Slide 1: Investor Presentation
Investor Presentation June 2025
Slide 2: Safe Harbor
Certain statements made in this news release are “forward-looking statements” within the meaning of Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking Safe information includes estimates of the company’s
Slide 3: ASGN At a Glance
ASGN At a Glance Leading provider of IT services and solutions to the commercial & government sectors REVENUES (TTM) Free Cash Flow (TTM) $ 4.0 BILLION $ 308.8 MILLION Adjusted EBITDA (TTM) Total Addressable Market $ 437.3 MILLION ~$ 600 BILLION 3
Slide 4: Evolution Driving Narrower Focus & Enhanced Margin Opportunity
Evolution Driving Narrower Focus & Enhanced Margin Opportunity Further Expanded Expanded Consulting Expanded Government Solutions Commercial IT Solutions Company IT Services Divested Oxford in 2021; Acquired ECS Federal in 2018, Founded adding high-value, mission- acquired several leading Acquired A
Slide 5: Investment Highlights Position ASGN for Growth
- Industry diverse, US-focused client base Go-To-Market Strategy v - Direct access to deep, talented, technical labor pool - Leverage onshore, nearshore, and offshore resources - Majority of revenues in IT consulting IT Centric v Investment Business - Fast adopters on new technologies - Tailwinds: A
Slide 6: Diverse End Markets
Mix Consumer & Industrial 20% TMT 14% Diverse End Financial Services 13% Markets Business Services 11% Healthcare 11% Q1 2025 $1.0B in Revenue Defense & Intel 13% National Security 8% Federal Civilian 6% Federal Other 4% 6
Slide 7: Moving up the IT Services Pyramid Provides Higher-end, High Value Opportunities
Moving up the IT Services Pyramid Provides Higher-end, Establishing the Digital Strategy and Roadmap Digital Strategy High Value Opportunities Architecture Translate Digital Strategy into Technical Architecture and Roadmaps Build Custom and Cloud Native Applications, Engineering Configure Enterprise
Slide 8: How we go to Market
1 Right Markets Commercial Government How we go 2 Right IT Fortune 1000 Large Mid-Market Companies Defense & Intelligence National Security Civilian & Other to Market Solutions Cybersecurity Cloud & Data Management AI & ML Digital Transformation Right Technology 3 Partners 8
Slide 9: Variable Cost Structure Provides Flexibility & Support
Variable Cost Structure Provides Flexibility & Support - Contingent workforce that flexes with revenue Gross Margin - Favorable business mix drives gross margin - Flexible incentive compensation model SG&A - Shared services model leverages infrastructure costs - Opportunity for margin expansion with
Slide 10: Disciplined Capital Allocation
Acquisitions A contributor to top-line and margin, augments organic growth Disciplined Capital Allocation Strategy Share Debt Buybacks Repayment $750M share repurchase plan Free cash flow underpins drives stockholder value; largest borrowing capacity and quick in Company history deleveraging 10
Slide 11: Expanding IT Consulting Capabilities with TopBloc
Expanding IT Consulting Capabilities with TopBloc ASGN recently acquired TopBloc, a leading, high-growth, tech-enabled Workday consultancy and 2025 Workday Partner of the Year for Business Impact. • Experienced team of over 500 consultants • Leader in enterprise cloud applications for • Proprietary
Slide 12: Quarterly Financial Results
First Quarter Quarterly 2025 2024 Financial Revenue 968.3 $ $1,049.0 Results Gross Margin 28.4% 28.2% ($’s in millions, except per share data) Adjusted Net Income 40.4 $ $54.6 Adjusted EBITDA 93.6 $ 108.3 $ Adjusted EBITDA Margin 9.7% 10.3% Adjusted Net Income Per Diluted Share 0.92 $ $1.16 12
Slide 13: Q2 2025 Financial Estimates
Financial Estimates (as of April 23, 2025) LOW HIGH Key Revenues $985.0 — $1,015.0 Q2 2025 Assumptions Y-Y Revenue Change Gross Margin (4.8%) — (1.9%) 29.0% — 29.3% Financial SG&A expenses $209.8 — $214.2 Estimates Net Income Earnings per diluted share $29.3 — $34.3 $0.66 — $0.78 Non-GAAP Financial
