27 May 2021 Daily Mail and General Trust plc (‘DMGT’) Half Yearly Financial Report for the six months ended 31 March 2021 Performance as expected given market conditions; realisation of value through portfolio activity • Group operating performance reflects B2B Information Services growth offset by B2B Events & Exhibitions and Consumer Media: o Revenue down 12% underlying o Cash operating income² down 13% underlying; 11% margin o Adjusted³ operating profit down 19% underlying; 9% margin o Adjusted profit before tax down 20% underlying o Adjusted EPS up 12% • Interim dividend increased +1% to 7.6p • Statutory4: revenue £547m; profit before tax £42m, down 45%; EPS 111.3p, up 24% • Active portfolio management strategy delivering value creation: o Increased investment in Cazoo in October 2020; proposed transaction values stake at c.US$1.35bn5 vs £117m total investment o Disposal of EdTech (Hobsons) for c.US$410m in March 2021 o Acquisition of New Scientist for £67m in March 2021 • Strong financial position maintained: pro forma net cash £293m6 and £362m of committed undrawn bank facilities; statutory net cash £199m • Outlook: o B2B Information Services: positioned for continued growth o Events & Exhibitions: physical events scheduled for H2 but risk of further postponements or cancellations o Consumer Media: advertising depends on business confidence and remains unpredictable Adjusted Results3 Statutory Results4 (from continuing and discontinued operations) Half Year Half Year Change~ Half Year Half Year 2021 2020 Reported Underlying¹ 2021 2020 Revenue £580m £690m -16% -12% £547m £642m Cash operating income £66m £75m -11% -13% Operating profit £55m £65m -17% -19% £44m £35m Profit before tax £47m £56m -17% -20% £42m £77m Earnings per share 16.8p 15.0p +12% 111.3p 89.7p Dividend per share 7.6p 7.5p Page 1 Paul Zwillenberg, CEO, commented: “We created significant value for our shareholders during the first half, through active management of the portfolio and continued strong operational execution. We achieved an attractive price of c.US$410m for the disposal of Hobsons, our EdTech business. This equated to over 50x operating profit, clearly demonstrating the rewards of our approach to organic investment in our businesses and our focus on improved operational performance. Our financial flexibility enabled us to continue to invest in Cazoo through multiple funding rounds. Despite the near-term economic uncertainty, we had conviction in its opportunity to transform the used car market. Cazoo continues to go from strength to strength and its proposed SPAC combination on the New York Stock Exchange would value our stake at US$1.35bn, a return of eight times on our capital. I am also delighted to welcome New Scientist to our market-leading Consumer Media division. It is a high-quality, subscriptions-led business with great people and will further improve the quality of our revenues. From a financial and operational perspective, DMGT delivered a solid performance in the first half of the year. We achieved strong underlying growth in revenue and profits from our B2B Information Services businesses, where Property Information was a highlight. Within Consumer Media, there was good revenue and profit growth from MailOnline and a solid performance from the Mail print titles driving profit growth for the Mail businesses whilst, unsurprisingly, Metro and our Events business continued to be impacted by the pandemic. Five years into my tenure as CEO, I am incredibly proud of the hard work, creativity and commitment everyone at DMGT has demonstrated and what has been achieved as a result. I am excited and confident about our future as we continue to invest in our market-leading businesses and remain well placed to consider acquisitions to drive growth and create long-term value for shareholders.” Page 2 Half Year 2021 Financial Results Summary Segmental performance: Adjusted3 results Statutory4 results (from continuing and discontinued operations) Half Half Change~ Half Half Year Year Reported Underlying¹ Year Year 2021 2020 2021 2020 £m £m £m £m Revenue: B2B: Information Services 266 268 -1% +9% 232 219 B2B: Events & Exhibitions 4 77 -95% -92% 4 77 Consumer Media 311 345 -10% -13% 311 345 DMGT Group 580 690 -16% -12% 547 642 Cash operating income²: B2B: Information Services 47 40 +17% +36% B2B: Events & Exhibitions - 5 -107% N/A* Consumer Media 39 48 -19% -21% Corporate costs (20) (18) +10% +12% DMGT Group 66 75 -11% -13% Operating profit: B2B: Information Services 41 35 +19% +40% 37 28 B2B: Events & Exhibitions (1) 5 -110% N/A* (2) (1) Consumer Media 34 44 -23% -25% 32 39 Corporate costs (20) (18) +9% +10% (22) (21) DMGT Groupµ 55 65 -17% -19% 45 45 Amounts are stated rounded to the nearest million pounds, consequently totals may not equal the sum of the component integers. * Events & Exhibitions’ cash OI and adjusted operating profit both reduced by an underlying £9m. µ The DMGT Group