Seek Limited · ASX:SEK
Seek — Investor Day (May 2025)
54 slides from Seek's investor day presentation, May 21, 2025
Slide 1: Investor day
SEEK LIMITED Investor day 21 May 2025
Slide 2: Disclaimer
Disclaimer The material in this presentation has been prepared by SEEK Limited ABN 46 080 075 314 (“SEEK”). Presentation Such forward-looking statements only speak as to the date of this presentation and SEEK assumes no Includes general background information about SEEK’s activities, current as at t
Slide 3: Acknowledgement of Traditional Custodians
SEEK acknowledges the Traditional Custodians of the lands on which it operates. We extend this acknowledgement to all First Nations peoples across the Asia-Pacific region in which SEEK is proud to operate. We pay respects to their rich cultures, to Elders past and present, and the continuing custodi
Slide 4: Agenda
Agenda SEEK Break today Customer Asia voices overview Product Operating strategy leverage Product Q&A demos 3
Slide 5: Who you will hear from today
Who you will hear from today Ian Narev Kendra Banks Simon Lusted Managing Director and Chief Financial Officer Group Executive, Executive Chief Executive Officer Product Leadership Team Grant Wright Peter Bithos Group Executive, Group Executive, Artificial Intelligence Commercial Narelle Charity Jes
Slide 6: Trading update
OUTLOOK Trading update FY25 revenue and earnings likely to be in the top half of guidance ranges FY25 guidance Update Revenue ~$1.06bn – $1.10bn Likely to be in the top half of range Total expenditure ~$750m – $770m Unchanged EBITDA ~$440m – $470m Likely to be in the top half of range Adjusted Profi
Slide 7: SEEK today
SEEK today Ian Narev Chief Executive Officer 6
Slide 8: Key takeaways
SEEK TODAY Key takeaways Strong Our investments to date have built a strong foundation for growth with foundations leading market positions, a well-established customer franchise and a in place scalable platform Significant Significant growth opportunities exist in the core business to continue grow
Slide 9: SEEK is the leading employment marketplace in APAC
SEEK TODAY SEEK is the leading employment marketplace in APAC Market Trusted Customer Product Platform strength brands relationships innovation and data AU NZ ~250m scalable platform unique candidate visitors p.a. HK TH proprietary data MY SG PH ID 17% ~360k New Zealand yield growth differentiated 9
Slide 10: Focused on growing placements and yield, and delivering operating leverage
SEEK TODAY We are focused on growing placements and yield, and delivering operating leverage Growing Growing Operating placements yield leverage Revenue growth above cost growth: Placement share: Yield growth: Mid to high single digit Grow leadership position High single digit growth cost growth thr
Slide 11: Our unified platform is exceeding expectations
SEEK TODAY Our unified platform is exceeding expectations 5x increase in experimentation rate; 3x increase in Product development rate of product releases New product Shift to APAC organisation structure across SEEK development and scale Scale efficiencies has reduced duplication and accelerated lea
Slide 12: Placements and yield are growing
SEEK TODAY Growing Growing placements yield Placements and yield are growing Placement share1 Australia Asia 35.4% 34.8% 29.3% 30.8% 23.8% 23.2% 23.5% 25.6% H1 23 H1 24 H1 25 Q3 25 H1 23 H1 24 H1 25 Q3 25 Yield ANZ Asia $321 28% 24% 19% 11% 13% $125 8% 10% -1% FY22 FY23 FY24 H1 25 FY22 FY23 FY24 H1
Slide 13: We have significant growth opportunities if we execute well
SEEK TODAY Growing Growing We have significant growth opportunities if we placements yield execute well Placement opportunity Yield opportunity Yield opportunity Convert more roles on SEEK into Deepen and expand our hirer Align our price to value and successful placements relationships reduce total
Slide 14: SEEK's purpose
SEEK’S PURPOSE We help people live more fulfilling and productive working lives and help organisations succeed. 13
Slide 15: Customer voices
Customer voices 14
Slide 16: Candidates and hirers choose us first when we meet their core needs
CUSTOMER VOICES Candidates and hirers choose us first when we meet their core needs How SEEK is meeting customer needs across APAC Candidate Hirer • Confidence you are seeing every • Confidence you are reaching all relevant opportunity relevant candidates • Smarter discovery tailored to you • Find a
Slide 17: Product strategy
Product strategy Simon Lusted Group Executive, Product 16
Slide 18: We grow placements and yield by improving how we engage, match, and monetise
PRODUCT STRATEGY Growing Growing placements yield We grow placements and yield by improving how we engage, match, and monetise Personalised Hirer access experiences Outcomes: Placements and Yield Outcome based Better matches pricing Automated Marketplace trust placement Enablers Proprietary data Dif
Slide 19: Our placement strategy focuses on improving placement rates and quality
PRODUCT STRATEGY Growing placements Our placement strategy focuses on improving placement rates and quality Product Personalised experiences Better matches Marketplace trust focus Improve targeting and Verify identity, credentials and Use AI to tailor experiences to Aim explaining matches with profe
