(Dollars in tables in millions, except per share amounts.) FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements, including statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. In addition, from time to time, we or our representatives have made, or may make, forward-looking statements, orally or in writing. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of management as well as assumptions made by, and information currently available to management. Forward-looking statements may be accompanied by words such as “aim”, “anticipate”, “believe”, “plan”, “could”, “should”, “would”, “estimate”, “expect”, “forecast”, “future”, “guidance”, “intend”, “may”, “will”, “possible”, “potential”, “predict”, “project” or similar words, phrases or expressions. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of our control. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: •risks relating to the Merger, including risks related to the integration of IPG’s business, such as, among others: uncertainties associated with retaining key management and other employees; potential disruptions to client, vendor, and business partner relationships; the risk that integration activities may be more time-consuming, complex, or costly than expected; the possibility that anticipated synergies, efficiencies, and other benefits of the Merger may not be realized, or may be realized more slowly than anticipated; and risks associated with managing a larger, more complex combined organization and effectively integrating systems, processes, operations, and cultures; •adverse economic conditions, including geopolitical events, international hostilities, acts of terrorism, public health crises, inflation or stagflation, tariffs and other trade barriers, central bank interest rate policies in countries that comprise our major markets, labor and supply chain issues affecting the distribution of our clients’ products, or a disruption in the credit markets; •international, national, or local economic conditions that could adversely affect us or our clients; •reductions in client spending, a slowdown in client payments or a deterioration or disruption in the credit markets; •the ability to attract new clients and retain existing clients in the manner anticipated; •changes in client marketing and communications services requirements; •failure to manage potential conflicts of interest between or among clients; •unanticipated changes related to competitive factors in the marketing and communications services industries; •unanticipated changes to, or an inability to hire and retain, key personnel; •currency exchange rate fluctuations; •reliance on information technology systems and risks related to cybersecurity incidents; •effective management of the risks, challenges, and efficiencies presented by utilizing artificial intelligence, or AI, technologies and related partnerships in our business, and their use by our competitors; •failure to adapt to technological developments; •our liquidity, long-term financing needs, credit ratings, and access to capital markets; •changes in legislation or governmental regulations affecting us or our clients; •losses on media purchases and production costs incurred on behalf of clients; •risks associated with assumptions we make in connection with our acquisitions, critical accounting estimates, and legal proceedings; •our international operations, which are subject to the risks of currency repatriation restrictions, social or political conditions and an evolving regulatory environment in high-growth markets and developing countries; •risks related to our environmental, social, and governance goals and initiatives, including impacts from regulators and other stakeholders, and the impact of factors outside of our control on such goals and initiatives; •changes in tax rates, tax laws, regulations or interpretations, or adverse outcomes of tax audits or proceedings; and •other business, financial, operational, and legal risks and uncertainties detailed from time to time in our filings with the SEC. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that may affect the Company’s business, including those described in Item 1A, “Risk Factors” and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2025 10-K, and in Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this report and in other documents filed from time to time with the SEC. Except as required under applicable law, we do not assume any obligation to update these forward-looking statements. 17 EXECUTIVE SUMMARY The unaudited consolidated financial statements and related notes to the unaudited consolidated financial statements, including our critical accounting estimates, and the related Management’s Discussion and Analysis of Financial Condition and Results of Operations included in this report, should be read in conjunction with our 2025 Form 10-K. Merger with IPG On the Closing Date, Omnicom completed the Merger. Omnicom is the acquirer of IPG under U.S. GAAP, and as a result, the consolidated financial statements of Omnicom for periods prior to the Closing Date do not include the results of operations, financial position, or cash flows of IPG. The results of operations of IPG are included in Omnicom’s consolidated financial statements only from the Closing Date forward. Accordingly, Omnicom’s results of operations, financial condition and cash flows after the Closing Date are not comparable to prior periods due to the inclusion of IPG’s results from the Closing Date (see Note 5 to the consolidated financial statements). Risks and Uncertainties Global economic disruptions, including geopolitical events, international hostilities, acts of terrorism, public health crises, inflation or stagflation, tariffs and other trade barriers, central bank interest rate policies in our major markets, and labor or supply chain challenges, could contribute to economic uncertainty and volatility. The impact of these conditions on our business may vary by geographic market and service discipline. We monitor macroeconomic conditions, client revenue levels, and other relevant factors and may take actions to align our cost structure with changes in client demand and to manage working capital. However, there can be no assurance that such actions will be sufficient to mitigate the effects of adverse economic conditions, reductions in client spending, changes in client creditworthiness, or other developments. Our Business Omnicom is a strategic holding company that operates through global networks, connected capabilities and specialized agencies, which connect its comprehensive portfolio of companies to deliver marketing, sales, communications, and commerce services to many of the largest global companies. Our products and service offerings support client objectives across our primary focus areas: media, data, commerce, CRM, content, creativity and AI. Omnicom’s agencies integrate data, creativity, and technology to deliver coordinated marketing, communications, and commerce solutions. All of our agencies are supported by our integrated technology platform: Omni, which includes Acxiom and Interact, which were acquired from IPG and Flywheel Commerce Cloud, respectively, as well as privacy-focused identity and data management capabilities. These capabilities include the integration of emerging AI-based tools, such as generative AI, into planning, creative advertising, media, and analytics workflows. Omnicom client teams collaborate and accelerate client-service innovation through two integral enterprise-wide solutions: the Global Growth Team ("GGT") and our Client Success Leaders ("CSLs"). GGT ensures an integrated, enterprise-level view of client needs and innovative solutions across new business development. CSLs manage our agency’s capabilities, providing holistic, tailored solutions across our service lines for individual client strategies and key performance indicators ("KPIs") to enable client success. Our global networks include: Omnicom Advertising ("OA"), Omnicom Media ("OM"), the DAS Group of Companies ("DAS"), and the Communications Consultancy Network ("CCN"). OA includes our creative brands, BBDO, TBWA, and McCann, which we acquired from IPG, and the brands included within the Advertising Collective. OM includes OMD, PHD, Hearts & Sciences, as well as UM, Acxiom, Initiative and Mediahub, which we acquired from IPG. DAS includes Omnicom Precision Marketing and MRM, which we acquired from IPG and Omnicom Health, which includes IPG Health. CCN includes FleishmanHillard and Ketchum, as well as Golin and Weber Shandwick, which we acquired from IPG. On a global, pan-regional, and local basis, our agencies provide a comprehensive range of services across our fundamental disciplines. Beginning in 2026, we realigned our disciplines as follows and as described below: Integrated Media, Advertising, Health, Public Relations, and Experiential & Other. The classification of certain services and prior period amounts have been reclassified to conform to the current period presentation. Integrated Media includes strategic media planning and buying, performance media and audience-based solutions, as well as digital commerce and data and identity solutions. It also includes proprietary data, analytics, and precision marketing capabilities and automated content delivery solutions. Advertising includes creative, brand development, and integrated advertising services across digital and traditional channels, supporting clients' brand strategy and communications needs. Health includes specialized medical communications, market access strategy and other services to global health and pharmaceutical companies. Public Relations services include corporate communications, crisis management, public affairs, and media relations services. Experiential & Other includes experiential design and execution, live and digital events, and entertainment and sports marketing, as well as consulting, branding, and design services. It also includes field marketing, merchandising, custom communications and training, and other specialized marketing and support services. 