2019 INTERIM RESULTS London 9 AUGUST 2019

2019 INTERIM RESULTS 1 SAFE HARBOUR STATEMENT

In order to utilise the ‘safe harbour’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), WPP plc is providing the following cautionary statement. This presentation contains certain forward-looking statements – that is, statements related to future, not past events and circumstances – which may relate to one or more of the financial conditions, results of operations and businesses of WPP plc and certain of the plans and objectives of WPP with respect to these items. These statements are generally, but not always, identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘aims’, ‘should’, ‘may’, ‘objective’, ‘is likely to’, ‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘we see’ or similar expressions. Actual results may differ from those expressed in such statements, depending on a variety of factors including the risk factors set forth in our most recent Annual Report and Form 20-F under “Risk factors” and in any of our more recent public reports. Nothing in this presentation is intended as a forecast, nor should it be taken as such.

Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.wpp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.

2019 INTERIM RESULTS 2 2019 INTERIM RESULTS

PROGRESS ON STRATEGY

CONCLUSION AND Q&A

2019 INTERIM RESULTS 3 SIX MONTHS OF GOOD STRATEGIC PROGRESS

• H1 revenue less pass-through costs -2.0%; signs of progress in Q2 • Encouraging areas of growth: media businesses, tech clients and faster-growth economies • USA (Q1 -8.8%, Q2 -5.4%) remains a major area of focus • Improved client retention and key new business wins: L’Oréal, eBay, Instagram • Kantar transaction further simplifies WPP and significantly reduces leverage • Many key hires now in place; more to come • 2019 guidance unchanged; greater confidence in full year

2019 INTERIM RESULTS 4 2019 INTERIM RESULTS

2019 INTERIM RESULTS 5 FIRST HALF AND Q2 HIGHLIGHTS

• H1 LFL revenue less pass-through costs -2.0% • Q2 LFL revenue less pass-through costs -1.4%, improved on Q1 -2.8% • Q2 LFL revenue less pass-through costs improved significantly for North America -5.3% (Q1 -8.5%) and UK 1.3% (Q1 -0.9%) • Western Continental Europe improved slightly in Q2, LFL revenue less pass-through costs flat (Q1 -0.3%). Belgium, France, Italy and Turkey performed well, Germany slower • Asia Pacific, Latin America, Africa & M East and C&E Europe strongest performing region, LFL revenue less pass-through costs up 1.2% in Q2 (Q1 2.3%). Improvement in Latin America, Africa & M East, C&E Europe offset by slower growth in Asia Pacific • H1 operating margin 11.9%, down 1.2 margin points LFL, reflecting revenue less pass- through costs trend; IFRS 16: Leases benefit to reported margin 0.5 margin points • Average net debt £4.384B, down £595M (down £709M constant currency) year-on-year supported by disposal programme

2019 INTERIM RESULTS 6 SUMMARY UNAUDITED IFRS INCOME STATEMENT

Δ CONSTANT HALF YEAR TO 30 JUNE 2019 £M 2018 £M Δ REPORTED¹ CURRENCY² Revenue 7,616 7,493 1.6% 0.0% Gross profit 1,226 1,274 -3.8% -5.1% Operating profit³ 673 842 -20.1% -21.0% PBIT⁴ 681 851 -20.0% -20.9% Profit before tax⁵ 478 846 -43.5% -44.1% Tax rate 26.9% 16.7% Profit after tax 349 705 -50.5% -51.2%

Reported diluted EPS 24.8p 53.4p -53.6% -54.3%

1. % change in reported sterling 2. % change at constant currency rates 3. Operating profit includes net exceptional gain £10m (2018 gain £143m) and goodwill/intangible charges £67m (2018 charges £84m) 4. PBIT includes net exceptional loss £3m (2018 gain £114m) and goodwill/intangible charges £67m (2018 charges £84m) 2019 INTERIM RESULTS 7 5. PBT includes net exceptional loss £3m (2018 gain £114m), goodwill/intangible charges £67m (2018 charges £84m) and revaluation of financial instruments charge £57m (2018 credit £81m) SUMMARY UNAUDITED HEADLINE¹ RESULTS Δ CONSTANT Δ LIKE-FOR- HALF YEAR TO 30 JUNE 2019 £M 2018 £M Δ REPORTED CURRENCY LIKE² Revenue 7,616 7,493 1.6% 0.0% -0.6% Revenue less pass-through costs 6,149 6,149 0.0% -1.6% -2.0%

