COMPUTERSHARE LIMITED. - Interim / Quarterly Report 2024

1H24 Results

Management EPS +23% vs. pcp

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Management Revenue
$1.6bn
Up 6.2%
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Return on Invested Capital (ROIC)[1] 25.3% Up 980bps

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Management EPS Margin Income (MI)
$429.4m
54.8 cps
Up 24.8%
Up 23.0%
Management EBIT ex. MI Interim dividend per share (AUD)
$116.5m 40 cps [2]
Up 20.7% Up 33.3%
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Notes: All figures in this presentation are presented in USD millions and in constant currency, unless otherwise stated.

1 Refer to slide 58 for ROIC definition; 2 20% franked; Total dividend per share for 1H24 is AUD 40 cps (1H23 AUD 30 cps) up 33.3% and flat compared to FY23 final dividend per share.

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1H24 Proforma (ex US Mortgage Services) results relative to Group

Building a higher quality Computershare with improved returns

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Management Revenue Management EPS Margin Income (MI)
$1.4bn $394.2m
54.1 cps
12.6% lower 8.2% lower
1.2% lower
Return on Invested Management EBIT ex. MI Free cash flow
Capital (ROIC)
33.4% $135.1m $321.9m
810bps higher 16.0% higher 8.6% higher
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Comparative is against slide 8: 1H24 Management results summary. Proforma is defined as Group results excluding US Mortgage Services’ contribution for the first half of FY24.

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Computershare’s integrated business model

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

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vs. PCP
Total Revenue and EBIT Margin Financial Performance
1800 40.0% 30.0% 83 90
1,604
1600 1,511 35.0% 80
25.0%
1400 66 25.3% 70
30.0%
1,172
1200 1,128 1,124 1,102 837 20.0% 60
815 25.0%
1000 48
50
20.0% 42
800 647 611 618 686 +2.7% 15.0% 16.3%
15.5% 40
15.0% 13.8% 30 31 40
600 338
352 10.0% 30
400 -3.9% 10.0% 10.2% 10.4% 30
355 397 429 423 23 23 24 20
200 429 5.0% 5.0% 21
344
10
0 125 116 56 62 +24.8% 0.0%
1H19 1H20 1H21 1H22 1H23 1H24 0.0% 0
@ CC 1H19 1H20 1H21 1H22 1H23 1H24
Margin Income Event and Transactional fee revenue Core fee revenue EBIT Margin % Dividend per share (AU cents) ROIC (%) Mgt EPS (AU cps)
USD M ROIC
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Revenue definitions – see slide 43 for detail

› Event based businesses include Corporate Actions, Stakeholder Relationship Management, Bankruptcy and Class Actions (KCC - this business disposed on 1st May 2023 - Event and Transaction Based Revenues ex KCC +9.3%).
› 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. 1H19 includes Karvy; 1H22 includes 2 months of CCT.

Numbers translated at actual fx rates with the exception of 1H24 which is translated at the 1H23 average fx rate.

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1H24 overview

Growth in core fees, recovery and simplification build momentum

1H Results – Mgt EPS Positive outlook – +23% Guidance reaffirmed

› Recurring fee revenues up across › FY24 Management EPS up c. all businesses, +2.7% 7.5%, 116 cps - unchanged
› Record 1H Margin Income - › 2H24 Management EPS expected higher yields, balances stable, to be 11% higher vs. 1H24 +24.8%
› MI c. $825m - assumes May US rate cut
› $270m+ of hedged MI locked in this year
› Recovery in Employee Share Plans transactional revenues, +36.8%
› Issuer Services Management EBIT +25%, higher event based revenues, Registry stable
› Global Corporate Trust stable - MI gains offset by lower issuance and higher short term TSA costs
› Debt leverage down to 0.85x - strong balance sheet supports increased dividend, up 33%, ongoing share buyback and disciplined M&A
› EBIT ex. MI expected to be up in 2H vs. 1H
› Employee Share Plans trading volumes strong in 2H, Corporate Actions recovering with healthy announced pipeline
› Cost pressures abating, CCT synergies continue to contribute

Simpler Computershare with higher returns - Executing well

› KCC sold. US Mortgage Services sale is due to complete in March 2024
› Focus on high quality core businesses with leverage to structural growth trends and strong market positions
› At 3% cash rates, long term target returns of 30%[+] EBIT margins and 25%[+] ROIC subject to M&A
› Digitisation, technology investments and improved customer experience - strengthen core businesses
› More consistent earnings - $1.6bn of MI locked in
› $2.5bn of acquisition capacity post FY24 buyback - pipeline of attractive opportunities

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Improving the consistency of our earnings

$1.6bn of total hedged Margin Income “locked in” through disciplined hedging program – executing plan to reinvest maturing hedges

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Total client balances ($bn)
86.6
81.2
75.9
$0.2bn 73.6
47.3
44.1
42.7 47.1
44.4
16.5
18.1
$1.2bn 17.7
6.4
15.7 14.1
21.5 21.2 19.4
15.2 14.7
1H22 2H22 1H23 2H23 1H24
Average client balances - Legacy Average client balances - CCT Average MMF
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Total Hedged Margin Income ($m)

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$1.6bn 69% of total hedged Margin Income ($1.12bn) to be
delivered in next 5 years. Replacement of run-off increases
it to ($1.36bn)
$0.4bn
22 12 33
29
28 83 113
$1.2bn 29
250 59
230
210
160
100
Total Hedge MI FY24 FY25 FY26 FY27 FY28
FY24 - FY33
MI - Existing hedge book at 30 June 23 MI - New trades executed YTD FY24 Notional replacement of run-off
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FY19 through FY23 translated at actual rates. FY24E and beyond are translated at the FY23 June average FX rate.
Margin Income impact represents the fixed leg on interest rate swaps plus fixed rate term deposits.
Notional replacement run off is for illustrative purposes only (scenario above assumes new trades executed at the same rates and no change to balances). Our strategy is to replace maturing trades with new hedges to ensure consistent levels of protection. Maturing trades will be booked at the prevailing market rates at the time of execution.

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FY24 Outlook

Guidance reaffirmed; 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]

Key assumptions and sensitivities

› Margin Income revenue to be around $825m, including US Mortgage Services balances for the full fiscal year
› MI sensitivity driven by quantum and mix of balances and changes in cash rates
› Equity markets in line with current market conditions
› Full 12 months ownership of US Mortgage Services
› Group tax rate to be between 27.0% - 29.0%
› 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 – share buyback not included

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Management EPS
(FY13-23 at Actual rates)
140
120 10-year CAGR 6.7%
100
80
60
40
20
0
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24E
FY HY
US cents per share
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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 60 for constant currency conversion rates.

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1H24 Management results summary

MI growth and operating leverage drive margin expansion, +480 bps

Total revenue ex Margin Income Margin Income	1H24 Actual (at 1H23 CC)	1H24 Actual
	$1,174.9 $1,166.5 +0.7% $429.4 $344.1 +24.8%	$1,180.9 $430.8
Total revenue	$1,604.3 $1,510.6 +6.2%	$1,611.7
Operatingcosts	$983.1 $970.5 +1.3% -$0.1 -$0.1 Flat	$990.1 -$0.1
Share of net profit/(loss) of associates and jv
EBITDA	$621.3 $540.3 +15.0%	$621.7
Depreciation	$32.8 $35.8 -8.4% $42.6 $63.8 -33.2%	$32.9 $42.8
Amortisation
EBIT EBIT ex Margin Income	$545.9 $440.7 +23.9% $116.5 $96.5 +20.7%	$546.0 $115.2
EBIT margin (%) Interest expense	34.0% 29.2% +480bps $85.7 $53.7 +59.6%	33.9% $85.4
Profit Before Tax	$460.2 $387.0 +18.9%	$460.7
Income tax expense	$129.3 $117.8 +9.8%	$129.4
Management NPAT Management EPS (cents) - per guidance Management EPS (cents) - with buybacks	$330.7 $268.9 +23.0% 54.78 44.55 +23.0% 54.90 44.55 +23.2%	$331.1 54.85 54.97
Management ETR	28.1% 30.4% -230bps	28.1%

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1H24 Management EPS Margin Income drives earnings growth, EPS up 23%

Management EPS growth +23.0%

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4.6
11.9 2.3 0.1
54.8 54.9
3.4
2.6
44.5 0.8
1H23 KCC EPS 1 Core fee Event and Margin Income Increase in costs Interest expense and 1H24 Share 1H24
Management EPS revenue Transactional tax Management EPS Buyback (BB) Management EPS
Fee Revenue (adjusted for BB)
USD cps
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1 Kurtzman Carson Consultants (KCC) represents the Claims Administration business disposed on 1st May 2023.

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1H24 to 2H24 Management EPS bridge Second half earnings growth, +11% vs. 1H

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3.7
4.3
~ 60.8
2.5 2.6
5.3
54.8
1H24 Seasonality Operating revenue growth Margin Income Increase in cost Interest expense and tax 2H24
Management EPS Management EPS
USD cps
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Seasonality represents revenue in the Northern Hemisphere that is typically stronger in 2H for Registry Maintenance and Stakeholder Relationship Management.

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Margin Income and average client balances FY24 MI guidance now around $825m

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FY24E Avg Client FY24E Avg Weighted FY24E MI Outlook
Balances ($bn) Yield (%) ($m) Yield Yield Yield Yield
1.86% 2.79% 2.99% 2.68%
40 500
35
Exposed: Non-hedged 8.9 4.86% 435 400
30
Exposed: Hedged 9.3 2.91% 271 25 300
20
37.1
Exposed 18.2 3.88% 706 15 344.1 30.9 431.3 28.7 429.4 29.5 395.6 200
10
100
Non-Exposed 10.9 1.09% 119 5
0 0
Total 29.1 2.84% 825 1H23 2H23 1H24 2H24E
Arrows above indicate comparison of Margin Income yields against previous ASX disclosures of 15 [th] Aug 2023. Average Balances Margin Income (RHS)
Expected yield in August 2023 disclosure was 2.82% on $29.8bn of balances.
Hedged Book as a % of Exposed Balances
Margin Income Bridge ($m)
FY19 to FY24E
900
12
850 52% 56%
32 22 9 36%
800
40 35
750 6
700 840 825 24% 30% 23% 16%
3
650
600 0
FY24E MI at August Impact of Rate Impact of Balances Impact of Balance Impact of Hedging FY24E at FY19 FY20 FY21 FY22 FY23 FY24E FY24E Ex US MS
Disclosure at FY23 Curve Changes Mix Activity FY23 FX Rates
FX Rates Avg. Swaps Avg. Fixed Rate TDs Avg Hedged
$bn $m
Average Hedged Balances ($b)
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FY24 Ex US Mortgage Services assumes exclusion for the whole fiscal year.

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• For sensitivity on 2H24 guidance, please refer to slide 52.

Issuer Services

Increase in event and transactional revenues combined with stable registry business

Management EBIT		Revenue breakdown Register Maintenance	1H24 CC $309.2	1H23 Actual $306.7	CC Variance +0.8%
$210.3m	Up 25.2%	Corporate Actions Stakeholder Relationship Management	$53.1 $28.7	$43.7 $23.6	+21.5% +21.7%
		Governance Services	$50.8	$50.5	+0.6%
Margin		Margin Income	$134.8	$82.1	+64.2%
36.5%	Up 332bps	Total revenue Mgmt EBITDA	$576.6 $211.6	$506.7 $169.2	+13.8% +25.1%
		Mgmt EBITDA margin	36.7%	33.4%	Up 330bps

1H24 highlights

Issuer Services Revenue ($m)

Event and transactional revenue 1 benefitted from upturn in US corporate activity supported by new client wins

Globally, Corporate Actions volume 2 down c. 17%, offset by higher average deal size

Governance Services reflect 14% growth in recurring client fee revenues offset by timing of recoverable revenues shifting into 2H

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577
vs. PCP
507
471 465 463
424 253 -2.3% ()
259
227
251 260
215
188 +14.0%
183 165
165 192 185
135 +64.2%
61 44 22 18 82
1H19 1H20 1H21 1H22 1H23 1H24 @ CC
Margin income Event and Transactional revenue Core revenue
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Ongoing growth in fee revenues with additional recovery potential in Events & Transactions

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Includes impact of lower recoverable disbursements in 1H24 of ($4.0m).

