COMPUTERSHARE LIMITED. — Interim / Quarterly Report 2021

Feb 8, 2021

FY21 HALF YEAR RESULTS PRESENTATION

9 February 2021

Stuart Irving , Chief Executive Officer and President

Nick Oldfield , Chief Financial Officer

1

1H21 Results

Business performance ahead of plan - interest rates impact earnings, dividend maintained and full year guidance upgraded

Management Revenue Margin Income $1.1bn 3.2% $55.2m 52.4% Management Revenue ex MI Management EBIT ex MI $1.0bn 2.4% $135.2m 9.8%

Management EPS 21.77cps 24.8%

Interim Dividend Per Share (AUD) 23.0cps Maintained

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Notes: All figures in this presentation are presented in USD millions and in constant currency, unless otherwise stated. Reconciliation of statutory to management results can be found on slide 19. 1H21 Management Results include $15.2m of one-off costs.

2

1H21 Management EPS

Strong operating performance and cost out programs driving above target 1H

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28.96
8.36
0.85 3.12 21.77
2.11 ~ 20.00
1.50
5.03
3.52
1.00
USD cps
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1H20 Margin Income Increased One off costs 2 US Mortgage UKAR fixed fee BEAT (timing) 3 Cost out Operating 1H21 1H21 1 Management EPS Amortisation Services reduction program savings earnings growth Management EPS Management EPS foreclosure initial guidance moratorium

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1 Reflects change in the amortisation period for interest rate-sensitive MSRs from 9 to 8 years for US Mortgage Services. 2 One-off costs reflect non recurring regulatory levy and a provision against a receivable for Class Actions.[3 ] Base Erosion and Anti-Abuse Tax for the US.

3

1H21 Summary

Growth in fee revenues and contributions from cyclical businesses

Issuer Services revenue growth

Employee Share Plans transactions recovery

Good contribution from cyclical Bankruptcy business

Consistent fee growth in Corporate Trust

Margin income client balances higher than plan

Volatile market conditions & ongoing foreclosure moratorium impacting US Mortgage Services profit, some revenues deferred

Cost out programs remain on track

Operating Performance supports positive 2H outlook

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4

FY21 Outlook

We upgrade Management EPS to be down around 8% (previously down around 11%)

Guidance

• › In constant currency, for FY21 we expect:

Management EPS (at actual FX rates)

• Management EPS to be down by around 8%[1]

• We expect Management EPS for 2H21 to be around 30.0 cents per share

• EBIT ex Margin Income to be up by around 14%[2]

Key Assumptions

• › Margin Income revenue expected to be around $105m

• › Equity and interest rate markets remain at current levels / in line with current market expectations

• › Group tax rate between 28.0% - 30.0%

• › For constant currency comparisons, FY20 average exchange rates are used to translate the FY21 earnings to USD[3]

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35.0 35.3
32.8
30.6
30.0
29.0 27.2
21.8
1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21
Outlook
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Notes:[1] For comparative purposes FY20 Management EPS is 56.12 cents per share in FY20 constant currency,[2] The base FY20 Management EBIT ex Margin Income is $298.7m in FY20 constant currency; 3 Refer to slide 69 for constant currency conversion rates.

5

2H21 Management EPS guidance bridge

Consistent operational growth and cost out programs support positive 2H outlook

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Growth expected in
Issuer Services,
Employee Share Plans,
US Mortgage Services
and Business Services
~ 30.00
5.82
1.00
2.00
0.70
2.11
21.77
1H Management EPS Margin income reduction One off 1H cost reversal 2H Seasonality BEAT 1H reversal Operational earnings 2H Management EPS
growth
USD cps
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6
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Notes: EPS breakdown is provided for indicative purposes and forms part of EPS Key Assumptions. FY20 Management EPS is 56.12 cents per share in FY20 constant currency, this assumes FY21 Management EPS per guidance, is around 51.77 cents per share. Refer to slide 69 for constant currency conversion rates. *BEAT is expected to reverse in 2H due to timing.

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1H21 Management results summary Revenue growth ex margin income, up 2.4%

	1H21 Actual (at 1H20 CC)	1H20 Actual	Variance		1H21 Actual
Total revenue ex Margin Income	$1,032.7 $1,008.3 +2.4% $55.2 $116.0 -52.4% $1,087.9 $1,124.3 -3.2% $811.8 $787.6 +3.1% $276.5 $336.6 -17.9% $37.6 $38.0 -1.1% $48.5 $32.8 +47.9%				$1,046.9
Margin Income					$55.5
Total revenue					$1,102.5
Operatingcosts					$825.1
EBITDA					$277.7
Depreciation					$38.3 $48.7
Amortisation
EBIT	$190.3 $265.9 -28.4%				$190.8
EBIT ex Margin Income1	$135.2 $149.9 -9.8%				$135.2
Interest expense	$27.5 $36.2 -24.0% $162.8 $229.7 -29.1% $45.1 $72.6 -37.9% $117.8 $157.0 -25.0% 21.77 28.96 -24.8% 75.6% 78.3% -270bps 13.1% 14.9% -180bps 16.8% 22.8% -600bps 10.1% 13.5% -340bps 23.0 23.0 Maintained				$27.6
Profit Before Tax					$163.1
Income tax expense					$45.3
Management NPAT					$117.9
Management EPS (cents)					21.79
Recurring Revenue EBIT ex Margin Income margin (%) ROE2 ROIC3 Interim Dividend Per Share (AUD cents)

Notes:[1] 1H21 results include $15.2m of one off costs.[2] Return of Equity = rolling 12 month Mgmt. NPAT/rolling ave. Total Equity[3] Return on Invested Capital (ROIC) = (Management EBITDA less 7 depreciation & amortisation less income tax expense) /(net debt + total equity)

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Margin Income

Balances above expectations, margin income tracking in line with plan

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25.0 125.2
121.2
116.0 120.0
FY22 margin
income
99.9 expected to
20.0 be around
$80m 100.0
89.4 83.4
86.4
79.6
79.0
74.3 80.0
15.0
69.6
66.6
55.5
60.0
49.5
10.0
40.0
5.0
20.0
15.1 15.2 15.0 16.3 16.6 16.8 17.3 16.6 21.0 16.1 16.8 17.6 17.6 16.4
0.0 0.0
1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21
Outlook
Average balances Margin Income (USD m)
USD million
USD billion
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8

Issuer Services

Globally integrated product offering gaining traction

Mgmt EBIT ex. Margin Income $102.8m 23.3% Margin: 160bps 23.5%

Revenue breakdown	1H21 CC	1H20 Actual	CC Variance
Register Maintenance*	$302.7	$300.9	+0.6%
Corporate Actions Stakeholder Relationship Management	$65.3 $35.2	$48.5 $18.1	+34.6% +94.5%
Issuer Services-Other Margin Income Total revenue*	$34.4 $22.1 $459.8	$12.4 $44.4 $424.3	+177.4% -50.1% +8.4%
Mgmt EBITDA	$126.7	$129.2	-1.9%
Mgmt EBITDA margin	27.5%	30.5%	-300bps
Mgmt EBIT ex Margin Income	$102.8	$83.4	+23.3%
Mgmt EBIT ex Margin Income margin	23.5%	21.9%	+160bps

• Revenue excluding Margin Income

Key Priorities

1 2 3 Continue momentum with client registry wins Expand and cross sell registered agent services Extend our entity management capability		FY18	FY19	FY20	1H21
	Registry Global Net Wins1	293	354	195	139
	Units Under Managementup 9.5% year over year, with 5,800 units added in 1H
	1,500 client entities added globally, now operating in 8 different countries

Global managed shareholder accounts (millions)

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38.5 38.2
38.0
37.5
37.0 36.7
36.5
36.0
35.5
35.0
FY19Q2 FY19Q3 FY19Q4 FY20Q1 FY20Q2 FY20Q3 FY20Q4 FY21Q1 FY21Q2
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Steady growth demonstrated since 2018
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Notes: Unless otherwise specified, percentage differences relevant to 1H20 are on a constant currency basis[1] Excludes uncontrollable losses (eg Delisting, M&A). Corporate Creations acquired in February 2020. Verbatim acquired in July 2020.

