Daily Mail & General Trust PLC (DMGT:LN)

Consumer Discretionary/Publishing Price: 1,068.00 GBX Report Date: September 28, 2021 Business Description and Key Statistics

Daily Mail & Generals Trust manages portfolio of companies by Current YTY % Chg providing businesses and consumers with compelling information, analysis, insight, events, news and entertainment. Co.'s operating Revenue LFY (M) 1,203 -10.0 divisions includes: Insurance Risk, which produces risk models and EPS Diluted LFY 0.81 168.0 software applications; Consumer Media includes dmg media, which is a news media company; Property Information, which Market Value (M) 2,421 provides technology, data and workflow solutions to clients; EdTech, which includes Co.'s subsidiary, Hobsons Inc., a provider Shares Outstanding LFY (000) 226,643 of student success solutions; and Events and Exhibitions, which Book Value Per Share 5.05 includes dmg events, an international B2B exhibitions and conference organizer. EBITDA Margin % 7.10 Net Margin % 18.9 Website: www.dmgt.com Long-Term Debt / Capital % 15.0 ICB Industry: Consumer Discretionary Dividends and Yield TTM 0.17 - 1.55% ICB Subsector: Publishing Payout Ratio TTM % 29.7 Address: Northcliffe House;2 Derry Street London 60-Day Average Volume (000) 392 GBR 52-Week High & Low 1,124.00 - 650.00 Employees: 6,069 Price / 52-Week High & Low 0.95 - 1.64

Price, Moving Averages & Volume

1,147.7 1,147.7 Daily Mail & General Trust PLC is currently trading at 1,068.00 which is 2.2% below 1,082.5 1,082.5 its 50 day moving average price of 1,092.56 and 15.6% 1,017.3 1,017.3 above its 200 day moving average price of 923.50.

952.2 952.2 DMGT:LN is currently 5.0% below its 52-week high price of 1,124.00 and is 64.3% above 887.0 887.0 its 52-week low price of 650.00. Over the past 52- 821.8 821.8 weeks, DMGT:LN is up 61.6% while on a calendar year-to- date basis it is up 43.4%. 756.6 756.6 The Relative Strength Index (RSI) indicator for DMGT:LN is 691.5 691.5 currently 35.55. An RSI value of 70 and above is considered 626.3 626.3 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) 4,569 4,569

3,427 3,427

2,285 2,285

1,142 1,142

Mean (240.51) 0 0 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: 1,068.00 GBX Report Date: September 28, 2021 Price Performance, Technical Indicators & Risk Metrics

Difference Price Performance % Change vs FTSE 350 Technical Indicators 1-Day % -2.02 -1.24 50-Day Average Price 1092.56 1-Week % -3.09 -4.34 Price / 50-Day Average 0.98 4-Week % -3.26 -1.18 200-Day Average Price 923.50 52-Week % 61.57 40.53 Price / 200-Day Average 1.16 RSI - Relative Strength Index 35.55 Quarter-to-Date % 10.79 10.31

Year-to-Date % 43.36 33.85 Risk Metrics Last Month % 0.73 -1.19 Price Volatility 11.70 Last Quarter % 6.17 1.50 Sharpe Ratio 0.12 Last Calendar Year % -10.13 2.86 Sortino Ratio 0.19

5-Year Price Performance vs. FTSE 350

Daily Mail & General Trust PLC Current: 1.43 CAGR: 7.5% Over the past five years, Daily FTSE 350 Index Current: 1.18 CAGR: 3.3% Mail & General Trust PLC's stock price is up 43.5% which 1.5 1.5 is 25.8% above the FTSE 350 Index performance of 17.6% over the same period. Daily 1.5 1.5 Mail & General Trust PLC's DMGT:LN cumulative annualized growth 1.4 1.4 rate (CAGR) over the five year period has been 7.5% while that of the FTSE 350 Index 1.3 1.3 has been 3.3%.

Over the past year, Daily Mail 1.3 1.3 & General Trust PLC's stock price performance of 61.6% 1.2 1.2 has outperformed that of the ^NMX:LN FTSE 350 Index by 40.5%. On a year-to-date basis, Daily 1.1 1.1 Mail & General Trust PLC's stock price performance of 1.1 1.1 43.4% has outperformed the FTSE 350 Index by 33.9%.

