COMPUTERSHARE LIMITED. - Annual Report 2023

FY23 Results

Record results, Management EPS +89% versus pcp

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Management Revenue
$3.3bn
Up 27.2%
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Management EPS
109.7 cps
Up 89.3%
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Margin Income (MI) $792.1m Up 323.4%

Return on Invested Capital (ROIC) 22.7% Up 1,050bps

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Management EBIT ex. MI Final dividend per share (AUD)
$258.4m 40 cps [1]
Down 24.9% Up 33% [2]
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Notes: All figures in this presentation are presented in USD millions and in constant currency, unless otherwise stated.

1 Unfranked; Total dividend per share for FY23 is AUD 70 cps (FY22 AUD 54 cps); 2 Compared to FY22 final dividend per share of AUD 30.0 cents per share (cps).

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Computershare’s integrated business model

Portfolio of recurring core fees, cyclical and transaction based revenues and margin income provides strong earnings growth

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Total Revenue and EBIT Margin Vs. PCP
3,500 3,304 35.0%
3,000 30.0%
2,597
2,500 2,301 2,357 2,281 2,323 25.0%
1,765
2,000 20.0%
1,549
1,348 1,328 1,278 1,285 +13.9%
1,500 15.0%
747
1,000 10.0%
-13.3%
774 782 804 931 861
500 5.0%
792
0 180 246 199 107 187 +323% 0.0%
FY18 FY19 FY20 FY21 FY22 FY23
@ CC
Margin Income Event and Transactional fee revenue Core fee revenue EBIT Margin %
USD M
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Financial Performance AUD
25.0% 180
22.7%
160
161
20.0%
17.7% 140
16.7%
120
15.0%
12.2% 12.2% 100
98 10.9%
80
10.0% 82 83 80
68 70 60
54
40
5.0% 44 46 46
40
20
0.0% 0
FY18 FY19 FY20 FY21 FY22 FY23
Dividend per share (AU cents) ROIC (%) Mgt EPS (AU cps)
ROIC
AU cents
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Revenue definitions – see slide 43 for detail

› Event based businesses include Corporate Actions, Stakeholder Relationship Management, Bankruptcy and Class Actions
› Transactional revenue fees are inclusive of Registry Maintenance (holder/broker paid), Plans transactional fees, US Mortgage Servicing (servicing related fees and other fees).
› Core fee revenues are inclusive of Register Maintenance (Issuer paid), Governance Services, UK and US Mortgage Servicing (base servicing), Plans & Vouchers (excluding Plans transactional), Corporate Trust including CCT, CCS & Utilities and Corporate and Technology Revenue. FY18 and FY19 includes Karvy; FY22 includes 8 months of CCT, FY23 includes 10 months of Bankruptcy & Class Actions

Numbers translated at actual fx rates with the exception of FY23 which is translated at the FY22 YTD average fx rate.

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FY23 overview

Performing through market uncertainty

Higher rates drove record levels of MI

› MI increased to $792m, new high for the Group
› Recapture rate in excess of 90% across all our key banking partners by year end achieved
› Counterparty deposit policy protected balances through US banking sector uncertainty
› Executing plan to lock in $1.5bn of MI (the majority to be received over the next 5 years). $1.2bn secured, additional $0.3bn to be executed in FY24

Higher rates also impacted transaction and event revenues and costs

› Global IPO market volumes down, with flow on impact to Registry Core fee revenue

› Lower event and transaction fees materially impacted earnings, recovery emerging in 2H

› Average client balances declined in the 2H due to lower bond issuance not offsetting run off

› Inflationary pressures impacted earnings, with BAU opex up over 5% vs. pcp and net interest expense up 131%

Stronger 2H EBIT ex MI performance

› 2H EBIT ex MI, up 70% compared to 1H. Includes seasonality

› Core fee revenues increased 4% in 2H22 vs. pcp

› Employee Plans Trading performing ahead of plan, up 17% on 2H22

› CCT integration on track and synergy plan re-affirmed

› US Mortgage Services back to profit. Evaluating strategic options

› Inflationary pressures moderating and further cost-out programs under consideration

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FY23 Management results summary

89% uplift in earnings

	FY23 Actual (at FY22 CC)	FY23 Actual
Total revenue ex Margin Income	$2,511.6 $2,410.3 +4.2%	$2,440.5
Margin Income	$792.1 $187.1 +323.4%	$775.4
Total revenue	$3,303.7 $2,597.4 +27.2%	$3,215.9
Operating costs	$2,066.8 $1,877.7 +10.1%	$1,999.9
Share of net profit/(loss) of associates and jv	$0.3 $0.5 -40.0%	$0.3
EBITDA	$1,237.2 $720.2 +71.8%	$1,216.3
Depreciation	$78.7 $71.0 +10.8% $108.0 $118.1 -8.6%	$75.9 $107.9
Amortisation
EBIT	$1,050.5 $531.1 +97.8%	$1,032.5
EBIT ex Margin Income	$258.4 $344.0 -24.9%	$257.1
EBIT margin (%) Interest expense	31.8% 20.4% +1,140bps $138.7 $60.0 +131.2%	32.1% $133.8
Profit Before Tax	$911.8 $471.0 +93.6%	$898.7
Income tax expense	$249.4 $121.1 +105.9%	$246.7
Management NPAT	$662.4 $349.9 +89.3%	$652.1
Management EPS (cents)	109.72 57.95 +89.3%	108.01
Management ETR	27.4% 25.7% +170bps	27.4%

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FY22 to FY23 Management EPS

Higher earnings driven by margin income, growth in core fees and cost out benefits

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15.4 2.6
5.5 8.6
109.7
71.1
10.6
14.0
58.0
FY22 Management Core fee revenue Event and Margin Income Impact Cost out benefits CCT annualisation Interest expense FY23 Management
EPS Transactional fee of inflation inc. CCT synergies 1 and Tax EPS
USD cps
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Event and Transactional fee revenue

1 Includes Stage 4 (US Mortgage Services) cost out benefit of 2.8cps and CCT synergies of 0.85cps.

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FY24 Outlook

Management EPS expected to be up around 7.5%

Guidance

› In constant currency, for FY24 we expect:
Management EPS to be up around 7.5%, to around 116 cps[1]

FY24 key sensitivities

› Margin income sensitivity including quantum and mix of client balances – see slide 9
› Corporate Actions and other event based revenues

Key Assumptions

› Transaction fee income across Registry, Employee Share Plans and Mortgage Services
› Margin Income revenue to be around $840m. Please refer to slide 8 for interest rate and balance assumptions
› Equity markets in line with current market conditions
› Group tax rate to be between 26.0% - 28.0%
› For constant currency comparisons, FY23 average exchange rates are used to translate the FY24 earnings to USD[2]
› Weighted average number of shares (WANOS) unchanged at 603,729,336 – no benefit from share buyback assumed

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Notes:[1 ] For comparative purposes FY23 Management EPS is 108.01 cents per share in FY23 constant currency.[2] Refer to slide 57 for constant currency conversion rates.

Margin Income and Average Client Balances

FY24 MI guidance now $840m, yields improving and FY23 exit balances expected to be stable

	FY23A Avg Client Balances ($bn)	FY23A Avg Weighted Yield (%)	FY23A MI ($m)	FY24E Avg Client Balances ($bn)	FY24E Avg Weighted Yield (%)	FY24E MI Outlook ($m)
Exposed: Non-hedged	14.4	3.17%	457	8.8	5.13%	452
Exposed: Hedged	8.0	2.69%	217	9.7	2.83%	275
Exposed	22.5	3.00%	674	18.5	3.93%	727
Non-Exposed	11.5	0.88%	101	11.3	1.00%	113
Total	34.0	2.28%	775	29.8	2.82%	840

Arrows above indicate comparison of Margin Income yields against previous ASX disclosures of 2[nd] May 2023 (Avg. Balances at 31[st] March 23)*.

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Margin Income by Exposure (%)
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46%
41%
41%
52% 62%
59% 54%
71%
59% 48% 29% 38%
FY19 FY20 FY21 FY22 FY23 FY24E
Variable Margin Income "Locked in" Margin Income
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Margin Income Bridge ($m) Average Client Balances Bridge ($bn)
FY24
average
17 25 48 138 34.0 1.0 assumed balances
1.0 at FY23
0.3 exit
balances
31.7 1.0 levels
840
792 775 0.9
29.8
FY23A at Net Impact FY23A at Class Actions and Est. Net Impact Est. Net Impact of FY24E at FY23 Class Actions CCT Corporate 2nd May CCT SPAC FY23 exit
FY22 FX Rates of FX FY23 FX Rates Bankruptcy of Client Balance Rate Changes FY23 FX Rates Avg Balances and Actions disclosure balances
Disposal Changes Bankruptcy
Disposal
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For sensitivity on FY24 guidance, please refer to slide 9.
“Locked in” margin income is income from the fixed leg of the swaps, fixed term deposits, plus non-exposed margin income.
The primary driver of FY24E net margin income change from 2[nd] May 2023 disclosure of $860m to current FY24E margin income of $840m is the FX retranslation, from FY22 FX rates to FY23 FX rates.
On 1 May 2023, the Group disposed of the Class Actions and Bankruptcy business, which was based in North America and formed part of the Business Services segment.

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Key sensitivities on FY24 Margin Income

$1bn change in exposed non-hedged balances translates to around $50m PBT impact

Earnings Sensitivity – Average Balances -$1bn Balances FY24 Guidance +$1bn Balances 788.8 840.0 891.2

Balance sensitivity assumes annual impact on non-hedged exposed balances.

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Earnings Sensitivity – Interest Rates
-25 bps FY24 Guidance +25 bps
818.0 840.0 862.0
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Interest rate sensitivity assumes annual rate impact on non-hedged exposed balances.
If balances move by $1bn (+/-) in FY24, the delta to Margin Income is around $51m per annum vs FY24 Estimate. This assumes increase is only on exposed, non-hedged balances.
If interest rates move by 25 bps (+/-) in FY24, the delta to Margin Income is around $22m per annum vs. FY24 Estimate. This assumes movements in short term floating rates impact entire non-hedged exposed balances and no impact to payout rates or other factors.

	Cash rate assumptions for FY24	Cash rate assumptions for FY24	Cash rate assumptions for FY24	guidance
	FY24 Q1	FY24 Q2	FY24 Q3	FY24 Q4	Full Year
USD	5.31%	5.38%	5.30%	5.01%	5.25%
AUD	4.10%	4.17%	4.23%	4.21%	4.18%
GBP	5.14%	5.50%	5.64%	5.63%	5.48%
CAD	4.98%	5.11%	5.15%	5.10%	5.09%
Weighted Avg	5.21%	5.30%	5.24%	5.00%	5.19%

Quarterly average of daily market implied rates. Source: Bloomberg – World Interest Rate Probability at 10th August 2023

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Hedge book updates

$1.2bn of MI “locked in” over the life of the book with plan to increase to around $1.5bn in FY24

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Average Hedge Book as a % of Average Exposed
12 Balances FY19 to FY24E
Target “locked in” MI 50%
$1.5bn 9 36%
FY24 ~end bal. $9.7-10.3bn 6
Est WAL: 5 years
30% 16%
Est Yield: 2.85-3.25% 24% 23%
3
Ending -
hedge FY19 FY20 FY21 FY22 FY23 FY24E
book
Avg. Swaps Avg. Fixed Rate TDs Avg Hedged
expected
to deliver
~$280- Current Hedge Book Maturity Schedule
330m of
MI in 2,500
FY25
2,000
1,500
Estimated ending
book
1,000
500
-
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Calendar Year Fixed Deposits Swaps
($bn)
Balances ($m)
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Incremental quarterly hedges to deliver ~ $75m of margin income over the life of the hedges. Quarterly Total “locked in” MI hedges estimated to have a WAL of 5-7 years and $200$1.2bn 300m in balances. FY24 begin bal. $8.9bn WAL: 4.7 years Yield: 2.75%

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FY23 Average hedge Average hedges for book Existing Hedges FY24 expected to deliver hedge protected expected to book will 36% of cover 50% ~$280330m of deliver average of average MI in ~$250m exposed exposed FY25 in FY24 balances balances Existing book FY24 Q1 hedges FY24 Q2 hedges FY24 Q3 hedges FY24 Q4 hedges Estimated ending book

FY19 through FY23 translated at actual rates. FY24E and beyond are translated at the FY23 June average FX rate.
WAL is the Weighted Average Life of the hedge book.
Existing hedge book margin income is certain assuming total balances stay above hedge book levels, there are no counterparty failures, and CPU does not amend or cancel any hedges.
Ending hedge book and incremental hedged MI are based on forward rate curves and are subject to market conditions at the time of booking.
Hedged Margin Income is provided for indicative purposes and forms part of MI key assumptions.

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Issuer Services

Margin income and Governance Services growth offsets decline in market based revenues

Management EBIT		Revenue breakdown Register Maintenance	FY23 CC $684.2	FY22 Actual $675.0	CC Variance +1.4%
$384.0m	Up 45.6%	Corporate Actions Stakeholder Relationship Management	$89.8 $54.9	$111.0 $59.6	-19.1% -7.9%
Margin		Governance Services	$92.6	$85.5	+8.3%
34.1%	Up 720bps	Margin Income Total revenue	$205.1 $1,126.6	$48.4 $979.5	+323.8% +15.0%
		Mgmt EBITDA	$386.8	$266.6	+45.1%
		Mgmt EBITDA margin	34.3%	27.2%	Up 710bps

FY23 highlights

Issuer Services Revenue ($m)

Issuer paid fees higher with positive 1 renewals and net new client wins

Strong growth in Governance Services, 2 adding scale and building product suite.

Event and Transactions Fee revenue 3 impacted by macro environment, e.g. global IPO volume (down >30%).

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1,127 1,200
976 999 980 Vs. PCP
949
895 1,000
571
800
501 481 546 555 Ability to optimise fee
475 +2.9%
600 revenue and margin
income across client
350 400
396 355 341 409 376 -6.9% base to enhance
200 earnings
205
80 112 79 44 48 +324%0
FY18 FY19 FY20 FY21 FY22 FY23 @ CC
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Margin income Event and Transactional fee revenue Core fee revenue

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11 Note Corporate Actions reflects a reclass of revenue previously classified as Governance Services

Computershare Corporate Trust (CCT)

Margin income a highlight of impressive broader results; integration and synergies remain on track

$166.2m Management EBIT $440.8m	Up 42.4% Up 411.4%	Revenue breakdown Trust Fee and other revenue MMF Fee Revenue Margin Income	FY23 CC $430.9 $44.6 $372.4	FY22 Actual $260.5 $20.0 $55.5	CC Variance +65% +123% +571%
31.5% Margin 52.0% Margin	Up 630bps Up 2,640bps	Total revenue Mgmt EBITDA Mgmt EBITDA margin	$847.9 $451.4 53.2%	$336.0 $89.8 26.7%	+152% +403% Up 2,650 bps
FY23 highlights		Corporate Trust Fees($m)	CCT Cost SynergyP	lan – Cumulative	Benefits($m)

Corporate Trust Fees ($m)

CCT Cost Synergy Plan – Cumulative Benefits ($m)

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100
80
72
52
50
26
17 16
10 7
0
8 Mths FY23 FY24 FY25 FY26 FY27
FY22 Actual Planned
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CAGR 5.2%

Strong growth in earnings 1 despite weaker bond issuance not offsetting run off

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400
389
364
349
335
321 318 324
284
241
FY14 FY15 FY16 FY17 FY18 FY19 FYFY FY21 FY22 FY23
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Integration plan on track with 2 transition services agreement set to finish 1[st] November

Synergy initiatives set to 3 accelerate post technology separation

Forecast execution expenses of c. $230m to transition (Spend to date $117.8m), integrate and transform the business, incurred over the first five years of ownership. Approximately 75% of this expense to be incurred in the two-year TSA period.

CCT acquisition completed on 1[st] November 2021. FY22 includes 8 months contribution.

