COMPUTERSHARE LIMITED. - Annual Report 2021

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MARKET ANNOUNCEMENT

Computershare Limited ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia

Date:	14 December 2021
To:	Australian Stock Exchange
Subject:	Financial Disclosure Review and Investor Conference Call

Computershare Limited (ASX:CPU) has today released a presentation to the ASX which includes new financial disclosures of historical performance.

The presentation also includes financial information previously released to ASX, presented in a new, easier to use format.

Computershare’s CEO Stuart Irving said, “This pack is the next step in our commitment to continuously improve our financial reporting. Our goals are to provide investors with greater transparency on Computershare’s performance, and to make it easier for analysts to model future returns.

We recently upgraded the presentation of our business summary at the front of the results pack. We have now turned our attention to improving the transparency and user friendliness of the more detailed financial disclosures in the appendix.

We have increased the level of disclosure and have included all previous released information in easier to interpret tables. No historical results have been restated.

The information is also available for download via the Company’s website: www.computershare.com/corporate

We appreciate the feedback we have received in the review process to produce this new pack, and we look forward to presenting the highlights of the presentation on the investor conference call tomorrow morning.

Computershare management will be holding a conference call for investors at 10.00am on Wednesday, 15[th] December 2021, Australian Eastern Standard Time. A recording of the call will be available on the Investor Relations page of Computershare’s website after the call.

Telephone conference details:

Participants must pre-register for the call using the link below

• You will be provided with the dial in number, the Passcode, and your unique access PIN following registration • Pre-Registration Link - https://kapara.rdbk.com.au/landers/812d71.html

For further information contact:

Michael Brown Investor Relations Ph +61 (0) 400 24 8080 [email protected]

This announcement was authorised to be given to the ASX by the Group CEO.

For more information, visit www.computershare.com

DECEMBER 2021 FINANCIAL DISCLOSURE REVIEW

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Making Computershare more transparent and easier to model

› Computershare is providing more transparency on its financial results to help investors gain a better understanding of historical performance and to make it easier to model future returns.
› Over the following slides, we are providing new financial disclosures for FY19, FY20 and FY21, and we are presenting previously disclosed data in a more accessible format.
› New information includes business segment P&L’s, currency breakdown of forward-looking fixed rate deposits and swaps and floating rate deposit balances and Margin Income sensitivity analysis. Information that was previously provided in a bar chart has been reformatted into a table. This includes country revenue and client balance data.
› We have maintained all previously provided information, and no historical numbers have been changed or restated from previous results.
› The level and detail of financial disclosure in this presentation will remain consistent in future updates, with the exception of the forward-looking margin income disclosure which will be updated in February.
› All the data included in this presentation is available to download in excel format from the Company’s website.
› This presentation does not include a trading update or updates to guidance (intact). 1H FY22 results are expected to be released on 9[th ] February 2022.

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Contents	What’s changed	Slide reference
Constant currencyanalysis		4-5
The below slides are translated at Actual fx rates
Key Financial Indicators	Inclusion of dividend payout ratio, Operating cash to EBITDA conversion ratio andweighted average number of shares	7-8
Computershare Profit and Loss	Management to StatutoryP&L reconciliationprovided	9
GroupsummarybyBusiness Segment		10-12
Business Segment Profit and Loss	- New disclosure - Summary of principal activities for each Business Segment - FY21 IFRS16 impact to EBITDA and Depreciation	13-18
Employee Share Plans Profit and Loss		19
UK and US Mortgage Services Profit and Loss	UKAR fixed fee contribution disclosure	20-23
Regional and Country split of Revenue	Country revenue data has been condensed into the one slide in a table format. This provides the USD and local currency breakdown. Equatex has been split out further by country and revenue contribution from Switzerland has been disclosed separately	24-25
Revenue, EBITDA and EBIT byRegion	New EBIT by Region disclosure	26
Revenue excludingacquisitions and disposals	Revenue contribution from acquisitions and disposals	27
Statutoryresults and management adjustments		28-29
Other expenditure		30
Margin Income	- Balance DATA has been transposed into table format - Breakdown of Margin Income and Yields: Exposed hedged/non-hedged - Conversion of forward looking fixed rate deposits and swaps and floating rate deposit balances into table format,currency breakdown provided (new) - Sensitivity analysis(new)	31-35
Debt FacilityMaturityProfile	Revised format	36
Balance Sheet and Cash Flow		37-38
Exchange Rates and Disclaimer		39-40
Note: New disclosures have been highlighted in bold font.

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FY21 Management results – constant currency and actual rates

USD M	At CC	At Actual fx
Total Revenue ex MI	2,157.7	2,215.8
Margin Income	104.3	107.0
Total Management Revenue	2,262.0	2,322.8
Operating expenditure	1,642.6	1,695.0
Share of net profit/(loss) of associates and jv	0.4	0.4
Management EBITDA	619.8	628.2
Depreciation	72.5	75.0
Amortisation	106.6	107.1
Depreciation & Amortisation	179.1	182.2
Management EBIT	440.7	446.1
Management EBIT ex MI	336.4	339.1
Management EBIT Margin	19%	19%
Management EBIT ex MI Margin	16%	15%
Interest Expense	53.6	54.9
Management PBT	387.1	391.2
Management Income Tax Expense	105.4	107.2
OEI	-0.2	-0.2
Management NPAT	281.4	283.7
Management EPS excluding rights issue (cps)	52.03	52.46
Management EPS (cps)	50.30	50.71

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Revenue Margin Income
At CC At Actual fx At CC At Actual fx
Issuer Services 975.1 999.3 43.8 44.2
Mortgage Services & Property Rental Services 599.5 609.0 27.8 29.3
Employee Share Plans & Voucher Services 319.8 333.0 4.0 4.2
Business Services 207.1 210.2 28.8 29.4
Communication Services & Utilities 158.8 169.7 0.0 0.0
Corporate & Technology 1.7 1.7 0.0 0.0
Computershare Corporate Trust 0.0 0.0 0.0 0.0
Total 2,262.0 2,322.8 104.3 107.0
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	EBITDA	EBITDA	EBIT	EBIT
	At CC At Actual fx		At CC At Actual fx
Issuer Services	273.9	279.3	270.9	276.2
Mortgage Services & PropertyRental Services	114.5	114.8	9.8	10.0
Employee Share Plans & Voucher Services	86.3	87.6	81.1	82.1
Business Services	51.0	52.9	49.2	51.1
Communication Services & Utilities	29.6	30.8	25.1	26.0
Corporate & Technology	64.5	62.8	4.7	0.7
Computershare Corporate Trust	0.0	0.0	0.0	0.0
Total	619.8	628.2	440.7	446.1

CC = Constant Currency. FY21 numbers have been translated to USD at FY20 average fx rates.

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Revenue, Margin Income, EBITDA and EBIT – constant currency

Revenue	1H20 2H20 1H21 2H21 424.3 470.4 459.8 515.3 343.9 321.3 294.8 304.7 148.8 155.8 139.0 180.8 120.8 122.8 114.6 92.5 83.1 85.7 78.7 80.1 3.3 0.9 0.9 0.8 0.0 0.0 0.0 0.0 1,124.3 1,156.9 1,087.8 1,174.2 1H20 2H20 1H21 2H21 44.4 34.3 22.1 21.7 32.3 20.8 15.0 12.8 6.4 5.0 2.2 1.8 32.9 23.4 15.8 13.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 116.0 83.4 55.2 49.3 1H20 2H20 1H21 2H21 129.2 131.3 126.7 147.2 82.1 59.1 53.4 61.1 31.8 33.9 23.8 62.5 41.7 46.5 29.6 21.4 14.0 16.8 10.7 18.9 37.8 22.1 32.3 32.2 0.0 0.0 0.0 0.0 336.6 309.7 276.5 343.3 1H20 2H20 1H21 2H21 127.7 130.8 125.0 145.9 46.8 23.6 5.1 4.7 29.2 32.9 21.2 59.9 41.2 46.1 28.7 20.5 12.2 15.2 8.4 16.7 8.8 -16.4 1.9 2.8 0.0 0.0 0.0 0.0 265.9 232.2 190.3 250.5	1H20 2H20 1H21 2H21 424.3 470.4 459.8 515.3 343.9 321.3 294.8 304.7 148.8 155.8 139.0 180.8 120.8 122.8 114.6 92.5 83.1 85.7 78.7 80.1 3.3 0.9 0.9 0.8 0.0 0.0 0.0 0.0 1,124.3 1,156.9 1,087.8 1,174.2 1H20 2H20 1H21 2H21 44.4 34.3 22.1 21.7 32.3 20.8 15.0 12.8 6.4 5.0 2.2 1.8 32.9 23.4 15.8 13.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 116.0 83.4 55.2 49.3 1H20 2H20 1H21 2H21 129.2 131.3 126.7 147.2 82.1 59.1 53.4 61.1 31.8 33.9 23.8 62.5 41.7 46.5 29.6 21.4 14.0 16.8 10.7 18.9 37.8 22.1 32.3 32.2 0.0 0.0 0.0 0.0 336.6 309.7 276.5 343.3 1H20 2H20 1H21 2H21 127.7 130.8 125.0 145.9 46.8 23.6 5.1 4.7 29.2 32.9 21.2 59.9 41.2 46.1 28.7 20.5 12.2 15.2 8.4 16.7 8.8 -16.4 1.9 2.8 0.0 0.0 0.0 0.0 265.9 232.2 190.3 250.5	1H20 2H20 1H21 2H21 424.3 470.4 459.8 515.3 343.9 321.3 294.8 304.7 148.8 155.8 139.0 180.8 120.8 122.8 114.6 92.5 83.1 85.7 78.7 80.1 3.3 0.9 0.9 0.8 0.0 0.0 0.0 0.0 1,124.3 1,156.9 1,087.8 1,174.2 1H20 2H20 1H21 2H21 44.4 34.3 22.1 21.7 32.3 20.8 15.0 12.8 6.4 5.0 2.2 1.8 32.9 23.4 15.8 13.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 116.0 83.4 55.2 49.3 1H20 2H20 1H21 2H21 129.2 131.3 126.7 147.2 82.1 59.1 53.4 61.1 31.8 33.9 23.8 62.5 41.7 46.5 29.6 21.4 14.0 16.8 10.7 18.9 37.8 22.1 32.3 32.2 0.0 0.0 0.0 0.0 336.6 309.7 276.5 343.3 1H20 2H20 1H21 2H21 127.7 130.8 125.0 145.9 46.8 23.6 5.1 4.7 29.2 32.9 21.2 59.9 41.2 46.1 28.7 20.5 12.2 15.2 8.4 16.7 8.8 -16.4 1.9 2.8 0.0 0.0 0.0 0.0 265.9 232.2 190.3 250.5	1H20 2H20 1H21 2H21 424.3 470.4 459.8 515.3 343.9 321.3 294.8 304.7 148.8 155.8 139.0 180.8 120.8 122.8 114.6 92.5 83.1 85.7 78.7 80.1 3.3 0.9 0.9 0.8 0.0 0.0 0.0 0.0 1,124.3 1,156.9 1,087.8 1,174.2 1H20 2H20 1H21 2H21 44.4 34.3 22.1 21.7 32.3 20.8 15.0 12.8 6.4 5.0 2.2 1.8 32.9 23.4 15.8 13.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 116.0 83.4 55.2 49.3 1H20 2H20 1H21 2H21 129.2 131.3 126.7 147.2 82.1 59.1 53.4 61.1 31.8 33.9 23.8 62.5 41.7 46.5 29.6 21.4 14.0 16.8 10.7 18.9 37.8 22.1 32.3 32.2 0.0 0.0 0.0 0.0 336.6 309.7 276.5 343.3 1H20 2H20 1H21 2H21 127.7 130.8 125.0 145.9 46.8 23.6 5.1 4.7 29.2 32.9 21.2 59.9 41.2 46.1 28.7 20.5 12.2 15.2 8.4 16.7 8.8 -16.4 1.9 2.8 0.0 0.0 0.0 0.0 265.9 232.2 190.3 250.5	FY20	FY21 975.1 599.5 319.8 207.1 158.8 1.7 0.0 2,262.0 FY21 43.8 27.8 4.0 28.8 0.0 0.0 0.0 104.3 FY21 273.9 114.5 86.3 51.0 29.6 64.5 0.0 619.8 FY21 270.9 9.8 81.1 49.2 25.1 4.7 0.0 440.7	FY21 v 20
Issuer Services	424.3	470.4	459.8	515.3	894.7	975.1	9.0%
Mortgage Services & PropertyRental Services	343.9	321.3	294.8	304.7	665.1	599.5	-9.9%
Employee Share Plans & Voucher Services	148.8	155.8	139.0	180.8	304.6	319.8	5.0%
Business Services	120.8	122.8	114.6	92.5	243.6	207.1	-15.0%
Communication Services & Utilities	83.1	85.7	78.7	80.1	168.8	158.8	-5.9%
Corporate & Technology	3.3	0.9	0.9	0.8	4.2	1.7	-59.5%
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0%
Total Revenue	1,124.3	1,156.9	1,087.8	1,174.2	2,281.2	2,262.0	-0.8%
Margin Income
					FY20		FY21 v 20
Issuer Services	44.4	34.3	22.1	21.7	78.7	43.8	-44.3%
Mortgage Services & PropertyRental Services	32.3	20.8	15.0	12.8	53.1	27.8	-47.6%
Employee Share Plans & Voucher Services	6.4	5.0	2.2	1.8	11.4	4.0	-64.9%
Business Services	32.9	23.4	15.8	13.0	56.2	28.8	-48.8%
Communication Services & Utilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0%
Corporate & Technology	0.0	-0.0	0.0	0.0	0.0	0.0	0.0%
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0%
Total Margin Income	116.0	83.4	55.2	49.3	199.4	104.3	-47.7%
EBITDA
					FY20		FY21 v 20
Issuer Services	129.2	131.3	126.7	147.2	260.5	273.9	5.1%
Mortgage Services & PropertyRental Services	82.1	59.1	53.4	61.1	141.2	114.5	-18.9%
Employee Share Plans & Voucher Services	31.8	33.9	23.8	62.5	65.7	86.3	31.4%
Business Services	41.7	46.5	29.6	21.4	88.2	51.0	-42.2%
Communication Services & Utilities	14.0	16.8	10.7	18.9	30.8	29.6	-3.9%
Corporate & Technology	37.8	22.1	32.3	32.2	60.0	64.5	7.5%
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0%
Total EBITDA	336.6	309.7	276.5	343.3	646.4	619.8	-4.1%
EBIT
					FY20		FY21 v 20
Issuer Services	127.7	130.8	125.0	145.9	258.5	270.9	4.8%
Mortgage Services & PropertyRental Services	46.8	23.6	5.1	4.7	70.4	9.8	-86.1%
Employee Share Plans & Voucher Services	29.2	32.9	21.2	59.9	62.1	81.1	30.6%
Business Services	41.2	46.1	28.7	20.5	87.3	49.2	-43.6%
Communication Services & Utilities	12.2	15.2	8.4	16.7	27.4	25.1	-8.4%
Corporate & Technology	8.8	-16.4	1.9	2.8	-7.7	4.7	161.0%
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0%
Total EBIT	265.9	232.2	190.3	250.5	498.0	440.7	-11.5%

