Exhibit 99.1

KELLY^® REPORTS

SECOND QUARTER EARNINGS

Financial Highlights

•Q2 revenue declined 28.7% or 27.7% in constant currency

•Q2 operating earnings of $11.1 million, down 68.2%, or down 50.4% as adjusted

•Q2 earnings per share of $1.04, down 50.9%, or down 37.0% as adjusted

TROY, Mich. (August 6, 2020) – Kelly (Nasdaq: KELYA) (Nasdaq: KELYB), a leading specialty talent solutions provider, today announced results for the second quarter of 2020.

Peter Quigley, president and chief executive officer, announced revenue for the second quarter of 2020 totaled $1.0 billion, a 28.7% decline, or 27.7% in constant currency, compared to the corresponding quarter of 2019. Revenues declined as a result of lower demand during the quarter as customers reacted to the COVID-19 crisis.

Earnings from operations for the second quarter of 2020 totaled $11.1 million, compared to the $34.8 million reported for the second quarter of 2019. The 2020 second quarter results include an adjustment to restructuring charges, and the second quarter of 2019 results included an adjustment to restructuring charges and a $12.3 million gain on sale of assets. On an adjusted basis, earnings from operations were $10.9 million compared to $21.9 million in the corresponding quarter of 2019.

Diluted earnings per share in the second quarter of 2020 were $1.04 compared to earnings per share of $2.12 in the second quarter of 2019. Included in the earnings per share in the second quarter of 2020 is a non-cash gain, net of tax, on Kelly’s investment in Persol Holdings common stock of $0.52. Included in the earnings per share in the second quarter of 2019 is $1.07 from a non-cash gain per share on Kelly’s investment in Persol Holdings common stock, net of tax, gain on sale of assets, net of tax of $0.23, and a $0.01 per share adjustment to restructuring charges, net of tax. On an adjusted basis, earnings per share were $0.51 for the second quarter of 2020 compared to $0.81 for the corresponding quarter of 2019.

“The impact of COVID-19 continued throughout the second quarter as closures and widespread uncertainty resulted in reduced customer demand and lower top-line growth,” stated Quigley. “Amid this unprecedented environment, Kelly initiated several quick and decisive actions to protect its profitability and liquidity and captured available upside in resilient, high-margin areas of our business. While we continue to closely manage the impact of the pandemic, we’re making steady progress on our strategy toward specialization. We stayed on schedule in deploying our new front office technology and we’re now organized as five specialty businesses based on the skill sets modern organizations need to grow and thrive. I believe these are important steps in setting the stage for a more profitable and resilient portfolio in the post-pandemic world. I’m proud that Kelly’s teams have continued to advance our strategy during this stressful time while taking care of our talent and customers with speed and agility.”

In conjunction with its second quarter earnings release, Kelly has published a financial presentation on the Investor Relations page of its public website and will host a conference call at 9:00 a.m. (ET) on August 6 to review the results and answer questions. The call may be accessed in one of the following ways:

Via the Internet:

Kellyservices.com

Via the Telephone

(877) 692-8955 (toll free) or (234) 720-6979 (caller paid)

Enter access code 5728672

After the prompt, please enter “#”

1

A recording of the conference call will be available after 2:30 p.m. ET on August 6, 2020 at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 7745119#. The recording will also be available at kellyservices.com during this period.

This release contains statements that are forward looking in nature and, accordingly, are subject to risks and uncertainties. These factors include, but are not limited to, the recent novel coronavirus (COVID-19) outbreak, competitive market pressures including pricing and technology introductions and disruptions, changing market and economic conditions, our ability to achieve our business strategy, the risk of damage to our brand, the risk our intellectual property assets could be infringed upon or compromised, our ability to successfully develop new service offerings, our exposure to risks associated with services outside traditional staffing, including business process outsourcing and services connecting talent to independent work, our increasing dependency on third parties for the execution of critical functions, the risks associated with past and future acquisitions, exposure to risks associated with investments in equity affiliates including PersolKelly Pte. Ltd., material changes in demand from or loss of large corporate customers as well as changes in their buying practices, risks particular to doing business with government or government contractors, risks associated with conducting business in foreign countries, including foreign currency fluctuations, the exposure to potential market and currency exchange risks relating to our investment in Persol Holdings, risks associated with violations of anti-corruption, trade protection and other laws and regulations, availability of qualified full-time employees, availability of temporary workers with appropriate skills required by customers, liabilities for employment-related claims and losses, including class action lawsuits and collective actions, risks arising from failure to preserve the privacy of information entrusted to us or to meet our obligations under global privacy laws, the risk of cyberattacks or other breaches of network or information technology security, our ability to sustain critical business applications through our key data centers, our ability to effectively implement and manage our information technology projects, our ability to maintain adequate financial and management processes and controls, risk of potential impairment charges triggered by adverse industry developments or operational circumstances, unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, the impact of changes in laws and regulations (including federal, state and international tax laws), competition law risks, the risk of additional tax or unclaimed property liabilities in excess of our estimates, our ability to realize value from our tax credit and net operating loss carryforwards, our ability to maintain specified financial covenants in our bank facilities to continue to access credit markets, and other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any forward-looking statements contained herein, and we have no intention to update these statements.

