SHINE JUSTICE LTD — AGM Information 2016

Oct 19, 2016

20 October 2016

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Shine Corporate Ltd (SHJ) Chairman’s Address and Managing Director & CEO’s Address

In accordance with ASX Listing Rule 3.13.3, Shine Corporate Ltd provides the following which will be presented at its Annual General Meeting commencing at 10am today:

1. Chairman’s Address; and

2. Managing Director & CEO’s Address.

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Vicki Clarkson Company Secretary

Shine Corporate Ltd Level 13, 160 Ann Street Brisbane QLD 4000 Tel: 07 3837 9446

20 October 2016

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CHAIRMAN’S ADDRESS

SHINE CORPORATE LTD

ANNUAL GENERAL MEETING

20 OCTOBER 2016

Before Courtney presents her summary of the company’s performance over the past year and outlook for the year ahead, I would like to make a few observations of my own.

I am delighted to report the completion of the Board’s work to ensure we have the management strength to deliver sustainable results. A number of new senior executives, deliberately sought for their proven management capability, have been recruited.

Courtney Petersen was recruited as Chief Executive Officer of Shine Lawyers in early 2015, with a view to her transition to Managing Director & CEO of the Group at the appropriate time. She was appointed to the Board as an Executive Director in early 2016 and in August, the Board was delighted to announce her appointment to Managing Director & CEO.

The executive team was also strengthened with the recruitment of Jim Holding as Chief Legal Officer and Geniere Aplin as Chief Operating Officer, complementing the appointments last year of Melissa Leahy as Head of People & Culture and Daniel Wilkie as Chief Financial Officer & Company Secretary.

This forward planning is part of our well-developed succession plan for Shine’s ongoing management, including the recruitment of the best available external talent. We continue to implement executive development programs as part of our talent management program.

I would like to acknowledge the valuable contribution of Simon Morrison who transitioned from Managing Director to Executive Director in August 2016. In

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his new role he will explore growth opportunities and new initiatives to create shareholder value in our highly competitive marketplace. His continued involvement and support are also reflected in recent increases in his already significant shareholding.

I would also like to acknowledge the contribution of Stephen Roche who retired from the Board during the year, but continues to consult to the Group.

Simon and Stephen grew the firm from a single office in Toowoomba to a national firm with over 700 employees in more than 40 locations. The Board acknowledges the magnitude of their achievements and contribution.

We achieved a number of significant milestones during the year, including the celebration of our 40[th] anniversary. We continued to deliver on our promise to “right wrong” for our clients. We settled or won more than 4500 cases, procuring compensation of more than $750m for our clients.

While we celebrated these highlights, we also faced challenges. We implemented a strengthened, dynamic, actuarially based provisioning methodology. While our half-year results were adversely impacted by the resulting adjustment, we are confident in our systems and processes and have emerged stronger and more resilient.

Our full year Net Profit Before Tax result of $18.4m and Statutory Earnings Before Interest Tax Depreciation and Amortisation of $25.0m were impacted by the adjustment of provisioning levels for WIP, debtors and disbursements. Management has taken action and continues to focus its energy on improving recoverability rates across the Group.

In light of our half-year results, the Board determined not to declare an interim dividend, but was pleased to declare a final unfranked dividend in respect of the financial year of 2.5 cents per share.

We operate in a regulated environment and are subject to the effects of changes in legislation, guidelines and regulations which affect the areas of law in which we practice. Our strategy of diversifying our revenue stream is designed to lessen the impact of individual legislative reform.

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Although tort reform initiatives pose risks for our business, we have considerable experience in adapting our business model to regulatory change and have confidence in our ability to respond to such challenges.

I’d also like to take this opportunity to directly address some comments that have been made about our Remuneration Report.

Firstly, I would like to clarify that the Remuneration Committee has not and will not consider issuing Long-Term Incentives to Non-Executive Directors.

Secondly, we would like to inform you that we are continuing our work to finalise the FY17 Long-Term Incentive Plan, including performance hurdles. This is a complex undertaking and we are investing time and resources to get it right.

Over the past few years, we have sought to diversify and grow. We will continue to do so through acquisitions that meet our strategic investment criteria.

I would like to take this opportunity to thank my fellow Directors for their valuable contribution to the Company and to our shareholders for your ongoing support. I am confident that we are well positioned for the future and equipped to meet any challenges that lie ahead.

I will how hand over to the Managing Director & CEO, Courtney Petersen.

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MD & CEO’S ADDRESS

SHINE CORPORATE LTD

ANNUAL GENERAL MEETING

20 OCTOBER 2016

SLIDE – FY16 OVERVIEW

Thank you Tony. I would also like to commence by recognising the efforts of Stephen Roche and Simon Morrison who have guided this company over many years, through the listing in 2013, to the position it is in today and I feel very honoured to be offered the opportunity to lead the company going forward. I have spent most of my working life in executive roles for a number of companies (including listed companies) but I commenced my career as a lawyer and Shine’s promise to “right wrong” is close to my heart.

SLIDE – FY 16 HEADLINE RESULTS

As the Chairman touched on in his address, FY16 has been a dynamic year for the company. As the Chairman already outlined, we achieved Net Profit Before Tax of $18.4m and Statutory Earnings Before Interest Tax Depreciation and Amortisation of $25.0m. We met the revised financial guidance issued in January 2016 and declared a final dividend of 2.5c per share. Further information about our financial results is outlined in our annual report.

Our markets are highly competitive and challenging, and we have a consistent focus on working to make the business stronger and more resilient in order to address the challenges posed by ongoing headwinds. In FY16 we continued our journey of transforming Shine to achieve this. The next few slides will explain what we have done in this area and what we intend to do moving forward.

