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INVESTOR OVERVIEW February 2026 Copyright © 2026 ADP, Inc.
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DISCLAIMERS FORWARD-LOOKING STATEMENTS This document and other written or oral statements made from time to time by ADP may contain “forward -looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words like “outlook,” “expects,” “assumes,” “projects,” “anticipates,” “estimates,” “we believe,” “could,” “is designed to” and other words of simi lar meaning, are forward-looking statements. These statements are based on management’s expectations and assumptions and depend upon or refer to future events or conditions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that coul d cause actual results to differ materially from those contemplated by the forward -looking statements or that could contribute to such difference include: ADP's success in obtaining and retaining clients, and selling additional services to clients; the pricing of products and services; the success of our new s olutions; our ability to respond successfully to changes in technology, including artificial intelligence; compliance with existing or new legislation or regu lations; changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interes t rate and foreign currency trends and inflation; competitive conditions; our ability to maintain our current credit ratings and the impact on our funding costs and profitability; security or cyber breaches, fraudulent acts, and system interruptions and failures; employment and wage levels; availability of skilled associa tes; the impact of new acquisitions and divestitures; the adequacy, effectiveness and success of our business transformation initiatives; the impact of any uncertainties related to major natural disasters or catastrophic events; and supply -chain disruptions. ADP disclaims any obligation to update any forward -looking statements, whether as a result of new information, future events or otherwise, except as required by law. These risks and uncertainties, along with the risk fa ctors discussed under “Item 1A. Risk Factors” of our most recent Annual Report on Form 10 -K, and in other written or oral statements m ade from time to time by ADP, should be considered in evaluating any forward -looking statements contained herein. This presentation contains non-GAAP financial metrics, including Adjusted EBIT margin and adjusted diluted earnings per share. F or a discussion and reconciliation of historic non -GAAP financial metrics to their closest comparable GAAP financial metrics, see our earnings relea ses for the applicable periods presented, available at adp.investors.com or sec.gov. We have not provided a reconciliation of our revenue outlook (in organi c constant currency), adjusted EBIT margin outlook or adjusted earnings per share outlook to their most comparable GAAP measures for such years because it w ould be potentially misleading and not practical given the difficulty of projecting event -driven transactional or other non -core operating items that are included in the GAAP metrics, including gains/losses on sales of businesses and assets and certain income tax adjustments. The reconciliations pro vided in earnings releases prepared by ADP are indicative of the reconciliation that will be prepared upon completion of the periods covered by the non -GAAP medium-term objectives. NON-GAAP MEASURES 2 Copyright © 2026 ADP, Inc.
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80%+ of Fortune 500 are clients 42M+ employees paid in 140+ countries and territories 1.1M+ clients $21B FY25 revenue $3.3T in client funds moved in US 78M employee tax statements processed 67K ADP associates 14M+ monthly users on app Data as of FY25 3 IS THE WORLD’S LARGEST HCM ORGANIZATION Copyright © 2026 ADP, Inc. 3
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Time Talent Payroll Benefits SUPPORTING EVERY CLIENT HCM NEED 4 HR HRO Retirement Compliance Copyright © 2026 ADP, Inc.
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SUPPORTING EVERY CLIENT SIZE Up-Market 1,000+ EEs Mid-Market 50-999 EEs Small Business 1-49 Employees (EEs) 5 Copyright © 2026 ADP, Inc.
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140+ Countries and Territories SUPPORTING EVERY CLIENT LOCATION 6 Mid-Market 50-999 EEs Small Business 1-49 Employees (EEs) Copyright © 2026 ADP, Inc.
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TRACK RECORD OF INNOVATION AND FIRSTS 1973 ADP International 2000 FIRST global cloud-based HCM solution 2009 FIRST HCM Mobile App 2014 FIRST HCM Marketplace 2018 FIRST digital pay solution 2023 Launched API Central 1962 ADP leases its first IBM computers 1998 FIRST cloud- based payroll solution 2006 National Employment Report (NER) 2012 ADP Data Cloud introduced 2021 FIRST app- based conversational payroll solution 2024 Deployed ADP Assist across platforms Launched ADP Lyric HCM Note: Timeline is sequential and may not be to scale. 7 Copyright © 2026 ADP, Inc.
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SCALABLE HCM OFFERINGS WITH GLOBAL REACH 8 Outside of the United States ADP Lyric HCMADP iHCM United States Small Business 1 – 49 EEs Mid-Market 50 – 999 EEs Up-Market 1,000 EEs+ ADP Assist ADP WorkForce Suite ADP Marketplace ADP Ventures ADP Ecosystem ADP RUN ADP Workforce Now ADP Next Gen Payroll ADP Global Payroll ADP OneData ADP Lyric HCM Copyright © 2026 ADP, Inc.
