Slide 1: Market Announcement: Investor and Analyst Briefing Materials
€omputershare MARKET ANNOUNCEMENT Friday, 4 March 2005 Investor and Analyst Briefing Materials Attached are the materials that are being presented to major investors and analysts today as part of a management briefing. A copy of these materials will also be posted on the Company's website (www.compu
Slide 2: Investors & Analyst Briefing March 2005
Computershare Investors & Analyst Briefing March 2005
Slide 3: Asia Pacific
Computershare Asia Pacific Stuart Crosby a rt—“‘“COeéeWOOC CF Group Managing Director — «. FP, AsialPacific iy Computershare
Slide 4: Outline
: Outline ~ Computershare Asia Pacific — Geographical spread — Markets, offerings and opportunities — Computershare Australia — Market overview — Business lines
Slide 5: Computershare Asia Pacific
‘Computershare Asia Pacific India -Investor Services - Mutual Funds anon Singapore - CRM (SRG) — New Zealand - Investor Services li - Analytics la : Distribution (SRG) Hong Kong Anvestor Services -Markets Tech -Analytics Data Capture & Research Computershare
Slide 6: Business lines by geography
Business lines by geography Aust. | NZ HK | India | Manila | Sing. | Korea | Japan Investor @ & & & oO oO oO oO Services Plans @ (o) @ oO © Lo) oO (oe) Document Services @ o nd © © © o o Corporate @ oO e oO oO oO @ e Proxy Analytics @ @ @ (2) Oo oO @ @ Pepper a o;]o co) oe) eS (o) ro) @ Separate Bus
Slide 7: Computershare Asia Pacific: Hong Kong, India, Malaysia
~ Computershare Asia Pacific | Hong Kong ; + Mainly investor services, but growing plans opportunities (esp into China). + Developing analytics and proxy opportunities. + 80% market share, and dominant in large transactions (eg, Link REIT). Main competitor Tricor (owned by Bank of East Asia). + Hot
Slide 8: Computershare Asia Pacific: New Zealand, Philippines, Korea
-Computershare Asia Pacific New Zealand we Mainly investor services. + Unattractive tax environment for plans. Some analytics opportunities. + 90% market share in investor services. Sole competitor (BK) recently sold to NZX and ASX Perpetual (60% each), and new owners clearly have plans to move it u
Slide 9: Computershare Asia Pacific: Japan, Singapore, China
~Computershare Asia Pacific Japan ; + Analytics and proxy distribution arrangements with a range of market players. + Material interest from some investor services participants in CPU offering as the Japanese market opens up and dematerialises. Singapore + Mainly creative and client management for c
Slide 10: Australia
Australia Perth -Investor Services - Document Services Melbourne -Global Head Office -Operations -Document Services -Investor Services -Plans alytics (SRG) -Pepper (SRG) Adelaide ~ Investor Services | in l Brisbane - Investor Services Sydney -Investor Services -Document Services -Plans -Markets Tech
Slide 11: Computershare Australia — market overview
-Computershare Australia — market overview Very high level of M&A and capital management activities. Increased penetration of the Computershare “integrated solution’, especially in the M&A and IPO spaces. Examples include Westfield triple stapling (processing, print and mail, analytics and proxy), N
Slide 12: Computershare Australia — by business line
: Computershare Australia — by business line Investor Services * 65% market share. + Coming out of a period of aggressive price competition and hoping for more rational behaviour going forward. + Future ownership of main competitor (ASX Perpetual) uncertain and clear signs that it is limiting capita
Slide 13: Computershare Australia — by business line
Computershare Australia — by business line “Plans + Dominant provider of premium share plan administration and promotion services. + — Offering enhanced through improved on-line dealing services and Pepper-based plan promotion and education services. Georgeson Shareholder Communications + Dominant p
Slide 14: EMEA
Computershare EMEA Rob Chapman ae wy ot Computershare
Slide 15: Outline
: Outline ~ Computershare EMEA — Geographical spread — Markets, offerings and opportunities — Computershare EMEA — Business challenges — Market overview — Business opportunities
Slide 16: Computershare EMEA