18 Our geographic markets include the Americas, which includes North America and Latin America, Europe, the Middle East and Africa ("EMEA"), and Asia-Pacific. Our business model was built and continues to evolve around our clients. While our networks, connected capabilities and agencies operate under different names and frame their ideas in different disciplines, we organize our services around our clients. Our Omni platform integrates data and technology in support of the services provided by all of our disciplines. Our fundamental business principle is that our clients’ specific requirements are the central focus of how we structure our service offerings and allocate our resources. This client-centric business model requires that multiple agencies and disciplines within Omnicom collaborate in formal client networks, such as our CSLs and GGT, as well as informal virtual client networks, resulting in a client matrix organization structure. This collaboration allows us to execute our clients’ marketing requirements in a consistent and comprehensive manner. We use our client-centric approach to grow our business by expanding our service offerings to existing clients, moving into new markets and obtaining new clients. In addition, we pursue selective acquisitions of complementary companies with strong entrepreneurial management teams that could fill gaps in our service delivery to our existing clients. Generative AI and agentic AI have, and we believe will continue to have, a significant impact on how we provide services to our clients and how we enhance the productivity of our people. As the marketing industry adjusts to the evolving AI landscape, we seek to leverage these technologies to better serve our clients and maintain our competitive advantage. In January 2026, we unveiled our next generation of Omni, our proprietary marketing intelligence platform. Omni integrates our connected capabilities, high-quality and comprehensive identity and data infrastructure, and cutting-edge AI into a single operating system that we believe will give our clients a unified foundation to connect strategy, execution, and performance across their entire marketing ecosystem. As we continue to make investments in new technologies, we remain committed to responsible AI practices and collaboration to harness AI's potential, while evaluating related risks, such as ethical considerations, public perception and reputational concerns, intellectual property protection, regulatory compliance, privacy and data security concerns and our ability to effectively adopt this new emerging technology. Our clients operate in virtually every sector of the global economy. For the twelve months ended June 30, 2026, our largest client accounted for 2.0% of our revenue, and our 100 largest clients, which represent many of the world’s major marketers, accounted for approximately 52.5% of our revenue. Our clients operate in virtually every sector of the global economy with no one industry representing more than 19% of our revenue for the six months ended June 30, 2026. Although our revenue is generally balanced between the United States and international markets and we have a large and diverse client base, we are not immune to general economic downturns. Global economic conditions and disruptions have a direct impact on our business and financial performance. Adverse global economic conditions and disruptions pose a risk that our clients may reduce, postpone or cancel spending on marketing and communications services, which would reduce the demand for our services. Revenue is typically lower in the first and third quarters and higher in the second and fourth quarters, reflecting client spending patterns during the year, as well as additional project work that usually occurs in the fourth quarter. Certain global events targeted by major marketers for advertising expenditures, such as the FIFA World Cup and the Olympics, and certain national events, such as the U.S. election process, may affect our revenue year-over-year in certain businesses. Typically, these events do not have a significant impact on our revenue in any period. Given our size and breadth, we monitor several financial indicators. The KPIs that we focus on are revenue growth and variability of operating expenses. We analyze revenue growth by reviewing the components and composition of the growth, including growth by principal regional market, connected capabilities and marketing disciplines, the impact from foreign currency exchange rate changes, and growth from our largest clients. Operating expenses primarily consist of cost of services, selling, general and administrative expenses, or SG&A, and depreciation and amortization, and are analyzed for each network by the Chief Operating Decision Maker, who allocates resources accordingly. Financial Performance Worldwide revenue for the three months ended June 30, 2026 increased $2.5 billion, or 63.4%, to $6.6 billion, compared to $4.0 billion in the prior year period. Our performance benefited from the Merger, as the second quarter of 2026 represents the second full quarter of results including IPG following the Closing Date. The year-over-year increase in worldwide revenue reflected worldwide constant currency growth (defined below) of $2,477.9 million, or 61.7%, and a favorable impact from foreign exchange rates of $69.0 million, which increased revenue by 1.7%. Worldwide revenue for the six months ended June 30, 2026 increased $5.1 billion, or 66.2%, to $12.8 billion, compared to $7.7 billion in the prior year period. Our performance benefited from the Merger. The year-over-year increase in worldwide revenue reflected worldwide constant currency growth (defined below) of $4,856.2 million, or 63.0%, and a favorable impact from foreign exchange rates of $243.2 million, which increased revenue by 3.2%. 19 The components of our revenue did not change substantially because of the Merger. For the three months ended June 30, 2026, revenue increased $2.5 billion across our disciplines as follows year-over-year: Integrated Media, $1.3 billion, Advertising, $367.2 million, Public Relations, $338.9 million, Health, $260.1 million, and Experiential & Other, $320.4 million. For the six months ended June 30, 2026, revenue increased $5.1 billion across our disciplines as follows year-over-year: Integrated Media, $2.4 billion, Advertising, $752.8 million, Public Relations, $676.4 million, Health, $546.8 million, and Experiential & Other, $690.0 million. Worldwide revenue increased across our geographic markets for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, as follows, and was primarily driven by the acquisition of IPG: North America, $1.8 billion, Latin America, $133.9 million, Europe, $421.2 million, Middle East and Africa, $75.6 million, and Asia-Pacific, $135.1 million. Worldwide revenue increased across our geographic markets for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, as follows, and was primarily driven by the acquisition of IPG: North America, $3.6 billion, Latin America, $233.6 million, Europe, $865.2 million, Middle East and Africa, $149.0 million, and Asia-Pacific, $296.9 million. The table below presents worldwide organic growth period to period compared to the combined basis, net of businesses held for sale or disposition (as defined below). The components of period-over-period revenue change: Three Months Ended June 30, Six Months Ended June 30, Core Operations1 Core Operations1 Revenue1 Less: Dispositions & Held for Sale $ % Growth Revenue1 Less: Dispositions & Held for Sale $ % Growth Combined revenue for 20252 $ 6,552.4 $ 960.5 $ 5,591.9 $ 12,565.4 $ 1,708.8 $ 10,856.6 Components of revenue change: Foreign exchange rate impact 69.0 7.3 61.7 1.1 % 243.2 37.2 206.0 1.9 % Net effect of (dispositions) acquisitions (397.9) (400.3) 2.4 — % (548.9) (551.3) 2.4 — % Organic growth 339.0 — 339.0 6.1 % 545.7 — 545.7 5.0 % Revenue for 2026 $ 6,562.5 $ 567.5 $ 5,995.0 7.2 % $ 12,805.4 $ 1,194.7 $ 11,610.7 6.9 % 1) Core Operations, net of dispositions and held for sale, excludes revenue of businesses that have been disposed of or are classified as held for sale. Amounts for periods prior to the Closing Date are calculated on a combined basis for Omnicom and IPG. 2) Represents combined Omnicom and IPG revenue for the three and six months ended June 30, 2025. The $6.6 billion and $12.6 billion are comprised of Omnicom's reported revenue of $4.0 billion and $7.7 billion and IPG's reported revenue of $2.5 billion and $4.9 billion, for the three and six months ended June 30, 2025, respectively, and are provided for comparative purposes. This information has been prepared for informational purposes only and does not represent pro forma financial information prepared in accordance with Article 11 of Regulation S-X. Accordingly, such information does not purport to represent what the Company’s revenue would have been had the acquisition occurred at an earlier date and should not be considered indicative of future performance. Revenue from Core Operations for the three and six months ended June 30, 2026 increased $403.1 million, or 7.2%, and $754.1 million, or 6.9%, respectively, as compared to the combined Core Operations revenue for the prior year periods. This was driven by organic growth of 6.1% and 5.0%, respectively, and a positive impact from foreign exchange rate changes of $61.7 million, or 1.1%, and $206.0 million, or 1.9%, in the three and six months ended June 30, 2026, respectively. The components and percentages are calculated as follows: •Foreign exchange rate impact is calculated by translating the current period’s local currency revenue using the prior period average exchange rates to derive current period constant currency revenue. The foreign exchange rate impact is the difference between the current period revenue in U.S. Dollars and the current period constant currency revenue. •Organic growth is calculated by subtracting the foreign exchange rate impact from total revenue growth, which is equal to the current period revenue from Core Operations minus the prior period revenue from Core Operations. •Percentage growth is calculated by dividing the individual amount by the prior period Core Operations revenue base. When we use the term Constant currency growth it refers to the change in revenue in the period, excluding the effects of foreign currency exchange rate fluctuations. This measure is calculated by adjusting current period revenue to eliminate the impact of changes in foreign exchange rates and comparing the resulting amount to prior year revenue. Changes in the value of foreign currencies against the U.S. Dollar affect our results of operations and financial position. For the most part, because the revenue and expense of our foreign operations are both denominated in the same local currency, the 20 economic impact on operating margin is minimized. Assuming exchange rates at July 22, 2026 remain unchanged, we expect the changes in foreign exchange rates will remain flat for the third quarter and positively impact our revenue by 1.0% for the full year. In the normal course of business, our agencies both gain and lose business from clients each year due to a variety of factors. Under our client-centric approach, we seek to broaden our relationships with all of our clients. Our largest client represented 2.0% and 2.6% of revenue for the twelve months ended June 30, 2026 and 2025, respectively. Our ten largest and 100 largest clients represented 15.3% and 52.5% of revenue for the twelve months ended June 30, 2026, respectively, and 19.0% and 54.1% of revenue for the twelve months ended June 30, 2025, respectively. A summary of our consolidated results of operations period-over-period: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 $ Change % Change 2026 2025 $ Change % Change Revenue4 $ 6,562.5 $ 4,015.6 $ 2,546.9 63.4 % $ 12,805.4 $ 7,706.0 $ 5,099.4 66.2 % Operating Income2 $ 922.5 $ 439.2 $ 483.3 110.0 % $ 1,568.7 $ 891.8 $ 676.9 75.9 % Operating Margin2 14.1% 10.9% 3.2 % 12.3 % 11.6 % 0.7 % Net Income - Omnicom Group Inc.2 $ 584.8 $ 257.6 $ 327.2 127.0 % $ 990.0 $ 545.3 $ 444.7 81.6 % Net Income per Share - Omnicom Group Inc.: Diluted2,3 $ 2.08 $ 1.31 $ 0.77 58.8 % $ 3.41 $ 2.77 $ 0.64 23.1 % EBITA1,2,3,4 $ 1,040.2 $ 459.0 $ 581.2 126.6 % $ 1,803.8 $ 933.4 $ 870.4 93.3 % EBITA Margin %1,2,3,4 15.9% 11.4% 4.5 % 14.1 % 12.1 % 2.0 % 1) Reconciliation of Non-GAAP Financial Measures on page 30. 