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$2.5B in worldwide new business bookings 8.5K Quota-carrying sellers 50%+ of new logos sold through partnership 140+ Countries and territories with sales coverage 200K+ New logos sold annually 9All metrics as of FY24 OUR GO-TO-MARKET SCALE & REACH IS UNPARALLELED Copyright © 2026 ADP, Inc.
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DIVERSIFIED REVENUE PORTFOLIO PEO 32% Small Business 18% Major Accounts 15% National Accounts 6% International 14% ES HRO 7% Complementary Solutions 8% $6.2B PEO $3.4B Small Business $2.9B Major Accounts $2.6B International $1.6B Complementary Solutions $1.2B National Accounts $1.3B ES HRO 1 See Appendix for a brief overview of these different businesses. 2 PEO includes zero-margin benefits pass-through revenue. 10 FY24 Revenue Portfolio OUR $19.2B 1 2 Copyright © 2026 ADP, Inc.
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ADP STRATEGIC PRIORITIES Lead with Best-in-Class HCM Technology Provide Unmatched Expertise and Outsourcing Benefit our clients with Global Scale 11 Copyright © 2026 ADP, Inc.
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WHY ADP? CONSISTENT AND GROWING REVENUE AND EARNINGS • Leader in the large and growing HCM industry • High levels of recurring revenue and strong client revenue retention • Diversified portfolio addressing all segments of the HCM market • Consistent track record of expanding margins • Client funds extended investment strategy delivers incremental interest income and minimizes rate volatility STRONG CASH FLOWS AND BALANCE SHEET • Low capital requirements • Efficient model allows ample reinvestment for organic growth • Disciplined approach to M&A • Thoughtful approach to leverage with high investment-grade credit ratings • Longstanding commitment to shareholder-friendly actions and capital return 12 Copyright © 2026 ADP, Inc.
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ADP’S HISTORY OF DURABLE GROWTH 92.1% Gross ES Revenue Retention in FY25 13 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Total Revenue ($B) $10.9 $20.6 6.5% CAGR Copyright © 2026 ADP, Inc.
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CLIENT FUNDS PORTFOLIO INVESTMENT STRATEGY FY25 Average Balance ($B) • Enabled by our strong balance sheet and high, investment-grade credit ratings • Extend and ladder maturities of the investment portfolio for client funds • Utilize short-term financing arrangements to satisfy client funds obligations • Safety of principal, liquidity and diversification remain our primary objectives 14 15.5 Client Extended 13.6 Client Long 8.5 Client Short Copyright © 2026 ADP, Inc.
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Positive reinvestment rate differentials expected on Client Funds maturing in FY26 and FY27 15 LADDERING APPROACH – A DIFFERENTIATOR AND MEDIUM-TERM TAILWIND ~$13B Maturing in FY26 and FY27 15 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 FY>33 Client Funds Investment Strategy Portfolio1 at June 30, 2025 Available for Sale Securities Maturities and Book Yields Market Value ($ Millions) 1. Chart represents maturities for Client Long and Client Extended portfolios. 1.5% 2.6% 3.8% 4.0% 3.8% 3.2% 3.1% 4.5% 4.7% Copyright © 2026 ADP, Inc.
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ORGANIC INVESTMENTS DRIVING FUTURE GROWTH BEST-IN-CLASS TECHNOLOGY • Continue to scale Lyric with more in-depth features and broaden global reach • WorkForce Software product integration and client migrations • Extending WFN Next Gen addressable market • Continue to modernize technology infrastructure Investments in AI (e.g. continued expansion of ADP Assist and agentic solutions) DISTRIBUTION AND SERVICE • Expand sales force headcount • Invest in partner channels and embedded payroll • Augment digital marketing efforts • Utilize industry-leading service tools Investments in AI (e.g. broadly deploy Sales Assist and Service Assist) 16 Copyright © 2026 ADP, Inc.
