Elsevier Research May 20, 2015 London

FORWARD‐LOOKING STATEMENTS

This presentation contains forward‐looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. These statements are subject to a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those currently being anticipated. The terms “outlook”, “estimate”, “project”, “plan”, “intend”, “expect”, “should be”, “will be”, “believe”, “trends” and similar expressions identify forward‐looking statements. Factors which may cause future outcomes to differ from those foreseen in forward‐looking statements include, but are not limited to, competitive factors in the industries in which Reed Elsevier operates; demand for Reed Elsevier’s products and services; exchange rate fluctuations; general economic and business conditions; legislative, fiscal, tax and regulatory developments and political risks; the availability of third party content and data; breaches of our data security systems and interruptions in our information technology systems; changes in law and legal interpretations affecting Reed Elsevier’s intellectual property rights and other risks referenced from time to time in the filings of Reed Elsevier with the US Securities and Exchange Commission.

1 Ron Mobed CEO, Elsevier

| 4 Agenda

Elsevier and research industry Ron Mobed, CEO Elsevier overview

Delivering value through content Philippe Terheggen, Managing Director Journals growth Louise Curtis, Publishing Director Journals

Adding value through technology

To researchers Olivier Dumon, Managing Director Research Applications & Platform To institutions Gaby Appleton, Director of Strategy Marcel Vonder, Head of SciVal Product Development Closing remarks and Q&A Ron Mobed, CEO Elsevier

2 | 5 Elsevier – Scientific, Technical & Medical: a key part of RELX Group

2014 Revenue: £5,773m 2014 Adjusted operating profit: £1,739m 2014 underlying growth: +3% 2014 underlying growth: +5%

+9% +7%

+3% +2% Exhibitions Exhibitions Scientific, +6% Technical & Legal Scientific, Medical Technical & +1% Legal Medical

Risk & Risk & Business Information Business Information

+6% +6%

| 6 Elsevier: Global leader in science and health information Mission: lead the way in advancing science, technology and health

Content brands Electronic reference Decision tools

• Founded 135 years ago • Revenues: £2.0bn 2014 (74% electronic) • Customers in >180 countries • Serving >20 million scientists, students, health and information professionals • 14,000 FTEs: ~7,000 employees in 25 countries; ~7,000 contractors & outsourced FTEs • Shared technology centre with LexisNexis Legal; High Performance Computing Cluster (HPCC) shared with LexisNexis Risk Solutions

3 | 7 Elsevier business characteristics

2014 Revenue by geography 2014 Revenue by type

Advertising 2% Transactional 30% Rest of World North America 33% 37%

Subscription 68% Europe 30%

| 8 Elsevier revenue breakdown

2014 Revenue: £2,048m

Pharma promotion & other advertising

Print books

Electronic reference Primary Research & solutions

4 | 9 Research is an attractive long term growth market

• Growth in GDP* • Growth in researchers

Global GDP Number of researchers (millions) $ Trillions Global number of researchers: 7.4 million in 2013 80 8

60 6

40 4 Annual growth: 3% (real) Annual growth: +3‐4% 20 2

0 0 2000 2002 2004 2006 2008 2010 2012 2014 2005 2007 2009 2011 2013

• Growth in R&D spend • Growth in research published

Spending on R&D –OECD countries Number of research articles published (millions) Indexed values; 100 = Spend in 2000 Number of research articles: 2.5 million in 2014

150 3 2.5 100 2 1.5 50 Annual growth: 3% (real) 1 Annual growth: +4% 0.5 0 0 2000 2002 2004 2006 2008 2010 2012 2014 2005 2007 2009 2011 2013

* GDP 2014 forecast / PPP 2005 base year Source: World Bank for Global GDP; OECD for R&D expenditure, UNESCO, SciVal 9 9

| 10 Research customer dynamics

Spend • Total information spend is ~1% of total institutional research spend

Challenges • Complexity: Multi‐disciplinarity; data expansion • Competition: institution‐to‐institution; international • Better demonstrate link between research and economic growth

5 | 11 Elsevier is engaged with the scientific community around the world

Govern‐ ~200 ment

Funding ~400 bodies

University and research ~2,700 institution management

~10,000 Information officers and librarians

Researchers ~7 –10 million

| 12 Elsevier is engaged across the research workflow

“Enabling Research” “Doing Research” “Sharing Research”