2) For the three and six months ended June 30, 2026, operating expenses included $47.0 million ($35.3 million after-tax) and $51.1 million ($38.3 million after-tax), respectively, of repositioning costs, primarily related to severance actions in connection with the Merger, and $34.3 million ($27.8 million after-tax) for the six months ended June 30, 2026 of losses on dispositions of certain businesses in connection with the Merger (see Notes 10 and 11 to the unaudited consolidated financial statements). In addition, included in selling, general and administrative expenses for the three and six months ended June 30, 2026, are integration and acquisition related costs of $40.1 million ($38.0 million after-tax) and $99.5 million ($84.8 million after-tax), respectively, related to the Merger. The net impact of these items reduced operating income for the three and six months ended June 30, 2026, by $87.1 million ($73.3 million after-tax) and $184.9 million ($150.9 million after-tax), respectively, which reduced diluted net income per share - Omnicom Group Inc. by $0.26 and $0.52, respectively. For both the three and six months ended June 30, 2025, operating expenses included $88.8 million ($67.2 million after-tax) of repositioning costs recorded in the second quarter of 2025, primarily related to severance actions related to efficiency initiatives (see Note 10 to the unaudited consolidated financial statements). In addition, included in selling, general and administrative expenses for the three and six months ended June 30, 2025, are acquisition related costs of $66.0 million ($61.6 million after-tax) and $99.8 million ($94.3 million after-tax), respectively, related to the Merger (see Note 1 to the unaudited consolidated financial statements). The net impact of these items reduced operating income for the three and six months ended June 30, 2025 by $154.8 million ($128.8 million after-tax) and $188.6 million ($161.5 million after-tax), respectively, which reduced diluted net income per share - Omnicom Group Inc. by $0.66 and $0.82, respectively. 3) EBITA is defined as earnings before interest, taxes, and amortization, principally of acquired intangible assets and internally developed strategic platform assets. We believe EBITA is useful in evaluating the impact of amortization of acquired intangible assets and internally developed strategic platform assets on operating performance and allows for comparability between reporting periods. The effect of after-tax amortization of acquired intangible assets and internally developed strategic platform assets decreased diluted net income per share by $0.31 and $0.08 for the three months ended June 30, 2026 and 2025, respectively, and $0.60 and $0.15 for the six months ended June 30, 2026 and 2025, respectively. 4) The effect of dispositions and assets held for sale for the three and six months ended June 30, 2026 reduced revenue by $567.5 million and $1.2 billion, respectively, and EBITA by $58.5 million and $86.4 million, respectively, resulting in a decrease in EBITA Margin of 0.6% and 0.9%, respectively. 21 CONSOLIDATED RESULTS OF OPERATIONS The period-over-period change in results of operations: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 $ Change 2026 2025 $ Change Revenue $ 6,562.5 $ 4,015.6 $ 2,546.9 $ 12,805.4 $ 7,706.0 $ 5,099.4 Operating Expenses: Salary and service costs 4,713.3 2,932.6 1,780.7 9,352.9 5,678.9 3,674.0 Occupancy and other costs 504.4 325.9 178.5 1,031.7 640.5 391.2 Severance and repositioning costs2 47.0 88.8 (41.8) 51.1 88.8 (37.7) Loss on assets held for sale and dispositions2 — — — 34.3 — 34.3 Cost of services 5,264.7 3,347.3 1,917.4 10,470.0 6,408.2 4,061.8 Selling, general and administrative expenses2 209.0 170.4 38.6 433.5 288.3 145.2 Depreciation and amortization 166.3 58.7 107.6 333.2 117.7 215.5 Total Operating Expenses2 5,640.0 3,576.4 2,063.6 11,236.7 6,814.2 4,422.5 Operating Income2 922.5 439.2 483.3 1,568.7 891.8 676.9 Interest Expense 123.2 62.6 60.6 242.2 121.7 120.5 Interest Income 29.9 21.9 8.0 76.9 51.6 25.3 Income Before Income Taxes and Income (Loss) From Equity Method Investments 829.2 398.5 430.7 1,403.4 821.7 581.7 Income Tax Expense 224.8 120.5 104.3 379.4 241.2 138.2 Income (Loss) From Equity Method Investments 1.1 (0.2) 1.3 0.2 0.7 (0.5) Net Income2 605.5 277.8 327.7 1,024.2 581.2 443.0 Net Income Attributed To Noncontrolling Interests 20.7 20.2 0.5 34.2 35.9 (1.7) Net Income - Omnicom Group Inc.2 $ 584.8 $ 257.6 $ 327.2 $ 990.0 $ 545.3 $ 444.7 Net Income Per Share - Omnicom Group Inc.:2,3 Basic $ 2.09 $ 1.32 $ 0.77 $ 3.43 $ 2.78 $ 0.65 Diluted $ 2.08 $ 1.31 $ 0.77 $ 3.41 $ 2.77 $ 0.64 Revenue4 $ 6,562.5 $ 4,015.6 $ 2,546.9 $ 12,805.4 $ 7,706.0 $ 5,099.4 Operating Margin %2 14.1 % 10.9 % 12.3 % 11.6 % EBITA1,2,3,4 $ 1,040.2 $ 459.0 $ 581.2 $ 1,803.8 $ 933.4 $ 870.4 EBITA Margin %1,2,3,4 15.9 % 11.4 % 4.5 % 14.1 % 12.1 % 2.0 % 1) Reconciliation of Non-GAAP Financial Measures on page 30. 2) For the three and six months ended June 30, 2026, operating expenses included $47.0 million ($35.3 million after-tax) and $51.1 million ($38.3 million after-tax), respectively, of repositioning costs, primarily related to severance actions in connection with the Merger and $34.3 million ($27.8 million after-tax) for the six months ended June 30, 2026 of losses on dispositions of certain businesses in connection with the Merger (see Notes 10 and 11 to the unaudited consolidated financial statements). In addition, included in selling, general and administrative expenses for the three and six months ended June 30, 2026, are integration and acquisition related costs of $40.1 million ($38.0 million after-tax) and $99.5 million ($84.8 million after-tax), respectively, related to the Merger. The net impact of these items reduced operating income for the three and six months ended June 30, 2026, by $87.1 million ($73.3 million after-tax) and $184.9 million ($150.9 million after-tax), respectively, which reduced diluted net income per share - Omnicom Group Inc. by $0.26 and $0.52, respectively. For the both three and six months ended June 30, 2025, operating expenses included $88.8 million ($67.2 million after-tax) of repositioning costs recorded in the second quarter of 2025, primarily related to severance actions related to efficiency initiatives (see Note 10 to the unaudited consolidated financial statements). In addition, included in selling, general and administrative expenses for the three and six months ended June 30, 2025, are acquisition related costs of $66.0 million ($61.6 million after-tax) and $99.8 million ($94.3 million after-tax), respectively, related to the Merger (see Note 1 to the unaudited consolidated financial statements). The net impact of these items reduced operating income for the three and six months ended June 30, 2025 by $154.8 million ($128.8 million after-tax) and $188.6 million ($161.5 million after-tax), respectively, which reduced diluted net income per share - Omnicom Group Inc. by $0.66 and $0.82, respectively. 3) EBITA is defined as earnings before interest, taxes, and amortization, principally of acquired intangible assets and internally developed strategic platform assets. We believe EBITA is useful in evaluating the impact of amortization of acquired intangible assets and internally 22 developed strategic platform assets on operating performance and allows for comparability between reporting periods. The effect of after-tax amortization of acquired intangible assets and internally developed strategic platform assets decreased diluted net income per share by $0.31 and $0.08 for the three months ended June 30, 2026 and 2025, respectively, and $0.60 and $0.15 for the six months ended June 30, 2026 and 2025, respectively. 4) The effect of dispositions and assets held for sale for the three and six months ended June 30, 2026 reduced revenue by $567.5 million and $1.2 billion, respectively, and reduced EBITA by $58.5 million and $86.4 million, respectively, resulting in a decrease in EBITA Margin of 0.6% and 0.9%, respectively. Revenue by Discipline To monitor the changing needs of our clients and to further expand the scope of our services to key clients, we monitor revenue across a broad range of disciplines and group them into the following categories. Our networks, connected capabilities, and agencies provide a comprehensive range of services across our principal disciplines: Integrated Media, Advertising, Health, Public Relations, and Experiential & Other. Beginning in the first quarter of 2026, we realigned the classification of certain services and prior period amounts have been reclassified to conform to the current period presentation. The period-over-period change in revenue and constant currency growth by discipline: Three Months Ended June 30, 2026 2025 2026 vs. 2025 $ % of Revenue $ % of Revenue $ Change % Constant Currency Growth Integrated Media 3,259.4 49.7 % 1,999.1 49.8 % 1,260.3 61.2 % Advertising 1,079.1 16.4 % 711.9 17.7 % 367.2 48.3 % Public Relations 708.9 10.8 % 370.0 9.2 % 338.9 90.4 % Health 586.0 8.9 % 325.9 8.1 % 260.1 80.2 % Experiential & Other 929.1 14.2 % 608.7 15.2 % 320.4 51.6 % Revenue1 $ 6,562.5 $ 4,015.6 $ 2,546.9 61.7 % Six Months Ended June 30, 2026 2025 2026 vs. 2025 $ % of Revenue $ % of Revenue $ Change % Constant Currency Growth Integrated Media 6,237.8 48.7 % 3,804.4 49.4 % 2,433.4 60.6 % Advertising 2,139.3 16.7 % 1,386.5 18.0 % 752.8 49.3 % Public Relations 1,405.5 11.0 % 729.1 9.5 % 676.4 90.5 % Health 1,171.7 9.2 % 624.9 8.1 % 546.8 86.9 % Experiential & Other 1,851.1 14.4 % 1,161.1 15.0 % 690.0 57.1 % Revenue1 $ 12,805.4 $ 7,706.0 $ 5,099.4 63.0 % 1) Revenue for the three and six months ended June 30, 2026 includes amounts attributable to disposals or entities classified as held for sale, consisting of $567.5 million and $1.2 billion, respectively. The components of our revenue did not change substantially because of the Merger. For the three months ended June 30, 2026, revenue increased $2.5 billion across our disciplines as follows year-over-year: Integrated Media, $1.3 billion, Advertising, $367.2 million, Public Relations, $338.9 million, Health, $260.1 million, and Experiential & Other, $320.4 million. Constant currency growth was $2.5 billion, or 61.7%, compared to the prior-year period. Changes in foreign currency exchange rates period-over-period increased revenue $69.0 million, or 1.7%. The increase in revenue from foreign exchange translation was primarily related to the strengthening of most currencies, including the Euro, Australian Dollar. Brazilian Real and Mexican Peso, against the U.S. Dollar. For the six months ended June 30, 2026, revenue increased $5.1 billion across our disciplines as follows year-over-year: Integrated Media, $2.4 billion, Advertising, $752.8 million, Public Relations, $676.4 million, Health, $546.8 million, and Experiential & Other, $690.0 million. Constant currency growth was $4.9 billion, or 63.0%, compared to the prior-year period. Changes in foreign currency exchange rates period over period increased revenue $243.2 million, or 3.2%. The increase in revenue from foreign exchange translation was primarily related to the strengthening of most currencies, including the Euro, British Pound, Australian Dollar and Mexican Peso, against the U.S. Dollar. 