9

Employee Share Plans

Improved fee revenue with trading volumes recovering

Mgmt EBIT* ex. Margin Income $14.6m 19.8% Margin: 220bps 11.2%

• *1H21 impacted by $4.5m of one-off regulatory costs associated with Brexit transition. Adjusted EBIT ex MI $19.1m +4.9%, margin 14.6%, +110bps.

Revenue breakdown	1H21 CC	1H20 Actual	CC Variance
Fee Revenue	$67.7	$66.5	+1.8%
Transactional Revenue	$57.3	$61.9	-7.4%
Other Revenue	$5.8	$7.0	-17.1%
Margin Income	$2.2	$6.3	- 65.1%
Total revenue	$132.9	$141.6	-6.1%
Mgmt EBITDA	$19.4	$27.1	-28.4%
Mgmt EBITDA margin	14.6%	19.1%	-450bps
Mgmt EBIT ex Margin Income	$14.6	$18.2	-19.8%
Mgmt EBIT ex Margin Income margin	11.2%	13.4%	-220bps

Key Priorities

Outstanding shares and options under administration

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Continue to win new 1H21 growth net
1 5%
clients new clients
Upgrade to EquatePlus
2 96% EMEA clients upgraded
platform
Dec 2020 value and volume
3 Trading volume recovery of transactions exceeded
pre Covid December 2019
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300 AuA Shares/Options/Units 30
200 20
100 10
- -
FY18Q1 FY18Q2 FY18Q3 FY18Q4 FY19Q1 FY19Q2 FY19Q3 FY19Q4 FY20Q1 FY20Q2 FY20Q3 FY20Q4 FY21Q1 FY21Q2
AuA Billions
Shares/ Options / Units
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• › Q2 improvement in AuA as corporates continued to use equity remuneration to attract, retain and reward employees

• › Outstanding shares & options under administration up 9% per annum post Equatex acquisition

10

Mortgage Services

Foreclosure moratorium and low rates impacting US, UK cost out on track

Mgmt EBIT ex. Margin Income -$2.6m 111.1% Margin: 840bps -0.9%

Revenue breakdown	1H21 CC	1H20 Actual	CC Variance
US Mortgage Services*	$213.1	$209.4	+1.8%
Margin Income	$2.1	$17.9	-88.3%
UK Mortgage Services	$66.3	$101.6	-34.7%
Total revenue	$281.5	$328.9	-14.4%
Mgmt EBITDA1	$47.0	$75.9	-38.1%
Mgmt EBITDA margin	16.7%	23.1%	-640bps
Mgmt EBIT ex Margin Income	-$2.6	$23.4	-111.1%
Mgmt EBIT ex Margin Income margin	-0.9%	7.5%	-840bps

• Revenue excluding Margin Income

Key Priorities

Growth in Sub-Servicing

Growth in US capital light Increase in sub1 +3.2% revenues servicing UPB Recapture UPB pipeline Expansion of recapture 2 $200m since launch in capability December 2020 Delivery of UK cost out $34.8m cost savings 3 program delivered in 1H21

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140.0 800
120.0
600
100.0
80.0
400
60.0
40.0
200
20.0
- 0
Sub-servicing UPB ($) Sub-servicing Loan Count (#) Total UPB ($) Total Loan Count (#)
UPB (USD $B)
Loan Count (k)
Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20
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Notes:[1] UK Mortgage Services EBITDA loss making ($0.6m) in 1H21 and 1H20. 1H21 UK Mortgages EBIT loss of ($1.1m), US Mortgages EBIT ex Margin Income margin -0.7%.

11

Mortgage Services (continued)

US strategy remains on track despite near term earnings pressures

EBIT ex Margin Income Bridge

UK (down 52.8% vs. pcp)

US (down 106.1% vs. pcp)

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9.6
23.4 8.5
34.3
23.5
11.1
2.8 6.3 -2.6
1.5
1H20 actual UKAR Fixed Fee UK Cost out UK Reduced Accelerated run- Foreclosure One off expense Amortisation Underlying 1H21 CC actual
reduction activity off moratorium policy change business
improvement
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US Dashboard

$65.9m 1H net spend (receipts from sales MSR $27.6m). 2H expected to be lower and below investment amortization expense for full year. MSR pricing Upwards pressure but remains below pcp.

Portfolio Capital light revenues

Lower mortgage rates driving elevated run-off levels and consequential 2.3% UPB reduction. Recapture solution deployed.

Strong pipeline of servicing and fulfilment revenues delivering 2H revenue growth.

Net servicing advances

$2.7m higher than 30 Jun 20 reflects seasonal peak; 2H decline expected

Forbearances

c. 40k loans in forbearance at 31 Dec 20, approx. 90% 30 days or more past due.

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12

Business Services

Continued growth in Corporate Trust fee revenue, strong Bankruptcy contribution

Mgmt EBIT ex. Margin Income $12.9m 55.4% Margin: 360bps 13.1%

Revenue breakdown	1H21 CC	1H20 Actual	CC Variance
Corporate Trust*	$26.0	$24.2	+7.4%
Bankruptcy*	$41.3	$18.5	+123.2%
Class Actions*	$31.5	$45.3	-30.5%
Margin Income	$15.8	$32.9	-52.0%
Total revenue	$114.6	$120.8	-5.1%
Mgmt EBITDA	$29.6	$41.7	-29.0%
Mgmt EBITDA margin	25.8%	34.5%	-870bps
Mgmt EBIT ex Margin Income	$12.9	$8.3	+55.4%
Mgmt EBIT ex Margin Income margin	13.1%	9.5%	+360bps

• Revenue excluding Margin Income

Key Priorities

Corporate Trust - positive long term trends

1 2 3

FY21 YoY growth in Expansion in Corporate 44% US Corporate Trust Trust US Services mandates 1H21 revenue has Bankruptcy Revenue 2x doubled from Growth 1H20

Class Action case Deliver on Global Class Global wins in South Action opportunities Africa, UK and US

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Debt under Administration Fee Revenue
2,500 10- year CAGR 4.9% 60,000 10-year CAGR 6.4%
2,000 50,000
40,000
1,500
30,000
1,000
20,000
500
10,000
- 0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Q2
$CAN Bn USD '000s
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13

Operating expense analysis

Cost out programs delivering 6.3% BAU operating expense reduction

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199.7
171.2
811.8
787.6
BAU Opex -6.3%
14.3
15.2
34.5
13.8
616.4 10.0 5.5 612.1
577.6
1H20 Less 1H20 1H20 UK Mortgage Cost out Underlying 1H BAU cost Acquisitions Investment in One off 1H21 Add 1H21 1H21
Operating cost of sales operating Services asset program inflation base Growth 2 costs 3 operating cost of sales Operating
costs expenses migration savings expenses costs
1
program
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1 Reflects the IT costs incurred as part of the migration to a single platform. 2 Increased costs in line with revenue growth for Corporate Actions, Stakeholder Management Relationship and Bankruptcy. 3 One off costs reflect non recurring regulatory levy, historical payroll liability and significant doubtful receivable for Class Actions.

