CJS Securities Conference New York, NY January 15, 2014

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1 CJS Securities Conference New York, NY January 15, 2014

2 Forward-Looking Statements This presentation contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. Reliance should not be placed on forwardlooking statements, as actual results may differ materially from those in any forward-looking statements. Any such forward-looking statements are based upon a number of 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 online retailers; (vi) the seasonal nature of the Company's educational 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; and (x) 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 forwardlooking statements to reflect subsequent events or circumstances. 2

3 Wiley Profile Year Founded 1807 Business Description Ticker Symbol Market Cap (on 1/10/14) Annual Revenue (FY13) Knowledge and knowledgeenabled services that improve outcomes in research, education, and professional practice JW/A and JW/B $3.15 billion $1.76 billion Number of Employees 5,000+ *FY13 revenue adjusted to exclude operational results of divested consumer publishing program (in professional development) Americas 57% EMEA 24% Asia Pacific 19% 3

4 Foundational Strengths Essential knowledge for researchers, professionals, educators and students High quality content (top journal ratings, peer review process, unique IP) Optimized for digital delivery and services CONTENT BRANDS 1,500 prestigious journal brands Recognized authors and leading brands in education and professional Deltak and Wiley brand equity in online program management Strong recurring revenue base Stable operating margin Attractive cash flow Strong balance sheet with considerable capacity for acquisitions FINANCIAL STRENGTH COMMUNITIES Largest academic society publisher (800+ partners) Vertical presence in professional and academic communities Strong relationships with educational and commercial institutions 4

5 First Half Fiscal 2014 Results Significant progress in migrating to digital knowledge and services Digital and services represented ~53% of 1H revenue vs. 45% in the prior year period; print book publishing down to 31% of total revenue Success in growing and evolving through acquisitions, including in areas of online program management, leadership assessment and training, and professional certification Solid financial performance Adjusted revenue up 6% due to growth in journal subscriptions, education and professional solutions, and digital books Adjusted EPS up 6% with revenue growth and restructuring savings offsetting higher technology spend Restructuring activities on track Plans completed and approved for approximately $70M of the projected $80M in run rate savings for fiscal 2015 Sustained emphasis on returns to shareholders Dividend increased for 20 th consecutive year Additional 4 million share repurchase program authorized 435K shares repurchased in the first half 5

6 Expected Near Term Performance Trends Research: confident journal subscription outlook; move to digital books accelerating Professional Development: strong growth from professional services and digital books; print book decline expected to continue Education: education solutions and digital products to offset decline in print textbooks and accelerate growth Guidance reiterated for FY14 Low single digit adjusted revenue growth, and adjusted EPS of $2.85 to $2.95 Restructuring to lift earnings in FY15 More than half of $80 million in run rate savings expected to go to improving earnings; remainder to go to reinvestment 6

7 Areas of Strategic Focus Continue to digitize base business Move up the value chain to enable improved productivity and outcomes in research, professional, and education markets Tap into new revenue sources by leveraging existing content, services and relationships Acquire high growth, high margin, solutions based businesses and/or capabilities in areas of research workflow, professional development and outcomes based learning 7

8 Financial Goals Attribute FY14 Estimates FY17 Goals Base business* Annual revenue growth % Share of revenue Solutions business** Annual revenue growth % Share of revenue Low single digit 90% Strong double digit 10% Low single digit 75% Strong double digit 25% Total annual revenue growth % Low single digit Mid single digit Operating margin 14% >17% Annual EPS growth Flat >10% * Print and flat digital content (journals, books, etc.) ** Online program management, talent management, course management, test prep and certification, digital research, workflow tools, study tutorial remedial, courseware, etc. 8