Informa Group Annual Report and Accounts 2021

Informa in 2021

REVENUE £1,799m 2020: £1,661m

UNDERLYING REVENUE GROWTH/(DECLINE)*

6.1% 2020: (41.0%)

REPORTED REVENUE GROWTH/(DECLINE)

8.3% 2020: (42.5%)

ADJUSTED OPERATING PROFIT*

STATUTORY OPERATING PROFIT/(LOSS)

£94m 2020: £(882m)

ADJUSTED DILUTED EARNINGS PER SHARE*

16.7p

2020: 9.8p

STATUTORY DILUTED EARNINGS PER SHARE

FREE CASH FLOW* £439m 2020: £(154m)

* In this report, we include IFRS measures and alternative performance measures. For clarity, each alternative performance measure is marked by an asterisk the first time it is used. See definitions on pages 255 and 256

6–13 Group Chief Executive's Review

14–19 Market Trends

32–36 Colleagues and Culture

110–159
Corporate Governance Report

STRATEGIC REPORT 2–99	Informa at a Glance Why Invest? Introduction from the Chair Group Chief Executive's Review Market Trends Business Model Group Strategy FasterForward Approach to Engagement Section 172 and Non-Financial Information Statements Divisional Snapshot Divisional Review – Academic Markets & Knowledge Services – B2B Markets & Digital Services – Informa Intelligence Key Performance Indicators Risk Management – Principal Risks and Uncertainties – Climate Impacts – Viability Statement Financial Review	2 3 4 6 14 20 22 24 30 46 50 52 52 56 64 66 68 73 80 83 86
GOVERNANCE REPORT 100–159	Chair's Introduction to Governance Board of Directors Governance at a Glance Corporate Governance Report Nomination Committee Report Audit Committee Report Directors' Remuneration Report Other Statutory Information Statement of Directors' Responsibilities	100 104 108 110 120 124 132 156 159
FINANCIAL STATEMENTS 160–257	Independent Auditor's Report Consolidated Income Statement Consolidated Statement of Comprehensive Income Consolidated Statement of Changes in Equity Consolidated Balance Sheet Consolidated Cash Flow Statement Notes to the Consolidated Financial Statements Parent Company Balance Sheet Parent Company Statement of Changes in Equity Notes to the Parent Company Financial Statements Glossary of Terms: Alternative Performance Measures Five-Year Summary	160 171 172 173 174 175 176 247 248 249 255 257
COMPANY INFORMATION 258–260	Shareholder Information Advisers	258 260

Informa at a Glance

WE DELIVER:

Specialist content. Smart events. Academic knowledge services. Firstparty customer data. Buyer and product discovery services. Networking and partnering platforms. Open research services. Expert research and data. Audience development services. Advanced learning. Accredited training. Digital demand generation.

TO SPECIALISTS IN MARKETS AND CATEGORIES INCLUDING:

Aviation. Pharma. Cyber Security. Engineering. Health & Nutrition. Medicine. Fashion. Social Sciences. Private Equity. Enterprise IT. Biotech. Fintech. Construction. Beauty & Aesthetics. Food & Hospitality. Environmental Sciences. Education. Brand Licensing. Manufacturing.

WHAT MAKES US DIFFERENT:

Unique, high quality knowledge. Strong specialist brands. Deep and engaged customer relationships. International reach. The creativity and contribution of our colleagues. A purpose focused on customers and a culture based on inclusion and agility. Sustainable business practices and a role helping our markets become more sustainable.

AT INFORMA WE'RE HERE TO CHAMPION THE SPECIALIST, CONNECTING PEOPLE WITH KNOWLEDGE TO HELP THEM LEARN MORE, KNOW MORE AND DO MORE