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Employee Share Plans

Record earnings driven by recovery in transactional revenue in 2H

Management EBIT

$166.2m Up 42.4% $104.1m Up 37.5% Margin Margin 31.5%28.5% Up 540bpsUp 630bps

Revenue breakdown	FY23 @ CC	FY22 Actual	CC Variance
Fee revenue	$153.8	$151.5	+1.5%
Transactional revenue	$163.7	$159.5	+2.6%
Other revenue	$15.6	$12.9	+20.9%
Margin income	$31.8	$4.1	+675.6%
Total revenue	$364.9	$328.0	11.3%
Mgmt EBITDA	$109.1	$81.0	34.7%
Mgmt EBITDA margin	29.9%	24.7%	+520bps

FY23 highlights

Revenue excluding Margin Income ($m)

Outstanding shares and options under administration

Transactional volumes very strong in 1 2H. $218bn of AUA highlights latent earnings potential

The EquatePlus upgrades continue. 2 First North American clients successfully completed

Ongoing digitisation of offering with 3 New Mobile App receiving positive user feedback. Trust Pilot rating 4.6 stars out of 5

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350 324 333
317
300 279
250
200
160 160 164 157 164 169
150
150 129
100
50
0
Transactional fee Core fee revenue Total Revenue ex MI
revenue
FY20 FY21 FY22 FY23 @ CC
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300 AuA Units 35.0
30.0
250
25.0
200
20.0
150
15.0
100
10.0
50
5.0
0 0.0
AuA ($bn)
Shares/Options/Units (Bn)
FY19Q2 FY19Q3 FY19Q4 FY20Q1 FY20Q2 FY20Q3 FY20Q4 FY21Q1 FY21Q2 FY21Q3 FY21Q4 FY22Q1 FY22Q2 FY22Q3 FY22Q4 FY23Q1 FY23Q2 FY23Q3 FY23Q4
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Value of outstanding shares/options/units under administration up 9% YoY to 218bn

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Mortgage Services

2H return to profitability in US; UK operations stable and profitable

Management EBIT[2] Up 171.4% $4.5m $166.2m Up 42.4% Margin Margin 31.5%0.9% Up 210bpsUp 630bps

Revenue breakdown US Mortgage Services	FY23 CC $351.0	FY22 Actual $422.8	CC Variance -17.0%
US Mortgage Services Margin Income UK Mortgage Services Total revenue	$52.6 $113.8 $517.3	$3.3 $115.4 $541.5	+1,493.9% -1.4% -4.5%
Mgmt EBITDA1	$109.8	$108.1	+1.6%
Mgmt EBITDA margin	21.2%	20.0%	+120bps

FY23 highlights

Portfolio analysis – shift to sub-servicing driving portfolio growth

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Sub-servicing UPB increased $24bn
portfolio (up 36%) vs June22
UPB recycled into
$4.6 Billion
sub-servicing
19% of sub-servicing growth
4Q MSR sales helped reduced
Invested capital invested capital by over $100m
in 2H
Fair Market Value aligned with
Value of MSR
IFRS Book Value. Amortisation
portfolio
reverted to 9 years from 1 [st]
January 2023
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160
140
120
100
80
60
40
20
0
Owned UPB ($B) Subservicing UPB ($B)
UPB ($B)
Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun-22 Dec-22 Jun-23
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US result impacted by lower refinancing 1 volumes and weaker originations. 2H driven by lower opex, higher MI and longer MSR asset life.

Cost-out program launched to support 2H 2 return to profitability in US. $23m of savings in FY23 (run-rate savings over $50m).

Evaluating strategic options in US. UK disposal 3 discussions continue in conjunction with assessment of strategic alternatives.

1 UK Mortgage Services EBITDA $7.7m in FY23 and $7.8m in FY22. 2 FY23 UK Mortgages EBIT $8.2m, US Mortgages EBIT ($3.7m), margin -0.9%.

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Business Services

Strong return to growth in Canadian Corporate Trust; sale of Bankruptcy and Class Actions completed

Management EBIT

$93.6m Up 131.2% $166.2m Up 42.4%

Margin Margin 44.0%31.5% Up 2070bpsUp 630bps

Revenue breakdown Corporate Trust1	FY23 CC $56.9	FY22 Actual $53.4	CC Variance 6.6%
Bankruptcy Class Actions	$21.0 $51.5	$26.8 $58.5	-21.6% -12.0%
Margin Income1 Total revenue Mgmt EBITDA*	$83.1 $212.4 $94.8	$30.6 $169.3 $41.0	171.6% 25.5% 131.2%
Mgmt EBITDA margin	44.6%	24.2%	2040bps

1 To be reported under Global Corporate Trust from 1H24. * FY23 includes 10 months of Bankruptcy and Class Actions business.

FY23 highlights

Strong performance in Canadian 1 Corporate Trust driven partly by increasing margin income

Increased automation to improve 2 client experience and increase efficiencies

Sale of Bankruptcy and Class 3 Actions businesses completed May 1, 2023. FY23 average balances of $1bn.

Revenue excluding Margin Income ($m)

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200 187
181
180
160
139
140 133 125 129
120
100 85
72
80
55 56 53 57
60
40
20
0
Event Fees Core fee revenue Total Revenue ex MI
FY20 FY21 FY22 FY23 @ CC
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Canadian Corporate Trust, positive long-term trends

Value of Debt under Administration

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2,500 10- year CAGR 3.3%
2,000
1,500
1,000
500
-
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
$CAN Bn
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FY23 Operating expense analysis Inflation drives BAU Opex up 5.6%, moderating in 2H to 5.0%

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2,500
2,000
2,066.8
BAU Opex +5.6% 381.7
1,877.7
398.9
123.5
0.5 44.0 1,685.1
1,500 127.4
1,561.7
1,478.2
Wage $90.0m,
1,000
Vendor $30.8m
T&E $6.6m
500
0
FY22 total Less FY22 Less FY22 FY22 operating Cost out Impact of BAU cost base CCT FY23 operating Add FY23 FY23 total
operating costs cost of sales one off costs expenses program savings inflation annualisation expenses cost of sales operating costs
(inc. CCT
1
synergies)
USD M
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1 Cost out program savings of $37.9m of which $37.0m is operating expense and $0.9m cost of sales. CCT synergies $7.0m.

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Cash flow and leverage

Strong balance sheet facilitates increased dividend, share buyback and scope for M&A

Cashflow Waterfall

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$166.2m Up 42.4%
Margin
623.6
Free cash flow
31.5% Up 630bps
$511.1m
304.4
36.8
-41.9 -70.6 -243.5
Net operating Capex Net MSR Net acquisitions Dividends Net cash flow
cash flow spend and disposals
(ex SLS
advances)
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Balance Sheet Capacity

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$2.5bn of
1.40 capacity by end 3,000
FY24
1.20
2,500
1.00
2,000
0.80
1,500
0.60
1,000
0.40
500
0.20
0.00 0
1H23 A 2H23 A 1H24 E 2H24 E
M&A Firepower Leverage ratio excluding non-recourse SLS Advance debt
$m
Net Debt / EBITDA (x)
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*Net cash payments for MSR purchases of $70.6m in FY23 (purchases of $168.2m and sales of $97.6m).

FY23 net debt calculation of $1,029.9m - 100% floating rate debt.

Scenario assumes 5% EBITDA growth in FY24 vs. pcp. Excludes impact of share buyback.

Free cash flow includes management adjusted expense.

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FY24 priorities – building a simpler Computershare with higher quality earnings

$166.2m Up 42.4% Complete systems transition in November 2023 and continue to deliver integration synergies at CCT Margin

31.5%

Up 630bps

Finalise evaluation of strategic opportunities for US Mortgage Services

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Hedge up to 50% of exposed balances in FY24 – to lock in c.$1.5bn of total MI, with the majority to be released over the next five years

Execute AUD 750m share buyback to enhance shareholder returns

Continue to roll out market leading technologies to drive future organic growth, including deployment of EquatePlus platform in North America

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Appendices

1. Constant currency analysis

2. Analysis at actual fx rates

Key Financial Indicators
Computershare Profit and Loss
Group summary by Business Segment
Business Segment Profit and Loss
Employee Share Plans Profit and Loss
UK and US Mortgage Services Profit and Loss, including UPB and number of loans
US Mortgage Services - Invested capital
Regional and Country split of Revenue
Revenue, EBITDA and EBIT by Region
Revenue excluding acquisitions and disposals
Cost out Programs
Statutory results and management adjustments
Other expenditure
Client balances and Margin Income
Profile of our swap and fixed rate deposit book and floating rate deposits
Margin Income sensitivity analysis
Debt Facility Maturity Profile
Balance Sheet
Cash Flow
Exchange Rates

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FY23 Management results – constant currency and actual rates

USD M		At CC	At Actual fx
Total Revenue ex MI		2,511.6	2,440.5
Margin Income		792.1	775.4
Total Management Revenue		3,303.7	3,215.9
$166.2m Operating expenditure	Up 42.4%	2,066.8	1,999.9
Margin Share of net profit/(loss) of associates and jv		0.3	0.3
31.5% Management EBITDA	Up 630bps	1,237.2	1,216.3
Depreciation		78.7	75.9
Amortisation		108.0	107.9
Depreciation & Amortisation		186.7	183.8
Management EBIT		1,050.5	1,032.5
Management EBIT ex MI		258.4	257.1
Management EBIT Margin		32%	32%
Management EBIT ex MI Margin		10%	11%
Interest Expense		138.7	133.8
Management PBT		911.8	898.7
Management Income Tax Expense		249.4	246.7
OEI		0.0	0.0
Management NPAT		662.4	652.1
Management EPS (cps)		109.72	108.01

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Revenue Margin Income
At CC At Actual fx At CC At Actual fx
Issuer Services 1,126.6 1,090.2 205.1 198.4
Mortgage Services & Property Rental Services 565.1 548.8 99.6 94.9
Employee Share Plans & Voucher Services 370.5 351.7 31.9 29.0
Business Services 212.4 206.1 83.1 80.7
Communication Services & Utilities 176.6 166.9 0.0 0.0
Corporate & Technology 4.6 4.2 0.0 0.0
Computershare Corporate Trust 847.9 847.9 372.4 372.4
Total 3,303.7 3,215.9 792.1 775.4
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EBITDA EBIT
At CC At Actual fx At CC At Actual fx
Issuer Services 386.8 375.9 384.0 373.2
Mortgage Services & Property Rental Services 132.4 129.4 27.0 23.9
Employee Share Plans & Voucher Services 115.0 107.4 109.9 102.5
Business Services 94.8 90.6 93.6 89.4
Communication Services & Utilities 25.7 24.8 21.1 20.4
Corporate & Technology 31.1 36.0 -25.9 -18.5
Computershare Corporate Trust 451.4 452.2 440.8 441.6
Total 1,237.2 1,216.3 1,050.5 1,032.5
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CC = Constant Currency. FY23 numbers have been translated to USD at FY22 average fx rates.

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Revenue, Margin Income, EBITDA and EBIT – constant currency

	Revenue		FY22	FY23	FY23 v 22
	Issuer Services Mortgage Services & PropertyRental Services Employee Share Plans & Voucher Services		979.5 587.2 340.0	1,126.6 565.1 370.5	15.0% -3.8% 9.0%
	Business Services		169.3	212.4	25.5%
	Communication Services & Utilities		180.6	176.6	-2.2%
	Corporate & Technology		4.8	4.6	-4.2%
$1~~66.2m~~ Computershare Corporate Trust Total Revenue		~~Up 42.4%~~	336.0 2,597.4	847.9 3,303.7	152.4% 27.2%
Margin	Margin Income Issuer Services		FY22 48.4	FY23 205.1	FY23 v 22 323.8%
31~~.5%~~ ~~Up 630bps~~ Mortgage Services & PropertyRental Services Employee Share Plans & Voucher Services Business Services			48.4 4.2 30.6	99.6 31.9 83.1	105.8% 659.5% 171.6%
	Communication Services & Utilities		0.0	0.0	0.0%
	Corporate & Technology		0.0	0.0	0.0%
	Computershare Corporate Trust		55.5	372.4	571.0%
	Total Margin Income		187.1	792.1	323.4%
	EBITDA		FY22	FY23	FY23 v 22
	Issuer Services		266.6	386.8	45.1%
	Mortgage Services & PropertyRental Services		139.6	132.4	-5.2%
	Employee Share Plans & Voucher Business Services	Services	89.8 41.0	115.0 94.8	28.1% 131.2%
	Communication Services & Utilities		33.9	25.7	-24.2%
	Corporate & Technology		59.5	31.1	-47.7%
	Computershare Corporate Trust		89.8	451.4	402.7%
	Total EBITDA		720.2	1,237.2	71.8%
	EBIT Issuer Services		FY22 263.7	FY23 384.0	FY23 v 22 45.6%
	Mortgage Services & PropertyRental Services		25.2	27.0	7.1%
	Employee Share Plans & Voucher	Services	84.5	109.9	30.1%
	Business Services		39.5	93.6	137.0%
	Communication Services & Utilities		29.3	21.1	-28.0%
	Corporate & Technology		2.8	-25.9	1025.0%
	Computershare Corporate Trust		86.2	440.8	411.4%
	Total EBIT		531.1	1,050.5	97.8%

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CEU ANZ
3% 7% Asia
UCIA
4%
17%
Canada Revenue
7%
$3,303.7m
USA
62%
CEU ANZ
2% 2%
Asia
UCIA 4%
13%
Canada
10%
EBITDA
$1,237.2m
USA
69%
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FY23 numbers have been translated to USD at FY22 average fx rates.

1H23 to 2H23 Management EPS Bridge

Margin income and CCT drive earnings growth

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3.5 0.9
7.8
10.8 0.4 64.6
7.8
4.8
0.7
45.1
1H23 Sale of Bankruptcy & Seasonality Operational Margin Income US Mortgage Services CCT synergies Impact of inflation Interest and tax 2H23
Management EPS Class Actions earnings growth return to profitability Management EPS
(ex MI)
USD cps
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Sale of Bankruptcy & Class Actions business completed on 1[st] May 2023. Numbers have been translated to USD at FY22 average fx rates.

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FY23 to FY24 Guidance Management EPS Bridge

Management EPS growth of around 7.5%

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7.4 10.1
10.9 4.1
116.0
6.7
2.8
108.0
FY23 Management KCC Disposal Fee Revenue Margin Income Cost out & synergies Impact Interest expense FY24 Management
EPS of inflation and Tax EPS
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Note: EPS breakdown is provided for indicative purposes and forms part of EPS key assumptions. Numbers have been translated to USD at FY23 average fx rates.

