Relx Plc (Rel:Ln)

RELX PLC (REL:LN)

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 Business Description and Key Statistics

RELX is a provider of information-based analytics and decision Current YTY % Chg tools for personnel and business customers. Co. operates in four market segments: Scientific, Technical and Medical, which provides Revenue LFY (M) 7,110 -9.7 information and analytics that help institutions and personnel EPS Diluted LFY 0.63 -17.8 progress science; Risk and Business Analytics, which provides customers with information-based analytics and decision tools that Market Value (M) 42,276 combine public and industry-specific content with technology and algorithms; Legal, which provides legal, regulatory and business Shares Outstanding LFY (000) 1,926,019 information and analytics; and Exhibitions, which is the events Book Value Per Share 1.09 business that combines face-to-face with data and digital tools to help customers learn about markets. EBITDA Margin % 35.20 Net Margin % 17.4 Website: www.relx.com Long-Term Debt / Capital % 74.4 ICB Industry: Consumer Discretionary Dividends and Yield TTM 0.47 - 2.14% ICB Subsector: Publishing Payout Ratio TTM % 72.3 Address: 1-3 Strand London 60-Day Average Volume (000) 2,853 GBR 52-Week High & Low 2,226.00 - 1,527.50 Employees: 33,200 Price / 52-Week High & Low 0.99 - 1.44

Price, Moving Averages & Volume

2,260.9 2,260.9 RELX PLC is currently trading at 2,195.00 which is 2.0% above its 50 day moving 2,164.9 2,164.9 average price of 2,151.02 and 13.9% above its 200 day 2,068.8 2,068.8 moving average price of 1,927.55.

1,972.8 1,972.8 REL:LN is currently 1.4% below its 52-week high price of 2,226.00 and is 43.7% above 1,876.8 1,876.8 its 52-week low price of 1,527.50. Over the past 52- 1,780.7 1,780.7 weeks, REL:LN is up 29.4% while on a calendar year-to- date basis it is up 22.5%. 1,684.7 1,684.7 The Relative Strength Index (RSI) indicator for REL:LN is 1,588.6 1,588.6 currently 53.7. An RSI value of 70 and above is considered 1,492.6 1,492.6 overbought and 30 and below 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21 oversold. Volume (000) 8,864 8,864

6,700 6,700

4,536 4,536 Mean (3188.76) 2,371 2,371

207 207 10/20 11/20 12/20 1/21 2/21 3/21 4/21 5/21 6/21 7/21 8/21 9/21

Price Price (50-Day Simple Moving Average) Price (200-Day Simple Moving Average)

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % -0.90 -0.42 50-Day Average Price 2151.02 1-Week % -0.05 -0.31 Price / 50-Day Average 1.02 4-Week % 0.87 2.29 200-Day Average Price 1927.55 52-Week % 29.38 5.03 Price / 200-Day Average 1.14 RSI - Relative Strength Index 53.70 Quarter-to-Date % 14.38 13.25

Year-to-Date % 22.45 12.23 Risk Metrics Last Month % 3.22 1.30 Price Volatility 14.99 Last Quarter % 5.50 0.83 Sharpe Ratio 0.14 Last Calendar Year % -5.93 7.06 Sortino Ratio 0.23

5-Year Price Performance vs. FTSE 350

RELX PLC Current: 1.50 CAGR: 8.5% Over the past five years, RELX FTSE 350 Index Current: 1.18 CAGR: 3.4% PLC's stock price is up 50.0% which is 31.6% above the 1.5 1.5 FTSE 350 Index performance of 18.4% over the same REL:LN period. RELX PLC's 1.5 1.5 cumulative annualized growth rate (CAGR) over the five year 1.4 1.4 period has been 8.5% while that of the FTSE 350 Index has been 3.4%. 1.4 1.4 Over the past year, RELX PLC's stock price performance 1.3 1.3 of 29.4% has outperformed that of the FTSE 350 Index by 1.2 1.2 5.0%. On a year-to-date basis, RELX PLC's stock price ^NMX:LN performance of 22.5% has 1.2 1.2 outperformed the FTSE 350 Index by 12.2%. 1.1 1.1 Over the past week, RELX PLC's stock price performance 1.0 1.0 of 0.0% has underperformed that of the FTSE 350 Index by 0.3%. 1.0 1.0

0.9 0.9

0.8 0.8 2017 2018 2019 2020 2021 2022

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % 13.2 17.7 Gross Margin % 65.0 Revenues Per Share % -1.9 11.3 EBITDA Margin % 35.2 EBITDA % 29.3 999.9 999.9 Pre-Tax Margin % 20.6 EPS Diluted % 10.6 12.3 7.3 Net Margin % 17.4 Free Cash Flow % 10.2 Return on Equity % 56.8 Cash from Operations % 543.1 999.9 999.9 Return on Capital % 18.2 Book Value % -28.6 -17.0 2.6 Return on Assets % 8.9

