IRESS LIMITED — Interim / Quarterly Report 2012

Aug 23, 2012

24 August 2012

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The Manager Company Announcements Office Australian Stock Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000

ELECTRONIC LODGEMENT

Dear Sir or Madam

IRESS 2012 Half Year Results – Presentation

Please find attached a presentation relating to the company’s half year financial results for the period ending 30 June 2012.

Yours sincerely,

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Peter Ferguson Company Secretary

IRESS Limited A.B.N. 47 060 313 359

Corporate Office: Level 18, 385 Bourke Street Melbourne Vic Australia Tel: (03) 9018 5800 Fax (03) 9018 5844

Sydney Office: Suite 4, 14 Martin Place Sydney NSW Australia Tel: (02) 8273 7000 Fax: (02) 8273 7003

www.iress.com.au

Presentation Title| Subtitle (change on master slide)

HALF YEAR RESULTS - JUNE 2012

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IRESS H1 12 RESULTS

• Group revenue (before investments) down 0.8% on H2 11, up 3.0% pcp.

• Aggregate revenue growth flat over the first half.

• Resilient result in light of conditions.

• Appreciation of AUD negatively impacted South African contribution.

• Group Segment Profit (before investments) down 2.1% on H2’11, up 0.3% pcp.

• Stable cost base outside of internationalised capability and South African investment.

• Underlying Group profit $27.8 million (H2’11: $30.0m, down 7.4%).

• Underlying Group profit (before investments) $30.2m (H2’11 $31.3m, down 3.5%)

• Reported Group profit $19.7m (H2’11: $19.6m, up 0.4%).

• Interim dividend of 13.5¢ 90% franked (2011: 14¢ 90% franked).

• Strong balance sheet

SEGMENT PERFORMANCE AGAINST PRIOR HALF

FINANCIAL MARKETS

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• Aust & NZ

• Op Rev down 0.7% (up 1.0% on PY)

• Seg Profit down 2.5% (down 4.8% on PY)

• • PAT down 4.3% (down 7.1% on PY)

• South Africa(ZAR) H1’12 ( partial H1’11 • Op Rev R64.0m up 2.5%

  • Seg Profit R20.0m down 12.4%

  • • PAT R13.1m down 15.9%

• Canada (CAD)

• Asia (AUD) H1’12 ( start up phase )

• •

• Op Rev down 7.6% (down 1.0% on PY) Op Rev $0.2m H2’11: $0.5m

• • • Seg Profit down 21.2% (down 9.1% on PY) Seg Profit $(1.3)m H2’11: ($1.0m)

• • • PAT down 23.4% (down 11.6% on PY) PAT $(1.0)m H2’11: ($0.8m)

SEGMENT PERFORMANCE AGAINST PRIOR HALF

WEALTH MANAGEMENT

• Aust & NZ

• Op Rev up 2.5% (up 10.2% on PY)

• • Seg Profit up 9.8% (up 19.5% on PY)

• • PAT up 10.1% (up 20.2% on PY)

  • South Africa (ZAR) • Op Rev up 8.1% (up 10.8% on PY)

  • • Seg Profit up 6.0% (up 53.3% on PY)

  • • PAT up 7.8% (up 61.7% PY)

• United Kingdom (GBP) ( start up phase ) • Op Rev $ 0.0m H2’11: $0.0m

• Seg Profit $ (0.8)m H2’11: $(0.1)m

• • PAT $ (0.6)m H2’11: $(0.1)m

• Asia (AUD)

• Op Rev $0.1m H2’11: $0.1m

• Seg Profit $(0.8)m H2’11: ($0.7m)

• • PAT $(0.6)m H2’11: ($0.5m)

GROUP PERFORMANCE AGAINST PRIOR HALF

• Underlying Group Profit

$27.757 m Down $2.206 m, down 7.4% on prior half

• Segment Contribution against prior half

$A

• Financial Markets Aust/NZ

• (0.825)

• Financial Markets Canada

• (0.661)

• Financial Markets RSA

• (0.318)

• Wealth Management Aust/NZ

0.700

• Wealth Management RSA

0.016

sub-total

• (1.088)

• Financial Markets Asia

• Wealth Management Asia

• Wealth Management UK

• (0.235)

• (0.080)

• (0.803)

Early phase organic growth businesses

$(2.206)

