J.P. Morgan Ultimate Services Investor Conference November 15, 2016

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1 J.P. Morgan Ultimate Services Investor Conference November 15, 2016 Max Messmer Chairman and CEO Keith Waddell Vice Chairman, President and CFO

2 Company Background Originated in 1948 as boutique financial recruitment firm In 1986, acquired the business from Bob Half; it had just two employees Built corporate infrastructure, bought back franchises and opened new offices worldwide; launched new professional staffing divisions Robert Half became largest staffing firm specializing in accounting and finance positions, and premier name in professional staffing In 2002, entered risk consulting and internal audit business through formation of Protiviti with approx. 700 former employees of Arthur Andersen LLP 2

3 Awards and Recognition Most Admired Companies ( ) America s Best Large Employers (2016) Barron s 400 Index Protiviti a Best Company to Work For (2016) Best Places to Work lists around the world 3

4 Global Operations More than 400 offices in 20 countries worldwide North America Europe Middle East Asia-Pacific Canada United States South America Brazil Chile Austria Belgium France Germany Italy Luxembourg Netherlands Switzerland United Kingdom UAE Australia China India Japan New Zealand Singapore 4

5 Robert Half Revenue Mix By Geography International 21% 79% United States Q Staffing Revenues 5

6 Robert Half Revenue Mix International Percentage of Global Staffing Revenues Continental Europe 11% United Kingdom 3% Canada 3% Asia-Pacific 3% Other 1% 21% 79% International United States Q Staffing Revenues 6

7 Robert Half Revenue Mix Continental Europe Percentage of Global Staffing Revenues Germany 4% Belgium 4% France 2% Other 1% 11% Continental Europe 10% Continental Europe Q Staffing Revenues 7

8 Robert Half Revenue Mix Business Segments 2015 Global Revenue $5.1 Billion Temporary and Consulting Permanent Placement 8% 76% 16% Risk Consulting and Internal Audit Q Segment Mix 8

9 Our Brands Recruiting Specialized Staffing Project Skills Project Management and Deliverables 9

10 Robert Half Revenue Mix Staffing Brands 45% Accountemps Robert Half Management Resources 15% 24% OfficeTeam 16% Robert Half Technology Q Staffing Brand Mix 10

11 Business Strategy Value proposition: Only full-time jobs require full-time staff Clients value specialization in professional segments Middle-market accounts are smaller, less pricesensitive; clients are demanding, quality is key Internal staff possess specialized skills Protiviti provides consulting, project management, co-sourcing and outsourcing capabilities 11

12 Accounting Staffing Demand U.S. job growth for financial analysts, accountants and auditors expected to outpace national average between 2014 and 2024 * Accountants and auditors among top 15 occupations with highest projected job growth between 2014 and 2024 ** Low unemployment in many roles *** Financial managers: 1.8% Accountants and auditors: 2.4% Financial analysts: 2.9% 12 *BLS Occupational Outlook Handbook, Edition **BLS Employment Projections ***U.S. Bureau of Labor Statistics, Q3 2016

13 Technology Staffing Opportunity IT staffing market is 3-4 times larger than accounting staffing Low unemployment for IT positions * Network and computer systems administrators: 0.6% Software developers, applications and systems software: 1.6% Information security analysts: 2.6% New application development demand at middle-market companies Growing need for customized software, websites, mobile and social media 13 *U.S. Bureau of Labor Statistics, Q3 2016

14 Unique Robert Half/Protiviti Delivery Model Staffing Blended Consulting We provide world-class consulting and specialized staffing, under one roof, at an attractive price. Global and regional consulting firms that compete with Protiviti lack the flexible resource capabilities of our staffing operations. Staffing competitors lack in-house access to Big 4 consulting methodologies like those of Protiviti. 14

15 Marketing Approach Positioned as quality leader through advertising and PR activities Traditional media for broad brand awareness Radio Locally directed advertising and events Digital media for specific target audiences Search paid and natural Digital advertising and retargeting /direct marketing; social media Algorithmic digital leads generation 15

16 Marketing Approach Robert Half website Gateway to expanded digital interaction with candidates and clients Localized microsites Mobile friendly Dynamic content Optimized for natural search rankings 16

17 20-Year Revenue History Compounded Annual Growth 20 years ended 12/31/ % $5.1B Other Services Robert Half F&A/ Accountemps

18 20-Year Cash Flow From Operations Compounded Annual Growth 20 years ended 12/31/ % $438.2M

19 Return on Equity (20-Year Average & Q3 2016) 33.5% 24.0% 20-Year Average* Q *Through September 30, 2016

20 Recent Operating Performance Q results reflect continued solid demand for our professional staffing and consulting services. Accountemps, Robert Half Management Resources and Protiviti reported strongest year-over-year revenue gains. Unemployment levels in professional occupations remain low, reflecting widening skills gap. International operations posted strong results. 20

21 Temporary and Consulting Revenue ($ in Billions) (2000 Q3 2016) YTD % growth y/y $3.6 $3.6 (same-day, constant-currency) $2.4 $2.3 $1.8 $1.7 $2.2 $2.6 $3.1 $2.5 $2.6 $3.1 $3.3 $3.4 $3.7 $3.9 $2.9 $ YTD 2015 YTD 2016 YTD period is the 9-month period ended September 30 21

