SECTORWATCH: Digital Agency February 2018 SECTORWATCH

SECTORWATCH: Digital Agency February 2018 SECTORWATCH:

Digital Agency 7 Mile Advisors appreciates the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the February 2018 document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please notify 7 Mile Advisors if it was distributed in error.

. Sector Dashboard

. Public Basket Performance

. Operational Metrics

. Valuation Comparison

. Recent Deals

. Appendix OVERVIEW

Dashboard

summary metrics on the sector, with commentary on About Us market momentum by comparing the most recent 12- 7MA provides Investment Banking & Advisory Services to the month performance against the last 3-year averages Business Services and Technology Industries globally.

We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close knit team with a long history together and a laser focus on our target markets, we Public Basket Performance help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. summary valuation and operating metrics for a basket of comparable public companies

Sectorwatch We publish sectorwatch, a review of M&A and operational trends in the industries we focus. Valuation Comparison

a more graphical, detailed comparison of valuation multiples for the public basket Let us know if we can help Contact us if there are ways we can assist your M&A or financing strategy.

Recent Deals the most recently announced sector deals

Revenue Growth Momentum Median LTM GP Margin % 33.8% 1 - year revenue growth compared to revenue growth -0.08 average for last 3 years Current revenue growth rate is less than the average of the last 3 years, indicating that the market may be flattening or declining Median LTM EBITDA Margin % 17.4% Pricing / Gross Margin Momentum 1 - year gross profit % compared to gross profit % -1.5% average for last 3 years Median LTM Rev. Growth % 2.3% Current gross profit margin is less than the average of the last 3 years gross profit margins, indicating customer pricing power 0% 7% 14% 21% 28% 35%

Profitability Momentum Valuation -0.1% 1 - year EBITDA % compared to EBITDA % average for last 3 years Median Price / LTM Earnings Current EBITDA margin is less than the average of the last 3 years EBITDA 15.3x margins, which may signal further consolidation Median TEV / LTM EBIT 11.1x

PUBLIC BASKET CONSTITUENTS Median TEV / LTM EBITDA 9.5x TSE:2433 NYSE:IPG TSE:4751 TSE:4324 ENXTPA:HAV ENXTPA:PUB Median TEV / LTM Revenue DB:SAX NYSE:OMC 1.5x ENXTPA:DEC LSE:WPP 0x 4x 8x 12x 16x

Rev LTM Rev Growth TEV / Rev TEV / Rev / FTE Company TEV $m $m YoY GP % EBITDA % X EBITDA X # FTEs $k

Hakuhodo DY Holdings Inc 4,696 11,481 4% 20% 4% 0.4 9.5 15,738 730

Ströer SE & Co. KGaA 5,044 1,498 22% 34% 20% 3.2 15.7 4,577 327

CyberAgent, Inc. 5,155 3,398 18% 33% 11% 1.5 14.4 4,416 769

JCDecaux SA 10,038 3,423 2% 32% 17% 2.7 13.1 11,741 292

The Interpublic Group of Companies, Inc. 10,091 7,806 0% 35% 14% 1.3 9.1 49,800 157