1.0 1.0 Over the past week, Daily Mail & General Trust PLC's stock price performance of -3.1% 0.9 0.9 has underperformed that of the FTSE 350 Index by 4.3%. 0.9 0.9

0.8 0.8

0.7 0.7 2017 2018 2019 2020 2021 2022

Consumer Discretionary/Publishing Price: 1,068.00 GBX Report Date: September 28, 2021 Growth and Profitability Metrics

5-Year 10-Year Historical Growth 3-Year 5-Year 10-Year Profitability Current Average Average Revenues % -8.4 -8.2 -4.8 Gross Margin % 84.9 83.9 86.6 Revenues Per Share % -0.4 -2.6 -1.8 EBITDA Margin % 7.1 6.1 11.2 EBITDA % 999.9 -20.2 -13.2 Pre-Tax Margin % 5.3 13.1 12.4 EPS Diluted % -5.5 6.6 4.5 Net Margin % 18.9 22.8 16.9 Free Cash Flow % -5.9 -5.7 -5.2 Return on Equity % 21.3 46.9 71.9 Cash from Operations % -13.4 -11.3 -8.2 Return on Capital % 21.3 24.5 23.2 Book Value % 25.7 42.8 34.1 Return on Assets % 13.3 14.9 12.2

Revenue (M) Daily Mail & General Trust PLC's cumulative annualized Current: 1203.40 Median: 1426.40 High: 1917.30 Low: 1203.40 CAGR: -11.0% revenue growth rate over the 2,060.1 2,060.1 1,917.3 charted period is -11.0%. This compares to cumulatative 1,762.6 1,762.6 annualized growth of -8.4% 1,564.3 over the past 3 years. 1,426.4 1,465.2 1,337.0 1,465.2 1,203.4 1,167.7 1,167.7 2017 2018 2019 2020 2021 Daily Mail & General Trust EPS Diluted PLC's cumulative annualized Current: 0.81 Median: 0.81 High: 1.92 Low: 0.30 CAGR: 9.7% EPS growth rate over the 2.24 2.24 charted period is 9.7%. This 1.92 compares to cumulatative 1.57 1.57 annualized growth of -5.5% over the past 3 years. 0.96 0.89 0.81 0.89 0.56 0.30 0.22 0.22 2016 2017 2018 2019 2020 2021

Net Profit Margin % Daily Mail & General Trust PLC's net profit margin of Current: 18.89 Median: 18.84 High: 48.36 Low: 7.75 CAGR: 15.2% 18.9% is 3.9% below the 50.4 50.4 period's mean net margin of 22.8%. During the charted 35.5 35.5 period, the observed net profit Mean (22.80) margin high and low were 20.6 20.6 48.4% and 7.8% respectively.

5.7 5.7 2016 2017 2018 2019 2020 2021 Daily Mail & General Trust Return on Equity % PLC's return on equity of Current: 21.30 Median: 62.70 High: 87.80 Low: 7.00 CAGR: -24.0% 21.3% is 25.6% below the 91.8 91.8 period's mean return on equity of 46.9%. During the charted 62.2 62.2 period, the observed ROE Mean (46.89) high and low were 87.8% and 7.0% respectively. 32.6 32.6

3.0 3.0 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Publishing Price: 1,068.00 GBX Report Date: September 28, 2021 Valuation Metrics

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

Price / EPS TTM 13.2 9.5 11.5 Earnings Yield % 8.85 11.36 8.73

Price / Sales 2.5 1.7 1.6 Free Cash Flow Yield % 4.31 5.82 7.30

Price / Operating Cash Flow 10.5 7.5 8.6 Dividend Yield % 1.55

Price / Book Value 2.1 2.2 7.7 Enterprise Value / EBITDA 24.9 19.0 14.1

Price / EPS TTM Daily Mail & General Trust PLC is trading at 13.15 times Current: 13.15 Median: 9.48 High: 28.91 Low: 2.93 CAGR: 0.2% its EPS generated during the 30.2 30.2 latest fiscal year. This multiple is above the historically 20.7 20.7 observed median of 9.48, while high and low observations have been 28.91 11.2 Median (9.48) 11.2 and 2.93.

1.6 1.6 2016 2017 2018 2019 2020 2021 Price / Sales Daily Mail & General Trust PLC is trading at a Price to Current: 2.49 Median: 1.69 High: 2.59 Low: 1.30 CAGR: 11.6% Sales ratio of 2.49 based on 2.65 2.65 sales generated during the latest fiscal year. This ratio is 2.18 2.18 above the historically observed median ratio of 1.69, while high and low observations 1.71 Median (1.69) 1.71 have been 2.59 and 1.30.

