Insperity : Q3 2023 Investor Presentation

Safe Harbor Statement

The statements contained herein that are not historical facts are forward-looking statements within the meaning of the Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify such forward-looking statements by the words "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "could," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, in an effort to help keep our stockholders and the public informed about our operations, from time to time, we may issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies; projected or anticipated benefits or other consequences of such plans or strategies; or projections involving anticipated revenues, earnings, average number of worksite employees, benefits and workers' compensation costs, or other operating results. We base the forward-looking statements on our current expectations, estimates and projections. We caution you that these statements are not guarantees of future performance and involve risks, uncertainties and assumptions that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Therefore, the actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements. Among the factors that could cause actual results to differ materially are (i) adverse economic conditions; (ii) impact of the COVID-19 pandemic, or other future pandemics, including the scope, severity and duration of the pandemic; government responses; regulatory developments; and the related disruptions and economic impact to our business and the small and medium-sized businesses that we serve; (iii) labor shortages and increasing competition for highly skilled workers; (iv) impact of inflation; (v) vulnerability to regional economic factors because of our geographic market concentration (vi) failure to comply with covenants under our credit facility; (vii) our liability for WSEE payroll, payroll taxes and benefits costs, or other liabilities associated with actions of our client companies or WSEEs, including if our clients fail to pay us; (viii) bank failures or other events affecting financial institutions; (ix) increases in health insurance costs and workers' compensation rates and underlying claims trends, health care reform, financial solvency of workers' compensation carriers, other insurers or financial institutions, state unemployment tax rates, liabilities for employee and client actions or payroll-related claims; (x) an adverse determination regarding our status as the employer of our WSEEs for tax and benefit purposes and an inability to offer alternative benefit plans following such a determination; (xi) cancellation of client contracts on short notice, or the inability to renew client contracts or attract new clients; (xii) the ability to secure competitive replacement contracts for health insurance and workers' compensation insurance at expiration of current contracts; (xiii) regulatory and tax developments and possible adverse application of various federal, state and local regulations; (xiv) failure to manage growth of our operations and the effectiveness of our sales and marketing efforts; (xv) the impact of the competitive environment and other developments in the human resources services industry, including the PEO industry, on our growth and/or profitability; (xvi) an adverse final judgment or settlement of claims against Insperity; (xvii) disruptions of our information technology systems or failure to enhance our service and technology offerings to address new regulations or client expectations; (xviii) our liability or damage to our reputation relating to disclosure of sensitive or private information as a result of data theft, cyberattacks or security vulnerabilities; (xix) failure of third-party providers, such as financial institutions, data centers or cloud service providers; and (xx) our ability to integrate or realize expected returns on future product offerings, including through acquisition and investment.

These factors are discussed in further detail in Insperity's filings with the U.S. Securities and Exchange Commission. Any of these factors, or a combination of such factors, could materially affect the results of our operations and whether forward-looking statements we make ultimately prove to be accurate. Any forward-looking statements are made only as of the date hereof and, unless otherwise required by applicable securities laws, we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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Helping businesses succeed…

…so communities prosper

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A comprehensive solution

* Available for an additional fee.

† All insurance products are offered and sold only through a licensed insurance broker, such as Insperity Insurance Services LLC (CA license #OE22586), or their licensed agents.

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Where is the PEO industry in the adoption life cycle?

Insperity's Co-Employment model incorporating Software with a Service has jumped the chasm to Early Majority compared to the Late Majority stage of the HCM Software as a Service Solution.

Software with a Service

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What is Insperity's market opportunity?

Insperity competes in a large, fragmented and highly attractive market

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Who does Insperity target?

Insperity is focused on being a trusted advisor to the best small-to-midmarket businesses

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Who are Insperity's clients?

Insperity currently provides Workforce Optimization solutions for ~11,700 clients

FY 2022 Average Paid Worksite Employees ("WSEs"): 295,005

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