Develop Recruit/evaluate Secure Establish Manage Search, discover, Collaborate & Synthesize/ Manage Publish and Commer Have Strategy researchers Funding partnerships facilities read, review network Experiment Analyze Data disseminate ‐cialize Promote impact

? ! $

6 | 13 Three key takeaways

1. Research is a long term global growth market

2. Elsevier is adding value through growing content, volumes and quality

3. Elsevier adds further value by deploying best available technology to deepen researcher engagement

| 14

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7 Philippe Terheggen Managing Director Journals, Elsevier

| 16 Elsevier engaged across the research workflow

“Enabling Research” “Doing Research” “Sharing Research”

? ! $

Why publish research? • “Standing on the shoulders of giants” –global visibility • Develop career • Provide information that is used at all points of the workflow

8 | 17 Elsevier deeply embedded in the research community

Extensive external network Managed by Elsevier professionals

• 1.8 million authors 600 Elsevier publishing professionals ─ 1.1 million article submissions per year

2,436 journals • 17,000 editors ─ 72,000 editorial board members 380,000 articles per year

• 700,000 reviewers 16% article share ─ 1.8 million reviews a year

| 18 Consistent article volume growth

Elsevier Published Articles (‘000)

380 +5% CAGR 365 336 321 284 295 297 267 258

2006 2007 2008 2009 2010 2011 2012 2013 2014 Subscription Author pays

9 | 19 Elsevier best positioned in high and medium quality

2013 Publisher article share: 28% Higher FWCI* >2 quality Total market

16%

26% 12% FWCI 0.5‐2 62% 6% 4%

Elsevier Lower Springer Nature FWCI <0.5 Wiley‐Blackwell quality Taylor & Francis Other

*Field Weighted Citation Impact Source: Scopus

| 20 Article distribution by quality tier

Article distribution by quality tier Elsevier article share by quality tier

Elsevier Market 18% 100% 100% 100% High 28% 11% 15% 11% High (FWCI* > 2)

Medium 26% 26% 58% Medium 77% (FWCI* = 0.5‐2) 76%

5% 5% Low Low 30% (FWCI* < 0.5) 11% 8% 2009 2013 2013 2009 2013

*Field Weighted Citation Impact Source: Scopus

10 | 21 Growth initiatives

1. Grow subscription titles and volume in medium and high quality tiers

2. Expand premium brands

3. Grow author pays articles

| 22 Grow subscription titles

• 2,292 subscription journals Current Opinions in Biotechnology Nano Energy Expert views on current advances Multidisciplinary journal publishing • 55 new launches since start 2014 in biotechnology & evaluations of key developments in the most interesting papers in the nanomaterials and nanodevices • ~4‐5% growth in subscription field articles published per annum

Targeted at high and medium quality

International Journal of Cardiology Financial Economics Broad cardiology journal with High‐quality professional outlet research & clinical papers serving for scholarly studies of actual clinicians and research workers cases, events or practice in financial economics

11 | 23 Expanding premium brands

The Lancet World’s leading independent • 23 Lancet titles general medical journal consisting of a weekly journal, The Lancet, plus • 13 Cell titles 9 monthly specialty journals • 3 new launches since start 2014 Targeted at high quality

Cell 13 high impact titles that form the foundation of contemporary life science research

| 24 Grow author pays articles

• >1,600 subscription journals with EBioMedicine Cell Reports sponsored article option Publishing articles across Life Open access journal from • 144 author pays only open access and Health Sciences with Cell Press publishing high‐ cascading from Cell and The quality papers across the journals Lancet entire life sciences • 60 new launches since start of 2014 • Elsevier growing rapidly from small base Targeted at medium quality Heliyon NeuroImage Multidisciplinary author pays Subscription journal on brain mega journal with cascading imaging which allows from a wide selection of authors to publish sponsored Elsevier titles articles

12 Louise Curtis Publishing Director, Elsevier Managing the journal portfolio

| 26 Launching a new journal in a new area of research

Case Study: Nano Energy launch

Developed by leveraging:

