Slides
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January 22, 2026 INVESTOR DAY
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AN AMBITION TO LEAD
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Leading Building an Augmented Ipsos
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Augmented Ipsos Augmented by tech and AI Augmented solutions & services Augmented for its people Augmented by its people
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5 In the room with you today Moneesha Banerjee Global Head of MSU Kelly Beaver CEO UK and Ireland Shaun Dix Service Line Group Leader (Creation & Innovation) Olivier Champourlier CFO Andrei Postoaca CEO Ipsos.Digital Jean Laurent Poitou CEO Lindsay Franke Group President, North America Services Lifeng Liu CEO Greater China
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THE AGENDA
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The agenda 01 A quick introduction 04 Financial trajectory & capital allocation 02 6 Strategic choices to lead 05 Q&A 03 Our plan to execute the strategy
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A QUICK INTRODUCTION 01
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9 3 decades of international experiences leading high value professional services organisations in Europe, Asia and the US. Familiar and highly qualified in working in complex international environments Growth and innovation driven leader Strong experience in leading company transformation
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A STRONG DESIRE TO BE PART OF IPSOS’ “BELLE HISTOIRE”
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11 50 years, and 50 years only, to build a global leader in market research offering professional added value services Long lasting client relationships, built on trust Unparalleled breadth and depth of first party data, cross categories and cross geographies, at our fingertips A story of expertise, talents and scientific rigor An international footprint, offering the largest range of products and services
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BUT EVERY “BELLE HISTOIRE“ CAN BE MORE BEAUTIFUL STILL
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13 Progress in working and delivering fasterfor our clients But expectations of "always more"speed remains a huge challenge Extensive breadth and depth of services But lacking productization and scale. Strong investments in a wide range of tech and AI powered products and services But insufficient scale and adoption Outstanding and long-lasting client relationships But uneven commercial effectiveness Unmatched data skills But too focused on the data we produce
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WRITING THE NEXT CHAPTER IN OUR FAST CHANGING AND CHALLENGING INDUSTRY
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15 Our clients expecting real time and immediacy to be the new norm in terms of ways of working and delivery. Our clients leveraging datain their decision making, but needing to manage multiple and fragmented data sources to integrate and to make sense of. Our clients needing to navigate through uncertainty and seeking greater predictability from the information we deliver: signals of change and early indicators to anticipate what's next.
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16 AND AI making this possible AI delivering at speed, without compromising veracity and reliability AI enabling to generate synthetic data, if refreshed and calibrated through an access to real people AI powered products and services, enriched with Human Intelligence
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THIS IS THE OPPORTUNITY TO REALIGN WITH THE IMPRESSIVE GROWTH TRACK RECORD THE COMPANY HAS DELIVERED FOR YEARS
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18 A quick look back TOTAL GROWTH
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19 We have an ambitious organic growth trajectory 2026 → 2028 3 TO 4% 2029 → 2030 5%> AVERAGE YEARLY ORGANIC GROWTH AVERAGE YEARLY ORGANIC GROWTH
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20 We have an ambitious organic growth trajectory 2026 → 2028 3 TO 4% 2029 → 2030 5%> ADJUSTED DILUTED EPS GROWTH FROM 2025: c. 8% / Y AVERAGE YEARLY ORGANIC GROWTH AVERAGE YEARLY ORGANIC GROWTH
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21 The support of 20,000 people in 90 markets and a new leadership team
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HOW WILL WE LEAD? BY ACCELERATING. RADICALLY. NOW.
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6 STRATEGIC CHOICES TO LEAD 02
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24 1. Leverage our multi specialist business offerings. 2. Global company with a local footprint. 3. Speed as an absolute priority. 4. AI as a catalyst for market leadership. 5. Access to real people as a critically relevant competitive advantage. 6. Value-added service partner.
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25 STRATEGIC CHOICE N°1 Leverage our multi specialist offerings.
