Relx PlcLSE: REL

Investor presentation – June 2026 02 June 2026 Presentation

· Issued by Relx Plc


The global provider of information-based analytics and decision tools

June 2026



RELX Investor Relations contacts

Paul Sullivan - Head of Investor Relations paul.sullivan@relx.com

James Statham - Director, Investor Relations james.statham@relx.com

Natalia Gardner - Investor Relations Associate natalia.gardner@relx.com

Kate Whitaker - Investor Relations kate.whitaker@relx.com



DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS

This presentation contains forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties that could cause actual results or outcomes of RELX PLC (together with its subsidiaries, "RELX", "we" or "our") to differ materially from those expressed in any forward-looking statement. We consider any statements that are not historical facts to be "forward-looking statements". The terms "outlook", "estimate", "forecast", "project", "plan", "intend", "expect", "should", "could", "will", "believe", "trends" and similar expressions may indicate a forward-looking statement. Important factors that could cause actual results or outcomes to differ materially from estimates or forecasts contained in the forward-looking statements include, among others: regulatory and other changes regarding the collection or use of personal data; changes in law and legal interpretation affecting our intellectual property rights and internet communications; current and future geopolitical, economic and market conditions; research integrity issues or changes in the payment model for our scientific, technical and medical research products; competitive factors in the industries in which we operate and demand for our products and services; our inability to realise the future anticipated benefits of acquisitions; compromises of our cybersecurity systems or other unauthorised access to our databases; changes in economic cycles, trading relations, communicable disease epidemics or pandemics, severe weather events, natural disasters and terrorism; failure of third parties to whom we have outsourced business activities; significant failure or interruption of our systems; our inability to retain high-quality employees and management; changes in tax laws and uncertainty in their application; exchange rate fluctuations; adverse market conditions or downgrades to the credit ratings of our debt; changes in the market values of defined benefit pension scheme assets and in the market related assumptions used to value scheme liabilities; breaches of generally accepted ethical business standards or applicable laws; and other risks referenced from time to time in the filings of RELX PLC with the US Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Except as may be required by law, we undertake no obligation to publicly update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.

RELX is a global provider of information-based analytics and decision tools for professional and business customers, enabling them to make better decisions, get better results and be more productive

RELX global scale and growth 2025

  • Revenue: £9.6bn

  • Adjusted operating profit: £3.3bn

  • EBITDA margin 40.1%

  • Adjusted operating margin: 34.8%

  • Cash flow conversion: 99%

    Underlying revenue growth

    Underlying adjusted operating profit growth Adjusted EPS growth at constant currency

    +7%

    +9%

    +10%

  • Net debt / EBITDA: 2.0x

1At 1 June 2026

See Annual Report for definitions and reconciliations

  • >37,000 employees worldwide

  • Customers in more than 180 countries

  • Listings in London, Amsterdam and New York (ADR)

  • Market capitalisation1: £45bn / €52bn / $61bn

Progress and outlook

2025 progress

"RELX delivered strong underlying revenue and profit growth and strong new sales in 2025: continued strong growth in Risk; good growth with improving momentum in Scientific, Technical & Medical; a further step up in growth in Legal; and strong ongoing growth in Exhibitions."

"Our improving long-term growth trajectory continues to be driven by the ongoing shift in business mix towards higher growth analytics and decision tools that deliver enhanced value to our customers. We develop these products by leveraging deep customer understanding to combine our unique content and comprehensive data sets with advanced technologies."

"The continued evolution of artificial intelligence is enabling us to add more value to our customers, as we embed additional functionality in our products, and to develop and launch products at a faster pace, while continuing to manage cost growth below revenue growth. This evolution has been a key driver of our business for well over a decade, and will remain a key driver of customer value and growth in our business for many years to come."

2026 full year outlook



We continue to see positive momentum across the group, and we expect another year of strong underlying growth in revenue and adjusted operating profit, as well as strong growth in adjusted earnings per share on a constant currency basis.



