Bringing Skilled People Together to Build the Future

BRINGING SKILLED PEOPLE TOGETHER TO BUILD THE FUTURE

FULL YEAR RESULTS PRESENTATION 2020 RESULTS FOR YEAR ENDED 30 NOVEMBER 2020 WE BRING SKILLED PEOPLE TOGETHER TO BUILD THE FUTURE

STEM FLEXIBLE WORKING The short-to-mid term project work often required or desired from STEM specialist workers

Technology Life Sciences Employed Freelance Permanent contractor contractor Engineering Banking & Other Finance

GLOBAL FOOTPRINT

UNIQUE OPPORTUNITY

SThreeis at the centre of two long term secular trends with 2 Note 1: Business mix is based on % of net fees a unique global footprint to maximise this opportunity RECURRING REVENUE NATURE OF OUR FLEXIBLE WORKING FOCUS HAS HIGHLY ATTRACTIVE ECONOMICS

Resilient in Particularly More uncertain Higher lifetime Growth in Counter suited to STEM predictable High barriers markets and value and margin at cyclical cash staffing and visible to entry strong as profitability scale dynamics market earnings markets improve 89% 40% 89% of staffing revenue in 2019 was temporary staffing, of Contract lifetime value is circa 40% greater than which 43% relates to professional staffing Permanent equivalent (Staffing Industry Analysts May 2020) (Sthree internal data Q4 2020)

3 WE ARE THE ONLY GLOBAL PURE-PLAY STEM SPECIALIST WE ARE UNIQUE

4 4 RESILIENT PERFORMANCE DRIVEN BY OUR UNIQUE FOCUS ON STEM AND FLEXIBLE WORKING

Strong balance sheet Revenue Net fees

Net cash position as £50m at 30 November 2020 £1,203m £308.6m 30 November 2019: £11m down 9% YoY down 8% YoY Increase in Contract business mix

Operating profit Free cash flow conversion % 76% FY 2019: 74%

£31.3m 178% Net fees generated internationally adjusted operating profit down 48% YoY 2019: 68% 89% FY 2019: 87% Final dividend reinstated – 5.0p (2019: 0.0p) International represents our businesses outside the UK

5 Note 1: Numbers presented on an adjusted continuing operations basis excluding discontinued operations in Australia Note 2: Free cash flow and net cash presented on an adjusted Group basis Note 3: YoY movement is at constant currency COVID-19

6 OUR FOCUS ON OPERATIONAL EXECUTION DELIVERED

Progress in KPIs Sequential improvement across H2

Market share gains USA, Germany, Sales activity Contractor retention Netherlands and UK increased rates up

Net promoter score Contractor order Productivity per 52 book stabilised head up YoY 2019: 44

7 FOCUSED EXECUTION GUIDED BY OUR PURPOSE

Three phases of Initial response Ongoing management Recovery phase response to the COVID-19 pandemic by SThree

KEEPING OUR PEOPLE, ENSURING ECONOMIC VIABILITY AND ENSURING BUSINESS CONTINUITY AND CANDIDATES AND CLIENTS SAFE A VIBRANT BUSINESS ONGOING EFFECTIVE OPERATIONS

• >95% of staff working at home • Dedicated COVID-19 crisis team of key • Providing technology and tools to senior managers set up to mitigate any operate remotely, with over 2,200 • THRIVE wellbeing platform impacts laptops deployed in response to • Cultivating future talent such as Tech the pandemic • Careful cost and cash management Career Pathways programme in the USA • Sentiment surveys to better understand • Longer term kept front of mind, clients’ needs focussed on achieving CMD ambitions • Adapting services for new reality • #STEMSeries to nurture interest in 8 our industries OUR PURPOSE IN ACTION

Our purpose has never been more relevant; ‘Bringing skilled people together to build the future’ and help tackle the global health crisis

MAINZ, Germany, December 31, 2020 – BioNTech SE (Nasdaq: BNTX) today wants to express its thanks and gratitude not only to its employees but also to the many partners who have assisted the company in successfully developing a vaccine for COVID-19. BioNTech acknowledges that without the tireless effort from its’ employees and partners, who have played a pivotal role in this effort, it would not have been able to achieve this historic company milestone, a journey which only began in early 2020.

