Annual Report and Accounts 2025

Growth

Compounding

GS F

Growth

Compounding

Strategic Report

About Informa

Informa at a glance 2

Investment case 9

Business model 10

Chair’s introduction 12

Review of the year

Group Chief Executive’s review 14

Key performance indicators 20

Strategy 22

Year in review 23

Business and financial review

B2B Live Events 34

B2B Digital Services 40

Academic Markets 44

Group Finance Director’s review 48

Financial review 50

Risk report

Introduction to risk 60

How we manage risk 62

Principal risks and uncertainties 64

Other Strategic Report information

Viability statement 71

Task Force on Climate-related

Financial Disclosures report 73

Non-financial and sustainability

information statement 77

Governance

Informa’s Board

Board of Directors 79

Board review and activity

Chair’s introduction to governance 82

The Board’s year 84

Section 172 statement 88

Compliance with the Code 92

Committee Reports

Nomination Committee Report 95

Audit Committee Report 99

Directors’ Remuneration Report 109

Other governance information

Directors’ Report 124

Statement of Directors’ responsibilities 126

Financial Statements

Independent auditors’ report 128

Consolidated Financial Statements

Consolidated Income Statement 136

Consolidated Statement

of Comprehensive Income 137

Consolidated Statement

of Changes in Equity 138

Consolidated Balance Sheet 139

Consolidated Cash Flow Statement 140

Notes to the Consolidated

Financial Statements 141

Parent Company Financial Statements

Parent Company Balance Sheet 211

Parent Company Statement

of Changes in Equity 212

Notes to the Parent Company

Financial Statements 213

Other financial information

Glossary of terms: alternative

performance measures 220

Five-year summary 222

Additional Information

Shareholder information 223

Advisers 224

Get to know

Informa

Informa at a glance,

pages 2 to 9

See our key

developments

from 2025

Year in review, pages

23 to 34

Follow the Board’s

activities from

the year

The Board’s year,

pages 84 to 87

We include International Financial

Reporting Standards (IFRS) and

alternative performance measures

in this report.

Alternative performance measures

are defined in the glossary onpages

220 and 221 and marked with an

asterisk thefirst time they are used.

This Strategic Report was approved

by the Board on 11 March 2026 and

signed on its behalf by:

Rupert Hopley

Company Secretary,

by order of the Board

This Annual Report and Accounts isatthe centre of our reporting to

shareholders and other stakeholders.

We make supplementary information available for anyone who would like

toexplore further. Head to our Review of 2025 microsite for extra detail

andvideo content by following the links and QRcodes in this report.

TheInforma website is also home to other reports in our wider suite,

including the 2025 Sustainability Report and our Climate Impacts Report.

Stay up to date with

more information at

informa.com

Informa Annual Report and Accounts 2025

Strategic Report G F A

B2B Live Events:

Informa Markets

Transaction-led B2Bevents

Informa Connect

Content-led B2Bevents

Informa Festivals

Experience-led B2Bevents

B2B Digital Services:

Informa TechTarget

B2B data and marketaccess

Academic Markets:

Academic research, advanced

learning andopen research

Informa at a glance

Informa is a leading international business-to-business

events, digital services and academic publishing group.

We champion specialists: connecting businesses and

professionals with knowledge to help them learn more,

know more and do more.

We have five operating divisions

Offices in

30+ countries

Customers in

150+ countries

Colleagues

14,000

We operate through

800+ brands

Revenue

Strategic Report

Informa Annual Report and Accounts 2025

Continued

growth

Group revenues

£4,041m

2024: £3,553m

Underlying

revenue growth*

6.3%

2024: 11.6%

Adjusted

operating profit*

£1,140m

2024: £995m

Adjusted diluted

earnings per share*

55.6p

2024: 50.1p

Financial

strength

Free cash flow*

£885m

2024: £812m

Operating cash

flow conversion*

106%

2024: 104%

Informa leverage*

2.4x

2024: 2.6x

Dividend per

22.0p

2024: 20.0p

2025 highlights

Delivering

for customers

Net promoter

score for top 50

Informa Markets

brands

Delivering

for colleagues

Roles filled

internally

44%

Delivering

for shareholders

Share buyback

in 2025

£352m

Sustainable

eventsprogress

Brands accredited

in the Sustainable

Event Fundamentals

468

Informa Annual Report and Accounts 2025

Strategic Report G F A

international

Informa is a highly international business. We work in all

theworld’s major regions – including the US,IMEA (India, the

Middle East and Africa), Europe, ChinaandSouth East Asia –

and in many of the world’s fastest-growing hubs for business

–including Mumbai, Miami, Bangkok, Riyadh,Dubaiand Cairo.

