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Randstad North America

Gregory A Netland December 1, 2011 Analyst & Investor days 2011

Analyst & Investor days 2011 2

disclaimer

Certain statements in this document concern prognoses about the future financial condition, risks, investment plans and the results of operations of Randstad Holding and its operating companies as well as certain plans and objectives. Obviously, such prognoses involve risks and a degree of uncertainty since they concern future events and depend on circumstances that will apply then. Many factors may contribute to the actual results and developments differing from the prognoses made in this document. These factors include, but are not limited to, general economic conditions, a shortage on the job market, changes in the demand for (flexible) personnel, changes in legislation (particularly in relation to employment, staffing and tax laws), the role of industry regulators, future currency and interest fluctuations, our ability to identify relevant risks and mitigate their impact, the availability of credit on financially acceptable terms, the successful completion of company acquisitions and their subsequent integration, successful disposals of companies and the rate of technological developments. These prognoses therefore apply only on the date on which this document was compiled. Quarterly figures and underlying figures are unaudited.

December 1, 2011

US Staffing market


SFN Group acquisition and integration update

agenda

December 1, 2011 Analyst & Investor days 2011 3

December 2, 2011 analyst & investor days 2011 4

US Staffing market

overview US market

-30%

-20%

-10%

0%

10%

20%

30%

40

50

60

70

80

90

100

110

120

130

140

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 E

Total market Market growth


Recovery pattern continues to follow a classical pattern Share of Professionals continues to increase

Source: BLS data

share of Professionals significantly increased

Based upon Staffing Industry Analysts 2010 Contingent Buyer Survey, employers expect to increase their contingent workforce by 50% over the next two years.

Temp Volume Tracks GDP; Penetration May Expand

Large Staffing Market Shifting to Professional Skills

Shift to Professional Professional

Staffing

48% General Staffing

52%

Professional Staffing


42%

1995 Staffing Market

$50.2 billion

2010 Staffing Market

$90.6 billion

Historical High 2.03%

Temp Employment (000’s)

Temp Penetration

Temp Employment 20% Below Historical High



61%



48%

Peak Professional

mix 58% in

2008 & 2009

General Staffing

48%


52%


penetration rate moving up again


In 2010: penetration rate soared from 1.5% to 1.7% 1/3 of all jobs gained via temporary services

Outsourcing of HR tasks and need for flexibility have been important drivers Penetration rate increased to 1.8% in October 2011 Penetration rate in US still below European average

unemployment gradually reduced over time availability of candidates opportunity for Randstad Staffing & Professionals

Source: Bureau of Labor Statistics & Staffing Industry Analysts December 1, 2011 Analyst & Investor days 2011 8

unemployment gradually reduced over time, but still at a high level around 13.9 million workers involved unemployment in higher educated profiles significantly lower job creation continued, especially in (higher) skilled labor segments currently 2,200 vacancies online on our website

Greg Netland EB Member

Randstad US Professionals

Daniel J Foley President

Randstad US Staffing Linda Galipeau

President

Randstad Mexico Alejandro Alvarez Blanco

Managing Director

Randstad Canada Jan Hein Bax

Managing Director

US Shared Services Ron Fuccillo CFO, SVP

organization structure Randstad North America


Randstad’s profile in North America

Continued strong performance in US and Canada

(LTM*) revenues of $2,886M with an EBITA-margin of 4.0%

Balanced portfolio of services covering a broad range of the market

leading positions in staffing & professionals segments

leader in RPO and larger scale in MSP through acquisition SFN

We work from 1,100 offices with around 6,500 corporate staff

Each week we have around 100,000 employees working


Revenues LTM*: $ 2,886M

* last 12 months to 30 September 2011, SFN included since September 2, 2011

Analyst & Investor days 2011 December 1, 2011 11

51% 40%

9%

Revenue categories

Staffing & Inhouse Professionals HR Solutions

82%

18%

Geographic split

USA Canada

Randstad USA

Commercial HR Solutions Professional

IT Randstad

B2B Workforce Sapphire Solutions

Technisource

Engineering Randstad

Healthcare

Randstad Clinical One

Locum Medical

Acct/Finance Randstad

Mergis Tatum

HR

Randstad

Master Service Provider (MSP)