Dentsu Inc. 15,939 8,057 0% 94% 18% 1.9 10.2 55,843 144

Publicis Groupe S.A. 18,166 11,207 0% 39% 18% 1.5 8.5 78,913 142

Omnicom Group Inc. 21,558 15,339 0% 18% 15% 1.4 9.3 78,500 195

WPP plc 30,038 19,814 18% 86% 18% 1.4 7.5 134,341 147

Average 13,414 9,114 7% 44% 15% 1.7 10.8 48,208 323

Median 10,091 8,057 2% 34% 17% 1.5 9.5 49,800 195 share price as of 01Feb18

PUBLIC BASKET VALUATION TRENDS 12x

10x 12x 8x

6x 10x 4x 9.7x 2x 8x

Feb-14 Feb-15 Feb-16 Feb-17 Feb-18

Aug-13 Aug-14 Aug-15 Aug-16 Aug-17

Nov-14 Nov-15 Nov-16 Nov-17

6x Nov-13

May-13 May-14 May-15 May-16 May-17

TEV/EBITDA - Median TEV/EBITDA - Average

4x Public Revenue Multiples Over Time 2.0x 2x 1.5x 1.6x

0x 1.2x

0.8x

Feb-14 Feb-15 Feb-16 Feb-17 Feb-18

Aug-16 Aug-13 Aug-14 Aug-15 Aug-17

Nov-16 Nov-13 Nov-14 Nov-15 Nov-17

May-16 May-13 May-14 May-15 May-17

TEV/EBITDA - Median TEV/Revenue - Median 0.4x TEV/EBITDA - Average TEV/Revenue - Average

0.0x

Feb-14 Feb-15 Feb-16 Feb-17 Feb-18

Aug-16 Aug-13 Aug-14 Aug-15 Aug-17

Nov-13 Nov-14 Nov-15 Nov-16 Nov-17

May-13 May-14 May-15 May-16 May-17

TEV/Revenue - Median TEV/Revenue - Average

LTM Revenue Growth % LTM Gross Profit Margin %

Ströer SE & Co. KGaA Dentsu Inc.

WPP plc CyberAgent, Inc.

Publicis Groupe S.A. WPP plc The Interpublic Group of Companies, Inc. Hakuhodo DY Holdings Inc Ströer SE & Co. KGaA JCDecaux SA CyberAgent, Inc. The Interpublic Group of Companies, Inc. JCDecaux SA

Publicis Groupe S.A. Hakuhodo DY Holdings Inc

Omnicom Group Inc. Omnicom Group Inc.

Median Median

(1.0%) 4.0% 9.0% 14.0% 19.0% 24.0% - 20.0% 40.0% 60.0% 80.0% 100.0%

LTM Revenue per Full Time Employee x 000's LTM EBITDA Margin %

Hakuhodo DY Holdings Inc Ströer SE & Co. KGaA

Dentsu Inc. Ströer SE & Co. KGaA

WPP plc JCDecaux SA Publicis Groupe S.A. Omnicom Group Inc. JCDecaux SA The Interpublic Group of Companies, Inc. Omnicom Group Inc.

WPP plc The Interpublic Group of Companies, Inc. Dentsu Inc. CyberAgent, Inc.

Publicis Groupe S.A. Hakuhodo DY Holdings Inc

Median Median

$- $200 $400 $600 $800 - 7.0% 14.0% 21.0%

Accounts Receivable Turnover Average Days Sales Outstanding

Ströer SE & Co. KGaA Publicis Groupe S.A.

The Interpublic Group of CyberAgent, Inc. Companies, Inc.

Hakuhodo DY Holdings Inc WPP plc

JCDecaux SA Omnicom Group Inc.

Omnicom Group Inc. JCDecaux SA

WPP plc Hakuhodo DY Holdings Inc

The Interpublic Group of CyberAgent, Inc. Companies, Inc.

Publicis Groupe S.A. Ströer SE & Co. KGaA

Median Median

0 3 6 9 - 90 180 270 360

TEV / LTM Revenue TEV / LTM EBITDA

Ströer SE & Co. KGaA Ströer SE & Co. KGaA

JCDecaux SA CyberAgent, Inc.

Dentsu Inc. JCDecaux SA

Publicis Groupe S.A. Dentsu Inc.

CyberAgent, Inc. Hakuhodo DY Holdings Inc

Omnicom Group Inc. Omnicom Group Inc.

The Interpublic Group of WPP plc Companies, Inc. The Interpublic Group of Publicis Groupe S.A. Companies, Inc.

Hakuhodo DY Holdings Inc WPP plc

Median Median

0.0x 0.7x 1.4x 2.1x 2.8x 3.5x 0x 3x 6x 9x 12x 15x 18x

TEV / LTM EBIT Price / LTM Earnings

Ströer SE & Co. KGaA CyberAgent, Inc.