3 Why Invest?

GROWING DEMAND FOR SPECIALIST KNOWLEDGE SEE PAGES 22 AND 23 FOR GROUP STRATEGY UNIQUELY POSITIONED SEE PAGES 6 TO 13 FOR GROUP CHIEF EXECUTIVE'S REVIEW ACCELERATING DIGITISATION SEE PAGES 50 TO 65 FOR DIVISIONAL REVIEWS STRONG FINANCIALS SEE PAGES 86 TO 99 FOR FINANCIAL REVIEW ACCELERATING SUSTAINABILITY SEE PAGES 24 TO 29 FOR FASTERFORWARD • Specialist brands and strong market positions in the ever-growing Knowledge and Information Economy • International reach combined with deep expertise in a range of customer markets • Balanced portfolio focused on two leading scale businesses operating across multiple geographies and products • Agile and flexible approach in responding to diverse customer preferences • A digital-first, data-driven mindset and products alongside powerful live and on-demand events • Deep customer relationships and first-party customer data driving continuous improvements and new services • Continuous investment in dynamic, engaged and inclusive culture • Accelerating pace of digitisation across all areas of the business • Expanding live and on-demand business-tobusiness (B2B) events as smart events and B2B market access powered by IIRIS • Further expanding open research offering • Championing the specialist in everything we do • Continuing commitment to sustainable business practices through FasterForward • Growing revenue streams • Flexible operating model • Strong cash conversion • Robust balance sheet • Disciplined approach to capital returns

4 Introduction from the Chair

IT IS A PRIVILEGE TO INTRODUCE INFORMA'S 2021 ANNUAL REPORT TO SHAREHOLDERS AND ALL READERS, HAVING TAKEN UP THE POSITION OF CHAIR AT THE GROUP'S JUNE 2021 ANNUAL GENERAL MEETING (AGM) AFTER NEARLY FIVE YEARS AS A NON-EXECUTIVE DIRECTOR.

John Rishton Chair

There are many Shareholders, and indeed many Informa colleagues, who value the chance to review the Company's performance, progress, plans and ways of working in depth. We hope that this report provides that opportunity once again.

Last year, I shared my excitement about the opportunities that lie ahead for Informa. Looking back at 2021 and forward into the coming years, this firmly remains the case.

The last 12 months have been a transition period for the Group. After the significant impact of the pandemic in 2020 and an effective action plan to achieve stability and security, 2021 was a year when Informa's Board and leadership team could once again look ahead and embark on the activities and investments that will deliver the next stage of the Company's growth and expansion.

STRATEGIC REPORT

PERFORMANCE AND AMBITION

As the Group Chief Executive and Group Finance Director explain, Informa delivered an improving and encouraging financial performance in 2021 that was in line with the targets set out to Shareholders earlier in the year.

The Company also set out its future ambition, through the 2021-2024 Growth Acceleration Plan (GAP II), to create further scale and success in the two markets in which Informa has leadership positions and where it so effectively connects people with knowledge: in B2B Markets and in Academic Markets.

GAP II, as laid out on pages 22 and 23, is designed to make the most out of Informa's unique strengths and characteristics: the position and power of the Group's specialist brands, the ongoing growth and evolution of the Knowledge and Information Economy in which Informa operates, the quality of leadership and talent at all levels, the way sustainability is both increasingly embedded into the business and an opportunity for further growth, and the strength of the Company's customer platforms.

The full focus of the Board and leadership team is now on GAP II and acceleration in all areas. This includes an acceleration in digital and data leadership, as the title of this report makes clear, by building on the growing range and depth of platforms and services Informa has built for customers in recent years. It includes an acceleration in investment in products, brands, technology and talent.

SHAREHOLDER SUPPORT AND RETURNS

It also includes accelerating growth and returns for Shareholders. In December 2021, it was announced that as a consequence of focusing on B2B Markets and Academic Markets, the Group would divest Informa Intelligence and its portfolio of specialist data and intelligence brands. This will unlock the significant value built in these businesses after many years of focus, investment and improvement by the management team, while providing the funds to accelerate investment in our two leading businesses.

The Board was pleased to confirm that the proceeds will also enable up to £1bn of capital to be returned to Shareholders, including in the form of a share buyback programme which has since started.

THE FULL FOCUS OF

THE BOARD AND LEADERSHIP TEAM IS NOW ON GAP II AND ACCELERATION IN ALL AREAS

This amount is similar to the level of support provided by Shareholders at the height of the pandemic in 2020, and it is gratifying to be able to recognise and reward that support. The Group also plans to resume ordinary dividends at the time of the 2022 interim dividend.