About Kelly^®

Kelly, Inc. (Nasdaq: KELYA, KELYB) connects talented people to companies in need of their skills in areas including Science, Engineering, Education, Office, Contact Center, Light Industrial, and more. We’re always thinking about what’s next in the evolving world of work, and we help people ditch the script on old ways of thinking and embrace the value of all workstyles in the workplace. We directly employ nearly 440,000 people around the world, and we connect thousands more with work through our global network of talent suppliers and partners in our outsourcing and consulting practice. Revenue in 2019 was $5.4 billion. Visit kellyservices.com and let us help with what’s next for you.

# # #

MEDIA CONTACT:									ANALYST CONTACT:
Jane Stehney									James Polehna
(248) 574-9800									(248) 244-4586
stehnja@kellyservices.com									james.polehna@kellyservices.com

2

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE 13 WEEKS ENDED JUNE 28, 2020 AND JUNE 30, 2019
(UNAUDITED)
(In millions of dollars except per share data)
																								%						CC %
						2020						2019						Change						Change						Change
Revenue from services			$			975.3			$			1,367.5			$			(392.2)						(28.7)			%			(27.7)			%
Cost of services						786.1						1,123.5						(337.4)						(30.0)
Gross profit						189.2						244.0						(54.8)						(22.5)						(21.7)
Selling, general and administrative expenses						178.1						221.5						(43.4)						(19.6)						(18.9)
Gain on sale of assets						—						(12.3)						12.3						NM
Earnings (loss) from operations						11.1						34.8						(23.7)						(68.2)
Gain (loss) on investment in Persol Holdings						29.6						61.2						(31.6)						(51.6)
Other income (expense), net						2.6						0.2						2.4						NM
Earnings (loss) before taxes and equity in net earnings (loss) of affiliate						43.3						96.2						(52.9)						(55.0)
Income tax expense (benefit)						0.9						12.7						(11.8)						(93.2)
Net earnings (loss) before equity in net earnings (loss) of affiliate						42.4						83.5						(41.1)						(49.2)
Equity in net earnings (loss) of affiliate						(1.3)						0.3						(1.6)						NM
Net earnings (loss)			$			41.1			$			83.8			$			(42.7)						(51.0)
Basic earnings (loss) per share			$			1.04			$			2.12			$			(1.08)						(50.9)
Diluted earnings (loss) per share			$			1.04			$			2.12			$			(1.08)						(50.9)
STATISTICS:
Staffing fee-based income (included in revenue from services)			$			7.6			$			15.7			$			(8.1)						(51.5)			%			(50.5)			%
Gross profit rate						19.4			%			17.8			%			1.6			pts.
Conversion rate						5.8						14.2						(8.4)
% Return:
Earnings (loss) from operations						1.1						2.5						(1.4)
Net earnings (loss)						4.2						6.1						(1.9)
Effective income tax rate						2.0			%			13.2			%			(11.2)			pts.
Average number of shares outstanding (millions):
Basic						39.3						39.1
Diluted						39.4						39.2

