Robert Walters Plc · LSE:RWA

Robert Walters — Investor Day (September 2021)

94 slides from Robert Walters's investor day presentation, Sep 22, 2021

1. Slide 1: Capital Markets event

   Capital Markets event Robert Walters plc 22 September 2021

2. Slide 2: Capital markets

   fet mcr " ROBERT WALTERS GROUP

3. Slide 3: Financial overview

   ROBERT WALTERS GROUP Financial overview

4. Slide 4: Net fee income 2000 - 2021

   Capital markets Net fee income 2000 - 2021  Track record of long term secular growth 450 400 350 300 250 FY £m 200 H1 150 100 50 - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 *2021 FY NFI is based on analyst consensus 4

5. Slide 5: Headcount 2000 – 2021

   Capital markets Headcount 2000 – 2021  Headcount linked to market confidence. Driver of net fee income growth 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 H1 2021 5

6. Slide 6: Operating profit 2000 - 2021

   Capital markets Operating profit 2000 - 2021 60 50 40 30 FY £m H1 20 10 - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 -10 *2021 FY Operating Profit is based on analyst consensus 6

7. Slide 7: Dividend payments 2000 - 2021

   Capital markets Dividend payments 2000 - 2021 20 18 16 14 12 FY Pences 10 H1 8 6 4 2 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 *2021 FY Dividend is based on analyst consensus 7

8. Slide 8: Total NFI 2019 - 2021

   Capital markets Total NFI 2019 - 2021 120 40% 31% 110 30% 100 90 20% 80 10% 5% 10% 70 2% 60 - £m (7%) 50 (11%) (11%) (10%) 40 30 (20%) (26%) 20 (30%) (34%) (30%) 10 - (40%) Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Total NFI YoY Growth in CC* * Constant currency

9. Slide 9: PE and EPS CAGR

   Capital markets PE and EPS CAGR 50x Hays 45x 40x 35x 30x PE 2021E 25x Page Group US average 20x Robert Walters Group Europe average SThree Staffline 15x UK average 10x 5x 0x -8% -6% -4% -2% 0% 2% 4% 6% 8% EPS CAGR 2007-2021E 9

10. Slide 10: Robert Walters & Walters People

    Robert Walters & Walters People Toby Fowlston, CEO

11. Slide 11: Toby Fowlston career history

    Capital markets Career history 1997 2003 2011 2013 2019 Qualified Manager – Managing Managing CEO Asia Solicitor Banking Director – Director Pacific London Permanent Singapore London CEO Joined Managing Robert Robert Director Managing Walters & Walters Director London & Director Walters London Londo

12. Slide 12: Robert Walters & Walters People operational management team

    Capital markets Robert Walters & Walters People operational management team Robert Walters CEO Robert Walters Group *36 Toby Fowlston CEO Robert Walters & Walters People *22 James Nicholson Chris Hickey Rob Vermaak Marco Laveda CEO Asia Pacific CEO UK, MEA, North CEO Benelux, France & CEO Iberia & L

13. Slide 13: Skills in highest demand; net fee income by discipline

    Capital markets Growth in advertised jobs vs February 2020 Skills in highest demand  Software Developer  Data Scientist  Finance Manager  Business Analyst  Project Manager US advertised jobs Germany advertised jobs 39% up vs Feb 2020 26% up vs Feb 2020 Recruitment net fee income by discipline A

14. Slide 14: Multi-country recruitment for international clients

    Capital markets Multi-country recruitment for international clients United Kingdom Philippines Chile Portugal UAE Thailand UAE Germany Hong Kong Malaysia Brazil Germany Brazil Vietnam Spain Switzerland Spain Switzerland Spain Malaysia France South Africa France South Africa Mainland China Indonesia

