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Corporate Update

Corporate Update. Gavin Dixon CEO, Reckon Business Division. 2009 Review. QuickBooks 2009 consolidates QB i 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%)

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Corporate Update

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  1. Corporate Update Gavin Dixon CEO, Reckon Business Division

  2. 2009 Review • QuickBooks 2009 consolidates QBirelease • 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

  3. 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

  4. Performance Highlights – year ended December 2009 • Reckon Group • Operating revenueup 42% to $85.3m • EBITDA* up 38% to $26.1m • NPAT* up 27% to $14.4m Professional Division Operating revenue up 32% to $28.1m EBITDA up 26% to $11.6m nQueueBillback Operating revenue $7.3m EBITDA $2.4m Business Division Operating revenue up 29% to $49.9m EBITDA up 29% to $15.9m

  5. Trends over last 5 years

  6. 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

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