A：Non GAAP financial measures discussed included adjusted EBITDA, and the reconciliation of these measures to the nearest comparable GAAP measures can be found in the presentation materials.

A：The company has achieved cost reduction synergies of $900 million in 2026 and plans to repurpose $5 billion in shares, with completed share repurchases of $3 billion and an expectation to complete an additional $500 million by the end of 2026.

A：The new Omnicom is an integrated operating company combining leading talent and capabilities across creativity, media, commerce, consulting, data, and technology, designed to provide clients with easier access to these services and better business outcomes.

A：The areas of focus for Omnicom's growth strategy include enhancing client partnerships and attracting new clients, with specific sectors like sports, media, production, and social being leveraged for client growth and transformation.

A：The company is very pleased with its performance in the second quarter and the first half of the year, and remains optimistic about the remainder of 2026, having raised full year guidance for organic revenue growth.

A：The core operations slide represents the ongoing operating businesses, excluding dispositions, and includes operating income and EBITDA on a non GAAP adjusted basis. Recent achievements include the completion of several planned dispositions and an aggressive pursuit of net new clients.

A：In the second quarter of 2026, non GAAP adjusted amounts included integration-related costs of $40.1 million and severance and repositioning costs of $47 million.

A：The increase in operating income net interest expense was primarily due to the sum of interpublic debt of approximately $3 million and interest expense resulting from refinancing activity completed during the first quarter of 2026, which added up to a $61 million increase.

A：Non GAAP adjusted diluted EPS grew 29.3% to 2060 5 cents from 2000 5 cents last year, driven by an increase in related net income.

A：Fully diluted weighted average shares outstanding for the second quarter were 281 million, down 10% from 313.1 million shares outstanding at year end December 31, on a year-over-year basis.

A：The projected revenue impact from planned disposals is estimated to be approximately $300 million in Q3 and $225 million in Q4 with EBITDA margins of approximately 10%.

A：Revenue from core operations in the US was 59%, with the UK and Europe at 23%, Asia Pacific at 9%, Latin America at 4%, and the Middle East and Africa at 2%. In the quarter, US revenue grew in the high single digits, Europe grew in the low single digits, Latin America grew over 10%, Asia Pacific decreased slightly, and the Middle East and Africa declined double digits.

A：Pursuant to the reference to slide tent, the exact revenue weighted by industry sectors of clients was not included in the provided transcript excerpt. However, it is mentioned that pharma and health was the largest category at 18% of revenue, and the auto category decreased to 10% due to a smaller portfolio.

A：The free cash flow for the first six months of the year was affected by the addition of Intpublic business, resulting in an increase. Business dividends increased by 481.5 million, and stock repurchases were $3 billion in the first half of 2026. The company plans to complete the $5 billion share purchase program announced in February by the end of Q1 2027.

A：The impact of the acquisition on the company's leverage ratio is positive, as at June 30, 2026, the company was in compliance with the leverage ratio covenant in its credit facility, resulting in a total leverage ratio of 2.4 times, which is lower than the 2.6 times at June 30, 2025.

A：The drivers of organic growth include the expansion of services to the existing client base and the development of a nascent organization with qualified personnel. The company is focusing on opportunities to service clients through appropriate subsidiaries and is being proactive about discussing these opportunities. Additionally, the company has a more sophisticated corporate approach to new business.

A：Yes, the company is continuing to invest in the business and the Omni platform, which is contributing to the overall improvement in EBITDA dollars and margin in the first quarter. This investment is expected to continue to support growth and profitability.

A：The client sentiment is focused on obtaining value for every dollar spent on marketing and wanting certainty and measurable outcomes from their investments. The company has built a modern and integrated ecosystem of growth, combining leading data and identity solutions with best-in-class commerce and retail media unified in Omni. This allows the company to address client needs effectively.

