#1B intertek STRONG PROGRESS IN REVENUE, MARGIN, EARNINGS AND CASH 2021 FULL YEAR RESULTS PRESENTATION 01 March 2022#2CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements with respect to the financial condition, results, operations and business of Intertek Group plc. These statements and forecasts involve risk and uncertainty because they relate to events and depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements and forecasts. Nothing in this presentation should be construed as a profit forecast. 1 March 2022 /17. *********** 2 in#301 Performance Highlights 02 2021 Financial Results 03 Business Lines Review 04 Growth Outlook 05 Sustainability Excellence in#4STRONG PROGRESS IN REVENUE, MARGIN, EARNINGS AND ROIC YoY (Constant rates) Revenue Like-for-like revenue Operating Profit¹ Operating Margin¹ EPS¹ Dividend ROIC ROIC Organic Financial net debt Financial Net debt / EBITDA¹ Note: (1) Before separately disclosed items 2021 £2,786.3m £2,744.0m £473.9m 17.0% 190.8p 105.8p 18.2% 24.4% £733.3m 1.1x 2020 £2,741.7m £2,721.6m £427.7m 15.6% 170.9p 105.8p 21.6% 21.6% £419.9m 0.7x 6.5% 5.6% 15.4% 130bps 16.8% (270bps) 350bps YoY (Actual rates) 1.6% 0.8% 10.8% 140bps 11.6% (340bps) 280bps in 4#5BROAD BASED LFL GROWTH IN H2 Products Trade Resources Group LfL FY¹ 1.7% 3.0% Note: (1) At 2021 constant currency rates 5.6% 7.6% Products Trade Resources Group LfL H2¹ 5.8% 4.8% 5.1% 5.5% Products Trade Resources Group LfL Nov-Dec¹ in 6.4% 6.9% 5.9% 6.4% 5#6H2 GROUP OPERATING PROFIT AND MARGIN AHEAD OF 2019 Group Products Trade Resources Note: (1) Before separately disclosed items 15.5% 2014 FY 2.2% 15.9% 16.0% LFL Revenue 2014-2021 Group Margin H1 (1.1%) (2.2%) 2015 2016 2017 2018 2019 2020 2021 1.0% 2021 performance comparison versus 2019 at CCY H2 16.9% 3.3% (7.5%) (9.4%) (5.5%) 17.2% 17.5% FY Operating Profit¹ (4.0%) (32.8%) H1 3.4% (4.6%) (4.5%) (3.8%) (5.2%) (26.1%) 15.6% (14.0%) (50.7%) 17.0% H2 10.4% FY 5.0% (60bps) Margin H1 H2 (190bps) 50bps 10bps (80bps) 80bps (12.3%) (330bps) (600bps) (80bps) (25.7%) (26.5%) (140bps) (140bps) (150bps) in 6#7HIGHLY CASH GENERATIVE EARNINGS MODEL DELIVERS <0 WC 16-21 CAGR: 5.2% £499m Adjusted EBITDA¹ £563m £571m 7.1% £696m FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 YOY: 6.9% 5.0% Working Capital as % of Revenue 3.9% £602m 3.4% £643m FY 16 FY 17 FY 18 FY 19 16-21: (870bps) -0.1% FY 20 -1.6% Adjusted Cash Generated from Operations¹ 16-21 CAGR: 4.2% £565m £596m £603m FY 16 139% FY 17 128% FY 21 YOY: (150bps) Note: (1) IFRS 16 was adopted on 1 Jan 19 and as such results prior to 2019 are on an IAS 17 basis Cash Conversion (%) 149% £731m £705m £696m FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 YOY: (1.3%) 126% 127% 132% FY 18 FY 19 FY 20 FY 21 16-21 CAGR: 3.4% £359m £340m Adjusted Free Cash Flow¹ £436m 1.5x FY 16 £373m 1.0x FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 YOY: (7.8%) FY 17 Financial Net Debt / Adjusted EBITDA £395m 1.4x FY 18 0.9x FY 19 in 0.7x S FY 20 £402m 1.1x FY 21 7#8SCALING UP OUR LEADING GLOBAL ASSURANCE BUSINESS WITH SAI ● SAI GLOBAL Assurance Headquartered in Sydney, Australia Largest jurisdictions include Australia, US, Canada, UK and China More than 70,000 Customers Note: (1) June Year-End Complementary Services Expands Agriculture & Food Industry Supply Chain Expands Intertek