Good morning, everyone, welcome to Pearson's half year 2021 results. Today, we will host a presentation followed by Q&A. Please can use the chat function on the platform to input your questions during the presentation. With that, we'll start the presentation. [Presentation] Good morning, everyone, and thank you for joining us today for our 2021 interim results. I hope you enjoyed the video. As you've heard me say before, Pearson is a company with a true purpose. We exist to help everyone achieve their potential through learning. We want to deliver the world's best learning products to more people than ever before. As we unlock the value of learning, we'll grow our business and at the same time, transform lives. Joining me today are Sally Johnson, our Chief Financial Officer, and Mike Tschudy, Head of User Experience Design. We're going to run you through the highlights of the first half and then spend some time focusing on the first of our Direct to Consumer learning products, our college learning app, which we're launching today. Then Sally and I will be very happy to take your questions. Overall, Pearson has made significant progress since my strategy update in March. Back then, I spoke of my priorities for the business over the coming year. I outlined the need to move with pace, focus, and agility in order to put in place the building blocks for success. I'm pleased to say that we're doing exactly that. We're moving quickly, and we're building momentum. We're focused on execution, and we're focused on quality, and we're making progress financially, strategically, and operationally. From a financial perspective, Pearson has delivered a good performance in the first half of 2021. This reflects the ongoing benefits of increased enrollment in online learning, together with a strong rebound this year, and encouraging momentum in the underlying business as we start to see the benefits of the revised strategy that we introduced in March. We've delivered revenue growth of 17% and an adjusted operating profit of GBP 127 million. Sally Johnson will talk in more detail on the numbers later in the presentation. The key points are that we're on track for 2021, and that going forward, we believe that we're increasingly well-positioned for sustainable long-term growth. Let's take a closer look at our strategic and operational progress. In March, I outlined my strategy to get Pearson growing again. Five months later, I'm pleased to say that we're making excellent progress in each of the areas I've prioritized. We have substantially completed the group's reorganization into five focused businesses, with each carrying full responsibility for its overhead, product development, and operations. Strong leadership teams have also been appointed for all of these businesses to drive them forward. We've taken significant steps to reinvigorate our culture, with Pearson becoming a more diverse and inclusive organization, and a more action-oriented group, one that's focused on execution and delivery. We're also further strengthening our commitment to transparency and accountability with the introduction of new business and operational KPIs today. More on those shortly. The strategic review of our international courseware local publishing businesses is a complex process across some 50 countries, that is now largely complete. Whilst these are fundamentally good businesses, they do not fit with our vision of being a globally scalable digital company. Our new Direct to Consumer division is already hard at work supporting the rapid creation of digital products. Today, we're announcing the launch of an exciting new product, Pearson+, an important step in taking Pearson directly to the consumer. I'll come back to this in a little time. Overall, we're making great progress, driven by an overarching objective to evolve and adopt the four key themes that I laid out in March. Those were putting the consumer at the center of everything we do, embracing diversity and inclusion. Collaborating across businesses and territories as one global company, and increasing our speed, agility, with a focus on quality. Across Pearson, momentum is building, with all five of our business divisions showing good operational and strategic progress in the first half of the year. Some highlights include: within Higher Education, we've continued to make good progress with initiatives that will make us a more sustainable, predictable digital business, including today's launch of Pearson+. In English Language Learning, we're talking to corporations who require help enabling their workforces to reach professional-grade English. Pearson offers the capabilities to deliver end-to-end solutions, and we're well advanced in creating a model to drive profitable growth and scalability. In our workforce division, we're deliberately treating this as a startup, really creating an entrepreneurial culture so that we can move very quickly. We've been having some very interesting conversations with large corporations about what we can, should, and will offer, and aim to convert some of these conversations into partnerships later this year. In summary, it's been a period of intense activity and progress across all aspects of the business, and we go into the second half of the year with real momentum. Now, over to you, Sally. Thanks, Andy. Hi, everyone. We've delivered a good first half performance, with sales growing 17%, driven by a recovery from last year's COVID impacts, as well as a strong performance in Virtual Schools. You'll remember that I said in H1 would be the last time we'd report under this divisional format. Going forward, we'll report under our five new global business divisions. Given each division now has full responsibility for its overhead to ensure