STEWARDSHIP AND ENGAGEMENT

There were several additional developments on Informa's Board during 2021. Planned retirements at the time of the AGM provided the opportunity to replenish the Non-Executive skills and experience available to the Company and add talent in areas most relevant to Informa's GAP II ambitions.

As described in detail in the Corporate Governance Report starting page 110, we were delighted to welcome Louise Smalley, Joanne Wilson and Zheng Yin as Non-Executive Directors during the fourth quarter.

Informa's Directors both enjoy and take their responsibilities to the Company and its stakeholders seriously. As in previous years, we seek to maintain direct and productive relationships with Shareholders, colleagues and other communities, taking a range of perspectives and feedback into account in decision making, as I explain in our Section 172 statement on pages 46 to 48.

Such engagement was an immediate priority for me on taking up the position of Chair, as it was for Louise Smalley as Chair of the Remuneration Committee. There is full information the Board's varied engagement with colleagues and dedicated roadshows and meetings with Shareholders on pages 115 and 116.

I would like to take this opportunity to thank all Informa's colleagues for the continued drive and contribution to the Company and to its customers, and to put on record my personal thanks and that of the wider Board to the Chief Executive and his leadership team, for their full focus and commitment to delivering outstanding results and benefits for everyone connected with Informa.

I am excited to be part of this journey with the Company and look forward to the further progress and success that is to come.

John Rishton Chair

14 March 2022

Group Chief Executive's Review

GROWTH ACCELERATION

INFORMA ENTERED 2021 WITH STABILITY, STRENGTH AND THE CLEAR GOAL OF RETURNING TO LONG-TERM SUSTAINABLE GROWTH. 12 MONTHS ON, WE HAVE DELIVERED A RESILIENT PERFORMANCE AND EMBARKED ON AN AMBITIOUS PROGRAMME OF GROWTH, INVESTMENT AND DIGITAL ACCELERATION: GAP II.

Stephen A. Carter Group Chief Executive

We continued to manage through and work around the impacts of the pandemic during 2021, particularly as it affected our live events in different locations at different times during the year, maintaining our support for colleagues and focus on delivering for customers throughout.

We also seized the opportunity to look further ahead, taking a number of decisions about the future shape of the Company and setting out a clear direction for the next four years through the 2021-2024 Growth Acceleration Plan II.

GAP II is modelled on the structure, discipline and success of the 2014-2017 Growth Acceleration Plan.

FINANCIAL STATEMENTS

COMPANY INFORMATION

It will see us focus on the two markets where Informa has scale leadership positions: B2B Markets and Academic Markets. It will bring additional investments into our products and platforms, further extending and enriching our digital and data capabilities in particular.

It will also place even greater emphasis on our FasterForward programme to embed sustainability more deeply throughout the Company.

Over the four-year period, GAP II will see us champion specialists in new ways, delivering knowledge and connections to customers through an expanded and enhanced range of products and platforms. It will help us create a higher growth, higher quality and higher value business, and we are excited about the potential benefits for our colleagues, our customers and our Shareholders.

IMPROVING REVENUES, PROFITS AND CASH FLOW

In 2021, Informa delivered improvements in revenues, profits and cash flow as a result of the continued strength of our subscriptionsled businesses, growing demand for digital services across the Group and the impact of a phased return of physical events over the course of 2021.

Group revenues were just under £1,800m (2020: £1,661m), representing an underlying revenue growth of 6.1% and a reported revenue growth of just over 8%. Adjusted operating profit also improved to £388m from £267m in 2020. On a statutory basis, operating profit was £94m, substantially higher than the prior year's loss (2020: £(882m)) reflecting the growth in profits and last year's non-cash goodwill impairment.

As a Group, we not only met the financial commitments set out to Shareholders but exceeded expectations in certain areas, including in our cash flow performance.

The generation of free cash flow has long been an important metric for Informa. After the impact of the pandemic during 2020, we set a goal of delivering positive free cash flow on a monthly basis coming into 2021 and, across the year, generated nearly £440m of free cash flow compared with an outflow of around £150m in 2020. Operating cash flow, which measures cash flow before costs such as tax and interest, was £570m (2020: £231m).

