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Interim Results 2016

Welcome.

This presentation contains statements that are, or may be, forward-looking regarding the group's financial position and results, business strategy, plans and objectives. Such statements involve risk and uncertainty because they relate to future events and circumstances and there are accordingly a number of factors which might cause actual results and performance to differ materially from those expressed or implied by such

• statements. Forward-looking statements speak only as of the date they are made and no

representation or warranty, whether expressed or implied, is given in relation to them, including as to their completeness or accuracy or the basis on which they were prepared. Other than in accordance with the Company’s legal or regulatory obligations (including under the Listing Rules and the Disclosure and Transparency Rules), the Company does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Information contained in this announcement relating to the Company or its share price, or the yield on its shares, should not be relied upon as an indicator of future performance. Nothing in this presentation should be construed as a profit forecast.

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Andy Ransom Chief Executive Officer

2016 Interim Results: Introduction

Strong overall performance in H1 2016

On track to achieve our 2016 revenue, profit and cash expectations.

Jeremy Townsend Chief Financial Officer

2016 Interim Results: Financial Review

Financial Highlights (Continuing Operations)

H1 2016

£ million

CER AER Δ CER Δ AER Revenue – ongoing1 928.4 979.5 11.5% 16.3% Adjusted2 PBITA – ongoing1 107.1 114.3 11.0% 16.2% Adjusted2 PBTA 91.7 98.3 16.9% 22.5% PBT 74.9 80.4 9.2% 14.4% Adjusted2 EPS 3.90p 4.20p 17.1% 23.5% Free cash flow 57.1 Dividend 0.99p 13.8%

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1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets, one-off items and net interest credit from pensions

Progress Against Medium-Term Targets

Building a track record of delivery against targets

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Mid-single digit revenue growth High-single digit profit growth

Strong and sustainable delivery of free cash flow (£110m+ pa)

Revenue1 Growth Profit1,2 Growth Free Cash Flow3

0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 Yr to Dec 2013 Yr to June 2014 Yr to Dec 2014 Yr to June 2015 Yr to Dec 2015 Yr to June 2016 Revenue (£m) Organic Growth % 10 30 50 70 90 110 130 150 170 Yr to Dec 2013 Yr to June 2014 Yr to Dec 2014 Yr to June 2015 Yr to Dec 2015 Yr to June 2016 12.4% 12.6% 12.8% 13.0% 13.2% 13.4% 13.6% 13.8% 160 170 180 190 200 210 220 230 240 250 Yr to Dec 2013 Yr to June 2014 Yr to Dec 2014 Yr to June 2015 Yr to Dec 2015 Yr to June 2016 APBITA Margin

1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets and restructuring costs and one-off items 3 Free cash flow from continuing operations

Charts calculated on a 12-month trailing basis

3 YR CAGR

6.8%

£m £m £m

£110m+

3 YR CAGR

8.7%

Note: H1 organic growth +2.5% (FY 2015: +1.8%)

At constant exchange rates

North America

+4.7% organic growth from Pest Control Operating profit increase (and +1.8% point margin improvement) reflects leverage from higher revenues and acquisitions, including synergy delivery in Steritech Integration of Steritech proceeding well – on track to meet 2016 profit target of $25m to $30m Seven acquisitions in H1 plus Residex on 1 July with annualised revenues of c.$118m Focus for H2: Continued focus on driving organic growth initiatives Ongoing integration of Steritech, Residex and other acquisitions Further margin improvement opportunities from M&A, scale efficiencies and density

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Strong perfor mance in H1 2016 suppor ted by acquisitions Revenue up 39.9% (+4.0% organic),

• perating profit up 64.8%

Group revenue Group operating profit

H1 2016 Growth

Revenue1 £264.9m +39.9% Operating profit2 £31.4m +64.8% Operating margin 11.9% +1.8% points

29% 22%

1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets, restructuring costs and one-off items

