Slide 1: Second Quarter Results
Second Quarter Results July 16, 2026 Data Classification Level Document Title Here | 1
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, including statements regarding economic and geopolitical uncertainty, including uncert
Slide 3: Second Quarter Highlights
Second Quarter Highlights Delivered strong second quarter results with revenues ahead of expectations, driven by good execution across our portfolio of brands and geographies, continued cost discipline and improved market demand. Manpower had very strong revenue growth in the quarter. Experis revenu
Slide 4: Consolidated Financial Highlights
ManpowerGroup 2026 Second Quarter Results Consolidated Financial Highlights (1) As Reported As Adjusted Q2 Financial Highlights 8% 8% (2) 6% CC 6% CC Revenue $4.9B (Systemwide $5.3B) -80 bps -80 bps Gross Margin 16.1% (3) EBITA $119M (4) NM 16% NM 15% CC ($103M as adjusted) (3) EBITA Margin 2.4% 80
Slide 5: EPS Bridge – Q2 vs. Guidance Midpoint
ManpowerGroup 2026 Second Quarter Results EPS Bridge – Q2 vs. Guidance Midpoint (1) (1) (1) Detail of items included on slide 4. ManpowerGroup | Second Quarter 2026 Results July 2026 | 5
Slide 6: Business Line Revenue Q2 2026
ManpowerGroup 2026 Second Quarter Results Business Line Revenue Q2 2026(1) MANPOWER EXPERIS TALENT SOLUTIONS 15% 10% 10% 8% 5% 1% 0% 0% -2% -3% -5% vs. 2025 reported % vs. 2025 organic CC % Manpower organic CC revenue growth improved sequentially to 8% year over year, from 6% in Q1 Talent Solutions
Slide 7: Consolidated Gross Margin Change
ManpowerGroup 2026 Second Quarter Results Consolidated Gross Margin Change ManpowerGroup | Second Quarter 2026 Results July 2026 | 7
Slide 8: Business Line Gross Profit – Q2 2026
ManpowerGroup 2026 Second Quarter Results Business Line Gross Profit – Q2 2026(1) (1) Business line classifications can vary by entity and are subject to change as service requirements change. ManpowerGroup | Second Quarter 2026 Results July 2026 | 8
Slide 9: SG&A Expense Bridge – Q2 YoY
ManpowerGroup 2026 Second Quarter Results SG&A Expense Bridge – Q2 YoY (in millions of USD) (17.6% CC) (14.1% CC) (13.8% CC) ManpowerGroup | Second Quarter 2026 Results July 2026 | 9
Slide 10: Americas Segment
ManpowerGroup 2026 Second Quarter Results Americas Segment (25% of Revenue) (1) As Reported As Adjusted Q2 Financial Highlights 14% 14% 12% CC 12% CC Revenue $1.2B 14% OCC 14% OCC 99% 24% OUP $72M 97% CC 22% CC ($45M as adjusted) OUP Margin 5.9% 250 bps 30 bps (3.7% as adjusted) (1) Current period e
Slide 11: Americas – Q2 Revenue Trend YoY
ManpowerGroup 2026 Second Quarter Results Americas – Q2 Revenue Trend YoY ManpowerGroup | Second Quarter 2026 Results July 2026 | 11
Slide 12: Southern Europe Segment
ManpowerGroup 2026 Second Quarter Results Southern Europe Segment (47% of Revenue) (1) As Reported As Adjusted Q2 Financial Highlights 7% 7% Revenue $2.3B 4% CC 4% CC 3% 4% OUP $75M -1% CC 1% CC ($79M as adjusted) OUP Margin 3.3% -10 bps -10 bps (3.4% as adjusted) (1) Current period excludes the imp
Slide 13: Southern Europe – Q2 Revenue Trend YoY
ManpowerGroup 2026 Second Quarter Results Southern Europe – Q2 Revenue Trend YoY ManpowerGroup | Second Quarter 2026 Results July 2026 | 13
Slide 14: Northern Europe Segment
ManpowerGroup 2026 Second Quarter Results Northern Europe Segment (17% of Revenue) (1) As Reported As Adjusted Q2 Financial Highlights 4% 4% 1% CC 1% CC Revenue $825M 2% OCC 2% OCC (2) (2) NM NM NM NM OUP $2M 130 bps 100 bps OUP Margin 0.2% (1) Prior year period variances exclude restructuring costs
Slide 15: Northern Europe – Q2 Revenue Trend YoY
ManpowerGroup 2026 Second Quarter Results Northern Europe – Q2 Revenue Trend YoY -28% ManpowerGroup | Second Quarter 2026 Results July 2026 | 15
Slide 16: APME Segment
ManpowerGroup 2026 Second Quarter Results APME Segment (11% of Revenue) (1) As Reported As Adjusted Q2 Financial Highlights -1% -1% Revenue $519M 5% CC 5% CC -9% -10% 0% -1% CC OUP $24M 40 bps 50 bps OUP Margin 4.6% (1) Prior year period variances exclude restructuring costs. ManpowerGroup | Second
Slide 17: APME – Q2 Revenue Trend YoY
ManpowerGroup 2026 Second Quarter Results APME – Q2 Revenue Trend YoY ManpowerGroup | Second Quarter 2026 Results July 2026 | 17
Slide 18: Cash Flow Summary
ManpowerGroup 2026 Second Quarter Results Cash Flow Summary ManpowerGroup | Second Quarter 2026 Results July 2026 | 18
Slide 19: Balance Sheet Highlights
ManpowerGroup 2026 Second Quarter Results Balance Sheet Highlights Total Debt (in millions of USD) (1) Total Debt Net Debt Total Debt to (1) Total Capitalization (1) Long term debt was temporarily increased by €500M on December 15, 2025 when we issued the €500M of Euro notes due 2030 to refinance th
Slide 20: Third Quarter 2026 Outlook
ManpowerGroup 2026 Second Quarter Results Third Quarter 2026 Outlook Revenue Total Up 2-6% (Up 3-7% CC) (Up 4-8% OCC) Americas Up 9-13% (Up 7-11% CC) (Up 9-13% OCC) Southern Flat / Up 4% (Up 1-5% CC) Europe Northern Up 4-8% (Up 5-9% CC) Europe APME Down 3% / Up 1% (Up 3-7% CC) Gross Profit Margin 15
Slide 21: Appendix
Appendix ManpowerGroup | Second Quarter 2026 Results July 2026 | 21
Slide 22: Industry Vertical Composition Based on Revenues – Q2 2026
ManpowerGroup 2026 Second Quarter Results Industry Vertical Composition Based on Revenues – Q2 2026 Industry vertical composition has been updated to align with our Global Sales Verticals based on client segmentation. ManpowerGroup | Second Quarter 2026 Results July 2026 | 22
Slide 23: Debt and Credit Facilities – June 30, 2026
ManpowerGroup 2026 Second Quarter Results Debt and Credit Facilities – June 30, 2026 (in millions of USD) (2) Interest Maturity Total Remaining Rate Date Outstanding Available (4) Euro Notes - €400M 3.514% Jun 2027 456 - Euro Notes - €500M 3.786% Dec 2030 567 - (1)(2) Revolving Credit Agreement 4.77