Simplify Hiring
RGF Staffing

Rob Zandbergen
Executive Vice President
Head of Staffing Business
CEO, RGF Staffing B.V.

1-8-1

Our Mission:Employing Made Easy!

Note: "RGF Staffing" represents throughout this presentation the Staffing Strategic Business Unit, as reported by Recruit Holdings

1-8-2

RGF Staffing is a global leader in staffing

275,000

19,30011Temps on assignment working invarious industry segments

Employees working in
all RGF staffing entities

Countries, with presence on thecontinents of Asia, Australia,
Europe, North America

1,58510236%

JPY billion revenue- Portfolio of local brands -(1)JPY billion Adj. EBITDA- Delivery of profitable growth -(2)Adj. EBITDA conversion ratio- Highest productivity in industry -Note: All numbers FY2022
1. Adj. EBITDA = Operating income + depreciation and amortization (excluding depreciation of right-of-use assets) + share-based payment expenses ± other operating income/expenses
2. Conversion Ratio = Adjusted EBITDA / Gross Profit

1-8-3

RGF Staffing has the highest productivity versus peers
Revenue
FY2022

PeersProductivity(1)EBITDA(2)FY2022 EBITDA % of Gross profit

RGF Staffing

FY202236%

RGF Staffing
RGF Staffing

JPY 102bn

JPY 1,585bn#4 in revenue#1 in productivity#3 in EBITDA

Note: Peers include in alphabetical order (Adecco, Hays, Kelly, Manpower, Randstad); Financial data as reported FYE December 2022 disclosure; Hays reported FYE June 2023
Note: Bars in charts are shown in same currency – average FX rate per respective reporting period assumed
1. The percentage of RGF Staffing is calculated based on adjusted EBITDA. The percentages of the peers are calculated based on estimated EBITDA as shown in reported FYE
December 2022 disclosure of respective peers; Hays reported FYE June 2023.
2. RGF Staffing reporting as adjusted EBITDA (FY2022); peers based on estimated EBITDA

1-8-4

RGF Staffing has the most competitive industry cost levels
FY2022 Est. SG&A as percentage of revenue(1)#1
11%

RGF Staffing(2)PeersNote: Peers include in alphabetical order (Adecco, Hays, Kelly, Manpower, Randstad)
1. Estimated SG&A calculated as Gross Margin less estimated EBITDA based on financial data as reported FYE December 2022 disclosure; Hays reported FYE June 2023
2. Sales, General & Administrative Expenses for RGF Staffing based on internal reporting FY2022

1-8-5

RGF Staffing productivity improvements contribute
to Recruit’s Adj. EBITDA growth

Adj. EBITDA in JPY Billion

Organic growth & Continuous productivity improvement
Overseas expansion through acquisitions
USA

AUS & NZ2010
CSI Companies
2011
Staffmark Group2015
Chandler Macleod
Peoplebank

32.2

FY2012FY2013

93.2

2016
USG People
65.6

2012
Advantage Resourcing
34.7

102.2EU82.9

81.2

FY2018FY2019

72.7

76.2

49.6
40.7

FY2014FY2015FY2016FY2017

Note: Adjusted EBITDA reported under JGAAP between FY2012 and FY2015, under IFRS between FY2016 and FY2022 onwards

FY2020

FY2021

FY2022
1-8-6

Our Vision

Be the world’s mostinnovative staffing platform

1-8-7

Temporary staffing is the largest segment in theHR Matching market
The temporary staffing market is highly fragmented and has many inefficient players —out-innovating competitors will enable RGF Staffing to win market share

Temporary
Staffing TAM$128B(1)RGF Staffing is in markets that cover
76% of the temporary staffing TAM(2)(3)HR Matching
TAM

$327B

(1)

USA

30%

Japan

15%

Australia

5%Europe

26%

Total

76%

1. Source: See P20 of “Consolidated Financial Results for the Year Ended March 31, 2023 (IFRS, Unaudited)” for more detailed information
2. Geographical markets where RGF Staffing has a presence: USA, Japan, Australia and Europe (UK, NL, BE, FR, DE)
3. Source: Staffing Industry Analysts; Global Staffing Industry Market Estimates and Forecasts (November 9, 2022)≈ $100B

1-8-8

Today's staffing processes
are inefficient and complex,
primed for innovation

1-8-9

Data driven and AI supported processes will
drive further efficiency improvement
Accelerating the process from job opening to employment
Increase retention of workers

Improve speed and quality of matching

OpeningSource

Candidate

AssessMatch

Onboard

FillEmployment

Automate manual processes

1-8-10Recruit well positioned to innovate HR Matching market
We have the advantage of being part of a larger organization with billions ofinsights to draw upon to bring temp workers and companies together

HR Technology SBU

Staffing SBUMatching & Solutions SBU

Rikunabi NEXTRikunabi

1-8-11

Advancing cross SBU collaboration and innovation
HR Technology SBU

Staffing SBU

Matching & Solutions SBU

01
Development of a full marketplace model
02
111
Leverage best matching technology
03
Workflow automation

1-8-12Please watch the full video presentation to see the Indeed Flex video

1-8-13

Advancing cross SBU collaboration and innovation
HR Technology SBU

Staffing SBU

Matching & Solutions SBU

01
Development of a full marketplace model
02
111
Leverage best matching technology
03
Workflow automation

1-8-14

Leverage best matching technology

Initial test in staffing operatingcompany in Japan

Matching Engine

Implementing Recruit’s AI-basedmatching engine to increase efficiency+90%

increase in# of applications(1)1. Ongoing test in Japan; Increase in applications attributable to recommended job offers delivered to candidates after implementation of matching engine compared to the period before its introduction;
Initial results from test period October 2023 to January 2024 vs. pre-test period October 2021 to January 2022. An "application" refers to candidates' interest to be considered for an interview at thestaffing operating company.

1-8-15

Key Takeaways
01

Our growth has been driven by our commitment to operational
excellence and increased productivity

02

The large, highly fragmented temporary staffing market covers only avery small part of the working population and is prime for growth anddisruption from a tech-led provider

03

We are uniquely positioned to transform temporary staffing withthe use of technology and collaboration across Recruit04

Our initial cross-Recruit initiatives have shown promise, and we see many
opportunities to further increase productivity and temp work efficiency

1-8-16