Q3 2016 Trading Update

Agenda

Financial Review

Regional Review

Summary and Outlook

Financial Review

Trading Performance – Year-on-Year Gross Profit

• Q3 Gross Profit +1.3% vs. Q3 2015 in constant currency

• In reported rates Q3 Gross Profit +14.1%, a record for the Group at £158.6m

• In constant currency, Q3 Gross Profit was £140.8m (-£17.8m on reported rates)

• Financial position: c. £100m net cash

• Interim and Special dividends totalling £31.7m to be paid on 12 October

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Reported (£m) Constant

2016 2015 % %

Q3 2016 vs. Q3 2015 158.6 139.1 +14.1% +1.3%

Permanent vs Temporary – Year-on-Year Gross Profit

Reported (£m) Constant

Q3 2016 2015 % %

Permanent 119.5 105.1 +13.8% +1.0%

Temporary 39.1 34.0 +14.9% +2.0%

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

• Perm : Temp ratio down slightly to 75:25

• Excluding the UK, permanent recruitment grew 3% and temporary grew 7%

• Slower growth in permanent recruitment reflects economic conditions in the majority of our

regions

• Higher growth in Page Personnel decreased the ratio

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Discipline Overview – Year-on-Year Gross Profit

Reported (£m) Constant

Q3% of

Group2016 2015 % %

Finance & Accounting 39% 61.3 55.6 +10.4% -1.3%

Legal, Technology, HR, Secretarial

and Healthcare22% 35.3 30.6 +15.4% +1.3%

Engineering, Property &

Construction, Procurement &

Supply Chain

20% 32.2 25.8 +24.5% +10.3%

Marketing, Sales and Retail 19% 29.8 27.1 +10.2% -2.0%

Group Total 100% 158.6 139.1 +14.1% +1.3%

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Headcount

Q3 2016 Q2 2016 Movement %

Fee earners 4,661 4,529 132 +2.9%

Support staff 1,391 1,390 1 +0.1%

Total headcount 6,052 5,919 133 +2.2%

Ratio 77:23 77:23

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

opportunities for growth

• Support staff total remains flat as we continue our focus on improving the conversion rate

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Headcount and Reported Gross Profit

Total headcount increased 2.2% vs. Q2 2016 to 6,052 (Q2 2016: 5,919)

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Regional Review

Regional Overview – Year-on-Year Gross Profit

Reported (£m) Constant

Q3% of

Group2016 2015 % %

EMEA 42% 66.8 51.6 +29.4% +10.4%

UK 24% 37.8 39.7 -4.7% -4.7%

Asia Pacific 20% 32.3 28.3 +14.1% -4.7%

Americas 14% 21.7 19.5 +11.8% -2.0%

Group Total 100% 158.6 139.1 +14.1% +1.3%

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EMEA (42% of the Group) – Year-on-Year Gross Profit

• Michael Page (55% of EMEA) +8%, Page Personnel (45% of EMEA) +13%

• France (13% of Group) +4%

- Page Personnel (65% of France) +6%

- Michael Page (35% of France) flat

• Germany (7% of Group) +16%

- Michael Page (62% of Germany) +11%

- Page Personnel (38% of Germany) +24%

• Strong growth in Benelux +20% and Southern Europe +14%

• Middle East & Africa (2% of Group) -2%

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Reported (£m) Constant

2016 2015 % %

Q3 2016 vs. Q3 2015 66.8 51.6 +29.4% +10.4%

Headcount at 30 September 2016: 2,486 (30 June 2016: 2,427)

United Kingdom (24% of the Group) – Year-on-Year Gross Profit

• Michael Page (78% of the UK) -5%

• Page Personnel (22% of the UK) -3%

• Technology our best performing discipline +22%

• Financial Services (4% of the UK) -14%

• Private sector (88% of the UK) -4%

• Public sector (12% of the UK) -9%

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Reported (£m)

2016 2015 %

Q3 2016 vs. Q3 2015 37.8 39.7 -4.7%

Headcount at 30 September 2016: 1,449 (30 June 2016: 1,466)

