COMPUTERSHARE LIMITED. — Investor Presentation 2008

Jun 24, 2008

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Computershare Limited

MARKET ANNOUNCEMENT

ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia PO Box 103 Abbotsford Victoria 3067 Australia Telephone 61 3 9415 5000 Facsimile 61 3 9473 2500 www.computershare.com

Date:	Wednesday, 25thJune 2008
To:	Australian Securities Exchange
Subject:	Presentation for UBS Conference

Attached is the presentation delivered to the UBS Australian Financial Services Conference today, 25[th] June 2008.

For Investor Relations contact:

Mr Darren Murphy Head of Treasury and Investor Relations Computershare Limited Ph +61-3-9415-5102 Mobile 0418 392 687 darren.murphy@computershare.com.au

About Computershare Limited

Computershare Limited ( ASX: CPU ) is a global leader in share registration, employee equity plans, proxy solicitation and other specialised financial, governance and communication services.

Many of the world’s largest companies employ our innovative solutions to maximise the value of their relationships with investors, employees, customers and members.

Computershare Limited has approximately 10,000 employees across the world and serves 14,000 corporations and 100 million shareholder and employee accounts in 17 countries across five continents.

For more information, visit www.computershare.com

Stuart Crosby CEO & President UBS Conference 25 June 2008

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Who is Computershare?
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› Computershare (ASX:CPU) is a global leader in share registration, employee equity plans, proxy solicitation and other specialised financial, governance and communication services

• › We serve 14,000 corporations and 100 million shareholder and employee accounts in 17 countries across five continents

• › Over 10,000 employees globally

• › Market capitalisation of approximately $5 billion, ranking in top 100 Australian listed companies

• › Number 1 or 2 player in all registry markets in which we operate

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Our key business lines
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› Shareholder administration (registry)

› Employee equity incentive scheme administration › Communications (was print and mail but now multi-channel) › Proxy solicitation and corporate governance consulting › Corporate trust services › Fund administration

› Recently added business lines

› Wireless audience interaction services (IML)

› Entity management (CGS) › Class action administration (Administar)

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Where we operate
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4

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Strategic overview
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› Unique end-to-end solution for issuers and their stakeholders › Only global provider

› Significant intellectual property › Economies of scale

› Market leadership in almost all regions that we operate in

› Diverse product line and geographic customer base

› Long term client relationships

› Experienced management team

› Focused and successful acquisition strategy and execution

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Our strengths
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› More than 70% of revenue recurring in nature

› Global diversification – across 17 countries including growth engines in China, India and Russia

› Proven technology capabilities and innovation

› Demonstrated ability to acquire and integrate businesses › Strong and sustained earnings and cash flow growth

› Unique cross-border transaction capacities

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Historical financials
Revenue
$USD millions
$1,404.2
$1,198.3
$811.9
$599.8
$463.6
$428.0
$367.6
$235.2
$196.3
$91.2
$9.2 $9.4 $11.5 $16.3
'9 4 '9 5 '9 6 '9 7 '9 8 '9 9 '0 0 '0 1 '0 2 '0 3 '0 4 '0 5 '0 6 '0 7
Financial Y ear
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Historical financials
EBITDA
$USD millions
$370.5
$240.1
$161.8
$126.3
$89.4
$83.4
$76.9
$54.7
$37.5
$19.4
$5.3 $6.0 $6.4 $8.0
'94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07
Financial Year
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Historical financials
EPS & dividend history (USD cents)
40
35
30
25
US$ cents 20
15
10
5
0
'95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07
Financial Year
EPS Dividend
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Results highlights – 1H08
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› Management EPS of 27.36 cents - up 53% › Management net profit after OEI of $155.8m - up 46% › Free cash flows of $187.4m - up 44%

› Total operating revenues of $788.2m - up 14%

› Operating costs of $532.4m - up 5%

› Interim dividend of 10 cents (AUD) per share - up 25%

› Return to dividend franking - 20% franked › Guidance of around 40% management EPS growth Note: all results are in USD except for dividend; all comparisons with 1H07

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Management EBITDA margin
32.7%
27.2%
22.4%
25.1%
20.4%
18.5%
17.0%
1H05 2H05 1H06 2H06 1H07 2H07 1H08
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Cash flows
Free Cash Flow 4 year CAGR 71%
$US Millions $295.3
$158.6
$86.2
$81.5
$34.3
FY03 FY04 FY05 FY06 FY07
Free Cash Flows
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Return on equity
AGAAP AIFRS
37.80%
26.40%
19.40%
13.30%
15.10%
6.90%
FY03 FY04 FY05 FY06 FY07 1H08
Return on equity
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Key balance sheet ratios
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EBITDA interest coverage
times
14
12.1 11.9 12.2
12
10 8.7
8
6
4
2
0
FY05 FY06 FY07 1H08
Gearing (Net Debt / Net Debt +
Equity)
%
48%
50%
41%
40% 37%
29%
30%
20%
10%
0%
FY05 FY06 FY07 1H08
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Net Financial Indebtedness to EBITDA
times
3.0
2.48
2.5
2.0
1.68
1.46
1.5
0.94
1.0
0.5
0.0
FY05 FY06 FY07 1H08
Funds Flow to Total Debt
%
80% 76%
60% 53%
43%
40%
27%
20%
0%
FY05 FY06 FY07 1H08
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Turbulence – Computershare’s friend or foe?
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› Turbulent markets (down or up) are better for Computershare than markets that are becalmed.

› Despite the analyst fetish with reported M&A stats, the current turbulent times are driving good corporate action revenues – we’re working on capital raisings rather than on takeovers.

› Falls in interest rates in some markets is a negative, but (a) we have reasonable hedge cover (both natural and synthetic) and (b) size of balances is just as important a driver of margin revenues as interest rate levels.

› In any case, geographic and business diversification provides a portfolio effect protection when particular markets and product lines suffer.

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Our strategic focus
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› Continue to drive operations quality and efficiency through measurement, benchmarking and technology

• › Improve front office skills to protect and drive revenue

› Continue to seek acquisition and other growth opportunities where we can add value and enhance returns for our shareholders

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