Company: ADP
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001308179-25-000607
Chunk: 108

Company: AUTOMATIC DATA PROCESSING INC
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 108
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 the first-year impact of business acquisitions.

|                                                                 | (amounts in millions USD) | Twelve Months  
 Ended June 30, |     2025 |     |   |     2024 |     |   |     2023 |
|:----------------------------------------------------------------|:--------------------------|:---------------|---------:|:----|:--|---------:|:----|:--|---------:|
| Total ADP revenues                                              |                           | $              | 20,560.9 |     | $ | 19,202.6 |     | $ | 18,012.2 |
| Less: PEO zero-margin benefits pass-throughs                    |                           |                |  4,289.0 |     |   |  3,975.9 |     |   |  3,800.9 |
| Total ADP revenues excluding zero-margin benefits pass-throughs |                           | $              | 16,271.9 |     | $ | 15,226.7 |     | $ | 14,211.3 |

We believe that the exclusion of the identified items helps us reflect the fundamentals of our underlying business model and analyze results against our expectations and against prior period, and to plan for future periods by focusing on our underlying operations. We believe that the adjusted results provide relevant and useful information for investors because it allows investors to view performance in a manner similar to the method used by management and improves their ability to understand and assess our operating performance. The nature of these exclusions is for specific items that are not fundamental to our underlying business operations. Since these adjusted financial measures and other non-GAAP metrics are not measures of performance calculated in accordance with U.S. GAAP, they should not be considered in isolation from, as a substitute for, or superior to their corresponding U.S. GAAP measures, and they may not be comparable to similarly titled measures at other companies.

| Automatic Data Processing, Inc. – Proxy Statement   | | A-2 |

AUTOMATIC DATA PROCESSING, INC.
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