• “Published” PAT

$19.667 0.4% up on prior year

GROUP SEGMENT PROFIT MARGINS

Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	Segment Profit Margin: % Revenue per Media Release H2 2010 H1 2011 H2 2011 H1 2012	2009 2010 2011	2009 2010 2011	2009 2010 2011
Fin Mkts	Aust Can (CAD)	56.4% 52.7% 50.6% 49.7% 33.3% 32.9% 35.4% 30.3%					57.2% 56.3% 51.7% 31.7% 33.5% 34.2%
	RSA (ZAR)	36.7% 36.6% 31.3%					36.6%
Wealth Mngt	Aust	42.8% 41.0% 41.5% 44.5%					41.0% 42.6% 41.3% 35.0% 28.4%
	RSA (ZAR)	37.0% 23.5% 33.2% 32.5%

• Margins impacted by:

• Flatter revenues

• Recurring revenue impact of client collapses

• Investment for medium-term growth

STRATEGIC CHARGES

• $7.516m for half (H2’11:$8.966m)

• Change primarily from the Visiplan

• software becoming fully written down during the period.

NON-RECURRING EXPENSES

Net non-recurring expenses before tax of ($0.028)m, includes:

• (0.094) acquisition costs

• 0.124 realised FX gain

• 0.076 other non-recurring contribution

• (0.053) other non-recurring expenses

• (0.810) sundry consolidations

IRESS continued with:

• Amortisation of purchased intangibles such as Computer Software;

• No capitalisation of software development expenditure postacquisition of business.

TAX EXPENSE

• Effective tax rate at 30.9% marginally up on 28.4% for H1’11

GROUP RECURRING SUBSCRIPTION REVENUE*

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90
80
70
60
50
40
30
20
10
-
H1'07 H1'08 H1'09 H1'10 H1'11 H1'12
Fin Mkts - Aust Fin Mkts - Can Fin Mkts - RSA Fin Mkts - Asia
Wlth Mgt - Aust Wlth Mgt - UK Wlth Mgt - RSA Wlth Mgt - Asia
$A Millions
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• Excludes revenues on recoveries for services such as news, market data costs and provision of client communication networks. Includes minority volume-based revenue in RSA.

GROUP SEGMENT PROFIT *

50 40 30 20 10 - H1'07 H1'08 H1'09 H1'10 H1'11 H1'12 -10 Fin Mkts - Aust Fin Mkts - Can Fin Mkts - RSA Fin Mkts - Asia Wlth Mgt - Aust Wlth Mgt - UK Wlth Mgt - RSA Wlth Mgt - Asia

• Definition of Segment Profit as per IRESS Media Release

CHANGE IN GROUP RECURRING SUBSCRIPTION REV.

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14
12
10
8
6
4
2
-
H1'07 H1'08 H1'09 H1'10 H1'11 H1'12
-2
Fin Mkts - Aust Fin Mkts - Can Fin Mkts - RSA Fin Mkts - Asia
Wlth Mgt - Aust Wlth Mgt - UK Wlth Mgt - RSA Wlth Mgt - Asia
$A Millions
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• Definition of Group Segment Profit as per IRESS Media Release

RELATIVE IMPACT H1’12

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100%
80%
60%
40%
20%
0%
Revenue (Recurring Segment Profit Total Direct Staff Total Strategic
Subs) Costs Charges
-20%
Fin Mkts - Aust Fin Mkts - Can Fin Mkts - RSA Fin Mkts - Asia
Wlth Mgt - Aust Wlth Mgt - UK Wlth Mgt - RSA Wlth Mgt - Asia
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• Definition of Segment Profit as per IRESS Media Release

OPERATING CASHFLOW PER SHARE*

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$0.70 40%
$0.60
35%
$0.50
$0.40
30%
$0.30
$0.20
25%
$0.10
$0.00 20%
2003 2005 2007 2009 2011
H1 H2 Effective Tax Rate (RHS)
Effective Tax Rate
cents per share
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• Calculated as Net Cash from Operations ÷ No. of shares on issue at end of period

IRESS GROUP OUTLOOK

• Trading 2012

• Continued poor conditions and difficulties in client base.

• Client technology initiatives offset by cost reductions, downsizing, consolidation.

• Strong demand in specific segments, products and geographies.

• Outlook

• Diversified revenue base continues to provide growth support.