Global Corporate Trust

Major CCT integration complete; gateway to full synergy realisation

Management EBIT $166.2m Up 42.4% Down 3.4% $237.3m Margin Margin 31.5% Up 630bps 51.7% Down 290bps

Revenue breakdown	1H24 CC	1H23 Actual	CC Variance
Trust Fee and other revenue*	$229.7	$228.3	+0.6%
MMF Fee Revenue Margin Income	$23.2 $205.6	$23.2 $198.6	Flat +3.5%
Total revenue Mgmt EBITDA	$458.6 $244.3	$450.2 $249.9	+1.9% -2.2%
Mgmt EBITDA margin	53.3%	55.5%	Down 220bps

*Trust Fee and other revenue $229.7m: USA $205.8m and Canada $23.9m

1H24 highlights

Exit from Transition Services 1 Agreement from WF completed on time with minimal impact to clients

Market share stable / improving 2 across key market product segments

Focus turning to automation and 3 digitisation. Incremental $57m of benefits to be delivered by FY27

Corporate Trust Fees ($m)

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204.0 205.8
68.7
0.6 0.5 0.8
25.2 23.7 25.1 26.1 24.3 23.9
1H19 1H20 1H21 1H22 1H23 1H24 @
CC
US Trust Fees and other revenue
CA Trust Fees and other revenue
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CCT Cost Synergy Plan – Cumulative Benefits ($m)

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80
72
52
29
23
17
10
8 mths FY23 1H24 FY24 FY25 FY26 FY27
FY22 Actual Planned
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Cumulative CCT synergy benefits achieved to date (at 31[st] Dec 2023) of $23m. On track to achieve $29m of cumulative benefits by the end of FY24.
Forecast execution expenses of c. $230m to transition (Spend to date $171.7m), integrate and transform the business, incurred over the first five years of ownership.

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Employee Share Plans

Client wins, EquatePlus rollout and significant latent earnings power

Management EBIT

$166.2m Up 42.4% $65.2m Up 150.3% Margin Margin 31.5%34.0% Up 1,610bpsUp 630bps

Revenue breakdown	1H24 CC	1H23 Actual	CC Variance
Fee	$76.5	$71.4	7.1%
Transactional	$81.1	$59.3	36.8%
Other	$7.7	$5.6	36.6%
Margin Income	$26.4	$9.3	182.6%
Total revenue	$191.6	$145.6	31.6%
Mgmt EBITDA	$67.5	$28.7	135.0%
Mgmt EBITDA margin	35.2%	19.7%	15.5%

1H24 highlights

Revenue excluding Margin Income ($m)

Outstanding shares and options under administration

Strong transactional volumes delivered 1 record first half revenues reflecting diversified client portfolio

2 The EquatePlus roll out on target with North American upgrades commenced

Significant AuA ($230bn) drives long 3 term earnings power. Increasing use of equity in remuneration secures ongoing growth in book

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180.0 300 AuA Units 35
160.0
30
250
140.0
25
120.0 200
100.0 20
150
80.0
15
60.0
100
10
40.0
50
20.0 5
0.0
0 0
Transactional fee Core fee revenue Revenue ex MI
revenue
1H19 1H20 1H21 1H22 1H23 1H24 @ CC Value of outstanding shares/options/units under administration up 10% YoY to 230bn.
AuA ($bn)
Shares/Options/Units (Bn)
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1H24 costs analysis

Total costs up 1.0%. Excluding KCC +6.7%, BAU opex higher 4%

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1,200
1,000
49.5 983.1
970.5 BAU Opex +3.9%
181.7
171.9 22.9
800
18.1
47.5 801.3
778.4
749.1
Investments and Other:
600 • Elevated irrecoverable VAT as a
result of higher MI in UK
• Investment required to establish
new Indian back-office operation
and exit CCT TSA
400 • Stranded cost related to sale of
KCC
200
0
1H23 total costs Less 1H23 Less 1H23 1H23 BAU opex Cost out Impact of 1H24 BAU opex Investments 1H24 operating Add 1H24 1H24 total costs
KCC costs cost of sales benefits inc. 1 inflation and Other expenses cost of sales
CCT synergies
USD M
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1 Cost out program savings of $12.1m, in addition to $6m of CCT synergies.

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Cash flow and leverage

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

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$2.5bn of
Balance Sheet capacity capacity by end
FY24 post
buyback
1.40 3,000
1.33
1.20
2,500
1.00
2,000
0.80
0.85 0.85
1,500
0.60
1,000
0.40
0.42
500
0.20
0.00 0
1H23 A 2H23 A 1H24 A 2H24 E
Leverage ratio excluding non-recourse SLS Advance debt M&A Firepower
$m
Net Debt / EBITDA (x)
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1H24 cashflow waterfall

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369.9
Free cash flow
$296.3m
26.0
-25.8
-17.2 -56.5 -89.0
-155.5
Net operating Capex Net MSR Net acquisitions Dividends Share Buyback Net cash flow
cash flow spend and disposals
(ex SLS
advances)
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*Cash payments for MSR purchases of $56.5m in 1H24 (no sales in this period). 1H24 net debt calculation of $1,310.7m - 100% floating rate debt. Free cash flow includes management adjusted expense.

Scenario assumes FY24 guidance delivered, in addition to the impact of share buyback and sale of US Mortgage Services.

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Building a simpler Computershare with higher quality earnings

Strong 1H24 results - Management EPS +23% $166.2m Up 42.4% Margin Ongoing growth in core fees, scope for further recovery in cyclical revenues, record 1H 31.5% Up 630bps Margin Income

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Executing strategy to build a simpler CPU - capital light, more cash generative & higher returns

$1.6bn MI locked in - more consistent earnings

FY24 guidance reaffirmed, around 7.5% growth in Management eps vs. pcp

Balance sheet strength enables investments in digital enhancements, complementary acquisitions and returns for shareholders

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Appendices

1. Constant currency analysis

Management results
Revenue, Margin Income, EBITDA and EBIT by Business Segment
EPS bridge
Mortgage Services Profit and Loss

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
Computershare Corporate Trust Profit and Loss
UK and US Mortgage Services Profit and Loss, including UPB and number of loans
US Mortgage Services - Invested capital
Revenue definitions
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
Key Sensitivities, Client balances and Margin Income
Profile of our swap and fixed rate deposit book and floating rate deposits
Debt Facilities Maturity Profile
Balance Sheet
Cash Flow
Exchange Rates

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Segment changes

From 1 July 2023, the following changes were made to the operating segments, which reflect the manner in which the Group is internally-managed and the financial information is reported to the chief operating decision-maker:

The legacy ‘Corporate Trust’ business has been consolidated into the ‘Global Corporate Trust’ segment (previously included within ‘Business Services”).
Operations has been moved from ‘Issuer Services’ into ‘Technology’, and this segment has been renamed to ‘Technology Services & Operations’.
The provision of the KCC Business transitional services agreement has moved into ‘Technology Services & Operations’ (previously included within “Business Services”).

The comparative disclosures have been adjusted to align with this new reporting structure.

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1H24 Management results – constant currency and actual rates

USD M	At CC	At Actual fx
Total Revenue ex MI	1,174.9	1,180.9
Margin Income	429.4	430.8
Total Management Revenue	1,604.3	1,611.7
Operating expenditure	983.1	990.1
Share of net profit/(loss) of associates and jv	0.1	0.1
Management EBITDA	621.3	621.7
Depreciation	32.8	32.9
Amortisation	42.6	42.8
Depreciation & Amortisation	75.4	75.7
Management EBIT	545.9	546.0
Management EBIT ex MI	116.5	115.2
Management EBIT Margin	34%	34%
Management EBIT ex MI Margin	7%	7%
Interest Expense	85.7	85.4
Management PBT	460.2	460.7
Management ITE	129.3	129.4
OEI	0.2	0.2
Management NPAT	330.7	331.1
Management EPS (cps) - per guidance	54.78	54.85
Management EPS (cps) - with buybacks	54.90	54.97

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Revenue Margin Income
At CC At Actual fx At CC At Actual fx
Issuer Services 576.6 575.2 134.8 134.3
Global Corporate Trust 458.6 457.1 205.6 205.0
Employee Share Plans & Voucher Services 191.2 198.3 26.4 27.6
Mortgage Services & Property Rental Services 279.4 283.5 62.5 63.9
Communication Services & Utilities 89.0 88.2 0.0 0.0
Business Services 0.0 0.0 0.0 0.0
Technology Services & Operations 9.4 9.5 0.0 0.0
Total 1,604.3 1,611.7 429.4 430.8
EBITDA EBIT
At CC At Actual fx At CC At Actual fx
Issuer Services 211.6 209.0 210.3 207.6
Global Corporate Trust 244.3 242.9 237.3 235.9
Employee Share Plans & Voucher Services 68.5 71.7 66.1 69.2
Mortgage Services & Property Rental Services 72.3 73.0 31.5 32.2
Communication Services & Utilities 9.1 8.9 7.0 6.8
Business Services 0.0 0.0 0.0 0.0
Technology Services & Operations 15.6 16.3 -6.3 -5.6
Total 621.3 621.7 545.9 546.0
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CC = Constant Currency. 1H24 numbers have been translated to USD at 1H23 average fx rates.

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CEU 0%

Revenue, Margin Income, EBITDA and EBIT – constant currency

Revenue	1H23	2H23	1H24	1H24	1H24 vs 23
Issuer Services	506.7	583.7	576.6		13.8%
Global Corporate Trust	450.2	507.7	458.6		1.9%
Employee Share Plans & Voucher Services	148.8	202.9	191.2		28.5%
Mortgage Services & PropertyRental Services	266.2	282.6	279.4		5.0%
Communication Services & Utilities	80.9	86.0	89.0		10.1%
Business Services	56.6	38.4		0.0	-100.0%
TechnologyServices & Operations	1.3	3.9		9.4	605.1%
Total Revenue	1,510.6	1,705.3	1,604.3		6.2%
Margin Income Issuer Services Global Corporate Trust Employee Share Plans & Voucher Services	1H23 82.1 198.6 9.4	2H23 116.3 229.7 19.7	1H24 134.8 205.6 26.4		1H24 vs 23 64.2% 3.5% 182.6%
Mortgage Services & PropertyRental Services Communication Services & Utilities	39.9 0.0	55.0 0.0	62.5 0.0		56.5% 0.0%
Business Services TechnologyServices & Operations Total Margin Income	14.1 0.0 344.1	10.6 0.0 431.3	0.0 0.0 429.4		-100.0% 0.0% 24.8%
EBITDA	1H23	2H23	1H24		1H24 vs 23
Issuer Services	169.2	216.1	211.6		25.1%
Global Corporate Trust	249.9	282.5	244.3		-2.2%
Employee Share Plans & Voucher Services	31.6	75.8	68.5		116.4%
Mortgage Services & PropertyRental Services	52.2	77.1	72.3		38.4%
Communication Services & Utilities	7.8	17.0		9.1	16.9%
Business Services	7.1	4.8		0.0	-99.9%
TechnologyServices & Operations	22.4	2.8	15.6		-30.5%
Total EBITDA	540.3	676.1	621.3		15.0%

EBIT	1H23	2H23	1H24		1H24 vs 23
Issuer Services	168.0	214.7	210.3		25.2%
Global Corporate Trust	245.7	276.1	237.3		-3.4%
Employee Share Plans & Voucher Services	28.9	73.6	66.1		128.5%
Mortgage Services & PropertyRental Services	-9.6	33.5	31.5		427.9%
Communication Services & Utilities	5.6	14.8		7.0	24.8%
Business Services	6.4	4.3		0.0	-99.9%
TechnologyServices & Operations	-4.3	-25.2		-6.3	-45.6%
Total EBIT	440.7	591.8	545.9		23.9%

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

ANZ
Asia 2% Asia
4% 4%
Canada ANZ
Canada
7% 7%
11%
UCIA
14%
UCIA
17%
Revenue
EBITDA
$1,604.3m CEU
$621.3m
2%
USA
63%
USA
69%
----- End of picture text -----

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21 1H24 numbers have been translated to USD at 1H23 average fx rates.

FY23 to FY24 Management EPS bridge

9.2 10.3 2.4 5.7 ~ 116 0.5 ~ 116 3.6 3.5 1.3 108 FY23 FY23 1 Core fee Event and Margin Income Impact of Cost out Interest expense FY24 Interest expense FY24 Management EPS KCC EPS revenue Transactional Inflation benefits inc. 2 and tax Management EPS to fund Management EPS Fee Revenue CCT synergies buybacks (Per guidance)

1 KCC EPS is inclusive of recharges of $12.3m for the full year in FY23. Management NPAT contribution $7.8m. 2 Cost out program savings of $39m and CCT synergies $12m expected in FY24.