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SLIDE – TRANSFORMATION FY16 DELIVERABLES SHINE LAWYERS

Our ongoing Transformation program is all about improving the performance of our business for our clients and our shareholders. In FY16:

• We achieved a record result for our clients who, collectively, received over $750m in compensation and damages

• We added new practices in Insolvency and Transport

• We have improved the time it takes to resolve a legal matter within Shine Lawyers, which also accelerates our ability to generate cash

• We have partnered with Thomson Reuters Elite, a global best in class provider, to implement our new integrated Enterprise Legal Management System. This will enable us to leverage best practice processes and technology for managing our business and support ongoing growth and innovation.

• We launched our new Shine Lawyers marketing campaign which has driven an increase in the number of enquiries from prospective clients and improved brand awareness.

SLIDE – TRANSFORMATION – FY16 DELIVERABLES ACQUIRED SUBSIDIARIES

In October 2015, we announced the acquisition of Best Wilson Buckley Family Law, a leading specialist in the family law sector in Queensland with offices in Toowoomba and Brisbane.

In September 2016, we acquired the remaining stake in Risk Worldwide NZ, our insurance loss advisory business operating in Christchurch. Risk Worldwide NZ is now a wholly owned subsidiary of the company.

As the Chairman touched on in his address, we made an adjustment to our provisioning methodology in January. This resulted in a $17.5m adjustment to our first half earnings and a revision to our EBITDA guidance for the full year. Although this was a necessary adjustment, it was a difficult chapter in the company’s history.

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With the new provisioning methodology now in place, we are focused on improving the amount of our Work in Progress or WIP that will be recovered. Some of the ways in which we are doing this include:

• working to ensure that the optimal number of files are allocated to each fee-earner; and

• continuing to improve the way we select cases so that we pursue those matters which are most likely to result in a win for our client, and therefore, a fee for Shine.

SLIDE – TRANSFORMATION FY17 PRIORITIES

Our journey of transforming Shine to improve performance will continue in FY17. Some of our priorities for this financial year include:

• Improving recoverability of WIP and disbursements

• Continuing to champion our clients, for example by highlighting the impact of proposed compulsory third party reforms in NSW and advocating for legislative improvements for victims of abuse

• Leveraging litigation and disbursement funding to improve our cash flow, where available

• Implementing our new IT System (which I spoke about earlier) and

• Executing phase 2 of our marketing strategy

SLIDE – OUTLOOK

The FY17 outlook remains challenging for the legal market, particularly in relation to the Personal Injuries and Energy sectors. We will be monitoring the impact of recent and proposed legislative reforms, in particular CTP reforms in New South Wales and the wind-back of WorkCover reforms in Queensland.

We expect to be able to deliver an improvement in the amount of WIP we recover by continuing to refine our operating model. This year, we are focused on working hard to improve in recoverability in Shine Lawyers. We continue our work to build a company which can deliver sustainable results year on year into the future.

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We will also continue to seek ways to add greater value for shareholders by growing the business, both organically and through new acquisitions in the:

• Personal Injury;

• Emerging Practice Areas; and

• expanded loss resolution market including insurance loss advisory

• services.

On that note, I am pleased to advise that we plan to open a new office in Joondalup in WA under the Stephen Browne brand before Christmas.

I would now like to hand back to the Chairman to commence the formal proceedings of the meeting.

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SHINE CORPORATE LTD ANNUAL GENERAL MEETING

20 OCTOBER 2016

ABN 93 162 817 905

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FY16 OVERVIEW

COURTNEY PETERSEN MANAGING DIRECTOR & CEO

FY16 HEADLINE RESULTS

$m	FY16 Results
Total Revenue	$151.5m
Net Profit Before Tax(NPBT)	$18.4m
Net Profit After Tax(NPAT)	$14.8m
Earningsper share(EPS)	8.6c
Statutory EBITDA1	$25.0m
Gross Operating Cash Flow2	$18.8m
Net Debt to Equity Ratio	10.9%
Final dividend per share	2.5 cents per share

1. EBITDA means Earnings Before Interest Tax Depreciation and Amortisation. FY16 Statutory EBITDA is not a calculation which appears in the Financial Statements and, accordingly, has not been audited.

2. Gross Operating Cash Flow is not a calculation which appears in the Financial Statements and, accordingly, has not been audited.

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TRANSFORMATION FY16 DELIVERABLES – SHINE LAWYERS

STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE
> Record fees billed > Improved file velocity > Succession planning and retention strategy	> Strengthened governance and risk management capabilities > Implemented dynamic, actuarially based provisioning methodology	> DePuy class action settlement > Record compensation for clients	> Established Insolvency and Travel practices > Engine Room Program on track	> Successful new marketing campaign > Expanded Disability & Super practices beyond Shine Lawyers

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TRANSFORMATION

FY16 DELIVERABLES – ACQUIRED SUBSIDIARIES

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Risk Worldwide NZ

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TRANSFORMATION FY17 PRIORITIES

STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE	STRENGTHEN SHINE PROTECT SHINE CHAMPION THE CLIENT INNOVATE SHINE GROW SHINE
> Refined operating model > Improving recoverability > Commitment to a high performing culture in line with our values	> Improved vendor and contract management > Optimise disbursement and key category spend > Address potential NSW CTP Reforms > Legislative improvements for victims of abuse	> Client onboarding, case selection and allocation > Increase use of litigation and disbursement funding	> Implement Enterprise Legal Management System > Deliver interactive client portal	> Stronger focus on growing Emerging Practice Areas > Continue to seek value accretive acquisitions > Improve marketing effectiveness

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EXPECTATIONS FOR OPERATING OUTLOOK

Legal market challenging in the Personal Injuries and Energy sectors

Monitoring potential impact of legislative reform

Targeting steady improvement in recoverability

Seek value accretive opportunities for growth

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END SLIDE