empowerment and accountability, we'll report fully loaded P&Ls, which will also provide you with an improved view of underlying profitability at each of our businesses. We've shared the 2020 and 2021 half and full year financials on this basis in the appendix. Walking through the detail for the first half, global online learning revenue grew 25%, with Virtual Schools up 43%, driven by those strong enrollments for the 2021 academic year, as well as growth in U.S. district partnerships. Online program management revenue grew modestly, with strong underlying growth offset by discontinued programs, the impact of which finishes this year. Global Assessment revenue grew 34% with growth across all divisions, following the closure of test centers and schools, as well as exam cancellations in Q2 last year. VUE and clinical revenues in H1 2021 were up on 2019, with school assessments revenues not yet fully recovered. North American courseware revenue grew 2%, driven by strong recovery in Canada, which more than offset the 2% decline in U.S. Higher Education courseware. We're all aware that this business is seasonally weighted to H2, but in H1, we saw the trends we expected, with a decline in print and package, partially offset by digital growth. Total units were up in the first half, indicating recapture of the secondary market. International revenue increased by 8%, driven by COVID recovery. However, recovery here is slower because these markets are still managing some significant pandemic disruptions. Moving on to profit. At a group level, the operating leverage from the sales upside cost and margin savings and favorable timing were slightly offset by inflation and FX. At a divisional level, Global Online Learning profit grew significantly with the margin on the revenue upside and improved profitability in OPM more than offsetting continued Virtual Schools investment and the impact of discontinued programs. Global Assessment also grew profit significantly given the rebound of revenues at a strong margin. North American courseware and international underlying profits grew by 33% and 49% respectively due to the operating leverage on the revenue growth, as well as some cost savings. In enabling functions, costs reduced due to transformation cost savings as we continue to co-focus on cost efficiency. Turning to cash and the balance sheet. Cash performance was strong in the first half, with a positive operating cash flow of GBP 10 million. That cash flow improvement was due to the higher operating profit, also tight inventory management, strong collections, and lower CapEx. Net debt at the end of June was GBP 0.6 billion, a GBP 0.3 billion improvement since this time last year, given strong operating cash and disposal proceeds offset by dividends and tax. Given our confidence in the outlook, recovery and earnings, and the strength of our cash flows and balance sheet, the board is declaring an interim dividend of GBP 6.3 P, a 5% increase on last year. Moving to the outlook for the rest of the year. Whilst we're mindful of the continuing uncertain conditions, our revenue expectations for the second half remain broadly consistent with those I outlined in March. Namely, in virtual learning, we expect Virtual Schools enrollments to be broadly flat for the 2021, 2022 academic year, and that discontinued programs in OPM will offset underlying growth. In Higher Education, we continue to expect a revenue decline, but by less than seen in recent years. Pricing pressure from the change in mix from print and bundles to platform and e-text will be somewhat offset by recapture of the secondary market and enrollment recovery. The revenue impact of Pearson+ will be modest this year as we gain traction and gain consumer interest. International markets are reopening more slowly than previously expected, continued pressure on migration and mobility is impacting recovery in English Language Learning, and in PTE in particular, following further lockdowns in our key market, Australia, where borders are now expected to remain closed until 2022. Workforce Skills revenue will grow given the strong fundamentals of business and the investments we've made. In assessments and qualifications, there'll be growth in the U.S. student assessment with some of those exams shifting from spring to fall, offset by a weaker performance in professional certification after a strong H2 2020 performance when we benefited from that pent-up demand. As mentioned at our full year results, we're planning on investing an additional GBP 50 million-GBP 60 million in the business this year, including spend on Pearson+. That spend is H2 weighted. Bringing all this together, we continue to expect to deliver adjusted operating profit for the year in line with market expectations. With that, I'll pass back to Andy, who's going to talk a bit more about our strategic progress. Andy? Thanks, Sally. The strategy that I announced in March was all about ensuring that we're set up to capitalize on the three big growth opportunities that I've identified for Pearson. The pandemic has only served to accelerate these opportunities, as highlighted by the adjustments that we've all made to adapt to a more digital and hybrid way of working and learning. These three opportunities will not only benefit Pearson, but most importantly, will benefit our consumers as we'll be able to build direct relationships with them to help them to unlock their potential throughout a lifetime of learning. As I said in March, to help drive our transformation, we need a robust set of stretching non-financial KPIs to measure and track our strategic progress. Together with our financial metrics, they will allow us to measure, but more importantly, drive and incentivize performance against our new