Slide 20: We can still grow placements materially
PRODUCT STRATEGY Growing placements We can still grow placements materially Opportunity Progress Convert more roles on SEEK into We are expanding our reach to Product focus successful placements more candidates, more often SEEK role coverage and conversion Applications by experience Keep people conn
Slide 21: Our yield strategy focuses on attracting more hirers and aligning price with success
PRODUCT STRATEGY Growing yield Our yield strategy focuses on attracting more hirers and aligning price with success Product Hirer access Outcome based pricing Placement automation focus Use AI to predict placement Use automation to improve Make it easier for hirers to use Aim outcome and set price l
Slide 22: We are making it easy for hirers to use SEEK for every role
PRODUCT STRATEGY Growing yield We are making it easy for hirers to use SEEK for every role Hirer access Hirer opportunity Progress Deepen and expand our hirer We are capturing more job Product focus relationships opportunities by removing barriers SEEK hirer penetration1 Freemium rolling out as expe
Slide 23: Our AI pricing platform is increasingly optimised for performance and hirer ROI
PRODUCT STRATEGY Growing yield Our AI pricing platform is increasingly optimised for performance and hirer ROI Outcome based pricing Yield opportunity Progress Align our price to value and Each launch strengthens our pricing Product focus reduce total cost to hire capability and unlocks more value C
Slide 24: Using automation to reduce hirer effort and lift placement success
PRODUCT STRATEGY Growing yield And we are using automation to reduce hirer effort and lift placement success Placement automation Yield opportunity Employment marketplaces have the scale, data and capability Automating steps to reshape the recruitment value pool Scheduling Estimated recruitment expe
Slide 25: Giving hirers more ways to attract, assess, and hire with confidence
PRODUCT STRATEGY Growing yield We are giving hirers more ways to attract, assess, and hire with confidence Job ads Ad enhancements NEW NEW NEW Core product Lite2 Basic Advanced Premium Branding Urgently More to and hiring badge come… add-ons1 $85 Free $455 $585 $975 $85 Prices are indicative only fo
Slide 26: Executing our product strategy well will unlock a significant growth opportunity
PRODUCT STRATEGY Executing our product strategy well will unlock a significant growth opportunity Growing Growing yield placements Grow our leadership position Deliver high single digit yield growth • Higher candidate engagement • More hirers on platform • More, higher quality matches • Outcome base
Slide 27: Product demos
Product Product Demos demos 26 Narelle Charity Jesse Stratford Xavier Russo Grant Wright Hirer Candidate Trust Artificial Intelligence
Slide 28: Product demos will focus on three experiences
PRODUCT DEMOS Product demos will focus on three experiences Hirer Candidate Trust Hirer Candidate Marketplace trust Ad products and Personalised experiences and Verified identity and AI ad writing better matches workplace credentials • Ad selection • Search • Hirer verification • Value • Recommendat
Slide 29: Meet Li
PRODUCT DEMOS Meet Li Hirer Hirer Ad products and AI ad writing • Ad selection • Value communication • Fully expressed requirements • Candidate management Paul • Fitness entrepreneur in Melbourne • Plans to scale fitness chain across Australia and into Asia • Hiring for an Operations Manager in Melb
Slide 30: We have fundamentally upgraded our ad tiers
PRODUCT DEMOS Hirer We have fundamentally upgraded our ad tiers and set the foundation for future innovation NEW NEW Lite Basic Advanced Premium (Asia only) Find candidates For non-urgent, Enhanced targeting Top performing ad with lower priority entry level roles for more high-fit for critical and N
Slide 31: Differentiated ad tiers and clear ROI for hirers are showing up in FY25 yield growth
PRODUCT DEMOS Hirer Differentiated ad tiers and clear ROI for hirers are showing up in FY25 yield growth Progress highlights1 Jan 2023 to Jan 2025; ANZ All 8 markets 3x 13% 24% with job share placement advanced more high fit growth awareness ad tier applications in penetration2 premium ads 1st Hirer
Slide 32: AI is the engine behind our improved targeting and dynamic pricing
PRODUCT DEMOS Hirer AI is the engine behind our improved targeting and dynamic pricing capability SEEK AI focus High fit prediction Price and performance and targeting management 31
Slide 33: Meet Paul
PRODUCT DEMOS Meet Paul Candidate Candidate Personalised experiences and better matches • Search • Recommendations and nudges • Fully expressed intent • Credential verification • Business manager candidate in Melbourne with over 8 years of accounting experience • Seeking a role in fitness or sports
Slide 34: Deep candidate engagement is driving better matches and more placements
PRODUCT DEMOS Candidate Deep candidate engagement is driving better matches and more placements Progress highlights Jan 2023 to Jan 2025; ANZ +18% +40% +25% +63% unique visitors visits unique visitor applications apply rate Broader Deeper Better More reach engagement matches placements Similar impro