15. Slide 15: Asia Pacific

    Capital markets Asia Pacific

16. Slide 16: Asia Pacific permanent/contract recruitment

    Capital markets Asia Pacific (45% of net fee income) Asia Pacific Permanent/contract 25% recruitment Contract 2020: 30% Locations: Australia New Zealand 75% Permanent Hong Kong Philippines 2020: 70% India Singapore Indonesia South Korea Japan Taiwan Mainland China Thailand Malaysia Vietnam Recruitme

17. Slide 17: Varied conditions but same positive results

    Capital markets Varied conditions but same positive results Vietnam China 17

18. Slide 18: Northeast Asia: market trends and strengths

    Capital markets Northeast Asia Current market trends  Despite a 4th State of Emergency in Japan, a slow vaccination rollout and increased cases post Olympics our most profitable global business has had an outstanding year to date  Digital transformation is the driving force – increased demand for

19. Slide 19: Northeast Asia: growth opportunities

    Capital markets Northeast Asia Growth opportunities  Diversification of client base – balance of domestic companies and MNCs  Industrial market growth – shortage of semiconductor products  Launched Healthcare discipline and exploring contract market in South Korea Return Home Campaign CSR award C

20. Slide 20: Australia & New Zealand: market trends and strengths

    Capital markets Australia & New Zealand Current market trends  Acute skills and candidate shortages particularly in tech, financial services and business support  Exacerbated by lack of immigration and professionals migrating overseas  Salaries rose by circa 20% in H1 for in demand skills. Circa

21. Slide 21: Australia & New Zealand: growth opportunities

    Capital markets Australia & New Zealand Growth opportunities  Strengthening depth and expertise in existing disciplines in Australia, especially in tech and financial services, to maintain competitive advantage against growing number of boutiques  Incubation of new specialisations within existing

22. Slide 22: Southeast Asia: market trends and strengths

    Capital markets Southeast Asia Current market trends  Lengthy lockdowns and low vaccination rates in emerging markets, however job volumes continue to increase  Candidate confidence has increased but due to candidate shortages counteroffers are commonplace  Significant tech talent shortages acros

23. Slide 23: Southeast Asia: growth opportunities

    Capital markets Southeast Asia Growth opportunities  The Philippines is well positioned to be a net gainer for BPO activities from higher cost countries  Lockdown has shown companies they are able to operate support functions remotely and at a lower cost. Possible increase in digital nomads  Tech

24. Slide 24: Greater China: market trends and strengths

    Capital markets Greater China Current market trends  Migration of talent out of Hong Kong due to political tensions notably to the UK, Australia, Canada and Taiwan  Almost 100,000 Hongkongers have already relocated. Foresee this reaching circa 150,000 when borders open next year  Job vacancies at

25. Slide 25: Greater China: growth opportunities

    Capital markets Greater China Growth opportunities  Launch of Sales, Engineering and Property teams in Hong Kong – demand continues to grow as infrastructure projects within construction and property ramp up  Scaling business in Southern China to capitalise on market opportunities  Rapid developm

26. Slide 26: EMEAA

    Capital markets EMEAA

27. Slide 27: EMEAA permanent/contract recruitment

    Capital markets EMEAA (55% of net fee income) EMEAA Permanent/contract 29% recruitment Contract 2020: 37% Locations: 58% Benelux Middle East Permanent 2020: 49% Brazil Mexico Canada Portugal Chile South Africa Czech Republic Spain 13% Interim France Switzerland 2020: 14% Germany UK Ireland USA Recru

28. Slide 28: France: market trends and strengths

    Capital markets France Current market trends  Market has bounced back strongly although candidates still remain somewhat cautious on moving roles  Permanent market is active – permanent hire preference rather than interim management or contract as organisations move to secure talent long-term  Ca

29. Slide 29: France: growth opportunities

    Capital markets France Growth opportunities  Further growth in our Real Estate, Legal, Finance, Sales and Tech & Digital recruitment divisions  Opportunity to further service clients at mid-senior level alongside our existing interim management business  Strong regional office network to support