OVER THE FOUR-YEAR PERIOD, GAP II WILL SEE US CHAMPION SPECIALISTS IN NEW WAYS, DELIVERING KNOWLEDGE AND CONNECTIONS TO CUSTOMERS THROUGH AN EXPANDED AND ENHANCED RANGE OF PRODUCTS AND PLATFORMS

This strong cash performance helped to lower net debt to just under £1,440m* as at the end of December (2020: £2,030m), reducing the Group's leverage* to below three times, a significant advance on where the Company was one year ago. Informa continues to have no financial covenants on any Group level borrowings.

This improving performance led the Board to confirm its intention to resume ordinary dividends to Shareholders at the time of the interim dividend in 2022. This is in addition to generating Shareholder returns from divesting our Intelligence businesses under GAP II, which we will come on to discuss further.

DIVISIONAL PROGRESS

Each of Informa's five Divisions recorded positive and improved underlying revenue growth in 2021, with strong performances in Informa Intelligence and in our Academic Markets & Knowledge Services business Taylor & Francis, and improving momentum across our three B2B Markets & Digital Services Divisions: Informa Markets, Informa Connect and Informa Tech.

Group Chief Executive's Review

continued

In Taylor & Francis, revenues were £545m (2020: £556m) with underlying revenue growth of 2.4%. Its reported revenue decline of (1.9%) (2020: (0.6%)) reflects the impact of exchange rates in a business that generates a large proportion of its revenues in US dollars and currencies linked to the dollar.

Since the start of GAP I, in Taylor & Francis, we have steadily built a business with a strong position in the growing market for open research, a strong digital infrastructure, increasingly advanced digital and data capabilities and a consistent financial performance, which we are now looking to accelerate as part of GAP II.

2021 was a transition year for our three B2B Markets & Digital Services businesses. Live events began to return in number, albeit at different times in different markets, and our specialist digital services and platforms further expanded. This has delivered an improving performance despite some ongoing disruption from the pandemic.

Across the three Divisions, there was enduring demand for our specialist, customer market-focused events. We ran over 350 live B2B events in Asia, the Middle East and North America during 2021, generating revenues of over £600m. Over 70 events delivered revenues in excess of 85% of their prepandemic levels, despite many events taking place at unfamiliar times or being affected by travel restrictions, and rebooking rates for 2022 have been encouraging.

At the same time, we have continued to develop our B2B Digital Services products, which include specialist content and media platforms that serve our markets and support our audience development services, marketplaces and matchmaking platforms that connect buyers with sellers online, and smart events that range from sponsored webinars to multi-day festivals. The data generated through these products is supporting our expansion into digital demand generation and services that deliver highly qualified leads to marketers: a priority area for investment under GAP II.

Revenues in Informa Markets rose to £609m (2020: £524m) with an underlying revenue growth of 7.7% (2020: (63%)). This business, which has a strong presence in China, benefited from the ability to operate physical events in most of the major Chinese hubs throughout the greater part of 2021.

Informa Connect delivered revenues of £131m (2020: £124m) with underlying revenue growth at 3.8% (2020: (55%)) and Informa Tech, which focuses on customers working in specialist technology markets, delivered revenues of £166m (2020: £152m) and underlying revenue growth of 13.9% (2020: (46%)).

PERFORMANCE AND SCALE IN INTELLIGENCE

In 2021, Informa Intelligence generated revenues of just under £350m (2020: £305m) with an underlying revenue growth of 6.5% (2020: 1.8%). This strong performance is, in the main, thanks to the foundations built under GAP I.

Between 2014 and 2017 we invested in new leadership, in products and platforms, in digital and data capabilities, in strengthening customer relationships and in driving improved renewal rates, refocusing the portfolio around targeted specialist markets and returning it to revenue growth.

Today, Informa Intelligence comprises a series of high performing brands, providing specialist, subscription-based data and information to companies working in clinical trials and pharma, in maritime and vessel tracking, and in international fund and fixed income investment flows.

These businesses do not, however, currently have scale in their respective end markets, and it is our belief that the best opportunities for Informa will come from focusing and further investing in the two markets in which we have sizeable leadership positions.

