We are extending our efforts to modernise and simplify Reed Elsevier to our corporate structure, our share listings,
and corporate entity names. Certain changes have recently been made and others are being proposed to
shareholders at the Annual General Meetings of Reed Elsevier PLC and Reed Elsevier NV to be held in April 2015.
This set of changes will be cost and profit neutral for the company, and none of these changes impact the economic
interests of any shareholder. In particular, dividend and capital distribution rights are unaffected. All parent
company guarantees over debt are also unaffected.