23 Revenue by Geography The period-over-period change in revenue and constant currency growth in our geographic markets: Three Months Ended June 30, 2026 2025 2026 vs. 2025 $ % of Revenue $ % of Revenue $ Change % Constant Currency Growth Americas: North America $ 3,990.8 60.8 % $ 2,209.7 55.0 % $ 1,781.1 80.6 % Latin America 248.5 3.8 % 114.6 2.9 % 133.9 98.0 % EMEA: Europe 1,587.6 24.2 % 1,166.4 29.0 % 421.2 33.5 % Middle East and Africa 141.7 2.2 % 66.1 1.6 % 75.6 101.3 % Asia-Pacific 593.9 8.9 % 458.8 11.4 % 135.1 27.7 % Revenue1 $ 6,562.5 $ 4,015.6 $ 2,546.9 61.7 % Six Months Ended June 30, 2026 2025 2026 vs. 2025 $ % of Revenue $ % of Revenue $ Change % Constant Currency Growth Americas: North America $ 7,875.9 61.5 % $ 4,321.2 56.1 % $ 3,554.7 82.0 % Latin America 444.6 3.5 % 211.0 2.7 % 233.6 92.2 % EMEA: Europe 3,026.6 23.6 % 2,161.4 28.0 % 865.2 33.0 % Middle East and Africa 285.9 2.2 % 136.9 1.8 % 149.0 97.6 % Asia-Pacific 1,172.4 9.2 % 875.5 11.4 % 296.9 30.8 % Revenue1 $ 12,805.4 $ 7,706.0 $ 5,099.4 63.0 % 1) Revenue for the three and six months ended June 30, 2026 includes amounts attributable to disposals or entities classified as held for sale, consisting of $567.5 million and $1.2 billion, respectively. Worldwide revenue increased across our geographic markets for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, as follows, and was primarily driven by the acquisition of IPG: North America, $1.8 billion, Latin America, $133.9 million, Europe, $421.2 million, Middle East and Africa, $75.6 million, and Asia-Pacific, $135.1 million. Worldwide revenue increased across our geographic markets for the six months ended June 30, 2026, compared to the six months ended June 30, 2025, as follows, and was primarily driven by the acquisition of IPG: North America, $3.6 billion, Latin America, $233.6 million, Europe, $865.2 million, Middle East and Africa, $149.0 million, and Asia-Pacific, $296.9 million. North America In North America, constant currency growth period-over-period for the three and six months ended June 30, 2026 was primarily driven by the merger and a strong performance in the United States. North America's share of our revenue increased because of the Merger. Latin America In Latin America, constant currency growth for the three and six months ended June 30, 2026, compared to the prior year periods, was led by our Integrated Media and Advertising disciplines, including from the impact of the IPG acquisition. Growth was across all countries in the region. Foreign currency exchange rate changes increased revenue in the three and six months ended June 30, 2026 compared to the same periods in 2025, primarily as a result of the strengthening of the Brazilian Real, Mexican Peso and Colombian Peso against the U.S. Dollar period-over-period. EMEA In Europe, compared to the prior year periods, constant currency growth for the three and six months ended June 30, 2026 was primarily due to the acquisition of IPG. Foreign currency exchange rate changes increased revenue for the three and six months ended June 30, 2026, primarily as a result of the strengthening of the Euro and the British Pound against the U.S. Dollar period-over-period. EMEA's share of our revenue decreased because of the Merger. 24 In the U.K., for the three and six months ended June 30, 2026, constant currency growth period-over-period was 40.9% and 39.1%, respectively, primarily due to the Merger. The mix of our business in the U.K. was 9.4% and 9.3%, for the three and six months ended June 30, 2026, respectively, and 10.8% for both the three and six months ended June 30, 2025. In Continental Europe, which includes the Euro Zone and the other European countries, constant currency growth was 14.8% and 14.3% for the three and six months ended June 30, 2026, respectively, primarily due to the merger. Foreign currency exchange rate changes increased revenue 3.6% and 8.3% for the three and six months ended June 30, 2026, respectively, primarily as a result of the strengthening of the Euro against the U.S. Dollar period-over-period. In the Middle East and Africa, constant currency growth was 101.3% and 97.6% for the three and six months ended June 30, 2026, respectively, primarily due to the merger and growth in substantially all countries in the region. Asia-Pacific In Asia-Pacific, constant currency growth increased for the three and six months ended June 30, 2026, primarily due to the merger and a strong performance in all markets in the region. Foreign currency exchange rate changes increased revenue 1.7% and 3.1% for the three and six months ended June 30, 2026, respectively, primarily as a result of the strengthening of most currencies against the U.S. Dollar, including the Australian Dollar and Chinese Renminbi, partially offset by the weakening of the Japanese Yen against the U.S. Dollar. Asia-Pacific's share of our revenue decreased because of the Merger. Revenue by Industry Revenue by type of client industry sector: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Pharmaceuticals and Health 18 % 15 % 19 % 15 % Food and Beverage 13 % 15 % 13 % 15 % Auto 10 % 13 % 10 % 13 % Financial Services 10 % 8 % 10 % 8 % Consumer Products 9 % 9 % 9 % 9 % Retail 8 % 7 % 8 % 7 % Technology 7 % 8 % 7 % 8 % Travel and Entertainment 6 % 8 % 6 % 8 % Services 3 % 3 % 4 % 3 % Government 3 % 4 % 3 % 3 % Telecommunications 3 % 3 % 3 % 3 % Oil, Gas and Utilities 2 % 2 % 2 % 2 % Not-for-Profit 1 % 2 % 1 % 1 % Education 1 % 1 % 1 % 1 % Other 6 % 2 % 4 % 4 % Total 100 % 100 % 100 % 100 % 25 Operating Expenses The period-over-period change in operating expenses: Three Months Ended June 30, 2026 2025 2026 vs. 2025 $ % of Revenue $ % of Revenue $ Change % Change Revenue $ 6,562.5 $ 4,015.6 $ 2,546.9 63.4 % Operating Expenses: Salary and service costs: Salary and related costs 2,966.6 45.2 % 1,827.8 45.5 % 1,138.8 62.3 % Third-party service costs 1,522.4 23.2 % 918.4 22.9 % 604.0 65.8 % Third-party incidental costs 224.3 3.4 % 186.4 4.6 % 37.9 20.3 % Total salary and service costs 4,713.3 71.8 % 2,932.6 73.0 % 1,780.7 60.7 % Occupancy and other costs 504.4 7.7 % 325.9 8.1 % 178.5 54.8 % Loss on assets held for sale and dispositions — — % — — % — — % Severance and repositioning costs 47.0 0.7 % 88.8 2.2 % (41.8) (47.1) % Cost of services 5,264.7 3,347.3 1,917.4 57.3 % Selling, general and administrative expenses 209.0 3.2 % 170.4 4.2 % 38.6 22.7 % Depreciation and amortization 166.3 2.6 % 58.7 1.5 % 107.6 183.3 % Total Operating Expenses 5,640.0 85.9 % 3,576.4 89.1 % 2,063.6 57.7 % Operating Income $ 922.5 14.1 % $ 439.2 10.9 % $ 483.3 110.0 % Six Months Ended June 30, 2026 2025 2026 vs. 2025 $ % of Revenue $ % of Revenue $ Change % Change Revenue $ 12,805.4 $ 7,706.0 $ 5,099.4 66.2 % Operating Expenses: Salary and service costs: Salary and related costs 6,028.2 47.1 % 3,608.3 46.8 % 2,419.9 67.1 % Third-party service costs 2,888.1 22.6 % 1,715.2 22.3 % 1,172.9 68.4 % Third-party incidental costs 436.6 3.4 % 355.4 4.6 % 81.2 22.8 % Total salary and service costs 9,352.9 73.0 % 5,678.9 73.7 % 3,674.0 64.7 % Occupancy and other costs 1,031.7 8.1 % 640.5 8.3 % 391.2 61.1 % Loss on assets held for sale and dispositions 34.3 0.3 % — — % 34.3 Severance and repositioning costs 51.1 0.4 % 88.8 1.2 % (37.7) (42.5) % Cost of services 10,470.0 6,408.2 4,061.8 63.4 % Selling, general and administrative expenses 433.5 3.4 % 288.3 3.7 % 145.2 50.4 % Depreciation and amortization 333.2 2.6 % 117.7 1.5 % 215.5 183.1 % Total operating expenses 11,236.7 87.7 % 6,814.2 88.4 % 4,422.5 64.9 % Operating Income $ 1,568.7 12.3 % $ 891.8 11.6 % $ 676.9 75.9 % We measure cost of services in two distinct categories: salary and service costs and occupancy and other costs. As a service business, salary and service costs make up a significant portion of our operating expenses and substantially all these costs comprise the essential components directly linked to the delivery of our services. Salary and service costs include employee compensation and benefits, freelance labor, third-party service costs, and third-party incidental costs. Third-party service costs include vendor costs when we act as principal in providing services to our clients. Third-party incidental costs that are required to be included in revenue primarily consist of client-related travel and incidental out-of-pocket costs that are billed back to the client directly at our cost. Occupancy and other costs consist of the indirect costs related to the delivery of our services, including office rent and other occupancy costs, equipment rent, technology costs, general office expenses and other expenses. Adverse and beneficial fluctuations in foreign currency exchange rates from period to period impact our results of operations and financial condition when we translate our financial statements from local foreign currency exchange rates to the U.S. Dollar. However, substantially all of our foreign operations transact business in their local currency, mitigating the impact of changes in foreign currency exchange rates on our operating margin percentage. As a result, the changes in our operating expenses period-over-period from foreign currency 26 translation were in line with