< R KORN FERRY FY'22 Q1 Earnings Call September 8, 2021 Safe Harbor Statement FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to future results and events are based on Korn Ferry's current expectations. You are cautioned not to place undue reliance on such statements. Actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. For a detailed description of many of those risks and uncertainties, please refer to Ko ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ Commission File Number 001-14505 KORN FERRY (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-14505 KORN FERRY (Exact Name of Registrant as Specified in its Charter) Delaware 95-2623879 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identific ...

Korn Ferry (NYSE:KFY) Q4 2021 Earnings Conference Call June 22, 2021 12:00 PM ET Company Participants Gary Burnison - Chief Executive Officer Bob Rozek - Chief Financial Officer, Executive Vice President & Chief Corporate Officer Gregg Kvochak - Senior Vice President of Investor Relations Conference Call Participants George Tong - Goldman Sachs Tim Mulrooney - William Blair Marc Riddick - Sidoti Toby Sommer - Truist Securities Mark Marcon - Baird Operator Ladies and gentlemen, thank you for standing by. Wel ...

Part I. Financial Information [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) Presents Korn Ferry's unaudited consolidated financial statements for Q3 FY2021, detailing balance sheets, income, and cash flows [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) Total assets increased to $2.86 billion, driven by cash and marketable securities, while liabilities and equity also grew Consolidated Balance Sheet Highlights (in thousands) | Account | Jan 31, 2021 (unaudited) | Apr 30, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$2,863,467** | **$2,743,828** | | Cash and cash equivalents | $694,128 | $689,244 | | Goodwill | $625,549 | $613,943 | | **Total Liabilities** | **$1,568,473** | **$1,520,137** | | Long-term debt | $394,629 | $394,144 | | **Total Stockholders' Equity** | **$1,294,994** | **$1,223,691** | [Consolidated Statements of Income](index=4&type=section&id=Consolidated%20Statements%20of%20Income) Q3 FY2021 fee revenue decreased to $475.4 million, but operating and net income significantly increased, leading to higher EPS Q3 FY2021 vs Q3 FY2020 Performance (in thousands, except per share data) | Metric | Q3 FY2021 | Q3 FY2020 | | :--- | :--- | :--- | | Fee Revenue | $475,360 | $515,325 | | Operating Income | $65,155 | $31,595 | | Net Income Attributable to Korn Ferry | $51,319 | $19,993 | | Diluted EPS | $0.94 | $0.36 | Nine Months FY2021 vs FY2020 Performance (in thousands, except per share data) | Metric | Nine Months Ended Jan 31, 2021 | Nine Months Ended Jan 31, 2020 | | :--- | :--- | :--- | | Fee Revenue | $1,254,896 | $1,492,263 | | Operating Income | $69,532 | $153,798 | | Net Income Attributable to Korn Ferry | $48,264 | $105,748 | | Diluted EPS | $0.88 | $1.90 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating cash flow slightly decreased, while investing cash outflow significantly reduced, and financing cash shifted to usage Cash Flow Summary for Nine Months Ended Jan 31 (in thousands) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $54,305 | $57,137 | | Net cash used in investing activities | ($30,301) | ($191,073) | | Net cash (used in) provided by financing activities | ($55,806) | $74,116 | | **Net increase (decrease) in cash** | **$4,884** | **($62,652)** | [Notes to Consolidated Unaudited Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Unaudited%20Financial%20Statements) Notes detail accounting policies, business lines, COVID-19 restructuring charges, segment performance, and long-term debt terms - The company operates through four lines of business: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search[24](index=24&type=chunk) - In response to COVID-19, the company adopted a restructuring plan in April 2020. For the three and nine months ended Jan 31, 2021, this resulted in net restructuring charges of **$0.8 million** and **$30.7 million**, respectively, mainly for severance[101](index=101&type=chunk) - The company has **$400 million** in 4.625% Senior Unsecured Notes due 2027 and a **$650 million** senior secured revolving credit facility, which had no outstanding balance as of January 31, 2021[110](index=110&type=chunk)[112](index=112&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=31&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q3 FY21 results, highlighting COVID-19 impact, strategic responses, cost reductions, and strong liquidity - The company's strategy focuses on client collaboration across its diversified business lines, evolving from a mono-line firm to a broader organizational consulting firm[128](index=128&type=chunk) - In response to COVID-19's economic