At constant exchange rates

Europe

Good revenue growth in Germany (+2.9%), Latin America – managed out of Europe region (+15.3%) and southern Europe (+1.1%) – offset by declines in France (-1.0%) and Benelux (-1.0%) Profit decline driven by revenue reduction and pricing pressure in Workwear across the region, France in particular. Workwear revenues down by 1.8% with net margins lower by 1.5% points Focus for H2: Challenging economic and competitive conditions in France and Benelux anticipated to continue Continued focus on quality initiative in Workwear to mitigate competitive environment and pricing pressure Level of profit decline anticipated to be in line with H1

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Revenue flat, good growth in central Europe Overall perfor mance held back primarily by France

Group revenue Group operating profit 40% 42%

1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets, restructuring costs and one-off items

H1 2016 Growth

Revenue1 £369.0m +0.5% Operating profit2 £61.3m

• 4.3%

Operating margin 16.6%

• 0.8% points

At constant exchange rates

Continuation of growth trend in UK pest control and hygiene operations Further growth in jobbing work in both pest control and property services, portfolio growth in Hygiene Continued revenue growth in RoW, across all regional clusters in the Nordics, Caribbean, Africa and MENAT Increase in operating margins reflecting leverage from revenue growth and continued strong cost control Focus for H2: Further improvements in performance through application of successful UK operating model across the region

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Revenue +4.1% (+3.7% organic) in H1 Operating profit +7.7% reflecting leverage from higher revenue

UK and Rest of World

Group revenue Group operating profit 18% 23%

1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets, restructuring costs and one-off items

H1 2016 Growth

Revenue1 £170.0m +4.1% Operating profit2 £33.1m +7.7% Operating margin 19.5% +0.7% points

At constant exchange rates

Asia

Good performances from both pest control and hygiene businesses Combined revenue growth of 23.9% from India, China and Vietnam Combined revenue growth of 14.5% from Indonesia and Malaysia, supported by acquisitions Profit increase reflecting leverage from revenue growth and service productivity improvements from greater density contributing to +1.7% points increase in net margins Three acquisitions in H1 – two Pest Control, one Hygiene – in Hong Kong, China and Malaysia with annualised revenues of £5.1m Focus for H2: Further M&A opportunities sought to build scale in this key strategic market

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Revenue +11.9% (+7.9% organic growth) in H1 Operating profit +34.3% reflecting leverage from higher revenue

Group revenue Group operating profit 6% 4%

1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets, restructuring costs and one-off items

H1 2016 Growth

Revenue1 £57.9m +11.9% Operating profit2 £5.8m +34.3% Operating margin 10.0% +1.7% points

At constant exchange rates

Pacific

Revenue driven by additional contract revenue from acquisitions, higher levels of jobbing work in Pest Control and improved retention in Hygiene Margin improvement reflecting higher revenues and supported by productivity gains Four acquisitions in H1 (three Pest, one Hygiene) with annualised revenues of £7.0m Focus for H2: Further improvements in performance through improved service productivity

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Revenue +9.4% (+3.6% organic growth) in H1 Operating profit +10.8% reflecting leverage from revenue

Group revenue Group operating profit 7% 9%

1 Ongoing revenue and profit excludes the financial performance of disposed and closed businesses but includes results from acquisitions 2 Before amortisation and impairment of intangible assets, restructuring costs and one-off items

H1 2016 Growth

Revenue1 £66.6m +9.4% Operating profit2 £13.7m +10.8% Operating margin 20.6% +0.3% points

5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 80 85 90 95 100 105 110 115 120 Yr to Dec 2013 Yr to June 2014 Yr to Dec 2014 Yr to June 2015 Yr to Dec 2015 Yr to June 2016 Revenue (£m) Net Margin %

