Slide 1: © Next 15 Confidential
© Next 15 Confidential
Slide 2: The Next Chapter - Capital Markets Day
THE NEXT CHAPTER BUILDING A SIMPLER, SMARTER NEXT 15 — FOCUSED ON DATA, TECHNOLOGY AND ACTIVATION CAPITAL MARKETS DAY 28TH JANUARY 2026 © Next 15 Confidential
Slide 3: The First 6 Months: New Leadership, a Decisive Approach
THE FIRST 6 MONTHS NEW LEADERSHIP, A DECISIVE APPROACH 1. 2. 3. RESOLVE SIMPLIFY CLARIFY Mach 49 classed as a discontinued Reduced portfolio from 22 -> 11 Moving Next 15 from a federated operation. businesses. group of businesses to a focused, connected Next 15 positioned to Arbitration & discussion
Slide 4: Who We Will Hear From Today
WHO WE WILL HEAR FROM TODAY… Sam Knights Mickey Kalifa CEO, Next 15 CFO, Next 15 Emma Robertson Christine Petersen Clive Armitage David Bromfield John Lesniak Dale Bornstein CEO, Transform Global CEO, Savanta CEO, Pretzl CFO, SMG CFO, MBooth CEO, MBooth © Next 15 Confidential
Slide 5: What We'll Discuss Today
WHAT WE’LL DISCUSS TODAY 01 Next 15 today and the fast changing landscape 02 The requirements of a future Next 15 business 03 The new Next 15 operating model - Unified, not uniform 04 An improved financial story for shareholders 05 Trading Update © Next 15 Confidential
Slide 6: Next 15 Today and the Fast Changing Landscape
01 NEXT 15 TODAY AND THE FAST CHANGING LANDSCAPE © Next 15 Confidential
Slide 7: The Layers of AI: A Simplified View
THE LAYERS OF AI A SIMPLIFIED VIEW Agentic AI Generative AI Technology Data © Next 15 Confidential
Slide 8: We Are Operating in a Fast-Changing Landscape, Driven by AI
WE ARE OPERATING IN A FAST-CHANGING LANDSCAPE, DRIVEN BY AI 1. Data is a core 2. Adaptability outpaces scale 3. A new integration of strategic asset AI enables rapid iteration and personalisation. Tech & People is required AI depends on data. Proprietary or long-term Agile businesses now rival — and
Slide 9: Next 15 Today
NEXT 15 TODAY © Next 15 Confidential
Slide 10: Our Core Strengths
OUR CORE STRENGTHS 1. 2. 3. 4. 5. Specialized in Data Rich Agile Early, Applied Ai Incredible Talent Growth Markets STRENGTHS Data-rich: proprietary, real- Agile at scale: big enough Applied AI: delivering early Exposure to high-growth Strong culture & time datasets to compete, small enough wins wit
Slide 11: How We Are Delivering for Clients
HOW WE ARE DELIVERING FOR CLIENTS Partnership, not transaction Data, not opinions Business case, not intent The old client / agency model is Decisions once based on gut, CFOs are more closely involved. Every changing from a transactional to an now need to be grounded in data. investment requires a c
Slide 12: The Next 15 Flywheel
THE NEXT 15 FLYWHEEL Activation Data Activation drives results. Data as a differentiator. Delivering positive data- Harnessing client and Next 15 driven outcomes that drive proprietary data to drive ROI sustainable growth AI + people at the core Technology Technology as a competitive advantage. Conn
Slide 13: Next 15 AI Activations
NEXT 15 AI ACTIVATIONS © Next 15 Confidential
Slide 14: Our Vision
OUR VISION Data-Powered Growth, fit for an AI future A group of specialist businesses powered by data and technology, delivering measurable solutions for clients and lasting value for shareholders © Next 15 Confidential
Slide 15: The Requirements of a Future Next 15 Business
02 THE REQUIREMENTS OF A FUTURE NEXT 15 BUSINESS © Next 15 Confidential
Slide 16: The Three 'C's
THE THREE ‘C’S CAPABILITIES CATEGORIES COMMERCIALS © Next 15 Confidential
Slide 17: Applying the 3C's: Some Practical Examples
APPLYING THE 3C’S SOME PRACTICAL EXAMPLES CAPABILITIES CATEGORIES COMMERCIALS Our business has a strong, defensible Our business will deliver and accessible data asset Hurdles Our business operates in a sector which we expect repeatable organic growth Our business is building proprietary to grow org
Slide 18: We Have Three Clear Tracks & Strategies
WE HAVE THREE CLEAR TRACKS & STRATEGIES TRACK 1 TRACK 2 TRACK 3 Business meets high hurdle rates Business fulfils some or most Business does not fulfil most criteria but does not meet Track 1 criteria and performance will in all criteria hurdles improve under alternative ownership -> Build 5 year in
Slide 19: Track Classification
TRACK CLASSIFICATION TRACK 1 TRACK 2 TRACK 3 © Next 15 Confidential
Slide 20: Re-introducing Our Track 1 Businesses
