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ADP Earnings Call & Webcast

Q1 Fiscal 2022

October 27, 2021

Copyright © 2021 ADP, Inc.

Forward Looking Statements

This document and other written or oral statements made from time to time by ADP may contain "forward-looking statements" within the meaning of the Private

Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could" "is designed to" and other words of similar meaning, are forward-looking statements. These statements are

based on management's expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may

cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward- looking statements or that could contribute to such difference include: ADP's success in obtaining, and retaining, clients, and selling additional services to clients; the pricing of products and services; the success of our new solutions; compliance with existing or new legislation or regulations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest rate and foreign currency trends; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; changes in technology; availability of skilled technical associates; the impact of new acquisitions and divestitures; the adequacy, effectiveness and success of our business transformation initiatives; and the impact of any uncertainties related to major natural disasters or catastrophic events, including the COVID-19 pandemic. ADP disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K, and in other written or oral statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein.

Non-GAAP Measures

Adjusted EBIT, adjusted EBIT margin, adjusted diluted earnings per share, adjusted effective tax rate, and organic constant currency are all non-GAAP financial measures. Please refer to the Q1 fiscal 2022 earnings release available at investors.adp.com for a discussion of why ADP believes these measures are important and for a reconciliation of non-GAAP financial measures to their comparable GAAP financial measures.

This presentation is a supplement to our Q1 fiscal 2022 earnings release; it is intended to be read in conjunction with, not as a substitute for, or in isolation from, the earnings release.

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Copyright © 2021 ADP, Inc.

CEO's Perspective

• Strong Q1 resulting from broad-based outperformance across the business as HCM demand accelerates
• • ES sales productivity surpassed pre-pandemic levels and reflects positive momentum for overall demand; PEO bookings accelerated significantly
  • ES and PEO retention levels remained favorable with ES reaching a new record level for a Q1
  • Robust revenue growth of 8% for ES and 15% for PEO supported strong consolidated adjusted EBIT margin expansion of 140bps
• Product enhancement momentum continues with roll-out of Run UX refresh and 7th consecutive "Top HR Product" recognition at HR Tech
• Upcoming Investor Day on November 15 to showcase ADP's strategy and commitment to long-term success

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Q1 Fiscal 2022 Financial Highlights

(unaudited)

Total Revenues

Adjusted EBIT (a)

Adjusted Diluted EPS (a)

	h 10%	h 17%	h 17%
	h 10% Organic Constant Currency (a)	Adjusted EBIT (a) Margin h 140 bps
		$3,832M		$915M		$1.65
			$1.41
	$3,471M	$781M
	Q1 FY21	Q1 FY22	Q1 FY21	Q1 FY22	Q1 FY21	Q1 FY22
(a)	For a reconciliation of these non-GAAP financial metrics to their closest comparable GAAP metrics see our Q1 fiscal 2022 earnings release available at investors.adp.com.		4

Copyright © 2021 ADP, Inc.

Q1 Fiscal 2022 Employer Services Segment Results

(unaudited)

ES Revenues	ES Margin		Q1 Highlights
h 8%	h 150 bps	•	Strong revenue growth supported by
h 8% Organic Constant Currency (a)				favorable bookings and revenue
			retention performance versus
			30.5%
$2,377M	$2,571M	29.0%		expectations
		• Sales productivity surpassed pre-
					pandemic levels, driving better-than-
Q1 FY21	Q1 FY22	Q1 FY21	Q1 FY22		expected ES new business bookings
	growth as demand for HCM
					continues to strengthen

•	U.S. pays per control h 7%	• Operating leverage from strong	•	ES revenue retention remains
•	Average client funds balances h 22%	revenue growth
	resilient and set new record Q1 level

• Average client funds yield i 40 bps

(a) For a reconciliation of this non-GAAP financial metric to its closest comparable GAAP metric see our Q1 fiscal 2022 earnings release available at investors.adp.com.	5

Copyright © 2021 ADP, Inc.