Revenue (M) RELX PLC's cumulative annualized revenue growth Current: 7110.00 Median: 7492.00 High: 7874.00 Low: 7110.00 CAGR: -2.6% rate over the charted period is 8,026.8 8,026.8 7,874.0 -2.6%. This compares to cumulatative annualized 7,708.5 7,708.5 growth of 13.2% over the past 7,492.0 3 years. 7,390.1 7,390.1 7,110.0 7,071.8 7,071.8 2016 2017 2018 2019 2020 2021 RELX PLC's cumulative EPS Diluted annualized EPS growth rate Current: 0.63 Median: 0.71 High: 0.77 Low: 0.63 CAGR: -5.8% over the charted period is 0.80 0.80 -5.8%. This compares to 0.77 cumulatative annualized 0.74 0.74 growth of 10.6% over the past 0.71 3 years. 0.68 0.68 0.63 0.62 0.62 2016 2017 2018 2019 2020 2021

Net Profit Margin % RELX PLC's net profit margin of 17.4% is 0.3% above the Current: 17.35 Median: 17.85 High: 19.36 Low: 12.28 CAGR: 18.8% period's mean net margin of 19.7 19.7 17.1%. During the charted Mean (17.09) period, the observed net profit 17.1 17.1 margin high and low were 19.4% and 12.3% respectively. 14.5 14.5

11.9 11.9 2016 2017 2018 2019 2020 2021 RELX PLC's return on equity Return on Equity % of 56.8% is 1.2% below the Current: 56.80 Median: 59.40 High: 69.90 Low: 35.10 CAGR: 27.2% period's mean return on equity 71.6 71.6 of 58.0%. During the charted period, the observed ROE 58.9 Mean (58.02) 58.9 high and low were 69.9% and 35.1% respectively. 46.1 46.1

33.4 33.4 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 Valuation Metrics

5-Year 10-Year 5-Year 10-Year Current Median Median Current Median Median

Price / EPS TTM 34.7 30.7 25.9 Earnings Yield % 3.44

Price / Sales 6.0 4.1 3.2 Free Cash Flow Yield % 3.63 4.41 5.58

Price / Operating Cash Flow 20.6 18.7 18.0 Dividend Yield % 2.14 2.33 2.40

Price / Book Value 20.1 15.0 7.9 Enterprise Value / EBITDA 19.6 16.8 14.8

Price / EPS TTM RELX PLC is trading at 34.73 times its EPS generated Current: 34.73 Median: 30.70 High: 41.51 Low: 19.56 CAGR: 0.2% during the latest fiscal year. 42.6 42.6 This multiple is above the historically observed median 34.6 34.6 of 30.70, while high and low Median (30.70) observations have been 41.51 and 19.56. 26.5 26.5

18.5 18.5 2016 2017 2018 2019 2020 2021 Price / Sales RELX PLC is trading at a Price to Sales ratio of 6.02 based on Current: 6.02 Median: 4.14 High: 6.03 Low: 2.77 CAGR: 11.0% sales generated during the 6.19 6.19 latest fiscal year. This ratio is above the historically observed 5.00 5.00 median ratio of 4.14, while high and low observations Median (4.14) have been 6.03 and 2.77. 3.80 3.80

2.61 2.61 2016 2017 2018 2019 2020 2021 RELX PLC is trading at a Price Price / Book Value to Book ratio of 20.14 based Current: 20.14 Median: 15.00 High: 20.15 Low: 4.80 CAGR: 19.3% on book value at the latest 20.9 20.9 fiscal year end. This ratio is above the historically observed median of 15.00, while high 15.3 Median (15.00) 15.3 and low observations have been 20.15 and 4.80. 9.7 9.7

4.0 4.0 2016 2017 2018 2019 2020 2021 RELX PLC has a Free Cash Free Cash Flow Yield % Flow Yield of 3.63% based on Current: 3.63 Median: 4.41 High: 8.79 Low: 3.62 CAGR: -3.9% free cash flow generated 9.0 9.0 during the latest fiscal year. This value is below the historically observed median 7.2 7.2 yield of 4.41%, while high and low observations have been 5.3 5.3 8.79 and 3.62. Median (4.41)

3.4 3.4 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 Dividends Data

Dividends Per Share TTM 0.47 Payout Ratio TTM % 72.31% Dividend Yield TTM % 2.14%

