TECHNOLOGY ONE LIMITED — AGM Information 2011

Feb 17, 2011

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1. _ __ _ _ __ Click to edit Master text styles Technology One Ltd Annual General Meeting Second level Third level11 _ __ 18 February 2011 - Technology One Ltd (ASX:TNE) today conducted it’s Annual General Meeting at the Brisbane Convention Centre. Fourth level _ ___ The attached presentation was given at this meeting by the company’s Fifth level Executive Chairman, Mr Adrian Di Marco. _ __ These slides are also available on the company’s web site: . www.TechnologyOneCorp.com

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Annual General Meeting Presentation
18 February, 2011
Year Ending September 2010
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Adrian Di Marco Executive Chairman

www.TechnologyOneCorp.com Commercial in confidence February 2011

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Agenda
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 Overview

1.  _ __ _ _ __ ______ Click to edit Master text styles 2010 Results Second level _ ___  Strategic Initiatives Third level33 _ __  Outlook for Full Year Fourth level _ ___  Long Term Outlook

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TechnologyOne Overview
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• TechnologyOne develops, markets, sells, implements and supports a new generation

• 1. _ __ _ _ __ ______ Click to edit Master text styles enterprise solution specifically targeted at Second level

• _ ___ seven vertical markets: • Third level44 Local Government

• _ __ • Fourth level Government (State, Central & Federal)

• _ ___ • Education Fifth level

• _ __ • Financial Services

• Health, Community Services and Not for Profit

• Utilities

• Managed Services

  • Media/Entertainment

  • Property and Construction

  • Mining and Exploration

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TechnologyOne Overview
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Our enterprise solution consists of the following : products 1.  _ __ _ _ __ ______ TechnologyOne Financials Click to edit Master text styles  Enterprise TechnologyOne Asset Management Second level Budgeting _ ___  TechnologyOne Supply Chain Third level55

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Business
Intelligence
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Financials
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Management
Enterprise
Content
Management
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Rating
Customer
Relationship
Management
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• TechnologyOne Human Resource & Payroll Fourth level

• _ ___  TechnologyOne Corporate Performance Management •

• Fifth level TechnologyOne Business Intelligence

• _ __

  • TechnologyOne Budgeting & Forecasting

  • TechnologyOne Performance Planning

• TechnologyOne Enterprise Content Management (ECM)

• TechnologyOne Customer Relationship Management (CRM)

• TechnologyOne Student Management

• TechnologyOne Property & Rating

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TechnologyOne Overview
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• One of Australia’s largest software houses, specialising in the research,

• 1. _ __ _ _ __ ______ Click to edit Master text styles development and commercialisation of Second level

• _ ___ software

• _ __ Third level66 Offices in Australia, New Zealand,

• _ ___ Asia and, more recently, the United Fourth level Kingdom Fifth level

• _ __

• Growing business in the United Kingdom

• Major supplier of enterprise applications in ANZ – 900+ major corporations, government departments and statutory authorities

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900+ High Profile Customers

1. _ __ _ __ Click to edit Master text styles Second level Third level77 _ __ Fourth level _ Fifth level _____

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TechnologyOne Overview
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 Sell ‘best practice’ preconfigured 1. _ __ _ _ __ ______ Click to edit Master text styles solutions for our seven vertical Second level _ ___ markets to reduce time, cost & risk for our customers Third level88 _ __  About to commence development of Fourth level _ ___ the next generation of our enterprise Fifth level _ __ suite – Technology One Cloud Computing Suite (C2)

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What Makes Us Different
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 Power of One business model

• We build, market, sell, implement & support our range of products 1. • _ __ _ _ __ ______ Click to edit Master text styles We ‘own’ the customer relationship Second level  _ ___ Enterprise Vendor • Third level99 _ __ Significant benefits to our customers versus ‘best of breed’ Fourth level  _ ___ Vertical Market focus • Fifth level _ __ We focus on specific markets, and our software is ‘fine tuned’ for these markets

 Our Preconfigured Solutions

• We deliver total ‘end to end solutions’ preconfigured for our target vertical markets, reducing time, cost & risk of implementation for our customers

• Our Connected Intelligence series of business applications

• First new generation enterprise suite delivered in the last 10 years

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What Makes Us Different
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 Diversity of revenue streams 1. _ __ _ _ __ ______ Click to edit Master text styles • Geographies – _ ___ Second level All states of Australia, New Zealand, Asia and more recently UK