Sustainability Solutions portfolio through new programs, like Forestry Responsible Care certification (RC14001) Gain additional Global Market Access capabilities with the Standards business in Financial Guidance 2021E¹ revenue of A$240m and 23% adjusted EBITDA margin Expected to deliver robust organic growth Targeting 300bps+ of margin accretion over 3 years Expected to be EPS accretive from the first full year ROIC/WACC cross-over by year 5 8#9ENTERING THE ATTRACTIVE FOOD MARKET IN BRAZIL WITH JLA Established in 1990, JLA is a Brazil based Food, Agri and Environmental testing business • The Company provides microbiological, chemical testing and inspections with more than 170 employees Portfolio of services Food AgroSciences Environmental ● • Microscopic analysis Microbiologic analysis Physicochemical analysis Residue monitoring Sensorial analysis Origin certification Container inspection for exports Residue monitoring Multi mycotoxin analysis Organic composites analysis Metals analysis Microbiologic analysis Physicochemical analysis Residue monitoring Sensorial analysis Organic and inorganic composition analysis Analysis at clients' sites Locations Tupã Marília Bauru Mirassol Campinas JLA Brazil's lab network in São Paulo São Paulo Santos in Laboratories Sample collections 9#1001 Performance Highlights 02 2021 Financial Results 03 Business Lines Review 04 Growth Outlook 05 Sustainability Excellence in#11KEY P&L FINANCIALS Revenue Like-for-like revenue¹ Operating profit² Operating profit margin² Diluted earnings per share² 2021 £2,786.3m £2,744.0m £473.9m 17.0% 190.8p Actual Rates 1.6% 0.8% 10.8% 140bps 11.6% YOY % Constant Rates 6.5% 5.6% 15.4% 130bps 16.8% in Notes: (1) Like-for-like revenue includes acquisitions following their 12-month anniversary of ownership and removes the historical contribution of any business disposals/closures; (2) Before separately disclosed items 11#12OPERATING MARGIN BRIDGE 18.0% 17.0% 16.0% 15.0% 14.0% 13.0% 15.6% FY 2020 90bps Products 20bps (20bps) 110bps at constant rates Trade Resources 20bps Divisional mix 16.7% Excluding FX and Acquisitions & Disposals 20bps Acquisitions & Disposals 10bps FX 17.0% FY 2021 in S 12#13CASH FLOW & NET DEBT £m @ actual exchange rates Adjusted operating profit¹ Depreciation/amortisation Change in working capital Other² Adjusted cash flow from operations Net capex Other³ Adjusted free cash flow Cash conversion %4 Acquisitions Financial net debt Financial net debt/Adjusted EBITDA (rolling 12 months) 2021 473.9 169.3 35.9 16.7 695.8 (96.1) (197.9) 401.8 132% (480.9) 733.3 1.1x 2020 427.7 174.0 88.6 14.8 705.1 (72.2) (197.3) 435.6 149% 419.9 0.7x in Notes: (1) Before separately disclosed items; (2) Comprises: special pension payments, add back equity settled transactions and other non-cash items; (3) Comprises: interest paid/received and tax, lease liability repayment; (4) Adjusted operating cash flow as % of adjusted operating profit. Adjusted operating cash flow comprises: adjusted cash flow from operations less the lease liability repayment and after adding back the special pension payments 13#14FINANCIAL GUIDANCE Net finance cost (pre-fx) Effective tax rate Minority interest Diluted shares (as at 31 December 2021) Capex Financial Net Debt¹ Note: (1) Net debt guidance before any material change in FX rates and any