Exhibit 99.1

KELLY® REPORTS

FOURTH-QUARTER AND FULL-YEAR EARNINGS

Financial Highlights

•Q4 revenue down 7.2% year-over-year as sequential quarter-over-quarter improvement continues

•Q4 operating earnings of $9.5 million, or earnings of $13.9 million as adjusted, compared to earnings of $28.8 million in the corresponding quarter of 2019 as adjusted

•Q4 earnings per share of $0.59 or $0.41 as adjusted, compared to $0.71 in the corresponding quarter of 2019 as adjusted

•Full year 2020 operating loss of $93.6 million, or earnings of $44.3 million as adjusted, compared to earnings of $90.8 million last year as adjusted

TROY, Mich. (February 18, 2021) – Kelly (Nasdaq: KELYA) (Nasdaq: KELYB), a leading specialty talent solutions provider, today announced results for the fourth quarter and full year of 2020. The company’s 2020 fiscal year is a 53-week year and the fourth quarter of 2020 includes 14 weeks.

Peter Quigley, president and chief executive officer, announced revenue for the fourth quarter of 2020 totaled $1.2 billion, a 7.2% decline compared to the corresponding quarter of 2019. Revenue declined year-over-year in the quarter as the continuing effects of the COVID-19 crisis impacted customer demand.

Earnings from operations in the fourth quarter of 2020 totaled $9.5 million, compared to earnings of $13.1 million reported in the fourth quarter of 2019. The 2020 fourth-quarter results include a $4.4 million restructuring charge. The 2019 fourth-quarter results included a $15.8 million asset impairment charge related to a technology development project. On an adjusted basis, earnings from operations were $13.9 million compared to $28.8 million in the corresponding quarter of 2019.

The operating loss for the full year of 2020 totaled $93.6 million, compared to earnings of $81.8 million reported for the full year of 2019. The 2020 full-year results include a $147.7 million goodwill impairment charge, $12.8 million of restructuring charges, a $9.5 million customer dispute charge and a $32.1 million gain on sale of assets. The 2019 full-year results included a $15.8 million asset impairment charge related to a technology development project, restructuring charges of $5.5 million, and a gain on sale of assets of $12.3 million. On an adjusted basis, earnings from operations were $44.3 million compared to $90.8 million in 2019.

Diluted earnings per share in the fourth quarter of 2020 were $0.59 compared to $0.43 per share in the fourth quarter of 2019. Included in the earnings per share in the fourth quarter of 2020 is a non-cash gain, net of tax, on Kelly’s investment in Persol Holdings common stock of $0.26, partially offset by a loss of $0.08 related to restructuring charges, net of tax. Included in the earnings per share in the fourth quarter of 2019 is a $0.30 per share charge for an asset impairment charge related to a technology development project, net of tax, and $0.01 from a non-cash gain per share on Kelly’s investment in Persol Holdings common stock, net of tax. On an adjusted basis, earnings per share were $0.41 in the fourth quarter of 2020 compared to $0.71 in the corresponding quarter of 2019.

Diluted losses per share for the full year of 2020 were $1.83 compared to earnings per share of $2.84 for the full year of 2019. Included in the loss per share for the full year of 2020 is a non-cash goodwill impairment charge, net of tax, of $3.17; restructuring charges, net of tax, of $0.24; a $0.17 customer dispute charge, net of tax; and a non-cash loss, net of tax, on Kelly’s investment in Persol Holdings common stock of $0.29, partially offset by a gain of $0.61 related to the gain on sale of assets, net of tax. Included in the earnings per share for the full year of 2019 is $0.63 from a non-cash gain per share on Kelly’s investment in Persol Holdings common stock, net of tax; and a $0.23 gain on sale of assets, net of tax, partially offset by a $0.30 loss per share related to asset impairment charges, net of tax and a $0.10 per share restructuring charge, net of tax. On an adjusted basis, earnings per share were $1.44 for the full year of 2020 compared to $2.38 for the full year of 2019.

