half-Year Results Presentation

45

Adjusting Items
2023
£m

2022
£m

Intangible amortisation and impairment

337.3

281.4

Acquisition and integration costs

73.0

22.0

Restructuring and reorganisation costs

11.0

(1.6)

-

4.7

Fair value (gain) on contingent consideration(87.6)-

Fair value loss on contingent consideration

12.0

5.7

Foreign exchange loss on swap settlement

5.6-

Accounts receivable credits released

(5.3)

-

Adjusting items in operating profit

346.0

312.2

Fair value (gain)/loss on investments

(1.3)

0.9

(Profit) on disposal of subsidiaries and operations(3.0)(11.6)-(20.6)

0.8

1.3

342.5

282.2

Onerous contracts and one-off costs associated with COVID-19

Distributions received from investments
Finance costs
Adjusting items in profit before tax

2023 Full-Year Results

46Currency Sensitivity
Average Rates
GBP/USD

Closing Rates

2023

2022

2023

2022

1.24

1.24

1.27

1.21

The anticipated impact of a 1 cent movement in the USD to GBP exchange rate in 2024:
Annual revenue£17.5mAnnual adjusted operating profit£7.0m

Annual adjusted earnings per share2023 Full-Year Results

0.4p

47

Sponsored ADR ProgrammeInforma ADRs trade on the US over-the-counter (OTC) market
Symbol

IFJPY

ISIN

US45672B305

Ratio

1 ADR : 2 ORD

Effective date

1st July 2013

Underlying ISINJE00B3WJHK45

Depositary Bank

BNY Mellon

For any questions relating to Informa ADRs, please contact BNY Mellon
Damon Rowan
Tel: +44 20 7163 7511
E-mail: damon.rowan@bnymellon.com

2023 Full-Year Results48Additional Information and Where to Find It
In connection with the proposed transaction (the “proposed transaction”) between Informa and TechTarget, Toro CombineCo, Inc. (“NewCo” or, after the completion of the proposed transaction, “New TechTarget”)
and TechTarget will prepare and file relevant materials with the Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 that will contain a proxy statement of TechTarget that
also constitutes a prospectus of NewCo (the “Proxy Statement/Prospectus”). A definitive Proxy Statement/Prospectus will be mailed to stockholders of TechTarget. TechTarget and NewCo may also file otherdocuments with the SEC regarding the proposed transaction. This communication is not a substitute for any proxy statement, registration statement or prospectus, or any other document that TechTarget or NewCo (asapplicable) may file with the SEC in connection with the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF TECHTARGET ARE
URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL
BE FILED BY TECHTARGET OR NEWCO WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION, WHEN
THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. TechTarget
investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus (when they become available), as well as other filings containing important information about TechTarget, NewCo,and other parties to the proposed transaction (including Informa), without charge through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by TechTarget will beavailable free of charge under the tab “Financials” on the “Investor Relations” page of TechTarget’s internet website at www.TechTarget.com or by contacting TechTarget’s Investor Relations Department at
investor@TechTarget.com.
Participants in the Solicitation
Informa, TechTarget, NewCo, and their respective directors and certain of their respective executive officers and employees may be deemed to be participants in the solicitation of proxies from TechTarget’s
stockholders in connection with the proposed transaction. Information regarding the directors of Informa is contained in Informa’s annual reports and accounts available on Informa’s website atwww.informa.com/investors/ and in the National Storage Mechanism at data.fca.org.uk/#/nsm/nationalstoragemechanism. Information regarding the directors and executive officers of TechTarget is contained in
TechTarget’s proxy statement for its 2023 annual meeting of stockholders, filed with the SEC on April 19, 2023, and in other documents subsequently filed with the SEC. Additional information regarding theparticipants in the proxy solicitations and a description of their direct or indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement/Prospectus and other relevant materials filed with
the SEC (when they become available). These documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shallthere be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No
offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve substantial risks anduncertainties. All statements, other than historical facts, are forward-looking statements, including: statements regarding the expected timing and structure of the proposed transaction; the ability of the parties tocomplete the proposed transaction considering the various closing conditions; the expected benefits of the proposed transaction, such as improved operations, enhanced revenues and cash flow, synergies, growthpotential, market profile, business plans, expanded portfolio and financial strength; the competitive ability and position of NewCo following completion of the proposed transaction; legal, economic, and regulatory
conditions; and any assumptions underlying any of the foregoing. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified
by the words “may,” “will,” “should,” “potential,” “intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “plan,” “could,” “would,” “project,” “predict,” “continue,” “target,”or the negatives of these words or other similar terms or expressions that concern TechTarget’s or NewCo’s expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current
plans, estimates, and expectations that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those indicated or anticipated by such forward-looking statements. We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual
results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

