2018 Interim Results

London
4 SEPTEMBER 2018

WPP plc 1
2018 INTERIM RESULTS

Safe Harbour Statement

The following cautionary statement is included for safe harbour purposes in connection with the Private Securities Litigation
Reform Act of 1995 introduced in the United States of America. This presentation may contain forward-looking statements
within the meaning of the US federal securities laws. These statements are subject to risks and uncertainties that could
cause actual results to differ materially including adjustments arising from the annual audit by management and the
Company’s independent auditors. For further information on factors which could impact the Company and the statements
contained herein, please refer to public filings by the Company with the Securities and Exchange Commission. The
statements in this presentation should be considered in light of these risks and uncertainties.

WPP plc 2
2018 INTERIM RESULTS

First Half Highlights

 Improving top-line growth – like-for-like revenues less pass-through costs up 0.7% in Q2, the first quarter of growth since Q1
2017.
 Overall North America like-for-like growth still challenging, as advertising, data investment management and brand
consulting came under further pressure, but strong improvement in media investment management. Remains the highest
priority to improve.
 Slight decline in like-for-like Headline PBIT margin of 0.4 margin points (of which 0.1 margin point is due to lower associate
income), with higher incentives accounting for 0.2 margin points. Increase in property and other operating costs offsetting
improvement in staff costs pre-incentives. Average headcount reduced by over 2,000 staff or 1.7%.
 Good progress on the asset disposal plan, raising £676m cash proceeds so far this year, with no loss of revenue and minimal
impact on profit.
 Net debt at 30 June only £84m better, despite asset disposals of £469m in first half, following worse NWC position.
However, significant improvement in net debt position at 31 July, favourable £508m compared with last year, reflecting
improved NWC. Further cash proceeds of £207m received in August and early September.
 Interim dividends maintained at 22.7p same as 2017.
 Full year guidance updated to reflect the revenue less pass-through costs and margin performance in the first half.
WPP plc 3
2018 INTERIM RESULTS

Summary IFRS Income Statement

Δ CONSTANT
HALF YEAR TO 30 JUNE 2018 £M 2017¹ £M Δ REPORTED² CURRENCY³

Revenue 7,493 7,650 -2.1% 2.9%

Gross profit 1,274 1,368 -6.9% -2.2%

Operating profit 842 724 16.2% 22.5%

PBIT⁴ 851 784 8.6% 14.5%

Profit before tax 846 779 8.6% 14.2%

Tax rate 16.7% 18.7% - -

Profit after tax 705 634 11.3% 16.8%

Reported diluted EPS 53.4p 46.6p 14.6% 20.3%

1 2017 revenue and revenue less pass-through costs restated by £247m and £14m respectively for the implementation of IFRS 15
2 Percentage change in reported sterling
3 Percentage change at constant currency rates WPP plc 4
4 Includes net exceptional gain of £114m
2018 INTERIM RESULTS

Summary Headline¹ Results

Δ CONSTANT
HALF YEAR TO 30 JUNE 2018 £M 2017² £M Δ REPORTED CURRENCY Δ LIKE-FOR-LIKE³
Revenue 7,493 7,650 -2.1% 2.9% 1.6%
Revenue less pass-through costs 6,149 6,376 -3.6% 1.4% 0.3%

PBIT before associates 783 836 -6.3% -1.6%

PBIT 821 882 -7.0% -2.3%
EBITDA 948 1,016 -6.7% -1.9%

PBIT before associates margin⁴ 12.8% 13.1% -0.4⁵ -0.4⁵ -0.3⁵

PBIT margin⁶ 13.3% 13.8% -0.5⁵ -0.5⁵ -0.4⁵

Tax rate 22.5% 22.0% n/a n/a

Diluted EPS 42.6p 45.4p -6.2% -1.3%

Dividend per share 22.7p 22.7p - -

Average net debt (4,979) (4,811) -3.5% -5.8%

Rolling average net debt/EBITDA⁷ 2.1x 1.9x n/a n/a
1 Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on 4 Headline PBIT before associates as a percentage of revenue less pass-through costs margin
disposals of subsidiaries and investments, investment write-downs, share of exceptional 5 Margin points
gains/losses of associates, restructuring costs and revaluation of financial instruments 6 Headline PBIT as a percentage of revenue less pass-through costs margin
2 2017 revenue and revenue less pass-through costs restated by £247m and £14m respectively 7 Average Net debt/EBITDA for 12 months to 30 June
for the implementation of IFRS 15
3 Like-for-like growth at constant currency exchange rates and excluding the effects of WPP plc 5
acquisitions and disposals
 2018 INTERIM RESULTS

