Savills plc

Results for the six months ended 30 June 2018

9 August 2018

Disclaimer: Forward-looking statements

2

These slides contain certain forward-looking statements including the Group’s financial condition,

results of operations and business, and management’s strategy, plans and objectives for the Group.

These statements are not guarantees of future performance and are subject to risks, uncertainties and

other factors, some of which are beyond the Group’s control, are difficult to predict and could cause

actual results to differ materially from those expressed or implied or forecast in the forward-looking

statements. These factors include, but are not limited to, the fact that the Group operates in a highly

competitive environment. All forward-looking statements in these slides are based on information known

to the Group on the date hereof. The Group undertakes no obligation publically to update or revise any

forward-looking statements, whether as a result of new information, future events or otherwise.

Results

1 Introduction, Highlights & Business Development 2 Financial Review 3 Management Focus 4 Summary and Outlook

3

Highlights

4

Group Revenue £727.8m

+1.9% (cc 4.8%)

Group UPBT £42.4m

-11.9% (cc -9.6%)

Strong Continental European

performance

Robust performance from UK

Residential business

Commercial Transaction advisory

revenues flat

Property Management revenue up 7%,

Consultancy revenue up 4%

Continued investment in Middle East,

PM business and (post period) Real

Estate Debt Investment Management

Group UEPS 23.4p

-8.9%

Net (Debt) / Cash £(94.6)m

(2017 H1: £1.4m)

Dividend 4.80p

+3.2%

cc = constant currency

Savills Diversified Business Model

5

Defensive, Scale Businesses Revenue by Business Cyclical, High-Margin Businesses

Property Management – 36%

Consultancy – 17%

Investment Management – 4%

Commercial Transactions – 33%

Residential Transactions – 10%

• Recurring revenue streams with less

exposure to transaction environment

• 1.89bn ft2 under management

• Strong Property Management business

• €16.2bn AUM

• High-return, but cyclical earnings

• 76:24 split Commercial vs. Residential

• 62:38 Commercial split Tenant rep/leasing

vs. Capital markets

43%(2017-H1: 44%)

57%(2017-H1: 56%)

Combination of cyclical and less cyclical service lines

Broad Geographic Spread

6

Over 31,000 employees in 700 offices in more than 60 countries

580Employees

5,780Employees

126Offices

1,625Employees

44Offices

27,711Employees

66Offices

Revenue

£100.3m

(14% of Total)

794Employees

31Offices

*Staff numbers –

As at 30th June 2018

Revenue

£280.5m

(39% of Total)

Revenue

£96.6m

(13% of Total)

Revenue

£250.4m

(34% of Total)

Over 36,000* employees and over 600 offices in more than 60 countries

187Employees

7Offices

Savills UK & Europe – 5 year Snapshot

7

Focus on building Continental European

Platform through bolt-on and selective

acquisition

Enhanced transactional teams and cross-

border liaison network (team lift/recruitment)

Diversification of service lines into Less

Transactional businesses (eg Project Mgmt)

Building of Property Management business to

sustainable profitability (scale)

Extend network into CEE (Prague) and Middle

East (Cluttons)

2013 2014 2015 2016 2017

Revenues (2013 to 2017)

£518m

£583m

£645m£683m

£748m

Broadgate Estates – Case Study

8

Established 32 years ago and became premier Property

Management business in UK

Specialist in Office, Retail and Residential sectors

21 million sq. ft under management with International client base

28 iconic properties, primarily in London

166 London based staff

Global positioning and track record

Middle East – Case Study

9

Acquisition of Cluttons Middle East,

Established 40 years ago

Leading Consultancy business in the region

with 190 employees

Full service offer including Valuation, Property

Management, Sales & Leasing

66% of revenues less-transactional

Strong ME activities with expansion

opportunities

Global linkage East and West, through cross

border activity through Savills network

Cairo

Saudi

Arabia

Bahrain

Abu

Dhabi

Oman

Sharjah

Dubai

Financial Review

10

Summary Underlying Result

11

6 months ended 30 June (£m) 2018 2017 % chg

Revenue 727.8 714.4 +1.9%

Underlying PBT 42.4 48.1 (11.9)%

Underlying PBT margin 5.8% 6.7% (0.9)% pts

Underlying basic earnings per share 23.4p 25.7p (8.9)%

Dividend per share 4.80p 4.65p 3.2%

Net (debt) / cash (94.6) 1.4 n/a

Net assets 432.3 382.8 12.9%

Revenue and underlying PBT by business

12

312.1

246.6

121.0

33.6

311.3

263.7

125.8

27.0

0

50

100

150

200

250

300

350

2017

2018

+7%

+4%

(20)%

Revenue

24.6

10.2 10.2

6.6

19.7

12.810.8

2.9

0

5

10

15

20

25

30

+25% +6%

(56)%

Transaction

Advisory

Property

Management Consultancy

Investment

Management

UPBT

0%

(20)%

Margin 7.9% 6.3% 4.1% 4.9% 8.4% 8.6% 19.6% 10.7%

£m

The figures in these charts

exclude revenues of £1.1m in

2017-H1 and other net costs

of £3.8m in 2018-H1 (2017-

H1 £3.5m) not allocated to the

operating activities of the

group’s business segments

Revenue and underlying PBT by region

13

274.2263.5

103.6

72.0

280.5

250.4

100.3 96.6

0

50

100

150

200

250

300

2017

2018

Revenue

UK Asia Pacific North America

UPBT

+2%

Continental Europe

25.3

21.8

3.01.5

23.7

18.6

0.63.3

0

5

10

15

20

25

30 +(6)%

(5)%

(3)% +34%

(15)%

+120%(80)%

£m

Margin 9.2% 8.4% 8.3% 7.4% 2.9% 0.6% 2.1% 3.4%

The figures in these charts

exclude revenues of £1.1m in

2017-H1 and other net costs

of £3.8m in 2018-H1 (2017-

H1 £3.5m) not allocated to the

operating activities of the

group’s business segments

99

(95)