• Aggregate group growth is moderated by current conditions.

• Anticipate <5% decline in Group Segment Profit in FY 2012 (before investments), and <10% decline after allowing for organic growth investments.

• Organic growth

• Balance sheet and financial stability provide investment capacity.

• Organic investments in Asia and UK built around key seed clients. Confident and committed to opportunities seeding medium term growth.

• Less than 5% group revenue committed to growth initiatives.

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Presentation Title| Subtitle (change on master slide)
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HALF YEAR RESULTS – JUNE 2012
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HALF YEAR RESULTS - JUNE 2012 AUSTRALIA & NEW ZEALAND

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FINANCIAL MARKETS

• Reduced H1 2012 result from flatter revenue:

• Revenue decreased 0.7% on H2 2011 (up 1.0% pcp)

• Segment Profit decreased 2.5% on H2 2011 (down 4.8% pcp)

• Revenue profile reflects resilient result amidst difficult conditions:

• Average monthly gross cancellation slightly higher than in previous half.

• Cancellations reflect gradual headcount reductions in client base.

• Reduced screen-based revenue offset by additional server based implementations.

• Ongoing focus on delivery and support, particularly through client transitions and implementations.

FINANCIAL MARKETS - 2012

• Australian multi-markets update:

• 20/25 ChiX participants use IOS+ in part or all of trading architecture.

• BMR in production with 16 clients.

• IRESS Trade-through Analysis (TTA) important for sell and buy side best execution monitoring. Tightly integrated into IRESS desktop for per order and account analysis.

• OTW multi-market trading terminal competitive alternative to ASX ITS and ASX BEST.

• New Zealand

• Exchange technology upgrade underway

• Evolved trading architecture on IOS+ to be deployed.

• Retail broking increase in third-party outsourced clearing and flexible IRESS solutions.

• Mobile product suite available to all IRESS users (iphone, ipad, Android).

• Strong demand for IPS meeting range of portfolio solutions: retail, SMA, institutional.

• Private Wealth solution reflecting retail broking trend.

DAILY TRADES ON THE ASX

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700
600
500
400
300
200
100
0
Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12
Number of Trades Value of Trades
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MARKET FRAGMENTATION – CANADA & AUSTRALIA

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COMPARATIVE MESSAGE RATES (PER TRADE PER DESTINATION)
180
170
157 158
121
120 112
105
60
47
33
26
11
8
0
0
TSX CHI-X ALPHA PURE ASX CXA
Aug-11 Aug-12
Number of Messages per Trade
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* PURE Comparative Message Rate as at Feb-11

FINANCIAL MARKETS –SUBSCRIPTION REVENUE

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8.0
7.0
6.0
5.0
4.0
3.0
2007 2008 2009 2010 2011 2012
$A Millions
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Up to August 2012

FINANCIAL MARKETS - OUTLOOK

• 2012 outlook:

• Continued focus on cost management by clients and caution on outlook remains.

• Client project activity continues and demands delivery focus.

• Gradual lessening of best execution requirements by ASIC will defer into 2013.

• Meaningful cost savings achievable by using IRESS solutions remain compelling.

• Expect conditions to continue for at least the course of 2012.

• Price indexation policy in Australia to adjust to per annum from 2012.

• Under flat revenue outlook and no material change to headcount, expect lower Segment Profits for the year after price and salary increases.

WEALTH MANAGEMENT

• Strong growth driven by product differentiation and delivery:

• Revenue increased 2.5% on H2 2011 (up 10.2% on pcp)

• Segment Profit increased 9.8% on H2 2011 (up 19.5% on pcp)

• Revenue growth reflects heightened implementation activity over the half:

• Institutional rollouts are progressing, presenting additional organic opportunities.

• Managed cloud deployment and flexible advice platform capability underpin demand across advice channels.

• Investment climate and regulatory pressure have real client business impact, yet continue to drive technology demand.

• Highlight growth over period in CRM, portfolio and revenue management products.

• Product, independence, and scale continue to be differentiating characteristics.

WEALTH MANAGEMENT - 2012

• XPLAN advice platform meeting business and FoFA needs:

• Single dealer platform spanning all advice channels and importantly cross-referrall capability: online, scaled advice, call centre, full service incl private bank.

• Flexible user pays model allows choice and dial-up/down of subscription & advice offer.

