COMPUTERSHARE LIMITED. — Investor Presentation 2009

Mar 17, 2009

==> picture [119 x 23] intentionally omitted <==

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, 18thMarch 2009
To:	Australian Securities Exchange
Subject:	Investor and Analyst Presentation - March 2009

Attached are the materials that are being presented to investors and analysts today as part of a management briefing.

A copy of these materials will also be posted on the Company’s website (www.computershare.com.au) later today.

For further information contact:

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

About Computershare Limited

Computershare ( 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 has over 11,000 employees across the world and serves 17,000 corporations and 100 million shareholder and employee accounts in 17 countries across five continents.

For more information, visit www.computershare.com

Investor & Analyst Briefing Computershare Limited

18 March 2009

Investor & Analyst Briefing

Stuart Crosby President & Chief Executive Officer Welcome & introduction

==> picture [692 x 86] intentionally omitted <==

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

Market environment
----- End of picture text -----

• › Strong recurring revenue base offers significant protection

• › Margin income hit but good treasury management and hedges provide significant cushion

• › Restructuring and recapitalisation transactions also beneficial; expected to continue

• › Enterprise sales approach never more important

• › Cost management a major focus since early 2008, and the full benefit of those reductions yet to be seen in reported results

• › Non financial market cyclical and countercyclical businesses help stabilise profitability – investment focus

• › US and UK/Euro-zone economies hardest hit; expect China and India to be first to emerge

==> picture [692 x 86] intentionally omitted <==

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

KCC acquisition
----- End of picture text -----

› Acquiring Kurtzman Carson Consultants

› Regulatory approval and closing expected in 2 to 4 weeks

› A leading US corporate restructuring claims and noticing agent

› US $19 million operating EBITDA in 2008

› Specialists in bankruptcy administration

› Highly successful, fast-growing company

› Follows up initial entry into this space in late 2007 (Administar)

Investor & Analyst Briefing

Peter Barker Chief Financial Officer Observations from first 60 days

18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

Background and why Computershare?
----- End of picture text -----

Background

› 2 years BHP Billiton Singapore (Iron Ore, Met Coal Marketing)

› 17 years in IT industry in Singapore, USA, the Netherlands, Ireland, UK, Sydney. Final role was Cisco Systems’ regional CFO Asia-Pacific › B.Comm (UQ), MBA (Heriot-Watt), FCPA, MAICD, Wharton AMP

Why Computershare?

• › Culture

• › Strong sustainable business model

› Truly global business

==> picture [692 x 86] intentionally omitted <==

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

Computershare’s culture and fabric
----- End of picture text -----

› Distributed model with limited “headquarters centricity” (ie tiny HQ)

› Strong business accountability, manifested by:

• › EBITDA targets pushed down heavily to most levels

• › Decisions generally made as close to the ‘coalface’ as practical

• › ‘Eat what you kill’ mentality

• › Cultural aversion to bureaucracy

› Multiple layers of “purple people”

==> picture [692 x 86] intentionally omitted <==

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

CFO’s particular areas of focus
----- End of picture text -----

› Short term funding

› Long term funding model / strategy

• › Margin income and strategy

• › Standardisation of finance and support back office operations: drive efficiencies, scale for growth

==> picture [692 x 86] intentionally omitted <==

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

Interest rate sensitivity on core balances
----- End of picture text -----

==> picture [575 x 246] intentionally omitted <==

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

US$m PBT 80
Impact
60
40
20
0
-3.00% -2.50% -2.00% -1.50% -1.00% -0.50% Current 0.50% 1.00% 1.50% 2.00% 2.50% 3.00%
-20
-40
-60 Exposure
Hedged exposure
-80
----- End of picture text -----

==> picture [692 x 86] intentionally omitted <==

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

Hedge lifecycles
----- End of picture text -----

Hedging of long term sustainable balances

==> picture [633 x 245] intentionally omitted <==

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

100%
80%
60%
40%
20%
0%
Jun '09 Jun '10 Jun '11 Jun '12
----- End of picture text -----