A：The company is seeing existing clients grow by helping them better convert audience strategies, leading to more impactful and smarter activation and improved attribution and measurement. Growth is being seen in both new clients and existing clients, and the company hopes this trend will continue.

A：The growth rate post the acquisition of IPG, especially after divesting slower-growing businesses, is expected to be sustainable due to the focus on synergies, the sale of non-core assets, and the improved portfolio of assets that are more in line with the company's operating model. The company has sold off low- or no-growth companies that were拖累 organic growth and has also gained scale in certain businesses, which is expected to support growth. The company is now more of an operating company than a holding company and is confident in the changes and the geographies selected.

A：The company expects double-digit EPS growth and is confident that the performance will remain strong for the remainder of the year, with an expectation of high teens growth. The guidance for the full year is for diluted EPS growth greater than 15%. The company is on track with synergies, new business, and the new portfolio, which supports the confidence in delivering strong diluted EPS growth.

A：Although organic growth was good, the earnings growth did not seem as substantial. However, the actual EBITDA growth was in excess of 188 million, and the EPS growth was more than 20% with a 200 basis point margin improvement. Despite this, the specific reason for the discrepancy between revenue and earnings growth in the recent quarter was not fully explained in the transcript.

A：Revenue growth is attributed to the flow-through of the new business, growth in the operating companies, delivery of synergies, and continued investment in the business to support sustainable growth.

A：Reinvesting in the business is crucial to achieve sustainable growth by improving operating results, which allows for further investment in the business, creating a continuous growth process.

A：The updated guidance indicates that the revenue held for sale has increased to between $3.5 and $3.6 billion from $3.2 billion previously discussed. The increase is mainly due to businesses in the advertising category, with 60% of the rise related to these assets.

A：The company is about halfway through the $900 million in synergies, with an expectation of a similar progression in Q3 and Q4 as per the plans announced in December.

A：The company is in the process of reviewing its portfolio and has not made a final decision on whether to keep certain assets long term. Factors under consideration include the potential sale price of these assets.

A：The macroeconomic environment is cautiously optimistic despite challenges such as the situation in the Middle East. Clients' plans suggest an adjustment to current conditions and an expectation of less impact from these challenges compared to previous months.

A：The advertising group is implementing a more connected and centrally driven approach, resulting in changes such as brand realignment and the elimination of some brands. There has been a lot of internal activity, including the disposal of small low-growth agencies in various markets to streamline operations.

A：The revenue from the sale of businesses is a mix of what has already been sold and what is expected to be sold. Of the businesses they intend to sell, about 60% have been sold or completed, and 16% of the annualized revenue has been sold. For the current quarter (Q2), the contribution from the assets being sold is expected to be $300 million in revenue and around a 10% margin. For the next quarter (Q4), it is expected to contribute $225 million of revenue with a similar 10% margin.

A：The estimated revenue contribution from the businesses being disposed of is $300 million in the current quarter (Q2) and $225 million in the next quarter (Q4). The EBIT contribution for Q2 is not specified, but for Q4, it is expected to be around the 10% margin or so.

A：The $87 million of adjustments mentioned are composed of $47 million related to severance and repositioning costs associated with implementing synergy and cost reduction plans, and $40 million related to integration costs as the company combines with another entity. The World Cup had a significant impact on the company's financials, contributing to the growth in the experiential and other category by over 10%.

A：The most significant AI-related cost savings are related to the efficiency and effectiveness of AI in generative workflows and data fueling, which helps achieve better results and outcomes for clients. Cost savings are shared with clients, and they are generally reinvesting these savings immediately into the marketplace. Clients are aware of the measurement and the results are communicated to them regularly.

A：The base used for calculating the P/E ratio is the non-GAAP EPS of $865 from the prior year's actual results for the same period, adjusted for the inclusion of IPG for the month of December. In terms of the new business, the environment is described as brutal, but the company is winning and is in a fair share of the market. There is an acknowledgement that competition from other capable companies makes the business better.