M&A FY 2022 Guidance £35-39m 26.5-27.0% £20-22m 161.9m £135-145m £640-690m in 14#1501 Performance Highlights 02 2021 Financial Results 03 Business Lines Review 04 Growth Outlook 05 Sustainability Excellence in#16STRONG PRODUCT PERFORMANCE IN H2 Revenue (£m) 936 820 +14% H1 21 Softlines Hardlines H2 21 Electrical & Connected World Operating profit (£m) Note: (1) FY20 & FY19 at FY21 FX rates. H1 21 Actuals Double-digit Double-digit 171 Double-digit H1 21 +34% 229 H2 21 H2 21 Actuals Mid single-digit High single-digit Mid single digit Operating Profit Margin¹ 20.9% FY21 Actuals Double-digit Double-digit 16 H1 21 High Single-digit +350 bps 24.4% H2 21 Demand for sustainable products Demand for more sustainable procurements Innovations from our clients in greater connectivity CCY¹ Revenue Like-for-like Revenue Adjusted Operating Profit Adjusted Operating Margin Growth Drivers Focus on more resilient and sustainable supply chains Innovations from our clients Cybersecurity and loT Assurance 21 vs 20 9.1% 7.6% 18.0% 180bps 21 vs 19 2.9% 2.2% S 3.4% 10bps E-commerce Innovative inspection technology E-commerce 16#17STRONG PRODUCT PERFORMANCE IN H2 Business Assurance Building & Construction Transportation Technology Food Chemicals and Pharma INNOVATIONS H1 21 Actuals Double-digit Low-single-digit negative Mid-single-digit negative Double-digit Double-digit intertek H2 21 Actuals High single-digit Low single-digit Mid single-digit High single-digit Double-digit FY21 Actuals Double-digit Stable Low-single-digit negative Double-digit Double-digit inlight2.0 ACCESSCHECK Increased focus of corporations on supply chain resilience and risk management Growth Drivers Growing demand for greener, safer and higher quality commercial buildings New product launches Innovations for healthier food intertek protek FACILITY HEALTH MANAGEMENT Expansion of supply base in Emerging Markets Investments in greener transportation solutions intertek Sustainability ev in Increased focus on ethical and sustainable supply Increased investment in large infrastructure projects GLOBAL CENTRE OF EXCELLENCE Increased Assurance demand for safe and sustainable supply chains Increased focus on Health & Safety and traceability Increased regulation 2 intertek source clear Visible. Traceable. Sustainable. 17#18H2 GROWTH ACCELERATION IN TRADE Revenue (£m) +7% 278 H1 21 Caleb Brett Government & Trade Services AgriWorld INNOVATIONS 297 H2 21 H1 21 Actuals Operating Profit (£m) Low-single-digit negative Mid single-digit Mid single-digit Note: (1) FY20 & FY19 at FY21 FX rates. intertek 20 +57% H1 21 32 H2 21 H2 21 Actuals Mid single-digit Low-single-digit negative Double-digit tradeable FY21 Actuals Operating Margin¹ 7.2% Double-digit Low single-digit H1 21 Low single-digit +340 bps 10.6% H2 21 Award of new contracts intertek fasttek CCY Revenue Like-for-like Revenue Adjusted Operating Profit Adjusted Operating Margin Global and regional trade structural growth drivers Growth Drivers The expansion of our clients' supply chains in fast growing markets GDP growth 21 vs 20 2.8% 3.0% 17.3% 110bps RICE EXC 21 vs 19 (7.6%) (7.5%) GE (32.8%) Increased transport infrastructure (330bps) in Population growth New customer wins 18#19H2 GROWTH ACCELERATION IN RESOURCES Revenue (Em) 220 H1 21 +7% Capex Inspection Opex Inspection Minerals 236 H2 21 INNOVATIONS Operating Profit (£m) Note: (1) FY20 & FY19 at FY21 FX rates. 