“Each of Kelly’s five operating segments reported sequential revenue improvement in the fourth quarter, continuing the trend of top-line growth we’ve seen each quarter since the low point of the COVID-19 crisis,” said Quigley. “Our OCG segment showed particular strength and resilience, surpassing pre-COVID revenue levels. These results reflect gradually improving economic conditions, coupled with traction from our specialization strategy and the operating model we implemented mid-2020. Looking ahead, we’re optimistic that we’ll benefit from a recovery that gains momentum throughout 2021, with

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pipelines for both organic and inorganic growth strengthening. We’re confident we’ve positioned Kelly to pursue profitable growth coming out of the pandemic and well into the future.”

In conjunction with its fourth 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 a.m. ET on February 18 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 “#”

A recording of the conference call will be available after 2:30 p.m. ET on February 18, 2021 at (866) 207-1041 (toll-free) and (402) 970-0847 (caller-paid). The access code is 4671104#. 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, changing market and economic conditions, the recent novel coronavirus (COVID-19) outbreak, competitive market pressures including pricing and technology introductions and disruptions, disruption in the labor market and weakened demand for human capital resulting from technological advances, competition law risks, the impact of changes in laws and regulations (including federal, state and international tax laws), unexpected changes in claim trends on workers’ compensation, unemployment, disability and medical benefit plans, or the risk of additional tax liabilities in excess of our estimates, our ability to achieve our business strategy, our ability to successfully develop new service offerings, 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, the risk of damage to our brand, our exposure to risks associated with services outside traditional staffing, including business process outsourcing, services of licensed professionals and services connecting talent to independent work, our increasing dependency on third parties for the execution of critical functions, our ability to effectively implement and manage our information technology strategy, the risks associated with past and future acquisitions, including risk of related impairment of goodwill and intangible assets, exposure to risks associated with investments in equity affiliates including PersolKelly Pte. Ltd., 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, our ability to sustain critical business applications through our key data centers, 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 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 undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company’s expectations.

About Kelly®

Kelly Services, 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 370,000 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 2020 was $4.5 billion. Visit kellyservices.com and let us help with what’s next for you.

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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 14 WEEKS ENDED JANUARY 3, 2021 AND 13 WEEKS ENDED DECEMBER 29, 2019
(UNAUDITED)
(In millions of dollars except per share data)
																								%						CC %
						2020						2019						Change						Change						Change
Revenue from services			$			1,241.4			$			1,337.8			$			(96.4)						(7.2)			%			(7.8)			%
Cost of services						1,017.3						1,092.7						(75.4)						(6.9)
Gross profit						224.1						245.1						(21.0)						(8.5)						(9.1)
Selling, general and administrative expenses						214.6						216.2						(1.6)						(0.7)						(1.5)
Asset impairment charge						—						15.8						(15.8)						NM
Earnings from operations						9.5						13.1						(3.6)						(27.2)
Gain (loss) on investment in Persol Holdings						14.8						0.7						14.1						NM
Other income (expense), net						(0.2)						(0.1)						(0.1)						(109.1)
Earnings before taxes and equity in net earnings (loss) of affiliate						24.1						13.7						10.4						76.1
Income tax expense (benefit)						2.5						(5.9)						8.4						143.1
Net earnings before equity in net earnings (loss) of affiliate						21.6						19.6						2.0						9.9
Equity in net earnings (loss) of affiliate						1.8						(2.6)						4.4						NM
Net earnings			$			23.4			$			17.0			$			6.4						37.6			%
Basic earnings per share			$			0.59			$			0.43			$			0.16						37.2			%
Diluted earnings per share			$			0.59			$			0.43			$			0.16						37.2			%
STATISTICS:
Permanent placement income (included in revenue from services)			$			10.8			$			13.4			$			(2.6)						(19.0)			%			(19.6)			%
Gross profit rate						18.1			%			18.3			%			(0.2)			pts.
Conversion rate						4.2						5.3						(1.1)
% Return:
Earnings from operations						0.8						1.0						(0.2)
Net earnings						1.9						1.3						0.6
Effective income tax rate						10.6			%			(43.2)			%			53.8			pts.
Average number of shares outstanding (millions):
Basic						39.3						39.1
Diluted						39.4						39.3

