COMPUTERSHARE LIMITED. — AGM Information 2009

Nov 10, 2009

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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:	11thNovember 2009
To:	Australian Securities Exchange
Subject:	Computershare Limited Annual General Meeting

Attached is the Chairman’s address and CEO’s presentation being delivered to the Annual General Meeting at 10.00am today, 11[th] November 2009.

For further information contact:

Mr Darren Murphy Head of Treasury and Investor Relations Ph +61-3-9415-5102 darren.murphy@computershare.com.au

About Computershare Limited (CPU)

Computershare (ASX:CPU) is a global market leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications. We also specialise in corporate trust services, tax voucher solutions, bankruptcy administration and a range of other diversified financial and governance services.

Founded in 1978, Computershare is renowned for its expertise in data management, high volume transaction processing, payments and stakeholder engagement. Many of the world’s leading organisations use these core competencies to help maximise the value of relationships with their investors, employees, creditors, members and customers.

Computershare is represented in all major financial markets and has over 10,000 employees worldwide.

For more information, visit www.computershare.com

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Annual General Meeting of Computershare Limited 11 November 2009

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Annual General Meeting Chris Morris E xecu ti ve Ch a rman i Introduction

11 November 2009

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Financial Performance Indicators
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• management adjusted results

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1. Annual General Meeting of Computershare Limited.

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CPU share price performance
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–
ASX50 versus CPU
$12.00
$11.00
CPU: +20.6%
$10.00
$9.00
ASX 50: -7 3%.
$8.00
$7.00
$6.00
$ 5.00
Computershare entered the ASX50 in September 2009
Jul-08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09
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CPU share price performance
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–
ASX200 versus CPU
$12.00
$11.00
CPU: +57.9%
$10.00
$9.00
$ 8.00
$7.00 ASX 200: +2%
ASX 200
$6.00 Industrials: -9.1%
$5.00
$4.00
$3.00
Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jul-08 Oct-08 Jan-09 Apr-09 Jul-09 Oct-09
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1. Annual General Meeting of Computershare Limited.

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CORPORATE RESPONSIBILITY
‘ ’
Change a Life
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	CORPORATE RESPONSIBILITY ‘Change a Life’	CORPORATE RESPONSIBILITY ‘Change a Life’
		Project spend to date:
		Ethiopian Eye Clinic - Ethiopia 95,000 Phongsaly Health and Livehood - Laos 298,958 '
		Highland Childrens Education Project Cambodia 250 000 - , Chad Farmer Regeneration Project - Chad 572,271 Sunrise Children's Village- Cambodia 590,173
		Victims of Crime - South Africa 827,840 Cash at Bank 1,600,000
		Total Raised 4,234,242

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CORPORATE RESPONSIBILITY
‘ ’
Change a Life
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Sunrise Children’s Village Update

Main project at present is supporting the b u ildi ng o f thi r d orp h anage

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African Cycle Event September 2009

Five day cycle for the Mike Thomson Change a Life Trust

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1. Annual General Meeting of Computershare Limited.

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Annual General Meeting Stuart Crosby Chief Executive Officer

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11 November 2009

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2009 IN REVIEW
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› Total operating revenues – down 4% to $1,511.6 million › Management EBITDA – down 1% to $475.5 million › Operating cash flows – down marginally at $341.5 million

› Management net profit after OEI – flat at $289.5 million › Management EPS – up marginally at 52.11 cents

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2009 IN REVIEW
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• › Total revenues - operating

• down 4% to $1,511.6 million

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› Operating costs - down 6% to $1,035.9 million

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› EBITDA - Management margin maintained over 30%

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• Management adjusted

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2009 IN REVIEW
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› Interim dividend – 11 cents 40% franked › Final dividend – 11 cents 50% franked

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2009 IN REVIEW
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› A flat result is a great outcome in the toughest market for decades (globally, if not in Australia)

› actions revenues held well on Corporate up (increasing slightly FY 09)

› cost close the revenue Strong management helped gap:

› Continued delivery of process efficiencies, mostly from technology

› Dynamic workforce management delivered savings as volumes decreased

› “Never waste a crisis” – restructures, branch closures, salary freezes

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2009 IN REVIEW
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› Strong contributions from recent acquisitions - notably Computershare Voucher Services (formerly Busybees) and KCC (bankruptcy and class action administration) also helped

