Human Capital Services Industry Update March 2013

Integrity Expertise Results John Hill Senior Managing Director hill@hydeparkcapital.com (813) 383-0205 John McDonald Senior Managing Director mcdonald@hydeparkcapital.com (813) 383-0206 Keith Hodgdon Senior Vice President hodgdon@hydeparkcapital.com (813) 383-0208 Human Capital Services Industry Update March 2013 Jeffrey Bridge Vice President bridge@hydeparkcapital.com (813) 383-0204 Michael Mariani Associate mariani@hydeparkcapital.com (813) 597-2649 Jennifer Paul Associate paul@hydeparkcapital.com (813) 383-0203 Hyde Park Capital Advisors, LLC 701 N. Franklin Street Tampa, FL 33602 Tel: 813-383-0202 www.hydeparkcapital.com Member FINRA/SIPC

Human Capital Services Industry Update As of February 26, 2013 all of the sectors within the Human Capital Services industry have delivered positive public market performance over the past year: Staffing & Recruiting up 15%, HR & Outsourcing up 10%, and HR Technology up 15%. The unemployment rate dropped to 7.8% in September of 2012 marking the first time it dropped below 8.0% since January of 2009. As of January 2013, the unemployment rate sits at 7.9%. Commentary Current valuation multiples remain attractive for all of the Human Capital industry sectors with the Staffing & Recruiting and HR & Outsourcing sectors trading at 9.8x and 10.9x LTM EBITDA, respectively, and the HR Technology sector trading at 5.0x LTM revenue. U.S. Unemployment Rate Stock Price Performance (LTM) 130% 15.4% 120% 15.3% 110% 10.2% 100% 9.5% 90% 80% 70% Feb-12 May-12 Aug-12 Nov-12 Feb-13 S&P 500 Staffing & Recruiting HR & Outsourcing HR Technology Public Company Market Performance by Sector 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 7.9%* Average Change in Stock Price Enterprise Value / LTM Industry Sector 3 Months 12 months Revenue EBITDA Staffing & Recruiting 24.5% 15.3% 0.6x 9.8x HR & Outsourcing 9.1% 10.2% 2.0x 10.9x HR Technology 5.7% 15.4% 5.0x 34.2x 0.0% Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Source: S&P Capital IQ. * Bureau of Labor Statistics (seasonally adjusted) as of the end of January 13. 2

