First Quarter 2017 Trading Update

Agenda

Financial Review

Regional Review

Summary and Outlook

Financial Review

Trading Performance

Reported (£m) Constant

2017 2016 % %

Q1 2017 vs Q1 2016 170.3 142.2 +19.7% +9.1%

• Gross Profit +9.1% vs Q1 2016 in constant currencies

• In reported rates, Gross Profit +19.7%, a record for the Group at £170.3m (£15.2m currency benefit)

• In constant currencies, Gross Profit was £155.1m

• Michael Page +7.1%

• Page Personnel +14.0%

• Financial position: c. £86m net cash

4

Permanent vs Temporary – Year-on-Year Gross Profit

Reported (£m) Constant

Q1 2017 2016 % %

Permanent 128.0 107.2 +19.3% +8.5%

Temporary 42.3 35.0 +20.8% +10.7%

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

• Perm : Temp ratio maintained at 75:25

• Strong performances from both permanent and temporary recruitment

• 14 countries achieved growth greater than 20% for permanent recruitment

• Michael Page Perm : Temp of 83:17

• Page Personnel Perm : Temp of 58:42

5

Discipline Overview – Year-on-Year Gross Profit

Reported (£m) Constant

Q1% of

Group2017 2016 % %

Accounting and Financial

Services38% 65.2 55.2 +17.9% +7.8%

Legal, Technology, HR, Secretarial

and Healthcare22% 37.5 32.0 +17.2% +6.2%

Engineering, Property &

Construction, Procurement &

Supply Chain

21% 35.8 27.7 +29.5% +17.8%

Marketing, Sales and Retail 19% 31.8 27.3 +16.4% +6.0%

Group Total 100% 170.3 142.2 +19.7% +9.1%

6

• Outstanding performance from our technical disciplines; Property & Construction +28% and

Engineering +25%

• Financial Services represents only 6% of the Group

Headcount and Investment

Q1 2017 Q4 2016 Movement %

Fee earners 4,809 4,711 +98 +2.1%

Support staff 1,405 1,388 +17 +1.3%

Total headcount 6,214 6,099 +115 +1.9%

Ratio 77:23 77:23

• Fee earner headcount responds to trading conditions, +62 in EMEA, -9 in the UK

• Fee earner headcount was added in our large, high potential markets, as well as where we saw

strongest growth

• Ratio of fee earner to support staff additions 85:15, making progress towards 80:20 target

• European Shared Service Centre benefits (savings c. £6m)

• Global Finance System project progressing well (costs c. £2m)

• IT transition to Cloud and European SSC on track (costs c. £2m)

7

Headcount and Reported Gross Profit

Total headcount increased 1.9% vs. Q4 2016 to 6,214 (Q4 2016: 6,099)

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Regional Review

Q1 Regional Overview - Year-on-Year Gross Profit

Reported (£m) Constant

Q1% of

Group2017 2016 % %

EMEA 46% 78.6 61.6 +27.6% +14.8%

UK 22% 36.4 36.4 -0.1% -0.1%

Asia Pacific 18% 30.8 25.9 +18.8% +3.9%

Americas 14% 24.5 18.3 +33.8% +15.2%

Group Total 100% 170.3 142.2 +19.7% +9.1%

10

• 11 countries delivered record quarters including France, Germany, Spain and the US

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

EMEA (46% of the Group) - Year-on-Year Gross Profit

Reported (£m) Constant

2017 2016 % %

Q1 2017 vs Q1 2016 78.6 61.6 +27.6% +14.8%

Headcount at 31 March 2017: 2,628 (31 December 2016: 2,553)

• Michael Page (55% of EMEA) +12%, Page Personnel (45% of EMEA) +18%

• France (15% of Group) +26%

- Michael Page (36% of France) +19%

- Page Personnel (64% of France) +29%

• Germany (7% of Group) +11%

- Michael Page (66% of Germany) +10%

- Page Personnel (34% of Germany) +12%

• A record quarter for Southern Europe +11% and strong growth in Benelux +12%

• Record performances from six countries; Austria, Belgium, France, Germany, Poland and Spain

