Universal Registration Document 2025

Publicis Groupe is reaping the rewards of Maurice Lévy’s vision and the work our teams have done to implement it. Thanks to our AI-driven growth model, we are entering our second century stronger than ever.

Publicis has gone through a radical transformation over the past decade, moving from being a communications partner to our clients to being their preferred partner in their transformation. We have established a true “Category of One,” for ourselves thanks in large part to our unrivaled position in proprietary data, our connected media ecosystem, our intelligent creativity capabilities, and our 25,000 engineers and IT consultants, all united through the Power of One. Since the rise of generative AI three years ago, our growth model has shown that, far from being a tailwind, artificial intelligence is a strategic driver of growth and margin improvement for Publicis. During this period, we have increased our net revenue and operating income by nearly 20% on an organic basis, widening the gap with our peers.

In an environment that remained challenging, we delivered net revenue organic growth of +5.6% in 2025, 700 basis points ahead of our holding company peers, and an acceleration compared with the average net revenue growth since 2020. This outperformance was made possible in large part by our data-driven Connected Media activities, and to our continued ability to win market share. Our creative agencies regrouped within Intelligent Creativity have shown resilience in the face of budget cuts across the traditional advertising sector. Publicis Sapient continued to face a wait-and-see attitude from some clients regarding their digital transformation projects, a situation affecting all major players in the IT consulting space in general.

A defining feature of 2025 was our Increased investment in artificial intelligence and talent, while we further improved our margin to 18.2% and boosted our free cash flow to over 2 billion euros—financial metrics that were already the highest in the industry. We also confirmed our commercial momentum, ranking once again at the top of the new business rankings.

These very solid results will allow us to propose to our shareholders at the General Shareholders’ Meeting of May 27, 2026, an all-cash dividend of euro 3.75 per share— an increase of 4.2%—and a payout ratio of 50.1%, the highest in our industry.

Now, as we look to 2026 and beyond, mention of course needs to be made of the global situation as it stands at the start of this year. In an environment that is more volatile than ever with ongoing conflict in Eastern Europe and the Middle East, rising energy prices, and the prospect of further tariffs we will remain closer than ever, at our clients’ side, to support them through these uncertain times.

In this context, we have a simple ambition: to be the industry’s MVP—Most Valuable Partner. The MVP for our customers, by designing agentic solutions that generate tangible business results, at a time when 95% of artificial intelligence projects fail to deliver real value. The MVP for our employees, by continuing to see them as a key differentiator and providing them with the tools and training they need to thrive in this AI world. And, the MVP for our shareholders, by focusing on delivering transformative growth versus the consolidation of traditional assets.