EBITDA³ 875 948 -7.7% -8.9% Operating profit 730 783 -6.8% -8.0% PBIT 751 821 -8.5% -9.6%

Operating profit margin⁴ 11.9% 12.7% -0.8⁵ -0.8⁵ -1.2⁵ PBIT margin⁴ 12.2% 13.3% -1.1⁵ -1.1⁵ -1.3⁵

Tax rate 22.8% 22.5% n/a n/a

Diluted EPS 34.2p 42.6p -19.7% -20.9% Dividend per share 22.7p 22.7p - -

Average net debt (4,384) (4,979) -12.0% -13.9% Rolling average net debt/EBITDA⁶ 2.1x 2.1x n/a n/a

1. Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of 4. Margin as % of revenue less pass-through costs subsidiaries and investments, investment write-downs, share of exceptional gains/losses of associates, 5. Margin points restructuring and transformation costs, litigation settlement, gain on sale of New York freehold property and 6. Average net debt/EBITDA for 12 months to 30 June revaluation of financial instruments 2019 INTERIM RESULTS 8 2. Like-for-like growth at constant currency exchange rates and excluding effect of acquisitions and disposals 3. Headline EBITDA excluding reversal of depreciation of right-of-use assets REVENUE LESS PASS-THROUGH COSTS GROWTH VS PRIOR YEAR

Q1 Q2 H1

1.1% Like-for-like -2.8% Like-for-like -1.4% Like-for-like -2.0% 1.1% 0.7 0.3 % -3.9% %

-5.0% Acquisitions 0.5% Acquisitions 0.4% Acquisitions 0.4%

FX 1.6% FX 1.7% FX 1.6%

Reported -0.7% Reported 0.7% Reported 0.0%

2019 INTERIM RESULTS 9 IMPACT OF FX ON REVENUE LESS PASS-THROUGH COSTS

2018 FY ACT 2019 Q1 ACT 2019 Q2 ACT 2019 Q3 EST 2019 Q4 EST 2019 FY EST 5%

4% • 2019 H1 currency 3% tailwind 1.6% • 2019 currency tailwind 2% 3.9% 4.0% 2.8%¹ 2.8% 1% 1.6% 1.7% • 2018 full year headwind -2.8% 0%

-1% -2.8% -2%

-3%

1. Based on applying 31 July 2019 exchange rates of £/US 1.22 and £/€1.10 to H2 2019 revenue less pass-through costs 2019 INTERIM RESULTS 10 REVENUE LESS PASS-THROUGH COSTS BY REGION

Δ CONSTANT Δ LIKE- HALF YEAR TO 30 JUNE % GROUP 2019 £M 2018 £M Δ REPORTED CURRENCY FOR-LIKE

North America 35.1 2,157 2,155 0.1% -5.7% -6.9%

UK 13.5 831 833 -0.2% -0.2% 0.2%

Western Continental Europe 21.2 1,306 1,319 -1.0% 0.2% -0.1%

Asia Pacific, Latin America, Africa & Middle 30.2 1,855 1,842 0.7% 1.6% 1.7% East and Central & Eastern Europe

Total 100.0 6,149 6,149 0.0% -1.6% -2.0%

2019 INTERIM RESULTS 11 REVENUE LESS PASS-THROUGH COSTS GROWTH BY REGION LIKE-FOR-LIKE %

C. & E. Europe % Q1 Q2 5.0 6.3

UK % Q1 Q2 -0.9 1.3 North America % Q1 Q2 W. Cont. Europe % -8.5 -5.3 Q1 Q2 -0.3 0.0

Asia Pacific % Q1 Q2 1.4 -1.6

Africa & M. East % Q1 Q2 -4.7 -0.5

Latin America % Q1 Q2 8.0 9.3 % Q1 Q2 H1 Mature Markets -4.7 -2.5 -3.6 Faster Growing Markets 2.3 1.2 1.7 Total -2.8 -1.4 -2.0 2019 INTERIM RESULTS 12 TOP 5 MARKETS

USA UK Germany Greater China² France Headcount 23,000 14,000 8,000 10,000² 4,000

REVENUE LESS PASS-THROUGH COSTS GROWTH¹ 2019 H1 -7.1% 0.2% -2.4% -2.9% -0.3%

2019 Q2 -5.4% 1.3% -5.0% -8.7% 0.9%

2019 Q1 -8.8% -0.9% 0.4% 4.5% -1.5%

2018 FY -4.2% -0.5% 0.0% 2.1% 0.1%

1. Like-for-like growth vs prior year 2. Includes Hong Kong and Taiwan 2019 INTERIM RESULTS 13 BRIC MARKETS

Mainland China Greater China² Brazil India Russia Headcount 8,000 10,000 7,000 11,000 2,000

