COMPUTERSHARE LIMITED. — Earnings Release 2025

Aug 11, 2025

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Strong results. Growth across all businesses. Positive outlook.

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Stuart Irving, CEO noted,

“Computershare has delivered another year of strong earnings growth, with Management EPS up 15%. Results are in line with the earnings guidance we upgraded in February. We are executing well on the strategic plans we made to build a simpler, higher quality and capital light Computershare, that can deliver consistent results and enduring returns for shareholders.

We have streamlined the group and recycled capital to scale our exposure to long term growth trends. These growth drivers have helped us to deliver earnings growth as interest rates fall.

Comparing the results to FY24 and excluding US Mortgage Services sold in May 2024, FY25 revenues were $3.1b, up 4.4%. Margin Income (MI) was resilient and exceeded expectations at $759m. Average client balances were up to around $30b. As expected, lower interest rates stimulated some recovery in client activity. Coupled with the benefits from our hedging strategy, this mitigated the impact of lower yields.

EBIT ex MI increased by 17% as growth and cost management drove operating leverage. EBIT ex MI margins expanded by 150 basis points to over 17%. The new capital light Computershare delivered ROIC of over 35%.

Client fee revenues were up more than 4%. These fee revenues are recurring, typically long-term in nature and account for most of the group’s revenue. Event and transaction revenues were up over 13%. In April, when macro volatility spiked, some clients postponed transactions, impacting our volumes. Markets have since stabilised and we expect some of these events to come back in FY26. There is more recovery potential across Computershare.

All core businesses delivered revenue and earnings growth both with, and excluding margin income.

Issuer Services had another pleasing year and performed well. Register Maintenance revenues were up over 3% with growth in issuer and shareholder paid fees. Corporate Action revenues increased by 4%, despite transaction volumes being down overall. The optimism we had in February for recovery in transaction volumes did not materialise. Encouragingly, the number of announced M&A deals was up 11% at the end of the year, boding well for higher M&A activity in FY26. We continue to invest and build scale in complementary products including Governance Services, where units and entities under management continued to rise, and investor relations where we expanded our product offering with two acquisitions in the year.

NOTE: All figures (including comparatives) are presented in US Dollars (unless otherwise stated).

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Corporate Trust was a standout. Fee revenue increased by over 8%, driven by increased mandates in Structured Products and higher average revenue per deal. Margin income was effectively unchanged, down less than 1%. With debt issuance volumes starting to recover, higher client balances offset the impact of lower yields. The synergy realisation program is progressing well, and helped deliver an expansion in EBIT ex MI margins of around 600 basis points. In FY26, we expect recovery in debt issuance, and the increased number of mandates under management to drive further improvement.

Employee Share Plans continues to deliver impressive results. Revenues increased by 9% and Management EBIT was up over 15%. We have delivered the full synergies from the Equatex acquisition and continue to strengthen the business with our market-leading EquatePlus platform, now deployed in all major markets. The value of Assets Under Management continues to increase as more employers use equity in remuneration, underpinning long term growth.

We retain a strong balance sheet with the flexibility to fund selective acquisitions, organic growth, and investments in technology and reward shareholders. Computershare completed its AUD 750m buyback in FY25, with an average purchase price of AUD 29.59. Under current Australian Tax legislation, any future share buyback programs would be a tax inefficient way to reward shareholders and therefore unlikely in the short term. With higher earnings and a positive outlook, we are pleased to announce an increase in our final dividend to AUD 48 cents per share, bringing a total for the year to AUD 93 cents, an increase of 14.3% on the prior year.

FY26 Outlook

We enter FY26 with confidence and expect to deliver another year of positive earnings growth. Initial guidance is for Management EPS to be around 140 cps, up 4%. With increased exposure to long-term trends, momentum in our core businesses and the benefits of a strengthened balance sheet, we are well placed to continue to deliver growth and enduring returns for shareholders.

Final dividend

48 cents per share (AUD) unfranked. Up 14.3% on prior year final dividend.

Record date: 20 August 2025 Payment date: 15 September 2025

The Results Presentation is available for download at https://www.computershare.com/corporate/investorrelations/financial-information/results

FOR FURTHER INFORMATION

Michael Brown - Investor Relations Mobile: + 61 400 248 080

Email: Michael.Brown@computershare.com.au

Please refer to the FY25 Results Presentation for guidance assumptions, detailed financial data and the important notice on slide 51 regarding forward looking statements.

The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with Australian Auditing Standards.

This announcement was authorised to be released to the ASX by the Board.

NOTE: All figures (including comparatives) are presented in US Dollars (unless otherwise stated).

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