3

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE 26 WEEKS ENDED JUNE 28, 2020 AND JUNE 30, 2019
(UNAUDITED)
(In millions of dollars except per share data)
																								%						CC %
						2020						2019						Change						Change						Change
Revenue from services			$			2,236.4			$			2,750.1			$			(513.7)						(18.7)			%			(18.0)			%
Cost of services						1,823.9						2,254.5						(430.6)						(19.1)
Gross profit						412.5						495.6						(83.1)						(16.8)						(16.2)
Selling, general and administrative expenses						397.6						456.3						(58.7)						(12.9)						(12.4)
Goodwill impairment charge						147.7						—						147.7						NM
Gain on sale of assets						(32.1)						(12.3)						(19.8)						(161.6)
Earnings (loss) from operations						(100.7)						51.6						(152.3)						NM
Gain (loss) on investment in Persol Holdings						(48.2)						74.4						(122.6)						NM
Other income (expense), net						4.3						(0.9)						5.2						NM
Earnings (loss) before taxes and equity in net earnings (loss) of affiliate						(144.6)						125.1						(269.7)						NM
Income tax expense (benefit)						(35.3)						19.1						(54.4)						(284.9)
Net earnings (loss) before equity in net earnings (loss) of affiliate						(109.3)						106.0						(215.3)						NM
Equity in net earnings (loss) of affiliate						(2.8)						(0.1)						(2.7)						NM
Net earnings (loss)			$			(112.1)			$			105.9			$			(218.0)						NM
Basic earnings (loss) per share			$			(2.86)			$			2.69			$			(5.55)						NM
Diluted earnings (loss) per share			$			(2.86)			$			2.68			$			(5.54)						NM
STATISTICS:
Permanent placement income (included in revenue from services)			$			19.9			$			31.6			$			(11.7)						(37.0)			%			(36.1)			%
Gross profit rate						18.4			%			18.0			%			0.4			pts.
Conversion rate						(24.4)						10.4						(34.8)
% Return:
Earnings (loss) from operations						(4.5)						1.9						(6.4)
Net earnings (loss)						(5.0)						3.9						(8.9)
Effective income tax rate						24.5			%			15.3			%			9.2			pts.
Average number of shares outstanding (millions):
Basic						39.2						39.0
Diluted						39.2						39.2

4

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT
(UNAUDITED)
(In millions of dollars)
						Second Quarter
																					%						CC %
						2020									2019						Change						Change
Americas Staffing
Revenue from services			$			326.7						$			597.6						(45.3)			%			(44.1)			%
Gross profit						63.4									108.8						(41.7)						(40.9)
SG&A expenses excluding restructuring charges						69.8									93.8						(25.5)						(24.7)
Restructuring charges						(0.1)									(0.6)						(88.3)						(88.3)
Total SG&A expenses						69.7									93.2						(25.1)						(24.3)
Earnings (loss) from operations						(6.3)									15.6						NM
Earnings (loss) from operations excluding restructuring charges						(6.4)									15.0						NM
Gross profit rate						19.4			%						18.2			%			1.2			pts.
Global Talent Solutions
Revenue from services			$			466.9						$			505.9						(7.7)			%			(7.5)			%
Gross profit						103.0									99.7						3.3						3.8
SG&A expenses excluding restructuring charges						64.3									74.3						(13.5)						(13.2)
Restructuring charges						(0.1)									—						NM						NM
Total SG&A expenses						64.2									74.3						(13.6)						(13.4)
Earnings from operations						38.8									25.4						53.3
Earnings from operations excluding restructuring charges						38.7									25.4						52.7
Gross profit rate						22.1			%						19.7			%			2.4			pts.
International Staffing
Revenue from services			$			184.6						$			268.1						(31.1)			%			(29.3)			%
Gross profit						23.2									36.1						(36.0)						(34.3)
Total SG&A expenses						25.1									32.6						(23.2)						(21.5)
Earnings (loss) from operations						(1.9)									3.5						NM
Gross profit rate						12.5			%						13.5			%			(1.0)			pts.

