WPP Regulatory News (WPP)

WPP PLC ("WPP")

WPP WELCOMES KKR AS STRATEGIC PARTNER IN FGS GLOBAL

WPP today announces that leading global investment firm KKR has made a growth investment in FGS Global, the strategic advisory and communications consultancy in which WPP is a majority shareholder.

FGS Global has 1,300 experts around the world advising clients in navigating complex situations and reputational challenges. It was created through the combination of leading strategic communications and public affairs firms Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co.

FGS Global is a leading company in financial communications globally and was recently ranked the number one global PR firm for deal count and value by Mergermarket, having advised on 322 deals with a total value of over $657 billion in 2022. Its advisory services span all aspects of strategic communications, including corporate reputation, crisis management and government affairs. It operates from global offices in 27 cities around the world.

Following the investment from KKR, WPP will remain the majority owner of the company, and FGS Global employees will remain substantial shareholders. Golden Gate Capital, the private investment firm which has been a shareholder in FGS Global since 2016, will exit its investment through the sale of its interest to KKR.

The transaction values FGS Global at $1.425 billion. It is expected to close before the end of the third quarter of 2023, subject to regulatory approvals and other customary closing conditions.

The strategic partnership with KKR - one of the world's leading investment firms - will help to drive the continued growth of FGS Global, the innovation of its service offering and the expansion of its international footprint in the resilient and growing strategic advisory sector. KKR is making the investment in FGS Global primarily through its European Fund VI.

Mark Read, CEO of WPP, said: "FGS Global has established itself as a global leader in strategic advisory and communications, providing board-level counsel to the world's leading companies and organisations. We are delighted to welcome KKR as a new strategic partner in FGS Global, in a transaction that recognises the tremendous value of the business and its potential for continued strong growth."

Philipp Freise, Partner at KKR, said: "WPP and FGS Global have built an exceptional communications advisory firm. Stakeholder engagement is a boardroom issue and we are today establishing a powerful strategic partnership between WPP and KKR to support FGS Global as they continue on their path to building an industry-defining global business."

Alex Geiser, Global CEO of FGS Global, said: "We are thrilled to be joined by KKR as a strategic partner on our journey to create the world leader in strategic advisory and communications. Our mission to help leaders lead in an increasingly complex stakeholder environment is timelier than ever. The fact that a global investor with the great sophistication and experience of KKR has joined WPP in seeing what we see in our people, the work we do for clients and our future is immensely motivating. We are grateful our clients and our employees will be the beneficiaries."

Further information:

WPP

Richard Oldworth richard.oldworth@buchanancomms.co.uk +44 (0)7710 130 634

Chris Wade chris.wade@wpp.com

Niken Wresniwiro niken.wresniwiro@wpp.com

FGS Global

Dorothy Burwell / Brooke Gordon / Jennifer Loven / Dirk von Manikowsky

mediaglobal@fgsglobal.com

KKR

Julia Leeger / Miles Radcliffe-Trenner

media@kkr.com

About WPP

WPP is the creative transformation company. We use the power of creativity to build better futures for our people, planet, clients and communities. For more information, visit www.wpp.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com  and on Twitter @KKR_Co.

About FGS Global

FGS is a leading global strategic communications consultancy, with 1,300 experts around the world, advising clients in navigating complex situations and reputational challenges. FGS Global was formed from the combination of Finsbury, The Glover Park Group, Hering Schuppener and Sard Verbinnen & Co to offer board-level and c-suite counsel in all aspects of strategic communications - including corporate reputation, crisis management and government affairs - and is also the leading force in financial communications worldwide.

FGS offers seamless and integrated support with offices in the following locations: Abu Dhabi, Amsterdam, Beijing, Berlin, Boston, Brussels, Chicago, Dubai, Dublin, Düsseldorf, Frankfurt, Hong Kong, Houston, Kingston, London, Los Angeles, Munich, Paris, Riyadh, San Francisco, Shanghai, Singapore, Tokyo, Washington, D.C., West Palm Beach, and Zurich. The headquarters is based in New York.