SEEK LIMITED — Capital/Financing Update 2012

Dec 20, 2012

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ASX Announcement

21 December 2012

SEEK Asia to acquire remaining stake in JobsDB

SEEK today announced that its subsidiary, SEEK Asia Limited (SEEK Asia), will acquire the remaining 20 per cent stake in JobsDB, after JDB Holdings Limited exercised its option to sell its remaining interest in the company. This will take SEEK Asia's holding of JobsDB to 100 per cent and SEEK's holding to 68.96 per cent.

Under the terms of the original shareholders’ agreement, the value of the option was to be determined by reference to Jobs DB earnings, with the purchase price capped at HK$640 million. The final value has been determined at HK$640 million (approximately A$78.8 million)*.

The co-investors in SEEK Asia have contractually agreed to fund their share of the purchase price and SEEK's share is HK$441 million (approximately A$54 million), in line with its 68.96 per cent ownership interest in SEEK Asia.

SEEK will fund its share of the purchase price through a combination of utilising some of its existing syndicated debt facility, that has recently increased to a total of A$450 million, and funding through debt within SEEK Asia. The transaction will be completed by 20 March 2013.

SEEK advises there is no change to guidance on JobsDB as presented at the SEEK Annual General Meeting on 29 November 2012.

• calculated at an exchange rate of HKD$1 = A$0.1232 (mid-market rates on 20-12-2012)