SEEK LIMITED — AGM Information 2005

Nov 8, 2005

Annual General Meeting 9th November 2005

• Ordinary Business: $\qquad \qquad \blacksquare$
• Presentation by Chief Executive Officer $1₁$
• Tabling & Consideration of 2005 Financial $2.$ Reports
• Remuneration Report $3.$
• 1. Election of Directors

CEO Update

Paul Bassat

2005 Highlights

Strong financials

Exceeded Prospectus

Revenue Growth drivers

The Market

Structural move continues

Market Leader

↑ Revenue TEBITA ↑ EBITA Margin ↑ Volume ↑ Yield

Online: 1 31% Print: $\sqrt{6\%}$

Strong market leadership

Growth

Growth within core Seek Learning

Successful expansion since listing

Financial Highlights

FY 2005 $\mathsf{S}$ m 69.6		Prospectus		FY2004
	Revenue		4.2%		75.3%
29.4	EBITDA		5.8%		104.2%
28.4	EBITA		5.6%		104.3%
21.8	NPAT (pre goodwill)	a a mhairtean	10.1%		52.4%
8.1 cents	EPS (pre goodwill)			5.6 cents
$16.4$ cents	NTA			$11.6$ cents

Sustained Revenue & EBITA Growth

Strategies for Growth.........

SEEK Employment

• Volume growth $\blacksquare$
• Print to online $\blacksquare$ migration
  • Early stage $\blacksquare$ markets
  • SME $\blacksquare$
  • Geographic $\blacksquare$
• Price
  • Changing $\blacksquare$ customer mix
  • Aligning value & $\blacksquare$ pricing
• Product Expansion $\blacksquare$
• Resume Database $\blacksquare$
• Matching tools $\blacksquare$

SEEK Learning

• Leverage existing sales / marketing & distribution capabilities
• Leverage large & $\blacksquare$ relevant audience
• Higher Education $\blacksquare$
• Vocational training $\blacksquare$
• TAFE

Our People.......

• Building the platform $\blacksquare$
• Strong & stable leadership $\blacksquare$
• Experienced Board & Management team $\blacksquare$
• Best Employer 2004 & 2005 Hewitt $\blacksquare$
• Passionate, driven & committed staff culture $\blacksquare$

The Market

$\overline{9}$

Structural move accelerated in H2 05

Source : ANZ Job Advertisement Series, July 2005

...and still has a long way to go

Total employment classified market

• Online penetration still only at $\approx$ 15% in \$ terms $\omega$ $\blacksquare$
• Print volumes down by 6.4% YOY (2) $\blacksquare$
• Online volumes up by 31.2% YOY (2) $\blacksquare$

US experience

• Penetration at 22%, but still growing at CAGR of 30% $\blacksquare$
• Rate of market share shift broadly consistent through $\blacksquare$ employment cycle (3)

(1) SEEK estimates

(2) $ANZ$ , $-July$ 05 $YOY$

(3) SEEK estimates

SEEK remained the clear market leader on all metrics in 2005

Source: Nielsen NetRatings - Jun 05

Source: SEEK estimates - Jun 05

FY2006 Outlook

• Solid start to the 2006 financial year.
• Employment market has remained strong
• Migration from print to online continues to drive market growth.
• Earnings for the 4 months to 31 October 2005 are ahead of our Prospectus forecasts.
• If the current strength in the employment market is sustained, we would expect our 2006 results to be ahead of the Prospectus forecast of \$40m EBITDA.
• Current market general consensus estimate for EBITDA for the $\blacksquare$ 2006 financial year is approximately \$43m. As a guide, SEEK is comfortable with this current consensus estimate.
• Given we have a prospectus forecast in place, and in line with ASX continuous disclosure rules, the board believe it is appropriate to provide this earnings update. 13

THANK YOU

• Ordinary Business: $\qquad \qquad \blacksquare$
• Presentation by Chief Executive Officer $1₁$
• Tabling & Consideration of 2005 Financial $2.$ Reports
• Remuneration Report $3.$
• Election of Directors $4.$