: Computershare EMEA | give London, Edinburgh, Bristol, Channel islands Ireland: Dublin Germany: Munich Moscow Italy: Rome -Investor Services -Document Services Plans -Analytics (SRG) -Pepper (SRG) -Markets Technology -Investor Services Corporate Actions -Plans Contact Centre Services -Analytics (SR
Slide 17: Computershare EMEA business lines by country
~ Computershare EMEA Channel South UK Ireland | Islands Italy | Russia | Germany Africa Investor Services Ad & ee ro) ee - Plans @ @ C) oO CO & @ Document Services & a) CO (2) oO Oo © Corporate Proxy & & Oo }|@!]o ro) ro) Analytics a a oO CC) o>) oS & Pepper & OQ io) o|]o ep OQ © Separate Business U
Slide 18: Computershare EMEA — UK
~ Computershare EMEA UK . . Investor Services to 30% of FTSE 100 and 25% of registry market. M&A activity has increased ~— gaining in excess of 40% of recent market activity. Employee Share Plans a fragmented market - Computershare well positioned to service global corporations headquartered in UK (
Slide 19: Computershare EMEA — UK
UK Computershare EMEA Diversification into market sectors that utilise our core capabilities — such as CORGI (gas regulator); NHS (health care) and Gilts (HMT govt. bonds). Analytics and proxy opportunities emerging in the UK market ~ significant interest. Transition of GSC and Analytics to broader
Slide 20: Computershare EMEA — Ireland, South Africa
-Computershare EMEA ‘Ireland = = Mainly investor services with 90% market share. Sole competitor Capita. « Employee Share Plans business important due to global nature of clients — but not large. « IPO and M&A levels low in recent times — less than five significant transactions a year. « Potential t
Slide 21: Computershare EMEA — Germany, Russia
~ Computershare EMEA Germany + EMagin acquisition to strengthen AGM offering * Transfer of former JV registry service to German based service and CARE system - providing control and ability to review over-all go-to-market approach. Russia + Minority interest in NRC ~ ownership of 45% of the company
Slide 22: Computershare EMEA — Channel Islands, Italy
Computershare EMEA Channel Islands + Joint venture with Rawlinson-Hunter to provide specialist off-shore Executive and Employee investment funds. « Linked closely to Employee Share Plans offered out of mainland UK. * Potential to expand into more specialist investment, plans and trust instruments be
Slide 23: Computershare EMEA — business challenges
- Computershare EMEA — business challenges * Europe is still very much a collection of vastly differing markets — local knowledge is absolutely key. + Harmonisation of EU financial markets is likely but uncertain —- Euroclear SSE project still some way off (2008/10). * Consolidation of exchanges / C
Slide 24: Computershare EMEA — market overview
- Computershare EMEA — market overview ~ Expansion — building around the key market hubs Largely registered market Beneiux is a bearer market NCSD is registrar for Sweden & Finland Home to some major issuers 20% owned by OM Opportunities in plans, SR: : ¥ Registered shares 24 largest ADR market in E
Slide 25: Computershare EMEA — business opportunities
Computershare EMEA — business opportunities Hub Issues Approach France Culture; banking in short term, investigate potential acquisition of Issuer dominance; small registry | Services business as starting point. Build up local team to market. increase Plans / SRG sales. Longer term operate to drive
Slide 26: Computershare EMEA — business opportunities
_ Computershare EMEA — business opportunities . Aggressive pursuit of core Investor Service expansion in UK — realising potential of Equiserve and global propositions to global clients. « Expansion of service offerings in core markets through targeted acquisition, market consolidation and key accoun
Slide 27: North America
Computershare North America Steven Rothbloom ae wy , 7 ey Computershare
Slide 28: Outline
: Outline ~ Computershare North America — Geographical spread — Canada — Market overview — Business lines -US — Market overview — Business lines — Fixed income services initiative
Slide 29: Computershare North America
. Computershare North America North America nvestor Services —Employee Plans —Document Services —Mutual Fund Proxy Services —Corporate Proxy Fixed Income Services —Analytics —Pepper —-World Records Computershare
Slide 30: Canada
Canada Winnipeg Manitoba ancouver British Columbia oronto, Richmond Hill Ontario Halifax Nova Scotia Montreai Quebec Computershare
Slide 31: Canada
