Q4 2015Company Presentation

Safe Harbor Statement and DisclosureStatements in this presentation regarding 51job’s future business, operating results and financial condition constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management’s current views and expectations and actual results could differ materially. Among the factors that could cause the Company’s actual results to differ are, but not limited to market acceptance of its services; its ability to expand into other recruitment and human resource services; its ability tolimited to, market acceptance of its services; its ability to expand into other recruitment and human resource services; its ability to control operating costs and expenses; its potential need for additional capital and the availability of such capital; changes in its management team and other key personnel; behavioral and operational changes of customers in meeting their human resource needs as they respond to evolving social, economic, regulatory and political changes in China as well as stock market volatilities; introduction by its competitors of new or enhanced products or services; price competition in the market for the various human resource services that the Company provides in China; fluctuations in the value of the Renminbi against the U S dollar and otherresource services that the Company provides in China; fluctuations in the value of the Renminbi against the U.S. dollar and other currencies; acceptance of new products and services developed or introduced by the Company outside of the human resources industry; any risks related to acquisitions or investments the Company has made or will make in the future; and fluctuations in general economic conditions. For additional information on these and other potential factors that could affect the Company’s financial results, please refer to the Company’s filings with the Securities and Exchange Commission. 51job undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.obligation to publicly update any forward looking statements whether as a result of new information, future events or otherwise.

To supplement the consolidated financial statements presented in accordance with US GAAP, the Company uses non-GAAP financial measures to exclude share-based compensation expense, gain/loss from foreign currency translation, convertible senior notes issuance costs, change in fair value of convertible notes and change in fair value of zero-strike call options, as well as the related tax effect of these items. The Company believes excluding these items from its non-GAAP financial measures is useful forp y gits management and investors to assess and analyze the Company’s core operating results as these expenses are not directly attributable to the underlying performance of the Company’s business operations and may not impact its cash earnings. The Company also believes that excluding these expenses are important in helping investors to understand the Company’s current financial performance and future prospects and to compare business trends among different reporting periods on a consistent basis. The presentation of these additional measures should not be considered a substitute for or superior to GAAP results or asp pbeing comparable to results reported or forecasted by other companies.

The facts and statistics used in this presentation relating to the human resource services industry and economy in China are derived from various government and institute research publications. While 51job has taken reasonable care to ensure that these facts and statistics presented are accurately reproduced from such sources, 51job has not independently verified them. These

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facts and statistics may not be comparable to similar facts and statistics collected for the industry or economy in the United States and other countries.

Leading HR Services Provider in China

One Stop Shop for Employers’ Human Resource NeedsOne-Stop Shop for Employers Human Resource Needs

L d i O li d HR S i S tLeader in Online and HR Services Segments

Large National Footprint

Diversified Customer Base in a Focused Vertical

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Comprehensive Product Offering

ProductsBusiness Lines 2015 Revenue Mix Description

Online

Core offerings:• 51job.com (age 20s-30s)• eHire (employer platform)

• Leading technology platforms for entire white collar hiring range from college graduates to experienced professionalsOnline

Recruitment Services

65%( p y p ) professionals

• Job seekers can maintain an account and apply to jobs for free

• Employers/recruiters post job ads for a fee

Additions:• 51jingying.com (experienced

workers)

• Business process

a fee• Search large database of resumes to

identify passive candidates

• Broad portfolio of “one stop”

workers)• Yingjiesheng.com (college)

Other Human Resource Related

35%

• Business process outsourcing

• Training & assessment• Campus recruitment• Executive search

• Broad portfolio of one-stop solutions to meet wide range of HR needs

• Integrated online/offline strategy to deliver complete, high quality

Services • Executive search• HR conferences• Compensation analysis

p g q yservices

• Shared sales force and resources to drive overall scale efficiency and higher productivity

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Unique Integrated Services Model

Employment Lifecycle Products & Services Tangible Results

Vast Candidate Poolntify

ing

Vast Candidate PoolHigh Quality ResumesId

enac

ting

MobileOnline

Superior Customer Service

Attr

aop

ing

MobileOnline

End-to-End Solutionsing

Dev

elo

Ret

ain

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Key Investment Highlights

Economic Growth and Secular Trends Underpinning HR Market Development

Premier Human Resource Brand and Online Leader

Large Sales Force with Nationwide FootprintLarge Sales Force with Nationwide Footprint

Scalable Operating Platform and Healthy Margins

Highly Experienced Management Team with a Proven Track Record

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China’s Economic Growth and Development

Economic Growth ComparisonRecent Selected Economic and Demographic Data

Registered Businesses in China(in millions)

65 3

52%

U.S.

GDP (US$B) 17,973 10,865

China

GDP Growth 2.4% 6.9%

47.2 51.443.0

56.965.3

%

Population (MM) 323 1,380Urban 81% 55%

2010-2015 Avg Growth 2.1% 8.3%

2010 2011 2012 2013 2014Individual businesses Private enterprises

College Graduates in China

(in millions)

Increasing Contribution of Services Sector(as % of total China GDP)

6.6 6.8 7.0 7.3

7.5

33%40% 41% 43%

50%

2011 2012 2013 2014 2015

33%

1995 2000 2005 2010 2015Source: United States – U.S. Census, BEA

China – National Bureau of Statistics, PRC State Administration for Industry and Commerce, PRC Ministry of Education

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2011 2012 2013 2014 20151995 2000 2005 2010 2015

Leadership in Online Segment

Growth of Internet Usage in China

Internet Users (MM) 457 513 564 618 649 688

2010 2011 2012 2013 2014 2015

% of Total Population 34% 38% 42% 46% 48% 50%

Source: CNNIC

Mobile Internet Users (MM) 303 356 420 500 557 620% of Internet Users 66% 69% 74% 81% 86% 90%