Opportunity to Build Margins in our Growth and Emerging Markets

Nor th America Pest Control

Str ong #3 with national scale

Asia

Driving r evenue g r owth to build scale

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10.0% 11.0% 12.0% 13.0% 14.0% 15.0% 16.0% 200 250 300 350 400 450 500 Yr to Dec 2013 Yr to June 2014 Yr to Dec 2014 Yr to June 2015 Yr to Dec 2015 Yr to June 2016 Revenue (£m) Net Margin %

23.5%

CAGR

9.9%

CAGR

£m £m

Operating Cash Flow

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£ million H1 2016 H1 2015 Adjusted PBITA 114.0 97.4 One-off items (2.1) 0.9 Depreciation 93.8 85.4 Non-cash items1 1.6 7.9 EBITDA 207.3 191.6 Working capital (2.9) (8.0) Movement on provisions (5.4) (5.1) Capex (104.6) (88.5) Fixed asset disposal proceeds2 3.3 3.6 Operating cash flow – continuing operations 97.7 93.6 Operating cash flow – discontinued operations

• (0.6)

Operating cash flow 97.7 93.0

1 Profit on sale of fixed assets, IFRS 2 etc. 2 Property, plant, vehicles

Free Cash Flow and Movement in Net Debt

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£ million H1 2016 H1 2015 Operating cash flow – continuing 97.7 93.6 Cash interest (22.8) (23.5) Cash tax (17.8) (14.7) Free cash flow – continuing 57.1 55.4 Free cash flow – discontinued

• (0.6)

Free cash flow 57.1 54.8 Acquisitions (34.9) (32.7) Disposals 0.5

• Dividends

(37.5) (33.1) FX and other (142.8) 56.2 (Increase) / reduction in net debt (157.6) 45.2 Opening net debt (1,026.6) (775.0) Closing net debt (1,184.2) (729.8)

Capital Allocation

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Continued application of capital allocation model with three core priorities:

• 1. Value-enhancing M&A
• 2. Maintain progressive dividend policy
• 3. Pay down net debt

We are committed to maintaining a BBB credit rating Improved free cash flow deliver y over last two and a half years:

Enabling investment in Pest Control acquisitions, particularly in Growth and Emerging markets 73 businesses acquired with annualised revenues of £323m

17 H1 2015 Closing Net Debt FCF Acquistions/ disposals Dividends Steritech FX/Other H1 2016 Closing Net Debt

730 149 98 53 732 180 1,184 £million 272

Bolt-on acquisitions funded from Free Cash Flow

Net Debt Bridge

H1 2015 – H1 2016

18 H1 2013 Closing Net Debt FCF Acquistions/ disposals Dividends Steritech / IFS net impact FX/Other H1 2016 Closing Net Debt

205 142 1,077 74 1,184 £million

Bolt-on acquisitions and dividends funded from Free Cash Flow

392 1,122 33

Net Debt Bridge

H1 2013 – H1 2016

Balance Sheet

Strong balance sheet supported by credit rating revision to BBB Stable Outlook

• Net debt to EBITDA 2.5x1 (FY 2015: 2.5x)
• Company’s BBB credit rating reconfirmed by S&P and outlook revised from Negative to Stable reflecting

progress with Steritech integration

• Free cash flow target per annum increased to £110m+ for 2016 and £120m+ for 2017
• £75m of centrally-held funds and £130m available of undrawn committed facilities
• Average cost of net debt c. 3.5% p.a. post March 2016 bond refinancing

Pension Scheme Update

• 31 December 2015 valuation provisionally agreed – scheme now in surplus on a technical provisions basis:

– £9.6m of cash currently held in ESCROW to be returned to the Company – No cash payments required for the next three years – we do not anticipate having to make any future cash

payments into the pension scheme

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1Calculated using exchange rates as at 30 June 2016

* Schemes worth in excess of £1.5bn. Rentokil Initial position 1st out of 71 companies. Source: Willis Towers Watson

We have the best funded pension scheme of all benchmarked FTSE 350 companies within the index