9 https://biontechse.gcs-web.com/news-releases/news-release-details/biontech-recognizes-employees-and-partners-their-support PERFORMANCE

10 RESILIENT PERFORMANCE DESPITE IMPACT OF COVID-19

FY 2020 FY 2019 Actual movement LFL movement*

Revenue £1,202.6m £1,324.7m -9% -9%

Contract net fees £233.4m £251.4m -7% -7%

Permanent net fees £75.2m £86.6m -13% -13%

Total net fees £308.6m £338.0m -9% -8%

Operating profit £31.3m £60.0m -48% -48%

Conversion ratio 10.1% 17.8% -7.7%pts -7.6%pts

Profit before tax £30.1m £59.1m -49% -49%

Taxation (£11.7m) (£15.9m)

Profit after tax £18.4m £43.2m -57%

Note 1: *Movement is at constant currency, on an adjusted basis Note 4: FY 2020 figures are adjusted for the impact of £0.5 million in net exceptional strategic restructuring income 11 Note 2: Numbers presented on an adjusted continuing operations basis excluding discontinued operations in Australia Note 5: FY 2019 figures are adjusted for the impact of £2.3 million in net exceptional strategic restructuring costs and CEO change costs. Note 3 Conversion ratio = operating profit expressed as a % of net fees Note 6: 2020 adjusted ETR of 39.0% OPERATING PROFIT AFTER COST SAVINGS AND ONE-OFF ITEMS

One off items £60.0m (£11.4m)

(£18.0m)

£7.5m (£3.6m) £1.2m (£1.1m) £31.3m (£3.3m)

Operating profit Permanent Contract People costs IT/ other Impairments Business right Government Operating profit FY 2019 net fees net fees operational sizing costs assistance FY 2020 costs 12 Note 1: Numbers presented on an adjusted continuing operations basis excluding discontinued operations in Australia Note 2: FY 2020 figures are adjusted for the impact of £0.5 million in net exceptional strategic restructuring income Note 3: FY 2019 figures are adjusted for the impact of £2.3 million in net exceptional strategic restructuring costs and CEO change costs. IMPROVING UNDERLYING SEQUENTIAL PERFORMANCE IN H2

Productivity YoY Net fee growth YoY

+12%

-7%

-6% -4% -12% -14% -10%

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

• Productivity up 4% in H2 DACH USA • Sequential improvement in net fee growth from Q3 to Q4 across EMEA excl DACH GROUP all our major geographies

13 Note 1: Numbers presented on an adjusted continuing operations basis excluding discontinued operations in Australia Note 2: Productivity expressed as net fees / average total employees BENEFIT OF FLEXIBLE WORKING & STEM ECM NET FEES GREW 11% YOY

2015 2019 2020

7% 23% 26% 24% 28% 36% 64% 74% 76% Contract Contract Contract

57%

51% 48%

• Employed contractor model ‘ECM’ has attractive margins, c40% higher than freelance Employed Contractor ‘ECM’ Freelance Contractor • Contractor LTV is c40% higher than Permanent equivalent Total Contract

Permanent

14 Note 1: Employed contractor model (“ECM”) where a skilled specialist is legally employed by Sthree typically on a back to back contract with the end client Note 2: LTV – Life time value represents the value of total net fees generated during the life cycle of a contractor ROBUST BALANCE SHEET WITH DEBT FACILITIES UNDRAWN

30 Nov 2020 30 Nov 2019 Net working capital

Intangible assets £4.4m £8.0m Permanent £3.2m

Property, plant & equipment £7.9m £6.8m Contract £76.3m

Net working capital £79.5m £98.0m £79.5m

Net lease liabilities (£2.6m) £0.0m

Provisions (£12.5m) (£9.7m) £50m revolving credit facility with Citibank and HSBC, committed to May 2023. Net tax assets £1.9m £3.1m £50m Bank of England’s COVID Corporate Net cash £49.9m £10.6m Financing Facility, available until March 2021.

Net assets £128.5m £116.8m

15 Note 1: Presented on a Group basis STRONG CASH MANAGEMENT AND WORKING CAPITAL UNWIND DRIVES IMPROVED FREE CASH FLOW CONVERSION

FY 2020 Uses of free cash

£16.6m £76.9m (£10.5m) £5.3m CAPEX (£14.0m) £9.2m £1.1m £52.4m LTIPs/tracker shares/ £21.6m other £6.7m Dividends £29.5m £39.3m Net increase in Operating profit Non-cash items Tax deferrals Working Operating cash Tax paid Bank Interest/ Free cash flow cash balance capital flow Lease principal payments % % 2612019: 91% 178 2019: 68% Operating cash flow Free cash flow conversion ratio conversion ratio