Revenue Less Pass-Through Costs Growth versus Prior Year

Q1 Q2 H1

1.1%
Like-for-like -0.1% Like-for-like 0.7% Like-for-like 1.1% 0.3%
0.7%
0.3%
-3.9%

-5.0%
Acquisitions 1.1% Acquisitions 1.1% Acquisitions 1.1%

FX -6.1% FX -3.9% FX -5.0%

Reported -5.1% Reported -2.1% Reported -3.6%

WPP plc 6
2018 INTERIM RESULTS

Impact of Foreign Exchange on Revenue Less Pass-Through Costs

2017 FY ACT 2018 Q1 ACT 2018 Q2 ACT 2018 Q3 EST 2018 Q4 EST 2018 FY EST
6%

4%

4.6%
2%
 H1 headwind -5%.
 Full year headwind -3%.
0%
-0.7%  Q3-Q4 run at £/US$ 1.30
-2.3%
-3.1%
and £/€ 1.11.
-2% -3.9%

-6.1%

-4%

-6%

-8%

WPP plc 7
2018 INTERIM RESULTS

Revenue Less Pass-Through Costs by Region

REVENUE LESS PASS-THROUGH COSTS

Δ CONSTANT Δ LIKE-
HALF YEAR TO 30 JUNE % GROUP 2018 £M 2017¹ £M Δ REPORTED CURRENCY FOR-LIKE

North America 35.0 2,155 2,407 -10.5% -2.4% -2.9%

UK 13.5 833 815 2.2% 2.2% 1.5%

Western Continental Europe 21.5 1,319 1,236 6.7% 5.5% 1.9%

Asia Pacific, Latin America, Africa & Middle East

30.0 1,842 1,918 -4.0% 3.1% 2.6%
and Central & Eastern Europe

Total 100.0 6,149 6,376 -3.6% 1.4% 0.3%

1 2017 revenue less pass-through costs restated by £14m for the implementation of IFRS 15 WPP plc 8
2018 INTERIM RESULTS

Revenue Less Pass-Through Costs Like-For-Like Growth by Region

C. & E. Europe
Q1 Q2
5.6% 3.1%

UK
Q1 Q2
1.6% 1.4%
North America
Q1 Q2
-2.4% -3.3% W. Cont. Europe
Q1 Q2
-0.2% 3.9% Asia Pacific
Q1 Q2
0.7% 1.8%

Africa & M. East

Q1 Q2
-3.1% -1.6%
Latin America
Q1 Q2
9.1% 8.6%
Q1 Q2 H1
Mature Markets -1.0% -0.3% -0.6%
“Faster Growing” Markets 2.3% 2.9% 2.6%
WPP plc 9
Total -0.1% 0.7% 0.3%
2018 INTERIM RESULTS

