Computershare : 2025 AGM presentations

MARKET ANNOUNCEMENT

Computershare Limited

ABN 71 005 485 825

Yarra Falls, 452 Johnston Street Abbotsford

Victoria 3067 Australia https://www.computershare.com

Date:	13 November 2025
To:	Australian Securities Exchange
Subject:	Computershare 2025 AGM presentations and proxy summary

MARKET ANNOUNCEMENT

Attached are the presentations to be delivered by the Chairman, Paul Reynolds and the CEO, Stuart Irving at Computershare's AGM to be held at 10am on Thursday, 13 November 2025. Also included in the materials is a slide showing the direct and proxy votes received on each resolution in advance of the meeting.

For further information contact:

Michael Brown Investor Relations

Ph [phone]

[e-mail]

This announcement was authorised for release to the ASX by the Board. For more information, visit https://www.computershare.com

‌13 November 2025

Annual General Meeting

‌Chair's address

Paul Reynolds Chair

‌FY25 Results

Strong performance, Management EPS up 15% (results compared to proforma pcp)

Management Revenue

$3.1bn

Up 4.4%

Return on Invested Capital (ROIC)

35.8%

Up 50bps

Management EPS1

135.1 cps

Up 15.0%

Management EBIT ex. MI

$411.Gm

Up 17.4%

Margin Income (MI)

$75G.1m

Down 2.8%

Total dividend per share (AUD)2

G3 cps

Up 13.4%

Notes: All figures in this presentation are presented in USD millions and in constant currency, unless otherwise stated.

1 FY25 Management EPS is based on shares on issue as at 31 December 2024. Does not include shares bought back during 2H FY25. FY24 EPS is based on shares on issue as at 30 June 2023 of 603,729,336 (pre buybacks).

2 Unfranked; Compared to FY24 total dividend per share of AUD 82 cps.

Results are compared to Proforma pcp. Proforma adjustments to FY24 only, defined as Group results excluding US Mortgage Services (MS) contribution for the full year of FY24. FY25 unadjusted.

‌Supporting a range of social programs across our communities

Focus: World Youth International School in Nepal

IT College

OPENING IN 2026

Up to 50 students a year will be able to enrol in a Bachelor of IT Degree. Profits generated will be used to offset the school's operating costs.

Change A Life

BOARDING CENTRE BUILT

AU$300,000 raised by employees through fundraising treks funded the build of the Boarding Centre, which provides accommodation for students.

Essential upgrades

BUILD COMPLETE

Built a Senior School with four new classrooms and upgraded the science lab, library, computer rooms and sporting facilities.

TECHNOLOGY AND TRANSPORT UPGRADES

Provided two new school buses, WIFI, surveillance cameras, backup generator and a solar hot water system.

Supported 10 charities local to our offices

TOUR DE FARMS

Cycling challenge in the UK raised AU$90,000 for our UK local charities, Farms for City Children and FareShare.

FOODBANK SELECTED

Employees in Australia voted for Foodbank as our local charity.

‌CEO's address

Stuart Irving

Chief Executive Officer and President

‌Computershare today

Focused, high quality, capital light - anchored around three core divisions

Issuer Services

Corporate Trust

Employee Share Plans

Key statistics

12,000+

Employees

35.1m

Shareholder accounts

$6.6tn

Debt under administration

$267bn

Employee Share Plan Assets under administration

$2.4tn

Payments made per annum

$84bn

Client balances under management (including MMF)

‌Key value creation strategies

A business built on trust, technology, longstanding client relationships and execution capability

Ability to grow earnings and deliver high returns on capital through cycles

Improve the consistency of our earnings by managing our exposure to short term interest rate movements

Continue to strengthen our business through technology investments and client innovations

Proven track record of completing large scale acquisition integrations and technology projects and delivering the anticipated benefits

Maintain balance sheet strength to fund innovation, acquisitions and reward shareholders

‌FY25 Business performance

Revenue and EBIT growth across all businesses, with and excluding MI

Issuer Services

Corporate Trust

Employee Share Plans

‌High quality businesses drive strong returns

Balance sheet strength funds innovation, acquisitions and shareholder returns

Cash flow

Improving cash conversion reflects synergy programs progressing to completion.

823.7

56%

66%

718.0

Capex

Capital light businesses require low levels of ongoing capex to maintain performance levels.

333.5

276.3

Majority of software development expensed, not capitalised.