• Third level1010 Products _ __ – Financials, Human Resource & Payroll, Supply Chain, Asset Management, Mobility, Property & Rating, Student Fourth level Management, Business Intelligence, Enterprise Budgeting, Performance Planning, ECM, and CRM. _ ___ • Vertical markets – Fifth level Local Government, State/Federal Government, Higher Education, Financial Services, Health & Community _ __ Services, Utilities, Managed Services

 Strong, very loyal blue chip customer base

• We provide a mission critical solution

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Agenda
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 Overview 1. _ __ _ _ __ ______ Click to edit Master text styles  2010 Results Second level _ ___  Strategic Initiatives Third level1111 _ __  Outlook for Full Year Fourth level _ ___  Long Term Outlook

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2010 Full Year Results	2010 Full Year Results
	_ __ _ _ __ ______ 1. Click to edit Master text styles
	_ ___ Second level
	_ __ Third level1212
	_ ___ Fourth level
	_ __ Fifth level
	Net Profit Before Tax $23.3m, up 15%	(up $3.0m)
	Net Profit After Tax $17.8m, up 14%	(up $2.1m)
	Revenue $135.8m, up 11%	(up $13.4m)
	Total Expenses $112.6m ,up 10%	(up $10.3m)
	Expenses excluding R&D $85.6m, up 11%	(up $8.2m)
	R&D expenses $27.0m ,up 8%	(up $2.1m)
	 R&D expenses as a % of revenue is 20.0% (vs.	20.3% last year)

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2010 Full Year Results
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Results Highlights

 1. Continuing demand for our products: 10% increase in licence fees _ __ _ _ __ ______ Click to edit Master text styles  Cost Growth Control initiatives continuing to work well: expenses up 10% vs up 17% last year _ ___  Second level Did not impact our business – all staff retained and all R&D projects continued  Third level1313 _ __ Continued significant investments were made in excess of $10m, as follows:  Fourth level To build our United Kingdom business _ ___  To build our Human Resource & Payroll product Fifth level _ __  To build our new CRM product

 To build our new ECM Ci product

 To build our new Performance Planning Ci product

• New solutions group

 These investments did not contribute this year but will drive growth in the next few years – discussed later

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2010 Full Year Results
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Results Highlights (continued) 1. _ __ _ _ __ ______ Click to edit Master text styles  R&D was 20% of revenue vs historical average of 18%, which was $2.8m additional expense Second level _ ___  PNG Consulting Project (USD contract) impacted by strongly depreciating US dollar. Directly Third level1414 _ __ reduced our Profit by $750k. Without this Profit Before Tax would have been up 18+%. Fourth level _ ___  New R&D Centre was an additional $2.5m net expense in 2010 Fifth level*

*assumes a consistent currency to prior year

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2010 Full Year Results
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1.
_ __ _ _ __ Click to edit Master text styles
Second level

Third level1515
_ __
Fourth level
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• _ ___

• Balance sheet strong _ __  Fifth level Cash and equivalents*: $36.6m

• Bank overdraft facility of $7m

• Debt/Equity: 4.6%

• Net Assets are $63.4m

• Operating Cash Flow positive $31.5m

(vs $30.5m pcp) (which is not drawn) (vs 4.8% pcp) (vs $57.1m pcp) (vs Profit After Tax of $17.8m)

• Interest Cover is 43 times

• Transparency of results – all R&D fully expensed

• *Includes short term investments of $3.9m

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2010 Full Year Results
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Dividends for this year

 Half 1 1.33 cps up 51% (paid) 1. _ __ _ _ __ ______ Click to edit Master text styles  Half 2 2.87 cps line ball (declared) Second level _ ___  Sub Total 4.2 cps up 12% Third level1616 _ __  Special Dividend 1.5 cps up 100% (declared) Fourth level _ ___  Total Dividend 5.7 cps up 52% Fifth level _ __  Yield of 6%** fully franked

The Board will continue to consider paying a Special Dividend in future years if cash reserves remain high, growth continues as is expected and there is no compelling alternative use for the cash reserves.

