ANSELL LIMITED — AGM Information 2011

Oct 18, 2011

Annual General Meeting

17 October 2011

ANSELL LIMITED ANNUAL GENERAL MEETING Magnus Nicolin Chief Executive Officer & Managing Director

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17 October 2011
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Disclaimer

The following presentation has been prepared by Ansell Limited for information purposes only. The presentation may contain forward looking statements or statements of opinion.

No representation or warranty is made regarding the accuracy, completeness or reliability of the forward looking statements or opinion or the assumptions on which either are based. All such information is, by its nature, subject to significant uncertainties outside of the control of the company.

To the maximum extent permitted by law, the company and its officers do not accept any liability for any loss arising from the use of the information contained in this presentation.

The information included in this presentation is not investment or financial product advice. Before making any investment decision, you should seek appropriate financial advice, which may take into account your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance.

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F’11 was A Year of Significant Change …

Ansell has re-organised and reengineered:

• Introduced Global Business Units and changed operating structure to a Matrix, to drive

• faster growth

• Integrated Sales & Operations Planning, Manufacturing, Sourcing, QA and Distribution.

• Improved operating processes for forecasting and NPD

• Simplified branding and SKU offering

• Designed new business processes and commenced roll out (in July 2011) of a new ERP

• system (Project Fusion)

Ansell has absorbed large financial hits:

• Raw material pricing driven cost increase of over $50 million

• Negative year-on-year FX impact from cost currencies

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…and yet we continued to make large investments

Fusion: ($21M)

• North America went live July 2011, Brazil underway

• Total Project Cost estimate increased to ~$80M

Capability enhancement and Product Development ($15M)

• Plant expansion/automation (Bangalore, Melaka, Bangkok, Colombo)

• ACT investments

Expanded sales & marketing capacity ($10M)

• Hong Kong – Asia Pac regional head office

• Korean selling entity established

• Dubai – Middle East regional office established

• 50 additional sales & marketing staff hired worldwide

• Improved coverage in Moscow, Krakow, Shanghai

M&A: ($15M)

• Sandel Medical – Acquired for $13.5m

• Investments in condom distribution in China

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Despite the large cost hits and investments, F’11 was an Outstanding Year

✓ ✓ ✓ ✓

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Sustained focus on Shareholder Returns

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-7% 35% 32%
-11% 39% 45% TSR CAGR
since
inception of
Ansell Ltd in
April 2002
AUD ~11%
USD ~19%
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F’03 F’04 F’05 F’06 F’07 F’08 F’09 F’10 F’11 CAGR
AUD EPS 32.8 39.1 54.5 76.9 67.6 73.9 89.2 89.6 92.4 ~14%
DPS 11.0 13.0 17.0 21.0 24.0 26.5 28.0 30.5 33.0 ~15%
USD EPS 19.3 27.9 41.1 57.3 53.4 66.1 66.3 79.7 91.6 ~21%
ROA 14.6 19.1 22.6 17.5 16.4 17.2 16.8 20.6 20.5
ROE 5.6 8.8 12.6 18.5 16.4 18.1 18.0 20.2 19.3
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*Continuing operations in early years, with SPT and other PD legacy companies excluded.

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Portfolio Performance

SALES $1206.9 EBIT $136.9m 11% 8% F '11 v F’10 F '11 v F’10 Industrial NV Medical SW Industrial NV Medical SW NA LAC EMEA AP Total > +5% From 0% to +5% < 0% Industrial: Outstanding global performance with all regions recording strong sales & EBIT growth NV: EBIT challenged by NRL costs and mix but actions taken to refocus the business Medical: Solid growth in surgical. Exam volumes impacted by Ansell pricing actions. EBIT pulled down by high NRL costs, despite higher selling prices and better mix SW: Strong growth in the US, ANZ, China, India, Brazil, & Poland, while Western Europe had flat sales but improved mix & margins

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Industrial GBU Overview

39% of Revenue and 56%	of Segment	EBIT
$M	F’10	F’11
HyFlex®	144.0	178.1	24%�	Volume up 27%
Other General Purpose	101.6	117.7	16%�
Chemical/Liquid Handling	59.5	70.9	19%�	AlphaTec® sales up 75% YoY
Single Use	*77.4	88.6	14%�
All Other	14.5	16.3	12%�
Sales	*397.0	471.6	19%�	Strong global demand + Guardian®
Segment EBIT	65.8	81.9	24%�	Mix and margin growth
EBIT/Sales	16.6%	17.4%		Volumes and mix

*** $0.5m re-class in F’10 to NV**

Strategy

• Use Guardian[®] Solution Selling to accelerate organic growth

• Reduce complexity of brand and product portfolio

• Even greater focus on customer intimacy

• Focus on accelerated growth in Emerging Markets

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New Verticals GBU Overview

14% of Revenue and 2% of Segment EBIT

14% of Revenue and 2% o	f Segment	EBIT
$M	F’10	F’11
HHG - Retail	25.9	**28.8 **	11%�	Flat Volumes,
Chemical/Liquid Handling	43.0	**49.1 **	14%�	better pricing
Single Use	*45.4	44.2	3%�
Government/First Responders	25.4	23.7	7%�	Better sales mix
Other General Purpose	11.1	**14.4 **	30%�	Construction/DIY
All Other	15.3	15.3
Sales	*166.1	175.5	6%�
Segment EBIT	10.7	**2.5 **	77%�	NRL, Hawkeye Ops, Marketing
EBIT/Sales	6.4%	1.4%

