Nine Month Trading Update

EUROMONEY INSTITUTIONAL INVESTOR PLC

Nine Month Trading Update

Stronger-than-expected Q3 performance

Q3 Group revenue up 52% year on year

18 July 2022

Euromoney Institutional Investor PLC ("Euromoney" or the "Group"), the global B2B information services provider, today announces a trading update for the nine months ended 30 June 2022.

Highlights:

Revenue by type

Trading overview:

Fastmarkets

Financial & Professional Services (FPS)

Asset Management

Balance sheet

Euromoney's financial position remains strong with net cash at 30 June 2022 of £39.1m.

Summary and outlook

We delivered a stronger-than-expected Q3 performance; continued growth in subscriptions was accompanied by high demand for a number of our largest events of the year. Taking into account the Q3 performance, we now expect the results for FY 2022 to be ahead of the Board's previous expectations4.

Footnotes:

1 Underlying measures are the adjusted results stated at constant exchange rates, including pro forma prior-year comparatives for acquisitions and excluding disposals and significant event and publication timing differences including pro forma prior-year adjustments for the application of new accounting standards that are not applied retrospectively.

2 Adjusted operating margin. Adjusted measures exclude the impact of the amortisation of acquired intangible assets, exceptional items and other adjusting items in accordance with the Group's policy.

3 Book of business (BoB) is the annual contracted values for subscriptions. Like-for-like growth is calculated by adjusting prior periods with a constant GBP/USD rate and the proforma impact of net M&A.

4 For the purposes of the Rule 28 of the Takeover Code this statement constitutes a profit forecast. See Appendix for a confirmation from the Directors of Euromoney in relation to this profit forecast.

For further information, please contact:

Euromoney Institutional Investor PLC

Wendy Pallot, Chief Financial Officer: +44 (0)20 7779 8866; [email protected]

Christian Cowley, Investor Relations: +44 (0)7408 863420; [email protected]

FTI Consulting

Jamie Ricketts / Tom Blundell / Lucy Highland: +44 (0)20 3727 1000; [email protected]

About Euromoney Institutional Investor PLC 

Euromoney Institutional Investor PLC ("Euromoney") is a global B2B information-services business. We provide actionable data, analysis, intelligence and access through three divisions in markets where information and convening market participants are valued. Euromoney is listed on the London Stock Exchange and is a member of the FTSE 250 share index. (euromoneyplc.com)

LEI Number: 213800PZU2RGHMHE2S67

Appendix - Confirmation by Euromoney Directors

On 19 May 2022, Euromoney released its interim results for the first half of FY 2022 which included guidance for FY 2022 comprising "double-digit underlying revenue growth" and "an increase in adjusted operating profit margin", in each case versus FY 2021 (the "Euromoney 2022 Profit Forecast").

Today's Q3 trading update for FY 2022 includes the statement "We delivered a stronger-than-expected Q3 performance; continued growth in subscriptions was accompanied by high demand for a number of our largest events of the year. Taking into account the Q3 performance, we now expect the results for FY 2022 to be ahead of the Board's previous expectations." (the "Euromoney Q3 Trading Update FY 2022").

The Euromoney 2022 Profit Forecast was originally published before the start of an offer period in relation to the Group, accordingly, under Note 2(a) to Rule 28.1 of the City Code on Takeovers and Mergers (the "Code") the requirements of Rule 28.1(c) apply in relation to the Euromoney 2022 Profit Forecast. The Euromoney Q3 Trading Update FY 2022 has been published during an offer period in relation to the Group, accordingly, under Note 2(b) to Rule 28.1 of the Code the requirements of Rule 28.1(c) apply in relation to the Euromoney Q3 Trading Update FY 2022.

The Euromoney Directors have considered the Euromoney 2022 Profit Forecast and the Euromoney Q3 Trading Update FY 2022 and confirm that they are valid as at the date of this announcement and have been properly compiled on the basis of the assumptions set out below and that the basis of the accounting used is consistent with Euromoney's accounting policies.