• ver the last 10 years*

Delivering Shareholder Value

Transparent reporting on our performance

2016 Reporting Framework

• With the exception of integration costs for significant acquisitions, restructuring costs are now reported above the line:

– First half restructuring costs of £3.8m (H1 2015: £1.8m) - primarily redundancy costs relating to initiatives to deliver operational

efficiencies and service quality improvements in Europe

– Increase on the prior year reflects phasing of projects – guidance for full year of c. £7m – First half one-off costs of £2.0m (H1 2015: £1.1m credit) largely relating to Steritech integration – full year guidance of c. £5m

• Organisational structure unchanged and locked down - therefore no changes to reporting structure

EU Referendum

• Approximately 90% of the Company’s revenues are derived from outside the UK
• Minimal cross-border trading across our global businesses:

– Businesses registered locally, pay taxes locally, employ people locally

• Sterling has weakened significantly since the outcome of the vote:

– We borrow in EUR and USD to hedge profit generated outside the UK and the weakening of Sterling has therefore resulted in an

increase in net debt at the half year

– Offset by an estimated favourable currency impact on profit for 2016 of around £26m – an increase of c. £11m on guidance previously

given at our Preliminary results 20

Summary and Guidance for 2016

H1 2016 Financial Summary

Ongoing revenue increase of +11.5% Improvement in organic growth +2.5% (+1.8% PY) Ongoing profit increase of +11.0% £57.1m free cash flow Balance sheet remains robust Interim dividend increase of +13.8% year on year Expectations for FY 2016 unchanged

Guidance for 2016

• Central & regional overheads c. £3m higher than the prior year

reflecting impact of increased Long-Term Incentive Plan costs

• Above the line restructuring costs c.£7m
• One-off costs estimated at £5m (including Steritech integration

costs)

• Interest costs £37m – cash interest around £15m higher than P&L

impact reflecting timing of payments and weakness of Sterling

• Adjusted effective tax rate of 22%; cash tax payable of c.£35m

to £40m

• Impact of exchange rates on profit – favourable impact c. £26m

based on current rates

• Other cash flow guidance:
• Working capital outflow around £10m
• Net capex c. £210m - £220m
• M&A spend on acquisitions c.£70m to £80m
• Free cash flow in excess of £110m

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Andy Ransom Chief Executive Officer

2016 Interim Results: Strategy Update

Consistent strategy

Our colleagues as Experts Strong Regional Businesses

• North

America

• Europe
• UK & Rest of World
• Asia
• Pacific

Lean, Multi-Business Operations

Branch

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Capital allocation model

Differentiated strategies Increasing exposure to Growth & Emerging markets Growth

Profit EMERGING PROTECT & ENHANCE MANAGE FOR VALUE GROWTH

Pest Control: Accelerate Hygiene: Operational execution Workwear: Quality focus

Leadership in our Business Lines Levers to drive profitable growth

Digital expertise Sales effectiveness Density building Innovation Service efficiency & retention V alue creating M&A

Medium-term targets: Mid-single digit revenue growth High-single digit profit growth Strong and sustainable delivery of free cash flow (£110m+ pa)

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Rentokil: Global Leader in Pest Control H1: Strong Performance

Market Position Number of Rentokil Markets Established Emerging Total

Number 1 15 31 46 Number 2 3 9 12 Number 3 3 2 5 Number 4/5 2 1 3

World-class business performing well

H1: +5.5% organic growth (+4.6% FY 2015)

• India +27.4%, Indonesia +19.2%, China +15.6%
• Chile +14.0%, Brazil +10.5%
• Germany +7.9%, USA +4.8%, UK +5.0%

Pest Control: 55% group operating profit, 18.8%

• perating margin (12-month average) and now post

Residex >50% group revenue

Accelerating Growth in Pest Control

Strong H1: Building on market-leading positions

At CER

Revenue: £454.4m Profit: £80.4m +25.1% +28.1%

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Structural market growth drivers:

Population expansion and urbanisation especially in Emerging markets Growing middle classes with rising expectations in hygiene standards at home and at work Economic activity in growth markets combining economic growth and increasing market penetration International standards such as the expansion and convergence in auditing standards for food safety Legislation and regulatory change – increased legislation combined with tighter enforcement and auditing Increasing pressure from pest species increasing prevalence and disease risk (eg mosquitoes and Zika virus)

Good long-term growth prospects

Pest Control market - expected CAGR between +4% and +5% through to 2026

Source: Various industry market reports.