JCDecaux SA JCDecaux SA CyberAgent, Inc. Hakuhodo DY Holdings Inc Dentsu Inc.

Hakuhodo DY Holdings Inc Dentsu Inc.

The Interpublic Group of Companies, Inc. Omnicom Group Inc.

Omnicom Group Inc. The Interpublic Group of Companies, Inc. Publicis Groupe S.A. WPP plc WPP plc

Median Median

0x 6x 12x 18x 24x 30x 36x 0x 30x 60x 90x 120x

Historical Valuation Multiples versus Gross Profit Historical Valuation Multiples versus Revenue Growth Rate

18x 94.5% 100% 18x 25% 22.3% 16x 86.3% 90% 16x 80% 18.4% 20% 14x 14x 18.0% 70% 12x 12x 60% 15% 10x 10x 50% 8x 8x 35.3% 40% 10% 32.7% 33.8% 6x 38.7% 6x 30% 32.3% 2.3% 0.1% 4x 20% 4x 4.1% 5% 18.1% 20.0% 2x 10% 2x 0.4% 0.1% -

7x 9x 9x 9x 9x 10x 13x 14x 16x 7x 9x 9x 9x 9x 10x 13x 14x 16x

EBITDA(x)

EBITDA(x) LTM GP% LTM

0x 0% 0x 0% RGR% LTM

EBITDA(x) LTM GP% EBITDA(x) LTM RGR%

24Jan18 Harte Hanks, Inc. Wipro LLC 9.90 394.15 - - 3Jan18 HelloWorld, Inc. (nka:HelloWorld, A Merkle Merkle Inc. - 53.00 - - Company) 18Dec17 ARBA Holdings Ltd. Ogilvy & Mather Inc. - 2.21 - - 14Dec17 Rothco Limited Accenture plc - - - - 11Dec17 Diamond Marketing Solutions Group, Inc. Output Services Group, Inc. - - - -

22Nov17 Oxyma Group B.V. Merkle Inc. - - - -

26Oct17 Zone Ltd Cognizant Technology Solutions Corporation - - - -

24Oct17 Netcentric AG Cognizant Technology Solutions Corporation - - - - 4Oct17 Vivant Digital Pty Ltd IBM Interactive Experience - - - -

29Sep17 Telepathy ServiceNow, Inc. - - - -

20Sep17 Pierry, Inc. Wunderman Limited - 14.50 - - 6Sep17 Cogint, Inc. BlueFocus International Marketing Portfolio - 210.16 - -

7Sep17 TandemSeven, Inc. Genpact Limited - - - - 7Sep17 Delphic, a Hero Digital Company, LLC HERO Digital LLC - - - - 29Aug17 DIS/PLAY A/S AKQA Inc. - 16.98 - - 22Aug17 Summa Technologies, Inc. CGI Group Inc. - - - - 9Aug17 Wire Stone, LLC Accenture plc - - - - 3Aug17 Brilliant Basics Ltd. Infosys Limited 9.74 - - - 31Jul17 Search Technologies Corp. Accenture plc - - - -

27Jul17 Sokrati Technologies Pvt Ltd (nka:Merkle Sokrati) Dentsu Aegis Network Ltd. - 3.51 - - 20Jul17 TigerSpike Pty. Ltd. Concentrix Corporation - - - - 12Jul17 Clearhead Group LLC Accenture plc - - - - 6Jul17 TNG, Inc. Point B, Inc. - - - - 28Jun17 Intrepid Pursuits, LLC Accenture plc - - - -

1Jun17 PointSource, LLC Globant S.A. 28.00 - - -

Date Target Buyer Total Transaction Value Target Revenue TEV / Revenue TEV / EBITDA

3Apr17 Blue Acorn, LLC Beringer Capital; Beringer Capital Fund III - - - - L.P. 23Mar17 ITELIOS SAS Cap Gemini S.A. (nka:Capgemini SE) - - - - 1Mar17 Brilliantservice Co.,Ltd. Cognizant Technology Solutions Corporation - - - - 28Feb17 Ratio Globant S.A. 10.80 - - - 16Feb17 Idean Enterprises Oy Cap Gemini S.A. (nka:Capgemini SE) - - - -

