• Management EPS up 3.9%, ROIC exceeding 36%
• Client paid fees up ~5%, event and transaction revenues up 12.9%
• Margin Income resilient despite lower interest rates, natural hedge limiting impact

Computershare has reported its 1H FY26 results, delivering a solid performance. Management EPS was up 3.9% and ROIC exceeded 36%, demonstrating the company's execution on its strategic plans. Revenue increased by 7.2% and EBIT ex Margin Income grew by 12%, with operating costs increasing below the rate of inflation, leading to EBIT ex MI margins improving to 16%. The company's three business lines - Issuer Services, Corporate Trust, and Employee Share Plans - continued to strengthen their competitive positions and deploy new technologies to enhance customer value and efficiencies. Client paid fees were up around 5%, and event and transaction revenues recovered, increasing by 12.9%. Margin Income was resilient, down only 5.4% despite a sharp 17% decline in average US cash rates, as Computershare's natural hedge limited the impact. The company's balance sheet remains strong, with debt leverage reduced to 0.3x, enabling investment in new technologies, acquisitions, and increased dividends. The Board has determined to increase the interim dividend to AUD 55 cps, up 22.2% versus the prior period.

Computershare is upgrading its FY26 earnings guidance, now expecting Management EPS of around 144 cps, up around 6% from the initial guidance of 4% growth to 140 cps. This is driven by momentum across the key business lines, lower interest costs, and the benefit of the share buyback completed last year.

With momentum across its key business lines, lower interest costs, and the benefit of the share buyback, Computershare has a positive outlook for the remainder of FY26. The company will maintain its focus on executing its strategic plans to deliver a higher quality business that generates consistent results and enduring returns for shareholders.