30. Slide 30: Benelux & DACH: market trends and strengths

    Capital markets Benelux & DACH Current market trends  Netherlands – broad-based increase in recruitment activity – shortage of candidiates particularly in technology, finance and legal  Germany – demand for specialist professionals has increased significantly. Candidate shortages acute across most

31. Slide 31: Benelux & DACH: growth opportunities

    Capital markets Benelux & DACH Growth opportunities  Netherlands – executive search portfolio is growing. Diversification of legal division into the public and semi-public sector offers huge potential  Germany – huge growth potential across all divisions. Office footprint and capacity enables us t

32. Slide 32: United Kingdom: market trends and strengths

    Capital markets United Kingdom Current market trends  Accelerated vacancy growth across the UK. More than five times the number of jobs sourced in H1 2021 VS H1 2020  Demand for top-calibre candidates is at an all-time high with activity picking up across multiple industries, including the VC-back

33. Slide 33: United Kingdom: growth opportunities

    Capital markets United Kingdom Growth opportunities  Technology recruitment is expected to remain particularly busy in London and the Midlands where a number of high- growth businesses are scaling their technology functions e.g. Global Relay, Copper and Causeway  Continued focus on high-growth sec

34. Slide 34: Iberia: market trends and strengths

    Capital markets Iberia Current market trends  Spain has now vaccinated over 70% of the population and life is returning to ‘normal’. Positive effect on the recruitment market with hiring bouncing back strongly in Q2  Significant spike in Investment banking/M&A operations recruitment activity  Qua

35. Slide 35: Iberia: growth opportunities

    Capital markets Iberia Growth opportunities  Energy transition (where we have achieved a leading position) is an area primed for further growth e.g. electric vehicles, solar and wind, water and waste management  Continued growth in Pharma and BioTech – both sectors booming in response to the pande

36. Slide 36: The Americas: market trends and strengths

    Capital markets The Americas (US, Canada, Chile, Brazil and Mexico) Current market trends  US – VC investment for tech companies continues to be as strong as ever  West Coast – tech companies have become more open to recruiting professionals outside of the tech hubs due to lack of talent available

37. Slide 37: The Americas: growth opportunities

    Capital markets The Americas (US, Canada, Chile, Brazil and Mexico) Growth opportunities  US – we are expanding our existing disciplines within our current locations and launching a growth plan in 2022 to focus on extending our office footprint into other high growth locations  Now have a very est

38. Slide 38: Middle East & Africa: market trends and strengths

    Capital markets Middle East & Africa Current market trends  Middle East – price of crude oil, reaching a high of $75 in July (and predictions that it could go higher) has provided the foundation of a very busy recruitment market  25% of the South African population have now received their first va

39. Slide 39: Middle East & Africa: growth opportunities

    Capital markets Middle East & Africa Growth opportunities  Organisations in the Middle East are open to relocating tech and digital talent from more “digitally” mature markets overseas  Growing number of loyal clients across the Middle East in FinTech, Tech, E-Commerce, and FS - regular flow of re

40. Slide 40: Potential new markets / offices

    Capital markets Potential new markets / offices 40

41. Slide 41: Q&A

    Capital markets Q&A

42. Slide 42: Resource Solutions

    Resource Solutions Norma Gillespie, CEO

43. Slide 43: Norma Gillespie career history

    Capital markets 2015 Career history 2007 2015 2020 Account Director Operations Director Chief Executive Officer Head of Operations Managing Director 2010 2017 43

44. Slide 44: Operational management team

    Capital markets Operational management team Robert Walters CEO Robert Walters Group *36 Norma Gillespie CEO Resource Solutions *14 David Barr Kristin Thomas Kristen Buckheit Jess Holt MD APAC Head of US Senior Ops Director Global Head of EMEA Workforce Consultancy *21 *1 *22 *1 *denotes years of ser

45. Slide 45: Our opportunity

    Capital markets Our opportunity  Outsourcing market growth  Global RPO market is currently worth $5.8bn (Nelson Hall)  Unique products informed by market trends  Scalable business positioned for growth  Sustainable and responsible growth strategy 45