In December, as part of GAP II, we therefore announced the decision to divest our Intelligence businesses. This started a process to seek owners who are best placed to continue to serve our customers, and to support the professional and personal interests of our colleagues, by further developing our brands and expanding their reach and position.

In February 2022, we reached an agreement for Pharma Intelligence, the largest portfolio in the Division, with a long-term and investment-focused partner, at a value that reflects the quality of the business and its potential for continued growth.

GROWTH ACCELERATION

When completed, the sale of the Informa Intelligence portfolio will unlock some of the significant value created in those businesses following the transformation of the last five to seven years.

We intend to use the proceeds to fund up to £150m of net incremental GAP II investment into our Academic Markets and B2B Markets businesses, to pay down debt and create further strength and flexibility in the balance sheet, and to provide a return to Shareholders of up to £1bn. As part of this return, the Group commenced a share buyback programme in February 2022.

After what has been a transition year, Informa's single-minded focus is now on the future, on growth and acceleration through to 2024 and on delivering new Informa through GAP II.

The plan we have laid out, which can be seen in full on pages 22 and 23, is about making the most of our brands and market leadership positions, extending our products and platforms and seizing opportunities from customer and market trends. While many of these trends are not new, many have been accelerated by the experience of the pandemic.

The Knowledge and Information Economy continues to grow at pace. It has been estimated that human knowledge doubled every 12 months in 1984 and every 12 hours in 2020, heightening the value of access to relevant, specialist knowledge and content that has been curated, qualified and is delivered in an effective way.

In every market, digital channels are being used in a deeper and more sophisticated way for business activity. As a by-product, these activities and interactions are generating larger amounts of data, including data that can provide a deep insight into customer and purchasing interests.

Technology is ever-advancing: in what platforms and apps can do and offer, in the depth and variety of formats, in the sophistication of analytical capabilities. At the same time, however, the pandemic has also demonstrated the importance of community, the power of tangible experiences and the irreplaceability of in-person human connection. There is more insight into these trends, including perspectives from colleagues, on pages 16 to 19.

10 Group Chief Executive's Review continued

GROWTH ACCELERATION IN ACADEMIC MARKETS

In Taylor & Francis, through GAP II, we are looking to accelerate growth and create more customer benefits by expanding our position in open research, broadening our range of knowledge services and extending our reach, particularly within the research and development community.

For the last five years, we have been steadily building a position in open research, where funders pay for research to be validated, published, curated and hosted. This has included internal investment and the addition of high quality specialist brands and teams such as Dove Medical Press and the F1000 business.

Open research comes in many forms and, through GAP II, we plan to expand the range of options Taylor & Francis provides: whether a customer chooses to publish in a subscription journal or a fully open access journal, to publish an early or pre-print version of their research, to make data notes and research models available, or where a funder wants a high quality platform through which to self-publish research.

With more, and more complex, knowledge being created every day, we will be further investing in our knowledge platforms to allow us to process greater volumes of submissions effectively, adding features to make knowledge as usable as possible and continuing to make gains in the discoverability of our research, whether it is through search engines or our own channels.

Through expansion and investment in technology and platforms, in digital content and product management, in data management and analytics and in our talent, we believe that Taylor & Francis can extend its leadership position in Academic Markets and accelerate its growth, with a target of delivering over 4% underlying revenue growth by the end of 2024.

DATA ACCELERATION THROUGH IIRIS

Our B2B Markets businesses have long captured high quality first-party customer data thanks to the position our brands hold in their specialist markets, the engaged audiences around them and the close customer relationships our teams have built.

With more business activity conducted digitally through the pandemic and the expansion of our digital services, more data and richer data is now being generated and captured. This includes behavioural and intent data that goes well beyond contact, demographic and company details.

The challenge is collecting data consistently with discipline and appropriate consents, managing it on an ongoing basis, enriching it to ensure accuracy, relevance and quality, and having the analytical capabilities to derive valuable insights from it.

As colleagues share on page 17, we created IIRIS in 2021 as a centralised data and analytics engine for all our B2B Markets customer data to capture the opportunities from using data to enhance our existing products and develop new digital demand generation services.

IIRIS is progressively expanding its programme of data collection, curation, management and insights across all our B2B Markets brands. We are building increasingly high quality audience profiles and aim to double our current known, engaged and marketable audience of over 10m customers to 20m by 2024.