strategy. The first three KPIs you can see are all about tracking the success of our products, how effective they are, and how we engage with consumers. Also, as you'd expect, given our purpose, we're committed to supporting our employees in their development, building an inclusive culture with diverse talent, as well as our previously announced goal of being net carbon zero by 2030. We'll update on progress against all of these metrics as we go through the year. Looking ahead to the second half of the year and beyond, we'll be focusing on three main areas where we see the most attractive opportunities for growth. In Workforce Skills, I mentioned earlier that we're in advanced discussions with several large corporates in the B2B space. We're now looking to convert those into partnerships. We'll continue to invest in our capabilities in English Language Learning, particularly in the high-growth online area, where there's a real tailwind behind the sector as more people realize the possibilities and the benefits of learning online. We'll continue to scale our Direct to Consumer capabilities, building on the launch of Pearson+. This is a clear priority for Pearson as we aim to be at the vanguard of digital learning, producing the best learning products for more people all over the world. As we mentioned in March, we've been working on something new that's going to become Pearson's flagship Higher Education product. Today, we're launching our new college learning app, Pearson+, into the market in time for return to school. We're delivering this exciting new service through an app, and we're very proud of what we've created. It's far more than just an app. It's a new learning service delivery model, and we're confident that it's going to be a major step forward for our consumers and for Pearson. Together with Revel, MyLab, and Mastering, Pearson+ is poised to help us drive both consumer and revenue growth for Pearson. I know you're anxious to hear more details about all three, and I'm excited also to introduce our new fall product line to you. To do that, I thought I'd take us all back to school, so you can understand these products through the eyes of our consumers, our students, and see just how transformational they will be for those students and for Pearson. Hi, I'm Andy Bird, and I'm here on a U.S. college campus where students are just a few weeks away from the start of a new semester. As CEO of Pearson, I'm excited to show you how we're about to make a real difference in the lives of students at colleges and universities like this one. No matter how students are returning to the classroom, whether in person or virtually, they need learning experiences that help drive better outcomes and make their busy lives much easier. From on-campus students to working adults learning on the go, learners rely on digital tools that fit their lifestyle and their budget. Today, we're going to show you products that do just that. You'll see our brand-new Interactive Labs, as well as the improvements we've made to the student and faculty experience of Revel, one of our cornerstone Higher Education products. I'm excited to give you a first look at our new learning app, which will change the way college students access and experience their content from Pearson. Even though many college students are thrilled to head back to a physical campus, they also want to keep the elements of digital learning that make their lives easier and their studying more productive. To share some of those insights, I'd like to introduce you to Ishantha Logendran, our Chief Product Officer and Co-president of Direct to Consumer. Thanks, Andy. Before the pandemic, students were telling us that they prefer the experience, convenience, and affordability of digital learning. That's why high-quality interactive experiences have become the driving force behind our product development. Now, we are expanding our Mastering product to include Pearson Interactive Labs, a virtual science experience that replicates a lab environment. The pandemic created more value for this kind of product. We believe Interactive Labs will become an important part of the teaching and learning process well into the future. In fact, science instructors have been asking for this kind of high-quality, interactive experience so students can be better prepared for research inside the physical lab and do research on their own. Our Interactive Labs familiarize students with the concepts, equipment, techniques, and safety protocols used in a physical lab. When students do move into a lab like this one, they can start learning quickly and efficiently. If students can do research in person, Interactive Labs also serve as a quality replacement for the experience. Let's take a closer look now. [Presentation] This fall, we'll have several Interactive Labs available for introductory biology courses, covering topics like photosynthesis and genetics. Additional labs will premiere in 2022 and beyond. Those will help students understand subjects that are relevant and important in the world today, like vaccine development, the human immune system, and climate change. We're also developing labs in microbiology, anatomy, and physiology to support students pursuing healthcare degrees. Interactive Labs is a beautiful and engaging tool. We are confident that faculty will value its impact on learning and students will love to use it, furthering Pearson's position as a leader in science content. Back to you, Andy. Thanks, Ishantha. Next up, I'd like to reintroduce you to Revel, one of our cornerstone Higher Education products. This interactive learning app delivers proven results to help students succeed. To give us a closer look, I'll hand it over now to the President of our Higher Education