46. Slide 46: A consultative product offering to address market trends

    Capital markets A consultative product offering to address market trends and meet client needs Permanent Contingent Total Talent Advisory End-to-end RPO​ MSP RPO and MSP Diverse hiring​ Project​ Services Procurement Early Careers Assessment​ management Modular Services Procurement Employer brand and

47. Slide 47: Partnered with some of the world's leading brands

    Capital markets Partnered with some of the world’s leading brands 47 47

48. Slide 48: NHS

    ROBERT WALTERS GROUP 48

49. Slide 49: Addressing market trends

    Capital markets Addressing market trends

50. Slide 50: Global trends: The Perfect Storm, Mind the Gap

    Capital markets Global trends The Perfect Storm Mind the Gap  41% of workers looking to change jobs in the  40% of existing workforces will need to be replaced next 12 months or significantly reskilled over the next five years  Record numbers of unfilled positions:  75% of organisations are stru

51. Slide 51: Unique products to meet market trends

    Capital markets Unique products to meet market trends RSIntelligence Accelerate (Workforce Consultancy)  In the post-Big Data era, Analytics for Action is a  Improves workplace diversity and encourages social differentiator mobility​  Meaningful insights and data-led resource planning  Gives our

52. Slide 52: Sustainable strategy

    Capital markets Sustainable strategy

53. Slide 53: Globally connected with a network of service centres

    Capital markets Globally connected with a network of service centres to support offshore and domestic growth Algeria Israel Angola Italy 6 Australia Japan Global Service Centres Bahrain Kenya Belgium Korea Bulgaria Kuwait Jacksonville, USA Manchester, UK Wroclaw, Poland 160+ Channel Islands Lithuani

54. Slide 54: Driving social change with our clients

    Capital markets Driving social change with our clients D&I ambitions Diverse Hiring Audits “Our target is to have 35% of senior The most advanced diverse hiring audit leadership roles filled by women by available in the market, analysing the 2025” impact of recruitment content and processes across s

55. Slide 55: Robert Walters Group

    ROBERT WALTERS GROUP

56. Slide 56: Technology & transformation

    Technology & transformation Kevin Bulmer, Chief Technology & Transformation Officer

57. Slide 57: Kevin Bulmer career history

    Capital markets Career history 1995 2006 2011 2017 Oriel, Oxford Accenture – Infosys Infosys PPE Portfolio Lead for Consulting – EU Consulting – Unilever CRM Lead Partner & EU Customer Digital Lead Development Accenture – Anderson interim COO Pearson – CTO & CTTO, Robert Consulting Barclaycard IT SV

58. Slide 58: Technology principles of transformation

    Capital markets Technology “As a business with innovation & entrepreneurship embedded at its core, being at the cutting edge of technological change has paid dividends in terms of Enable Innovation our readiness to face the continued and unique Secure Data challenges presented to us.” Focus on Simpl

59. Slide 59: Transformation of technology estate across 6 areas

    Capital markets Technology The transformation of our technology estate continues at pace across 6 specific areas: Transforming Enabling The Digital Recruiter Workspace Evolution Functions Creating a consumer-grade, Create a highly connected, Enterprise technologies to simplified experience for our i

60. Slide 60: Technology: Zenith

    Capital markets Technology: Zenith M A D E B Y T H E R O B E R T W A L T E R S G R O U P, F O R T H E R O B E R T W A LT E R S G R O U P  A new custom CRM, tailored to our business needs  Focus on user experience and simplicity  Intuitive and built to suit the way our consultants do business  Ea

61. Slide 61: Why did we decide to build Zenith ourselves?

    Capital markets Technology: Zenith M A D E B Y T H E R O B E R T W A L T E R S G R O U P, F O R T H E R O B E R T W A LT E R S G R O U P Why did we A tailored solution, built on our business needs, which decide to build allows us to adapt our needs change over time Zenith ourselves? Mobile solution,