14

Cost out programs – 1H21

Expanded cost out opportunity in UK Mortgage Services

$M Activity	Total cost savings estimates	FY17A	FY18A	Benefit realisation (cumulative) FY19A FY20A FY21E FY21 change vs. last disclosure2	Benefit realisation (cumulative) FY19A FY20A FY21E FY21 change vs. last disclosure2	Benefit realisation (cumulative) FY19A FY20A FY21E FY21 change vs. last disclosure2	Benefit realisation (cumulative) FY19A FY20A FY21E FY21 change vs. last disclosure2	FY22E	FY23E	Stage Total change vs. last disclosure2
Stage 1 Total	25 - 30	7.8	14.0	21.8	28.1	28.1	►0.0m	28.1	28.1	►0.0m
Stage 2 Total	60 - 70	5.9	35.4	54.1	62.9	64.8	▼(0.2m)	66.6	66.6	►(0.2m)
Stage 3 Total	40 - 55			4.3	15.5	38.3	▼(3.2m)	49.2	60.9	►0.0m
Total estimate	125 - 155	13.7	49.4	80.1	106.5	131.3	▼(3.4m)	143.9	155.6	▼(0.2m)
Equatex synergies	30				7.2	14.3	▼(4.0m)	30.0	30.0	►0.0m
UK Mortgage Services1	65				16.6	45.7	▲9.3m	64.4	64.4	▲14.4m
Total cost savings	220-250	13.7	49.4	80.1	130.3	191.2	▲2.0m	238.3	250.0	▲14.1m
Cost to achieve (post tax)3		20.5	13.4	14.8	14.8	25-30		25-30	5-10

• › UK Mortgage Services cost out program progressing well, target upgraded from $50m to $65m

• › Equatex synergies still on track with cumulative benefits of $30m expected. There are some shifts in timing of initiatives impacting the FY21 estimate

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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 FY20[3 ] Costs to achieve are not cumulative and also excludes Equatex acquisition related expenses, in line with FY20 disclosure.

15

Cash flow and leverage

1H21 Interim Dividend maintained. Net debt to EBITDA ratio within target range

Cashflow Waterfall

Net Debt / EBITDA[1] (x)

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8.0
124.1
45.1
7.5
71.0
20.8
89.0
-46.3
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Net operating Capex MSR Free cash Acquistions MSR Dividends Net cash flow cash flow Maintenance flow investment*

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2.25x
2.24x
Leverage
target 1.97x 1.93x
range
1.75x
1H20 FY20 1H21
1,340.1 1,244.9 1,316.6
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Net Debt (USD M)

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Notes:[] Verbatim and deferred consideration paid[*] MSR Investments is net of excess strip sales. Gross proceeds from sale of MSR’s $27.6m.[1 ] Excludes non-recourse SLS Advance debt

16

Conclusions

• › 1H21 Management EPS tracking ahead of plan

• Computershare’s operating businesses are performing: +2.4% revenue growth ex MI

• Good growth in recurring fee revenues, c. 76% of group total

• Contributions from increased activity in cyclical businesses

• › Record low interest rates impact MI

• 1H21 $55m, FY21 $105m, FY22 c.$80m

• › Continuing to focus on what we can control. BAU opex -6.3% with upgraded targets from cost out programs

• › Strong operating performance in 1H21 supports full year guidance upgrade

• EBIT ex MI, up around 14% (previous guidance up around 10%)

• Management EPS down around 8% (previously down around 11%)

• › Executing our strategy to build stronger, more efficient businesses with greater leverage to positive structural growth trends

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17

APPENDICES

Statutory results

Management Revenue, EBITDA and EBIT analysis Operating cost analysis 1H21 Management NPAT analysis Management EPS – AUD equivalent Effective tax rate Dividend history and franking Cash Flow analysis Balance Sheet Key financial ratios Debt facility maturity profile CAPEX versus depreciation Technology costs Financial performance by half year at actual FX rates 1H21 Computershare at a glance Recurring revenue Register Maintenance and Employee Share Plans Mortgage Services Management revenue by region Client balances Exchange rates

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18

Statutory results

	1H21	**1H20 **	Vs 1H20 (pcp)
Total Revenues	$1,113.7m	$1,125.8m	-1.1%
Total Expenses	$1,009.7m	$940.3m	+7.4%
Statutory Net Profit (post NCI)	$72.6m	$124.7m	-41.8%
Earnings per share (post NCI)	13.41 cents	23.00 cents	-41.7%

Reconciliation of Statutory Revenue to Management Results	1H21
Total Revenue per statutory results	$1,113.7m
Management Adjustments
Marked to market adjustments – derivatives	($0.2)
Gain on Disposal of the Group's shareholding in Euroclear Holding SA/NV	($11.0)
Total Management Adjustments	($11.2)
Total Revenue per Management Results	$1,102.5m

Reconciliation of Statutory NPAT to Management Results	1H21
Net profit after tax per statutory results	$72.6m
Management Adjustments (after tax)
Amortisation	$21.4
Acquisitions and Disposals	$4.7
Other	$19.2
Total Management Adjustments	$45.3
Net Profit after tax per Management Results	$117.9m

• › Management results are used, along with other measures, to assess operating business performance. The Company believes that exclusion of certain items permits better analysis of the Group’s performance on a comparative basis and provides a better measure of underlying operating performance.

• Management adjustments are made on the same basis as in prior years.

• ›

• Non-cash management adjustments include significant amortisation of identified intangible assets from businesses acquired in recent years, which will recur in subsequent years, asset disposals and other one-off charges.

• ›

• › Cash adjustments are predominantly expenditure on acquisition-related and other restructures and will cease once the relevant acquisition integrations and restructures are complete.

• A full description of all management adjustments is included on slide 20.

• ›

• 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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19

Management adjustment items Appendix 4D note 2

Amortisation

• › Customer relationships and most of other intangible assets that are recognised on business combinations or major asset acquisitions are amortised over their useful life in the statutory results but excluded from management earnings. The amortisation of these intangibles in the half-year ended 31 December 2020 was $21.4 million. Amortisation of mortgage servicing rights, certain acquired software as well as intangibles purchased outside of business combinations is included as a charge against management earnings.

Acquisitions and disposals

• › Acquisition related expenses of $12.5 million were incurred for the ongoing integration of Equatex and $1.2 million were for restructuring costs associated with recent acquisitions.

• › Disposal of the Group's shareholding in Euroclear Holding SA/NV resulted in a gain of $8.9 million.

Other

• › Costs of $19.3 million were incurred in the current reporting period in respect of major restructuring programmes spanning several years. These comprised specified significant cost-out initiatives, related workforce reductions and property rationalisations. In the current reporting period, these costs related mainly to UK mortgage services.

• › Derivatives that have not received hedge designation are marked to market at the reporting date and taken to profit and loss in the statutory results. The marked to market valuation resulted in a gain of $0.1 million.

