Slide 1: Q3 2023
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Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not
Slide 3: Non-GAAP Measures
Non-GAAP Measures Management believes that the non-GAAP (Generally Accepted Accounting Principles) information excluding the 2023 restructuring charges, the 2022 loss on disposal, and the 2022 goodwill impairment charge are useful to understand the Company's fiscal 2023 financial performance and inc
Slide 4: Kelly
Kelly
Slide 5: Takeaways
Third-Quarter 2023 Takeaways Staffing demand continued to be impacted by economic uncertainty and labor market trends * Q3 revenue declined by 4.3% on a reported basis, down 5.8% in constant currency Near-term steps to capitalize on continued demand for specialty talent while making measurable progr
Slide 6: Business Transformation Overview
« Business Transformation Overview Comprehensive initiative to build on our strategic progress. Efforts are facilitated by our Transformation Management Office and led by our Chief Transformation Officer with the support of an outside consulting firm Three key outcomes are expected: ° Optimize busin
Slide 7: Takeaways
Third-Quarter 2023 Takeaways Staffing demand continued to be impacted by economic uncertainty and labor market trends * Q3 revenue declined by 4.3% on a reported basis, down 5.8% in constant currency Near-term steps to capitalize on continued demand for specialty talent while making measurable progr
Slide 8: Third-Quarter 2023 Financial Summary
« Third-Quarter 2023 Financial Summary Change Increase/(Decrease) Actual Results As Reported As Adjusted” $1.1B (4.3%) (4.3%) Revenue @) @) (5.8%) CC (5.8%) CC Gross Profit Rate 20.4% (20) bps (20) bps $0.1M NM 61.7% Earnings from Operations , , 99.8% CC” 60.1% CC” Adjusted EBITDA $25.5M 33.7% Adjus
Slide 9: Third-Quarter 2023 Revenue
« Third-Quarter 2023 Revenue Reported Constant Currency” Total (4.3%) (5.8%) Professional & Industrial (10.8%) (10.5%) Science, Engineering & Technology (8.0%) (8.0%) Education 22.9% 22.9% Outsourcing & Consulting (3.8%) (4.0%) International 2.4% (6.2%) w= (Constant Currency ("CC") represents year-o
Slide 10: Gross Profit Rate
Third-Quarter 2023 Gross Profit Rate 21.0% 30.6% 20 bps 20.5% — 7 20.478 40) b 20.0% (40) bps 19.5% 19.0% 18.5% 18.0% 17.5% 17.0% Q3 2022 GP Rate Operating Perm Fees Q3 2023 GP Rate Segments * Operating Segments gross profit rate reflects favorable business mix, partially offset by higher employee-r
Slide 11: SG&A
Third-Quarter 2023 SG&A $in millions $250 $240 $231 $230 $15 $3 $210 ($21) $228 $200 $190 $180 Q3 2022 SG&A Operations Transformation FX Q3 2023 SG&A costs” Expenses in Operations decreased as a result of workforce reductions related to our transformation activities, as well as lower performance-bas
Slide 12: Third-Quarter 2023 Financial Summary
« Third-Quarter 2023 Financial Summary Change Increase/(Decrease) Actual Results As Reported As Adjusted” $1.1B (4.3%) (4.3%) Revenue @) @) (5.8%) CC (5.8%) CC Gross Profit Rate 20.4% (20) bps (20) bps $0.1M NM 61.7% Earnings from Operations , , 99.8% CC” 60.1% CC” Adjusted EBITDA $25.5M 33.7% Adjus
Slide 13: EPS Summary
Third-Quarter 2023 EPS Summary Sinmillions except per share data Per Share Net earnings (loss) $6.6 $0.18 ($16.2) ($0.43) Restructuring charges, net of taxes” 11.5 0.32 - - Goodwill impai t ch , net of 100 wi impairment charge, net o - - 254 067 taxes Loss on disposal, net of taxes) - - 0.2 0.01 Adj
Slide 14: Liquidity
Third-Quarter 2023 Liquidity Sinmillions $600 $500 $454 $419 $418 $400 $300 $200 $100 $ $122 9183 $117 $o Q3 2022 Q4 2022 Q3 2023 m Cash, net of Short-term Borrowings m Borrowing Capacity” * As of the end of Q3 2023, we continue to maintain more than $400 million of available liquidity to fund organ
Slide 15: 2023 Outlook and Beyond
2023 Outlook and Beyond We are navigating market conditions created by the current economic uncertainty with a continued commitment to the execution of our specialty growth strategy and transformation initiatives. Assuming a continuation of the current economic environment through the remainder of t
Slide 16: Business Transformation Overview
« Business Transformation Overview Comprehensive initiative to build on our strategic progress. Efforts are facilitated by our Transformation Management Office and led by our Chief Transformation Officer with the support of an outside consulting firm Three key outcomes are expected: ° Optimize busin
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