3

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE 53 WEEKS ENDED JANUARY 3, 2021 AND 52 WEEKS ENDED DECEMBER 29, 2019
(UNAUDITED)
(In millions of dollars except per share data)
																								%						CC %
						2020						2019						Change						Change						Change
Revenue from services			$			4,516.0			$			5,355.6			$			(839.6)						(15.7)			%			(15.5)			%
Cost of services						3,688.4						4,387.2						(698.8)						(15.9)
Gross profit						827.6						968.4						(140.8)						(14.5)						(14.4)
Selling, general and administrative expenses						805.6						883.1						(77.5)						(8.8)						(8.7)
Goodwill impairment charge						147.7						—						147.7						NM
Gain on sale of assets						(32.1)						(12.3)						(19.8)						(161.6)
Asset impairment charge						—						15.8						(15.8)						NM
Earnings (loss) from operations						(93.6)						81.8						(175.4)						NM
Gain (loss) on investment in Persol Holdings						(16.6)						35.8						(52.4)						NM
Other income (expense), net						3.4						(1.2)						4.6						369.5
Earnings (loss) before taxes and equity in net earnings (loss) of affiliate						(106.8)						116.4						(223.2)						NM
Income tax expense (benefit)						(34.0)						0.4						(34.4)						NM
Net earnings (loss) before equity in net earnings (loss) of affiliate						(72.8)						116.0						(188.8)						NM
Equity in net earnings (loss) of affiliate						0.8						(3.6)						4.4						NM
Net earnings (loss)			$			(72.0)			$			112.4			$			(184.4)						NM			%
Basic earnings (loss) per share			$			(1.83)			$			2.85			$			(4.68)						NM			%
Diluted earnings (loss) per share			$			(1.83)			$			2.84			$			(4.67)						NM			%
STATISTICS:
Permanent placement income (included in revenue from services)			$			39.7			$			60.1			$			(20.4)						(33.9)			%			(33.6)			%
Gross profit rate						18.3			%			18.1			%			0.2			pts.
Conversion rate						(11.3)						8.4						(19.7)
% Return:
Earnings (loss) from operations						(2.1)						1.5						(3.6)
Net earnings (loss)						(1.6)						2.1						(3.7)
Effective income tax rate						31.8			%			0.3			%			31.5			pts.
Average number of shares outstanding (millions):
Basic						39.3						39.1
Diluted						39.3						39.2

4

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT
(UNAUDITED)
(In millions of dollars)
						Fourth Quarter
						2020 (14 Wks)									2019 (13 Wks)						% Change						CC % Change
Professional & Industrial
Revenue from services			$			511.7						$			544.7						(6.1)			%			(6.1)			%
Gross profit						89.1									96.8						(8.0)						(8.1)
SG&A expenses excluding restructuring charges						76.5									79.2						(3.5)						(3.6)
Restructuring charges						1.7									(0.1)						NM						NM
Total SG&A expenses						78.2									79.1						(1.2)						(1.2)
Earnings (loss) from operations						10.9									17.7						(38.5)
Earnings (loss) from operations excluding restructuring charges						12.6									17.6						(28.2)
Gross profit rate						17.4			%						17.8			%			(0.4)			pts.
Science, Engineering & Technology
Revenue from services			$			257.6						$			272.1						(5.3)			%			(5.3)			%
Gross profit						53.4									54.4						(1.7)						(1.8)
SG&A expenses excluding restructuring charges						35.2									35.3						(0.1)						(0.1)
Restructuring charges						0.1									—						NM						NM
Total SG&A expenses						35.3									35.3						0.2						0.2
Earnings (loss) from operations						18.1									19.1						(5.3)
Earnings (loss) from operations excluding restructuring charges						18.2									19.1						(4.8)
Gross profit rate						20.7			%						20.0			%			0.7			pts.
Education
Revenue from services			$			91.8						$			136.8						(32.9)			%			(32.9)			%
Gross profit						13.4									22.1						(39.3)						(39.3)
SG&A expenses excluding restructuring charges						13.3									14.7						(9.4)						(9.4)
Restructuring charges						0.2									—						NM						NM
Total SG&A expenses						13.5									14.7						(8.0)						(8.0)
Earnings (loss) from operations						(0.1)									7.4						NM
Earnings (loss) from operations excluding restructuring charges						0.1									7.4						(99.1)
Gross profit rate						14.6			%						16.1			%			(1.5)			pts.
Outsourcing & Consulting
Revenue from services			$			102.5						$			95.4						7.5			%			6.6			%
Gross profit						32.7									31.6						3.8						2.3
SG&A expenses excluding restructuring charges						28.9									28.4						1.9						0.4
Restructuring charges						0.3									—						NM						NM
Total SG&A expenses						29.2									28.4						2.8						1.3
Earnings (loss) from operations						3.5									3.2						13.2
Earnings (loss) from operations excluding restructuring charges						3.8									3.2						21.4
Gross profit rate						31.9			%						33.1			%			(1.2)			pts.
International
Revenue from services			$			278.0						$			288.9						(3.8)			%			(6.1)			%
Gross profit						35.5									40.2						(11.7)						(13.8)
SG&A expenses excluding restructuring charges						33.2									33.6						(1.0)						(4.8)
Restructuring charges						0.3									—						NM						NM
Total SG&A expenses						33.5									33.6						(0.2)						(4.0)
Earnings (loss) from operations						2.0									6.6						(70.0)
Earnings (loss) from operations excluding restructuring charges						2.3									6.6						(66.1)
Gross profit rate						12.8			%						13.9			%			(1.1)			pts.