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20

Management revenue bridge

Increased operating revenue from Issuer Services and Bankruptcy

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1,200
1,180
31.7
1,160 4.4 2.4
57.7
10.8
5.6
1,140
1,120 1,124.3 60.8
1,100
14.6 1,102.5
1,080 1,087.9
1,060
1,040
1H20 Mgt Issuer Services Mortgage Employee Share Business CCS and Corporate & Margin Income 1H21 @ CC Mgt FX 1H21 Mgt
Revenue Services & Plans & Voucher Services Utilities Technology Revenue Revenue
Property Rental Services
Services
USD M
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21

Management revenue by business stream

Revenues down 3.2%, +2.4% excluding Margin Income

	1H21 Rev @ CC	1H21 MI @ CC	1H21 Rev ex MI @ CC	1H20 Rev	1H20 MI	1H20 Rev ex MI		Rev CC Variance	Rev ex MI CC Variance
Issuer Services	$459.8	$22.1	$437.7	$424.3	$44.4	$380.0		+8.4%	+15.2%
Mortgage Services & Property Rental Services	$294.8	$15.0	$279.8	$343.9	$32.3	$311.5		-14.3%	-10.2%
Employee Share Plans & Voucher Services	$139.0	$2.2	$136.8	$148.8	$6.4	$142.4		-6.6%	-3.9%
Business Services	$114.6	$15.8	$98.8	$120.8	$32.9	$88.0		-5.1%	+12.3%
Communication Services & Utilities	$78.7	-	$78.7	$83.1	-	$83.1		-5.3%	-5.3%
Corporate & Technology	$0.9	-	$0.9	$3.3	-	$3.3		-72.7%	-72.7%
Total Group	$1,087.9	$55.2	$1,032.7	$1,124.3	$116.0	$1,008.3		-3.2%	+2.4%

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22

Revenue excluding Margin Income at actual FX rates

Revenue breakdown	1H21 Actual	1H20 Actual	2H20 Actual	FY20 Actual	1H19 Actual	2H19 Actual	FY19 Actual
Register Maintenance*	$306.4	$300.9	$324.9	$625.8	$314.1	$344.0	$658.2
Corporate Actions*	$66.4	$48.5	$44.9	$93.4	$47.7	$40.4	$88.0
Stakeholder Relationship Management*	$35.5	$18.1	$40.6	$58.7	$35.5	$31.8	$67.3
Issuer Services-Other*	$34.6	$12.4	$25.8	$38.2	$13.4	$12.5	$25.9
Margin Income	$22.1	$44.4	$34.3	$78.7	$61.1	$51.3	$112.4
Total Issuer Services Revenue	$465.0	$424.3	$470.4	$894.7	$471.8	$480.0	$951.9
US Mortgage Services*	$213.1	$209.4	$205.1	$414.5	$146.6	$184.4	$331.0
US Mortgage Services Margin Income	$2.1	$17.9	$6.3	$24.2	$12.9	$16.9	$29.8
UK Mortgage Services	$68.7	$101.6	$95.0	$196.6	$128.0	$127.1	$255.2
Total Mortgage Services Revenue	$283.9	$328.9	$306.5	$635.4	$287.4	$328.5	$615.9
Corporate Trust*	$25.8	$24.2	$30.6	$54.8	$25.9	$25.9	$51.8
Bankruptcy*	$41.3	$18.5	$28.8	$47.3	$13.2	$25.5	$38.7
Class Actions*	$31.6	$45.3	$40.0	$85.3	$47.4	$51.8	$99.2
Margin Income	$15.7	$32.9	$23.3	$56.2	$30.7	$29.4	$60.0
Karvy	-	-	-	-	$16.9	$0.1	$17.0
Total Business Services Revenue	$114.4	$120.8	$122.8	$243.6	$134.1	$132.6	$266.7

• Revenue excluding Margin Income

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23

EBITDA by business stream

EBITDA ex Margin Income $221.3m, up 0.3%

	1H21 EBITDA @ CC	1H20 EBITDA	CC Variance	1H21 @ CC Op. Margin	1H20 Op. Margin		1H21 EBITDA ex MI @ CC	1H20 EBITDA ex MI	Ex MI CC Variance	1H21 ex MI @ CC Op. Margin	1H20 ex MI Op. Margin
Issuer Services	$126.7	$129.2	-1.9%	27.5%	30.5%		$104.5	$84.8	+23.2%	23.9%	22.3%
Mortgage Services & Property Rental Services	$53.4	$82.1	-35.0%	18.1%	23.9%		$38.4	$49.7	-22.7%	13.7%	16.0%
Employee Share Plans & Voucher Services	$23.8	$31.8	-25.2%	17.1%	21.4%		$21.6	$25.4	-15.0%	15.8%	17.9%
Business Services	$29.6	$41.7	-29.0%	25.8%	34.5%		$13.8	$8.8	+56.8%	14.0%	10.0%
Communication Services & Utilities	$10.7	$14.0	-23.6%	13.6%	16.8%		$10.7	$14.0	-23.6%	13.6%	16.8%
Corporate & Technology	$32.3	$37.9	-14.8%	n/a	n/a		$32.3	$37.9	-14.8%	n/a	n/a
Total Group	$276.5	$336.6	-17.9%	25.4%	29.9%		$221.3	$220.6	+0.3%	21.4%	21.9%

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24

EBIT by business stream

EBIT ex Margin Income $135.2m, down 9.8%

	1H21 EBIT @ CC	1H20 EBIT	CC Variance	1H21 @ CC Op. Margin	1H20 Op. Margin		1H21 EBIT ex MI @ CC	1H20 EBIT ex MI	Ex MI CC Variance	1H21 ex MI @ CC Op. Margin	1H20 ex MI Op. Margin
Issuer Services	$125.0	$127.7	-2.1%	27.2%	30.1%		$102.8	$83.4	+23.3%	23.5%	21.9%
Mortgage Services & Property Rental Services	$5.1	$46.8	-89.1%	1.7%	13.6%		-$9.9	$14.5	-168.3%	-3.5%	4.7%
Employee Share Plans & Voucher Services	$21.2	$29.2	-27.4%	15.3%	19.6%		$19.0	$22.8	-16.7%	13.9%	16.0%
Business Services	$28.7	$41.2	-30.3%	25.0%	34.1%		$12.9	$8.3	+55.4%	13.1%	9.5%
Communication Services & Utilities	$8.4	$12.2	-31.1%	10.7%	14.7%		$8.4	$12.2	-31.1%	10.7%	14.7%
Corporate & Technology	$1.9	$8.7	-78.2%	n/a	n/a		$1.9	$8.7	-78.2%	n/a	n/a
Total Group	$190.3	$265.9	-28.4%	17.5%	23.6%		$135.2	$149.9	-9.8%	13.1%	14.9%

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25

Revenue, EBITDA and EBIT by business stream at actual FX rates

	1H21	1H21	1H21	1H21	1H21		1H20	1H20	1H20	1H20	1H20
	REV	EBITDA	EBITDA MARGIN %	EBIT	EBIT Margin %		REV	EBITDA	EBITDA MARGIN %	EBIT	EBIT Margin %
Issuer Services	$465.0	$127.9	27.5%	$126.2	27.1%		$424.3	$129.2	30.5%	$127.7	30.1%
Mortgage Services & Property Rental Services	$297.8	$53.6	18.0%	$5.3	1.8%		$343.9	$82.1	23.9%	$46.8	13.6%
Employee Share Plans & Voucher Services	$143.0	$23.9	16.7%	$21.2	14.8%		$148.8	$31.8	21.4%	$29.2	19.6%
Business Services	$114.4	$29.5	25.8%	$28.6	25.0%		$120.8	$41.7	34.5%	$41.2	34.1%
Communication Services & Utilities	$81.4	$10.9	13.4%	$8.6	10.6%		$83.1	$14.0	16.8%	$12.2	14.7%
Corporate & Technology	$0.9	$31.8	n/a	$0.9	n/a		$3.3	$37.9	n/a	$8.7	n/a
Total Group	$1,102.5	$277.7	25.2%	$190.8	17.3%		$1,124.3	$336.6	29.9%	$265.9	23.6%

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26

Management revenue and EBITDA at actual FX rates

Revenue by Region

EBITDA by Region

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

1,400.0 400.0
336.6
1,156.9 350.0
1,200.0 1,124.3
1,102.5 309.7
93.7 47.4
92.1
81.6 300.0 277.7
1,000.0 38.1
34.9
250.0
800.0
595.4
576.6 574.5
200.0
202.0
600.0 190.3
153.4
150.0
36.8 50.7 42.4
400.0
100.0
258.7 268.3 215.8 7.8 2.9 4.4
32.6
200.0 50.0 41.1 50.4
76.8
52.4
60.1 38.4
21.3
107.7 88.7 111.4 16.9 23.0 14.1
0.0 0.0 5.2
1H20 2H20 1H21 1H20 2H20 1H21
USD M USD M
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Australia & NZ Asia UCIA Continental Europe USA Canada

Australia & NZ Asia UCIA Continental Europe USA Canada

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27

Management EBITDA excluding the impact of Margin Income and FX movements increased by 0.3% in 1H21 versus pcp

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447.0
431.2
425.2
401.7
369.3
355.0
318.7
252.8
220.6 221.3
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21
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Note: Management EBITDA translated at FY20 average rates and excludes Margin Income. EBITDA ex MI includes IFRS16 benefit of $23.4m in 1H20 and $23.9m in 1H21.