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26 Strategic choice N°1 Leverage our multi specialist offerings We are the international company that offers the broadest range of services. And we will continue to diversify. Greater resilience. New services leveraging and combining cross-domain expertise. Productize and maximise adoption of Globally Managed Services (e.g. Behavioural Measurement). High-growth adjacent new services.
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27 STRATEGIC CHOICE N°2 Global company with a local footprint.
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28 Strategic choice N°2 Global company with a local footprint We will remain a global company. Our clients are global. They need a global partner. But a global partner enriched by a strong local footprint. Global company to ensure critical size, and a global reach of our offerings. Local footprint to ensure relevance. Rooted in market culture and specificities, we ensure the relevance of the insights we deliver. Be a leader in each market: specific expansion plans for US and China.
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29 STRATEGIC CHOICE N°3 Speed as an absolute priority.
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30 Strategic choice N°3 Speed as an absolute priority Radically reinvent the delivery of our results : from near real time to 48h for most of our activities. Leveraging our solutions and our Ipsos.Digital Platform. Impacting our processing chain, from automated scripting to integrated and automated data processing.
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31 STRATEGIC CHOICE N°4 AI as our catalyst for market leadership.
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32 Strategic choice N°4 AI as our catalyst for market leadership AI to deliver faster to transform our ways of working to accelerate innovation to grow through AI augmented offers and services (e.g., Creative Spark AI and Behavioural Measurement). But AI grounded and mastered through scientific rigor. TRUSTED AND RELEVANT Insights as a service Market Research service providers Software & Digital Data Analytics
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33 STRATEGIC CHOICE N°5 Access to real people as a critically relevant competitive edge.
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34 Strategic choice N°5 Access to real people as a critically relevant competitive edge Ensuring access to real people as a key differentiator and a means of competitiveness Capturing and understanding the changes in consumer or citizen behaviours, attitudes and mindsets BEFORE everyone else. To guarantee the robustness of synthetic data (trained and calibrated through fresh and real -life data updates). Delivering a TOTAL UNDERSTANDING , through our unique knowledge of people in all their facets.
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35 STRATEGIC CHOICE N°6 Value-added service partner.
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36 Strategic choice N°6 Value-added service partner We won’t grow if we become a commodity. We will grow with a high value service vision of our industry. We will continue providing data . We will also transform these data into impactful insights for our client's business (e.g. Data Integration and Analytics). We will diversify the profiles of our teams , with more data / AI savvy talents, in particular for enhanced predictive Insights.
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37 6 STRATEGIC CHOICES THAT DEFINE OUR 2030 OBJECTIVE
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38 Ipsos is the AI augmented Global Market Research leader, providing and turning data into ”impactful insights”, at speed.
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OUR PLAN TO EXECUTE THE STRATEGY 03
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40 AI-AUGMENTED REINVENTION Accelerated innovation Ways of working Reinvent the core Useable market information Speed and increased productivity Commercial excellence Accelerate adoption, expansion & productization of services powered by Tech & AI Ipsos.Digital Platform Globally Managed Services Data integration & analytics Operating principles and values People and talent plan M&A and partnerships
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1. Reinventing the core business Tech and AI to reinforce our core business, capture market share, increase productivity and change our ways of working.
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42 Reinventing the core business Andrei Postoaca, CEO Ipsos.Digital
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43 We are already riding the wave of AI Ipsos.Digital Platform: our self serve offering generating around 140€ M revenue in 2025. A flagship of commercial solutions featuring GenAI across the whole value chain, including 15 already developed and launched. Synthetic data leadership: credible positioning on Synthetic Data research, differentiating from focused tech disruptors. Internal AI adoption: Ipsos Facto internally deployed for entire workforce with a good adoption rate (11k MAUs).