Slide 14: Summary
61% of revenues as of Q1 2025 in IT consulting, Summary providing more value to clients and higher growth and margin opportunities to ASGN Our diverse industry verticals provide balance and support; aligned with the Fortune 1000 and federal government clients that are the largest IT purchasers Our g
Slide 15: Appendix
© ASGN’ Appendix
Slide 16: Diverse Verticals Provide Industry Depth
Diverse Verticals Provide Industry Depth ASGN delivers a wide range of in-demand IT solutions across Artificial Intelligence, Cloud, Cybersecurity, Data & Analytics, and IT Modernization. Financial Consumer Business Federal Services & Industrial Healthcare TMT Services Government - Banking - Energy
Slide 17: Commercial Segment Key Metrics
Gross Profit & Margin $233.8 $237.3 $235.8 $226.0 $255.0 $217.7 $205.0 32.7% 32.8% Commercial Segment $155.0 32.0% 32.6% 32.4% $105.0 Key Metrics ($’s in millions) $55.0 $5.0 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Revenues by Type $731.5 $725.7 $718.8 $692.7 $672.2 Adjusted EBITDA & Margin $125.0 $454.5 $444
Slide 18: Federal Segment Key Metrics
Adjusted EBITDA & Margin $40.0 $35.0 $32.1 $33.8 $33.6 $32.2 $28.4 Federal Segment $30.0 $25.0 10.1% 10.9% 10.8% 11.0% 9.6% Key Metrics $20.0 $15.0 ($’s in millions) $10.0 $5.0 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Revenues & Gross Profit Q1 CHANGE 2025 2024 Y-Y Revenues $ 296.1 $ 317.5 -6.7% Gross Profit $
Slide 19: Balance Sheet & Cash Flow Metrics
Cash Flow Data Q1 2025 2024 CHANGE Balance Sheet Cash Flows from Operating Activities: & Cash Flow $ 66.4 $ 77.4 (14.2%) Before Changes in Operating Assets and Liabilities Changes in Operating Assets and Liabilities, Net (49.6) (4.1) N/M Metrics Cash provided by Operating Activities $ 16.8 $ 73.3 (7
Slide 20: Selected Financial Data
Selected Financial Data 2023 2024 2025 ($ in millions, except per share amounts) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Commercial Assignment $ 560.4 $ 530.2 $ 508.2 $ 480.1 $ 2,078.9 $ 454.5 $ 444.2 $ 433.8 $ 408.0 $ 1,740.5 $ 382.1 Consulting 271.7 281.1 274.2 268.5 1,095.5 277.0 281.5 285.0 284.7 1,128
Slide 21: Reconciliations of GAAP to Non-GAAP Measures
Reconciliations of GAAP to Non-GAAP Measures 2023 2024 2025 ($ in millions, except per share amounts) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Free Cash Flow Cash provided by operating activities $ 80.5 $ 112.5 $ 147.5 $ 116.4 $ 456.9 $ 73.3 $ 90.7 $ 135.8 $ 100.2 $ 400.0 $ 16.8 Capital expenditures (11.7)
Slide 22: Commercial Segment
Commercial Segment 2023 2024 2025 ($ in millions) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Revenues by Type: Assignment $ 560.4 $ 530.2 $ 508.2 $ 480.1 $ 2,078.9 $ 454.5 $ 444.2 $ 433.8 $ 408.0 $ 1,740.5 $ 382.1 Consulting 271.7 281.1 274.2 268.5 1,095.5 277.0 281.5 285.0 284.7 1,128.2 290.1 832.1 811.3 782
Slide 23: Federal Government Segment
Federal Government Segment 2023 2024 2025 ($ in millions) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Revenues $ 296.7 $ 319.6 $ 334.4 $ 325.5 $ 1,276.2 $ 317.5 $ 309.0 $ 312.2 $ 292.3 $ 1,231.0 $ 296.1 Gross Margin 21.6% 20.5% 20.4% 19.9% 20.6% 19.7% 20.6% 20.7% 20.5% 20.4% 19.5% Adjusted EBITDA $ 33.3 $ 35.9
Slide 24: Billable Days
Billable Q1 Q2 Q3 Q4 FY Days 2025 62.00 63.25 63.50 61.00 249.75 2024 62.75 63.50 63.50 61.00 250.75 2025 vs 2024 (0.75) (0.25) - - (1.00) Sequential (2025) 1.00 1.25 0.25 (2.50) (1.00) Sequential (2024) 2.75 0.75 - (2.50) 2.00 24
Slide 25: Notes
6. Federal Segment revenues include Department of Defense and intelligence agencies, National Security (Department of Homeland Security and Department of Justice), Civilian, and Other (quasi-government agencies, state & local, and commercial entities). Notes 7. Contract backlog represents the estima