5

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT
(UNAUDITED)
(In millions of dollars)
						June Year to Date
																					%						CC %
						2020									2019						Change						Change
Americas Staffing
Revenue from services			$			860.1						$			1,224.1						(29.7)			%			(29.0)			%
Gross profit						157.0									226.0						(30.5)						(30.1)
SG&A expenses excluding restructuring charges						157.7									188.7						(16.4)						(16.0)
Restructuring charges						5.5									5.7						(2.3)						(2.3)
Total SG&A expenses						163.2									194.4						(16.0)						(15.6)
Earnings (loss) from operations						(6.2)									31.6						NM
Earnings (loss) from operations excluding restructuring charges						(0.7)									37.3						NM
Gross profit rate						18.3			%						18.5			%			(0.2)			pts.
Global Talent Solutions
Revenue from services			$			970.1						$			1,006.9						(3.7)			%			(3.5)			%
Gross profit						203.2									200.1						1.6						1.9
SG&A expenses excluding restructuring charges						137.1									149.0						(8.0)						(7.7)
Restructuring charges						0.8									—						NM						NM
Total SG&A expenses						137.9									149.0						(7.5)						(7.2)
Earnings from operations						65.3									51.1						27.8
Earnings from operations excluding restructuring charges						66.1									51.1						29.4
Gross profit rate						20.9			%						19.9			%			1.0			pts.
International Staffing
Revenue from services			$			412.2						$			527.0						(21.8)			%			(20.2)			%
Gross profit						53.1									70.7						(24.9)						(23.3)
SG&A expenses excluding restructuring charges						53.3									63.9						(16.6)						(15.1)
Restructuring charges						1.1									—						NM						NM
Total SG&A expenses						54.4									63.9						(14.9)						(13.4)
Earnings (loss) from operations						(1.3)									6.8						NM
Earnings (loss) from operations excluding restructuring charges						(0.2)									6.8						NM
Gross profit rate						12.9			%						13.4			%			(0.5)			pts.

6

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(In millions of dollars)
						June 28, 2020						Dec. 29, 2019						June 30, 2019
Current Assets
Cash and equivalents			$			216.2			$			25.8			$			37.2
Trade accounts receivable, less allowances of
$11.2, $12.9, and $12.1, respectively						1,085.0						1,282.2						1,273.6
Prepaid expenses and other current assets						76.0						76.5						82.1
Properties held for sale						—						21.2						—
Total current assets						1,377.2						1,405.7						1,392.9
Noncurrent Assets
Property and equipment, net						41.6						43.1						83.4
Operating lease right-of-use assets						85.8						60.4						66.9
Deferred taxes						265.9						229.1						217.5
Goodwill, net						—						127.8						127.8
Investment in Persol Holdings						127.2						173.2						213.7
Investment in equity affiliate						113.6						117.2						122.0
Other assets						307.4						324.1						318.1
Total noncurrent assets						941.5						1,074.9						1,149.4
Total Assets			$			2,318.7			$			2,480.6			$			2,542.3
Current Liabilities
Short-term borrowings			$			0.3			$			1.9			$			19.3
Accounts payable and accrued liabilities						463.6						503.6						513.7
Operating lease liabilities						19.5						20.1						20.3
Accrued payroll and related taxes						210.7						267.6						283.5
Accrued workers' compensation and other claims						25.6						25.7						25.1
Income and other taxes						71.7						65.2						69.2
Total current liabilities						791.4						884.1						931.1
Noncurrent Liabilities
Operating lease liabilities						69.9						43.3						49.3
Accrued payroll and related taxes						38.4						—						—
Accrued workers' compensation and other claims						45.6						45.8						48.8
Accrued retirement benefits						180.8						187.4						178.0
Other long-term liabilities						47.0						55.5						66.9
Total noncurrent liabilities						381.7						332.0						343.0
Stockholders' Equity
Common stock						40.1						40.1						40.1
Treasury stock						(17.3)						(20.9)						(21.5)
Paid-in capital						20.5						22.5						23.2
Earnings invested in the business						1,122.8						1,238.6						1,238.1
Accumulated other comprehensive income (loss)						(20.5)						(15.8)						(11.7)
Total stockholders' equity						1,145.6						1,264.5						1,268.2
Total Liabilities and Stockholders' Equity			$			2,318.7			$			2,480.6			$			2,542.3
STATISTICS:
Working Capital			$			585.8			$			521.6			$			461.8
Current Ratio						1.7						1.6						1.5
Debt-to-capital %						0.0			%			0.1			%			1.5			%
Global Days Sales Outstanding						61						58						57
Year-to-Date Free Cash Flow			$			170.4			$			82.2			$			64.8