13Feb17 RDM Corporation 10087220 Canada Corp. 98.49 21.24 3.2x 11.7x 24Jan17 Sequence LLC Salesforce.com, inc. - - - - 17Jan17 Coders Center sp. z o.o. SoftServe, Inc. - - - -

Appendix: Public Basket Constituents Revenue Multiples - Hakuhodo DY Holdings Inc PUBLIC BASKET CONSTITUENTS 0.5x 0.4x Hakuhodo DY Holdings Inc 0.3x 0.2x Hakuhodo DY Holdings Inc., through its subsidiaries, engages in the 0.1x provision of marketing and communications services to advertisers, 0.0x media companies, and content holders in Japan and internationally. It offers planning, production, marketing, public relations, and other services related to the presentation of advertising in various media, such as newspapers, magazines, radio, television, and digital media. TEV/Revenue Average The company also provides brand development, brand building, sales promotion, and customer management services, as well as plans EBITDA Multiples - Hakuhodo DY Holdings Inc animation programs and live events. In addition, it is involved in 12x planning, production, buying, and media traffic in media and contents 10x businesses, as well as acts as liaison for the advertising companies. 8x Hakuhodo DY Holdings Inc. was founded in 2003 and is headquartered 6x in Tokyo, Japan. 4x 2x 0x

TEV/EBITDA Average

P/E Multiples - Hakuhodo DY Holdings Inc 40x 32x 24x 16x 8x 0x

P/E Average 16 All Rights Reserved to 7 Mile Advisors Revenue Multiples - CyberAgent, Inc. PUBLIC BASKET CONSTITUENTS 2.5x 2.0x CyberAgent, Inc. 1.5x 1.0x CyberAgent, Inc. engages in the media, Internet, game, and investment 0.5x development businesses in Japan. The company offers a range of 0.0x services, such as Internet TV station, blog, online dating, etc.; Internet advertising agency and ad technology services; and smartphone games. It also operates a programming school for kids; and provides application development, reward points exchange platform, and Web TEV/Revenue Average magazine services. The company was founded in 1998 and is headquartered in Tokyo, Japan. EBITDA Multiples - CyberAgent, Inc. 20 16 Date Key Development Headline 12 9/21/17 CyberAgent, Inc. (TSE:4751) acquired DDT Pro Wrestling 8 Co., Ltd. 4 0

TEV/EBITDA Average

P/E Multiples - CyberAgent, Inc. 160 140 120 100 80 60 40 20 0

P/E Average 17 All Rights Reserved to 7 Mile Advisors Revenue Multiples - Ströer SE & Co. KGaA PUBLIC BASKET CONSTITUENTS 6 Ströer SE & Co. KGaA 4 2 Ströer SE & Co. KGaA provides out-of-home and online advertising services in Germany, Turkey, and internationally. The company 0 operates through three segments: Ströer Digital, Out-of-Home Germany, and Out-of-Home International. Its out-of-home advertising solutions covers various forms of outdoor advertising media, such as traditional posters; advertisements at bus and tram stop shelters, and TEV/Revenue Average on public transport; and digital and interactive solutions. The company markets approximately 300,000 outdoor advertising spaces. It also EBITDA Multiples - Ströer SE & Co. KGaA offers digital advertising on the Internet and on mobile devices, as well 30 as in public spaces as a public video network. The company operates 25 approximately 1,000 Websites. It serves regional and national 20 advertisers, media agencies, and media specialists. The company was 15 formerly known as Ströer SE. Ströer SE & Co. KGaA is headquartered 10 in Cologne, Germany. 5 0 Date Key Development Headline 11/30/17 Ströer SE & Co. KGaA (DB:SAX) agreed to acquire Neo Advertising GmbH. TEV/EBITDA Average 11/22/17 Zur Rose Group AG (SWX:ROSE) agreed to acquire Vitalsana B.V. from Ströer SE & Co. KGaA (DB:SAX)/ P/E Multiples - Ströer SE & Co. KGaA 300 10/16/17 Ströer SE & Co. KGaA (DB:SAX) acquired a majority stake 250 in UAM Media Group GmbH. 200 10/3/17 Ströer SE & Co. KGaA (DB:SAX) acquired majority stake in 150 Yieldlove GmbH. 100 8/9/17 Ströer SE & Co. KGaA (DB:SAX) acquired an additional 50 25% stake in Permodo GmbH for €23 million. 0