28

Operating cost analysis

Cost out programs delivering 6.3% BAU operating expense reduction

	1H21 @ CC	1H20	CC Variance		1H21
Cost of Sales	$199.7	$171.2	+16.6%		$202.9
Personnel	$494.1	$489.9	+0.9%		$502.3
Fixed/Perm	$477.5	$465.8	+2.5%		$485.4
Variable/Temp	$16.6	$24.1	-31.1%		$16.9
Occupancy	$17.1	$16.1	+6.2%		$17.5
Other Direct	$58.2	$60.3	-3.5%		$58.9
Computer/External Technology	$42.7	$50.0	-14.6%		$43.5
Total Operating Costs	$811.8	$787.6	+3.1%		$825.1

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Notes: Refer to slide 39 for Technology costs at actual FX rates. Computer/External technology includes hardware, software licenses, network and voice costs, 3[rd] party vendor fees and data centre costs. Acquisitions: Corporate Creations (February 20) and Verbatim (July 20).

29

1H21 Management NPAT analysis

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180
160
157.0 14.7
140
0.1 0.1
120
60.8 117.8 117.9
27.6
100
8.7
80
60
40
20
0
USD M
(ex MI) Interest Tax FX
Mgt EBIT
1H20 NPAT Margin Income Non-controlling interest 1H21 @ CC NPAT 1H21 NPAT
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30

Management EPS – AUD Equivalent

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Management EPS (AUD)
1
0.9139
140
0.9
0.8389
0.7758
120 0.7521 0.8
0.7273 0.7177 0.7158
0.6716 0.7
100
97.87 97.87 0.6
80
81.69 83.56 0.5
75.74
71.31 72.35
60 65.92 0.4
0.3
40
42.35
0.2
30.44
20
0.1
0 0
FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21
AUD/USD average exchange rate
Exchange rate
Cents per share
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31

Effective tax rate

Statutory and management (at actual FX rates)

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34%
33%
32.8%
32%
31.6%
31%
30.5%
30%
29.6%
29%
28%
28.2%
27.8%
27%
26%
25%
1H20 FY20 1H21
Statutory Management
Tax Rate %
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› The Group’s statutory effective tax rate has decreased from 32.8% in 1H20 to 30.5% in 1H21.

› The Group’s management effective tax rate has decreased from 31.6% in 1H20 to 27.8% in 1H21.

› This is due to lower BEAT recognised in 1H21 and profit mix with proportionately more profits arising in countries with lower tax rates.

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32

Dividend history and franking 1H21 Interim Dividend maintained

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25.0
23 23 23 23
20.0 21 21
19 19
17 17
15.0 16 16
15 15
14
10.0
5.0
0.0
1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21
Dividend (AU cents)
Franking (%)
1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21
20% 20% 20% 25% 100% 20% 30% 0% 0% 100% 30% 30% 30% 30% 100%
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33

Cash flow summary at actual FX rates

Free cash flows, $71.0m, down -65.6% largely due to lower 1H21 profit before tax and higher tax payments

and higher taxpayments
	1H21 Actual	1H20 Actual
Net operating receipts and payments Net interest and dividends Income taxes paid Net operating cash flowsexcludingSLS advances Cash outlay on business capital expenditure Net cash outlay on MSR purchases – Maintenance1	$238.9 $312.2 ($38.2) ($33.3) ($76.6) ($28.6)
	$124.1 $250.3 ($8.0) ($14.0) ($45.1) ($29.7)
Free cash flowexcluding SLS advances	$71.0	$206.6
SLS advance funding requirements2 Cash flow post SLS advance funding2 Investing cash flows Net cash outlay on MSR purchases – Investments1 Acquisitions (net of cash acquired) Other Net operating and investing cash flows	($2.7) ($41.5)
	$68.3 $165.1 ($20.8) ($109.6) ($7.5) ($6.8) $12.7 $4.6
	($15.6) ($111.8)
	$52.7 $53.3

1 Maintenance MSR capex assumed to be equivalent to the amortisation charge for the period

34 2 Net operating and financing cash flows

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Balance Sheet

Levera e ratio within tar et ran e 1.75x – 2.25x g g g

	Dec-20	Jun-20	Variance
Current Assets	$1,491.1	$1,432.0	+4.0%
Non Current Assets	$3,663.6	$3,557.8	+3.0%
Total Assets	$5,154.7	$4,989.7	+3.3%
Current Liabilities	$837.3	$1,024.6	-18.3%
Non Current Liabilities	$2,689.7	$2,374.8	+13.3%
Total Liabilities	$3,527.0	$3,399.4	+3.8%
Total Equity	$1,627.7	$1,590.3	+2.4%
Net debt1	$1,316.6	$1,244.9	+5.8%
Net debt to EBITDA ratio1	2.24	1.93	+0.31 times
ROE2	16.8%	19.5%	-270bps
ROIC3	10.1%	12.2%	-210bps

1 Excluding non-recourse SLS Advance debt.

2 Return on equity (ROE) = rolling 12 month Mgt NPAT/rolling 12 mth avg Total Equity. -270 bps reduction reflects reduced earnings.

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

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35

Key financial ratios

	Dec-20 USD m	Jun-20 USD m	Variance
Interest Bearing Liabilities including SLS advance debt	$2,154.0	$2,029.8	-6.1%
Less Cash	($592.4)	($597.3)	-0.8%
Net Debt including non-recourse SLS advance debt	$1,561.6	$1,432.5	+9.0%
Net debt excluding non-recourse SLS advance debt	$1,316.6	$1,244.9	+5.8%
Management EBITDA	$587.5	$646.4	-9.1%
Net Financial Indebtedness to EBITDA	2.66 times	2.22 times	Up 0.44 times
Net Financial Indebtedness to EBITDA1	2.24 times	1.93 times	Up 0.31 times

Net Financial Indebtedness to EBITDA

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EBITDA Interest Coverage Net Financial Indebtedness to EBITDA
10.2x 3.00x
10.0x 10.1x
2.50x
2.66x
9.8x
2.00x 2.28x 2.22x 2.24x
9.6x 9.7x 1.97x 1.93x
1.50x
9.4x
1.00x
9.2x 9.3x
0.50x
9.0x
8.8x 0.00x
1H20 2H20 1H21 1H20 2H20 1H21
Net debt to EBITDA ratio Net debt (excl. non-recourse SLS Advance debt) to EBITDA ratio
Times Times
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1 Excludes non-recourse SLS advance debt

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36

Debt maturity profile

0 100 200 300 400 500 600 700 800 USD M								Maturity Dates USD million	Debt Drawn	Debt Drawn	Debt Drawn	Committed Debt Facilities		Bank Debt Facility	Private Placement Facility	Private Placement Facility	SLS Advance Facility
								FY21 Jun-21 FY22 Aug-21 Feb-22 Mar-22 FY23 Dec-22 Apr-23	26.8 83.8 220.0 100.0 126.0 428.8			75.0 125.0 220.0 100.0 225.0 450.0		100.0 450.0	220.0		75.0 125.0 225.0
								FY24 Jul-23 Feb-24	50.0 220.0			50.0 220.0		50.0	220.0
						245.0		Jun-24 FY26 Nov-25 FY29 Nov-28	255.0 200.0 350.0			500.0 200.0 350.0		500.0	200.0 350.0
	21.2
								TOTAL	$2,060.4			$2,515.0		$1,100.0	$990.0		$425.0
														350.0
						50.0
		100.0		428.8		255.0
		83.8
		220.0				220.0										350.0
	26.8			126.0						200.0
	FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 USPP SLS non-recourse advance facilities drawn Syndicated debt drawn Bilateral debt facilities Undrawn syndicated & bilateral facilities

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37 Note: Average debt facility maturity is 3.3 years as at 31-Dec-20.