• Middle East and Africa combined, grew 10%, Middle East +7%, Africa +14%

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United Kingdom (22% of the Group) - Year-on-Year Gross Profit

• Michael Page (78% of the UK) flat

• Page Personnel (22% of the UK) -1%

• Strong performances from our technical disciplines; Engineering +28%, Property & Construction +12%

• Financial Services (4% of the UK), Legal, Marketing and Retail were the most challenging

• London -4%, elsewhere +2%

• Private sector (88% of the UK) flat

• Public sector (12% of the UK) -2%

Reported (£m)

2017 2016 %

Q1 2017 vs Q1 2016 36.4 36.4 -0.1%

Headcount at 31 March 2017: 1,405 (31 December 2016: 1,411)

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

• Asia (13% of Group and 70% of Asia Pacific) +3.6%

• Greater China (57% of Asia) +6%

• Good growth in Mainland China +11% partially offset by Hong Kong -1%

• Investment in Nikkei business in Japan

• Strong performances from India +24% and Indonesia +50%

• Australasia (5% of Group and 30% of Asia Pacific) +4.7%

• Australia +4%, Page Personnel +8%

• New Zealand +28%

Reported (£m) Constant

2017 2016 % %

Q1 2017 vs Q1 2016 30.8 25.9 +18.8% +3.9%

Headcount at 31 March 2017: 1,238 (31 December 2016: 1,205)

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

• North America (8% of the Group and 57% of Americas) +13%

• US +16%, a record quarter

• US Fee Earner headcount increase year-on-year of 26%

• US ex. New York FS +31%, New York FS -11%

• Record quarters in Boston, Chicago and Los Angeles

• Property & Construction achieved growth >100%

• Latin America (6% of the Group and 43% of Americas) +19%

• Brazil (34% of Latin America) -3%, continues to be impacted by adverse macroeconomic factors

• Latin America ex-Brazil (66% of Latin America) +31%

• Mexico +30%

• Record quarters for Argentina, Colombia and Peru

Reported (£m) Constant

2017 2016 % %

Q1 2017 vs Q1 2016 24.5 18.3 +33.8% +15.2%

Headcount at 31 March 2017: 943 (31 December 2016: 930)

14

Summary and Outlook

Summary

Summary

• Q1 Gross Profit: +9.1% in constant currencies and +19.7% in reported rates

• Impact of FX

Q1 reported Gross Profit increased by 10.6 percentage points or c. £15m

• Majority of markets performing well

Continental Europe, Latin America (excluding Brazil), South East Asia

(excluding Singapore) and the US

• Challenging conditions in some markets

Brazil, Singapore, the UK and the New York Financial Services market

• Record Group Headcount

Headcount 6,214, +115 in Q1, of which 98 were fee earners

Ratio of fee earner to support staff additions 85:15, making progress towards

80:20 target

• Strong Financial position

c. £86m net cash

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Outlook

Summary

• Large, High-Potential Markets

US continues to diversify

Investment in LatAm excluding Brazil

Investment in South East Asia excluding Singapore

Germany focus on Page Interim and Page Personnel

Greater China focus on Mainland China

• Strong growth businesses

Continental Europe and Page Personnel

• Challenging trading conditions in some markets

Brexit uncertainty in the UK

Financial Services market in New York

Brazil expected to remain challenging but profitable

• Strategic operational support investments

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

quickly to any changes in market conditions

Outlook

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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

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

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

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

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

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

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

- North America +10.6% +21.1% +18.0% +23.5% +9.2% -1.9% -10.8% -8.4% +12.5%

-Latin America +4.2% +3.8% -4.8% -8.9% -9.8% -0.1% +9.6% +14.3% +19.2%

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