We have local experts on the ground,

with colleagues in around 30 countries,

and strong partnerships with local

governments, institutions, suppliers

and other businesses.

This means we can serve customers

well wherever they are or want to be.

Itdiversifies our business. And we

useour international reach and

relationships to grow by bringing

brands and products to new locations.

c45%

revenue from North America

c£560m

IMEA revenue in 2025

business

Strategic Report

Informa Annual Report and Accounts 2025

We serve dozens of different specialist markets, from Fintech

to Foodservice, Pharmaceutical Ingredients tophysicalsciences,

and education to enterprise IT. Asthosemarkets develop and

grow, wedevelop and expandwhat wedeliver tothem too.

Our customers – businesses,

professionals and researchers –

havechosen to specialise ina market

and wantto succeed in what they do.

Ourbrands and teams focus on

stayingclose to customers and being

immersed in theirmarkets, to make

sure that what weoffer is relevant,

adds value and isultimately must-have.

It’s what we mean by championing

thespecialist: our customers and

themarkets they work in are

centraltoeverything we do.

specialist markets

Focused on

Strategic Report G F A

major brands

Home to

Informa is home to major market-leading brands.

InB2BLiveEvents, our top 21 brands generateover

£1bnofrevenueeach year.

Our marquee franchises, which

runmultiple events in different

locations each year, include WHX

inHealthcare, LIONS in Marketing

andBlack Hat in Cyber Security.

SuperReturn in Private Capital

heldover 25 events in 11 countries

in2025.

In academic publishing, our Routledge,

DoveMedical Press and F1000

imprintsare significant brands

intheirmarket categories.

Our major brands have continued

growth potential from expanding into

new countries, serving new types of

customers, adding new products and

services, and delivering more value

tocurrent customers.

c50%

our top 50 brands account

fornearly 50% of our

B2BMarkets revenues.

Strategic Report

Informa Annual Report and Accounts 2025

power of live

Harnessing the

Live events are at the heart of our business, and

intoday’s world, the demand for live experiences

hasnever been higher.

As we spend more of our lives

online and digitally, the value

ofcoming together, in person,

asacommunity with a shared

interest, for a live experience has

increased, whether it is in sports,

entertainment or business.

We deliver transaction, content

and experience-focused events

ofdifferent types and scale.

Weuse technology, including AI,

tocreate a smart and seamless

experience, and we capture and

apply audience data in ways that

increase value for customers.

Informa Annual Report and Accounts 2025

Strategic Report G F A

Harnessing the

value of knowledge

We have a significant depth of trusted content

throughout Informa.

This includes original research

andknowledge published by

Taylor & Francis – with archives

dating back to the 1800s – expert

intelligence from analysts at

brands such as Omdia, and

specialist content and insights

written by editors at media

brandssuch as Aviation Week.

Our content comes from experts,

and when it is academic research,

it is typically verified and peer-

reviewed too. This makes it

highlyvaluable, both to AI large

language models as trustworthy

source material and to audiences

and specialists looking for

human-led insights.

Strategic Report

Informa Annual Report and Accounts 2025

Investment case

Growth

focusand

opportunities

We’re a growth-focused business.

Wehave a track record of delivering

consistent revenue growth and we

have a range of opportunities to

continue to grow and expand, based

onserving our customers’ evolving

needs across multiple markets

andlocations.

A resilient

portfolio

Our business is well diversified by

customer, end market, product and

geography. We deliver a range of

products and services, which our

customers often regard as must-have.

Leading

positions

ingrowing

markets

We have leading positions in our

threemain markets: B2B Live Events,

B2B Digital Services and Academic

Markets. We work in geographies

thatare fast-growing and in a

rangeofspecialist markets that

aregrowingat pace too.