Human Capital Services Recent M&A Activity * Select M&A Transactions Closed Date Target Industry Sector Buyer Enterprise Value ($mm) EV / Revenue EV / EBITDA Pending Gettinghired, LLC Staffing & Recruiting Allegis Group, Inc. NA NA NA Pending Humareso HR & Outsourcing Vantage Point HR, LLC NA NA NA Pending IDC Technologies, Inc. HR & Outsourcing Staffing 360 Solutions, Inc. $13 0.3x NA Pending Knowledge Infusion, LLC HR & Outsourcing Appirio, Inc. NA NA NA Pending Management Recruiters of Myrtle Beach, Inc. Staffing & Recruiting PrincetonOne, LLC NA NA NA Pending Summit Software, Inc. HR Technology Corporate Resource Services, Inc. NA NA NA Pending Techforza, Inc. Staffing & Recruiting M&R Consultants Corp. NA NA NA Pending Techjobs.com Staffing & Recruiting NetJobs Group AB NA NA NA Pending Workday Services Co. HR Technology Aon Hewitt, LLC NA NA NA Pending Your HR Group, Inc. (Payroll Services) HR & Outsourcing Hill Country Payroll, LLC NA NA NA 02/20/13 Campus2careers, Inc. Staffing & Recruiting SureScore, Inc. NA NA NA 02/19/13 ClinForce, LLC / Akos, Ltd. Staffing & Recruiting ICON Public Ltd. Co. $56 NA NA 02/06/13 JAWOOD Business Process Solutions, LLC HR Technology Genpact, Ltd. NA NA NA 02/05/13 Perioperative Nurses, Inc. Staffing & Recruiting Alliant, Inc. NA NA NA 02/04/13 MDT Personnel Staffing & Recruiting TrueBlue, Inc. $48 NA NA 01/24/13 Forthright Consulting, Inc. Staffing & Recruiting Trellist, Inc. NA NA NA 01/23/13 HCTec, LLC Staffing & Recruiting Snow Phipps Group, LLC NA NA NA 01/21/13 Superior Driver Source of the Carolinas / Superior Driver Source, Inc. Staffing & Recruiting TransForce, Inc. NA NA NA 01/17/13 ProSource Management Solutions, Inc. HR & Outsourcing G&A Partners, Inc. NA NA NA 01/15/13 BMT Staffing Solutions Staffing & Recruiting Convention Models & Talent, Inc. NA NA NA 01/14/13 Workforce50.com Staffing & Recruiting Prancing Dog Publications, LLC NA NA NA 01/09/13 Benefit Concepts, Inc. HR & Outsourcing HUB International Insurance Services NA NA NA 01/08/13 Jonathan Scott International, LLC Staffing & Recruiting Trustaff, Inc. NA NA NA 01/07/13 Corporate Family Network, Inc. HR & Outsourcing E4 Health, Inc. NA NA NA 01/07/13 Ovation Payroll, Inc. HR & Outsourcing Heartland Payment Systems, Inc. $44 NA NA 01/04/13 Bennett-Hall Co., Inc. Staffing & Recruiting Source2, Inc. NA NA NA 01/03/13 Argus Benefits, LLC HR & Outsourcing Arthur J Gallagher & Co. NA NA NA 01/03/13 ERC Dataplus, Inc. HR Technology PeopleStrategy, Inc. NA NA NA 01/03/13 PEO Network, LLC HR & Outsourcing PEO.com, LLC NA NA NA 01/03/13 Personally Yours Staffing, Inc. Staffing & Recruiting Corporate Resource Services, Inc. NA NA NA 01/01/13 Diversified Industries, Inc. HR & Outsourcing CBIZ, Inc. NA NA NA 01/01/13 EDP, Inc. (Pennsylvania) Staffing & Recruiting Saksoft, Inc. NA NA NA 01/01/13 Salient Federal Solutions, Inc. (Fannie Mae Division) Staffing & Recruiting Kavaliro Staffing Services NA NA NA 12/31/12 Argyle Benefits Consultants, LLC HR & Outsourcing Regions Insurance Group, Inc. NA NA NA 12/31/12 Benefit Concepts, Inc. HR & Outsourcing WageWorks, Inc. NA NA NA 12/31/12 CoAdvantage, Inc. HR & Outsourcing CIP Capital / Compass Investment Partners Fund NA NA NA 12/31/12 enet Payroll Services, LLC HR & Outsourcing Extra Help, Inc. NA NA NA Source: S&P Capital IQ. *Represents Hyde Park Capital completed transaction. 3