16 Note 1: Presented on an adjusted Group basis Note 2: Prior year has not been restated for IFRS16 as permitted under the specific transitional provisions within the standard RESILIENT PERFORMANCE LEADING TO REINSTATEMENT OF FINAL DIVIDEND

Adjusted As Reported Adjusted As Reported Adjusted As Reported

FY 2020 FY 2020 FY 2019 FY 2019 Actual Growth Actual Growth

Profit after tax £18.4m £18.8m £43.2m £41.3m -57% -55%

For basic EPS 132.1m 132.1m 129.9m 129.9m +2% +2% Weighted average Dilutive impact of share plans 4.3m 4.3m 3.7m 3.7m +16% +16% number of shares Fully diluted EPS 136.4m 136.4m 133.6m 133.6m +2% +2%

Basic 13.9p 14.2p 33.2p 31.8p -58% -55% EPS Diluted 13.5p 13.8p 32.3p 30.9p -58% -55%

Interim - - 5.1p 5.1p - -

DPS Final 5.0p 5.0p - - - -

Full Year 5.0p 5.0p 5.1p 5.1p -2% -2%

17 Note 1: Numbers presented on a continuing operations basis excluding discontinued operations in Australia BUSINESS OVERVIEW

18 GLOBAL BUSINESS OPERATING IN THE BEST STEM MARKETS

Net fees

3% 25% 34% 23% 32%

42%

38%

DACH USA

EMEA excl DACH APAC

19 Note 1: Business mix is based on % of net fees Note 2: All pie charts: Outside FY 2020; Inside FY 2019 Note 3: Size of bubble denotes the size of the staffing markets based on revenue (Source: SIA Global staffing Industry) GROUP KPIS

Revenue Net fees Average sales headcount NPS Net fees (£m)

FY20 £308.6 £1,203 £308.6 2,193 52 FY19 £338.0 FY18 million million FTE £316.5

Contractor Order Book -10% Division Sector YoY 2%

23% 3% 24% 76% £98.1m 20% £92.4m £88.8m 26% 74% £76.6m 45% 45%

21%

22% FY 2017 FY 2018 FY 2019 FY 2020 11%

Note 1: All pie charts: Outside FY 2020; Inside FY 2019 Contract Permanent Technology Life Sciences Other Note 2: Numbers presented on an adjusted continuing operations basis excluding discontinued operations in Australia Note 3: All variances at constant currency unless otherwise stated 20 Note 4: Contractor order book represents value of net fees until contractual end dates, assuming all contracted hours are worked Engineering Banking & Finance Note 5: Contractor order book restated at FY 2020 average rates DACH (34% OF GROUP NET FEES)

Revenue Net fees Average sales headcount NPS Net fees (£m)

FY20 £105.8 £371.9 £105.8 786 55 FY19 £109.3 FY18 million million FTE £99.4

Division Sector

18%

16% 35% 65% 35% 65% Technology 16% 18% 58% Banking & 60% Finance 7% Engineering 6% Contract Life Sciences

Permanent Other

21 Note 1: All pie charts: Outside FY 2020; Inside FY 2019 Note 2: All variances at constant currency unless otherwise stated DACH (34% OF GROUP NET FEES)

Contractor Order Book +5% • Resilient performance with FY YoY net fees down 3% YoY Austria (Contract down 3% and Switzerland Permanent down 3%) 3% 5% • Life Sciences up 4% driven by £29.1m exceptional Q1 and increased £27.8m demand in H2 in Clinical £23.6m Research & Development £20.2m • Technology was flat in the year with increasing demand for Cyber Security and Data Science skills

FY 2017 FY 2018 FY 2019 FY 2020 92% • Growth in our STEM market share and now the third largest Contractor order book 3 year CAGR growth of +13% Germany IT Contract recruiter in Germany

• Average sales headcount up 1% with Technology up 5% and Note 1: All variances at constant currency unless otherwise stated Note 2: Contractor order book represents value of net fees until contractual end dates, assuming all contracted hours are worked Life Sciences down 1% 22 Note 3: Contractor order book restated at FY 2020 average rates Note 4: Lünendonk is German peer of the global organisation, Staffing Industry Analyst – the body that analyses the world wide recruitment industry EMEA EXCL DACH (38% OF GROUP NET FEES)

Revenue Net fees Average sales headcount NPS Net fees (£m)

