Seek Limited · ASX:SEK

Seek — Shareholder Meeting (November 2013)

33 slides from Seek's shareholder meeting presentation, Nov 28, 2013

1. Slide 1: Annual General Meeting 2013

   For personal use only Annual General Meeting 2013 28 November 2013

2. Slide 2: Disclaimer

   Disclaimer For personal use only The material in this presentation has been prepared by SEEK Limited ABN 46 080 075 314 ("SEEK") and is general background information about SEEK’s activities current as at the date of this presentation. The information is given in summary form and does not purport to

3. Slide 3: Key Messages

   For personal use only Key Messages

4. Slide 4: SEEK is making a positive contribution to people's lives on a large scale

   SEEK is making a positive contribution to people’s lives on a large scale SEEK Domestic SEEK International SEEK Education For personal use only c.30 c.330 million million monthly monthly visits visits Helped c.50k people c.3 find courses in FY13 million job ads c. 24% of Australian placements Educat

5. Slide 5: FY13 Key Messages

   FY13 Key Messages For personal use only  Group highlights • Another record full year result • FY13 vs pcp growth of Revenue of 40%, EBITDA of 24%, NPAT (excl significant items) of 8% & dividends per share 27% NPAT (excl  SEEK Domestic significant items) • Solid result in subdued conditions • Pleas

6. Slide 6: A solid FY13 result despite far from buoyant macro conditions

   A solid FY13 result despite far from buoyant macro conditions Group Headline Performance EPS & Dividends For personal use only cents Growth A$m Growth EPS FY13 FY12 cents % FY13 FY12 $m % Basic EPS excl significant items (cents) 41.8 38.6 3.2 8% Revenue1 620.2 442.3 177.9 40% Dividend per share (cps

7. Slide 7: SEEK is a global business with a track record of growth

   SEEK is a global business with a track record of growth… “Look-through”1,2 Revenue “Look-through”1,2 EBITDA FY04 – FY13 CAGR of 38% FY04 – FY13 CAGR of 55% For personal use only $714.6m $264.3m $657.4m $233.8m $219.5m $64.3m $557.7m $173.9m $187.5m $48.6m $454.3m $128.3m $399.4m $142.3m $35.7m $33.1

8. Slide 8: …that has consistently created shareholder value

   …that has consistently created shareholder value SEEK’s TSR vs the S&P/ASX 2001,2 Key investment highlights For personal use only 560.5% • Track record of delivering strong financial results 385.8% • Market leading Domestic business • Strong M&A track record leading to high return on investment (“RO

9. Slide 9: Core drivers of earnings growth & shareholder returns

   Core drivers of earnings growth & shareholder returns Core Drivers drivers of earnings Earnings growth Growth For personal use only SEEK Domestic SEEK International SEEK Education Structural migration Structural trends Large market opportunities • Structural migration from print to • Rising internet

10. Slide 10: SEEK Domestic

    For personal use only SEEK Domestic

11. Slide 11: Solid FY13 result from SEEK Domestic in subdued conditions

    Solid FY13 result from SEEK Domestic in subdued conditions SEEK Domestic Financials Key Insights For personal use only A$m Growth • FY13 Rev decline of -5% & EBITDA decline of -7% on FY12 FY13 FY12 $m % • Rev only slightly below pcp despite weak conditions Revenue 234.9 247.8 (12.9) (5%) • Effective

12. Slide 12: SEEK is the clear market leader in AU & NZ

    SEEK is the clear market leader in AU & NZ … “Traditional” Competitive Landscape - AU & NZ1,2,7 “Evolving” Competitive Landscape Share of AU placements (%) For personal use only Outperform ance Outperformance 30% Closest 12 months ending (average) 5,9 vs. Nearest vs. Nearest Australia Com petitor Co

13. Slide 13: SEEK Domestic's core drivers of future earnings growth

    SEEK Domestic’s core drivers of future earnings growth Structural migration of print to online For personal use only SEEK to capture volume & revenue opportunities from the continued structural migration from print to online Improvement in the economic cycle SEEK’s core drivers of earnings growth Ex

14. Slide 14: SEEK to be the main beneficiary of structural migration

    SEEK to be the main beneficiary of structural migration given its market leadership For personal use only Online is the clear leader in job ad volumes and Structural migration of revenue from print to online user preferences is a continuing trend 100 Job Ad Jobseeker Share of USA Online Revenue as %

15. Slide 15: SEEK is highly leveraged to an upturn in the cycle

    SEEK is highly leveraged to an upturn in the cycle Ad volume conditions have stabilised For personal use only in recent months Leveraged to improvement in cycle Signs of stabilisation in the last five months Case Study – Seasonally Adjusted (Dec-07=100) Growth in key metrics from FY10 v FY11 120 SEE

16. Slide 16: Well positioned for growth via SEEK's placement strategy

    ..and is well positioned for growth via SEEK’s placement strategy For personal use only Aspirations of SEEK’s Placement Strategy Large Growth Opportunity If we execute on the placement strategy, • SEEK facilitated c.600k or c.24%1 of placements the answer to the questions below will be on a rolling