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ACTUAL FX RATE ANALYSIS

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CCT acquisition driving increase in FY23 recurring revenue

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5,000 35%
32.1%
4,000 $166.2m 25.7% Up 42.4%
25.0%
24.7% 24.4% 24.1%
25%
Margin 22.8%
21.8%
20.4% 3,216
31.5% Up 630bps
19.2%
3,000 494
2,597
2,301 2,357 2,281 2,323 15%
504
2,114
2,023
1,976 1,974 542
2,000 529 509 560
465
506 454 474
2,722
5%
1,000 2,094
1,772 1,815 1,772 1,762
1,649
1,517 1,522 1,500
0 -5%
FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
Recurring Non recurring EBIT Margin
USD M
Total Revenue
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Key Financial Indicators

	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23
Total Management Revenue Operating expenditure	1,127.8 1,228.7 1,124.3 1,156.9 1,102.5 1,220.3 1,171.5 1,425.8 1,510.6 1,705.3 795.4 885.3 787.8 847.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4
Management EBITDA	331.4	343.4	336.6	309.7	277.7	350.5	314.4	405.9	540.3	676.1
Management EBIT	291.3	298.8	265.9	232.2	190.8	255.3	221.4	309.6	440.7	591.8
Management EBIT ex Margin Income	166.1	177.5	149.9	148.8	135.2	203.8	159.3	184.7	96.5	160.6
$166.2m Up 42.4% EBIT Margin % 25.8% 24.3% 23.6% 20.1% 17.3% 20.9% 18.9% 21.7% 29.2% 34.7% EBIT ex MI Margin % 16.6% 16.0% 14.9% 13.9% 12.9% 17.4% 14.4% 14.2% 8.3% 12.6% Management Profit Before Tax 258.8 264.6 229.7 202.0 163.1 228.0 194.2 276.8 387.0 511.7
~~Marin~~ Management NPAT	189.9	191.5	157.0	146.9	117.9	165.9	139.5	210.4	268.9	383.1
~~g~~ Management EPS (US cps)	34.97	35.27	28.96	26.61	21.58	29.13	23.10	34.85	44.55	63.46
~~315%~~ ~~Up 630~~ Management EPS (AU cps)	~~bps~~ 48.03	49.84	42.35	40.39	30.44	37.83	31.47	48.24	66.35	94.27
~~.~~ Statutory NPAT	259.4	156.4	124.7	108.0	72.6	116.4	92.1	135.6	177.1	267.7
Statutory EPS (US cps)	47.77	28.80	23.00	19.55	13.28	20.49	15.25	22.46	29.33	44.34
Revenue split - Recurring 76% 78% 78% 77% 76% 76% 79% 82% 83% 85% Revenue split - Non Recurring 24% 22% 22% 23% 24% 24% 21% 18% 17% 15%
Weighted average number of shares1 542,955,868 542,955,868 541,956,213 546,780,636 546,234,027 559,519,258 603,729,336 603,729,336 603,729,336 603,729,336
Net operating cash flows excluding SLS advances 176.6 235.0 250.3 344.1 124.1 251.3 203.3 235.1 247.5 376.2 Operating cash to EBITDA conversion ratio 0.5 0.7 0.7 1.1 0.4 0.7 0.6 0.6 0.5 0.6 Days Sales Outstanding 65 60 61 58 57 53 50 51 53 39 Dividend(AU cents) 21 23 23 23 23 23 24 30 30 40 Franking(%) 30% 30% 30% 30% 100% 60% 40% 0% 0% 0% Dividend payout ratio 44% 47% 54% 58% 76% 59% 76% 62% 45% 42% ROE2 26.5% 26.2% 23.0% 19.2% 16.6% 14.7% 15.9% 15.6% 22.3% 30.1% ROIC2 16.3% 16.7% 13.8% 12.2% 10.2% 10.9% 10.4% 12.2% 15.5% 22.7% Net debt to EBITDA3 1.88 1.84 1.97 1.93 2.24 1.07 2.02 1.64 1.33 0.85

1 Weighted average number of ordinary shares used as denominator in calculating basic earnings per share as at December (1H) or June (FY). The 2H EPS is the difference between FY and 1H EPS. 2 As at Dec (1H) and June (2H).

3 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 Feb 20), Verbatim LLC (1st Jul 20), Wells Fargo Corporate Trust Services (1st Nov 21), SunDoc Filings (1st Jun 2023).

Notable divestments: Karvy – 50% interest (17th Nov 18), Milestone – 20% interest (1st Oct 21), Private Capital Solutions client accounts in Canada (31st Dec 21), Kurtzman Carson Consultants (1st May 23), KCC Class Action Services (1st May 23), Data Point Analysis Group (1st May 23), Gilardi & Co. (1st May 23), Settlement Recovery Group (1st May 23), RicePoint Administration (1st May 23), CMC Funding (3rd May 23).

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Computershare Profit & Loss

$166.2m Up 42.4% 31.5% Up 630bps Margin USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Total Revenue ex MI 1,046.9 1,168.9 1,109.4 1,300.9 1,166.5 1,274.0 Margin Income 55.5 51.5 62.1 125.0 344.1 431.3 Total Management Revenue 1,102.5 1,220.3 1,171.5 1,425.8 1,510.6 1,705.3 Operating expenditure 825.1 869.9 857.4 1,020.3 970.5 1,029.4 Share of net profit/(loss) of associates and jv 0.4 0.0 0.2 0.3 0.1 0.2 Management EBITDA 277.7 350.5 314.4 405.9 540.3 676.1 Depreciation 38.3 36.8 34.3 36.7 35.8 40.1 Amortisation 48.7 58.4 58.6 59.5 63.8 44.1 Depreciation & Amortisation 87.0 95.2 92.9 96.2 99.6 84.2 Management EBIT 190.8 255.3 221.4 309.6 440.7 591.8 Management EBIT ex MI 135.2 203.8 159.3 184.7 96.5 160.6 Management EBIT Margin 17.3% 20.9% 18.9% 21.7% 29.2% 34.7% Management EBIT ex MI Margin 12.9% 17.4% 14.4% 14.2% 8.3% 12.6% Interest Expense 27.6 27.2 27.2 32.8 53.7 80.2 Management PBT 163.1 228.0 194.2 276.8 387.0 511.7 Management Income Tax Expense 45.3 61.9 54.7 66.4 117.8 128.9 OEI 0.1 -0.3 -0.1 0.0 -0.3 0.3 Management NPAT 117.9 165.9 139.5 210.4 268.9 383.1 Management Adjustments (after tax)1 Amortisation -21.4 -21.3 -20.4 -43.0 -35.1 -35.6 Acquisitions and Disposals -4.7 -19.8 -20.4 -24.7 -30.0 -55.6 Other -19.2 -8.3 -6.6 -7.1 -26.8 -24.3 Total Management Adjustments -45.3 -49.4 -47.4 -74.8 -91.9 -115.5 Statutory NPAT 72.6 116.4 92.1 135.6 177.1 267.7 Management EPS (cps) 21.58 29.13 23.10 34.85 44.55 63.46 Statutory EPS (cps) 13.28 20.49 15.25 22.46 29.33 44.34 Mgt ETR 27.8% 27.1% 28.2% 24.0% 30.4% 25.2% Stat ETR 30.5% 29.6% 29.9% 23.8% 32.6% 24.6%	FY21 FY22 FY23
	2,215.8 2,410.3 2,440.5 107.0 187.1 775.4 2,322.8 2,597.4 3,215.9 1,695.0 1,877.7 1,999.9 0.4 0.5 0.3 628.2 720.2 1,216.3 75.0 71.0 75.9 107.1 118.1 107.9 182.2 189.1 183.8
	446.1 531.1 1,032.5
	339.1 344.0 257.1 19.2% 20.4% 32.1% 15.3% 14.3% 10.5%
	54.9 60.0 133.8
	391.2 471.0 898.7
	107.2 121.1 246.7 -0.2 -0.1 0.0
	283.7 349.9 652.1
	-42.7 -63.4 -70.7 -24.5 -45.1 -85.6 -27.5 -13.7 -51.1
	-94.8 -122.2 -207.3
	189.0 227.7 444.7

	50.71 57.95 108.01 33.77 37.71 73.67
	27.4% 25.7% 27.4%
	30.0% 26.4% 28.0%

1 Refer to slide 50 for detail on management adjustments.

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Summary – Revenue and Margin Income

USD M (at actual rates)

Revenue		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		465.0	534.3	463.0	516.5	506.7	583.6	999.3	979.5	1,090.2
Mortgage Services & Property Rental Services		297.8	311.2	294.4	292.8	266.2	282.6	609.0	587.2	548.8
Employee Share Plans & Voucher Services		143.0	190.0	163.4	176.6	148.8	202.9	333.0	340.0	351.7
Business Services		114.4	95.7	84.9	84.4	117.3	88.8	210.2	169.3	206.1
~~$166.2m~~ Communication Services & Utilities Corporate & Technology	~~Up 42.4%~~	81.4 0.9	88.3 0.7	84.5 4.6	96.1 0.2	80.9 1.3	86.0 2.9	169.7 1.7	180.6 4.8	166.9 4.2
~~Margin~~ Computershare Corporate Trust		0.0	0.0	76.7	259.2	389.4	458.5	0.0	336.0	847.9
~~31.5%~~ Total Revenue	Up 630bps	1,102.5	1,220.3	1,171.5	1,425.8	1,510.6	1,705.3	2,322.8	2,597.4	3,215.9
Margin Income		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		22.1	22.1	18.3	30.1	82.1	116.3	44.2	48.4	198.4
Mortgage Services & Property Rental Services		15.5	13.8	23.1	25.3	39.9	55.0	29.3	48.4	94.9
Employee Share Plans & Voucher Services		2.3	1.9	1.2	2.9	9.4	19.7	4.2	4.2	29.0
Business Services		15.7	13.7	12.0	18.6	49.3	31.4	29.4	30.6	80.7
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	7.5	48.0	163.4	208.9	0.0	55.5	372.4
Total Margin Income		55.5	51.5	62.1	125.0	344.1	431.3	107.0	187.1	775.4
Revenue excluding Margin Income		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		442.9	512.2	444.7	486.4	424.6	467.3	955.1	931.1	891.8
Mortgage Services & Property Rental Services		282.2	297.4	271.3	267.5	226.3	227.6	579.7	538.8	453.9
Employee Share Plans & Voucher Services		140.7	188.1	162.2	173.7	139.4	183.3	328.9	335.9	322.7
Business Services		98.7	82.0	72.9	65.8	68.0	57.4	180.8	138.7	125.4
Communication Services & Utilities		81.4	88.3	84.5	96.1	80.9	86.0	169.7	180.6	166.9
Corporate & Technology		0.9	0.7	4.6	0.2	1.3	2.9	1.7	4.8	4.2
Computershare Corporate Trust		0.0	0.0	69.3	211.2	226.0	249.5	0.0	280.4	475.5
Total Revenue excluding Margin Income		1,046.9	1,168.9	1,109.4	1,300.9	1,166.5	1,274.0	2,215.8	2,410.3	2,440.5

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Summary – EBITDA

USD M (at actual rates)

USD M (at actual rates)
EBITDA		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		127.9	151.4	118.1	148.5	163.0	212.9	279.3	266.6	375.9
Mortgage Services & Property Rental Services		53.6	61.2	71.3	68.3	52.2	77.1	114.8	139.6	129.4
Employee Share Plans & Voucher Services		23.9	63.7	40.4	49.4	31.6	75.8	87.6	89.8	107.4
Business Services		29.5	23.4	20.1	20.9	53.5	37.1	52.9	41.0	90.6
~~$166.2m~~ Communication Services & Utilities Corporate & Technology	~~Up 42.4%~~	10.9 31.9	19.9 30.9	13.2 41.7	20.8 17.8	7.8 28.7	17.0 7.4	30.8 62.8	33.9 59.5	24.8 36.0
Margin Computershare Corporate Trust		0.0	0.0	9.5	80.3	203.5	248.7	0.0	89.8	452.2
~~31.5%~~ Total EBITDA	~~Up 630bps~~	277.7	350.5	314.4	405.9	540.3	676.1	628.2	720.2	1,216.3
EBITDA excluding Margin Income		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		105.8	129.3	99.9	118.3	80.9	96.6	235.1	218.2	177.5
Mortgage Services & Property Rental Services		38.1	47.4	48.1	43.0	12.3	22.2	85.5	91.2	34.5
Employee Share Plans & Voucher Services		21.6	61.8	39.2	46.5	22.3	56.1	83.4	85.7	78.4
Business Services		13.8	9.7	8.1	2.3	4.2	5.7	23.5	10.4	9.9
Communication Services & Utilities		10.9	19.9	13.2	20.8	7.8	17.0	30.8	33.9	24.8
Corporate & Technology		31.9	30.9	41.7	17.8	28.7	7.4	62.8	59.5	36.0
Computershare Corporate Trust		0.0	0.0	2.0	32.3	40.1	39.8	0.0	34.3	79.8
Total EBITDA excluding Margin Income		222.2	299.0	252.2	280.9	196.1	244.8	521.2	533.1	440.9

EBITDA excluding Margin Income Margin	1H21 2H21 1H22 2H22 1H23 2H23 23.9% 25.2% 22.5% 24.3% 19.0% 20.7% 13.5% 15.9% 17.7% 16.1% 5.4% 9.7% 15.4% 32.9% 24.2% 26.8% 16.0% 30.6% 14.0% 11.8% 11.2% 3.5% 6.1% 10.0% 13.4% 22.5% 15.6% 21.6% 9.7% 19.8% n/a n/a n/a n/a n/a n/a 0.0 0.0 3.0% 15.3% 17.7% 15.9% 21.2% 25.6% 22.7% 21.6% 16.8% 19.2%	1H21 2H21 1H22 2H22 1H23 2H23 23.9% 25.2% 22.5% 24.3% 19.0% 20.7% 13.5% 15.9% 17.7% 16.1% 5.4% 9.7% 15.4% 32.9% 24.2% 26.8% 16.0% 30.6% 14.0% 11.8% 11.2% 3.5% 6.1% 10.0% 13.4% 22.5% 15.6% 21.6% 9.7% 19.8% n/a n/a n/a n/a n/a n/a 0.0 0.0 3.0% 15.3% 17.7% 15.9% 21.2% 25.6% 22.7% 21.6% 16.8% 19.2%	1H21 2H21 1H22 2H22 1H23 2H23 23.9% 25.2% 22.5% 24.3% 19.0% 20.7% 13.5% 15.9% 17.7% 16.1% 5.4% 9.7% 15.4% 32.9% 24.2% 26.8% 16.0% 30.6% 14.0% 11.8% 11.2% 3.5% 6.1% 10.0% 13.4% 22.5% 15.6% 21.6% 9.7% 19.8% n/a n/a n/a n/a n/a n/a 0.0 0.0 3.0% 15.3% 17.7% 15.9% 21.2% 25.6% 22.7% 21.6% 16.8% 19.2%	1H21 2H21 1H22 2H22 1H23 2H23 23.9% 25.2% 22.5% 24.3% 19.0% 20.7% 13.5% 15.9% 17.7% 16.1% 5.4% 9.7% 15.4% 32.9% 24.2% 26.8% 16.0% 30.6% 14.0% 11.8% 11.2% 3.5% 6.1% 10.0% 13.4% 22.5% 15.6% 21.6% 9.7% 19.8% n/a n/a n/a n/a n/a n/a 0.0 0.0 3.0% 15.3% 17.7% 15.9% 21.2% 25.6% 22.7% 21.6% 16.8% 19.2%	1H21 2H21 1H22 2H22 1H23 2H23 23.9% 25.2% 22.5% 24.3% 19.0% 20.7% 13.5% 15.9% 17.7% 16.1% 5.4% 9.7% 15.4% 32.9% 24.2% 26.8% 16.0% 30.6% 14.0% 11.8% 11.2% 3.5% 6.1% 10.0% 13.4% 22.5% 15.6% 21.6% 9.7% 19.8% n/a n/a n/a n/a n/a n/a 0.0 0.0 3.0% 15.3% 17.7% 15.9% 21.2% 25.6% 22.7% 21.6% 16.8% 19.2%	1H21 2H21 1H22 2H22 1H23 2H23 23.9% 25.2% 22.5% 24.3% 19.0% 20.7% 13.5% 15.9% 17.7% 16.1% 5.4% 9.7% 15.4% 32.9% 24.2% 26.8% 16.0% 30.6% 14.0% 11.8% 11.2% 3.5% 6.1% 10.0% 13.4% 22.5% 15.6% 21.6% 9.7% 19.8% n/a n/a n/a n/a n/a n/a 0.0 0.0 3.0% 15.3% 17.7% 15.9% 21.2% 25.6% 22.7% 21.6% 16.8% 19.2%	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23
Issuer Services	23.9%	25.2%	22.5%	24.3%	19.0%	20.7%	24.6%	23.4%	19.9%
Mortgage Services & Property Rental Services	13.5%	15.9%	17.7%	16.1%	5.4%	9.7%	14.8%	16.9%	7.6%
Employee Share Plans & Voucher Services	15.4%	32.9%	24.2%	26.8%	16.0%	30.6%	25.4%	25.5%	24.3%
Business Services	14.0%	11.8%	11.2%	3.5%	6.1%	10.0%	13.0%	7.5%	7.9%
Communication Services & Utilities	13.4%	22.5%	15.6%	21.6%	9.7%	19.8%	18.2%	18.8%	14.9%
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	3.0%	15.3%	17.7%	15.9%	0.0	12.2%	16.8%
Total EBITDA excluding Margin Income Margin	21.2%	25.6%	22.7%	21.6%	16.8%	19.2%	23.5%	22.1%	18.1%

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Summary – EBIT

USD M (at actual rates)

