COMPUTERSHARE LIMITED. - Investor Presentation 2020

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FY20 FULL YEAR
RESULTS
PRESENTATION
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FY20 Results

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Resilient operating performance Margin Income headwinds Balance Sheet strength
▼ Margin ▼ Net Debt / ▲
Revenue Income EBITDA [2]
$2.3bn 1.9% $201m 18.3% 1.93x 0.09x
Final
Management ▼ Management ▼ Dividend Per 
EBITDA [1] EPS Share
$650m 3.7% 56.3cps 19.8% 23.0cps Maintained
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Notes: All figures in this presentation are presented in USD millions, unless otherwise stated. Reconciliation of statutory to management results can be found on slide 20. Percentage differences relevant to FY19 on a constant currency basis;[1 ] Includes impact of IFRS16[2] Excluding non-recourse SLS Advance debt.

FY20 Management EPS

Business tracking to FY20 plan, COVID-19 disruption, delivered on revised guidance

FY20A Management EPS vs. FY19A ▼ 5% + ▼10.2% + ▼4.6% = ▼ 19.8% Operating impacts One off Management actions • January and February earnings 8% ahead of budget • Forecast assisted by 2H seasonality 1H20 2H20 FY20 Margin Income Other earnings One off tax Employee Employee FY20 Management Management Management impact[1] impact on Leave and COVID-19 Management EPS EPS initial EPS initial intercompany other accruals financial EPS guidance guidance cash support movements

Notes:[1] Includes reduced corporate actions, deferred meetings and events, shareholder and employee trading deferrals and impact of foreclosure freezes and processing of forbearances

Pandemic response

	Impacts Response
Group	› Workplace health and safety › Group transactional earnings deterioration, recurring revenues resilient › Global market liquidity and volatility concerns › Preserving jobs, supporting employees › Work From Home (“WFH”) measures deployed for 92% of workforce › Increased market disclosure communications and continued guidance › Refinanced 2021 maturity debt
Issuer Services Employee Share Plans Mortgage Services Communication Services Business Services	› Corporate actions and shareholder transactional activity subdued › Ability to deliver shareholder meetings › Delivered inorganic growth options › Accelerating restructure initiatives › Successfully lobbied regulators to allow virtual meetings
	› Employee transactional activity deferred › Corporates delaying grants until full impact assessed › Provided data analytics to support corporates plan strategies in challenging remuneration environment › EquatePlus migrations maintained on schedule
	› US and UK payment holidays › US foreclosure freeze and potential increase in advances › Interest rate impact on previously purchased and new MSR purchases › Additional resources deployed to meet payment holiday demand › MSR purchases at lower prices: add value and extend duration to balance run off › New agency advance lending facility agreed
	› Bankruptcy activity increases › Class Actions delays in court process › Increased Canadian bank bond issuance activity › Delivered workforce for Bankruptcy needs › Provided increased volume support for our banking clients
	› North American peak proxy period with function unable to transition to WFH arrangements › Assisted clients with move to digital › Delivered onsite workforce to meet print demand requirements

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FY20 key priorities – execution scorecard Delivering on strategic plans

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Progress Result Progress Result
› Marginal operating earnings
1. Progress the › Asset migrations completed 4. Continue to deliver increase in US Register
restructure of our › Cost out program underway measurable Maintenance
› EBITDA impact as expected › Investing to enhance scale
UK Mortgage organic growth in
and capability – Corporate
Services business › Origination headwinds Issuer Services Creations, Verbatim Global
Compliance
› UPB up 16.4% with margin
5. Continue to
expansion
2. Continue to grow › Increased MSR investments transition to global › Global business structure
established – increased
our US Mortgage in favourably priced market business lines and
focus on growth and
Services business global service customer experience
› Market value below book
model
value
PROGRESS
3. Progress the › EquatePlus roll out on track 6. Progress our › Existing plans on track
upgrade of our › Post upgrade client efficiency › Assessing efficiency
share plans clients satisfaction and revenue initiatives opportunities following
opportunities strong recent workplace changes
to EquatePlus
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FY21 Outlook

Management EPS guidance of around 50.0 cps

Guidance

› While providing guidance is more challenging given heightened macro volatility, we remain committed to ongoing transparency
› In constant currency, for FY21 we expect:
Management EPS to be down by around 11%[1]
Seasonality split of around 40% 1H21 EPS : 60% 2H21 EPS
EBIT ex Margin Income growth to be up by around 10%[2]

FY21 Headwinds

› Margin Income yields reduce as term deposits run off
› Shareholder transactional activity expected to remain weak
› Employee Share Plans transaction volumes expected to be lower
› Government mortgage holiday impacting activity
› UKAR fixed fee roll-off

Key Assumptions

› Anticipate macro impacts to remain across our major markets with Government pandemic responses and impacts easing in 2H21
› Margin Income revenue to be around $100m
› MSR portfolio amortised over 8 years (previously 9 years) reflecting increased run-off in the current MSR portfolio
› Equity and interest rate markets remain at current levels / in line with current market expectations
› Group tax rate between 28.0% - 30.0%

FY21 Tailwinds

› Growing contribution from new Issuer Services businesses and growth initiatives
› Ongoing Equatex integration benefits
› US Mortgage Services capital light, sub-servicing and nonperforming loan opportunities
› FY20 MSR purchases undertaken at favourable pricing
› Existing cost out program continues to deliver
› For constant currency comparisons, FY20 average exchange rates are used to translate the FY21 earnings to USD[3]

Notes:[1] For comparative purposes FY20 Management EPS is 56.12 cents per share in FY20 constant currency,[2] The base FY20 Management EBIT ex Margin Income is $298.6m in FY20 constant currency;[3] 6 Refer to slide 73 for constant currency conversion rates

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FY21 Management EPS bridge

Positive earnings trajectory with improving margins

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FY21F Management EPS vs. FY20A ▼ c.11%
• ~2 cents impact
due to change in
Amortisation
policy
• ~1 cent impact
from growth in
portfolio
FY20 2H20 one off Reduced Incremental UKAR fixed fee UKAR cost Operational FY21
Management management Margin Income MSR roll off savings earnings Management
EPS actions amortisation growth EPS guidance
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Notes: EPS breakdown is provided for indicative purposes and forms part of EPS Key Assumptions[1] FY20 Management EPS is 56.12 cents per share in FY20 constant currency (56.34 on FY19A constant currency 7 basis);[2] Refer to slide 73 for constant currency conversion rates

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FY20 Management Results summary

Businesses operating resiliently, Margin Income declining, disciplined cost controls

	FY20 Actual (at FY19 CC)	FY20 Actual
Margin Income	$201.4 $246.5 -18.3% $2,311.8 $2,356.5 -1.9% $1,662.1 $1,680.6 -1.1% $650.0 $674.9 -3.7% $78.9 $37.5 +110.4% $70.9 $47.3 +49.9% $500.2 $590.1 -15.2% $66.3 $66.7 -0.6% $433.9 $523.4 -17.1% $128.8 $138.8 -7.2% $305.0 $381.4 -20.0% 56.34 70.24 -19.8% 78% 77% +1.0% 14.2% 16.3% -2.1% 19.5% 26.4% -6.9% 12.2% 14.8% -2.6% 55.1% 45.0% +10.1% 23.0 23.0 Maintained	$199.4
Total revenue		$2,281.2
Operatingcosts		$1,635.1
EBITDA1		$646.4
Depreciation		$77.5 $70.8
Amortisation
EBIT		$498.0
Interest expense		$66.3
Profit Before Tax		$431.7
Income tax expense		$127.8
NPAT		$303.8
Management EPS (cents)		56.12
Recurring Revenue EBIT ex Margin Income margin (%) ROE2 ROIC³ Full year Payout Ratio Final Dividend Per Share (cents)

Notes:[1] FY20 IFRS16 impact in constant currency: EBITDA: +$48.4m, Depreciation +$42.3m, Interest +$7.0m, NPAT -$0.7m ² Return of Equity = rolling 12 month Mgmt. NPAT/rolling ave. Total Equity ³ Return on Invested Capital (ROIC) = (Management EBITDA less depreciation & amortisation less income tax expense)/(net debt + total equity)

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Margin Income

Margin Income decreased to $199.4m, -19.1% with $17.2bn average balances

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25.0 Reflects reduction 140.0
125.2 in global interest
121.2
rates
116.0
120.0
20.0
99.9
100.0
89.4
86.4 83.4
79.0 79.6
15.0 74.3
80.0
69.6
66.6
60.0
10.0 c.50.0 c.50.0
40.0
FY21 balances
5.0
assumed to be
20.0
$14.0 – 15.0bn
15.1 15.2 15.0 16.3 16.6 16.8 17.3 16.6 21.0 16.1 16.8 17.6
0.0 0.0
1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H21
Outlook Outlook
Average balances Margin Income (USD m)
USD billions USD millions
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Note: Margin Income and balances translated at actual FX rates for the period. In constant currency, Margin Income for FY20 is $201.4m, down 18.3%.