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Mortgage Services

US mortgage business sold with closing targeted for March 1st; UK operations profitable

Management EBIT[2] Up 220.8% $19.2m $166.2m Up 42.4% Margin Margin 31.5%7.6% Up 1,400bpsUp 630bps

Revenue breakdown US Mortgage Services	1H24 CC $166.6	1H23 Actual $176.2	CC Variance -5.5%
US Mortgage Services Margin Income UK Mortgage Services Total revenue	$35.2 $50.0 $251.7	$22.5 $49.8 $248.4	+56.5% +0.5% +1.3%
Mgmt EBITDA1	$60.0	$45.9	+30.6%
Mgmt EBITDA margin	23.8%	18.5%	+530bps

1H24 highlights

Portfolio analysis – shift to sub-servicing driving portfolio growth

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

$160
Sub-servicing UPB increased $1bn
portfolio (up 1%) vs. Dec 22 $140
$120
UPB recycled into
1H recycling delayed due to sale of $100
sub-servicing
business to Rithm
$80
1H invested capital has $60
Invested capital increased over $55m pending
$40
MSR sales to Rithm in 2H
$20
Fair Market Value aligned with
Value of MSR IFRS Book Value. Amortisation $0
portfolio
reverted to 9 years from 1 [st]
January 2023
1H24 UK Mortgages EBIT $2.7m, US Mortgages EBIT $16.6m, margin 8.2%. Owned UPB ($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 Dec-23
----- End of picture text -----

Deal agreed to sell US Mortgage business to 1 Rithm Capital Corp agreed 3 October 2023. The deal is targeted to close March 1, 2024.

1H driven by lower opex (cost-out programs), 2 higher MI and longer MSR asset life.

UK strategic alternatives remain under 3 consideration.

1 UK Mortgage Services EBITDA $2.7m in 1H24 and $4.2m in 1H23. 2 1H24 UK Mortgages EBIT $2.7m, US Mortgages EBIT $16.6m, margin 8.2%.

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ACTUAL FX RATE ANALYSIS

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Key Financial Indicators

	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23	1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23
Total Management Revenue Operating expenditure
Management EBITDA	336.6	309.7	277.7	350.5	314.4	405.9	540.3	676.1
Management EBIT	265.9	232.2	190.8	255.3	221.4	309.6	440.7	591.8
Management EBIT ex Margin Income	149.9	148.8	135.2	203.8	159.3	184.7	96.5	160.6
EBIT Margin % EBIT ex MI Margin % Management Profit Before Tax
Management NPAT	157.0	146.9	117.9	165.9	139.5	210.4	268.9	383.1
Management EPS (US cps)	28.96	26.61	21.58	29.13	23.10	34.85	44.55	63.46
Management EPS (AU cps)	42.35	40.39	30.44	37.83	31.47	48.24	66.35	94.27
Statutory NPAT	124.7	108.0	72.6	116.4	92.1	135.6	177.1	267.7
Statutory EPS (US cps)	23.00	19.55	13.28	20.49	15.25	22.46	29.33	44.34
Weighted average number of shares1
Net operating cash flows excluding SLS advances Operating cash to EBITDA conversion ratio Days Sales Outstanding Dividend(AU cents) Franking(%) Dividend payout ratio ROE2 ROIC2 Net debt to EBITDA3

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 23), Solium Capital UK (1st Dec 23).

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

At Actual fx rates CPU including CCT 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 ITE 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 Statutory NPAT 72.6 116.5 92.1 135.6 177.1 267.7 Management EPS (cps) 21.58 29.13 15.25 22.46 44.55 63.46 Statutory EPS (cps) 13.28 20.49 15.25 22.46 29.33 44.33 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%
	1H24
	1,180.9 430.8 1,611.7 990.1 0.1 621.7 32.9 42.8 75.7
	546.0
	115.2 33.9% 9.8%
	85.4
	460.7
	129.4 0.2
	331.1

	105.2

	54.97 17.47
	28.1% 37.8%

1 Refer to slide 50 for detail on management adjustments.

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Summary – Revenue and Margin Income

USD M (at actual rates)

USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)
Revenue 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	465.0	534.3	463.0	516.5	506.7	583.7	999.3	979.5	1,090.4	575.2
Global Corporate Trust	35.6	39.6	112.9	298.6	450.2	507.7	75.2	411.5	957.9	457.1
Employee Share Plans & Voucher Services	143.0	190.0	163.4	176.6	148.8	202.9	333.0	340.0	351.7	198.3
Mortgage Services & PropertyRental Services	297.8	311.2	294.4	292.8	266.2	282.6	609.0	587.2	548.8	283.5
~~1662~~ Communication Services & Utilities	81.4	88.3	84.5	96.1	80.9	86.0	169.7	180.6	166.9	88.2
~~$.m~~ ~~Up 42.4%~~ Business Services	78.8	56.2	48.8	45.0	56.6	38.4	135.0	93.7	95.0	0.0
TechnologyServices & Operations	0.9	0.7	4.6	0.2	1.3	3.9	1.7	4.8	5.3	9.5
~~Margin~~ Total 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	1,611.7
~~315%~~ Up 630bps
~~.~~ Margin Income 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	22.1	22.1	18.3	30.1	82.1	116.3	44.2	48.4	198.4	134.3
Global Corporate Trust	9.8	9.1	15.9	61.8	198.6	229.7	18.9	77.7	428.3	205.0
Employee Share Plans & Voucher Services	2.3	1.9	1.2	2.9	9.4	19.7	4.2	4.2	29.0	27.6
Mortgage Services & PropertyRental Services	15.5	13.8	23.1	25.3	39.9	55.0	29.3	48.4	94.9	63.9
Communication Services & Utilities	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Business Services	5.9	4.5	3.6	4.9	14.1	10.6	10.4	8.5	24.8	0.0
TechnologyServices & Operations	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Margin Income	55.5	51.5	62.1	125.0	344.1	431.3	107.0	187.1	775.4	430.8

Revenue excluding Margin Income 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	442.9	512.2	444.7	486.4	424.6	467.4	955.1	931.1	892.0	440.9
Global Corporate Trust	25.8	30.4	97.0	236.8	251.5	278.0	56.3	333.8	529.5	252.1
Employee Share Plans & Voucher Services	140.7	188.1	162.2	173.7	139.4	183.3	328.9	335.9	322.7	170.7
Mortgage Services & PropertyRental Services	282.2	297.4	271.3	267.5	226.3	227.6	579.7	538.8	453.9	219.6
Communication Services & Utilities	81.4	88.3	84.5	96.1	80.9	86.0	169.7	180.6	166.9	88.2
Business Services	72.9	51.6	45.2	40.1	42.4	27.8	124.5	85.3	70.2	0.0
TechnologyServices & Operations	0.9	0.7	4.6	0.2	1.3	3.9	1.7	4.8	5.3	9.5
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	1,180.9

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Summary – EBITDA

USD M (at actual rates)

USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)	USD M (at actual rates)
EBITDA 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	132.5	154.8	120.0	149.0	169.2	216.1	287.3	269.0	385.3	209.0
Global Corporate Trust	20.6	23.0	31.8	105.8	249.9	282.5	43.6	137.6	532.4	242.9
Employee Share Plans & Voucher Services	23.9	63.7	40.4	49.4	31.6	75.8	87.6	89.8	107.4	71.7
Mortgage Services & PropertyRental Services	53.6	61.2	71.3	68.3	52.2	77.1	114.8	139.6	129.4	73.0
~~$1662~~ Communication Services & Utilities	10.9	19.9	13.2	20.8	7.8	17.0	30.8	33.9	24.8	8.9
~~.m~~ ~~Up 42.4%~~ Business Services	8.9	0.4	-2.1	-4.7	7.1	4.8	9.3	-6.8	11.8	0.0
~~Marin~~ TechnologyServices & Operations	27.4	27.5	39.9	17.2	22.4	2.8	54.8	57.1	25.2	16.3
~~g~~ Total EBITDA	277.7	350.5	314.4	405.9	540.3	676.1	628.2	720.2	1,216.3	621.7
~~31.5%~~ Up 630bps
EBITDA excluding Margin Income 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	110.4	132.7	101.7	118.9	87.1	99.8	243.1	220.5	186.9	74.7
Global Corporate Trust	10.8	13.9	15.9	44.1	51.3	52.8	24.7	60.0	104.1	37.9
Employee Share Plans & Voucher Services	21.6	61.8	39.2	46.5	22.3	56.1	83.4	85.7	78.4	44.1
Mortgage Services & PropertyRental Services	38.1	47.4	48.1	43.0	12.3	22.2	85.5	91.2	34.5	9.0
Communication Services & Utilities	10.9	19.9	13.2	20.8	7.8	17.0	30.8	33.9	24.8	8.9
Business Services	3.0	-4.2	-5.7	-9.5	-7.1	-5.9	-1.1	-15.2	-12.9	0.0
TechnologyServices & Operations	27.4	27.5	39.9	17.2	22.4	2.8	54.8	57.1	25.2	16.3
Total EBITDA excluding Margin Income	222.2	299.0	252.2	280.9	196.1	244.8	521.2	533.1	440.9	190.9

EBITDA excluding Margin Income Margin 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	24.9%	25.9%	22.9%	24.4%	20.5%	21.3%	25.5%	23.7%	21.0%	16.9%
Global Corporate Trust	41.7%	45.6%	16.4%	18.6%	20.4%	19.0%	43.8%	18.0%	19.7%	15.0%
Employee Share Plans & Voucher Services	15.4%	32.9%	24.2%	26.8%	16.0%	30.6%	25.4%	25.5%	24.3%	25.8%
Mortgage Services & PropertyRental Services	13.5%	15.9%	17.7%	16.1%	5.4%	9.7%	14.8%	16.9%	7.6%	4.1%
Communication Services & Utilities	13.4%	22.5%	15.6%	21.6%	9.7%	19.8%	18.2%	18.8%	14.9%	10.1%
Business Services	4.2%	-8.1%	-12.6%	-23.7%	-16.6%	-21.2%	-0.9%	-17.9%	-18.4%	n/a
TechnologyServices & Operations	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total EBITDA excluding Margin Income Margin	21.2%	25.6%	22.7%	21.6%	16.8%	19.2%	23.5%	22.1%	18.1%	16.2%

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Summary – EBIT

USD M (at actual rates)

EBIT 1H21 2H21 1H22 2H22 1H23 2H23	EBIT 1H21 2H21 1H22 2H22 1H23 2H23	EBIT 1H21 2H21 1H22 2H22 1H23 2H23	EBIT 1H21 2H21 1H22 2H22 1H23 2H23	EBIT 1H21 2H21 1H22 2H22 1H23 2H23	EBIT 1H21 2H21 1H22 2H22 1H23 2H23	EBIT 1H21 2H21 1H22 2H22 1H23 2H23	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23	1H24
Issuer Services	130.8	153.4	118.6	147.5	168.0	214.7	284.3	266.1	382.7	207.6
Global Corporate Trust	20.5	22.9	31.3	102.6	245.7	276.1	43.4	133.8	521.8	235.9
Employee Share Plans & Voucher Services	21.2	60.9	37.7	46.8	28.9	73.6	82.1	84.5	102.5	69.2
Mortgage Services & PropertyRental Services	5.3	4.7	14.3	10.9	-9.6	33.5	10.0	25.2	23.9	32.2
~~$1662m~~ ~~U 424%~~ Communication Services & Utilities	8.6	17.4	10.8	18.5	5.6	14.8	26.0	29.3	20.4	6.8
~~.~~ ~~p .~~ Business Services	8.1	-0.4	-2.8	-5.3	6.4	4.3	7.7	-8.2	10.7	0.0
Margin TechnologyServices & Operations	-3.8	-3.7	11.6	-11.3	-4.3	-25.2	-7.4	0.4	-29.5	-5.6
Total EBIT	190.8	255.3	221.4	309.6	440.7	591.8	446.1	531.1	1,032.5	546.0
~~31.5%~~ Up 630bps
EBIT excluding Margin Income 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	108.8	131.3	100.3	117.4	85.9	98.4	240.1	217.7	184.3	73.3
Global Corporate Trust	10.7	13.8	15.4	40.8	47.1	46.4	24.5	56.2	93.4	31.0
Employee Share Plans & Voucher Services	18.9	59.0	36.4	43.9	19.6	53.9	77.9	80.3	73.5	41.6
Mortgage Services & PropertyRental Services	-10.2	-9.1	-8.8	-14.4	-49.5	-21.4	-19.3	-23.2	-71.0	-31.7
Communication Services & Utilities	8.6	17.4	10.8	18.5	5.6	14.8	26.0	29.3	20.4	6.8
Business Services	2.2	-5.0	-6.4	-10.2	-7.7	-6.3	-2.8	-16.6	-14.0	0.0
TechnologyServices & Operations	-3.8	-3.7	11.6	-11.3	-4.3	-25.2	-7.4	0.4	-29.5	-5.6
Total EBIT excluding Margin Income	135.2	203.8	159.3	184.7	96.5	160.6	339.1	344.0	257.1	115.2