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44 Understanding the data and how far you can push each system until it breaks. HUMAN Large language models at core. EXPERIENCE Having access to data is core. Knowing what data is needed and missing is essential. DATA Our unique positioning WE KEEP THE HUMAN IN THE LOOP AT EVERY STEP
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45 XAI Can we see inside the mechanism to understand how it works? TRANSPARENCY Is AI delivering accuracy? How do we avoid hallucinations and false fabrications? TRUTH Ethics, fairness, security, privacy, rights & responsibilities . How do we treat participant and client data with integrity? TRUST Explainable AI at the Core WE KEEP THE HUMAN IN THE LOOP AT EVERY STEP
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46 WE SHARE WITH ENTHUSIASM
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47 NOW IS THE RIGHT TIME TO FOCUS ON A FEW BIG BETS TO TRULY TRANSFORM OUR MODEL
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48 SPEED PRODUCTIVITY DIFFERENTIATION LEVERAGE AI FOR
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MEET SOPHIE Cat food brand manager
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50 1. Asks a Question Sophie needs to understand the Romanian market and its potential for brand expansion, so she asks Ipsos. Understands intent Interprets her business question, context and objective Insight-, Report Agent Based on the search the right researchers are identified and notified of potential discussion with Sophie Ipsos Researcher Understands intent Interprets her business question, context and objective. Insight, Report Agent Based on the search the right researchers are identified and notified of potential discussion with Sophie. AI Orchestrator
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51 2. Learns what’s available AI Orchestrator Ipsos Researcher Instant access to past trends, consumer profiles, purchase habits and benchmark data. Benefit : She does it when she wants. Full access to all her company data. Recommends best methods Explains trade-offs: synthetic vs real vs hybrid. Supervision.
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52 3. Refine her need AI Orchestrator Ipsos Researcher What is missing & how to collect it : hybrid quant real & synthetic data and AI moderated qual interviews. Data Hub Searches past studies, dashboards and continuous data. Supervision.
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53 4. Finalize the research need AI Orchestrator Ipsos Researcher Generate the questionnaire. System suggests scope enlargement. First meeting with a researcher. Launches qual quant study. Orchestrates execution Activates the right specialised AI agents, such as concept learning, questionnaire, moderation, translation, etc. First discussion with Sophie, validates the questionnaire design and translation and ensures the additional research is sufficient and logical.
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54 5. Days to hours Ipsos Researcher A full analysis combining all data layers, validated by an Ipsos researcher. Sophie has the recommendation based on facts. Results Combines all data layers. Provides recommendation. Enhances and validates analysis. Final discussion on report interpretation and local insight. AI Orchestrator
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55 LEVERAGING AI FOR SYNTHETIC DATA
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56 DATA BOOSTING PERSONA BOTS SYNTHETIC PANELS (DIGITAL TWINS) DATA IMPUTATION DATA AUGMENTATION SYNTHETIC Overcoming data scarcity challenges by boosting data for niche audience Fill in the missing or incomplete data points using the available information Directly engaging with the data from your studies to boost & democratise its use Developing panels of 100% synthetic twins of specific respondents R&D
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57 HOW ARE WE MAKING THIS THE NORM
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58 Our Ecosystem USE CASE & BUSINESS QUESTION LAYER Innovation business questions Market understanding questions Creative development questions Branding business questions Service lines have access to all data source and relevant IP IPSOS INTELLECTUAL PROPERTY Ipsos databases Engineered prompt Analytical models Data Collection Panels Specialised ToolsData Hub Reporting FinanceSOFTWARE External Agents PLATFORMS Ipsos.Digital, Synthesio, MediaCell, Mystery Shopping, Ask.Ipsos API connection to all other Ipsos platforms & client platforms AI AGENTS Insight, Concept, Ideation, Questionnaire, Moderation, Translation, Verbatim, Promptly Survey & primary data Social/ eComm data Curated Ipsos data Digital Twins Qual Client entrusted data DATA LAYER
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59 IN SUMMARY
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60 HUMANS REAL RESPONDENTS TECH COMPETENCIES Building an Unmatched Research Firepower DATA 20,000 people & 90 markets Millions of surveys, billions of data points In the panel business for 50 years with 1,000+ in tech
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2. Accelerating adoption, expansion, productization of services powered by tech and AI.