Investor & Analyst Briefing Peter Barker Chief Financial Officer Question Time

18 March 2009

Investor & Analyst Briefing Steven Rothbloom Head of Computershare USA Business Overview United States of America 18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: United States of America
Investor Services
----- End of picture text -----

State of play

• › Represent the largest US companies (63% of Dow, 46% of Fortune 100)

• › Continued strong client satisfaction and loyalty

• › Successful deployment and uptake of new products (market order sales; international currency payments; notice and access)

• › Market segmentation gives more efficient and cost-effective client service

• › Significant cross-sell and up-sell activity

Challenges & opportunities

• › Lower volumes and values for transactional business from market conditions

• › Potential for client insolvency to impact client list

• › Changing regulatory requirements and environment

• › Interest rates – only upside now

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: United States of America
Corporate Proxy Solicitation & Funds Services
----- End of picture text -----

State of play

• › Georgeson No 1 M&A proxy solicitor/information agent (over 30% of M&A transactions tracked by Corporate Control Alert magazine)

• › CFS No 1 in mutual fund proxy, winning 70% of available opportunities

• › CFS only recognized full-service proxy provider for mutual funds, handling solicitation, print/mail and tabulation

Challenges & opportunities

• › Depressed M&A activity and new corporate proxy entrants (but struggling)

• › Regulatory changes with new administration

• › Economic slowdown and continued increased scrutiny of equity compensation create unique consultation revenue opportunities

• › Mutual fund restructures delayed by market instability

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: United States of America
Plan Managers & Plans Software
----- End of picture text -----

State of play

• › Plan Managers maintains market share and added 14 clients in 1H09

• › Plans Software no. 1 in client satisfaction for in-house stock plan administration

• › 2 major releases of flagship Express Options product

• › 102 new clients in calendar 08

• › Newly acquired Executive Services business (RSS) increased issuer client base from ~20 clients to ~230 clients

Challenges & opportunities

• › Changes in competitive landscape - future uncertain for major providers (Citi/SSB/Morgan Stanley, UBS and BofA/ML)

• › Transaction and trading volumes down, many stock options underwater

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: United States of America
Communication Services
----- End of picture text -----

State of play

• › Winning new commercial business in banking and other industries

› Continue to provide integral support to registry and plans business in this critical area

• › Launched online document hosting and presentation solution to support SEC notice and access rules

Challenges & opportunities

• › Upcoming legislative events – specifically XBRL

• › ISO 9001:2008 Transition Certification

• › Increased migration to electronic communications

• › Managing exponential growth in online hosting and presentation resulting

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: United States of America
Bankruptcy and class action administration
----- End of picture text -----

State of play

• › A high-potential business in the current environment, with strong activity in both primary products

• › Acquired initial presence (Administar) in October 2007

• › For Administar, leveraging shared services to reduce costs:

• › Canton call center

• › Canton mailroom (starting Q3 FY09)

• › Further building market share by agreement to acquire Kurtzman Carson Consultants announced 16 March 2009 (more details later)

Challenges & opportunities

• › Dramatic increase in number of troubled companies

Investor & Analyst Briefing Steven Rothbloom Head of Computershare USA Question Time

18 March 2009

Investor & Analyst Briefing Wayne Newling Head of Computershare Canada Business Overview Canada 18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Canada
Investor Services
----- End of picture text -----

State of play

• › Client retention remains strong

• › Product development working well: tax free savings accounts (TFSA), self service direct registration for US issuers

• › Reduced M&A/IPO and transactional activity

• › Major focus on cost control and operational effectiveness (controllable costs lowest they have been in five years)

• › Market segmentation gives more efficient and cost-effective client service

Challenges & opportunities

• › Regional competitors active

› Potential for client insolvency to impact client list

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Canada
Corporate Trust
----- End of picture text -----

State of play

• › Despite market downturn, continue to hold strong market position

• › Debt under administration up 17% to ~ $1 trillion; winning most new business

• › Default levels increasing, driving revenue (debt restructuring, etc)

• › Focus on client retention, new business, cost control and margin enhancement

• › Broker Registered Products balances growing

Challenges & opportunities

• › New business slowing for debt, warrants and structured finance as economy contracts