Opportunities

from data

andAI

We have extensive first-party

customerdata, which we are using to

develop new products and personalise

our customer experience. We’re using

AI throughout our business to harness

insights from our data, support new

services and work more effectively.

Attractive

financial

characteristics

Over 60% of our revenue is visible

– forexample, from being pre-booked

in advance – and recurs from year to

year. Our cash generation is high, our

balance sheet is robust, our capital

requirements are low and we have

improving margins.

Disciplined

capital

allocation

We are carefully considered in how

wedeploy capital. Our framework

balances investing in the business to

support sustainable organic growth,

providing returns to shareholders

through dividends and share

buybacks,and investing in adding

businesses and brands where it

createslong-term value.

Informa Annual Report and Accounts 2025

Strategic Report G F A

Business model

Our markets

We work in specialist

markets, serving

customers including:

Professionals

who want to succeed in

what they do and stay

informed and up to date

Businesses

that want to find the right

customers, partners and

suppliers, and find relevant,

trusted information to use

in their business and

decision making

Researchers

who want their discoveries

and ideas to reach the

rightaudience and make

areal-world impact

What we do

We advance

understanding

We create and publish

expert research,

intelligence and insights

that help specialists

stay informed,

knowledgeable

anduptodate

We connect people

In dozens of different markets, we

bring the right people together in ways

that make a real impact: professionals,

peers, buyers, sellers, start-ups

andinvestors

Major live B2B events

On-demand and online events

Research journals, articles, books and

ebooks, and open research platforms

Specialist media, content and research

Accredited training

Partnering services

Buyer discovery services and

intent-to-purchase data

Brand awareness and audience

development products

Digital demand and

lead-generation services

We help markets succeed

Our brands help entire markets and

communities to meet, connect, trade,

share ideas and innovation, and solve

common challenges, driving their

development and success

Through

Strategic Report

Informa Annual Report and Accounts 2025

How we add value

Our revenue streams

Results and impacts

• Annual and multi-

year subscriptions

tojournals

• Purchases of

specialist books

andebooks

• Access to specialist

databases

• Access to archive

content

• Research article

reprints and other

content services

• Licensing and

dataaccess

• Article processing

charges

• Open book

publishing services

• Research editing

services

• Sponsorship and

promotion on

research hubs

• Event space including

standspace

• Paid event attendance

• Event sponsorship

• Award programmes

• Brand promotion via

eventapps, pre-event

marketing and onsite

• Content-focused brand

awareness and marketing

campaigns, including

sponsored webinars

andthought leadership

B2B Markets

Academic Markets

For

shareholders

Long-term capital

andincomegrowth

£620m

cash returns to

shareholders in 2025

For

customers

Knowledge and

connections that

drive professional

and business success

net promoter score,

Informa Markets top

50 events

For

colleagues

Professional growth

and opportunity, with

personal support

andbenefits

colleague

engagement score

For

partners

Committed long-term

relationships that

support commercial

success

$8.4bn

economic value

generated for cities

that host our events

For

communities

Making a positive

contribution through

economic and

community activity

£582m

total global tax

contribution

• We continuously invest in our

brands and product development

– often in collaboration with

customers – to keep improving

what we offer and increasing

itsvalue

• In each of our markets, we form

strong relationships with key

partners that help us deliver more

and better to customers

• Our culture encourages colleagues

to stay close to our customers and

markets, and to be creative and

agile in how we serve them

• Our customer interactions give us

unique, permissioned first-party

data and insight. We use this to

enhance our products and

marketing, and as the basis for

data-driven digital services

• Sustainability is embedded

throughout the business.

Itaddsvalue to our brands and

customers, and helps us make

awider positive impact

• We use our international presence

and scale to launch new products

and serve customers all over the

world effectively

• We are efficient and disciplined

inhow we use capital, striking a

balance between reinvestment

and shareholder returns

• We manage risk dynamically,

empowering teams to act

onmarket changes and

opportunitiesin real time

• Product listing and

promotionon digital

marketplaces and directories

• Access to lead generation,

buyer intent and data

captureplatforms

• Individual and corporate

training courses

• Subscriptions to

specialistresearch

• Consultancy services

• Purchases of individual

research and reports

Informa Annual Report and Accounts 2025

Strategic Report G F A

Growth

Chair’s introduction

Continuing

Informa had an excellent year

in 2025, and we continue to

focus on, and invest in, the

continuing growth and success

of this business.

