Capital Allocation and Market Strategy

We Issued Medium-Term Targets at our 2021 Investor Day 7 to 8% Revenue Growth Organic Constant Currency; About 6% ES and 10 to 12% PEO Segment Growth 11 to 13% Adjusted EPS Growth Assuming 1% annual net share count reduction 10 to 12% Adjusted EBIT Growth Supported by approximately 75bps annual Adj. EBIT Margin expansion 13 to 15% Total Shareholder Return Assuming 2% dividend yield These objectives assume no significant impact from change in corporate tax rates, change in yield curve, M&A, or change in ADP multiple Targets announced at our November 15, 2021 Investor Day. This is not a reaffirmation of that outlook. Copyright 2023 ADP, Inc. 13 ADP

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