EBIT		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		126.2	150.0	116.7	146.9	161.7	211.5	276.2	263.7	373.2
Mortgage Services & Property Rental Services		5.3	4.7	14.3	10.9	-9.6	33.5	10.0	25.2	23.9
Employee Share Plans & Voucher Services		21.2	60.9	37.7	46.8	28.9	73.6	82.1	84.5	102.5
Business Services		28.6	22.5	19.3	20.1	52.8	36.7	51.1	39.5	89.4
~~$166.2m~~ Communication Services & Utilities Corporate & Technology	~~Up 42.4%~~	8.6 0.9	17.4 -0.2	10.8 13.5	18.5 -10.7	5.6 2.0	14.8 -20.5	26.0 0.7	29.3 2.8	20.4 -18.5
Margin Computershare Corporate Trust		0.0	0.0	9.1	77.1	199.3	242.3	0.0	86.2	441.6
~~31.5%~~ Total EBIT	Up 630~~b~~ps	190.8	255.3	221.4	309.6	440.7	591.8	446.1	531.1	1,032.5
EBIT excluding Margin Income		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		104.1	127.9	98.5	116.8	79.6	95.2	232.0	215.2	174.8
Mortgage Services & Property Rental Services		-10.2	-9.1	-8.8	-14.4	-49.5	-21.4	-19.3	-23.2	-71.0
Employee Share Plans & Voucher Services		18.9	59.0	36.4	43.9	19.6	53.9	77.9	80.3	73.5
Business Services		12.9	8.8	7.3	1.5	3.5	5.2	21.7	8.9	8.7
Communication Services & Utilities		8.6	17.4	10.8	18.5	5.6	14.8	26.0	29.3	20.4
Corporate & Technology		0.9	-0.2	13.5	-10.7	2.0	-20.5	0.7	2.8	-18.5
Computershare Corporate Trust		0.0	0.0	1.6	29.0	35.9	33.4	0.0	30.7	69.3
Total EBIT excluding Margin Income		135.2	203.8	159.3	184.7	96.5	160.6	339.1	344.0	257.1
EBIT excluding Margin Income Margin		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Issuer Services		23.5%	25.0%	22.1%	24.0%	18.7%	20.4%	24.3%	23.1%	19.6%
Mortgage Services & Property Rental Services		-3.6%	-3.0%	-3.3%	-5.4%	-21.9%	-9.4%	-3.3%	-4.3%	-15.6%
Employee Share Plans & Voucher Services		13.5%	31.4%	22.5%	25.3%	14.0%	29.4%	23.7%	23.9%	22.8%
Business Services		13.1%	10.7%	10.1%	2.3%	5.1%	9.1%	12.0%	6.4%	6.9%
Communication Services & Utilities		10.6%	19.7%	12.7%	19.3%	6.9%	17.2%	15.3%	16.2%	12.2%
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	2.3%	13.7%	15.9%	13.4%	0.0	10.9%	14.6%
Total EBIT excluding Margin Income Margin		12.9%	17.4%	14.4%	14.2%	8.3%	12.6%	15.3%	14.3%	10.5%

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Issuer Services Profit & Loss

USD M (at actual rates)	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	Up 42.4% Up 630bps 1H21 2H21 1H22 2H22 1H23 2H23 306.4 357.5 322.1 352.9 306.7 354.7 69.0 66.5 55.4 55.7 43.7 42.5 35.5 51.2 26.5 33.1 23.6 29.4 32.0 37.0 40.8 44.8 50.5 40.6 442.9 512.2 444.7 486.4 424.6 467.3 22.1 22.1 18.3 30.1 82.1 116.3 465.0 534.3 463.0 516.5 506.7 583.6 337.6 383.3 345.1 368.4 343.8 370.8 0.6 0.4 0.2 0.3 0.1 0.1 127.9 151.4 118.1 148.5 163.0 212.9 1.7 1.4 1.4 1.5 1.3 1.4 0.0 0.0 0.0 0.0 0.0 0.0 1.7 1.4 1.4 1.5 1.3 1.4 126.2 150.0 116.7 146.9 161.7 211.5 104.1 127.9 98.5 116.8 79.6 95.2 27.1% 28.1% 25.2% 28.4% 31.9% 36.2% 23.5% 25.0% 22.1% 24.0% 18.7% 20.4%	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23

Register Maintenance	306.4	357.5	322.1	352.9		306.7	354.7	663.9	675.0	661.5
Corporate Actions	69.0	66.5	55.4	55.7		43.7	42.5	135.5	111.0	86.2
Stakeholder RelationshipManagement	35.5	51.2	26.5	33.1		23.6	29.4	86.7	59.6	53.0
Governance Services	32.0	37.0	40.8	44.8		50.5	40.6	69.0	85.5	91.1
$166.2m 31.5% Margin 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								955.1 931.1 891.8 44.2 48.4 198.4 999.3 979.5 1,090.2 720.9 713.5 714.6 0.9 0.5 0.2 279.3 266.6 375.9 3.1 2.9 2.7 0.0 0.0 0.0 3.1 2.9 2.7
Management EBIT								276.2 263.7 373.2
Management EBIT ex MI EBIT Margin EBIT ex MI Margin								232.0 215.2 174.8 27.6% 26.9% 34.2% 25.0% 23.1% 19.6%
Register Maintenance revenue breakdown
Issuerpaid	219.1	258.4	219.4	250.0		208.8	251.2	477.5	469.5	460.0
Holder/Brokerpaid	87.3	99.1	102.7	102.8		97.9	103.5	186.4	205.5	201.5
Register Maintenance MI	11.4	9.4	8.2	1	4.0	41.8	63.8	20.9	22.2	105.6
Total Register Maintenance	317.8	366.9	330.3	36	6.8	348.5	418.5	684.8	697.2	767.0

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Canada ANZ Canada ANZ
10% 11% 9% 12%
Asia
7% Asia
8%
FY23 FY22
revenue UCIA revenue
12% UCIA
$1,090.2m $979.5m 11%
CEU
5% CEU
USA USA 6%
55% 54%
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Global managed shareholder accounts (millions)

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

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Mortgage Services & Property Rental Services Profit & Loss


							it & Loss
$166.2m Up 42.4% 31.5% Up 630bps Margin USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Total Revenue ex MI 282.2 297.4 271.3 267.5 226.3 227.6 Margin Income 15.5 13.8 23.1 25.3 39.9 55.0 Total Management Revenue 297.8 311.2 294.4 292.8 266.2 282.6 Operating expenditure 244.2 250.0 223.1 224.5 214.0 205.5 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 53.6 61.2 71.3 68.3 52.2 77.1 Depreciation 2.1 1.9 1.6 0.8 1.0 1.6 Amortisation 46.2 54.6 55.4 56.6 60.8 42.0 Depreciation & Amortisation 48.3 56.5 57.0 57.4 61.8 43.6 Management EBIT 5.3 4.7 14.3 10.9 -9.6 33.5 Management EBIT ex MI -10.2 -9.1 -8.8 -14.4 -49.5 -21.4 EBIT Margin 1.8% 1.5% 4.9% 3.7% -3.6% 11.9% EBIT ex MI Margin -3.6% -3.0% -3.3% -5.4% -21.9% -9.4% Mortgage Services revenue breakdown Base ServicingFees 107.9 101.6 94.1 89.0 91.5 98.4 Servicingrelated fees 29.8 49.4 26.4 31.5 23.5 24.2 Other service fees 75.4 82.3 92.3 89.5 61.2 52.5 US Mortgage Services MI 2.1 1.7 1.2 2.1 22.5 30.1 US Mortgage Services Revenue 215.2 235.0 214.0 212.1 198.6 205.1 UK Mortgage Services Revenue 68.7 63.8 58.2 57.2 49.8 52.5							FY21 FY2		2 FY23
							579.7 538 29.3 48 609.0 587 494.2 447 0.0 0 114.8 139 4.0 2 100.8 112 104.8 114		.8 453.9 .4 94.9 .2 548.8 .7 419.5 .0 0.0
									.6 129.4 .4 2.6 .0 102.8 .4 105.4
Management EBIT							10.0 25		.2 23.9
Management EBIT ex MI EBIT Margin EBIT ex MI Margin							-19.3 -23 1.6% 4.3 -3.3% -4.3		.2 -71.0 % 4.4% % -15.6%
Mortgage Services revenue breakdown
Base ServicingFees	107.9	101.6	94.1	89.0	91.5	98.4	209.5	183	.2	189.9
Servicingrelated fees	29.8	49.4	26.4	31.5	23.5	24.2	79.2	57	.9	47.6
Other service fees	75.4	82.3	92.3	89.5	61.2	52.5	157.7	181	.8	113.6
US Mortgage Services MI	2.1	1.7	1.2	2.1	22.5	30.1	3.7	3	.3	52.6
US Mortgage Services Revenue	215.2	235.0	214.0	212.1	198.6	205.1	450.1	426	.1	403.8

UK Mortgage Services Revenue	68.7	63.8	58.2	57.2	49.8	52.5	132.5	115	.4	102.3
							ities, together wit

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UCIA
26%
FY23
revenue
$548.8m
USA
74%
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UCIA
27%
FY22
revenue
$587.2m
USA
73%
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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

Employee Share Pl	ans & Voucher Services Profit & L 1H21 2H21 1H22 2H22 1H23 2H23 134.4 182.5 156.6 167.3 136.3 181.4 6.3 5.7 5.6 6.4 3.1 1.8 2.3 1.9 1.2 2.9 9.4 19.7 143.0 190.0 163.4 176.6 148.8 202.9 119.1 126.3 123.0 127.2 117.2 127.1 0.0 0.0 0.0 0.0 0.0 0.0 23.9 63.7 40.4 49.4 31.6 75.8 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.9 1.8 1.8 1.9 1.7 2.7 2.8 2.7 2.6 2.7 2.2 21.2 60.9 37.7 46.8 28.9 73.6 18.9 59.0 36.4 43.9 19.6 53.9 14.8% 32.0% 23.1% 26.5% 19.4% 36.3% 14.1% 32.3% 23.3% 26.2% 14.4% 29.7% 69.8 74.8 75.0 76.5 71.4 75.9 58.7 101.2 74.6 84.9 59.3 96.2 5.9 6.4 7.0 5.9 5.6 9.3 2.3 1.9 1.2 2.9 9.3 19.6 136.7 184.4 157.8 170.2 145.6 201.0	ans & Voucher Services Profit & L 1H21 2H21 1H22 2H22 1H23 2H23 134.4 182.5 156.6 167.3 136.3 181.4 6.3 5.7 5.6 6.4 3.1 1.8 2.3 1.9 1.2 2.9 9.4 19.7 143.0 190.0 163.4 176.6 148.8 202.9 119.1 126.3 123.0 127.2 117.2 127.1 0.0 0.0 0.0 0.0 0.0 0.0 23.9 63.7 40.4 49.4 31.6 75.8 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.9 1.8 1.8 1.9 1.7 2.7 2.8 2.7 2.6 2.7 2.2 21.2 60.9 37.7 46.8 28.9 73.6 18.9 59.0 36.4 43.9 19.6 53.9 14.8% 32.0% 23.1% 26.5% 19.4% 36.3% 14.1% 32.3% 23.3% 26.2% 14.4% 29.7% 69.8 74.8 75.0 76.5 71.4 75.9 58.7 101.2 74.6 84.9 59.3 96.2 5.9 6.4 7.0 5.9 5.6 9.3 2.3 1.9 1.2 2.9 9.3 19.6 136.7 184.4 157.8 170.2 145.6 201.0	ans & Voucher Services Profit & L 1H21 2H21 1H22 2H22 1H23 2H23 134.4 182.5 156.6 167.3 136.3 181.4 6.3 5.7 5.6 6.4 3.1 1.8 2.3 1.9 1.2 2.9 9.4 19.7 143.0 190.0 163.4 176.6 148.8 202.9 119.1 126.3 123.0 127.2 117.2 127.1 0.0 0.0 0.0 0.0 0.0 0.0 23.9 63.7 40.4 49.4 31.6 75.8 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.9 1.8 1.8 1.9 1.7 2.7 2.8 2.7 2.6 2.7 2.2 21.2 60.9 37.7 46.8 28.9 73.6 18.9 59.0 36.4 43.9 19.6 53.9 14.8% 32.0% 23.1% 26.5% 19.4% 36.3% 14.1% 32.3% 23.3% 26.2% 14.4% 29.7% 69.8 74.8 75.0 76.5 71.4 75.9 58.7 101.2 74.6 84.9 59.3 96.2 5.9 6.4 7.0 5.9 5.6 9.3 2.3 1.9 1.2 2.9 9.3 19.6 136.7 184.4 157.8 170.2 145.6 201.0	ans & Voucher Services Profit & L 1H21 2H21 1H22 2H22 1H23 2H23 134.4 182.5 156.6 167.3 136.3 181.4 6.3 5.7 5.6 6.4 3.1 1.8 2.3 1.9 1.2 2.9 9.4 19.7 143.0 190.0 163.4 176.6 148.8 202.9 119.1 126.3 123.0 127.2 117.2 127.1 0.0 0.0 0.0 0.0 0.0 0.0 23.9 63.7 40.4 49.4 31.6 75.8 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.9 1.8 1.8 1.9 1.7 2.7 2.8 2.7 2.6 2.7 2.2 21.2 60.9 37.7 46.8 28.9 73.6 18.9 59.0 36.4 43.9 19.6 53.9 14.8% 32.0% 23.1% 26.5% 19.4% 36.3% 14.1% 32.3% 23.3% 26.2% 14.4% 29.7% 69.8 74.8 75.0 76.5 71.4 75.9 58.7 101.2 74.6 84.9 59.3 96.2 5.9 6.4 7.0 5.9 5.6 9.3 2.3 1.9 1.2 2.9 9.3 19.6 136.7 184.4 157.8 170.2 145.6 201.0	ans & Voucher Services Profit & L 1H21 2H21 1H22 2H22 1H23 2H23 134.4 182.5 156.6 167.3 136.3 181.4 6.3 5.7 5.6 6.4 3.1 1.8 2.3 1.9 1.2 2.9 9.4 19.7 143.0 190.0 163.4 176.6 148.8 202.9 119.1 126.3 123.0 127.2 117.2 127.1 0.0 0.0 0.0 0.0 0.0 0.0 23.9 63.7 40.4 49.4 31.6 75.8 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.9 1.8 1.8 1.9 1.7 2.7 2.8 2.7 2.6 2.7 2.2 21.2 60.9 37.7 46.8 28.9 73.6 18.9 59.0 36.4 43.9 19.6 53.9 14.8% 32.0% 23.1% 26.5% 19.4% 36.3% 14.1% 32.3% 23.3% 26.2% 14.4% 29.7% 69.8 74.8 75.0 76.5 71.4 75.9 58.7 101.2 74.6 84.9 59.3 96.2 5.9 6.4 7.0 5.9 5.6 9.3 2.3 1.9 1.2 2.9 9.3 19.6 136.7 184.4 157.8 170.2 145.6 201.0	ans & Voucher Services Profit & L 1H21 2H21 1H22 2H22 1H23 2H23 134.4 182.5 156.6 167.3 136.3 181.4 6.3 5.7 5.6 6.4 3.1 1.8 2.3 1.9 1.2 2.9 9.4 19.7 143.0 190.0 163.4 176.6 148.8 202.9 119.1 126.3 123.0 127.2 117.2 127.1 0.0 0.0 0.0 0.0 0.0 0.0 23.9 63.7 40.4 49.4 31.6 75.8 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.9 1.8 1.8 1.9 1.7 2.7 2.8 2.7 2.6 2.7 2.2 21.2 60.9 37.7 46.8 28.9 73.6 18.9 59.0 36.4 43.9 19.6 53.9 14.8% 32.0% 23.1% 26.5% 19.4% 36.3% 14.1% 32.3% 23.3% 26.2% 14.4% 29.7% 69.8 74.8 75.0 76.5 71.4 75.9 58.7 101.2 74.6 84.9 59.3 96.2 5.9 6.4 7.0 5.9 5.6 9.3 2.3 1.9 1.2 2.9 9.3 19.6 136.7 184.4 157.8 170.2 145.6 201.0	oss	oss	FY23 revenue $351.7m Y22 FY23 23.9 317.7 12.0 5.0 4.2 29.0 0.0 351.7 0.2 244.3 0.0 0.0 9.8 107.4 ANZ 4% Asia 12% UCIA CEU 2% USA 17% Canada 5%	FY23 revenue $351.7m Y22 FY23 23.9 317.7 12.0 5.0 4.2 29.0 0.0 351.7 0.2 244.3 0.0 0.0 9.8 107.4 ANZ 4% Asia 12% UCIA CEU 2% USA 17% Canada 5%
USD M (at actual rates)							FY21 F
Employee Share Plans Vouchers Margin Income Total Management Revenue Operating expenditure Share of net profit/(loss) of associates and jv Management EBITDA Depreciation Amortisation Depreciation & Amortisation							316.9 3 12.0 4.2 333.0 34 245.4 25 0.0 87.6 8 1.8 3.7 5.5
									1.7 1.4 3.6 3.6 5.4 4.9 60%
Management EBIT							82.1 8		ee share FY22 revenue $340.0m 4.5 102.5 0.3 73.5 8% 29.1% 8% 23.1% 51.5 147.3 59.5 155.5 12.9 14.9 4.1 28.9 8.0 346.7 ANZ 4% Asia 12% UCIA 59% CEU 3% USA 16% Canada 6%
Management EBIT ex MI EBIT Margin EBIT ex MI Margin							77.9 8 24.7% 24. 24.6% 24.
Employee Share Plans revenue breakdown
Fee revenue	69.8	74.8	75.0	76.5	71.4	75.9	144.6	1	51.5	147.3
Transactional revenue	58.7	101.2	74.6	84.9	59.3	96.2	159.9	1	59.5	155.5
Other revenue	5.9	6.4	7.0	5.9	5.6	9.3	12.4		12.9	14.9
Employee Share Plans MI	2.3	1.9	1.2	2.9	9.3	19.6	4.1		4.1	28.9
Employee Share Plans Revenue	136.7	184.4	157.8	170.2	145.6	201.0	321.0	32	8.0	346.7