Publisher expertise +

Community intelligence + Sophisticated data analysis

13 | 27 Nano Energy journal timeline

December: Materials for Energy November: Official December: July: impressive first impact factor applications highlighted as the launch at Materials 293 submissions in of 10.2 and Impact Factor rank of single most impactful topic in Research Society Fall first full year of 10 out of 135 Material Sciences at the Materials Meeting operation Research Society Fall Meeting 130 articles accepted for publication 2014 FWCI = 2.65

2010 2011 2012 2013 2014

Q1 2011: Data analysis to March: appointment June: Launch of Beijing December: First International assess gap in portfolio, of Dr Zhong Lin Wang Institute of Nano Energy & Conference on Nano Energy market opportunities, as Editor in Chief Nano Systems (BINN), CAS & Nano Systems (NENS2014) identify top authors and hot with over 600 participants topics

2013 metrics 2014 metrics Submissions 323 Submissions 943 Accepted articles 130 Accepted articles 340 Usage 204K Usage 411K Citations (Scopus) 949 Citations (Scopus) 2694

| 28 Data analysis for Nano Energy

energy storage

solar cells

physics

Heat map: provides an overview of research Colour = citation impact topics published by Nano Energy and related Circles = terms journals, and their citation impact Size = number of papers

14 | 29 Attracting top authors to Nano Energy

Top author profile: Dr. Zhifeng Ren

• M.D. Anderson Chair Professor of Physics and principal investigator at the Texas Center for Superconductivity at the Univ. of Houston

• Fellow of the National Academy of Inventors

• h‐index: 69, lifetime publications = 336

• Published 12 papers in Nano Energy journal since its launch

• 203 citations to Nano Energy papers to date

• From 160 institutes in 31 countries “The time from submission to publishing plus the reputation of Nano Energy are the most important factors in choosing the journal”

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15 Olivier Dumon Managing Director Research Applications & Platform, Elsevier

| 32 Elsevier helps researchers achieve higher quality research outcomes faster

“Enabling Research” “Doing Research” “Sharing Research”

? ! $

Deploying best available technology to deepen researcher engagement

16 | 33 Elsevier helps researchers achieve higher quality research outcomes faster

“Enabling Research” “Doing Research” “Sharing Research”

? ! $

Data platform and signals: Content, Citation Graph, User Behaviour, User Profiles, Social Network

1 What do I need to know? 2 Productivity tools 3 How can I manage my • Discover what others do not • Store, manage and career? • Stay on top of my field publish data and receive • Showcase my work • Evaluate, read articles and credits methods

| 34 Elsevier helps researchers achieve higher quality research outcomes faster

“Enabling Research” “Doing Research” “Sharing Research”

? ! $

Data platform and signals: Content, Citation Graph, User Behaviour, User Profiles, Social Network

1 What do I need to know? 2 Productivity tools 3 How can I manage my career?

17 | 35 Elsevier technology

Elsevier Research Platforms Elsevier technology organisation

• ScienceDirect • Over 1,000 technologists in Elsevier ─ Over 13m documents ─ Over 10m monthly unique visitors • Research development hubs in London and Dayton ─ More than 750m downloads, growing at 10% per year ‐> 25 • Expertise in front‐end development, downloads a second scalable big data solutions, content enrichment • Scopus ─ Over 50m items • Big data analytics platform HPCC, shared with LN‐Risk ─ Over 20,000 titles from 5,000 publishers worldwide

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18 Gaby Appleton Director of Strategy, Elsevier

| 38 We support those who enable research: governments, institutes and funders

“Enabling Research” “Doing Research” “Sharing Research”

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How can my institution best compete? 1• Assess strengths, benchmark 2• Find collaborators

19 | 39 Elsevier actively engages with senior policymakers, funders and university leaders

Elsevier global reach: Key Questions: Govern‐ ment ~200 • How can I measure excellence?

Funding • What is the impact of research ~400 bodies we fund?

• How are we doing relative to University and research ~2,700 peers? institution management • With whom should I collaborate?

Information officers and librarians ~10,000

Researchers ~7‐10 million

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20 Marcel Vonder Head of SciVal Product Development, Elsevier

| 42 SciVal demo

21 Ron Mobed CEO, Elsevier

| 44 Three key takeaways

1. Research is a long term global growth market

2. Elsevier is adding value through growing content, volumes and quality

3. Elsevier adds further value by deploying best available technology to deepen researcher engagement

22 | 45

Q&A