P/E Average 18 All Rights Reserved to 7 Mile Advisors Revenue Multiples - JCDecaux SA PUBLIC BASKET CONSTITUENTS 5.0 4.0 JCDecaux SA 3.0 2.0 JCDecaux SA, together with its subsidiaries, engages in outdoor 1.0 advertising activities worldwide. The company operates in three 0.0 segments: Street Furniture, Transport, and Billboard. The Street Furniture segment is involved in advertising in shopping malls; renting street furniture; selling and renting equipment; and the provision of TEV/Revenue Average cleaning, maintenance, and other services. The company was founded in 1964 and is based in Plaisir, France. JCDecaux SA is a subsidiary of JCDecaux Holding SA. EBITDA Multiples - JCDecaux SA 20

Date Key Development Headline 10 6/27/17 América Móvil, S.A.B. de C.V. Enters into Joint Venture with JCDecaux SA 5 0 6/26/17 JCD Out Of Home Mexico, S.A. de C.V. agreed to acquire Eumex, S.A. de C.V. from JCDecaux SA (ENXTPA:DEC) and others. TEV/EBITDA Average 3/2/17 JCDecaux Mulls Investments

2/13/17 Cellnex Telecom and JCDecaux Signs Agreement to P/E Multiples - JCDecaux SA Accelerate the Rollout of New Mobile Broadband Networks 120 100 12/22/16 JCDecaux SA (ENXTPA:DEC) signed an agreement to 80 acquire Top Media Holdings S.A. 60 40 20 0

P/E Average 19 All Rights Reserved to 7 Mile Advisors Revenue Multiples - The Interpublic Group of PUBLIC BASKET CONSTITUENTS 2.5 Companies, Inc. 2.0 The Interpublic Group of Companies, Inc. 1.5 1.0 The Interpublic Group of Companies, Inc. provides advertising and 0.5 marketing services worldwide. The company operates through two 0.0 segments, Integrated Agency Networks and Constituency Management Group. It offers consumer advertising, digital marketing, communications planning and media buying, public relations, and specialized communications disciplines. The company also provides TEV/Revenue Average various diversified services, including public relations, meeting and event production, sports and entertainment marketing, corporate and EBITDA Multiples - The Interpublic Group of brand identity, and strategic marketing consulting. It offers its services 18 Companies, Inc. under various brands comprising McCann, MullenLowe, IPG 15 Mediabrands, Carmichael Lynch, Deutsch, Hill Holliday, and The Martin 12 Agency, as well as Foote, Cone & Belding. The company was formerly 9 known as McCann-Erickson Incorporated and changed its name to The 6 Interpublic Group of Companies, Inc. in January 1961. The Interpublic Group of Companies, Inc. was founded in 1902 and is headquartered in 3 New York, New York. 0

Date Key Development Headline TEV/EBITDA Average 5/3/17 Management team led by Chief Executive Officer Becca Weigman acquired TM Advertising LP from The Interpublic Group of Companies, Inc. (NYSE:IPG). P/E Multiples - The Interpublic Group of 40 Companies, Inc. 2/10/17 The Interpublic Group of Companies Seeks Acquisitions 35 30 25 20 15 10 5 0

