PowerPoint Presentation

Interims 20121

April 24th 2012

1HighlightsOur transitionFinancialsSummaryAppendixAgenda22012 interim highlightsRevenue growth of 11% of which 4% organic*New business: Foursquare, Yelp, GE, Nokia, TelefonicaTrading conditions: US business performing well; APAC continues to grow; UK performing well outside consumer; and,Mainland Europe remains challenging

Business transition progressing; some bumps but good trajectoryAttracting major brands and higher level relationships through digital

*Organic growth excludes the impact of currency and acquisitions.33Financial headlinesAnother set of encouraging resultsRevenue up 11% to 45.3m (2011: 40.8m)EBITDA up 13% to 5.1m (2011: 4.5m)Adjusted PBT up 15% to 4.3m (2011: 3.7m)Adjusted diluted EPS up 12% to 4.35p (2011: 3.89p)Dividend up 10% to 0.565p (2011: 0.515p)

Net debt of 4.4m (2011: 2.7m) Earn out obligations of 12.6m (FY 2011: 15.3m)

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USEMEAAPACSan FranciscoLondonTokyoNew YorkParisHong KongWashingtonMunichBeijingBostonMilanShanghaiRochesterLos AngelesMadridAmsterdamKuala LumpurSingaporeStockholmNew DelhiCopenhagenMumbaiHelsinki*OsloJohannesburgBangaloreChennaiSydneySeoul*Tapei*Auckland*Office locations* Licensed partners2828Growth map H1 20126Revenue contribution by division interim s 2012Organic growth* rate by geography interims 2012Pure Digital and Research segment has doubled in relative scale compared to the interims 2011 *Organic growth excludes the impact of currency and acquisitions.US and Canada plus APAC still 68% of the groupTransition case study11

Established US consumer PR agency, M Booth & Associates32% organic revenue growth in last two yearsEarly collaboration with Beyond has led to development of in house digital expertiseRecent digital work and big client wins include : Foursquare and award winning work for AMEX as part of integrated core agency team

Old Next Fifteen: how we used to work8Pre digital, our services were defined by 3rd party mediaThis offered limited measurement and a client/ consumer relationship which was indirect and one-wayPR services were internationally scalable with effortSuccess was based on how much 3rd party content we could influence rather than value for clientRewards were retainer-based and driven by use of time and materialsIn FY 2010, 95% of revenues generated from this model

PR ClientConsumersPR the poor relation of the marketing services sectorKey client update: H1 20125RegionLossesWinsPure digitalUSHPJC PenneySalesforceVisaAngies ListAVGFoursquare, GEInternet SocietyNicira, NokiaSony Digital CameraYelpEMIEsuranceInformaticaNovartisNXPSalesforceUKBootsHPNokiaDaily Mail, Groupon, MozillaPlaytexAPACHPAdobeAmazon KindleDyson, InfosysNokiaEMEACreative Labs, Lithium,Telefonica*, TNTPhilips,A European Government * H2 2012Pure digital clients here are all new to the group with exception of Salesforce and NXP

5APPENDIX22Digital case study 112

YouTube : Pink Floyd. OVERVIEW: This YouTube channel gives fans the opportunity to join this concert every hour, on the hour to watch unreleased live performance of Dark Side of the Moon. The performance, coupled with original Pink Floyd screen films, exclusive footage, and real-time social feeds. The channel received 120,000 views in two day showing Sept 2011Digital case study 213

FACEBOOKAs part of preparing for its IPO, Facebook wanted to communicate its sustainability initiatives, which we helped bring to life with this INTERACTIVE infographic that allows you to share different sections of their green story through Facebook.

Income statement

15mH1 FY 2012H1 FY 2011Growth/ %Billings53.850.18Revenue45.340.811Adj Operating profit4.53.99Adjusted PBT4.33.715PBT2.72.57Tax(0.8)(0.8)Retained profit1.91.77EBITDA5.14.513Basic EPS2.82p2.79p1Diluted adj EPS4.35p3.89p12Dividend0.565p0.515p1015

Cash flow

mHY 2012HY 2011Inflow from op activities5.34.9Working capital (0.4)0.3Net inflow from operations4.95.2Tax(1.5)(1.8)Net capex(0.4)(1.0)Acquisitions(5.4)(4.2)Own shares-0.1Interest(0.2)(0.2)Dividends --Minorities(0.2)(0.1)Financing2.72.7(Dec)/increase in cash(0.1)0.7Net debt4.42.7Net inflow from operations represents 130% of Operating profit.

Acquisition payments predominantly in H1,

Dividends fall in H2.

16HighlightsOur transitionFinancialsSummaryAppendix Agenda7Segmental Revenue and Adj Operating ProfitmRevenue%Operating Profit%Technology PR30.166.54.465.2Consumer PR7.516.61.117.4Pure Digital & Research4.49.70.46.6Corporate Communications3.27.20.710.8Head Office(2.2)45.31004.51001818Contingent consideration and minority interestsProspective cash commitments : 2013 2016

27Cash commitments mFY 20131.7FY 20143.8FY 20154.5FY 2016 and beyond7.5The figures show undiscounted estimates, assuming that shares are issued in those acquisitions where they form part of the consideration.

Cash can be substituted for share consideration at Next 15 discretion. This could add a further 3.6m cash consideration over the next six years.27HighlightsOur transitionFinancialsSummaryAppendixAgenda20Interim 2012 in review4% organic revenue growth in a mixed global recoveryFull year profits before restructuring anticipated to be modestly ahead of management expectationsDigital transition progressing, some bumps which are being addressed10% dividend growth reflects management continuing confidence in future returns

OutlookNew business pipeline is encouraging, especially digital servicesCurrency impact remains a factor, mainly /$Continued organic investment in digital

21Summary21Next Fifteen investor snapshotWhat we do Provide PR and communications services designed to enable progressive brands to influence buyer behaviour using digital channels. Our belief Digital has become the most important channel for influencing buyer behaviour but is still in its relative infancy as an industryGrowth beyond Technology PR - Current revenue split: Tech PR 66%, Consumer PR 17%, Pure digital & Research consultancy 10% and corporate communications 7%.Global network, based in US - Strong base in San Francisco with global network of 51 offices in 18 countries. More than 50% of revenue and profit from US and less than 21% from UK.Material client relationships - Top 10 clients account for circa 28% of revenue, but none more than 6%, 17 clients generated more than 1m of revenue in FY11.Both organic and acquisitive growth - Group revenue increased by over 50% since 2006, driven by both good levels of organic growth and acquisitions.Modest gearing Net debt of 4.4m at 31 January 2012.Respected management team Long-serving, experienced team based in US and UK.

A digital communications group advantaged by its technology client base, US exposure and culture, poised for step change in growth and scale

2323Key clients, material relationshipsNext Fifteens top 10 clients represent around 28% of group revenue in first half FY12 (FY11: 30%)Half of top 10 clients held for more than 5 years17 clients generated revenues over 1m per annum in FY11

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24Group Structure

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25Recent trading historyItem2008200920102011Revenue63.1m65.4m72.3m86.0mAdjusted profit before tax6.58m5.25m6.61m8.39mAdjusted profit before tax margin %10.4%8.0%9.1%9.8%EBITDA7.4m5.5m8.4m10.7mNet cash from operating activities8.5m4.8m5.1m8.8mAdjusted diluted EPS8.51p6.46p7.53p8.74pDividend per share1.7p1.7p1.85p2.05p2626END29