• XPLAN increasingly used as platform to support integrations and other applications.

• Integrated revenue management now essential for disclosure efficiency.

• Pre and post-advice oversight & compliance AdviceContainer unique.

• Engagement through client portal is a key priority for client base.

• Competitive pricing allowing whole of advised end-client base to access.

• End client (investor) XPLAN tablet to be released this year.

• XPLAN 2 deployed at 90+% of sites. New platform opens new and additional funcitonal functionally.

• XPLAN considered most widely used and richest functional advice platform.

PRIVATE WEALTH MANAGEMENT

• Private wealth management increasingly prominent globally:

• Capturing global trends of increased direct investment focus, and transition from execution-only to portfolio-generated orders.

• Powerful intersection of IRESS’ financial markets and wealth management capability.

• Unique IRESS solution and positioning:

• Unique combination of XPLAN/IPS/IOS+ providing single integrated adviser desktop.

• Multi-asset/currency portfolio and tax management, model management, order management, CRM, advice.

• Client Portal offering rich reporting and interaction with clients is differentiating.

• Highly configurable by role and function with compliance and oversight core.

• Progressing opportunities in this segment internationally.

• Initial implementations already underway in Australia and South Africa.

WEALTH MANAGEMENT – SUBSCRIPTION REVENUE

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5.0
4.0
3.0
2.0
1.0
0.0
2007 2008 2009 2010 2011 2012
$A Millions
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Up to August 2012

WEALTH MANAGEMENT OUTLOOK

• 2012 outlook:

• Positive revenue momentum from first half into early trading.

• Growth driven by institutional rollouts and organic & prospective demand across client base for FoFA differentiated products.

• Movement in the segment is significant given regulatory change and therefore retain medium term caution.

• With client project activity and near term opportunities, we anticipate strong Segment Profit growth for FY2012.

Presentation Title| Subtitle (change on master slide)

HALF YEAR RESULTS - JUNE 2012 AUSTRALIA & NEW ZEALAND CANADA

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CANADA - OVERVIEW

• Reduced result:

• Revenue (CAD) decreased 7.6% on H2 2011 (down 1.0% on pcp)

• Segment Profit (CAD) decreased 21.2% on H2 2011 (down 9.1% on pcp)

• Half comparison impacted by one-off implementation project fees in 2011.

• Prolonged and deteriorating conditions maintain pressure on clients, focus on cost and systems consolidation.

• Business is heavily biased to sell-side trading systems and directly exposed to outcome of that segment.

• Opportunities remain in sell-side and adjacent segments, though at this stage more than offset by the negative impacts.

CANADA - OVERVIEW

• Continued delivery on Canadian Institutional OMS with full order lifecycle capability now in early release. An integrated single solution at competitive price point expecting many opportunities in client base.

• Enhanced IRESS low-latency market data architecture now deployed to 99% of clients.

• IRESS FXM now in production with scheduled rollouts for all remaining US Agency desks.

• Retail order management investments have generated positive response and now adopted by retail firms beyond seed client. Provides differentiating features incl flexible management and automation of retail flow.

• Extended and differentiated capability for retail options execution (US and Canadian). IRESS Multi-Leg Strategy module to be released Q3.

• Continue to see interest in Retail Online trading solutions. Current market conditions are extending the sales cycle for identified opportunities.

BROADENING PRODUCT/BUSINESS SEGMENTS

• IRESS Professional Market Data

• Localised features and content continue to be delivered as userbase extends.

• Differentiated offer with tight integration to trading, and local support.

• Desktop now used by all exchanges in Canada for oversight and insight.

• Positive medium-long term opportunity.

• Retail Online Product Suite

• Opportunity to leverage existing infrastructure to offer next generation retail solution.

• Continued engagement with clients looking to differentiate and engage.

• Conditions are extending current sales cycles.

• Private Wealth Management

• Regulatory movement increasing need for adviser efficiency and oversight.

• Commercial trend to migrate from execution-only advice to portfolio-managed.

• Single integrated desktop appealing against many disparate applications and functions on an adviser desktop today. Native IOS+ integration differentiating.

• Actively working with PWM seed prospects in Canada.