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Issuer Services

Resilient Register Maintenance with lower event-based revenues

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Mgmt EBITDA ex. Margin Income Revenue breakdown FY20 CC FY19 Actual CC Variance
Register Maintenance $673.3 $700.8 -3.9%
$183.7m ▼ 8.7% Corporate Actions $136.1 $157.9 -13.8%
Stakeholder Relationship Management $59.2 $67.3 -12.0%
Issuer Services - Other $38.5 $25.9 +48.6%
Margin: Total revenue $907.2 $951.9 -4.7%
▼ 180bps
22.2% Mgmt EBITDA $263.0 $313.6 -16.1%
Mgmt EBITDA margin 29.0% 32.9% -3.9%
Mgmt EBIT ex Margin Income $181.7 $198.2 -8.3%
Mgmt EBIT ex Margin Income margin 21.8% 23.6% -1.7%
Key priorities US managed shareholder accounts
19.0
FY18 FY19 FY20
Continue momentum
1 Global Net Wins /
with client wins 293 354 195 18.0
(Losses)Losses)) [[1]]
Expand and cross sell 17.0
2
registered agent services
16.0
3 Build out entity 15.0 FY18Q1 FY18Q2 FY18Q3 FY18Q4 FY19Q1 FY19Q2 FY19Q3 FY19Q4 FY20Q1 FY20Q2 FY20Q3 FY20Q4
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FY18 FY19 FY20 Continue momentum 1 Global Net Wins / with client wins 293 354 195 (Losses)Losses))[[1]] Expand and cross sell 2 registered agent services Build out entity 3 management capability

› Steady growth demonstrated since 2018

Notes: Unless otherwise specified percentage differences relevant to FY19 on a constant currency basis[1] Excludes uncontrollable losses (eg Delisting, M&A)

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Employee Share Plans

Equatex continues to deliver, upgrade to new platform underway

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Mgmt EBITDA ex. Margin Income
$44.6m ▼ 13.9%
Margin:
▼ 300bps
15.9%
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Revenue breakdown	FY20 CC	FY19 Actual	CC Variance
Fee revenue	$138.8	$130.4	+6.4%
Transactional revenue	$130.1	$128.2	+1.5%
Margin income	$11.5	$15.7	-26.8%
Other revenue Total revenue Mgmt EBITDA1 Mgmt EBITDA margin Mgmt EBIT ex Margin Income Mgmt EBIT ex Margin Income margin	$12.6 $293.1 $56.1 19.1% $41.1 14.6%	$14.7 $289.0 $67.5 23.3% $49.1 18.0%	-14.3% +1.4% -16.9%1 -4.2% -16.3% -3.4%

Key priorities

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Continue to win new FY20 growth pcp in net
1 7%
clients competitive wins
Satisfaction level for
2 Equate Plus Roll out 96% EquatePlus clients post-
upgrade
Enhanced tax mobility
3 Innovation and financial reporting
solutions
▼
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Notes:[1] FY19 only includes 8 months of Equatex, integration costs impacting EBITDA

Total outstanding shares & options under administration

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200 AUA Units 30.0
25.0
150
20.0
100 15.0
10.0
50
5.0
0 0.0
FY18Q1 FY18Q2 FY18Q3 FY18Q4 FY19Q1 FY19Q2 FY19Q3 FY19Q4 FY20Q1 FY20Q2 FY20Q3 FY20Q4
› Q4 recovery in AUA, latent transactional revenue maintained
› Structural trend of equity remuneration accelerated
AUA Billions
Shares/Options/Units
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Mortgage Services

US asset servicing strategy on track, UK loan migration complete

Mgmt EBIT	ex. Margin Income	ex. Margin Income
$33.4m	▼	43.0%
Margin: 5.4%	▼	460bps

Revenue breakdown	FY20 CC	FY19 Actual	CC Variance
US Mortgage Services	$438.7	$360.7	+21.6%
UK Mortgage Services	$202.1	$255.2	-20.8%
Total revenue	$640.9	$615.9	+4.1%
Mgmt EBITDA1 Mgmt EBITDA margin Mgmt EBIT ex Margin Income Mgmt EBIT ex Margin Income margin	$127.1 19.8% $33.4 5.4%	$134.5 21.8% $58.6 10.0%	-5.5% -2.0% -43.0% -4.6%

Note: FY20 UK Mortgages EBIT loss of ($7.8m), US Mortgages EBIT ex Margin Income margin 9.9%, increased by 320 bps

Key priorities

Growth in sub-servicing

Growth in US capital light Increase in capital light 1 +11.2% revenues sub servicing UPB Growth in underlying Improvement in US 2 320bps US EBIT margin ex operating margins Margin Income $16.6m cost savings Delivery of UK cost out 3 delivered on UK cost program base of $122.5m

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140.0 800000
120.0 700000
600000
100.0
500000
80.0
400000
60.0
300000
40.0
200000
20.0 100000
- 0
SS UPB ($) SS Loan Count (#) Total UPB ($) Total Count (#)
Loan Count (#)
UPB ($ in millions)
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12 Notes:[1] UK Mortgage Services EBITDA loss making ($6.6m)

Business Services

Activity growing in countercyclical revenue

Mgmt EBITDA ex. Margin Income $32.5m ▼ 0.3% Margin: ▲ 150bps 17.3%

Revenue breakdown	FY20 CC	FY19 Actual	CC Variance
Corporate Trust	$92.1	$85.7	+7.5%
Bankruptcy	$51.6	$42.9	+20.3%
Class Actions	$101.2	$121.1	-16.4%
Karvy Total revenue Mgmt EBITDA Mgmt EBITDA margin Mgmt EBIT ex Margin Income Mgmt EBIT ex Margin Income margin	- $244.9 $89.1 36.4% $31.6 16.8%	$17.0 $266.7 $92.6 34.7% $31.8 15.4%	-100.0% -8.2% -3.8% +1.7% -0.6% +1.4%

Key priorities

Debt under administration

FY20 YoY growth in US Geographic expansion in 1 18% Corporate Trust Corporate Trust services mandates Trustee & Fiduciary Innovation in products & 2 2x Services balances services doubled Bankruptcy Market Share Market Share position 3 #2 growth retained in FY20

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2,500
2,000
1,500
1,000
500
-
FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
$ Bn
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› Debt capital market trends provide long term growth

› Bankruptcy case volume momentum continues

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Operating cost analysis

Cost in line with expectations – flat, excluding IFRS16, acquisitions and disposals

	FY20 @ CC	FY19	CC Variance	FY20
Cost of Sales	$378.0	$378.4	-0.1%	$371.8

Personnel	$1,020.2	$1,009.5	+1.1%	$1,004.3
Fixed/Perm	$971.3	$951.7	+2.1%	$956.2
Variable/Temp	$48.9	$57.8	-15.4%	$48.1
Occupancy	$33.5	$77.5	-56.8%	$32.7
Other Direct	$120.6	$108.1	+11.6%	$118.3
Computer/External Technology	$109.9	$107.2	+2.5%	$107.9
Total Operating Costs	$1,662.1	$1,680.6	-1.1%	$1,635.1

Under IFRS16, $48.4m of occupancy costs have been reclassified as depreciation ($42.3m) and interest ($7.0m)

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Notes: Refer to slide 41 for Technology costs at actual FX rates. Computer/External technology includes hardware, software licenses, network and voice costs, 3[rd] party vendor fees and data centre costs. Acquisitions: Equatex (Nov 18), LenderLive (Dec 18), Corporate Creations (Feb 20). Disposals: Karvy (Nov 18)

Cost out programs Upgraded long term cost savings

$M Activity	Total cost savings estimates	FY17A	FY18A	Benefit realisation (cumulative) FY19A FY20A FY20 change vs. last disclosure2 FY21E	Benefit realisation (cumulative) FY19A FY20A FY20 change vs. last disclosure2 FY21E	Benefit realisation (cumulative) FY19A FY20A FY20 change vs. last disclosure2 FY21E	Benefit realisation (cumulative) FY19A FY20A FY20 change vs. last disclosure2 FY21E	FY22E	FY23E	Stage Total change vs. last disclosure2
Stage 1 Total	25 - 30	7.8	14.0	21.8	28.1	▲0.5m	28.1	28.1	28.1	►0.1m
Stage 2 Total	60 - 70	5.9	35.4	54.1	62.9	►(0.1m)	65.0	66.8	66.8	►0.2m
Stage 3 Total	40 - 55			4.3	15.5	▲1.2m	41.5	51.7	60.9	▲15.5m
Total estimate	125 - 155	13.7	49.4	80.1	106.5		134.6	146.6	155.8
Equatex synergies	30				7.2	▼(0.4m)	18.2	30.0	30.0	No change
UK Mortgage Services1	50				16.6	▲2.5m	36.4	50.0	50.0	No change
Total cost savings	205-235	13.7	49.4	80.1	130.3	▲3.7m	189.3	226.7	235.9	▲15.9m
Cost to achieve (net tax)3		20.5	13.4	14.8	14.8		25-30	TBD4

› Stage 3 target savings increased to reflect opportunities identified following move to global business lines

› Assessing additional cost out opportunities following COVID-19 related changes in workplace operations

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Notes:[1] This does not include the $36m of current IT costs that are expected to cease post migration to single platform[2 ] Last disclosure at 1H20[3 ] Costs to achieve are not cumulative[4] Management 15 evaluating cost to achieve

Cash flow and balance sheet

Strong cashflow funds growth and shareholder returns

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Cashflow Net Debt / EBITDA [2] (x)
Cashflows and shareholder distributions (US$M) 2.25x
Leverage 1.93x
1.84x
target
505.9 Acquisitions range
Capex
1.75x 1.33x
MSR
Maintenance MSR
Investments [1]
Dividends
58.9
FY18 FY19 FY20
Net Free Cash Net Cash
Operating Flow Flow Net Debt (US$M) 827.5 1,241.4 1,244.9
cash flow
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Notes:[1] MSR Investments is net of excess strip sales[2 ] EBITDA includes impact of IFRS16 from FY20 and ratio excludes non-recourse SLS Advance debt

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Medium term operating guidance Earnings trajectory recovering with improving margins

	Organic revenue trend	Margin outlook	Key drivers – ex Margin Income

Group	2-5%	Modestly increasing	› Delivering on global service model › Investing in growth engines and adjacent markets › Progress and extend cost efficiency programs
Issuer Services Communication Services Employee Share Plans Mortgage Services Business Services	0-3%	Consistent	› Consistent client wins and shareholder growth › Cyclical corporate actions activity › Capture new structural growth in adjacent markets
	~5%	Increasing	› Growth in equity remuneration and assets under administration › EquatePlus roll out to drive market share growth
	~5%	Increasing	› US: Growth in UPB and capital light revenues › UK: Ongoing execution of restructuring program
	~5%	Consistent	› Corporate Trust: Geographic expansion › Claims Administration: Client wins
	(3%) - 0%	Consistent	› Digital communications transition