statutory operating profit shown above excludes the share of operating profits from joint ventures and associates. • Adjusted revenue of £580m; underlying decrease –12%: B2B Information Services growth, driven by Property Information, was more than offset by decreases in Events & Exhibitions and Consumer Media. • Cash operating income (Cash OI)2 £66m; underlying decrease –13%: reduction due to the impact of Covid-19 on Events & Exhibitions and Consumer Media’s Metro newspaper more than offsetting growth from B2B Information Services. Includes £10m of insurance benefit in respect of cancelled or postponed events. • Adjusted operating profit £55m; underlying decrease –19%: reflecting the same operating dynamics as Cash OI. • Statutory operating profit £44m: compared to £35m in the prior year. • Losses from JVs and associates £1m: compared to a loss of £7m in the prior year. • Adjusted profit before tax (PBT) £47m: down an underlying –20%, including £4m increase in net finance costs due to impact of lower interest rates on interest income. Statutory PBT £42m (H1 2020 £77m). • Tax: adjusted tax charge £8m (H1 2020 £22m); with the adjusted tax rate reducing to 18%. The statutory tax credit was £36m and there was also a statutory tax charge of £58m on discontinued operations, giving a total net tax charge of £22m. Page 3 • Earnings per share: adjusted EPS up +12% to 16.8p (H1 2020 15.0p). Statutory EPS was 111.3p (H1 2020 89.7p) including the profit on disposal of the EdTech business. • Pro forma net cash6 was £293m as at 31 March 2021, adjusted to exclude £95m of lease liabilities recognised following the adoption of IFRS 16. The net cash:EBITDA ratio was 2.6 on this basis. The statutory net cash as at 31 March 2021 was £199m. • Portfolio activity: there were several transactions in the period. The disposal of Hobsons, the EdTech business, in March 2021 realised c.US$410m of proceeds. New Scientist, one of the world’s leading science publishing titles, was acquired for £67m in March 2021, adding a growing subscription-based business to the Consumer Media portfolio. In October 2020, three printing plants were acquired for £10m and DMGT invested a further £34m in Cazoo, bringing the total investment to £117m. In March 2021, Cazoo announced its intention of combining with AJAX I, the US-listed SPAC, valuing DMGT’s stake at c.US$1.35bn5. • Outlook: the financial performance during the second half of the financial year is expected to reflect varying levels of impact on our businesses from the Covid-19 pandemic. o B2B Information Services: Insurance Risk and the Property Information businesses are expected to deliver underlying revenue growth. o Events & Exhibitions: despite the planned occurrence of two major physical events in September 2021, trading conditions are likely to remain very challenging. o Consumer Media: advertising is difficult to predict as usual, with circulation revenues expected to be resilient, helped by the Daily Mail cover price increase. o Organic investment will continue through the cycle and will subdue margins, notably for Property Information as we build our businesses for the long-term. Enquiries Investors: Tim Collier, Group CFO +44 20 3615 2902 Adam Webster, Head of Investor Relations +44 20 3615 2903 Media: Doug Campbell, Teneo +44 7753 136628 Tim Burt, Teneo +44 7583 413254 Half Year Results presentation and Q&A conference call A virtual presentation of the Half Year Results will be given at 9.30am on 27 May 2021 and will be followed by a question and answer session for City analysts and investors. The presentation will be available on our website at www.dmgt.com/webcasthy21 and the dial-in number for questions is +44 (0)330 336 9434, confirmation code 7516756. Next trading update The Group’s next scheduled announcement of financial information will be its nine month trading update on 22 July 2021. Page 4 About DMGT DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. The Group takes a long-term approach to investment and has market-leading positions in consumer media, insurance risk, property information and events & exhibitions. In total, DMGT generates revenues of around £1.2bn. Notes 1 Underlying growth rates are on a like-for-like basis, see pages 28 to 30. Underlying revenues, cash operating income2 and operating profits are adjusted for constant exchange rates, the exclusion of disposals and closures, the inclusion of the year- on-year organic growth from acquisitions and for the consistent timing of revenue recognition. For Consumer Media, underlying revenues exclude low margin newsprint resale activities. For events, the comparisons are between events scheduled to be held in the six-month period and the same events held, or that were scheduled to be held, the previous time. Consequently, underlying growth rates include all costs for events that were originally scheduled in the six months to March 2021 and that were cancelled or postponed.