Employee Share Plans & Voucher	Servicescomprise the provision of administration and related se						rvices for employ

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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Business Services Profit & Loss

UCIA 2%


~~$166.2m~~ Up 42.4% 31.5% Up 630bps Margin USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Corporate Trust 25.8 30.4 27.7 25.7 25.6 28.4 Bankruptcy 41.3 23.4 16.3 10.5 10.0 10.9 Class Actions 31.6 28.3 28.9 29.6 32.4 18.0 Karvy 0.0 0.0 0.0 0.0 0.0 0.0 Total Revenue ex MI 98.7 82.0 72.9 65.8 68.0 57.4 Margin Income 15.7 13.7 12.0 18.6 49.3 31.4 Total Management Revenue 114.4 95.7 84.9 84.4 117.3 88.8 Operating expenditure 84.9 72.3 64.8 63.5 63.9 51.7 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 29.5 23.4 20.1 20.9 53.5 37.1 Depreciation 0.4 0.4 0.2 0.1 0.1 0.1 Amortisation 0.5 0.5 0.6 0.6 0.6 0.4 Depreciation & Amortisation 0.9 0.9 0.8 0.7 0.7 0.5 Management EBIT 28.6 22.5 19.3 20.1 52.8 36.7 Management EBIT ex MI 12.9 8.8 7.3 1.5 3.5 5.2 EBIT Margin 25.0% 23.5% 22.8% 23.9% 45.0% 41.3% EBIT ex MI Margin 13.1% 10.7% 10.1% 2.3% 5.1% 9.1%	FY21 F	2% USA 52% Canada 46% FY23 revenue $206.1m Y22 FY23 53.4 54.0 26.8 21.0 58.5 50.4 0.0 0.0 38.7 125.4 30.6 80.7 69.3 206.1 28.2 115.5 0.0 0.0

	56.3	53.4	54.0
	64.6	26.8	21.0
	59.9	58.5	50.4
	0.0	0.0	0.0
	180.8 1 29.4 210.2 1 157.3 1 0.0 52.9 0.8 1.0 1.8
		41.0 90.6 0.3 0.2
		UCIA 6% Canada 42% FY22 revenue 1693 1.2 1.0 1.6 1.2 39.5 89.4 8.9 8.7 .3% 43.4% .4% 6.9%
	51.1
	21.7 24.3% 23 12.0% 6
	d the legacy co

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UCIA
6%
Canada
FY22
42%
revenue
$169.3m
USA
52%
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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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Communication Services & Utilities Profit & Loss

$166.2m Up 42.4% 31.5% Up 630bps Margin Communication Services & Utilities Profit & Loss USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Communication Services 77.9 83.6 80.1 91.9 77.2 81.7 Utilities 3.5 4.7 4.3 4.2 3.6 4.3 Margin Income 0.0 0.0 0.0 0.0 0.0 0.0 Total Management Revenue 81.4 88.3 84.5 96.1 80.9 86.0 Operating expenditure 70.5 68.4 71.3 75.3 73.0 69.0 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 10.9 19.9 13.2 20.8 7.8 17.0 Depreciation 2.3 2.5 2.4 2.2 2.2 2.2 Amortisation 0.0 0.0 0.0 0.0 0.0 0.0 Depreciation & Amortisation 2.3 2.5 2.4 2.2 2.2 2.2 Management EBIT 8.6 17.4 10.8 18.5 5.6 14.8 Management EBIT ex MI 8.6 17.4 10.8 18.5 5.6 14.8 EBIT Margin 10.6% 19.7% 12.7% 19.3% 6.9% 17.2%				ANZ 44% UCIA 6% CEU 15% USA 29% Canada 6% FY23 revenue $166.9m 22 FY23 2.0 158.9 8.5 8.0 0.0 0.0 .6 166.9 .6 142.0 0.0 0.0 .9 24.8	ANZ 44% UCIA 6% CEU 15% USA 29% Canada 6% FY23 revenue $166.9m 22 FY23 2.0 158.9 8.5 8.0 0.0 0.0 .6 166.9 .6 142.0 0.0 0.0 .9 24.8
	FY21 FY

	161.5	17		2.0	158.9
	8.2			8.5	8.0
			ANZ 46% UCIA 5% CEU 18% USA 23% Canada 8% ling, inbound FY22 revenue $180.6m 4.6 4.4 0.0 0.0 4.6 4.4 29.3 20.4 29.3 20.4 16.2% 12.2%	4.6 4.4 0.0 0.0
	26.0
	26.0 15.3%

Communication Services and Utilities operationscomprise document composition and printing, in process automation, scanning and electronic delivery.	telligent mai

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Corporate & Technology Profit & Loss

$166.2m Up 42.4% 31.5% Up 630bps Margin Corporate & Technology Profit & Loss IFRS16/AASB 16 (Leases) came into effect from 1st July 2019 (FY20). There is a favourable impact to EBITDA of $47.9m in FY20 an an adverse impact to Depreciation of $41.9m in FY20 and $43.1m in FY21. The credit against operating expenditure reflects the rech rental expense which is allocated out to our business lines, with the depreciation line in this P&L incorporating the expense associate USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Total Revenue ex MI 0.9 0.7 4.6 0.2 1.3 2.9 Margin Income 0.0 0.0 0.0 0.0 0.0 0.0 Total Management Revenue 0.9 0.7 4.6 0.2 1.3 2.9 Operating expenditure -31.2 -30.5 -37.1 -17.5 -27.3 -4.4 Share of net profit/(loss) of associates and jv -0.2 -0.3 0.0 0.0 0.0 0.1 Management EBITDA 31.9 30.9 41.7 17.8 28.7 7.4 Depreciation 30.9 29.7 27.4 28.0 26.3 27.9 Amortisation 0.2 1.4 0.8 0.5 0.4 0.0 Depreciation & Amortisation 31.1 31.1 28.2 28.4 26.7 27.9 Management EBIT 0.9 -0.2 13.5 -10.7 2.0 -20.5 Management EBIT ex MI 0.9 -0.2 13.5 -10.7 2.0 -20.5**		ANZ 17% Asia 1% UCIA 69% USA 2% Canada 11% FY23 revenue $4.2m Y22 FY23 4.8 4.2 0.0 0.0 4.8 4.2 54.6 -31.7 0.0 0.1 59.5 36.0 55.4 54.2	ANZ 17% Asia 1% UCIA 69% USA 2% Canada 11% FY23 revenue $4.2m Y22 FY23 4.8 4.2 0.0 0.0 4.8 4.2 54.6 -31.7 0.0 0.1 59.5 36.0 55.4 54.2
	FY21 F
	1.7 0.0 1.7 -61.7 - -0.6 62.8 60.6 1.6 62.2
			.4 54.2
		1 56	ANZ 4% Asia .2 0.4 .6 54.6
			1% UCIA 26% CEU 1% USA 68% onversely, Property erty leases. FY22 revenue $4.8m nformation and elated .8 -18.5 .8 -18.5
	0.7	2
	0.7	2
	d $49.3m in FY21 an arge of the Groupwid d with the Group’s pr	d c e op
Corporate & Technology includes shared servicefunctions including Risk, Internal Audit, People, Security and Corporate. Computershare allocates out all corporate expenses to our business lines. The Technology revenues reflect some third-party technology revenues, rental income, interest income and transaction income.	Facilities, Globa residual Corpor other corporate	l I ate r

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Computershare Corporate Trust


	FY21 FY22		FY23
	0.0 280.4 0.0 55.5 0.0 336.0 0.0 246.1 0.0 0.0 0.0 89.8 0.0 3.7 0.0 0.0 0.0 3.7		475.5 372.4 847.9 395.7 0.0
			452.2
			10.6
			0.0 10.6
	0.0 86.2		441.6
	0.0 30.7 0% 26%		69.3 52%

Computershare CorporateTrust comprises trust and agency services in connection with the admini the US.	stration of debt secu	ritie	s in

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FY23
revenue
$847.9m
USA
100%
FY22
revenue
$336.0m
USA
100%
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Employee Share Plans Profit & Loss

$166.2m Up 42.4% 31.5% Up 630bps Margin USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 FY21 FY22 FY23 Fee revenue 69.8 74.8 75.0 76.5 71.4 75.9 144.6 151.5 147.3 Transactional revenue 58.7 101.2 74.6 84.9 59.3 96.2 159.9 159.5 155.5 Other revenue 5.9 6.4 7.0 5.9 5.6 9.3 12.4 12.9 14.9 Margin Income 2.3 1.9 1.2 2.9 9.3 19.6 4.1 4.1 28.9 Total Management Revenue 136.7 184.4 157.8 170.2 145.6 201.0 321.0 328.0 346.7 Operating expenditure 117.4 124.7 121.4 125.6 116.9 127.6 242.1 247.0 244.5 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 19.3 59.6 36.5 44.5 28.7 73.4 78.9 81.0 102.2 Management EBITDA ex MI 17.1 57.7 35.2 41.6 19.4 53.8 74.8 76.9 73.3 EBITDA Margin 14% 32% 23% 26% 20% 37% 25% 25% 29% Depreciation 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.7 1.4 Amortisation 1.8 1.9 1.8 1.8 1.9 1.7 3.7 3.6 3.6 Depreciation & Amortisation 2.7 2.8 2.7 2.6 2.7 2.2 5.5 5.3 4.9 Management EBIT 16.6 56.8 33.7 41.9 26.0 71.2 73.4 75.7 97.2 Management EBIT ex MI 14.3 55.0 32.5 39.0 16.7 51.6 69.3 71.5 68.3 EBIT Margin 12.1% 30.8% 21.4% 24.6% 17.9% 35.4% 22.9% 23.1% 28.1% EBIT ex MI Margin 10.7% 30.1% 20.8% 23.3% 12.3% 28.4% 21.9% 22.1% 21.5%	$166.2m Up 42.4% 31.5% Up 630bps Margin USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 FY21 FY22 FY23 Fee revenue 69.8 74.8 75.0 76.5 71.4 75.9 144.6 151.5 147.3 Transactional revenue 58.7 101.2 74.6 84.9 59.3 96.2 159.9 159.5 155.5 Other revenue 5.9 6.4 7.0 5.9 5.6 9.3 12.4 12.9 14.9 Margin Income 2.3 1.9 1.2 2.9 9.3 19.6 4.1 4.1 28.9 Total Management Revenue 136.7 184.4 157.8 170.2 145.6 201.0 321.0 328.0 346.7 Operating expenditure 117.4 124.7 121.4 125.6 116.9 127.6 242.1 247.0 244.5 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 19.3 59.6 36.5 44.5 28.7 73.4 78.9 81.0 102.2 Management EBITDA ex MI 17.1 57.7 35.2 41.6 19.4 53.8 74.8 76.9 73.3 EBITDA Margin 14% 32% 23% 26% 20% 37% 25% 25% 29% Depreciation 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.7 1.4 Amortisation 1.8 1.9 1.8 1.8 1.9 1.7 3.7 3.6 3.6 Depreciation & Amortisation 2.7 2.8 2.7 2.6 2.7 2.2 5.5 5.3 4.9 Management EBIT 16.6 56.8 33.7 41.9 26.0 71.2 73.4 75.7 97.2 Management EBIT ex MI 14.3 55.0 32.5 39.0 16.7 51.6 69.3 71.5 68.3 EBIT Margin 12.1% 30.8% 21.4% 24.6% 17.9% 35.4% 22.9% 23.1% 28.1% EBIT ex MI Margin 10.7% 30.1% 20.8% 23.3% 12.3% 28.4% 21.9% 22.1% 21.5%	$166.2m Up 42.4% 31.5% Up 630bps Margin USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 FY21 FY22 FY23 Fee revenue 69.8 74.8 75.0 76.5 71.4 75.9 144.6 151.5 147.3 Transactional revenue 58.7 101.2 74.6 84.9 59.3 96.2 159.9 159.5 155.5 Other revenue 5.9 6.4 7.0 5.9 5.6 9.3 12.4 12.9 14.9 Margin Income 2.3 1.9 1.2 2.9 9.3 19.6 4.1 4.1 28.9 Total Management Revenue 136.7 184.4 157.8 170.2 145.6 201.0 321.0 328.0 346.7 Operating expenditure 117.4 124.7 121.4 125.6 116.9 127.6 242.1 247.0 244.5 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 19.3 59.6 36.5 44.5 28.7 73.4 78.9 81.0 102.2 Management EBITDA ex MI 17.1 57.7 35.2 41.6 19.4 53.8 74.8 76.9 73.3 EBITDA Margin 14% 32% 23% 26% 20% 37% 25% 25% 29% Depreciation 0.9 0.9 0.9 0.8 0.8 0.6 1.8 1.7 1.4 Amortisation 1.8 1.9 1.8 1.8 1.9 1.7 3.7 3.6 3.6 Depreciation & Amortisation 2.7 2.8 2.7 2.6 2.7 2.2 5.5 5.3 4.9 Management EBIT 16.6 56.8 33.7 41.9 26.0 71.2 73.4 75.7 97.2 Management EBIT ex MI 14.3 55.0 32.5 39.0 16.7 51.6 69.3 71.5 68.3 EBIT Margin 12.1% 30.8% 21.4% 24.6% 17.9% 35.4% 22.9% 23.1% 28.1% EBIT ex MI Margin 10.7% 30.1% 20.8% 23.3% 12.3% 28.4% 21.9% 22.1% 21.5%
		0.0 0.0 0.0 78.9 81.0 102.2 74.8 76.9 73.3 25% 25% 29% 1.8 1.7 1.4 3.7 3.6 3.6 5.5 5.3 4.9 73.4 75.7 97.2 69.3 71.5 68.3 22.9% 23.1% 28.1% 21.9% 22.1% 21.5%

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UK Mortgage Services Profit & Loss

USD M (at actual rates) 1H21 2H21	USD M (at actual rates) 1H21 2H21	USD M (at actual rates) 1H21 2H21	USD M (at actual rates) 1H21 2H21	USD M (at actual rates) 1H21 2H21	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23	1H22 2H22 1H23 2H23 FY21 FY22 FY23 0.0 0.0 0.0 0.0 4.1 0.0 0.0 58.2 57.2 49.8 52.5 128.4 115.4 102.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 58.2 57.2 49.8 52.5 132.5 115.4 102.3 53.0 54.6 45.5 49.8 138.6 107.6 95.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0 5.2 2.6 4.2 2.7 -6.1 7.8 6.9 9% 5% 8% 5% -5% 7% 7% 0.1 -0.5 -0.4 0.0 0.1 -0.4 -0.4 0.4 0.0 0.0 0.0 0.9 0.4 0.0 0.5 -0.5 -0.4 0.0 1.0 0.0 -0.4 4.7 3.1 4.7 2.7 -7.1 7.8 7.4 8.0% 5.5% 9.4% 5.2% -5.3% 6.8% 7.2% Performing Non- performing Total Performing Non- performing Total 36.8 2.9 39.7 31.9 3.6 35.4 248.0 22.0 270.0 201.1 26.9 227.9 FY22 FY23
$166.2m Up 42.4% 31.5% Up 630bps Margin UKAR Fixed Fee 4.0 0.1 Other fee revenue 64.7 63.7 Margin Income 0.0 0.0 Total Management Revenue 68.7 63.8 Operating expenditure 69.4 69.3 Share of net profit/(loss) of associates and jv 0.0 0.0 Management EBITDA -0.7 -5.5 EBITDA Margin -1% -9% Depreciation 0.0 0.1 Amortisation 0.4 0.4 Depreciation & Amortisation 0.5 0.5
								.7 % 0.0 0.0 0.0 .7 %	-6.1 7.8 6.9 -5% 7% 7% 0.1 -0.4 -0.4 0.9 0.4 0.0 1.0 0.0 -0.4 -7.1 7.8 7.4 -5.3% 6.8% 7.2% ing Non- performing Total 3.6 35.4 FY23
Management EBIT -1.1 -6.0 EBIT Margin -1.6% -9.3%					4.7 3.1 4.7 2 8.0% 5.5% 9.4% 5.2
	Performing Non- performing Total UPB £bn 40.4 3.5 43.9 Number of loans(k) 286.0 26.0 312.0 FY21**				Performing Non- performing Total 36.8 2.9 39.7 248.0 22.0 270.0 FY22

								Perform
UK	UPB £bn*	40.4	3.5	43.9	36.8	2.9	39.7	31.9		3.6	35.4
	Number of loans(k)*	286.0	26.0	312.0	248.0	22.0	270.0	201.1
										26.9	227.9

Servicing performed on a contractual basis. UK includes bureau UPB value, but excludes the number of bureau loans.