1.24 1.24 2016 2017 2018 2019 2020 2021 Daily Mail & General Trust Price / Book Value PLC is trading at a Price to Current: 2.11 Median: 2.19 High: 8.74 Low: 1.21 CAGR: -24.8% Book ratio of 2.11 based on 9.1 9.1 book value at the latest fiscal year end. This ratio is below the historically observed 6.4 6.4 median of 2.19, while high and low observations have been 3.6 3.6 8.74 and 1.21. Median (2.19)

0.8 0.8 2016 2017 2018 2019 2020 2021 Daily Mail & General Trust Free Cash Flow Yield % PLC has a Free Cash Flow Current: 4.31 Median: 5.82 High: 9.79 Low: 3.34 CAGR: -11.1% Yield of 4.31% based on free 10.1 10.1 cash flow generated during the latest fiscal year. This value is below the historically observed 7.7 7.7 median yield of 5.82%, while Median (5.82) high and low observations 5.4 5.4 have been 9.79 and 3.34.

3.0 3.0 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Publishing Price: 1,068.00 GBX Report Date: September 28, 2021 Dividends Data

Dividends Per Share TTM 0.17 Payout Ratio TTM % 29.68% Dividend Yield TTM % 1.55%

Rate Ex Date Record Date Payment Date Currency Note 0.166 03-12-2020 04-12-2020 05-02-2021 GBP FINAL GROSS 0.075 04-06-2020 05-06-2020 26-06-2020 GBP INTERIM GROSS 0.166 12-12-2019 13-12-2019 07-02-2020 GBP FINAL GROSS 0.073 06-06-2019 07-06-2019 28-06-2019 GBP INTERIM GROSS

Dividend Growth and Yield

Dividends Per Share TTM Daily Mail & General Trust PLC's trailing 12-month Current: 0.17 Median: 0.24 High: 0.24 Low: 0.07 CAGR: 2.7% dividend per share is 0.17 and 0.25 0.25 its dividend has grown at a cumulative annualized rate of 0.22 0.22 2.7% over the charted period. This compares to dividend 0.19 0.19 growth of -31.10% over the past year and cumulative annualized growth of -7.10% 0.16 0.16 over the past 3 years.

0.12 0.12

0.09 0.09

0.06 0.06 2016 2017 2018 2019 2020 2021

Dividend Yield TTM % Daily Mail & General Trust PLC's current dividend yield is Current: 1.55 Median: 2.76 High: 3.85 Low: 0.83 CAGR: -6.8% 1.55% based on trailing 12 4.00 4.00 month dividends. The current yield is below the historically 3.45 3.45 observed median of 2.76% and, over the charted time 2.89 2.89 period, the observed high yield has been 3.85% and the observed low yield has been 2.34 2.34 0.83%.

1.79 1.79

1.23 1.23

0.68 0.68 2016 2017 2018 2019 2020 2021

Consumer Discretionary/Publishing Price: 1,068.00 GBX Report Date: September 28, 2021 ICB Subsector Peer Comparisons

Price Change Year to Date % Price Change Last Calendar Year % 0.0 37.9 75.7 113.6 151.4 -83.1 -59.5 -36.0 -12.5 11.1

Reach PLC 144.4 Pearson Plc 6.8

Time Out Group PLC 62.0 GlobalData PLC 5.8

Daily Mail & General Trust PLC 43.4 Reach PLC 5.3

Peer Group Average 41.9 Bloomsbury Publishing Plc 1.4

Wilmington Group Plc 36.7 RELX PLC -5.9

RELX PLC 18.6 Daily Mail & General Trust PLC -10.1

Bloomsbury Publishing Plc 17.7 Peer Group Average -12.9

GlobalData PLC 8.1 Wilmington Group Plc -35.7

Pearson Plc 4.4 Time Out Group PLC -71.0

0.0 37.9 75.7 113.6 151.4 -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 5.1 10.2 15.3 20.4

Merit Group plc 99.9 RELX PLC 19.5 Time Out Group PLC 99.9 GlobalData PLC 12.7 Reach PLC 99.9 Merit Group plc 8.9 Il Sole 24 Ore SpA 99.9 Peer Group Average 5.2 GlobalData PLC 81.5 Wilmington Group Plc 4.4 Peer Group Average 56.2 Rizzoli Corriere della Sera MediaGroup… 2.3 Wilmington Group Plc 41.4 Daily Mail & General Trust PLC 2.1 RELX PLC 33.6 Reach PLC 2.0 Bloomsbury Publishing Plc 20.7 Bloomsbury Publishing Plc 1.7 Pearson Plc 17.3 Pearson Plc 1.3 Daily Mail & General Trust PLC 13.2 Il Sole 24 Ore SpA 1.0 Rizzoli Corriere della Sera MediaGroup… 10.5 Time Out Group PLC 1.0 0.0 26.1 52.2 78.3 104.4 0.0 5.1 10.2 15.3 20.4

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: 1,068.00 GBX Report Date: September 28, 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: 1,068.00 GBX Report Date: September 28, 2021

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