*** $0.5m re-class In F’10 from Industrial**

Strategy

• Focused growth in attractive, under developed, growth verticals

• Differentiate with improved branding, innovation and expanded NPD

• Reshape existing business/product portfolios to drive improved margins

• Look to accelerate growth with accretive bolt on acquisitions

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Medical GBU Overview

30% of Revenue and 27% of Segment EBIT

$M		F’10	F’11
Surgical:	PF	110.5	121.7	10%�EMEA, AP each up 10%
	Powdered	59.6	65.1	9%�APAC up 18%, EMEA 8%
	Synthetic	32.7	38.2	17%�NA, APAC each up 20%
Exams:	NRL	75.7	69.7	8%�Volumes down 25%, higher pricing
	Synthetic	59.1	53.5	9%�Vinyl volumes down 26%
Other		15.2	11.0	28%�
Sales		352.8	359.2	2%�(+6% growth in H2)
Segment EBIT		46.6	39.2	16%�Impact of NRL costs
EBIT/Sales		13.2%	10.9%	NRL partly offset by better sales m

NRL partly offset by better sales mix

: Strategy

• Broaden scope to perioperative safety

• Continue expansion of surgical glove range, emphasising synthetics

• Intensify solution selling capabilities; leverage Sandel acquisition

• Expand presence in emerging markets

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Sandel Acquisition

“A recognised leader in the development of staff and patient safety products in the US ”

The Business:

• Acquired 1 July 2011

• Sales approximately $10m p.a.

• Lean organisation with excellent innovation engine and good sourcing

• Product range covers six key categories (sharps safety, ergonomic safety, medication handling & specimen handling, safety kits/products)

The Rationale:

• An integrated solution in perioperative safety; differentiating Ansell

• Aligns well with legislation/regulatory directions for staff and patient safety enforcement

• Ansell can utilise sales reach to increase market penetration in the U.S.

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SAFETY DRIVEN PRODUCT LINE
Staff Safety Patient Safety
Sharps Medication Handling Specimen Handling
Ergonomic Time Out [®] Safety Kits
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EPS Outlook:

• Neutral in F’12

• Accretive in F’13

• Global expansion potential

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Sexual Wellness GBU Overview

17% of Revenue and 15% of Segment EBIT

$M F’10 F’11 Condoms: Branded 137.4 154.8 13% � Growth in SKYN[®] and Emerging markets Tenders/Private Label 16.1 26.6 65% � Brazil and India Tenders Lube/Devices/Other 16.8 19.2 14% �[Launch of a:muse][®][ (Australia)] Growth in Fragrances (India) Sales 170.3 200.6 18% � Growth Globally Segment EBIT 13.8 21.9 59% �[Mix, Pricing, and Manufacturing ] improvements EBIT/Sales 8.1% 10.9% Strategy

• Global roll out of SKYN[®]

• Increased investment in high growth market opportunities (India, China, Brazil)

• Focus on major operational improvements - productivity, capacity, complexity reduction

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Strong cash position provides options …

• Investment in the business has been increased with:

• Sales force and geographical footprint expansion

• Stepped up capex investment in F’10 and F’11

• Dividend increases have continued (up 8% in F’11)

• The new on-market buyback of up to 5m shares, recognises Ansell’s surplus cash position

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160
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140 120 100

80

60 40 20 0

Total Dividends $222m Total Buybacks $461m

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F'03 F'04 F'05 F'06 F'07 F'08 F'09 F'10 F'11
Dividends Buybacks
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• The strong commitment remains, however, to enhance shareholder value through M&A … and, as of June 30[th] 2011, Ansell has ~$250m in cash and facilities available for acquisitions and/or buybacks

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F’11 in Perspective

Positives

• Excellent Organic Sales Growth

• Industrial GBU acceleration

Negatives

• Natural Rubber Latex (NRL) and other cost increases, adversely impacted New Vertical & Medical GBU margins in particular

• Sexual Wellness GBU acceleration

• Emerging markets acceleration (23% growth)

• Fusion ERP go-live in North America in July 2011 but not as efficient as we had planned

• New global organization implemented on schedule

• SKU & Brand simplification

• First acquisition in 3 years on 1 July 2011 (Sandel Medical)

• Pricing initiatives offset over 2/3rds of raw material cost increases

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F’12 Business Outlook

• Cost pressures are reducing overall, with Natural Rubber latex (NRL) input prices running lower than expected but Nitrile (NBR) higher

• Good momentum on exiting F’11 with Industrial, Sexual Wellness GBUs leading the way. Medical and New Verticals GBUs expected to improve

• Emerging Markets growth continues

• Additional M&A opportunities emerging

• Additional investments in sales, marketing, R&D and plant productivity

• Extended time-frame for the ERP implementation

• Revitalisation of Ansell to continue, to shape it into a more agile and growth oriented organisation

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Guidance

While the company faces a more uncertain global economy than envisaged in August, Ansell’s businesses overall continue to perform as expected.

We re-affirm our F’12 EPS guidance to be within the previously communicated - US97¢ US103¢ range, up 6% - 12% from F’11’s US91.6¢

As per the original guidance, there is a Deferred Tax Asset Adjustment estimated at US7¢ - US10¢.

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