Since the point at which I joined the

Group around a decade ago, Informa

has significantly transformed.

The company has built a true

leadership position in B2B Live Events,

working at an international scale that is

markedly different from 10 years ago,

and with a much-expanded portfolio

ofmajor brands that deliver real value

to customers.

In Academic Markets, our business has

also transformed. We have built strength

in the growing area of open access,

invested deeply in technology and AI,

and grown revenues 50% since 2015.

We have grown our position in B2B

Digital Services; invested significantly

in colleagues and culture; and have

made ongoing product development,

customer experience and customer

value priorities.

Thank you to all colleagues for the effort,

day in and day out, that delivers these

results, and to all shareholders for the

ongoing engagement and support.

Growth and One Informa

As I have said to shareholders before,

Informa’s products and services have a

tangible value and make a real difference

to businesses, professionals, researchers

and institutions.

There is nothing like engaging

customers in the middle of a major

liveevent to highlight how important

these products are for connection and

trade. Or meeting local businesses

andgovernment authorities, as we do

onan ongoing basis in many countries,

to underline the inward investment live

B2B events generate. Or talking

toinstitutions to understand the

powerful real-world impacts that

original published research can have.

There are many opportunities for

Informa to continue to grow and succeed

from here. The management team is as

energised, ambitious and motivated as

ever, and we are spending significant

time and resources on making the most

of the platform Informa has built over

the last 10 or so years.

Those growth drivers include taking

strong, established brands to new

locations, particularly some of the

higher-growth economies the Group

has built a presence in. They include

further developing our services to

event customers to provide them

witheven greater value, particularly

products that are driven or enhanced

by our first-party data. In the research

market, they include making the most

of our technology investments so we

can scale the research we publish in

anefficient way.

Strategic Report

Informa Annual Report and Accounts 2025

Informa is embracing AI, in all its

forms, as a way to develop products

more quickly, improve customer

experience and increase customer

value, and unlock colleagues’ time.

Our proprietary AI capability, Elysia, is

key to this, and work is progressing at

pace, with much more to come.

Several of these initiatives are being run

as part of the 2025-2028 One Informa

programme, which will be an important

contributor to Informa’s continued

development, growth and effectiveness

for the benefit of customers and

colleagues, as well as shareholders.

Ourgoal is to deliver at least 5%

underlying revenue growth, each

year,in the period to 2028.

Inside and outside Informa

My fellow Non-Executive Directors

and I always spend a considerable

amount of time around the company,

and stay closely connected to all our

stakeholders and to what is happening

in Informa’s markets.

It is one of the real pleasures of the

roletoo. It is always humbling to see

theexpertise that so many Informa

colleagues have,and the professionalism

and enthusiasm with which they work.

It would be an understatement to say

that there is a lot happening in the

world around us. This is where Board

members aim to contribute our

accumulated experience, relationships

and insights to what direct or indirect

impacts there could be from fast-

changing geopolitical developments or

evolving global trading relationships.

As the world evolves, so too do

opportunities and risks. It is for all of

us at Informa to stay aware of these,

but also to stay focused on developing

and delivering products that provide

real value, keeping our culture of

staying close to customers and trends

and acting fast, and having the right

combination of growth plans and risk

management processes in place.

Capital allocation and

shareholder engagement

Informa’s shareholders will be familiar

with the company’s approach to

allocating capital. In 2025, this was

again balanced between paying a

progressive dividend – which we

increased 10% – undertaking share

buybacks and investing for growth.

We believe that this balance, along with

the target range we have set for leverage,

is appropriate for the company and in

the best interests of shareholders and all

stakeholders. As we do each year, the

management team and I continue to

speak to shareholders regularly and take

views and feedback into account in all

key decisions.

In those conversations however, the

key focus is usually on what further

opportunities Informa has to grow.