RE-INTRODUCING OUR TRACK 1 BUSINESSES © Next 15 Confidential
Slide 21: Transform
©Transform Confidential
Slide 22: Overview of Transform UK
©Transform Overview of Transform UK. We are a digital, data and AI transformation consultancy, helping public and private sector organisations define, design, build and operate products, services and operating models that deliver real, measurable change. What We Do. Who We Service. Who We Compete Ag
Slide 23: Transform UK Today
©Transform Transform UK Today. Scale & Footprint Revenue Growth: 12 Month Rolling (Q-on-Q (2024 v 2025) • Revenue (FY24/25): £44.5m • 3-year revenue CAGR: 12% • Operating margin: 13% • Headcount: 241 (+scalable associate base ~120) Business Quality Indicators Future Business Indicators • Outperforme
Slide 24: Data, Technology and Activation for Impact
©Transform Data, Technology and Activation for Impact are at central to Transform and our skills & services. Activation Data • Proven impact in outcomes of our work over • Data & AI Strategy 20 years • Data Architecture • Services designed for humans that work, • Analytics & Data Science efficiency
Slide 25: Department for Education: Real-Time Data and Predictive Action
©Transform Department for Education: from rear-view reporting to real-time data and predictive action. Following the unprecedented rise in pupil absence As data engineering partner for DfE our work during and after COVID-19—with one in five pupils focussed on Data Engineering, Data Analysis, persist
Slide 26: Market Opportunity & Growth Drivers
©Transform Market Opportunity & Growth Drivers Market Dynamics Demand drivers Opportunity space • UK IT consulting and business consulting • Market in a Transformation space – AI, • 20 years experience of full eco-system addressable market c. £68bn Product & Agile, Technology, Op Model & tech-led Tr
Slide 27: Thank you
©Transform Thank you Confidential
Slide 28: Capital Markets Day - Savanta
Capital Markets Day Christine Petersen CEO savanta.com
Slide 29: Savanta provides answers to complex business challenges
Savanta provides answers to complex business challenges by utilizing proprietary data & technology to derive insights that drive impact. We solve a wide variety of customer problems, including: Revenue Potential Spend & ROI Analysis Audience Acquisition Spend Optimization Strategic Assessment How mu
Slide 30: Savanta in Numbers
NEXT15 Capital Markets Day In numbers Over 75 564 25% of 1,000 Of the world's Employees revenue Derived from our Current clients top CPG companies 20 Years data products 4,000 brands Global Tracked monthly United United presence Kingdom Canada States savanta.com
Slide 31: We work with some of the most prominent and admired brands
NEXT15 Capital Markets Day An Established US luxury credit card provider CLIENT CHALLENGE OUR SOLUTION OUTCOME We work with some Launch and grow their premium cards business Behavioral science approach coupled with trade-off analysis Relaunch, higher demand and optimising card benefits & fees; susta
Slide 32: Our data asset is at the core of our business
NEXT15 Capital Markets Day Our data asset is at the core of our business Continuous Tracking Consumer Signals Diversified Product Strategy PROPRIETARY TRACKING 9,000,000+ 900,000,000+ TODAY Participants annually, Questions responding to… Dashboard Custom research Continuous brand measurements projec
Slide 33: Savanta platform screenshots
Focus Groups Manage focus group sessions Results Overview Ahh View and analyze al research results Welcome to Virtual Personas Create, test, and analyze virtual personas for better product insights = .-. Fore Gooogn
Slide 34: Market research is a big, growing market and we are positioned to win
NEXT15 Capital Markets Day Market research is a big, growing market and we are positioned to win Market Opportunity Growth Levers We are well positioned to win Strong track record of growth $153 Billion* Our data asset Total addressable market Blue-chip client base Existing relationships 30% of tota
Slide 35: Thank you
Thank you savanta.com
Slide 36: Pretzl: For the new customer journey
For the new customer journey. ©PRETZL Group 2026. Confidential. JANUARY 2026
Slide 37: The B2B marketing industry is changing rapidly
The B2B marketing industry is changing. .Rapidly.. ©PRETZL Group 2026. Confidential.