• › Client base shrinkage from consolidation of issuers and economic decline

• › Increase in escrows, P3 mandates, new broker clients and cash balances

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Canada
Communication Services
----- End of picture text -----

State of play

• › Steady growth continues

• › High quality being maintained

• › Significant IT investment in operational delivery to reduce risk and increase effectiveness

• › Successful assimilation of filing acquisition into existing business

Challenges & opportunities

• › Gaining commercial scale organically

• › Current climate limits capital expenditure by insourcers; promotes outsourcing

• › More bolt-on filing acquisitions possible

• › Increasing speed of regulatory change and electronic adoption creates new

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Canada
Plan Managers
----- End of picture text -----

State of play

• › Significant drop in market prices has cut trading activity

• › Companies curtailing equity plan offerings, but a rebound expected as executive pay mix changes from cash bonuses to equity based incentives

• › Cost base reduced in line with revenue decreases, leveraging technology and process improvements

Challenges & opportunities

• › Holding the line on pricing

• › Growing new products (TFSA, Group RSP), and smaller LTIP, Restricted Share and Performance share plan offerings

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Canada
Proxy
----- End of picture text -----

State of play

• › Market now has 3 players, Georgeson maintaining market share

• › Slow down in deal flow, cost base adjusted accordingly

• › Re-signed core business for this season

• › Georgeson sales team actively selling across Computershare lines of business (registry; trust; communication services)

Challenges & opportunities

• › Slowing market activity

• › Hostile proxy activity driven by shareholder activism on the increase (eg say on pay)

• › Continuing to leverage Computershare relationships and gain account penetration

• › Asset reunification gaining solid traction across group

Investor & Analyst Briefing Wayne Newling Head of Computershare Canada Question Time 18 March 2009

Investor & Analyst Briefing James Wong Head of Computershare Asia Business Overview Asia 18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Asia
Hong Kong
----- End of picture text -----

State of play

• › IPO pipeline full but stalled

• › Some recapitalisation projects, but also fee pressure from clients under financial stress

• › New investor-directed products launched: web-based Investor Centre and eIPO pre-registration

Challenges & opportunities

• › HK Companies Ordinance re-write and HKEx’s refocus on scripless offer both opportunities and risks

• › Listing Rules changes allow companies to communicate with shareholders electronically - we offer integrated shareholder communication solutions with electronic as well as paper delivery

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Asia
China
----- End of picture text -----

State of play

• › Plan Managers (HK/China) migration to Beijing underway

› Beijing presence already active in providing service to HK-listed Chinese companies, cross-selling proxy and plan manager services

Challenges & opportunities

› The potential listing of foreign securities and other cross-border products may offer opportunities

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Asia
India
----- End of picture text -----

State of play

• › Market conditions have affected IPO flow and also impacted fee income of mutual fund business, which is AUM based

• › Cost-cutting measures have been implemented

Challenges & opportunities

• › New local IPO regulation could impact on volume of applications

• › Changes in local fund distribution model could impact on our business model

• › Our active involvement in fund industry changes could allow us better chances to grow our market share

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Asia
Japan
----- End of picture text -----

State of play

› Joint venture with Mitsubishi UFJ continues to perform

› Downturn in economy forced issuers to cut back › Reviewing our sales strategy to become more focused › Looking at introducing related new services

Challenges & opportunities

› Further expansion of scope of co-operation challenging

› Strong interest in cross-border co-operation

Investor & Analyst Briefing James Wong Head of Computershare Asia Question Time

18 March 2009

Investor & Analyst Briefing Computershare Limited Morning tea break

18 March 2009

Investor & Analyst Briefing Mark Davis Head of Computershare Australasia Business Overview Australasia

18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Australasia
Investor Services - Australia
----- End of picture text -----

State of play

• › Continued market leadership with 60% market share

• › New products (investor centre, issuer online, intermediary online, investor vote, proxy watch, etc) well received

• › Continued good run of key client retention

Challenges & opportunities

• › Driving home our quality and communications advantage

• › Continuing to leverage off recent investments in new product

• › Resolving outstanding market related regulatory reform agenda

• › Ensuring model evolves to continue to meet needs of smaller end of the market

