SEEK LIMITED — AGM Information 2013

Nov 27, 2013

SEEK LIMITED

Annual General Meeting of Shareholders

Thursday 28 November 2013 - 3.00pm

CHAIRMAN’S ADDRESS

Ladies and Gentlemen it is my pleasure to address you today for the first time as Chairman of your company.

I first joined the Board of SEEK in 2005, and since that time the company has undergone a remarkable journey.

SEEK now has operations in 12 countries around the globe, and provides its shareholders with exposure to over 2.5 billion people and more than 20% of global GDP.

SEEK enrols about 50,000 students and provides education to another 20,000 students per annum. SEEK is providing career opportunities to millions of people, as well as education opportunities to enhance their career prospects.

SEEK is the operator of the largest online employment marketplace in the world in terms of revenue, EBITDA, NPAT and market capitalisation.

It is not just an Australian success story, it is a global success story, of which we can all be rightly proud as shareholders.

This achievement is the result of the passion, commitment and talent of our people, management and our founders. It is also a reflection of SEEK’s strong values based culture and deep commitment to a diverse and highly engaged workforce.

The drive and passion of the entire SEEK team remains strong today. This is evident in the past year with SEEK’s continued investment in Zhaopin, our China business, moving to a controlling stake during the financial year. We also increased the size of our controlling stake in JobsDB, our South East Asian business.

In addition, we invested in the African market with our acquisition of a 25% stake in One Africa Media.

SEEK’s focus on providing the best outcomes for jobseekers, hirers and students delivered a record financial result for the year to June 2013.

We had strong performances across our International and Education businesses, and the Domestic Employment business achieved a solid result despite subdued macroeconomic conditions.

Highlights of SEEK’s financial performance in 2013 included:

• 40% revenue growth to A$620.2 million;

• 24% EBITDA growth to A$239.6 million; and

• 8% NPAT growth - excluding significant items - to A$141.1 million.

Andrew will speak in greater detail about the business performance shortly.

Reflecting confidence in the Company’s outlook and its strong financial position, the Board declared a 2013 total dividend of 22 cents per share fully franked. This represented a 27% increase on 2012.

The focus of our team is to continuously improve on developing product and service offerings which deliver further value to our stakeholders. This investment will underpin our growth and the ability of the company to meet any potential future challenges.

As described in the Notice of Meeting at last year’s AGM, and as summarised in the Notice of Meeting this year, the Board introduced a new executive remuneration framework during 2013. This successfully aligns management rewards with sustainable growth in shareholder value.

I would particularly like to thank our Remuneration Committee, led by Colin Carter, and the many shareholders who provided positive input, for ensuring that the new remuneration framework reflects the Board’s aspirations and is simple, fair and transparent.

We are focused on continually enhancing our organisational culture and values, through investment in the well-being and professional development of our team, and the promotion of a wide range of employee engagement and diversity initiatives.

The Board is especially proud of the SEEK Volunteer site, which has connected thousands of volunteers with not-for-profit organisations over the past 13 years, making a tangible difference and strong contribution to the community.

In August 2012, we re-launched the SEEK Volunteer website which was supported by a major campaign to raise awareness of the site to prospective volunteers.

Following the re-launch, page views increased to over 1 million views per month and expressions of interest from potential volunteers more than doubled by July 2013.

At last year's AGM, shareholders farewelled our former Chairman Bob Watson. I am honoured to have succeeded Bob as Chairman and would like to express my thanks for his contribution over 13 years.

We also welcomed Graham Goldsmith who joined the Board in October 2012 as a non-executive director. Graham has already made a very positive contribution to the company.

The Board is continuing to review its composition with a view to enhancing its capacity and capabilities to support SEEK’s domestic and international growth.

On behalf of the Board and our shareholders, I would like to thank all of our team members across the SEEK Group for their contribution to our financial and operational success this year.

I extend my sincere thanks to our Executive Team, my Board colleagues and to Andrew Bassat for their leadership during 2013.

It is indeed fitting that just last week Andrew was recognised as the 2013 EY Australian Entrepreneur of the Year - an achievement of which the entire SEEK team is very proud.

I would also like to thank you, our shareholders, for your loyalty and continued support.