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US Mortgage Services Profit & Loss

USD M (at actual rates)		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Base Servicing Fees		107.9	101.6	94.1	89.0	91.5	98.4	209.5	183.2	189.9
Servicing related fees		29.8	49.4	26.4	31.5	23.5	24.2	79.2	57.9	47.6
Other service fees		75.4	82.3	92.3	89.5	61.2	52.3	157.7	181.8	113.4
$166.2m Margin Income Total Management Revenue	Up 42.4%	2.1 215.2	1.7 235.0	1.2 214.0	2.1 212.1	22.5 198.6	30.1 204.9	3.7 450.1	3.3 426.1	52.6 403.6
Margin Operating expenditure		167.5	173.6	163.3	162.5	156.9	144.5	341.1	325.8	301.4
31.5% Share of net profit/(loss) of associates	Up 630bps and jv	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Management EBITDA		47.7	61.4	50.7	49.6	41.7	60.4	109.0	100.3	102.1
Management EBITDA ex MI		45.6	59.7	49.5	47.5	19.2	30.3	105.3	97.0	49.5
EBITDA Margin		22%	26%	24%	23%	21%	29%	24%	24%	25%
Depreciation		2.1	1.8	1.5	1.3	1.5	1.6	3.9	2.8	3.1
Amortisation		45.1	53.9	54.9	56.7	60.8	42.0	99.0	111.6	102.8
Depreciation & Amortisation		47.2	55.7	56.4	57.9	62.3	43.6	102.9	114.4	105.9
Management EBIT		0.5	5.7	-5.7	-8.4	-20.6	16.8	6.2	-14.1	-3.7
Management EBIT ex MI		-1.6	4.0	-6.9	-10.4	-43.0	-13.3	2.4	-17.4	-56.3
EBIT Margin		0.2%	2.4%	-2.7%	-3.9%	-10.4%	8.2%	1.4%	-3.3%	-0.9%
EBIT ex MI Margin		-0.7%	1.7%	-3.3%	-5.0%	-24.4%	-7.6%	0.5%	-4.1%	-16.1%

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

				FY22			FY23			FY23 v FY22
	UPB and	Performing number of loans		Non- performing	Total	Performing	Non- performing	Total	Performing	Non- performing	Total
	Fully owned MSR's	UPB $bn Number of loans (k)	26.6 122.0	6.6 54.0	33.2 176.0	29.3 133.1	5.9 47.8	35.1 181.0	10.1% 9.1%	-11.3% -11.4%	5.9% 2.8%
USA	~~$166.2m~~ ~~Up 42.4%~~ Margin UPB $bn Number of loans(k) UPB $bn Number of loans(k) Part owned MSR's Subservicing		8.3 50.0 59.9 308.0	12.7 73.0 6.4 55.0	21.0 123.0 66.3 363.0	7.2 44.4 79.2 392.3	11.3 67.0 11.3 85.3	18.5 111.4 90.5 477.6	-13.3% -11.2% 32.3% 27.4%	-11.0% -8.2% 76.1% 55.1%	-11.9% -9.4% 36.5% 31.6%
	31.5% Total USA	~~Up 630bps~~ UPB $bn Number of loans(k)	94.8 480.0	25.7 182.0	120.5 662.0	115.7 569.8	28.4 200.2	144.1 770.0	22.1% 18.7%	10.6% 10.0%	19.6% 16.3%

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)	1H21	FY21	1H22	FY22	1H23	FY23
	Dec	Jun	Dec	Jun	Dec	Jun
Net Loan Servicing Advances1	91.5	119.0	136.3	106.4	161.6	131.8
Net MSR intangible asset2	489.7	512.9	470.3	496.9	545.3	468.8
Investment in SPVs3	32.8	30.3	32.1	26.3	22.6	21.9
Other intangible assets4	68.8	67.5	66.3	65.3	64.4	62.0
Total invested capital5	682.8	729.6	705.0	694.9	793.9	684.5 5

Net cash payments for MSR purchases6	65.9	123.6	9.5	73.0	102.0	70.6
MSR amortisation7	45.1	99.0	54.9	111.6	60.8	102.8

1 FY23 Annual report reference: Note 15 Borrowings on SLS non-recourse lending facility and Note 17 Loan servicing advances.

2 FY23 Annual report reference: Note 10 Intangible assets on Mortgage servicing rights and Note 26 Mortgage servicing related liabilities.

3 FY23 Annual report reference: Note 14 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 Total Invested capital excludes Group goodwill of around $65m; US GAAP tangible book value at 30 June 2023 is approximately $600m.

6 Refer to Cashflow statement: Investing cash flow - Payments for intangible assets including MSRs. Net cash payments for MSR purchases of $70.6m in FY23 (purchases of $168.2m and sales of $97.6m).
7 Amortisation for all servicing rights is calculated using the straight line method over their estimated useful lives, which for the interest-sensitive portfolio was eight years through 1H23 when it increased to nine years and nine years for the non interest-sensitive portfolio.

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Revenue definitions

Classification	USD M	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC	FY18 FY19 FY20 FY21 FY22 FY23 FY23@ CC
	Issuer Services
Core Fees	Register Maintenance - Issuer Paid	482	463	441	478	469	460	479
Transactional Fees	Register Maintenance - Holder/Broker Paid	188	194	184	186	206	201	206
Event Fees	Corporate Actions	113	94	99	136	111	86	90
Event Fees	Stakeholder RelationshipManagement	95	67	59	87	60	53	55
~~$166~~ Core Fees	~~m~~ Governance Services	19	18	34	69	86	91	93
~~.~~	~~Up 42.4%~~ Mortgage Services & Property Rental Services
Core fee revenue	US Mortgage Services - Base	157	173	214	209	183	190	190
~~Margin~~ Transactional Fees	US Mortgage Services - service	50	47	47	79	58	48	48
~~315%~~ Transactional Fees	~~U 630bs~~ US Mortgage Services - Other	85	111	153	158	182	113	113
~~.~~ Core fee revenue	~~p p~~ UK Mortgage Services	255	255	197	132	115	102	114
Transactional Fees	PropertyRental Services	1	2	1	1	1	1	1
	Employee Share Plans & Voucher Services
Core Fees	Plans - Fee revenues	105	130	137	145	151	147	154
Transactional Fees	Plans - Transactional revenues	96	128	129	160	160	155	164
Core Fees	Plans - Other revenues	12	15	12	12	13	15	16
Core Fees	Vouchers	21	19	14	12	12	5	6
	Business Services
Event Fees	Bankruptcy& Class Actions	146	138	133	125	85	70	71
Core Fees	Bankruptcy& Class Actions(TSA)	0	0	0	0	0	1	1
Core Fees	Corporate Trust	51	52	55	56	53	54	57
Core Fees	Karvy	48	17
Core Fees	Computershare Corporate Trust					280	476	476
	Communication Services & Utilities
Core Fees	Communication Services	182	169	162	161	172	159	168
Core Fees	Utilities	10	9	7	8	9	8	9
Core Fees	Corporate & Technology	8	9	4	2	5	4	5
	Total Revenue excluding Margin Income	2,121	2,110	2,082	2,216	2,410	2,440	2,512
	Margin Income	180	246	199	107	187	775	792
	Total Revenue	2,301	2,357	2,281	2,323	2,597	3,216	3,304

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FY23 Revenue by Business Unit and Geography

USD M(at actual rates)	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total	ANZ Asia UCIA CEU USA Canada Total
Register Maintenance	94.4	60.8	85.2	55.3	406.2		65.2	767.0
Corporate Actions	21.4	10.0	21.3	0.0	88.1		38.2	179.1
~~1662~~ Stakeholder RelationshipManagement	1.9	3.9	16.6	0.0	30.5		0.0	53.0
~~$.m~~ ~~Up 42.4%~~ Governance Services	0.6	1.0	9.1	3.2	75.7		1.6	91.1
Margin Issuer Services	118.4	75.7	132.3	58.5	600.5		105.0	1,090.2
~~31.5%~~ ~~Up 630bps~~ US Mortgage Services	0.0	0.0	0.0	0.0	403.6		0.0	403.6
UK Mortgage Services	0.0	0.0	145.3	0.0		0.0	0.0	145.3
Mortgage Services & Property Rental Services	0.0	0.0	145.3	0.0	4	03.6	0.0	548.8
Employee Share Plans	13.1	43.2	207.0	6.9		58.6	17.9	346.7
Employee Share Plans & Voucher Services	13.1	43.2	212.1	6.9		58.6	17.9	351.7
Corporate Trust	0.0	0.0	0.0	0.0		25.7	84.3	110.0
Bankruptcy	0.0	0.0	0.0	0.0		32.6	0.0	32.6
Class Actions	0.0	0.0	3.8	0.0		50.0	9.8	63.6
Business Services	0.0	0.0	3.8	0.0	1	08.2	94.1	206.1
Communication Services & Utilities	73.9	0.0	9.3	25.2		48.8	9.7	166.9
Corporate & Technology	0.7	0.0	2.9	0.0		0.1	0.5	4.2
Computershare Corporate Trust	0.0	0.0	0.0	0.0	8	47.9	0.0	847.9
Total Revenue	206.0	118.9	505.7	90.6	2,067.6
							227.1	3,215.9

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FY23 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		86.0	60.8	64.9	8.7	12.4	23.3	406.2	65.2	39.5	767.0
Corporate Actions		20.1	10.0	16.7	0.0	3.8	0.0	88.1	38.2	2.2	179.1
Stakeholder RelationshipManagement		1.9	3.9	10.7	0.0	0.0	0.0	30.5	0.0	6.0	53.0
Governance Services		0.6	1.0	8.8	0.0	0.1	0.5	75.7	1.6	2.9	91.1
~~$166.2m~~ Issuer Services Mortgage Services & PropertyRental Services	~~Up 42.4%~~ 108.6 0.0		75.7 0.0	101.1 145.3	8.7 0.0	16.3 0.0	23.8 0.0	600.5 403.6	105.0 0.0	50.7 0.0	1,090.2 548.8
~~31.5%~~ ~~Margin~~ Employee Share Plans & Voucher Services Business Services Communication Services & Utilities	~~Up 630bps~~ 13.1 0.0 73.9		42.9 0.0 0.0	120.1 3.8 9.3	84.0 0.0 0.0	0.2 0.0 0.0	0.0 0.0 25.2	59.9 108.2 48.8	17.9 94.1 9.7	13.6 0.0 0.0	351.7 206.1 166.9
Corporate & Technology		0.7	0.0	2.9	0.0	0.0	0.0	0.1	0.5	-0.0	4.2
Computershare Corporate Trust		0.0	0.0	0.0	0.0	0.0	0.0	847.9	0.0	0.0	847.9
Total Revenue in USD		196.3	118.6	382.5	92.7	16.5	49.0	2,069.0	227.1	64.3	3,215.9

	Australia	Hong Kong	UK & Offshore	Switzerland	South Africa	Germany	USA	Canada	Other
	AUD	HKD	GBP	CHF	RAND	EUR	USD	CAD	USD
Register Maintenance	127.9	476.4	54.0	8.2	218.6	22.3	406.2	87.4	39.5
Corporate Actions	29.8	78.1	13.9	0.0	66.1	0.0	88.1	51.2	2.2
Stakeholder RelationshipManagement	2.9	30.9	8.9	0.0	0.0	0.0	30.5	0.0	6.0
Governance Services	0.9	7.7	7.3	0.0	2.2	0.5	75.7	2.1	2.9
Issuer Services	161.5	593.1	84.1	8.2	286.9	22.8	600.5	140.7	50.7
Mortgage Services & PropertyRental Services	0.0	0.0	120.8	0.0	0.0	0.0	403.6	0.0	0.0
Employee Share Plans & Voucher Services	19.5	336.2	99.9	79.1	2.7	0.0	59.9	24.1	13.6
Business Services	0.0	0.0	3.2	0.0	0.0	0.0	108.2	126.1	0.0
Communication Services & Utilities	109.9	0.0	7.8	0.0	0.0	24.1	48.8	13.0	0.0
Corporate & Technology	1.1	0.3	2.4	0.0	0.7	0.0	0.1	0.6	-0.0
Computershare Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	847.9	0.0	0.0
Total Revenue in local currency	292.0	929.6	318.2	87.3	290.2	46.9	2,069.0	304.5	64.3

Equatex Revenue of $87.985m has been split between Switzerland $82.6m, Norway $3.2m, USA $1.3m and Other $0.9m. This revenue is classified as UCIA consistent with prior periods. In addition, Switzerland includes revenue for Register Maintenance $8.7m and Employee Share Plans $1.4m.