62. Slide 62: Technology: Zenith

    Capital markets Technology: Zenith M A D E B Y T H E R O B E R T W A L T E R S G R O U P, F O R T H E R O B E R T W A LT E R S G R O U P 62

63. Slide 63: Technology: The Microsoft Story

    Capital markets Technology: The Microsoft Story Our goal has been to deliver a best-in-class technology stack that would enable our people to work efficiently, flexibly and securely To achieve this, we’ve been working in partnership with Microsoft, leveraging their industry-leading infrastructure an

64. Slide 64: The Microsoft Story - ERP

    Capital markets Technology: The Microsoft Story - ERP Facilitate the global growth of the business by adopting a single shared platform across Human Resources and Finance functions TECHNOLOGY DELIVERY  Dynamics our new enterprise  Global rollout completed resource planning system (ERP) December 20

65. Slide 65: Technology: Transition into innovation

    Capital markets Technology: Transition into innovation We have the building blocks, but continue to evolve our major platforms. We’ll add digital integration capabilities over the next six months to facilitate rapid deployment of innovation. D I G I TA L MODERN I N N O VAT I O N C U LT U R E T E C H

66. Slide 66: Robert Walters Group

    ROBERT WALTERS GROUP

67. Slide 67: Innovation

    Innovation Faye Walshe, Director of Innovation

68. Slide 68: Agenda

    Capital markets Agenda Intro & Recap on Innovation Strategy Pandemic Workforce Trends  Focus on New Advisory Services Update on Achievements since we last met Trends  New HR & recruitment techs making a buzz in the market and attracting VC funding 68

69. Slide 69: Innovation strategy: Enabling human connections

    Capital markets Innovation strategy Enabling human connections “ At the Robert Walters Group we see technology as an enabler, not a threat. Our test & trial strategy ensures that we are evaluating innovative new technology and determining whether it delivers productivity enhancements to our recruite

70. Slide 70: Innovation focus

    Capital markets Innovation focus - Global Webinar - Assessment - RS Transformation Landscape Tech Radar & Trends Internal Innovation Client Advisory Programme - Zenith - eBooks - Gender Data Audit - Intelligent Search, - Articles - Chatbot led automation Match & Rank - Data practices to drive - Work

71. Slide 71: Pandemic workforce trends

    Capital markets Pandemic workforce trends

72. Slide 72: Factors contributing to a 'Perfect Storm'

    Capital markets What are the factors contributing to a ‘Perfect Storm’? Women & minorities have left the workforce…. Pandemic set back gains in equality Women less keen to return to the office… … but office based workers are more likely to be promoted = White, Male dominated offices? 63% 2.6m women

73. Slide 73: Economic case for reskilling

    Capital markets Covid-19: The unexpected catalyst for digitalisation that was already happening Megatrends Technology Digitisation Economic case for reskilling Automation Ageing population 73

74. Slide 74: Diverse Hiring: Recruitment Inclusivity Audit

    Capital markets New Advisory Services Diverse Hiring: Recruitment Inclusivity Audit  Deep data dive  Audits 12 stages of the recruitment process  Through multiple candidate impact lenses 74

75. Slide 75: Diverse Hiring: Recruitment Inclusivity Audit

    Capital markets New Advisory Services Diverse Hiring : Recruitment Inclusivity Audit Rich and actionable results, presented visually and with deep reasoning, backed up by extensive research 75

76. Slide 76: Delivering impact with clients

    Capital markets Diverse Hiring Advisory Delivering impact with clients Audit findings presented to UK CEO of HSBC Chief People Officer & TSB Exco – 1st 45 mins at ExCo Level Head of UK Resourcing – presented to AXA UK CEO HRLT EXCO Engagement – First external vendor to be invited to present at this

