First’ UBM plc UBM Annual Report and 2015 Accounts ‘Events

‘Events First’ UBM plc Annual Report and Accounts 2015 Strategic Report Financial Statements  pg 04-05  pg 06-07 Overview¹ 87 Independent auditor’s report 02 2015 Highlights to the members of UBM plc 04 Chairman’s Statement 94 Consolidated income statement 06 UBM’s Key Strengths 95 Consolidated statement 08 Business Model of comprehensive income 96 Consolidated statement Strategic Report¹ of financial position Chairman’s Statement UBM’s Key Strengths

Strategic Report 97 Consolidated statement Business Model: 12 Chief Executive’s Statement How we Create and Enhance Value of changes in equity  16 Strategic Priorities and KPIs A virtuous circle By delivering value 98 Consolidated statement to our customers, UBM creates financial returns 28 Sustainability Leadership which are then used to further enhance our of cash flows overall value proposition  33 Risk Management pg 08-11 pg 12-27

Resour ces 99 Section 1: Basis of preparation and r ela ti on ends Events s ivid bra h 35 Principal Risks D nds ip s O t S he ns e r o rv M ti Va i i lu ce a 102 Section 2: Segment information is e s rk u C e q re b t c a ra in A s ti n g n o d r n s tu e R s t n e O m t u s r

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r a t o i o a t s n t t a s i h e l o u f e n m r c o e r h w t c u i 38 Operating Review n O w a O h 120 Section 5: Capital structure A u n tt tc E ra o e c m lu t e a r iv V to g e c in p e d r s n o r ta ta f u s a ta O er d b d d il n n 41 CFO Financial Review ity u a Q al and financial policy ua tion l ity r terna evenu Our in rint es footp 131 Section 6: Acquisitions and disposals (1) This model excludes PRN (for details about PRN disposal see pages 2, 40 and 41). 137 Section 7: Employee benefits 08 BusinessUBM Annual Report and Accounts 2015 Model Chief Executive’s Governance Report 143 Section 8: Other notes Statement 150 Additional Information 48 Board of Directors 151 Parent Company profit and  pg 41-47  pg 48-85 50 Executive Committee loss account 52 Corporate Governance Statement 152 Parent Company balance sheet 60 Nominations Committee 153 Notes to the Parent Company 61 Audit Committee financial statements 64 Directors’ Remuneration Report 159 Glossary: Explanation of 82 Directors’ Report UBM’s non-IFRS measures 160 Shareholder information IBC Financial calendar 2016 CFO Financial Review Governance Report IBC Cautionary statement

Cross linking The Board, has assessed this report and considers it, taken as a whole, as fair, balanced Throughout this document we have linked and understandable. content together in order to provide a more coherent and integrated report.

Inside the Strategic Report, Governance Report and Financial Statements

Online at www.ubm.com/ar2015

1 These sections, taken together, comprise the Strategic Report in accordance with the (UK) Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 Throughout this document, non-IFRS measures are noted with an (*) and additional information on these measures is set out on page 159. Strategic Report

UBM is one of the world’s leading business-to-business Governance Report (B2B) events organisers We create vibrant and

dynamic events, enriched Financial Statements with digital and print media. Our events allow our customers to make connections and do business efficiently and effectively

‘Events First’ in action In December 2015 we announced the strategically significant step to dispose of PR Newswire (PRN)

This is our first full year reporting following the launch of our ‘Events First’ strategy Strategic Report pg 02-47

UBM Annual Report and Accounts 2015 01 Strategic Report 2015 Highlights

  Strategic Financial UBM has made Our reported results are impacted significant progress by the proposed disposal of PR Newswire (PRN) pg 41 during 2015 Total Group Continuing Group1

ĥĥ Announced disposal of PRN in December Revenue Revenue ĥĥ Advanstar acquisition performing well ĥĥ 2015 Advanstar revenues +3.0% ĥĥ Integration on track £974.6m £769.9m ĥĥ 2014: £746.3m ĥĥ 2014: £550.5m ĥĥ Synergies ahead of schedule

ĥ ĥ Enhanced portfolio Underlying revenue growth* Underlying revenue growth* ĥĥ Three Event acquisitions ĥĥ £21.8m Events discontinued or sold ĥĥ £12.6m Other Marketing Services (OMS) discontinued -1.5% -2.0%

ĥĥ Improving data quality for enhanced Underlying revenue growth* Underlying revenue growth* customer insight adjusted for rationalisation adjusted for rationalisation ĥĥ Launched Sales Excellence initiative ĥĥ Saved £1.5m through procurement ĥĥ Laid foundations for enhanced common +1.7% +2.2% global Customer Relationship Management (CRM) system ĥĥ Tied incentives to strategic KPIs Adjusted operating profit margin* Adjusted operating profit margin*

pg 12 25.2% 25.6% ĥĥ 2014: 24.1% ĥĥ 2014: 24.5%  Fully diluted adjusted EPS* Fully diluted adjusted EPS* PRN disposal On 15 December 2015 40.5p 30.3p ĥĥ 2014: 38.2p ĥĥ 2014: 25.4p UBM announced the strategically significant step to dispose of PRN Cash generated from operations

ĥĥ Total sale price: $841m – $810m cash and $31m of preferred equity £271.9m ĥĥ 2014: £169.8m ĥĥ Return to shareholders: £245m ĥĥ PRN discontinued in 2015 accounts ĥĥ 2015 PRN Revenue: £204.7m ROACE* ĥĥ 2015 PRN EBITA: £48.4m What does this mean for UBM? 14.5% ĥĥ Increased focus on Events ĥĥ 2014: 13.3% ĥĥ Faster growth ĥĥ Improved margin 1 Excludes PRN (for details about PRN disposal see left and pages 40 and 41) ĥĥ Balance sheet flexibility to undertake * All non-IFRS measures are noted with an ‘*’ and additional information on these measures is set out on page 159 bolt-on acquisitions

pg 41

02 UBM Annual Report and Accounts 2015 Strategic Report Governance Report Financial Statements

UBM Annual Report and Accounts 2015 03 Strategic Report Chairman’s Statement

 Dear Shareholder 2015 has been a strategically significant year for UBM. It culminated with the proposed disposal of PRN. The focus on Events will make UBM the leading ‘pure play’ B2B events organiser in the world We have continued to make good progress position, providing funds to allow us to with our ‘Events First’ strategy, integrated pursue further value-accretive bolt-on the sizeable Advanstar acquisition and, acquisitions. at the end of the year, announced the strategically important step to dispose of Board changes PRN to create a focused Events business. I would like to take this opportunity to thank Robert Gray warmly for his significant Strategic progress contribution to UBM. Since joining as Events are a highly attractive, growing CFO in 2009, Robert played a key role sector in which UBM already enjoys one in helping to steer the Company through of the leading global positions. We are its transformation into a focused events optimistic about the opportunity that our company. He took on the role of Acting ‘Events First’ strategy represents. The Chief CEO for some weeks early in the year, and Executive’s Statement (on page 12) details on 31 July 2015 stepped down from the Dame Helen Alexander progress on the implementation of our Board to become CEO of PRN; he led the Chairman strategy and its impact on the business. business through the auction process to the successful disposal announcement. PR Newswire disposal We wish him well for the future. In We have, over the years, received September 2015, Marina Wyatt joined expressions of interest in PRN from various us as Chief Financial Officer and as an parties. With the Group’s ‘Events First’ Executive Director. stra