** based on share price of 95 cents

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Agenda
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 Overview 1. _ __ _ _ __ ______ Click to edit Master text styles  2010 Results Second level _ ___  Strategic Initiatives Third level1717 _ __  Outlook for Full Year Fourth level _ ___  Long Term Outlook

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Agenda
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1. _ __ _ _ __ Strategic Initiatives Click to edit Master text styles Second level  House of Solutions Third level1818 _ __  Compelling Customer Experience Fourth level _ ___  NextGen Fifth level _ __  New R&D Centre

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House of Solutions
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House of Solutions

 Build, demonstrate, sell and implement a ‘best practice, preconfigured out of 1. _ __ _ _ __ ______ the box’ solution for our key vertical markets Click to edit Master text styles  Second level _ ___ Change our approach from ‘tell us what you want and we will build it’ to Third level1919 _ __ ‘this is best practice and how do you want to change it?’  Fourth level _ ___ Reduce time, effort, cost and risk Fifth level _ __ Early trial in ACT „OneFMA‟ – delivered $3+m in licences & services

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House of Solutions
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Significant Benefits

• See, touch & feel the solution from the very start

• 1. _ __ _ _ __ ______ Click to edit Master text styles of the engagement

• Second level

• _ ___  Support consultative selling approach

• Third level2020

• _ __ Fourth level  Better & more focused collateral for the sales

• _ ___ team

• Reduce time, cost, effort & risk for the customer

• Improve our efficiencies from marketing, sales, implementation & support

• Strong history & deep understanding of our markets

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House of Solutions
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$2m investment this year

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 Operating Officer for Solutions & Products 1. _ __ _ _ __ ______ Click to edit Master text styles appointed Second level _ ___  New Solution Group established – 15 people Third level2121 _ __ • Consultants, Solution Architects, Solution Managers Fourth level etc. _ ___  Fifth level _ __ Solution Branding finalised – OneAirport, OneCouncil etc.

• First solutions shipped

• OneAirport solution live at Newcastle Airport

• OneCouncil solution being implemented at Hurstville

• ‘OneSolutions’ are being released progressively

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OneSolutions
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OneSolutions
Nine Solutions so far...
_ __ _ _ __ ______ 1. Click to edit Master text styles  Government Aus (OneGovernment Aus)		Done	(High Court)
_ ___ Second level  Government NZ	(OneGovernment NZ)	Done	(Reserve Bank NZ)
_ __ Third level2222  Local Government  Utilities – Airports	(OneCouncil) (OneAirport)	Done Done	(Hurstville) (Newcastle Airports)
_ ___ Fourth level  Grants Management (OUT)	(OneGrant - Out)	Done	(City of Melbourne)
_ __ Fifth level  H&CS – Community Housing	(OneHousing)	Done	(St George Housing)
 Community Engagement	(OneCommunity)	Done	(Disability Trust)
 Utilities – Power Generators	(OneEnergy)	Q1 2011	(MainPower)
 H&CS – Health Boards & Hospitals (OneHealth)		Q2 2011	(Epworth Hospital)

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OneSolutions
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Eight more solution to follow ...

 1. Grants Management (IN) (OneGrant – In ) _ __ _ _ __ ______ Click to edit Master text styles  H&CS – Not for Profit (OneNFP) Second level _ ___  H&CS – Research Institutes (OneResearch) Third level2323  Utilities – Ports (OnePort) _ __ Fourth level  Utilities – Water (OneWater) _ ___  Higher Education (OneUniversity) Fifth level _ __  Banking (OneBank)  Services (OneServices)

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Agenda
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1. _ __ _ _ __ ______ Strategic Initiatives Click to edit Master text styles Second level  _ House of Solutions Third level2424 _ _____  Compelling Customer Experience Fourth level _ ___  NextGen Fifth level _ __  New R&D Centre

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Compelling Customer Experience
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Customer retention is critical to our future 1. success _ __ _ _ __ ______ Click to edit Master text styles

• Complexity of our business has increased substantially over last 10 years

• Our focus is to give our customers a compelling customer experience

• Built our own training program for our staff

• Compelling Customer Experience program

• Compelling Customer Experience program roll out has now started...

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**

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Compelling Customer Experience
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Compelling Customer Experience Program roll out has now started...