11 H1 21 H1 21 Actuals Low-single negative Stable Mid single-digit +11% 12 H2 21 H2 21 Actuals Stable Mid single-digit Double-digit intertek risk Aware Operating Margin¹ 4.9% H1 21 +10 bps FY21 Actuals Low-single-digit negative Low single-digit High single-digit 5.0% H2 21 Demand for energy Capacity utilisation Minerals demand intertek wind aware CCY¹ Revenue Like-for-like Revenue Adjusted Operating Profit Adjusted Operating Margin Growth Drivers Asset productivity Ageing of equipment Technological innovation 21 vs 20 1.6% 1.7% (18.7%) (120bps) in 21 vs 19 (5.0%) MINERALS CENTRE OF EXCELLENCE PERTH S (4.5%) (26.1%) (140bps) Technological innovation Asset productivity Outsourcing 19#2001 Performance Highlights 02 2021 Financial Results 03 Business Lines Review 04 Growth Outlook 05 Sustainability Excellence in#21in COVID-19 HAS MADE THE CASE FOR TOTAL QUALITY ASSURANCE STRONGER (in) mill 14 CORTE paffi $50BN Currently outsourced $200bn Currently in-house Untapped potential GLOBAL ATIC MARKET CLIENTS HAVE REALISED THE NEED TO INCREASE THEIR INVESTMENTS IN QUALITY ASSURANCE 21#2287%* OF COMPANIES WILL INVEST TO STRENGTHEN THEIR OPERATIONS Resilient Supply Chains Covid-19 proving a catalyst for corporations to improve the resilience of their supply chains Product and Service Innovation Increased corporate focus on quality, safety, sustainability, convenience and value for money to enhance their products and services Sustainability Corporations reinventing the way they reduce their carbon footprint and communicate externally *Gartner 2021 G LCHURCH AYA THE S#23WE EXPECT THE INDUSTRY TO GROW FASTER POST COVID-19 PRODUCTS ATIC 63% OF REVENUE¹ 84% OF PROFIT¹ Growth in Brands, SKUs & e-Commerce Increased focus on safety, performance and quality Higher demand for healthy & sustainably sourced products ATIC Risk-based quality assurance GDP+ Note (1): Based on FY21 Faster innovation cycle Increased demand for Smart products Emerging Markets growing Middle Class Increased regulation TRADE ATIC 21% OFREVENUE¹ 11% OF PROFIT¹ GDP GROWTH Population Growth & social mobility Development of regional trade Increased need for end to end traceability Health, Safety and Wellbeing GDP growth Improvements in transport infrastructure People Assurance Increased Focus on Operational Sustainability CORPORATE ASSURANCE RESOURCES ATIC 16% OFREVENUE¹ 5% OF PROFIT¹ Supply Intelligence & Resiliency LONG-TERM GROWTH Population Growth & social mobility Total Energy with diversified portfolio Increased Focus on Operational Sustainability Corporate Sustainability GROWTH OUTLOOK: GDP+ LIKE FOR LIKE REVENUE GROWTH IN REAL TERMS S Investment in E&P, Storage & Transportation Accelerated transition to renewable energies Digital Supply chain management Enterprise Cyber-security 23#24WE ARE INVESTING IN INNOVATION TO SUPPORT OUR CLIENTS BREAKTHROUGH Develop new breakthrough products and services ADJACENT Develop new products and services Create new markets, target new customer needs Strengthen existing products and services Enter adjacent markets, serving adjacent customers CORE Serve existing markets and customers in BREAKTHROUGH INNOVATIONS Ground-breaking solutions to create new markets INNOVATIONS IN ADJACENT SEGMENTS Expanding into