5

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT
(UNAUDITED)
(In millions of dollars)
						December Year to Date
						2020 (53 Wks)									2019 (52 Wks)						% Change						CC % Change
Professional & Industrial
Revenue from services			$			1,858.4						$			2,213.4						(16.0)			%			(16.0)			%
Gross profit						330.2									388.4						(15.0)						(15.0)
SG&A expenses excluding restructuring charges						282.6									320.9						(11.9)						(11.9)
Restructuring charges						6.0									5.1						16.8						16.9
Total SG&A expenses						288.6									326.0						(11.5)						(11.4)
Earnings (loss) from operations						41.6									62.4						(33.4)
Earnings (loss) from operations excluding restructuring charges						47.6									67.5						(29.6)
Gross profit rate						17.8			%						17.5			%			0.3			pts.
Science, Engineering & Technology
Revenue from services			$			1,019.1						$			1,131.8						(9.9)			%			(9.9)			%
Gross profit						209.4									226.2						(7.5)						(7.4)
SG&A expenses excluding restructuring charges						133.8									146.3						(8.6)						(8.5)
Restructuring charges						0.6									0.4						74.1						74.4
Total SG&A expenses						134.4									146.7						(8.4)						(8.4)
Earnings (loss) from operations						75.0									79.5						(5.8)
Earnings (loss) from operations excluding restructuring charges						75.6									79.9						(5.4)
Gross profit rate						20.5			%						20.0			%			0.5			pts.
Education
Revenue from services			$			286.9						$			450.7						(36.3)			%			(36.3)			%
Gross profit						42.2									72.0						(41.3)						(41.3)
SG&A expenses excluding restructuring charges						50.2									56.2						(10.6)						(10.6)
Restructuring charges						1.0									—						NM						NM
Total SG&A expenses						51.2									56.2						(8.8)						(8.8)
Earnings (loss) from operations						(9.0)									15.8						NM
Earnings (loss) from operations excluding restructuring charges						(8.0)									15.8						NM
Gross profit rate						14.7			%						16.0			%			(1.3)			pts.
Outsourcing & Consulting
Revenue from services			$			363.5						$			377.7						(3.8)			%			(3.8)			%
Gross profit						119.8									122.3						(2.0)						(2.2)
SG&A expenses excluding restructuring charges						108.0									119.3						(9.5)						(9.8)
Restructuring charges						0.3									—						NM						NM
Total SG&A expenses						108.3									119.3						(9.2)						(9.6)
Earnings (loss) from operations						11.5									3.0						291.3
Earnings (loss) from operations excluding restructuring charges						11.8									3.0						301.7
Gross profit rate						33.0			%						32.4			%			0.6			pts.
International
Revenue from services			$			988.6						$			1,182.5						(16.4)			%			(15.6)			%
Gross profit						126.0									159.5						(21.0)						(20.3)
SG&A expenses excluding restructuring charges						133.5									140.8						(5.1)						(4.6)
Restructuring charges						1.4									—						NM						NM
Total SG&A expenses						134.9									140.8						(4.2)						(3.6)
Earnings (loss) from operations						(8.9)									18.7						NM
Earnings (loss) from operations excluding restructuring charges						(7.5)									18.7						NM
Gross profit rate						12.7			%						13.5			%			(0.8)			pts.