the percentage impact from changes in foreign currencies on revenue for the three and six months ended June 30, 2026. Operating expenses for the three months ended June 30, 2026 increased $2.1 billion, or 57.7%, to $5.6 billion compared to the prior year period, primarily due to the acquisition of IPG. Included in operating expenses for the three months ended June 30, 2026 are $47.0 million ($35.3 million after-tax) of repositioning costs, primarily for severance and other repositioning costs. In addition, we incurred integration costs related to the acquisition of IPG of $40.1 million ($38.0 million after-tax), which are included in selling, general and administrative expenses (see Note 5 to the consolidated financial statements). Included in selling, general and administrative expenses for the three months ended June 30, 2025 are acquisition related costs of $66.0 million ($61.6 million after-tax) related to the Merger (see Note 1 to the consolidated financial statements). Included in operating expenses for the three months ended June 30, 2025 are $88.8 million ($67.2 million after-tax) of repositioning costs, primarily related to severance actions related to efficiency initiatives, primarily within the Omnicom Advertising Group and the Omnicom Production Group (see Note 10 to the consolidated financial statements). Operating expenses for the six months ended June 30, 2026 increased $4.4 billion, or 64.9%, to $11.2 billion from $6.8 billion, compared to the prior year period, primarily due to the acquisition of IPG. Included in operating expenses for the six months ended June 30, 2026 are $51.1 million ($38.3 million after-tax) of repositioning costs, primarily related to severance and other repositioning costs, as well as $34.3 million ($27.8 million after-tax) of charges to reflect the businesses to be disposed at their estimated net realizable value. In addition, we incurred integration costs related to the acquisition of IPG of $99.5 million ($84.8 million after-tax) which are included in selling, general and administrative expenses (See Note 5 to the consolidated financial statements). Included in selling, general and administrative expenses for the six months ended June 30, 2025 are acquisition related costs of $99.8 million ($94.3 million after-tax) related to the Merger (see Note 1 to the consolidated financial statements). Included in operating expenses for the six months ended June 30, 2025 are $88.8 million ($67.2 million after-tax) of repositioning costs recorded in the second quarter of 2025, primarily related to severance actions related to efficiency initiatives, primarily within the Omnicom Advertising Group and the Omnicom Production Group (see Note 10 to the consolidated financial statements). Operating Expenses - Salary and Service Costs Salary and service costs, which tend to fluctuate with changes in revenue, are comprised of salary and related costs, third-party service costs, and third-party incidental costs. Salary and service costs for the three months ended June 30, 2026 increased $1.8 billion, or 60.7%, to $4.7 billion, compared to the prior-year period. Salary and related costs for the three months ended June 30, 2026 increased $1.1 billion, or 62.3%, to $3.0 billion, primarily due to our acquisition of IPG. As a percentage of revenue, salary and related costs were relatively flat compared to the prior year period. We expect these costs to be in-line as a percentage of revenue year-over-year as we realize operational efficiencies and advance the integration of our operations with IPG. Third-party service costs for the three months ended June 30, 2026 increased $604.0 million, or 65.8%, to $1.5 billion, primarily as a result of the IPG acquisition, as well as constant currency growth in our Integrated Media discipline. Third-party incidental costs for the three months ended June 30, 2026 increased $37.9 million, or 20.3%, to $224.3 million, primarily due to revenue growth and our acquisition of IPG. Salary and service costs for the six months ended June 30, 2026 increased $3.7 billion, or 64.7%, to $9.4 billion, compared to the prior-year period. Salary and related costs for the six months ended June 30, 2026 increased $2.4 billion, or 67.1%, to $6.0 billion, primarily due to our acquisition of IPG. As a percentage of revenue, salary and related costs were relatively flat compared to the prior year period. We expect these costs to be in-line as a percentage of revenue year-over-year as we realize operational efficiencies and advance the integration of our operations with IPG. Third-party service costs for the six months ended June 30, 2026 increased $1.2 billion, or 68.4%, to $2.9 billion, primarily as a result of the IPG acquisition, as well as constant currency growth in our Integrated Media discipline. Third-party incidental costs for the six months ended June 30, 2026 increased $81.2 million, or 22.8%, to $436.6 million, primarily due to revenue growth and our acquisition of IPG. Operating Expenses - Occupancy and Other Costs Occupancy and other costs for the three and six months ended June 30, 2026, which are less directly linked to changes in revenue than salary and service costs, increased by $178.5 million, or 54.8%, to $504.4 million and increased by $391.2 million, or 61.1%, to $1.0 billion, respectively, primarily due to the additional real estate footprint from the IPG acquisition. As a percentage of revenue, occupancy and other costs were relatively flat compared to the prior year period. Operating Expenses - Selling, General & Administrative ("SG&A") Expenses SG&A expenses primarily consist of third-party marketing costs, professional fees, compensation and benefits and occupancy and other costs of our corporate and executive offices, including group-wide finance and accounting, treasury, legal and governance, human resource oversight and similar costs. SG&A expenses increased by $38.6 million and $145.2 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in 2025, primarily due to the acquisition of IPG. SG&A expenses included integration and acquisition-related costs of $40.1 million ($38.0 million after-tax) and acquisition-related costs of $66.0 million ($61.6 million after-tax) for the three months ended June 30, 2026 and June 30, 2025, respectively. SG&A expenses included integration and 27 acquisition-related costs of $99.5 million ($84.8 million after-tax) and acquisition-related costs of $99.8 million ($94.3 million after-tax) for the six months ended June 30, 2026 and June 30, 2025, respectively (see Note 1 of the unaudited consolidated financial statements). Operating Income Operating income for the three months ended June 30, 2026 increased $483.3 million to $922.5 million, and operating margin increased to 14.1% from 10.9% compared to the same period in 2025 due to factors discussed above. Amortization expense for the three months ended June 30, 2026 increased by $97.9 million to $117.7 million, primarily related to the Merger, which decreased operating income and margin. EBITA for the three months ended June 30, 2026 increased $581.2 million to $1,040.2 million, and EBITA margin increased to 15.9% from 11.4%. Integration and acquisition related costs related to the Merger and severance and other repositioning costs recorded in the second quarter of 2026 (see Notes 1 and 10 to the consolidated financial statements) reduced both operating income and EBITA by $87.1 million, and reduced both operating margin and EBITA margin by 1.3%. Acquisition related costs and repositioning costs recorded in the second quarter of 2025 reduced both operating income and EBITA by $154.8 million, and reduced both operating margin and EBITA margin by 3.9%. The effect on EBITA margin for assets held for sale or disposition for the three months ended June 30, 2026 and 2025 was 0.6% and 0.5%, respectively. Operating income for the six months ended June 30, 2026 increased $676.9 million to $1.6 billion, and operating margin increased to 12.3% from 11.6% compared to the same period in 2025 due to factors discussed above. Amortization expense for the six months ended June 30, 2026 increased by $193.5 million to $235.1 million, primarily related to the Merger, which decreased operating income and operating income margin. EBITA for the six months ended June 30, 2026 increased $870.4 million to $1.8 billion, and EBITA margin increased to 14.1% from 12.1%. Integration and acquisition related costs related to the Merger, severance and other repositioning costs recorded and charges to reflect the businesses to be disposed at their estimated net realizable value (see Notes 1 and 10 to the consolidated financial statements) reduced both operating income and EBITA by $184.9 million, and reduced both operating margin and EBITA margin by 1.4%. Acquisition related costs in the first half of 2025 and repositioning costs recorded in the second quarter of 2025 (see Notes 1 and 10 to the consolidated financial statements) reduced both operating income and EBITA by $188.6 million, and reduced operating margin by 2.4% and EBITA margin by 2.5% for the six -month period. The effect on EBITA margin for assets held for sale or disposition for the six months ended June 30, 2026 and 2025 was 0.9% and 0.7%, respectively. Net Interest Expense Net interest expense for the three months ended June 30, 2026 increased $52.6 million period-over-period to $93.3 million. Interest expense on debt for the three months ended June 30, 2026 increased $61.3 million period-over-period to $120.1 million, due to higher average long-term debt balances resulting primarily from the assumption of IPG’s long-term debt following the Merger, as well as refinancing activities completed during the first quarter of 2026, which resulted in approximately $1 billion of incremental long-term debt. Interest income in the three months ended June 30, 2026 increased $8.0 million to $29.9 million, primarily due to higher average cash balances. Net interest expense for the six months ended June 30, 2026 increased $95.2 million period-over-period to $165.3 million. Interest expense on debt for the six months ended June 30, 2026 increased $119.0 million period-over-period to $233.9 million, due to higher average long-term debt balances resulting primarily from the assumption of IPG’s long-term debt following the Merger, as well as refinancing activities completed during the first quarter of 2026, which resulted in approximately $1 billion of incremental long-term debt. Interest income in the six months ended June 30, 2026 increased $25.3 million to $76.9 million, primarily due to higher average cash balances. Income Taxes Our effective tax rate for the six months ended June 30, 2026 decreased period-over-period to 27.0% from 29.4%, primarily due to the non-deductibility of certain integration and acquisition related costs in connection with the Merger that negatively impacted the effective tax rate in 2025. The effective tax rates for 2026 and 2025 reflect the impact of the lower tax benefit associated with severance and repositioning charges and IPG acquisition related costs. On July 4, 2025, the One Big Beautiful Bill Act was signed into law in the United States, which contains a broad range of tax reform provisions affecting businesses. The legislation does not have a material impact on our financial statements. 