Capital expenditure versus depreciation at actual FX rates

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20 45.0
39.5
18 38.0 38.3 40.0
16
35.0
13.6
14 13.2
0.4 30.0
0.7
12 1.0
10.6
4.1 25.0
0.1
10
3.6
0.2 2.3 20.0
8
1.5
15.0
6
9.0 10.0
4 7.8
6.6
5.0
2
0 0.0
1H20 2H20 1H21
Information Technology Communication Services Occupancy Other Depreciation
Depreciation USD M
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38

Technology costs at actual FX rates

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

USD M
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----- Start of picture text -----

200 14.0%
12.6%
12.4%
180 12.0%
12.0%
160
142.2 144.0
10.0%
140 7.2 132.3
7.6
6.4
26.2
120 29.6
22.1 8.0%
100
6.0%
80 59.0
57.3 55.2
60
4.0%
40
2.0%
47.7 51.5 48.5
20
0 0.0%
1H20 2H20 1H21
Development Infrastructure Maintenance Admin Technology costs as a % of revenue
Technology costs as a % of revenue
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39 Technology costs include personnel, occupancy and other direct costs attributable to technology services

Financial erformance b half ear at actual FX rates p y y

	1H21	2H20	1H20	2H19	1H19	2H18	1H18	2H17	1H17	2H16	1H16	2H15	1H15	2H14	1H14
Total Management Revenue $1,102.5 $1,156.9 $1,124.3 $1,228.7 $1,127.8 $1,173.1 $1,127.8 $1,110.8 $1,003.2 $1,035.5 $938.7 $1,016.5 $959.5 $1,045.7 $976.9
Operating Costs $825.1 $847.3 $787.8 $885.2 $795.4 $843.4 $835.2 $811.6 $762.3 $744.5 $695.7 $720.7 $699.0 $771.7 $709.2
Management EBITDA	$277.7	$309.8	$336.6	$343.5	$331.4	$329.3	$293.4	$299.5	$241.3	$290.3	$242.3	$294.8	$259.3	$273.6	$267.0
EBITDA Margin % 25.2% 26.8% 29.9% 28.0% 29.4% 28.1% 26.0% 27.0% 24.1% 28.0% 25.8% 29.0% 27.0% 26.2% 27.3%
Management Profit Before Tax $163.1 $202.0 $229.7 $264.6 $258.8 $260.3 $232.2 $239.6 $187.6 $235.0 $192.2 $244.2 $211.1 $220.9 $215.0
Management NPAT	$117.9	$146.8	$157.0	$191.5	$189.9	$177.9	$166.8	$156.7	$140.6	$159.7	$143.8	$172.1	$160.6	$171.5	$163.6
Management EPS (US cents)	21.79	27.16	28.96	35.27	34.97	32.76	30.62	28.67	25.74	29.11	25.98	30.94	28.88	30.83	29.41
Management EPS (AU cents)	30.44	41.21	42.35	49.84	48.03	42.31	39.38	38.22	34.13	39.78	35.96	39.28	32.03	33.93	31.98
Statutory EPS (US cents)	13.41	19.97	23.00	28.80	47.77	23.74	31.43	21.28	27.48	13.33	15.22	24.82	2.79	20.13	25.07
Net operating cash flows^ $124.1 $344.1 $250.3 $235.0 $176.6 $253.7 $199.3 $247.0 $173.3 $214.5 $158.5 $247.3 $169.4 $221.7 $223.7 Days Sales Outstanding 57 58 61 60 65 59 57 60 56 56 53 48 46 45 42 Dividend (AU cents) 23 23 23 23 21 21 19 19 17 17 16 16 15 15 14 Franking (%) 100% 30% 30% 30% 30% 100% 0% 0% 30% 20% 100% 25% 20% 20% 20% Net debt to EBITDA 2.24 1.93 1.97 1.84 1.88 1.33 1.58 1.60 1.91 2.12 2.06 1.86 2.10 1.96 2.09*

• ^ Excluding SLS advances

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

Notable acquisitions: Olympia Finance Group Inc (7[th] Oct 13), Registrar and Transfer Company (1[st] May 14), Homeloan Management Limited (17[th] Nov 14), Valiant (1[st] May 15), Gilardi & Co. LLC (28[th] Aug 15), SyncBASE Inc (1[st] Feb 16), Capital Markets Cooperative LLC (29[th] Apr 16), Equatex Group Holding AG (9[th] Nov 18), LenderLive Financial Services, LLC (31[st] Dec 18), Corporate Creations (28[th] February 20), Verbatim LLC (1[st] July 20).

Notable divestments: Highland Insurance (27[th] Jun 14), Pepper (30[th] Jun 14), ConnectNow (30[th] Jun 15), Closed Joint Stock Company "Computershare Registrar" and Computershare LLC Russia (16[th] Jul 15), VEM Aktienbank AG (31[st] Jul 15), INVeSHARE (16[th] Sep 16), Karvy – 50% interest (17[th] Nov 18)

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40

1H21 Computershare at a glance

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Management revenue @ CC Management EBITDA @ CC
Canada ANZ Canada ANZ
7% 10% 13% 5% Asia
Asia
14%
7%
UCIA
UCIA
$1,087.9m $276.5m 11%
19%
CEU
USA 1%
53% CEU
USA
4%
56%
Communication
Services & Corporate & Technology Corporate & Technology
Utilities 0% Communication 12%
7% Services &
Utilities
Business 4%
Services
11% Issuer Services
42% Business Issuer Services
46%
Services
Employee 11%
Share Plans & Vouchers $1,087.9m Mortgage $276.5m Mortgage
13% Services & Employee Services &
Property Share Plans & Property
Rental Vouchers Rental
Services 8% Services
27% 19%
By geography
By business stream
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41

High quality core industrial drives consistent operating performance EBIT margin 23.1% - in line with 10 year 1H performance range; 17.3-25.8%[*]

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30%
2,000
25%
1,500
20%
17.3%
1,128 1,128 1,124
1,102
986 977 960 939 1,003 15%
1,000
245
270
296 269
781 217
287 246 233 222
10%
256
500 Recurring revenues
down 270 bps,
5%
75.6% of Group total
525 700 731 727 716 786 832 858 880 833
0 0%
1H12 1H13 1H14 1H15 1H16 1H17 1H18 1H19 1H20 1H21
Recurring Non recurring EBIT Margin
%
USD M
Total Revenue EBIT margin
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• Based on 10 year 1H average at actual FX rates.

