Savills plc Results for the year ended 31 December 2015

1 10 March 2016

Disclaimer: Forward-looking statements

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.

2

Results

1

2

3

4

Introduction and

Highlights

Financial Review

Strategic Progress

Summary and Outlook

3

Highlights

4

Performance overview Drivers

Group revenue £1,283.5m

+19%

Group UPBT £121.4m

+21%

Transaction advisory revenues up 25%

Strong UK commercial, Asia Pacific and

US offset by weaker UK residential

US revenue growth of 71% (like-for-like

12%)

Several bolt-on acquisitions completed

Savills Investment Management growth

through SEB deal (AUM up 138% to

€17.1bn)

Group UEPS 63.2p

+14%

Net Cash £151.0m

-2%

Dividend 26.0p

+13%

Savills Diversified Business Model

5

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

Property management – 31%

Consultancy – 18%

Investment management – 3%

Commercial Transactions – 36%

Residential Transactions – 12%

• Recurring revenue streams less

exposure to transaction environment

• 2.04bn ft2 under management

• Strong UK consultancy business

• €17.1bn AuM

• High-return, but cyclical earnings

• 3:1 split Commercial vs. Residential

• 57:43 Commercial split Tenant

rep/leasing vs. Capital markets

48% 52%

Combination of cyclical and less cyclical service lines

Ten Year Revenues

6

-

200

400

600

800

1,000

1,200

1,400

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

£m

Transactional "Non-Transactional"

47%

53% 52%

48%

£243.5m £665.5m

Broad Geographic Spread

Over 30,000 employees in 700 offices in more than

60 countries

7

580 Employees

4,588 Employees

129 Offices

931 Employees

34 Offices

24,597 Employees

59 Offices

Revenue

£193m

(15% of Total)

Revenue

£560m

(44% of Total)

Revenue

£130m

(10% of Total)

Revenue

£401m

(31% of Total)

580 Employees

27 Offices

*Staff numbers - weighted average for 2015

Business Development

8

UK UK North

America Asia Pacific Europe Investment

Management

Acquisitions

New Offices

/ Teams

Smiths Gore

Rural property

management

Collier & Madge

Commercial

property

management

Residential Offices

Ealing, Earls Court

and Shoreditch

Aberdeen

Mixed services

New Offices

Phoenix, Dallas

Cordeau-Marshall

Sydney, Australia,

Residential Agency

& Property

Management

Pro-Directions

Christchurch, New

Zealand Project

Management

Cooper Brady

Tenant rep, Project

Management Silicon

Valley

Vertical

Integrations

Corporate Real

Estate, Tampa

KLG Advisors

Consultancy, NY

New Offices

Stuttgart, Barcelona

Sydney,

Chinatown

Residential

Taipei

2 new Residential

offices

Team lifts:

Singapore

Tenant rep, Valuation

Sydney

Valuation

Project Management

Pan-Region

Team lifts:

Amsterdam &

Frankfurt

Office Agency, Milan

Capital Markets

SEB Asset

Management

Frankfurt, Singapore

Real Facilities

Tenant rep - Toronto

Tagis

Amsterdam – Project

Management

New Offices

Hong Kong

Continuing positive trend in financial KPIs

9

722 806

905

1,078

1,284

-

200

400

600

800

1,000

1,200

1,400

2011 2012 2013 2014 2015

(£m

)

Revenue Underlying PBT ROCE1

50 59

75

101

121

-

20

40

60

80

100

120

140

2011 2012 2013 2014 2015 (£

m)

24

28 30

33 33

-

5

10

15

20

25

30

35

2011 2012 2013 2014 2015

(%)

7.0% 7.3%

8.3%

9.3% 9.5%

-

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

2011 2012 2013 2014 2015

(%)

Margin Underlying EPS DPS

29 34

43

55

63

-

10

20

30

40

50

60

70

2011 2012 2013 2014 2015

(pence)

9.5 10.0 10.5 11.0 12.0

4.0 6.0

8.5 12.0

14.0

-

5

10

15

20

25

30

2011 2012 2013 2014 2015

(pence)

Ordinary

Supplementary

1 Return on capital employed (ROCE) = EBIT / Average of opening and closing debt + equity

Financial Review

10

Summary Underlying Results

11

Year ended December (£ millions) 2015 2014 % chg

Revenue 1,283.5 1,078.2 +19%

Underlying profit before tax 121.4 100.5 +21%

Underlying PBT margin 9.5% 9.3% +0.2% pts

Underlying basic earnings per share 63.2p 55.2p +14%

Dividend per share 26.0p 23.0p +13%

Net cash 151.0 154.2 -2%

Net assets 365.0 330.3 +11%

67.8

18.6 23.4

4.4

76.9

21.1 24.7

10.9

0

10

20

30

40

50

60

70

80

90

+13% +6%

+148%

494.6

338.6

217.0

28.0

618.0

390.7

230.3

44.5

0

100

200

300

400

500

600

700

+15%

+6%

+59%

Revenue and underlying PBT by business

12

Revenue

Transaction

Advisory

Property

Management Consultancy

Investment

Management

UPBT

+25%

+13%

Margin 13.7% 12.4% 5.5% 5.4% 10.8% 10.7% 15.7% 24.5%

£m

2014 2015

* Excludes unallocated costs of £12.2m (2014: £13.7m)