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ADP’S DIVIDENDS AND SHARE REPURCHASES 0.9 0.9 1.0 1.1 1.3 1.5 1.6 1.7 1.9 2.2 2.4 1.5 1.1 1.3 1.0 0.9 1.0 1.4 2.0 1.1 1.2 1.3 F Y 1 5 F Y 1 6 F Y 1 7 F Y 1 8 F Y 1 9 F Y 2 0 F Y 2 1 F Y 2 2 F Y 2 3 F Y 2 4 F Y 2 5 Dividends Share Repurchases ($ Billions) 50 Years of consecutive dividend increases $30B Cash returned to shareholders FY15-FY25 Aa3/AA- Leading credit ratings from Moody’s (Aa3), S&P (AA-), and Fitch (AA-) 17 Copyright © 2026 ADP, Inc.
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19th year Named by FORTUNE® Magazine as one of the “World’s Most Admired Companies” in 2025 #1 HR Data Solution of the Year 2025 RECOGNIZED AS AN INDUSTRY LEADER Leader Everest Multi-Country Payroll Solutions 2024 #1 G2 Best Software Products for Small Businesses 2025 18 Copyright © 2026 ADP, Inc.
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MEDIUM-TERM FINANCIAL OBJECTIVES 8-10% Adjusted EBIT growth Supported by ~50-75bps margin expansion per year 9-11% Adjusted EPS Growth Assuming 1% annual net share count reduction 19 11-13% Total Shareholder Return Assuming 2% dividend yield 1 Organic constant currency Note: These objectives assume no significant impact from M&A or changes in the macroeconomic environment, corporate tax rates, the yield curve, or ADP’s valuation multiple. 6-7% Revenue Growth ~6% Employer Services and 6-8% PEO segment growth 1 Copyright © 2026 ADP, Inc.
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APPENDIX Copyright © 2026 ADP, Inc.
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FY24 REVENUE DISAGGREGATION DETAIL $6.2B PEO – Fully outsourced HR and benefits for U.S. businesses under a co-employment model. Includes Zero Margin Benefit Pass- Through revenue. $3.4B Small Business – HCM solutions for U.S. businesses with typically 50 or fewer employees. $2.9B Major Accounts – HCM solutions for U.S. businesses with typically 50 to 1,000 employees. $2.6B International – HCM and HRO solutions for clients based outside of the U.S. Includes the U.S. portion of certain multinational businesses using ADP global platforms. $1.6B Complementary Solutions – A variety of differentiated offerings, including tax filing services for non-payroll clients, wage garnishment, background screening, employment and income verification, certain other data solutions revenues, Wisely revenues, and tax credit services. $1.2B National Accounts – HCM solutions for U.S. businesses with typically 1,000+ employees. $1.3B ES HRO – Outsourcing solutions for U.S. businesses of all sizes. 21 Copyright © 2026 ADP, Inc.
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CORPORATE GOVERNANCE DETAIL Copyright © 2026 ADP, Inc.
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GOVERNANCE: COMMITTED TO SHAREHOLDER ENGAGEMENT We are committed to proactively engaging with shareholders; our Board is highly attuned to shareholder feedback, including governance & compensation best practices Monitoring & Assessment • Board and management review: ✓ Annual meeting voting results ✓ Investor feedback from IR & governance engagement ✓ Trends and best practices across the governance, executive compensation, regulatory, and environmental & social landscape • This review allows ADP to identify and prioritize topics for discussion Outreach & Engagement • ADP regularly meets with shareholders to actively gather feedback on a range of issues • Fiscal Year 2025: We invited shareholders representing nearly half of our shares outstanding to discuss our strategy, corporate governance and executive compensation programs, and held meetings with shareholders representing over 20% of our shares outstanding Evaluation & Response ✓ Board of Directors & key committees evaluate and discuss feedback from stockholders and key stakeholders ✓ ADP enhances disclosure and practices, as appropriate ✓ ADP updates governance practices and documents to align with best practices, and incorporates feedback, as appropriate 23 Copyright © 2026 ADP, Inc.
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GOVERNANCE: LEADING WITH BEST PRACTICES ✓ Proxy access right at 3% / 3-year ownership threshold (adopted August 2016) ✓ Independent, Non-Executive Board Chair ✓ Majority voting standard ✓ Shareholder ability to call special meetings ✓ Shareholder right to act by written consent ✓ No dual-class stock; one share, one vote ✓ No poison pill ✓ Active shareholder engagement to better understand investor perspective ✓ Annually elected Board; directors may be removed without cause ✓ Annual succession planning review ✓ Significant Board role in strategy and risk oversight ✓ Non-employee director pay limits and stock ownership requirements ✓ Annual Board assessment of corporate governance best practices ✓ Oversight of executive compensation by the Compensation and Management Development Committee ✓ Executive sessions of independent directors held regularly ADP is committed to shareholder-friendly corporate governance practices that help to drive long-term value creation 24 Copyright © 2026 ADP, Inc.
