Investor Presentaiton
Forward Looking Statements
This presentation 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 "expects,"
"assumes," "projects," "anticipates," "estimates," "we believe," "could" "is designed to" and other words of similar 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 could 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 solutions; compliance with existing or new legislation or regulations;
changes in, or interpretations of, existing legislation or regulations; overall market, political and economic conditions, including interest 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; changes in technology; availability of skilled technical
associates; the impact of new acquisitions and divestitures; the adequacy, effectiveness and success of our business transformation initiatives; and the impact of
any uncertainties related to major natural disasters or catastrophic events, including the coronavirus ("COVID-19") pandemic. 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 factors discussed under "Item 1A. Risk Factors" of our most recent Annual Report on Form 10-K and in other written or oral
statements made from time to time by ADP, should be considered in evaluating any forward-looking statements contained herein.
Note Regarding the Use of Non-GAAP Financial Metrics
This presentation contains non-GAAP financial metrics. Please refer to the accompanying financial tables in the Appendix for a discussion and reconciliation of
non-GAAP financial metrics to their closest comparable GAAP financial metrics. Adjusted EBIT margin, organic constant currency, and adjusted diluted earnings per
share are non-GAAP financial measures. We have not provided a reconciliation of our adjusted EBIT margin outlook, organic constant currency outlook or adjusted
EPS outlook to their most comparable GAAP measures for such years because it would be potentially misleading and not practical given the difficulty of projecting
event-driven transactional and 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 accompanying reconciliation for the historical period presented is indicative of the reconciliation that will be prepared upon
completion of the periods covered by the non-GAAP outlook.
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