Canada Competitive landscape ~- Has remained status quo—-environment is relatively stable 62% transfer agent market share 20% employee plans market share One major competitor Highlights ~ Canada rule 54-101 enables TAs to mail to beneficial owners-—-ADP monopoly broken Computershare helped drive thi
Slide 32: US locations
Canton Massachusetts* Burr Ridge, | NYC, Hauppauge Chicago New York itlinois ° Golden Colorado Shelton San Francisco Connecticut California Edison, Jersey City” New Jersey Cleveland Ohio Rockville Maryland * Locations to be added upon close of EquiServe acquisition Computershare
Slide 33: US — Market Overview
US — Market Overview ~ Computershare's uniqueness in the marketplace is being noticed ~ End-to-end service offering - Independent from any banks - Technological edge - Industry is consolidating ~ When EquiServe deal closes, Computershare will be the largest transfer agent in the US - A large Transfe
Slide 34: US — Highlights
US — Highlights - Recent wins include: ~ ALLTEL stock transfer ~ went live August 2004 - News Corporation stock transfer ~ went live November 2004 + Handled transition of listing fram Australia to New York - Principal Financial Group stock transfer ~ went live January 2005 - A significant register f
Slide 35: US — Highlights
US — Highlights ~ And of course, McDonald’s Corporation - Won before EquiServe deal announced - Went live February 28, 2005 ~~ Ronald even took a few shareholder calls! ill : : y — Le Ll ee Computershare
Slide 36: US — Highlights
US — Highlights ~ Integration of Georgeson Sharehoider and Transcentive ~ Georgeson Sharehoider: ~ Mutual fund proxy business integrated into Alamo Direct to form Fund Services group ~ Corporate proxy services now part of global stakeholder relationship group -- US TA support services (post-merger,
Slide 37: US — Priorities
US — Priorities ~ Close EquiServe deal & integrate the business ~ Leverage knowledge, expertise and processing capability to grow business beyond TA and Plans ~ Fixed income services—newly launched in US to build on Canadian Trust expertise ~ CDS—commercial print/mail for credit unions, check printi
Slide 38: Stakeholder Relationship Group
Computershare Stakeholder Relationship Group Dr. Oliver Niedermaier CEO, Stakeholder Relationship Group Investor Presentation March 2005
Slide 39: Management of Global Business
Management of Global Business Regional P&L Responsibility Global PAL and/or Strategic Responsibility AsiaPacitis EMEA North America T T 1 Capital Markets Technology Corporate Services Cocument Services Shareholder Solutions Computershare
Slide 40: A Corporate Perspective
A Corporate Perspective — —_ Unleashing “hidden” value and the true potential of recent acquisitions ~ CPU further exploiting recently acquired assets in terms of skills, brands, technology, ete. ~ Aglobal structure for a global businesses ~ Optimizing product offering and value for clients ~- Addin
Slide 41: A Personal Perspective
A Personal Perspective — Building a global Stakeholder Communications-powerhouse ~— IR provider from data to high end advisory - “Communication-enabling’ of an industry ~ “Technology-enabling’ of an industry -~ Bringing Stakeholder approach to market ~ Giving SRG within the CPU group even greater si
Slide 42: SRG: The Rationale
SRG: The Rationale “Georgeson” Investor Relations Powerhouse Georgeson Shareholder
Slide 43: Investor Relations Powerhouse
? investor Relations a Powerhouse Georgeson Shareholder Communications consultancy o Technology applications ‘ - Structure to chase the M&A money with enhanced superior offering ~ Adding a communications and marketing consultancy layer ~ Leveraging CPU fulfillment infrastructure - Providing financia
Slide 44: IR Value Chain
IR Value Chain Distr bution Current SRG Assets: Database Applications Proxy Solicitation ; Targeting ; Ownership + Data Reporting + Shareholder * Retail Communication +* Shareholder ID Communications Strategy * Creative Design Future Revenue Computershare
Slide 45: IR Value Chain — an example
IR Value Chain — an example ' Distribution - ,Dissident Shareholder Group“ Example: -Identifying + Multi channel - Targeted institutional —- Financial PR/ beneficial holders; communication and retail campaign C-Suite advisory Vote predictions Computershare
Slide 46: Why is Computershare fit to build this business?