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CEU ANZ
4% 8%
Asia
UCIA
7%
20%
Revenue
Canada $2,262.0m
8%
USA
53%
CEUANZ
UCIA 3%3% Asia
14% 11%
Canada EBITDA
13%
$619.8m
USA
56%
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From this point, numbers have been translated at actual FX rates

High quality core industrial drives consistent operating performance

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4,000 22.9% 23.0% 24.7% 25.7% 24.4% 22.8% 24.1% 25.0% 26%
21.8%
3,500 19.2% 21%
3,000
2,301 2,357 2,281 2,323 16%
2,500
2,114
2,025 2,023 1,976 1,974
2,000 1,819 529 542 509 560 11%
465
567 506 454 474
1,500 546
6%
1,000
1,273 1,458 1,517 1,522 1,500 1,649 1,772 1,815 1,772 1,762 1%
500
0 -4%
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21
Recurring Non recurring EBIT Margin
USD M
Total Revenue EBIT Margin %
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Key Financial Indicators

	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21	1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21
Total Management Revenue Operating expenditure	1,003.2 1,110.9 1,127.8 1,173.1 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 762.3 811.6 835.2 843.4 795.4 885.3 787.8 847.3 825.1 869.9
Management EBITDA	241.3	299.5	293.4	329.3	331.4	343.4	336.6	309.7	277.7	350.5
Management EBIT	214.0	267.6	260.8	293.8	291.3	298.8	265.9	232.2	190.8	255.3
Management EBIT ex Margin Income	147.4	198.0	181.2	193.9	166.1	177.5	149.9	148.8	135.2	203.8
EBIT Margin % EBIT ex MI Margin % Management Profit Before Tax	21.3% 24.1% 23.1% 25.0% 25.8% 24.3% 23.6% 20.1% 17.3% 20.9% 15.7% 19.0% 17.3% 18.1% 16.6% 16.0% 14.9% 13.9% 12.9% 17.4% 187.6 239.6 232.2 260.3 258.8 264.6 229.7 202.0 163.1 228.0
Management NPAT	140.6	156.7	166.8	177.9	189.9	191.5	157.0	146.9	117.9	165.9
Management EPS (US cps)	25.74	28.68	30.62	32.76	34.97	35.27	28.96	26.61	21.79	28.92
Management EPS (AU cps)	34.13	38.22	39.38	42.31	48.03	49.84	42.35	40.39	30.44	37.83
Statutory NPAT	150.2	116.2	171.2	128.9	259.4	156.4	124.7	108.0	72.6	116.4
Statutory EPS (US cps)	27.48	21.28	31.43	23.74	47.77	28.80	23.00	19.55	13.41	20.36
Revenue split - Recurring Revenue split - Non Recurring	78% 77% 74% 76% 76% 78% 78% 77% 76% 76% 22% 23% 26% 25% 24% 22% 22% 23% 24% 24%
Weighted average number of shares1	546,335,793 546,330,942 544,778,652 543,874,751 542,955,868 542,955,868 541,956,213 546,780,636 540,879,593 559,519,258
Net operating cash flows excluding SLS advances Operating cash to EBITDA conversion ratio Days Sales Outstanding Dividend(AU cents) Franking(%) Dividend payout ratio ROIC Net debt to EBITDA2	173.3 247.0 199.3 253.7 176.6 235.0 250.3 344.1 124.1 251.3 0.7 0.8 0.7 0.8 0.5 0.7 0.7 1.1 0.4 0.7 56 60 57 59 65 60 61 58 57 53 17 19 19 21 21 23 23 23 23 23 30% 0% 0% 100% 30% 30% 30% 30% 100% 60% 50% 50% 48% 50% 44% 47% 54% 58% 76% 59% 14.7% 15.5% 16.2% 18.2% 14.9% 14.8% 13.5% 12.2% 10.1% 10.7% 1.91 1.60 1.58 1.33 1.88 1.84 1.97 1.93 2.24 1.07

1 Weighted average number of ordinary shares used as denominator in calculating basic earnings per share as at December (1H) or June (2H).

2 Ratio excluding non-recourse SLS Advance debt and lease liabilities (the latter effective from 1H20).

Notable acquisitions: Equatex Group Holding AG (9th Nov 18), LenderLive Financial Services, LLC (31st Dec 18), Corporate Creations (28th February 20), Verbatim LLC (1st July 20). Notable divestments: INVeSHARE (16th Sep 16), Karvy – 50% interest (17th Nov 18)

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Computershare Profit & Loss

USD M (at actual rates)	1H19	2H19	1H20	2H20	1H21	2H21	FY19	FY20	FY21
Total Revenue ex MI	1,002.6	1,107.5	1,008.3	1,073.5	1,046.9	1,168.9	2,110.1	2,081.8	2,215.8
Margin Income	125.2	121.2	116.0	83.4	55.5	51.5	246.5	199.4	107.0
Total Management Revenue	1,127.8	1,228.7	1,124.3	1,156.9	1,102.5	1,220.3	2,356.5	2,281.2	2,322.8
Operating expenditure	795.4	885.3	787.8	847.3	825.1	869.9	1,680.7	1,635.1	1,695.0
Share of net profit/(loss) of associates and jv	-1.0	0.0	0.2	0.1	0.4	0.0	-1.0	0.2	0.4
Management EBITDA	331.4	343.4	336.6	309.7	277.7	350.5	674.9	646.4	628.2
Depreciation	18.9	18.6	38.0	39.5	38.3	36.8	37.5	77.5	75.0
Amortisation	21.2	26.0	32.8	38.1	48.7	58.4	47.3	70.8	107.1
Depreciation & Amortisation	40.1	44.7	70.8	77.6	87.0	95.2	84.8	148.3	182.2
Management EBIT	291.3	298.8	265.9	232.2	190.8	255.3	590.1	498.0	446.1
Management EBIT ex MI	166.1	177.5	149.9	148.8	135.2	203.8	343.6	298.7	339.1
Management EBIT Margin	25.8%	24.3%	23.6%	20.1%	17.3%	20.9%	25.0%	21.8%	19.2%
Management EBIT ex MI Margin	16.6%	16.0%	14.9%	13.9%	12.9%	17.4%	16.3%	14.3%	15.3%
Interest Expense	32.5	34.2	36.2	30.1	27.6	27.2	66.7	66.3	54.9
Management PBT	258.8	264.6	229.7	202.0	163.1	228.0	523.4	431.7	391.2
Management Income Tax Expense	65.8	73.0	72.6	55.2	45.3	61.9	138.8	127.8	107.2
OEI	-3.1	-0.1	-0.1	0.0	0.1	-0.3	-3.2	-0.1	-0.2
Management NPAT	189.9	191.5	157.0	146.9	117.9	165.9	381.4	303.8	283.7
Management Adjustments (after tax)1
Amortisation	-18.6	-21.5	-20.8	-21.8	-21.4	-21.3	-40.1	-42.6	-42.7
Acquisitions and Disposals	92.2	-5.8	-5.9	0.0	-4.7	-19.8	86.4	-5.9	-24.5
Other	-4.1	-7.8	-5.5	-17.2	-19.2	-8.3	-11.9	-22.7	-27.5
Total Management Adjustments	69.5	-35.1	-32.3	-39.0	-45.3	-49.4	34.4	-71.2	-94.8
Statutory NPAT	259.4	156.4	124.7	108.0	72.6	116.4	415.7	232.7	189.0
Management EPS (cps)	34.97	35.27	28.96	26.61	21.79	28.92	70.24	55.57	50.71
Statutory EPS (cps)	47.77	28.80	23.00	19.55	13.41	20.36	76.57	42.55	33.77
Mgt ETR	25.4%	27.6%	31.6%	27.3%	27.8%	27.1%	26.5%	29.6%	27.4%
Stat ETR	20.2%	21.5%	32.8%	22.1%	30.5%	29.6%	20.7%	28.2%	30.0%

1 Refer to slide 29 for detail on management adjustments.

==> picture [90 x 18] intentionally omitted <==

Summary – Revenue and Margin Income

USD M (at actual rates)