Major Markets
USA UK Germany Greater China² France

REVENUE LESS PASS-THROUGH COSTS GROWTH¹

2018 H1 -2.8% 1.5% 0.0% 4.5% 0.3%

2018 Q2 -3.3% 1.4% 5.5% 6.5% -0.1%

2018 Q1 -2.2% 1.6% -5.7% 2.1% 0.7%

2017 FY -3.2% 4.8% -1.3% -3.2% 0.4%

1 Like-for-like growth vs prior year WPP plc 10

2 Includes Hong Kong and Taiwan
2018 INTERIM RESULTS

BRIC Markets
Mainland China Greater China² Brazil India Russia

REVENUE LESS PASS-THROUGH COSTS GROWTH¹

2018 H1 6.6% 4.5% 5.9% 0.9% -4.6%

2018 Q2 9.0% 6.5% 5.9% 1.4% -9.3%

2018 Q1 3.6% 2.1% 6.0% 0.3% 0.6%

2017 FY -1.8% -3.2% 1.6% 1.1% -15.4%

1 Like-for-like growth vs prior year WPP plc 11

2 Includes Hong Kong and Taiwan
2018 INTERIM RESULTS

Revenue Less Pass-Through Costs by Sector

REVENUE LESS PASS-THROUGH COSTS

Δ CONSTANT Δ LIKE-
HALF YEAR TO 30 JUNE % GROUP 2018 £M 2017¹ £M Δ REPORTED CURRENCY FOR-LIKE

Advertising, Media Investment

42.9 2,639 2,848 -7.3% -2.8% -0.8%
Management

Data Investment Management 15.4 946 997 -5.1% -0.8% -1.5%

Public Relations & Public Affairs 9.0 551 568 -3.0% 2.6% 3.5%

Brand Consulting, Health & Wellness

32.7 2,013 1,963 2.5% 8.4% 1.9%
and Specialist Communications

Total 100.0 6,149 6,376 -3.6% 1.4% 0.3%

WPP plc 12
1 2017 revenue less pass-through costs restated by £14m for the implementation of IFRS 15
2018 INTERIM RESULTS

Like-For-Like Change in Headline¹ PBIT Margin²

0.2% -0.2%
13.7% -0.1%
-0.2%
-0.1%
13.3%

-0.4%

1 Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, investment write-downs, share of exceptional gains/losses of
associates, restructuring costs and revaluation of financial instruments
2 Headline PBIT as a percentage of revenue less pass-through costs margin WPP plc 13
3 2017 proforma headline PBIT margin restated for the implementation of IFRS 15
2018 INTERIM RESULTS

Headline PBIT and Margin by Region

HEADLINE PBIT¹ £M HEADLINE PBIT MARGIN²

HALF YEAR TO 30 JUNE 2018 2017 2018 2017³

North America 348 401 16.2% 16.7%

UK 110 112 13.2% 13.8%

Western Continental Europe 136 153 10.3% 12.4%

Asia Pacific, Latin America, Africa & Middle

227 216 12.3% 11.2%
East and Central & Eastern Europe

Total 821 882 13.3% 13.8%

1 Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, investment write-downs, share of
exceptional gains/losses of associates, restructuring costs and revaluation of financial instruments
2 Headline PBIT as a percentage of revenue less pass-through costs margin WPP plc 14
3 2017 headline PBIT margin restated for the implementation of IFRS 15
2018 INTERIM RESULTS

Headline PBIT and Margin by Sector

HEADLINE PBIT¹ £M HEADLINE PBIT MARGIN²

HALF YEAR TO 30 JUNE 2018 2017 2018 2017³

Advertising, Media Investment
381 432 14.4% 15.2%
Management

Data Investment Management 112 129 11.9% 13.0%

Public Relations & Public Affairs 85 80 15.5% 14.0%

Brand Consulting, Health & Wellness

243 241 12.1% 12.3%
and Specialist Communications

Total 821 882 13.3% 13.8%

1 Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, investment write-downs, share of
exceptional gains/losses of associates, restructuring costs and revaluation of financial instruments
2 Headline PBIT as a percentage of revenue less pass-through costs margin WPP plc 15
3 2017 headline PBIT margin restated for the implementation of IFRS 15
2018 INTERIM RESULTS

Trade Estimates of Major Client Wins

WPP AGENCY INCUMBENT ACCOUNT OFFICE BILLINGS $M
MediaCom PUB/OMC Mars Global 930
Wavemaker/Mindshare DEN Mondelez EMEA/AP 500
MediaCom DEN Sky Europe 425
MediaCom DEN/PUB Adidas Global 300
Essence PUB T-Mobile N America 274
MediaCom IND Hotels.com N America 175
Wavemaker DEN Danone N America 118
Wavemaker/Y&R IND Altice USA 110
Team Amplify IPG Bose Global 80
MediaCom PUB Ally Financial USA 70
MediaCom PUB Hilton Hotels USA 68
Mindshare OMC Unilever India 65
MediaCom/Y&R OMC Office Depot NAFTA 62
Wavemaker OMC Adobe Global 55
Wavemaker MediaCom Yum! Brands Canada 50¹

Shaded are wins since Q1, underlined are wins since 1 July WPP plc 16
1 Internal transfer of business
2018 INTERIM RESULTS