RELX revenue by category 2025

Format

Face-to-face 12%

Electronic

84%

Print & print-related

Geography

Rest of world 21%

Europe

21%

North America 58%

Type

Transactional* 46%

Subscription

54%

*Includes long-term contracts with volumetric elements

RELX revenue by format

2000-2025:

27%

25%

22%

21%

19%

18%

15%

13%

11%

10% 9% 8%

5%

7% 6%

7% 11%

5%

12%

4%

13%

12%

37% 33% 15% 16% 16%

15% 15%

56% 52% 51% 15% 15% 16%

64% 64% 60% 58% 14% 15%

14%

17%

15%

14%

22%

14%

22%

12%

28%

12%

30%

12%

32%

13%

35%

12%

37%

48%

50%

59%

61%

63%

64%

66%

66%

70%

72%

74%

74%

75%

87%

86%

83%

83%

83%

84%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Electronic Face-to-face Print Print & print-related

RELX strategic direction

Strategy
  • Develop increasingly sophisticated information-based analytics and decision tools that deliver enhanced value to professional and business customers across market segments

  • Primary focus on organic growth, supported by targeted acquisitions

Revenue growth objectives

Risk

  • Sustain strong long-term growth profile

STM

  • Continue on improving growth trajectory

Legal

  • Continue on improving growth trajectory

Exhibitions

  • Sustain strong long-term growth profile

Cost growth objective
  • Underlying cost growth below underlying revenue growth

Outcomes

Better customer outcomes | Higher growth profile | Strong earnings growth | Improving returns | Positive impact on society

Financial performance

Underlying revenue growth

Underlying adjusted operating profit growth

+3%

+4%

+4%

+4%

+4%

+7%

+9%

+8%

+7%

+7%

+5%

+6%

+6%

+6%

+5%

+13%

+15%

+13%

+10%

+9%

-9%

-18%

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2024 and prior growth includes print & print-related

2024 and prior growth includes print & print-related

Adjusted operating margin

EBITDA margin

30.5%

30.7%

31.1%

31.3%

31.6%

29.2%

30.5%

31.4%

33.1%

33.9%

34.8%

34.3%

35.4%

35.8%

36.2%

37.3%

36.1%

37.2%

37.1%

38.7%

39.5%

40.1%

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Financial performance

-15%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

+7% +7% +7%

+10%

+9%

+8% +8%

+11%

+10%

+17%

Constant currency adjusted EPS growth

Return on invested capital

12.7% 13.0% 12.9% 13.2%

13.6%

14.0% 14.8% 15.4%

10.8%

11.9% 12.5%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Adjusted cash flow conversion

94% 95%

96% 96%

96% 97%

101% 101%

98% 97%

99%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

0 p

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Percentages represent growth in GBP

+14%

+9%

+7%

+10%

+21%

+6%

+3%

+8%

+10%

+7% +7%

70 p

Dividend per share (p)

Uses of cash - priorities

1. Organic development

Capex (£m)

2015

307

2016

333

2017

354

2018

362

2019

380

2020

362

2021

337

2022

436

2023

477

2024

484

2025

525

Average:

c 5% of revenue

2. Portfolio development

978

878

Average:

Acquisition consideration (£m)

416

443

c £400m

207

367

123

255

130

195

270

3. Dividends

Total payout (£m)

583

683

762

796

842

880

920

983

1,059

1,121

1,181

c 50% of adjusted earnings

4. Leverage

Net debt / EBITDA

2.2x

2.2x

2.2x

2.4x

2.5x

3.3x

2.4x

2.1x

2.0x

1.8x

2.0x

Typical range: 2.0-2.5x

5. Buybacks

Deployed (£m)

