Trueblue, Inc. · NYSE:TBI
Trueblue — Non-Deal Roadshow (February 2021)
19 slides from Trueblue's roadshow presentation, Feb 22, 2021
Slide 1: Investor Roadshow Presentation February 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements
Slide 3: Investment highlights
Investment highlights Return of Capital Attractive growth potential from secular, cyclical and post-Covid recovery factors Strong balance sheet and cash flow to support stock buybacks Sound growth strategies applying industry leading digital technology to increase market share
Slide 4: Our Mission: Connecting People and Work
Our Mission: Connecting People and Work 99,000 Clients served annually with strong diversity1 490,000 People connected to work during 2020 One of the largest U.S. industrial staffing providers One of the largest global RPO providers2 Returning Value to Shareholders (Share Repurchases last 5 years) 2
Slide 5: Three specialized segments meet diverse client needs
PeopleReady PeopleManagement PeopleScout Revenue mix1 60% 32% 9% Segment profit mix1 73% 20% 8% Segment profit margin 4% 2% 3% Three specialized segments meet diverse client needs Contingent, on-site industrial staffing and commercial driver services Talent solutions for outsourcing the recruiting p
Slide 6: Solving workforce challenges changing the world of work
Solving workforce challenges changing the world of work nimbler more efficient worker supply chain robust solutions
Slide 7: U.S. Industrial Staffing poised for post-Covid rebound
-7% -25% 27% 0% -20% 15% 2008 2009 2010 2019 2020P 2021P U.S. Industrial Staffing poised for post-Covid rebound 1Staffing Industry Analyst reports: Industrial Staffing Growth Assessment: 2020 Update (December 2020). Industrial temp staffing includes various occupations such as: laborers,
Slide 8: RPO: Historically, a double-digit growth industry
RPO: Historically, a double-digit growth industry Why RPO? “Immature” market with no one dominant player Industry historically produced double- digit annual revenue growth pre- Covid Industry poised to bounce-back from estimated 2020 market size ~$6.4 billion Traditionally “sticky” business
Slide 9: Strategically positioned for secular growth
Strategically positioned for secular growth Strong position in attractive vertical markets Powerful secular forces in industrial staffing Positive Demographic Trends Compelling Technology Capitalizing on Industry Evolution 18% 18% 20% 24% FY 2020 Mix by Vertical Co ns tru ct io n M an uf
Slide 10: Strategy highlights
Strategy highlights Leverage technology and our industry leading position to grow share and enhance efficiency Digitalize our business model to gain market share from smaller and less well- capitalized competitors and reduce costs Drive higher client usage ("heavy client users1") through JobStac
Slide 11: PeopleReady: The digital strategy is working
PeopleReady: The digital strategy is working What is JobStack? Initial Focus: Industry leading mobile app that connects our associates with jobs and simplifies ordering Order fulfillment: Digital fills >50%, up 10% YOY Recent achievements: New digital onboarding technology cut application time in ha
Slide 12: JobStack Heavy Client User success story
Q119 Q219 Q319 Q419 Q120 Q220 Q320 Q420 JobStack Heavy Client User success story Customer Profile: Midwest Food Producer and Distributor Long-time PeopleReady Client PeopleReady Service Overview: Supplied associates for one shift Filled a narrow set of positions Shared relationship with anothe
Slide 13: PeopleManagement: Expanding market share
PeopleManagement: Expanding market share PeopleManagement proved more resilient during the pandemic due to the outsourced nature of our client relationships and is well-positioned for growth The team is deploying a variety of tactics and strategies to expand market share o Launching effort focus
Slide 14: PeopleScout: Industry leader with historically high margins
$181 $252 $160 2016 2019 2020 Revenue PeopleScout: Industry leader with historically high margins Strong Brand Recognition o #1 by HRO Today’s Total Workforce Solution Baker’s Dozen o 3rd largest North American and 4th largest global RPO provider Affinix Technology: A Differentiated Experience o
Slide 15: ESG principles help us make sound decisions
ESG principles help us make sound decisions External ESG Ratings: AA Rating Risk Ranking: Low Risk Exposure: Low Risk Management: Avg Key Statistics: MSCI ESG industry leader (top 20% of all rated companies) 67% of Board Members are women or racially diverse 51% of Senior Management are women
Slide 16: The balance sheet continues to strengthen
The balance sheet continues to strengthen 1 Borrowing Availability is based on maximum borrowing availability under our most restrictive covenant, which was Minimum Asset Coverage for 2020. 2 Total Debt to Capital calculated as total debt divided by the sum of total debt plus shareholders’ equity. 3
Slide 17: Strong track record of returning capital to shareholders
Strong track record of returning capital to shareholders $169 million of capital returned to shareholders via share repurchases over the last five years (2016-2020) 3.6M shares repurchased 9% reduction in shares outstanding Year 1 6.8M shares repurchased 17% reduction in shares outstanding 8.6M shar
Slide 18: Appendix
Appendix THE PEOPLE COMPANY®
Slide 19: Non-GAAP Financial Measures and Non-GAAP Reconciliations
NON-GAAP FINANCIAL MEASURES AND NON-GAAP RECONCILIATIONS In addition to financial measures presented in accordance with U.S. GAAP, we monitor certain non-GAAP key financial measures. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our