Q4 2017 and Full Year Trading Update

Agenda

Financial Review • Regional Review • Summary and Outlook

Financial Review

Trading Performance – Year-on-Year Gross Profit

• In reported rates Q4 Gross Profit +11.7%, a record quarter for the Group at £182.4m

• In constant currencies Q4 Gross Profit +13.8%

- Michael Page +12.8%

- Page Personnel +16.3%

• Financial position: c. £91m net cash (December 2016: £93m)

- Interim and special dividends totaling £52.3m were paid on 11 October 2017

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Reported (£m) Constant

2017 2016 % %

Q4 2017 vs. Q4 2016 182.4 163.3 +11.7% +13.8%

FY 2017 vs. FY 2016 711.6 621.0 +14.6% +9.9%

Foreign Exchange

£m Reported

Q1 Q2 Q3 Q4 FY

Gross Profit +15 +13 +5 -4 +29

Operating Profit +3 +3 +1 -1 +6

• Negative impact from foreign exchange in Q4 reported results is c. -£4m of Gross Profit and

c. -£1m of Operating Profit

• Full year, total impact is c. +£29m of Gross Profit and c. +£6m of Operating Profit

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Permanent vs Temporary – Year-on-Year Gross Profit

• Perm : Temp ratio 75:25 (Michael Page 83:17; Page Personnel 55:45)

• Performance in temporary recruitment marginally stronger than permanent

• Temporary recruitment emerging in parts of Asia and Latin America

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Reported (£m) Constant

Q4 2017 2016 % %

Permanent 136.1 122.5 +11.1% +13.6%

Temporary 46.3 40.8 +13.6% +14.4%

Ratio (Perm : Temp) 75:25 75:25

FY

Permanent 536.4 470.0 +14.1% +9.5%

Temporary 175.2 151.0 +16.0% +10.9%

Ratio (Perm : Temp) 75:25 76:24

Discipline Overview – Year-on-Year Gross Profit

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• Non Accounting and Financial Services at record high at 63% of Group

• Property & Construction +37% and Engineering +32%

Reported (£m) Constant

Q4% of

Group2017 2016 % %

Accounting and Financial

Services37% 67.6 61.9 +9.2% +11.1%

Engineering, Property &

Construction, Procurement &

Supply Chain

23% 41.9 33.8 +23.9% +25.7%

Legal, Technology, HR, Secretarial

and Healthcare23% 41.2 36.7 +12.4% +15.1%

Marketing, Sales and Retail 17% 31.7 30.9 +2.6% +4.8%

Group Total 100% 182.4 163.3 +11.7% +13.8%

Headcount Investment

• Q4 increase in fee earners of 220 (+4.2%) and increase in total headcount of 279 (+4.1%)

• Full year increase in fee earners of 786, up 16.7%

• Fee earner headcount investment in our Large, High Potential and strong growth markets

• Record ratio 78:22 of fee earners to operational support staff

• Full year additions ratio 85:15 of fee earner to operational support staff

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Q4 2017 Q4 2016 Movement %

Fee earners 5,497 4,711 +786 +16.7%

Support staff 1,532 1,388 +144 +10.4%

Total headcount 7,029 6,099 +930 +15.2%

Ratio 78:22 77:23 85:15

Headcount and Reported Gross Profit

Q4 total headcount increased 4.1% vs. Q3 2017 to 7,029 (Q3 2017: 6,750)

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Headcount and Reported Gross Profit – Full Year

Record Gross Profit of £711.6m

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Regional Review

Regional Overview – Year-on-Year Gross Profit

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• Record quarters in 9 countries including Belgium, France, Germany, Japan and Mexico