Slide 38: The B2B market opportunity
The B2B market .opportunity. 2024 = $18.9-$21.3bn 2030 = $30bn ©PRETZL Group 2026. Confidential.
Slide 39: Pretzl is a new N15 B2B business consolidating four brands
Pretzl is a new N15 B2B business consolidating four existing brands, launching on February 1st ● $60m of annual ● Greater scale revenues ● AI innovation AND ● 350 staff services expertise ©PRETZL Group 2026. Confidential. ● 200 clients ● Accelerated growth
Slide 40: JourneyLab: for the new customer journey
JourneyLab.: for the . new customer journey ©PRETZL Group 2026. Confidential.
Slide 41: ©PRETZL Group 2026. Confidential.
©PRETZL Group 2026. Confidential.
Slide 42: Confidence in the future: our growth trajectory
Confidence in the future: . our growth trajectory ©PRETZL Group 2026. Confidential.
Slide 43: JourneyLab - fitting the Next 15 flywheel
JourneyLab – fitting the .Next15 ‘flywheel’. CUSTOMER JOURNEY ©PRETZL Group 2026. Confidential.
Slide 44: The big growth lever - from services to TaPaaS
The big growth lever - from services to TaPaaS Integrated to client’s tech/data stacks; TaPaaS / Data retained/subscription/license ARR; sizeable 1st party data Proven, asset. sticky TaPaaS Standardised, semi- automated, tech- High-growth ( > 30%) Improved enabled operating Product- revenue in prior
Slide 45: Meeting market need: the customer perspective
Meeting market need.: . the customer perspective ©PRETZL Group 2026. Confidential.
Slide 46: ©PRETZL Group 2026. Confidential.
©PRETZL Group 2026. Confidential.
Slide 47: Thank you
you.. Thank you.. ©PRETZL Group 2026. Confidential.
Slide 48: SMG - Next 15 Capital Markets Day
SMG Next 15 Capital Markets Day
Slide 49: What is Retail Media?
WHAT IS RETAIL MEDIA? Retail media is a high-margin advertising model where retailers monetise their customer data and media touchpoints by enabling brands to advertise directly to shoppers at or near the point of purchase. Brands can get Retailers Brands can closed-loop unlock new, influence measur
Slide 50: Where Are We Today?
WHERE ARE WE TODAY? SELL-SIDE RMNs Building valuable retail media networks (RMNs), connecting retailers, brands and shoppers BUY-SIDE The connected commerce media partner for CPGs, connecting brands with people TECHNOLOGY & DATA - SMG has delivered 35% Revenue CAGR over the last 5 years, with strong
Slide 51: The Next 15 Flywheel
£1bn+ campaigns THE NEXT 15 delivered and evaluated across FLYWHEEL multiples categories and retailers giving us a stronger bank of DATA data than anyone else in the market Those insights enable us to deliver campaigns optimised for impact and ROI. Which in turn provide further data for the flywheel
Slide 52: Boots Media Group
BOOTS MEDIA GROUP DATA ● 17m customers in Advantage Card loyalty scheme ● 85k BMG campaign evaluation data points TECHNOLOGY ● Plan-Apps enables data to be analysed and activated against while streamlining operational processes ● 100% of campaigns evaluated giving brands confidence in campaign effec
Slide 53: Progress in Tech & AI