impact, the company initiated a restructuring plan on April 20, 2020, which included workforce reductions, temporary furloughs, and salary reductions to adjust its cost base[133](index=133&type=chunk) - Business conditions improved substantially in Q3 FY21, with fee revenue increasing **9% sequentially** from Q2. This improvement, combined with a restructured cost base, led to notably better profitability[134](index=134&type=chunk) Q3 FY2021 vs Q3 FY2020 Key Metrics | Metric | Q3 FY2021 | Q3 FY2020 | Change | | :--- | :--- | :--- | :--- | | Fee Revenue | $475.4M | $515.3M | -8% | | Operating Income | $65.2M | $31.6M | +106% | | Net Income (to Korn Ferry) | $51.3M | $20.0M | +157% | | Adjusted EBITDA | $96.7M | $78.1M | +24% | [Quantitative and Qualitative Disclosures About Market Risk](index=50&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from foreign currency fluctuations and interest rate changes, with foreign currency being the primary exposure - The company is exposed to foreign currency risk from its global operations. A hypothetical **10% adverse change** in exchange rates could result in a foreign exchange loss of **$11.2 million**[262](index=262&type=chunk) - The company utilizes foreign currency forward contracts to offset risks from foreign currency exposures, but these are not designated as hedging instruments[262](index=262&type=chunk) - Interest rate risk is primarily related to the **$650M** revolving credit facility and borrowings against COLI policies. As of January 31, 2021, there were no amounts outstanding under the revolver, limiting this exposure[263](index=263&type=chunk) [Controls and Procedures](index=51&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of January 31, 2021[265](index=265&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[265](index=265&type=chunk) Part II. Other Information [Legal Proceedings](index=52&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in routine litigation, but no current proceedings are expected to materially affect its business - As of the report date, the company is not involved in any legal proceedings expected to have a material adverse effect on its business or financials[268](index=268&type=chunk) [Risk Factors](index=52&type=section&id=Item%201A.%20Risk%20Factors) No material changes occurred to the risk factors previously disclosed in the company's FY2020 Form 10-K - No material changes have occurred to the risk factors disclosed in the company's Form 10-K for the fiscal year ended April 30, 2020[269](index=269&type=chunk) [Issuer Purchases of Equity Securities](index=52&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20Use%20of%20Proceeds%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company repurchased 223,695 shares in Q3 FY2021, with $127.9 million remaining for future repurchases Share Repurchases for Q3 FY2021 | Period | Total Shares Purchased | Average Price Paid | Shares Purchased Under Program | Value Remaining Under Program | | :--- | :--- | :--- | :--- | :--- | | Nov 2020 | 205,000 | $34.14 | 205,000 | $128.5M | | Dec 2020 | 17,426 | $41.23 | 15,000 | $127.9M | | Jan 2021 | 1,269 | $48.25 | 0 | $127.9M | | **Total** | **223,695** | **$34.77** | **220,000** | **$127.9M** | - As of January 31, 2021, approximately **$127.9 million** remained available for stock repurchases under the company's share repurchase program[270](index=270&type=chunk)[271](index=271&type=chunk) [Other Information](index=52&type=section&id=Item%205.%20Other%20Information) Compensation for executives and directors was restored in Q3 FY2021 due to strong performance, reversing COVID-19 reductions - In light of strong Q3 FY2021 financial performance, the Compensation Committee approved payments to restore the reduced base salaries of named executive officers and cash retainers of non-employee directors for the third quarter[274](index=274&type=chunk) - This decision follows a similar restoration for the second quarter and reverses the temporary **50%** compensation reductions initially put in place due to the COVID-19 pandemic[273](index=273&type=chunk)[274](index=274&type=chunk) [Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO/CFO certifications and Inline XBRL documents - Key exhibits filed include CEO and CFO certifications and Inline XBRL data files[275](index=275&type=chunk)

Korn Ferry. (NYSE:KFY) Q3 2021 Results Earnings Conference Call February 22, 2021 12:00 PM ET Company Participants Gregg Kvochak - Senior Vice President of Investor Relations Gary Burnison - Chief Executive Officer Bob Rozek - Chief Financial Officer, EVP & Chief Corporate Officer Conference Call Participants George Tong - Goldman Sachs Tim Mulrooney - William Blair Mark Marcon - Baird Marc Riddick - Sidoti Toby Sommer - Truist Securities Operator Ladies and gentlemen, thank you for standing by, and welcome ...

