FOR IMMEDIATE RELEASE                                                                       03 December 2024

WPP plc ("WPP")

Completion of FGS Global transaction

WPP today announces that it has completed the transaction to sell its majority stake in FGS Global to Kite Bidco Inc., an entity controlled by investment funds managed or advised by KKR. KKR first made a minority investment in FGS Global in July 2023, and the sale of the remaining majority stake by WPP to Kite Bidco Inc. was announced in August 2024.

The consideration for the sale of WPP's c.50% stake at an Enterprise Value of $1.7bn (c.£1.3bn¹) is $775m (£611m) ($707m (£557m) after tax) payable in cash. This represents an attractive valuation multiple to the 2023 EBITDA and unlocks significant value for WPP shareholders.

The total cash proceeds of $767m (£604m)² will be used to reduce WPP's leverage. The transaction has no impact on WPP's current year or medium-term guidance and is expected to be broadly earnings neutral in 2025.

¹$ enterprise value and consideration translated into £ at an exchange rate of £1:$1.27

²Comprising £557m consideration (after tax) for WPP's c.50% stake as well as a net £47m inflow for the repayment of a loan made by WPP to FGS, less FGS's cash on balance sheet

About WPP

WPP is the creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit wpp.com.