P/E Average 20 All Rights Reserved to 7 Mile Advisors Revenue Multiples - Dentsu Inc. 6.0 PUBLIC BASKET CONSTITUENTS 5.0 4.0 Dentsu Inc. 3.0 2.0 Dentsu Inc. provides advertising services in Japan and internationally. 1.0 The company offers advertising through media, including newspapers, 0.0 magazines, radio, television, Internet, sales promotion, movies, outdoor events, public transportation, and others; and event marketing, marketing, public relations, contents, related creative, and other TEV/Revenue Average services to its clients. It also provides information services and information-related products; and other services, such as office rental, building maintenance, and computation fiduciary services. The EBITDA Multiples - Dentsu Inc. company offers services through its network brands comprising Carat, 24 Dentsu Brand Agencies, dentsu X, iProspect, Isobar, Dentsu McGarry 21 Bowen, MKTG, Posterscope, and Vizeum, as well as 18 15 specialist/multimarket brands, such as Amnet, Amplifi, Data2Decisions, 12 Mitchell Communications Group, and 360i. Dentsu Inc. was founded in 9 1901 and is headquartered in Tokyo, Japan. 6 3 0

Date Key Development Headline

12/5/17 Dentsu Inc. (TSE:4324) entered into an agreement to TEV/EBITDA Average acquire Swirl, Inc. 7/26/17 Rakuten and Dentsu Establish Rakuten Data Marketing P/E Multiples - Dentsu Inc. Co.,Ltd, a New Company 60 50 6/8/17 Dentsu Inc. (TSE:4324) acquired unknown minority stake in 40 Tranzax Co., Ltd. 30 5/23/17 6 Japanese Media Firms to Start Joint Online Video 20 Service 10 3/24/17 Dentsu Inc. and Evolable Asia Co., Ltd. to Invest in 0 Vietnam to Establish New Company Dentsu Techno Camp Co., Ltd P/E Average 21 All Rights Reserved to 7 Mile Advisors Revenue Multiples - Publicis Groupe S.A. PUBLIC BASKET CONSTITUENTS 2.5 2.0 Publicis Groupe S.A. 1.5 1.0 Publicis Groupe S.A. provides marketing, communication, and digital 0.5 transformation services worldwide. It offers creative solutions, such as 0.0 direct marketing, customer relationship management, sales promotion and point-of-sale marketing, public relations, corporate and financial communication, events communication, and multicultural or ethnic TEV/Revenue Average communication services, as well as engages in the video production and broadcast business. The company also provides media consulting/media planning and media buying services. In addition, it is EBITDA Multiples - Publicis Groupe S.A. involved in the creation of corporate or commercial Websites and 14 intranets, online direct marketing consulting, social network expertise, 12 search engine optimization, Internet ads, and all forms of Internet and 10 mobile communication; and provision of communications in the areas of 8 healthcare and well-being under the Digitas Health and Publicis Health 6 4 Media brands. The company serves clients in consumer goods, finance, 2 automobile, TMT, healthcare, food and beverage, leisure/energy/luxury, 0 retail, and other sectors. Publicis Groupe S.A. was founded in 1926 and is headquartered in Paris, France.

TEV/EBITDA Average Date Key Development Headline 10/2/17 Publicis Groupe S.A. (ENXTPA:PUB) agreed to acquire P/E Multiples - Publicis Groupe S.A. Ella Factory. 30 25 7/20/17 Publicis Groupe Seeks Acquisitions 20 2/9/17 Publicis Eyes Acquisitions 15 10 1/30/17 Publicis Groupe S.A. (ENXTPA:PUB) acquired a certain 5 stake in MetaDesign AG. 0