Debt leverage

Low leverage ratio provides substantial capacity to invest in business growth and further reward shareholders.

312.0

211.1

1,029.9

Shareholder returns

152% increase in shareholder returns vs. FY23. AU$750m buyback completed in FY25, AU$29.59 average purchase price.

50%

611.5

49.9

1.1%

1.6%

36.5

1.5%

46.8

0.85

461.4

0.42

527.6

0.36

243.5

FY23 FY24 FY25

Operating cash (Proforma)

Operating cash to Management EBITDA conversion ratio (Proforma)

FY23 FY24 FY25

Capex Capex as a % of revenue

FY23 FY24 FY25

Net Debt Net Debt to EBITDA ratio

FY23 FY24 FY25

Dividends Buyback

Proforma defined as Group results excluding US MS and KCC. FY23 and FY24 cash flow excludes US MS and KCC (FY23 only). Numbers are in USD M at Actual fx rates, leverage ratio (times X), conversion ratio (%).

‌FY26 trading update - strengthening confidence

FY26 guidance affirmed, Management EPS up around 4%, c. 140 cps. Ǫ1 tracking well to expectations.

Revenue ex MI	Core fees, event fees and transactional income all a little ahead of expectations. Corporate actions activity is rising, debt issuance volumes are improving, and employee share plan trading remains consistent.
Margin income	Client balances growing as activity levels increase. $720m MI Guidance affirmed versus FY25 MI of $761m. Higher balances offsetting lower yields. Balances now expected to be $30.6bn for FY26.
EBIT ex MI	EBIT ex MI slightly ahead of plan, ongoing margin expansion towards 20% mid-term target. FY26 guidance affirmed - up 5% v PCP.
Capital management	Strong balance sheet provides capacity to fund innovation, acquisitions and rewards to shareholders. Sale of UK Mortgage Services announced. $200m of USPP debt will be repaid Nov 25. Dividend payout under review given tax limitations on future share buybacks.

Please refer to slide 8 of the FY25 ASX market presentation for guidance assumptions.

‌Topics of focus

Positioning Computershare for the next chapter of growth

Tokenization	Taking an active role working with the SEC's Crypto Task Force to assist with the design of best market practice for tokenized equities ensuring liquidity, Issuer controls and fungibility with existing issuances, as well as investor protection. Long term opportunity for the group.
Ǫuality of earnings	As we near the completion of acquisition integrations and large-scale cost out projects, cash related management adjustments to earnings are falling sharply in FY26 and will be eliminated by the end of FY27.
Acquisition pipeline	We have clear acquisition targets in our core verticals and are in discussions with vendors. We will maintain our patient and disciplined approach to ensure we buy the right assets at the right price.
Organisational capabilities	Ongoing review from top down to provide Computershare with the right capabilities, technologies, regulatory approvals and structures to deliver the next chapter of growth.

‌Computershare investment case

Computershare's high quality, capital light business continues to deliver long term growth through cycles

Track record - long term earnings growth, margins and returns to shareholders

High quality, capital light business with recurring revenues and high client retention

Leading positions in large markets with positive growth trends

Robust, market critical proprietary technology and platforms

Strong balance sheet and cash flow - funds growth investments and returns to shareholders

3,500

3,000

2,500

2,000

1,500

1,000

500

0

Group Revenue (USD M)

40%

35%

30%

25%

20%

15%

10%

5%

FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

0%

EBIT Margin (%)

Average historical margin ~22%

37.6%

US Mortgage Services (US MS), disposed on 1st May 2024

45% Return on Equity (%)

40%

35%

30%

25%

20%

15%

Average historical ROE ~27%

10%

5%

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24

FY25

0%

38.7%

100

Annual Dividend (AUD cps)

93

80

60

40

20

FY98 FY99 FY00 FY01 FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25

0

‌Direct and Proxy Votes received before the AGM

Resolution	For	Against	Open	Abstain
Item 2 Re-election of Tiffany Fuller	382,139,165 G0.04%	40,135,310 G.46%	2,106,601 0.50%	373,529
Item 3 Remuneration Report	409,357,660 G6.48%	12,845,114 3.03%	2,079,405 0.4G%	474,225
Item 4 FY26 LTI Grant to the CEO	416,719,200 G8.20%	5,515,059 1.31%	2,076,231 0.4G%	445,914