Trade Estimates of Major Client Losses

WPP AGENCY WINNING AGENCY ACCOUNT OFFICE BILLINGS $M

Mindshare OMC HSBC Global 400
Wavemaker PUB Campbell Soup Co. USA, ANZ, Indonesia 189
Wavemaker PUB Marriott Global 140
Grey N/A Revlon Global 110
Grey N/A Ally Financial USA 87
MediaCom IPG Revlon Global 84
MediaCom PUB P&G Australia 80
JWT IPG Edgewell Global 50
MediaCom Wavemaker Yum! Brands Canada 50¹

Shaded are losses since Q1, underlined are losses since 1 July WPP plc 17
1 Internal transfer of business
2018 INTERIM RESULTS

Internal Estimates of Net New Business Wins: Second Quarter and

Year to Date

2018 Second Quarter 2018 YTD

$M Creative Media Total Total

Advertising 386 629 1,015 2,271

Other Businesses 504 - 504 919

2018 890 629 1,519 3,190

WPP plc 18
2018 INTERIM RESULTS

Cash Flow

HALF YEAR TO 30 JUNE 2018 £M 2017 £M

Operating profit 842 724
Gains on disposal & remeasurement¹ (189) (6)
Non-cash compensation 42 51
Depreciation & amortisation charges 127 134
Amortisation of acquired intangibles and impairment 84 98
Net interest paid & similar charges (50) (61)
Tax paid (251) (254)
Net cash generation 605 686

1 Being net amount of gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, and investment write downs WPP plc 19
2018 INTERIM RESULTS

Uses of Cash Flow

HALF YEAR TO 30 JUNE 2018 £M 2017 £M
Net cash generation 605 686
Capital expenditure (178) (120)
Net disposals/(acquisitions) 295 (241)
- Disposal proceeds 469 6

- Net initial payments¹ (136) (185)

- Earnout payments/loan note redemptions (38) (62)

Other (27) (15)

Net cash inflow before distributions 695 310

Share buy-backs (201) (290)
Net cash inflow before NWC changes 494 20

1 Net initial payments are net of cash acquired, and includes other investments and associates WPP plc 20
2018 INTERIM RESULTS

Disposal proceeds

2018 £M

Globant 254

Imagina (return of capital from associate) 108

Full Screen 45

Other 62

Half Year to 30 June 469

AppNexus 169

oOh!media 38

Year to Date 676

WPP plc 21
2018 INTERIM RESULTS

Net Debt – 30 June 2018

HALF YEAR TO 30 JUNE 2018 £M 2017 £M VARIANCE £M
YTD average net debt on constant currency basis (4,979) (4,706) (273)
YTD average net debt on reportable basis (4,979) (4,811) (168)
Net debt at 30 June on constant currency basis (4,632) (4,716) 84
Net debt at 30 June on reportable basis (4,632) (4,669) 37
Net debt at 31 July on constant currency basis (5,038) (5,546) 508
Net debt at 31 July on reportable basis (5,038) (5,518) 480

Headline finance costs (86) (89) 3

Interest cover on headline PBIT 9.6x 10.0x -
Headline EBITDA 948 1,016 (68)
Rolling 12 month headline EBITDA 2,466 2,546 (80)
Rolling average net debt/headline EBITDA¹ 2.1x 1.9x -

1 Average net debt/headline EBITDA for 12 months to 30 June WPP plc 22

2018 INTERIM RESULTS

Uses of Free Cash Flow

TARGET H1 2018 H1 2017 FY 2017

Acquisitions (excluding earnouts)¹:

Gross £300-£400m £136m £185m £326m

Less proceeds - £(469m) £(6m) £(296m)

Net (disposals)/acquisitions - £(333m) £179m £30m

Share buy-backs: - £201m £290m £504m

% of issued share capital 2%-3% 1.3% 1.3% 2.5%

Balance Sheet

Average net debt at 2018 exchange rates - £5.0bn £4.7bn £5.1bn²

Headroom: Undrawn facilities & surplus cash - £3.6bn £3.2bn £3.2bn

Revised target range of average net debt/EBITDA ratio lowered to 1.5-1.75x, to achieve over next 12–18 months.
1 Acquisitions are initial payments, net of cash acquired and disposal proceeds, and include other investments and associates
2 FY 2017 average net debt stated at 2017 actual exchange rates WPP plc 23
2018 INTERIM RESULTS

Outlook

 Financial guidance for full year 2018 reflects first half revenue less pass-through costs growth and second
quarter revised forecast:
– Like-for-like revenue and revenue less pass-through costs growth similar to first half.
– Target full year headline PBIT margin similar to first half decline of 0.4 margin points on a like-for-like
basis.