Revenue	1H19 2H19 1H20 2H20 1H21 2H21 471.8 480.0 424.3 470.4 465.0 534.3 302.4 343.7 343.9 321.3 297.8 311.2 126.6 181.1 148.8 155.8 143.0 190.0 134.1 132.6 120.8 122.8 114.4 95.7 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 0.9 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1H19 2H19 1H20 2H20 1H21 2H21 61.1 51.3 44.4 34.3 22.1 22.1 26.4 31.8 32.3 20.8 15.5 13.8 7.1 8.8 6.4 5.0 2.3 1.9 30.7 29.4 32.9 23.4 15.7 13.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125.2 121.2 116.0 83.4 55.5 51.5 1H19 2H19 1H20 2H20 1H21 2H21 410.7 428.7 380.0 436.1 442.9 512.2 276.0 311.9 311.5 300.5 282.2 297.4 119.5 172.4 142.4 150.8 140.7 188.1 103.4 103.2 88.0 99.4 98.7 82.0 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 1.0 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,002.6 1,107.5 1,008.3 1,073.5 1,046.9 1,168.9	1H19 2H19 1H20 2H20 1H21 2H21 471.8 480.0 424.3 470.4 465.0 534.3 302.4 343.7 343.9 321.3 297.8 311.2 126.6 181.1 148.8 155.8 143.0 190.0 134.1 132.6 120.8 122.8 114.4 95.7 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 0.9 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1H19 2H19 1H20 2H20 1H21 2H21 61.1 51.3 44.4 34.3 22.1 22.1 26.4 31.8 32.3 20.8 15.5 13.8 7.1 8.8 6.4 5.0 2.3 1.9 30.7 29.4 32.9 23.4 15.7 13.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125.2 121.2 116.0 83.4 55.5 51.5 1H19 2H19 1H20 2H20 1H21 2H21 410.7 428.7 380.0 436.1 442.9 512.2 276.0 311.9 311.5 300.5 282.2 297.4 119.5 172.4 142.4 150.8 140.7 188.1 103.4 103.2 88.0 99.4 98.7 82.0 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 1.0 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,002.6 1,107.5 1,008.3 1,073.5 1,046.9 1,168.9	1H19 2H19 1H20 2H20 1H21 2H21 471.8 480.0 424.3 470.4 465.0 534.3 302.4 343.7 343.9 321.3 297.8 311.2 126.6 181.1 148.8 155.8 143.0 190.0 134.1 132.6 120.8 122.8 114.4 95.7 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 0.9 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1H19 2H19 1H20 2H20 1H21 2H21 61.1 51.3 44.4 34.3 22.1 22.1 26.4 31.8 32.3 20.8 15.5 13.8 7.1 8.8 6.4 5.0 2.3 1.9 30.7 29.4 32.9 23.4 15.7 13.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125.2 121.2 116.0 83.4 55.5 51.5 1H19 2H19 1H20 2H20 1H21 2H21 410.7 428.7 380.0 436.1 442.9 512.2 276.0 311.9 311.5 300.5 282.2 297.4 119.5 172.4 142.4 150.8 140.7 188.1 103.4 103.2 88.0 99.4 98.7 82.0 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 1.0 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,002.6 1,107.5 1,008.3 1,073.5 1,046.9 1,168.9	1H19 2H19 1H20 2H20 1H21 2H21 471.8 480.0 424.3 470.4 465.0 534.3 302.4 343.7 343.9 321.3 297.8 311.2 126.6 181.1 148.8 155.8 143.0 190.0 134.1 132.6 120.8 122.8 114.4 95.7 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 0.9 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1H19 2H19 1H20 2H20 1H21 2H21 61.1 51.3 44.4 34.3 22.1 22.1 26.4 31.8 32.3 20.8 15.5 13.8 7.1 8.8 6.4 5.0 2.3 1.9 30.7 29.4 32.9 23.4 15.7 13.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125.2 121.2 116.0 83.4 55.5 51.5 1H19 2H19 1H20 2H20 1H21 2H21 410.7 428.7 380.0 436.1 442.9 512.2 276.0 311.9 311.5 300.5 282.2 297.4 119.5 172.4 142.4 150.8 140.7 188.1 103.4 103.2 88.0 99.4 98.7 82.0 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 1.0 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,002.6 1,107.5 1,008.3 1,073.5 1,046.9 1,168.9	1H19 2H19 1H20 2H20 1H21 2H21 471.8 480.0 424.3 470.4 465.0 534.3 302.4 343.7 343.9 321.3 297.8 311.2 126.6 181.1 148.8 155.8 143.0 190.0 134.1 132.6 120.8 122.8 114.4 95.7 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 0.9 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1H19 2H19 1H20 2H20 1H21 2H21 61.1 51.3 44.4 34.3 22.1 22.1 26.4 31.8 32.3 20.8 15.5 13.8 7.1 8.8 6.4 5.0 2.3 1.9 30.7 29.4 32.9 23.4 15.7 13.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125.2 121.2 116.0 83.4 55.5 51.5 1H19 2H19 1H20 2H20 1H21 2H21 410.7 428.7 380.0 436.1 442.9 512.2 276.0 311.9 311.5 300.5 282.2 297.4 119.5 172.4 142.4 150.8 140.7 188.1 103.4 103.2 88.0 99.4 98.7 82.0 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 1.0 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,002.6 1,107.5 1,008.3 1,073.5 1,046.9 1,168.9	1H19 2H19 1H20 2H20 1H21 2H21 471.8 480.0 424.3 470.4 465.0 534.3 302.4 343.7 343.9 321.3 297.8 311.2 126.6 181.1 148.8 155.8 143.0 190.0 134.1 132.6 120.8 122.8 114.4 95.7 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 0.9 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1H19 2H19 1H20 2H20 1H21 2H21 61.1 51.3 44.4 34.3 22.1 22.1 26.4 31.8 32.3 20.8 15.5 13.8 7.1 8.8 6.4 5.0 2.3 1.9 30.7 29.4 32.9 23.4 15.7 13.7 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 125.2 121.2 116.0 83.4 55.5 51.5 1H19 2H19 1H20 2H20 1H21 2H21 410.7 428.7 380.0 436.1 442.9 512.2 276.0 311.9 311.5 300.5 282.2 297.4 119.5 172.4 142.4 150.8 140.7 188.1 103.4 103.2 88.0 99.4 98.7 82.0 87.6 90.2 83.1 85.7 81.4 88.3 5.4 1.0 3.3 1.0 0.9 0.7 0.0 0.0 0.0 0.0 0.0 0.0 1,002.6 1,107.5 1,008.3 1,073.5 1,046.9 1,168.9	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
Issuer Services	471.8	480.0	424.3	470.4	465.0	534.3	951.9	894.7	999.3
Mortgage Services & Property Rental Services	302.4	343.7	343.9	321.3	297.8	311.2	646.1	665.1	609.0
Employee Share Plans & Voucher Services	126.6	181.1	148.8	155.8	143.0	190.0	307.7	304.6	333.0
Business Services	134.1	132.6	120.8	122.8	114.4	95.7	266.7	243.6	210.2
Communication Services & Utilities	87.6	90.2	83.1	85.7	81.4	88.3	177.8	168.8	169.7
Corporate & Technology	5.4	1.0	3.3	0.9	0.9	0.7	6.4	4.2	1.7
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Revenue	1,127.8	1,228.7	1,124.3	1,156.9	1,102.5	1,220.3	2,356.5	2,281.2	2,322.8
Margin Income
							FY19 FY20 FY21
Issuer Services	61.1	51.3	44.4	34.3	22.1	22.1	112.4	78.7	44.2
Mortgage Services & Property Rental Services	26.4	31.8	32.3	20.8	15.5	13.8	58.2	53.1	29.3
Employee Share Plans & Voucher Services	7.1	8.8	6.4	5.0	2.3	1.9	15.9	11.4	4.2
Business Services	30.7	29.4	32.9	23.4	15.7	13.7	60.0	56.2	29.4
Communication Services & Utilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Corporate & Technology	0.0	0.0	0.0	-0.0	0.0	0.0	0.0	0.0	0.0
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Margin Income	125.2	121.2	116.0	83.4	55.5	51.5	246.5	199.4	107.0
Revenue excluding Margin Income
							FY19 FY20 FY21
Issuer Services	410.7	428.7	380.0	436.1	442.9	512.2	839.5	816.1	955.1
Mortgage Services & Property Rental Services	276.0	311.9	311.5	300.5	282.2	297.4	587.9	612.0	579.7
Employee Share Plans & Voucher Services	119.5	172.4	142.4	150.8	140.7	188.1	291.9	293.2	328.9
Business Services	103.4	103.2	88.0	99.4	98.7	82.0	206.7	187.4	180.8
Communication Services & Utilities	87.6	90.2	83.1	85.7	81.4	88.3	177.8	168.8	169.7
Corporate & Technology	5.4	1.0	3.3	1.0	0.9	0.7	6.4	4.2	1.7
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Revenue excluding Margin Income	1,002.6	1,107.5	1,008.3	1,073.5	1,046.9	1,168.9	2,110.1	2,081.8	2,215.8

==> picture [90 x 18] intentionally omitted <==

Summary – EBITDA

USD M (at actual rates)

EBITDA	1H19 2H19 1H20 2H20 1H21 2H21 161.0 152.6 129.2 131.3 127.9 151.4 66.8 83.4 82.1 59.1 53.6 61.2 29.0 51.3 31.8 33.9 23.9 63.7 49.5 43.1 41.7 46.5 29.5 23.4 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.1 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 331.4 343.4 336.6 309.7 277.7 350.5 1H19 2H19 1H20 2H20 1H21 2H21 99.9 101.3 84.8 97.0 105.8 129.3 40.4 51.6 49.8 38.3 38.1 47.4 21.9 42.5 25.4 28.9 21.6 61.8 18.8 13.7 8.8 23.1 13.8 9.7 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.2 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 206.2 222.2 220.6 226.3 222.2 299.0 1H19 2H19 1H20 2H20 1H21 2H21 24.3% 23.6% 22.3% 22.2% 23.9% 25.2% 14.7% 16.5% 16.0% 12.8% 13.5% 15.9% 18.3% 24.7% 17.8% 19.2% 15.4% 32.9% 18.2% 13.3% 10.0% 23.3% 14.0% 11.8% 15.9% 26.6% 16.8% 19.6% 13.4% 22.5% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 20.6% 20.1% 21.9% 21.1% 21.2% 25.6%	1H19 2H19 1H20 2H20 1H21 2H21 161.0 152.6 129.2 131.3 127.9 151.4 66.8 83.4 82.1 59.1 53.6 61.2 29.0 51.3 31.8 33.9 23.9 63.7 49.5 43.1 41.7 46.5 29.5 23.4 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.1 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 331.4 343.4 336.6 309.7 277.7 350.5 1H19 2H19 1H20 2H20 1H21 2H21 99.9 101.3 84.8 97.0 105.8 129.3 40.4 51.6 49.8 38.3 38.1 47.4 21.9 42.5 25.4 28.9 21.6 61.8 18.8 13.7 8.8 23.1 13.8 9.7 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.2 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 206.2 222.2 220.6 226.3 222.2 299.0 1H19 2H19 1H20 2H20 1H21 2H21 24.3% 23.6% 22.3% 22.2% 23.9% 25.2% 14.7% 16.5% 16.0% 12.8% 13.5% 15.9% 18.3% 24.7% 17.8% 19.2% 15.4% 32.9% 18.2% 13.3% 10.0% 23.3% 14.0% 11.8% 15.9% 26.6% 16.8% 19.6% 13.4% 22.5% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 20.6% 20.1% 21.9% 21.1% 21.2% 25.6%	1H19 2H19 1H20 2H20 1H21 2H21 161.0 152.6 129.2 131.3 127.9 151.4 66.8 83.4 82.1 59.1 53.6 61.2 29.0 51.3 31.8 33.9 23.9 63.7 49.5 43.1 41.7 46.5 29.5 23.4 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.1 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 331.4 343.4 336.6 309.7 277.7 350.5 1H19 2H19 1H20 2H20 1H21 2H21 99.9 101.3 84.8 97.0 105.8 129.3 40.4 51.6 49.8 38.3 38.1 47.4 21.9 42.5 25.4 28.9 21.6 61.8 18.8 13.7 8.8 23.1 13.8 9.7 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.2 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 206.2 222.2 220.6 226.3 222.2 299.0 1H19 2H19 1H20 2H20 1H21 2H21 24.3% 23.6% 22.3% 22.2% 23.9% 25.2% 14.7% 16.5% 16.0% 12.8% 13.5% 15.9% 18.3% 24.7% 17.8% 19.2% 15.4% 32.9% 18.2% 13.3% 10.0% 23.3% 14.0% 11.8% 15.9% 26.6% 16.8% 19.6% 13.4% 22.5% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 20.6% 20.1% 21.9% 21.1% 21.2% 25.6%	1H19 2H19 1H20 2H20 1H21 2H21 161.0 152.6 129.2 131.3 127.9 151.4 66.8 83.4 82.1 59.1 53.6 61.2 29.0 51.3 31.8 33.9 23.9 63.7 49.5 43.1 41.7 46.5 29.5 23.4 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.1 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 331.4 343.4 336.6 309.7 277.7 350.5 1H19 2H19 1H20 2H20 1H21 2H21 99.9 101.3 84.8 97.0 105.8 129.3 40.4 51.6 49.8 38.3 38.1 47.4 21.9 42.5 25.4 28.9 21.6 61.8 18.8 13.7 8.8 23.1 13.8 9.7 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.2 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 206.2 222.2 220.6 226.3 222.2 299.0 1H19 2H19 1H20 2H20 1H21 2H21 24.3% 23.6% 22.3% 22.2% 23.9% 25.2% 14.7% 16.5% 16.0% 12.8% 13.5% 15.9% 18.3% 24.7% 17.8% 19.2% 15.4% 32.9% 18.2% 13.3% 10.0% 23.3% 14.0% 11.8% 15.9% 26.6% 16.8% 19.6% 13.4% 22.5% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 20.6% 20.1% 21.9% 21.1% 21.2% 25.6%	1H19 2H19 1H20 2H20 1H21 2H21 161.0 152.6 129.2 131.3 127.9 151.4 66.8 83.4 82.1 59.1 53.6 61.2 29.0 51.3 31.8 33.9 23.9 63.7 49.5 43.1 41.7 46.5 29.5 23.4 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.1 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 331.4 343.4 336.6 309.7 277.7 350.5 1H19 2H19 1H20 2H20 1H21 2H21 99.9 101.3 84.8 97.0 105.8 129.3 40.4 51.6 49.8 38.3 38.1 47.4 21.9 42.5 25.4 28.9 21.6 61.8 18.8 13.7 8.8 23.1 13.8 9.7 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.2 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 206.2 222.2 220.6 226.3 222.2 299.0 1H19 2H19 1H20 2H20 1H21 2H21 24.3% 23.6% 22.3% 22.2% 23.9% 25.2% 14.7% 16.5% 16.0% 12.8% 13.5% 15.9% 18.3% 24.7% 17.8% 19.2% 15.4% 32.9% 18.2% 13.3% 10.0% 23.3% 14.0% 11.8% 15.9% 26.6% 16.8% 19.6% 13.4% 22.5% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 20.6% 20.1% 21.9% 21.1% 21.2% 25.6%	1H19 2H19 1H20 2H20 1H21 2H21 161.0 152.6 129.2 131.3 127.9 151.4 66.8 83.4 82.1 59.1 53.6 61.2 29.0 51.3 31.8 33.9 23.9 63.7 49.5 43.1 41.7 46.5 29.5 23.4 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.1 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 331.4 343.4 336.6 309.7 277.7 350.5 1H19 2H19 1H20 2H20 1H21 2H21 99.9 101.3 84.8 97.0 105.8 129.3 40.4 51.6 49.8 38.3 38.1 47.4 21.9 42.5 25.4 28.9 21.6 61.8 18.8 13.7 8.8 23.1 13.8 9.7 13.9 24.0 14.0 16.8 10.9 19.9 11.2 -11.0 37.8 22.2 31.9 30.9 0.0 0.0 0.0 0.0 0.0 0.0 206.2 222.2 220.6 226.3 222.2 299.0 1H19 2H19 1H20 2H20 1H21 2H21 24.3% 23.6% 22.3% 22.2% 23.9% 25.2% 14.7% 16.5% 16.0% 12.8% 13.5% 15.9% 18.3% 24.7% 17.8% 19.2% 15.4% 32.9% 18.2% 13.3% 10.0% 23.3% 14.0% 11.8% 15.9% 26.6% 16.8% 19.6% 13.4% 22.5% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 20.6% 20.1% 21.9% 21.1% 21.2% 25.6%	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
Issuer Services	161.0	152.6	129.2	131.3	127.9	151.4	313.6	260.5	279.3
Mortgage Services & Property Rental Services	66.8	83.4	82.1	59.1	53.6	61.2	150.2	141.2	114.8
Employee Share Plans & Voucher Services	29.0	51.3	31.8	33.9	23.9	63.7	80.3	65.7	87.6
Business Services	49.5	43.1	41.7	46.5	29.5	23.4	92.6	88.2	52.9
Communication Services & Utilities	13.9	24.0	14.0	16.8	10.9	19.9	37.9	30.8	30.8
Corporate & Technology	11.2	-11.0	37.8	22.1	31.9	30.9	0.2	60.0	62.8
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total EBITDA	331.4	343.4	336.6	309.7	277.7	350.5	674.9	646.4	628.2
EBITDA excluding Margin Income
							FY19 FY20 FY21
Issuer Services	99.9	101.3	84.8	97.0	105.8	129.3	201.2	181.8	235.1
Mortgage Services & Property Rental Services	40.4	51.6	49.8	38.3	38.1	47.4	92.0	88.1	85.5
Employee Share Plans & Voucher Services	21.9	42.5	25.4	28.9	21.6	61.8	64.4	54.3	83.4
Business Services	18.8	13.7	8.8	23.1	13.8	9.7	32.6	32.0	23.5
Communication Services & Utilities	13.9	24.0	14.0	16.8	10.9	19.9	37.9	30.8	30.8
Corporate & Technology	11.2	-11.0	37.8	22.2	31.9	30.9	0.2	60.0	62.8
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total EBITDA excluding Margin Income	206.2	222.2	220.6	226.3	222.2	299.0	428.4	447.0	521.2
EBITDA excluding Margin Income Margin
							FY19 FY20 FY21
Issuer Services	24.3%	23.6%	22.3%	22.2%	23.9%	25.2%	24.0%	22.3%	24.6%
Mortgage Services & Property Rental Services	14.7%	16.5%	16.0%	12.8%	13.5%	15.9%	15.7%	14.4%	14.8%
Employee Share Plans & Voucher Services	18.3%	24.7%	17.8%	19.2%	15.4%	32.9%	22.1%	18.5%	25.4%
Business Services	18.2%	13.3%	10.0%	23.3%	14.0%	11.8%	15.8%	17.1%	13.0%
Communication Services & Utilities	15.9%	26.6%	16.8%	19.6%	13.4%	22.5%	21.3%	18.2%	18.2%
Corporate & Technology	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total EBITDA excluding Margin Income Margin	20.6%	20.1%	21.9%	21.1%	21.2%	25.6%	20.3%	21.5%	23.5%

