Perpetual Limited · ASX:PPT

Perpetual — Perpetual Trustees Australia — Shareholder Meeting (October 2004)

23 slides from Perpetual's shareholder meeting presentation, Oct 19, 2004

1. Slide 1: Perpetual Trustees Australia Limited Annual General Meeting

   rere Perpetual Trustees Australia Limited Annual General Meeting 19 October 2004

2. Slide 2: Mr. Charles Curran AO, Chairman

   rere Mr. Charles Curran AO Chairman

3. Slide 3: Track record of continued profit growth

   Track record of continued profit growth . Operating Profit After ‘Tax $100M7 805 605 40- 30.7 205 Q- Jun.00 »dun-02 Jun-03 Jun 04 Perpetual *Calculated. using operating profit after tax (excluding gains on: investment) 2 Jun01

4. Slide 4: Track record of dividend growth

   Track record of dividend growth Dividend per-share 200¢5 Special Dividend 150-5 EGY 150 1005 Normal Dividends | Jun.02 Jun. 03 Jun 04 Perpetu of. 3

5. Slide 5: Future dividend policy

   Future dividend policy e Strong cas hn generation Ordinary dividends of 90% of NPAT before goodwill amortisation and gains / losses on. - investments, fully franked e Low capital expenditure e Substantial franking credits. . ‘High dividend pay-out ratio Perpetu of. 4

6. Slide 6: Dividend per share

   Dividend per share 200¢5 1507 1005 Additional $2.00 special dividend in 2004 $4.00 in dividends for 2004 Special Dividend Jun_00 jun 01 Jun 02 Sep.04 Perpetu cf. 5

7. Slide 7: Mr. David Deverall, Managing Director

   rere Mr. David Deverall Managing Director

8. Slide 8: A good result in 2004

   A good result in 2004, $100M7 50M 805 100 4 607 405 “B05 207 Jun 03 jun 04 Jun 03 Jun 04 Perpetual *Calculated. using operating profit after tax (excluding gains on: investment) 7

9. Slide 9: Strong growth in Wealth Management

   Strong growth in Wealth Management jun 03 Jun 04 “$125M- 100- FB ~50- 255 Jun 03— Jun 04 Perpetu of. 8

10. Slide 10: Perpetual Investments: Funds under management up 25%

    Perpetual Investments: Funds under management up 25% | FUM ‘Balance ($B) | | . ; | $25B- 207 Jun 03 “Jun. 04 Perper 9

11. Slide 11: Performance well recognised by the market

    Performance well recognised by the market Fund Manager of the Year.2004 ; Australian Fauities Fund Manager: of the Year 2004- Fund Manager of the Year-2003 Australian Equities. Fund Manager-of the Year 2003 Australian Multi-Sector: Fund Manager. ofthe Year:2003 Fund Manager of the Year 2004 ~. Austr

12. Slide 12: Funds Under Advice growing

    Funds Under Advice growing Funds Under. Advice --. ; ; Funds Under. Advice $6B- $1.50B> 1,257 1.t 1.00 _ 0.757 0.507) Jun. 04 Perpetual TS:

13. Slide 13: Steady growth in Corporate Trust

    Steady growth in Corporate Trust $50M>. $30M- 40. 30-| 205 10-1 . 0 jun 03 Jun 04 jun 03 Jun 04 Perpetual S:

14. Slide 14: Corporate Trust Funds under administration growing

    Corporate Trust Funds under administration growing | Funds. Under. Administration $125B5 1007 : : Pretroary Funding 755 “505 254 Jun 03 Jun 04° Perpetual S?:

15. Slide 15: Strong growth in ASX Perpetual Registrars Ltd

    Strong growth in ASX Perpetual Registrars Ltd $60M> Jun.03 53.6 ~-Jun.04 $20M- 15+ 105 Jun 03 15.3 Jun 04 Perpetual S*:

16. Slide 16: Our new Strategy

    Our new Strategy III. Fully engage the staff to deliver our strategy Perpetual S::

17. Slide 17: I. Develop a more balanced portfolio

    I. Develop a more balanced portfolio e Integrated PFS and Pl businesses to create the Wealth Management division e Full potential from Advice businesses. e Broaden range of funds management products — : | e Trust industry opportunities Perpetual S*:

18. Slide 18: II. Develop new growth engines

    II. Develop new growth engines e Build capability in new investment skill sets —Global equities business based in Dublin Perpetual S?

19. Slide 19: Global equities presents a significant opportunity for Perpetual

    Global equities presents a significant opportunity for Perpetual Global equities is a very large market... ..With growing market share in Australia Global Equity : . Australian asset allocation in FUM (USD) Global equities (%_of total) $2,000B> 25, 1,500-| 20: 154] | 1,0005 ' 104) 5007] 54 0- 0-! oN

20. Slide 20: II. Develop new growth engines

    II. Develop new growth engines e Build capability in new investment skill sets —Global equities business based in Dublin . —Credit specialists in Australia e Expand range of Corporate Trust ~. services . Perpetual S*

21. Slide 21: III. Fully engage the staff to deliver our strategy

    III. Fully engage the staff to deliver our strategy | ° Refreshed Corporate Values e New remuneration policy e Senior leadership team developed. e Senior appointments made e Single premises — Angel Place Perpetual Sx

22. Slide 22: Four sources of competitive advantage underpin our strategy

    Four sources of competitive advantage underpin our strategy 1. The management of funds management teams, philosophies, and processes 2. Relationship management with financial. planning community 30A trusted brand ~ 4.A long history as a leading provider of fiduciary services to individuals and corpo

23. Slide 23: Special thanks to the entire Perpetual team

    Special thanks to the entire Perpetual team for delivering a strong result in 2004 Perpetual Sz:

Perpetual Trustees Australia — Shareholder Meeting (October 2004) on 6ix