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Conclusions

› Computershare is operating resiliently – prioritising employee welfare and high service levels to customers
› Events and market facing businesses now showing some early signs of recovery
› Continuing to focus on what we can control. Executing projects, maintaining cost disciplines and investing our free cash flow in growth investments, acquisitions and returns for shareholders – dividend maintained
› While forecasting is more uncertain, we are providing FY21 guidance to assist investors
Management EPS down around 11% versus pcp, assumes c.$100m fall in Margin Income due to lower interest rates
We expect around 10% growth in Management EBIT ex Margin Income
› Computershare determined to come out of the pandemic stronger with long term growth strategies intact and market opportunities enhanced

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APPENDICES

Statutory results Management Revenue, EBITDA and EBIT analysis FY20 Management NPAT analysis Management EPS – AUD equivalent Effective tax rate Dividend history and franking Cash Flow analysis Balance Sheet Key financial ratios Debt facility maturity profile IFRS16/AASB16 CAPEX versus depreciation Technology costs Financial performance by half year at actual FX rates FY20 Computershare at a glance Recurring Revenue analysis Register Maintenance and Employee Share Plans Mortgage Services Business Services revenue Management revenue by region Client balances Exchange rates Previous business stream reporting

Statutory results

FY20	FY19	Vs FY19 (pcp)
Total Revenues $2,281.2m	$2,469.0m	-7.6%
Total Expenses $1,957.1m	$1,939.7m	+0.9%
Statutory Net Profit (post NCI) $232.7m	$415.7m	-44.0%
Earnings per share (post NCI) 42.97 cents	76.57 cents	-43.9%
Reconciliation of Statutory Revenue to Management Results Total Revenue per statutory results Management Adjustments Marked to market adjustments – derivatives Total Management Adjustments Total Revenue per Management Results Reconciliation of Statutory NPAT to Management Results		FY20 $2,281.2m - - $2,281.2m FY20
Net profit after tax per statutory results		$232.7m
Management Adjustments (after tax)
Amortisation		$42.6
Acquisitions and Disposals		$5.9
Other		$22.7
Total Management Adjustments		$71.2
Net Profit after tax per Management Results		$303.8m

› Management results are used, along with other measures, to assess operating business performance. The Company believes that exclusion of certain items permits better analysis of the Group’s performance on a comparative basis and provides a better measure of underlying operating performance.
› Management adjustments are made on the same basis as in prior years.
› Non-cash management adjustments include significant amortisation of identified intangible assets from businesses acquired in recent years, which will recur in subsequent years, asset disposals and other one-off charges.
› Cash adjustments are predominantly expenditure on acquisition-related and other restructures and will cease once the relevant acquisition integrations and restructures are complete.
› A full description of all management adjustments is included on slide 21.
› 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 Appendix 4E note 3

Amortisation

› Customer relationships and most of other intangible assets that are recognised on business combinations or major asset acquisitions are amortised over their useful life in the statutory results but excluded from management earnings. The amortisation of these intangibles in the year ended 30 June 2020 was $42.6 million. Amortisation of mortgage servicing rights, certain acquired software as well as intangibles purchased outside of business combinations is included as a charge against management earnings.

Acquisitions and disposals

› Acquisition related expenses of $14.6 million were incurred related to the integration of Equatex and $1.1 million related to the acquisition of Corporate Creations.
› A deferred tax asset of $7.7 million was recognised for tax losses not previously recognised on the Equatex acquisition.
› A true-up of the one-off tax expense recognised as a result of the Equatex IP restructure in the prior financial year resulted in a tax benefit of $1.1 million.
› A gain of $1.0 million resulted from an adjustment to prior period acquisition accounting.

Other

› Costs of $19.9 million were incurred in respect of major restructuring programmes spanning several years and comprising specified significant cost-out initiatives and related workforce reductions. In the current reporting period, these costs related mainly to UK Mortgage Services, Global Issuer Services and Shared Services.
› Derivatives that have not received hedge designation are marked to market at the reporting date and taken to profit and loss in the statutory results. The marked to market valuation resulted in a loss of $2.8 million.

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Management revenue bridge

Increased contributions from US Mortgage Services and Employee Share Plans with lower event-based and Margin Income revenues

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2,400
2,380 4.5
18.4
2,360 29.6 2.0 1.9
2,356.5 11.6
2,340
45.0
2,320
2,311.8
2,300
30.6
2,280
2,281.2
2,260
2,240
2,220
USD million
FY19 Mgt Revenue Business Services FX FY20 Mgt Revenue
Mortgage Services & Services Services Services & Utilities Corporate & Technology Revenue
Issuer Services Property Rental Employee Share Plans & Voucher Communication Margin Income FY20 @ CC Mgt
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22 Karvy FY19 revenue $23.5m: Business Services $17.0m, Issuer Services $6.5m

Management revenue by business stream

Revenues down 1.9%, +1.1% adjusting for Margin Income and Karvy

	FY20 @ CC	FY19	CC Variance	FY20
Issuer Services	$907.2	$951.9	-4.7%	$894.7
Mortgage Services & Property Rental Services	$671.5	$646.1	+3.9%	$665.1
Employee Share Plans & Voucher Services	$308.0	$307.7	+0.1%	$304.6
Business Services	$244.9	$266.7	-8.2%	$243.6
Communication Services & Utilities	$175.8	$177.8	-1.1%	$168.8
Corporate & Technology	$4.5	$6.3	-28.6%	$4.2
Total Group	$2,311.8	$2,356.5	-1.9%	$2,281.2

› Group revenues decrease by 1.9% with the balance of growth in Mortgage Services & Property Rental Services, +3.9% and Employee Share Plans & Vouchers, +0.1% offsetting declines in Register Maintenance (-3.9%), Corporate Actions (-13.8%) and Stakeholder Relationship Management (-12.0%). 2H20 includes some benefit from the Corporate Creations acquisition.
› Revenue excluding Margin Income and Karvy disposal (FY19 $23.5m) was +1.1% at $2,110.4m. A strong result given UKAR Fixed fee reduction as expected ($40.9m)
› Business Services ex Karvy was down 1.9%. This was driven by lower Class Actions volumes and Margin Income decline partly offset by the increased volume in the Bankruptcy business and underlying growth in Corporate Trust.
› Employee Share Plans & Vouchers includes annualised contribution from Equatex (additional 4 months in FY20 vs. FY19), partly offset by lower transactional activity given the volatility in equity market conditions due to COVID-19. Childcare Vouchers remain in structural decline, FY20 revenue decline by $3.8m
› Corporate & Technology includes third party technology revenues, rental income and other corporate related transaction income

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Revenue and EBITDA by business stream at actual FX rates

	FY20 REVENUE	FY20 EBITDA	FY20 EBITDA MARGIN %	FY19 REVENUE	FY19 EBITDA	FY19 EBITDA MARGIN %
Issuer Services	$894.7	$260.5	29.1%	$951.9	$313.6	32.9%
Mortgage Services & Property Rental Services	$665.1	$141.2	21.2%	$646.1	$150.2	23.3%
Employee Share Plans & Voucher Services	$304.6	$65.7	21.6%	$307.7	$80.3	26.1%
Business Services	$243.6	$88.2	36.2%	$266.7	$92.6	34.7%
Communication Services & Utilities	$168.8	$30.8	18.3%	$177.8	$37.9	21.3%
Corporate & Technology	$4.2	$60.0	n/a	$6.3	$0.2	n/a
Total Group	$2,281.2	$646.4	28.3%	$2,356.5	$674.9	28.6%

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Management revenue and EBITDA at actual FX rates

				Revenue by Region	Revenue by Region	Revenue by Region				EBITDA	EBITDA	by Region
	2,000.0 2,500.0		214.5 2,300.9			195.2 2,356.6	185.8 2,281.2		700.0 800.0	622.6		85.8 674.9	646.4
USD millions	0.0 500.0 1,000.0 1,500.0		247.5 154.4 489.7 106.9 1,087.9			220.4 119.1 580.3 104.4 1,137.2	196.4 112.5 527.0 87.5 1,172.0	USD millions	0.0 100.0 200.0 300.0 400.0 500.0 600.0	25.4 56.4 107.7 18.4 323.5 91.3		24.7 43.3 136.2 18.6 366.2	24.1 45.1 93.1 10.9 386.1 87.0
				FY18		FY19	FY20			FY18		FY19	FY20
	Australia	&	NZ	Asia	UCIA	Continental Europe	USA Canada		Australia & NZ	Asia	UCIA	Continental Europe	USA	Canada

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EBITDA and margins by business stream EBITDA $650.0m, -3.7% includes IFRS16 benefit

				Operating Margin	Operating Margin
	FY20 @ CC	FY19	CC Variance	FY20 @ CC	FY19
Issuer Services	$263.0	$313.6	-16.1%	29.0%	32.9%
Mortgage Services & Property Rental Services	$141.4	$150.2	-5.9%	21.1%	23.3%
Employee Share Plans & Voucher Services	$66.3	$80.3	-17.4%	21.5%	26.1%
Business Services	$89.1	$92.6	-3.8%	36.4%	34.7%
Communication Services & Utilities	$31.7	$37.9	-16.4%	18.0%	21.3%
Corporate & Technology	$58.4	$0.2	+29100%	n/a	n/a
Total Management EBITDA	$650.0	$674.9	-3.7%	28.1%	28.6%

› Management EBITDA $650.0m, -3.7% - includes IFRS16 benefit of $48.4m (in Corporate & Technology). FY19 includes Karvy contribution of $8.6m, largely Business Services
› Performance Incentives previously included in Corporate and Technology are now allocated to the business streams
› Group EBITDA margins 28.1%, excluding IFRS16 benefit 26.0% in line with 10 year 1H performance range; 25.2-30.5%*

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10 year 1H average at actual FX rates

Management EBITDA excluding the impact of Margin Income and FX movements increased by 5.1% in FY20 versus pcp

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447.0
431.2 425.2
401.7
369.3
355.0
318.7
252.8
FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
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Note: Management EBITDA translated at FY20 average rates and excludes Margin Income. FY20 EBITDA ex MI includes IFRS16 benefit of $47.9m

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EBITDA and Margin Income by business stream EBITDA ex Margin Income $448.5m