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Summary – EBIT

USD M (at actual rates)

EBIT	1H19 2H19 1H20 2H20 1H21 2H21 158.6 151.9 127.7 130.8 126.2 150.0 43.4 59.1 46.8 23.6 5.3 4.7 28.7 49.0 29.2 32.9 21.2 60.9 48.5 43.3 41.2 46.1 28.6 22.5 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.8 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 291.3 298.8 265.9 232.2 190.8 255.3 1H19 2H19 1H20 2H20 1H21 2H21 97.6 100.6 83.3 96.5 104.1 127.9 17.1 27.3 14.5 2.8 -10.2 -9.1 21.6 40.3 22.8 27.9 18.9 59.0 17.8 13.9 8.3 22.7 12.9 8.8 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.7 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 166.1 177.5 149.9 148.8 135.2 203.8 1H19 2H19 1H20 2H20 1H21 2H21 23.8% 23.5% 21.9% 22.1% 23.5% 25.0% 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 18.1% 23.4% 16.0% 18.5% 13.5% 31.4% 17.2% 13.5% 9.5% 22.9% 13.1% 10.7% 14.1% 24.7% 14.7% 17.7% 10.6% 19.7% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 16.6% 16.0% 14.9% 13.9% 12.9% 17.4%	1H19 2H19 1H20 2H20 1H21 2H21 158.6 151.9 127.7 130.8 126.2 150.0 43.4 59.1 46.8 23.6 5.3 4.7 28.7 49.0 29.2 32.9 21.2 60.9 48.5 43.3 41.2 46.1 28.6 22.5 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.8 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 291.3 298.8 265.9 232.2 190.8 255.3 1H19 2H19 1H20 2H20 1H21 2H21 97.6 100.6 83.3 96.5 104.1 127.9 17.1 27.3 14.5 2.8 -10.2 -9.1 21.6 40.3 22.8 27.9 18.9 59.0 17.8 13.9 8.3 22.7 12.9 8.8 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.7 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 166.1 177.5 149.9 148.8 135.2 203.8 1H19 2H19 1H20 2H20 1H21 2H21 23.8% 23.5% 21.9% 22.1% 23.5% 25.0% 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 18.1% 23.4% 16.0% 18.5% 13.5% 31.4% 17.2% 13.5% 9.5% 22.9% 13.1% 10.7% 14.1% 24.7% 14.7% 17.7% 10.6% 19.7% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 16.6% 16.0% 14.9% 13.9% 12.9% 17.4%	1H19 2H19 1H20 2H20 1H21 2H21 158.6 151.9 127.7 130.8 126.2 150.0 43.4 59.1 46.8 23.6 5.3 4.7 28.7 49.0 29.2 32.9 21.2 60.9 48.5 43.3 41.2 46.1 28.6 22.5 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.8 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 291.3 298.8 265.9 232.2 190.8 255.3 1H19 2H19 1H20 2H20 1H21 2H21 97.6 100.6 83.3 96.5 104.1 127.9 17.1 27.3 14.5 2.8 -10.2 -9.1 21.6 40.3 22.8 27.9 18.9 59.0 17.8 13.9 8.3 22.7 12.9 8.8 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.7 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 166.1 177.5 149.9 148.8 135.2 203.8 1H19 2H19 1H20 2H20 1H21 2H21 23.8% 23.5% 21.9% 22.1% 23.5% 25.0% 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 18.1% 23.4% 16.0% 18.5% 13.5% 31.4% 17.2% 13.5% 9.5% 22.9% 13.1% 10.7% 14.1% 24.7% 14.7% 17.7% 10.6% 19.7% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 16.6% 16.0% 14.9% 13.9% 12.9% 17.4%	1H19 2H19 1H20 2H20 1H21 2H21 158.6 151.9 127.7 130.8 126.2 150.0 43.4 59.1 46.8 23.6 5.3 4.7 28.7 49.0 29.2 32.9 21.2 60.9 48.5 43.3 41.2 46.1 28.6 22.5 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.8 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 291.3 298.8 265.9 232.2 190.8 255.3 1H19 2H19 1H20 2H20 1H21 2H21 97.6 100.6 83.3 96.5 104.1 127.9 17.1 27.3 14.5 2.8 -10.2 -9.1 21.6 40.3 22.8 27.9 18.9 59.0 17.8 13.9 8.3 22.7 12.9 8.8 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.7 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 166.1 177.5 149.9 148.8 135.2 203.8 1H19 2H19 1H20 2H20 1H21 2H21 23.8% 23.5% 21.9% 22.1% 23.5% 25.0% 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 18.1% 23.4% 16.0% 18.5% 13.5% 31.4% 17.2% 13.5% 9.5% 22.9% 13.1% 10.7% 14.1% 24.7% 14.7% 17.7% 10.6% 19.7% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 16.6% 16.0% 14.9% 13.9% 12.9% 17.4%	1H19 2H19 1H20 2H20 1H21 2H21 158.6 151.9 127.7 130.8 126.2 150.0 43.4 59.1 46.8 23.6 5.3 4.7 28.7 49.0 29.2 32.9 21.2 60.9 48.5 43.3 41.2 46.1 28.6 22.5 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.8 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 291.3 298.8 265.9 232.2 190.8 255.3 1H19 2H19 1H20 2H20 1H21 2H21 97.6 100.6 83.3 96.5 104.1 127.9 17.1 27.3 14.5 2.8 -10.2 -9.1 21.6 40.3 22.8 27.9 18.9 59.0 17.8 13.9 8.3 22.7 12.9 8.8 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.7 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 166.1 177.5 149.9 148.8 135.2 203.8 1H19 2H19 1H20 2H20 1H21 2H21 23.8% 23.5% 21.9% 22.1% 23.5% 25.0% 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 18.1% 23.4% 16.0% 18.5% 13.5% 31.4% 17.2% 13.5% 9.5% 22.9% 13.1% 10.7% 14.1% 24.7% 14.7% 17.7% 10.6% 19.7% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 16.6% 16.0% 14.9% 13.9% 12.9% 17.4%	1H19 2H19 1H20 2H20 1H21 2H21 158.6 151.9 127.7 130.8 126.2 150.0 43.4 59.1 46.8 23.6 5.3 4.7 28.7 49.0 29.2 32.9 21.2 60.9 48.5 43.3 41.2 46.1 28.6 22.5 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.8 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 291.3 298.8 265.9 232.2 190.8 255.3 1H19 2H19 1H20 2H20 1H21 2H21 97.6 100.6 83.3 96.5 104.1 127.9 17.1 27.3 14.5 2.8 -10.2 -9.1 21.6 40.3 22.8 27.9 18.9 59.0 17.8 13.9 8.3 22.7 12.9 8.8 12.3 22.3 12.2 15.2 8.6 17.4 -0.3 -26.9 8.7 -16.4 0.9 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 166.1 177.5 149.9 148.8 135.2 203.8 1H19 2H19 1H20 2H20 1H21 2H21 23.8% 23.5% 21.9% 22.1% 23.5% 25.0% 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 18.1% 23.4% 16.0% 18.5% 13.5% 31.4% 17.2% 13.5% 9.5% 22.9% 13.1% 10.7% 14.1% 24.7% 14.7% 17.7% 10.6% 19.7% n/a n/a n/a n/a n/a n/a 0.0 0.0 0.0 0.0 0.0 0.0 16.6% 16.0% 14.9% 13.9% 12.9% 17.4%	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
Issuer Services	158.6	151.9	127.7	130.8	126.2	150.0	310.6	258.5	276.2
Mortgage Services & Property Rental Services	43.4	59.1	46.8	23.6	5.3	4.7	102.5	70.4	10.0
Employee Share Plans & Voucher Services	28.7	49.0	29.2	32.9	21.2	60.9	77.8	62.1	82.1
Business Services	48.5	43.3	41.2	46.1	28.6	22.5	91.8	87.3	51.1
Communication Services & Utilities	12.3	22.3	12.2	15.2	8.6	17.4	34.6	27.4	26.0
Corporate & Technology	-0.3	-26.9	8.8	-16.4	0.9	-0.2	-27.2	-7.7	0.7
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total EBIT	291.3	298.8	265.9	232.2	190.8	255.3	590.1	498.0	446.1
EBIT excluding Margin Income
							FY19 FY20 FY21
Issuer Services	97.6	100.6	83.3	96.5	104.1	127.9	198.2	179.8	232.0
Mortgage Services & Property Rental Services	17.1	27.3	14.5	2.8	-10.2	-9.1	44.4	17.3	-19.3
Employee Share Plans & Voucher Services	21.6	40.3	22.8	27.9	18.9	59.0	61.9	50.7	77.9
Business Services	17.8	13.9	8.3	22.7	12.9	8.8	31.7	31.1	21.7
Communication Services & Utilities	12.3	22.3	12.2	15.2	8.6	17.4	34.6	27.4	26.0
Corporate & Technology	-0.3	-26.9	8.7	-16.4	0.9	-0.2	-27.2	-7.7	0.7
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total EBIT excluding Margin Income	166.1	177.5	149.9	148.8	135.2	203.8	343.6	298.7	339.1
EBIT excluding Margin Income Margin
							FY19 FY20 FY21
Issuer Services	23.8%	23.5%	21.9%	22.1%	23.5%	25.0%	23.6%	22.0%	24.3%
Mortgage Services & Property Rental Services	6.2%	8.7%	4.6%	0.9%	-3.6%	-3.0%	7.5%	2.8%	-3.3%
Employee Share Plans & Voucher Services	18.1%	23.4%	16.0%	18.5%	13.5%	31.4%	21.2%	17.3%	23.7%
Business Services	17.2%	13.5%	9.5%	22.9%	13.1%	10.7%	15.4%	16.6%	12.0%
Communication Services & Utilities	14.1%	24.7%	14.7%	17.7%	10.6%	19.7%	19.5%	16.2%	15.3%
Corporate & Technology	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total EBIT excluding Margin Income Margin	16.6%	16.0%	14.9%	13.9%	12.9%	17.4%	16.3%	14.3%	15.3%

==> picture [90 x 18] intentionally omitted <==

Issuer Services Profit & Loss

USD M (at actual rates)	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20

Register Maintenance	314.2	344.0	300.9	324.2	306.4	357.5
Corporate Actions	47.6	40.5	48.5	44.9	66.4	63.0
Stakeholder RelationshipManagement	35.5	31.8	18.1	40.6	35.5	51.2
Governance Services	13.4	12.4	12.5	26.4	34.6	40.5
Total Revenue ex MI Margin Income Total Management Revenue Operating expenditure Share of net profit/(loss) of associates and jv Management EBITDA Depreciation Amortisation Depreciation & Amortisation
Management EBIT
Management EBIT ex MI EBIT Margin EBIT ex MI Margin
Register Maintenance revenue breakdown
Issuerpaid	217.8	245.5	204.8	236.6	219.1	258.4
Holder/Brokerpaid	96.4	98.5	96.1	87.6	87.3	99.1
Register Maintenance MI	20.1	22.5	20.0	17.9	11.4	9.4
Total Register Maintenance	334.3	366.5	320.9	342.1	317.8	366.9

Issuer Services comprise register maintenance, corporate actions, stakeholder relationship management and corporate governance and related services. Note - UCIA includes United Kingdom, Channel Islands, Ireland and South Africa.

