Computershare (CPU) Company Presentation summary

Track record and business model

• Sustained long-term earnings growth, with a 14.8% CAGR in revenue and 18.5% CAGR in dividends since FY14.

• Average historical EBIT margin of ~22% and ROE of 23%, reflecting strong profitability.

• High client retention and recurring revenues from a capital-light, technology-driven business.

• Leading positions in large, growing markets supported by robust proprietary platforms.

Financial performance and revenue profile

• 1H25 revenue reached $1,410M, up 6.4% YoY, with recurring fees and market-sensitive transaction revenues.

• Management EPS for FY25 guided at ~135cps, up 15% vs prior year.

• EBIT ex Margin Income (MI) expected to be up 30% for the full year, with improving margins.

• Margin income for FY25 anticipated around $750M, with stable balances and hedging supporting future MI.

Segment and operational highlights

• Revenue growth and margin expansion across Issuer Services, Corporate Trust, and Employee Share Plans in 1H25.

• Strong recurring fee revenues and continued momentum in Employee Share Plans trading volumes.

• Corporate Actions, IPOs, and Bond Issuance activity levels remain robust.