28 Net Income and Net Income Per Share - Omnicom Group Inc. Net income - Omnicom Group Inc. in the three months ended June 30, 2026 increased $327.2 million to $584.8 million from $257.6 million. The period-over-period increase is due to the Merger and the factors described above. Diluted net income per share - Omnicom Group Inc. increased to $2.08 in the three months ended June 30, 2026, from $1.31 in the three months ended June 30, 2025, based on the factors described above. This was impacted by the increase in our weighted average shares of common stock outstanding due to the issuance of shares for the IPG acquisition, partially offset by net share repurchases, including shares purchased pursuant to the accelerated stock repurchase agreement. For the three months ended June 30, 2026, the impact of integration and acquisition related costs and severance and other repositioning costs (see Notes 1 and 10 to the unaudited consolidated financial statements) reduced net income - Omnicom Group Inc. by $73.3 million and diluted net income per share - Omnicom Group Inc. by $0.26. For the three months ended June 30, 2025, acquisition related costs and repositioning costs reduced net income - Omnicom Group Inc. by $128.8 million and diluted net income per share - Omnicom Group Inc. by $0.66. Net income - Omnicom Group Inc. in the six months ended June 30, 2026 increased $444.7 million to $990.0 million from $545.3 million. The period-over-period increase is due to the factors described above. Diluted net income per share - Omnicom Group Inc. increased to $3.41 in the six months ended June 30, 2026, from $2.77 in the six months ended June 30, 2025, based on the factors described above. This was impacted by the increase in our weighted average shares of common stock outstanding due to the issuance of shares for the IPG acquisition, partially offset by net share repurchases, including shares purchased pursuant to the accelerated stock repurchase agreement. For the six months ended June 30, 2026, the impact of integration and acquisition related costs, severance and other repositioning costs and charges to reflect the businesses to be disposed at their estimated net realizable value (see Notes 1 and 10 to the unaudited consolidated financial statements) reduced net income - Omnicom Group Inc. by $150.9 million and diluted net income per share - Omnicom Group Inc. by $0.52. For the six months ended June 30, 2025, the net impact of acquisition related costs and repositioning costs reduced net income - Omnicom Group Inc. by $161.5 million and diluted net income per share - Omnicom Group Inc. by $0.82. The effect of after-tax amortization, principally from acquired intangible assets and internally developed strategic platform assets, decreased diluted net income per share by $0.31 and $0.08 for the three months ended June 30, 2026 and 2025, respectively, and $0.60 and $0.15 for the six months ended June 30, 2026 and 2025, respectively. NON-GAAP FINANCIAL MEASURES We use certain non-GAAP financial measures in describing our performance. We use EBITA and EBITA Margin as additional operating performance measures, which excludes from operating income the non-cash amortization expense of acquired intangible assets and internally developed strategic platform assets. We believe EBITA and EBITA Margin are useful measures for investors to evaluate the performance of our business and allows for comparability between the periods presented. We also use constant currency growth as an additional operating performance measure. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with U.S. GAAP. Non-GAAP financial measures reported by us may not be comparable to similarly titled amounts reported by other companies. 29 Reconciliation of Non-GAAP Financial Measures The following table reconciles the U.S. GAAP financial measure of Net Income - Omnicom Group Inc. to EBITA and EBITA Margin: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net Income - Omnicom Group Inc. $ 584.8 $ 257.6 $ 990.0 $ 545.3 Net Income Attributed To Noncontrolling Interests 20.7 20.2 34.2 35.9 Net Income 605.5 277.8 1,024.2 581.2 Income (Loss) From Equity Method Investments 1.1 (0.2) 0.2 0.7 Income Tax Expense 224.8 120.5 379.4 241.2 Income Before Income Taxes and Income (Loss) From Equity Method Investments 829.2 398.5 1,403.4 821.7 Interest Expense 123.2 62.6 242.2 121.7 Interest Income 29.9 21.9 76.9 51.6 Operating Income 922.5 439.2 1,568.7 891.8 Add back: Amortization principally from acquired intangible assets and internally developed strategic platform assets 117.7 19.8 235.1 41.6 EBITA $ 1,040.2 $ 459.0 $ 1,803.8 $ 933.4 Revenue $ 6,562.5 $ 4,015.6 $ 12,805.4 $ 7,706.0 EBITA $ 1,040.2 $ 459.0 $ 1,803.8 $ 933.4 EBITA Margin 15.9 % 11.4 % 14.1 % 12.1 % LIQUIDITY AND CAPITAL RESOURCES Cash Sources and Requirements The primary sources of our short-term liquidity are net cash provided by operating activities and cash and cash equivalents. Additional liquidity sources include our $3.5 billion unsecured multi-currency revolving Credit Facility, terminating on November 26, 2030, the ability to issue up to $3 billion of U.S. Dollar denominated commercial paper and issue up to the equivalent of $500 million in British Pounds or Euro under a Euro commercial paper program, and access to the capital markets. In addition, certain of our subsidiaries have uncommitted credit lines that are guaranteed by Omnicom, aggregating $0.9 billion. Our liquidity sources fund our non-discretionary cash requirements and our discretionary spending. Working capital, which we define as current assets minus current liabilities, is our principal non-discretionary funding requirement. Our working capital cycle typically peaks during the second quarter of the year due to the timing of payments for incentive compensation, income taxes and contingent purchase price obligations. In addition, we have contractual obligations related to our long-term debt (principal and interest payments), recurring business operations, primarily related to lease obligations, and acquisition-related obligations. Our principal discretionary cash spending includes dividend payments to common shareholders, capital expenditures, strategic acquisitions and repurchases of our common stock. Cash and cash equivalents decreased $3.5 billion from December 31, 2025. During the first six months of 2026, we used $932.4 million of cash in operating activities, which included the use for operating capital of $2.4 billion, primarily related to our typical working capital cycle. Discretionary spending for the first six months of 2026 was $3.6 billion, compared to $641.6 million for the first six months of 2025. Discretionary spending for the first six months of 2026 was comprised of capital expenditures of $115.1 million, dividends paid to common shareholders of $481.5 million, dividends paid to shareholders of noncontrolling interests of $33.5 million, repurchases of our common stock, including shares purchased pursuant to the accelerated stock repurchase program, of $2,962.3 million, net of proceeds from vesting of restricted stock awards and related tax benefits. The acquisition of additional shares of noncontrolling interests and payment of contingent purchase price obligations was $45.4 million. Based on past performance and current expectations, we believe that net cash provided by operating activities and cash and cash equivalents will be sufficient to meet our non-discretionary cash requirements for the next twelve months. In addition, and over the longer term, our Credit Facility and access to capital markets are available to fund our working capital, contractual obligations and discretionary spending, including share repurchases. Cash Management Our regional treasury centers in North America, Europe and Asia manage our cash and liquidity. Each day, operations with excess funds invest those funds with their regional treasury center. Likewise, operations that require funds borrow from their 30 regional treasury center. Treasury centers with excess cash invest on a short-term basis with third parties, with maturities generally ranging from overnight to 90 days. Certain treasury centers have notional pooling arrangements that are used to manage their cash and set-off foreign exchange imbalances. These arrangements require each treasury center to have its own notional pool account and to maintain a positive notional balance. Additionally, under the terms of the arrangement, set-off of foreign exchange positions are limited to the long and short positions within their own account. We may also use multi-entity notional cash pooling arrangements with banks instead of treasury centers to manage our liquidity requirements. In these pooling arrangements, certain legal entities agree with a single bank that the cash balances of any of the entities with the bank will be subject to a full right of set-off against amounts other entities owe the bank, and the bank provides for overdrafts as long as the net balance for all entities does not exceed an agreed-upon level. To the extent that our treasury centers require liquidity, they can issue up to a total of $3.0 billion of U.S. Dollar-denominated commercial paper, issue up to the equivalent of $500 million in British Pounds or Euro under a Euro commercial paper program, or borrow under the Credit Facility, or the uncommitted credit lines. This process enables us to manage our debt more efficiently and utilize our cash more effectively, as well as manage our risk to foreign exchange rate imbalances. In countries where we either do not conduct treasury operations or it is not feasible for one of our treasury centers to fund net borrowing requirements on an intercompany basis, we arrange for local currency uncommitted credit lines. We have a policy governing counterparty credit risk with financial institutions that hold our cash and cash equivalents, and we have deposit limits for each institution. In countries where we conduct treasury operations, generally the counterparties are either branches or subsidiaries of institutions that are party to the Credit Facility. These institutions generally have credit ratings better than or equal to our