COMPUTERSHARE LIMITED. — AGM Information 2010

Nov 9, 2010

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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:	10thNovember 2010
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, 10[th] November 2010.

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 10 November 2010

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Annual General Meeting Chris Morris Ch a rman i Introduction

10 November 2010

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Financial Performance Indicators
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• Management adjusted results

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Sustainability
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› We are committed to addressing environmental challenges and minimising our operational impact.

• › In the past 12 months there have been some significant achievements, including:

• › The capture of our first 12 months worth of environmental data

• › Increased staff engagement through activities like Green Week & monthly Green Days

• › Implemented sustainability through our Green Office Challenge i n t at ve i i i

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Staff Engagement
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• › Global Green Week (22 - 26 Feb 2010)

• › Each day of the week had a different focus for staff.

  • › Energy

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• › Waste

• › Resources

• › Tr a v e l

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• › Local teams organised activities in each site.

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Osborne Park (AU)
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Bristol (UK)

Golden (US)

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Sustainability Initiatives
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› Fri e n d l y co m pe titi o n be tw ee n 4 0 o ffi ces

› To find Computershare’s most sustainable o ffi ce.

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› At the end of the challenge , 4 of our offices obtained a perfect score; Bristol (UK), Calgary (CA), Burr Ridge & Chicago (US).

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› Created amazing momentum which drove the develo ment of man additional p y initiatives around the world

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CORPORATE RESPONSIBILITY
‘ ’
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Sunrise Children ’ s Village Update

› Foundations for Sunrise 3 to be poured in D ecem b er 2010

› Sunrise 3 to house to 150 AIDS infected up children

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African Cycle Event September 2010

• › Five day cycle for the Mike Thomson Change a Life Trust

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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 Children's Education Project - Cambodia 250,000
		Chad Farmer Regeneration Project - Chad 572,271 Sunrise Children's Village - Cambodia 678,101
		Kenyan Community Learning Centres – Kenya 147,190 Victims of Crime - South Africa 827,840
		Cash at Bank 2,051,000 Total Raised 4,920,360

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Board Changes
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› Appointment of Jerry Lieberman

• › Resignation of Tony Wales

› P enny an d I c h ang ng o non execu i t ti ve s t a t us

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Annual General Meeting Stuart Crosby Chief Executive Officer

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10 November 2010

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2010 IN REVIEW
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› T o t a l ope r a tin g r e v e n ues – up 7.1 % t o $ 1 ,6 1 9 . 6 milli o n › Management EBITDA – up 7.4% to $510.9 million › Operating cash flows – up 21.4% to $414.5 million › Management net profit after OEI – up 10 . 9% at $321 . 2 million › Management EPS – up 10.9% at 57.80 cents

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1. Annual General Meeting of Computershare Limited.

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2010 IN REVIEW
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• › T o t a l ope r a tin g r e v e n ues – up 7.1% to $1,619.6 million

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› Operating costs – up 7.3% to $1,111.3 million

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› Management EBITDA margin – maintained over 30%*

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• Management adjusted results

• Annual General Meeting of Computershare Limited.

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2010 IN REVIEW
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• › Int e rim d ivi de n d

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– AU14 cents 50% franked

› Final dividend – AU14 cents 60% franked

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1. Annual General Meeting of Computershare Limited.

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2010 IN REVIEW
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• › S tr o n de liv e r o f r ecu rrin r e v e n ues ac r oss bus in ess lin es a n d g y g

• geographies through the year.

• › G oo d c li en t re t en ti t GFC l osses . on pos ( )

• › Solid performance from non - equity market businesses: › Corporate Trust

• › De osit Protection Scheme p

› Voucher Services

› Bankruptcy and Class Action Administration

• › Showing the benefit of recent diversification.

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2010 IN REVIEW
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• › F o r tr a n sac ti o n a l ac tivit y, 2 0 1 0 w as a yea r o f “tw o h a lv es ”.

• › H1 continued the good run of FY09, with strong revenues from:

• › corporate actions (especially capital–raisings),

• › US bankruptcy administration at KCC,

• › large mutual fund solicitation projects.

› H2 saw an a b a t emen t i n a ll th ese areas.

• › Excellent maintenance of client balance levels.

› Pressure on margin income as interest rates remained low and our hedges continued rolling off.

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1. Annual General Meeting of Computershare Limited.

