ManpowerGroup

First Quarter

Results

April 20, 2021

FORWARD-LOOKING STATEMENT

This presentation contains statements, including statements regarding economic uncertainty, the global recovery, financial outlook, the Company's strategic initiatives and technology investments and its positioning for future growth, as well the potential impacts of the COVID-19 pandemic and the Company's efforts to respond to such impacts, that are forward-looking in nature and, accordingly, are subject to risks and uncertainties regarding the Company's expected future results. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2020, which information is incorporated herein by reference.

The Company assumes no obligation to update or revise any forward-looking statements. We reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include a reconciliation of these measures, where appropriate, to GAAP on the Investor Relations section of our website at manpowergroup.com.

April 20, 2021

ManpowerGroup | First Quarter 2021 Results

2

ManpowerGroup 2021 First Quarter Results

Consolidated Financial Highlights

As

Q1 Financial Highlights

Reported

As Adjusted(1)

7%

7%

Revenue $4.9B

1% CC

1% CC

10 bps

10 bps

Gross Margin 15.6%

161%

14%

Operating Profit $98M

146% CC

8% CC

120 bps

10 bps

OP Margin 2.0%

NM(2)

35%

EPS $1.11

28% CC

  1. Excludes the impact of prior year items consisting of restructuring costs of $48.2M ($40.2 net of tax) and the impact of a non-cash pension settlement expense of $10.2M ($6.3 net of tax) recorded in interest and other expenses below operating profit.
  2. Variances are not meaningful.

April 20, 2021

ManpowerGroup | First Quarter 2021 Results

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ManpowerGroup 2021 First Quarter Results

EPS Bridge - Q1 vs. Guidance Midpoint

April 20, 2021

ManpowerGroup | First Quarter 2021 Results

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ManpowerGroup 2021 First Quarter Results

Consolidated Gross Margin Change

April 20, 2021

ManpowerGroup | First Quarter 2021 Results

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ManpowerGroup Inc. published this content on 20 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 12:07:10 UTC.