P/E Average

Omnicom Group Inc. 1.0

Omnicom Group Inc., together with its subsidiaries, provides 0.5 advertising, marketing, and corporate communications services. The 0.0 company offers a range of services in the areas of advertising, customer relationship management, or CRM, public relations, and specialty communications. Its services comprise advertising, brand TEV/Revenue Average consultancy, content marketing, corporate social responsibility consulting, crisis communication, custom publishing, data analytics, database management, environmental design, financial/corporate EBITDA Multiples - Omnicom Group Inc. business-to-business advertising, graphic arts/digital imaging, 16 healthcare communications, and instore design services. The company’s services also include direct, entertainment, experiential, and 12 field, interactive, mobile, multi-cultural, non-profit, promotional, retail, 8 search engine, social media, and sports and event marketing services; and investor relations, marketing research, media planning and buying, 4 organizational communications, package design, product placement, 0 public affairs, public relations, and reputation consulting services. It operates in North America, Latin America, Europe, the Middle East, Africa, Australia, China, India, Japan, Korea, New Zealand, Singapore, TEV/EBITDA Average and other Asian countries. Omnicom Group Inc. was founded in 1944 and is based in New York, New York. P/E Multiples - Omnicom Group Inc. 30 Date Key Development Headline 25 10/17/17 Omnicom Seeks Acquisitions 20 7/20/17 Omnicom Looking For Acquisitions 15 2/7/17 Omnicom Mulls Acquisitions 10 5 0

P/E Average

23 All Rights Reserved to 7 Mile Advisors Revenue Multiples - WPP plc PUBLIC BASKET CONSTITUENTS 3.0 2.5 2.0 WPP plc 1.5 1.0 WPP plc provides various communications services worldwide. The company operates through four segments: Advertising and Media 0.5 Investment Management; Data Investment Management; Public 0.0 Relations & Public Affairs; and Branding & Identity, Healthcare and Specialist Communications. The Advertising and Media Investment Management segment provides advertising services; and media TEV/Revenue Average planning and buying, and specialist sponsorship, and branded entertainment services. The Data Investment Management segment EBITDA Multiples - WPP plc offers brand, consumer, media, and marketplace insight services. WPP 18 plc was founded in 1985 and is based in London, the United Kingdom. 15 12 Date Key Development Headline 9 8/22/17 WPP plc (LSE:WPP) acquired Design Bridge Ltd. 6 3 7/19/17 WPP plc (LSE:WPP) acquired majority stake in Extreme Sensio. 0 7/12/17 WPP plc (LSE:WPP) agreed to acquire Thjnk AG. 4/11/17 M&G Real Estate acquired Rose Court, 2 Southwark TEV/EBITDA Average Bridge Road, London from WPP plc (LSE:WPP) for £190 million, in a sale and leaseback transaction. P/E Multiples - WPP plc 35 3/3/17 WPP plc Seeks Strategic Acquisitions 30 25 2/27/17 WPP plc (LSE:WPP) completed the acquisition of Rose 20 Court, 2 Southwark Bridge Road, London from Grandiose 15 Investments Pte. Ltd. 10 2/7/17 A Guernsey based property unit trust entered into an 5 agreement to acquire Rose Court, 2 Southwark Bridge 0 Road, London from Grandiose Investments Pte. Ltd. for £94.5 million. P/E Average

7MA provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. We advise on M&A and private capital transactions, and provide market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, we help our clients sell their companies, raise capital, grow through acquisitions, and evaluate new markets. Securities offered through 7M Securities LLC. Leroy Davis, Partner 704.899.5962 [email protected] Tripp Davis, Partner 704.899.5762 [email protected] Andy Johnston, Partner 704.899.5961 [email protected] Tom Dinnegan, Managing Director 310. 426.2410 [email protected] Ben Lunka, Managing Director 704.496.2995 [email protected] Jeff Stoecklein, Managing Director 312-373-3737 [email protected] Kristina Sergueeva, Director 704.899.5149 [email protected] Neil Churman, Director 704.899.5960 x 121 [email protected] John Cooper, Director 704.973.3996 [email protected] Tim Frye, Director 704.973.3994 [email protected] Casey Augustine, Business Development - Manager 704.973.3999 [email protected] Nicholas Prendergast, Financial Analyst 704.899.5960 [email protected] Ariail Siggins, Marketing Director 704.899.5960 x 123 [email protected] Rory Julyan, Associate 704.899.5960 [email protected] Chevonese Dacres, Analyst 360.499.1502 [email protected] Charlotte | Los Angeles | Tampa | Houston | Chicago