Investor Presentation

1. Penna Consulting Plc Investor Presentation Interim Results Six months to 30 September2013

2. Disclaimer This presentation has been prepared by Penna Consulting plc (the "Company“ or “Penna”) solely in connection with providing information on the Company and to certain institutional and professional investors in the United Kingdom. This presentation does not constitute or form part of any offer or invitation to purchase, sell or subscribe for, or any solicitation of any such offer to purchase, sell or subscribe for, any securities in the Company nor shall this presentation or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefore. Although reasonable care has been taken to ensure that the facts stated in this presentation are accurate and that the opinions expressed are fair and reasonable, the contents of this presentation have not been formally verified by Penna or any other person. Accordingly, no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information and opinions contained in this presentation, and no reliance should be placed on such information or opinions. Further, the information in this presentation is not complete and may be changed. Neither the Company nor any of its respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of such information or opinions or otherwise arising in connection with this presentation. Forward looking statements This presentation may contain statements about Penna that are or may be forward looking statements. All statements other than statements of historical facts included in this Announcement may be forward looking statements. Without limitation, any statements preceded or followed by or that include the words "targets", "plans", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "estimates", "projects" or words or terms of similar substance or the negative thereof, are forward looking statements. Forward looking statements include statements relating to the following: (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, dividend policy, losses and future prospects; (ii) business and management strategies and the expansion and growth of Penna’s operations and potential synergies and cost savings resulting from the Offer; and (iii) the effects of government regulation on Penna’s business. Such forward looking statements involve risks and uncertainties that could significantly affect expected results and are based on certain key assumptions. Many factors could cause actual results to differ materially from those projected or implied in any forward looking statements. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward looking statements. Penna disclaim any obligation to update any forward looking or other statements contained herein, except as required by applicable law. Not a profit forecast No statement in this Presentation is intended as a profit forecast or profit estimate and no statement in this Announcement should be interpreted to mean that earnings or the future earnings per share of Penna (as enlarged by the acquisition of Savile), Penna for the current or future financial years would necessarily match or exceed the historical or published earnings per share of Penna. . 2

3. Our Clients

4. What we do

5. Overview • Penna’s focus is on providing HR services around the employment lifecycle • The UK’s largest outplacement consultancy with significant relationships in HR departments • Leading business in board coaching, assessment, performance and change management • Recruitment division providing executive search, interim and permanent staff to clients in both public and private sector, recruitment communications and managed volume recruitment • Predominantly UK based earnings with international delivery capability through Career Star Group • High reputation in HR with >90% brand recognition and strong client retention rates • Diversified across services in the employment life cycle, sectors and clients (1500+) • Diversifying services into recruitment and away from outplacement • Agile and flexible cost structure using an associate model • No debt and cash generative. • Dividend paid through the cycle with 50% increase in interim dividend in 2013/14 • Recommended cash offer for Savile Group plc to further strengthen Penna’s offering

6. Overview – Financial performance Revenue £31.9m -3% Net Fee Income £17.3m -11% Profit before tax £1.1m +8% Net Cash £2.0m (Sep 12 £1.5m) EPS 3.3p (2012 2.4p) Dividend per share 1.5p (2012 1.0p)

7. Operational highlights • Leading position in UK outplacement market • Recruitment Solutions division’s revenues increasing and profitable • UK recruitment market recovering gradually • New international network formed covering 70 countries, 770 offices and 1800 consultants. Referral income across network in six months US$1.6m Providing a service throughout the employment cycle HR Consulting Recruitment • Broad sectors and services • Associate delivery model • Market leader in outplacement, • coaching and assessment • Contra-cycle services Transition from traditional media to digital and direct sourcing Margin improvement Building executive recruitment through search and interim Providing recruitment solutions not transactions

8. Penna’s Service Offering Net revenue by capabilities HR Consulting • Career transition includes • Outplacement • Career development • Talent Management includes • Learning and Development • Board and Executive Coaching • Performance & change • Assessment Recruitment Solutions • Attraction and Communications • Managed Recruitment & Assessment • Executive Search • Executive Interim

9. Financials

10. Divisional breakdown *2012 includes the operating results of Sweden which was closed in the second half of 2012/13

11. Summary Balance Sheet

12. Summary Cash Flow

13. Divisional Highlights

14. HR Consulting Highlights • UK’s largest outplacement consultancy (34% market share) • Growth of international network - 70 countries • Settled back to post recessionary levels of activity • Growth in senior end outplacement • Retained major accounts • Won major accounts from competitors Strategy • Invest in online career transition services • Grow broader HR services in career development and leadership consulting • Build coaching and assessment revenues • Continue to expand market share • Grow international revenues through Career Star Group Outlook • Large new, non FS, outplacement contracts starting in Q2 • M&A activity beginning (e.g. Lafarge Tarmac) • Growth in assessment services in public and private sector • Increasing use of ‘virtual’ services to deliver outplacement • Focus on board level leadership development Example Clients Services – net revenues