6

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(In millions of dollars)
						Jan. 3, 2021						Dec. 29, 2019
Current Assets
Cash and equivalents			$			223.0			$			25.8
Trade accounts receivable, less allowances of
$13.3 and $12.9, respectively						1,265.2						1,282.2
Prepaid expenses and other current assets						61.4						76.5
Properties held for sale						—						21.2
Total current assets						1,549.6						1,405.7
Noncurrent Assets
Property and equipment, net						41.0						43.1
Operating lease right-of-use assets						83.2						60.4
Deferred taxes						282.0						229.1
Goodwill, net						3.5						127.8
Investment in Persol Holdings						164.2						173.2
Investment in equity affiliate						118.5						117.2
Other assets						319.9						324.1
Total noncurrent assets						1,012.3						1,074.9
Total Assets			$			2,561.9			$			2,480.6
Current Liabilities
Short-term borrowings			$			0.3			$			1.9
Accounts payable and accrued liabilities						536.8						503.6
Operating lease liabilities						19.6						20.1
Accrued payroll and related taxes						293.0						267.6
Accrued workers' compensation and other claims						22.7						25.7
Income and other taxes						53.2						65.2
Total current liabilities						925.6						884.1
Noncurrent Liabilities
Operating lease liabilities						67.5						43.3
Accrued payroll and related taxes						58.5						—
Accrued workers' compensation and other claims						42.2						45.8
Accrued retirement benefits						205.8						187.4
Other long-term liabilities						59.3						55.5
Total noncurrent liabilities						433.3						332.0
Stockholders' Equity
Common stock						40.1						40.1
Treasury stock						(17.1)						(20.9)
Paid-in capital						21.3						22.5
Earnings invested in the business						1,162.9						1,238.6
Accumulated other comprehensive income (loss)						(4.2)						(15.8)
Total stockholders' equity						1,203.0						1,264.5
Total Liabilities and Stockholders' Equity			$			2,561.9			$			2,480.6
Statistics:
Working Capital			$			624.0			$			521.6
Current Ratio						1.7						1.6
Debt-to-capital %						0.0			%			0.1			%
Global Days Sales Outstanding						64						58
Year-to-Date Free Cash Flow			$			170.5			$			82.2

7

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE 53 WEEKS ENDED JANUARY 3, 2021 AND 52 WEEKS ENDED DECEMBER 29, 2019
(UNAUDITED)
(In millions of dollars)
						2020						2019
Cash flows from operating activities:
Net earnings (loss)			$			(72.0)			$			112.4
Adjustments to reconcile net earnings to net cash from operating activities:
Goodwill impairment charge						147.7						—
Deferred income taxes						(57.1)						(18.3)
Depreciation and amortization						24.2						31.6
Operating lease asset amortization						21.1						22.3
Provision for credit losses and sales allowances						12.8						4.1
Stock-based compensation						3.9						5.6
(Gain) loss on investment in Persol Holdings						16.6						(35.8)
(Gain) loss on sale of assets						(32.1)						(12.3)
Asset impairment charge						—						15.8
Equity in net (earnings) loss of PersolKelly Pte. Ltd.						(0.8)						3.6
Other, net						1.4						(0.4)
Changes in operating assets and liabilities, net of acquisitions						120.3						(26.4)
Net cash from operating activities						186.0						102.2
Cash flows from investing activities:
Capital expenditures						(15.5)						(20.0)
Proceeds from sale of assets						55.5						13.8
Acquisition of companies, net of cash received						(39.2)						(86.4)
Proceeds from company-owned life insurance						2.3						3.0
Proceeds from sale of Brazil, net of cash disposed						1.2						—
Proceeds (payments) related to loans to equity affiliate						5.6						(4.4)
Investment in equity securities						(0.2)						(1.0)
Other investing activities						0.1						0.7
Net cash from (used in) investing activities						9.8						(94.3)
Cash flows from financing activities:
Net change in short-term borrowings						(1.7)						(0.3)
Financing lease payments						(2.0)						(0.7)
Dividend payments						(3.0)						(11.9)
Payments of tax withholding for stock awards						(1.2)						(2.5)
Other financing activities						(0.2)						(0.7)
Net cash used in financing activities						(8.1)						(16.1)
Effect of exchange rates on cash, cash equivalents and restricted cash						9.4						(0.9)
Net change in cash, cash equivalents and restricted cash						197.1						(9.1)
Cash, cash equivalents and restricted cash at beginning of year						31.0						40.1
Cash, cash equivalents and restricted cash at end of year			$			228.1			$			31.0

