Rentokil Initial Investor Day Presentation Deck

Last slide of our CMD in 2018... Transforming Our Business: 2013-2017 Strategy into action DE \8) ( Rentokil Initial Pest Control & Hygiene (% of Group Revenue) Net Operating Margin Free Cash Flow conversion Dividend paid Net debt to EBITDA S&P rating Pension 2013 49% 8.8% 44% £38.6m 2.5x BBB- In deficit 2017 83% 13.2% 87% £64.3m c. 1.9x BBB Fully Funded 2022 Organic growth and M&A Pest margins and leverage on fixed overheads Reduced capital intensity and lower legacy provision spend Strong Free Cash Flow and proceeds from JV funding, M&A programme and potential balance sheet restructure 142

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