EBIT excluding Margin Income Margin 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
Issuer Services	24.6%	25.6%	22.6%	24.1%	20.2%	21.1%	25.1%	23.4%	20.7%	16.6%
Global Corporate Trust	41.5%	45.4%	15.9%	17.2%	18.7%	16.7%	43.6%	16.8%	17.6%	12.3%
Employee Share Plans & Voucher Services	13.5%	31.4%	22.5%	25.3%	14.0%	29.4%	23.7%	23.9%	22.8%	24.4%
Mortgage Services & PropertyRental Services	-3.6%	-3.0%	-3.3%	-5.4%	-21.9%	-9.4%	-3.3%	-4.3%	-15.6%	-14.4%
Communication Services & Utilities	10.6%	19.7%	12.7%	19.3%	6.9%	17.2%	15.3%	16.2%	12.2%	7.7%
Business Services	3.0%	-9.7%	-14.2%	-25.4%	-18.2%	-22.8%	-2.2%	-19.5%	-20.0%	n/a
TechnologyServices & Operations	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Total EBIT excluding Margin Income Margin	12.9%	17.4%	14.4%	14.2%	8.3%	12.6%	15.3%	14.3%	10.5%	9.8%

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Issuer Services Profit & Loss

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

USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 FY21 FY22 FY23 1H24
Register Maintenance 306.4 357.5 322.1 352.9 306.7 354.7 663.9 675.0 661.5 308.2
Corporate Actions 69.0 66.5 55.4 55.7 43.7 42.5 135.5 111.0 86.2 52.6
Stakeholder Relationship Management 35.5 51.2 26.5 33.1 23.6 29.4 86.7 59.6 53.0 28.9
Governance Services 32.0 37.0 40.8 44.8 50.5 40.7 69.0 85.5 91.3 51.1
Total Revenue ex MI 442.9 512.2 444.7 486.4 424.6 467.4 955.1 931.1 892.0 440.9
Margin Income 22.1 22.1 18.3 30.1 82.1 116.3 44.2 48.4 198.4 134.3
Total Management Revenue 465.0 534.3 463.0 516.5 506.7 583.7 999.3 979.5 1,090.4 575.2
Operating expenditure 333.1 379.9 343.2 367.8 337.5 367.8 713.0 711.1 705.3 366.2
Share of net profit/(loss) of associates and jv 0.6 0.4 0.2 0.3 0.1 0.1 0.9 0.5 0.2 0.0
Management EBITDA 132.5 154.8 120.0 149.0 169.2 216.1 287.3 269.0 385.3 209.0
Depreciation 1.7 1.4 1.4 1.5 1.3 1.3 3.0 2.9 2.6 1.4
Amortisation 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Depreciation & Amortisation 1.7 1.4 1.4 1.5 1.3 1.3 3.0 2.9 2.6 1.4
Management EBIT 130.8 153.4 118.6 147.5 168.0 214.7 284.3 266.1 382.7 207.6
Management EBIT ex MI 108.8 131.3 100.3 117.4 85.9 98.4 240.1 217.7 184.3 73.3
EBIT Margin 28.1% 28.7% 25.6% 28.6% 33.2% 36.8% 28.4% 27.2% 35.1% 36.1%
EBIT ex MI Margin 24.6% 25.6% 22.6% 24.1% 20.2% 21.1% 25.1% 23.4% 20.7% 16.6%
Register Maintenance revenue breakdown
Issuer paid 219.1 258.4 219.4 250.0 208.8 251.2 477.5 469.5 460.0 201.6
Holder/Broker paid 87.3 99.1 102.7 102.8 97.9 103.5 186.4 205.5 201.5 106.6
Register Maintenance MI 11.4 9.4 8.2 14.0 41.8 63.8 20.9 22.2 105.6 67.8
Total Register Maintenance 317.8 366.9 330.3 366.8 348.5 418.5 684.8 697.2 767.0 376.0
----- End of picture text -----

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.

==> picture [420 x 165] intentionally omitted <==

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

Canada ANZ Canada ANZ
10% 11% 9% 13%
Asia
6% Asia
7%
1H24 1H23
UCIA
revenue 11% revenue UCIA
12%
$575.2m CEU $506.7m
3%
CEU
USA 3%
USA 56%
59%
----- End of picture text -----

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Global Corporate Trust

USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Total Revenue ex MI 25.8 30.4 97.0 236.8 251.5 278.0 Margin Income 9.8 9.1 15.9 61.8 198.6 229.7 Total Management Revenue 35.6 39.6 112.9 298.6 450.2 507.7 Operating expenditure 15.1 16.5 81.1 192.8 200.3 225.2 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 20.6 23.0 31.8 105.8 249.9 282.5 Depreciation 0.1 0.1 0.5 3.3 4.2 6.4 Amortisation 0.0 0.0 0.0 0.0 0.0 0.0 Depreciation & Amortisation 0.1 0.1 0.5 3.3 4.2 6.4 Management EBIT 20.5 22.9 31.3 102.6 245.7 276.1 Management EBIT ex MI 10.7 13.8 15.4 40.8 47.1 46.4 EBIT Margin 57.5% 58.0% 27.7% 34.3% 54.6% 54.4%		1H24 revenue $457.1m USA 91% Canada 9% FY23 1H24 529.5 252.1 428.3 205.0 957.9 457.1 425.4 214.2 0.0 0.0	1H24 revenue $457.1m USA 91% Canada 9% FY23 1H24 529.5 252.1 428.3 205.0 957.9 457.1 425.4 214.2 0.0 0.0
	FY21 FY22
	56.3 333.8 18.9 77.7 75.2 411.5 31.6 273.9 0.0 0.0 43.6 137.6 0.1 3.8 0.0 0.0 0.1 3.8
			USA 91% .0 0.0
		532 10	.4 242.9 .6 6.9
		0 10	1H23 revenue $450.2m US and the USA 91% Canada 9% .0 0.0 .6 6.9 .8 235.9 .4 31.0 % 51.6%
	43.4 133.8	521
	24.5 56.2 58% 33%	93 54

Global Corporate Trustcomprises trust and agency services in connection with the administrati legacy corporate trust operations in Canada and the US (previously reflected within Business Serv	on of debt securities in t ices).	he

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Employee Share Plans & Voucher Services Profit & Loss

				Y23 17.7 5.0 29.0 51.7 44.3 0.0 07.4 1.4	1H24 revenue $198.3m 1H24 171.2 -0.6 27.6 198.3 126.6 0.0 71.7 0.6 ANZ 4% Asia 11% UCIA 65% CEU 0.2% USA 15% Canada 5%
FY21 FY22 F
			3.6 4.9 02.5 73.5 9.1% 3.1% 147.3 155.5 14.9 28.9 46.7	3.6	1.9
					1H23 revenue $148.8m 2.5 69.2 41.6 34.9% 24.3% 79.0 84.3 8.0 27.6 198.8 ANZ 5% Asia 13% UCIA 56% CEU 2% USA 18% Canada 6%
82.1 84.5 1
77.9 80.3 24.7% 24.8% 2 24.6% 24.8% 2

144.6	151.5		147.3
159.9	159.5		155.5
12.4	12.9		14.9
4.1	4.1		28.9
321.0	328.0	3	46.7

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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Mortgage Services & Property Rental Services Profit & Loss

==> picture [189 x 369] intentionally omitted <==

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

UCIA
29%
1H24
revenue
$283.5m
USA
71%
UCIA
25%
1H23
revenue
$266.2m
USA
75%
----- End of picture text -----


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 FY22		FY23 453.9 94.9 548.8 419.5 0.0 129.4 2.6 102.8 105.4 23.9		1H24
							579.7 538.8 29.3 48.4 609.0 587.2 494.2 447.7 0.0 0.0 114.8 139.6 4.0 2.4 100.8 112.0 104.8 114.4				219.6 63.9 283.5 210.6 0.0 73.0 -0.1 40.8
										105.4 23.9	40.8
							10.0 25.2				32.2
							-19.3 -23.2 1.6% 4.3% -3.3% -4.3% -1			-71.0 4.4% 5.6% 189.9 47.6 113.4 52.6 403.6 102.3	-31.7 11.4% -14.4%

							209.5	183.2		189.9	98.1
							79.2	57.9		47.6	23.4
							157.7	181.8		113.4	45.0
							3.7	3.3		52.6	35.2
							450.1	426.1		403.6	201.7

UK Mortgage Services Revenue	68.7	63.8	58.2	57.2	49.8	52.5	132.5	115.4		102.3	52.6

Mortgage Services & Property Rental Services comprise mortgage servicing and related activities, together with tenancy deposit protection services in the UK.

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Communication Services & Utilities Profit & Loss

	ss	ss	ss	ss	ss

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%	FY21 FY22 FY2			3 9 0 0 9 0 0 8	1H24

	161.5	172.0	158.	9	83.8
	8.2	8.5	8.	0	4.4
	0.0 0.0 0. 169.7 180.6 166. 138.9 146.6 142. 0.0 0.0 0. 30.8 33.9 24. 4.8 4.6 4. 0.0 0.0 0. 4.8 4.6 4.				0.0 88.2 79.3 0.0 8.9
				4 0	2.1 0.0
				4 4 4	2.2
	26.0 29.3 20.				6.8
	26.0 29.3 20. 15.3% 16.2% 12.2%				6.8 7.7%
	d printing, intelligent mailin

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

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

Canada
5%
ANZ
USA 1H24
41%
33%
revenue
$88.2m
CEU UCIA
15% 6%
Canada
6%
USA
27% 1H23 ANZ
46%
revenue
$80.9m
CEU
15% UCIA
6%
----- End of picture text -----

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Business Services Profit & Loss

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USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 FY21 FY22 FY23 1H24
Bankruptcy 41.3 23.4 16.3 10.5 10.0 10.9 64.6 26.8 21.0 0.0
Class Actions 31.6 28.3 28.9 29.6 32.4 16.8 59.9 58.5 49.2 0.0
Karvy 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Total Revenue ex MI 72.9 51.6 45.2 40.1 42.4 27.8 124.5 85.3 70.2 0.0
Margin Income 5.9 4.5 3.6 4.9 14.1 10.6 10.4 8.5 24.8 0.0
Total Management Revenue 78.8 56.2 48.8 45.0 56.6 38.4 135.0 93.7 95.0 0.0
Operating expenditure 69.9 55.8 50.9 49.6 49.5 33.6 125.7 100.5 83.1 0.0
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 0.0
Management EBITDA 8.9 0.4 -2.1 -4.7 7.1 4.8 9.3 -6.8 11.8 0.0
Depreciation 0.4 0.3 0.1 0.1 0.0 0.0 0.6 0.2 0.1 0.0
Amortisation 0.5 0.5 0.6 0.6 0.6 0.4 1.0 1.2 1.0 0.0
Depreciation & Amortisation 0.8 0.8 0.7 0.7 0.7 0.4 1.7 1.4 1.1 0.0
Management EBIT 8.1 -0.4 -2.8 -5.3 6.4 4.3 7.7 -8.2 10.7 0.0
Management EBIT ex MI 2.2 -5.0 -6.4 -10.2 -7.7 -6.3 -2.8 -16.6 -14.0 0.0
EBIT Margin 10.3% -0.8% -5.8% -11.9% 11.4% 11.2% 5.7% -8.7% 11.3% NA
EBIT ex MI Margin 3.0% -9.7% -14.2% -25.4% -18.2% -22.8% -2.2% -19.5% -20.0% NA
----- End of picture text -----

==> picture [191 x 180] intentionally omitted <==

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

UCIA
Canada
6%
13%
1H23
revenue
$56.6m
USA
81%
----- End of picture text -----

Business Services comprises the provision of bankruptcy and class actions administration services which was disposed on 1[st] May 2023.