FY20 £117.6 £588.8 £117.6 934 53 FY19 £141.2 FY18 million million FTE £141.8

Division Sector 3% 14% 12% 86% 4% 16% 11% 84%

Technology 51% 50% 22% 25% Banking & Finance Engineering 12% Contract Life Sciences 10% Permanent Other

23 Note 1: All pie charts: Outside FY 2020; Inside FY 2019 Note 2: All variances at constant currency unless otherwise stated EMEA EXCL DACH (38% OF GROUP NET FEES)

Contractor Order Book -26% YoY • Net fees down 16% with Other Dubai Contract down 15% and Netherlands Permanent down 26% 5% 4% Belgium £43.9m £41.9m • Challenging performance in 10% the UK with net fees down 19% £37.5m £30.9m 40% • The Netherlands, our largest France 11% country in the region, was down 10% however there were strong performances in Engineering and Life Sciences FY up 20% and 6% respectively FY 2017 FY 2018 FY 2019 FY 2020 2020 30% • Market share gained in the Netherlands and UK Contractor order book decline driven by UK and the Netherlands UK • Average sales headcount was down 16% with UK down 18% and the Netherlands down 13% Note 1: All variances at constant currency unless otherwise stated Note 2: Contractor order book represents value of net fees until contractual end dates, assuming all contracted hours are worked Note 3: Contractor order book restated at FY 2020 average rates 24 Note4: Other includes: Ireland 2%, Luxembourg 2%, Spain 1% Note 5: The Netherlands temporary technical sector market turnover (ABU Data 2020) Note 6: SIA 2020 USA (25% OF GROUP NET FEES)

Revenue Net fees Average sales headcount NPS Net fees (£m)

FY20 £77.3 £227.5 £77.3 389 51 FY19 £76.7 FY18 million million FTE £66.7

Division Sector 1% 15% 20% 80% 3% 14% 22% 78% 8% 13% Technology 47% 41% Banking & Finance Engineering 29% 29% Contract Life Sciences

Permanent Other

25 Note 1: All pie charts: Outside FY 2020; Inside FY 2019 Note 2: All variances at constant currency unless otherwise stated USA (25% OF GROUP NET FEES)

Contractor Order Book +1% YoY • USA demonstrated its strength with net fees up 2% in the year

• Life Sciences up 16% driven by increased activity in H2 in Clinical £27.8m £28.1m Operations, Product Development and Quality Assurance £24.1m • Technology up 9% with increased demand for Tech skills that support digital transformation such as Mobile Applications £18.2m and Software Development • Growth in our market share as we outperformed the STEM market

• Key area of focus for the Group with average sales headcount down 1% FY FY 2017 FY 2018 FY 2019 FY 2020 2020

Contractor order book 3 year CAGR growth of +16%

Note 1: All variances at constant currency unless otherwise stated Note 2: Contractor order book represents value of net fees until contractual end dates, assuming all contracted hours are worked 26 Note 3: Contractor order book restated at FY 2020 average rates Note 4: USA SIA September 2020 update APAC (3% OF GROUP NET FEES)

Revenue Net fees Average sales headcount NPS Net fees (£m)

FY20 £7.9 £14.4 £7.9 86 27 FY19 £10.8 million million FTE FY18 £8.6

Division Sector

20% 26% 16% 30%

43% Technology 1% 54% Banking & 2% Finance Engineering 84% 19% 25% Contract Life Sciences 80% Permanent Other

Note 1: All pie charts: Outside FY 2020; Inside FY 2019 27 Note 2: All variances at constant currency unless otherwise stated Note 3: APAC region now excludes discontinued operations in Australia APAC (3% OF GROUP NET FEES)

Contractor Order Book -8% YoY • Net fees down 26% in the year Singapore driven by transactional nature of our Japan business which is 94% Permanent £0.7m £0.7m £0.7m 26% • Japan, our largest country in £0.6m the region, was down 25% with Technology down 9%, Life Sciences down 46% and Banking & Finance down 53%

• Singapore net fees down 29% YoY 74% FY FY 2017 FY 2018 FY 2019 FY 2020 2020• Average sales headcount was down 18% in the region with Contractor order book impacted by Japan with Singapore Japan Japan headcount down 10% up 10% YoY

Note 1: All variances at constant currency unless otherwise stated 28 Note 2: Contractor order book represents value of net fees until contractual end dates, assuming all contracted hours are worked Note 3: Contractor order book restated at FY 2020 average rates STRATEGY & OUTLOOK