< R KORN FERRY FY'21 Q3 Earnings Call February 22, 2021 Safe Harbor Statement FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to our outlook, projections, goals, strategy, future plans and expectations, and other statements of future events or conditions future results and events are based on Korn Ferry's current expectations. You are cautioned not to place undue reliance on such statements. Actual results in future periods may differ materially from those currently expected because o ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ___________ Commission File Number 001-14505 KORN FERRY (Exact Name of Registrant as Specified in its Charter) Delaware 95-2623879 (State or Other Jurisdi ...

Financial Data and Key Metrics Changes - Revenue increased by 27% sequentially to $435 million, with adjusted EBITDA of $66 million and an adjusted EBITDA margin of 15.2% [8][30][32] - Fee revenue declined only 12% year-over-year, showing improvement each month of the quarter [30][32] - Adjusted fully diluted earnings per share rose to $0.54, up from $0.73 sequentially [32] Business Line Data and Key Metrics Changes - Digital segment revenue was $75 million, up 34% sequentially and 14% year-over-year, with subscription-based fee revenue at $22.7 million, up 43% year-over-year [37][24] - Consulting generated $126.7 million in fee revenue, up 28% sequentially and down 12% year-over-year, with strong demand for virtually delivered solutions [38] - RPO and professional search revenue was $85.6 million, up 25% sequentially and down 10% year-over-year, with RPO new business reaching $120 million [40][28] - Executive Search revenue was approximately $148 million, up 23% sequentially, with North America seeing a 32% increase [42] Market Data and Key Metrics Changes - Marquee and regional account fee revenue declined approximately 14% year-over-year, compared to a 23% decline in the rest of the portfolio [23] - Subscription-based new business improved to $29 million, up 39% year-over-year [24] - Monthly new business trends improved, with November in line with previous months and years [44] Company Strategy and Development Direction - The company aims to build a preeminent global organizational consultancy, focusing on digital transformation and organizational restructuring [19][12] - Leadership U for Humanity initiative launched to develop diverse leaders, aiming to create 1 million new leaders [14][15] - The shift from analog to digital delivery is a key strategy, with 23% of revenue in FY 2020 coming from this segment [16] Management's Comments on Operating Environment and Future Outlook - Management believes there will be more change in the next two years than in the last decade, presenting opportunities for the company [11] - The company is cautious about future guidance due to uncertainties surrounding COVID-19 and its economic impact [46][110] - Management expects a typical seasonal decline of 3% to 5% in the third quarter, but the impact of COVID-19 remains uncertain [47] Other Important Information - The company has a strong balance sheet with cash and marketable securities totaling $774 million [33] - Cost-saving initiatives have been implemented, with plans to maintain a leaner cost structure moving forward [34][56] Q&A Session Summary Question: Trends in Digital Business - The digital business saw a broad-based customer response, particularly in training and development, with a significant shift to virtual delivery [50][51] Question: EBITDA Margins Outlook - Management anticipates that margins could improve over time due to reimagined business strategies and cost efficiencies [54][56] Question: Revenue Increase Drivers - The revenue increase is attributed to a combination of strategic execution and market resilience rather than solely pent-up demand [64][66] Question: Large Engagements and Margin Profile - Larger engagements are driven by organizational transformation and digital transition, with expectations of improved margins from these projects [72][73] Question: Recurring Business Models - The RPO business is characterized as a recurring model, with strong new business and renewals indicating a healthy trend [77][80] Question: Acquisition Strategy - Future acquisitions will focus on client impact and return on capital, with an emphasis on maintaining high margins [88][89] Question: Engagement Types and Focus Areas - Companies are focusing on organizational transformation, digital transition, and diversity and inclusion initiatives [105][106]