Rate Ex Date Record Date Payment Date Currency Note 0.334 29-04-2021 30-04-2021 03-06-2021 GBP FINAL GROSS 0.136 30-07-2020 31-07-2020 02-09-2020 GBP INTERIM GROSS 0.321 24-04-2020 27-04-2020 28-05-2020 GBP FINAL GROSS 0.136 01-08-2019 02-08-2019 02-09-2019 GBP INTERIM GROSS 0.297 02-05-2019 03-05-2019 04-06-2019 GBP FINAL GROSS 0.124 02-08-2018 03-08-2018 24-08-2018 GBP INTERIM GROSS 0.277 26-04-2018 27-04-2018 22-05-2018 GBP FINAL GROSS 0.117 03-08-2017 04-08-2017 25-08-2017 GBP INTERIM GROSS 0.257 27-04-2017 28-04-2017 22-05-2017 GBP FINAL GROSS 0.103 04-08-2016 05-08-2016 26-08-2016 GBP INTERIM GROSS 0.223 28-04-2016 29-04-2016 20-05-2016 GBP FINAL GROSS

Dividend Growth and Yield

Dividends Per Share TTM RELX PLC's trailing 12-month dividend per share is 0.47 and Current: 0.47 Median: 0.40 High: 0.47 Low: 0.33 CAGR: 7.7% its dividend has grown at a 0.48 0.48 cumulative annualized rate of 7.7% over the charted period. 0.45 0.45 This compares to dividend growth of 2.80% over the past 0.43 0.43 year and cumulative annualized growth of 6.10% over the past 3 years. 0.40 0.40

0.37 0.37

0.35 0.35

0.32 0.32 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % RELX PLC's current dividend yield is 2.14% based on Current: 2.14 Median: 2.33 High: 2.99 Low: 1.90 CAGR: 1.1% trailing 12 month dividends. 3.04 3.04 The current yield is below the historically observed median 2.84 2.84 of 2.33% and, over the charted time period, the observed high 2.64 2.64 yield has been 2.99% and the observed low yield has been 1.90%. 2.45 2.45

2.25 2.25

2.05 2.05

1.85 1.85 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % 0.0 42.2 84.3 126.5 168.7 -83.1 -59.5 -36.0 -12.5 11.1

Reach PLC 160.8 Pearson Plc 6.8

Time Out Group PLC 64.8 GlobalData PLC 5.8

Daily Mail & General Trust PLC 48.5 Reach PLC 5.3

Peer Group Average 46.4 Bloomsbury Publishing Plc 1.4

Wilmington Group Plc 43.6 RELX PLC -5.9

RELX PLC 22.5 Daily Mail & General Trust PLC -10.1

Bloomsbury Publishing Plc 19.4 Peer Group Average -12.9

GlobalData PLC 8.1 Wilmington Group Plc -35.7

Pearson Plc 3.5 Time Out Group PLC -71.0

0.0 42.2 84.3 126.5 168.7 -83.1 -59.5 -36.0 -12.5 11.1

Price / EPS TTM Price / Book Value 0.0 26.1 52.2 78.3 104.4 0.0 5.3 10.5 15.8 21.1

Merit Group plc 99.9 RELX PLC 20.1 Time Out Group PLC 99.9 GlobalData PLC 12.7 Reach PLC 99.9 Merit Group plc 9.0 Il Sole 24 Ore SpA 99.9 Peer Group Average 5.3 GlobalData PLC 81.5 Wilmington Group Plc 4.6 Peer Group Average 56.5 Rizzoli Corriere della Sera MediaGroup… 2.3 Wilmington Group Plc 43.5 Daily Mail & General Trust PLC 2.2 RELX PLC 34.7 Reach PLC 2.1 Bloomsbury Publishing Plc 21.0 Bloomsbury Publishing Plc 1.7 Pearson Plc 17.2 Pearson Plc 1.3 Daily Mail & General Trust PLC 13.6 Time Out Group PLC 1.1 Rizzoli Corriere della Sera MediaGroup… 10.5 Il Sole 24 Ore SpA 1.0 0.0 26.1 52.2 78.3 104.4 0.0 5.3 10.5 15.8 21.1

EPS 5-Year Growth Rate % Revenue 5-Year Growth Rate % -270.5 62.2 395.0 727.7 1,060.4 -13.2 -3.4 6.4 16.2 26.0

GlobalData PLC 999.9 GlobalData PLC 24.2

Rizzoli Corriere della Sera MediaGroup… 999.9 Merit Group plc 8.7 Peer Group Average 218.7 Bloomsbury Publishing Plc 8.4 Merit Group plc 70.5 Wilmington Group Plc 3.5 RELX PLC 12.3 Peer Group Average 3.2 Daily Mail & General Trust PLC 6.6 Reach PLC 0.3 Bloomsbury Publishing Plc 5.3 Pearson Plc -5.3 Wilmington Group Plc -9.8