29 PROGRESS AGAINST OUR STRATEGIC PILLARS

Leveraging our position at Create a world class To be a leader in Find, develop, retain the centre of STEM to deliver operational platform markets we choose great people sustainable value to our through data, technology to serve candidates and customers and infrastructure

• Delivered 75 virtual events • Appointed Chief • DACH business recognised • Pulse surveys on employee within our #STEMseries, Operating Officer as third largest IT Contract experience with 2,754 participants • Systems and hardware to recruiter in Germany • 5,900 hours of learning • Performed a strategic support remote working • Focus on improving delivered portfolio review rolled out with 2,700 laptops customer satisfaction results • Launched THRIVE, our deployed with NPS up 8 pts to 52 • Brand purpose aligned to commitment to heath and SThree’s core value • STEM market intelligence • Thought leadership to wellbeing in May proposition sentiment surveys maximise our position in our • New global D&I strategy markets • Delivered two community • SAP cloud migration launched outreach programs • Female management level 3 +27%pts to 58%, level 4 +16%pts to 27%

Note 1: #STEMSeries - https://www.sthree.com/en/about-us/virtual-events/ 30 Note 2: Level 3 cohort represents Sales Business Managers & level 4 cohort represents Sales Directors Note 3: Lünendonk is German peer of the global organisation, Staffing Industry Analyst – https://www.luenendonk.de/produkte/listen/luenendonk-liste-2020-fuehrende-anbieter-fuer-rekrutierung-vermittlung-und-steuerung-von-it-freelancern-in-deutschland/ ESG: EMPOWERING A SUSTAINABLE FUTURE THROUGH STEM We have defined three clear areas where we can have the biggest impact

Building a Building an Building on our green future inclusive workforce business ethics for the future

• We will reduce our carbon footprint • Positively impact 150,000 lives by 2024 through • Continue to realise our purpose by facilitating by 20% by 2024 delivering recruitment solutions and community partnerships with all our stakeholders to go programmes beyond what is expected to achieve the • Partner with clients to build future powered by Sustainable Development Goals clean energy • Tackle inequality and diversify the industries we partner with through STEM career pathways • Aim to grow our renewables business and provide program right talent for transition to low carbon economy • Use skills and knowledge to provide career support to people at risk of unemployment

2020 ESG achievements

reduction in our lives positively hours of volunteering to 56% carbon footprint 15,764 impacted by 2,408 strengthen our communities SThree 31 MARKET OUTLOOK - KEY THEMES ARE GAINING TRACTION

Management of a more Re-building supply chains Digital transformation flexible and resilient workforce with a focus on resilience and acceleration of the future sustainability (just in time to just in case) • Importance and difficulty of • Focus on planning for • Need for specialist roles: - finding the right people the future Automation - Cyber Security • Investigating alternative markets • Innovative solutions for challenges - Infrastructure to find talent - e-channels

32 Note 1: Sthree Q4 Sentiment survey – over 320 candidates and 230 clients surveyed THE FOCUS, ACROSS ALL THEMES

INVESTING: AGILITY: DEMAND: Businesses are investing to Organisational Demand for the right STEM ensure ongoing resilience agility is key talent still exceeds supply post-pandemic

• 40% of employers expect • People at the forefront • Finding the right talent is as that employees will require challenging as ever despite • Remote work is here to stay, digital reskilling increased candidate pools transforms geographical job • 48% investing in technology markets • 56% infrastructure, network and cloud • 34% investing in high calibre talent • 45% specifically stated they demand more adaptable • 59% Cybersecurity employees • 44% mobile applications • 37% adopting agile methodologies

33 OUTLOOK - OUR FOCUS GOING FORWARD

Continue to drive the Group Secular trends of STEM and flexible forward towards our long term working will become more 2024 ambitions powerful over the next year, as shown in our sentiment surveys

Build on 2020 success in driving In line with our strategic pillars, first-class strategic execution continue to invest in data, across the business, ensuring technology and our go to market we are able to best capitalise approach, leveraging the power on opportunities of our platform

34 MAKING PROGRESS AGAINST GROUP AMBITIONS 2024

Market share of STEM 2020 Progress Conversion ratio (CR%1) 2020 Progress

To grow Group market share by 50% 21-24% To 3% by 2024 2020: 10.1% (2020: 2%)

Free cash flow (FCF) CR%2 2020 Progress People and society 2020 Progress

To drive a free cash • To maintain Learning & Development spend at 5% of operating profit flow CR% of at least 75% • To grow productivity3 per head over the period by 1% - 2% pa 2020 - FCF CR%: 178% • To reduce our absolute CO2 emissions by 20%