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GOVERNANCE: RESPONSIVE TO SHAREHOLDER FEEDBACK Topics of Discussion Board & Governance Executive Compensation Risk Management Corporate Social Responsibility • Enterprise risk management structure and how the Board oversees the risk assessment process • Sustainability efforts and the underlying economic rationale for environmental, social and governance initiatives • Compensation program and practices, including ADP’s increase in focus on performance-based awards in LTI • Performance metric selection and weighting, pay mix, and peer group selection • Board composition, self-assessment, and refreshment process • Governance practices and oversight structures (proxy access proactively adopted in Aug 2016) ADP Actions Taken ✓ Ongoing Board Refreshment: New Board members joined in 2025, 2022 and 2020 ✓ Following seamless CEO transition, returned to an independent, non-executive Board Chair structure with Committee Chair and membership rotation (January 2024) ✓ New FY’23 LTI design for executives, increasing focus on performance-based awards ✓ Compensation peer group refinements for FY’24, FY’22 and FY’18 ✓ Amended the charter of our re-named compensation and management development committee to formalize its existing practice to review the Company’s HCM practices ✓ Risk oversight changes to Board and Committee responsibilities, including formalization of Corporate Development and Technology Committee (previously an advisory committee) (May 2025) ✓ Ongoing enhanced risk management disclosures in proxy statement including in the areas of cyber and privacy ✓ Issued new CSR report in November 2025 (aligned to SASB and GRI) ✓ Announced enhanced financial disclosures at 2018 Investor Day, which began FY’19 25 Copyright © 2026 ADP, Inc.
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GOVERNANCE: BEST-IN-CLASS BOARD WITH BALANCED SKILL SET Deliberate Board Composition Skill Set Aligns and Evolves With Corporate Strategy ▪ Commitment to both continuity and fresh perspectives – 5 of our 10 independent Directors have a tenure of 5 years or less1 – Average independent Director tenure of 5.5 years1, compared to an S&P 500 average of 7.8 years – 50% are women; 25% are racially diverse ▪ Director succession planning – Conducted in the context of a skill set review – Skill set used to identify and recruit Directors ▪ The right set of skills and experience to set ADP’s corporate strategy – 8 of 10 independent Directors are current or former C-Suite of major public companies – Leaders with significant technology experience (Peter Bisson, David Goeckeler, Linnie Haynesworth, Fran Katsoudas, Nazzic Keene, Tom Lynch, Bob Swan) ▪ Independent mindset and focus on accountability to shareholders – 10 of 12 Directors are independent – All Board Committees are composed of independent Directors – Committed to formal shareholder engagement program ▪ Ongoing board refreshment Source: Spencer Stuart Board Index 2025 1. As of November 2025 Annual Shareholder Meeting (10 of 12 directors are independent directors) 2. Skill set matrix as reported in 2025 ADP Proxy Statement 10 7 12 11 7 8 11 4 9 8 10 6 10 9 4 11 Transformation Experience Technology Strategic Planning Other Public Company Board Experience Public Company CEO Experience Product Marketing / Product Management International Industry / HCM / HRO Capital Markets HR Management / Compensation Government / Regulatory Financial Expertise Enterprise Risk Management Environmental, Social & Governance Cybersecurity General Operations Director Skill Set2 26 Copyright © 2026 ADP, Inc.
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COMPENSATION: RIGOROUS APPROACH 1 2 3 4 5 Five Guiding Principles Compensation Governance Ensures Alignment with Principles ✓ Robust Clawback Policy exceeding Nasdaq listing requirements applicable to cash and equity incentives ✓ Stock Ownership Guidelines for CEO (6x) & NEOs (3x) ✓ No option repricing ✓ Target pay levels generally benchmarked to median, with variation based on tenure and experience ✓ Regular peer group analysis (peer group refined for FY’24, FY’22 and FY’18 to enhance alignment with ADP strategy) ✓ Double-trigger change-in-control severance and equity vesting provisions ✓ Limited perquisites ✓ Anti-Hedging and Pledging Policy ✓ No tax-gross ups ✓ No dividends on unearned performance stock Emphasize variable, performance-based compensation to ensure that pay and performance are closely aligned Rigorous metric selection and goal-setting process to support ADP’s financial, transformation, client satisfaction, paperless and HCM objectives Pay competitively to attract and retain executives critical to our long-term success Commitment to high standards of corporate governance and best practices Thoughtful design to minimize excessive risk-taking and to ensure high integrity 27 Copyright © 2026 ADP, Inc.
