co announcement 18/06/09

18 June 2009
Company Announcements
Australian Stock Exchange Limited

By Electronic Transmission – Pages 3

Dear Sir,
Business Update
The following is a business update for the information of shareholders.

The Managing Director and Chief Executive Officer of Customers Limited (Customers), Tim
Wildash, today confirmed Customers ATM business was performing strongly following the
introduction of the new Direct Charging ATM Industry pricing system on 3 March 2009.
Direct Charging Implemented Successfully
Mr Wildash said the changeover to the new convenience fee system had been implemented
smoothly and in line with expectations.
“There have been no major surprises with the implementation of Direct Charging. It is a credit to
the Australian ATM industry that the changeover has been so seamless. The team at Customers
has worked 24/7 to ensure a clean and trouble free transition and we believe our efforts have
been rewarded accordingly,” said Mr Wildash.
He commented that recent months had been complex in terms of measuring the precise impact of
Direct Charging in isolation, given that the weeks immediately post the launch of the new fee
system included Easter and associated holiday periods, and have been impacted by factors such
as the global financial crisis and the Federal Government’s stimulus package, in addition to the
usual seasonal effects.

In line with company forecasts emanating from the implementation of Direct Charging, Customers
withdrawal levels processed in May represent a reduction in the range of 12-13% compared with
transaction volumes experienced prior to the implementation of the new convenience fee system.
Balance enquiries, which represent a minority of the company’s overall transaction volumes, are
down approximately one third.
“The change in withdrawal transaction volumes is well within expectations and the ability for
Customers to now charge a convenience fee directly to ATM users has positioned the company
strongly.
“Customers is now evidencing robust improvement in daily cash flows and solid positive monthly
earnings for the first time since Customers re-invention as an ATM Company in 2004,” Mr
Wildash said.


Major Contract Signings
In early June 2009 the company announced two major contracts, the first with the Bendigo and
Adelaide Bank and the second with BP Australia in separate arrangements.

The five year deal with the Bendigo and Adelaide Bank will see Customers progressively expand
the bank’s ATM fleet by up to 500 ATMs, with terminals to be selected and branded with the
Bendigo Bank’s brand.

The signing with BP Australia Pty Ltd will extend Customers current ATM services contract at
over 200 ATM installations across BP’s company owned and operated stores in Australia.

Importantly, the new contract provides both parties with committed arrangements until 2013 on
improved terms.

Capital Management and Debt
Customers strong earnings profile has created new opportunities in terms of the company
managing its balance sheet.
Through healthy trading, managed asset sales and ongoing cost control, Customers core
business is generating cash flow levels enabling the retirement of senior debt in the short term
and providing the option to operate on a debt free basis in the future.

Mr Wildash said that the Customers Board was evaluating Capital Management strategies under
the new business dynamic.

“The Board is committed to maintaining a modest level of gearing to provide flexibility and a
suitable amount of leverage for the business which is generating reliable daily levels of cash
flow,” he said.

The Board is reviewing its funding needs in line with the strategic plan and will determine the
company’s potential to provide shareholders with a dividend for the first time in FY2010.


Strategic Development
Mr Wildash said that he remained confident of the company’s strong underlying growth prospects
into the future.

“On the back of the uplift from the Direct Charging regime, we anticipate working closely with new
clients such as the banks and credit unions, moving into new markets through a strategic
expansion into New Zealand, and generating additional revenue streams through new product
lines such as advertising on ATMs and pre paid cards.
“Our New Zealand investment is expected to accelerate in FY2010 and we expect it to be a
significant longer-term opportunity for Customers and its NZ partners,” said Mr Wildash.