8

KELLY SERVICES, INC. AND SUBSIDIARIES
REVENUE FROM SERVICES
(UNAUDITED)
(In millions of dollars)
						Fourth Quarter
						2020						2019						%						CC %
						(14 Wks)						(13 Wks)						Change						Change
Americas
United States			$			891.0			$			979.1						(9.0)			%			(9.0)			%
Mexico						35.8						34.0						5.3						12.4
Canada						33.8						35.3						(4.2)						(5.3)
Puerto Rico						20.9						17.0						23.8						23.8
Brazil						—						9.0						(100.0)						(100.0)
Total Americas Region						981.5						1,074.4						(8.6)						(8.5)
Europe
France						57.0						60.0						(5.0)						(11.8)
Switzerland						59.2						50.7						16.7						6.6
Portugal						42.6						44.3						(3.9)						(10.7)
Russia						29.9						33.5						(10.8)						6.7
United Kingdom						17.2						21.5						(19.8)						(21.8)
Italy						15.7						16.1						(2.1)						(9.0)
Germany						8.0						9.1						(11.8)						(18.1)
Ireland						5.9						5.0						19.2						10.7
Other						15.9						16.0						(1.0)						(4.6)
Total Europe Region						251.4						256.2						(1.9)						(5.6)
Total Asia-Pacific Region						8.5						7.2						16.9						12.1
Total Kelly Services, Inc.			$			1,241.4			$			1,337.8						(7.2)			%			(7.8)			%

9

KELLY SERVICES, INC. AND SUBSIDIARIES
REVENUE FROM SERVICES
(UNAUDITED)
(In millions of dollars)
						December Year to Date
						2020						2019						%						CC %
						(53 Wks)						(52 Wks)						Change						Change
Americas
United States			$			3,260.2			$			3,892.5						(16.2)			%			(16.2)			%
Canada						122.5						136.1						(10.0)						(9.2)
Mexico						114.4						123.6						(7.5)						2.1
Puerto Rico						77.0						74.6						3.3						3.3
Brazil						17.0						34.1						(50.1)						(39.5)
Total Americas Region						3,591.1						4,260.9						(15.7)						(15.3)
Europe
France						198.2						248.6						(20.3)						(21.9)
Switzerland						200.4						200.7						(0.2)						(5.9)
Portugal						141.7						179.8						(21.2)						(22.8)
Russia						118.5						117.6						0.8						12.0
United Kingdom						73.7						103.1						(28.5)						(28.6)
Italy						58.2						75.9						(23.3)						(24.7)
Germany						30.1						41.6						(27.7)						(28.9)
Ireland						19.9						33.1						(39.9)						(41.2)
Other						54.6						67.5						(19.2)						(17.8)
Total Europe Region						895.3						1,067.9						(16.2)						(16.8)
Total Asia-Pacific Region						29.6						26.8						10.1						11.3
Total Kelly Services, Inc.			$			4,516.0			$			5,355.6						(15.7)			%			(15.5)			%

10

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
FOURTH QUARTER
(UNAUDITED)
(In millions of dollars)
			2020																		2019
SG&A Expenses:			As Reported																								Restructuring(5)						Adjusted						Adjusted
Professional & Industrial			$	78.2																							$	(1.7)					$	76.5					$	79.2
Science, Engineering & Technology			35.3																								(0.1)						35.2						35.3
Education			13.5																								(0.2)						13.3						14.7
Outsourcing & Consulting			29.2																								(0.3)						28.9						28.4
International			33.5																								(0.3)						33.2						33.6
Corporate			24.9																								(1.8)						23.1						25.1
Total Company			$	214.6																							$	(4.4)					$	210.2					$	216.3