PROGRESS IN TECH & AI The last twelve months have seen us develop a number of AI enabled tools that both add efficiency within our business and generate greater value than ever for our clients CONSOLIDATION SMART AGENTIC CREATIVE & SELF-SERVE PLANNING MEDIA BUYING STUDIO CAPABILITIES AI powered modu
Slide 54: Market Expansion
MARKET EXPANSION MARKET OPPORTUNITY GROWTH LEVERS WHY WE ARE CONFIDENT ● Global retail media sector represents ● Short term prioritisation of North ● Existing foundational business in $178bn advertising revenue globally American expansion followed by North America with both consultancy in 2025 mediu
Slide 55: Thank You
THANK YOU
Slide 56: The Booth Group
THE BOOTH GROUP January 2026 ©2023 / MBOOTH.COM / @MBOOTHAGENCY / CONFIDENTIAL - DO NOT DISTRIBUTE
Slide 57: Meet The Booth Group
MEET THE BOOTH GROUP PRESENTING TODAY ABOUT US A US-based integrated strategic communications group helping OUR brands win in the marketplace – combining deep insight, data, PROPOSITION creativity and activation to build reputation, relevance and enterprise value Dale Bornstein CEO, Booth Group Blue
Slide 58: Meet The Booth Group Today
MEET THE BOOTH GROUP TODAY OUR STORY OUR PERFORMANCE • Acquired by Next 15 in 2009, M Booth has been led by CEO Dale • The Booth Group has delivered circa 12.5% revenue Bornstein since 2013, overseeing its development and expansion CAGR over the last 5 years • To power growth, in 2018 M Booth adopte
Slide 59: Data, Technology & Activation Positioning in the Next 15 Flywheel
DATA, TECHNOLOGY & ACTIVATION POSITIONING IN THE NEXT 15 FLYWHEEL M Booth is continuously evolving to harness the power of the Group flywheel, with increasing integration of Data and AI-enabled insight PROPRIETARY PRODUCTS & TOOLS INVESTMENT PRIORITIES ⬝ GenIQ (GEO evaluation) ⬝ Expanding AI-enabled
Slide 60: Combating Misinformation and Amplifying LLM Visibility with GenIQ
COMBATING MISINFORMATION AND AMPLIFYING LLM VISIBILITY WITH GenIQ A client was facing rising product misinformation originating on social platforms and competitor narratives, impacting brand perception across search, social, and AI-powered experiences. OBJECTIVE THE GenIQ APPROACH RESULTS (within 90
Slide 61: Market Opportunity & Growth Drivers
MARKET OPPORTUNITY & GROWTH DRIVERS MARKET OPPORTUNITY MEDIUM-TERM GROWTH LEVERS WHY WE ARE CONFIDENT ▪ US PR market growing at ~7% CAGR 1. Deepening Existing Client Relationships ▪ Trusted client relationships (2025-30) ▪ Expanding scope within key accounts and ▪ Highly magnetic brands for ▪ Faster
Slide 62: Thank You
THANK YOU. ©2024 / MBOOTH.COM / @MBOOTHAGENCY / CONFIDENTIAL - DO NOT DISTRIBUTE
Slide 63: The New Next 15 - Unified, Not Uniform
03 THE NEW NEXT 15 - UNIFIED, NOT UNIFORM © Next 15 Confidential
Slide 64: What Is Next 15 Already Doing Very Well?
WHAT IS NEXT 15 ALREADY DOING VERY WELL? Our entrepreneurial culture and strong positions in niche markets give us a powerful starting point Strong positions in Trusted to solve complex Innovation niche markets client issues A long history of supporting Next 15 has developed key Our culture has alwa
Slide 65: What Are We Improving?