	FY20 EBITDA @ CC	FY20 MI @ CC	FY20 EBITDA ex MI @ CC	FY19 EBITDA @ CC	FY19 MI @ CC	FY19 EBITDA ex MI @ CC	CC Variance
Issuer Services	$263.0	$79.3	$183.7	$313.6	$112.4	$201.2	-8.7%
Mortgage Services & Property Rental Services	$141.4	$53.9	$87.5	$150.2	$58.2	$92.1	-5.0%
Employee Share Plans & Voucher Services	$66.3	$11.6	$54.7	$80.3	$15.9	$64.4	-15.1%
Business Services	$89.1	$56.6	$32.5	$92.6	$60.0	$32.6	-0.3%
Communication Services & Utilities	$31.7	-	$31.7	$37.9	-	$37.9	-16.4%
Corporate & Technology	$58.4	-	$58.4	$0.2	-	$0.2	+29100%
Total Group	$650.0	$201.4	$448.5	$674.9	$246.5	$428.4	+4.7%

› Excluding Margin Income and adjusting for Karvy and IFRS16, EBITDA down 4.7% at $400.1m vs. $419.8m
› Margin Income of $201.4m. Average exposed balances of $11.4bn (pcp $12.1bn) with average annualised yield of 1.55% (pcp 1.74%)[*]

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28 * Average balances are translated at actual FX rates

Management EBITDA ex Margin Income by business stream FY20 and FY19 at actual FX rates

	FY20 EBITDA	FY20 MI	FY20 EBITDA ex MI	1H20 EBITDA	1H20 MI	1H20 EBITDA ex MI	2H20 EBITDA	2H20 MI	2H20 EBITDA ex MI
Issuer Services	$260.5	$78.7	$181.8	$129.0	$44.4	$84.7	$131.4	$34.3	$97.1
Mortgage Services & Property Rental Services	$141.2	$53.1	$88.1	$82.1	$32.3	$49.8	$59.1	$20.8	$38.3
Employee Share Plans & Voucher Services	$65.7	$11.4	$54.4	$31.9	$6.4	$25.5	$33.8	$5.0	$28.9
Business Services	$88.2	$56.2	$31.9	$41.6	$32.9	$8.7	$46.6	$23.4	$23.2
Communication Services & Utilities	$30.8	-	$30.8	$14.0	-	$14.0	$16.9	-	$16.9
Corporate & Technology	$60.0	-	$60.0	$38.0	-	$38.0	$21.9	-	$22.0
Total Group	$646.4	$199.4	$447.0	$336.6	$116.0	$220.6	$309.7	$83.4	$226.3

	FY19 EBITDA	FY19 MI	FY19 EBITDA ex MI	1H19 EBITDA	1H19 MI	1H19 EBITDA ex MI	2H19 EBITDA	2H19 MI	2H19 EBITDA ex MI
Issuer Services	$313.6	$112.4	$201.2	$161.0	$61.1	$99.9	$152.6	$51.3	$101.3
Mortgage Services & Property Rental Services	$150.2	$58.2	$92.0	$66.8	$26.4	$40.5	$83.4	$31.8	$51.6
Employee Share Plans & Voucher Services	$80.3	$15.9	$64.4	$29.0	$7.1	$21.9	$51.3	$8.8	$42.5
Business Services	$92.6	$60.0	$32.6	$49.5	$30.7	$18.8	$43.2	$29.4	$13.8
Communication Services & Utilities	$37.9	-	$37.9	$13.9	-	$13.9	$24.0	-	$24.0
Corporate & Technology	$0.2	-	$0.2	$11.2	-	$11.2	-$10.9	-	-$10.9
Total Group	$674.9	$246.5	$428.4	$331.4	$125.2	$206.2	$343.4	$121.2	$222.2

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EBIT and Margin Income by business stream

	FY20 EBIT @ CC	FY20 MI @ CC	FY20 EBIT ex MI @ CC	FY19 EBIT @ CC	FY19 MI @ CC	FY19 EBIT ex MI @ CC	CC Variance
Issuer Services	$261.0	$79.3	$181.7	$310.6	$112.4	$198.2	-8.3%
Mortgage Services & Property Rental Services	$70.5	$53.9	$16.6	$102.5	$58.2	$44.4	-62.6%
Employee Share Plans & Voucher Services	$62.7	$11.6	$51.1	$77.8	$15.9	$61.9	-17.4%
Business Services	$88.2	$56.6	$31.6	$91.8	$60.0	$31.8	-0.6%
Communication Services & Utilities	$28.2	-	$28.2	$34.6	-	$34.6	-18.5%
Corporate & Technology	($10.5)	-	($10.5)	($27.2)	-	($27.2)	+61.4%
Total Group	$500.2	$201.4	$298.8	$590.1	$246.5	$343.6	-13.0%

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FY20 Management NPAT analysis

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450
400
20.1
45.0
381.4
350
65.0
300 0.4 10.0 3.1 305.0 1.2 303.8
250
200
150
100
50
0
31
USD million
Interest Tax FX
(ex MI)
FY19 NPAT Mgt EBITDA Margin Income Dep'n & Amort Non-controlling interest FY20 @ CC NPAT FY20 NPAT
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Management EPS – AUD Equivalent

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160 1
0.9139
140 0.8389
0.7521 0.7758 0.8
120 0.7273 0.7177
0.6716
100
0.6
97.87
80
83.56
81.69
75.74
71.31 72.35 0.4
60 65.92
40
0.2
20
0 0
FY14 FY15 FY16 FY17 FY18 FY19 FY20
AUD/USD average exchange rate
Cents per share
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Effective tax rate

Statutory and management (at actual FX rates)

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35%
29.6%
30%
28.3% 28.2%
26.5%
25%
20.9% 20.7%
20%
15%
10%
5%
0%
FY18 FY19 FY20
Statutory Management
Tax Rate %
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› The Group’s statutory effective tax rate has increased from 20.7% in FY19 to 28.2% in FY20
› The Group’s management effective tax rate has increased from 26.5% in FY19 to 29.6% in FY20. This is due to favourable benefit in FY19 related to settlement of legacy issue, versus current period profit mix with proportionately more profits arising in higher tax rate countries, an increase in US BEAT driven by reduced US taxable income and increased withholding tax expense.

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Dividend history and franking

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25.0
23 23 23
20.0 21 21
19 19
17 17
15.0 16 16
15 15
14
10.0
5.0
0.0
1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20
Dividend (AU cents)
Franking (%)
1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20
20% 20% 20% 25% 100% 20% 30% 0% 0% 100% 30% 30% 30% 30%
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Cash flow summary at actual FX rates Positive free cash flows, $505.9m, +61.7%

	FY20 Actual	FY19 Actual
Net operating receipts and payments Net interest and dividends Income taxes paid Net operating cash flowsexcludingSLS advances Cash outlay on business capital expenditure Net cash outlay on MSR purchases – Maintenance1	$688.1 $585.2 ($50.4) ($68.1) ($43.3) ($105.5)
	$594.4 $411.6 ($24.0) ($55.6) ($64.5) ($43.1)
Free cash flowexcluding SLS advances	$505.9	$312.9
SLS advance funding requirements2 Cash flow post SLS advance funding2 Investing cash flows Net cash outlay on MSR purchases – Investments1 Acquisitions (net of cash acquired) Disposal of Karvy Other Net operating and investing cash flows	($29.3) ($27.2)
	$476.6 $285.7 ($120.5) ($57.3) ($159.1) ($445.2) - $75.7 $4.2 ($17.4)
	($275.4) ($444.2)
	$201.2 ($158.5)

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

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35 2 Net operating and financing cash flows

Balance Sheet

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

	Jun-20	Jun-19	Variance
Current Assets	$1,432.0	$1,501.1	-4.6%
Non Current Assets	$3,557.8	$3,183.9	+11.7%
Total Assets	$4,989.7	$4,685.0	+6.5%
Current Liabilities	$1,024.6	$701.1	+46.1%
Non Current Liabilities	$2,374.8	$2,409.8	-1.5%
Total Liabilities	$3,399.4	$3,110.9	+9.3%
Total Equity	$1,590.3	$1,574.1	+1.0%

Net debt1	$1,244.9	$1,241.4	+0.3%
Net debt to EBITDA ratio1	1.93	1.84	+0.09 times
ROE2	19.5%	26.4%	-690bps
ROIC3	12.2%	14.8%	-260bps

› ROE 19.5%, -690 bps reflecting reduced earnings
› FY20 EBITDA includes IFRS16 benefit of $47.9m. Excluding IFRS16, the net debt to EBITDA ratio[1] as at June 2020 is 2.08x
1 Excluding non-recourse SLS Advance debt. Effective Dec 2019, net debt excludes lease liabilities ($7.7m as at Jun 19).

2 Return on equity (ROE) = rolling 12 month Mgt NPAT/rolling 12 mth avg Total Equity

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

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Key financial ratios

	Jun 20	Jun 19		Variance
	USD m	USD m	Dec	19 to Jun 19
Interest Bearing Liabilities including SLS advance debt	$2,029.8	$2,036.3		-0.3%
Less Cash	($597.3)	($561.3)		+6.4%
Net Debt including non-recourse SLS advance debt	$1,432.5	$1,475.0		-2.9%
Net debt excluding non-recourse SLS advance debt	$1,244.9	$1,241.4		+0.3%
Management EBITDA	$646.4	$674.9		-4.2%
Net Financial Indebtedness to EBITDA	2.22 times	2.19 times	Up 0.03 times
Net Financial Indebtedness to EBITDA1, 2	1.93 times	1.84 times	Up 0.09 times

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12.0 EBITDA Interest Coverage Net Financial Indebtedness to EBITDA
2.5
10.0 2.19x 2.22x
10.0x 10.1x
9.7x
2.0
8.0
1.52x 1.84x 1.93x
1.5
6.0
1.33x
4.0 1.0
2.0 0.5
0.0 0.0
FY18 FY19 FY20 FY18 FY19 FY20
Net debt (excl. non-recourse SLS Advance debt) to EBITDA ratio
Net debt to EBITDA ratio
Times Times
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1 excludes non-recourse SLS advance debt

37 2 Effective Dec 2019, Net debt excludes lease liabilities ($7.7m as at Jun 19). FY20 EBITDA includes IFRS16 benefit of $47.9m.