Accelerating Growth in Pest Control

Consistent delivery in attractive and growing market

Threat from vector-borne diseases

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13.5

Accelerating Growth in Pest Control

Rentokil: Multiple organic growth levers

Global and National commercial accounts – coordinated global sales organisation and now ‘on the map’ for NA national accounts following Steritech acquisition Technical expertise - shared across markets Emerging markets – leading market positions Innovation – strong pipeline in place, particularly important in our established markets Digital leadership – enabling our sales and service teams with market-leading digital tools (use of Apps, customer portals). Web expertise: +10m visits in the last 12

• months. Double digit growth in all major markets YTD

Multiple oppor tunities to drive

• rganic growth in pest control:

Global leader with scale and expertise to drive organic growth

£639m £659m £692m £724m £786m £877m 2.3% 2.2% 3.0% 4.2% 4.5% 4.8%

1.0 2.0 3.0 4.0 5.0 6.0 7.0 500 550 600 650 700 750 800 850 900

YR TO DEC 2013 YR TO JUNE 2014 YR TO DEC 2014 YR TO JUNE 2015 YR TO DEC 2015 YR TO JUNE 2016

Revenue £m Org Revenue Growth

14.7%

3-year REVENUE CAGR

Note: H1: +5.5% organic growth (+4.6% FY 2015). £m

Focused on most attractive sectors such as food processing, hospitality and healthcare:

International Sales Global sales organisation in place across our five Regions. First major contract signed with a global food & agricultural products company. Global framework approach with local country terms and pricing. North America National Accounts Leveraging combined Rentokil-Steritech team – a significant capability

• uplift. Standardised approach – metrics and sales processes.

+60% national account sales YTD.

Strong pipelines, particularly in food processing

Accelerating Growth in Pest Control

Opportunity to develop Global and NA National Accounts

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Rentokil: Global Leader in Pest Control International scale Covering >90% of global GDP Consistency of standards, tools and training Co-ordination of delivery across Regions

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CDC has chosen Rentokil in USA for the monitoring, control and prevention of the Zika virus:

Rentokil has been awarded a contract by the U.S. Centers for Disease Control and Prevention to conduct a programme to help combat the species of mosquitoes that may carry Zika. The requirements of the program are to provide pest control services for two years, subject to government review. Runs from June 2016. The contract also includes support services that entail:

• Community outreach
• Surveillance and inspection
• Support for distribution of materials and educational information.

Rentokil’s expertise is trusted to protect people

Accelerating Growth in Pest Control

Integrated Mosquito Management in USA

29 Zika Dengue Dengue Chikungunya Japanese Encephalitis

Accelerating Growth in Pest Control

Mosquito control – protecting people across the globe 500,000 people with severe dengue require hospitalisation each year (Source: WHO)

West Nile Virus

Rentokil has a strong overlap

between its leading market positions and those geographies such as the Americas (eg Zika & Dengue) and Asia (eg Dengue) where mosquito-borne disease is threatening public health.

Market leading presence

in Emerging markets across Asia as well as Latin & Central America. A platform for the future.

Dengue Chikungunya Yellow Fever Malaria

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Digital Pest Control

Rentokil is leading in Internet of Things (IoT) services

"We are really excited to be partnering with Rentokil Initial… on a truly unique digital offering… a fantastic demonstration of how IoT can bring tangible business value …"

Preston Holmes, Head of IoT Solutions, Google

Digital delivers more productive ways of working across the entire customer journey

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Internet of Things

Rentokil has the digital know-how to enable our experts, enhance our service and boost productivity.