REVENUE LESS PASS-THROUGH COSTS GROWTH¹ 2019 H1 -2.8% -2.9% 10.2% 12.6% 5.0%

2019 Q2 -10.1% -8.7% 11.6% 15.8% 11.1%

2019 Q1 6.6% 4.5% 8.6% 9.3% -1.1%

2018 FY 2.6% 2.1% 5.6% 5.5% 1.3%

1. Like-for-like growth vs prior year 2. Includes Hong Kong and Taiwan 2019 INTERIM RESULTS 14 REVENUE LESS PASS-THROUGH COSTS BY SECTOR¹

Δ CONSTANT Δ LIKE- HALF YEAR TO 30 JUNE % GROUP 2019 £M 2018£M Δ REPORTED CURRENCY FOR-LIKE

Global Integrated Agencies 62.8 3,858 3,844 0.4% -1.4% -1.8%

Data Investment Management 15.4 949 940 1.0% 0.6% 0.4%

Public Relations 7.2 442 430 2.8% -0.1% -1.5%

Specialist Agencies 14.6 900 935 -3.8% -5.5% -5.7%

Total 100.0 6,149 6,149 0.0% -1.6% -2.0%

1. As outlined in the Group’s RNS statement on 5 August and following a review of the appropriateness of the existing sector reporting, this has been changed to bring it into line with the various structural changes that have taken place over the last year and the simplification of the Group’s structure. Comparatives have been restated to reflect these sector changes 2019 INTERIM RESULTS 15 HEADLINE¹ OPERATING PROFIT AND MARGIN BY REGION

OPERATING PROFIT £M OPERATING MARGIN² HALF YEAR TO 30 JUNE 2019 2018 2019 2018 North America 301 342 14.0% 15.9%

UK 107 107 12.8% 12.9%

Western Continental Europe 119 122 9.1% 9.3% Asia Pacific, Latin America, Africa & Middle 203 212 11.0% 11.5% East and Central & Eastern Europe Total 730 783 11.9% 12.7%

OPERATING PROFIT £M OPERATING MARGIN³ HALF YEAR TO 30 JUNE 2019 2018 2019 2018 Global Integrated Agencies 471 485 12.2% 12.6%

Data Investment Management 101 110 10.7% 11.7%

Public Relations 70 69 15.7% 16.0%

Specialist Agencies 88 119 9.7% 12.7%

Total 730 783 11.9% 12.7%

1. Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses on disposals of subsidiaries and investments, investment write-downs, restructuring and transformation costs, litigation settlement and gain on sale of New York freehold property 2. As outlined in the Group’s RNS statement on 5 August and following a review of the appropriateness of the existing sector reporting, this has been changed to bring it into line with the various structural changes that have taken place over the last year and the simplification of the Group’s structure. Comparatives have been restated to reflect this 2019 INTERIM RESULTS 17 3. Margin as % of revenue less pass-through costs TRADE ESTIMATES OF ASSIGNMENT WINS (1) FIRST HALF

MEDIA (M)/ WPP AGENCY CREATIVE (C) INCUMBENT ACCOUNT OFFICE BILLINGS $M MediaCom M OMC Signet N. America 360

Wavemaker M OMC Huawei China 350

Mindshare M DEN/PUB KangShiFu Drinks China 145

Essence M Wavemaker L’Oréal¹ UK/Ireland 130

Wunderman Thompson C N/A Duracell International 100

Mindshare M N/A GSK India 82

Wavemaker M DEN Eurostar Europe 80

Wavemaker M DEN William Hill UK 80

Shaded are Q2 wins 1. Transfer within WPP 2019 INTERIM RESULTS 18 TRADE ESTIMATES OF ASSIGNMENT WINS (2) FIRST HALF

MEDIA (M)/ WPP AGENCY CREATIVE (C) INCUMBENT ACCOUNT OFFICE BILLINGS $M Wavemaker M N/A Little Red Book China 66

Wavemaker M N/A Chimelong China 47

WPP C N/A Distell Global 45

MediaCom M DEN Adidas EMEA 42

MediaCom M PUB Coca-Cola Russia 40

Mindshare M OMC Newell Brands N. America 40

Grey C MDC Nokia Global 40 m/SIX M IND Regions Bank USA 36

Ogilvy C N/A Instagram Global >30

Shaded are Q2 wins 2019 INTERIM RESULTS 19 TRADE ESTIMATES OF ASSIGNMENT LOSSES FIRST HALF

MEDIA (M)/ WPP AGENCY CREATIVE (C) WINNING AGENCY ACCOUNT OFFICE BILLINGS $M Wavemaker M Essence L’Oréal¹ UK/Ireland 130

