1 | Investor Presentation * Excluding acquisitions ^Excludes - - PowerPoint PPT Presentation

1 | Investor Presentation

* Excluding acquisitions ^Excludes Consumer Solutions

• Note: Proforma results provide a view of the financials as if Domain had been a separately listed entity for the comparative period. FY18 includes twelve months of the proforma incremental

costs as per the Domain separation Scheme booklet. The Domain separation implementation date was 22 November 2017.

FY19 FY18 % $m Proforma Change Revenue 335.6 357.3 (6.1%) Share of Profits (Loss) (0.3) (1.4) 77.8% Expenses (237.3) (240.2) 1.2% EBITDA 98.0 115.7 (15.3%) EBIT 65.9 89.5 (26.4%) Net profit attributable to members of the company 37.4 52.9 (29.3%) Earnings per share (EPS) ₵ 6.43 9.17 (29.9%)

7 | Investor Presentation

REVENUE EBITDA EBITDA MARGIN FY19 FY18 % FY19 FY18 % FY19 FY18 $m Proforma Change Proforma Change Proforma Residential 173.3 172.5 0.5% Media, Developers & CRE 47.1 54.1 (12.9%) Agent Services 32.2 27.9 15.1% Core Digital 252.5 254.5 (0.8%) 108.7 114.7 (5.2%) 43.1% 45.1% Consumer Solutions (Transactions) & Other 26.9 24.4 10.0% (7.2) (2.7) (167.0%) Digital 279.4 278.9 0.2% 101.5 112.0 (9.3%) 36.3% 40.2% Print 54.3 77.1 (29.6%) 13.9 20.0 (30.5%) 25.6% 26.0% Corporate 1.9 1.3 51.2% (17.5) (16.3) (6.8%) Domain Group 335.6 357.3 (6.1%) 98.0 115.7 (15.3%) 29.2% 32.4%

Note: Proforma results provide a view of the financials as if Domain had been a separately listed entity for the comparative period. FY18 includes twelve months of the proforma incremental costs as per the Domain separation Scheme booklet. The Domain separation implementation date was 22 November 2017.

8 | Investor Presentation

9 | Investor Presentation

Note: Core Digital Segment includes Residential, Media, Developers & Commercial and Agent Services. Consumer Solutions & Other was previously Transactions & Other.

• 172.5

173.3 FY18 FY19

+0.5%

52%

Note: 1. Domain and APM PriceFinder data; 2. Source: emma™ conducted by Ipsos, people 14+ for 12 months ending March 2019. Nielsen Digital Content Ratings (Monthly), people 14+ March 2019, Total Audience reach includes Domain, Domain Review and Allhomes.

11 | Investor Presentation

Domain Listings Competitor Listings

Volume % ch Yield per listing % ch 12 | Investor Presentation

Established Expanding Emerging Continue to grow consumer engagement and strengthen market position Targeted investment to grow audience reach and accelerate depth coverage Continue to develop market position via cost-effective marketing and sales activities Market Segments Objective Agent coverage Audience Expand reach Pricing Product upsell Increase in frequency Expand reach High upside Medium upside High upside Audience-driven upside Audience-driven upside Audience-driven upside High upside High upside High upside Key opportunity FY19 Volume vs Yield (sale only)

Volume % ch Yield per listing % ch

13 | Investor Presentation

Website visits Views per listing

+8% YoY +26% YoY

FY19 H2 Volume vs yield (sale only) % change YoY Targeted multi-platform campaign Supporting Domain’s Queensland audience to record levels High quality audience driving views per listing to record levels And supporting significant gains in yield despite softer market conditions

FY18 H2 FY19 H2 FY18 H2 FY19 H2

VOLUME % CH YIELD PER LISTING % CH

Domain’s referral traffic from Nine increased 300%+ YoY in FY19 H2

Note: 1. Google Analytics, website sessions to Domain.com.au from Nine for the period January-June 2019 vs previous comparable period. 2. Nielsen Market Intelligence-Domestic Traffic, Website sessions in Queensland for Domain.com.au and Allhomes.com.au combined (excludes app), January-June 2019 vs previous comparable period. 3. Domain internal data, views per live listing in Queensland, January-June 2019 vs previous comparable period.