credit ratings. At June 30, 2026, our foreign subsidiaries held approximately $2.1 billion of our total cash and cash equivalents of $3.3 billion. Substantially all of the cash is available to us, net of any foreign withholding taxes payable upon repatriation to the United States. As of June 30, 2026, our net debt position, which we define as total debt, including short-term debt, less cash and cash equivalents, increased $4.4 billion to $6.7 billion from December 31, 2025. The increase in net debt primarily resulted from the issuance of our $400 million aggregate principal amount of 4.200% Senior Notes due 2029, $700 million aggregate principal amount of 5.000% Senior Notes due 2033 and $600 million aggregate principal amount of 5.300% Senior Notes due 2036, as well as the issuance of our €600 million aggregate principal amount of 3.850% Senior Notes due 2034. We used some of the proceeds to pay down our $1.4 billion 3.600% Senior Notes due 2026. Net debt was also impacted by the use of cash of $932.4 million for operating activities, which included the use for operating capital of $2.4 billion, primarily related to our typical working capital requirements during the period and other non-discretionary and discretionary spending of $3.6 billion, as discussed above. Net debt: June 30, 2026 December 31, 2025 June 30, 2025 Short-term debt $ 48.8 $ 62.0 $ 22.3 Long-term debt, including current portion 9,953.2 9,054.5 6,282.7 Total debt 10,002.0 9,116.5 6,305.0 Less: Cash and cash equivalents 3,336.2 6,881.1 3,300.4 Net debt $ 6,665.8 $ 2,235.4 $ 3,004.6 Net debt is a Non-GAAP liquidity measure. This presentation, together with the comparable U.S. GAAP liquidity measures, reflects one of the key metrics used by us to assess our cash management. Non-GAAP liquidity measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with U.S. GAAP. Non-GAAP liquidity measures as reported by us may not be comparable to similarly titled amounts reported by other companies. Debt Instruments and Related Covenants On March 2, 2026, Omnicom closed its public offering of $400 million aggregate principal amount of 4.200% Senior Notes due 2029, $700 million aggregate principal amount of 5.000% Senior Notes due 2033 and $600 million aggregate principal amount of 5.300% Senior Notes due 2036. In addition, on March 2, 2026, OFH, a U.K.-based wholly owned subsidiary of Omnicom, closed its public offering of €600 million aggregate principal amount of 3.850% Senior Notes due 2034, which notes are fully and unconditionally guaranteed by Omnicom. Omnicom used a portion of the net proceeds to repay its $1.4 billion 3.600% Senior Notes due 2026, which were fully redeemed at par on March 13, 2026. Omnicom intends to use the remaining proceeds for general corporate purposes. Omnicom has fully and unconditionally guaranteed the obligations of OFH with respect to the Euro Notes. OFH’s assets consist of its investments in several wholly owned finance companies that function as treasury centers, providing funding for various operating companies in Europe, Australia, and other countries in the Asia-Pacific region. The finance companies’ assets consist of cash and cash equivalents and intercompany loans that they make or have made to the operating companies in their respective regions and the related interest receivable. There are no restrictions on the ability of Omnicom or OFH to obtain funds from their subsidiaries through dividends, loans, or advances. The Euro Notes and the related guarantees are senior unsecured 31 obligations that rank equal in right of payment with all existing and future unsecured senior indebtedness of OFH and Omnicom, respectively. Omnicom has fully and unconditionally guaranteed the obligations of OCH, a U.K.-based wholly owned subsidiary of Omnicom, with respect to the Sterling Notes. OCH’s assets consist of its investments in several wholly owned finance companies that function as treasury centers, providing funding for various operating companies in EMEA, Australia, and other countries in the Asia-Pacific region. The finance companies’ assets consist of cash and cash equivalents and intercompany loans that they make or have made to the operating companies in their respective regions and the related interest receivable. There are no restrictions on the ability of Omnicom or OCH to obtain funds from their subsidiaries through dividends, loans, or advances. The Sterling Notes and the related guarantee are senior unsecured obligations that rank equal in right of payment with all existing and future unsecured senior indebtedness of OCH and Omnicom, respectively. The Credit Facility has a financial covenant that requires us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) of no more than 3.5 times for the most recently ended 12-month period. At June 30, 2026, we were in compliance with this covenant as our Leverage Ratio, computed in accordance with the terms of the facility, was 2.4 times. The Credit Facility does not limit our ability to declare or pay dividends or repurchase our common stock. At June 30, 2026, our long-term and short-term debt was rated BBB+ and A2 by S&P and Baa1 and P2 by Moody’s. Our access to the commercial paper market and the cost of any issuances are affected by market conditions and our credit ratings. The long-term debt indentures and the Credit Facility do not contain provisions that require acceleration of cash payments in the event of a downgrade in our credit ratings. Credit Markets and Availability of Credit In light of the uncertainty of future economic conditions, we will continue to take actions available to us to respond to changing economic conditions, and we will manage our discretionary expenditures. We will also continue to monitor and manage the level of credit made available to our clients. We believe that these actions, in addition to the availability of our Credit Facility, are sufficient to fund our near-term working capital needs and our discretionary spending. Information regarding our Credit Facility is provided in Note 6 to the unaudited consolidated financial statements. We have the ability to fund our day-to-day liquidity, including working capital, by issuing commercial paper or borrowing under the Credit Facility. During the three months and six months ended June 30, 2026, there were no drawings under the Credit Facility and no commercial paper issuances outstanding at quarter-end; however, commercial paper was issued and repaid during the period as described below. There were no draws under the Credit Facility or commercial paper issuances during the three and six months ended June 30, 2025. Commercial paper activity was (dollars in millions): Three Months Ended June 30, 2026 2025 Average amount outstanding during the quarter $ 34.0 $ — Maximum amount outstanding during the quarter 230.0 $ — Amount outstanding at the end of the quarter $ — $ — Weighted average maturity days 7.3 — Weighted average interest rate 3.95 % — % Six Months Ended June 30, 2026 2025 Average amount outstanding during the period $ 147.3 $ — Maximum amount outstanding during the period 632.6 $ — Amount outstanding at the end of the quarter $ — $ — Weighted average maturity days 21.2 — Weighted average interest rate 3.90 % — % We may issue commercial paper to fund our day-to-day liquidity when needed. However, disruptions in the credit markets may lead to periods of illiquidity in the commercial paper market and higher credit spreads. To mitigate any disruption in the credit markets and to fund our liquidity, we may borrow under the Credit Facility, or the uncommitted credit lines or access the capital markets if favorable conditions exist. We will continue to monitor closely our liquidity and conditions in the credit markets. We 32 cannot predict with any certainty the impact on us of any disruptions in the credit markets. In such circumstances, we may need to obtain additional financing to fund our day-to-day working capital requirements. Such additional financing may not be available on favorable terms, or at all. Credit Risk We provide marketing and communications services to several thousand clients that operate in nearly every sector of the global economy, and we grant credit to qualified clients in the normal course of business. Due to the diversified nature of our client base, we do not believe that we are exposed to a concentration of credit risk, as our largest client represented 2.0% of revenue for the twelve months ended June 30, 2026. However, during periods of economic downturn, the credit profiles of our clients could change. In the normal course of business, our agencies enter into contractual commitments with media providers and production companies on behalf of our clients at levels that can substantially exceed the revenue from our services. These commitments are included in accounts payable when the services are delivered by the media providers or production companies. If permitted by local law and the client agreement, many of our agencies purchase media and production services for our clients as an agent for a disclosed principal. In addition, while operating practices vary by country, media type and media vendor, in the United States and certain foreign markets, many of our agencies’ contracts with media and production providers specify that our agencies are not liable to the media and production providers under the theory of sequential liability until and to the extent we have been paid by our client for the media or production services. Where purchases of media and production services are made by our agencies as a principal or are not subject to the theory of sequential liability, the risk of a material loss as a result of payment default by our clients could increase significantly, and such a loss could have a material adverse effect on our business, results of operations and financial condition. While we use various methods to manage the risk of payment default, including obtaining credit insurance, requiring payment in advance, mitigating the potential loss in the marketplace or negotiating with media providers, these may be insufficient, less available, or unavailable during a severe economic downturn. CRITICAL ACCOUNTING ESTIMATES For a more complete understanding of our accounting estimates and policies, the unaudited consolidated financial statements and the related Management’s Discussion and Analysis of Financial Condition and Results of Operations, readers are encouraged to consider this information together with our discussion of our critical accounting policies under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2025 10-K. Acquisitions and Goodwill In addition to the IPG acquisition, we have made and expect to continue to make selective acquisitions. The evaluation of