Part I. Financial Information [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) Korn Ferry experienced a significant downturn in Q1 FY2021 due to COVID-19, reporting decreased revenue, a net loss, and negative operating cash flow [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) | Balance Sheet Items | July 31, 2020 (in thousands) | April 30, 2020 (in thousands) | | :--- | :--- | :--- | | **Total Current Assets** | $1,093,282 | $1,237,083 | | **Total Assets** | $2,618,103 | $2,743,828 | | **Total Current Liabilities** | $491,331 | $624,207 | | **Total Liabilities** | $1,400,082 | $1,520,137 | | **Total Stockholders' Equity** | $1,218,021 | $1,223,691 | - Cash and cash equivalents decreased from **$689.2 million** at April 30, 2020, to **$542.8 million** at July 31, 2020[7](index=7&type=chunk) [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) | Income Statement Items | Three Months Ended July 31, 2020 (in thousands) | Three Months Ended July 31, 2019 (in thousands) | | :--- | :--- | :--- | | **Total Revenue** | $346,883 | $496,198 | | **Total Operating Expenses** | $390,678 | $435,864 | | **Operating (Loss) Income** | $(43,795) | $60,334 | | **Net (Loss) Income Attributable to Korn Ferry** | $(30,833) | $42,951 | | **Diluted (Loss) Earnings Per Share** | $(0.58) | $0.76 | - The company incurred restructuring charges of **$27.5 million** in the quarter ended July 31, 2020, with no similar charges in the prior-year period[9](index=9&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) | Cash Flow Items | Three Months Ended July 31, 2020 (in thousands) | Three Months Ended July 31, 2019 (in thousands) | | :--- | :--- | :--- | | **Net Cash Used in Operating Activities** | $(144,262) | $(161,919) | | **Net Cash Used in Investing Activities** | $(13,210) | $(9,209) | | **Net Cash Used in Financing Activities** | $(7,805) | $(24,927) | | **Net Decrease in Cash and Cash Equivalents** | $(146,458) | $(201,723) | [Notes to Consolidated Unaudited Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Unaudited%20Financial%20Statements) - The company operates through four global segments: Consulting, Digital, Executive Search, and Recruitment Process Outsourcing (RPO) & Professional Search[24](index=24&type=chunk) - In response to the COVID-19 pandemic, the company adopted a restructuring plan, resulting in charges of **$27.5 million** for the quarter, primarily for severance costs[93](index=93&type=chunk) | Industry | Fee Revenue Q1'21 (in thousands) | % of Total | Fee Revenue Q1'20 (in thousands) | % of Total | | :--- | :--- | :--- | :--- | :--- | | Industrial | $95,311 | 27.7% | $138,312 | 28.5% | | Financial Services | $65,727 | 19.1% | $86,212 | 17.8% | | Life Sciences/Healthcare | $65,450 | 19.0% | $82,265 | 17.0% | | Consumer Goods | $44,778 | 13.0% | $71,698 | 14.8% | | Technology | $49,324 | 14.4% | $70,803 | 14.6% | | Education/Non-Profit/General | $23,507 | 6.8% | $35,259 | 7.3% | - As of July 31, 2020, the company had **$400 million** in 4.625% Senior Unsecured Notes due 2027 and no outstanding balance on its **$650 million** revolving credit facility[100](index=100&type=chunk)[102](index=102&type=chunk)[106](index=106&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the revenue decline to COVID-19, initiated a restructuring plan to reduce costs, and affirms sufficient liquidity despite operating losses and negative cash flow [The Impact of COVID-19](index=27&type=section&id=The%20Impact%20of%20COVID-19) - The COVID-19 pandemic severely restricted economic activity, leading to a significant decrease in demand for the company's products and services across all business segments and geographies in Q1 FY2021[121](index=121&type=chunk) - On April 20, 2020, the company initiated a restructuring plan to adjust its cost base, which included workforce reductions, temporary furloughs, salary reductions, and other G&A cost-saving measures[123](index=123&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) | Segment | Fee Revenue