Services that are already being applied in the business are IIRIS Passport, which simplifies registration and embeds consent-driven tracking; IIRIS Recommend, which delivers more valuable and tailored content and connection recommendations by understanding audiences better; and IIRIS Insights and IIRIS Segment, which precisely match sellers with qualified buyers and prospects based on behavioural insight. Further examples are on pages 56 to 63.

GROWTH ACCELERATION IN B2B MARKETS

Specialist knowledge, but also specialist connections, lie at the heart of our three B2B Markets Divisions. Businesses and professionals use our products and platforms to learn, acquire knowledge they can apply and make relevant connections that further their individual and business goals.

Scale, live events offer a powerful and efficient platform for sellers to meet and do business with a large number of relevant buyers, in one place and time. We believe their customer value will endure, particularly in a world where, after the experience of the pandemic, a higher bar is likely to be set on business travel.

With travel expected to be more efficient and purposeful, attending one specialist scale event, instead of undertaking individual trips to achieve the same business outcome, can help customers consolidate their travel, time and use of carbon.

One of our FasterForward programme goals is to save our customers more carbon than they emit by 2025, and results from our surveys and research suggest that our face-to-face platforms are well placed to act as consolidators of business travel.

DIGITAL AND DATA ACCELERATION

At the same time, with digital connectivity becoming more deeply embedded in B2B communities, the opportunities from digital market access are also expanding.

Today, we provide digital market access, or ways for businesses to reach customers and nurture leads through data and digital channels, in three main ways: through smart events, audience development services and digital demand generation products.

Smart events, which can be either fully virtual products or a physical event enhanced with digital features, are delivering an increasingly rich experience for customers. The ability to access relevant digital content in advance, the ease of registration and the quality of pre, at and post-event online matchmaking and networking are engaging customers and audiences at a deeper level.

They also generate powerful data that we are using to improve products, better target our marketing and expand our audience development services, helping marketers reach the audiences around our brands through content-focused campaigns.

We are also going further into the newer area of digital demand generation: making full use of the first-party customer data we hold to deliver new, data-driven lead generation services to B2B companies. Underlying this is IIRIS, Informa's centralised data and analytics engine for all our B2B Markets customer data. This is further described opposite. Over the next four years, the aim is to build IIRIS into a world-class data engine that is at the heart of delivering our growth ambitions.

In December, to add specific digital demand capabilities in the Tech market, we acquired NetLine, a company that provides permissioned, first-party data and targeted leads to tech marketers.

By accelerating our digital and data capabilities and increasing investment in products, platforms and analytics, we believe we can further accelerate growth across our B2B Markets & Digital Services businesses, deepen our positions in our specialist markets and deliver more for our customers. Under GAP II, 25% of our B2B Markets revenues are targeted to come from digital services by 2024.

12 Group Chief Executive's Review continued

INVESTING IN CULTURE

While continued investment in products and technology is fundamental to GAP II, Informa remains a people business at its heart. The commitment, skills, expertise, creativity, engagement and contribution of our over 10,000 colleagues drive Informa's brands and make a difference to what we can deliver for customers, which is why leadership and talent is also a focus of GAP II.

With digital and data acceleration increasingly important throughout the Company, we are adding new roles in areas such as data analytics, digital product management and marketing and platform development. We are also providing opportunities for colleagues to enhance their digital knowledge and skills through expanding role and market-specific training programmes.

We have continued to focus and invest in our culture more broadly, and in the support and opportunities that make Informa an enjoyable and rewarding place to work. As in many companies, the experience of the pandemic has brought about changes in how and where colleagues are based.

At Informa, we have long recognised the personal and professional benefits of flexibility, and believe that time spent in person, collaborating and working alongside each other in an office hub, helps us to develop and learn, stay connected and be more creative. Starting in 2022, the majority of colleagues are expected to work in a balanced way, mixing time in the office with time spent working remotely to a balance that is tailored to each role, location and market.