fast growing and high margin areas INNOVATIONS FROM THE CORE Building on the strengths of existing products and services ENABLING OUR CUSTOMERS TO THRIVE IN A MORE DEMANDING COMPLEX WORLD#25WE ARE SUCCESSFULLY SCALING UP OUR INVESTMENTS IN GROWTH CONNECTED WORLD ΝΤΑ EWA M&A INVESTMENTS ACUMEN SECURITY SUSTAINABILITY ABCAnalitic Veracidad que Genera Confianza. ⒸKJTECH GEOGRAPHIC EXPANSION DIC Dansk Institut for Certificering AIS 2 PROASEM ADELAIDE INSPECTION psi AAS MT Group SAI GLOBAL AUDITING CERTIFICATION TRAINING SAAS PLATFORMS alchemy wisetail intertek ontrack FOOD & HOSPITALITY CHECKSAFETYFIRST HOTELS THAT CARE ABOUT YOUR HEALTH FIT-Italia Food International Trust INTERTER G TOTAL PERNAPALITY TOTAL SUSTAINABILITY ASSURED (in) MAISON ORGANIC INNOVATIONS protek Safety. Everywhere. Every day. intertek pipeAware intertek source clear Visible Traceable Sustainable intertek cyber assured intertek carbon clear intertek inview in x alchemy ox playbook intertek S intertek fasttek intertek inlight2.0 interpret 25#26GROUP OUTLOOK 2022 Robust LFL Revenue growth at CCY Margin progression year-on-year Strong free cash flow Capex: £135-145m FX impact: Neutral Financial net debt: £640-690m¹ Note (1): Before any material change in FX and any M&A h 26#2701 Performance Highlights 02 2021 Financial Results 03 Business Lines Review 04 Growth Outlook 05 Sustainability Excellence in#28WE ARE AN AMAZING FORCE FOR GOOD OUR PURPOSE Bringing Quality, Safety and Sustainability to Life OUR VISION To be the world's most trusted partner for Quality Assurance OUR VALUES We are a global family that values diversity We always do the right thing. With precision, pace and passion We trust each other and have fun winning together We own and shape our future We create sustainable growth. For all Footer He in 28 S#29HELPING OUR CLIENTS BUILD STRONGER BUSINESSES C 007 OUR CUSTOMER PROMISE Total Quality Assurance expertise, delivered consistently with precision, pace and passion, enabling our customers to power ahead safely Ge GGY CAPITALISING ON INTERTEK SCIENCE-BASED CUSTOMER EXCELLENCE n ហ 29#30OFFERING LEADING END-TO-END SUSTAINABILITY ASSURANCE INTERTEK OPERATIONAL SUSTAINABILITY SOLUTIONS Helping organizations achieve sustainability excellence Life Cycle Assessment Product & Packaging Stewardship Circular Economy Eco-Claims & Certification Systemic End-to-End Sustainability Solutions ហ intertek sustainability Value Chain Resilience Sustainability Auditing Substance Disclosure intertek protek Every day. Environmental solutions Safety. Everywhere. Intertek ESG Audit Independent audit of sustainability disclosures and reporting Independent verification Insights Analysis Risk Assessment INTERTEK INTERTEK CORPORATE SUSTAINABILITY CERTIFICATION in SUSTAINABILITY TOTAL TOTAL SUSTAINABILITY. ASSURED. Certify corporate sustainability programmes Quality & Safety People & Culture Communities Governance Risk Management Compliance Financial S intertek sustainability Environment Enterprise Security Communication & Disclosures 30#31SUSTAINABILITY EXCELLENCE ACROSS ALL INTERTEK OPERATIONS SUSTAINABILITY CENTRAL TO OUR 5X5 STRATEGY Note (1): Based on FY21 TOTAL INTERTEK AL SUSTAINABILITE QUALITY & SAFETY INTERTEK O TOTAL SUSTAIN RISK MANAGEMENT INTERTEK TOTALITY ENTERPRISE SECURITY INTERTEK END-TO-END SYSTEMIC