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Registered User Accounts at 51job.com Job Seeker Resumes at 51job.com

(in millions, year end as of Dec 31) (in millions, year end as of Dec 31)

45 54

64 73

84 96

3644

54 64

75 90

2010 2011 2012 2013 2014 2015

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2010 2011 2012 2013 2014 20152010 2011 2012 2013 2014 2015 2010 2011 2012 2013 2014 2015

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National Coverage with Large Direct Sales Force

3,400+Direct Sales ForceDirect Sales Force

Covering104 Cities

25 S l Offi

★

25 Sales Offices

Sales Coverage for Online Services

Wuhan Call Center

▲

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Scalable Operating Platform and Healthy Margins

Gross Profit and Margin Performance

(RMB MM, Margin Calculated as % of Net Revenues)

g

1,485

929 1,0421,166

1,336

232 293366 450 438

468

686

61%

67%72% 72% 73% 73% 72%

232 293

51% 52%55% 56%

54%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

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Highly Experienced Management Team

• Rick Yan, Chief Executive Officer & Co-Founder• Tenure: 16 years• Director and Head of China Practice, Bain & Company (11 years)• 2 HBR articles on China, speaker at many business conferences• MBA Distinction INSEAD B Sc and M Phil Hong Kong University• MBA Distinction, INSEAD, B.Sc and M.Phil, Hong Kong University

Kathleen ChienCOO & Acting CFO,

Co-FounderT 17

David JinSenior VP

Tenure: 16 years

Tao WangVice President

Tenure: 16 yearsTenure: 17 years

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World Class Board of Directors

• Co-founder and General Partner of DCM (venture capital firm) in the Silicon Valley

• Previously worked at McKinsey & Company, Apple and Recruit

David ChaoChairman of the Board y y p y pp

• Director of Renren Inc.the Board

• COO of E-House (China) Holdings Limited• Director of Country Style Cooking Restaurant Chain Co Ltd and Leju

Li-Lan ChengIndependent

• CFO YY IncEric He

• Director of Country Style Cooking Restaurant Chain Co., Ltd. and LejuHoldings Limited

Independent Director

• CFO, YY Inc.• Director of MOL Global Inc.

Eric HeIndependent Director

Kazumasa Watanabe Non-executive

• Corporate executive officer of Recruit Holdings Co., Ltd. (largest HR services company in Japan)

• Head of research and development for Asia sales promotion business

• Prior experience: Director and the Head of China Practice at Bain & Company for 11 years

Rick YanDirector and

director

CEO

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Financial Highlights

Historical Revenue Performance and Contribution

Total Revenue Growth Trend Despite Periods of Economic Uncertainty and Print Transition

(RMB MM)

480 596 698 844 860 8171,090

1,370 1,512 1,677 1,897 2,102

480 596

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Strategic Focus on High Potential Online and Other HR Services Businesses

(Calculated as % of Total Revenues)

40%

60%

80%Online

0%

20%

40%

Print

Other HR

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2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Capturing Attractive Online Opportunity

388 407

Unique Employers Using Online Services (1)

(in thousands)

143 214 244 272

334 388

39 57 75 94 103

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Online Recruitment Services Revenues (2)

1 356(RMB MM)

543 803

943 1,084

1,248 1,356

112 159 220 283 312 333

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

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(1) An employer who purchases online services multiple times or in multiple quarters is only counted as ONE unique employer for the annual figure. (2) Government policy of 6% value-added tax on online revenues starting June 1, 2014 affects growth rate and margin comparability to prior periods.

Balancing Returns and Investments for Long-Term Growth

643

Sales and Marketing Expenses (1) Operating Income (1)

(RMB MM, Margin Calculated as % of Net Revenues) (RMB MM, Margin Calculated as % of Net Revenues)

654

274 324 363 451

552 643

31%296

479 536 554 605 654

29%37% 37% 34% 33% 32%

27% 25% 25%28%

30% 31%

2010 2011 2012 2013 2014 2015

29% 32%

2010 2011 2012 2013 2014 2015

280 284 279 288 301 296 287

Quarterly Unique Employers (2)

(in thousands)

1 282

Quarterly Online ARPU (3)

(RMB)

236 259

280 279 1,226

1,1631,114 1,112

1,1441,077

1,1161,157

1,282

(1) Excludes share-based compensation expense. Government policy of 6% value-added tax on online revenues starting June 1, 2014 affected growth

4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15

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rate and margin comparability to prior periods.(2) An employer who purchases online services multiple times or in multiple quarters is only counted as ONE unique employer for the annual figure.(3) Reflects the adoption of a 6% value added tax starting on June 1, 2014, which reduced the amount of online revenues recognized.

Consistent Profitability and Strong Cash Flow Generation

Track Record of Profitability (1)

Non-GAAP Net Income Attributable to 51job (RMB MM)638 693

137 151 122 140265

449520 572

638

68 87 137 151 122 140

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

747 756

Cash Flow From Operations Strong Cash Position for M&A (2)

(RMB MM) (RMB MM)

4 495 4,951

344 497

575 747 756

1,6002,054

2,5313,148

4,495

2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2015

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(1) Excludes share-based compensation expense, gain/loss from foreign currency translation, convertible notes issuance costs in 2014 and mark-to-market changes in fair value of convertible notes and call options.

(2) Includes cash and short-term investments, which consist of certificates of deposit with original maturities of three months to one year.

Growth Initiatives

Key Growth Initiatives

New productIncrease customer New product development to widen service

scope

Increase customer wallet share

through up-selling and cross-selling

Selectively pursue strategic investments

and acquisitions

Expand sales force to drive new customer

acquisitionand acquisitions acquisition

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