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Australasia
Investor Services - New Zealand
----- End of picture text -----

State of play

• › Remain clear market leader but market is getting smaller

• › Ongoing emphasis on innovation and leveraging off new product releases (issuer online, investor centre, portfolio view)

Challenges & opportunities

• › Market conditions

• › Equity markets exceptionally quiet

• › Corporate debt registry work is strong

• › Market structure changes mooted but little momentum / support

• › Ongoing innovation – e.g. tax statements, technology, products

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Australasia
Communication Services
----- End of picture text -----

State of play

• › Leading provider of specialised one to one communication solutions that integrate print and mail with electronic distribution

• › QMT integration on track

• › Volumes largely unaffected by market downturn given essential nature of communications eg. utility statements, etc

Challenges & opportunities

• › Delivering on the outstanding synergy and market upside of the QM acquisition

• › Significant upside in inbound solutions which is growing at 30%+ annually

• › Market uptake of e-delivery channels

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Australasia
Plan Managers
----- End of picture text -----

State of play

• › Clear market leader in Australia and organic growth continues

• › Business restructured in last 12 months and in good shape for future challenges

• › Global footprint key to many successes eg. Brambles, BHP

• › Solid recurring business with almost all clients re-offering plans plus significant new offerings eg. Wesfarmers

Challenges & opportunities

• › Deployment of new option system and variety of other new products

• › Market conditions affect dealing income

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Australasia
Proxy Solicitation
----- End of picture text -----

State of play

• › Market leadership in Australia

• › Premium offering remains highly valued in the market (eg. Manchester Unity, BG, BHP, Dairy Farmers, WA Newspapers)

Challenges & opportunities

• › Market conditions (M&A outlook remains subdued)

• › Competition remains strong but losing very little on price

• › New opportunities likely to emerge with debt restructuring

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: Australasia
Fund Services
----- End of picture text -----

State of play

• › All clients migrated to Trust Architect System

• › Expansion of existing book of business

• › Major client business development pipeline

Challenges & opportunities

• › Ongoing web and automation

• › Leveraging off renewed cost focus in market

• › Migration of technology clients onto our book

• › Offering when combined with CCS unique and attractive

• › FUM model a disadvantage in bear market

Investor & Analyst Briefing Mark Davis Head of Computershare Australasia Question Time

18 March 2009

Investor & Analyst Briefing

Chris Morris, Martyn Drake, Naz Sarkar EMEA Management

Business Overview EMEA

18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Registry UK & Ireland
----- End of picture text -----

State of play

• › Capital raising and corporate re-organisation activities remain strong

• › Overall number of accounts in market have reduced through nationalisations

• › Our shareholder base down materially going forward, mostly through HBOS takeover, but also from client losses (Standard Life)

Challenges & opportunities

• › Statutory and regulatory changes present opportunities

• › Shareholder Rights Directive

• › Target 2 Securities

› Exchange Traded Funds administration in Ireland strong and expanding

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Business Services
----- End of picture text -----

State of play

• › Gilts – Increased activity with more auctions

• › Deposit Protection Scheme (DPS) – continues to perform well

• › Letting Protection Service – early days but good potential

• › Emissions Trading Scheme (ETS) – launches in April 09

Challenges & opportunities

• › DPS opportunities in other jurisdictions

• › ETS expansion opportunities

• › Non- registry opportunities (e.g. policy holders)

• › Look for other Government related opportunities

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Plan Managers
----- End of picture text -----

State of play

• › Winning both new major clients and selling more work into existing clients

• › Winning about 50% of all new opportunities

• › Tax calculator is a competitive advantage

• › Costs are being well controlled

Challenges & opportunities

• › Dealing revenue and margin income low

• › Are competitors as focussed on plans business as they used to be?