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1.  _ __ _ _ __ ______ Click to edit Master text styles The customer is King & their perception is reality! Second level _ ___  New Attitude & Behaviours... Third level2626 _ __ • ‘I care and I can always do something’ • Fourth level _ ___ Every time I interact with a customer it’s an opportunity to Fifth level deliver a Compelling Customer Experience

• Committed to re-engineer our systems & processes – takes time

• Customers are now the compass for our decisions

• Staff empowered to make decisions for customers

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Compelling Customer Experience
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We see ourselves as no longer just a Software company, we are a 1. _ __ _ _ __ Click to edit Master text styles „Compelling Customer Service‟ company Second level  ‘Every time we interact with a customer is an opportunity to provide a Third level2727 _ __ compelling customer experience’ Fourth level _ Fifth level _ _____ Compelling Customer Service - you will never hear Sap, Oracle & Microsoft talk about this

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Agenda
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1. _ __ _ _ __ ______ Strategic Initiatives Click to edit Master text styles Second level  _ House of Solutions Third level2828 _ _____  Compelling Customer Experience Fourth level _ ___  NextGen Fifth level _ __  New R&D Centre

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Significant Achievements
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NextGen – our next generation suite of products

• 1. Seven years since we delivered our current _ __ _ _ __ ______ Click to edit Master text styles generation product Ci to the market Second level

• _ ___ • Ci has been critical to our success Third level2929

• _ __

• Utilise new & emerging technologies to increase Fourth level

• _ ___ our competitive advantage Fifth level

• _ __

• Research over last 3 years on our Next Generation product (NextGen)

• Significant progress has been made

• Will position us as a leader in future years

• Capitalise on emerging trends in IT industry

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NextGen
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Emerging Trends..  1. _ __ _ _ __ ______ Mobile computing – wireless laptops, smart phones Click to edit Master text styles  _ ___ Second level Social Networking / Collaboration eg Facebook Third level3030  _ __ iExperience – iPad, iPhone … Fourth level  _ ___ Touch Fifth level  _ __ Next big thing ...

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NextGen
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“Cloud Computing” 1. _ __ _ _ __ ______ Click to edit Master text styles

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NextGen
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There is no more NextGen.....

There is only ...... 1. _ __ _ _ __ Click to edit Master text styles TechnologyOne Cloud Computing Suite Second level Third level3232 _ __ TechnologyOne C2

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TechnologyOne C2 Suite
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These devices become the „appliances‟ that plug into the TechnologyOne 1. _ __ _ _ __ ______ Click to edit Master text styles Cloud Computing Suite Second level

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TechnologyOne C2 Suite
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TechnologyOne C2 suite 1.  _ __ _ _ __ ______ Click to edit Master text styles Built on the Cloud for the Cloud Second level _ ___  Tightly architectured & strictly layered so all our Third level3434 _ __ design goals are met Fourth level _ ___  Simple & easy migration for our customers to C2 Fifth level

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TechnologyOne C2 Suite
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Timeline ..

 1. _ __ _ _ __ ______ Click to edit Master text styles Architecture, Proof Of Concepts & Project Second level _ ___ Plans being finalised over next 3 months  Third level3535 _ __ Will be progressively released from late 2011 to 2014 Fourth level _ ___  Fifth level _ __ Target - R&D as a percentage of revenue to remain approx 20%

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Agenda
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1. _ __ _ _ __ ______ Strategic Initiatives Click to edit Master text styles Second level  _ House of Solutions Third level3636 _ _____  Compelling Customer Experience Fourth level _ ___  NextGen – TechnologyOne C2 Suite Fifth level _ __  New R&D Centre

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New R&D Centre
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New R&D centre in Brisbane

• 1. Opened our new R&D centre in Fortitude _ __ _ _ __ ______ Click to edit Master text styles Valley Second level

• _ ___  Increase innovation, collaboration & creativity

• Third level3737

• _ __ Attract the best & brightest young people  Appeal to ‘GenY’ and ‘GenZ’ (internet Fourth level

• _ ___ generation) Fifth level

• _ __  Important in the development of our new C2 product

• Cast a long shadow to better position against Oracle & Sap

• Impact was an additional $2.5m net expense in 2010 year

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Agenda
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1. _ __ _ _ __ ______ Strategic Initiatives Click to edit Master text styles Second level  _ House of Solutions Third level3838 _ _____  Compelling Customer Experience Fourth level _ ___  NextGen – TechnologyOne C2 Suite Fifth level _ __  New R&D Centre

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Agenda
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 Overview 1. _ __ _ _ __ ______ Click to edit Master text styles  2010 Results Second level _ ___  Strategic Initiatives Third level3939 _ __  Outlook for Full Year Fourth level _ ___  Long Term Outlook Fifth level

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Outlook for Full Year
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Expenses growth biggest challenge in 2011 1. _ __ _ _ __ ______ Click to edit Master text styles  Second level Expense growth to be approx 14% in 2011 _ ___  Third level4040 Revised up from 10% _ __  Substantial increase in Project Services Revenue over budget Fourth level _ ___ (which has associated head count increases) Fifth level _ __  Pressure from our new C2 initiative building