• 14 | Investor Presentation

Source: Australian Property Monitors – New ‘For Sale’ Listings (Total market)

15 | Investor Presentation

25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19 2,000 4,000 6,000 8,000 10,000 12,000 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19 200 400 600 800 1,000 1,200 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19 2,000 4,000 6,000 8,000 10,000 12,000 14,000 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19

Source: Australian Property Monitors – New ‘For Sale’ Listings (Total market)

16 | Investor Presentation

25,000 30,000 35,000 40,000 45,000 50,000 55,000 60,000 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19 2,000 3,000 4,000 5,000 6,000 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19 2,000 3,000 4,000 5,000 6,000 7,000 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19 0,700 1,200 1,700 2,200 2,700 3,200 July Aug Sept Oct Nov Dec Jan Feb March April May June 2015/16 2016/17 2017/18 2018/19

FY18 FY19 FY18 FY19 FY18 FY19 FY18 FY19 FY18 FY19 FY18 FY19 Total NSW VIC QLD SA WA Gold & Silver Tiers Platinum Tier

17 | Investor Presentation

18 | Investor Presentation

19 | Investor Presentation

• 12.9%

54.1 47.1 FY18 FY19

14%

21 | Investor Presentation

22 | Investor Presentation

• +15.1%

27.9 32.2 FY18 FY19 10%

24 | Investor Presentation

25 | Investor Presentation

26 | Investor Presentation

24.4 26.9 FY18 FY19

• +10.0%

8%

• ^ Underwriting agency model provides Domain with delegated authority to sell insurance products on behalf of multiple insurers, with greater control over the customer proposition as well as the sales and claims experience.

Domain Insure does not assume claims risk, which remains with the underwriter.

28 | Investor Presentation

Settlements Unconditional approvals

*Source : productreview.com.au

29 | Investor Presentation

• 29.6%

16% 77.1 54.3 FY18 FY19

• −

− −

31 | Investor Presentation

32

• 33 | Investor Presentation

35 | Investor Presentation

FY19 Statutory (Reported 4E) Less Significant Items Statutory Excluding Significant Items Adjustments to Statutory Trading Performance Excluding Significant Items $m Revenue 343.3 (7.7) 335.6

• 335.6

Share of Profits / (Loss) (0.3)

• (0.3)
• (0.3)

Expenses (419.1) 181.8 (237.3)

• (237.3)

EBITDA (76.1) 174.1 98.0

• 98.0

Depreciation & Amortisation (34.6) 2.5 (32.1)

• (32.1)

EBIT (110.7) 176.6 65.9

• 65.9

Net Finance Costs (8.5)

• (8.5)
• (8.5)

Net Profit / (Loss) Before Tax (119.1) 176.6 57.4

• 57.4

Tax (Expense) / Benefit (16.0) (1.6) (17.7)

• (17.7)

Net Profit / (Loss) After Tax (135.2) 174.9 39.8

• 39.8

Net Profit Attributable to Non Controlling Interest (2.4)

• (2.4)
• (2.4)

Net Profit / (Loss) Attributable to Members of the Company (137.6) 174.9 37.4

• 37.4

Earnings Per Share (EPS) ₵ (23.67) 6.43 6.43

Note: Proforma results provide a view of the financials as if Domain had been a separately listed entity for the current and comparative periods. FY18 includes 12 months of the proforma incremental costs as per the Scheme booklet. The Domain separation implementation date was 22 November 2017.

36 | Investor Presentation

FY18 Statutory (Reported 4E) Less Significant Items Statutory Excluding Significant Items Adjustments to Statutory Proforma Trading Performance Excluding Significant Items $m Revenue 286.6

• 286.6

70.7 357.3 Share of Profits / (Loss) (1.4)

• (1.4)
• (1.4)

Expenses (251.6) 36.0 (215.6) (24.6) (240.2) EBITDA 33.6 36.0 69.6 46.1 115.7 Depreciation & Amortisation (20.4)

• (20.4)

(5.8) (26.2) EBIT 13.2 36.0 49.3 40.2 89.5 Net Finance Costs (4.7)

• (4.7)