• › Companies still launching increasingly complex plans which is in our sweet spot

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Communication Services
----- End of picture text -----

State of play

• › Service levels have improved dramatically

• › Costs have been controlled effectively

• › Good revenue due to corporate action activity

Challenges & opportunities

• › Commercial opportunities are challenging due to competitive marketplace

• › Still opportunities to improve with increased automation

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
South Africa
----- End of picture text -----

State of play

• › Increased profitability diluted by lower Rand

• › Very successful Change a life bike ride from a charitable and profile point of view

• › Pan Africa opportunity progressing well

Challenges & opportunities

• › Number 1 in the market so difficult to substantially increase revenue

• › Generate profitability out of Pan Africa

• › Use increased profile to generate more opportunities

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Georgeson
----- End of picture text -----

State of play

• › M&A market down considerably against last year

• › Shareholder activism and enhanced engagement on the rise

• › Companies fear shareholder backlash during the financial crisis

• › France and Netherlands going well, tough in Italy and the UK

• › Unclaimed Asset Business going well, large project for Standard Life; M&A boom of past few years gives opportunities for the next 2 years

Challenges & opportunities

• › Expanding more into Euro markets

• › London Sales Desk – cross selling Computershare wide services to London based advisors (brokers, lawyers, NOMADs, investment banks)

• ›

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
IML
----- End of picture text -----

State of play

• › Parts of conference market down

• › AGM market increasing especially Europe

• › US business now consolidated in Minneapolis

• › Last 12 months we have acquired businesses in Belgium, Australia, US, South Africa and the Netherlands.

• › Organically opened in Hong Kong and Germany

• › Little competition in the AGM market

Challenges & opportunities

• › More competitors but we continue to invest in new technology

• › Opened office in Dubai

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
VEM
----- End of picture text -----

State of play

• › Chose the worst time to buy a bank

• › Losses have been written off

• › Now trading about break even

• › Very little corporate action work or IPOs

• › We now have a full banking licence

• › Moved into our offices

Challenges & opportunities

• › The reasons we bought are still valid being:

• › Access to Clearstream

• › Ability to distribute dividends

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Germany
----- End of picture text -----

State of play

• › Registry going OK but mainly AGMs

• › Plans - big improvement, developed new system

• › Communications Services reorganised and now profitable

• › Governance Services going well

Challenges & opportunities

• › With more shareholder activism there is a wider call for companies to have access to their shareholders

• › May be opportunities to JV with CSDs to provide end to end solution for communication and AGMs in Euro-zone

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Russia
----- End of picture text -----

State of play

• › Been great until now, for the first time we see challenges ahead

• › Registry performing in line with expectations

• › Corporate action pipeline weakening

• › Transactional revenues reduced in line with market

• › Mutual fund TA linked to asset value – significant reduction on prior year

Challenges & opportunities

• › Combination of existing interests likely in next 12 months – integration will be a big challenge

• › Uncertainty around future market infrastructure

• › Product development – margin income, proxy, plans

• › Long term market consolidation and growth engine for region remains

==> picture [692 x 86] intentionally omitted <==

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

Regional Overview: EMEA
Governance Services
----- End of picture text -----

State of play

• › Completed integration of Datacare and World Records

• › All clients now converted to new system called Global Equity Management Systems (GEMS)

• › Synergies have been realised ahead of budget

• › Leading global product

• › ICSA strong competitor in European market

• › Development now centralised in Monahan, Ireland

Challenges & opportunities

• › Economic conditions

• › Excellent pipeline in Continental Europe

Investor & Analyst Briefing

Chris Morris, Martyn Drake, Naz Sarkar EMEA Management

Question Time

18 March 2009

Investor & Analyst Briefing

Penny Maclagan Executive Director

Non Market Cycle Businesses: Busy Bees

18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

What does Busy Bees do? It is a Childcare Voucher
administrator
----- End of picture text -----

• › Childcare vouchers : Government supported, tax effective, targeted employee benefit for provision of childcare services

• › Parents can direct pre tax pounds to authorised care providers for all children up to 16 years of age

• › on Companies offering vouchers do not pay National Insurance (~12%) the voucher value

• › Voucher administrator sits between all 3 parties : Employer, Employee and Carer

==> picture [718 x 443] intentionally omitted <==

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

How does it work?
Busy Bees CV
Childcare Providers Employer
Parents
Parent
Intentions
Voucher
Refund
Payment
----- End of picture text -----