Revenue and underlying PBT by region

13

502.4

355.0

112.3 108.5

560.1

401.1

192.5

129.8

0

100

200

300

400

500

600

Revenue

UK Asia Pacific United States

UPBT

+11%

Europe

65.1

34.7

12.4

2.0

71.7

34.2

18.8

8.9

0

10

20

30

40

50

60

70

80 +10%

+13%

+71% +20%

(1)%

+345%

+52%

£m

Margin 13.0% 12.8% 9.8% 8.5% 11.0% 9.8% 1.8% 6.9%

2014 2015

* Excludes unallocated costs of £12.2m (2014: £13.7m)

Cashflow performance

14

154 151

121 33

13

71 22

31 20

0

50

100

150

200

250

300

350

Net cash at 31-Dec-2014

UPBT Non-cash items Working capital Acquisition spend - current

& deferred

Capex Dividends paid Tax Net cash at 31-Dec-2015

Cash generated from operations of £141m

Commercial Transaction Advisory

15

2015 Revenue £460m (+34%) 2015 UPBT £56m (+26%)

Asia Pacific substantial market share growth in Hong Kong (“Shanghai-Hong Kong Stock Connect”)

UK Central London Investment and leasing markets remain strong. Continued strength in UK regional

investment

Europe constant currency growth in revenues of 22%, driven primarily by recovery in Germany

US like-for-like revenue growth of 12%. Expansion in tenant rep and occupier services

112 99

56

193

0

50

100

150

200

250

Asia Pacific UK Europe US

Growth +16% +17% +10% +71%

16 17

4

19

0

2

4

6

8

10

12

14

16

18

20

Asia Pacific UK Europe US

Growth (2)% +21% +208% +52%

Residential Transaction Advisory

16

2015 Revenue £159m (+5%) 2015 UPBT £21m (-11%)

UK impact of reduction in secondary sales revenue mitigated by strong performances in New Homes and PRS

sectors

Improving position in “Core London” market

Asia Pacific strong growth in revenues; expansion in Australia, good performance in Shanghai. Singapore

remains very weak including our mid market associate Huttons

31

128

0

20

40

60

80

100

120

140

Asia Pacific UK

Growth +41% (1)%

3

18

0

2

4

6

8

10

12

14

16

18

20

Asia Pacific UK

Growth (16)% (10)%

Property Management

17

2015 Revenue £391m (+15%) 2015 UPBT £21m (+13%)

Area under management decreased by 2% to 2.04bn sq ft (2014: 2.09bn sq ft)

Asia Pacific growth in Australia, Hong Kong, China and Singapore. Pricing pressure in Hong Kong

UK New commercial management contracts and growth in rural (Smiths Gore acquisition in May) and Central

London (Collier & Madge). Residential Management (incl Lettings) growth offset by expansion costs

Europe Underlying constant currency growth (22%). Acquisition of Tagis in the Netherlands. Restructuring

costs affecting profits in Sweden and Ireland

228

134

29

0

50

100

150

200

250

Asia Pacific UK Europe

Growth +10% +28% +9%

12 11

-2 -4

-2

0

2

4

6

8

10

12

14

Asia Pacific UK Europe

Growth +8% +15% +8%

Consultancy

18

2015 Revenue £230m (+6%) 2015 UPBT £25m (+6%)

UK strong performances in Building, Planning and Housing & Healthcare, offset by flat performance from

valuations and expansion costs

Asia Pacific strong performance in Hong Kong, growth in Vietnam and Japan offset by weaker demand for

feasibility studies in China and expansion costs in Australia and Singapore

Europe small reductions in business in Germany against a strong comparable

183

31 16

0

20

40

60

80

100

120

140

160

180

200

UK Asia Pacific Europe

Growth +9% +3% (12)%

22

2 1

0

5

10

15

20

25

UK Asia Pacific Europe

Growth +12% (15%) (50)%

Investment Management

19

2015 Revenue £45m (+59%) 2015 UPBT £11m (+148%)

Fee income substantially improved through acquisition of SEB (31st August)

Assets under management increased by 138% to €17.1bn (2014: €7.2bn)

Profits substantially improved to £10.9m (“Potsdamer Platz” effect)

Rebranded from “Cordea Savills” to “Savills Investment Management”

Transactions of c. €4.1bn executed on behalf of investors and €1.7bn new capital raised

17

28

0

5

10

15

20

25

30

UK Europe

Growth

4

7

0

1

2

3

4

5

6

7

8

UK Europe

Growth +132% +4% 247% 72%

Strategic Progress

20

Key Achievements in 2015

21

2015 performance Trends

Commercial Commercial

Consultancy / Property

management

Investment Management

Transactional

Strong Commercial performances across the Globe

Resilient Residential performance

A step shift in performance, coverage (Asia) and AUM

Strengthened transactional/capital raising capability

Strong PM performance

Expansion of Consulting teams in a number of markets

Studley integrated and further bolt-on

transactions completed in the US

Management Activity and Focus

22

2016 Focus

Increased resource and performance

from cross-border investment and

occupier service teams

Further office openings and market

share gains in Core London

Malaysia acquired, India opened,

Philippines in train

SEB acquisition completed plus

selective hires

Recruitment/Bolt on business

development

2015 Management Delivery

Continuation of cross border focus

Selective growth in Core market

Philippines and India

Disposal of liquidating SEB funds.

Consider US expansion

Retain current expectations for the full year

Record Performance in 2015 with a good start to 2016

Summary and Outlook

UK: Brexit and stamp duty

Occupier demand positive

Europe: offers value

23

Asia: resilience of our business model

Connecting people and

property since 1855