› Margin income held up in the short term better than expected as quality banks chased (and paid for) liquidity – but this won’t be sustained

› Currency volatility knocks reported results about but does not affect underlying business performance (which is what we manage)

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COMPUTERSHARE TODAY
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• › Cost management continues to be a priority – eg, FY 2009 pay freeze across the board

• › But not cutting costs at the expense of services levels - evidenced by ever stronger third party service survey outcomes

• › And continuing to invest in service and product improvements – eg, custodian portal in Australia

• › All of w hich combine to s u e x cellent client retention pport

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COMPUTERSHARE TODAY
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› Strong operations also support great sales outcomes, eg: › USA – Frontier (registry), CIT (bankruptcy), American Funds (mutual fund proxy), Kraft (corporate proxy and corporate action), Chemical Bank (communications services)

• › Canada – Ontario Financin g Authorit y ( re g istr y)

• › UK – Schroders (registry), Resolution (takeover), ASDA (plans)

› Australia – Myer (IPO), CBA (inbound communication services)

› Asia – HK IPOs (since 1 July, we have handled 15 out of 26 IPOs, an d over 88% o f b ot h app li cat ons an i d f un d s ra se i d) , AIA ( p ans l HK), many PRC plans (foreign listings)

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COMPUTERSHARE TODAY
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› Our strong balance sheet has let us concentrate on the business

› We are one of only a handful of companies of our size not to access equity markets during FY09

• › Our debt levels have remained comfortably below 2x EBITDA

› Half our debt is institutional fixed term

• › The other half is term bank facilities:

• › USD 200M 12 month facility surrendered mid year (not currently needed)

• › USD 550M 3 year facility due to roll October 2010 – early stages of renegotiation

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COMPUTERSHARE TODAY
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› Our own M&A activity continues – deals since last AGM include:

› KCC (up to USD 145M) – strongly counter-cyclical and great market share

› HBOS Plans (up to GBP 40M) – takes us to a leading position in the UK Plans market and , more im p ortantl y, to a dominant p osition in the market for truly global plans

› National Cit y ( USD 16.2M+ ) – US TA bolt-on

› I-nvestor (USD 12.4M) – first presence in Denmark and Sweden

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COMPUTERSHARE TODAY
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› As always, we continue to monitor a range of M&A and other investment targets and opportunities: small, medium and large

’ › We assess the same criteria we ve opportunities against always used:

› Will we be at it? any good

› Does it add value to us and/or do we add value to it?

• › Is it sensibly priced?

› Pro ert – we ma move from o eratin leases to finance leases p y y p g in a few of the premises we occupy, allowing us to take advantage of attractive valuations

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LOOKING FORWARD
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• › W e co ntin ue t o l oo k f o r e x n s i o n r ni ca ll a n d i s iti o n in pa (o ga y by acqu )

• market-related areas as well as in less or counter cyclical areas

› India , Russia and China continue to re p resent stron g g rowth p otential

• › Our cross border offering wins us a very high share of clients with lobal ambitions – 8 of 10 names mentioned for the Shan hai

• g g international board are our clients

• › We increasingly differentiate ourselves by delivering quality service and product innovation – especially potent now as competitors cut deep (our IT spend remains ~10% of revenue)

• › Private equity owners of competitors seem to be looking to cash out over next 12 to 24 months

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LOOKING FORWARD
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› We said in August 2009 that we expected USD management earnings per share for financial year 2010 to be similar to financial year 2009

› So far this year our profit is tracking slightly ahead of 2009, and we are increasingly confident of exceeding last year’s performance, assuming equity, interest rate and FX market conditions remain broadly consistent with current levels for the rest of the financial year

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OVERALL STRATEGY
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› Drive operations quality and efficiency through measurement, benchmarking and technology

› our front office skills to and drive revenue Improve protect

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

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CONTINUED DELIVERY AGAINST STRATEGY
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› on the first 2 limbs and has been a Delivery (cost revenue) key factor in protecting our profits in the face of the GFC:

› operational productivity continues to improve across the globe

› revenue initiatives, especially in business as usual, continue to deliver (but mostly filling holes rather than growing)

› operational excellence puts us on top in independent service surveys everywhere they’re offered, protecting our pricing power and strengthening our client retention

› We continue to identify and execute on value accretive acquisitions – eg, KCC, HBOS, National City, I-nvestor

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Annual General Meeting Chris Morris Executive Chairman Questions

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