Kelly Services, Inc. · NASDAQ:KELYA

Kelly Services — Q1 2025 Earnings Presentation

17 slides from Kelly Services's earnings presentation, May 8, 2025

1. Slide 1: May 8, 2025

   May 8, 2025

2. Slide 2: Presentation

   Presentation

3. Slide 3: Safe Harbor Statement

   (© 2024 Kelly Services nc. llrightsreserved. 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

4. Slide 4: Non-GAAP Measures

   Non-GAAP Measures (© 2024 Kelly Services nc. llrightsreserved. Management believes that the non-GAAP (Generally Accepted Accounting Principles) information excluding the 2025 integration and realignment costs, the 2025 and 2024 transaction costs, the 2025 executive transition costs, the 2024 gain on

5. Slide 5: a je rT) c G = ic

   a je rT) c G = ic

6. Slide 6: Takeaways

   First-Quarter 2025 Takeaways Revenue growth reflects 2024 MRP acquisition and solid execution despite challenging current macroeconomic conditions and resulting pressure on staffing demand + Qlrevenue up 11.5% on a reported basis * Organic Q1 revenue up 0.2%"), including 0.8% of reduced demand for U

7. Slide 7: Financial Summary

   First-Quarter 2025 Financial Summary Change Increase/(Decrease) Actual Results As Reported As Adjusted”) Revenue $1.2B 11.5% 11.5% Gross Profit Rate 20.3% 60 bps 60 bps Earnings from Operations $10.8M (59.8%) (4.2%) Diluted Earnings per Share $0.16 ($0.54) ($0.17) Adjusted EBITDA $34.9M 4.9% Adjuste

8. Slide 8: Revenue Trends

   First-Quarter 2025 Revenue Trends Reported”) Organic” Total 11.5% 0.2% Enterprise Talent Management) 1.9% (0.0%) Science, Engineering & Technology™ 39.2% (7.2%) Education 6.6% 6.3% === Refer to the last slide for footnotes. 2024 Kelly Sences nc. Al ights reserved

9. Slide 9: First-Quarter 2025 Gross Profit Rate

   © 2024 Kelly Services nc. Alleghts reserved First-Quarter 2025 Gross Profit Rate 22.0% 21.5% Organic GP 21.0% (30) bps 90 bps r 1 20.5% — 20.3% (10) bps. | % 20) by 20.0% 19.7% (20) bps 19.5% 19.0% 18.5% 18.0% Q1 2024 GP Rate MRP Business mix Perm Fees Q1 2025 GP Rate & other * GP rate favorably imp

10. Slide 10: SG&A

    First-Quarter 2025 SG&A Sinmilions $250 $240 sn $230 a3 || Lee | $226 5 — — $220 9) ($2) (52) $210 $200 sim 5190 $180 $170 $160 $150 Q1 2024 SG&A MRP. Integration 5 Prior Year Prior Year Operations Q1 2025 SG&A & realignment costs Transaction costs Transformation costs + SG&A expenses increased prim

11. Slide 11: First-Quarter 2025 Revenue and Gross Profit Mix

    (© 2024 kelly Senvees ne. First-Quarter 2025 Revenue and Gross Profit Mix Allrights reserved Revenue Mix‘) Gross Profit Mix‘) EDU . me 2025 2025 EDU 28% 2024 n

12. Slide 12: EPS Summary

    First-Quarter 2025 EPS Summary Sinmillions except per share data Net earnings Integration and realignment costs, net of taxes) Transaction costs, net of taxes”) Executive transition costs, net of taxes® Gain on sale of EMEA staffing operations, net of taxes”) Gain on forward contract, net of taxes")

13. Slide 13: Liquidity

    First-Quarter 2025 Liquidity (© 2024 Kelly Servcesne. llrightsreserved $inmillions $600 $500 $400 $300 $200 $100 $o -$100 -$200 -$300 -$400 $505 $154 ste $46 $43 $46 Q1 2024 Q4 2024 Q12025 mCash gi Unused Borrowing Capacity SBLC Borrowings As of the end of Q1 2025, we have approximately $180 million

14. Slide 14: Q2 2025 Outlook

    (© 2024 Kelly Services nc. llrightsreserved. Q2 2025 Outlook Our Q2 2025 Outlook assumes macro and staffing market conditions consistent with those at the end of the first quarter. Through our ongoing focus on efficiency and effectiveness, we are well prepared to navigate this rapidly evolving macro

15. Slide 15: Appendix

    Appendix 15

16. Slide 16: • • • • • • • • • • • • • •

    • • • • • • • • • • • • • • • • • • • • • • • • •

17. Slide 17: Footnotes

    First-Quarter 2025 Footnotes © 2024 Kelly Services nc. Alleghts reserved 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 1) 12) 13) 14) 15) 16) Organic excludes the 2025 results of Motion Recruitment Partners ("MRP"), which was acquired as of May 31, 2024 and was included in the reported results of operations in Sci

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