COMPUTERSHARE ANNUAL REPORT 2008

DIVIDENDSThe following dividends of the consolidated entity have been paid or declared since the end of the preceding financial year:Ordinary sharesA final dividend in respect of the year ended 30 June 2007 was declared on 15 August 2007 and paid on 21 September 2007.This was an ordinary dividend of AU 9.0 cents per share unfranked, amounting to AU$51,638,553 (US$46,162,730).An interim ordinary dividend in respect of the half year ended 31 December 2007 was declared on 13 February 2008 and paid on25 March 2008. This was an ordinary dividend of AU 10.0 cents per share franked to 20.0% amounting to AU$55,565,406(US$49,672,672).A final dividend in respect of the year ended 30 June 2008 was declared by the directors of the Company on 13 August 2008, tobe paid on 19 September 2008. This is an ordinary dividend of AU 11.0 cents per share, franked to 30.0%. As the dividend was notdeclared until 13 August 2008 a provision has not been recognised as at 30 June 2008.REVIEW OF OPERATIONSOverviewThe FY08 result demonstrated the capacity of the Group to grow revenue and earnings despite conditions weakening in majormarkets. Interest rate levels fell in North American markets, nonetheless margin income grew on FY07 due to increased clientbalances. Continued focus on controllable costs and the ability to keep cost increases well below the rate of revenue growth againcontributed to the record result. Favourable exchange rate movements and share buy back activity also contributed to earnings pershare growth.Computershare delivered record financial earnings, increasing earnings per share (on a management adjusted basis) by 41% from36.68 to 51.61 cents per share. This represents Management net profit after Outside Equity Interest (“OEI”) of $290.4 million.Total revenues increased by 12% to $1,582.5 million while operating cash flows grew 8% to $347.3 million.Due to business growth, operating expenses have increased 5% compared to the prior year but remain lower than the 12% increasein operating revenue. Depreciation and amortisation expenses remained consistent year on year.The Group’s effective tax rate has increased from 25.8% for the year ended 30 June 2007 to 26.0% in the current financial year.The Group’s financial position remains strong with total assets of $2,238.0 million being financed by shareholders’ funds totalling$770.2 million.02-13Overview14-36Governance37-88FinancialsRevenuesRegionally, revenues were apportioned between Asia Pacific 28%, North America 48% and EMEA 24%.The Asia Pacific region contributed total revenues of $437.0 million (2007: $319.5 million). North America contributed total revenuesof $766.9 million (2007: $782.4 million). The EMEA region contributed total revenues of $371.0 million (2007: $311.3 million).Operating costsOperating expenses were $1,106.0 million an increase over prior year of 5%. Cost of sales remained constant whilst personnel costsgrew 9%. Corporate & other direct costs decreased 16% and 14% respectively.Total technology costs increased to $157.2 million (2007: $132.0 million) which includes $64.8 million of research and developmentexpenditure which has been expensed in line with the Group’s policy.89-92ReportsWorking capitalImproved profits contributed to operating cash flows of $347.3 million for the 2008 financial year. This is an improvement of$26.3 million or 8% on the previous financial year. Capital expenditure of $42.8 million was an increase of $17.1 million over 2007due largely to post acquisition property related expenditure. Days sales outstanding increased slightly to 44 days (2007: 43 days).Ordinary sharesOn 15 November 2006, Computershare announced an on-market buy-back of up to 25 million ordinary shares for capitalmanagement purposes. The buy-back commenced in December 2006 for a period of six months. On 24 May 2007 Computershareannounced that the buy-back would be extended by a further six months so that it continued until 29 November 2007 or earlierif the maximum number of shares were bought back before that date. On 15 August 2007 Computershare announced that thebuy-back was increased to a total of 45 million ordinary shares under the existing program. The buy-back period was also extendedto 31 January 2008.From 1 July 2007 to 18 October 2007, the Company purchased and cancelled 35,205,009 ordinary shares at a total cost ofAU$343.2 million with an average price of AU$9.75 and a price range from AU$8.76 to AU$11.00.On 18 October 2007, Computershare completed the on-market buy-back program when the total number of shares boughtback and cancelled reached 45 million. The total cost of the buy-back program was AU$445.8 million with an average price ofAU$9.91 and a price range from AU$8.52 to AU$11.00.93-96Further InformationPAGE 23