Slide 1: Trusted since 1888
Trusted since 1888 Trustec EQUITY TRUSTEES LIMITED (and what follows) Year ending 30 June 2004
Slide 2: If you were a shareholder
7 If you were a shareholder © © © — ® oO = 7] x) oO —_ n =) ra - e ‘Trustec Share price recovery Dividend payment resumed (fully franked) > 10 cents = Interim > 20 cents = Final 30 cents = Total for year 4 defined business units helping deliver revenue growth of 20% Management outlook on performance
Slide 3: Financial Result — Full Year
Financial Result — Full Year ‘Trustec 2004) 2003] ($m) ($m) Revenue 19.62 16.35 Expenses 15.86 20.25 03 Profit (Loss) before tax 3.76 (3.90) PA | Net Profit (Loss) 2.81 (3.06) c Cm | Earnings per Share 45.52 cents} (52.08) cents xe) £ Included profit (after tax) 0.48 (0.33) E from sale of investment
Slide 4: Underlying Profit Strong
7 Underlying Profit Strong ‘Trustec Strong recovery in trading profit $2.33m EPS of 37.74 cents Revenue growth good Cost controls delivered and in place Business model “normalised” co co co - ® tS) = “” xo} ® —_ 2) ) a -
Slide 5: Built by Business Units
7 Built by 4 Business Units feo] ioe] feo] — ® oO | “” xe) ® —_ 2) =) Sue - ‘Trustec Private Clients — creating & safeguarding personal wealth (includes traditional lines) Funds Management — EQT branded funds for retail & platform markets Corporate Trusts/Responsible Entity — leading trustee/respons
Slide 6: Funds Under Management have grown strongly, both in Private Clients
Funds Under Management have grown strongly, both in Private Clients............. ‘Trustec Private Clients FUM 2001 2002 2003 co co co - ® ) = ” xo} ® —_ ” ) ra -
Slide 7: Funds Management FUM
‘Trustec Funds Management FUM 2001 2002 2003 co co co - ® ) = ” xo} ® —_ ” ) ra -
Slide 8: Healthy spread of revenue across business units
betaeetenneeneees resulting in a healthy spread of revenue across business units........ ‘Trustec Trading Revenue Year Ending 30 June 2004 Funds Private Clients Management {incl DIY) — 35% 32% Wealthpac Corporate 17% Trusts Corporate 12% 4% co co co - ® tS) = “” xo} ® —_ 2) ) a -
Slide 9: Net Profit After Tax & Earnings Per Share
veaeeeeeeneaenees producing strong profits and a corresponding improvement in earnings per share........ ‘Truistec _ Net Profit After Tax & Earnings Per Share {$ ‘000) (Cents per share) 3,000 50 2,500 40 2,000 40 © 1,500 on 1,000 q 03 500 10 _ tt) 4 Qo -500 4 . g som * lon “1,500 — -2,000 “30 “” 2,5
Slide 10: Dividends Paid
‘Trustec Dividends Paid (Cents per share) 25.00 20.00 15.00 10.00 5.00 | 0.00 Interim] Special} Final | Interim) Final 2002 2002 2002 2003 2003 Interim) Final 2004 2004 co co co - ® tS) = “” xo} ® —_ 2) ) a -
Slide 11: And a stronger share price
eeaeeeaaeneeeees and a stronger share price. ‘Trustec Share Price Chart (EQT) Price ($) 9.00 8.00 7.00 6.00 5.00 4.00 30-Jun-03 31-Aug-03 31-Oct-03 31-Dec-03 29-Feb-04 30-Apr-04 30-Jun-04 31-Aug-04 © © © tn ® 5) = “” x) ® —_ “” =) = -
Slide 12: Success Drivers
7 Success Drivers “Buy in” from management & staff Favourable market conditions — Share market — Franked dividends & capital growth — Wealth accumulation Re-positioning of company (traction) Culture shift co co co - ® tS) = “” xo} ® —_ 2) ) a -
Slide 13: Summary and Outlook
7 Summary and Outlook ‘Trustec Trading profit restored — quality base for growth Moved on from 2002/03 Improved working capital (from $2.5m to $6.7m) Stronger Balance Sheet with unrealised gain on investments in excess of $3.5m co co co - ® tS) = “” xo} ® —_ 2) ) a -
Slide 14: Summary and Outlook (cont.)
7 Summary and Outlook (cont.) feo] ioe] feo] — ® oO | “” xe) ® —_ 2) =) Sue - ‘Trustec Improved product/service list — diversification while building on trustee heritage System replacement project — final implementation stage targeted for 31/12. Better client service & efficiency Clear strategic foc
Slide 15: Summary and Outlook (cont.)
7 Summary and Outlook (cont.) co co co - ® tS) = “” xo} ® —_ 2) ) a - ‘Trustec “Foot on the pedal” to continue (with enthusiasm) We play in growth markets with good geographic location Dividend policy to distribute 60 to 80% of after tax trading profit Store of franking credits stands at 57 cents pe