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Maturity Dates Debt Committed Bank Private SLS
USD million Drawn Debt Debt Placements Advance
Debt maturity profile
Facilities Facility Facility
800.0
FY21 Aug-20 50.6 125.0 125.0
Dec-20 121.0 225.0 225.0
Mar-21 100.0 100.0 100.0
700.0
Jun-21 6.6 75.0 75.0
318.5 FY22 Feb-22 220.0 220.0 220.0
FY23 Apr-23 424.8 450.0 450.0
FY24 Jul-23 50.0 50.0 50.0
600.0
Feb-24 220.0 220.0 220.0
Jun-24 181.5 500.0 500.0
FY26 Nov-25 200.0 200.0 200.0
500.0 FY29 Nov-28 350.0 350.0 350.0
25.2
TOTAL $1,924.5 $2,515.0 $1,100.0 $990.0 $425.0
400.0 50.0
300.0 181.5
100.0
424.8
200.0
350.0
220.0 220.0
100.0 200.0
178.2
0.0
FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29
USPP SLS non-recourse advance facilities drawn Syndicated debt drawn Bilateral Facilities drawn Undrawn syndicated & bilateral facilities
USD Million
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38 Note: Average debt facility maturity is 3.5 years as at 30-Jun-20

IFRS16/AASB 16 - Leases

Management EBITDA impact reflected in Corporate & Technology business stream

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FY20 @ CC IFRS16 @ FY20 FY19 Actual CC Variance FY20 @ IFRS16 @ FY20
CC excluding Actual rates Actual rates excluding
IFRS16 @ CC IFRS16 @
Actual rates
Management EBITDA $650.0 $48.4 $601.6 $674.9 -10.9% $646.4 $47.9 $598.4
Depreciation $78.9 -$42.3 $36.6 $37.5 -2.4% $77.5 -$41.9 $35.5
- -
Amortisation $70.9 $70.9 $47.3 +49.9% $70.8 $70.8
Interest expense $66.3 -$7.0 $59.3 $66.7 -11.2% $66.3 -$6.9 $59.4
Mgt Profit before Tax $433.9 -$0.9 $434.8 $523.4 -16.9% $431.7 -$0.9 $432.6
Mgt Income Tax $128.8 -$0.2 $129.0 $138.8 -7.1% $127.8 -$0.2 $128.0
Expense
Mgt Profit after Tax $305.0 -$0.7 $305.7 $381.4 -19.8% $303.8 -$0.7 $304.5
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› The IFRS16 impact to the Balance sheet is as follows: Change in net assets of ($10.5m) due to an increase in total assets of $240.9m offset by an increase in total liabilities of $251.4m at adoption date
› No net cashflow impact as cash flows are reallocated in the cash flow statement from operating activities to financing activities ($41m reallocation)
› FY20 EBITDA includes IFRS16 benefit of $47.9m. Excluding IFRS16, the net debt to EBITDA ratio as at June 2020 is 2.08x

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39 Refer to Appendix 4E, note 1 for more information

Capital expenditure versus depreciation at actual FX rates

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160 77.5 80.0
140 70.0
120 60.0
100 50.0
80 37.5 40.0
32.9
57.2
60 30.0
1.2
12.3
37.3
40 6.6 20.0
4.5 26.8
8.7
1.1
1.0 5.1
20 37.1 3.8 10.0
23.1
16.8
0 0.0
FY18 FY19 FY20
Information Technology Communication Services Facilities Occupancy Other Depreciation
Capex USD millions Depreciation USD millions
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40 FY20 includes IFRS16 impact to depreciation, $41.9m

Technology costs at actual FX rates

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400 14.0%
12.5%
350
11.4% 11.3% 12.0%
286.1
300
263.0 265.6 14.8 10.0%
10.0 10.0
250
55.9
8.0%
75.8 87.9
200
6.0%
116.3
150
103.6
95.4
4.0%
100
2.0%
50 99.2
73.7 72.3
0 0.0%
FY18 FY19 FY20
Development Infrastructure Maintenance Admin Technology costs as a % of revenue
USD millions
Technology costs as a % of revenue
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41 Technology costs include personnel, occupancy and other direct costs attributable to technology services

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

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

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

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

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

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FY20 Computershare at a glance

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Management revenue @ CC Management EBITDA @ CC
Canada ANZ Canada ANZ
8% 9% Asia 13% 4% [Asia] 7%
5%
UCIA
15%
$2,311.8m UCIA24% $650.0m CEU2%
USA
51%
CEU
USA
3%
59%
Communication Corporate & Technology
Services & Utilities Corporate & Technology0% Communication 9%
Services &
8%
Utilities
5%
Business
Services Issuer Services
Issuer Services
11% 39%
40%
Business
Services
Employee 14%
Share Plans & $2,311.8m $650.0m
Vouchers Mortgage Mortgage
13% Services & Employee Services &
Property Share Plans & Property
Rental Rental
Vouchers
Services Services
10%
29% 22%
By geography
By business stream
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High quality core industrial drives consistent operating performance EBITDA margin 28.3% including IFRS16 - above 10 year FY performance range; 25.2-30.5%[*]

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3,000
30%
2,500 2,357
2,301 2,281
25%
2,114
2,025 2,023
1,976 1,974
2,000
1,819 529 542 509 20%
1,619 465
506 454 474
567
1,500
15%
546
615
1,000
10%
Recurring revenues
500 -2.3%, 77.7% of 5%
Group total
1,004 1,273 1,458 1,517 1,522 1,500 1,649 1,772 1,815 1,772
0 0%
FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Recurring Non recurring EBITDA Margin
%
USD millions
Total Revenue EBITDA margin
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Based on 10 year FY average at actual FX rates. FY20 EBITDA ex MI includes IFRS16 benefit of $47.9m

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Global Register Maintenance and Employee Share Plans revenue

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Registry Maintenance @ CC Employee Share Plans @ CC
Margin Oth Rev
Holder/Broker Income 4%
paid 4%
27%
Issuer paid
67%
$673.3m $293.1m Fee
47%
Transaction
Margin 45%
income
6%
Oth Rev
Holder/Broker Margin 5%
paid Income
28% 6%
Issuer paid
66%
$700.8m $289.0m Fee
45%
Margin
Transaction
income
44%
6%
FY20 @ CC
FY19
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Financial snapshot – US Mortgage Services

FY20 revenue composition

Base servicing fees 54% Servicing related fees 11% Other service fees 35% $438.7m • Base servicing fees, $238.3m, +17.8% • Servicing related fees $46.9m, -0.3% • Other services fees $153.5m, +37.9%	Base servicing fees 54% Servicing related fees 11% Other service fees 35% $438.7m • Base servicing fees, $238.3m, +17.8% • Servicing related fees $46.9m, -0.3% • Other services fees $153.5m, +37.9%	Base servicing fees 54% Servicing related fees 11% Other service fees 35% $438.7m • Base servicing fees, $238.3m, +17.8% • Servicing related fees $46.9m, -0.3% • Other services fees $153.5m, +37.9%	Base servicing fees 54% Servicing related fees 11% Other service fees 35% $438.7m • Base servicing fees, $238.3m, +17.8% • Servicing related fees $46.9m, -0.3% • Other services fees $153.5m, +37.9%	Base servicing fees 54% Servicing related fees 11% Other service fees 35% $438.7m • Base servicing fees, $238.3m, +17.8% • Servicing related fees $46.9m, -0.3% • Other services fees $153.5m, +37.9%
	Jun-20	Jun-19	Annual Report reference
Net Loan Servicing Advances	$88.8	$59.5	• Note 16 Loan servicing advances • Note 14 Interest bearingliabilities	 Loan servicing advances  SLS non-recourse lendingfacility
Net MSR intangible asset	$458.2	$330.3	• Note 9 Intangible assets • Note 24 Mortgage servicingrelated liabilities	 Mortgage servicing rights  Mortgage servicingrelated liabilities
Investment in SPVs	$35.6	$38.6	• Note 13 Financial assets and liabilities at fair value through profit or loss	 Investment in structured entities
Other intangible assets1	$70.2	$73.7	• Note 9 Intangible assets	 Goodwill; Other
Total invested capital	$652.8	$502.2

Net cash payments for MSR purchases	$185.0	$100.4	• Cashflow statement	 Investing cash flow - Payments for intangible assets including MSRs
MSR amortisation	$64.5	$43.1	• Note 3 Expenses	 Total Amortisation(net)

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

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US and UK Mortgage Services – UPB and number of loans US Mortgage Services UPB up 16.4% ($118.5bn v $101.8bn)

Performing Non-performing At 30 Jun 20 At 30 Jun 19 At 30 Jun 20 At 30 Jun 19 U.S. $31.5bn 131K Loans $13.7bn 66K Loans $9.2bn 85K Loans $10.6bn 97K Loans Fully-Owned MSRs1 Excess strip deals $20.2bn 103K Loans Excess strip deals $24.3bn 113K Loans SPV deals $19.9bn 104K Loans SPV deals $19.2bn 95K Loans Part-Owned MSRs2 $27.8bn 163K Loans $21.7bn 129K Loans $10.0bn 110K Loans $12.3bn 119K Loans Subservicing3 $79.4bn $59.7bn $39.1bn $42.1bn Total US UPB £44.5bn 339k Loans £48.1bn 381K Loans £4.5bn 33K Loans £4.2bn 34K Loans Fee for Service3,4 U.K. Mortgage Servicing	Performing	Performing	Non-performing	Non-performing
	At 30 Jun 20	At 30 Jun 19	At 30 Jun 20	At 30 Jun 19

1 CPU owns the MSR outright

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

3 Servicing performed on a contractual basis

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

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Mortgage Services Revenue and EBITDA at actual FX rates

				1H18	2H18	1H19	2H19	1H20	2H20
	US Mortgage Services revenue			$143.4	$162.7	$159.4	$201.3	$227.3	$211.4
	UK Mortgage Services revenue			$122.1	$132.9	$128.0	$127.1	$101.6	$95.0
	Total Mortgage Services revenue			$265.4	$295.6	$287.4	$328.4	$328.9	$306.5

	Total Mortgage Services EBITDA			$56.0	$67.6	$59.2	$75.3	$75.6	$51.7
	EBITDA Margin %			21.1%	22.9%	20.6%	22.9%	23.0%	16.9%
			EBITDA Margin
		22.9%			22.9%		23.0%
21.1%			20.6%
									16.9%
1H18		2H18	1H19		2H19		1H20		2H20

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Mortgage services key terms

Performing servicing: Servicing of a mortgage which is less than 30 days delinquent. Typically loans that meet the criteria of the Government Sponsored Entities e.g. “Fannie Mae”, “Freddie Mac”.