Essence M PUB NBC Entertainment USA 110

Shaded are Q2 wins 1. Transfer within WPP 2019 INTERIM RESULTS 20 TRADE ESTIMATES OF ASSIGNMENT WINS/LOSSES SINCE 1 JULY

MEDIA (M)/ WPP AGENCY CREATIVE (C) INCUMBENT ACCOUNT OFFICE BILLINGS $M Mindshare M MediaCom Allergan¹ USA 378 WINS MediaCom M OMC/PUB/IPG eBay N. America/China 250

MEDIA (M)/ WINNING WPP AGENCY CREATIVE (C) AGENCY ACCOUNT OFFICE BILLINGS $M LOSS MediaCom M Mindshare Allergan¹ USA 378

1. Transfer within WPP 2019 INTERIM RESULTS 21 FREE CASH FLOW¹ AND FREE CASH FLOW CONVERSION HALF YEAR TO 30 JUNE 2019² £M 2018 £M Operating profit 673 842 Depreciation & amortisation charges 360 211 - Depreciation & amortisation ex IFRS 16 192 211 - Depreciation of right to use assets 168 - Lease payments (including interest) (156) - Non-cash compensation 33 42 Net interest paid & similar charges (75) (50) Tax paid (261) (251) Capital expenditure (167) (178) Earnout payments (58) (38) Other (83) (231) Free cash inflow pre working capital/provisions 266 347

1. Cash flow presentation amended to reflect definitions of free cash flow set out in 11 December 2018 Investor Day “Financial Outlook” presentation available on wpp.com 2. 2019 includes impact of IFRS 16 2019 INTERIM RESULTS 22 USES OF CASH FLOW¹ HALF YEAR TO 30 JUNE 2019 £M 2018 £M Free cash inflow pre working capital/provisions 266 347 Working capital and provisions (779) (556) - Trade working capital (297) (192) - Other receivables, payables & provisions (482) (364) Free cash outflow (513) (209) Net disposals/(acquisitions) ex earnout payments 278 348 - Disposal proceeds² 304 484 - Net initial payments³ (26) (136) Net cash (outflow)/inflow before distributions (235) 139 Distributions to share owners - (201) - Dividends - - - Share buy-backs - (201) Net cash outflow (235) (62)

1. Cash flow presentation amended to reflect definitions of free cash flow outlined in 11 December 2018 Investor Day “Financial Outlook” presentation available on wpp.com 2. Includes proceeds from disposals of property, plant & equipment (£167m), and investments and subsidiaries (£137m) 3. Net initial payments are net of cash acquired, and includes other investments and associates 2019 INTERIM RESULTS 23 DISPOSAL PROCEEDS¹

H1 2019 £M Property - 3 Columbus Circle, New York City 159 Chime 54 The Farm 27 Blue State Digital Tools 20 Other disposals 44 Total 304

1. Includes proceeds from disposals of property, plant & equipment (£167m), and investments and subsidiaries (£137m) 2019 INTERIM RESULTS 24 RESTRUCTURING : DISPOSALS Investments Associates/JV’s Subsidiaries 2018 2018 2018 AppNexus Big Idea Group Grey Bulgaria CMC Content Bruin Sports Capital Grey Serbia Domo DASL IEG Fullscreen Globant JWT Mirum Miami Fullsix Imagina (Return of Capital) Maxx Marketing Imagine OptimizeRx OnCall Ooh!Media Rediffusion Pace Raine Capital II Teledirect PXP Woven Inc/UpRoxx Sudler & Hennessey India 2019 YouEarnedIt TNS France CATI & F2F Zappistore Artistree Captivate Group 2019 2019 Chime Communications Action Line Brazil BNTI Etecture Blue State Digital Tools Gimlet Jan Kelley CEEOR Information Resources UK1 Planorama1 Mannov PR IMAX Richard Attias The Farm Wild Tangent WPP Manufacturing1

2018 and H1 2019 Cash Inflow £986m 2018 PBIT Contribution £17m

1. H2 2019 disposals. Total Cash Inflow and 2018 PBIT Contribution relates to 2018 and H1 2019 disposals only 2019 INTERIM RESULTS 25 NET DEBT