Note 1: Ratio of operating profit to net fees Note 2: Free cash flow CR% represents cash generated from operations for the year after deducting tax, net interest cost and rent payments, stated as a percentage of operating profit Note 3: Productivity expressed as net fees / average total employees 35 Q&A

36 FINANCIAL CALENDAR

2021 2022

15 March Q1 Trading Statement 31 January Annual results for the year ended 30 November 2021

22 April Annual General Meeting

14 June Trading update for the six months ended 31 May 2021

19 July Interim results for the six months ended 31 May 2021

13 September Q3 Trading Statement

Trading update for the year ended 30 November 13 December 2021

37 APPENDIX

38 HISTORICAL NET FEES AND CONTRACT MARGIN

Full Year £218.2m £235.7m £258.7m £287.7m £321.1m £338.0m £308.6m

£177.1m £172.7m £158.7m £153.3m £138.9m £117.4m £125.2m

£134.4m £148.4m £160.9m £149.9m Net fees £100.8m £110.5m £119.8m

H1 H2

20.7% 20.3% 20.0% 20.0% 19.8%19.8% 19.9%19.9% 19.8% 19.9% 20.3% 20.8% Contract margin%

2014 2015 2016 2017 2018 2019 2020

39 Note 1: 2019 and 2020 presented on an adjusted continuing operations basis excluding discontinued operations in Australia HISTORICAL OPERATING PROFIT AND CONVERSION RATIO

Full Year £29.8m £41.5m £41.3m £44.9m £53.9m £60.0m £31.3m

£35.2m £33.5m £35.2m £25.6m £33.5m £27.4m £26.0m £25.6m £27.4m £26m £17.4m Adjusted £21.4m £17.1m £24.1m Operating £19.3m £20.4m £24.8m profit £14.1m £15.3m £24.8m £13.9m £8.4m £15.3m £19.3m £20.4m £8.4.m £14.1m £13.9m H1 H2

Adjusted Conversion

ratio %

8.3% 9.3%

13.7% 12.8% 17.6% 12.8% 16.0% 14.4% 15.6% 13.7% 16.8% 15.4% 17.8% 10.1%

2014 2015 2016 2017 2018 2019 2020

HY FY 40 Note 1: 2019 and 2020 presented on an adjusted continuing operations basis excluding discontinued operations in Australia TOTAL GROUP PERFORMANCE

FY 2020 FY 2019 Actual movement LFL movement*

Revenue £1,214.1m £1,345.0m -10% -10%

Contract net fees £235.2m £254.6m -8% -7%

Permanent net fees £75.6m £87.8m -14% -14%

Total net fees £310.8m £342.4m -9% -9%

Operating profit £29.5m £60.0m -51% -51%

Conversion ratio 9.5% 17.5% -8.0%pts -8.0%pts

Profit before tax £28.3m £59.1m -52% -52%

Taxation (£11.7m) (£15.9m)

Profit after tax £16.6m £43.2m -62%

Note 1: *Movement is at constant currency, on an adjusted basis Note 4: FY 2020 figures are adjusted for the impact of £0.5 million in net exceptional strategic restructuring income 41 Note 2: Numbers presented on an adjusted Group basis Note 5: FY 2019 figures are adjusted for the impact of £2.3 million in net exceptional strategic restructuring costs and CEO change costs. Note 3 Conversion ratio = operating profit expressed as a % of net fees Note 6: 2020 adjusted ETR of 41.5% FOREIGN EXCHANGE IMPACT SMALL IN 2020

The Group’s net fees and operating Year ended Year ended YoY exchange 30 November 2020 30 November 2019 rate movement profit decreased by £1.0m and £0.2m respectively, due to a Average Closing Average Closing Average Closing modest FX headwind EUR € 1.14 1.12 1.13 1.17 -0.2% +4.8%

USD $ 1.29 1.33 1.27 1.29 -1.0% -3.0%

Year ended Year ended 30 November 2020 30 November 2019

Net Fees Operating profit Net fees Operating profit

EUR € £1,778k £448k £1,963k £595k Impact of a 1% USD $ £775k £245k £770k £230k change per annum

42 COST BASE ANALYSIS

Cost base Payroll costs

Payroll Property Support Services Sales

Advertising IT & Professional

Other

43 IFRS16 IMPACT ON THE INCOME STATEMENT AND BALANCE SHEET

Adjusted

Marginal impact to operating profit of £0.5m and profit before tax of (£0.2m)