Non-performing servicing: Servicing of a mortgage that is over 30 days delinquent up to management of the foreclosure process. Typically, non-performing servicing is performed over loans that are part of a securitization arrangement.

Mortgage servicing rights: Intangible assets representing an ownership right to service the mortgage for a fee for the life of the mortgage. The owner of the MSR can either service the loan itself or appoint a sub-servicer to do so.

Servicing advances: The owner of the MSR is required to fund various obligations required to protect a mortgage if the borrower is unable to do so. Advances receive a priority in any liquidation and are often financed in standalone non-recourse servicing advance facilities.

Part owned MSRs

› An Excess Strip Sale refers to the sale of a stream of cash flows associated with the servicing fee on a performing MSR. The seller of the servicing strip has the ability to service the mortgage.
› An SPV deal refers to the sale of the rights to the MSR and associated servicing advances into an SPV. CPU typically takes a 20% equity stake in the SPV and performs all servicing on the loans via a sub-servicing fee for service relationship.

US mortgage services – revenue definitions

Base fees – Fees received for base servicing activities

› Fees are generally assessed in bps for owned or structured deals, while subservicing is usually paid as a $ fee
› Subservicing fees vary by loan delinquency or category

Servicing related fees – Additional fees received from servicing a loan

› Loss mitigation fees e.g. for loan modifications › Ancillary Fees e.g. late fees
› Margin Income

Other service fees

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

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Business Services revenue

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FY20 @ CC FY19
India Funds
Class $17.0
Actions 6%
Corporate $101.2 Class
Trust 41% Corporate Actions
$92.1 Trust $121.1
38% $85.7 46%
32%
$244.9m $266.7m
Bankruptcy Bankruptcy
$51.6 $42.9
21% 16%
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FY20 Management revenue at actual FX rates

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600
493.2
500
438.7
400
300
226.4
200 175.6
144.8
99.7 102.6
100 79.9 74.6 84.6 81.8
56.5
44.7 32.6 33.8 38.7
12.3 8.8 18.8 14.2 6.7 7.8 2.6 1.4 0.1 0.1 0.1
0
Issuer Services Mortgage Services & Employee Share Plans & Business Services Communication Services & Corporate & Technology
Property Rental Services Voucher Services Utilities
ANZ Asia UCIA CEU USA Canada
USD millions
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FY20 Management revenue at actual FX rates
Issuer Services breakdown
400
361.0
350
300
250
200
150
100
79.0
69.6 68.1
54.0 56.2
43.8
50 36.2
27.9
18.3 19.2 12.4 16.2 14.3
1.5 6.6 0.8 0.1 6.3 1.0 2.2
0
Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other
ANZ Asia UCIA CEU USA Canada
USD millions
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Australia

Management revenue: AUD million

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FY18 FY19 FY20
305.2 294.5 279.7
160.0
142.8
138.4 136.8
140.0 134.5
131.7
121.8
120.0
100.0
80.0
60.0
40.0
19.4 20.1 19.5
20.0
4.5 5.9 3.8
-
Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology
FY18 FY19 FY20
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Australia – Issuer Services

Management revenue: AUD million

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FY18 FY19 FY20
138.4 136.8 134.5
120.0
110.0
106.3 105.8
100.0
80.0
60.0
40.0
27.0
25.3 25.3
20.0
0.7 1.4 2.2 2.5 2.1 1.2
-
Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other
FY18 FY19 FY20
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Hong Kong

Management revenue: HKD million

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FY18 FY19 FY20
716.3 742.5 848.5
700.0
600.2
600.0
535.2
521.2
500.0
400.0
300.0
248.4
221.0
200.0 181.0
100.0
0.1 0.2 -0.1
-
Issuer Services Employee Share Plans & Voucher Services Corporate & Technology
-100.0
FY18 FY19 FY20
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Hong Kong – Issuer Services

Management revenue: HKD million

FY18		FY19	FY20
535.2		521.2	600.2
- 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0
	Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other FY18 FY19 FY20

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India (including Issuer Services breakdown) Management revenue: INR million

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FY18 FY19 FY20
-
3,924.4 1,608.6
3,500.0 800.0
757.2
3,038.6
700.0
3,000.0
600.0
2,500.0
500.0
2,000.0
400.0 365.8
1,500.0
1,170.9 300.0
1,000.0 885.8
200.0
128.5
437.7
500.0
100.0 72.0
- -
Issuer Services Business Services Register Maintenance Corporate Actions
FY18 FY19 FY20 FY18 FY19 FY20
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USA

Management revenue: USD million

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FY18 FY19 FY20
1,087.9 1,137.2 1,175.5
600.0
539.4
531.3
496.2
500.0
438.7
400.0
360.7
306.1
300.0
200.0
143.7 144.8
136.4
100.0
65.1 60.3 57.0
38.4 40.1 38.7
2.6 0.9 0.1
-
Issuer Services Mortgage Services & Property Employee Share Plans & Business Services Communication Services & Corporate & Technology
Rental Services Voucher Services Utilities
FY18 FY19 FY20
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USA – Issuer Services

Management revenue: USD million

FY18		FY19	FY20
539.4		531.3	496.2
- 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0
	Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other FY18 FY19 FY20

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Canada

Management revenue: CAD million

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FY18 FY19 FY20
272.8 258.7 249.0
160.0
140.0 134.6
120.0 116.0 113.3
106.2
101.6 99.8
100.0
80.0
60.0
40.0
26.8 27.2 25.3
20.0
9.3 9.1 10.4
0.6 0.2 0.1
-
Issuer Services Employee Share Plans & Voucher Business Services Communication Services & Utilities Corporate & Technology
Services
FY18 FY19 FY20
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Canada – Issuer Services

Management revenue: CAD million

FY18		FY19	FY20
101.6		106.2	99.8
- 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0
	Register Maintenance Corporate Actions Issuer Services - Other FY18 FY19 FY20

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UK, Channel Islands & Equatex Management revenue: GBP million

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FY18 FY19 FY20
335.0 423.1 386.8 Mortgage
Services Plans including
FY18: 189.3m Equatex
250.0 FY19: 196.9m FY18: 55.0m
FY20: 156.0m FY19: 107.5m
220.2 FY20: 125.8m
206.6
Vouchers
200.0 FY18: 15.5m
179.6 FY19: 14.5m
FY20: 11.5m
150.0
137.3
122.0
100.0
70.4
58.6
51.8 52.3
50.0
14.2 11.3
0.8 4.7 5.0 5.3 0.5 3.1 1.1
0.0
Issuer Services Mortgage Services & Property Employee Share Plans & Business Services Communication Services & Corporate & Technology
Rental Services Voucher Services Utilities
FY18 FY19 FY20
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UK and Channel Islands – Issuer Services

Management revenue: GBP million

FY18		FY19	FY20
51.8		58.6	52.3
- 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0
	Register Maintenance Corporate Actions Stakeholder Relationshop Management FY18 FY19 FY20

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4.7 4.9 4.6
Issuer Services - Other
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South Africa

Management revenue: RAND million

FY18		FY19	FY20	0.9 0.5
272.9		282.0	267.7
- 50.0 100.0 150.0 200.0 250.0 300.0
	Issuer Services Employee Share Plans & Voucher Services FY18 FY19 FY20			Corporate & Technology

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South Africa – Issuer Services

Management revenue: RAND million

FY18		FY19	FY20
255.3		267.0	262.8
- 50.0 100.0 150.0 200.0 250.0
	Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other FY18 FY19 FY20

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Germany

Management revenue: EUR million

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FY18 FY19 FY20
42.8 46.0 45.5
35.0
30.6
30.0
26.0
25.0 23.9
20.0
15.9
14.8
15.0
13.3
10.0
5.0 4.0 3.9
1.6
0.1 0.1 0.1
-
Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology
FY18 FY19 FY20
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Germany – Issuer Services Management revenue: EUR million

FY18		FY19	FY20
14.8		15.9	13.3
- 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0
	Register Maintenance Issuer Services - Other FY18 FY19 FY20

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Breakdown of average client balances for FY20

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USD 17.2bn
Total balances
USD 11.4bn USD 5.8bn
Exposed balances Non-exposed balances
USD 7.9bn
Non-hedged balances
USD 6.0bn USD 1.9bn
USD 0.4bn
Non-hedged Natural hedge
Fixed Rate Swaps
balances floating rate debt
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USD 3.5bn
Hedged balances
USD 3.1bn USD 0.4bn
Fixed Rate Deposits Fixed Rate Swaps
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Lagged impact from rate changes

Immediate impact from rate changes

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Exposed and non-exposed FY20 and FY19 average balances by business