HALF YEAR TO 30 JUNE: 2019 £M 2018 £M Δ £M Average net debt¹ on constant currency basis (4,384) (5,093) 709 Average net debt¹ on reportable basis (4,384) (4,979) 595 Net debt¹ at 30 June on constant currency basis (4,271) (4,742) 471 Net debt¹ at 30 June on reportable basis (4,271) (4,632) 361 Headline finance costs¹,² (94) (86)

Interest cover¹ on headline operating profit 7.8x 9.1x

Headline EBITDA¹ 841 948 Rolling 12 month headline EBITDA¹ 2,204 2,466 Rolling average net debt/headline EBITDA¹ 2.1x 2.1x

1. Net debt, headline finance costs, interest cover, headline EBITDA, rolling 12 month headline EBITDA, rolling average net debt/headline EBITDA exclude impact of IFRS16 2019 INTERIM RESULTS 26 2. Headline finance costs of £94m excludes £52m IFRS 16 impact of all leases, which is £3m higher than £49m IFRS 16 impact of leases existing at 1 January 2019 USES OF FREE CASH FLOW FY JUNE YTD JUNE YTD FY TARGET 2019 2018 2018 (Disposals)/acquisitions (excluding earnouts): Acquisitions¹ c. £200M £26M £136M £288M Less disposals² c. £(200M) £(304M) £(469M) £(849M) Net (disposals)/acquisitions NEUTRAL £(278M) £(333M) £(561M) Share buy-backs: - - £201M £207M % of issued share capital - - 1.3% 1.3% Balance Sheet Headroom: Undrawn facilities & surplus cash - £3.6B £3.6B £4.3B Average net debt at 2019 exchange rates - £4.4B £5.1B £5.0B³

Target range of average net debt/EBITDA ratio⁴ of 1.5-1.75x to be achieved by end of 2021

1. Acquisitions are initial payments, net of cash acquired, and include other investments and associates 2. Includes proceeds from disposals of property, plant & equipment (£167m), and investments and subsidiaries (£137m) 3. FY 2018 net debt stated at 2018 actual exchange rates 2019 INTERIM RESULTS 27 4. Net debt/EBITDA ratio calculated excluding impact of IFRS 16 DEBT MATURITY PROFILE £M AT 30 JUNE 2019

£ TOTAL £ TOTAL CREDIT DRAWN 700 ◼ £ bonds £400M (2.875% Sep ’46) 400 400 ◼ US bond $220M (5.625% Nov ’43) 173 173 600 ◼ US bond $93M (5.125% Sep ’42) 73 73 ◼ Eurobonds €600M (1.625% Mar ’30) 537 537 500 ◼ Eurobonds €750M (2.25% Sep '26) 671 671 ◼ Eurobond €500M (1.375% Mar ‘25)/£444M Swap1 444 444 400 ◼ US bond $750M (3.75% Sep '24) 591 591 ◼ Eurobonds €750M (3.0% Nov ’23) 671 671 300 ◼ US bond $500M (3.625% Sep ’22) 394 394 ◼ Eurobond €250M (3m EURIBOR + 0.45% Mar ’22) 224 224 200 ◼ US bond $812M (4.75% Nov ’21) 640 640 ◼ Eurobonds €250M (3m EURIBOR + 0.32% May ’20) 224 224 100 ◼ Eurobonds €600M (0.75% Nov ’19) 537 537 Debt Facilities 5,579 5,579 0 Bank revolver2 WPP ($2,500M Mar ’24) 1,969 358 Bank revolver2 WPP AUNZ (A$520M Jun’20/Jun ‘21) 287 213 Net cash, overdrafts & other adjustments – (1,879) Weighted Average Coupon 2.7% Total Borrowing Capacity / Net Debt 7,835 4,271 Weighted Average Maturity 7.1 years Available Liquidity £3,564M Exchange Rates £/$ 1.2695 £/€ 1.1175 £/A$ 1.8109 1 Swapped to £444m at 2.61% 2019 INTERIM RESULTS 28 2 These instruments are subject to financial covenants IFRS 16 : OVERVIEW

IFRS 16 effective 1 January 2019:

• All leases treated the same, no finance and operating designation

• Primarily real estate (97%)

• All leases on balance sheet except short-term and low value leases

• Balance sheet gross up at 30 June 2019 includes £1.8B right-of-use asset and £ 2.3B lease liabilities shown on balance sheet

• Right-of-use asset = lease liability + lease payments prior to commencement + direct costs + costs to restore the site or asset – incentives