Asia Pacific (20% of the Group) – Year-on-Year Gross Profit

• Asia (14% of Group and 69% of Asia Pacific) -8%

• Greater China (61% of Asia) -6%

• Mainland China (35% of Asia) +1%

• Record quarters in India and Indonesia, combined +20%

• Australasia (6% of Group and 31% of Asia Pacific) +4%

• Australia +2%; Page Personnel +12%

• Record quarter for New Zealand +35%

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Reported (£m) Constant

2016 2015 % %

Q3 2016 vs. Q3 2015 32.3 28.3 +14.1% -4.7%

Headcount at 30 September 2016: 1,220 (30 June 2016: 1,176)

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

• North America (7% of the Group and 53% of Americas) -11%

• US -11%, challenging NYC Financial Services market (-41%) offset growth elsewhere of +13%

• Continuing to develop wider market presence, with good growth in Boston, Houston, Los Angeles, New

Jersey and Philadelphia

• Latin America (7% of the Group and 47% of Americas) +10%

• Brazil (35% of Latin America) -12%, continues to be impacted by adverse macro-economic factors

• Latin America ex-Brazil (65% of Latin America) +23%, a record quarter

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Reported (£m) Constant

2016 2015 % %

Q3 2016 vs. Q3 2015 21.7 19.5 +11.8% -2.0%

Headcount at 30 September 2016: 897 (30 June 2016: 850)

Summary and Outlook

Summary

Summary

• Q3 Gross Profit: +1.3% in constant currency and +14.1% in reported rates

• Impact of FX

Q3 reported Gross Profit increased by 12.8 percentage points or c. £17.8m

• Many markets performing well

Continental Europe and most of Latin America

• Some markets experiencing challenging conditions

Brazil, Hong Kong, the UK and the Financial Services market in New York

• Record Group Headcount and Fee Earners

Headcount +133 in Q3, of which 132 were fee earners

• Financial position: c. £100m net cash

Interim and Special dividends of £31.7m to be paid on 12 October

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Outlook

Summary

• Trading conditions anticipated to remain challenging in the short term

Post UK referendum uncertainty in the UK

Continental Europe remains strong

Financial Services market in New York particularly tough (overall Financial Services

represents only 6% of the Group)

Brazil expected to remain challenging but profitable

Asia continues to be impacted by confidence levels in Greater China

• Ongoing focus on conversion rates and productivity

Continue to progress strategic projects

Take advantage of growth markets

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

quickly to any changes in market conditions

• Save for any further movements in foreign exchange, the Board’s expectations for

the full year remain unchanged

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

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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

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accordance with such laws.

Year-on-Year Gross Profit Growth Rates

2014 2015 2016

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

EMEA +5.7% +5.1% +11.2% +12.5% +12.1% +11.4% +13.0% +10.6% +10.3% +13.6% +10.4%

UK +8.1% +11.1% +13.7% +11.0% +11.3% +12.8% +12.5% +2.4% +0.0% -2.3% -4.7%

Asia Pacific +1.3% +14.2% +11.1% +10.8% +10.8% +5.6% +5.3% -1.3% -2.0% -3.3% -4.7%

-Asia +8.0% +25.0% +16.5% +15.0% +14.1% +8.8% +9.2% +2.4% -1.5% -6.9% -7.9%

- Australasia -9.5% -2.9% +1.7% +2.7% +3.9% -1.8% -2.3% -9.3% -3.0% +6.6% +3.9%

Americas +16.2% +8.5% +9.6% +20.2% +7.1% +11.5% +5.3% +5.7% -0.6% -1.1% -2.0%

- North

America+30.5% +15.5% +22.3% +20.3% +10.6% +21.1% +18.0% +23.5% +9.2% -1.9% -10.8%

-Latin America +7.4% +4.2% +1.5% +19.9% +4.2% +3.8% -4.8% -8.9% -9.8% -0.1% +9.6%

Group Total +6.8% +8.9% +11.6% +12.9% +10.9% +10.6% +10.0% +5.5% +3.6% +3.7% +1.3%