Public Country by Country Report (on income tax information)

Introduction

European Public Country-by-Country Report Directive (EU) 2021/2101 amended Directive 2013/34/EU to require the disclosure of income tax information by certain undertakings and branches. This public country-by-country report ("EU pCbCR") is prepared in accordance with these provisions and Implementing Regulation (EU) 2024/2952, which establishes the common template and electronic reporting format. The EU pCbCR is a tax transparency measure that provides stakeholders with information on the tax contributions and economic activities of multinational enterprises operating within the European Union. This report for the financial year 2025 was prepared using the EU pCbCR Generator provided by the European Commission (version dated 10 March 2026), available at https://finance.ec.europa.eu/publications/public-country-country-reporting-taxonomy-project_en. For further detailed information about the Adecco Group's business activities, approach to taxation, tax strategy, governance framework, and tax contributions, please refer to the Tax Transparency Report section published on www.adeccogroup.com. Currency: The reporting currency of the Adecco Group is Euro. All financial data presented in this Report are expressed in Euro. Specific comments to each column of Section 2 This Report uses aggregated data at the country level. In particular, it presents information on the constituent entities of the Group that have been consolidated on a line-by-line basis in the Consolidated Financial Statements of the Ultimate Parent Entity (Adecco Group AG). The Group does not have any constituent entities excluded from the Consolidated Financial Statements solely on the grounds of materiality or size. Revenues: The revenues are the sum of total unrelated party revenue and total related party revenue. Total unrelated party revenue is the sum of sales, operating and non-operating income, other financial income and external interest income of all constituent entities of the Group resident for tax purposes in the relevant tax jurisdiction. Total related party revenue is the sum of intercompany operating income, financial income and other intercompany and support services of all constituent entities resident for tax purposes in the relevant tax jurisdiction. Dividend payments received from other constituent entities are excluded from total revenue, while earnings from associated entities accounted for under the equity method are included. Gains on intra-group share transfers are included as intercompany revenue. Profit (Loss) before income tax. The amount reported is the sum of the profit (loss) before income tax of all constituent entities resident for tax purposes in the relevant tax jurisdiction. The Adecco Group has acquired entities and groups in previous years. Financial data of the constituent entities disclosed in the EU pCbCR is based on the ERP pre-consolidation financial data that forms the basis of the consolidated financial statements of the Adecco Group and purchase price accounting (PPA) is recorded in the constituent entities financial accounts in the ERP system. Any PPA movements are therefore included in the financial data disclosed in this report. Dividend payments received from other constituent entities are excluded from the Profit (Loss) before income tax. Gains on intra-group share transfers are included in Profit (Loss) before income tax. Income tax paid (on cash basis). The amount reported is the sum of cash paid for income and withholding taxes of all constituent entities resident for tax purposes in the relevant tax jurisdiction. The cash paid relates to cash movement in the current year such as payments, refunds and taxes withheld by customers. The withholding taxes include cash payments relating to intercompany charges. R&D tax credits that are claimed and paid to us for R&D activities are netted against the taxes paid if they are accounted for in the tax line under US GAAP. Income tax accrued (current year). The amount reported is the sum of tax provisions (accrued tax expenses) of all constituent entities resident for tax purposes in the relevant tax jurisdiction. The amount reported only reflects tax expenses in the current year. These figures (Income tax paid and Income tax accrued) exclude income taxes with respect to dividends that have been excluded from Revenue and Profit (Loss) before Income Tax. Accumulated earnings. The amount reported is the sum of retained earnings of prior years, dividends paid for the current year, and net income attributed to shareholders of all constituent entities resident for tax purposes in the relevant tax jurisdiction. In accordance with the OECD Guidance on the implementation of the country-by-country reporting, where the sum of the accumulated earnings of all constituent entities in a jurisdiction is negative (i.e. net accumulated losses), Accumulated Earnings is a negative amount. Number of employees. The amount represents the total number of employees on a full-time equivalent (FTE) basis of all constituent entities resident for tax purpose in the relevant tax jurisdiction. This includes internal colleagues, associates and consultants. The average FTE for December is used for colleagues and yearly averages are used for consultants and associates provided with flexible employment. Since majority investments of constituent entities in external parties (ownerships of 50% to less than 100%) are fully financially consolidated, the number of employees shown in Section 2 also includes the total number of employees of the majority investments in external parties. Additional Notes for Section 3 Specific comments regarding the main business activities An overview of the business activities is provided in the Group's 2025 Tax Transparency Report and 2025 Annual Report, both published on www.adeccogroup.com. The Adecco Group is a provider of human capital solutions including flexible placement, permanent placement, career transition, outsourcing, consulting, training, up-/reskilling, and other services. These business activities are therefore categorized under Provision of Services. Holding shares or other equity instruments reflects intercompany shareholding according to legal chart per 31 December 2025. Those constituent entities whose business activity reported in Section 3 is “Other” generally fall into one of the following categories: (i) real estate activities; (ii) majority investments of constituent entities in external parties (ownership of 50% to less than 100%); (iii) newly incorporated entities with no or minimal operations in 2025; (iv) branches; (v) entities that were liquidated, dissolved, or merged during the year.

Section 1. General information

Section 4. Omitted information

Section 5. Explanations for material discrepancies between income tax paid and accrued

Conclusion

For further information, the Adecco Group publishes a comprehensive Tax Transparency Report on www.adeccogroup.com.