• Lease liability = PV of future lease payments

• Higher total expense initially as interest front loaded

2019 INTERIM RESULTS 29 IFRS 16: HEADLINE¹ P&L IMPACT BASED ON 1 JANUARY 2019 LEASES

2019 H1 2018 H1 P&L EX RIGHT- IMPACT OF-USE RIGHT-OF- AS AS P&L impact £M EX IFRS 16 IFRS 16 DEP’N USE DEP’N REPORTED REPORTED EBITDA 841 34 875 169 1,044 948 Operating profit 696 34 730 - 730 783 Operating margin² 11.4% 0.5% 11.9% - 11.9% 12.7% PBIT 717 34 751 - 751 821 Net finance costs (97) (49) (146) - (146) (86) Profit before tax 620 (15) 605 - 605 735 Diluted EPS 35.0p (0.8p) 34.2p - 34.2p 42.6p

No cash impact

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 and transformation costs, litigation settlement, gain on sale of New York freehold property and revaluation of financial instruments 2. Margin as % of revenue less pass-through costs 2019 INTERIM RESULTS 30 KANTAR TRANSACTION¹ STRENGTHENS BALANCE SHEET, LIMITS DILUTION

• Successfully executed: simplification and de-leverage

• Net proceeds c. $3.1B

• “First Completion” (≥86% of Kantar and associated proceeds) expected early 2020

• Subsequent completion(s) and remainder of proceeds within 12 months of announcement

• Takes leverage to low end of target range well ahead of plan with c. $1.9B of proceeds used to reduce debt

• c. $1.2B to be returned to shareholders, expected to minimise earnings dilution

• Potential value upside for WPP shareholders through retained 40% equity stake

1. Transaction completion conditional upon: • WPP shareholder vote (simple majority) • Antitrust clearances 2019 INTERIM RESULTS 31 • Kantar legal reorganisation OUTLOOK

Our 2019 financial targets remain as: • Like-for-like revenue less pass-through costs -1.5% to -2.0% • Headline operating margin¹ down around 1.0 margin point on constant currency basis (excluding impact of IFRS 16)

1. Margin as % of revenue less pass-through costs 2019 INTERIM RESULTS 32 PROGRESS ON STRATEGY

2019 INTERIM RESULTS 33 RADICAL EVOLUTION: A STRATEGY FOR GROWTH

VISION AND DATA AND CREATIVITY OFFER TECHNOLOGY

SIMPLER STRUCTURE CULTURE

2019 INTERIM RESULTS 34 CLIENTS’ NEEDS SIGNIFICANTLY GROWING OUR ADDRESSABLE MARKET

COMMUNICATIONS EXPERIENCE COMMERCE TECHNOLOGY

$1 trillion market: >$100 billion market: Platform spend $300 billion market: +/- 3% growth1 5-10% growth2 $9.5bn: 15% growth3 5-10% growth2

1. GroupM forecast 2. Exane BNP Paribas 3. Forrester (Data Commerce Platform Technology Forecast) 2019 INTERIM RESULTS 35 ENCOURAGING GROWTH AREAS IN H1

India “Big Tech” clients1 Xaxis +13% +16% +16%

Luxury Goods Brazil clients +10% +7%

2019 INTERIM RESULTS 36 1. “Big Tech” represents 13 technology companies in our top 100 clients RECENT CAMPAIGNS INTEGRATE TECH, PURPOSE AND CREATIVITY

2019 INTERIM RESULTS 37 IMPROVED OFFER REFLECTED IN NEW AND EXPANDED/ RETAINED BUSINESS

NEW CLIENTS

EXPANDED REMIT/RETENTION

2019 INTERIM RESULTS 38 Highlights 2019 YTD NEW BUSINESS CASE STUDY: L’ORÉAL BEAUTY TECH LAB

SCOPE AND VALUE • UK&I media planning/buying. Total media billings £106m. Top 5 UK&I advertiser

• Transformative approach to reaching customers based on a clear data strategy. WHY WE WON Advanced use of tech, Essence tools and deep knowledge of Google stack to support greater ecommerce focus

• Client and agency teams share the same software, tools and processes. Location- HOW IT WILL OPERATE agnostic – teamworking on both client site and Essence offices

WPP AGENCIES • Switch from Wavemaker to Essence. Agency is the gateway to all expertise within WPP INVOLVED (eg Wunderman Thompson for ecommerce) on a “sprint” basis

CLIENT VIEW • “Buying media technology is not our job; our job is beauty”