• 12 countries achieved year-on-year growth of over 20%; 21 over 10%

Reported (£m) Constant

Q4% of

Group2017 2016 % %

EMEA 50% 90.9 75.9 +19.7% +19.3%

Asia Pacific 18% 33.5 30.9 +8.4% +14.9%

UK 18% 32.9 33.8 -2.8% -2.8%

Americas 14% 25.1 22.7 +11.0% +18.8%

Group Total 100% 182.4 163.3 +11.7% +13.8%

Full Year Regional Overview – Year-on-Year Gross Profit

Reported (£m) Constant

FY% of

Group2017 2016 % %

EMEA 47% 332.3 271.9 +22.2% +15.0%

UK 20% 140.8 146.3 -3.8% -3.8%

Asia Pacific 19% 137.2 119.7 +14.6% +10.2%

Americas 14% 101.3 83.1 +21.9% +16.4%

Group Total 100% 711.6 621.0 +14.6% +9.9%

• 22 countries delivered record years, including France, Germany, Greater China and the US

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EMEA (50% of the Group) – Year-on-Year Gross Profit

Q4

• Michael Page (55% of EMEA) +20%, Page Personnel (45% of EMEA) +19%

• France (17% of Group) +28%

• Germany (7% of Group) +14%

• Spain (5% of Group) +11%, challenging conditions in Catalonia

• Record quarter for region and 4 countries including France and Germany

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Reported (£m) Constant

2017 2016 % %

Q4 2017 vs. Q4 2016 90.9 75.9 +19.7% +19.3%

FY 2017 vs. FY 2016 332.3 271.9 +22.2% +15.0%

Headcount at 31 December 2017: 2,996 (30 September 2017: 2,854)

Asia Pacific (18% of the Group) – Year-on-Year Gross Profit

Q4

• Asia (14% of Group and 74% of Asia Pacific) +21%

• Greater China (8% of Group and 58% of Asia) +15%

• Strong performance in Mainland China +23%

• A record quarter for Japan +41%

• South East Asia +27%; Singapore +33%

• Australasia (4% of Group and 26% of Asia Pacific) +1%

• Return to growth in Australia +2%

• New office in Canberra15

Reported (£m) Constant

2017 2016 % %

Q4 2017 vs. Q4 2016 33.5 30.9 +8.4% +14.9%

FY 2017 vs. FY 2016 137.2 119.7 +14.6% +10.2%

Headcount at 31 December 2017: 1,532 (30 September 2017: 1,438)

United Kingdom (18% of the Group) – Year-on-Year Gross Profit

Q4

• Improvement on prior quarter (Q3: -7.6%)

• Michael Page (77% of the UK) -3%

• Page Personnel (23% of the UK) -2%

• Office Support +12%, Property & Construction +9%, Technology +5%

• Private sector (87% of the UK) -2%

• Public sector (13% of the UK) -10%

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Reported (£m)

2017 2016 %

Q4 2017 vs. Q4 2016 32.9 33.8 -2.8%

FY 2017 vs. FY 2016 140.8 146.3 -3.8%

Headcount at 31 December 2017: 1,407 (30 September 2017: 1,407)

Americas (14% of the Group) – Year-on-Year Gross Profit

Q4

• North America (8% of the Group and 54% of Americas) +19%

• US +21%, strong growth in Chicago, Houston and Los Angeles

• Strong performances from Property & Construction and Marketing disciplines

• Latin America (6% of the Group and 46% of Americas) +19%

• Record performances from Argentina, Mexico and Peru

• Brazil (33% of Latin America) +14%

• All countries had double digit growth in the quarter

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Reported (£m) Constant

2017 2016 % %

Q4 2017 vs. Q4 2016 25.1 22.7 +11.0% +18.8%

FY 2017 vs. FY 2016 101.3 83.1 +21.9% +16.4%

Headcount at 31 December 2017: 1,094 (30 September 2017: 1,051)

2017 Digital Summary

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Engagement on Social Media

Driving Candidate Acquisition Converting Traffic to Applications

Increasing Mobile Traffic

• Our technology & digital strategy will be outlined further at our full year results presentation