7

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE 26 WEEKS ENDED JUNE 28, 2020 AND JUNE 30, 2019
(UNAUDITED)
(In millions of dollars)
						2020						2019
Cash flows from operating activities:
Net earnings (loss)			$			(112.1)			$			105.9
Adjustments to reconcile net earnings (loss) to net cash from operating activities:
Goodwill impairment charge						147.7						—
Deferred income taxes on goodwill impairment charge						(23.0)						—
Depreciation and amortization						12.0						15.6
Operating lease asset amortization						10.5						11.5
Provision for bad debts						0.1						1.8
Stock-based compensation						2.4						5.2
(Gain) loss on investment in Persol Holdings						48.2						(74.4)
(Gain) loss on sale of assets						(32.1)						(12.3)
Equity in net (earnings) loss of PersolKelly Pte. Ltd.						2.8						0.1
Other, net						0.8						(0.6)
Changes in operating assets and liabilities, net of acquisitions						120.8						20.7
Net cash from operating activities						178.1						73.5
Cash flows from investing activities:
Capital expenditures						(7.7)						(8.7)
Acquisition of companies, net of cash received						(36.4)						(86.4)
Proceeds from sale of assets						55.5						13.8
Proceeds from company-owned life insurance						2.3						3.0
Other investing activities						(0.4)						(1.3)
Net cash from (used in) investing activities						13.3						(79.6)
Cash flows from financing activities:
Net change in short-term borrowings						(1.4)						17.1
Financing lease payments						(0.6)						—
Dividend payments						(3.0)						(5.9)
Payments of tax withholding for stock awards						(1.1)						(2.3)
Other financing activities						(0.1)						(0.3)
Net cash (used in) from financing activities						(6.2)						8.6
Effect of exchange rates on cash, cash equivalents and restricted cash						5.7						(0.1)
Net change in cash, cash equivalents and restricted cash						190.9						2.4
Cash, cash equivalents and restricted cash at beginning of period						31.0						40.1
Cash, cash equivalents and restricted cash at end of period			$			221.9			$			42.5

8

KELLY SERVICES, INC. AND SUBSIDIARIES
REVENUE FROM SERVICES
(UNAUDITED)
(In millions of dollars)
						Second Quarter (Americas, International and GTS)
																		%						CC %
						2020						2019						Change						Change
Americas
United States			$			700.1			$			991.3						(29.4)			%			(29.4)			%
Canada						25.6						33.2						(22.7)						(19.9)
Mexico						22.5						29.7						(24.2)						(7.7)
Puerto Rico						20.0						19.6						1.9						1.9
Brazil						6.1						8.2						(25.1)						(0.1)
Total Americas						774.3						1,082.0						(28.4)						(27.7)
EMEA
Switzerland						47.4						49.9						(4.9)						(8.6)
France						39.9						64.6						(38.3)						(37.1)
Russia						29.3						28.8						1.4						13.9
Portugal						23.8						46.7						(49.2)						(48.1)
United Kingdom						17.8						30.5						(41.6)						(39.5)
Italy						13.3						20.7						(35.7)						(34.5)
Germany						7.1						9.9						(27.8)						(26.3)
Ireland						4.1						10.9						(61.9)						(61.1)
Other						11.5						16.9						(32.1)						(27.0)
Total EMEA						194.2						278.9						(30.4)						(28.6)
Total APAC						6.8						6.6						4.4						10.8
Total Kelly Services, Inc.			$			975.3			$			1,367.5						(28.7)			%			(27.7)			%

9

KELLY SERVICES, INC. AND SUBSIDIARIES
REVENUE FROM SERVICES
(UNAUDITED)
(In millions of dollars)
						June Year to Date (Americas, International and GTS)
																		%						CC %
						2020						2019						Change						Change
Americas
United States			$			1,628.6			$			2,010.2						(19.0)			%			(19.0)			%
Canada						58.4						66.2						(11.7)						(10.0)
Mexico						51.2						57.2						(10.4)						(0.5)
Puerto Rico						37.7						38.8						(2.8)						(2.8)
Brazil						15.2						16.7						(8.5)						9.5
Total Americas						1,791.1						2,189.1						(18.2)						(17.7)
EMEA
France						92.4						128.9						(28.3)						(26.5)
Switzerland						91.6						99.4						(7.8)						(11.0)
Portugal						67.4						91.5						(26.3)						(24.4)
Russia						61.4						54.2						13.1						19.9
United Kingdom						40.1						56.7						(29.3)						(27.5)
Italy						28.0						41.3						(32.2)						(30.4)
Germany						15.1						21.0						(27.9)						(26.0)
Ireland						9.1						21.0						(56.6)						(55.5)
Other						26.7						34.9						(23.6)						(18.6)
Total EMEA						431.8						548.9						(21.3)						(19.7)
Total APAC						13.5						12.1						11.7						18.5
Total Kelly Services, Inc.			$			2,236.4			$			2,750.1						(18.7)			%			(18.0)			%