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Revenue, EBITDA and EBIT by Region

USD M (at actual rates)

Revenue	1H21 2H21 1H22 2H22 1H23 2H23	1H21 2H21 1H22 2H22 1H23 2H23	1H21 2H21 1H22 2H22 1H23 2H23	1H21 2H21 1H22 2H22 1H23 2H23	1H21 2H21 1H22 2H22 1H23 2H23	1H21 2H21 1H22 2H22 1H23 2H23	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23
ANZ	111.4	102.0	116.9	103.2	109.9	96.1	213.4	220.1	206.0
Asia	76.8	84.6	61.2	55.7	57.9	61.0	161.3	116.9	118.9
UCIA	215.8	254.2	234.8	256.8	218.1	287.6	470.0	491.6	505.7
~~$166.2m~~ Up 42.4% ~~31.5%~~ ~~Up 630bps~~ Margin CEU 42.4 58.5 37.5 58.1 31.0 59.6 USA 574.5 622.5 630.6 849.6 986.0 1,081.7 Canada 81.6 98.6 90.5 102.3 107.7 119.4 Total Revenue 1,102.5 1,220.3 1,171.5 1,425.8 1,510.6 1,705.3 EBITDA 1H21 2H21 1H22 2H22 1H23 2H23							100.9 95.7 90.6
							1,197.0	1,480.2	2,067.6
							180.2 192.8 227.1
							2,322.8	2,597.4	3,215.9

							FY21 FY22 FY23
ANZ	8.7	14.9	15.7	6.8	10.1	9.1	23.7	22.4	19.2
Asia	39.1	32.0	27.9	21.0	24.0	23.4	71.1	48.9	47.3
UCIA	33.2	56.1	59.3	39.0	50.4	102.0	89.4	98.3	152.5
CEU	4.5 13.9 5.6 47.5 1.4 20.6 156.6 186.1 161.5 247.5 398.6 461.2 35.6 47.5 44.5 44.1 55.8 59.9 277.7 350.5 314.4 405.9 540.3 676.1 1H21 2H21 1H22 2H22 1H23 2H23						18.4 53.0 22.0
USA	156.6	186.1	161.5	247.5	398.6	461.2	342.7	409.1	859.8
Canada							83.1 88.6 115.6
Total EBITDA	277.7	350.5	314.4	405.9	540.3	676.1	628.2	720.2	1,216.3
EBIT
							FY21 FY22 FY23
ANZ	3.1	8.7	10.3	1.5	5.1	4.1	11.7	11.9	9.2
Asia	37.2	29.9	25.9	19.4	22.4	21.8	67.1	45.3	44.2
UCIA	20.7	44.4	48.3	35.3	41.6	92.0	65.1	83.6	133.6
CEU	2.4 11.7 3.6 39.5 0.4 - 18.6 93.7 115.4 90.9 171.7 317.9 397.3 33.7 45.2 42.5 42.2 54.0 58.0 190.8 255.3 221.4 309.6 440.7 591.8						14.1 43.1 18.2
USA	93.7	115.4	90.9	171.7	317.9	397.3	209.2	262.6	715.2
Canada							78.9 84.6 112.1
Total EBIT	190.8	255.3	221.4	309.6	440.7	591.8	446.1	531.1	1,032.5

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Revenue excluding acquisitions and disposals

USD M (at actual rates)		1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23
Management Revenue		1,102.5	1,220.3	1,171.5	1,425.8	1,510.6	1,705.3	2,322.8	2,597.4	3,215.9
Less acquisitions*		3.1	3.9	84.2	307.2	324.8	0.0	31.2	336.0	324.8
Less disposals*		0.0	2.7	2.2	18.3	70.7	48.9	2.7	20.5	119.7
$166.2m Less UKAR fixed fee Less Margin Income	Up 42.4%	4.0 55.5	0.1 51.2	0.0 54.4	0.0 74.5	0.0 243.2	0.0 420.7	4.1 106.7	0.0 128.9	0.0 663.8
Margin Management Revenue excluding acquisitions and
31.5% Up 630bps disposals, UKAR fixed fee and MI		1,039.9	1,162.4	1,030.7	1,025.7	872.0	1,235.7	2,178.0	2,112.0	2,107.6

Acquisitions: Reflects first 12 months revenue contribution and Disposals: Reflects 12 months historical revenue contribution prior to disposal Acquisitions: Verbatim LLC (1st Jul 20), Wells Fargo Corporate Trust Services (1st Nov 21).

Disposals: Milestone – 20% interest (1st Oct 21), Private Capital Solutions client accounts (31st Dec 21), Bankruptcy and Class Actions business (1st May 23)

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Cost out programs – FY23

$37.9m cost out benefit achieved in FY23

$M	Benefit realisation (cumulative)
$166.2m Up 42.4% Activity Total cost savings estimates FY22A FY23A FY23 change vs. last disclosure2 FY24E FY25E FY26E Total change vs. last disclosure2
31.5% Up 630b Margin Stage 1 Total 25 - 30 Stage 2 Total 60 - 70 Stage 3 Total 40 – 80	ps 28.1 28.1 ► 0.0 28.1 28.1 28.1 66.2 66.2 ► 0.0 66.2 66.2 66.2 43.1 50.4 ▲ 0.1 61.1 70.6 76.7	COMPLETE COMPLETE ▲2.4m
Stage 4 Total 40 – 55	23.5 ▼ 1.5 46.7 53.2 53.2	▲3.2m
Total estimate 165 – 235	137.4 168.2 ▼ 1.4 202.1 218.1 224.2	▲5.6m
Equatex synergies 40 UK Mortgage Services1 85-90	19.9 25.1 ▲ 1.6 26.7 33.2 40 80.9 82.8 ▼ 0.7 86.4 88.8 88.8	▲0.6m ▼2.1m
Total cost savings 290-365	238.2 276.1 ▼ 0.5 315.2 340.1 353.0	▲4.1m
Cost to achieve (post tax)3	179.4 224.3 ► 0.0 265-275 295-300 295-300	►No change

› $37.9m of benefits achieved in FY23 of which $10.3m was realised in 1H23 and $27.6m in 2H23.
› Stage 4 includes cost out benefits and costs to achieve for US Mortgage servicing.

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Notes:[1] This does not include the GBP27.0m of IT costs that ceased post migration to single platform.[2 ] Last disclosure at 1H23 and included cumulative benefits up to FY26.[3] Costs to achieve are cumulative.

Statutory results

USD M (at actual rates)

Statutory results		FY22	FY23	FY23 v 22
Total revenue from continuing operations		2,565.1	3,200.8	24.8%
Other income		51.4	21.7	-57.8%
Total Revenue		2,616.5	3,222.5	23.2%
$166.2m Total Expenses Statutory Net Profit (post NCI)	Up 42.4%	2,307.6 227.8	2,605.1 444.7	12.9% 95.2%
Earnings per share (post NCI)		37.71	73.67	95.4%
Margin
31.5% Up 630bps Reconciliation of Statutory Revenue to Management Results Total Revenue per statutory results				FY23 3,222.5
Management Adjustments				-6.6
Contingent consideration remeasurement				-4.1
Gain on other disposals				-1.7
Marked to market adjustments - derivatives				-1.0
Total Revenue per management results				3,215.9
Reconciliation of Statutory NPAT to Management Results				FY23
Net profit after tax per statutory results				444.7
Management Adjustments (after tax)
Amortisation				70.7
Acquisitions and Disposals				85.6
Other				51.1
Total Management Adjustments				207.3
Net profit after tax per management results				652.1
Management Earnings per share (cps)				108.01

› 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 non-recurring 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 oneoff charges.
› Cash adjustments are predominantly expenditure on acquisitionrelated and other restructures and will cease once the relevant acquisition integrations and restructures are complete.
› A 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)	1H21	FY21	1H22	FY22	1H23	FY23
Management adjustments items (net of tax)
Amortisation	21.4	42.7	20.4	63.4	35.1	70.7
$166.2m Up 42.4% Amortisation of acquisition related intangible assets Acquisitions and Disposals	21.4 4.8	42.7 24.5	20.4 20.4	63.4 45.1	35.1 30.0	70.7 85.6
31.5% Up 630bps Margin Acquisition and disposal related expenses Gain on Disposal of the Group's shareholding in Euroclear Holding SA/NV Gain on the disposal of the Group's investment in Milestone Group Pty Ltd	13.7 -8.9	33.6 -9.1	33.4 -12.5	12.2 -12.4
Gain on the sale of Private Capital Solutions client accounts in Canada			-0.4	-1.5		-0.1
Gain on the sale of CMC Funding in USA						-1.3
Acquisition related integration expenses				46.8	31.9	89.9
Adjustment of contingent consideration receivable					-1.9	-2.9
Other	19.2	27.5	6.6	13.7	26.8	51.1
Major restructuring costs	19.3	29.2	3.7	13.1	11.8	29.3
Marked to market adjustments - derivatives	-0.1	1.6	1.9	-0.5	2.7	-0.7
Reversal of provisions		-3.2
Voucher Services impairment			1.1	1.1		9.9
UK Mortgage Services impairment					12.3	12.6
Total Management Adjustments	45.3	94.8	47.4	122.2	91.9	207.3

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Other expenditure

USD M (at actual rates)

Operating costs	42.4% ~~630bps~~ 1H21 2H21 1H22 2H22 1H23 2H23 202.9 219.6 191.3 207.6 183.6 187.2 502.3 534.3 553.8 674.2 652.9 678.3 485.4 516.1 535.1 645.6 623.2 655.9 16.9 18.2 18.7 28.7 29.7 22.4 17.5 13.8 13.9 15.8 15.9 18.3 58.9 55.4 51.8 66.2 66.4 92.1 43.5 46.8 46.6 56.4 51.7 53.6 622.2 650.3 666.1 812.7 786.8 842.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4	42.4% ~~630bps~~ 1H21 2H21 1H22 2H22 1H23 2H23 202.9 219.6 191.3 207.6 183.6 187.2 502.3 534.3 553.8 674.2 652.9 678.3 485.4 516.1 535.1 645.6 623.2 655.9 16.9 18.2 18.7 28.7 29.7 22.4 17.5 13.8 13.9 15.8 15.9 18.3 58.9 55.4 51.8 66.2 66.4 92.1 43.5 46.8 46.6 56.4 51.7 53.6 622.2 650.3 666.1 812.7 786.8 842.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4	42.4% ~~630bps~~ 1H21 2H21 1H22 2H22 1H23 2H23 202.9 219.6 191.3 207.6 183.6 187.2 502.3 534.3 553.8 674.2 652.9 678.3 485.4 516.1 535.1 645.6 623.2 655.9 16.9 18.2 18.7 28.7 29.7 22.4 17.5 13.8 13.9 15.8 15.9 18.3 58.9 55.4 51.8 66.2 66.4 92.1 43.5 46.8 46.6 56.4 51.7 53.6 622.2 650.3 666.1 812.7 786.8 842.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4	42.4% ~~630bps~~ 1H21 2H21 1H22 2H22 1H23 2H23 202.9 219.6 191.3 207.6 183.6 187.2 502.3 534.3 553.8 674.2 652.9 678.3 485.4 516.1 535.1 645.6 623.2 655.9 16.9 18.2 18.7 28.7 29.7 22.4 17.5 13.8 13.9 15.8 15.9 18.3 58.9 55.4 51.8 66.2 66.4 92.1 43.5 46.8 46.6 56.4 51.7 53.6 622.2 650.3 666.1 812.7 786.8 842.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4	42.4% ~~630bps~~ 1H21 2H21 1H22 2H22 1H23 2H23 202.9 219.6 191.3 207.6 183.6 187.2 502.3 534.3 553.8 674.2 652.9 678.3 485.4 516.1 535.1 645.6 623.2 655.9 16.9 18.2 18.7 28.7 29.7 22.4 17.5 13.8 13.9 15.8 15.9 18.3 58.9 55.4 51.8 66.2 66.4 92.1 43.5 46.8 46.6 56.4 51.7 53.6 622.2 650.3 666.1 812.7 786.8 842.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4	42.4% ~~630bps~~ 1H21 2H21 1H22 2H22 1H23 2H23 202.9 219.6 191.3 207.6 183.6 187.2 502.3 534.3 553.8 674.2 652.9 678.3 485.4 516.1 535.1 645.6 623.2 655.9 16.9 18.2 18.7 28.7 29.7 22.4 17.5 13.8 13.9 15.8 15.9 18.3 58.9 55.4 51.8 66.2 66.4 92.1 43.5 46.8 46.6 56.4 51.7 53.6 622.2 650.3 666.1 812.7 786.8 842.3 825.1 869.9 857.4 1,020.3 970.5 1,029.4	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23
Cost of Sales	202.9	219.6	191.3	207.6	183.6	187.2	422.4	398.9	370.8

Personnel	502.3	534.3	553.8	674.2	652.9	678.3	1,036.6	1,228.1	1,331.1
Fixed/Perm	485.4	516.1	535.1	645.6	623.2	655.9 22.4	1,001.5	1,180.7	1,279.0
~~$166.2m~~ Up Variable/Temp	42.4% 16.9	18.2	18.7	28.7	29.7		35.1	47.4	52.1
~~315%~~ Margin Occupancy Other Direct Computer/External Technology	17.5	13.8	13.9	15.8	15.9	18.3 92.1 53.6	31.3	29.7	34.2
	58.9	55.4	51.8	66.2	66.4		114.3	118.0	158.5
	43.5	46.8	46.6	56.4	51.7		90.3	103.0	105.3
~~.~~ ~~Up~~ Total Controllable Costs	~~630bps~~ 622.2	650.3	666.1	812.7	786.8	842.3	1,272.5	1,478.8	1,629.1
Total Operating Expenditure	825.1	869.9	857.4	1,020.3	970.5	1,029.4	1,695.0	1,877.7	1,999.9

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

Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23 Development 48.5 52.2 54.3 64.1 63.0 79.2 Infrastructure 55.2 57.0 56.4 59.3 59.7 60.3 Maintenance 22.1 20.0 21.0 21.7 25.6 30.3 Admin 6.4 6.7 7.5 12.1 9.7 13.5 Total Technology Costs 132.3 135.9 139.2 157.2 158.1 183.3 Technology costs as a % of revenue 12.0% 11.1% 11.9% 11.0% 10.5% 10.8%	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23
Development	48.5	52.2	54.3	64.1	63.0	79.2	100.7	118.4	142.2
Infrastructure	55.2	57.0	56.4 59.3 59.7 60.3				112.2	115.7	120.0
Maintenance	22.1	20.0	21.0 21.7 25.6 30.3				42.2	42.7	56.0
Admin	6.4	6.7	7.5 12.1 9.7 13.5				13.1	19.6	23.2
Total Technology Costs	132.3	135.9	139.2	157.2	158.1	183.3	268.2	296.4 341.4
Technology costs as a % of revenue	12.0%	11.1%	11.9%	11.0%	10.5%	10.8%	11.5%	11.4%	10.6%

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

Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	Capex breakdown 1H21 2H21 1H22 2H22 1H23 2H23 Information Technology 6.6 11.7 9.1 27.2 11.3 24.9 Communication Services Facilities 1.5 2.6 0.5 2.1 0.0 1.1 Occupancy 2.3 1.0 3.1 2.4 5.5 6.6 Other 0.1 1.1 0.3 0.1 0.4 0.0 Total Capex 10.6 16.4 12.9 31.8 17.2 32.7	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23
Information Technology	6.6	11.7	9.1	27.2	11.3	24.9	18.3	36.3	36.3
Communication Services Facilities	1.5	2.6	0.5 2.1 0.0 1.1				4.1	2.6	1.2
Occupancy	2.3	1.0	3.1 2.4 5.5 6.6				3.3	5.5	12.1
Other	0.1	1.1	0.3 0.1 0.4 0.0				1.3	0.4	0.4
Total Capex	10.6	16.4	12.9	31.8	17.2	32.7	27.0	44.7	49.9

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FY23 Client Cash

Margin income rises to $775m

0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 USD billion	21.0 16.1 16.8 17.6 17.6 *125.2* *121.2* *116.0* *83.4* *55.5*	21.0 16.1 16.8 17.6 17.6 *125.2* *121.2* *116.0* *83.4* *55.5*	20.1 27.9 39.3 37.1 30.9 *51.5* *62.1* *125.0* *344.1* *431.3* 0.0 100.0 200.0 300.0 400.0 500.0 600.0 2H21 1H22 2H22 1H23 2H23 USD million Margin Income ($m)	20.1 27.9 39.3 37.1 30.9 *51.5* *62.1* *125.0* *344.1* *431.3* 0.0 100.0 200.0 300.0 400.0 500.0 600.0 2H21 1H22 2H22 1H23 2H23 USD million Margin Income ($m)
			20.1
	1H19 2H19 1H20 2H20 1H21 Average balances ($bn)
			CCT Total Group 1H23 2H23 FY23 1H23 2H23 FY23 163.4 208.9 372.4 344.1 431.3 775.4 17.7 15.7 16.7 37.1 30.9 34.0 1.85% 2.66% 2.23% 1.86% 2.79% 2.28% 23.2 21.4 44.6 23.2 21.4 44.6 44.1 42.7 43.4 44.1 43.4 43.7 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
		Legacy CPU	CCT	Total Group
		1H23 2H23 FY23	1H23 2H23 FY23	1H23 2H23 FY23
Margin Income $m		180.7 222.3 403.1	163.4 208.9 372.4	344.1 431.3 775.4
Avg balances - Total $bn		19.4 15.2 17.3	17.7 15.7 16.7	37.1 30.9 34.0
Total MI yield %		1.86% 2.92% 2.33%	1.85% 2.66% 2.23%	1.86% 2.79% 2.28%
MMF fee revenue $m MMF avg balances $bn MMFyield %
		0.0 0.1 0.1	23.2 21.4 44.6	23.2 21.4 44.6
		0.0 0.7 0.3	44.1 42.7 43.4	44.1 43.4 43.7
		0.00% 0.02% 0.03%	0.10% 0.10% 0.10%	0.10% 0.10% 0.10%

Margin Income and Balances translated at Actual fx rates. FY23 Margin Income in constant currency is $792m. MI yield reflects the margin income generated from the cash balances only (exposed and non-exposed). Money market fund fees are classified as fee revenue and included in EBIT excluding margin income.