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Outlook for Half Year
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Expense Growth in Half 1 is also a 1. _ __ _ _ __ Click to edit Master text styles significant challenge Second level  Expense growth to be disproportionally Third level4141 _ __ high in Half 1 at 19% approx Fourth level _ ___  By end of Half 2 expense growth will be Fifth level _ __ 14% approx

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Outlook for Full Year
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 1. Continuing growth in Licence Fees in 2011 _ __ _ _ __ ______ Click to edit Master text styles  Second level _ ___ Good pipeline of opportunities for 2011  Third level4242 _ __ Sales Pipeline to end of Q3 is now qualified Fourth level _ ___  Currently working on Sales Pipeline to end of Q4 Fifth level

• _ __  Pipeline supports increase in full year expenses to 14%

• Full Year - Profit growth expected to continue in the 2011 financial year

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Outlook for Full Year
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Challenges for 2010 / 2011 Year

• 1. _ __ _ _ __ ______ Salary pressures Click to edit Master text styles Second level

• _ ___ Existing initiatives - Solutions Group, Compelling Customer Experience Third level4343

• _ __

• Round off existing products – ECM, Human Resource & Payroll, Asset Fourth level

• _ ___ Management, CRM Fifth level

• _ __ United Kingdom – market remains challenging, and further exacerbated because TechnologyOne is a new entrant

• New initiatives - TechnologyOne Cloud Computing suite (C2)

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Agenda
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 Quick Overview 1. _ __ _ _ __ ______ Click to edit Master text styles  2010 Results Second level _ ___  Strategic Initiatives Third level4444 _ __  Outlook for Full Year Fourth level _ ___  Long Term Outlook Fifth level

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Long Term Outlook
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Improved Profit Margin

• 1. _ __ _ _ __ ______ Click to edit Master text styles Profit margin has contracted over the last 10 years as we have Second level

• _ ___ expanded our product range, Third level4545

• _ __ invested in Ci, extended our Fourth level

• _ ___ management structure (e.g. Fifth level

• _ __ House of Products) and invested in the UK

• Profit margin now stabilised

• Focus is to substantially improve margins over next 5 years

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Long Term Outlook
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Improved Product Contribution

 We have invested heavily in our 1. _ __ _ _ __ ______ Click to edit Master text styles new products over the last 10 Second level years _ ___  Third level4646 _ __ Opportunity to substantially grow the contribution to profit by other Fourth level products over the next 5 years: _ ___ Fifth level • _ __ ECM

70% Profit Contribution from Financials/CPM

• Property & Rating

• Asset Management

• Human Resource & Payroll

• CRM

62% L/Fee Contribution from Financials/CPM

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Long Term Outlook
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Improved Regional Contribution 1. _ __ _ _ __ ______ Click to edit Master text styles  Opportunity to substantially Second level _ ___ grow licence fees over next Third level4747 _ __ 5 years as follows: _ ___ • UK – we have invested Fourth level heavily over the last few years Fifth level _ __ • NSW

• New Zealand

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Long Term Outlook
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• Power of One – unique approach to build, market, sell, implement and support our products

• Enterprise Vision – one of a few companies globally with an enterprise solution 1. _ __ _ _ __ ______ Click to edit Master text styles

• Connected Intelligence – our new generation enterprise solution Second level _ ___

• Vertical Markets Focus – focus on seven key markets and our deep industry knowledge Third level4848 _ __

• Aggressive R&D Program – expand our product range Fourth level _ ___

• Fifth level

• Acquisitions – expand our product range and our customer base _ __

• Our Large Customer Base – opportunities to cross sell our expanding product range

• Geographical Expansion – United Kingdom has significant longer term growth

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48

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Long Term Outlook
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 Pipeline of Products – at various stages of maturity, which we will continue to harvest  Pre-configured Solutions – reduce time, effort, risk and increase penetration in our markets 1. _ __ _ _ __ ______ Click to edit Master text styles  Our Compelling Customer Experience program _ ___ Second level  Third level4949 TechnologyOne Cloud Computing – position us as a continuing leader in innovation & _ __ technology Fourth level

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49

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Annual General Meeting Presentation
18 February, 2011
Year Ending September 2010
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Adrian Di Marco Executive Chairman

www.TechnologyOneCorp.com Commercial in confidence February 2011

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