10

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
SECOND QUARTER
(UNAUDITED)
(In millions of dollars)
			2020																																										2019
SG&A Expenses:			As Reported																		Restructuring(4)						Adjusted						Adjusted
Americas Staffing			$	69.7																	$	0.1					$	69.8					$	93.8
Global Talent Solutions			64.2																		0.1						64.3						74.3
International Staffing			25.1																		—						25.1						32.6
Corporate			19.5																		—						19.5						22.0
Intersegment			(0.4)																		—						(0.4)						(0.6)
Total Company			$	178.1																	$	0.2					$	178.3					$	222.1

			2020																																																2019
Earnings (loss) from Operations:			As Reported																		Restructuring(4)												Adjusted						Adjusted
Americas Staffing			$	(6.3)																	$	(0.1)											$	(6.4)					$	15.0
Global Talent Solutions			38.8																		(0.1)												38.7						25.4
International Staffing			(1.9)																		—												(1.9)						3.5
Corporate			(19.5)																		—												(19.5)						(22.0)
Total Company			$	11.1																	$	(0.2)											$	10.9					$	21.9

			2019
SG&A Expenses:			As Reported						Gain on sale of assets(3)						Restructuring(4)						Adjusted
Americas Staffing			$	93.2					$	—					$	0.6					$	93.8
Global Talent Solutions			74.3						—						—						74.3
International Staffing			32.6						—						—						32.6
Corporate			22.0						—						—						22.0
Intersegment			(0.6)						—						—						(0.6)
Total Company			$	221.5					$	—					$	0.6					$	222.1
			2019
Earnings (loss) from Operations:			As Reported						Gain on sale of assets(3)						Restructuring(4)						Adjusted
Americas Staffing			$	15.6					$	—					$	(0.6)					$	15.0
Global Talent Solutions			25.4						—						—						25.4
International Staffing			3.5						—						—						3.5
Corporate			(9.7)						(12.3)						—						(22.0)
Total Company			$	34.8					$	(12.3)					$	(0.6)					$	21.9

11

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
JUNE YEAR TO DATE
(UNAUDITED)
(In millions of dollars)
			2020																																																						2019
SG&A Expenses:			As Reported						Goodwill impairment(1)						Gain on sale of assets(3)						Restructuring(4)						Adjusted						Adjusted
Americas Staffing			$	163.2					$	—					$	—					$	(5.5)					$	157.7					$	188.7
Global Talent Solutions			137.9						—						—						(0.8)						137.1						149.0
International Staffing			54.4						—						—						(1.1)						53.3						63.9
Corporate			42.9						—						—						(1.1)						41.8						50.2
Intersegment			(0.8)						—						—						—						(0.8)						(1.2)
Total Company			$	397.6					$	—					$	—					$	(8.5)					$	389.1					$	450.6

			2020																																																						2019
Earnings (loss) from Operations:			As Reported						Goodwill impairment(1)						Gain on sale of assets(3)						Restructuring(4)						Adjusted						Adjusted
Americas Staffing			$	(6.2)					$	—					$	—					$	5.5					$	(0.7)					$	37.3
Global Talent Solutions			65.3						—						—						0.8						66.1						51.1
International Staffing			(1.3)						—						—						1.1						(0.2)						6.8
Corporate			(158.5)						147.7						(32.1)						1.1						(41.8)						(50.2)
Total Company			$	(100.7)					$	147.7					$	(32.1)					$	8.5					$	23.4					$	45.0

			2019
SG&A Expenses:			As Reported						Gain on sale of assets(3)						Restructuring(4)						Adjusted
Americas Staffing			$	194.4					$	—					$	(5.7)					$	188.7
Global Talent Solutions			149.0						—						—						149.0
International Staffing			63.9						—						—						63.9
Corporate			50.2						—						—						50.2
Intersegment			(1.2)						—						—						(1.2)
Total Company			$	456.3					$	—					$	(5.7)					$	450.6
			2019
Earnings (loss) from Operations:			As Reported						Gain on sale of assets(3)						Restructuring(4)						Adjusted
Americas Staffing			$	31.6					$	—					$	5.7					$	37.3
Global Talent Solutions			51.1						—						—						51.1
International Staffing			6.8						—						—						6.8
Corporate			(37.9)						(12.3)						—						(50.2)
Total Company			$	51.6					$	(12.3)					$	5.7					$	45.0