DAILY TRADES IN CANADA*

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600 Alpha
commenced
H2’08
Chi_X
500
commenced
H1’08
Pure Market
400
commenced
H1’07
300 Triact & Omega
commenced
H2’07
200
100
-
Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12
TSX Value of trades TSX Number of Trades
Total Mkt Value of trades Total Mkt Number of Trades
Common Base from 2007
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• Common Base calculation has zero impact for initial start phase of new markets

CANADA – MONTHLY SUBSCRIPTION REVENUE

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1.6
1.2
0.8
0.4
2007 2008 2009 2010 2011 2012
CAD$ Millions
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*Assumes 100% ownership Up to August 2012

CANADA - OUTLOOK

• 2012 outlook

• Trading has continued to reflect the deteriorating conditions.

• Continued strategic work with clients on core trading architecture and extending to adjacent business units matching our product capability.

• Cost base maintenance important to support next generation of growth.

• In the short term expect 2012 Segment Profit decline to near 2009 levels.

• Underlying opportunities exist despite environment. Focus is to unlock these as part of saving clients costs through outsourcing, and product and segment diversification of our business in Canada.

Presentation Title| Subtitle (change on master slide)

HALF YEAR RESULTS - JUNE 2012 AUSTRALICANADA SOUTH FRICA A & NEW ZEALAND

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SOUTH AFRICA

• Solid South African result across segments given investment ahead of revenue growth:

• Total revenue increased 4.0% (ZAR) on H2 2011 (up 19.7% pcp)

• Segment Profit declined 7.8% (ZAR) on H2 2011 (up 15.4% pcp)

• Reduced result for Financial Markets given platform investment:

• Revenue (ZAR) increased 2.5% on H2 2011

• Segment Profit (ZAR) decreased 12.4% on H2 2011

• Strong Wealth Management result and delivery focus:

• Revenue (ZAR) increased 8.1% on H2 2011

• Segment Profit (ZAR) decreased 6.0% on H2 2011

• AUD result impacted by continued adverse currency movement.

SOUTH AFRICA – 2012

• Seamless transition to evolved trading architecture, offering new opportunities

• JSE trading engine now deployed in SA, live from July.

• Cash and derivative exchange gateways now deployed on IRESS core technology

• High performance IOS+ a component in trading architecture at all brokers.

• Investment in managed infrastructure. 80% of clients choosing IRESS for fully hosted and managed services. Additional services available.

• Stable delivery and scale already opening additional opportunities.

• Retail Online product suite (Trader/Investor/Mobile) in production and number of new multi-asset class implementations underway.

• IRESS PRO in production as domestic market data desktop tightly integrated with trading.

• Securities Lending position strong in local market. Opportunity to leverage investment in managed environment, additional front office capabilities and scale opportunities.

SOUTH AFRICA – 2012

• Private Wealth Management – in production, strong pipeline, numerous implementations:

• Strong RSA offering intersecting financial markets and wealth strengths.

• Solution solves specific local requirements with international capability, with strong local support.

• Important product upgrade for existing Peresys clients tightly integrated desktop.

• Wealth Management – large rollout focus

• Several institutional wealth management transitions underway.

• XPLAN positioned as advice platform across multiple channels, with deep integration.

• Single dealer platform for multi-channel distribution and cost efficiency key offer.

• Compliance, efficiency and engagement continue to be business drivers in wealth.

• Revenue management and integrated adviser desktop differentiating.

• Multi-jurisdictional wealth experience and scale are differentiating competitively.

SOUTH AFRICA – MONTHLY SUBSCRIPTION REVENUE

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16
12
8
Feb 11 Jun 11 Oct 11 Feb 12 Jun 12
Up to August 2012
ZAR Millions
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SOUTH AFRICA - OUTLOOK

• 2012 outlook

• Trading has commenced with positive momentum from H1.

• Investment in financial markets delivery and architecture during H1 provides confident platform for revenue growth in medium term.

• Numerous opportunities for strategic PWM offering and unique IRESS proposition.

• Large wealth implementations present opportunities to grow over medium term.

• Expect opportunities to bring strong revenue growth over FY 2012, with investment costs mostly offset, and lower to flat Segment Profit for the year likely.

Presentation Title| Subtitle (change on master slide)

HALF YEAR RESULTS - JUNE 2012 AUSTRALIA & NEW ZEALAND CANASI A DA

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ASIA

• Revenue growth delayed but progressing positively:

• Material impact divisionally by MF Global collapse late 2011. Working to offset through replacement and additional platform opportunities.

