Computershare : FY16 Results Management Presentation

COMPUTERSHARE

LIMITED

Positioning for sustained earnings growth

2016 Full Year Results Presentation

Chief Executive Officer and President

Chief Financial Officer 10 August 2016

Robust underlying business performance continues

Management EBITDA excluding both margin income and the impact of exchange rate movements has grown 46.1% since FY13

400 35%

350

300

379.3

30%

25%

USD million

250

200

150

100

50

EBITDA Margin

20%

15%

10%

5%

0 0%

FY13 FY14 FY15 FY16

Mgt EBITDA (excluding MI) EBITDA margin (excluding MI)

Management EBITDA translated at FY16 average exchange rates and excludes margin income

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Overview: Positioning for sustained earnings growth

› FY16: Resilient performance

• Total management revenue $2,074.7m, +5.0% 1

• Management EBITDA $557.1m, +0.5% (26.9% margin) and Management EBITDA excluding margin income

  $394.4m, +4.3% 1

• Management EPS 55.09 cents, -7.9%, in line with guidance (around -7.5%) and -4.3% in CC

• Free cash flow (excluding SLS advances) $347.4m, -10.5%

  - ROE 26.9%

• Register maintenance and corporate actions EBITDA $277.5m, +2.6% 1

• Business services EBITDA $153.6m, +13.9% 1

• Plan Managers EBITDA $58.9m, -20.8% 1 due primarily to a substantial reduction in transaction volumes following a period of sustained market volatility

  › Positioning for sustained earnings growth

• Investing for growth

  › Execution of mortgage servicing strategy well on track: UKAR and CMC

  › Investing to strengthen market leading position in Plans

• Sustain leading position in Registry with ongoing operational efficiencies

• Structural group wide cost review underway supported by external cost out specialists

  › Capital management and enhanced shareholder returns

• Net debt to EBITDA ratio (excluding non-recourse SLS Advance debt) 2.12x remains within Board policy range

• Recycling capital to drive growth, scale and improved returns - Corporate headquarters sold

• Disciplined acquisition strategy focused on near verticals and core competencies

• Clear capital management policy AU$105.2m of shares bought back to date. FY16 dividend up by 6.5%

1 Figures are quoted in constant currency (CC). CC equals FY16 results translated to USD at FY15 average exchange rates

3 All figures throughout this presentation are in USD million unless otherwise stated

FY17 outlook

› In constant currency, Computershare expects FY17 Management EPS to be slightly up on FY16 with a further update to be provided at the AGM

› This outlook assumes that equity markets remain at current levels and interest rate markets perform broadly in line with current market expectations and that FY17 corporate action revenue is similar to FY16

› Our constant currency guidance assumes that FY16 average exchange rates are used to translate FY17 earnings to USD (refer slide 52 for details)

› Also subject to the important notice on slide 53 regarding forward-looking statements

› FY17 guidance is given in constant currency terms to better illustrate Group underlying performance

› For comparative purposes, the base Management EPS for FY16 is 55.09 cents

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