Simplify Hiring with Indeed

Monetization
Chris Hyams
CEOIndeed

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Clear strategic framework
Goals

Strategy

Grow # hires

Strategic Priorities

01

Grow marketplace effectiveness —reach, matching, and connections

02

Effectively monetize marketplace opportunities

Search →Marketplace
Grow revenue

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02

Effectively monetize marketplace opportunities“Why don’t you just raise prices?”

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Significant monetization opportunities bycapturing the value we already deliver

Aligned to customers
Pay for Performance
Aligned to job seekers

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From search engine to marketplace:

Evolution of our strategy since 2011 and beyond
HR Technology SBU Revenue (calendar year)$9B~45% CAGR$6B

Hosted Jobs +Indeed Apply$3B$02005 2006 2007 2008 2009 2010 2011

Classified → Search Engine2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Search Engine → Marketplace

Source: Indeed revenue 2005 - 2016, HR Technology SBU revenue 2017 - 2023 (calendar year). CAGR = Compound Annual Growth Rate 2011 to 2023.

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Large and growing global HR Matching market
Retained Search$42B

Temporary Staffing$128B

Internal Recruitment
Automation$64B$327BDirect Hire

$61B
Job Advertising andTalent Sourcing$32B

Source: See P20 of “Consolidated Financial Results for the Year Ended March 31, 2023 (IFRS, Unaudited)” for more detailed information.

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10X larger opportunity from marketplace vs. searchMarketplace>$295B~10X$327B
Search<$32B
Source: See P20 of “Consolidated Financial Results for the Year Ended March 31, 2023 (IFRS, Unaudited)” for more detailed information.
Marketplace TAM defined as the total of the Direct Hire, Retained Search, Internal Recruitment Automation and Temporary Staffing markets.

1-6-7Marketplacemonetization
strategy01

Grow take rate ofexisting customers

02

Grow new customers

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Take rate =cost per hire as %01

Grow take rate ofexisting customersof first year salarye.g.:
Salary: $100k
Cost per Hire: $10k
Take rate is $10k/$100k = 10%

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01: Grow take rate of existing customers

Take Rate

Indeed’s take rateis < 1%, well below
market pricing

Indeed

<1% 1Staffing~20% 2

Placement~20-25% 3

Executive Recruitment

up to 40%

Source: 1 Take rate calculated based on avg. spend on Indeed as % of average estimated salary for all jobs with a reported hire on Indeed in 2023; 2 Equal to grossprofit margin/(1 - gross profit margin) based on the weighted gross profit margin of the top 3 publicly traded global staffing companies in terms of revenue in2021; 3 Staffing Industry Analysts: North America Staffing Company Survey 2021 Direct hire fees trend over time.

1-6-1001: Grow take rate of existing customers

FreePaid

Free → PaidFreePaidFree
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01: Grow take rate of existing customers

Sponsored jobs are40%more likely to lead to a hire

Source: Indeed data (worldwide), 2023

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01: Grow take rate of existing customers

Indeed Apply

Grow Indeed Apply
adoption forEnterprise clients

2.5X hires

12X $/job

2<50% of jobs

3

Source: 1 Indeed data (worldwide), Tracking on non Indeed Apply
applications may be limited; 2 Indexed Indeed Apply enabledcompared to Indexed Indeed Apply not enabled; 3 Percent of alljobs on Indeed that have the Indeed Apply feature enabled,
allowing job seekers to apply to the job directly on Indeed.

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01: Grow take rate of existing customers
Examples from the HR industry

High salary job monetization;
Industry take rate increases
as salary increases

SalaryAverage
Cost perHireTakeRate

Hospitality$30,850$1,070

3.5%

Technical /Scientific$91,200$6,464

7.1%

Tech / ScientificExecutive$150,820$39,19326%

Source: Salary - Bureau of Labor Statistics; Cost per Hire – SHRM Benchmarking report

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01: Grow take rate of existing customers

Indeed take rate decreases as salary increases

Indeed Take Rate

Value based pricing can grow take rate

$50,000$100,000$150,000$200,000SalarySource: Indeed data, 2023. Take rate calculated based on avg. spend on Indeed as % of average estimated salary for all jobs with a reported hire on Indeed in 2023
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01: Grow take rate of existing customers

Indeed take rate decreases as salary increases

Indeed Take Rate

Value based pricing can grow take rate

$50,000$100,000$150,000$200,000SalarySource: Indeed data, 2023. Take rate calculated based on avg. spend on Indeed as % of average estimated salary for all jobs with a reported hire on Indeed in 2023
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01: Grow take rate of existing customers“Closer to the hire” offerings
SearchSearchMarketplace
Click

ApplyInterview

Hire

Attract

Connect

Hire

Interested candidates

Quality, engaged candidates

Hires

Sponsored Jobs without Indeed Apply

Sponsored Jobs with Indeed Apply

Indeed Hire

Employer Branding

Smart Sourcing

Indeed Flex

$32B TAM$295B TAM

See P20 of “Consolidated Financial Results for the Year Ended March 31, 2023 (IFRS, Unaudited)” for more detailed information.
Marketplace TAM defined as the total of the Direct Hire, Retained Search, Internal Recruitment Automation and Temporary Staffing markets.

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Expand in markets outside the US~70% of revenue from the US1,
but ~70% of the HR Matching
TAM is outside the US2
Grow SMB customers

02

Grow new customers

Simplify the job posting
monetization process
Grow Enterprise customers

Invest in Indeed Applyintegrations

Source: 1 See HR Technology SBU revenue on P6 of "Consolidated Financial Results for the Nine Months Ended December 31, 2023 (IFRS, Unaudited)" formore detailed information; 2 2021 SIA Global Staffing Market Estimates and Forecast: November 2021 Update and internal Indeed estimates

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02: Grow new customers

Marketplace monetization strategy with multiple layers of growth01
Grow take rate ofexisting customers

02
Grow new customers

Grow free to paid matches
Grow Indeed Apply forEnterprise
Grow value-based pricing
for high salary jobs

CurrentMonetization

Expand in markets outside
the US
Grow SMB customers
Grow Enterprise customers

Grow adoption of “closerto the hire” solutions

1-6-1902: Grow new customers

Evolution from search engine to marketplace
unlocks significant opportunities ahead
HR Technology SBU Revenue (calendar year)
$9B

$6B

$3B

$02005 2006 2007 2008 2009 2010 2011

Classified → Search Engine2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Search Engine → Marketplace

Source: Indeed revenue 2005 - 2016, HR Technology SBU revenue 2017 - 2023 (calendar year). Future growth trajectory for illustrative purposes only.

1-6-2002: Grow new customers

Evolution from search engine to marketplace
unlocks significant opportunities ahead>$295B
Marketplace
TAM

$9B
$6B
$3B
$0

Classified → Search Engine

Search Engine → Marketplace

Source: Indeed revenue 2005 - 2016, HR Technology SBU revenue 2017 - 2023 (calendar year). Future growth trajectory for illustrative purposes only.
Marketplace TAM defined as the total of the Direct Hire, Retained Search, Internal Recruitment Automation and Temporary Staffing markets.

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Key takeaways
01

Our core principles of Job Seeker First and Pay for Performance
have fueled our position as the global leader in hires

02

Ongoing AI innovation is fueling our progress to transform froma job search engine into a matching and hiring marketplace03

We have significant levers to grow our take rate and customer baseto effectively monetize our marketplace, and address a much larger
HR Matching TAM

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We are just getting started

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