			2020																		2019
Earnings (loss) from Operations:			As Reported																								Restructuring(5)						Adjusted						Adjusted
Professional & Industrial			$	10.9																							$	1.7					$	12.6					$	17.6
Science, Engineering & Technology			18.1																								0.1						18.2						19.1
Education			(0.1)																								0.2						0.1						7.4
Outsourcing & Consulting			3.5																								0.3						3.8						3.2
International			2.0																								0.3						2.3						6.6
Corporate			(24.9)																								1.8						(23.1)						(25.1)
Total Company			$	9.5																							$	4.4					$	13.9					$	28.8

11

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
FOURTH QUARTER
(UNAUDITED)
(In millions of dollars)
			2019
SG&A Expenses:			As Reported																								Restructuring(5)						Adjusted
Professional & Industrial			$	79.1																							$	0.1					$	79.2
Science, Engineering & Technology			35.3																								—						35.3
Education			14.7																								—						14.7
Outsourcing & Consulting			28.4																								—						28.4
International			33.6																								—						33.6
Corporate			25.1																								—						25.1
Intersegment			—																								—						—
Total Company			$	216.2																							$	0.1					$	216.3

			2019
Earnings (loss) from Operations:			As Reported																								Restructuring(5)						Asset Impairment Charge(6)						Adjusted
Professional & Industrial			$	17.7																							$	(0.1)					$	—					$	17.6
Science, Engineering & Technology			19.1																								—						—						19.1
Education			7.4																								—						—						7.4
Outsourcing & Consulting			3.2																								—						—						3.2
International			6.6																								—						—						6.6
Corporate			(40.9)																								—						15.8						(25.1)
Total Company			$	13.1																							$	(0.1)					$	15.8					$	28.8

12

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
DECEMBER YEAR TO DATE
(UNAUDITED)
(In millions of dollars)
			2020																																				2019
SG&A Expenses:			As Reported						Goodwill impairment(1)						Gain on sale of assets(3)						Customer Dispute(4)						Restructuring(5)						Adjusted						Adjusted
Professional & Industrial			$	288.6					$	—					$	—					$	—					$	(6.0)					$	282.6					$	320.9
Science, Engineering & Technology			134.4						—						—						—						(0.6)						133.8						146.3
Education			51.2						—						—						—						(1.0)						50.2						56.2
Outsourcing & Consulting			108.3						—						—						—						(0.3)						108.0						119.3
International			134.9						—						—						(9.5)						(1.4)						124.0						140.8
Corporate			88.2						—						—						—						(3.5)						84.7						94.1
Total Company			$	805.6					$	—					$	—					$	(9.5)					$	(12.8)					$	783.3					$	877.6

			2020																																				2019
Earnings (loss) from Operations:			As Reported						Goodwill impairment(1)						Gain on sale of assets(3)						Customer Dispute(4)						Restructuring(5)						Adjusted						Adjusted
Professional & Industrial			$	41.6					$	—					$	—					$	—					$	6.0					$	47.6					$	67.5
Science, Engineering & Technology			75.0						—						—						—						0.6						75.6						79.9
Education			(9.0)						—						—						—						1.0						(8.0)						15.8
Outsourcing & Consulting			11.5						—						—						—						0.3						11.8						3.0
International			(8.9)						—						—						9.5						1.4						2.0						18.7
Corporate			(203.8)						147.7						(32.1)						—						3.5						(84.7)						(94.1)
Total Company			$	(93.6)					$	147.7					$	(32.1)					$	9.5					$	12.8					$	44.3					$	90.8

13

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
DECEMBER YEAR TO DATE
(UNAUDITED)
(In millions of dollars)
			2019
SG&A Expenses:			As Reported																								Restructuring(5)						Adjusted
Professional & Industrial			$	326.0																							$	(5.1)					$	320.9
Science, Engineering & Technology			146.7																								(0.4)						146.3
Education			56.2																								—						56.2
Outsourcing & Consulting			119.3																								—						119.3
International			140.8																								—						140.8
Corporate			94.1																								—						94.1
Total Company			$	883.1																							$	(5.5)					$	877.6