RMS RMS

RPO

SourceRight RMS

Payrolling

RMS RMS

HR Consulting

RMS SourceRight

RMS Outplacement

Staffing Randstad

Placement Pros Today’s Office

Spherion

Vendor on Premise (VOP)

Randstad In-house (RIS) Randstad Corporate (RCS) Spherion Master Vendor

Payrolling

Corporate Accounts

Corporate Recruiting NDEC & NRC

group sales

Shared Service Center Tax, Treasury, Risk, Benefits, IAD, RFP’s

Corporate Service Center HR, Marketing, IT (FE/BE/ON), FR, Risk, IP

Pay-bill, Benefits & Collections

Field Service Center HR, Marketing, IT (BE), FR, Risk, IP

Pay-bill, Benefits & Collections

group sales

December 1, 2011 12 Analyst & Investor days 2011

group sales

Randstad Canada

Randstad entered Canada in 1997

#1 HR Services provider in Canada

Randstad and SFN operate from 85 branches across 8 provinces with over 800 FTE

Strong performance throughout 2011

* last 12 months to 30 September 2011, SFN included since September 2, 2011


94%

5% 1%

Payrolling RPO RMS

54% 46%

Blue collar White Collar

79%

17%

2% 2%

IT Engineering F&A Other

56% 35%

9%

Professionals Staffing&Inhouse HRS

Staffing Services Professional Services HRS (incl. RPO/MSP) Randstad Canada

LTM* $ 533M

classical recovery pattern continues in North America


Classical recovery pattern in US and Canada maintained

Growth trend in early-cyclical Staffing & Inhouse impacted by comparison base and

reinforced focus on client profitability

Continued strong growth in Professionals, especially in IT and Engineering

Solid performance in Canada maintained

-30%

-20%

-10%

0%

10%

20%

30%

40%

Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011

US Staffing US Professionals Canada


SFN Group Acquisition & integration update

strong concepts best people excellent execution superior brands

need for flexibility

demographics

deregulation

clients looking for total offering

no. 3 position in US

leading positions in Staffing &

Professionals segments

efficiency improvements and other cost synergies

sharing of best practices

leverage ratio expected to remain below 2 by the end of the year

acquisition SFN Group creates unique strategic fit

EBITA-margin targets

continuous market share gains

sound financial position

the acquisition of SFN Group offers Randstad

leader in RPO; scale MSP

increased density

cross-sell opportunities

16 Analyst & Investor days 2011 December 1, 2011

strategic rationale for SFN acquisition the combination creates the #3 in US providing scope for further growth

number 2 player in

clerical segment

top-5 in light

industrial segment

increased density in

staffing network

Staffing Services Share of group: 52%

Professional Services Share of group: 39%

HRS (incl. RPO/MSP) Share of group: 9%

number 2 player in

IT segment

number 3 in Finance

& Accounting

leader in RPO

enhanced platform for

growth in MSP

HRS 10%

52%

39% HRS9%

Combination

Pro forma revenue $ 4.5bn

39% 9% Professionals

Staffing & Inhouse

comparable service

offerings

enhanced geographic

coverage

reinforcement market

leadership in Canada

52% 39%

17 December 1, 2011 Analyst & Investor days 2011

SFN Family of Specialized Businesses

Professional Services General Staffing


SFN Group business profile

Outsourced talent solutions

Business description Executive services

Professional recruiting and staffing

General staffing Technology staffing and solutions

Skills

Profile

2010 Revenue

2010 Revenue Mix

All skills RPO MSP ICC

$ 200M $ 90M $ 200M $ 1100M $ 500M

Finance Technology

Technology Finance Administration Legal HR

Clerical Light Industrial Customer service

68% 4%

28%

Payrolling

MSP

RPO

20,500 end-to-end hires Top 10 MSP provider Fortune 500 customer base

Largest executive service provider 325+ billable employees Average bill rate $ 190/hour

6th largest IT company 4,400+ billable consultants 66 locations across US

Leading specialty staffing company 3,500+ billable employees Retail focus Perm mix 10%

