NIQ Global Intelligence J.P. Morgan TMC Conference Takeaways

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NIQ Global Intelligence J.P. Morgan TMC Conference Takeaways

J P M O R G A N North America Equity Research

18 May 2026

NIQ Global Intelligence Overweight

NIQ, NIQ US

J.P. Morgan TMC Conference Takeaways Price (15 May 26):$8.20

Business & Information Services

Alexander E.M. Hess, CFA AC

(1-212) 622-8331

This morning, we hosted NIQ Global Intelligence Chairman & CEO Jim Peck and alexander.hess@jpmorgan.com

CFO Mike Burwell for a fireside chat at the J.P. Morgan Global Technology, Media Andrew C. Steinerman

and Communications Conference in Boston. Overall, we observe that leadership (1-212) 622-2527

andrew.steinerman@jpmorgan.com

remains as confident in NIQ’s prospective fundamental trajectory as ever.

Rohan Kalra

Incrementally, we found management’s excitement about the potential (1-212) 622-0879

revenue opportunities that AI/agentic commerce could unlock to be palpable, rohan.kalra@jpmorgan.com

and the reasoning behind this excitement to be quite credible. J.P. Morgan Securities LLC

• NIQ is “extremely relevant inside our customers’ world”: NIQ leadership

highlighted the centrality of the firm’s data and applied analytics for its core

clients, consumer product manufacturers and retailers. NIQ solutions help

clients “[fight] their battles every day trying to win with the consumer,” by

supporting business users’ vital daily decision-making across pricing,

promotions, assortment, product innovation, and more. In our view, this

embeddedness in core daily workflows supports the resiliency of NIQ’s

organic revenue growth trajectory.

• The semantic layer, as explained with pizza sauce: While NIQ provides

critical data for its end market, leadership highlighted that the firm is “not just

a data feed.” Rather, NIQ represents a vital “semantic layer” for clients, by