WPP plc 24
2018 INTERIM RESULTS

THE FUTURE

WPP plc 25
2018 INTERIM RESULTS

How We See the World

 Continued growth in demand from clients for marketing and communication services, as clients need to:
– Drive their top-line growth.
– Build and manage direct customer relationships.
– Transform their customer experiences.
– Sell in a multi-channel environment.

 However, we need to recognise the challenges facing our industry:

1. Structural rather than cyclical shifts in the market as clients react to the new environment.
2. WPP and consulting companies starting to compete in the faster-growing segments.
3. Amazon, Facebook, Google et al. competing for talent, client attention and seeking more direct
relationships.

WPP plc 26
2018 INTERIM RESULTS

Path to Growth for WPP

 New vision for WPP: where we will grow and invest.
 Focus on our clients – provide faster, more agile, more effectively integrated solutions.
 Continue to simplify our organisation to better position it for growth:
– easier for clients to access our talent, creativity and capabilities.
– easier for us to manage.
– more efficient and effective through co-locations, shared services, global platforms.
 Embed data and technology much more deeply into our offer – while retaining our creative edge.
 Invest in talent that represents our changing world.
 Evaluate the shape of the overall portfolio to maximise share owner value and release capital.
 Strategy review by year end – including actions that we will be taking to better position the business for growth and to
address under-performing units and detail any restructuring costs that will be necessary as well as the associated
benefits.
WPP plc 27
2018 INTERIM RESULTS

Winning New Business Through Improved Client Focus

WPP plc 28
2018 INTERIM RESULTS

Reshaping and Simplifying our Portfolio

DISPOSALS/REALIGNMENTS ACQUISITIONS
 AppNexus  Gorilla - (Wunderman)
 Dentsu JVs: - Japan, Malaysia, Singapore, Taiwan,  HZ - (Burson Cohn & Wolfe)
Thailand and Vietnam
 FullSix
 Globant
 Grey Belgrade
 Imagina (return of capital from associate)
 Maxx Marketing
 oOh!media
 PXP
 Rediffusion JVs: - India
 Teledirect
WPP plc 29
2018 INTERIM RESULTS

Conclusion

 Business momentum continues to improve slowly: first quarter of like-for-like revenue less pass-
through costs growth in a year.
 Listening to clients and people on how best to evolve our offer and strategy.
 Win rate has improved and we are growing relationships in new clients and areas – but challenges
remain as normal.
 Key priorities remain: creative agencies, data investment management and North America.
 Strategy update by year end.

WPP plc 30
HARD COPY ONLY

Other Financial Information

WPP plc 31
2018 INTERIM RESULTS

Unaudited IFRS Income Statement

HALF YEAR TO 30 JUNE 2018 £M 2017¹ £M Δ REPORTED Δ CONSTANT CURRENCY
Revenue 7,493 7,650 -2.1% 2.9%
Gross profit 1,274 1,368 -6.9% -2.2%
Operating profit pre exceptional & goodwill/intangibles² 783 836 -6.3% -1.6%
Net exceptional gain/(loss) 143 (14) - -
Goodwill/intangible charges (84) (98) 14.1% 13.5%
Operating profit 842 724 16.2% 22.5%
Income from associates 38 46 -18.4% -15.3%
Share of associate exceptionals (29) 14 - -
PBIT 851 784 8.6% 14.5%
Net finance costs (5) (5) -2.1% -
Profit before tax 846 779 8.6% 14.2%
Tax (141) (145) 3.1% -3.1%
Profit after tax 705 634 11.3% 16.8%
Non-controlling interests (33) (38) 12.0% 9.0%
Attributable to share owners 672 596 12.8% 18.4%
Reported diluted EPS 53.4p 46.6p 14.6% 20.3%
1 2017 revenue and revenue less pass-through costs restated by £247m and £14m respectively for the implementation of IFRS 15
2 Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, investment write-downs, share of exceptional gains/losses of
associates, restructuring costs and revaluation of financial instruments
WPP plc 32
2018 INTERIM RESULTS

