Corporate Update

Gavin Dixon

CEO, Reckon Business Division

2009 Review• QuickBooks 2009 consolidates QBi release

– 29% growth in Enterprise revenue, 7% growth in QuickBooks overall

– 39% market share by Dec 2009

– Good quality of 2009 release

• POS grew market share (38%) – 106% up YoY (MYOB 67% YoY)

– Lots of new features in POS 2010 – excellent opportunity for APs

• QuickBooks Online launched successfully – Over 1000 users signed up in 4 months, 2000 users by end of March 2010

• Encouraging growth in AP and PP memberships• Reckon Docs, Elite improved market share, new offerings• Thank you for your support in 2009

2009 Review• Some process improvements

– Call Centre hours extended to 7pm

– Increased head count in PSG Tech Support

– Voice Of Customer (VOC) survey feedback implemented

– QB 10/11 two beta phases to improve quality assurance

– Early release process implemented• to AP council, APs, PPs and then end-users

– Web site revamps• Enterprise, Partners, Knowledge Browser

Performance Highlights – year ended December 2009

Reckon Group

Operating revenue up 42% to $85.3mEBITDA* up 38% to $26.1mNPAT* up 27% to $14.4m

Professional Division

Operating revenue up 32% to $28.1mEBITDA up 26% to $11.6m

Business Division

Operating revenue up 29% to $49.9mEBITDA up 29% to $15.9m

nQueueBillback

Operating revenue $7.3mEBITDA $2.4m

Trends over last 5 years

Cumm Growth 108% Cumm Growth 159%

Operating rev enue

20 2028

30

42

43.3

010203040

5060708090

2005 2006 2007 2008 2009

$m

Half year Full year

EBITDA

1.5

6.38.3

9.6

13.2

12.9

0

5

10

15

20

25

30

2005 2006 2007 2008 2009$

m

Half year Full year

Key 2010 Strategies

• Leverage QuickBooks 2010 QBi Series release• Broad user acceptance now achieved• Increasing organic growth• Attractive new capabilities and offerings

• Leverage scalability of QuickBooks Enterprise Edition

• Leverage QuickBooks Online service

• Expand Reckon Online offerings for a broader addressable market

• Continue to grow Reckon Docs market share• Add new service offerings

• Take advantage of expanded direct sales team