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62 Ipsos.Digital Platform Globally Managed Services Data Integration & Analytics 3 game changers
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63 1. Globally Managed Services (GMS) Shaun Dix, Service Line Group Leader
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64 Globally Managed Services 2. CREATIVE ASSESSMENT 3. CONCEPT & IDEA 4. PRODUCT TESTING 1. CREATIVE DEVELOPMENT 5. PACKAGING TEST 6. BEHAVIOURAL MEASUREMENT
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65 Globally Managed Services 1. Global consistency through productization, standardisation, and quality. 2. Stronger marketing activity to help our positioning - differentiated service with Ipsos IP. 3. Dedicated resources with clear accountability. 4. Innovation to scale new solutions globally. 5. Target Global Client mandates. ➔ Drive double-digit growth on a revenue base of several hundred million euros.
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66 Expanding products to fit with higher social ad volume production Creative|Spark AI - now live in 31+ markets: 1. Expanded to include all major social media platforms, static ads (such as OoH, print, digital display). 2. Expanded diagnostic capability by adding in Generative AI Ipsos owned and proprietary variables. 3. Audit of large volume of ads (1000s) to create learnings /playbooks. 4. API capabilities launching now to enable Ipsos to connect our data directly (via automated transfer) to other data eco-systems – designed for high volume for client media decisions.
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67 Ipsos has world-leading and best-in-class services 1 2 Managed centrally with local oversight – allowing us to make this repeatable. 3 Ipsos Digital platform - automation & speed. AI-powered. Each GMS team will have the resources to build and innovate. 4 Large databases that cover all corners of the planet. Research experts on the ground who provide that cultural depth and value. New Operating Model Innovation & AI Own IP, Proprietary Research Solutions Global & Local Super-Power Commercial decision to re-balance with more centrally-run businesses. Start with 6 with more GMSs to launch over- time.
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68 Global entertainment and streaming company case study 1. Unmatched business expertise. 2. Proven global-to-local delivery at scale. 3. Global program leadership model. 4. Proven metrics that drive business outcomes.
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69 Behavioural Measurement Moneesha Banerjee, Global Head of MSU
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70 Behavioural Measurement In the moment intelligence on how people use, consume and buy products and services • Consumer driven algorithm for brand growth. • Understanding the moments that matter by connecting the when, what, where with who and why. • Competitive intelligence for risk and opportunity assessment.
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71 Why is it important for our clients? • What people do vs what they say they do. • Real behaviours, real people, at scale. • Intelligence that powers strategy for sustained brand growth. • Measures marketing impact in driving organic growth. • High visibility KPIs.
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72 A growth booster for Ipsos Ipsos scale, quality and expertise makes us a trusted choice for global programs • Boots on the ground everywhere allows flexibility in data collection. • Fit for purpose design. • Panels and partnerships. Large engagements for long term strategic partnerships.
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73 Behavioural Measurement Being first movers in this space has given us an advantage. Future growth will come from transforming what we do and how we do it.
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74 Behavioural Measurement as a Globally Managed Service 1 2 3 4 People Technology & AIOffer Productization Scaled analytics, fit for purpose engagements. Synthetic data applications for enhanced insights, representation. Enhanced data collection toolkit with integrated app. AI enabled features for greater accuracy, efficiency and engagement. Flawless execution at scale, with ease and efficiency. Enhanced delivery model Network of global, regional and local experts.
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75 Technology that enables “in the moment” insights In 2026… Voice and audio Barcode scanning Today… Respondent friendly Integrated application Image Capture & analytics Connected devices
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76 2 MINUTES 2 SECONDS AI Powered Image Analytics Battery of questions Category Subcategory Brand Variant Pack Size Pack Type Simple image upload
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77 Behavioural Measurement with Ipsos REAL BEHAVIORS, REAL PEOPLE FROM QUESTIONS TO CONVERSATIONS, LESS ASKING, MORE OBSERVING MULTI SOURCE, CONNECTED INTELLIGENCE INSIGHT TO IMPACT
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78 2. Data Integration & Analytics Kelly Beaver MBE, Regional CEO Ipsos UK & Ireland
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79 A growth opportunity harnessing AI to bring order to data chaos and complexity AI developments offering new faster, more efficient and scalable solutions . . . and partnerships to harness data to produce predictive analytics and business intelligence Surge in volumes and complexity of data Clients seeking to control their data whilst integrating with multiple sources
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80 A vast and high growth market Business activities across whole Data Integration & Analytics market: • process of bringing data together from various sources into a single, comprehensive view • analysing of data sets to find useful information for solving problems in various fields Ipsos’s addressable market is the Market Research segment of this market – linking research data to other data sources and harnessing AI to deliver analytics and integration efficiently at scale and speed.
