SEEK LIMITED — Capital/Financing Update 2018

Dec 18, 2018

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ASX Announcement

19 December 2018

SEEK announces successful refinancing and upsizing of its syndicated loan facility

Highlights:

• New multi-currency (AUD & USD) syndicated loan facility comprising revolving and term loans

  • Revolving loan facilities (AUD & USD) with tenors of three, four and five years

  • o USD term loans with tenors of four and five years

• Strong support for the syndicated loan facility reflects strength of the business

• No change to debt covenants and pricing has not changed materially

SEEK Limited (“SEEK”) today announced the successful refinancing of its syndicated loan facility arranged by HSBC and National Australia Bank comprising revolving facilities of A$625m and US$275m, and two new term loans totalling US$300m.

SEEK received strong support which resulted in the syndicated loan facility being over-subscribed. SEEK’s new syndicated loan facility includes all 9 banks from the previous facility plus the addition of 10 banks from Canada, China, Singapore and Taiwan.

Key features of the new facilities include:

Revolving loan facilities	USD term loans	USD term loans
•Unsecured, senior debt facility	•	Fixed term, unsecured, senior debt facility
•Tranche A A$375m (3 years), Tranche B	•	Tranche D US$100m (4 years), Tranche E
A$250m (4 years), Tranche C US$275m (5		US$200m (5 years)
years)	•	Terms and conditions consistent with the
•No material changes to other key terms or		revolving loan facility
pricing from the previous facility

SEEK continues to operate comfortably within its banking covenants, with Borrower Group net debt at broadly comparable levels to 30 June 2018.[1]

In discussing SEEK’s refinancing, Geoff Roberts, SEEK Group CFO, said

“This most recent round of refinancing provides SEEK with greater flexibility and diversity in its capital structure. The addition of the new term loans has increased both the capacity and overall tenor of our debt. SEEK has a strong balance sheet and is very well placed to capitalise on both existing and new growth opportunities in the very large Human Capital Management market. SEEK received very strong support for the refinancing which is testament to its medium to long-term growth profile and cash generation.”

1 SEEK Limited Borrower Group net debt of A$806.8M at 30 June 2018 (refer Note 7, page 74 of SEEK Limited’s 2018 Annual Report)

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For further information please contact

Investor/Analyst enquiries Geoff Roberts +61 3 8517 4484

Media enquiries Sarah Macartney Phone: +61 433 949 639 Email: smacartney@seek.com.au

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 forward-looking 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.

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