division, Tim Bozik. Thank you, Andy. For its 650,000 users, Revel blends trusted author content, rich media, and assessment in a fully integrated experience. It's also easy to use with a great mobile app for study on the go. When a learning product is highly engaging and provides immediate feedback, like Revel does, students spend more time on it. Our own research shows Revel can lead to deeper learning and better test scores and grades. We're making Revel even better with an enhanced student experience, along with improved tools and analytics for faculty. Let's take a look at what's new. [Presentation] Revel and our other learning applications, Mastering and MyLab, have long been the foundation for digital experiences. Combined with our expert authors and eText, our products help us engage with 10 million U.S. college students every year. As Andy will explain, we're taking our consumer engagement even further. That's right, Tim. In March, we told you we're working on a new learning app for back to school. Well, today is game day. Now, I'm excited to give you the first look at the most affordable, flexible, student-friendly eText option on the market, Pearson+. Pearson+ looks and feels like the services students use to watch movies or listen to music. We chose the name Pearson+ for a reason. It combines the strength of our authors and brand reputation for academic excellence with a dazzling new user experience. We've created a premier learning destination for college students, one we know they'll find indispensable. We're not stopping there. Pearson+ is set to become our flagship Higher Education learning product, starting with more than 1,500 of our e-book titles. Over time, Pearson+ will grow with even more features and content that students need and enjoy. As it expands, so will our community of users, driving further opportunities and growth for the company. Like all of us, students want engaging content, but they're also telling us they want an easy way to find their course materials, a simple user experience, and straightforward pricing. Pearson+ delivers all of that. Now, I'd like to pass it to Lynne Frank, Chief Marketing Officer and Co-president of Direct to Consumer, to explain more about how we developed Pearson+. Thanks, Andy. We are proud to say that Pearson+ was developed for students by students. Working together with our developers, students were the driving force behind building the user experience. From virtual discussions to focus groups and product testing, they let us know which functions and features were the most important to them, such as audiobooks and advanced note-taking. A few weeks ago, we gathered a group of those students to show them what they helped create. Who better to tell you all about it than the students themselves. [Presentation] We're really excited by Pearson+ and its potential to increase access to high-quality, affordable learning content. Combined with its ease of use, Pearson+ will deliver value to students in a way that few other learning products have. We also know this generation of students believes in building a better world, so we're confident they'll appreciate the smaller carbon footprint that e-books offer. That's just the beginning for Pearson+. Our direct relationship with student consumers will allow us to understand more about their needs and preferences. We are going to learn from them. Those insights will give us exciting opportunities to enhance the product features and build additional content. As we do that, we'll create value for students and growth for Pearson. As that student user base grows, Pearson+ will reset the economics of our business. While 70% of Pearson's Higher Education revenue already comes from digital products, Pearson+ is also designed to help us regain a portion of the more than 14 million textbooks lost to the secondary market and to non-consumption. We believe we can capture those sales with a competitively priced eText experience that students will prefer. As students move to using Pearson+, we can move to a business based on relationships, not just transactions. That helps us produce sustainable revenue growth. It's good for Pearson, but it's great for students. When students get access directly from us, they get a simple buying experience with a great price and the most up-to-date digital materials. They don't have to spend time looking for the best deal. Every title is the same price. When students can afford access to their content the first day of class, our studies show that participation, grades, and pass rates all improve. That brings us to one of the biggest reasons Pearson+ is different from other study apps on the market. Its budget-friendly subscription plan. With Pearson+, we're fundamentally changing the way college students access textbooks. For the first time, we're bringing e-books in line with how students buy and experience the rest of their content, by giving them more control over how they purchase their learning materials. No more time wasted in checkout lines or scouring the internet for the best deal. Now, students can choose between two simple pricing tiers based on what they need. If they need just one e-book, they can pay GBP 9.99 each month. If they need two or more books, they can purchase our multi-tier with access to our entire e-book library for GBP 14.99 each month. Subscriptions will come with a four-month commitment. Unlike other textbook subscription services, students aren't tied to plans that give them more than they need, and they can pay as they go, so they don't have a large upfront cost at the beginning of the semester. Students gain time, money, and simplicity. As you've seen, Pearson is changing digital learning. With new products like Interactive Labs and Pearson+, combined