Human Capital Services Recent M&A Activity Select M&A Transactions Closed Date Target Industry Sector Buyer Enterprise Value ($mm) EV / Revenue EV / EBITDA 12/31/12 Hardman & Howell Benefits HR & Outsourcing Arthur J Gallagher & Co. NA NA NA 12/31/12 System One Holdings, LLC Staffing & Recruiting MidOcean Partners $70 NA NA 12/28/12 4M Emergency Management Staffing & Recruiting Island Medical Management Holdings NA NA NA 12/28/12 A D Computer Corp. HR & Outsourcing Universal Business Payment Solutions Acquisition Corp. $24 1.9x 8.0x 12/28/12 Alchemy Systems, LP HR & Outsourcing The Riverside Co. NA NA NA 12/24/12 Cast & Crew Entertainment Services, LLC HR & Outsourcing Veronis Suhler Stevenson / ZelnickMedia / Ares Capital Management NA NA NA 12/20/12 AmeriCare Health Services, Inc. Staffing & Recruiting Epic Health Services, Inc. NA NA NA 12/19/12 PowWowHR, LLC HR Technology ThePort Network, Inc. NA NA NA 12/18/12 Qqest Software Systems, Inc. HR Technology Infinisource, Inc. NA NA NA 12/18/12 The OCJ Group, Inc. Staffing & Recruiting Genuent, LLC NA NA NA 12/17/12 Visiont Staffing & Recruiting Peoplelink Staffing Solutions, LLC NA NA NA 12/10/12 American Partners, Inc. Staffing & Recruiting LTN Staffing, LLC NA NA NA 12/10/12 Human Capital Solutions, LLC Staffing & Recruiting Beyond.com, Inc. NA NA NA 12/04/12 Comstat Payroll Services HR & Outsourcing Alpha Payroll Services, LLC NA NA NA 12/01/12 Horton International, LLC Staffing & Recruiting Marcum Search, LLC NA NA NA 11/30/12 Power Transitions HR & Outsourcing IMPACT Group NA NA NA 11/27/12 TowleHaus, LLC Staffing & Recruiting Keating Consulting Group, Inc. NA NA NA 11/19/12 CHG Healthcare Services, Inc. Staffing & Recruiting Ares Management / Leonard Green & Partners NA NA NA 11/19/12 Exhedra Solutions, Inc. Staffing & Recruiting Freelancer Australia Pty, Ltd. NA NA NA 11/14/12 Integrated Staffing Solutions, Inc. Staffing & Recruiting Method3, Inc. NA NA NA 11/09/12 Advantage Federal Resourcing, Inc. Staffing & Recruiting STS Aviation Group NA NA NA 11/08/12 Trade Management, Inc. Staffing & Recruiting Peoplelink Staffing Solutions, LLC NA NA NA 11/01/12 hughes Consultants, LLC Staffing & Recruiting Major, Lindsey & Africa, LLC NA NA NA 11/01/12 Target IT Resources, Inc. Staffing & Recruiting Link Executive Search, Inc. NA NA NA 10/31/12 Medical Practice Solutions, Inc. HR & Outsourcing Aardvarks Answering Service, Inc. NA NA NA 10/30/12 Augustine, Inc. Staffing & Recruiting Method3, Inc. NA NA NA 10/25/12 IBIS Advisors Co. HR & Outsourcing Gallagher Benefit Services, Inc. NA NA NA 10/25/12 Strategic Outsourcing, Inc. HR & Outsourcing TriNet Group, Inc. NA NA NA 10/24/12 Arcturus HR, LLC HR & Outsourcing Today's Payroll Solutions, LLC NA NA NA 10/17/12 Brigham Group, Inc. Staffing & Recruiting SEEK Careers/Staffing, Inc. NA NA NA 10/15/12 Altera Payroll, Inc. HR & Outsourcing State Bank and Trust Co. NA NA NA 10/15/12 Medrec, Inc. Staffing & Recruiting Accountable Healthcare Holdings Corp. NA NA NA 10/15/12 TKE, Inc. Staffing & Recruiting Employment Control, Inc. NA NA NA 10/05/12 Sheppard Detective System, Inc. Staffing & Recruiting United American Security, LLC NA NA NA 10/04/12 WinHire, Inc. Staffing & Recruiting Renaissance Partner Group, Inc. NA NA NA 10/02/12 Hire Dynamics, LLC (Nevada Operations) Staffing & Recruiting EmployBridge, Inc. NA NA NA Source: S&P Capital IQ. 4

Hyde Park Capital Featured Transaction MDT Personnel, LLC has been acquired by TrueBlue, Inc. Overview of the Transaction On February 6, 2013 MDT Personnel, LLC ( MDT ) announced its sale to TrueBlue, Inc. (NYSE:TBI) ( TrueBlue ). has been acquired by MDT is the third-largest general labor staffing firm in the U.S with 105 branches across 25 states. The Company is a leading provider of general labor staffing services to the construction, event staffing, disaster recovery, hospitality and manufacturing industries. TrueBlue, Inc. is a leading provider of blue-collar staffing. In 2012, TrueBlue connected approximately 350,000 people to work through the following brands: Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs, and Centerline, and served approximately 140,000 businesses in the retail, service, wholesale, manufacturing, transportation, aviation, and construction industries. Hyde Park Capital s Role Hyde Park Capital was engaged as the exclusive investment banker and financial advisor to MDT in connection with its sale. Hyde Park Capital marketed the deal to a select group of strategic buyers, identified TrueBlue as the optimal buyer and initiated an exclusive process to pursue a transaction. Hyde Park Capital negotiated, structured, and closed the transaction with TrueBlue.