WHAT ARE WE IMPROVING? Removing the silos Centralise data & technology Aligning Incentives Unlock group-wide growth potential Innovation in the businesses, Create long-term value through by aligning businesses beyond the supported by technology in the redesign of incentive structures, traditional fe
Slide 66: Unified But Not Uniform - An Example
UNIFIED BUT NOT UNIFORM - AN EXAMPLE CLIENT CROSSOVER ● A360/JourneyLab technology share with Pretzl ● A360/JourneyLab technology share with SMG ● Client crossover with Savanta & M Booth ● Synthetic persona clients for Savanta ● International expansion with Savanta & M Booth ● Data mesh benefit betw
Slide 67: Building Shared Data and AI Capabilities Across the Group
BUILDING SHARED DATA AND AI CAPABILITIES ACROSS THE GROUP 2025: Build Next 15 Labs rolling out Maistro platform to first brands and doing value studies to demonstrate ROI Pretzl creating a next-gen AI and data platform for B2B marketing SMG adding AI tools to PlanApps and automating time-intensive o
Slide 68: The Role of the Next 15 Executive
THE ROLE OF THE NEXT 15 EXECUTIVE 1 2 Partner for growth Listen & Learn Support each brand’s Stay close to our 3-year plan with a disciplined clients and markets approach to capital allocation Shareholder returns 4 3 Build the brand Connect Capabilities Tell our story clearly to Share data and tech
Slide 69: From Fragmented to Aligned: How the Model Is Evolving
FROM FRAGMENTED TO ALIGNED: HOW THE MODEL IS EVOLVING WAS IS Group Structure Decentralised, federated Unified but not uniform. Balanced - still weighted to business Focused on individual Incentives business performance performance but strong elements of Next 15 performance related award Operating Mo
Slide 70: Culture at Next 15
CULTURE AT NEXT 15 © Next 15 Confidential
Slide 71: An Improved Financial Story for Shareholders
04 AN IMPROVED FINANCIAL STORY FOR SHAREHOLDERS © Next 15 Confidential
Slide 72: Operating Segments
OPERATING SEGMENTS A simplified and streamlined structure bringing clarity and alignment. Operating Segments Businesses ⬝ The streamlined business model requires a Retail Media clear, consistent segmental reporting framework to improve transparency. Data & Research ⬝ The Operating Segments reflect o
Slide 73: Financials into the Medium Term
FINANCIALS INTO THE MEDIUM TERM Share of Revenue Share of Operating Profit Operating Profit in Medium term Revenue in medium Medium term medium term as Current* Segment Relative term as multiple of Current* Segment Relative multiple of FY26 Growth Potential** FY26 Revenue** Growth Potential** Revenu
Slide 74: Growth from New Products and Services
GROWTH FROM NEW PRODUCTS AND SERVICES ~40% new revenue from new repeatable streams built Investment in tech led new products and services through AI development and Geographic Expansion delivers strong returns ⬝ Our existing core will provide a stable foundation, with the new ⬝ We plan to make signi
Slide 75: Track 1 Investment Priorities and KPIs (FY27)
TRACK 1 INVESTMENT PRIORITIES AND KPIS (FY27) ⬝ Delivery of new revenue streams requires upfront investment. ⬝ In FY27 we will carefully begin to invest modestly (£4m-6m) in our Track 1 businesses to unlock their growth potential as we simplify the rest of the group. ⬝ Each investment has quarterly
Slide 76: Geographic Focus and Client Industry Split
GEOGRAPHIC FOCUS AND CLIENT INDUSTRY SPLIT The business is currently evenly split Client industry mix between the UK and the US Our client industry mix has, in recent years, shifted away from US In the medium term, our focus will remain on these two tech to a broader client industry mix, largely as
Slide 77: Capital Allocation
CAPITAL ALLOCATION Disciplined approach to balance sheet efficiency and growth investment A strategic approach to capital allocation that aligns with our commitment to maintaining financial stability while pursuing growth opportunities. 1 Pay down of debt and any potential Mach49 liabilities (from d
Slide 78: Trading Update
05 TRADING UPDATE © Next 15 Confidential
Slide 79: FY26 Trading Update and FY27 Outlook
FY26 TRADING UPDATE AND FY27 OUTLOOK FY 26 FY 27 FY26 performance is anticipated to be in-line with market expectations*, Looking ahead to FY27, the Group remains confident in delivering like-for-like underpinned by robust trading results through the final weeks of 2025. revenue growth and a further
Slide 80: Summary
06 SUMMARY © Next 15 Confidential
Slide 81: The Next Chapter
THE NEXT CHAPTER Vision: Data-powered growth, fit for an AI future A simplified business, with clear focus, An AI and data first platform Unified, not uniform expertise and a strong capital base built for growth A focused, connected Next 15 — built on shared strengths in data and technology, driven
Slide 82: © Next 15 Confidential
© Next 15 Confidential
Slide 83: Appendix - sources
Appendix - sources Market Size Research AI Impact Research 1. Global Ad Spend CAGR 2025–30 1. Agency Job Automation Source: Reuters / WPP Media Source: CampaignLive / Forrester 2. Retail Media Spend 2025 2. Generative AI Workforce Impact Source: Campaign Brief Asia (via WARC) Source: Mckinsey.com 3.