Informa continues to provide a high and consistent level of support to colleagues wherever they work, from access to expert third-party assistance and wellbeing services to technology that makes it easy to work productively and connect from anywhere. During 2021, we made further investments into the ShareMatch programme, to the fullest level possible under scheme rules, offering colleagues a chance to connect with the Company at a deeper level and share in the rewards of future performance under GAP II.

AllInforma, our Group-wide diversity and inclusion programme, made further significant strides during the year, as described on page 34.

Informa has five established and funded networks, run by colleagues, with each supported by an executive and a Board level sponsor. Based on input from the networks and direct colleague feedback, we have been piloting new training opportunities and a reverse mentoring initiative. This has seen members of our colleague-led networks meet and share perspectives with senior leaders, a rewarding and insightful experience for all.

ACCELERATING FASTERFORWARD

It was through GAP I that Informa began to address sustainability in a more programmatic and increasingly ambitious way. We invested in talent and expertise, worked to strengthen our operational practices and, in 2020, launched the FasterForward programme to accelerate our position as a sustainable, positive impact business.

We have steadily improved our practices and the Group is increasingly recognised for sustainability performance in independent analysis. Informa was first certified as a CarbonNeutral® Company in 2020 and has gradually risen up the ranks of the Dow Jones Sustainability Index, achieving the number one position globally in the media sector for the first time in 2021.

The continued delivery of FasterForward is an embedded part of GAP II because we consider responsible and sustainable business practices to be essential for a successful and thriving Company, and because we see opportunities to help our customers and markets accelerate their own shift to a lower carbon world where social and community impact matters more than ever.

Under GAP II, we are focused on extending our performance and further operationalising sustainability throughout the business. Each Division has its own specific goals, including for carbon and waste reduction, which align to our nine Company-wide FasterForward commitments.

We continue to work towards embedding sustainability inside 100% of Informa's brands, to help every customer discover relevant, specialist sustainability knowledge and opportunities, and invest in initiatives that extend benefits to the communities we work in.

COMPANY INFORMATION

CREATING NEW INFORMA

Through focus and deeper market specialisation, digital and data acceleration, the continued championing of our customers, further progress on sustainability and investment in our colleagues and culture, we are creating a new Informa, and we are excited about the Company's future potential.

Allowing for the impact of the divestment of Informa Intelligence, we believe that through GAP II, Informa will deliver the same revenues in 2024 as it did in 2019 before the pandemic, with a higher growth rate and a higher quality mix of revenues, and with leadership positions that will serve our customers increasingly well.

The last two years have undoubtedly been demanding, and Informa has been fortunate in the support and partnership shown by many groups.

I would like to thank Informa Shareholders for the significant support provided over this period, as we looked to stabilise the business and return to a position where we could embark on growth acceleration once again.

A deep appreciation also goes to colleagues. The continued contribution, agility, creativity and engagement shown by everyone at Informa has been impressive and a true credit to the business.

A final and sincere thanks goes to the Board for its commitment and ongoing guidance, and in particular to the Chair John Rishton who, having stepped up into the position of Chair in 2021, has been an outstanding partner to the Company and leadership team as Informa sets out on its next phase of growth and performance.

Stephen A. Carter Group Chief Executive

14 March 2022

A CONNECTED CULTURE

Opportunities to get together and connect in person are not only something we provide to customers; they are a firm part of our culture and what makes working at Informa rewarding and enjoyable.

We were fortunate to have several opportunities to connect, engage, share and celebrate in person during 2021.

One such occasion was the Informa Awards: a popular date in the diary when colleagues are recognised and celebrated for outstanding individual and team achievements.

The 2021 ceremony was live-streamed from London with participation from colleagues around the world. Anchors linked up live to hosts and local awards parties in New York, Hong Kong, Dubai and Amsterdam and presenters were chosen via a video competition. This allowed a broad range of colleagues to play a fuller role in the awards, showcasing and supporting Informa's diverse and international culture.

A senior leadership event was also held in the UK to discuss the focus and implementation of the 2021-2024 Growth Acceleration Plan. This brought together 40 colleagues, including invited members of our AllInforma diversity and inclusion networks, to connect, discuss and input into the development of GAP II.

We were also fortunate to be joined by Informa Board Chair John Rishton, who shared his perspectives and spent time meeting and listening to colleagues.

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Market Trends

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