• Two new CFD platform clients now in production first half. Further regional opportunities expected.

• Number of wealth implementations underway, broad participant type.

• Strategic positioning across product and segment regionally:

• Managed comprehensive solution for retail online trading and market data.

• Private Wealth solution offering tight integration and efficiency through trade cycle for private client advisers and private banks.

• XPLAN retail wealth platform scales functionally to all participant types.

• Increased Australian-Asian client activity, expected to continue. IRESS strategic positioning important for regional solutions and service model.

• Expect Asian net loss in Asia to be near $4.0m in 2012.

• Confident in medium-long term growth opportunities.

• Open to acquisitions in the region.

Presentation Title| Subtitle (change on master slide)

HALF YEAR RESULTS - JUNE 2012 AUSTRALIA & NEW ZEALAND CAU N ITED KINGDOM ADA

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WEALTH MANAGEMENT

• Strategic medium-long term growth initiative in UK commenced November 2011.

• Established with significant seed client and experienced team. Represents low risk profile compared to normal green fields operation without tangible client.

• Delivery focus during the first half has been to localise software, meet functional deployment priorities incl key integrations, and establish operating infrastructure. Two datacentres now fully operational across IRESS wealth and financial markets capability.

• Pilot and rollout of XPLAN commenced in July in accordance with project schedule. Very positive feedback and strategic positioning of client ahead of RDR.

• Strategically working with range of prospects given opportunities presented by XPLAN. Expect progress with second signed client shortly.

• Product, independence, and scale are differentiating competitive characteristics.

• Segment Profit funding requirement of up to $5.0pa, subject to regular review based on opportunities.

• Contracted minimum revenue to commence from January 2013.

FINANCIAL MARKETS

• Leveraging UK infrastructure investment across wealth management and financial markets.

• Redundant data centres now operational in London.

• International market data and order routing in place for London-based deployments and international connectivity. Order Routing Hub in UK and RSA natively connected supporting new flexible regional solutions.

• Numerous opportunities for outsourced managed solutions of scale offering comprehensive market data, trading and deployment. Retail Online product suite proving portable and flexible enough to meet wide range of demands.

• Senior executive appointed in London to progress growth in this segment.

CONTACT IRESS

AUSTRALIA				NEW ZEALAND		ASIA
Melbourne		+61	3	9018 5800	Auckland		+64 9 300 5571
Sydney		+61	2	8273 7000	Wellington		+64 4 462 6850
Perth		+61	8	6211 5900
Brisbane		+61	7	3011 4700
Adelaide		+61	3	9018 5800
CANADA				SOUTH AFRICA		UNITED KINGDOM
Toronto		+41	6	907 9200	Johannesburg		+27 11 236 4700
				Durban		+27 31 203 7500
				Capetown		+27 21 657 8800

Email | enquiries@iress.com Web | www.iress.com

Copyright @ IRESS Limited. All rights reserved.

SUPPLEMENTARY INFORMATION

• Divisional dashboards

• Strategic charges

• Tax expense & franking

• Share grants

FINANCIAL MARKETS - AUSTRALIA

H2 2011 H1 2012	H2 2011 H1 2012	H2 2011 H1 2012	%Chg LC
(A$'000) (A$'000)
Operating Revenue	54,910	54,549	-1%
Segment Profit*	27,810	27,106	-3%
PAT*	18,979	18,154	-4%
Non Recurring Exp	267	376
Avg Headcount FTE	192.3	194.6	1%

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H2'11 6% [0%] 6% 1% H1'12
6% 5%
2% 2%
3% 4%
83% 82%
Direct Staff (inc AL) Other Employee Related
Hardware & Software Occupancy
General Administration Comms & Other
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Monthly Subs Revenue / Segment Profit
8 32 Headcount
240
220
7 28
200
6 24 180
160
5 20
140
120
4 16
Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
. Dec 10 Jun 11 Dec 11 Jun 12
HY Seg Profit (RHS) Subs Revenue
A $ m
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*Definition of Segment Profit and PAT as per IRESS Media Release