Staffing & Recruiting Public Company Analysis ($ in millions, except per share value) Enterprise Value / Closing Price % of 52 Equity Enterprise LTM LTM Margins LTM Company Ticker 2/26/13 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Adecco S.A. ADEN $56.33 96% $10,742 $12,160 $26,588 $4,765 $1,174 17.9% 4.4% 0.5x 10.4x Randstad Holding NV ENXTAM:RAND $41.88 97% $7,250 $8,692 $22,529 $4,099 $677 18.2% 3.0% 0.4x 12.8x Robert Half International, Inc. RHI $34.96 94% $4,874 $4,588 $4,111 $1,649 $411 40.1% 10.0% 1.1x 11.2x ManpowerGroup MAN $53.77 95% $4,307 $4,429 $20,678 $3,442 $571 16.6% 2.8% 0.2x 7.8x Team Health Holdings, Inc. TMH $32.75 93% $2,236 $2,713 $2,069 $386 $202 18.6% 9.7% 1.3x 13.5x On Assignment, Inc. ASGN $20.96 84% $1,002 $1,428 $1,240 $384 $107 31.0% 8.7% 1.2x 13.3x AMN Healthcare Services, Inc. AHS $13.90 99% $649 $802 $954 $270 $67 28.3% 7.1% 0.8x 11.9x Kelly Services, Inc. KELY.A $17.50 98% $648 $635 $5,451 $897 $97 16.4% 1.8% 0.1x 6.6x Korn/Ferry International KFY $18.24 94% $867 $644 $767 $242 $85 31.6% 11.1% 0.8x 7.6x TrueBlue, Inc. TBI $18.75 97% $747 $618 $1,390 $372 $72 26.8% 5.2% 0.4x 8.6x Kforce, Inc. KFRC $14.30 87% $512 $533 $1,082 $348 $26 32.1% 2.4% 0.5x NM Resources Connection, Inc. RECN $12.25 85% $516 $402 $567 $221 $51 38.9% 9.0% 0.7x 7.9x CDI Corp. CDI $16.82 90% $332 $332 $1,105 $219 $42 19.9% 3.8% 0.3x 7.8x Cross Country Healthcare, Inc. CCRN $5.66 94% $175 $202 $507 $132 $10 26.0% 2.0% 0.4x NM Heidrick & Struggles International, Inc. HSII $13.59 60% $246 $129 $465 $134 $31 28.9% 6.7% 0.3x 4.1x Hudson Global, Inc. HSON $3.99 67% $128 $89 $778 $285 $8 36.6% 1.0% 0.1x 11.9x Average 89% $2,202 $2,400 $5,642 $1,115 $227 26.8% 5.5% 0.6x 9.7x Median 94% $698 $639 $1,172 $360 $78 27.6% 4.8% 0.5x 9.5x Stock Price Performance (LTM) Trading Multiples (Average) 130% 20.0x 0.60x 120% 15.3% 18.0x 17.8x 0.51x 0.53x 0.55x 110% 100% 90% 9.5% 16.0x 14.0x 12.0x 0.47x 0.48x 17.0x 0.46x 14.5x 14.1x 13.6x 0.47x 11.5x 0.35x 0.33x 0.37x 0.33x 0.35x 0.37x 0.50x 0.45x 0.40x 0.35x 10.0x 0.30x 80% 8.0x 8.4x 7.7x 8.7x 7.8x 8.5x 9.0x 0.25x 70% Feb-12 May-12 Aug-12 Nov-12 Feb-13 S&P 500 Staffing & Recruiting 6.0x Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1'12 Q2'12 Q3'12 Q4'12 0.20x Source: S&P Capital IQ 6