Web presence – 10m+ visits p.a. and ‘double digit’ traffic growth in key markets Customer portals – myRentokil, myInitial, myAmbius – 60,000 registered customers Smartphone and tablets – 10,000 sales and service colleagues E-commerce – 55,000 quotes online for wasp work Apps – cloud-based Apps such as ServiceTrak Collaboration tools – 600,000 ‘Hangout’ minutes per month Web-based tools – Service+ for route optimisation – 10% productivity gains E-billing – UK saves 40,000 pieces of paper per month Leading in digital pest control – ‘Internet of Things’ in action Collaboration with Google and PA Consulting 20,000+ connected products in the field, 12 countries 3m individual sensor messages delivered already

Market-leading connected products – being deployed at scale

Executing Now in Hygiene

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World’s leading hygiene services business Hygiene: Leading Market Positions H1 2016: Continuing revenue growth

Market scale and operational execution to drive profitable growth

Revenue: £219.8m Profit: £39.9m +4.2% +0.5%

H1: +2.5% organic growth (+2.3% FY 2015).

• France + 4.8%
• Pacific +3.2%, Malaysia +6.1%, Indonesia +8.2%
• UK +5.1%, Ireland + 9.8%

Hygiene: 24% group revenue, 27% group operating profit, 19.1% operating margin (12-month average)

At CER

Market Position Number of Initial Markets Established Emerging Total

Number 1 14 5 19 Number 2 6 4 10 Number 3 6 2 8 Number 4/5 1 3 4

0.5% 1.6% 2.3% 2.7%

YR TO DEC 2014 YR TO JUN 2015 YR TO DEC 2015 YR TO JUN 2016

Executing Now in Hygiene

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Key revenue KPIs moving in the right direction

Hygiene: Leading Market Positions

Revenue CAGR of 2.8% over the last 3 years. Organic revenue growth in H1 2016 of +2.5% (2.3% full year 2015). All revenue KPIs in H1 moving in the right direction:

• Customer retention 83.0% to 84.8%
• Organic net gain +3.7%
• Contract revenue +3.9%
• Job revenue +9.7%
• Product revenue +17.0%

Signature launched

Organic revenue coming through – further opportunities for growth

Reflection launched Signature Colour launched

Hygiene: Organic revenue

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Product Density Customer Density

Multiple services Significant leverage in Hygiene through selling multiple services. High quality ranges now in place. Training of sales teams and promotional campaigns underway. EG Germany ‘Hygiene Gazette’ with incentive to replace out competitor units with Signature.

Executing Now in Hygiene

Operational execution to drive growth and margin expansion

Smarter operational execution is driving density in Hygiene

Service+ New tool (as used in Pest) under pilot for territory and daily route

• planning. Routes are automatically
• ptimised. Easy visualisation of
• capacity. First time use of territory

planning targets 10% productivity gains.

Customer Density

Enabled by Digital Leadership in digital – with sales & service tools, web and connected products continuing to drive sales and customer awareness of multiple product options eg MyInitial customer portal and range selling focus of initial web sites. M&A Undertaking the same route density strategy from Pest into Hygiene – using small, highly targeted acquisitions to build city density and so amplify margins. 3 acquisitions in H1.