WEALTH MANAGEMENT - AUSTRALIA

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H2 2011 H1 2012
%Chg LC
(A$'000) (A$'000)
Operating Revenue 25,451 26,076 2%
Segment Profit 10,574 11,607 10%
PAT 6,910 7,610 10%
Non Recurring Exp (284) (83)
Avg Headcount FTE 215.5 220.0 2%
Monthly Subs Revenue / Segment Profit
5.0 12
4.5
10
4.0
3.5
8
3.0
2.5 6
. Dec 10 Jun 11 Dec 11 Jun 12
HY Seg Profit (RHS) Subs Revenue
A $ m
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H2'11 4% [2%] 3%1% H1'12
0% [5%]
5% [0%][6%]
5%
84% 85%
Direct Staff (inc AL) Other Employee Related
Hardware & Software Occupancy
General Administration Comms & Other
Headcount
240
220
200
180
160
140
120
Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
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*Definition of Segment Profit and PAT as per IRESS Media Release

CANADA

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H2 2011 H1 2012 %Chg LC H2'11 [4%] [2%] [3% 2%] H1'12
1% [3%] 2% [3%]
(CAD$'000) (A$'000) (CAD$'000) (A$'000)
9%
10%
Operating Revenue 12,728 12,236 11,756 11,309 -8%
Segment Profit 4,512 4,341 3,557 3,418 -21%
PAT 2,920 2,810 2,236 2,149 -23%
Non Recurring Exp (259) (245) 24 22
81% 80%
Avg Headcount FTE 55.4 54.4 -2%
Direct Staff (inc AL) Other Employee Related
Hardware & Software Occupancy
General Administration Comms & Other
Monthly Subs Revenue / Segment Profit
Headcount
60
1.6 4.5
50
1.2 3.5
40
0.8 2.5 30
. Dec 10 Jun 11 Dec 11 Jun 12 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
HY Seg Profit (RHS) Subs Revenue
CAD $ m
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*Definition of Segment Profit and PAT as per IRESS Media Release

SOUTH AFRICA

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H2'11 3% [[3%]] 4% 4% H1'12
7% 6%
2% 2%
4% 4%
81% 80%
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3% [[3%]] 4% 4%
H2 2011 H1 2012 7% 6%
%Chg LC
2% 2%
(ZAR$'000) (A$'000) (ZAR$'000) (A$'000) 4% 4%
Operating Revenue 84,833 10,940 88,234 10,816 4%
Segment Profit 30,272 3,830 27,899 3,468 -8%
PAT 20,761 2,626 18,684 2,324 -10%
Non Recurring Exp (1,118) (166) 419 9
81% 80%
Avg Headcount FTE 157.7 163.3 4%
Direct Staff (inc AL) Other Employee Related
Hardware & Software Occupancy
General Administration Comms & Other
Monthly Subs Revenue / Segment Profit Headcount
15 40
170
30
150
10
20
130
5
10 110
0 0 90
. Dec 10 Jun 11 Dec 11 Jun 12 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
HY Seg Profit (RHS) Subs Revenue
ZAR$ m
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*Definition of Segment Profit and PAT as per IRESS Media Release

ASIA

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H1'12
H2'11 1% 5% [[1%]]
18% 7%
1%
4%
8%
1%
6%
66%
82%
Direct Staff (inc AL) Other Employee Related
Hardware & Software Occupancy
General Administration Comms & Other
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H2'11 1% 5% [[1%]]
H2 2011 H1 2012 18% 7%
%Chg LC
1%
(A$'000) (A$'000)
4%
Operating Revenue 638 339 -47%
8%
Segment Profit (1,685) (2,113) 25%
1%
PAT (1,279) (1,594) 25% 6%
66%
Non Recurring Exp (138) (261)
Avg Headcount FTE 27.3 36.4 33%
Direct Staff (inc AL) Other Employee Related
Hardware & Software Occupancy
General Administration Comms & Other
Monthly Subs Revenue /Segment Profit
0.2 2.5 Headcount
40
MF impact
1.5
0.1
30
0.5
0.0 20
. Dec 10 Jun 11 Dec 11 Jun 12
-0.5
10
-0.1
-1.5
0
-0.2 -2.5 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
HY Seg Profit (RHS) Subs Revenue
AUD$ m
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*Definition of Segment Profit and PAT as per IRESS Media Release

UNITED KINGDOM

H2 2011 H1 2012	H2 2011 H1 2012	%Chg LC
(GBP$'000) (A$'000) (GBP$'000) (A$'000)
Operating Revenue	0 0 14 22
Segment Profit*	(78) (119) (807) (1,238)
PAT*	(54) (83) (577) (886)
Non Recurring Exp	0 0 (7) (10)
Avg Headcount FTE	3.0 7.4	147%