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Canada ANZ
8% 12%
Asia
12%
FY21
revenue
$999.3m UCIA
10%
USA
52% CEU
6%
Canada ANZ
8% 11%
Asia
9%
FY20
revenue UCIA
$894.7m 12%
CEU
USA
5%
55%
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Mortgage Services & Property Rental Services Profit & Loss

==> picture [526 x 292] intentionally omitted <==

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USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 FY19 FY20 FY21
Total Revenue ex MI 276.0 311.9 311.5 300.5 282.2 297.4 587.9 612.0 579.7
Margin Income 26.4 31.8 32.3 20.8 15.5 13.8 58.2 53.1 29.3
Total Management Revenue 302.4 343.7 343.9 321.3 297.8 311.2 646.1 665.1 609.0
Operating expenditure 235.6 260.3 261.8 262.2 244.2 250.0 495.9 523.9 494.2
Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Management EBITDA 66.8 83.4 82.1 59.1 53.6 61.2 150.2 141.2 114.8
Depreciation 2.3 0.6 4.5 -0.6 2.1 1.9 3.0 3.9 4.0
Amortisation 21.0 23.7 30.8 36.1 46.2 54.6 44.7 66.9 100.8
Depreciation & Amortisation 23.4 24.3 35.3 35.5 48.3 56.5 47.7 70.8 104.8
Management EBIT 43.4 59.1 46.8 23.6 5.3 4.7 102.5 70.4 10.0
Management EBIT ex MI 17.1 27.3 14.5 2.8 -10.2 -9.1 44.4 17.3 -19.3
EBIT Margin 14.4% 17.2% 13.6% 7.3% 1.8% 1.5% 15.9% 10.6% 1.6%
EBIT ex MI Margin 6.2% 8.7% 4.6% 0.9% -3.6% -3.0% 7.5% 2.8% -3.3%
Mortgage Services revenue breakdown
Base Servicing Fees 81.9 90.7 103.8 110.3 107.9 101.6 172.6 214.1 209.5
Servicing related fees 22.2 24.9 23.5 23.4 29.8 49.4 47.1 47.0 79.2
Other service fees 42.4 68.8 82.1 71.4 75.4 82.3 111.3 153.4 157.7
US Mortgage Services MI 12.9 16.9 17.9 6.3 2.1 1.7 29.8 24.2 3.7
US Mortgage Services Revenue 159.4 201.3 227.3 211.4 215.2 235.0 360.7 438.7 450.1
UK Mortgage Services Revenue 128.0 127.1 101.6 95.0 68.7 63.8 255.1 196.6 132.5
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UCIA
26%
FY21
revenue
$609.0m
USA
74%
UCIA
34%
FY20
revenue
$665.1m
USA
66%
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Mortgage Services & Property Rental Services comprise mortgage servicing and related activities, together with tenancy deposit protection services in the UK.

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Employee Share Plans & Voucher Services Profit & Loss

USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Employee Share Plans 116.7 172.3 141.6 148.5 136.7 184.4 Vouchers 2.8 0.1 0.8 2.4 4.1 3.8 Margin Income 7.1 8.8 6.4 5.0 2.3 1.9 Total Management Revenue 126.6 181.1 148.8 155.8 143.0 190.0 Operating expenditure 97.6 129.8 117.0 121.9 119.1 126.3 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.0 51.3 31.8 33.9 23.9 63.7 Depreciation 0.3 0.1 0.9 -0.7 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.3 2.6 1.0 2.7 2.8 Management EBIT 28.7 49.0 29.2 32.9 21.2 60.9 Management EBIT ex MI 21.6 40.3 22.8 27.9 18.9 59.0 EBIT Margin 22.7% 27.1% 19.6% 21.1% 14.8% 32.0% EBIT ex MI Margin 18.5% 23.4% 16.1% 18.8% 13.9% 32.0% Employee Share Plans revenue breakdown Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Employee Share Plans MI 7.0 8.6 6.3 4.9 2.3 1.9 Employee Share Plans Revenue 116.7 172.3 141.6 148.5 136.7 184.4	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
							289.0 290.1 321.0 2.9 3.1 7.8 15.9 11.4 4.2 307.7 304.6 333.0 227.4 238.9 245.4 0.0 0.0 0.0 80.3 65.7 87.6 0.3 0.1 1.8 2.2 3.5 3.7 2.5 3.6 5.5
							77.8 62.1 82.1
							61.9 50.7 77.9 25.3% 20.4% 24.7% 21.4% 17.5% 24.3%

Fee revenue	57.2	73.2	66.5	66.7	69.8	74.8	130.4	133.2	144.6
Transactional revenue	45.8	82.4	61.9	71.3	58.7	101.2	128.2	133.2	159.9
Other revenue	6.6	8.0	7.0	5.5	5.9	6.4	14.7	12.5	12.4
Employee Share Plans MI	7.0	8.6	6.3	4.9	2.3	1.9	15.7	11.2	4.1
Employee Share Plans Revenue	116.7	172.3	141.6	148.5	136.7	184.4	289.0	290.1	321.0

Employee Share Plans & Voucher Services comprise the provision of administration and related services for employee share and option plans, together with Childcare Voucher administration in the UK.

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CanadaANZ
6% 4% Asia
USA 13%
17%
FY21
CEU
revenue
3%
$333.0m
UCIA
57%
CanadaANZ
6% 4% Asia
11%
USA
18%
FY20
CEU revenue
3% $304.6m
UCIA
58%
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Business Services Profit & Loss

USD M (at actual rates)	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20

Corporate Trust	25.9	25.9	24.2	30.6	25.8	30.4
Bankruptcy	13.2	25.5	18.5	28.8	41.3	23.4
Class Actions	47.4	51.8	45.3	40.0	31.6	28.3
Karvy	16.9	0.1	0.0	0.0	0.0	0.0
Total Revenue ex MI Margin Income Total Management Revenue Operating expenditure Share of net profit/(loss) of associates and jv Management EBITDA Depreciation Amortisation Depreciation & Amortisation
Management EBIT
Management EBIT ex MI EBIT Margin EBIT ex MI Margin

Business Services comprises the provision of bankruptcy and class actions administration services and the legacy corporate trust operations in Canada and the US.

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UCIA
4%
Canada
34%
FY21
revenue
$210.2m
USA
62%
UCIA
6%
Canada
35%
FY20
revenue
$243.6m
USA
59%
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Communication Services & Utilities Profit & Loss

USD M (at actual rates)	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20	1H19 2H19 1H20 2H20

Communication Services	83.2	85.9	79.4	82.1	77.9	83.6
Utilities	4.3	4.3	3.7	3.6	3.5	4.7
Margin Income Total Management Revenue Operating expenditure Share of net profit/(loss) of associates and jv Management EBITDA Depreciation Amortisation Depreciation & Amortisation
Management EBIT
Management EBIT ex MI EBIT Margin

Communication Services and Utilities operations comprise document composition and printing, intelligent mailing, inbound process automation, scanning and electronic delivery.

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Canada
5%
USA
23%
FY21
ANZ
revenue
49%
$169.7m
CEU
18%
UCIA
5%
Canada
5%
USA
23%
FY20
ANZ
revenue
48%
$168.8m
CEU
20%
UCIA
4%
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ANZ 61%

Corporate & Technology Profit & Loss

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USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 FY19 FY20 FY21
Total Revenue ex MI 5.4 1.0 3.3 1.0 0.9 0.7 6.4 4.2 1.7
Margin Income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total Management Revenue 5.4 1.0 3.3 0.9 0.9 0.7 6.4 4.2 1.7
Operating expenditure -7.0 11.9 -34.6 -21.5 -31.2 -30.5 4.9 -56.1 -61.7
Share of net profit/(loss) of associates and jv -1.1 -0.1 -0.1 -0.3 -0.2 -0.3 -1.2 -0.4 -0.6
Management EBITDA 11.2 -11.0 37.8 22.1 31.9 30.9 0.2 60.0 62.8
Depreciation 11.4 15.7 28.8 38.3 30.9 29.7 27.0 67.2 60.6
Amortisation 0.2 0.2 0.2 0.2 0.2 1.4 0.4 0.5 1.6
Depreciation & Amortisation 11.6 15.9 29.1 38.6 31.1 31.1 27.4 67.6 62.2
Management EBIT -0.3 -26.9 8.8 -16.4 0.9 -0.2 -27.2 -7.7 0.7
Management EBIT ex MI -0.3 -26.9 8.7 -16.4 0.9 -0.2 -27.2 -7.7 0.7
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*IFRS16/AASB 16 (Leases) came into effect from 1[st] July 2019 (FY20). There is a favourable impact to EBITDA of $47.9m in FY20 and $49.3m in FY21 and conversely, an adverse impact to Depreciation of $41.9m in FY20 and $43.1m in FY21. The credit against operating expenditure reflects the recharge of the Groupwide Property rental expense which is allocated out to our business lines, with the depreciation line in this P&L incorporating the expense associated with the Group’s property leases.

Corporate & Technology includes shared service functions including Risk, Internal Audit, People, Facilities, Global Information Security and Corporate. Computershare allocates out all corporate expenses to our business lines. The residual Corporate and Technology revenues reflect some third-party technology revenues, rental income, interest income and other corporate related transaction income.

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USA, 6%
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FY21
revenue
$1.7m
UCIA, 90%
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FY20
UCIA
33% revenue
$4.2m
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Employee Share Plans Profit & Loss

USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 Fee revenue 57.2 73.2 66.5 66.7 69.8 74.8 Transactional revenue 45.8 82.4 61.9 71.3 58.7 101.2 Other revenue 6.6 8.0 7.0 5.5 5.9 6.4 Margin Income 7.0 8.6 6.3 4.9 2.3 1.9 Total Management Revenue 116.7 172.3 141.6 148.5 136.7 184.4 Operating expenditure 94.6 126.9 114.6 119.7 117.4 124.7 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 22.1 45.4 27.1 28.8 19.3 59.6 Management EBITDA ex MI 15.1 36.7 20.8 23.8 17.1 57.7 EBITDA Margin 19% 26% 19% 19% 14% 32% Depreciation 0.3 0.1 0.9 -0.8 0.9 0.9 Amortisation 0.0 2.2 1.7 1.7 1.8 1.9 Depreciation & Amortisation 0.3 2.2 2.6 1.0 2.7 2.8 Management EBIT 21.8 43.1 24.5 27.8 16.6 56.8 Management EBIT ex MI 14.8 34.5 18.2 22.8 14.3 55.0 EBIT Margin 18.7% 25.0% 17.3% 18.7% 12.1% 30.8% EBIT ex MI Margin 13.5% 21.1% 13.4% 15.9% 10.7% 30.1%	FY19 FY20 FY21
	130.4 133.2 144.6 128.2 133.2 159.9 14.7 12.5 12.4 15.7 11.2 4.1 289.0 290.1 321.0 221.6 234.3 242.1 0.0 0.0 0.0 67.5 55.8 78.9 51.8 44.6 74.8 23% 19% 25% 0.3 0.1 1.8 2.2 3.5 3.7 2.5 3.6 5.5
	64.9 52.2 73.4
	49.3 41.0 69.3 22.5% 18.0% 22.9% 18.0% 14.7% 21.9%

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UK Mortgage Services Profit & Loss

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USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 FY19 FY20 FY21
UKAR Fixed Fee 48.1 44.8 27.4 23.3 4.0 0.1 93.0 50.6 4.1
Other fee revenue 79.9 82.3 74.2 71.7 64.7 63.7 162.1 146.0 128.4
Margin Income 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total Management Revenue 128.0 127.1 101.6 95.0 68.7 63.8 255.1 196.6 132.5
Operating expenditure 108.6 110.0 102.2 100.9 69.4 69.3 218.6 203.0 138.6
Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Management EBITDA 19.4 17.1 -0.6 -5.9 -0.7 -5.5 36.5 -6.4 -6.1
EBITDA Margin 15% 13% -1% -6% -1% -9% 14% -3% -5%
Depreciation 1.2 -1.0 1.0 -1.0 0.0 0.1 0.3 0.1 0.1
Amortisation 0.0 0.0 0.7 0.4 0.4 0.4 0.0 1.1 0.9
Depreciation & Amortisation 1.2 -1.0 1.7 -0.6 0.5 0.5 0.3 1.1 1.0
Management EBIT 18.2 18.1 -2.3 -5.3 -1.1 -6.0 36.3 -7.6 -7.1
EBIT Margin 14.2% 14.2% -2.2% -5.6% -1.6% -9.3% 14.2% -3.9% -5.3%
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Performing Non- performing Total FY19	Performing Non- performing Total FY19	Performing Non- performing Total FY19	Performing Non- performing Total FY19	FY20	FY20	FY20	FY21	FY21	FY21
				Performing Non- performing Total			Performing Non- performing Total
UPB £bn*	48.1	4.2	52.3	44.5	4.5	49.0	40.4	3.5	43.9
Number of loans(k)*	381.0	34.0	415.0	339.0	33.0	372.0	286.0	26.0	312.0

Servicing performed on a contractual basis

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US Mortgage Services Profit & Loss

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USD M (at actual rates) 1H19 2H19 1H20 2H20 1H21 2H21 FY19 FY20 FY21
Base Servicing Fees 81.9 90.7 103.8 110.3 107.9 101.6 172.6 214.1 209.5
Servicing related fees 22.2 24.9 23.5 23.4 29.8 49.4 47.1 47.0 79.2
Other service fees 42.4 68.8 82.1 71.4 75.4 82.3 111.3 153.4 157.7
Margin Income 12.9 16.9 17.9 6.3 2.1 1.7 29.8 24.2 3.7
Total Management Revenue 159.4 201.3 227.3 211.4 215.2 235.0 360.7 438.7 450.1
Operating expenditure 119.6 143.2 150.8 154.2 167.5 173.6 262.7 305.0 341.1
Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Management EBITDA 39.8 58.1 76.4 57.3 47.7 61.4 98.0 133.7 109.0
Management EBITDA ex MI 27.0 41.2 58.6 50.9 45.6 59.7 68.2 109.5 105.3
EBITDA Margin 25% 29% 34% 27% 22% 26% 27% 30% 24%
Depreciation 1.1 1.4 3.4 0.4 2.1 1.8 2.5 3.8 3.9
Amortisation 20.4 23.2 29.5 35.0 45.1 53.9 43.6 64.5 99.0
Depreciation & Amortisation 21.5 24.6 32.9 35.4 47.2 55.7 46.1 68.3 102.9
Management EBIT 18.4 33.5 43.6 21.8 0.5 5.7 51.9 65.4 6.2
Management EBIT ex MI 5.5 16.6 25.7 15.5 -1.6 4.0 22.1 41.2 2.4
EBIT Margin 11.5% 16.7% 19.2% 10.3% 0.2% 2.4% 14.4% 14.9% 1.4%
EBIT ex MI Margin 3.8% 9.0% 12.3% 7.6% -0.7% 1.7% 6.7% 9.9% 0.5%
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Revenue definitions

Base fees – Fees received for base servicing activities. Fees are generally assessed in bps for owned or structured deals, while subservicing is usually paid as a $ fee. Subservicing fees vary by loan delinquency or category.
Servicing related fees – Additional fees received from servicing a loan. This includes Loss mitigation fees e.g. for loan modifications and ancillary Fees e.g. late fees.
Other service fees - includes valuation, real estate disposition services, loan fulfilment services and CMC Coop Service.
Margin Income - Interest received on mortgagor funds prior to distribution.