==> picture [692 x 86] intentionally omitted <==

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

The competitive landscape
----- End of picture text -----

Good news: scope to grow with low penetration rates in many sectors The even better news: our position

Sector	Client Volume	Market Penetration
Ftse 100	16	16%
Ftse 250	57	23%
Fire & Rescue	16	23%
Ambulance	20	35%
NHS Trusts	226	48%
Police Forces	23	50%
Councils	221	50%

==> picture [692 x 86] intentionally omitted <==

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

Why is it good for Computershare?
It fits what we do
----- End of picture text -----

› Run a customer service centre

› Record employee names, addresses & intentions

› Manage money

› Clients are corporations & public sector entities

› Make payments, print vouchers

› BUT with tools & processes ripe for improvement

› PLUS and most important:

› Good business with good growth opportunities

==> picture [692 x 86] intentionally omitted <==

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

What have we done?
----- End of picture text -----

› Installed Computershare people in major management and finance roles

• › Aligned the business structure with good customer services for all stakeholders

• › Setup a transition program with sufficient resource and control

› Reviewed the business model and assumptions (e.g. wet signatures)

› Integrated Computershare shared services and standard MIS systems

› Locked in IT strategy

• › Identified and fixed inefficient processes (e.g. double (triple) entry)

› Provider of online services for parent signup and modification

› ~ 15% reduction in staff costs

• › Chose sales support tool - integration planned, initial release by Q1 CY09

==> picture [692 x 86] intentionally omitted <==

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

Now the future: good news
----- End of picture text -----

• › A new system: improved performance, stability and resilience.

• › fully integrated real-time self-serve processing

• › reduction in double-processing and manual workarounds

• › high quality data capture through existing Computershare tools

• › generic voucher management system

• › Facilitate business process change to support strategic direction

› Extract full value of Computershare franchise

Investor & Analyst Briefing Penny Maclagan Executive Director

Question Time

18 March 2009

Investor & Analyst Briefing Steven Rothbloom Head of Computershare USA Non Market Cycle Businesses: Kurtzman Carson Consultants LLC 18 March 2009

==> picture [692 x 86] intentionally omitted <==

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

What does KCC do?
----- End of picture text -----

• › It is a claims and noticing agent for bankruptcy filings and corporate restructuring

• › The business derives its revenue from:

• › Billable hours based on a time tracking system used by all employees

• › Processing related to claims confirmations, voting tabulation, returned mail recording and data maintenance

• › Production volume, a combination of envelope addressing for delivery of notices, and some personal documentation

• › Client pass through charges - printing, postage, couriers, etc

==> picture [692 x 86] intentionally omitted <==

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

The competitive landscape
----- End of picture text -----

Top 2 are:

› KCC

› EPIQ

Others include:

› Garden City

› BMC

• › Administar

• › Donlin Recano

==> picture [692 x 86] intentionally omitted <==

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

Why is it good for Computershare?
----- End of picture text -----

› Clients are corporations

• › Decision makers are primarily law firms

• › Processing business and BPO as we are today

• › Utilises same infrastructure of print & mail, operations and call centres

• › Most significantly :

› It is a great run business, with phenomenal growth opportunities in bankruptcies, class actions, proxy, domestically and globally

==> picture [692 x 86] intentionally omitted <==

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

What have we done?
----- End of picture text -----

• › We completed a very detailed due diligence of KCC and their entire business, infrastructure and growth prospects

• › We have already filed Hart Scott Rodino

• › We hope to close by month end

==> picture [692 x 86] intentionally omitted <==

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

Now the future: good news
----- End of picture text -----

› Their current business, and pipeline is growing rapidly

• › We have a similar but much smaller business that can reap huge benefits when an orderly transition is complete

• › We will add a major service offering that is currently outsourced - proxy solicitation

• › We will explore international business possibilities

Investor & Analyst Briefing Steven Rothbloom Head of Computershare USA Question Time

18 March 2009

Investor & Analyst Briefing Computershare Limited Meeting Closed

18 March 2009