4th largest admin staffing company 44,000+ billable employees Mid-size and SMB target market

15%

85%

CIO office

CFO office

22%

78%

Solutions

Staffing & recruiting

7%

27% 52%

5%

9%

Administration

Accounting

Legal

HR

Other

45% 55%

Light Industrial

Clerical

19 December 1, 2011 Analyst & Investor days 2011

Industry leading positions

Outsourced Talent Solutions Higher Margin Services

Central Recruiting & Social Media Variable Cost for Sourcing and Delivery


Industry leading positions

Employment Trends and Attitudes Increased Loyalty of Candidates and Clients

3,774,14

4,6

0

1

2

3

4

5

Industry Average SFN Clients SFN Candidates

Our Satisfaction Survey Results The Ultimate Question…

Would you recommend us?

600,000 Clients & Candidates Surveyed


Service Excellence Quality differentiator

http://thebestsellers.tv/�

1,50

1,60

1,70

1,80

1,90

2,00

2,10

2,20

2,30

15%

20%

25%

30%

35%

40%

45%

50%

55%

60%

2002 2003 2004 2005 2006 2007 2008 2009 2010

% of SFN Revenue from Professional Services

Revenue ($ bn) % Professionals of Group revenue

SFN Group: building a different profile

2007 – Technisource, Todays and Resulte

Acquired

2010 – Tatum Acquired

2007 – Mergis Group Established

2009 – SourceRight Solutions Established

2001 – Recruitment Outsourcing

Business Established


23

SFN Group in Q3 2011 well on its way to improve operational performance

• SFN Group growth in line with Q2 2011 - organic revenue growth amounted to -1% in Q3 2011 - EBITA margin up to 3.8% vs 2.7% LY

• Staffing down 1% YoY - focus on client profitability - EBITA margin up to 2.1% vs 1.7% LY

• Professionals +2% YoY - IT & Finance main drivers - strong growth of perm placement fees - EBITA margin amounted to 5.7% vs 3.6% LY

• HRS: improved mix - growth impacted by ending of payroll contracts - strong growth in RPO & MSP businesses - EBITA up to 5.8% vs 4.5% LY

Analyst & Investor days 2011 December 1, 2011

9%

52%

39%

sector performance Q3 2011

breakdown SFN Group revenues Q3 2011

52% 39%

9%

Staffing & Inhouse Professionals HR Solutions

EBITA margin expansion SFN Group

0,0%

0,5%

1,0%

1,5%

2,0%

2,5%

3,0%

3,5%

2007 2008 2009 Q1 10

Q2 10

Q3 10

Q4 10

Q1 11

Q2 11

Q3 11

EBITA margin LTM

Integration update: better together!

Staffing

Back office

Top Management up to branch management appointed

Joint sales approach

Integration process on track

First branch conversion as from January 1, 2012

Franchise business strategy developed

Professionals

$30M

$10M


Top management appointed

Joint sales approach established

Integration plan in progress and on track: IT, Finance and HR Solutions as key business lines

SFN central backoffice split into Staffing and Professionals Randstad Professionals backoffice moves to SFN’s Professionals backoffice SFN Staffing backoffice to be integrated into Randstad Staffing

Functional groups reporting to country CFO (IT, pay/bill, F&A, legal)

HR and marketing allocated to Staffing or Professionals

Tax, Treasury, Benefits, Insurance integrated into Shared Services

significant synergies identified

Corporate HQ

Tax savings

overlapping HQ functions

Efficiency improvements

Marketing & IT

field optimization

productivity gains

based on Randstad’s unique

financing and tax structure

Tax savings

Cost synergies

at least $30M

$10M

annual synergies


scope for upside potential

Staffing & Inhouse

Professionals

HRS

sharing of best practices from both companies

enhance top line growth:

provides higher competitiveness

cross-selling opportunities

well-positioned for clients looking for total offering

upside potential of Randstad’s Inhouse concept

leveraging operating models across both

companies

platform for growth in managed services

across all segments

26 Randstad to acquire SFN Group - creating a leading player in the HR services industry in North America

Thank you

Questions?

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