			2019
Earnings (loss) from Operations:			As Reported												Gain on sale of assets(3)												Restructuring(5)						Asset Impairment Charge(6)						Adjusted
Professional & Industrial			$	62.4											$	—											$	5.1					$	—					$	67.5
Science, Engineering & Technology			79.5												—												0.4						—						79.9
Education			15.8												—												—						—						15.8
Outsourcing & Consulting			3.0												—												—						—						3.0
International			18.7												—												—						—						18.7
Corporate			(97.6)												(12.3)												—						15.8						(94.1)
Total Company			$	81.8											$	(12.3)											$	5.5					$	15.8					$	90.8

14

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES (continued)
(UNAUDITED)
(In millions of dollars except per share data)
						Fourth Quarter												December Year to Date
						2020						2019						2020						2019
Income tax expense (benefit)						$	2.5					$	(5.9)					$	(34.0)					$	0.4
Taxes on goodwill impairment charge(1)						—						—						23.0						—
Taxes on investment in Persol Holdings(2)						(4.5)						(0.3)						5.1						(11.0)
Taxes on gain on sale of assets(3)						—						—						(8.1)						(3.3)
Taxes on customer dispute(4)						—						—						2.8						—
Taxes on restructuring charges(5)						1.0						(0.1)						3.2						1.4
Taxes on asset impairment charge(6)						—						4.0						—						4.0
Adjusted income tax expense (benefit)						$	(1.0)					$	(2.3)					$	(8.0)					$	(8.5)
						Fourth Quarter												December Year to Date
						2020						2019						2020						2019
Net earnings (loss)						$	23.4					$	17.0					$	(72.0)					$	112.4
Goodwill impairment charge, net of taxes(1)						—						—						124.7						—
(Gain) loss on investment in Persol Holdings, net of taxes(2)						(10.3)						(0.4)						11.5						(24.8)
(Gain) loss on sale of assets, net of taxes(3)						—						—						(23.9)						(9.0)
Customer dispute, net of taxes(4)						—						—						6.7						—
Restructuring charges, net of taxes(5)						3.4						—						9.6						4.1
Asset impairment charge, net of taxes(6)						—						11.8						—						11.8
Adjusted net earnings						$	16.5					$	28.4					$	56.6					$	94.5
						Fourth Quarter												December Year to Date
						2020						2019						2020						2019
						Per Share												Per Share
Net earnings (loss)						$	0.59					$	0.43					$	(1.83)					$	2.84
Goodwill impairment charge, net of taxes(1)						—						—						3.17						—
(Gain) loss on investment in Persol Holdings, net of taxes(2)						(0.26)						(0.01)						0.29						(0.63)
Gain on sale of assets, net of taxes(3)						—						—						(0.61)						(0.23)
Customer dispute, net of taxes(4)						—						—						0.17						—
Restructuring charges, net of taxes(5)						0.08						—						0.24						0.10
Asset impairment charge, net of taxes(6)						—						0.30						—						0.30
Adjusted net earnings						$	0.41					$	0.71					$	1.44					$	2.38

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.

15

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, the 2020 customer dispute, the 2020 and 2019 restructuring charges and the 2019 asset impairment charge 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 primarily 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)Customer dispute represents a non-cash charge in Mexico to increase the reserve against a long-term receivable from a former customer based on an updated probability of loss assessment.

(5)Restructuring charges in 2020 represent severance costs and lease terminations in the first quarter of 2020 in preparation for the new operating model adopted in the third quarter of 2020 and additional severance costs in the fourth quarter of 2020 to provide sustainable cost reductions as a result of the continuing COVID-19 demand disruption. Restructuring charges in 2019 represent severance costs primarily related to U.S. branch-based staffing operations.

(6)Asset impairment charge in 2019 represents the write-off of previously capitalized costs associated with a U.S. front and middle office technology development project that we determined we would not complete in order to enhance and expand a technology platform already in existence.

16