LiveRamp Holdings, Inc.

Bonjour, everyone. I am Arthur Sadoun, and I'm here in New York in the middle of the night with Carla Serrano, Chief Strategy Officer of Publicity Group, and Scott Howe, CEO of LiveRank. Laurie Snow, our CFO, is also on the line, but from Paris. Thank you for joining us at such a short notice. We wanted to make sure we give you more color following yesterday's announcement that we have entered into an agreement to acquire LiveRamp to become a leader in data co-creation and help clients build more intelligent agents. With these strategic investments, we are demonstrating once again our commitment to accompanying our clients in their transformation and continuing to power our growth and financial KPIs by leading the industry into the AI era. But before we get into the presentation, please read the disclaimer, which is an important legal matter. Okay, let's start with a quick overview. LiveRamp is a global data collaboration platform and a strategic AI enabler. The transaction represents an all-cash deal for an enterprise value of $2.2 billion. Among its many benefits, It will allow publicists to become a leader in a new high-growth segment, data co-creation to fuel more intelligent agents for our clients. LiveRamp will also strengthen our ability to deliver agentic business transformation. We expect this acquisition to be accretive to our headline EPS from the first year. It will also allow us to raise our 27 and 28 constant currency growth objectives to plus 7 to 8% for net revenue and plus 8 to plus 10% for headline EPS versus previous objectives of 6 to 7% and 7 to 9% respectively. In terms of next steps, the acquisition is subject to regulatory approval and approval from LiveRamp shareholders. It is expected to close by the end of the year. Now, let's get into the details of this announcement, including what LiveRamp is, the financial details of the transaction, the rationale for this strategic investment, and how it fits into Publicis' model. We will then answer what we believe are the three key questions you could have before opening up to Q&A. For those who are not familiar with LiveRamp, we thought Scott should start by giving you a quick snapshot of the business. But before, first, Scott, as we say in French, bienvenue to Publicis. We are very happy that you are here with your team and that you will be soon joining Publicis' family.

Merci, Arthur. I'm thrilled. Thrilled to be here with you. And I've even moved on to French time. Libre, well, it's a data collaboration platform that allows companies to connect, unify, and activate data throughout the digital ecosystem. Its interoperable technology connects data across all major cloud environments with robust governance tools and a commitment to shared standards that help customers collaborate with trust and transparency at scale. It enables data activation at scale through plug and play connections across our extensive collaboration network made up of 25,000 publisher domains and more than 500 data and technology partners in 14 markets. We have over 800 clients, including more than 25% of the Fortune 500, and cover nearly all segments and verticals, including advertisers, retailers, publishers, platforms, and holding companies. Customers. Customers are our North Star. So what I'm most proud of over this period is our ability to attract world-class clients and profitably grow their success over time. Our revenue has grown by a 13% compound annual growth rate over the trailing five years. Recurring SaaS subscriptions represent 76% of our business, and our customer revenue retention has averaged 107%. In fiscal 2026, LiveRAMP's revenue reached $813 million, and our non-GAAP EBIT margin of 22% improved significantly and regularly compared to the 4% margin we delivered in 2021.

Merci, Scott, and sorry for the 2 a.m. meeting. Yes, you're right, we're on French time. I'm now going to hand over to Loris, who will tell you more about the financial details of this transaction before we come back with Carla on the strategic rationale. Loris, over to you in Paris.