Strategic Report Letter to shareowners continued Client developments Data&Digital Media capabilities through 2021 saw the expansion of our major client TOMORROW in China and Datalicious and relationships with additional remits and Destined, both in Australia. Media.Monks also geographies at brands including Google, added significant talent from competitors in the Meta, PayPal, HP, Netflix, Procter & Gamble, areas of new digital media social content and Mondeleˉz and BMW. We also saw significant digital government communications. new business with engagements from new Finally, Media.Monks entered a third practice, clients including Allianz, Miele, Instacart, Technology Services, through South American- Pearson, Canva, Constellation Brands and M1. based Zemoga. We had six ‘whoppers’ (clients with revenues Media.Monks has integrated each combination over $20 million per annum) in 2021, as into our now three practices: Content, opposed to only two in 2020. We have also Data&Digital Media and Technology Services. now identified 19 more potential ‘whoppers’, One of the consequences of the pandemic where we currently project $5-15 million of was an acceleration in consolidating separate revenue per annum and which potentially could offices on a city-by-city basis, as existing break through the $20 million per annum level leases were terminated more quickly. We are over the latest three-year planning period now planning new leases with an approximately for 2022-24. We anticipate that a further five 60% pro-rata capacity floor plate, assuming clients may well become ‘whoppers’ this year office occupation of three days a week making a total of 11 in 2022, well on the way on average. to achieving our 202 objective. Practice developments There is little doubt that we will not return to the old normal in terms of office location, layout 2021 also saw significant strengthening and and use. There will be more flexible working deepening of our Content and Data&Digital from home, probably about 40% of the working Media practices. Our newly launched unitary week, with more flexible commuting times, brand, Media.Monks, broadened and more dispersed working and living patterns and deepened its geographical footprint in 2021 different office layouts, with separate spaces and so far in 2022. It added North and South for our people to meet, to work and to engage American Content and Data&Digital Media with clients. capabilities through Jam3, Racoon Group, We are also increasingly consolidating Cashmere, Maverick Digital and 4 Mile. our strategic, client content, data and In Europe, Middle East & Africa, Media.Monks programmatic and technology services offer entered the German and Italian markets at the S4Capital level. through STAUD STUDIOS and Miyagi. In Asia Pacific, we added Content and Media.Monks entered a third practice, Technology Services, through South American-based Zemoga 12 S4Capital Annual Report and Accounts 2021