100m+content views

15mapplications

+6.4% Y-o-Y

36%visits on mobile

+17.5% Y-o-Y

49muser visits

Summary and Outlook

Summary

Summary

• Q4 Gross Profit: +13.8% in constant currency and +11.7% in reported rates

• Majority of markets performing well

France, Germany, Greater China and the US, collectively +21%

• Improvements in challenging markets

UK, Australia, Brazil and Singapore

• Record Group Headcount and Fee Earners

Headcount investment 220 fee earners in Q4 and 786 in 2017

• Financial position: c. £91m net cash

Interim and special dividends of £52.3m were paid on 11 October

• Full year operating profit is expected to be ahead of consensus, but within the range of current market

forecasts

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Outlook

Summary

• Large, High Potential Markets

US continues to diversify

Investment in Latin America

Investment in South East Asia

Greater China increased focus on domestic clients

Germany investing in Temporary and Contracting

• Strong growth businesses

Continental Europe

India and the Nikkei market in Japan

• Challenging trading conditions in some markets

Brexit and political uncertainty in the UK

Australia: looking to capitalise on fee earner investment +25% in the year, new office in Canberra

Brazil expected to remain challenging, but improving

• Continue to focus on driving profitable growth, whilst remaining able to respond quickly to any

changes in market conditions

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Our Latest Awards

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Cautionary Statement

This presentation contains certain statements that are neither reported financial results nor other historical

information. The information contained in this presentation is not audited, is for personal use and informational

purposes only and is not intended for distribution to, or use by, any person or entity in any jurisdiction in any

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or implied, is or will be made in relation to the accuracy, fairness or completeness of the information or opinions

made in this presentation.

Certain statements included or incorporated by reference within this presentation may constitute “forward-looking

statements” that are based on current expectations or beliefs, as well as assumptions about future events. There

are risk factors that can cause actual results to differ materially from those expressed in or implied by such

statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance

should not be placed on any forward-looking statement.

PageGroup plc disclaims any intention or obligation to revise or update any forward-looking statements that may

be made in this presentation, regardless of whether those statements are affected as a result of new information,

future events or otherwise. Nothing in this presentation should be construed as a profit forecast.

This presentation does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to

purchase any shares in PageGroup plc, nor shall it or any part of it or the fact of its distribution form the basis of,

or be relied on in connection with, any contract or commitment or investment decision relating thereto, nor does it

constitute a recommendation regarding the shares of PageGroup plc. Past performance cannot be relied upon as

a guide to future performance. Liability arising from anything in this presentation shall be governed by English

Law. Nothing in this presentation shall exclude any liability under applicable laws that cannot be excluded in

accordance with such laws.

Year-on-Year Gross Profit Growth Rates

2015 2016 2017

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

EMEA +12.1% +11.4% +13.0% +10.6% +10.3% +13.6% +10.4% +12.4% +14.8% +13.2% +12.6% +19.3%

Asia Pacific +10.8% +5.6% +5.3% -1.3% -2.0% -3.3% -4.7% +1.7% +3.9% +6.8% +13.9% +14.9%

-Asia +14.1% +8.8% +9.2% +2.4% -1.5% -6.9% -7.9% -0.5% +3.6% +10.2% +21.9% +20.8%

- Australasia +3.9% -1.8% -2.3% -9.3% -3.0% +6.6% +3.9% +8.1% +4.7% -1.5% -4.4% +0.7%

UK +11.3% +12.8% +12.5% +2.4% +0.0% -2.3% -4.7% -6.7% -0.1% -4.5% -7.6% -2.8%

Americas +7.1% +11.5% +5.3% +5.7% -0.6% -1.1% -2.0% +0.9% +15.2% +13.8% +18.4% +18.8%

- North

America+10.6% +21.1% +18.0% +23.5% +9.2% -1.9% -10.8% -8.4% +12.5% +14.6% +26.5% +18.7%

-Latin

America+4.2% +3.8% -4.8% -8.9% -9.8% -0.1% +9.6% +14.3% +19.2% +12.8% +9.1% +19.0%

Group Total +10.9% +10.6% +10.0% +5.5% +3.6% +3.7% +1.3% +3.8% +9.1% +7.7% +8.8% +13.8%