Slide 35: AI is powering our candidate experiences
PRODUCT DEMOS Candidate AI is powering our candidate experiences SEEK AI focus Elicit and understand Personalised matching Explainability intent 34
Slide 36: Li and Paul create a trusted connection
PRODUCT DEMOS: TRUST Li and Paul create a trusted connection Hirer Trust Marketplace trust Verified identity and workplace credentials • Hirer verification • Candidate verification • Trusted connection Candidate 35
Slide 37: Trust is a differentiator which will drive sustained growth
PRODUCT DEMOS Trust Trust is a differentiator which will drive sustained growth in placements and yield Progress highlights1 Jan 2023 to Jan 2025 2.5x >50% >20% 8 growth in of applications more likely to post markets with verifications with a verified on SEEK SEEK Pass profile in ANZ Stand out Selec
Slide 38: AI is enabling us to engage more deeply with users
PRODUCT DEMOS Trust AI is enabling us to engage more deeply with users, guide them, and increasingly do the work for them SEEK AI focus Multi-modal Agentic Image / OCR, voice and video AI assistance and task completion 37
Slide 39: Break
Break 38
Slide 40: Asia overview
Asia overview Ricky Lam Director, Commercial 39
Slide 41: Asia is realising benefits from the unified APAC platform
ASIA Asia is realising benefits from the unified APAC platform Unification is supporting yield growth, ad scale and placements 18% increase in Asia yield since rollout of Variable pricing and freemium model in place; new product deployment across the region unified platform in H1 24 at pace +10 perc
Slide 42: Freemium is growing volumes short term and will grow revenue longer term
ASIA Freemium is growing volumes short term and will grow revenue longer term Phase 0: Phase 1: Phase 2: Phase 3: Phase 4: Evaluate and Freemium Deliver ad scale and Return to pre- Deliver revenue plan for launch manage revenue freemium growth through hirer freemium spin-down (6-12 revenue levels ac
Slide 43: Freemium is exceeding expectations in the emerging markets
ASIA Freemium is exceeding expectations in the emerging markets Freemium objectives Value drivers Early results from emerging markets Increased ad scale ~50% growth in total ads, >30% from new hirers Grow market share with greater ad scale and Increased candidate attention >15 applications per free
Slide 44: Operating leverage
Operating leverage Kendra Banks Chief Financial Officer 43
Slide 45: We can deliver our product strategy and achieve operating leverage
OPERATING LEVERAGE We can deliver our product strategy and achieve Operating leverage operating leverage “Run the business” costs will be stable… Represents discretionary investment • Core technology, sales and corporate costs will be stable; AI automation will target software development, customer
Slide 46: Closing
Closing Kendra Banks Chief Financial Officer 45
Slide 47: Key takeaways
CLOSING Key takeaways Strong Our investments to date have built a strong foundation for growth with foundations leading market positions, a well-established customer franchise and a in place scalable platform Significant Significant growth opportunities exist in the core business to continue growth
Slide 48: Questions
Questions es 3 ee
Slide 49: Appendix
Appendix 48
Slide 50: Metrics
APPENDIX Metrics Source: Independent research conducted on behalf of SEEK in Australia, NZ and Asia. Represents most recent six months of survey results and reflects SEEK and Jora. Placement survey is A Placement share based on respondents who changed/started jobs in the last 12 months. Asia placeme
Slide 51: Definitions
APPENDIX Definitions APAC SEEK’s 8 markets in Asia Pacific (Australia, New Zealand, Hong Kong, Malaysia, Singapore, Indonesia, Thailand and Philippines) Depth adoption Depth ads (including the advanced ad, premium ad, ad enhancements, and others) sold as a portion of total job ads sold Developed mar
Slide 52: Building on a decade of AI investment to unlock new capabilities through LLMs
Differentiated AI APPENDIX – PRODUCT STRATEGY capability We are building on a decade of AI investment to unlock new capabilities through LLMs LLMs are expanding and accelerating our capabilities EMERGING 1 Relevance 2 Intent 3 Explainability 4 Anticipation 5 Automation Make better use of Help users
Slide 53: Compounding and extending our proprietary data advantage
Proprietary data APPENDIX – PRODUCT STRATEGY and insight We are compounding and extending our proprietary data advantage Expanding the sources of our proprietary data and market understanding Deeper understanding Users Profiles Searches Talent ~250m p.a. >50m ~700m p.a. Rich preferences Users Jobs P
Slide 54: Structural trends provide penetration opportunity, particularly in emerging markets
APPENDIX - ASIA Structural trends provide penetration opportunity, particularly in emerging markets ANZ Asia developed Asia emerging AU NZ HK MY SG PH TH ID SEEK revenue (H1 25 A$m) $416m $85m $35m Total workforce (m)1 15 3 4 16 4 48 41 149 Market penetration: transition from informal to formal empl