(2.9) (7.6) Net Profit / (Loss) Before Tax 8.6 36.0 44.6 37.3 81.9 Tax (Expense) / Benefit (11.3) (4.5) (15.9) (7.9) (23.8) Net Profit / (Loss) After Tax (2.7) 31.5 28.7 29.4 58.1 Net Profit Attributable to Non Controlling Interest (3.4) (1.9) (5.3)

• (5.3)

Net Profit Attributable to Members of the Company (6.2) 29.6 23.5 29.4 52.9 Earnings Per Share (EPS) ₵ (1.55) 5.92 9.17

37 | Investor Presentation

FY19 FY18 % $m change Statutory Expenses (419.1) (251.6) (66.6%) Less Significant Items 181.8 36.0 n/a Statutory excluding Significant Items (237.3) (215.6) (10.1%) Adjustments to Statutory

• (24.6)

n/a Total Expenses (excluding Significant Items) (237.3) (240.2) 1.2% comprising Consumer Solutions Expenses (33.8) (25.9) (30.7%) Underlying Expenses (203.5) (214.3) 5.0%

40% 15% 17% 8% 5% 15% FY19

Staff Production and Distribution Promotion Computer and Communications Property, Repairs and Maintenance Other

$237.3m 39% 20% 17% 7% 4% 13% FY18

Staff Production and Distribution Promotion Computer and Communications Property, Repairs and Maintenance Other

$240.2m

Impact +/- FY20 $m Operating expenses – Property, Repairs & Maintenance + 7-9 Depreciation and amortisation

• (8)-(10)

Interest expense

• (0)-(2)

Net Profit

• (1)-(3)

38 | Investor Presentation

FY19 FY18 $m Impairment of goodwill (178.8) (29.6) Income tax benefit

• 2.7

Impairment of goodwill, net of tax (178.8) (26.9) Restructuring charges (2.9) (6.4) Accelerated depreciation (2.5)

• Income tax benefit

1.6 1.8 Restructuring, net of tax (3.8) (4.6) Gain on contingent consideration payable and sale of controlled entities 7.7

• Income tax expense
• Gain on contingent consideration payable and sale of controlled entities,

net of tax 7.7

• Significant items, net of tax

(174.9) (31.5)

39 | Investor Presentation

FY19 FY18 $m Cash from Trading 103.4 62.7 Net Finance Charges (7.0) (3.3) Tax Payments (20.4) (13.4) Net Cash Inflow from Operating Activities 76.1 46.0 Investment in PP&E and Software (22.8) (20.4) Net Investment in Businesses/ Ventures (1.4)

• Net Cash Outflow from Investing Activities

(24.3) (20.4) Proceeds from Borrowings

• 188.0

Repayment of Borrowings (25.0)

• Transaction Cost on Issue of Shares
• (7.5)

Repayment of Borrowings to Fairfax Media Limited

• (174.6)

Dividends Paid (38.0) (29.9) Net Other (0.3) 1.0 Net Cash Outflow from Financing Activities (63.3) (23.0) Net Cash (Outflow) / Inflow (11.5) 2.5 Cash at Beginning of Period 60.8 58.3 Cash at End of Period 49.3 60.8

• 40 | Investor Presentation

FY19 Facility Usage $m Non Current Syndicated Bank Facility 250.0 163.0 Total Debt Facilities 250.0 163.0 50.0 100.0 150.0 200.0 FY20 FY21 FY22 $Am

Undrawn Drawn

• 41 | Investor Presentation

FY19 FY18 $m Cash 49.3 60.8 Trade and Other Receivables 46.0 62.8 Current Assets 95.3 123.6 Investments

• 3.4

Intangible Assets 1,365.2 1,534.7 Property, Plant and Equipment 15.9 23.4 Non Current Assets 1,381.1 1,561.4 Total Assets 1,476.4 1,685.1 Current Liabilities 61.1 66.9 Interest Bearing Liabilities 162.5 187.3 Provisions 11.2 15.7 Deferred Tax Liabilities 78.0 81.7 Non Current Liabilities 251.8 284.7 Total Liabilities 312.9 351.6 Net Assets 1,163.5 1,333.5 Contributed Equity 1,289.7 1,283.4 Reserves (35.0) (38.9) Retained Profits (94.6) 78.2 Total Parent Equity Interest 1,160.1 1,322.7 Non-Controlling Interest 3.4 10.8 Total Equity 1,163.5 1,333.5 Net Debt / (Cash) 113.2 126.5

