Roger Horton CEO Taylor & Francis

2 Academic Information Division

Overview of the AI division – books and journals

Characteristics of the AI Book Business

Profile of the Book Business

Digital and e-Books

Summary

Questions

3 Academic Information Division

Revenues of £324m in 2011 (£153m books), Adj OP margin of 36%

Formed in 1798, floated 1998, merged with Informa in 2004

Employ over 1,400 people

Centres in UK, USA, Singapore, India, China, Australia and Europe

Built through organic growth and fully integrated acquisitions

Focused on resilient and growing niches OP

4 Specialist Academic Information

Target markets - university libraries, under/post graduate students, researchers and professionals

Shift from print to electronic delivery 100% journals online, e-book revenues 12% from zero in 10 years

Digital excellence, geographic expansion and high value/margin specialism

Quality specialist content provider

Books and journal businesses thrive on co-existence

Top Humanities and Social Science Academic publisher with STM strengths

Global focus, global reach

5 Academic Information

1,600+ subscription based journals

3,500+ new book titles p.a.

60,000+ titles in books back list

Revenues by Type Revenues by Sector Revenues by Geography

6 The Global AI Business Turnover £m and growth Turnover £m 350 4.5% Books 5% 20% 300 Journals Total

14% 250 13% % Growth 200 5% 29% 8% 3% 4% 150 13% 9% 10% 20% 18% 100

50

0 2006 2007 2008 2009 2010 2011

7 Senior Management Team

Roger Horton CEO

Emmett Jeremy Ian Kevin Dages North Bannerman Bradley President Managing Managing President US Director Director UK US Books HSS Books Journals Journals

Christoph Stuart Chesher Dawson Group COO Sales Director

8 Competing Publishers

Publisher Student Research Professional HSS STM Books Journals Learning & Ref Crossover Taylor & Francis (AI)         Wiley/Blackwell         Springer         OUP         Sage         Elsevier         McGraw-Hill         Pearson         Cengage        

AI - wide reach across fragmented market AI - balanced, specialist, content levels AI - quality books and journal content by subject, format and delivery

9 The Books Business

10 AI Books - Resilient

Publish through the knowledge chain

Content quality is king – print, e-books, online are merely the delivery tools

Depth, scale and price setting

Education resilient through the cycle - seasonal not cyclical

Renewable and repeatable revenue streams

Global not local

11 Books – Core Strengths

Market leading brands in humanities, social science, science and technology

Global reach and infrastructure

Digital strategy and production innovation

Deep back catalogue consistently providing 70% of annual book revenue

Strong control of copyright, margins and pricing

Long standing, strong management team

12 Books Revenue by Geography

24%

UK 51% 8% Europe Rest of World 17% North America

13 Book Revenue Growth by Key ROW Territory

35.0% 32.0%

30.0%

25.0%

20.0% 15.0% 14.0% 15.0% 10.0% 8.0% 2011 Growth Rate Growth 2011 10.0%

5.0%

0.0% Japan India Singapore Middle East China Market territory

14 Acquisition Strategy

Bolt-on Strategic Effective way of commissioning new Strengthening of position in key subjects publishing or levels

For example: Including:

• Kogan Page Education (2003) • Routledge (1998) • David Fulton (2006) • CRC Press (2003) • Productivity Press (2007) • Garland Science (1997) • Architecture Press (2011) • Earthscan (2011)

Value created by full integration, creation of scale and close management

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