15. Recruitment Solutions Highlights • Fee based revenues now exceeding commission based – changing mix • Margins improving and public sector fees up 12.5% • All parts of Recruitment Solutions profitable • Secured all 5 lots on Government Civil Service recruitment framework • Graduate and social recruitment and direct sourcing increasing • Public sector recruitment returning • Increased Commercial sector wins Strategy • Adopt more flexible operating model • Graduate recruitment and higher education focus • Transition traditional media to digital - direct sourcing and social recruitment • Continued focus on commercial sector • Address changing public sector needs • Develop new assessment products • Resourcing solutions offer tailored to clients’ needs • Interims provided into management consultancies Outlook • UK recruitment market improving • Focus on growing revenues from existing clients in private sector • Continue investing in Executive Search and Interim • Positioned well as market recovery gains momentum Services – net revenues Example Clients

16. Recruitment Solutions 500,000+ Interactions 100,000 Applications 5,000 Assessments £20m Media space 30,000+ Adverts 240 Interims in year 160 Executive Searches

17. Strategy & Outlook

18. Acquisition of Savile Group • Recommended cash offer for Savile at 7p per share (£1.1m) • Saviles has three businesses/brands • Fairplace Outplacement • Cedar Talent management • IDDAS Board consulting • Year to 30 June 2013 - Revenues £8.1m • Benefits of the acquisition • Enhanced client base • Consolidation of outplacement market • Building critical mass in Talent Management • New business in Board Effectiveness consulting • Substantial cost synergy opportunities • Expected to be earnings enhancing in 1st full year immediately following completion of the acquisition* *This statement should not be construed as a profit forecast or be interpreted to mean that the future earnings per share, profits, margins or cash flows of Penna will necessarily be greater or less than the historical published earnings per share, profits, margins or cash flows of Penna

19. Strategy and Opportunities Short term Medium term • Maintain industry leadership in outplacement • Regional delivery with leading online services (Sunrise) • Develop services for post recession HR needs • Develop virtual services outplacement – new market • Growing executive search and interim organically • Pursue commercial sector opportunities in recruitment using HR Consulting relationships • Position Recruitment services for upturn and structural growth opportunities, adapting a more flexible operating model in production and creative • Pursue public sector new business opportunities • Cost cutting and downsizing • Outplacement, assessment and performance • Cross-selling around the employment cycle • Invest in Penna as a premier HR brand • Diversifying into larger scaled markets • Consider acquisitions of businesses with the following characteristics • - Scalable • Second generation business • Process orientated • Areas of focus • Outplacement and related career advisory services • Recruitment and related services • - HR assessment outsourcing • - Management training & development • Expand internationally through Career Star Group • Build a broad based single branded HR business • Services • Sectors • Geographies

20. Outlook • HR Consulting • Robust, profitable and strong margins in outplacement • Price erosion in outplacement stabilised • Build related HR services • Consolidation of international outplacement into ‘big’ 3 • Further development of Career Star Group and greater referral incomes • Further opportunities to consolidate UK outplacement market • Recruitment Solutions • Increasing presence in commercial sector • Growth in Executive Search and Interim • Move to tailored recruitment solutions • Direct sourcing embracing social media • UK recruitment market returning to growth • Increasing activity in public sector • Opportunities for acquisitions

21. APPENDIX

22. Net Revenue by Sector Recruitment Solutions HR Consulting

23. Market Overview

24. History Sanders & Sidney established in 1973. Founded the outplacement market in UK Listed on USM then full list Structure simplified to 2 service groups HR consulting and Recruitment Solutions Steve Rowlinson appointed Chairman and Gary Browning Chief Executive Return to profitability and the dividend list Established Executive Interim Business 1973 to 1996 1996 to 2002 2002 2004 2005 2006 2007 2009 2011 2013 Name changed to Penna in 1996 and diversifies into recruitment and HR Consultancy through acquisitions Cost restructuring Divestment of Knightsbridge AIM Listing and £3.5m placing Lee Hecht Harrison alliance to increase international coverage of outplacement Barkers Acquisition Group restructured into four service groups