Ann: 30 June 2011 Results Presentation , page-2

Great Result this morning.

- 18.8c EPS (consensus was 18.5c, 28% increase over normalised prior period)
- Final Dividend 5.5c ? takes total to 10.5c for the year.
- 247.2 million unused funding as at 30/6/11
- Op Cashflow $53m to $87m (up 64%)
- Self Funding increased $22 million. Stops dead cash weighing the balance sheet and warehouses before securitisation.
- All business units performed well. Certegy was a standout.
- Recourse debt to equity only 15%
- Confident in 12% to 15% EPS growth in FY12. Equates to EPS 20.9c to 21.5c.

Great Management who have always delivered since I have followed this company.

Current macro headwinds will test FXL like every other company, especially as their very low recourse debt exposure is not widely appreciated.

Share price will likely be turbulent while the market acts as a voting machine but eventually will become a weighing machine! (With apologies to Ben Graham)