Pearson Plc -16.5 Rizzoli Corriere della Sera MediaGroup… -6.3

Reach PLC -100.0 Daily Mail & General Trust PLC -8.2

-270.5 62.2 395.0 727.7 1,060.4 -13.2 -3.4 6.4 16.2 26.0

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021 Abbreviations: CAGR - Cumulative annual growth rate. EBIT - Earnings before interest and taxes. EBITDA - Earnings before interest, taxes, depreciation & amortization. LFY - Last fiscal year M - Million LON - London Stock Exchange

Definitions: Market Value - Weekly Price times latest Shares Outstanding times any applicable ADR factor. Revenue - Sum of the last four quarters of Revenues. Revenue Per Share - Sum of the last four quarters of Total Revenue divided by Weighted Average Shares Outstanding. Operating EPS LFY - EPS excluding non-recurring, non-operating items, fiscal year aligned TTM value. 60-Day Average Volume (000) - The average of the last 60 daily volume values in thousands of shares. Price 52-Week High - The high closing price from the last 52 weeks of daily closing prices. Price 52-Week Low - The low closing price from the last 52 weeks of daily closing prices. Price / 52-Week High - Latest price divided by the high price from the past 52 weeks of daily closing prices. Price / 52-Week Low - Latest price divided by the low price from the past 52 weeks of daily closing prices. 50-Day Average Price - Mean of last 50 daily closing prices. 200-Day Average Price - Mean of last 200 daily closing prices. Price / 50-Day Average Price - Latest closing price divided by mean of last 50 daily closing prices, as a percentage. Price / 200-Day Average Price - Latest closing price divided by mean of last 200 daily closing prices, as a percentage. Relative Strength Index - Relative Strength Index or RSI measures the magnitude of gains over a given time period against the magnitude of losses over that period. The equation is RSI = 100 - 100 / (1 + RS) where RS = (total gains / n) / (total losses / n) and n = number of RSI periods. In this item, 14 days is used and one year of daily prices are considered. A value of 30 or below may imply oversold and 70 or above may imply overbought. Price Volatility - The standard deviation of the last 20 days of daily closing prices. Sharpe Ratio - The 5 year average of the excess monthly return over the risk - free rate(1 - month T - bill) over the 5 year standard deviation of the same series. Sortino Ratio - The same calculation as the Sharpe Ratio but with positive excess returns set to zero for the standard deviation denominator, so only negative volatility weighs in. Dividends Per Share TTM - Sum of the last four quarters of Dividends Per Share. Payout Ratio - Dividends Per Share TTM divided by Operating EPS TTM. Dividend Yield TTM % - Sum of the last four quarter of Dividends Per Share divided by Weekly Price. EBITDA - Sum of the last four quarters of EBITDA (Operating Income + Depreciation & Amortization). Free Cash Flow - Sum of the last four quarters Net Cash from Operations minus Capital Expenditures (Purchase of Property, Plant & Equipment), from the Cash Flow Statement. Book Value Per Share - Total Common Equity last quarter divided by Shares Outstanding last quarter. Gross Margin % - Sum of the last four quarters Gross Profit divided by the sum of the last four quarters Revenues. EBITDA Margin % - Sum of the last four quarters EBITDA divided by the sum of the last four quarters Revenues. Pre-Tax Margin % - Sum of the last four quarters of Earnings Before Taxes divided by sum of the last four quarters Revenues. Net Profit Margin % - Sum of the last four quarters of Operating EPS divided by sum of the last four quarters Revenues Per Share. Return on Equity % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Book Value. Return on Capital % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Capital Per Share. Return on Assets % - Sum of the last four quarters of Operating EPS divided by the average of the last four quarters Total Assets Per Share. Price / EPS TTM - Weekly Price divided by the sum of the last four quarters of Operating EPS (capped at 99.9). Price / Sales - Weekly Price divided by Revenues Per Share TTM. Price / Book Value - Weekly Price divided by Book Value Per Share last quarter. Book Value Per Share is Total Common Equity last quarter divided by Shares Outstanding last quarter (capped at 49.9). Free Cash Flow Yield % - Free Cash Flow Per Share TTM divided by Weekly Price. Enterprise Value - Market Value plus Total Debt last year plus Preferred Equity last year minus Cash & Cash Equivalents last year. Enterprise Value / Sales - Enterprise Value divided by the sum of the last four quarters of Revenue. Enterprise Value / EBITDA - Enterprise Value divided by EBITDA TTM. Enterprise Value / EBIT - Enterprise Value divided by trailing four quarters of Operating Income. Enterprise Value / Free Cash Flow- Enterprise Value divided by the sum of the last four quarters of Free Cash Flow. Russell 1000 Index - The largest 1,000 stocks by market cap, the index comprehensively covers the US large cap universe. EPS 5-Year Growth Rate % is capped at 999.9%. Revenue 5-Year Growth Rate % is capped at 999.9%.

Consumer Discretionary/Publishing Price: 2,195.00 GBX Report Date: September 24, 2021

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