22 Temporary and Consulting Gross Margin % (2000 Q3 2016) 37.1% 36.6% 35.6% 36.0% 36.5%37.0% 37.2% 36.7% 34.9% 35.2% 36.0% 36.2% 36.6% 37.2% 37.3%37.4% 34.1%34.1% YTD 2015 YTD period is the 9-month period ended September 30 YTD

23 Temporary and Consulting SG&A % (2000 Q3 2016) 32.9%32.7% 27.6% 28.9% 29.8%29.9% 29.0% 28.3% 27.7%27.3%26.8% 27.0%26.9%27.0%27.1% 27.1% 26.9% 27.5% YTD 2015 YTD period is the 9-month period ended September 30 YTD

24 Temporary and Consulting Operating Income % (2000 Q3 2016) 9.5% 7.6% 6.9% 9.5% 10.0%10.2% 9.6% 6.9% 8.3% 8.9% 9.8% 10.2% 10.3% 9.9% 4.2% 4.2% 2.7% 2.2% YTD 2015 YTD period is the 9-month period ended September 30 YTD

25 Permanent Placement Revenue ($ in Millions) (2000 Q3 2016) YTD % growth y/y (same-day, constant-currency) $444 $427 $395 $421 $336 $302 $334 $348 $320 $325 $252 $189 $219 $182 $221 $136 $100 $ YTD 2015 YTD 2016 YTD period is the 9-month period ended September 30 25

26 Permanent Placement Revenue Mix (2000 Q3 2016) 10.8% 10.5% 9.4% 9.7% 9.0% 9.1% 9.4% 9.7% 9.7% 9.9% 9.6% 7.7% 7.7% 6.9% 7.9% 5.4% 5.1% 5.8% YTD 2015 YTD 2016 YTD period is the 9-month period ended September 30 26

27 Permanent Placement SG&A % (2000 Q3 2016) 74.7% 89.2% 106.8% 97.3% 87.5% 85.8% 79.7% 80.6% 77.8% 103.7% 92.0% 88.2% 83.3%84.3% 80.1%79.7% 78.7%79.4% YTD 2015 YTD period is the 9-month period ended September 30 YTD

28 Permanent Placement Operating Income % (2000 Q3 2016) 25.3% 10.8% 12.5% 22.2% 20.3% 19.4% 14.1% 7.9% 11.7% 16.7% 15.6% 19.9% 20.2% 21.1% 20.4% 2.7% YTD % YTD period is the 9-month period ended September % YTD 2016

29 Protiviti Revenue ($ in Millions) (2004 Q3 2016) YTD % growth y/y (same-day, constant-currency) $743 $352 $479 $543 $552 $547 $384 $386 $424 $453 $528 $624 $548 $ YTD 2015 YTD 2016 YTD period is the 9-month period ended September 30 29

30 Protiviti Gross Margin % (2004 Q3 2016) 37.8% 39.8% 36.6% 31.6% 28.3% 20.8% 25.2% 26.8% 25.9% 29.3% 29.4% 31.0% 30.6% 28.9% YTD 2015 YTD 2016 YTD period is the 9-month period ended September 30 30

31 Protiviti SG&A % (2004 Q3 2016) 19.9% 21.6% 25.5% 27.8% 26.9% 28.9% 28.1% 25.6% 23.5% 21.2% 19.7% 18.1% 18.1% 18.9% YTD 2015 YTD 2016 YTD period is the 9-month period ended September 30 31

32 Protiviti Operating Income % (2004 Q3 2016) 17.9% 18.1% 11.2% 3.8% 1.3% 1.2% 2.4% 8.1% 9.7% 12.9% 12.5% 10.0% YTD -8.0% -2.8% 2015 YTD period is the 9-month period ended September 30 YTD

33 Strong Financial Position As of 9/30/16 Cash Total assets Virtually no debt $292 million $1.9 billion 33

34 Cash Returned to Shareholders ($ Millions) 1 Year 5 Years Dividends $108 32% $459 37% Share Repurchases % % Total $ % $1, % Free Cash Flow $320* $1,193* 34 Amounts shown are through Dec. 31, 2015 *Cash flow from operations net of cash used for investing activities

35 Robert Half Quarterly Dividend History Since Inception Compound Annual Growth Rate 10.9% $0.18 $0.20 $0.22 $0.16 $0.15 $0.10 $0.11 $0.12 $0.13 $0.14 $0.07 $0.06 $ May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov Feb May Aug Feb May Aug Nov Feb May Aug Nov Feb May Aug Nov

36 Share Count Reduction 9/30/2016 Shares (millions) % 3 years % 5 years % 10 years % 36

37 Market Opportunity Staffing Services Annual global revenues for staffing industry approximately $400B USD High number of U.S. job openings in professional/business services * Employment services among the 10 U.S. industries expected to add the most jobs through 2024 ** Long-term demographics war for talent Temp penetration near all-time high We work with less than 10 percent of target prospects *BLS JOLTS report, November 2016 **BLS Employment Projections

38 Market Opportunity Protiviti Solid base of recurring internal audit and financial controls demand PCAOB audit inspections Growing suite of consulting services Financial services regulatory risk and compliance Technology privacy, security and controls Protiviti/staffing blended solutions 38

39 Thank You

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