Q1'21 (in millions) | Fee Revenue Q1'20 (in millions) | YoY Change | | :--- | :--- | :--- | :--- | | Consulting | $99.3 | $137.5 | -28% | | Digital | $56.0 | $58.0 | -3% | | Executive Search | $120.1 | $193.2 | -38% | | RPO & Professional Search | $68.7 | $95.8 | -28% | | **Total** | **$344.1** | **$484.5** | **-29%** | - Compensation and benefits expense decreased by **14%** to **$284.0 million**, primarily due to an **11%** decrease in average headcount and other cost-saving actions[148](index=148&type=chunk) - General and administrative expenses fell **28%** to **$47.1 million**, driven by lower marketing, premises, legal, and travel-related expenses[155](index=155&type=chunk) - The company recorded an operating loss of **$43.8 million**, a **$104.1 million** decrease from the **$60.3 million** operating income in the prior-year quarter, driven by lower revenue and restructuring charges[165](index=165&type=chunk) [Liquidity and Capital Resources](index=36&type=section&id=Liquidity%20and%20Capital%20Resources) - The company's capital allocation priorities are investing in growth, returning capital to stockholders via a regular quarterly dividend of **$0.10 per share**, and opportunistic share repurchases[182](index=182&type=chunk)[187](index=187&type=chunk) - As of July 31, 2020, the company had cash, cash equivalents, and marketable securities of **$733.0 million** and **$646.0 million** available for borrowing under its revolving credit facility[190](index=190&type=chunk)[186](index=186&type=chunk) - Net cash used by operating activities was **$144.3 million** for the quarter, primarily due to the payment of annual bonuses earned in fiscal 2020[192](index=192&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks are foreign currency fluctuations and interest rate changes, managed through forward contracts and limited by fixed-rate debt - The company is exposed to foreign currency risk, primarily from the Pound Sterling, Canadian Dollar, Euro, and other major currencies. A hypothetical **10%** change in these exchange rates could result in a gain or loss of **$12.3 million**[208](index=208&type=chunk) - Interest rate risk is limited to the company's revolving credit facility, which had no outstanding balance as of July 31, 2020, and borrowings against company-owned life insurance (COLI) policies[209](index=209&type=chunk) [Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded disclosure controls were effective as of July 31, 2020, with no material changes in internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of July 31, 2020[211](index=211&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[212](index=212&type=chunk) Part II. Other Information [Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any legal proceedings expected to have a material adverse effect on its business - As of the report date, the company is not engaged in any legal proceedings expected to have a material adverse effect on its business[214](index=214&type=chunk) [Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) No material changes have occurred to the risk factors previously disclosed in the company's Annual Report on Form 10-K - No material changes have been made to the risk factors described in the company's Form 10-K for the year ended April 30, 2020[215](index=215&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities](index=41&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company did not repurchase shares during the quarter, withheld **161,027** shares for taxes, and has **$158.3 million** remaining for repurchases - The company did not repurchase any shares as part of its publicly announced program during the three months ended July 31, 2020[216](index=216&type=chunk) - A total of **161,027** restricted shares were withheld to cover taxes on vested awards[216](index=216&type=chunk) - As of July 31, 2020, **$158.3 million** remained available for future repurchases under the existing program[216](index=216&type=chunk)[217](index=217&type=chunk) [Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents and CEO/CFO certifications - The report includes standard exhibits such as CEO and CFO certifications (Exhibits 31.1, 31.2, 32.1) and Inline XBRL data files[219](index=219&type=chunk)