Iam personally excited about what

Ican see ahead for the Group and

continue to believe that Informa has

the capabilities, ambition and plan to

deliver success long into the future.

Board succession

This will be the last year that I stand

for re-election as Chair of the company.

As described in more detail in the

Nomination Committee report,

aplanned succession process is

underway, with a view to confirming

a new Chair for the Group during 2026.

When that person formally takes up the

role in early 2027, they will be leading

aGroup that has built leading positions

in growing and attractive markets, a

business with true international reach

and, most important of all, a team of

world-class talent.

As ever, thank you to our shareholders,

to colleagues everywhere, and to

ourcustomers and partners for the

ongoing engagement and support.

John Rishton

Chair

11 March 2026

Long-term success

andSection172

Informa’s Board is committed to

performing all the duties set out

in Section 172 of the Companies

Act 2006.

For full information about how

we performed these duties, see

the Board’s year (pages 84 to 87)

and our Section 172 statement

(pages 88 to 91).

Informa Annual Report and Accounts 2025

Strategic Report G F A

Group Chief Executive’s review

Growth

Compounding

Over a decade ago, the

leadership team and Board

ofInforma set out tocreate

aconsistent international

growthbusiness.

Since 2014, we have set out to become

a market leader in B2B Live Events and

connected products; to expand and

diversify our Academic Markets

business; and to repair our then-

Intelligence business and consider

theshape of the Group’s portfolio.

We took decisions about the markets

and categories we wanted to work in:

industries, customer segments and

geographies that had attractive

characteristics and good long-term

growth potential.

We consistently developed our products

to make sure they were distinctive and

relevant to our customers’ goals. We

became an invested business: a company

that put consistent resources into those

products and into the technology and

capabilities needed for long-term success.

We set out to give talented colleagues

ahigh degree of ownership and

provide teams with the support and

focus to keep finding new and more

ways to serve our customers.

grew double digit on a reported basis

and almost 10% on an underlying basis

to £3bn (2024: £2,638m).

Business highlights

In our B2B Live Events businesses,

wesaw highly successful brand

launches, including the first edition of

Money20/20 Middle East, a brand we

welcomed into the Group in late 2024.

There was double-digit revenue growth

from our businesses in IMEA, South East

Asia and South America, and strong

results from our major brands and

franchises, including SuperReturn in

Private Capital and WHX in Healthcare.

Several of our larger biennial events

were held in 2025 and performed very

well too, including the Dubai Airshow,

which has become the world’s largest

commercial aviation event. Regionally,

our B2B Live Events business in China

had a somewhat more subdued year,

reflecting lower levels of economic

growth in thatmarket.

Our Academic Markets business,

Taylor& Francis, delivered a good

levelof growth from its core, recurring

business. Thisincluded continuing

double-digit revenue growth in our

open access business and a consistent

performance in subscription renewals

and other pay-to-read services.

Informa became that consistent

growth business, and the platform we

built has opened up new opportunities

for the company to grow further and

deliver in new ways for our customers,

colleagues, partners and shareholders.

During 2025 and as we move into 2026

and beyond, shareholders will find a

Group that is consistently maximising

those opportunities and focused on

compounding this growth going forward.

Strong Group growth in 2025

Informa had a further very strong

yearin 2025, meeting and beating the

ambitions we set out at a Group level.

Our revenues grew just under 14%

onareported basis to reach £4bn

(2024: £3.6bn), the first time the

Grouphas passed this threshold.

Similarly, adjusted operating profit

grew by almost 15% to £1,140m

(2024: £995m) and adjusted diluted

earnings per share increased by 11%

toa record 55.6p (2024: 50.1p).

These results are driven by a very

positive performance from our B2B

Live Events businesses, which account

for around three quarters of the

Groupby revenue. Revenues in our

international portfolio of transaction,

content and experience-led events

Strategic Report

Informa Annual Report and Accounts 2025

In 2024, we moved quickly on the

opportunity to partner with several

leading AI technology companies,

providing access to certain archive

Taylor & Francis data and content

fortraining large language models.