H2'11 0% 3%[0%] H1'12 1%[4%][ 1%1%] 9% 84% 97% Direct Staff (inc AL) Other Employee Related Hardware & Software Occupancy General Administration Comms & Other

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0.1 Monthly Subs Revenue /Segment Profit 1.0 Headcount
15
0.1 0.5
10
0.0 0.0
. Dec 10 Jun 11 Dec 11 Jun 12
5
-0.1 -0.5
-0.1 -1.0 0
HY Seg Profit (RHS) Subs Revenue Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Apr-12
GBP$ m
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*Definition of Segment Profit and PAT as per IRESS Media Release

GROUP STRATEGIC CHARGES

- 5 10 15 20 $A Millions	- 5 10 15 20 $A Millions
			2007 2008 2009 Fin Mkts Aust Fin Mkts Can		2010 2011 Fin Mkts RSA Fm Asia			2012 2013 2014 2015 2016 Wlth Mgt Aust Wlth Mgt RSA Wlth Mgt Asia UK
			AUD $ m Description		H1'12 H2'12 H1'13 H2'13 H1'14 H2'14 H1'15 H2'15 H1'16
		Fin Mkts Aust		Peresys Software		3.934 3.934 3.934 3.934 3.934 3.934 3.934 3.934 0.381
		Fin Mkts RSA		Peresys Customer List		0.789 0.789 0.789 0.650 - - - - -
	Wealth Mgt Aust			Visiplan Software Fundclick Software		2.286 - - - - - - - - 0.482 0.482 0.482 0.080 0.080 - - - -
	Wealth Mgt Asia			Sentryi Software		0.025 0.027 - - - - - - -
	UK*			Business est. share grants		0.339 1.318 1.136 0.691 0.599 0.414 0.349 0.218 0.151
	TOTAL 7.855 6.549 6.340 5.355 4.612 4.347 4.283 4.151 0.532

*UK grants also included in Share Grants slide

NON-AMORTISING INTANGIBLES

	Description Cost (AUD) $m Amortisationperiod	Description Cost (AUD) $m Amortisationperiod	Description Cost (AUD) $m Amortisationperiod	Description Cost (AUD) $m Amortisationperiod
	Canada Fin Mkts	LP Goodwill	8.498
	Fin Mkts RSA	Peresys Goodwill	10.551
Goodwill	Wealth Mgt Aust	Plantech Goodwill Visiplan Goodwill Transactive Goodwill DMS Goodwill	3.157 10.695 0.285 1.042	Will be subject to regular impairment
	Wealth Mgt RSA	Spotlight Goodwill	4.428	testing
	Wealth Mgt Asia	Sentryi Goodwill	2.004
	TOTAL GOODWILL 40.660
Database	Wealth Mgt Aust	FundData Database	1.540
	TOTAL DATABASE 1.540

SHARE GRANTS

• Value of staff share grants made in May 2012 (excludes MD):

• Deferred shares & Deferred Share Rights $6.363m (2011: $5.714m)

• Performance Rights $1.510m (2011: $1.595m)

• Increase aligns with headcount growth.

• P&L impacted in future years with 2012 DSR & DS grants consisting of a combination of 2 and 3 year terms.

• Once-off share grant of $5.215m linked to business establishment in UK.

• Hurdles aligned to UK business growth over 3 – 4 years, with vesting skewed to end of term. Accounting treatment skews expense to earlier periods

• Viewed as a Strategic Charges by IRESS.

• Full allocation approved by shareholders at AGM issued to MD. Performance Rights subject to 4 year term.

• Existing SBP expense commitments (subject to cancelations):

Future Committed SBP($AUD m) H1'12 H2'12 H1'13 H2'13 H1'14 H2'14 H1'15 H2'15 H1'16	Future Committed SBP($AUD m) H1'12 H2'12 H1'13 H2'13 H1'14 H2'14 H1'15 H2'15 H1'16
SBP Expense	3.867 3.969 3.357 2.096 1.858 1.391 0.983 0.073 0.050
UK business est. grants*	0.339 1.318 1.136 0.691 0.599 0.414 0.349 0.218 0.151

*UK grants also included in Strategic Charges slide