The basis of preparation used by the Euromoney Directors in making the Euromoney 2022 Profit Forecast and Euromoney Q3 Trading Update FY 2022 included the following sources of financial information: (i) the unaudited half year results for the six-month period ended 31 March 2022; (ii) the unaudited management accounts for the three-month period ended 30 June 2022 and (iii) an internal unpublished forecast for the period ending 30 September 2022 constituting the remainder of the current financial year.

The Euromoney 2022 Profit Forecast and Euromoney Q3 Trading Update FY2022 (the "Statements") were prepared on the basis of the following principal assumptions, any of which could turn out to be incorrect and therefore affect the validity of the Statements:

Factors beyond the Company's control and influence:

· There will be no adverse change to current prevailing global macroeconomic and political conditions (including any geopolitical tension, further escalation of conflict or war in or affecting areas where the Group generates its revenues or where its key customers are based (or any sanctions imposed in response to any such events)) which is material in the context of the Statements.

· The rate at which the Group's customers renew or cancel subscriptions will not materially change from the level or manner assumed by the Group's estimates for the forecast period which is material in the context of the Statements.

· There will be no unanticipated change in interest rates or inflationary pressures compared to the Group's estimates, which could adversely affect the Group's target customers' budgeted expenditure on the Group's products and events or which impacts the Group's cost base, including its supply chain, marketing spend or other expenses and which is material in the context of the Statements.

· There will be no change in the legislation or regulation impacting on the Group's operations or the accounting policies and standards to which it is subject which is material in the context of the Statements.

· There will be no business disruptions that materially affect the Group or its key markets/ customers, including as a result of any natural disaster, act of terrorism, cyber-attack, global governmental responses to Covid-19 (particularly as this relates to the Group's ability to organise events) and/or widespread technology disruption issue.

· There will be no material movements in foreign exchange rates compared with the Group's estimates not mitigated by current hedging arrangements.

· There will be no litigation, contractual dispute or regulatory action which is material in the context of the Group.

Factors within the Company's control and influence:

· No significant acquisitions, disposals, developments, corporate partnerships or joint venture agreements will be entered into by the Group and no existing corporate partnerships or joint venture agreements will be terminated or amended, in each case, which have an adverse impact on the Group's income or expenditure which is material in the context of the Statements.

· The Group's accounting policies will be consistently applied over the forecast period to 30 September 2022 so far as is material to the Statements.

· No material change in the present management or control of the Group or its existing operational strategy during the period to 30 September 2022.

CAUTIONARY STATEMENT

This Trading Update ("Statement") and all information included in it is based on the knowledge and information available to the Board of Directors at the date it was prepared and therefore facts stated and views expressed may change after that date.

This document and any materials distributed in connection with it may include forward-looking statements, beliefs, opinions or statements concerning risks and uncertainties, including statements with respect to the Group's business, financial condition and results of operations. Those statements and statements which contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, reflect the Company's Directors' beliefs and expectations and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and which may cause results and developments to differ materially from those expressed or implied by those statements and forecasts. No representation is made that any of those statements or forecasts will come to pass or that any forecast results will be achieved. You are cautioned not to place any reliance on such statements or forecasts. Those forward-looking and other statements speak only as at the date of this Statement. The Group undertakes no obligation to release any update of, or revisions to, any forward-looking statements, opinions (which are subject to change without notice) or any other information or statement contained in this Statement. Furthermore, past performance of the Group cannot be relied on as a guide to future performance.

Except for the Statements, no statement in this document is intended as a profit forecast. No statement in this document is intended as a profit estimate and no statement in this document should be interpreted to mean that earnings per Euromoney Institutional Investor PLC share for the current or future financial years would necessarily match or exceed the historical published earnings per Euromoney Institutional Investor PLC share.

Nothing in this document is intended to constitute an invitation or inducement to engage in investment activity. This document does not constitute or form part of any offer for sale or subscription of, or any solicitation of any offer to purchase or subscribe for, any securities nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto. This document does not constitute a recommendation regarding any securities.