Business Activity	FY20 Balances (USD billions)	FY20 Balances (USD billions)	Margin Income (USD millions)	Business Activity	FY19 Balances (USD billions)	FY19 Balances (USD billions)	Margin income (USD millions)
	Exposed	Non-exposed			Exposed	Non-exposed
Register Maintenance	2.2	0.7	37.9	Register Maintenance	2.4	0.4	42.6
Corporate Actions	1.6	1.8	40.7	Corporate Actions	3.0	2.4	69.8
Issuer Services	3.8	2.5	78.7	Issuer Services	5.4	2.8	112.4
Employee Share Plans & Vouchers	1.3	0.2	11.4	Employee Share Plans & Vouchers	1.5	0.2	15.9
Business Services	2.4	3.2	56.2	Business Services	2.0	3.4	60.0
Mortgage Services & Property Rental Services	3.8	0.0	53.1	Mortgage Services & Property Rental Services	3.2	0.0	58.2
Totals	11.4bn	5.8bn	199.4m	Totals	12.1bn	6.4bn	246.5m
	17.2bn				18.5bn
Margin Income	$176.3m	$23.1m		Margin Income	$210.7m	$35.7m
Average annualised yield	1.55%	0.40%		Average annualised yield	1.74%	0.55%

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Translated at actual FX rates

Breakdown of FY20 average exposed balances by currency USD exposed balances continue to be the largest component

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Average exposed balances prior to hedging
Other
AUD
4%
3%
CAD
15%
USD 11.4bn
USD (USD 17.2bn x 66%)
48%
GBP
30%
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Average exposed balances hedged
CAD
16%
USD
44% USD 3.5bn
(USD 11.4bn x 30%)
GBP
40%
Average exposed balances un-hedged
AUD
Other
4%
6%
CAD
14%
USD 7.9bn
(USD 11.4bn x 70%)
USD GBP
50% 26%
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70 Average balances during FY20

Profile of our swap and fixed rate deposit book Fixed rate levels reduced via derivate close-out and option structured deposits

			As at	30	June	2020	2020
USD million	0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000								Fixed rate			deposits	Swaps
		Jul-20				Jul-21		Jul-22			Jul-23		Jul-24
			As at	31	December		2019
USD million	0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000								Fixed	rate deposits				Swaps
		Jan-20				Jan-21		Jan-22			Jan-23		Jan-24
	71

Profile of floating rate deposits Option structured deposits impacted by curve shifts in 2H20

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As at 30 June 2020
5,000
4,000
3,000
2,000
1,000
0
Jul-20 Jul-21 Jul-22 Jul-23 Jul-24
As at 31 December 2019
5,000
4,000
3,000
2,000
1,000
0
Jan-20 Jan-21 Jan-22 Jan-23 Jan-24
72
USD million
USD million
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Exchange rates

Currency	FY20	1H20	FY19	1H19	FY18	1H18
USD	1.0000	1.0000	1.0000	1.0000	1.0000	1.0000
AUD	1.4889	1.4623	1.3933	1.3734	1.2890	1.2863
HKD	7.7999	7.8321	7.8405	7.8371	7.8219	7.8095
NZD	1.5683	1.5504	1.4874	1.4893	1.3977	1.3969
INR	71.9578	70.4405	70.4260	70.6855	64.9732	64.6323
CAD	1.3391	1.3203	1.3252	1.3117	1.2716	1.2709
GBP	0.7931	0.7993	0.7716	0.7707	0.7427	0.7588
EUR	0.9030	0.8999	0.8746	0.8645	0.8396	0.8533
RAND	15.5385	14.7507	14.1190	14.0136	12.7589	13.3921
RUB	66.6767	64.2928	65.5333	65.1752	58.7412	58.7208
AED	3.6729	3.6729	3.6729	3.6729	3.6728	3.6729
DKK	6.7424	6.7192	6.5256	6.4466	6.2495	6.3485
SEK	9.6389	9.6044	9.1332	8.9924	8.3012	8.2364
CHF	0.9782	0.9888	0.9937	0.9870	0.9689	0.9734

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FY20

PREVIOUS BUSINESS STREAM REPORTING

Explaining the new business streams

› Issuer Services

Register Maintenance, Corporate Actions and Stakeholder Relationship Management now form Issuer Services. We have also added our Corporate Governance software products business that provides entity management and board portals solutions, this was previously in Corporate, Technology and Other

› Mortgage Services

Mortgage Services is now a stand alone business stream. It includes US and UK Mortgage Services and our Property Rental Service business including the Deposit Protection Scheme

› Business Services

Will now be made up of Bankruptcy, Class Actions, Corporate Trust (including Bonds previously classified as Register Maintenance) and for historical purposes Karvy Funds (disposed in FY19)

› Employee Share Plans

Voucher Services, previously in Business Services, is now in Employee Share Plans

› Communication Services

Will now include Utilities (previously Business Services)

› Corporate and Technology

Corporate and Technology includes shared service functions including Risk, Internal Audit, Global Information Security and Corporate. Other includes income previously classified as Tech & Other and expenses associated with performance incentives

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Management revenue by business stream

Business stream		FY20 @ CC	FY19 Actual	CC Variance		FY20 Actual
Business Services		$926.6 $927.4 -0.1% $918.1
Register Maintenance		$696.9 $711.2 -2.0% $687.3 $142.4 $164.3 -13.3% $140.5 $292.5 $288.5 +1.4% $289.5 $167.6 $168.9 -0.8% $161.1 $59.2 $67.3 -12.0% $58.7 $26.6 $28.9 -8.0% $26.0 $2,311.8 $2,356.5 -1.9% $2,281.2
Corporate Actions
Employee Share Plans
Communication Services
Stakeholder Relationship Mgt
Corporate & Technology
Total Management Revenue

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EBITDA and margins by business stream

	FY20 @ CC	FY19 Actual	CC Variance	FY20 EBITDA	FY19 Actual
Business Stream				Margin in CC %	EBITDA Margin
					%
Business Services Register Maintenance & Corporate Actions Employee Share Plans Communication Services Stakeholder Relationship Mgt Corporate & Technology Total Management EBITDA	$240.6 $273.4 $58.7 $33.7 $3.6 $40.0 $650.0	$249.7 $315.0 $69.2 $39.9 $10.6 ($9.5) $674.9	-3.6% -13.2% -15.2% -15.5% -66.0% n/a -3.7%	26.0% 32.6% 20.1% 20.1% 6.1% n/a 28.1%	26.9% 36.0% 24.0% 23.6% 15.7% n/a 28.6%
Total Management EBITDA ex MI	$448.6	$428.4	+4.7%	21.3%	20.3%

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EBITDA and Margin Income by business stream

Business Stream	FY20 EBITDA @ CC	FY20 MI @ CC	FY20 EBITDA ex MI @ CC	FY19 EBITDA	FY19 MI	FY19 EBITDA ex MI	CC Variance
Business Services	$240.6 $106.8 $133.8 $249.7 $114.4 $135.3 -1.1%
Register Maintenance & Corporate Actions	$273.4 $83.1 $190.3 $315.0 $116.3 $198.7 -4.2%
Employee Share Plans	$58.7 $11.5 $47.2 $69.2 $15.7 $53.5 -11.7%
Communication Services	$33.7 $0.0 $33.7 $39.9 $0.0 $39.9 -15.5%
Stakeholder Relationship Mgt	$3.6 $0.0 $3.6 $10.6 $0.0 $10.6 -66.0%
Corporate & Technology	$40.0 $0.0 $40.0 ($9.5) $0.0 ($9.5) n/a
Total Group	$650.0 $201.4 $448.6 $674.9 $246.5 $428.4 4.7%

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Summary

Summary	Summary	Summary

Previous Business Stream Reporting	FY20 Revenue @ CC	FY20 EBITDA @ CC	FY20 Revenue	FY20 EBITDA	New Business Stream Reporting	FY20 Revenue @ CC	FY20 EBITDA @ CC	FY20 Revenue	FY20 EBITDA
Register Maintenance	696.9	273.4	687.3	271.1
Corporate Actions	142.4		140.5
Stakeholder Relationship Management	59.2	3.6	58.7	3.2
Total	898.5	277.0	886.5	274.4	Issuer Services	907.2	263.0	894.7	260.5

Employee Share Plans	292.5	58.7	289.50	56.9
Vouchers
Employee Share Plans & Voucher Services					Employee Share Plans & Voucher Services	308.0	66.3	304.6	65.7

Business Services	926.6	240.6	918.1	233.9	Business Services	244.9	89.1	243.6	88.2
					Mortgage Services & Property Rental Services	671.5	141.4	665.1	141.2
Communication Services	167.6	33.7	161.1	32.3	Communication Services & Utilities	175.8	31.7	168.8	30.8
Corporate & Technology	26.6	40.0	26.0	48.9	Corporate & Technology	4.5	58.4	4.2	60.0
Total Group	2,311.8	650.0	2,281.2	646.4	Total Group	2,311.8	650.0	2,281.2	646.4

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Issuer Services

USD M	FY20 @ CC Revenue	FY20 @ CC EBITDA	FY20 Revenue	FY20 EBITDA
Register Maintenance	696.9	273.4	687.3	271.1
Corporate Actions	142.4		140.5
Stakeholder Relationship Management	59.2	3.6	58.7	3.2
Total (per previous reporting)	898.5	277.0	886.5	274.3
Inclusions
Add Governance Services	16.5	-4.1	16.3	-4.1
Add Other	3.2	-3.6	3.0	-3.4
Removals
Less Bonds/Successor Trustee and Escrow	-11.0	-6.3	-11.0	-6.3
Issuer Services	907.2	263.0	894.7	260.5

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Business Services

USD M	FY20 @ CC Revenue	FY20 @ CC EBITDA	FY20 Revenue	FY20 EBITDA
Business Services (per previous reporting)	926.6	240.6	918.1	233.9
Inclusions
Add Bonds/Successor Trustee and Escrow	11.0	6.3	11.0	6.3
Add Other	0.9	-6.0	0.9	-0.7
Removals
Less Mortgage Services	-640.3	-128.2	-634.8	-128.3
Less Property Rental Services	-30.6	-14.3	-29.8	-13.9
Less Vouchers	-14.9	-10.2	-14.5	-9.9
Less Utilities	-7.8	0.9	-7.3	0.9
Business Services	244.9	89.1	243.6	88.2

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Employee Share Plans & Voucher Services