2019 INTERIM RESULTS 39 NEW BUSINESS CASE STUDY: VODAFONE ZIGGO/GO ONE

• Multi-disciplinary strategic marketing and communications partnership model SCOPE AND VALUE • 2018 media billings €140m; top 5 NL advertiser

• WPP’s ability to deliver a unique integrated client model WHY WE WON • access to best in class talent across all disciplines • Strong vindication of campus strategy

• Core WPP/client team leadership team HOW IT WILL OPERATE • Partly open ecosystem including in-house capability, WPP agencies and outside partners • Flexible, customer-centric and efficient structure

WPP AGENCIES • Wunderman Thompson, Greenhouse, Kantar, GroupM, Wavemaker, VBAT INVOLVED

• "With the arrival of new competitors in the agency world, more and more integrated, CLIENT VIEW customer-focused control models arise. WPP proved to be the best partner for us to work with in future.”

2019 INTERIM RESULTS 40 CAMPUSES DRIVING ENGAGEMENT FOR CLIENTS AND OUR PEOPLE

NEW YORK MADRID

AMSTERDAM MILAN

MUMBAI BUENOS AIRES

2019 INTERIM RESULTS 41 SIMPLER STRUCTURE: INCREASED EFFICIENCY

Investor Day Target Current Status On Plan?

100 planned mergers Business Unit 102 completed or in (at local office level) Rationalisation progress by end of 2019

80 planned closures Business Unit Closures 68 closed or in progress by end of 2019

Gross Headcount 3,500 by end of 2019 3,100 Reduction

Expected 2019 OP Benefit £160m £160m from Gross Savings

2019 INTERIM RESULTS 42 SUMMARY

• Good operational execution of our strategic plan to date

• H1 financial performance in line, and Q2 sequentially better

• Kantar transaction successfully executed: simplification and de-leverage

• Fewer, stronger businesses to drive better retention and new business

• Further progress in H2 but 2018 assignment losses will continue to drag

• On track to meet three year targets

2019 INTERIM RESULTS 43 OTHER FINANCIAL INFORMATION

2019 INTERIM RESULTS 44 UNAUDITED IFRS INCOME STATEMENT Δ CONSTANT HALF YEAR TO 30 JUNE 2019 £M 2018 £M Δ REPORTED CURRENCY Revenue 7,616 7,493 1.6% 0.0% Gross profit 1,226 1,274 -3.8% -5.1% Operating profit pre exceptional & goodwill/intangibles¹ 730 783 -6.8% -8.0% Net exceptional gain 10 143 - - Goodwill/intangible charges (67) (84) 20.4% 20.6% Operating profit 673 842 -20.1% -21.0% Income from associates 21 38 -43.4% -43.3% Share of associate exceptional loss (13) (29) -55.2% -52.9% PBIT 681 851 -20.0% -20.9% Net finance costs (203) (5) - - Profit before tax 478 846 -43.5% -44.1% Tax (129) (141) 8.7% 7.9% Profit after tax 349 705 -50.5% -51.2% Non-controlling interests (37) (33) -11.8% -12.7% Attributable to share owners 312 672 -53.5% -51.2% Reported diluted EPS 24.8p 53.4p -53.6% -54.3%

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 and transformation costs, litigation settlement, gain on sale of New York freehold property and revaluation of financial instruments 2019 INTERIM RESULTS 45 IMPACT OF NON HEADLINE ITEMS ON PBT

Δ CONSTANT 2019 2018 Δ REPORTED CURRENCY HALF YEAR TO 30 JUNE £M £M £M % % Exceptional (loss)/gain (3) 114 (117)

Goodwill/intangible charges (67) (84) 17

Revaluation of financial instruments¹ (57) 81 (138)

Non headline items (127) 111 (238)

Reported PBT 478 846 (368) -43.5% -44.1%

Headline PBT 605 735 (130) -17.6% -18.4%

1. Revaluation of financial instruments comprises movements in fair value of treasury instruments -£25m (2018 £4m), revaluation of investments held at fair value through P&L £2m (2018 £26m), revaluation of put options over non-controlling interests -£26m (2018 £21m) and revaluation of payments due to vendors (earnout agreements) -£8m (2018 £30m) 2019 INTERIM RESULTS 46 NET EXCEPTIONAL GAIN/(LOSS)

HALF YEAR TO 30 JUNE 2019 £M Gain on disposals of investments and subsidiaries 40

Litigation settlement 17

Gain on sale of New York freehold property 8

Restructuring and transformation costs (55)