Thisdelivered additional royalties

forauthors and generated over $75m

inrevenue in that year, which we

expected would not repeat to the same

degree in 2025. This dynamic meant

that while recurring underlying

revenue growth was just over 3.5%

when excluding this revenue from

AIpartnerships in 2024, underlying

revenues overall fell by around 2%

when these non-recurring revenues

were included.

In B2B Digital Services, 2025 was the

first full year of Informa TechTarget,

which we created through combining

Informa’s technology-focused digital

services business and Nasdaq-listed

TechTarget.

This market has remained subdued, as

customers have continued to prioritise

spending on AI tools over data that

supports marketing and sales activity.

During the year, the Informa TechTarget

leadership team took a number of

actions to focus the business on areas

where we see the best opportunities

for our products.

Underlying revenue growth during

theyear went from (4)% in the first

halfto 1% in the second half, ending

2025 at (1.7)%. This progressive

improvement is encouraging, and the

team is fully focused on building on

thisprogress and growing through

2026. Informa TechTarget accounted

for just under 10% of Informa Group

revenues in2025.

In all, on an underlying basis, Group

revenues grew by over 6% in 2025,

andat more than 8% when adjusting

for the effect of the non-recurring data

agreements in Taylor & Francis and the

effect of Informa TechTarget being

consolidated into the Group.

Returns and recognition

Our strong trading performance was

accompanied by continuing growth in

free cash flow, which reached £885m

(2024: £812m). This fundamental

strength in cash generation and cash

conversion gives us the ability to keep

investing in our business, including into

our One Informa programme, as well

as into dividends and ongoing share

buybacks. We completed £352m of our

planned share buyback programme

during 2025 and will pay a total

dividend of 22.0p per share for 2025

(2024: 20.0p).

It was fantastic to see our recent

performance recognised by peers and

independent assessors during the year

too. Informa was named as one of

Britan’s Most Admired Companies

inJanuary 2026 in what is the UK’s

longest-running corporate reputation

study, conducted in partnership with

the London Stock Exchange.

In 2025, Informa once again ranked in

the top1%of the benchmark Dow Jones

Best-in-Class Index for sustainability.

This is the sixth consecutive year we

have featured in the top 1% to 2% of

ourcategory, which is a considerable

achievement, particularly as scoring

thresholds become progressively more

challenging each year.

Both are sources of real pride for us,

and they reflect our focus on increasing

the quality and impact with which we

work, in everything we do.

Growth in the knowledge

andinformation economy

As shareholders would expect, we set

ourselves in-year goals to perform

strongly and, at the same time, take

actions that are designed to generate

consistent compounding growth over

the long term too.

Those who work closely with us know

that Informa does not stand still. We

have built a strong business; we have

put ourselves in positions that mean

we can create new opportunities to

expand; and we are delivering on

thoseyear after year.

It starts with the markets we work in.

At its broadest level, Informa works

inthe knowledge and information

economy: in other words, the market

for getting smarter, being more

knowledgeable and up to date, being

better connected, sharing insights, and

applying new thinking and the latest

discoveries to your work or business.

We see nothing but growing and global

demand for these outcomes, from

businesses and professionals who want

to stay relevant and succeed in what

they do.

Latest Informa awards

Informa Annual Report and Accounts 2025

Strategic Report G F A

Group Chief Executive’s review continued

Compounding growth:

B2B Live Events

The categories we have chosen to work

in are in demand too, and this drives

our ability to grow consistently into

thefuture.

Live events form the largest part of

ourGroup because we fundamentally

believe in the power of live. As our

customers will attest, there is nothing

quite the same, or quite as powerful,

ascoming together in person to start

or deepen commercial relationships

and partnerships.

The best live events provide the ability

to meet, connect, learn from, be

inspired by, celebrate and do business

with thousands of others from the

same community, with a level of

efficiency and convenience – as well as

enjoyment – that other formats cannot

match. Done well, they become simply

unmissable industry moments.

Live events have only become more

valuable as the world has become more

digital, and our customer offering is

constantly evolving and improving too.

We created Informa Festivals to build

our position in the growing segment of

experience-led events, and to help us

build our capabilities in more immersive

and experiential event features. These

are becoming increasingly important to

all types of live events and they are one

of the ways we can deliver greater value

and an even better product to our

customers in the years ahead.

2025 was Informa Festi