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US Mortgage Services - UPB and number of loans

	Performing Non- performing Total UPB and number of loans FY20	Performing Non- performing Total UPB and number of loans FY20	Performing Non- performing Total UPB and number of loans FY20	Performing Non- performing Total UPB and number of loans FY20	Performing Non- performing Total UPB and number of loans FY20	FY21	FY21	FY21	FY21 v FY20	FY21 v FY20	FY21 v FY20
						Performing Non- performing Total			Performing Non- performing Total
	Fully owned MSR's	UPB $bn Number of loans (k)	31.5 131.4	9.2 84.7	40.7 216.1	31.3	7.8	39.1	-0.5% 15.3%	-15.4% -26.4%	-3.9% -1.1%
						151.5	62.3	213.8
SA	Part owned MSR's	UPB $bn	20.2	19.9	40.0	13.1	15.8	28.9	-35.0% -31.1%	-20.5% -16.3%	-27.8% -23.7%
		Number of loans (k)	102.8	103.9	206.7	70.8	86.9	157.7
U	Subservicing	UPB $bn	27.8	10.0	37.8	35.5	8.4	43.9	27.7%	-16.3%	16.0%
		Number of loans (k)	162.9	109.9	272.7	212.4	78.0	290.4	30.4%	-29.0%	6.5%
	Total USA	UPB $bn	79.4	39.1	118.5	79.9	32.0	111.9	0.6%	-18.2%	-5.5%
		Number of loans(k)	397.1	298.4	695.5	434.7	227.2	661.9	9.5%	-23.9%	-4.8%

Key Definitions

Performing servicing: Servicing of a mortgage which is less than 30 days delinquent. Typically loans that meet the criteria of the Government Sponsored Entities e.g. “Fannie Mae”, “Freddie Mac”.
Non-performing servicing: Servicing of a mortgage that is over 30 days delinquent up to management of the foreclosure process. Typically, nonperforming servicing is performed over loans that are part of a securitization arrangement.
Mortgage servicing rights (MSR): Intangible assets representing an ownership right to service the mortgage for a fee for the life of the mortgage. The owner of the MSR can either service the loan itself or appoint a sub-servicer to do so. A fully owned MSR is where CPU owns the MSR outright.
Servicing advances: The owner of the MSR is required to fund various obligations required to protect a mortgage if the borrower is unable to do so. Advances receive a priority in any liquidation and are often financed in standalone non-recourse servicing advance facilities.
Part owned MSR’s
CPU has sold part of the MSR to a third party investor.
An Excess Strip Sale refers to the sale of a stream of cash flows associated with the servicing fee on a performing MSR. The seller of the servicing strip has the ability to service the mortgage.
An SPV deal refers to the sale of the rights to the MSR and associated servicing advances into an SPV. CPU typically takes a 20% equity stake in the SPV and performs all servicing on the loans via a sub-servicing fee for service relationship.
Subservicing: Servicing performed on a contractual basis.

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US Mortgage Services - Invested Capital

USD M (at actual rates)	1H19	FY19	1H20	FY20	1H21	FY21
	Dec	Jun	Dec	Jun	Dec	Jun
Net Loan Servicing Advances1	44.3	59.5	101.0	88.8	91.5	119.0
Net MSR intangible asset2	298.5	330.3	440.0	458.2	489.7	512.9
Investment in SPVs3	37.4	38.6	34.0	35.6	32.8	30.3
Other intangible assets4	75.7	73.7	72.1	70.2	68.8	67.5
Total invested capital	455.8	502.2	647.1	652.8	682.8	729.6

Net cash payments for MSR purchases5	45.7	100.4	139.3	185.0	65.9	123.6
MSR amortisation6	20.4	43.1	29.7	64.5	45.1	99.0

1 FY20 Annual report reference: Note 14 Borrowings on SLS non-recourse lending facility and Note 16 Loan servicing advances.

2 FY20 Annual report reference: Note 9 Intangible assets on Mortgage servicing rights and Note 25 Mortgage servicing related liabilities.

3 FY20 Annual report reference: Note 13 Financial assets and liabilities at fair value through profit or loss regarding Investment in structured entities.

4 Other intangibles are largely goodwill and acquired client lists related to acquisitions.

5 Refer to Cashflow statement: Investing cash flow - Payments for intangible assets including MSRs.

6 Amortisation for all servicing rights is calculated using the straight line method over their estimated useful lives of eight years for the interest-sensitive portfolio and nine years for the non interest-sensitive portfolio.

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FY21 Revenue by Business Unit and Geography

USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total	USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total
Register Maintenance	95.8	56.1	65.5	55.4	345.6	66.3	684.8
Corporate Actions	18.6	54.4	14.7	0.0	53.3	11.7	152.7
Stakeholder RelationshipManagement	1.8	5.8	16.2	0.0	62.9	0.0	86.7
Governance Services	0.9	0.3	8.2	3.4	59.9	2.4	75.1
Issuer Services	117.2	116.5	104.6	58.8	521.8	80.5	999.3
UK Mortgage Services	0.0	0.0	132.5	0.0	0.0	0.0	132.5
US Mortgage Services	0.0	0.0	0.0	0.0	450.1	0.0	450.1
Mortgage Services & Property Rental Services	0.0	0.0	158.8	0.0	450.1	0.0	609.0
Employee Share Plans	13.3	44.8	176.0	10.7	56.8	19.4	321.0
Employee Share Plans & Voucher Services	13.3	44.8	188.0	10.7	56.8	19.4	333.0
Corporate Trust	0.0	0.0	0.0	0.0	7.9	67.3	75.2
Bankruptcy	0.0	0.0	0.0	0.0	67.6	0.0	67.6
Class Actions	0.0	0.0	9.3	0.0	53.8	4.3	67.4
Business Services	0.0	0.0	9.3	0.0	129.3	71.6	210.2
Communication Services & Utilities	83.0	0.0	7.7	31.4	38.9	8.7	169.7
Corporate & Technology	0.0	0.0	1.5	0.0	0.1	0.0	1.7
Total Revenue	213.4	161.3	470.0	100.9	1,197.0	180.2	2,322.8

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FY21 Revenue by Country (USD and Local Currency)

USD M(at actual rates)	Australia	Hong Kong	UK & Offshore	Switzerland	South Africa	Germany	USA	Canada	Other	Total
Register Maintenance	86.7	56.1	45.8	7.8	12.4	22.1	345.6	66.3	41.9	684.8
Corporate Actions	17.3	54.4	9.7	0.0	1.5	0.0	53.3	11.7	4.9	152.7
Stakeholder RelationshipManagement	1.8	5.8	7.7	0.0	0.0	0.0	62.9	0.0	8.5	86.7
Governance Services	0.9	0.3	7.5	0.0	0.5	0.6	59.9	2.4	3.0	75.1
Issuer Services	106.7	116.5	70.7	7.8	14.4	22.7	521.8	80.5	58.3	999.3
Mortgage Services & PropertyRental Services	0.0	0.0	158.8	0.0	0.0	0.0	450.1	0.0	0.0	609.0
Employee Share Plans & Voucher Services	13.6	44.2	93.6	65.2	0.3	1.0	81.2	19.4	14.6	333.0
Business Services	0.0	0.0	9.3	0.0	0.0	0.0	129.3	71.6	0.0	210.2
Communication Services & Utilities	83.0	0.0	7.7	0.0	0.0	31.4	38.9	8.7	0.0	169.7
Corporate & Technology	0.0	0.0	1.5	0.0	0.0	0.0	0.1	0.0	0.0	1.7
Total Revenue in USD	203.2	160.8	341.7	73.0	14.7	55.1	1,221.4	180.2	72.9	2,322.8

	Australia	Hong Kong	UK & Offshore	Switzerland	South Africa	Germany	USA	Canada	Other
	AUD HKD GBP CHF RAND EUR USD CAD USD
Register Maintenance	116.7	435.1	34.2	7.1	193.4	18.5	345.6	85.7	41.9
Corporate Actions	23.3	421.5	7.2	0.0	22.8	0.0	53.3	15.1	4.9
Stakeholder RelationshipManagement	2.4	45.0	5.8	0.0	0.2	0.0	62.9	0.0	8.5
Governance Services	1.2	2.0	5.6	0.0	7.9	0.5	59.9	3.1	3.0
Issuer Services	143.6	903.7	52.7	7.1	224.3	19.0	521.8	104.0	58.3
Mortgage Services & PropertyRental Services	0.0	0.0	118.5	0.0	0.0	0.0	450.1	0.0	0.0
Employee Share Plans & Voucher Services	18.3	342.9	69.8	59.4	3.9	0.8	81.2	25.1	14.6
Business Services	0.0	0.0	6.9	0.0	0.0	0.0	129.3	92.5	0.0
Communication Services & Utilities	111.7	0.0	5.8	0.0	0.0	26.4	38.9	11.3	0.0
Corporate & Technology	0.1	0.1	1.1	0.0	0.1	0.0	0.1	0.0	0.0
Total Revenue in local currency	273.6	1,246.6	254.9	66.5	228.4	46.2	1,221.4	232.8	72.9

Equatex Revenue of $91.958m has been split between Switzerland $63.4m, USA $24.4m, UK $1.0m and Other $3.2m. In addition, Switzerland includes revenue for Register Maintenance $7.8m and Employee Share Plans $1.8m.

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Revenue, EBITDA and EBIT by Region

USD M (at actual rates)

Revenue 1H19 2H19 1H20 2H20 1H21 2H21	Revenue 1H19 2H19 1H20 2H20 1H21 2H21	Revenue 1H19 2H19 1H20 2H20 1H21 2H21	Revenue 1H19 2H19 1H20 2H20 1H21 2H21	Revenue 1H19 2H19 1H20 2H20 1H21 2H21	Revenue 1H19 2H19 1H20 2H20 1H21 2H21	Revenue 1H19 2H19 1H20 2H20 1H21 2H21	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
ANZ	123.5	96.9	107.7	88.7	111.4	102.0	220.4	196.4	213.4
Asia 69.6		49.5	52.4	60.1	76.8	84.6	119.1	112.5	161.3
UCIA	260.7	319.6	258.7	268.3	215.8	254.2	580.3	527.0	470.0
CEU 41.5 62.8							104.4 87.5 100.9
USA	531.7	605.5	576.6	595.4	574.5	622.5	1,137.2	1,172.0	1,197.0
Canada 100.9 94.3							195.2 185.8 180.2
Total Revenue	1,127.8	1,228.7	1,124.3	1,156.9	1,102.5	1,220.3	2,356.5	2,281.2	2,322.8

							FY19 FY20 FY21
ANZ	18.7	6.0	16.9	5.2	8.7	14.9	24.7	22.1	23.7
Asia 26.5		16.8	21.3	23.0	39.1	32.0	43.3	44.3	71.1
UCIA	59.1	77.1	41.1	50.4	33.2	56.1	136.2	91.5	89.4
CEU 3.9 14.7							18.6 10.7 18.4
USA	175.6	190.7	202.0	190.3	156.6	186.1	366.2	392.3	342.7
Canada 47.6 38.2							85.8 85.5 83.1
Total EBITDA	331.4	343.4	336.6	309.7	277.7	350.5	674.9	646.4	628.2

							FY19 FY20 FY21
ANZ	16.6	4.1	11.5	0.1	3.1	8.7	20.7	11.6	11.7
Asia 26.3		16.6	19.5	21.2	37.2	29.9	43.0	40.7	67.1
UCIA	53.5	70.1	28.8	37.5	20.7	44.4	123.6	66.4	65.1
CEU 3.0 13.5			5.7 0.6 2.4 11.7 154.9 136.6 93.7 115.4 45.4 36.1 33.7 45.2 265.9 232.2 190.8 255.3				16.5 6.3 14.1
USA	144.7	156.7	154.9	136.6	93.7	115.4	301.4	291.6	209.2
Canada 47.1 37.7							84.9 81.5 78.9
Total EBIT	291.3	298.8	265.9	232.2	190.8	255.3	590.1	498.0	446.1

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Revenue excluding acquisitions and disposals

USD M (at actual rates)	1H19	2H19	1H20	2H20	1H21	2H21	FY19	FY20	FY21
Management Revenue	1,127.8	1,228.7	1,124.3	1,156.9	1,102.5	1,220.3	2,356.5	2,281.2	2,322.8
Less acquisitions*	12.2	76.6	43.4	11.6	20.3	11.0	88.9	55.1	31.2
Less disposals	23.4	0.1					23.5
Less UKAR fixed fee	48.1	44.8	27.4	23.3	4.0	0.1	93.0	50.6	4.1
Less Margin Income	125.2	121.2	116.0	83.4	55.5	51.5	246.5	199.4	107.0
Management Revenue excluding acquisitions and disposals, UKAR fixed fee and MI	918.8	986.0	937.5	1,038.6	1,022.7	1,157.8	1,904.8	1,976.1	2,180.5

Reflects first 12 months revenue contribution.