12

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES (continued)
(UNAUDITED)
(In millions of dollars except per share data)
						Second Quarter																		June Year to Date
						2020						2019						2020						2019
Income tax expense (benefit)						$	0.9					$	12.7					$	(35.3)					$	19.1
Taxes on goodwill impairment charge(1)						—						—						23.0						—
Taxes on investment in Persol Holdings(2)						(9.0)						(18.7)						14.8						(22.8)
Taxes on gain on sale of assets(3)						—						(3.3)						(8.1)						(3.3)
Taxes on restructuring charges(4)						—						(0.1)						2.2						1.5
Adjusted income tax expense (benefit)						$	(8.1)					$	(9.4)					$	(3.4)					$	(5.5)
						Second Quarter																		June Year to Date
						2020						2019						2020						2019
Net earnings (loss)						$	41.1					$	83.8					$	(112.1)					$	105.9
Goodwill impairment charge, net of taxes(1)						—						—						124.7						—
(Gain) loss on investment in Persol Holdings, net of taxes(2)						(20.6)						(42.5)						33.4						(51.6)
Gain on sale of assets, net of taxes(3)						—						(9.0)						(24.0)						(9.0)
Restructuring charges, net of taxes(4)						(0.2)						(0.5)						6.3						4.2
Adjusted net earnings						$	20.3					$	31.8					$	28.3					$	49.5
						Second Quarter																		June Year to Date
						2020						2019						2020						2019
						Per Share																		Per Share
Net earnings (loss)						$	1.04					$	2.12					$	(2.86)					$	2.68
Goodwill impairment charge, net of taxes(1)						—						—						3.18						—
(Gain) loss on investment in Persol Holdings, net of taxes(2)						(0.52)						(1.07)						0.85						(1.31)
Gain on sale of assets, net of taxes(3)						—						(0.23)						(0.61)						(0.23)
Restructuring charges, net of taxes(4)						—						(0.01)						0.16						0.11
Adjusted net earnings						$	0.51					$	0.81					$	0.72					$	1.25

Note: Earnings per share amounts for each quarter are required to be computed independently and may not equal the amounts computed for the total year.

13

KELLY SERVICES, INC. AND SUBSIDIARIES

RECONCILIATION OF NON-GAAP MEASURES

(UNAUDITED)

Management believes that the non-GAAP (Generally Accepted Accounting Principles) information excluding the 2020 goodwill impairment charge, the 2020 and 2019 gains and losses on the investment in Persol Holdings, the 2020 and 2019 gains on sale of assets, and the 2020 and 2019 restructuring charges, are useful to understand the Company's fiscal 2020 financial performance and increases comparability. Specifically, Management believes that removing the impact of these items allows for a meaningful comparison of current period operating performance with the operating results of prior periods. Management also believes that such measures are used by those analyzing performance of companies in the staffing industry to compare current performance to prior periods and to assess future performance.

These non-GAAP measures may have limitations as analytical tools because they exclude items which can have a material impact on cash flow and earnings per share. As a result, Management considers these measures, along with reported results, when it reviews and evaluates the Company's financial performance. Management believes that these measures provide greater transparency to investors and provide insight into how Management is evaluating the Company's financial performance. Non-GAAP measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

(1) The goodwill impairment charge is the result of an interim impairment test the Company performed during the first quarter of 2020, due to a triggering event caused by a decline in the Company's common stock price.

(2) The gains and losses on the investment in Persol Holdings represent the change in fair value of the investment during the period presented and the related tax expense and benefit.

(3) Gain on sale of assets in 2020 represents the excess of the proceeds over the cost of the headquarters properties sold during the first quarter of 2020. Gain on sale of assets in 2019 primarily represents the excess of the proceeds over the cost of an unused parcel of land located near the Company headquarters sold during the second quarter of 2019.

(4) Restructuring charges in 2020 represent severance costs and lease terminations in preparation for the new operating model to be in place in the third quarter of 2020. Restructuring charges in 2019 represent severance costs primarily related to U.S. branch-based staffing operations.

14