Cautionary Note Regarding Forward-Looking Statements (continued)
Important factors that could cause actual results to differ materially from such plans, estimates, or expectations include, among others: that one or more closing conditions to the proposed transaction, including
certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, including that a governmental entity may prohibit, delay, or refuse to grant approval for the consummation of the proposedtransaction, may require conditions, limitations, or restrictions in connection with such approvals or that the required approval by the shareholders of TechTarget may not be obtained; the risk that the proposedtransaction may not be completed in the time frame expected by Informa, TechTarget, or NewCo, or at all; unexpected costs, charges, or expenses resulting from the proposed transaction; uncertainty of the
expected financial performance of NewCo following completion of the proposed transaction; failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the
proposed transaction or integrating the relevant portion of the Informa Tech business with the business of TechTarget; the ability of NewCo to implement its business strategy; difficulties and delays in achieving
revenue and cost synergies of NewCo; the occurrence of any event that could give rise to termination of the proposed transaction; potential litigation in connection with the proposed transaction or other settlements
or investigations that may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification, and liability; evolving legal, regulatory, and tax regimes; changes in
economic, financial, political, and regulatory conditions, in the United States and elsewhere, and other factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics,
geopolitical uncertainty, and conditions that may result from legislative, regulatory, trade, and policy changes associated with the current or subsequent U.S. administration; risks related to disruption of management
time from ongoing business operations due to the proposed transaction; certain restrictions during the pendency of the proposed transaction that may impact TechTarget’s ability to pursue certain business
opportunities or strategic transactions; Informa’s, TechTarget’s, and NewCo’s ability to meet expectations regarding the accounting and tax treatments of the proposed transaction; the risk that any announcements
relating to the proposed transaction could have adverse effects on the market price of TechTarget’s common stock; the risk that the proposed transaction and its announcement could have an adverse effect on theability of TechTarget to retain customers and retain and hire key personnel and maintain relationships with customers, suppliers, employees, stockholders, strategic partners and other business relationships and on
its operating results and business generally; market acceptance of TechTarget’s and the relevant portion of the Informa Tech business’s products and services; the impact of pandemics and future health epidemics
and any related economic downturns, on TechTarget’s business and the markets in which it and its customers operate; changes in economic or regulatory conditions or other trends affecting the internet, internet
advertising and information technology industries; data privacy and artificial intelligence laws, rules, and regulations; the impact of foreign currency exchange rates; certain macroeconomic factors facing the global
economy, including instability in the regional banking sector, disruptions in the capital markets, economic sanctions and economic slowdowns or recessions, rising inflation and interest rate fluctuations on
TechTarget’s and the relevant portion of the Informa Tech business’s results; and other matters included in TechTarget’s filings with the SEC, including in Item 1A of its Annual Report on Form 10-K for the year
ended December 31, 2022 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed
in the Proxy Statement/Prospectus that will be included in the registration statement on Form S-4 that will be filed with the SEC in connection with the proposed transaction. While the list of factors presented here is,and the list of factors to be presented in registration statement on Form S-4 will be, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties.
Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any of these forward-looking statements as they are notguarantees of future performance or outcomes and that actual performance and outcomes, including, without limitation, our actual results of operations, financial condition and liquidity, and the development of newmarkets or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained in this communication.
Any forward-looking statements speak only as of the date of this communication. None of Informa, TechTarget, or NewCo undertakes any obligation to update any forward-looking statements, whether as a result of
new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this communication nor the continued availability of this communication in archive form on
TechTarget’s website at www.TechTarget.com or Informa’s website at www.informa.com/investors should be deemed to constitute an update or re-affirmation of these statements as of any future date.

Thank you

Informa.com