Acquisitions: Equatex Group Holding AG (9th Nov 18), LenderLive Financial Services, LLC (31st Dec 18), Corporate Creations (28th February 20), Verbatim LLC (1st July 20). Disposals: Karvy – 50% interest (17th Nov 18)

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Statutory results

USD M (at actual rates)

Statutory results	FY20	FY21	FY21 v 20
Total revenue from continuing operations	2,277.3	2,283.2	0.3%
Other income	3.9	50.9	1203.6%
Total Revenue	2,281.2	2,334.1	2.3%
Total Expenses	1,957.1	2,064.3	5.5%
Statutory Net Profit (post NCI)	232.7	189.0	-18.8%
Earnings per share (post NCI)	42.55	33.77	-20.6%
Reconciliation of Statutory Revenue to Management Results			FY21
Total Revenue per statutory results			2,334.1
Management Adjustments			-11.2
Gain on Disposal of the Group's shareholding in Euroclear Holding SA/NV			-11.2
Total Revenue per management results			2,322.8
Reconciliation of Statutory NPAT to Management Results			FY21
Net profit after tax per statutory results			189.0
Management Adjustments (after tax)
Amortisation			42.7
Acquisitions and Disposals			24.5
Other			27.5
Total Management Adjustments			94.8
Net profit after tax per management results			283.7
Management Earnings per share (cps)			50.71

Management results are used, along with other measures, to assess operating business performance. The Company believes that exclusion of certain items permits better analysis of the Group’s performance on a comparative basis and provides a better measure of underlying operating performance. These items are typically nonrecurring costs associated with significant restructuring programs and integration of acquisitions and profits and losses arising from the sale of businesses and investments.
Management adjustments are made on the same basis as in prior years.
Non-cash management adjustments include significant amortisation of identified intangible assets from businesses acquired in recent years, which will recur in subsequent years, asset disposals and other one-off charges.
Cash adjustments are predominantly expenditure on acquisitionrelated and other restructures and will cease once the relevant acquisition integrations and restructures are complete.
A full description of the current financial year’s management adjustments is included on the next slide.
The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with Australian Auditing Standards.

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Management adjustment items

USD M (at actual rates)	FY19	FY20	FY21
Management adjustments items (net of tax)
Amortisation	40.1	42.6	42.7
Amortisation of acquisition related intangible assets	40.1	42.6	42.7
Acquisitions and Disposals	-86.4	5.9	24.5
Acquisition related expenses	13.6	15.7	33.6
Gain on disposal of Karvy	-106.4
One-off tax expense on Equatex IP restructure	5.8	-1.1
Acquisition accounting adjustments	0.7	-1.0
Benefits of tax losses not previously recognised on Equatex acquisition		-7.7
Gain on Disposal of the Group's shareholding in Euroclear Holding SA/NV			-9.1
Other	11.9	22.7	27.5
Major restructuring costs	14.8	19.9	29.2
Marked to market adjustments - derivatives	-3.1	2.8	1.6
Impairment charge - investments in associates	13.5
Restatement of deferred tax balances due to US tax law changes	-12.8
Put option liability re-measurement	-1.7
True-up of US tax reform impact on foreign subsidiary profits	1.2
Reversal of provisions			-3.2
Total Management Adjustments	-34.4	71.2	94.8

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Other expenditure

USD M (at actual rates)

USD M (at actual rates)
Operating costs	1H19 2H19 1H20 2H20 1H21 2H21 175.5 202.9 171.2 200.6 202.9 219.6 477.9 531.6 489.9 514.4 502.3 534.3 450.1 501.6 465.8 490.4 485.4 516.1						FY19 FY20 FY21
Cost of Sales	175.5	202.9	171.2	200.6	202.9	219.6	378.4	371.8	422.4

Personnel	477.9	531.6	489.9	514.4	502.3	534.3	1,009.5	1,004.3	1,036.6
Fixed/Perm	450.1	501.6	465.8	490.4	485.4	516.1	951.7	956.2	1,001.5
Variable/Temp	27.7	30.1	24.1	24.0	16.9	18.2	57.8	48.1	35.1
Occupancy Other Direct Computer/External Technology	38.9	38.6	16.1	16.6	17.5	13.8	77.5	32.7	31.3
	52.9	55.2	60.6	57.7	58.9	55.4	108.1	118.4	114.3
	50.3	56.9	50.0	57.9	43.5	46.8	107.2	107.9	90.3
Total Operating Expenses	619.9	682.4	616.6	646.6	622.2	650.3	1,302.3	1,263.3	1,272.5
Total Operating Expenditure	795.4	885.3	787.8	847.3	825.1	869.9	1,680.7	1,635.1	1,695.0

Note 1: Computer/External technology includes hardware, software licenses, network and voice costs, 3rd party vendor fees and data centre costs.

Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	Technology Costs 1H19 2H19 1H20 2H20 1H21 2H21	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
Development	35.7	36.6	47.7	51.5	48.5	52.2	72.3	99.2	100.7
Infrastructure	45.1	50.3	57.3	59.0	55.2	57.0	95.4	116.3	112.2
Maintenance	43.0	44.9	29.6	26.2	22.1	20.0	87.9	55.9	42.2
Admin	4.1	5.9	7.6	7.2	6.4	6.7	10.0	14.8	13.1
Total Technology Costs	128.0	137.7	142.2	144.0	132.3	135.9	265.6	286.1	268.2
Technology costs as a % of revenue	11.3%	11.2%	12.6%	12.4%	12.0%	11.1%	11.3%	12.5%	11.5%

Note 2: Technology costs include personnel, occupancy and other direct costs attributable to technology services. No internal development cost is capitalised.

Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	Capex breakdown 1H19 2H19 1H20 2H20 1H21 2H21	FY19 FY20 FY21	FY19 FY20 FY21	FY19 FY20 FY21
Information Technology	24.0	13.1	9.0	7.8	6.6	11.7	37.1	16.8	18.3
Communication Services Facilities	3.9	2.7	0.2	3.6	1.5	2.6	6.6	3.8	4.1
Occupancy	4.7	7.7	4.1	1.0	2.3	1.0	12.3	5.1	3.3
Other	0.8	0.4	0.4	0.7	0.1	1.1	1.2	1.1	1.3
Total Capex	33.3	23.8	13.6	13.2	10.6	16.4	57.2	26.8	27.0

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Breakdown of average client balances

	1H19	2H19	1H20	2H20	1H21	2H21	FY19	FY20	FY21
Total Balances ($bn)	21.0	16.1	16.8	17.6	17.6	20.0	18.5	17.2	18.8
Exposed Balances	12.9	11.3	11.6	11.2	12.8	14.4	12.1	11.4	13.6
Exposed: Hedged balances
By Profile	2.9	3.0	3.6	3.3	2.8	3.4	2.9	3.5	3.1
Fixed rate deposits	1.6	1.6	3.2	2.9	2.7	3.4	1.6	3.0	3.0
Fixed rate swaps	1.2	1.4	0.4	0.4	0.1	0.0	1.3	0.4	0.0
Split by Currency	2.9	3.0	3.6	3.3	2.8	3.4	2.9	3.5	3.1
AUD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
CAD	0.1	0.1	0.6	0.5	0.5	0.5	0.1	0.6	0.5
GBP	1.2	1.2	1.4	1.4	1.6	1.8	1.2	1.4	1.7
USD	1.6	1.7	1.6	1.4	0.7	1.0	1.7	1.5	0.9
Exposed: Non - hedged balances
By Profile	10.0	8.3	8.0	7.9	10.0	11.0	9.2	7.9	10.5
Non - hedged balances	8.6	6.7	6.1	6.0	9.9	9.9	7.5	6.0	9.5
Natural hedge floating rate debt	1.4	1.6	1.9	1.9	0.1	1.0	1.6	1.9	1.0
Split by Currency	10.0	8.3	8.0	7.9	10.0	11.0	9.2	7.9	10.5
AUD	0.4	0.3	0.3	0.3	0.4	0.4	0.3	0.3	0.4
CAD	1.6	1.3	1.1	1.1	1.2	1.7	1.4	1.1	1.5
GBP	2.5	2.5	2.1	2.0	2.0	2.2	2.5	2.1	2.1
USD	5.0	3.8	3.9	4.0	5.9	6.2	4.4	3.9	6.0
Other	0.5	0.5	0.6	0.4	0.5	0.4	0.5	0.5	0.5
Non-Exposed Balances	8.1	4.8	5.2	6.4	4.8	5.6	6.4	5.8	5.2

Average exposed balances prior to hedging

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OtherAUD
4% 3% CAD
14%
FY21
USD
GBP
51%
28%
Other AUD
4% 3% CAD
15%
USD FY20
48%
GBP
30%
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Note: All non-exposed balances are not hedged. Excludes CCT balances.

Breakdown of Margin Income

Margin Income contribution from exposed hedged balances

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At actual rates 1H19 2H19 1H20 2H20 1H21 2H21 FY19 FY20 FY21
Total Margin Income 125.2 121.2 116.0 83.4 55.5 51.5 246.4 199.4 107.0
Exposed 103.0 107.7 103.7 72.6 48.2 46.6 210.7 176.3 94.8
Exposed: Hedged
By Profile 31.5 33.9 42.2 38.7 31.5 32.3 65.4 80.9 63.8
Fixed rate deposits 16.6 16.4 35.7 32.6 28.4 29.2 33.0 68.3 57.6
Fixed rate swaps 14.9 17.5 6.5 6.1 3.1 3.1 32.4 12.6 6.1
Split by Country 31.5 33.9 42.2 38.7 31.5 32.3 65.4 80.9 63.8
Australia 0.0 0.0 0.0 0.0 0.1 0.1 0.0 0.0 0.2
Canada 0.6 0.6 7.5 6.4 5.8 6.0 1.3 13.9 11.8
UK 8.3 10.1 11.2 11.1 12.1 12.0 18.5 22.3 24.1
US 22.5 23.2 23.5 21.2 13.5 14.1 45.7 44.7 27.6
Exposed: Non - hedged
By Profile 71.5 73.8 61.5 33.9 16.7 14.3 145.3 95.4 31.0
Non - hedged 71.5 73.8 61.5 33.9 16.7 14.3 145.3 95.4 31.0
Natural hedge floating rate debt 1 n/a n/a n/a n/a n/a n/a n/a n/a n/a
Split by Country 71.5 73.8 61.5 33.9 16.7 14.3 145.3 95.4 31.0
Australia 2.0 1.6 1.0 0.2 0.5 0.0 3.6 1.2 0.5
Canada 19.2 15.6 12.3 7.8 1.7 2.4 34.8 20.1 4.1
UK 11.7 14.1 10.1 8.0 3.4 2.0 25.8 18.1 5.4
US 37.1 41.3 36.3 16.2 10.1 9.1 78.4 52.5 19.2
Other 1.5 1.3 1.9 1.7 1.0 0.8 2.8 3.6 1.8
Non-Exposed 22.2 13.5 12.3 10.8 7.3 4.9 35.7 23.1 12.2
Total Margin Income ($m) 125.2 121.2 116.0 83.4 55.5 51.5 246.4 199.4 107.0
Exposed Margin Income 103.0 107.7 103.7 72.6 48.2 46.6 210.7 176.3 94.8
Non-Exposed Margin Income 22.2 13.5 12.3 10.8 7.3 4.9 35.7 23.1 12.2
Average annualised yield 1.19% 1.52% 1.38% 0.95% 0.63% 0.52% 1.33% 1.16% 0.57%
Exposed 1.60% 1.91% 1.79% 1.30% 0.75% 0.65% 1.74% 1.55% 0.70%
Exposed: Hedged 2.20% 2.26% 2.34% 2.34% 2.29% 1.91% 2.22% 2.34% 2.09%
Exposed: Non - hedged 1.43% 1.77% 1.54% 0.86% 0.33% 0.26% 1.59% 1.20% 0.30%
Non-exposed 0.55% 0.58% 0.47% 0.34% 0.30% 0.18% 0.55% 0.40% 0.23%
Exposed: Hedged (underlying) 2 2.20% 2.26% 2.34% 2.34% 2.07% 1.73% 2.22% 2.34% 1.89%
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Australia
0% Canada
17%
US
47% FY21
UK
36%
Australia
0% Canada
17%
US FY20
55% UK
28%
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1 Interest on debt is recorded separately to Margin Income. However, the floating rate debt balances provide a natural offset to the interest rate exposure from exposed client balances for the Group.

2 Margin Income in FY21 reflects the benefit of hedges unwound in June 2020. The lower adjusted yield reflects the removal of this benefit.