(150)

(100)

(50)

-

50

100

150

Net debt b/f UPBT Non-cashitems

Workingcapital

Acquisitionspend -

current &deferred

Capex Cash flowfrom

investments

EBT Dividends Tax Foreignexchange

Net debt c/f

Cashflow performance

14

Cash used in operations of £77m

At 30 June 2018 - Net debt of £94.6m

(net cash outflow in H1 of £194m)

At 30 June 2017 - Net cash of £1.4m

(net cash outflow in H1 of £187m)

42 1

118

9

10

17 35

18 5

£m

53

Net cash

Net debt

Overdrafts

RCF

PP

Capital Structure

15Note – borrowings exclude finance leases

30 June 2018

Borrowings Headroom

£178.3m

£96.4m

£253.0m

£293.7m

Borrowings and Headroom at 30 June, 2017 vs 2018

£m

On 20 June 2018 the Group issued

£150m of fixed rate Senior Notes via

Private Placement to US investors

7 year, 10 year and 12 year notes

issued

Weighted average duration of 10.2

years and weighted average interest

rate of 3.18%

Proceeds used to pay down existing

RCF debt, replacing short term

variable rate borrowings with long

term fixed rate debt

Significant levels of bank facility

headroom for strategic growth and

working capital requirements

30 June 2017 30 June 201830 June 2017

Commercial Transaction Advisory

16

2018 Revenue £235.4m (-1%) 2018 UPBT £10.7m (-34%)

Asia Pacific continued strength in Hong Kong and Korea, timing of transactions in Australia, Japan and China, with robust

pipeline going into the second half.

UK subdued volumes against strong comparative, due to lower stock availability and weakness of retail sector.

Europe impact of recent acquisitions including Aguirre Newman and organic growth in Ireland, Germany, the Netherlands

and Sweden.

North America growth in revenues of 5% in constant currency, continued investment in New York capital markets and

occupier services platform.

59.7

33.941.5

100.3

-

20

40

60

80

100

120

Asia Pacific UK Europe North America

Growth (12)% (14)% +57% (3)%

5.7

2.8

1.6

0.6

-

1

2

3

4

5

6

Asia Pacific UK Europe North America

Growth (41)% (38)% n/a (80)%

Residential Transaction Advisory

17

2018 Revenue £75.9m (+1%) 2018 UPBT £9.0m (+8%)

UK new development sales up 17%; strength in regional development.

UK second-hand sales down marginally due to fewer exchanges, however average values ahead of last year.

Asia Pacific Hong Kong and China remain resilient but slow down in Australia.

58.2

17.7

0

10

20

30

40

50

60

70

UK Asia Pacific

Growth +6% (12)%

6.3

2.7

-

1

2

3

4

5

6

7

UK Asia Pacific

Growth +17% (7)%

Property Management

18

2018 Revenue £263.7m (+7%) 2018 UPBT £12.8m (+25%)

Asia Pacific Continued focus on profitability and contract wins.

UK revenue growth offset by platform investment costs (regulatory/client service centre) in advance of future growth (eg

Broadgate Estates).

Europe revenue growth from Aguirre Newman and Larry Smith acquisitions, organic revenues up 9%.

148.8

84.0

30.9

-

20

40

60

80

100

120

140

160

Asia Pacific UK Europe

Growth (1)% +10% +55%

8.1

4.9

(0.2)(1)

-

1

2

3

4

5

6

7

8

9

Asia Pacific UK Europe

Growth +31% (2)% +80%

Consultancy

19

2018 Revenue £125.8m (+4%) 2018 UPBT £10.8m (+6%)

UK strong performances in housing and development teams.

Asia Pacific strong performance in Singapore. Slight decline in valuation revenues in other markets.

Europe Organic revenue growth of 12% plus positive impact of Aguirre Newman acquisition.

93.0

20.712.1

0

10

20

30

40

50

60

70

80

90

100

UK Asia Pacific Europe

Growth +2% (6)% +66%

8.5

1.7

0.6

0

1

2

3

4

5

6

7

8

9

UK Asia Pacific Europe

Growth +6% (35)% n/a

Investment Management

20

2018 Revenue £27.0m (-20%) 2018 UPBT £2.9m (-56%)

Revenues reduced as anticipated (reduction in SEB liquidating assets vs 2017).

Assets under management increased by 1% to €16.2bn (H1 2017: €16.0bn) with £0.7bn capital raised.

Launched Japan II, SIM’s largest first fund close.

In July announced investment in DRC Capital LLP, a leading European Real Estate Debt Fund Manager.

11.412.1

3.5

-

2

4

6

8

10

12

14

UK Europe Asia Pacific

Growth

1.21.3

0.4

-

0.2

0.4

0.6

0.8

1.0

1.2

1.4

UK Europe Asia Pacific

Growth(34)%(5)% (66)%(50)%+6% n/a

Management Progress

21

Integrate new acquisitions in the UK and Middle East

Continued growth of US business and profit improvement

22

Build Property Management, Consultancy and Investment Management businesses

Pursue Continental Europe/Middle East growth strategies

Management Focus

Resilient first half performance

Outlook for less transactional revenue remaining healthy

23

Continued uncertainty (markets, geo-political risks and rising interest rates), affecting transaction volumes

Summary and Outlook

The Board’s expectation for 2018 remains unchanged.

Connecting people and

property since 1855