43

45 | Investor Presentation

As reported FY19 FY18 FY19 H1 FY18 H1 $m Core Digital (4.0) (4.9) (2.7) (3.4) Consumer Solutions (Transactions) & Other 2.2 1.1 1.1 0.5 Digital (1.8) (3.8) (1.6) (3.0) Print (0.6) (1.5) (0.7) (0.8) Total Non-Controlling Interest (2.4) (5.3) (2.2) (3.8) Adjusted for divestments FY19 FY18 FY19 H1 FY18 H1 $m Core Digital (4.0) (4.9) (2.7) (3.4) Consumer Solutions (Transactions) & Other 2.8 1.1 1.3 0.3 Digital (1.1) (3.9) (1.5) (3.1) Print (0.6) (1.2) (0.5) (0.6) Total Non-Controlling Interest (1.8) (5.1) (2.0) (3.7)

*Note: Divestments include Compare & Connect and Beevo in Consumer Solutions and Star Weekly in Print.

46 | Investor Presentation

FY19 FY18 % $m Proforma Change Revenue 302.3 322.1 (6.1%) Share of Profits (Loss) (0.3) (1.4) 77.8% Expenses (205.4) (207.4) 0.9% EBITDA 96.6 113.3 (14.7%) EBIT 64.9 87.9 (26.1%)

*Note: Divestments include Compare & Connect and Beevo in Consumer Solutions and Star Weekly in Print.

47 | Investor Presentation

REVENUE EBITDA EBITDA MARGIN FY19 FY18 % FY19 FY18 % FY19 FY18 $m Proforma Change Proforma Change Proforma Residential 173.3 172.5 0.5% Media, Developers & CRE 47.1 54.1 (12.9%) Agent Services 32.2 27.9 15.1% Core Digital 252.5 254.5 (0.8%) 108.7 114.7 (5.2%) 43.1% 45.1% Consumer Solutions (Transactions) & Other 3.1 0.9 259.7% (8.6) (3.9) (118.1%) Digital 255.6 255.3 0.1% 100.1 110.7 (9.6%) 39.2% 43.4% Print 44.8 65.5 (31.5%) 14.0 18.9 (26.0%) 31.1% 28.8% Corporate 1.9 1.3 51.2% (17.5) (16.3) (6.8%) Domain Group 302.3 322.1 (6.1%) 96.6 113.3 (14.7%) 31.9% 35.2%

*Note: Divestments include Compare & Connect and Beevo in Consumer Solutions and Star Weekly in Print.

48 | Investor Presentation

FY19 H1 FY18 H1 % $m Proforma Change Revenue 164.9 165.9 (0.6%) Share of Profits (Loss) (0.3) (0.7) 55.1% Expenses (113.0) (109.5) (3.2%) EBITDA 51.6 55.8 (7.4%) EBIT 37.5 43.2 (13.2%)

*Note: Divestments include Compare & Connect and Beevo in Consumer Solutions and Star Weekly in Print.

49 | Investor Presentation

REVENUE EBITDA EBITDA MARGIN FY19 H1 FY18 H1 % FY19 H1 FY18 H1 % FY19 H1 FY18 H1 $m Proforma Change Proforma Change Proforma Residential 93.6 86.1 8.6% Media, Developers & CRE 25.8 28.7 (10.1%) Agent Services 15.8 13.7 15.2% Core Digital 135.2 128.6 5.1% 55.9 55.9 0.1% 41.3% 43.4% Consumer Solutions (Transactions) & Other 1.5 0.1 896.0% (5.0) (1.8) (183.6%) Digital 136.7 128.7 6.2% 50.9 54.1 (5.9%) 37.2% 42.0% Print 27.3 36.6 (25.4%) 9.1 9.5 (4.9%) 33.2% 26.0% Corporate 0.9 0.6 49.1% (8.4) (7.9) (6.2%) Domain Group 164.9 165.9 (0.6%) 51.6 55.8 (7.4%) 31.3% 33.6%

*Note: Divestments include Compare & Connect and Beevo in Consumer Solutions and Star Weekly in Print.