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42

Global Register Maintenance and Employee Share Plans revenue

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Registry Maintenance @ CC Employee Share Plans @ CC
Margin Oth Rev
Holder/Broker Income 4%
paid 2%
28%
Issuer paid
68%
$314.2m $132.9m
Transaction Fee
43% 51%
Margin
income
4%
Oth Rev
Holder/Broker Margin 5%
Income
paid
4%
30% Issuer paid
64%
$320.9m
$141.6m Fee
47%
Transaction
Margin
44%
income
6%
1H21 @ CC
1H20
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43

Financial snapshot – US Mortgage Services

1H21 revenue composition

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Other Base
service fees Servicing
•
35% Fees Base servicing fees, $107.9m, +4.0%
50%
•
Margin Income $2.1m, -88.3%
$215.2m
•
Servicing related fees $29.8m, +26.5%
•
Other services fees $75.4m, -8.1%
Servicing
related fees Margin
Income
14%
1%
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	Dec-20	Jun-20	Annual Report reference
Net Loan Servicing Advances	$91.5	$88.8	• Note 16 Loan servicing advances • Note 14 Borrowings	▪ Loan servicing advances ▪ SLS non-recourse lendingfacility
Net MSR intangible asset	$489.7	$458.2	• Note 9 Intangible assets • Note 25 Mortgage servicingrelated liabilities	▪ Mortgage servicing rights ▪ Mortgage servicingrelated liabilities
Investment in SPVs	$32.8	$35.6	• Note 13 Financial assets and liabilities at fair value through profit or loss	▪ Investment in structured entities
Other intangible assets1	$68.8	$70.2	• Note 9 Intangible assets	▪ Goodwill; Other
Total invested capital	$682.8	$652.8
Net cash payments for MSR purchases	$65.9	$185.0	• Cashflow statement	▪ Investing cash flow - Payments for intangible assets including MSRs
MSR amortisation	$45.1	$64.5	• Note 3 Expenses	▪ Total Amortisation(net)

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

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44

US and UK Mortgage Services – UPB and number of loans US Mortgage Services UPB down 2.3% ($115.8bn v $118.5bn)

		Performing	Performing	Non-performing	Non-performing
		At 31 Dec 20	At 30 Jun 20	At 31 Dec 20	At 30 Jun 20
	Fully-Owned	$28.7bn	$31.5bn	$9.4bn	$9.2bn
	MSRs1	122K Loans	131K Loans	79K Loans	85K Loans
U.S.	Part-Owned MSRs2 Subservicing3	Excess strip deals $20.8bn 111K Loans $28.2bn 163K Loans	Excess strip deals $20.2bn 103K Loans $27.8bn 163K Loans	SPV deals $17.8bn 95K Loans $10.8bn 114K Loans	SPV deals $19.9bn 104K Loans $10.0bn 110K Loans
	Total US UPB	$77.7bn	$79.4bn	$38.1bn	$39.1bn
U.K.	Fee for Service3,4	£42.9bn 307k Loans	£44.5bn 339K Loans	£4.0bn 30K Loans	£4.5bn 33K Loans

1 CPU owns the MSR outright

• 2 CPU has sold part of the MSR to a third party investor

3 Servicing performed on a contractual basis

4 UK includes bureau UPB value, but excludes the number of bureau loans

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45

Mortgage Services Revenue and EBITDA at actual FX rates

	1H18	2H18	1H19	2H19	1H20	2H20	1H21
US Mortgage Services revenue	$143.4 $162.7 $159.4 $201.3 $227.3 $211.4 $215.2
UK Mortgage Services revenue	$122.1 $132.9 $128.0 $127.1 $101.6 $95.0 $68.7
Total Mortgage Services revenue	$265.4	$295.6	$287.4	$328.5	$328.9	$306.5	$283.9
Total Mortgage Services EBITDA	$56.0	$67.6	$59.2	$75.3	$75.6	$51.7	$47.0
EBITDA Margin %	21.1% 22.9% 20.6% 22.9% 23.0% 16.9% 16.6%

EBITDA Margin

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22.9% 22.9% 23.0%
21.1% 20.6%
16.9% 16.6%
1H18 2H18 1H19 2H19 1H20 2H20 1H21
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46

Mortgage services key terms

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, non-performing servicing is performed over loans that are part of a securitization arrangement.

Mortgage servicing rights: 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.

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 MSRs

• › 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.

US mortgage services – 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

• Margin Income Interest received on mortgagor funds prior to distribution

Servicing related fees – Additional fees received from servicing a loan

• › Loss mitigation fees e.g. for loan modifications

• › Ancillary Fees e.g. late fees

Other service fees

• › Includes valuation, real estate disposition services, loan fulfilment services and CMC Coop Services

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47

1H21 Management revenue at actual FX rates

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300
250 238.4
215.2
200
150
100
82.6
76.0 76.0
63.3
57.1
49.3
50 41.1
35.0 34.2
26.0
21.9 19.6 18.8
14.4
6.5 6.0 8.8 4.2 3.3 3.8 0.5 0.4 0.1 0.1 -0.1
0
Issuer Services Mortgage Services & Employee Share Plans & Business Services Communication Services & Corporate & Technology
Property Rental Services Voucher Services Utilities
-50
ANZ Asia UCIA CEU USA Canada
USD M
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48

1H21 Management revenue at actual FX rates Issuer Services breakdown

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180
159.5
160
140
120
100
80
60
50.7
40
28.9 30.3 28.1 25.6 24.8 26.3 27.7
20.3
20
11.2 9.7
5.7 5.8
0.9 2.5 0.5 0.1 3.5 1.6 1.2
0
Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other
ANZ Asia UCIA CEU USA Canada
USD M
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Australia

Management revenue: AUD million

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1H20 2H20 1H21
150.2 129.5 148.1
90.0
80.5
80.0
72.3
70.0
62.2
60.0
50.0
40.0
30.0
20.0
10.0
-
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Issuer Services

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62.8
59.0
57.4
11.7
9.5
7.8
Employee Share Plans & Voucher Services Communication Services & Utilities
1H20 2H20 1H21
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3.4
0.4 0.7
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Corporate & Technology

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Australia – Issuer Services

Management revenue: AUD million

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1H20 2H20 1H21
72.3 62.2 80.5
70.0
64.1
60.0 57.4
48.4
50.0
40.0
30.0
20.0
14.5
12.8 12.5
10.0
1.4 0.8 1.2 0.7 0.5 0.7
-
Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other
1H20 2H20 1H21
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Hong Kong

Management revenue: HKD million

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1H20 2H20 1H21
407.1 441.4 591.9
500.0
442.8
450.0
400.0
350.0
311.5
288.7
300.0
250.0
200.0
148.9
150.0 129.9
118.5
100.0
50.0
-0.1 - 0.2
-
Issuer Services Employee Share Plans & Voucher Services Corporate & Technology
-50.0
1H20 2H20 1H21
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Hong Kong – Issuer Services Management revenue: HKD million

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1H20 2H20 1H21
288.7 311.4 442.8
250.0
224.0
210.5 210.6
198.3
200.0
150.0
100.0
87.3
62.4
50.0
19.6
15.7
12.8
0.2 0.7 0.8
-
Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other
1H20 2H20 1H21
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USA

Management revenue: USD million

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1H20 2H20 1H21
576.6 598.9 574.5
300.0
263.9
250.0 238.4
232.3
227.3
215.2
211.4
200.0
150.0
100.0
70.9 73.9 76.0
50.0
27.6 29.4 26.0
18.5 20.2 18.8
- 0.1 0.1
-
Issuer Services Mortgage Services & Property Employee Share Plans & Business Services Communication Services & Corporate & Technology
Rental Services Voucher Services Utilities
1H20 2H20 1H21
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USA – Issuer Services

Management revenue: USD million

1H20		2H20	1H21
232.2		263.9	238.4
- 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 200.0
	Register Maintenance

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40.5
29.7
27.6 24.8 26.3
9.5
Corporate Actions Stakeholder Relationshop Management
1H20 2H20 1H21
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27.7
20.7
7.2
Issuer Services - Other
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Canada

Management revenue: CAD million

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1H20 2H20 1H21
121.6 127.4 108.7
70.0
60.0 57.9
55.4
51.3
48.5
50.0 46.6
45.6
40.0
30.0
20.0
13.4
11.9 11.7
10.0
-
Issuer Services Employee Share Plans & Voucher Business Services
Services
-10.0
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6.1
4.3 5.1
- 0.1 -0.2
Communication Services & Utilities Corporate & Technology
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1H20 2H20 1H21
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Canada – Issuer Services