Focusing on Quality in Workwear

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Delivering differentiation through product and service quality Workwear: Scale across Europe H1: Operational improvements against KPIs

• No. 2 in Europe and the only company with scale

across the four main continental European markets of France, Germany, Belgium and the Netherlands. Scale: 51 laundries, c.125m washes each year, c.15m garments in circulation. Workwear: 18% group revenue, 13% group operating profit, 12.7% operating margin (12-month average)

Revenue: £171.0m Profit: £18.6m (1.8%) (14.3%)

Workwear: Continues to be under significant pricing pressure particularly in France but also competitive environment in Benelux. Quality strategy: The best approach to mitigate this. H1 2016: Good progress against Quality agenda in market conditions which remain difficult for Workwear

• State of Service + 2.3%
• Customer Retention +2.1%

At CER

Focusing on Quality in Workwear

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Quality agenda making progress

Quality agenda – making progress against operational ‘quality’ KPIs:

Safety performance: Best recorded result for 5 years Laundry OTIF: Best ever recorded results - France in particular Wash Quality: Complaints on wash quality reducing. Missing Item Complaints: Down in all markets, also good progress in compliant resolution. Contract to bill period: New workflow tools introduced in all markets to reduce timeframe. Responsiveness: Target of 85% of all customer calls being answered in 15 seconds now being met in most branches State of Service: Best recorded result for +5 years and customer satisfaction (CVC) up for 6 quarters in all markets.

Good start with service quality and retention improvements

Focusing on Quality in Workwear

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Underpinned by strong, rigorous processes Innovation Process Product development Performance monitoring

RFID: Undertaken pilots across all markets and all service lines now completed. CO² washing system: Analysis from USA and piloted extensively with potential new customer groups in Benelux eg Fire Service Reduction in SKUs: Combined local and European ranges; greater visibility – exiting 20% SKUs New Industrial and PPE ranges: Stronger mid-range, rolled out in H1. New Cleanroom ‘Coverall’: Designed & developed in house – building capability & processes. Processing KPI scorecards:

– Country – Service line – Processing plant – Daily and weekly reporting at branch level incl. state of service

Sales KPIs metrics:

– Full range of efficiency and effectiveness measures – Every business line and country

Focused plan being executed… but much more to achieve

1 Dublin, Republic of Ireland 2 Kuala Lumpur, Malaysia 3 Nationwide, New Zealand 4 1 Miami, Florida, USA 1 Edmonton, Alberta, Canada 2 Idaho, USA 3 Michigan, USA 4 Chambersburg, USA 5 Elizabeth City, North Carolina, USA 6 Honduras 7 Madrid, Spain 8 Sursee, Switzerland 9 Rum, Austria 10 Duisburg, Germany 11 Velbert, Germany 12 Various, China 13 Hong Kong 14 Alice Springs, Australia 15 Victoria, Australia 16 Timaru, New Zealand

Profitable Growth Enhanced by Acquisitions

38 1 4 5 11 10 8 6 9 12 13 2 3 3 Pest Control Hygiene 1

20 acquisitions in H1; c.£100m annualised revenues inc. Residex*

Strong pipeline in place

1 2 7 14 16 Plants 1

* Residex acquisition acquired 1 July 2016

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Review: Acquisitions 1/1/14 to 30/6/15: 2 small acquisitions delivering expected returns slightly lower than their quadrant’s target hurdle rate. All other deals - returns at or above their respective target level.

Quadrant Strategy

H1 2016 Strong performance in higher GDP growth markets – Growth (+18.8%) and Emerging (+17.4%). Now 70% of group revenues.

Revenue growth fuelled by acquisitions and good organic growth in Asia, LatAm, UK and North America. Good performance by Manage for Value countries to maintain revenue and grow profits, although a very small part of the Group. Retention improvements in Protect & Enhance despite difficult conditions in workwear.

