Tendido y puesta en flecha de los conductores a) Prescripciones generales

In 2013 the finance facilities were adapted to the new situation. The syndicated bank facilities were lowered from € 700 million to € 500 million. And a € 60 million subordinated loan was granted by the existing syndicate of banks. This brought the finance structure back into the balance desired. The remainder of the Stichting Start subordinated loan (€ 18 million) was fully repaid in 2013.

NEXT STEPS IN STRATEGIC EXECUTION

USG People’s activities have become less fragmented and the organisation has been simplified as a result of the transition achieved in 2013. Investments in the company’s strategic ambitions for the continuing operations can therefore be more focused, unified and influential. Project United, which was launched in the second half of 2013, gives each of our four star brands – Start People, Unique, Secretary Plus and USG Professionals – a clear and distinct focus. This project will carefully be further executed in 2014 and completed in the course of the year. This provides a solid basis on which we can achieve new growth and will find innovative solutions that will help our clients improve their organisation.

In 2014 a great deal of attention will be focused on effectively executing project United, further improving the company’s debt position and achieving higher returns by maximising our improved commercial effectiveness as a result of the organisational changes. Improvement programmes remaining ongoing in order to continue to achieve operational excellence. We aim to strengthen our existing position through product and process innovation. Project United has improved the time to market and our commercial effectiveness, so that we can win market share.

OUTLOOK

At the beginning of 2013 various macroeconomic signs already indicated that the recession had bottomed out. Business and consumer confidence was still weak at the start to the year but started to recover later. Midway through the year there were signs of clear improvement as well as a rise in demand for flexibility in company staffing organisations in the course of the year. A positive trend developed in demand for our services and this trend continued at the start of 2014. This provides a good starting point for this year, with economic recovery expected to gradually continue.

In 2013 we adjusted our organisation which made our position more focused and reduced our cost level significantly. We will continue to shape the combination of our four star brands in 2014 and further increase our competitiveness in the process. Our reshaped organisation will enable us to focus our attention and resources on markets in which we hold a strong position. We will continue to invest in the development of our infrastructure and the services we provide to clients and candidates in these markets. As a result of the transformation USG People will be well positioned to further develop and benefit from the attractive growth and profit potential these markets have to offer as economic recovery becomes more sustained.

Furthermore the development of our added value and an ongoing trend among companies to seek more flexibility in their staffing organisations offer good prospects for structural demand for our services, also in times of moderate economic growth.

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CEES VEERMAN

1949, Dutch | Chairman | first appointed in 2010 | current term 2010-2016 Interim chairman of the remuneration and appointments committee

Cees Veerman has chaired the Supervisory Board of USG People N.V. since 1 March 2010. He was the Dutch minister of Agriculture, Nature and Food Quality from 2002 to 2007 and CEO of Bracamonte B.V. until September 2013. Cees currently holds professorships at the universities of both Tilburg and Wageningen. In addition, he sits on the supervisory boards of companies including Rabobank Nederland, Barenbrug Holding B.V., Koninklijke Reesink N.V. and Ikazia Ziekenhuis Rotterdam, and is a member of the supervisory committee of research institute Deltares. He is also a member of the executive committee of the Netherlands Organisation for Scientific Research (NWO).

SUPERVISORY BOARD MEMBERS’ PROFILES

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RINSE DE JONG

1948, Dutch | first appointment in 2010 | current term 2010-2014 Chairman of the audit committee

Rinse de Jong joined the USG People N.V. Supervisory Board on 20 December 2010. A registered accountant, Rinse was most recently employed as Chief Financial Officer of Essent, where he was also responsible for risk management and IT. He is interim chairman of the supervisory board of NV Nederlandse Gasunie and sits on the supervisory board and chairs the audit committee of Enexis Holding N.V. He is also chairman of the supervisory board of Bakeplus Holding B.V. Rinse is a member of the Board of Supervision of the Guarantee Fund for the Health Care Sector (Waarborgfonds voor de Zorgsector) and an executive committee member of the foundation Stichting Aandelenbeheer BAM Groep and of the Foundation for the holding of priority shares in the public limited liability company Wereldhave.

MARIKE VAN LIER LELS

1959, Dutch | first appointed in 2002 | current term 2010-2014 Member of the audit committee

Marike van Lier Lels has been a member of the USG People N.V. Supervisory Board since December 2002. She graduated from Dordrecht technical college in 1983 and from Delft Technical University in 1986. She subsequently held a number of management positions with Royal Nedlloyd, Van Gend & Loos, Deutsche Post Euro Express and Schiphol Group. Marike is a member of the supervisory boards of various companies including KPN, Reed Elsevier, Eneco and TKH Group, and a member of the executive board of Vereniging Aegon. She also chairs the Board of Supervision of the Netherlands Society for Nature and the Environment, is a member of the Council for the Environment and Infrastructure, a member of the Central Planning Committee of the Dutch Central Planning Bureau and until 2012 she was a member of the Dutch Advisory Council for Science and Technology Policy (AWT).

ALEX MULDER

1946, Dutch | first appointed in 2006 | current term 2010-2014 Member of the remuneration and appointments committee

Alex Mulder founded Unique Uitzendburo in 1972, which by consequence makes him the founder of USG People N.V., of which he was chairman and CEO until 2006. At the General Meeting of Shareholders in 2006 Alex was appointed to the USG People N.V. Supervisory Board. Alex is also a delegated director of Amerborgh International N.V., a management company whose activities include investing and acquiring stakes in promising (young) companies as well as in art and culture. He is also chairman of Stichting AM Foundation.

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REPORT OF THE