Why is Computershare fit to build this business? + A unique combination of technology, communications and content assets + Brand Strength: Georgeson, a 71 year old name, especially strong in the key market of the U.S. + An end to end product and service offering « Access to the Global Call Center an
Slide 47: Strategic Program in place
Strategic Program in place = + Agenda 24: ~ Objective for the end of calendar year 2006 is to: Significantly increase the value of the business for CPU! How: ~- Aggressive revenue growth (proxy expansion, further regional pepper expansion, etc.) — Aggressive profitability growth towards high margin
Slide 48: Striving for uniqueness and sustainability in our business
Striving for uniqueness and sustainability in our business. * Longer Revenue Lock-in + Natural Point of Contact * Higher Profile Board leve » Assist Registry/Plans wins Computershare
Slide 49: Key Priorities for next months
Key Priorities for next 6 months + Significant investment in market positioning + Address some of the gaps in the M&A advisory space «Invest in the Global Data Repository (Institutional Ownership etc.) + Integrate offerings and bundling into client focused solutions (first focus on equiserve client
Slide 50: What is being said?
What is being said? ; Sydney Morning Herald “Australian share registry operator -Computershare...” The Australian “the world’s largest, share registry and services company.. Investor Relations AFR Poweyhouse *global share registry manager Georgeson Computershare..” Shareholder Canberra Times “Austra
Slide 51: Document Services Global Review
Computershare Document Services Global Review David Hynes Global Chairman CDS | | i —_— resentation . |. a >... March 2005 a oa Do Computershare
Slide 52: Agenda
Agenda ~ Story so far... — Overall Business Model — How it works for CPU ~CDS$ — adding value... ~ Status of regional business units — Global Summary
Slide 53: Story so far...
Story so far... —~ Volumes internal/external have increased 3 fold since acquisition in 2000 ~CDS had 3 stable facilities in 2 countries now has 10 in 4 countries (includes 2 Equiserve facilities) —CDS external revenue streams are constant and annuity based providing resistance against the peaks and
Slide 54: Overall Business Model — how it works for CPU
Overall Business Model — how it works for CPU ~ Start up viability: Internal volumes usually underpin 75% of startup cost base ~ Long term viability: Within 3-5 years reach a 50/50 split of internalfexternal revenue - Capability: External focus drives people skill, product and technology innovation
Slide 55: Overall Business Model — Growth Strategy
Overall Business Model — Growth Strategy ~ Internal sales - CIS/CPM - Outsourced Work ~ ensure no leakage ~ New Products ~ Quick Certs, Edgar filings, Quorum, Financial Print, Quarterly Reports — External sales - Targeted client segments: energy, insurance, financial ~ Leverage all CPU business unit
Slide 56: Overall Business Model — Lessons Learnt
Overall Business Model — Lessons Learnt - Inefficient in-house operations are the best targets for off-shore growth ~ Large customers are sticky — In Australia we have seen very little movement of large accounts _ Large accounts have been won by using our Consultancy Methodology to provide tailored
Slide 57: CDS — adding value...
CDS — adding value... Additional purchases Delivery channel Payment methods a & “rie p> statement marketing Benefit influencing selection of channel choice reduced casts influencing payment method choice increased revenue influencing purchase of additional products Computershare
Slide 58: Australian Market
Australian Market — Almost fully outsourced. Mature market — major competitors are listed players ~ Growing National Coverage model with acquisition in Perth (~20 % Market Share WA) — Electronic delivery sales strong — becoming a competitive advantage — Influence up-sell & cross-sell campaigns on tr
Slide 59: EMEA Market (UK)
EMEA Market (UK) ~ Expect market to grow with continued outsource trend ~ Looking for a UK acquisition to fast track growth ~ Other acquisition/greenfield opportunities exist in Ireland and South Africa — Strong focus on take-over of existing in-house operations ~ Added 4 Color Digital Print to Serv
Slide 60: US Market
US Market + Expect market to grow with continued outsource trend + Following Equiserve/Alamo Print and Mail facilities integration, we will come a significant player —- volumes increase 5 fold with additional facilities providing a wider distribution model + External sales strategy is now effective
Slide 61: Canadian Market
Canadian Market — Expect market to grow with continued outsource trend — Need to expand coverage model — Completing integration of Royal & SunAlliance print and mail environment into CDS — strong focus on next big deal (energy/utility sector) — Large registry market share is providing a constant sou
Slide 62: Global Summary
Global Summary | ~ Current revenue split: 60% internal / 40% external - Global foot print - best in the world! - Tech Products - have globai suite - deployed globally in Feb 05 ~ Win major clients to become a major player in each market - Sales opportunities — work with all CPU businesses to create