‌Appendix: Margin Income, yields and average client balances

FY26 MI remains at ~$720m, higher balances offset slightly lower yields

FY26 - August Disclosure				FY26 - Updated Disclosure
	Avg Client Balances ($bn)	MI ($m)	Avg Weighted Yield (%)	Avg Client Balances ($bn)	MI ($m)	Avg Weighted Yield (%)
Exposed	9.8	330	3.33%	10.1	322	3.19%
Hedged	9.0	304	3.38%	9.1	310	3.41%
Non-Exposed	11.4	86	0.76%	11.4	88	0.77%
Total	30.2	720	2.38%	30.6	720	2.35%

35.0

30.0

25.0

$b

20.0

15.0

10.0

5.0

	2.00%	2.50%	3.00%	Current Rates	3.50%	4.00%	4.50%
+2b Balances	653	696	740	766	783	826	869
+1b Balances	639	679	718	743	758	798	838
FY26E Balances	625	661	697	720	733	769	806
-1b Balances	611	643	676	696	708	741	774
-2b Balances	596	625	655	673	684	713	742

0.0

Numbers above are translated at the FY25 constant currency fx rates.

Continuing Business Average Balances by Rate Sensitivity ($bn)

11.7

8.7

7.7

10.1

20.4

20.5

21.3

19.5

FY23 FY24 FY25 FY26

Average balances exclude US Mortgage Servicing for 1H23-2H24 and Class Actions and Bankruptcy for 1H23-2H23.

* = 1H26 and 2H26 are translated at the FY25 average FX rates.

Subject to Interest Rate Exposure Interest Rate Protected

FY26 Average Balances

Current rates assume rate curve as at 10th November 2025. Sensitivity assumes a nine-month impact for both balances and rates scenarios.

Non-Exposed 38%

Exposed 32%

August Disclosure

Hedged 30%

Non-Exposed 37%

November Disclosure

Exposed 33%

Hedged 30%

‌Important notice

› Summary information: This announcement contains summary information about Computershare and its activities current as at the date of this announcement.

› This announcement is for information purposes only and is not a prospectus or product disclosure statement, financial product or investment advice or a recommendation to acquire Computershare's shares or other securities. It has been prepared without taking into account the objectives, financial situation or needs of a particular investor or a potential investor. Before making an investment decision, a prospective investor should consider the appropriateness of this information having regard to his or her own objectives, financial situation and needs and seek specialist professional advice.

› Financial data: Management results are used, along with other measures, to assess operating business performance. The company believes that exclusion of certain items permits better analysis of the Group's performance on a comparative basis and provides a better measure of underlying operating performance.

› Management adjustments are made on the same basis as in prior years.

› The non-IFRS financial information contained within this document has not been reviewed or audited in accordance with Australian Auditing Standards.

› All amounts are in United States dollars, unless otherwise stated.

› Past performance: Computershare's past performance, including past share price performance and financial information given in this announcement is given for illustrative purposes only and does not give an indication or guarantee of future performance.

› Future performance and forward-looking statements

› This announcement may contain forward-looking statements regarding Computershare's intent, belief or current expectations with respect to Computershare's business and operations, market conditions, results of operations and financial condition, specific provisions and risk management practices.

› When used in this announcement, the words 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'continue', 'should', 'could', 'objectives', 'outlook', 'guidance' and similar expressions, are intended to identify forward-looking statements. Indications of, and guidance on, plans, strategies, management objectives, sales, future earnings and financial performance are also forward-looking statements.

› Forward-looking statements are provided as a general guide only and should not be relied upon as a guarantee of future performance. They involve known and unknown risks, uncertainties, contingencies, assumptions and other important factors that are outside the control of Computershare.

› Actual results, performance or achievements may differ materially from those expressed or implied in such statements and any projections and assumptions on which these statements are based.

Computershare makes no representation or undertaking that it will update or revise such statements.

› Disclaimer: No representation or warranty, expressed or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. To the maximum extent permitted by law, none of Computershare or its related bodies corporate, or their respective directors, employees or agents, nor any other person accepts liability for any loss arising from the use of this announcement or its contents or otherwise arising in connection with it, including, without limitation, any liability from fault or negligence.

› Not intended for foreign recipients

› No part of this announcement is intended for recipients outside Australia. Accordingly, recipients represent and warrant that they are able to receive this announcement without contravention of any applicable legal or regulatory restrictions in the jurisdiction in which they reside or conduct business.