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2010 IN REVIEW
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• › Co ntin ued s tr o n g cos t d i sc i p lin e .

• › But some cost growth:

• › discretionar y com p ensation accrued for the record 2010 y ear

• › made some previously deferred IT capex

• › took advantage of the opportunity to purchase UK property at distressed pricing.

• › Importantly , kept investment in technology at 10% of revenue . › Our own interest costs reduced, partially offsetting reduced margin income.

• › But our interest cost will increase in 2011 as higher borrowing spreads on our refinancing kick in.

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1. Annual General Meeting of Computershare Limited.

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COMPUTERSHARE TODAY
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› Ou r ba l a n ce s h ee t r e m a in s s tr o n g a n d w e h a v e r e n e w ed $600 milli o n in bank facilities.

› Headroom on committed facilities and strong capacity to borrow s gn i ifi can tl y more, w ith ne t d e bt t o EBITDA s till aroun d 1 . 40 ti mes a ft er recent dividend payment.

› This leaves us well positioned for acquisitions, but opportunities to deploy capital have been limited.

› That said, since last AGM we have:

• › spent GBP 36 million acquiring the HBOS Employee Equity Solutions business in the UK;

› moved to 100% ownership of Registrar Nikoil in Russia; and

› recently closed the transaction to swap our North American options administration businesses for a 20% shareholding in Solium Capital.

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1. Annual General Meeting of Computershare Limited.

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COMPUTERSHARE TODAY
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• › Cos t m a n m e nt co ntin ues t o be a ri o rit . age p y

• › But the salary freeze of FY10 will not be repeated.

• › And we are not cutting costs otherwise at the expense of services levels - evidenced by ever stronger third party service surveys.

• › We also continue to invest in service and product improvements.

• › All of which combine to support excellent client retention in the face of c li en t s oo l ki ng o re t d uce cos t s, an d some poc k e t s o f aggress ve i behaviour from competitors.

• › With Ch r s orr s ecom ng non-execu i M i b i ti ve Ch a rman we ave sp i h lit th e former EMEA region into UK, Channel Islands, Ireland & Africa (UCIA) and Continental Europe, headed by Naz Sarkar and Steffen Herfurth respectively.

• Annual General Meeting of Computershare Limited.

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COMPUTERSHARE TODAY
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,
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› H o n g K o n g a n d In d i a n IP O p i pe lin es s tr o n g .

› Little other capital raising activity in most markets.

• › Much talk of M&A but nothing has come to fruition that will result in meaningful revenues for us.

› U S bankruptcies at a low point in the cycle.

› Most other transactional revenue lines also soft.

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COMPUTERSHARE TODAY
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› S tr a t eg i c p ri o riti es r e m a in:

• › Drive operations quality and efficiency through measurement, benchmarkin and technolo g gy

• › Improve our front office skills to protect and drive revenue

• › C on ti nue o see t k acqu s i iti on an d o th er grow th oppor t un iti es w h ere we can add value and enhance returns for our shareholders.

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LOOKING FORWARD
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• › W e spe n d abou t th e sa m e a m ou nt o f tim e a n d e n e r gy l oo kin g a t a r eas where we already operate as we do looking at new verticals.

• ’

• › W e assess oppor t un iti es aga ns i t th e same cr it er a we ve a ways use i l d : › Will we be any good at it?

• › Does it add value to us and/or do we add value to it? › Is it sensibly priced?

• › India, Russia and China remain priorities and we have restructured to dedicate resources to opportunities in Continental Europe.

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LOOKING FORWARD
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› In add iti o n , w e co ntin ue t o co mmit p ri o rit y r esou r ces in tw o a r eas :

› Continuing to lift our market position.

› Engaging with a range of proposals and projects around the globe that look to change the legal and/or operational structure of securities ownership and of communications between issuers and “ ” investors (we refer to these matters as market structure ) .

• › Market structure has been an especially hot topic in the US. The SEC’s proxy reform process continues.

• › Here is a clip from the following website that sums up our view of the situation nicely:

reformtheproxysystem.com

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LOOKING FORWARD
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› We said in August that we anticipated USD management earnings per share being 5% to 10% lower in financial year 2011.

› So far this year our performance is tracking broadly as we expected, and so our outlook is unchanged.

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1. Annual General Meeting of Computershare Limited.