John Wiley & Sons : Needham Technology, Media, and Consumer Conference

Investor Presentation

Needham Conference

May 16, 2024

SAFE HARBOR STATEMENT

This presentation contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. Reliance should not be placed on forward-looking statements, as actual results may differ materially from those in any forward-looking statements. Any such forward- looking statements are based upon many assumptions and estimates that are inherently subject to uncertainties and contingencies, many of which are beyond the control of the Company and are subject to change based on many important factors. Such factors include, but are not limited to: (i) the level of investment in new technologies and products; (ii) subscriber renewal rates for the Company's journals; (iii) the financial stability and liquidity of journal subscription agents; (iv) the consolidation of book wholesalers and retail accounts; (v) the market position and financial stability of key retailers; (vi) the seasonal nature of the Company's Learning business and the impact of the used book market; (vii) worldwide economic and political conditions; (viii) the Company's ability to protect its copyrights and other intellectual property worldwide (ix) the ability of the Company to successfully integrate acquired operations and realize expected opportunities; (x) the Company's ability to realize operating savings over time and in fiscal year 2024 in connection with our multi-year Global Restructuring Program; (xi) the possibility that the divestitures will not be pursued, failure to obtain necessary regulatory approvals or required financing or to satisfy any of the other conditions to planned dispositions; and (xii) other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.

NON-GAAP MEASURES

In this presentation, management may provide the following non-GAAP performance measures:

• Adjusted Revenue
• Adjusted Earnings Per Share ("Adjusted EPS");
• Free Cash Flow less Product Development Spending;
• Adjusted Contribution to Profit ("Adjusted CTP") and margin;
• Adjusted EBITDA and margin;
• Organic revenue; and
• Results on a constant currency ("CC") basis.

Management believes non-GAAP financial measures, which exclude our held for sale or sold businesses, impairment charges, and the impact of restructuring charges and credits and other items, provide supplementary information to support analyzing operating results and earnings and are commonly used by shareholders to measure our performance. Free Cash Flow less Product Development Spending helps assess our ability over the long term to create value for our shareholders. Results on a constant currency basis removes distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period applying the same foreign currency exchange rates for the current and equivalent prior period. We have not provided our 2024-2026 outlook for the most directly comparable U.S. GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with U.S. GAAP.

FOCUS+OPTIMIZE

Our Strategy for Success

Matthew Kissner

Interim President & Chief Executive Officer

The Knowledge Company

Wiley enables the creation and curation of knowledge, and its application in science, learning, and innovation

Wiley today: A global leader in Research & Learning

Top 3	10,000+
Global	Research
research	institutions
publisher	served

#1

Research

distribution

platform

45M

Research articles

hosted (50% of global archive)

600+

Society

partners

12M+

Researchers

served

annually

4.6B

Annual reader

sessions on

Literatum

2,000+		#1
Wiley &		Business &
partner journals		management
published		publisher

#1

Chemistry &

materials science

publisher

12M

Academic & professional books sold annually

5

Strong foundation for long term success

$1.6BFY23 Adjusted Revenue

$173MFY23 Free Cash Flow

82% Digital+Services Revenue

1.5x Net Debt-to- EBITDA Ratio

23% FY23 Adjusted

EBITDA Margin

48% Recurring

Revenue

47% NonRevenue-US

30Yrs Of Consecutive

Dividend Increases

Adjusted results excluding Held for Sale or Sold businesses except free cash flow and net debt	6
All figures are for Fiscal Year 2023 (FY23) unless stated

Publishing and Knowledge Solutions for Researchers, Innovators, Leaders, and Learners

FY23 adjusted revenue: $1,627M

FY23 adj. EBITDA: $379M1

Research

FY23 adj. revenue: $1,080M (66% of total) FY23 adj. EBITDA: $377M (35% margin)

Learning

FY23 adj. revenue: $547M (34% of total)

FY23 adj. EBITDA: $158M (29% margin)

Research Publishing

Research journals

Author services

FY23 adj. revenue: $927M

(57% of total)

Research Solutions

Publishing solutions Audience solutions

FY23 adj. revenue: $153M

(9% of total)

Academic

Academic courseware

Advanced content

FY23 adj. revenue: $305M

(19% of total)

Professional

Professional publishing

Assessments

FY23 adj. revenue: $242M

(15% of total)

(1) Including unallocated Corporate costs of $156M	7

Expanding GenAI opportunity

Content

Licensing

Train foundational GenAI models with our high- quality and authoritative content catalog

Product & Publishing	Business Model		Colleague
Innovation	Innovation		Productivity
Transform the publishing	Develop new content		Empower colleagues,
experience for authors	application models that		unlock productivity
and editors; add new	bring Wiley closer to the		gains, and improve
customer features	customer		customer experience

Wiley's content is foundational for training GenAI models and for future application

8

Wiley is well-positioned for success

			Focusing on our core businesses, aligning resources and capital to our
		1
		strongest and most profitable opportunities
			Taking action to drive Research market share, driving submission growth,
		2
		and strengthening our brands and partnerships while maintaining quality
			AI and machine learning enable incremental growth and profitability
	3
			opportunities, and drive productivity gains

1. Accelerating deployment of our market-leadingsubmission and publishing platform that delivers a compelling author experience and lower cost-per-article
2. Delivering significant benefits through ongoing optimization, including $130M run-rate savings and expanding EBITDA & FCF generation

9

FOCUS+OPTIMIZE

Financial Overview and Outlook

Christina Van Tassell

EVP & Chief Financial Officer