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Breakdown of Average Client Balances and Margin Income

Average Client Balances ($b) Margin Income ($m) At actual rates 1H23 2H23 FY23 FY22 1H23 2H23 FY23 Total 37.1 30.9 34.0 33.6 344.1 431.3 775.4 By Region 37.1 30.9 34.0 33.6 344.1 431.3 775.4 Asia Pacific 0.9 0.9 0.9 1.1 4.6 6.3 10.9 EMEA 4.3 4.8 4.5 4.7 33.4 63.0 96.4 US 27.6 21.6 24.7 22.8 270.5 319.0 589.5 Canada 4.3 3.6 3.9 5.1 35.6 43.0 78.6 By Product Line 37.1 30.9 34.0 33.6 344.1 431.3 775.4 Register Maintenance 3.8 3.8 3.7 3.6 41.8 63.8 105.6 Corporate Actions 3.9 2.9 3.4 6.5 40.3 52.5 92.8 Issuer Services 7.6 6.7 7.1 10.1 82.1 116.3 198.4 Employee Share Plans & Voucher Services 1.2 1.3 1.3 1.2 9.4 19.7 29.0 Business Services 6.8 3.3 5.1 5.7 49.3 31.4 80.7 Mortgage Services & Property Rental Services 3.7 3.9 3.8 4.3 39.9 55.0 94.9 Computershare Corporate Trust 17.7 15.7 16.7 12.2 163.4 208.9 372.4	Average Client Balances ($b) Margin Income ($m) At actual rates 1H23 2H23 FY23 FY22 1H23 2H23 FY23 Total 37.1 30.9 34.0 33.6 344.1 431.3 775.4 By Region 37.1 30.9 34.0 33.6 344.1 431.3 775.4 Asia Pacific 0.9 0.9 0.9 1.1 4.6 6.3 10.9 EMEA 4.3 4.8 4.5 4.7 33.4 63.0 96.4 US 27.6 21.6 24.7 22.8 270.5 319.0 589.5 Canada 4.3 3.6 3.9 5.1 35.6 43.0 78.6 By Product Line 37.1 30.9 34.0 33.6 344.1 431.3 775.4 Register Maintenance 3.8 3.8 3.7 3.6 41.8 63.8 105.6 Corporate Actions 3.9 2.9 3.4 6.5 40.3 52.5 92.8 Issuer Services 7.6 6.7 7.1 10.1 82.1 116.3 198.4 Employee Share Plans & Voucher Services 1.2 1.3 1.3 1.2 9.4 19.7 29.0 Business Services 6.8 3.3 5.1 5.7 49.3 31.4 80.7 Mortgage Services & Property Rental Services 3.7 3.9 3.8 4.3 39.9 55.0 94.9 Computershare Corporate Trust 17.7 15.7 16.7 12.2 163.4 208.9 372.4	Average Annualized Yield FY22 1H23 2H23 FY23 FY22 187.1 1.86% 2.79% 2.28% 0.56% 187.1 1.86% 2.79% 2.28% 0.56% 1.0 1.01% 1.48% 1.23% 0.10% 52.4 1.55% 2.63% 2.12% 1.13% 102.3 1.96% 2.95% 2.39% 0.45% 31.4 1.67% 2.37% 1.99% 0.62% 187.1 1.86% 2.79% 2.28% 0.56% 22.2 2.22% 3.38% 2.80% 0.62% 26.2 2.09% 3.62% 2.74% 0.40% 48.4 2.16% 3.48% 2.78% 0.48% 4.2 1.53% 2.95% 2.27% 0.33% 30.6 1.44% 1.90% 1.59% 0.53% 48.4 2.13% 2.84% 2.49% 1.13% 55.5 1.85% 2.66% 2.23% 0.45%	Average Annualized Yield FY22 1H23 2H23 FY23 FY22 187.1 1.86% 2.79% 2.28% 0.56% 187.1 1.86% 2.79% 2.28% 0.56% 1.0 1.01% 1.48% 1.23% 0.10% 52.4 1.55% 2.63% 2.12% 1.13% 102.3 1.96% 2.95% 2.39% 0.45% 31.4 1.67% 2.37% 1.99% 0.62% 187.1 1.86% 2.79% 2.28% 0.56% 22.2 2.22% 3.38% 2.80% 0.62% 26.2 2.09% 3.62% 2.74% 0.40% 48.4 2.16% 3.48% 2.78% 0.48% 4.2 1.53% 2.95% 2.27% 0.33% 30.6 1.44% 1.90% 1.59% 0.53% 48.4 2.13% 2.84% 2.49% 1.13% 55.5 1.85% 2.66% 2.23% 0.45%
At actual rates 1H23 2H23 FY23	FY22	FY22	FY22
Total 37.1 30.9 34.0	33.6	187.1	0.56%
By Region 37.1 30.9 34.0 Asia Pacific 0.9 0.9 0.9 EMEA 4.3 4.8 4.5 US 27.6 21.6 24.7 Canada 4.3 3.6 3.9 By Product Line 37.1 30.9 34.0 Register Maintenance 3.8 3.8 3.7 Corporate Actions 3.9 2.9 3.4 Issuer Services 7.6 6.7 7.1 Employee Share Plans & Voucher Services 1.2 1.3 1.3 Business Services 6.8 3.3 5.1 Mortgage Services & Property Rental Services 3.7 3.9 3.8 Computershare Corporate Trust 17.7 15.7 16.7	33.6 1.1 4.7 22.8 5.1 33.6 3.6 6.5 10.1 1.2 5.7 4.3 12.2	187.1 1.0 52.4 102.3 31.4 187.1 22.2 26.2 48.4 4.2 30.6 48.4 55.5	0.56% 0.10% 1.13% 0.45% 0.62% 0.56% 0.62% 0.40% 0.48% 0.33% 0.53% 1.13% 0.45%

The average annualised yield reflects the benefit of hedges unwound in June 2020. $5.96m in FY22 (1H22 $3.0m) and $5.04m in FY23 (1H23 $3.0m).
On 1 May 2023, the Group disposed of the Class Actions and Bankruptcy business, which was based in North America and formed part of the Business Services segment.

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Debt Facilities Maturity Profile and Composition – at 30 June 2023

Maturity Profile

Composition of drawn debt facilities

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----- Start of picture text -----

• Diverse sources of debt now in the
Undrawn bank portfolio with public and private
7%
facilities: $260.5m bonds combined with Bank facilities
• Average debt facility maturity was 3.5 32%
years at 30 June 2023. This includes
1000
undrawn SLS advance facilities. 30%
$2,496.8m
900 • Total debt drawn – 0% fixed and
100% floating; 86% USD and 14%
GBP
800
• Average cost of debt for 2H FY23 is
700 211.0 6.94% 31%
49.5
600
500
289.0
450.5
400
300 584.3
200 220.0
350.0
100 200.0 216.8
88.4 97.9
0
FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32
SLS non-recourse advance facilities drawn USPP Drawn Bank Debt Undrawn Bank Debt Debt Capital Markets
USD Million
----- End of picture text -----

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Balance Sheet

At actual rates		1H21	FY21	1H22	FY223	1H23	FY23
		Dec	Jun	Dec	Jun	Dec	Jun
Current Assets	USD M	1,491.1	1,718.7	1,946.7	2,007.9	2,081.0	2,173.4
Non Current Assets	USD M	3,663.6	3,533.2	4,149.5	4,050.4	4,131.3	3,972.9
~~$1662m~~ Total Assets	USD M	5,154.7	5,251.9	6,096.2	6,058.3	6,212.4	6,146.4
~~.~~ ~~Up 42.4%~~ Current Liabilities	USD M	837.3	995.7	1,156.2	1,270.1	792.2	1,292.4
~~Mi~~ Non Current Liabilities	USD M	2,689.7	1,976.6	2,721.3	2,628.8	3,344.2	2,713.0
~~argn~~ Total Liabilities	USD M	3,527.0	2,972.3	3,877.5	3,898.9	4,136.4	4,005.4
~~31.5%~~ ~~Up 630bps~~ Total Equity	USD M	1,627.7	2,279.6	2,218.8	2,159.4	2,075.9	2,141.0

Net debt includingnon-recourse SLS Advance debt	USD M	1,561.6	893.2	1,542.2	1,371.6	1,465.6	1,216.2
Net debt to EBITDA ratio	Times	2.66	1.42	2.32	1.90	1.55	1.00
Net debt excludingnon-recourse SLS Advance debt	USD M	1,316.6	673.7	1,342.2	1,180.3	1,258.2	1,029.9
Net debt to EBITDA ratio excludingnon-recourse SLS Advance debt	Times	2.24	1.07	2.02	1.64	1.33	0.85
EBITDA Interest Coverage ratio	Times	10.1	11.5	11.6	12.0	10.1	9.1

ROE1	%	16.6%	14.7%	15.9%	15.6%	22.3%	30.1%
ROIC2	%	10.2%	10.9%	10.4%	12.2%	15.5%	22.7%

1 Return on equity (ROE) = rolling 12 month Mgt NPAT/Equity*

2 Return on invested capital (ROIC) = (Mgt EBITDA less depreciation & amortisation less income tax expense)/(net debt + total equity).

3 The 30 June 2022 deferred tax asset and reserves balances have been restated, please refer to the 4E - Statement of Changes in Equity for further information. The FY21 leverage ratio of 1.07x includes proceeds of rights issue which was deployed on the CCT acquisition in 1H22. $620.2m of gross proceeds received for rights issue. The net debt calculation in 1H22 and FY22 includes $33.0m and $29.9m of cash classified as an “asset held for sale” respectively.

Includes the average of the opening and closing position.

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Cash flow summary

Cash flow summary
USD M(at actual rates)	1H21	FY21	1H22	FY22	1H23	FY23
Net operatingreceipts andpayments	238.9	543.6	277.7	592.8	377.4	914.2
Net interest and dividends	-38.2	-75.3	-38.8	-78.2	-49.1	-109.5
Income taxespaid	-76.6	-92.9	-35.6	-76.2	-80.8	-181.0
Netoperating cash flows excluding SLS advances	124.1	375.4	203.3	438.4	247.5	623.7

~~$166.2m~~ ~~Up 42.4%~~ Cash outlayon business capital expenditure	-8.0	-16.3	-12.3	-42.8	-17.2	-41.9
Net cash outlayon MSRpurchases – Maintenance1and sales*	-45.1	-99.0	-9.5	-73.0	-102.0	-70.6
~~Margin~~
Free cash flow excluding SLS advances	71.0	260.1	181.5	322.6	128.3	511.1
~~U 630bs~~
~~.~~ ~~p p~~ SLS advance fundingrequirements2	-2.7	-27.5	-3.5	28.0	-57.9	-27.7

Cash flowpost SLS advance funding2	68.3	232.6	178.0	350.6	70.4	483.5

Investing cash flows
Net cash investment on MSR(purchases)1	-20.8	-24.6
Acquisitions(net of cash acquired)	-7.5	-21.8	-729.7	-730.6	-0.3	-9.6
Disposal of Euroclear HoldingSA/NV		12.1
Disposal of Milestone			16.7	15.9
Disposal of Kurtzman Carson Consultants & CMC Funding						46.4
Other	12.7	2.3	0.2	-15.6	2.5
Total investing cash flows	-15.6	-32.0	-712.8	-730.4	2.2	36.8

Netoperating and investing cash flows	52.7	200.6	-534.8	-379.8	72.6	520.3

1 Maintenance MSR capex assumed to be equivalent to the amortisation charge for the period. FY23 reflects a change in the amortisation period for interest ratesensitive MSRs from 8 to 9 years for US Mortgage Services. FY23 expense is $102.8m and 1H23 expense is $60.8m.

2 Net operating and financing cash flows.

*Net MSR spend of $70.6m in FY23 (purchases of $168.2m and sales of $97.6m) and $102.0m in 1H23 (purchases of $126.6m and sales of $24.6m).

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Exchange Rates

Currency	1H21	FY21	1H22	FY22	1H23	FY23
USD	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000
$166.2m AUD	Up 42.4% 1.3971	1.3464	1.3622	1.3755	1.4895	1.4872
~~Margin~~ HKD	7.7504	7.7550	7.7805	7.8003	7.8423	7.8386
~~31.5%~~ NZD	~~Up 630bp~~ 1.4975	~~s~~ 1.4428	1.4326	1.4653	1.6506	1.6270
INR	74.2471	73.7286	74.3249	75.0340	80.6575	81.4939
CAD	1.3315	1.2921	1.2549	1.2625	1.3278	1.3408
GBP	0.7711	0.7461	0.7310	0.7481	0.8502	0.8319
EUR	0.8529	0.8397	0.8555	0.8821	0.9880	0.9571
RAND	16.5396	15.5863	15.0063	15.2427	17.1471	17.6191
RUB	75.2164	75.0158	72.8569	74.5346	59.2694	67.8286
AED	3.6730	3.6730	3.6729	3.6729	3.6730	3.6728
DKK	6.3501	6.2480	6.3617	6.5614	7.3497	7.1225
SEK	8.8445	8.6095	8.6824	9.0871	10.6446	10.5526
CHF	0.9174	0.9109	0.9189	0.9282	0.9683	0.9423

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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

$166.2m 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 Up 42.4% comparative basis and provides a better measure of underlying operating performance.
MarginManagement adjustments are made on the same basis as in prior years.
• 31.5% The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with AustralianUp 630bps 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 2023

64696_rns_2023-08-14_e678acb9-dd26-4bbf-92e2-041c056255b1.pdf

FY23 Results

Record results, Management EPS +89% versus pcp

Computershare’s integrated business model

Revenue definitions – see slide 43 for detail

FY23 overview

Performing through market uncertainty

FY23 Management results summary

89% uplift in earnings

FY22 to FY23 Management EPS

Higher earnings driven by margin income, growth in core fees and cost out benefits

FY24 Outlook

Management EPS expected to be up around 7.5%

Guidance

FY24 key sensitivities

Key Assumptions

Margin Income and Average Client Balances

FY24 MI guidance now $840m, yields improving and FY23 exit balances expected to be stable

Key sensitivities on FY24 Margin Income

Hedge book updates

Issuer Services

Margin income and Governance Services growth offsets decline in market based revenues

FY23 highlights

Issuer Services Revenue ($m)

Computershare Corporate Trust (CCT)

Margin income a highlight of impressive broader results; integration and synergies remain on track

CAGR 5.2%

Employee Share Plans

Record earnings driven by recovery in transactional revenue in 2H

Management EBIT

FY23 highlights

Revenue excluding Margin Income ($m)

Outstanding shares and options under administration

Mortgage Services

2H return to profitability in US; UK operations stable and profitable

FY23 highlights

Portfolio analysis – shift to sub-servicing driving portfolio growth

Business Services

Strong return to growth in Canadian Corporate Trust; sale of Bankruptcy and Class Actions completed

Management EBIT

FY23 highlights

Revenue excluding Margin Income ($m)

Canadian Corporate Trust, positive long-term trends

Value of Debt under Administration

FY23 Operating expense analysis Inflation drives BAU Opex up 5.6%, moderating in 2H to 5.0%

Cash flow and leverage

Strong balance sheet facilitates increased dividend, share buyback and scope for M&A

Cashflow Waterfall

Balance Sheet Capacity

FY24 priorities – building a simpler Computershare with higher quality earnings

Appendices

1. Constant currency analysis

2. Analysis at actual fx rates

FY23 Management results – constant currency and actual rates

Revenue, Margin Income, EBITDA and EBIT – constant currency

1H23 to 2H23 Management EPS Bridge

Margin income and CCT drive earnings growth

FY23 to FY24 Guidance Management EPS Bridge

Management EPS growth of around 7.5%

ACTUAL FX RATE ANALYSIS

CCT acquisition driving increase in FY23 recurring revenue

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

Computershare Corporate Trust

Employee Share Plans Profit & Loss

UK Mortgage Services Profit & Loss

COMPUTERSHARE LIMITED. Annual Report 2023