HR & Outsourcing Public Company Analysis ($ in millions, except per share value) Enterprise Value / Closing Price % of 52 Equity Enterprise LTM LTM Margins LTM Company Ticker 2/26/13 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Automatic Data Processing, Inc. ADP $61.08 99% $29,908 $28,503 $10,507 $4,952 $1,908 47.1% 18.2% 2.7x 14.9x Paychex, Inc. PAYX $32.99 95% $11,997 $11,696 $2,269 $1,586 $972 69.9% 42.9% 5.2x 12.0x Towers Watson & Co. TW $65.62 96% $4,614 $4,641 $3,508 $1,129 $663 32.2% 18.9% 1.3x 7.0x Insperity, Inc. NSP $28.10 82% $704 $423 $2,159 $382 $87 17.7% 4.0% 0.2x 4.9x Barrett Business Services, Inc. BBSI $44.57 96% $350 $323 $403 $67 $21 16.6% 5.1% 0.8x 15.6x Average 94% $9,515 $9,117 $3,769 $1,623 $730 36.7% 17.8% 2.0x 10.9x Median 96% $4,614 $4,641 $2,269 $1,129 $663 32.2% 18.2% 1.3x 12.0x Stock Price Performance (LTM) Trading Multiples (Average) 130% 14.0x 3.00x 120% 110% 100% 10.2% 9.5% 12.0x 10.0x 8.0x 6.0x 2.39x 10.2x 2.29x 10.0x 2.07x 9.3x 2.23x 10.3x 2.39x 2.42x 11.2x 11.3x 2.16x 2.17x 10.2x 10.2x 2.28x 10.8x 2.18x 10.3x 2.31x 2.33x 11.6x 12.0x 2.50x 2.00x 1.50x 90% 4.0x 1.00x 80% 2.0x 0.50x 70% Feb-12 May-12 Aug-12 Nov-12 Feb-13 0.0x Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1'12 Q2'12 Q3'12 Q4'12 0.00x S&P 500 HR & Outsourcing Source: S&P Capital IQ 7

HR Technology Public Company Analysis ($ in millions, except per share value) Enterprise Value / Closing Price % of 52 Equity Enterprise LTM LTM Margins LTM Company Ticker 2/26/13 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Concur Technologies, Inc. CNQR $69.37 91% $3,804 $3,575 $462 $333 $45 71.9% 9.7% 7.7x 79.7x The Ultimate Software Group, Inc. ULTI $97.08 91% $2,755 $2,697 $332 $188 $43 56.5% 12.9% 8.1x 63.1x 51job, Inc. JOBS $55.42 87% $1,645 $1,239 $232 $167 $82 72.0% 35.5% 5.3x 15.0x Dice Holdings, Inc. DHX $9.60 87% $620 $624 $195 $180 $71 92.0% 36.5% 3.2x 8.8x Monster Worldwide, Inc. MWW $5.04 48% $575 $591 $890 $482 $143 54.1% 16.0% 0.7x 4.1x Average 81% $1,880 $1,745 $422 $270 $77 69.3% 22.1% 5.0x 34.2x Median 87% $1,645 $1,239 $332 $188 $71 71.9% 16.0% 5.3x 15.0x Stock Price Performance (LTM) Trading Multiples (Average) 130% 45.0x 6.00x 120% 15.4% 40.0x 4.55x 4.82x 4.40x 5.00x 110% 100% 9.5% 35.0x 30.0x 25.0x 3.10x 3.35x 3.31x 27.2x 28.6x 37.0x 37.8x 31.6x 3.38x 3.07x 3.49x 3.76x 3.90x 3.86x 4.00x 3.00x 90% 20.0x 22.8x 22.3x 20.4x 21.3x 22.0x 22.5x 2.00x 80% 15.0x 18.3x 1.00x 70% Feb-12 May-12 Aug-12 Nov-12 Feb-13 10.0x Q1 '10 Q2 '10 Q3 '10 Q4 '10 Q1 '11 Q2 '11 Q3 '11 Q4 '11 Q1'12 Q2'12 Q3'12 Q4'12 0.00x S&P 500 HR Technology Source: S&P Capital IQ 8

Integrity Expertise Results John Hill Senior Managing Director hill@hydeparkcapital.com (813) 383-0205 Recent Transactions John McDonald Senior Managing Director mcdonald@hydeparkcapital.com (813) 383-0206 Keith Hodgdon Senior Vice President hodgdon@hydeparkcapital.com (813) 383-0208 Jeffrey Bridge Vice President bridge@hydeparkcapital.com (813) 383-0204 Michael Mariani Associate mariani@hydeparkcapital.com (813) 597-2649 Jennifer Paul Associate paul@hydeparkcapital.com (813) 383-0203 Hyde Park Capital Advisors, LLC 701 N. Franklin Street Tampa, FL 33602 Tel: 813-383-0202 www.hydeparkcapital.com Member FINRA/SIPC