77. Slide 77: Delivering impact with awards

    Capital markets Diverse hiring advisory Delivering impact with awards 77

78. Slide 78: Innovation delivered

    Capital markets Innovation delivered

79. Slide 79: Some innovation highlights – 2019-2021

    Capital markets Some innovation highlights – 2019-2021 Microsoft Dot the Bot Video my Job Global roll out of fully integrated mobile The Group has built its first Chatbot ‘Dot’ to Utilising video to bring roles/JDs to life for working solution for all front office staff manage contractor queries. Mu

80. Slide 80: Some innovation highlights – 2019-2021

    Capital markets Some innovation highlights – 2019-2021 Intelligent Search & Match Automation & Chatbots Digital CVs @ Walters The goal of this new global roll out is to Building our capability to automate at scale, we People capture candidates' information quickly and launched a pioneering, chat-bas

81. Slide 81: Some innovation highlights – 2019-2021

    Capital markets Some innovation highlights – 2019-2021 Innovation Trends Events Digital Agility Advisory Services Launch Innovation and creativity were at the heart of Stunning digital agility displayed by our people : Responding to client demand, we launched a new virtual events strategy deployed b

82. Slide 82: Trends in Recruitment - Emerging HR & Rec Tech

    Capital markets Trends in Recruitment - Emerging HR & Rec Tech

83. Slide 83: HR Tech VC Funding

    Capital markets HR Tech VC Funding HR Tech VC Funding 83

84. Slide 84: HR Tech VC Funding

    Capital markets HR Tech VC Funding $1.28 billion $5 billion Triple Q4 2020 global HR tech 2020 global HR tech In 2020 HCM tech saw venture capital investment. investment. Second highest nearly triple the dollars Clear signs of pandemic annual total in the last invested in talent acquisition impact o

85. Slide 85: Where is VC funding going?

    Capital markets Where is VC funding going? 85

86. Slide 86: Examples of recent recipients of VC funding

    Capital markets Examples of recent recipients of VC funding D ATA INTERNAL MOBILITY / SKILLS GAPS NETWORKING SURVEILLANCE WELLNESS 86

87. Slide 87: Why is eqtble worth watching?

    Why is eqtble worth watching? • Insights and visualisations about four main areas: talent recruitment, workforce, engagement (including attrition, or when workers quit), and compensation • eqtble claims to deliver insights in 6 weeks by implementing a fully automated data process • Founded by Snap’s

88. Slide 88: Why is Gloat worth watching?

    Why is Gloat worth watching? • With total funding of $92M, the company will accelerate product innovation and market expansion • Talent Marketplace for internal mobility, mentorship, and projects • Career pathways mapped based on skills and desired roles • Potential to manage TOTAL TALENT MARKETPLAC

89. Slide 89: Why is Fuel50 worth watching?

    Why is Fuel 50 worth watching? • Fuel50 Raises $15.5 Million for Internal Mobility – despite Inner Mobility by Gloat & Phenom People, it’s a category without a clear owner • It offers AI-driven smart matching, skills gap analysis, mentoring, feedback, internal gigs and opportunities, and analytics.

90. Slide 90: Why is Blind worth watching?

    Why is Blind worth watching? • Anonymous professional network, announced a $37 million Series C round of venture capital to move its platform toward career advice and recruiting. This brings its total raised to $61.8 million. • The start up is hoping to harness what’s communicated by employees anony

91. Slide 91: Why is Connecteam worth watching?

    Why is connecteam worth watching? • Israel-based Connecteam Raises USD $37 Million for Deskless Workforce Management • One of the emerging category of employee surveillance tech boasting features such as “Ensure employees are where they should be” and “Always know who clocked in, when, and where!”

92. Slide 92: Why is Unmind worth watching?

    Why is unmind worth watching? • Recently announced a USD $47 million Series B round of venture capital funding for its employee mental wellness app. This brings its total raised to $63.2 million. • Unmind has also built out analytics that correlate mental wellness to business results and ROI • Clien

93. Slide 93: Robert Walters Group

    ROBERT WALTERS GROUP

94. Slide 94: Robert Walters Group

    ROBERT WALTERS GROUP

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