Net Exceptional Gain

HALF YEAR TO 30 JUNE 2018 £M

Gain on disposals of investments and subsidiaries (Globant £185m) 190

Restructuring costs (46)

Investment write-downs (1)

Net exceptional gain 143

Share of associate exceptionals (29)

Net exceptional gain including associate exceptionals 114

WPP plc 33
2018 INTERIM RESULTS

Unaudited Headline¹ IFRS Income Statement

Δ CONSTANT
HALF YEAR TO 30 JUNE 2018 £M 2017² £M Δ REPORTED CURRENCY Δ LIKE-FOR-LIKE
Revenue 7,493 7,650 -2.1% 2.9% 1.6%
Revenue less pass-through costs 6,149 6,376 -3.6% 1.4% 0.3%
PBIT before associates 783 836 -6.3% -1.6%
Income from associates 38 46 -18.4% -15.3%
PBIT 821 882 -7.0% -2.3%
Net finance costs (86) (89) 3.0% 0.5%
Profit before tax 735 793 -7.4% -2.5%
Tax at 22.5% (2017 - 22.0%) (165) (174) 5.2% 0.1%
Profit after tax 570 619 -8.0% -3.2%
Non-controlling interests (33) (37) 12.0% 9.0%
Attributable to share owners 537 582 -7.8% -2.8%
Diluted EPS 42.6p 45.4p -6.2% -1.3%
PBIT before associates margin³ 12.8% 13.1% -0.4⁴ -0.4⁴ -0.3⁴
PBIT margin⁵ 13.3% 13.8% -0.5⁴ -0.5⁴ -0.4⁴
EBITDA 948 1,016 -6.7% -1.9%
1 Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, investment write-downs, share of
exceptional gains/losses of associates, restructuring costs and revaluation of financial instruments
2 2017 revenue and revenue less pass-through costs restated by £247m and £14m respectively for the implementation of IFRS 15
3 Headline PBIT before associates as a percentage of revenue less pass-through costs margin
WPP plc 34
4 Margin Points
5 Headline PBIT as a percentage of revenue less pass-through costs margin
2018 INTERIM RESULTS

Revenue Less Pass-Through Costs Growth by Country

REVENUE LESS PASS-THROUGH COSTS GROWTH¹ TOP COUNTRIES

More than 10% Argentina, South Korea

Brazil, Mainland China, Colombia, Japan, Mexico, Poland,

5% to 10%
Sweden

Greater China², Denmark, France, Germany, Netherlands,

0% to 5%
India, Italy, Norway, Spain, South Africa, Thailand, Turkey, UK

Australia, Belgium, Canada, Dubai, Indonesia, Russia,

Less than 0%
Singapore, Switzerland, USA

1 Like-for-like growth vs prior year

2 Includes Hong Kong and Taiwan WPP plc 35
2018 INTERIM RESULTS

Revenue Less Pass-Through Costs Growth by Category

REVENUE LESS PASS-THROUGH COSTS GROWTH¹ CATEGORIES

More than 10% Retail

5% to 10% Electronics

0% to 5% Automotive, Media & Entertainment, Travel & Airline

Computers, Drinks, Financial Services, Food, Government, Oil,

Less than 0%
Personal Care & Drugs, Telecommunications

1 Like-for-like growth vs prior year WPP plc 36

2018 INTERIM RESULTS

Effects of Currency
STERLING
HALF YEAR TO 30 JUNE 2018 2017 STRONGER/(WEAKER)
US$ 1.38 1.26 10%
 Currency movements
€ 1.14 1.16 -2% accounted for 5.0%
decrease revenue less
¥ 150 141 6% pass-through costs.
Chinese Renminbi 8.8 8.7 1%  Reflects strengthening
of £ sterling against
Brazilian Real 4.71 4.00 18% most currencies.
Australian $ 1.78 1.67 7%
Canadian $ 1.76 1.68 5%
Indian Rupee 90 83 8%
Singapore $ 1.83 1.77 3%
Russian Rouble 81.8 73.0 12%
South African Rand 16.9 16.6 2%
WPP plc 37
2018 INTERIM RESULTS