Management revenue: CAD million

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1H20 2H20 1H21
48.5 51.3 46.6
45.0
40.7
40.0
37.4
34.6
35.0
30.0
25.0
20.0
15.0
12.3
9.3
10.0
7.6
5.0
1.6 1.3 1.5
-
Register Maintenance Corporate Actions Issuer Services - Other
1H20 2H20 1H21
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UK, Channel Islands & Equatex

Management revenue: GBP million

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1H20 2H20 1H21
194.2 192.6 153.4 Mortgage
Services Plans including
1H20: 81.2m Equatex
100.0 2H20: 74.8m 1H20: 58.9m
93.2
1H21: 53.0m 2H20: 66.9m
90.0 86.4 1H21: 52.5m
Vouchers
80.0 1H20: 7.6m
72.7 2H20: 3.9m
1H21: 4.9m
70.0
63.7 64.6
60.0 57.4
50.0
40.0
30.0 27.1 25.2 26.2
20.0
10.0 6.3
5.0
3.3 2.3 3.0 2.5
0.7 0.4 0.3
0.0
Issuer Services Mortgage Services & Property Employee Share Plans & Business Services Communication Services & Corporate & Technology
Rental Services Voucher Services Utilities
1H20 H20 1H21
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UK and Channel Islands – Issuer Services

Management revenue: GBP million

1H20	2H20	1H21
27.1	25.2	26.2
25.0

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19.8
20.0
17.7
16.0
15.0
10.0
5.5
5.0
3.0 3.2
1.9 2.1 2.2 2.1 2.5 2.4
-
Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other
1H20 2H20 1H21
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South Africa

Management revenue: RAND million

1H20		2H20	1H21	0.4	0.1 0.0
124.1		143.6	111.2
- 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0
	Issuer Services Employee Share Plans & Voucher Services 1H20 2H20 1H21			Corporate & Technology

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South Africa – Issuer Services

Management revenue: RAND million

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1H20 2H20 1H21
121.1 141.7 109.1
120.0
104.1
101.4
97.1
100.0
80.0
60.0
38.5
40.0
20.0 15.4
7.9
4.0
1.6 1.7
-
Register Maintenance Corporate Actions Issuer Services - Other
1H20 2H20 1H21
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Germany

Management revenue: EUR million

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1H20 2H20 1H21
17.6 27.9 20.0
18.0
16.6
16.0
14.0
14.0
12.3
12.0
10.5
10.0
8.0
6.9
6.0
4.0
2.8
2.0
0.7 0.9 0.7
0.1 -0.0 0.0
-
Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology
-2.0
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1H20 2H21 1H21
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Germany – Issuer Services Management revenue: EUR million

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1H20 2H20 1H21
2.8 10.5 6.9
12.0
10.2
10.0
8.0
6.7
6.0
4.0
2.5
2.0
0.3 0.3 0.2
-
Register Maintenance Issuer Services - Other
1H20 2H20 1H21
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63

Breakdown of average client balances for 1H21

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USD 17.6bn
Total balances
USD 12.8bn USD 4.8bn
Exposed balances Non-exposed balances
USD 2.8bn USD 10.0bn
Hedged balances Non-hedged balances
USD 9.4bn USD 0.6bn
USD 2.7bn USD 0.1bn
Non-hedged Natural hedge
Fixed Rate Deposits Fixed Rate Swaps
balances floating rate debt
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Lagged impact from rate changes

Immediate impact from rate changes

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64

Exposed and non-exposed 1H21 average balances by business

	Business Activity	1H21 Balances	(USD billions)	(USD billions)	Margin income (USD millions)		Business Activity	1H20 Balances	(USD billions)	(USD billions)	Margin income (USD millions)
		Exposed		Non-exposed				Exposed		Non-exposed
	Register Maintenance	2.5		0.3	11.4		Register Maintenance	2.3		0.7	20.0
	Corporate Actions	1.9		1.6	10.6		Corporate Actions	1.7		1.3	24.4
	Issuer Services	4.4		1.9	22.1		Issuer Services	4.0		2.0	44.4
	Employee Share Plans & Vouchers	1.3		0.1	2.3		Employee Share Plans & Vouchers	1.4		0.2	6.4
	Business Services	2.7		2.8	15.7		Business Services	2.4		3.0	32.9
	Mortgage Services &						Mortgage Services &
	Property Rental	4.3		0.0	15.5		Property Rental	3.8		0.0	32.3
	Services						Services
	Totals	12.8bn		4.8bn	55.5m		Totals	11.6bn		5.2bn	116.0m
			17.6bn						16.8bn
	Margin income	$48.2m		$7.3m			Margin income	$103.7m		$12.3m
	Average annualised yield	0.75%		0.30%			Average annualised yield	1.79%		0.47%

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Translated at actual FX rates

65

Breakdown of 1H21 average exposed balances by currency USD exposed balances continue to be the largest component

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Average exposed balances hedged
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AUD
Average exposed balances prior to hedging 1% CAD
USD 17%
26%
Other
AUD
4%
3%
CAD USD 2.8bn
13%
(USD 12.8bn x 21%)
USD 12.8bn GBP
(USD 17.6bn x 73%) 56%
USD GBP
52% 28% Average exposed balances un-hedged
AUD
Other
4%
5% CAD
12%
USD 10.0bn
GBP
(USD 12.8bn x 79%) 20%
USD
59%
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66 Average balances during 1H21

Profile of our swap and fixed rate deposit book

As at 31 December 2020

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3,500
Fixed rate deposits Swaps
3,000
2,500
2,000
1,500
1,000
500
0
Jan-21 Jan-22 Jan-23 Jan-24 Jan-25
As at 30 June 2020
3,500
Fixed rate deposits Swaps
3,000
2,500
2,000
1,500
1,000
500
0
Jul-20 Jul-21 Jul-22 Jul-23 Jul-24
USD million
USD million
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67

Profile of floating rate deposits

As at 31 December 2020

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4,000
3,000
2,000
1,000
0
Jan-21 Jan-22 Jan-23 Jan-24 Jan-25
As at 30 June 2020
4,000
3,000
2,000
1,000
0
Jul-20 Jul-21 Jul-22 Jul-23 Jul-24
USD million
USD million
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Exchange rates

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

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69

Important notice

Summary information

• This announcement contains summary information about Computershare and its activities current as at the date of this announcement.

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

Financial data

• Management results are used, along with other measures, to assess operating business performance. The company believes that exclusion of certain items permits better analysis of the Group’s performance on a comparative basis and provides a better measure of underlying operating performance.

• Management adjustments are made on the same basis as in prior years.

• The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with Australian Auditing Standards.

• All amounts are in United States dollars, unless otherwise stated.

Past performance

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

Future performance and forward-looking statements

• This announcement may contain forward-looking statements regarding Computershare’s intent, belief or current expectations with respect to Computershare’s business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices.

• When used in this announcement, the words ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘believe’, ‘continue’, ‘should’, ‘could’, ‘objectives’, ‘outlook’, ‘guidance’ and similar expressions, are intended to identify forward-looking statements. Indications of, and guidance on, plans, strategies, management objectives, sales, future earnings and financial performance are also forward-looking statements.

• Forward-looking statements are provided as a general guide only and should not be relied upon as a guarantee of future performance. They involve known and unknown risks, uncertainties, contingencies, assumptions and other important factors that are outside the control of Computershare.

• Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumptions on which these statements are based. Computershare makes no representation or undertaking that it will update or revise such statements.

Disclaimer

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

Not intended for foreign recipients

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

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70