SEEK LIMITED — AGM Information 2013

Nov 27, 2013

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ASX Announcement

28 November 2013

Key updates from SEEK’s AGM – 28 November 2013

Key Highlights:

• SEEK re-affirms its overall SEEK Group, International and Education guidance for FY14 as provided at time of FY13 results

• Upgraded guidance for SEEK Domestic: Based on FY14 YTD ad volume trends, expect SEEK Domestic Revenue & EBITDA in FY14 to be slightly ahead of FY13

• Subject to market conditions, IDP is considering an IPO in CY14

• SEEK is well positioned for growth

SEEK Group trading update

At SEEK’s AGM held today, Andrew Bassat, SEEK’s Co-Founder & Chief Executive Officer provided an update on current trading conditions across the SEEK Group including a positive trading update on SEEK Domestic. Key highlights include:

• SEEK re-affirms all Group, International and Education (excl THINK) FY14 guidance statements made at time of SEEK’s FY13 results

• Trading conditions for SEEK Domestic have improved from previous guidance at SEEK’s FY13 results which was based on continued flat to gentle decline in ad volumes leading to FY14 Revenue & EBITDA to be moderately below FY13

• Based on the first four months of the financial year, we are observing improving trends with flat to gentle increases in ad volumes on a month on month basis. Based on these current conditions, expect Revenue & EBITDA in FY14 to be slightly ahead of FY13. If conditions improve ahead of current trends, SEEK’s FY14 results will be favourably impacted.

• Trading conditions in early January/February are important lead indicators for CY14. SEEK to provide a trading update at H1 FY14 results (February)

• If current conditions deteriorate our guidance statement above may vary

IDP considering an IPO in CY14

IDP Education today announced its intention to pursue an IPO and listing on the ASX in CY14.

In commenting on the announcement, Andrew Bassat said, “IDP Education is a very good business and has a strong management team led by CEO Andrew Thompson. IDP is well positioned for future growth across its student recruitment business in Australia and in other key markets such as the USA, UK, Canada and New Zealand as well as growth from IELTS, a leading English language testing business.”

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“SEEK is working through its intentions in regards to its shareholding in IDP Education. SEEK intends to sell a portion of its shares which will assist in facilitating liquidity for the IPO. With the proceeds, SEEK would look to redeploy capital into international online opportunities and/or return capital back to SEEK’s shareholders.”

SEEK is well positioned for growth

Based on FY14 YTD results, SEEK is performing well and positioned for growth over the medium to long-term. Andrew Bassat, commented,

“SEEK’s strong competitive position in Australia & New Zealand means it is well positioned for growth from both the structural migration of revenue from print to online and an improvement in cyclical conditions.”

“SEEK is also making strong inroads into its placement strategy which will provide a significant growth opportunity. Combining its market leadership with its placement strategy, SEEK is well placed to grow its share of placements. SEEK’s placement strategy is also highly applicable to SEEK’s international businesses.”

“SEEK International is performing well and provides a strong platform for future growth. SEEK International provides investors with exposure to fast growing emerging markets, exposure to structural trends such as increasing internet penetration, urbanisation of large populations and robust GDP growth.”

“Zhaopin intends to progress to an IPO in the near term (subject to market conditions).”

In discussing SEEK Education, Andrew Bassat, commented that, “SEEK Learning and Swinburne Online are both highly synergistic to SEEK’s Domestic business and both continue to perform well.”

For further information or to arrange an interview please contact:

Investors & Analysts John Armstrong / Jeff Tang SEEK Limited (03) 8517 4142

Media

Sarah Macartney SEEK Limited (03) 8306 0818

About SEEK Limited

SEEK Limited (ASX Code: SEK) is the leading provider of online employment services in Australia and New Zealand. In Australia, seek.com.au now hosts approximately c70% of all jobs on Australia’s major job sites. In a given month, approximately 111,000 job advertisements are posted on seek.com.au with approximately 19.7 million monthly visits (Desktop & Mobile excl app visits). In New Zealand, seek.co.nz is the leading job site in terms of job advertisements with approximately 15,000 listed in October 2013.

SEEK owns 80.1% of Zhaopin (a leading employment website in China) and c.22.0% of JobStreet (a leading employment website across SE Asia). SEEK Asia, a majority owned subsidiary of SEEK, owns 100% of JobsDB. Across Latin America, SEEK owns 56.4% of Online Career Center Mexico SA de CV (“OCC”) and 51% of Brasil Online. SEEK owns 25% of One Africa Media which operates a leading portfolio of online market places in Africa.

SEEK Education comprises fully owned subsidiary businesses SEEK Learning, 50% of IDP Education & Swinburne Online. SEEK Learning provides sales and marketing services to help people find and enrol in career related education and training. IDP is the global leader in student recruitment services and also provides English language testing services. Swinburne Online is a 50:50 partnership between Swinburne University of Technology and SEEK that will deliver premium online tertiary courses specifically designed to meet the educational needs of working Australians.

*Source: Nielsen Online Ratings, Market Intelligence Traffic Data, SEEK Count of Websites, October 2013

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This announcement contains certain “forward-looking statements”. Forward looking words such as, “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” and other similar expressions are intended to identify forward-looking statements within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this announcement are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Such forward-looking statements, opinions and estimates are not guarantees of future performance.

Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. This announcement contains such statements that are subject to risk factors associated with the markets in which SEEK operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially. Such forwardlooking statements only speak as to the date of this announcement and SEEK assumes no obligation to update such information.

No representation or warranty is or will be made by any legal or natural person in relation to the accuracy or completeness of all or part of this document, or the accuracy, likelihood of achievement or reasonableness of any forecasts, prospects or returns contained in, or implied by, the information or any part of it. To the full extent permitted by law, SEEK disclaims any obligation or undertaking to release any updates or revisions to the information contained in this document to reflect any change in expectations or assumptions.

Nothing contained in this document constitutes investment, legal, tax or other advice. You should make your own assessment and take independent professional advice in relation to the information and any action taken on the basis of the information.

Appendices - ASX Release

Notes to this release

SEEK’s results are reported under International Financial Reporting Standards (IFRS). This document also makes reference to the non-IFRS measure “EBITDA”. This measure is used internally by management to assess the performance of our business, our associates and Joint Ventures, make decisions on the allocation of our resources and assess operational management.

EBITDA

“EBITDA” is earnings before interest, tax, depreciation and amortisation and excluding share of net profits of associates and jointly controlled entities accounted for using the equity method, dividend income and amortisation of share-based payments and other long-term incentive schemes.

Review of information

Non-IFRS financial information is calculated based on underlying IFRS financial information extracted from SEEK’s financial statements. Non-IFRS measures have not been subject to audit or review.

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