17. Slide 17: Operational focus of SEEK's placement strategy

    Operational focus of SEEK’s placement strategy Focus Areas Explanation & Progress to date For personal use only Be the primary marketplace • Extend SEEK’s market leadership (brand, ads, visits) and develop & for all candidates refine new products to facilitate improved job search and application • C

18. Slide 18: SEEK International

    For personal use only SEEK International

19. Slide 19: Interests in leading online marketplaces with exposure to c.2.5b people

    SEEK has interests in leading online marketplaces which have exposure to c.2.5b people and >20% of global GDP For personal use only Zhaopin (80%) CJOL2 • Zhaopin is #1 in certain regions and Mexico (56%) a close #2 overall • #1 Market Position • Population of c.1,349m • Population of c.116m • Intern

20. Slide 20: Pleasing results achieved during a re-investment period

    Pleasing results achieved during a re-investment period “Look-through”1 Revenue (A$m) FY13 Highlights For personal use only $219.5m • Record “look-through”1 results 82% $173.9m • Strong YoY growth of Revenue 26% & EBITDA 32% CAGR2 • Strong underlying growth – key highlights $128.3m • Brasil Online E

21. Slide 21: Seeing signs of improving conditions in Asia

    Seeing signs of improving conditions in Asia … • In FY13, achieved rev. growth of 8%1 & EBITDA growth of 19%1 despite soft For personal use only conditions & highly competitive market • SEEK undiluted ownership interest currently at 80.1%2 • In H1 FY14, achieved admin requirements that position Zhao

22. Slide 22: Well positioned for growth across Latin America

    …with SEEK well positioned for growth across Latin America For personal use only • In FY13, delivered strong EBITDA growth of 46%1 & revenue growth of 15%1 • Scalability of business reflected in EBITDA margin expansion 27% (FY13) v 22% (FY12) • Brasil intends to pay a distribution of BRL 60m in the

23. Slide 23: Strategic investments providing exposure to SE Asian and Africa markets

    Strategic investments are providing exposure to fast growing SE Asian and Africa markets For personal use only • In FY13, achieved revenue growth of 10%1 & EBITDA growth of 33%1 on FY12 • EBITDA margins of 48% (vs 39% pcp) following cost control & 22% Ownership Interest moderation of heavy marketing

24. Slide 24: SEEK Education

    For personal use only SEEK Education

25. Slide 25: Strong result from SEEK Education in FY13

    Strong result from SEEK Education in FY13 “Look-through”1 Revenue (A$m) Key Highlights For personal use only • Strategic Update $260.2m • THINK: Laureate International Universities (Laureate) to 60% $235.8m acquire SEEK’s remaining 80% interest for an implied EV of CAGR $207.8m $205.3m A$140m2 $169.

26. Slide 26: Strong results achieved by SEEK Learning & Swinburne Online

    Strong results achieved by SEEK Learning & Swinburne Online … For personal use only • In FY13, achieved revenue growth of 24% & EBITDA growth 62% on FY12 • Pleasing contribution from higher value courses, announced 100% Ownership Interest several new partnerships & expanded course offerings • In FY1

27. Slide 27: …with THINK and IDP also performing well

    …with THINK and IDP also performing well For personal use only • In FY13, achieved revenue growth of 19%1 and improved EBITDA margins to 15%1 • Update: Laureate International Universities (Laureate) to acquire 80% Ownership Interest at end of FY13 SEEK’s remaining 80% interest for an implied 100% EV

28. Slide 28: Trading Update

    For personal use only Update Trading

29. Slide 29: FY14: Trading Update – FY14 YTD

    FY14: Trading Update – FY14 YTD The guidance statements below may vary due to macroeconomic shock(s) or volatility in sentiment in domestic and/or global markets For personal use only • Re-Affirms: Expect Reported Revenue, EBITDA & NPAT1 in FY14 to be greater than FY13 SEEK • Re-Affirms: SEEK has a

30. Slide 30: SEEK's focus on the fundamentals expected to deliver future shareholder returns

    SEEK’s focus on the fundamentals is expected to deliver future shareholder returns For personal use only  SEEK’s core focus has always been on delivering the best possible outcomes for jobseekers, hirers & students 1. SEEK Domestic & International – To be the clear global leader in online employmen

31. Slide 31: Additional Info

    Additional Info For personal use only • SEEK Group page 32

32. Slide 32: SEEK Domestic Mobile Visits

    SEEK Domestic Mobile Visits SEEK Mobile Visits- AU & NZ (‘m) Key insights For personal use only 'm • Mobile1 accounted for c44% of total AU & NZ visits in Oct- 14.0 13, exhibiting strong engagement metrics 12.0 • SEEK AU & NZ had c12.5m mobile1 visits in Oct-13 10.0 • Of which c5.8m were iPhone/i-Pa

33. Slide 33: For personal use only

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