==> picture [106 x 21] intentionally omitted <==

Technology Services & Operations Profit & Loss

Technology Services & Operations Profit & Loss 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 3.9 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 3.9 Operating expenditure -26.6 -27.1 -35.3 -17.0 -21.1 1.3 Share of net profit/(loss) of associates and jv -0.2 -0.3 0.0 0.0 0.0 0.1 Management EBITDA 27.4 27.5 39.9 17.2 22.4 2.8 Depreciation 30.9 29.8 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 28.5 26.7 27.9 Management EBIT -3.8 -3.7 11.6 -11.3 -4.3 -25.2 Management EBIT ex MI -3.8 -3.7 11.6 -11.3 -4.3 -25.2		1H24 revenue $9.5m ANZ 12% UCIA 28% USA 55% Canada 5% FY23 1H24 5.3 9.5 0.0 0.0 5.3 9.5 -19.8 -6.7 0.1 0.1 25.2 16.3 54.2 21.9 0.4 0.0 54.7 21.9	1H24 revenue $9.5m ANZ 12% UCIA 28% USA 55% Canada 5% FY23 1H24 5.3 9.5 0.0 0.0 5.3 9.5 -19.8 -6.7 0.1 0.1 25.2 16.3 54.2 21.9 0.4 0.0 54.7 21.9
	FY21 FY22
	1.7 4.8 0.0 0.0 1.7 4.8 -53.7 -52.3 -0.6 0.0 54.8 57.1 60.7 55.5 1.6 1.2 62.3 56.7
			4 0.0 7 21.9

			1H23 revenue $1.3m People, nes. The nd other ANZ 24% Asia 1% UCIA 57% CEU 1% USA 4% Canada 13% 5 -5.6 5 -5.6
	-7.4 0.4	-29.
	-7.4 0.4	-29.
Technology Services & Operations includes operations and shared servicefunctions in Facilities, Global Information Security and Corporate. Computershare allocates out all corporate residual Corporate and Technology revenues reflect some third-party technology revenues, rent corporate related transaction income (this includes the provision of the KCC business transition	cluding Risk, Internal A expenses to our busine al income, interest inco al services agreement).	udit, ss li me a

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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 Fee revenue 69.8 74.8 75.0 76.5 71.4 75.9 Transactional revenue 58.7 101.2 74.6 84.9 59.3 96.2 Other revenue 5.9 6.4 7.0 5.9 5.6 9.3 Margin Income 2.3 1.9 1.2 2.9 9.3 19.6 Total Management Revenue 136.7 184.4 157.8 170.2 145.6 201.0 Operating expenditure 117.4 124.7 121.4 125.6 116.9 127.6 Share of net profit/(loss) of associates and jv 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 Management EBITDA ex MI 17.1 57.7 35.2 41.6 19.4 53.8 EBITDA Margin 14% 32% 23% 26% 20% 37% Depreciation 0.9 0.9 0.9 0.8 0.8 0.6 Amortisation 1.8 1.9 1.8 1.8 1.9 1.7 Depreciation & Amortisation 2.7 2.8 2.7 2.6 2.7 2.2 Management EBIT 16.6 56.8 33.7 41.9 26.0 71.2 Management EBIT ex MI 14.3 55.0 32.5 39.0 16.7 51.6 EBIT Margin 12.1% 30.8% 21.4% 24.6% 17.9% 35.4% EBIT ex MI Margin 10.7% 30.1% 20.8% 23.3% 12.3% 28.4%	FY21 FY22 FY23 1H24 144.6 151.5 147.3 79.0 159.9 159.5 155.5 84.3 12.4 12.9 14.9 8.0 4.1 4.1 28.9 27.6 321.0 328.0 346.7 198.8 2421 2470 2445 1280	FY21 FY22 FY23 1H24 144.6 151.5 147.3 79.0 159.9 159.5 155.5 84.3 12.4 12.9 14.9 8.0 4.1 4.1 28.9 27.6 321.0 328.0 346.7 198.8 2421 2470 2445 1280
	. 0.0 78.9 74.8 25% 1.8 3.7 5.5	. . . 0.0 0.0 0.0 81.0 102.2 70.8 76.9 73.3 43.2 25% 29% 36% 1.7 1.4 0.6 3.6 3.6 1.9 5.3 4.9 2.5 75.7 97.2 68.3 71.5 68.3 40.7 23.1% 28.1% 34.3% 22.1% 21.5% 23.8%
	73.4
	69.3 22.9% 21.9%

==> picture [106 x 21] intentionally omitted <==

Computershare Corporate Trust


USD M (at actual rates) 1H21 2H21 1H22 2H22 1H23 2H23 Total Revenue ex MI 0.0 0.0 69.3 211.2 226.0 249.5 Margin Income 0.0 0.0 7.5 48.0 163.4 208.9 Total Management Revenue 0.0 0.0 76.7 259.2 389.4 458.5 Operating expenditure 0.0 0.0 7.5 48.0 163.4 208.9 Share of net profit/(loss) of associates and jv 0.0 0.0 0.0 0.0 0.0 0.0 Management EBITDA 0.0 0.0 9.5 80.3 203.5 248.7 Depreciation 0.0 0.0 0.4 3.2 4.2 6.4 Amortisation 0.0 0.0 0.0 0.0 0.0 0.0 Depreciation & Amortisation 0.0 0.0 0.4 3.2 4.2 6.4 Management EBIT 0.0 0.0 9.1 77.1 199.3 242.3 Management EBIT ex MI 0.0 0.0 1.6 29.0 35.9 33.4 EBIT Margin 0.0% 0.0% 11.9% 29.7% 51.2% 52.9%	FY21 FY22 FY23 0.0 280.4 475.5 0.0 55.5 372.4 0.0 336.0 847.9 0.0 246.1 395.7 0.0 0.0 0.0 0.0 89.8 452.2 0.0 3.7 10.6 0.0 0.0 0.0 0.0 3.7 10.6 0.0 86.2 441.6 0.0 30.7 69.3 0% 26% 52%	1H24
		225.7 180.9 406.5 198.7
		0.0
		207.8
		6.9 0.0 6.9
		200.9
		20.1 49.4%

Computershare Corporate Trust comprises trust and agency services in connection with the administration of debt securities in the US.

==> picture [154 x 323] intentionally omitted <==

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

1H24
revenue
$406.5m
USA
100%
1H23
revenue
$389.4m
USA
100%
----- End of picture text -----

==> picture [106 x 21] intentionally omitted <==

UK Mortgage Services Profit & Loss

USD M (at actual rates)	1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23	1H24
UKAR Fixed Fee	4.0	0.1	0.0	0.0	0.0	0.0	4.1	0.0	0.0	0.0
Other fee revenue	64.7	63.7	58.2	57.2	49.8	52.5	128.4	115.4	102.3	52.6
Margin Income	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total Management Revenue	68.7	63.8	58.2	57.2	49.8	52.5	132.5	115.4	102.3	52.6
Operating expenditure	69.4	69.3	53.0	54.6	45.5	49.8	138.6	107.6	95.4	49.9
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	0.0
Management EBITDA	-0.7	-5.5	5.2	2.6	4.2	2.7	-6.1	7.8	6.9	2.8
EBITDA Margin	-1%	-9%	9%	5%	8%	5%	-5%	7%	7%	5%
Depreciation	0.0	0.1	0.1	-0.5	-0.4	0.0	0.1	-0.4	-0.4	0.0
Amortisation	0.4	0.4	0.4	0.0	0.0	0.0	0.9	0.4	0.0	0.0
Depreciation & Amortisation	0.5	0.5	0.5	-0.5	-0.4	0.0	1.0	0.0	-0.4	0.0
Management EBIT	-1.1	-6.0	4.7	3.1	4.7	2.7	-7.1	7.8	7.4	2.8
EBIT Margin	-1.6%	-9.3%	8.0%	5.5%	9.4%	5.2%	-5.3%	6.8%	7.2%	5.3%

	1H23	1H23	1H23	1H23	FY23	FY23	FY23	1H24	1H24	1H24
	Performing		Non- performing	Total	Performing	Non- performing	Total	Performing	Non- performing	Total
UK	UPB £bn*	34.4	2.9	37.2	31.9	3.6	35.4	28.7	4.7	33.4
	Number of loans(k)*	224.7	22.0	246.6	201.1	26.9	227.9	176.5	33.2	209.6

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

==> picture [106 x 21] intentionally omitted <==

US Mortgage Services Profit & Loss

USD M (at actual rates)
1H21
2H21
1H22
2H22
1H23
2H23
Base Servicing Fees
107.9
101.6
94.1
89.0
91.5
98.4
Servicing related 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
Margin Income
2.1
1.7
1.2
2.1
22.5
30.1
Total Management Revenue
215.2
235.0
214.0
212.1
198.6
204.9
Operating expenditure
167.5
173.6
163.3
162.5
156.9
144.5
Share of net profit/(loss) of associates and jv
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
Management EBITDA ex MI
45.6
59.7
49.5
47.5
19.2
30.3
EBITDA Margin
22%
26%
24%
23%
21%
29%
Depreciation
2.1
1.8
1.5
1.3
1.5
1.6
Amortisation
45.1
53.9
54.9
56.7
60.8
42.0
Depreciation & Amortisation
47.2
55.7
56.4
57.9
62.3
43.6
Management EBIT
0.5
5.7
-5.7
-8.4
-20.6
16.8
Management EBIT ex MI
-1.6
4.0
-6.9
-10.4
-43.0
-13.3
EBIT Margin
0.2%
2.4%
-2.7%
-3.9%
-10.4%
8.2%
EBIT ex MI Margin
-0.7%
1.7%
-3.3%
-5.0%
-24.4%
-7.6%

FY21
FY22
FY23
1H24
209.5
183.2
189.9
98.1
79.2
57.9
47.6
23.4
157.7
181.8
113.4
45.0
3.7
3.3
52.6
35.2
450.1
426.1
403.6
201.7
341.1
325.8
301.4
144.4
0.0
0.0
0.0
0.0
109.0
100.3
102.1
57.3
105.3
97.0
49.5
22.2
24%
24%
25%
28%
3.9
2.8
3.1
-0.1
99.0
111.6
102.8
40.9
102.9
114.4
105.9
40.7
6.2
-14.1
-3.7
16.6
2.4
-17.4
-56.3
-18.6
1.4%
-3.3%
-0.9%
8.2%
0.5%
-4.1%
-16.1%
-11.2%

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

	FY23	FY23	FY23	FY23	FY23	1H24	1H24	1H24	1H24 v FY23	1H24 v FY23	1H24 v FY23
	UPB and number of loans Performing			Non- performing	Total	Performing	Non- performing	Total	Performing	Non- performing	Total
	Fully owned MSR's	UPB$bn	29.3	5.9	35.1	33.0	5.0	38.1	12.7%	-14.0%	8.3%
		Number of loans(k)	133.1	47.8	181.0	146.3	43.8	190.1	9.9%	-8.5%	5.0%
SA	$166.2 Part owned MSR's	UPB$bn	7.2	11.3	18.5	6.8	10.6	17.4	-5.0%	-6.4%	-5.8%
		~~m~~ Up 42. Number of loans(k)	4% 44.4	67.0	111.4	42.8	63.4	106.2	-3.6%	-5.4%	-4.7%
U	Margin Subservicing	UPB$bn	79.2	11.3	90.5	70.5	14.5	85.0	-11.0%	28.4%	-6.1%
		Number of loans(k)	392.3	85.3	477.6	356.2	107.4	463.5	-9.2%	25.8%	-2.9%
	31.5% Total USA	UPB$bn	115.7	28.4	144.1	110.4	30.1	140.5	-4.6%	5.8%	-2.6%
		~~Up 630~~ Numberof loans(k)	~~bps~~ 569.8	200.2	770.0	545.3	214.5	759.8	-4.3%	7.2%	-1.3%

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	1H247
	Dec	Jun	Dec	Jun	Dec	Jun	Dec
Net Loan Servicing Advances1	91.5	119.0	136.3	106.4	161.6	131.8	160.6
Net MSR intangible asset 2	489.7	512.9	470.3	496.9	545.3	468.8	491.0
Investment in SPVs3	32.8	30.3	32.1	26.3	22.6	21.9	20.2
Other intangible assets4	68.8	67.5	66.3	65.3	64.4	62.0	61.2
Total invested capital	682.8	729.6	705.0	694.9	793.9	684.5	5 732.9

Net cash payments for MSR purchases5
MSR amortisation6

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 Refer to Cashflow statement: Investing cash flow - Payments for intangible assets including MSRs. Net cash payments for MSR purchases of $56.5m in 1H24 (purchases of $56.5m and no sales), $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 6 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.