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EMERGING GROWTH MANAGE FOR VALUE PROTECT AND ENHANCE

Revenue +17.4% to £78.3m Operating profit +29.4% to £9.4m 4 acquisitions in H1 2016 to build density Asia revenue +12.6% (8.5% organic) LatAm revenue +15.3% (12.0% organic) Revenue +18.8% to £552.9m Operating profit +20.5% to £92.5m 15 acquisitions in H1 2016 NA revenue +38.5% (4.0% organic) UK revenue +3.5% (3.3% organic) Revenue +0.5% to £28.5m Operating profit +4.7% to £4.1m 1 acquisition in H1 2016 to build density Revenue –1.2% to £268.5m Operating profit ‐7.6% to £39.3m Customer retention +1.3% in line with P&E strategy (France +1.6%) France remains challenging

Capital allocation model working well

• Strong overall performance in H1 with ongoing revenue +11.5% and profit +11.0% (CER).
• Pest Control revenues +25.1% with organic growth of +5.5%:
• Steritech integration on track.
• Following acquisition of Residex, Pest Control now > 50% of group revenue and profits.
• Digital leadership – ‘Internet of things’ is a reality in the field today driving sales and service

effectiveness and efficiency; partnering with best in class companies Google and PA Consulting.

• Continued organic revenue growth in Hygiene up 2.5% in H1; focused on delivering product density.
• Workwear Quality agenda – while encouraging operational progress, challenging conditions remain in

France and Benelux in particular.

• Capital allocation strategy working well:
• 20 acquisitions in H1, 19 in Growth and Emerging markets, 16 in Pest Control.
• Expansion in North America - set to become $1bn business by year end – a key Growth market.
• Declared 13.8% increase in dividend to 0.99p.

Strong Performance in First Half

On track to achieve our 2016 revenue, profit and cash expectations

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Proud to Support

Business Lines in H1 2016

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Global leadership in Pest Control and Hygiene

Pest Control: 49% Group Revenue, 55% Group Operating Profit, 18.8% Operating Margin (12-month average) Hygiene: 24% Group Revenue, 27% Group Operating Profit, 19.1% Operating Margin (12-month average) Workwear: 18% Group Revenue, 13% Group Operating Profit, 12.7% Operating Margin (12-month average)

Revenue: £454.4m Profit: £80.4m +25.1% +28.1%

+5.5% organic growth (+4.6% in FY 2015). Strong digital and innovation pipeline – Connect, AutoGate. Increasing scale in Growth and Emerging markets. 16 acquisitions. Residex in July 2016 (Pest >50% Revenues). Plan to accelerate growth

Revenue: £171.0m Profit: £18.6m (1.8%) (14.3%)

Challenging conditions remain in France and Benelux Quality agenda underway across Europe to mitigate. Measurable progress against KPIs including wash quality, service and customer satisfaction.

Revenue: £219.8m Profit: £39.9m +4.2% +0.5%

+2.5% organic growth (+2.3% in FY 2015). Positive revenue trends - sales and retention Good performances: France +4.8%, Pacific +3.2%, UK +5.1%. Strong ranges incl. No Touch, Colour, etc. Plan focuses on operational execution – product density.

Group Revenues by Quadrant

2013

Strategy into Action: Moving revenues into higher growth quadrants. 70% of group revenues: H1 acquisitions and Residex (1/7/2016).

32% 29% 35% 4%

Emerging Growth Manage for Value Protect & Enhance

70% of group revenues now in Growth and Emerging

32% 29% 35% 4% 62% 3% 27% 8%

Changing shape of group revenues, as at 1 July 2016

44

2016

Capital allocation

45

Continued application of capital allocation model, with three core priorities:

• 1. Value-enhancing M&A, 2. Maintain progressive dividend policy, 3. Pay down net debt

Sustainable Free cash flow of £110m+ Annual M&A spend of c. £50m Progressive dividend policy £17m £72m £124m £171m £150m £148m

0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 Yr to Dec 2013 Yr to June 2014 Yr to Dec 2014 Yr to June 2015 Yr to Dec 2015 Yr to June 2016

£110m+

0.67 0.7 0.77 0.87 0.99 1.43 1.61 1.82 2.06

2012 2013 2014 2015 2016 Interim Final

10% 12.1% 13.1% 13.8%

2013 2014 2015 HY 2016 Bolt-ons Strategic Steritech £12m £68m £369m £35m £97m

Note: Numbers in chart at CER