500

700

700

700

600

150

0

500

800

1,000

1,500

2026: £2.25bn

1 2 3 4 5 6 7 8 9 10 11

1 2 3 4 5 6 7 8 9 10 11

1 2 3 4 5 6 7 8 9 10 11

1 2 3 4 5 6 7 8 9 10 11

Technology at RELX

Build new products and support innovation

Build and

improve our big data, analytics, and technology platforms

Ensure

platforms are increasingly reliable, scalable, secure, and compliant

Support

operational efficiencies via automation and re-tooling

Global Scale
  • $2bn RELX annual technology spend

  • More than 12,000 technologists at RELX

  • 15+ years of experience with big data and AI/ML

  • Technology agnostic

  • Leverage approaches across RELX

Extractive AI at RELX

Relate & Profile & Clean Standardise Analyse

Data Sources

  • Public records

  • Contributory

  • Digital identities

  • Machine generated

  • Licensed

  • Proprietary

    Delivery method

    Machine

    to machine Machine

    to human

    Real-time API services

    Batch services

    point of execution

Customer single

Unstructured and structured content

Big data platforms

Analysis applications

  • High-quality data from a wide array of sources in multiple formats

  • >130bn transactions analysed annually

  • >105m scientific publication records

  • >207bn legal and news documents and records

  • Grid computing with low-cost servers

  • Linking algorithms that generate high precision and recall

  • Machine learning algorithms to cluster, link and learn from the data

  • High speed data ingestion, recall, and processing

  • Rapid development cycles

  • Platforms to facilitate AI/ML

  • Proprietary algorithms

  • Predictive modelling

  • Machine learning and artificial intelligence

  • Modular product suites

  • Flexible delivery platforms

    Generative AI at RELX

    Authoritative Content Grounding Generation, Expert Oversight and Validation Trusted Customer Solutions

    Data Sources

    • Public records

    • Contributory

    • Digital identities

    • Machine generated

    • Licensed

    • Proprietary

Large unlabelled

dataset Refined labelled dataset and

Knowledge Graphs

  • Linking approaches with high precision and recall

  • Multi-model approach

  • Model fine tuning for specific use cases

  • Guardrails to enforce RELX Responsible AI Principles

  • Human oversight

  • Traceability, citations and source document linking

  • Feedback loops for continuous model refinement

Tailored Insights



Personalised Analyses

User specific workflows

Draft documents

Trust and transparency indicators

Compliance with global regulations

RELX revenue by segment

Risk Provides customers with information-based analytics and decision tools that

market position

2025

revenue £m

2025

adjusted operating profit £m

combine public and industry-specific content with advanced technology and algorithms to assist them in evaluating and predicting risk and enhancing operational efficiency

STM Helps advance science and healthcare by combining high-quality, trusted scientific and medical information and data sets with innovative technologies to deliver critical insights that support better outcomes

Key verticals #1

Global #1

3,485 1,305

2,714 1,035

Legal Helps its customers improve decision-making, achieve better outcomes and increase productivity by providing tools that combine legal, regulatory and business information with powerful analytics

US #2

Outside US #1 or

#2

1,806 415

Exhibitions Combines industry expertise, digital tools, and data to help customers connect in-person and online, discover new markets, source products, generate leads and transact

Global #2

1,186 410

RELX 2025 revenue and adjusted operating profit by segment

Exhibitions (+8%)

Risk (+8%)

Legal (+9%)

STM (+5%)

Print & print-related

RELX Group revenue (+7%)

Exhibitions (+9%)

Risk (+10%)

Legal (+12%)

STM (+7%)

Print & print-related

RELX Group adjusted operating profit (+9%)

Percentages represent underlying growth

RELX 2025 revenue by segment

RELX Group (+7%)

Exhibitions (+8%)

News & Business

Business Services

Risk (+8%)

Government & Academic

Legal (+9%)

Law Firms & Corporate Legal

Insurance

Specialised Industry Data Services

Government

Print & print-related

Percentages represent underlying growth

Academic & Government Primary Research

Databases, Tools & Electronic Reference Corporate Primary Research

STM (+5%)

RELX underlying revenue growth by segment

Risk

+9%

+7%

+8%

+8%

+9%

+7%

+8% +8% +8% +8%

+3%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Scientific, Technical & Medical

+4%

+4%

+5%

+2% +2% +2% +2%

+2%

+3%

+4%

+1%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Legal

+9%

+5%

+6%

+7%

+1%

+2% +2% +2%

+2%

+3%

+1%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Exhibitions

+44%

+64%

+30%

+11%

+8%

+5%

+5%

+6% +6% +6%

-69%

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

2024 and prior growth includes print & print-related

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