USD M	FY20 @ CC Revenue	FY20 @ CC EBITDA	FY20 Revenue	FY20 EBITDA
Employee Share Plans (per previous reporting)	292.5	58.7	289.5	56.9
Inclusions
Add Vouchers	14.9	10.2	14.5	9.9
Add Other	0.6	-2.6	0.6	-1.1
Employee Share Plans & Voucher Services	308.0	66.3	304.6	65.7

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Communication Services & Utilities

USD M	FY20 @ CC Revenue	FY20 @ CC EBITDA	FY20 Revenue	FY20 EBITDA
Communication Services (per previous reporting)	167.6	33.7	161.1	32.3
Inclusions
Add Utilities	7.8	-0.9	7.3	-0.9
Add Other	0.4	-1.1	0.4	-0.6
Communication Services & Utilities	175.8	31.7	168.8	30.8

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Mortgage Services & Property Rental Services

USD M	FY20 @ CC Revenue	FY20 @ CC EBITDA	FY20 Revenue	FY20 EBITDA
Mortgage Services (per previous reporting)	640.3	128.2	634.8	128.3
Inclusions
Add Property Rental Services	30.6	14.3	29.8	13.9
Add Other	0.6	-1.1	0.6	-1.1
Mortgage Services & Property Rental Services	671.5	141.4	665.1	141.2

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Corporate & Technology

USD M	FY20 @ CC Revenue	FY20 @ CC EBITDA	FY20 Revenue	FY20 EBITDA
Corporate & Technology (per previous reporting)	26.6	40.0	26.0	48.9
Removals
Less Governance Services	-16.5	4.1	-16.3	4.1
Less Other Issuer Services	-3.2	3.6	-3.0	3.4
Less Other Business Services	-0.9	6.0	-0.9	0.7
Less Other Employee Share Plans & Voucher Services	-0.6	2.6	-0.6	1.1
Less Other Communication Services & Utilities	-0.4	1.1	-0.4	0.6
Less Other Mortgage Services & Property Rental Services	-0.6	1.1	-0.6	1.1
Corporate & Technology	4.5	58.4	4.2	60.0

Computershare allocates out all corporate expenses to our business lines. The residual Corporate and Technology revenues reflect some third party technology revenues, rental income, interest income and other corporate related transaction income. The movement in EBITDA between 1H and 2H reflects movement in provisions.

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FY20 Management revenue at actual FX rates

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700
600
500
400
300
200
100
0
Register Maintenance Corporate Actions Business Services Stakeholder Employee Share Plans Communication Corporate &
Relationship Mgt Services Technology
ANZ Asia UCIA CEU USA Canada
573.4
382.8
254.4
158.3
78.5 72.0 74.3 83.0 74.3
54.1 56.7 56.5
43.1 39.2 32.6 33.8 38.7
19.0 19.2 12.1 0.0 15.9 7.3 0.0 0.0 1.5 3.6 7.9 6.4 0.0 12.3 11.4 18.5 0.0 6.7 7.7 3.7 0.0 6.4 1.8 10.1 4.0
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Australia

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Management revenue: AUD million
FY18 FY19 FY20
305.2 294.5 279.7
140.0
130.5
119.6
120.0
110.3 110.6
107.5 106.1
100.0
80.0
60.0
40.0
25.3 27.0 25.3
19.3 20.0 19.4
20.0
12.3 12.1 10.9
6.9 7.0 5.2
0.7 1.3 2.2
0.0
Register Maintenance Corporate Business Stakeholder Employee Share Plans Communication Corporate &
Actions Services Relationship Mgt Services Technology
FY18 FY19 FY20
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Hon Kon g g

HongKong	HongKong	HongKong	HongKong
Management revenue:HKD million
FY18		FY19 FY20
716.3		742.5	848.5
00 50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0	406.5 410.8 421.9

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248.4
221.0
181.0
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149.7
104.9
84.2
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50.0 0.0

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23.9 26.5 28.5
Register Maintenance Corporate Stakeholder Relationship Mgt Employee Share Plans
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Corporate Actions

FY18 FY19 FY20

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India

India	India	India	India
Management revenue:INR million
FY18		FY19 FY20
3,924.4		1,608.6	-
0.0 500.0 1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0
	Register Maintenance Corporate Actions Business Services FY18 FY19 FY20

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USA

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Management revenue: USD million
FY18 FY19 FY20
Mortgage
Services
1,087.9 1,137.2 1,175.5 FY18: 306.1m
FY19: 361.2m
FY20: 438.9m
700.0
600.0 573.4
494.9
500.0
434.4
400.0 382.2 382.8
363.1
300.0
200.0
98.0 99.5
100.0 74.3 76.8 49.1 39.2 65.1 60.3 56.5 38.4 40.1 38.7
12.2 11.1 10.6
0.0
Register Maintenance Corporate Business Stakeholder Employee Share Plans Communication Corporate &
Actions Services Relationship Mgt Services Technology
FY18 FY19 FY20
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Canada

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Management revenue: CAD million
FY18 FY19 FY20
272.8 258.7 249.0
140.0 133.2
120.0 114.5
111.2
100.0
79.4 78.3
80.0 75.9
60.0
40.0
25.7 26.7 27.0 24.8
20.0 21.3
20.0
9.2 9.0 10.3
4.4 4.2 5.6
0.0
Register Maintenance Corporate Business Employee Share Plans Communication Services Corporate & Technology
Actions Services
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FY18 FY19 FY20

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UK , Channel Islands & Equatex

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Management revenue: GBP million
FY18 FY19 FY20 Mortgage
Services
FY18: 188.7m
335.0 420.6 386.8 FY19: 195.7m
FY20: 155.4m
300.0
247.6
250.0
222.3
201.8
200.0
150.0
125.5
107.3
100.0
55.0
50.0 41.2 43.2 39.7
3.3 7.7 4.6 4.9 5.0 5.3 4.7 5.0 5.3 3.5 4.7 4.6
0.0
Register Maintenance Corporate Business Stakeholder Employee Share Plans Communication Corporate &
Actions Services Relationship Mgt Services Technology
FY18 FY19 FY20
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South Africa

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Management revenue: RAND million
FY18 FY19 FY20
272.9 282.0 267.7
300.0
250.0 241.7
228.8
209.4
200.0
150.0
100.0
53.9
50.0
26.1 25.3
16.7 14.5
1.3 0.5 0.0 4.4
0.0
Register Maintenance Corporate Stakeholder Relationship Mgt Employee Share Plans
Actions
FY18 FY19 FY20
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German y

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Management revenue: EUR million
FY18 FY19 FY20
42.8 46.0 45.5
35.0
30.5
30.0
26.0
25.0 23.9
20.0
15.5
14.3
15.0
12.7
10.0
5.0 4.0 3.9
1.6
0.0
Register Maintenance Employee Share Plans Communication Services
FY18 FY19 FY20
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0.6 0.6 0.7
Corporate & Technology
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Important notice

Summary information

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

Financial data

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

Past performance

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

Future performance and forward-looking statements

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

Disclaimer

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

Not intended for foreign recipients

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

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AI assistant

COMPUTERSHARE LIMITED. — Investor Presentation 2020

64696_rns_2020-08-10_ccbb7854-bbb6-4323-ba58-c367255f4776.pdf

FY20 Results

FY20 Management EPS

Business tracking to FY20 plan, COVID-19 disruption, delivered on revised guidance

Pandemic response

FY20 key priorities – execution scorecard Delivering on strategic plans

FY21 Outlook

Management EPS guidance of around 50.0 cps

Guidance

FY21 Headwinds

Key Assumptions

FY21 Tailwinds

FY21 Management EPS bridge

Positive earnings trajectory with improving margins

FY20 Management Results summary

Margin Income

Margin Income decreased to $199.4m, -19.1% with $17.2bn average balances

Issuer Services

Resilient Register Maintenance with lower event-based revenues

Employee Share Plans

Equatex continues to deliver, upgrade to new platform underway

Key priorities

Total outstanding shares & options under administration

Mortgage Services

US asset servicing strategy on track, UK loan migration complete

Key priorities

Growth in sub-servicing

Business Services

Activity growing in countercyclical revenue

Key priorities

Debt under administration

Operating cost analysis

Cost in line with expectations – flat, excluding IFRS16, acquisitions and disposals

Cost out programs Upgraded long term cost savings

Cash flow and balance sheet

Strong cashflow funds growth and shareholder returns

Medium term operating guidance Earnings trajectory recovering with improving margins

Conclusions

APPENDICES

Statutory results

Management adjustment items Appendix 4E note 3

Amortisation

Acquisitions and disposals

Other

Management revenue bridge

Management revenue by business stream

Revenues down 1.9%, +1.1% adjusting for Margin Income and Karvy

Revenue and EBITDA by business stream at actual FX rates

Management revenue and EBITDA at actual FX rates

EBITDA and margins by business stream EBITDA $650.0m, -3.7% includes IFRS16 benefit

Management EBITDA excluding the impact of Margin Income and FX movements increased by 5.1% in FY20 versus pcp

EBITDA and Margin Income by business stream EBITDA ex Margin Income $448.5m

Management EBITDA ex Margin Income by business stream FY20 and FY19 at actual FX rates

EBIT and Margin Income by business stream

FY20 Management NPAT analysis

Management EPS – AUD Equivalent

Effective tax rate

Statutory and management (at actual FX rates)

Dividend history and franking

Cash flow summary at actual FX rates Positive free cash flows, $505.9m, +61.7%

Balance Sheet

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

Key financial ratios

IFRS16/AASB 16 - Leases

Management EBITDA impact reflected in Corporate & Technology business stream

Capital expenditure versus depreciation at actual FX rates

Technology costs at actual FX rates

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

FY20 Computershare at a glance

Global Register Maintenance and Employee Share Plans revenue

Financial snapshot – US Mortgage Services

FY20 revenue composition

US and UK Mortgage Services – UPB and number of loans US Mortgage Services UPB up 16.4% ($118.5bn v $101.8bn)

Mortgage Services Revenue and EBITDA at actual FX rates

Mortgage services key terms

Part owned MSRs

US mortgage services – revenue definitions

Base fees – Fees received for base servicing activities

COMPUTERSHARE LIMITED. Investor Presentation 2020