AGM Trading Update - April 2024

Regulatory News:

News release
25 April 2024

AGM TRADING UPDATE

RELX, the global provider of information-based analytics and decision tools, has issued the following update on trading ahead of the Annual General Meeting, reaffirming the outlook for the full year.

Highlights RELX has started the year well across all four business areas. The 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 across market segments. Full year outlook The full year outlook is unchanged: 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.

Risk (34% of 2023 revenue)

• Strong underlying revenue growth continues to be driven by our deeply embedded analytics and decision tools across segments. Business Services growth continues to be driven by Financial Crime & Compliance and digital Fraud & Identity solutions, and Insurance continues to be driven by the further development and extension of solution sets across insurance markets.
• Full year outlook: We expect continued strong underlying revenue growth with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.

Scientific, Technical & Medical (33% of 2023 revenue)

• Good underlying revenue growth continues to be driven by the evolution of the business mix towards higher growth segments. Databases, Tools & Electronic Reference growth continues to be driven by higher value-add analytics and decision tools, and Primary Research Academic & Government continues to be driven by volume growth.
• Full year outlook: We expect continued good underlying revenue growth with underlying adjusted operating profit growth slightly exceeding underlying revenue growth.

Legal (20% of 2023 revenue)

• Strong underlying revenue growth continues to be driven by a shift in business mix towards higher growth integrated legal analytics. The roll-out of Lexis+AI, our new platform leveraging value-enhancing generative AI functionality, continues to go well. Renewals and new sales remain strong.
• Full year outlook: We expect continued strong underlying revenue growth with underlying adjusted operating profit growth exceeding underlying revenue growth.

Exhibitions (12% of 2023 revenue)