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81 Ipsos has a unique proposition in this market 1 Multi-Domain expertise – by maintaining our diversified and multifaceted business offerings and worldwide footprint 2 Ipsos's access to real people through primary market and social research coupled with domain expertise provide trusted data foundations for AI powered analytics, and scaled synthetic data inputs 3 Tech agnostic approach to work within client ecosystems and embed Ipsos data assets at the heart of business decision making
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82 Our multi-disciplinary data expertise, trusted reputation, and access to real people underpins the strength of our differentiated DI&A offer Socio-cultural, political values, economic attitudes, geospatial, wealth and luxury consumer trends & client's historical 1st party data Ai-powered analytics and integration of data sources A LUXURY AUTOMOTIVE COMPANY IPSOS INTERVENTIONS RESULTS Adhoc process for sourcing dealership locations, not maximising sales revenues Improved business intelligence, ai- enabled decision making & commercial forecasting and performance monitoring capabilities
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83 Market Opportunity Index Example project materials
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84 Investing to move from c.€100m revenue in 2025 to 10% of total global revenues by 2030 Shift workforce mix– increased proportion of data engineers, Data Management, AI professionals Priority area for partnerships and acquisition globally AI-Powered predictive Analytics and data integration focus for Service line innovation and product development
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3. Focus on our must win markets
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86 U.S as a growth enabler Lindsay Franke, Group President, North America Services
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87 A connected plan • Accelerating Globally Managed Services • Scaling Ipsos.Digital • Advancing DI&A • Fast-Tracking Market Activation
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88 The U.S. is a hotbed for innovation and provides leverage as a growth accelerator • Outsized economic growth as a mature market • Home to 9 of 10 world’s most valuable global brands • Epicenter of AI, technology, and category disruption • Designed for disproportionate growth
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89 Winning with the tech giants (and beyond) in an AI world WHY CLIENTS VALUE & PARTNER WITH IPSOS • Data abundance ≠ understanding • AI creates more noise, not less • Real human validation is required • Unique data provides competitive advantage • Mission-critical for confident decisions IPSOS ADVANTAGE & MARKET OPPORTUNITY • Verified human access and intelligence at scale • Specialise in proprietary and unique data sets • Embedded in decision workflows • Scales beyond Big Tech • Evergreen market need as models evolve
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90 B2B: Scaling where demand is growing • Large, growing, underserved market • High-stake decisions require trust and rigor • Research industry built for consumer decisions • Ipsos already trusted by global B2B leaders
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91 A global launchpad for scalable growth HQ Budget & Decision Center Innovation Incubator Strategic Market Symmetry GLOBALLY EXPORTABLE IP FOR MULTI-MARKET PROGRAMS U.S. & CHINA 2 GROWTH ENGINES
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92 China’s growth trajectory Lifeng Liu, CEO Greater China
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93 China is on an organic growth trajectory Fast deliveries addressing impactful business challenges Chinese clients building global brands Activate global innovation strategies Ipsos is leading the market in China
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94 AI Incubation and Activation 1 AI to Improve New Product Innovation Succes Rate Come up with new product ideas by analysing demand-side and supply-side data 2 AI to Increase Social Media Marketing ROIs Use AI and social analytics capabilities to help better select social media influencers and draft better content
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95 Persona Bots/Consumer Digital Twins We train Persona Bots for clients so they can ask new questions to them at any time During the Paris Olympic Games, by interviewing 60+ Persona Bots we created, we helped a client select the superior advertising copy within one single day.