with leading learning apps like Revel, MyLab, and Mastering, we can support better teaching and better learning, driving improved outcomes for students. We can do that while building relationships with them and delivering growth for Pearson. For us, this means more than changing just our business model. When we help people achieve their potential through learning, we can also change lives. That's Pearson's purpose, and it's one we hope you'll be excited to share with us. Thank you, and please join us for the Q&A. I hope you enjoyed the video, which gives you a real sense of our ambition. We want to build long-term relationships with consumers, accelerate the recapture of sales from the secondary market, create opportunities to expand into international markets, and also develop new partnerships. All of this is just the beginning. We're going to have that Q&A in a moment, but I thought first of all, to invite Mike Tschudy, our head of user experience design, and someone who's helped lead the development of Pearson+ to give us a quick demo of the app. Mike? Thanks, Andy. I'm really excited to show you all the Pearson+ application. In all my years of working for companies like eBay, WebMD, Intuit, and Apple, I've never seen a team work so hard with such focus to deliver such an amazing product in such a little time. Let me click in and let's take a tour. Our user's going to put in their username and password, and then they're going to go through the first-time experience. We're going to tell them how they can listen to this anywhere, they can study anytime, and it's all here. This is our promise, all in one place. We come to the homepage, and the first thing they see are the textbooks that brought them here in the first place. They have the Campbell Biology, they have offers, and this is Smarthinking. This is the Pearson tutorial service, as well as the bundled eText that comes with Mastering and MyLab. Here's our mascot, Mojo. That was the project code name. I'm going to add another textbook. We bring up the entire Pearson catalog, all in the palm of your hand. Type in economics. Up comes all the economic textbooks we have. In this case, our user's looking for Economics Today. She clicks on it, adds it to her list. Here it is. It's really that simple. Let me take you on a tour of the textbook itself. I'm going to click into the read. Here I have the ability to navigate back home, bookmark the page, and I have a toolbar. I'm going to hide the toolbar for now. Let's click into the body of the text. Now, the student can highlight, add notes, and then be able to save those notes and use them for another time. I'm going to click on the toolbar, and here is the scrubber feature. This allows the student to quickly jump to different sections. She might want to bookmark that section and then navigate back, and we remember her position. I'm now going to move to the table of contents. In the table of contents, I can jump to any of those sections. I can also see all my bookmarks in one place, as well as any recently visited sites. Here, I have a very powerful search tool. Many eText products today only search on the body of the text. We search on everything. We search on your notes, your highlights, any media that we've captured, images in the textbook, as well as the content and key terms. Another powerful feature, and one most requested by our students in our research, is audio. They listen to their textbooks as they commute to school, or walking from one class to another. Here you can minimize it and listen to it while you look at the text, or you can hide it altogether. Here is our notebook section. We aggregate all the notes you may have taken as you read all in one place. You can sort and filter by chapters, and you can also sort and filter by colors. We know students like to color code their highlighted text. You can also export to PDF, so you can study in whatever format you'd like. Here is our study section. We allow students or enable students to create their own flashcards. We also auto-generate practice questions, as well as key terms that you can quiz yourself on. I'm going to quickly click into the practice flashcards, and here I can just flip, and then I get my results. I can choose to practice again, or I can focus on the ones that I got incorrectly. We'll navigate back. The last piece is the text settings. This allows us or the user to really change the formatting, increase font size, move from a sans serif to a serif, move to sepia or dark tone. This provides a lot of powerful accessibility benefit to the students, and we'll be continuing to invest in accessibility over the long term of this product. I'm going to go back to the homepage. This is just the beginning. We're really excited. The future is really laid out, and we have an amazing roadmap coming up. Can't tell you about that. This is going to be a product that we continue to invest in, and we're going to treat it like a proper consumer product that people want to use, not that the people have to use. I'm going to hand it back over to you, Andy. Thanks a lot, Mike. In summary, we're making great progress. We've rapidly implemented the group's reorganization into five focus businesses. Our strong leadership team is now in place and helping me to evolve our culture across Pearson. We're further strengthening our commitment to transparency and accountability with the introduction of our new business and operational KPIs today. The strategic review of our international courseware local publishing businesses is now largely complete. Finally, we've made strong progress with our Direct to Consumer strategy with the launch of Pearson+ today. With all of that, Sally and I will now be very happy to take your questions. Over to you, Joe.