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Exposed and non-exposed average balances by business

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FY19 Balances Margin FY20 Balances Margin FY21 Balances Margin
(USDbn) Income (USDbn) Income (USDbn) Income
At actual rates Exp Non-Exp (USDm) Exp Non-Exp (USDm) Exp Non-Exp (USDm)
Register Maintenance 2.4 0.4 42.6 2.2 0.7 37.9 2.7 0.2 20.9
Corporate Actions 3.0 2.4 69.8 1.6 1.8 40.7 2.2 2.1 23.3
Issuer Services 5.4 2.8 112.4 3.8 2.5 78.7 4.9 2.3 44.2
Employee Share Plans & Voucher Services 1.5 0.2 15.9 1.3 0.2 11.4 1.3 0.1 4.2
Business Services 2.0 3.4 60.0 2.4 3.2 56.2 3.0 2.9 29.4
Mortgage Services & Property Rental Services 3.2 0.0 58.2 3.8 0.0 53.1 4.4 0.0 29.3
Totals 12.1bn 6.4bn 246.5m 11.4bn 5.8bn 199.4m 13.6bn 5.2bn 107.0m
Total average balances 18.5bn 17.2bn 18.8bn
Margin Income 210.7m 35.7m 176.3m 23.1m 94.8m 12.2m
Average annualised yield 1.74% 0.55% 1.55% 0.40% 0.70% 0.23%
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Profile of our swap and fixed rate deposit book and floating rate deposits

	1H22	2H22	1H23	2H23	1H24	2H24	1H25	2H25	1H26	2H26
Exposed: Hedged balances ($bn)
By Profile	2.0	1.4	1.1	0.9	0.6	0.6	0.4	0.4	0.4	0.2
Fixed rate deposits	2.0	1.4	1.1	0.8	0.6	0.6	0.4	0.4	0.4	0.2
Fixed rate swaps	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-	-	-
Split by Currency	2.0	1.4	1.1	0.9	0.6	0.6	0.4	0.4	0.4	0.2
AUD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	-	-	-
CAD	0.5	0.5	0.2	0.2	0.2	0.2	0.0	-	-	-
GBP	1.1	0.9	0.9	0.6	0.4	0.4	0.4	0.4	0.4	0.2
USD	0.4	0.0	-	-	-	-	-	-	-	-
Exposed: Non-hedged (floating rate term deposits)		($bn)
By Profile	3.8	3.6	3.4	2.2	1.4	1.1	1.0	0.9	0.7	0.5
Floating rate deposits	3.8	3.6	3.4	2.2	1.4	1.1	1.0	0.9	0.7	0.5
Split by Currency	3.8	3.6	3.4	2.2	1.4	1.1	1.0	0.9	0.7	0.5
AUD	-	-	-	-	-	-	-	-	-	-
CAD	1.5	1.5	1.5	1.0	0.8	0.8	0.8	0.7	0.6	0.5
GBP	1.0	1.0	0.9	0.5	0.0	0.0	0.0	0.0	-	-
USD	1.2	1.1	1.0	0.8	0.6	0.3	0.2	0.2	0.0	-

Figures represent average notional balances for each half as at 30 June 2021.
CPU manages client balances in line with internal policies around counterparty credit risk, concentration of deposit risk and minimum levels of hedging.
Replacement/additional fixed rate deposits/swaps are expected to be implemented over future periods.
Balance figures reported at 30 June 2021 do not include the hedges unwound in FY20 (margin income benefitting through to FY24 of which $5.96m in FY22, $5.04m in FY23 and $1.60m in FY24).

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Key sensitivities on FY21 Margin Income (excluding CCT)

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Interest Rate and Balance Sensitivity Currency Sensitivity
USD M Interest Rates [1] USD M GBP FX rate
At actual rates -25bps Base Case +25bps At actual rates -10% Base Case +10%
-10% 73.9 97.5 121.1 -10% 102.0 104.7 107.4
Base Base
80.8 107.0 133.3 104.3 107.0 109.7
Case Case
10% 87.6 116.5 145.4 +10% 106.6 109.3 112.0
2
CAD
Exposed Balances FX Rate
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1 Assumes movements in short term floating rates impact entire non-hedged exposed balances. Note - FY21 Base Case non exposed balances are $10.5bn of which a 25bps movement in floating rates equates to $26.25m.

2 Assumes exposed yield is maintained on increased or decreased balances.

If interest rates were 25 basis points higher in FY21, Margin Income and Management EBIT would have been $26.25m higher.
If interest rates were 25 basis points lower and exposed balances were 10% lower in FY21, Margin Income would have been $33.1m lower at $73.9m.
If interest rates were 25 basis points higher and exposed balances were 10% higher in FY21, Margin Income would have been $38.4m higher at $145.4m.
Sensitivities applied to legacy balances only and excludes CCT. CCT average balances for FY21 were $8.2bn.
If the CAD and GBP fx rate (relative to USD) was 10% weaker in FY21, Margin Income would have been $5m lower at $102m.
If the CAD and GBP fx rate (relative to USD) had been stronger by 10% in FY21, Margin Income would have been $5m higher at $112m.

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Debt Facility Maturity Profile and Composition – at 30 June 2021

Maturity Profile

Debt Composition of total facility limits

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Undrawn bank
1,000 facilities: $1,051m • As at FY21, debt composition
was weighted towards bank 14%
facilities.
900
• Capital markets issuances will
800 increase the weighted average
maturity of the debt portfolio,
401.3 and increase overall funding $2,865m 51%
700 diversification.
35%
• Capital markets debt will align
600
Computershare more closely
with peers.
500 550.0
400
100.0
423.7
300
200 220.0
350.0
100 220.0 200.0
99.6 117.0
-
FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32
SLS non-recourse advance facilities drawn Capital Markets (USPP) Drawn Bank Debt Undrawn Bank Debt
$m
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Note: Average debt facility maturity was 2.7 years as at 30 June 2021. Excludes undrawn SLS advance facilities. Total debt drawn – 61% fixed and 39% floating.

36 * Total drawn debt at 30 June 2021 was $1,630.2m: 74% USD and 26% GBP.

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Balance Sheet

Balance Sheet
At actual rates		1H19	FY19	1H20	FY20	1H21	FY21
		Dec	Jun	Dec	Jun	Dec	Jun
Current Assets	USD M	1,407.8	1,501.1	1,468.4	1,432.0	1,491.1	1,718.7
Non Current Assets	USD M	3,111.2	3,183.9	3,448.7	3,557.8	3,663.6	3,533.2
Total Assets	USD M	4,518.9	4,685.0	4,917.1	4,989.7	5,154.7	5,251.9
Current Liabilities	USD M	740.7	701.1	834.6	1,024.6	837.3	995.7
Non Current Liabilities	USD M	2,304.1	2,409.8	2,520.2	2,374.8	2,689.7	1,976.6
Total Liabilities	USD M	3,044.8	3,110.9	3,354.8	3,399.4	3,527.0	2,972.3
Total Equity	USD M	1,474.1	1,574.1	1,562.3	1,590.3	1,627.7	2,279.6

Net debt includingnon-recourse SLS Advance debt *	USD M	1,478.0	1,475.0	1,549.1	1,432.5	1,561.6	893.2
Net debt to EBITDA ratio	Times	2.24	2.19	2.28	2.22	2.66	1.42
Net debt excludingnon-recourse SLS Advance debt *	USD M	1,244.9	1,241.4	1,340.1	1,244.9	1,316.6	673.7
Net debt to EBITDA ratio excludingnon-recourse SLS Advance debt	Times	1.88	1.84	1.97	1.93	2.24	1.07
EBITDA Interest Coverage ratio	Times	10.2	10.1	9.3	9.7	10.1	11.5

ROE1	%	27.1%	26.4%	22.8%	19.5%	16.8%	16.0%
ROIC2	%	14.9%	14.8%	13.5%	12.2%	10.1%	10.7%

Effective Dec 2019 (1H20), Net debt excludes lease liabilities ($7.7m as at Jun 19). 1 Return on equity (ROE) = rolling 12 month Mgt NPAT/rolling 12 mth avg Total Equity. 2 Return on invested capital (ROIC) = (Mgt EBITDA less depreciation & amortisation less income tax expense)/(net debt + total equity).

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Cash flow summary

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USD M (at actual rates) 1H19 FY19 1H20 FY20 1H21 FY21
Net operating receipts and payments 268.1 585.2 312.2 688.1 238.9 543.6
Net interest and dividends -35.1 -68.1 -33.3 -50.4 -38.2 -75.3
Income taxes paid -56.4 -105.5 -28.6 -43.3 -76.6 -92.9
Net operating cash flows excluding SLS advances 176.6 411.6 250.3 594.4 124.1 375.4
Cash outlay on business capital expenditure -33.6 -55.6 -14.0 -24.0 -8.0 -16.3
Net cash outlay on MSR purchases – Maintenance1 -20.4 -43.1 -29.7 -64.5 -45.1 -99.0
Free cash flow excluding SLS advances 122.6 312.9 206.6 505.9 71.0 260.1
SLS advance funding requirements2 -6.6 -27.2 -41.5 -29.3 -2.7 -27.5
Cash flow post SLS advance funding2 116.0 285.7 165.1 476.6 68.3 232.6
Investing cash flows
Net cash outlay on MSR purchases – Investments 1 -25.3 -57.3 -109.6 -120.5 -20.8 -24.6
Acquisitions (net of cash acquired) -438.3 -445.2 -6.8 -159.1 -7.5 -21.8
Disposal of Euroclear Holding SA/NV 12.1
Disposal of Karvy 77.2 75.7
Other -14.9 -17.4 4.6 4.2 12.7 2.3
Total investing cash flows -401.3 -444.2 -111.8 -275.4 -15.6 -32.0
Net operating and investing cash flows -285.3 -158.5 53.3 201.2 52.7 200.6
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1 Maintenance MSR capex assumed to be equivalent to the amortisation charge for the period. FY21 reflects a change in the amortisation period for interest rate-sensitive MSRs from 9 to 8 years for US Mortgage Services.

2 Net operating and financing cash flows.

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Exchanges rates

Currency	1H19	FY19	1H20	FY20	1H21	FY21
USD	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000
AUD	1.3734	1.3933	1.4623	1.4889	1.3971	1.3464
HKD	7.8371	7.8405	7.8321	7.7999	7.7504	7.7550
NZD	1.4893	1.4874	1.5504	1.5683	1.4975	1.4428
INR	70.6855	70.4260	70.4405	71.9578	74.2471	73.7286
CAD	1.3117	1.3252	1.3203	1.3391	1.3315	1.2921
GBP	0.7707	0.7716	0.7993	0.7931	0.7711	0.7461
EUR	0.8645	0.8746	0.8999	0.9030	0.8529	0.8397
RAND	14.0136	14.1190	14.7507	15.5385	16.5396	15.5863
RUB	65.1752	65.5333	64.2928	66.6767	75.2164	75.0158
AED	3.6729	3.6729	3.6729	3.6729	3.6730	3.6730
DKK	6.4466	6.5256	6.7192	6.7424	6.3501	6.2480
SEK	8.9924	9.1332	9.6044	9.6389	8.8445	8.6095
CHF	0.9870	0.9937	0.9888	0.9782	0.9174	0.9109

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Important notice

Summary information

This announcement contains summary information about Computershare and its activities current as at the date of this announcement.
This announcement is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire Computershare’s shares or other securities. It has been prepared without taking into account the objectives, financial situation or needs of a particular investor or a potential investor. Before making an investment decision, a prospective investor should consider the appropriateness of this information having regard to his or her own objectives, financial situation and needs and seek specialist professional advice.

Financial data

Management results are used, along with other measures, to assess operating business performance. The company believes that exclusion of certain items permits better analysis of the Group’s performance on a comparative basis and provides a better measure of underlying operating performance.
Management adjustments are made on the same basis as in prior years.
The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with Australian Auditing Standards.
All amounts are in United States dollars, unless otherwise stated.

Past performance

Computershare’s past performance, including past share price performance and financial information given in this announcement is given for illustrative purposes only and does not give an indication or guarantee of future performance.

Future performance and forward-looking statements

This announcement may contain forward-looking statements regarding Computershare’s intent, belief or current expectations with respect to Computershare’s business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices.
When used in this announcement, the words ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘should’, ‘could’, ‘objectives’, ‘outlook’, ‘guidance’ and similar expressions, are intended to identify forward-looking statements. Indications of, and guidance on, plans, strategies, management objectives, sales, future earnings and financial performance are also forward-looking statements.
Forward-looking statements are provided as a general guide only and should not be relied upon as a guarantee of future performance. They involve known and unknown risks, uncertainties, contingencies, assumptions and other important factors that are outside the control of Computershare.
Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumptions on which these statements are based. Computershare makes no representation or undertaking that it will update or revise such statements.

Disclaimer

No representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Computershare or its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence.

Not intended for foreign recipients

No part of this announcement is intended for recipients outside Australia. Accordingly, recipients represent and warrant that they are able to receive this announcement without contravention of any applicable legal or regulatory restrictions in the jurisdiction in which they reside or conduct business.

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AI assistant

COMPUTERSHARE LIMITED. — Annual Report 2021

64696_rns_2021-12-13_0b5fe37b-8569-47d6-a0c0-31ca12efa182.pdf

MARKET ANNOUNCEMENT

For further information contact:

Making Computershare more transparent and easier to model

Table of Contents

FY21 Management results – constant currency and actual rates

Revenue, Margin Income, EBITDA and EBIT – constant currency

High quality core industrial drives consistent operating performance

Key Financial Indicators

Computershare Profit & Loss

Summary – Revenue and Margin Income

USD M (at actual rates)

Summary – EBITDA

USD M (at actual rates)

Summary – EBIT

USD M (at actual rates)

Issuer Services Profit & Loss

Mortgage Services & Property Rental Services Profit & Loss

Employee Share Plans & Voucher Services Profit & Loss

Business Services Profit & Loss

Communication Services & Utilities Profit & Loss

Corporate & Technology Profit & Loss

Employee Share Plans Profit & Loss

UK Mortgage Services Profit & Loss

US Mortgage Services Profit & Loss

Revenue definitions

US Mortgage Services - UPB and number of loans

Key Definitions

US Mortgage Services - Invested Capital

FY21 Revenue by Business Unit and Geography

FY21 Revenue by Country (USD and Local Currency)

Revenue, EBITDA and EBIT by Region

USD M (at actual rates)

Revenue excluding acquisitions and disposals

Statutory results

USD M (at actual rates)

Management adjustment items

Other expenditure

USD M (at actual rates)

Breakdown of average client balances

Average exposed balances prior to hedging

Breakdown of Margin Income

Exposed and non-exposed average balances by business

Profile of our swap and fixed rate deposit book and floating rate deposits

Key sensitivities on FY21 Margin Income (excluding CCT)

Debt Facility Maturity Profile and Composition – at 30 June 2021

Maturity Profile

Debt Composition of total facility limits

Balance Sheet

Cash flow summary

Exchanges rates

Important notice

Summary information

Financial data

Past performance

Future performance and forward-looking statements

Disclaimer

Not intended for foreign recipients

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COMPUTERSHARE LIMITED. Annual Report 2021