SUSTAINABILITY APPROACH TOTAL BILITY COMPLIANCE PURPOSE-LED ORGANISATION • Force for Good for over 130 years Bringing Quality, Safety and Sustainability Life is our purpose • Sustainability central to everything we do • Tremendous community support • Local team empowerment and accountability 5 Strategic Priorities E Differentiated TQA Brand Proposition Superior Customer Service Effective Sales Strategy Growth and Margin Accretive Portfolio Operational Excellence ● ● ● TOTAL INTERTEK SUSTAINABILITY ENVIRONMENT INTERTEK n TOTAL SUSTA PEOPLE & CULTURE LOWER CO2 EMISSIONS Targeting Net Zero emissions by 2050 Yearly management incentive Continuous progress on carbon intensity reductions Carbon intensity scorecard for every operation Joining the UN Race to Zero campaign INTERTEK O TOTAL SUSTA COMMUNITIES 5 Enablers ● Living Our Customer Centric Culture Disciplined Performance Management Superior Technology 907 From Energising Our People TOTAL Delivering Sustainable Results INTERTEK SUSTAINABILITY GOVERNANCE BEYOND NET ZERO TARGETS 6,000 NPS interviews per month Women in senior management 30% by 2025 Total Recordable Incidents <0.5 per 200,000 hours worked Compliance training attendance 100% Voluntary permanent turnover rate < 15%. Group Engagement Index 90% INTERTEK TOTAL SUSTAINABILITY FINANCIAL TOTAL INTERTEK LITY COMMUNICATIONS & DISCLOSURES in S 31#32WE ARE AN AMAZING FORCE FOR GOOD, DELIVERING GROWTH FOR ALL Our USP Our Services Our Sectors Our Mid- to Long-Term Value Creation Our Stakeholders SCIENCE-BASED CUSTOMER EXCELLENCE IN QUALITY, SAFETY & SUSTAINABILITY Assurance Products Employees GDP+ GDP+ Organic revenue growth in real terms ..... ... Testing Margin accretive revenue growth Customers 며. Trade Suppliers GDP growth Intertek Virtuous Economics Inspection Strong free cash flow Regulators Disciplined capital allocation Certification Resources intertek 謝 Shareholders Long-term growth Investments in attractive growth and margin sectors with Capex / M&A Communities S 32#33A HIGH QUALITY GLOBAL GROWTH BUSINESS WITH IMPROVING MARGIN, STRONG CASH FLOW AND EXCELLENT ROIC HIGH QUALITY EARNINGS AND CASH COMPOUNDING MODEL Consistent margin accretive revenue growth High free cash flow and strong balance sheet Disciplined capital allocation and best in class returns Revenue CAGR Average Op. Profit margin 15-19 16.7% 15-19 19-21 8.4% (3.4%) all figures are at actual rates 20-21 16.3% ● A CLEAR PURPOSE Bringing Quality, Safety and Sustainability to Life Leading ATIC solutions the world needs now Investments in sustainable growth ↑ ↓ ● T interteke Total Quality. Assured. 2022 Guidance Robust LfL Growth Margin Progression Strong Free Cash Flow 8 STRONG MARKET POSITION Average OP margin Change Op. Profit CAGR 15-19 | 15-19 20-21 -25bps 19-21 (4.9%) 40bps 11.2% Strong portfolio with leading market positions Science-based Customer Excellence giving our clients the ATIC advantage More than 1000 laboratories in over 100 countries ACCELERATING MARKET GROWTH Broad-based end-market recovery Stronger post-pandemic growth opportunities around supply chains, innovation and sustainability Global GDP+ growth EPS CAGR Dividend CAGR 15-19 19-21 15-19 19-21 10.9% (5.2%) 19.3% 0.0% in Average Cash conversion 15-19 20-21 140% 131% S Average ROIC 15-19 20-21 22.9% 19.9% 33#34intertek Total Quality. Assured.