potential acquisitions is based on various factors, including specialized know-how, reputation, geographic coverage, competitive position and service offerings of the target businesses, as well as our experience and judgment. Our acquisition strategy is focused on acquiring the expertise of an assembled workforce in order to continue to build upon the core capabilities of our various strategic business platforms and agency brands through the expansion of their geographic reach or their service capabilities to better serve our clients. Additional key factors we consider include the competitive position and specialized know-how of the acquisition targets. Accordingly, as is typical in most service businesses, a substantial portion of the assets we acquire are intangible assets, primarily consisting of the know-how of the personnel, which is treated as part of goodwill and is not required to be valued separately under U.S. GAAP. For each acquisition, we undertake a detailed review to identify other intangible assets that are required to be valued separately. A significant portion of the identifiable intangible assets acquired is derived from customer relationships, including the related customer contracts, as well as trade names. In valuing these identified intangible assets, we typically use an income approach and consider comparable market participant measurements. We evaluate goodwill for impairment annually at May 1 each year and whenever events or circumstances indicate the carrying value may not be recoverable. Under the Financial Accounting Standard Board's ("FASB") ASC Topic 350, Intangibles - Goodwill and Other, we have the option of either assessing qualitative factors to determine whether it is more-likely-than-not that the carrying value of our reporting units exceeds their respective fair value (Step 0) or proceeding directly to the quantitative goodwill impairment test. While there were no trigger events that required us to perform a quantitative test, we performed the annual quantitative impairment test and compared the fair value of each of our reporting units to its respective carrying value, including goodwill. Beginning in December of 2025, we integrated the newly acquired IPG businesses into our existing networks. We identified our regional reporting units as components of our operating segments, which are our four global agency networks. The regional reporting units and connected capabilities monitor performance and are responsible for the agencies in their region. They report to the segment managers and facilitate the administrative and logistical requirements of our key client matrix organization structure for delivering services to clients in their regions. We have concluded that for each of our operating segments, their regional reporting units have similar economic characteristics and should be aggregated for purposes of testing goodwill for impairment at the operating segment level. Our conclusion was based on a detailed analysis of the aggregation criteria set forth in FASB ASC Topic 280, Segment Reporting, and in FASB ASC Topic 350. Consistent with our fundamental business strategy, the 33 agencies within our regional reporting units serve similar clients in similar industries, and in many cases the same clients. In addition, the agencies within our regional reporting units have similar economic characteristics, and the employees share similar skill sets. The main economic components of each agency are employee compensation and related costs, and direct service costs and occupancy and other costs, which include rent and occupancy costs, technology costs that are generally limited to personal computers, servers and off-the-shelf software and other overhead expenses. Finally, the expected benefits of our acquisitions are typically shared by multiple agencies in various regions as they work together to integrate the acquired agency into our virtual client network strategy. Goodwill Impairment Review - Estimates and Assumptions We use the following valuation methodologies to determine the fair value of our reporting units: (1) the income approach, which utilizes discounted expected future cash flows, (2) comparative market participant multiples for EBITDA (earnings before interest, taxes, depreciation and amortization) and, (3) when available, consideration of recent and similar acquisition transactions. In applying the income approach, we use estimates to derive the discounted expected cash flows, ("DCF"), for each reporting unit that serves as the basis of our valuation. These estimates and assumptions include revenue growth and operating margin, EBITDA, tax rates, capital expenditures, weighted average cost of capital and related discount rates and expected long-term cash flow growth rates. All of these estimates and assumptions are affected by conditions specific to our businesses, economic conditions related to the industry we operate in, as well as conditions in the global economy. The assumptions that have the most significant effect on our valuations derived using a DCF methodology are: (1) the expected long-term growth rate of our reporting units' cash flows and (2) the weighted average cost of capital ("WACC"), for each reporting unit. The long-term growth rate and WACC assumptions used in our evaluations: May 1, 2026 May 1, 2025 Long-Term Growth Rate 3.5% 3.5% WACC 13.8% - 14.2% 12.5% - 12.8% Long-term growth rate represents our estimate of the long-term growth rate for our industry and the geographic markets we operate in. For the past 10 years, the average historical revenue growth rate of our reporting units and the Average Nominal GDP, or NGDP, growth of the countries comprising the major markets that account for substantially all of our revenue was approximately 3.5% and 5.0%, respectively. We considered this history when determining the long-term growth rates used in our annual impairment test at May 1, 2026. Included in the 10-year history is the full year 2020 that reflected the negative impact of the COVID-19 pandemic on the global economy and our revenue. We believe marketing expenditures over the long term have a high correlation to NGDP, notwithstanding the volatility of inflationary environments. Based on our past performance, we also believe that our growth rate can exceed NGDP growth in the short-term in the markets we operate in, which are similar across our reporting units. Accordingly, for our annual test as of May 1, 2026, we used an estimated long-term growth rate of 3.5%. When performing the annual impairment test as of May 1, 2026 and estimating the future cash flows of our reporting units, we considered the current macroeconomic environment, as well as industry and market specific conditions in 2026. There were no events through June 30, 2026 that would change our impairment assessments. The WACC is comprised of: (1) a risk-free rate of return, (2) a business risk index ascribed to us and to companies in our industry comparable to our reporting units based on a market derived variable that measures the volatility of the share price of equity securities relative to the volatility of the overall equity market, (3) an equity risk premium that is based on the rate of return on equity of publicly traded companies with business characteristics comparable to our reporting units, and (4) a current after-tax market rate of return on debt of companies with business characteristics similar to our reporting units, each weighted by the relative market value percentages of our equity and debt. Our four reporting units vary in size with respect to revenue and the amount of debt allocated to them. These differences drive variations in fair value among our reporting units. In addition, these differences as well as differences in book value, including goodwill, cause variations in the amount by which fair value exceeds book value among the reporting units. The goodwill balances and debt vary by reporting unit primarily because some legacy agency networks were acquired at the formation of Omnicom and were accounted for as a pooling of interests that did not result in any additional debt or goodwill being recorded. The remaining agency networks were built through a combination of internal growth and acquisitions that were accounted for using the acquisition method and as a result, they have a relatively higher amount of goodwill and debt. Finally, the allocation of goodwill when components are transferred between reporting units is based on relative fair value at the time of transfer. Goodwill Impairment Review - Conclusion Based on the results of our impairment test, we concluded that our goodwill as of May 1, 2026 was not impaired, because the fair value of each of our reporting units was in excess of its respective net book value. The minimum decline in fair value that one of our reporting units would need to experience in order to fail the goodwill impairment test was approximately 37%. Notwithstanding our belief that the assumptions we used for WACC and long-term growth rate in our impairment testing were reasonable, we performed a sensitivity analysis for each reporting unit. The results of this sensitivity analysis on our impairment test as of May 1, 2026 revealed that if the WACC increased by 1% and/or the long-term growth rate decreased by 1%, the fair 34 value of each of our reporting units would continue to be in excess of its respective net book value and would pass the impairment test. We will continue to perform our impairment test at May 1 each year, unless events or circumstances trigger the need for an interim impairment test. The estimates used in our goodwill impairment test do not constitute forecasts or projections of future results of operations, but rather are estimates and assumptions based on historical results and assessments of macroeconomic factors affecting our reporting units as of the valuation date. We believe that our estimates and assumptions are reasonable, but they are subject to change from period to period. Actual results of operations and other factors will likely differ from the estimates used in our discounted cash flow valuation, and it is possible that differences could be significant. A change in the estimates we use could result in a decline in the estimated fair value of one or more of our reporting units from the amounts derived as of our latest valuation and could cause us to fail our goodwill impairment test if the estimated fair value for the reporting unit is less than the carrying value of the net assets of the reporting unit, including its goodwill. A large decline in estimated fair value of a reporting unit could result in a non-cash impairment charge and may have an adverse effect on our results of operations and financial condition.