Debt Maturity Profile £m at 30 June 2018

£ TOTAL £ TOTAL
CREDIT DRAWN 700
£ bonds £400m (2.875% Sep ’46) 400 400
US bond $500m (5.625% Nov ’43) 379 379
600
US bond $272m (5.125% Sep ’42) 206 206
Eurobonds €600m (1.625% Mar ’30) 531 531
500
Eurobonds €750m (2.25% Sep '26) 664 664
Eurobond €500m (1.375% Mar ‘25)/£444m Swap1 444 444
US bond $750m (3.75% Sep '24) 568 568 400
Eurobonds €750m (3.0% Nov ’23) 664 664
US bond $500m (3.625% Sep ’22)2 379 379
300
Eurobond €250m (3m EURIBOR + 0.45% Mar ’22) 221 221
US bond $812m (4.75% Nov ’21)3 616 616
200
£ bonds £200m (6.375% Nov ’20) 200 200
Eurobonds €250m (3m EURIBOR + 0.32% May ’20) 221 221
Eurobonds €600m (0.75% Nov ’19) 531 531 100

Debt Facilities 6,024 6,024

Bank revolver4 WPP ($2,500m Jul’21) 1,895 376
0
Bank revolver4 WPP AUNZ (A$520m Mar’19) 291 231
Net cash, overdrafts & other adjustments – (1,997)
Total Borrowing Capacity / Net Debt 8,210 4,634
Weighted Average Coupon 3.0%
Exchange Rates £/$ 1.3194 £/€ 1.1299 £/A$ 1.7844 Weighted Average Maturity 8.9 years
1 Swapped to £444m at 2.61% 3 Swapped to 6 month $Libor + 2.34%
2 Swapped to 6 month $Libor + 1.52% 4 These instruments are subject to financial covenants Available Liquidity £3,576m WPP plc 38
2018 INTERIM RESULTS

Acquisition Highlights Since 1 April

Gorilla¹ – USA (Wunderman)
Gorilla Group is an award-winning e-commerce specialist based in USA. Clients include American Hotel
Register Company, Gates Industrial Corporation and protein bar manufacturer RXBAR. The agency
employs about 370 employees and is based in Chicago with offices in USA, Canada, Poland and Ukraine.
Gorilla Group works with enterprise B2B and direct-to-consumer brands across the manufacturing,
distribution, apparel, retail, health & beauty, food and beverage sectors. With a strong history in
strategy, experience design, technology enablement, marketing, and managed services, Gorilla Group
creates high-performing commerce solutions that enable clients to successfully evolve and compete in
the digital economy.
Hirshorn-Zuckerman Design Group (“HZ”)¹ – USA (Burson Cohn & Wolfe)
HZ is a branding, content and design agency based in USA. Clients include Hilton Worldwide, Salesforce
and Tishman Speyer’s Rockefeller Center. The agency employs nearly 200 people and is based in
Rockville, MD, with offices in Baltimore, Los Angeles, New York City and Washington, DC. It was founded
in 1987. Offerings include a full spectrum of multichannel digital design and development, mobile
activation, social media, brand and identity creation, content, film and video production, search
marketing (SEO/SEM), data and analytics as well as and integrated media solutions. Its client base spans
the consumer, hospitality, food and beverage, education, B2B, real estate, sports and entertainment and
technology industries.

1 Q3 acquisition WPP plc 39

2018 INTERIM RESULTS

Acquisition Highlights Since 1 April

Y&R/Wunderman/Sudler & Hennessey¹ - SE Asia

WPP has acquired full ownership of Y&R and Wunderman joint venture agency assets across Southeast Asia and
Taiwan, and Dentsu Sudler & Hennessey in Japan, following a share swap transaction with Dentsu Inc. The transaction
includes Y&R in Malaysia, Singapore, Thailand and Vietnam; Wunderman in Taiwan and Thailand; and Dentsu Sudler &
Hennessey (to be rebranded as Sudler) in Japan.

1 Step-up WPP plc 40

2018 Interim Results

London
4 SEPTEMBER 2018

WPP plc 41