Net exceptional gain 10

Share of associate exceptionals (13)

Net exceptional loss including associate exceptionals (3)

2019 INTERIM RESULTS 47 UNAUDITED HEADLINE¹ IFRS INCOME STATEMENT Δ CONSTANT Δ LIKE-FOR- HALF YEAR TO 30 JUNE 2019 £M 2018 £M Δ REPORTED CURRENCY LIKE Revenue 7,616 7,493 1.6% 0.0% -0.6% Revenue less pass-through costs 6,149 6,149 0.0% -1.6% -2.0% Operating profit 730 783 -6.8% -8.0% Income from associates 21 38 -43.4% -43.3% PBIT 751 821 -8.5% -9.6% Net finance costs (146) (86) -69.6% -63.1% Profit before tax 605 735 -17.6% -18.4% Tax at 22.8% (2018: 22.5%) (138) (165) 16.6% 12.9% Profit after tax 467 570 -18.0% -20.0% Non-controlling interests (37) (33) -11.8% -12.7% Attributable to share owners 430 537 -20.0% -22.0% Diluted EPS 34.2p 42.6p -19.7% -20.9% Operating profit margin² 11.9% 12.7% -0.8³ -0.8³ -1.2³ PBIT margin² 12.2% 13.3% -1.1³ -1.1³ -1.3³ EBITDA⁴ 875 948 -7.7% -8.9%

1. Figures before goodwill and intangibles charges, gains/losses on step-ups, gains/losses 2. Margin as % of revenue less pass-through costs on disposals of subsidiaries and investments, investment write-downs, share of 3. Margin points exceptional gains/losses of associates, restructuring and transformation costs, litigation 4. Headline EBITDA excluding reversal of depreciation of right-of-use assets settlement, gain on sale of New York freehold property and revaluation of financial 2019 INTERIM RESULTS 48 instruments REVENUE LESS PASS-THROUGH COSTS GROWTH BY COUNTRY

REVENUE LESS PASS-THROUGH COSTS GROWTH¹ TOP COUNTRIES²

More than 10% Argentina, Belgium, Brazil, India, Turkey

5% to 10% Denmark, Mexico, Poland, Russia

Colombia, Indonesia, Italy, Netherlands, Singapore, 0% to 5% Sweden, Switzerland, UK

Canada, Mainland China, Greater China³, Dubai, Less than 0% France, Germany, Japan, South Africa, South Korea, Spain, Thailand, USA

1. Like-for-like growth vs prior year 2. Australia and New Zealand not disclosed as WPP AUNZ has not reported Q2 trading 3. Includes Hong Kong and Taiwan 2019 INTERIM RESULTS 49 REVENUE LESS PASS-THROUGH COSTS GROWTH BY CATEGORY

REVENUE LESS PASS-THROUGH COSTS GROWTH¹ CATEGORIES

More than 10% Government

0% to 10% Tech, Food, Retail, Telecommunications

Automotive, Drinks, Electronics, Financial Less than 0% Services, Media & Entertainment, Oil, Personal Care & Drugs, Travel & Airline

1. Like-for-like growth vs prior year

2019 INTERIM RESULTS 50 REVENUE LESS PASS-THROUGH COSTS BY INDUSTRY

Other Auto 11% 12%

Travel & Entertainment Consumer Products 7% 6%

Telecommunications 5% Personal Care 10%

Technology 6%

Retail 7% Healthcare 11% Government 2% Oil 2% Financial Services Food & Drink 7% 14%

Chart represents the amount of revenue less pass-through costs attributed to each industry expressed as a percentage of the total revenue less pass-through costs from WPP’s designated clients 2019 INTERIM RESULTS 51 (over 3,000) for the period ended 30 June 2019 EFFECTS OF CURRENCY

STERLING 2019 2018 (WEAKER)/STRONGER US$ 1.29 1.38 -7% € 1.15 1.14 1% • Currency movements accounted for 1.6% ¥ 142 150 -5% increase in revenue less Chinese Renminbi 8.8 8.8 - pass-through costs Brazilian Real 4.97 4.71 6% • Reflects overall weakness of £ sterling, Australian $ 1.83 1.78 3% primarily against US$ Canadian $ 1.73 1.76 -2% Indian Rupee 91 90 1% Singapore $ 1.76 1.83 -4% Russian Rouble 84 82 2% South African Rand 18.4 16.9 9%

2019 INTERIM RESULTS 52 2019 INTERIM RESULTS London 9 AUGUST 2019

2019 INTERIM RESULTS 53