7 1H24 invested capital reflects the pre impairment position.

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Revenue definitions

USD M	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC	1H19 1H20 1H21 1H22 1H23 1H24 1H24@ CC
Issuer Services
Register Maintenance - Issuer Paid	218	205	219	219	209	202	203
Register Maintenance - Holder/Broker Paid	96	96	87	103	98	107	107
Corporate Actions	51	51	69	55	44	53	53
Stakeholder RelationshipManagement	36	18	36	26	24	29	29
~~m~~ Up 42.4% Governance Services	10	10	32	41	51	51	51
Global Corporate Trust
Computershare Corporate Trust				69	226	226	226
Corporate Trust	26	24	26	28	26	26	27
~~Up 630bps~~ Employee Share Plans & Voucher Services
Plans - Fee revenues	57	66	70	75	71	79	76
Plans - Transactional revenues	46	62	59	75	59	84	81
Plans - Other revenues	7	7	6	7	6	8	8
Vouchers	10	7	6	6	3	-2	-2
Mortgage Services & Property Rental Services
US Mortgage Services - Base	82	104	108	94	92	98	98
US Mortgage Services - service	22	24	30	26	23	23	23
US Mortgage Services - Other	42	82	75	92	61	45	45
UK Mortgage Services	128	102	69	58	50	53	50
PropertyRental Services	1	0	0	0	0	0	0
Business Services
Bankruptcy& Class Actions	61	64	73	45	42	0	0
Karvy	17					0	0
Communication Services & Utilities
Communication Services	83	79	78	80	77	84	84
Utilities	4	4	3	4	4	4	5
Technology Services & Operations	6	3	1	5	1	11	11
Total Revenue excluding Margin Income	1,003	1,008	1,047	1,109	1,166	1,181	1,175
Margin Income	125	116	56	62	344	431	429
Total Revenue	1,128	1,124	1,102	1,172	1,511	1,612	1,604

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1H24 Revenue by Business Unit and Geography

~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1	~~$166.2m~~ ~~Up 42.4%~~ ~~315%~~ ~~U 630bs~~ Margin USD M(at actual rates) ANZ Asia UCIA CEU USA Canada Total Register Maintenance 49.7 28.2 47.3 15.8 204.4 30.6 376.0 Corporate Actions 10.3 4.7 8.9 0.0 69.9 25.3 119.1 Stakeholder RelationshipManagement 1.3 2.4 2.3 1.8 21.1 0.0 28.9 Governance Services 0.3 0.6 5.2 1.7 42.5 0.8 51.1 Issuer Services 61.6 35.9 63.8 19.3 337.8 56.7 575.2 Global Corporate Trust 0.0 0.0 0.0 0.0 414.6 42.5 457.1
Margin Issuer Services	61.6	35.9	63.8	19.3	337.8		56.7	575.2
~~315%~~ ~~U 630bs~~ Global Corporate Trust	0.0	0.0	0.0	0.0	414.6		42.5	457.1
~~.~~ ~~p p~~ Employee Share Plans	8.3	21.4	128.1	0.5	30.2
						.2	10.3	198.8
Employee Share Plans & Voucher Services	8.3	21.4	127.6	0.5	30	.2	10.3	198.3
US Mortgage Services 0.0 0.0 0.0 0.0 201 UK Mortgage Services 0.0 0.0 81.8 0.0 0
Mortgage Services & Property Rental Services 0.0 0.0 81.8 0.0 201 Communication Services & Utilities 36.1 0.0 5.4 12.8 29 Business Services 0.0 0.0 0.0 0.0 0 Technology Services & Operations 1.1 0.0 2.7 0.0 5
Total Revenue	107.1	57.3	281.3	32.6	1,018	.6	114.8	1,611.7

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1H24 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		44.9	28.2	35.0	3.1	5.7	4.8	204.4	30.6	19.3	376.0
Corporate Actions		9.4	4.7	6.6	0.0	1.3	0.0	69.9	25.3	1.9	119.1
Stakeholder RelationshipManagement		1.3	2.4	2.3	0.0	0.0	0.0	21.1	0.0	1.8	28.9
Governance Services		0.3	0.6	5.1	0.0	0.1	0.2	42.5	0.8	1.6	51.1
~~$166.2m~~ Issuer Services Global Corporate Trust Employee Share Plans & Voucher Services	~~Up~~	~~42.4%~~ 55.9 0.0 8.3	35.9 0.0 21.3	49.0 0.0 71.4	3.1 0.0 49.8	7.1 0.0 0.1	5.0 0.0 0.0	337.8 414.6 30.2	56.7 42.5 10.3	24.6 0.0 6.9	575.2 457.1 198.3
~~Margin~~ Mortgage Services & PropertyRental Services		0.0	0.0	81.8	0.0	0.0	0.0	201.7	0.0	0.0	283.5
~~31.5%~~ Communication Services & Utilities Business Services	~~Up 630bps~~ 36.1 0.0		0.0 0.0	5.4 0.0	0.0 0.0	0.0 0.0	12.8 0.0	29.1 0.0	4.8 0.0	0.0 0.0	88.2 0.0
TechnologyServices & Operations		1.1	0.0	2.6	0.0	0.0	0.0	5.2	0.4	0.0	9.5
Total Revenue		101.5	57.3	210.2	52.9	7.2	17.8	1,018.6	114.8	31.6	1,611.7
		Australia	Hong Kong	UK & Offshore	Switzerland	South Africa	Germany	USA	Canada	Other

	Australia	Hong Kong	UK & Offshore	Switzerland	South Africa	Germany	USA	Canada	Other
	AUD	HKD	GBP	CHF	RAND	EUR	USD	CAD	USD
Register Maintenance	67.1	220.4	27.6	2.6	106.2	4.4	204.4	41.1	19.3
Corporate Actions	14.0	37.1	5.2	0.0	24.5	0.0	69.9	34.0	1.9
Stakeholder RelationshipManagement	2.0	18.4	1.9	0.0	0.0	0.0	21.1	0.0	1.8
Governance Services	0.4	4.9	4.0	0.0	1.7	0.2	42.5	1.1	1.6
Issuer Services	83.5	280.7	38.7	2.6	132.4	4.6	337.8	76.1	24.6
Global Corporate Trust	0.0	0.0	0.0	0.0	0.0	0.0	414.6	57.1	0.0
Employee Share Plans & Voucher Services	12.4	166.6	56.4	43.0	1.0	0.0	30.2	13.9	6.9
Mortgage Services & PropertyRental Services	0.0	0.0	64.6	0.0	0.0	0.0	201.7	0.0	0.0
Communication Services & Utilities	54.0	0.0	4.3	0.0	0.0	11.7	29.1	6.4	0.0
Business Services	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
TechnologyServices & Operations	1.7	0.0	2.1	0.0	0.5	0.0	5.2	0.6	0.0
Total Revenue	151.5	447.3	166.0	45.7	134.0	16.3	1,018.6	154.0	31.6

Equatex Revenue of $52.1m has been split between Switzerland $49.8m, Norway $1.8m and UK $0.6m. This revenue is classified as UCIA consistent with prior periods. In addition, Switzerland includes revenue for Register Maintenance $3.1m.

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Revenue, EBITDA and EBIT by Region

Revenue 1H21 2H21 1H22 2H22 1H23 2H23	Revenue 1H21 2H21 1H22 2H22 1H23 2H23	Revenue 1H21 2H21 1H22 2H22 1H23 2H23	Revenue 1H21 2H21 1H22 2H22 1H23 2H23	Revenue 1H21 2H21 1H22 2H22 1H23 2H23	Revenue 1H21 2H21 1H22 2H22 1H23 2H23	Revenue 1H21 2H21 1H22 2H22 1H23 2H23	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23	1H24
ANZ	111.4	102.0	116.9	103.2	109.9	96.1	213.4	220.1	206.0	107.1
Asia	76.8	84.6	61.2	55.7	57.9	61.0	161.3	116.9	118.9	57.3
UCIA	215.8	254.2	234.8	256.8	218.1	287.6	470.0	491.6	505.7	281.3
CEU	42.4	58.5	37.5	58.1	31.0	59.6	100.9	95.7	90.6	32.6
~~$166.2m~~ USA	U 574.5	p42.4% 622.5	630.6	849.6	986.0	1,081.7	1,197.0	1,480.2	2,067.6	1,018.6
Canada	81.6	98.6	90.5	102.3	107.7	119.4	180.2	192.8	227.1	114.8
~~Margin~~ Total 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	1,611.7
315% Up 630bps
. EBITDA 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
ANZ	8.7	14.9	15.7	6.8	10.1	9.1	23.7	22.4	19.2	14.0
Asia	39.1	32.0	27.9	21.0	24.0	23.4	71.1	48.9	47.3	21.6
UCIA	33.2	56.1	59.3	39.0	50.4	102.0	89.4	98.3	152.5	89.5
CEU	4.5	13.9	5.6	47.5	1.4	20.6	18.4	53.0	22.0	-0.5
USA	156.6	186.1	161.5	247.5	398.6	461.2	342.7	409.1	859.8	430.2
Canada	35.6	47.5	44.5	44.1	55.8	59.9	83.1	88.6	115.6	67.0
Total EBITDA	277.7	350.5	314.4	405.9	540.3	676.1	628.2	720.2	1,216.3	621.7

EBIT 1H21 2H21 1H22 2H22 1H23 2H23							FY21 FY22 FY23			1H24
ANZ	3.1	8.7	10.3	1.5	5.1	4.1	11.7	11.9	9.2	9.3
Asia	37.2	29.9	25.9	19.4	22.4	21.8	67.1	45.3	44.2	20.1
UCIA	20.7	44.4	48.3	35.3	41.6	92.0	65.1	83.6	133.6	81.1
CEU	2.4	11.7	3.6	39.5	-0.4	18.6	14.1	43.1	18.2	-2.5
USA	93.7	115.4	90.9	171.7	317.9	397.3	209.2	262.6	715.2	371.7
Canada	33.7	45.2	42.5	42.2	54.0	58.0	78.9	84.6	112.1	66.3
Total EBIT	190.8	255.3	221.4	309.6	440.7	591.8	446.1	531.1	1,032.5	546.0

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Revenue excluding acquisitions and disposals

USD M (at actual rates)	1H21	2H21	1H22	2H22	1H23	2H23	FY21	FY22	FY23	1H24
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	1,611.7
Less acquisitions*	3.1	3.9	84.2	307.2	324.8	0.0	31.2	336.0	324.8	0.0
Less disposals*	0.0	2.7	2.2	18.3	70.7	48.9	2.7	20.5	119.7	0.0
Less UKAR fixed fee	4.0	0.1	0.0	0.0	0.0	0.0	4.1	0.0	0.0	0.0
Less Margin Income	55.5	51.2	54.4	74.5	243.2	420.7	106.7	128.9	663.8	430.8
Management Revenue excluding acquisitions
and 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	1,180.9

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 – 1H24

$38m cost out benefit to be achieved in FY24

$M	Benefit realisation (cumulative)
$166.2m Up 42.4% Activity Total cost savings estimates FY23A FY24E FY24 change vs. last disclosure2 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 66.2 66.2 ► 0.0 66.2 66.2 50.4 61.1 ► 0.0 70.6 76.7	COMPLETE COMPLETE ►0.0m
Stage 4 Total 40 – 55	23.5 46.4 ▼ 0.3 52.9 52.9	▼0.3m
Total estimate 165 – 235	168.2 201.8 ▼ 0.3 217.8 223.9	▼0.3m
Equatex synergies 40 UK Mortgage Services1 85-90	25.1 26.7 ► 0.0 33.2 40.0 82.8 86.4 ► 0.0 88.8 88.8	►0.0m ►0.0m
Total cost savings 290-365	276.1 314.9 ▼ 0.3 339.8 352.7	▼0.3m
Cost to achieve (post tax)3	224.3 265-275 ► 0.0 295-300 295-300	►No change

› $12.1m of benefits achieved in 1H24 of which $12.1m cost saves and $1.8m revenue synergies.
› 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 FY23 and included cumulative benefits up to FY26.[3] Costs to achieve are cumulative.