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COMPENSATION: PAY CLOSELY ALIGNED TO PERFORMANCE Balanced, Performance-Based Compensation Policy Strong Performance Alignment & Shareholder Support • Designed to incentivize sustainable value creation • Thoughtful design to encourage strategic transformation while mitigating excessive risk-taking • Approved by independent compensation committee using independent compensation consultant • CEO compensation was near the Proxy Peer median for FY21, slightly above the median for FY22 and below the median for FY23, FY24 and FY’25 • Robust clawback policy allows for cash and stock recovery • Emphasizes equity-based compensation to foster commonality of interest between management and shareholders Significant Pay at Risk Transformation, Client Satisfaction and ESG Objectives CEO Other NEOs = Base Salary = Performance-Based (STIP + LTIP) • Transformation, Client Satisfaction, Paperless and HCM objectives represent 20%, 10% and 10%, respectively, of the short-term incentive compensation for our executive officers • Important leading indicators of our transformation, creation of long-term value and future success • These objectives are measurable and pay out formulaically Transformation Client Satisfaction Paperless and HCM • Reduce low value contacts per client • Digital sales goal • Adoption % of GenAI • Mobile active users • Sales from newest products • Improve client experience through net promotor score goals • Client retention goal • Paperless payments goal • Executive human capital goals Sources: Institutional Shareholder Services 2025 Report on ADP; ADP 2025 Proxy Statement. Say On Pay 92% 11% 89% 91% 0% 100% 200% 300% $0 $5 $10 $15 $20 $25 FY21 FY22 FY23 FY24 FY25 CEO Pay ($M) Cumulative TSR (%) 93% 90%82% 6% 94% 11% 89% 91% 28 Copyright © 2026 ADP, Inc.
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ENTERPRISE RISK MANAGEMENT BOARD AND KEY COMMITTEES MAINTAIN DISCIPLINED RISK ASSESSMENT PROCESS TO EFFECTIVELY PURSUE STRATEGIC GOALS • Acquisition Integration • Competitive • Environmental, Social, and Governance • Innovation • Partnership & Alliances • Sovereign & Political • Strategic Initiatives • Corporate Compliance (including Corp Governance) • Labor & Employment • Operational Compliance • Privacy • External Economic • Financial Operational • Financial Reporting • Artificial Intelligence • Cybersecurity • Data Management • Product Technology • Business Disruption • Client Assurance • Change Impact • Client Management • Global Money Movement • Operational Fraud • Operational Performance • Operational Security • Talent Management • Third-Party Transaction • Process 1 2 3 4 5 Digital & Technology COMPENSATION AND MANAGEMENT DEVELOPMENT COMMITTEE • 2 Components of Operational (Talent Management) CORPORATE DEVELOPMENT AND TECHNOLOGY COMMITTEE • 1 Components of Strategic (M&A, Innovation) • 2 Components of Operational (Technology Talent) • 3 Components of Digital & Technology (Product Security/Resiliency) AUDIT COMMITTEE • 2 Components of Operational (Client Assurance, Global Money Movement, Operational Fraud) • 4 Financial • 5 Legal & Compliance BOARD • 1 Strategic • 2 Operational • 3 Digital & Technology • 4 Components of Financial • 5 Components of Legal & Compliance NOMINATING/CORPORATE GOVERNANCE COMMITTEE • 1 Components of Strategic (Environmental, Social & Governance) • 5 Components of Legal & Compliance (Corporate Governance) 29 Copyright © 2026 ADP, Inc.
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COMMITTED TO SUSTAINABLE PRACTICES 30 • Commitment to Net-Zero GHG Emissions by 2050 • Reducing Scope 1 & 2 GHG emissions 25.2% by 2025 and 50% by 2030 • Executive compensation linked to environmental objectives • Commitment to an inclusive workplace • Always Designing for People – all people • Key HCM solutions also support financial wellness Environment Social Governance • Refreshed board with diversity in experience and background • Leading governance scores from third-party rating providers 30 Copyright © 2026 ADP, Inc.
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CORPORATE SOCIAL RESPONSIBILITY REPORT MOST RECENT CSR REPORT ISSUED NOVEMBER 2025 For more information, please visit sustainability.adp.com ✓ Commitment to Strong Governance, Ethics, and Compliance ✓ Associate Inclusion, Engagement and Wellness ✓ Client Betterment Through Innovation ✓ Community Engagement and Volunteer Involvement ✓ Environmental Sustainability 31 Copyright © 2026 ADP, Inc.