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96 New Access to People Approaches 1 Respondents from Social Media Further extend our reach to target profiles among 1+ billion users in a cost-effective way 2 Access to Professionals Business decision-makers and social media influencers Uplift B2B business 3 Up-to-data Business New research buyers starting from purchasing data
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97 The Chinese Brands Going Global Opportunities A turning point: From focusing on value for money to brand building. 1 Go to Market 2 Innovation 3 Brand Building -18 -12 0 26 38 51 -20 -10 0 10 20 30 40 50 60 2021 2022 2023 2024 2025 Chinese Brands’ Net Trust (%) Developing Markets Developed Markets
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4. The enablers to help us steer the change.
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99 4S’s SECURITY Only reliable information and insights vs ”out of the blue” fake data. SUBSTANCE Scientific thinking and a greater integration of a variety of data sources to reveal and capture the most relevant information SIMPLICITY Being clear, articulated, understood and efficient. SPEED We will need to work faster Enabler N°1 : Our operating principles
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100 INTEGRITY Enabler N°1 : And our values CURIOSITY COLLABORATION CLIENT FIRST ENTREPRENEURIAL SPIRIT They define the company we are. And that we will be.
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101 Future-proof our skills and workforce, making the most of AI + HI SKILLS Extend and strengthen the leadership bench LEADERSHIP Capitalise on the Ipsos culture as a lever for positive and engaging transformation CULTURE Talent assessment Rotation Strengthen our workforce by increasing the number of scientists and engineers Reskilling people for the jobs of tomorrow Scale our cultural strengths to deliver commercial excellence
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102 3 main areas of focus Enabler N°3 : M&A's and partnerships TECH AND AI ACQUISITIONS TO ACCELERATE OUR TRANSFORMATION ADJACENT MARKET EXPANSIONS IPSOS COMPETITOR TO STRENGTHEN, REINFORCE OR WIDEN OUR FOOTPRINT
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FINANCIAL TRAJECTORY & CAPITAL ALLOCATION 04
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104 Financial Trajectory & Capital Allocation Olivier Champourlier, CFO
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105 2025 preliminary financial results SUBJEC T TO AUDIT C ERTIFICATION BY OUR STATUTORY AUDITORS ORGANIC GROWTH + 0.6% OPERATING MARGIN 12.3% NET DEBT / EBITDA: x 0.5 12.8% OPERATING MARGIN AT CONSTANT SCOPE Excluding IFRS 16 impact
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106 Our Financial Trajectory AVERAGE ANNUAL ORGANIC GROWTH RATE RETURN TO GROWTH 2023-2025 : 1.6% #01 2026-2028 : 3 TO 4% 2029-2030 : > 5% Drivers: • Push Globally Managed Services • Leverage Ipsos.Digital • Develop adjacent services • Speed • Commercial excellence
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107 Our Financial Trajectory AVERAGE ANNUAL OPERATING MARGIN RATE IMPROVE PROFITABILTY 2023-2025 : 12.8% AND 2026-2028 : 13.5% 2029-2030 : > 14% ADJUSTED DILUTED EPS GROWTH FROM 2025: c. 8%/year Drivers: • Business mix • Productivity gains • Synergies from 2025 acquisitions
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108 SOURCE OF FUNDS Free Cash Flow over 5 years Cash Allocation Plan 2026-2030 APPROX. 1 400 Additional debt as of 31/12/2030 keeping leverage at maximum 2x UP TO 600 Investments Employee free shares USAGE OF FUNDS APPROX. 1 200 150-200 Shareholder returns 40 to 50% of adjusted diluted EPS 600-700 I N M €
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THANK YOUNK YOU
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Disclaimer This presentation contains a few prospective statements. Although Ipsos believes that these statements are based on reasonable assumptions as of the date of publication, they are inherently subject to risks and uncertainties, the main ones being described in the company's Universal Registration Document, which could lead to actual figures differing from those indicated or implied in these statements. Ipsos does not undertake any obligation to publicly revise or update prospective statements in light of new information or future events.