Statutory results

USD M (at actual rates)

Statutory results		1H23	1H24	1H24 v 23
Total revenue		1,504.9	1,606.4	6.7%
Other income		8.5	5.3	-37.7%
$166.2m Total Revenue Total Expenses Statutory Net Profit (post NCI)	Up 42.4%	1,513.4 1,250.1 177.1	1,611.7 1,277.9 105.2	6.5% -2.2% -40.6%
Margin Earnings per share (post NCI)		29.33	17.47	-40.4%
31.5% Up 630bps Reconciliation of Statutory NPAT to Management Net profit after tax per statutory results		Results		1H24 105.2
Management Adjustments (after tax)
Amortisation				34.5
Acquisitions and Disposals				60.2
Other				131.2
Total Management Adjustments				225.9
Net profit after tax per management results				331.1
Management Earnings per share (cps)				54.97
*EPS in 1H24 is inclusive of buyback

› 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	1H24
Management adjustments items (net of tax)
Amortisation	21.4	42.7	20.4	63.4	35.1	70.7	34.5
$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	34.5 60.2
Acquisition and disposal related expenses	13.7	33.6	33.4	12.2			3.6
Margin Disposal related expenses - KCC Business							2.9
31.5% Up 630bps 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	-8.9	-9.1	-12.5	-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	53.7
Adjustment of contingent consideration receivable					-1.9	-2.9
Other	19.2	27.5	6.6	13.7	26.8	51.1	131.2
Major restructuring costs	19.3	29.2	3.7	13.1	11.8	29.3	14.7
Marked to market adjustments - derivatives	-0.1	1.6	1.9	-0.5	2.7	-0.7	0.1
Reversal of provisions		-3.2
Voucher Services impairment			1.1	1.1		9.9
UK Mortgage Services impairment					12.3	12.6
US Mortgage Services impairment							116.4
Total Management Adjustments	45.3	94.8	47.4	122.2	91.9	207.3	225.9

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Other expenditure

Other expenditure
USD M (at actual rates)
Operating costs	1H21 2H21 1H22 2H22 1H23 2H23						FY21 FY22 FY23			1H24
Cost of Sales	202.9	219.6	191.3	207.6	183.6	187.2	422.4	398.9	370.8	182.0

Personnel	502.3	534.3	553.8	674.2	652.9	678.3	1,036.6	1,228.1	1,331.1	653.2
Occupancy Other Direct Computer/External Technology	17.5	13.8	13.9	15.8	15.9	18.3	31.3	29.7	34.2	19.7
	58.9	55.4	51.8	66.2	66.4	92.1	114.3	118.0	158.5	78.2
	43.5	46.8	46.6	56.4	51.7	53.6	90.3	103.0	105.3	57.1
Total Controllable Costs	622.2	650.3	666.1	812.7	786.8	842.3	1,272.5	1,478.8	1,629.1	808.2
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	990.1

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	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23	Technology Costs 1H21 2H21 1H22 2H22 1H23 2H23	FY21 FY22 FY23	FY21 FY22 FY23	FY21 FY22 FY23	1H24
Development	48.5	52.2	54.3	64.1	63.0	79.2	100.7	118.4	142.2	64.5
Infrastructure	55.2	57.0	56.4	59.3	59.7	60.3	112.2	115.7	120.0	63.3
Maintenance	22.1	20.0	21.0	21.7	25.6	30.3	42.2	42.7	56.0	21.8
Admin	6.4	6.7	7.5	12.1	9.7	13.5	13.1	19.6	23.2	12.2
Total Technology Costs	132.3	135.9	139.2	157.2	158.1	183.3	268.2	296.4	341.4	161.8
Technology costs as a % of revenue	12.0%	11.1%	11.9%	11.0%	10.5%	10.8%	11.5%	11.4%	10.6%	10.0%
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							FY21 FY22 FY23			1H24
Information Technology	6.6	11.7	9.1	27.2	11.3	24.9	18.3	36.3	36.3	12.0
Communication Services Facilities	1.5	2.6	0.5	2.1	0.0	1.1	4.1	2.6	1.2	0.0
Occupancy	2.3	1.0	3.1	2.4	5.5	6.6	3.3	5.5	12.1	2.4
Other	0.1	1.1	0.3	0.1	0.4	0.0	1.3	0.4	0.4	0.9
Total Capex	10.6	16.4	12.9	31.8	17.2	32.7	27.0	44.7	49.9	15.3

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Key sensitivities on 2H24 Margin Income

$1bn change in exposed non-hedged balances translates to around $24.0m PBT impact for 2H

Earnings Sensitivity – Average Balances -$1bn Balances 2H24 Guidance +$1bn Balances 801.0 825.0 849.0

Balance sensitivity assumes six month impact on non-hedged exposed balances.

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Earnings Sensitivity – Interest Rates
-25 bps 2H24 Guidance +25 bps
814.0 825.0 836.0
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Interest rate sensitivity assumes six month rate impact on non-hedged exposed balances.
If balances move by $1bn (+/-) in FY24, the delta to Margin Income is around $24.0m to the second half 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 $11m to the second half 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 2H24 guidance	Cash rate assumptions for 2H24 guidance
	FY24 Q3*	FY24 Q4*	2H Average
USD	5.31%	5.00%	5.15%
AUD	4.32%	4.21%	4.26%
GBP	5.20%	5.06%	5.13%
CAD	5.00%	4.85%	4.93%
Weighted Avg	5.23%	4.95%	5.09%

Quarterly average of daily market implied rates. Source: Bloomberg – World Interest Rate Probability at 12th January 2024

Full year guidance for FY24 of around $825m (1H24: $429.4m in cc).

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1H24 Client Cash

Margin Income rises 25% from 1H23 to $430.8m ($429.4m in constant currency)

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160 500
431.3 430.8
140
400
120
344.1
100
300
80
200
60
125.0
125.2 121.2
116.0
40
83.4 62.1 100
55.5 51.5
20
21.0 16.1 16.8 17.6 17.6 20.1 27.9 39.3 37.1 30.9 28.8
0 0
1H19 2H19 1H20 2H20 1H21 2H21 1H22 2H22 1H23 2H23 1H24
Average balances ($bn) Margin Income ($m)
USD million
USD billion
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	Total Group
	1H23 2H23 1H24
Margin Income $m	344.1 431.3 430.8
Avg balances - Total $bn	37.1 30.9 28.8
Total MI yield %	1.86% 2.79% 2.99%
MMF fee revenue $m MMF avg balances $bn MMF yield %
	23.2 21.4 23.2
	44.1 43.4 47.1
	0.10% 0.10% 0.10%

Margin Income and Balances translated at Actual fx rates. 1H24 Margin Income in constant currency is $429.4m. 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) Average Annualized Yield At actual rates 1H23 2H23 1H24 1H23 2H23 1H24 1H23 2H23 1H24 Total 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% By Region 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% Asia Pacific 0.9 0.9 0.8 4.6 6.3 7.5 1.01% 1.48% 1.94% EMEA 4.3 4.8 4.5 33.4 63.0 74.0 1.55% 2.63% 3.32% US 27.6 21.6 20.0 270.5 319.0 302.3 1.96% 2.95% 3.02% Canada 4.3 3.6 3.5 35.6 43.0 47.0 1.67% 2.37% 2.65% By Product Line 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% Register Maintenance 3.8 3.8 3.4 41.8 63.8 67.8 2.22% 3.38% 3.92% Corporate Actions 3.9 2.9 3.2 40.3 52.5 66.5 2.09% 3.62% 4.17% Issuer Services 7.7 6.7 6.6 82.1 116.3 134.3 2.16% 3.48% 4.04% Legacy Corp Trust 5.6 2.6 2.5 35.2 20.8 24.1 1.25% 1.62% 1.89% Computershare Corporate Trust 17.7 15.7 14.1 163.4 208.9 180.9 1.85% 2.66% 2.56% Global Corporate Trust 23.3 18.3 16.6 198.6 229.7 205.0 1.70% 2.51% 2.46% Employee Share Plans & Voucher Services 1.2 1.3 1.5 9.4 19.7 27.6 1.53% 2.95% 3.78% Mortgage Services & Property Rental Services 3.7 3.9 4.1 39.9 55.0 63.9 2.13% 2.84% 3.15% Business Services 1.2 0.7 0 14.1 10.6 0 2.33% 2.79% 0	Average Client Balances ($b) Margin Income ($m) Average Annualized Yield At actual rates 1H23 2H23 1H24 1H23 2H23 1H24 1H23 2H23 1H24 Total 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% By Region 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% Asia Pacific 0.9 0.9 0.8 4.6 6.3 7.5 1.01% 1.48% 1.94% EMEA 4.3 4.8 4.5 33.4 63.0 74.0 1.55% 2.63% 3.32% US 27.6 21.6 20.0 270.5 319.0 302.3 1.96% 2.95% 3.02% Canada 4.3 3.6 3.5 35.6 43.0 47.0 1.67% 2.37% 2.65% By Product Line 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% Register Maintenance 3.8 3.8 3.4 41.8 63.8 67.8 2.22% 3.38% 3.92% Corporate Actions 3.9 2.9 3.2 40.3 52.5 66.5 2.09% 3.62% 4.17% Issuer Services 7.7 6.7 6.6 82.1 116.3 134.3 2.16% 3.48% 4.04% Legacy Corp Trust 5.6 2.6 2.5 35.2 20.8 24.1 1.25% 1.62% 1.89% Computershare Corporate Trust 17.7 15.7 14.1 163.4 208.9 180.9 1.85% 2.66% 2.56% Global Corporate Trust 23.3 18.3 16.6 198.6 229.7 205.0 1.70% 2.51% 2.46% Employee Share Plans & Voucher Services 1.2 1.3 1.5 9.4 19.7 27.6 1.53% 2.95% 3.78% Mortgage Services & Property Rental Services 3.7 3.9 4.1 39.9 55.0 63.9 2.13% 2.84% 3.15% Business Services 1.2 0.7 0 14.1 10.6 0 2.33% 2.79% 0	Average Client Balances ($b) Margin Income ($m) Average Annualized Yield At actual rates 1H23 2H23 1H24 1H23 2H23 1H24 1H23 2H23 1H24 Total 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% By Region 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% Asia Pacific 0.9 0.9 0.8 4.6 6.3 7.5 1.01% 1.48% 1.94% EMEA 4.3 4.8 4.5 33.4 63.0 74.0 1.55% 2.63% 3.32% US 27.6 21.6 20.0 270.5 319.0 302.3 1.96% 2.95% 3.02% Canada 4.3 3.6 3.5 35.6 43.0 47.0 1.67% 2.37% 2.65% By Product Line 37.1 30.9 28.8 344.1 431.3 430.8 1.86% 2.79% 2.99% Register Maintenance 3.8 3.8 3.4 41.8 63.8 67.8 2.22% 3.38% 3.92% Corporate Actions 3.9 2.9 3.2 40.3 52.5 66.5 2.09% 3.62% 4.17% Issuer Services 7.7 6.7 6.6 82.1 116.3 134.3 2.16% 3.48% 4.04% Legacy Corp Trust 5.6 2.6 2.5 35.2 20.8 24.1 1.25% 1.62% 1.89% Computershare Corporate Trust 17.7 15.7 14.1 163.4 208.9 180.9 1.85% 2.66% 2.56% Global Corporate Trust 23.3 18.3 16.6 198.6 229.7 205.0 1.70% 2.51% 2.46% Employee Share Plans & Voucher Services 1.2 1.3 1.5 9.4 19.7 27.6 1.53% 2.95% 3.78% Mortgage Services & Property Rental Services 3.7 3.9 4.1 39.9 55.0 63.9 2.13% 2.84% 3.15% Business Services 1.2 0.7 0 14.1 10.6 0 2.33% 2.79% 0
At actual rates 1H23 2H23	1H24	1H24
Total 37.1 30.9	28.8	2.99%
By Region 37.1 30.9 Asia Pacific 0.9 0.9 EMEA 4.3 4.8 US 27.6 21.6 Canada 4.3 3.6 By Product Line 37.1 30.9 Register Maintenance 3.8 3.8 Corporate Actions 3.9 2.9 Issuer Services 7.7 6.7 Legacy Corp Trust 5.6 2.6 Computershare Corporate Trust 17.7 15.7 Global Corporate Trust 23.3 18.3 Employee Share Plans & Voucher Services 1.2 1.3 Mortgage Services & Property Rental Services 3.7 3.9 Business Services 1.2 0.7	28.8 0.8 4.5 20.0 3.5 28.8 3.4 3.2 6.6 2.5 14.1 16.6 1.5 4.1 0	2.99% 1.94% 3.32% 3.02% 2.65% 2.99% 3.92% 4.17% 4.04% 1.89% 2.56% 2.46% 3.78% 3.15% 0

The average annualised yield reflects the benefit of hedges unwound in June 2020. $5.04m in FY23 (1H23 $3.0m). $1.59m in 1H24.
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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Exposed and non-exposed average balances by business

	1H23 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	1H23 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	1H23 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	2H23 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	2H23 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	2H23 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	1H24 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	1H24 Balances (USDbn) Margin Income (USDm) Exp Non-Exp	1H24 Balances (USDbn) Margin Income (USDm) Exp Non-Exp
Register Maintenance	3.4	0.3	41.8	3.2	0.5	63.8	3.2	0.3	67.8
Corporate Actions	2.7	1.2	40.3	2.5	0.4	52.5	2.8	0.4	66.5
Issuer Services	6.1	1.5	82.1	5.7	0.9	116.3	6.0	0.7	134.3
Legacy Corp Trust	2.2	3.8	35.2	1.3	1.7	20.8	0.9	1.7	24.1
Computershare Corporate Trust	9.9	7.8	163.4	11.7	4.0	209.0	8.8	5.3	180.9
Global Corporate Trust	12.1	11.6	198.6	12.9	5.7	229.8	9.7	7.0	205.0
Employee Share Plans & Voucher Services	1.1	0.1	9.4	1.1	0.3	19.6	1.2	0.3	27.6
Mortgage Services & Property Rental Services	3.4	0.3	39.9	1.8	2.1	55.0	1.7	2.4	63.9
Business Services	0.5	0.3	14.1	0.2	0.2	10.6	0.0	0.0	0.0
Totals	23.3m	13.8m	344.1m	21.7m	9.2m	431.3m	18.5m	10.3m	430.8m
Total average balances Margin Income Average annualised yield	37.1bn 301.2m 42.9m 2.59% 0.62%			30.9bn 372.8m 58.5m 3.43% 1.27%			28.8bn
Margin Income	301.2m	42.9m		372.8m	58.5m		367.3m	63.5m
Average annualised yield	2.59%	0.62%		3.43%	1.27%		3.94%	1.22%

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• 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.

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

	2H24	1H25	2H25	1H26	2H26	1H27	2H27	1H28	2H28	1H29
Exposed: Hedged balances ($bn)
By Profile	9.3	9.0	8.8	8.5	7.5	6.5	5.6	4.7	4.5	4.4
Fixed rate deposits	4.1	3.8	3.6	3.6	3.0	2.1	1.3	0.8	0.7	0.7
Fixed rate swaps	5.2	5.2	5.2	4.9	4.5	4.4	4.3	3.9	3.8	3.7
Split by Currency	9.3	9.0	8.8	8.5	7.5	6.5	5.6	4.7	4.5	4.4
AUD	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0
CAD	0.5	0.3	0.3	0.3	0.3	0.3	0.2	0.0	0.0	0.0
GBP	1.4	1.4	1.2	1.2	0.6	0.0	0.0	0.0	0.0	0.0
USD	7.3	7.2	7.2	6.9	6.5	6.2	5.4	4.7	4.5	4.4
Average Weighted Hedged Yield	2.84%	2.82%	2.83%	2.80%	2.85%	2.98%	3.07%	3.05%	3.03%	3.02%
Exposed: Non-hedged (floating rate deposits) ($bn)
By Profile	2.1	1.7	1.4	1.3	0.9	0.6	0.5	0.5	0.5	0.5
Floating rate deposits	2.1	1.7	1.4	1.3	0.9	0.6	0.5	0.5	0.5	0.5
Split by Currency	2.1	1.7	1.4	1.3	0.9	0.6	0.5	0.5	0.5	0.5
AUD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
CAD	0.6	0.5	0.5	0.4	0.3	0.3	0.3	0.3	0.3	0.3
GBP	0.5	0.5	0.5	0.5	0.2	0.0	0.0	0.0	0.0	0.0
USD	1.1	0.7	0.4	0.4	0.4	0.3	0.2	0.2	0.2	0.2

Figures represent average notional balances for each half as at 31 December 2023.
CPU manages client balances in line with internal policies around counterparty credit risk, concentration of deposit risk and minimum levels of hedging.
Replacement/additional fixed rate deposits/swaps will continue to be implemented throughout FY24 and beyond.

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Debt Facilities Maturity Profile and Composition – at 31 December 2023

Maturity Profile

Composition of drawn debt facilities

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• Diverse sources of debt now in the
Undrawn
portfolio with public and private
bank 8%
bonds combined with Bank facilities
facilities:
$172.4m • Average debt facility maturity was 3.9 30%
years at 31 December 2023. This
includes undrawn SLS advance
1000
facilities. $2,654.5m 33%
900 • Total debt drawn – 0% fixed and
100% floating; 82% USD, 14% GBP
and 5% AUD
800
• 29%
Average cost of debt for 1H FY24 is
700 17.4 6.96%
600
500
155.0
482.6
400
300 584.3
200 395.0
350.0
100 220.0 205.9 200.0 216.8
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
57
USD Million
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Balance Sheet

Balance Sheet
At actual rates		1H21	FY21	1H22	FY22	1H23	FY23	1H24
		Dec	Jun	Dec	Jun	Dec	Jun	Dec
Current Assets	USD M	1,491.1	1,718.7	1,946.7	2,007.9	2,081.0	2,173.4	2,955.7
Non Current Assets	USD M	3,663.6	3,533.2	4,149.5	4,050.4	4,131.3	3,972.9	3,225.8
~~$166.2m~~ ~~Up 42.4%~~ Total Assets	USD M	5,154.7	5,251.9	6,096.2	6,058.3	6,212.4	6,146.4	6,181.5
Current Liabilities	USD M	837.3	995.7	1,156.2	1,270.1	792.2	1,292.4	1,260.8
Margin Non Current Liabilities	USD M	2,689.7	1,976.6	2,721.3	2,628.8	3,344.2	2,713.0	2,808.1
~~315%~~ ~~Up 630bps~~ Total Liabilities	USD M	3,527.0	2,972.3	3,877.5	3,898.9	4,136.4	4,005.4	4,068.9
~~.~~ Total Equity	USD M	1,627.7	2,279.6	2,218.8	2,159.4	2,075.9	2,141.0	2,112.6

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	1,310.7
Net debt to EBITDA ratio	Times	2.66	1.42	2.32	1.90	1.55	1.00	1.01
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	1,105.1
Net debt to EBITDA ratio excludingnon-recourse SLS Advance debt	Times	2.24	1.07	2.02	1.64	1.33	0.85	0.85
EBITDA Interest Coverage ratio	Times	10.1	11.5	11.6	12.0	10.1	9.1	7.3

ROE1	%	16.6%	14.7%	15.9%	15.6%	22.3%	30.1%	34.1%
ROIC2	%	10.2%	10.9%	10.4%	12.2%	15.5%	22.7%	25.3%

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). 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. Cash classified as an “asset held for sale” is included in the net debt calculation in 1H24 ($104.4m), FY22 ($29.9m) and 1H22 ($33.0m).

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	1H24
Net operatingreceipts andpayments	238.9	543.6	277.7	592.8	377.4	914.2	543.2
Net interest and dividends	-38.2	-75.3	-38.8	-78.2	-49.1	-109.5	-65.2
Income taxespaid	-76.6	-92.9	-35.6	-76.2	-80.8	-181.0	-108.1
Netoperating cash flows excluding SLS advances	124.1	375.4	203.3	438.4	247.5	623.7	369.9

~~$166.2m~~ ~~Up 42.4%~~ Cash outlayon business capital expenditure	-8.0	-16.3	-12.3	-42.8	-17.2	-41.9	-17.2
Net cash outlayon MSRpurchases – Maintenance1and sales*	-45.1	-99.0	-9.5	-73.0	-102.0	-70.6	-56.5
~~Margin~~
Free cash flow excluding SLS advances	71.0	260.1	181.5	322.6	128.3	511.1	296.3
~~31.5%~~ ~~Up 630bps~~
SLS advance fundingrequirements2	-2.7	-27.5	-3.5	28.0	-57.9	-27.7	-28.2

Cash flowpost SLS advance funding2	68.3	232.6	178.0	350.6	70.4	483.5	268.1

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	-36.0
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		10.2
Total investing cash flows	-15.6	-32.0	-712.8	-730.4	2.2	36.8	-25.8

Netoperating and investing cash flows	52.7	200.6	-534.8	-379.8	72.6	520.3	242.3

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 rate-sensitive MSRs from 8 to 9 years for US Mortgage Services. 1H24 expense is $40.9m, FY23 expense is $102.8m and 1H23 expense is $60.8m. 2 Net operating and financing cash flows.

*Net MSR spend of $56.5m in 1H24 (purchases of $56.5m and no sales), $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	1H22	FY22	1H23	FY23	1H24
USD	1.0000	1.0000	1.0000	1.0000	1.0000
AUD	1.3622	1.3755	1.4895	1.4872	1.5309
HKD	7.7805	7.8003	7.8423	7.8386	7.8190
NZD	1.4326	1.4653	1.6506	1.6270	1.6539
INR	74.3249	75.0340	80.6575	81.4939	82.9649
CAD	1.2549	1.2625	1.3278	1.3408	1.3509
GBP	0.7310	0.7481	0.8502	0.8319	0.7974
EUR	0.8555	0.8821	0.9880	0.9571	0.9242
RAND	15.0063	15.2427	17.1471	17.6191	18.6898
RUB	72.8569	74.5346	59.2694	67.8286	93.4421
DKK	6.3617	6.5614	7.3497	7.1225	6.8905
SEK	8.6824	9.0871	10.6446	10.5526	10.7236
CHF	0.9189	0.9282	0.9683	0.9423	0.8848

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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 Australian Auditing Standards.Up 630bps
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. — Interim / Quarterly Report 2024

64696_rns_2024-02-12_d4289dc5-f950-4c27-94fa-382a3554b013.pdf

1H24 Results

Management EPS +23% vs. pcp

1H24 Proforma (ex US Mortgage Services) results relative to Group

Computershare’s integrated business model

Revenue definitions – see slide 43 for detail

1H24 overview

Growth in core fees, recovery and simplification build momentum

Simpler Computershare with higher returns - Executing well

Improving the consistency of our earnings

FY24 Outlook

Guidance reaffirmed; Management EPS expected to be up around 7.5%

Guidance

Key assumptions and sensitivities

1H24 Management results summary

MI growth and operating leverage drive margin expansion, +480 bps

1H24 Management EPS Margin Income drives earnings growth, EPS up 23%

1H24 to 2H24 Management EPS bridge Second half earnings growth, +11% vs. 1H

Margin Income and average client balances FY24 MI guidance now around $825m

Issuer Services

Increase in event and transactional revenues combined with stable registry business

1H24 highlights

Issuer Services Revenue ($m)

Global Corporate Trust

Major CCT integration complete; gateway to full synergy realisation

1H24 highlights

Employee Share Plans

Client wins, EquatePlus rollout and significant latent earnings power

1H24 highlights

Revenue excluding Margin Income ($m)

Outstanding shares and options under administration

1H24 costs analysis

Total costs up 1.0%. Excluding KCC +6.7%, BAU opex higher 4%

Cash flow and leverage

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

Building a simpler Computershare with higher quality earnings

Appendices

1. Constant currency analysis

2. Analysis at actual fx rates

Segment changes

1H24 Management results – constant currency and actual rates

Revenue, Margin Income, EBITDA and EBIT – constant currency

FY23 to FY24 Management EPS bridge

Mortgage Services

US mortgage business sold with closing targeted for March 1st; UK operations profitable

1H24 highlights

Portfolio analysis – shift to sub-servicing driving portfolio growth

ACTUAL FX RATE ANALYSIS

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

Global Corporate Trust

Employee Share Plans & Voucher Services Profit & Loss

Mortgage Services & Property Rental Services Profit & Loss

Communication Services & Utilities Profit & Loss

Business Services Profit & Loss

Technology Services & Operations Profit & Loss

Employee Share Plans Profit & Loss

Computershare Corporate Trust

UK Mortgage Services Profit & Loss

US Mortgage Services Profit & Loss

Revenue definitions

US Mortgage Services - UPB and number of loans

Key Definitions

US Mortgage Services - Invested Capital

Revenue definitions

1H24 Revenue by Business Unit and Geography

1H24 Revenue by Country (USD and Local Currency)

Revenue, EBITDA and EBIT by Region

Revenue excluding acquisitions and disposals

Cost out programs – 1H24

$38m cost out benefit to be achieved in FY24

COMPUTERSHARE LIMITED. Interim / Quarterly Report 2024