www.bramble s.c o m 2 July 2013 The Manager - Listings Australian - PDF document

Bramble s L imite d ABN 89 118 896 021 L e ve l 40 Gate way 1 Mac quarie Plac e Sydne y NSW 2000 Australia GPO Bo x 4173 Sydne y NSW 2001 T e l +61 2 9256 5222 F ax +61 2 9256 5299 www.bramble s.c o m 2 July 2013 The Manager - Listings Australian Securities Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000 Via electronic lodgement Dear Sir COPIES OF SLIDES FOR AUDIO WEBCAST At 9.30 am AEST today, Tom Gorman, Chief Executive Officer will host an audio webcast presentation on Brambles’ intention to demerge Recall as a separate ASX-listed company. The slides for that webcast presentation are enclosed. The slides and webcast will be available on the Brambles’ website at www.brambles.com. Yours faithfully Brambles Limited Robert Gerrard Group Company Secretary {RNG 00080037}

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Intention to demerge Recall 2 July 2013 Intention to Demerge Recall Announcement highlights • Demerger of Recall through listing of Recall Holdings Limited on the AS X • Enables Brambles to concentrate on opportunities in Pooling S olutions (CHEP and IFCO) • Recall Holdings to have dedicated information management focus with – S trong market positions across global footprint of 23 countries – S table, recurring revenue streams – S trong operating cash flow to support dividends and investment – Growth prospects in developed and emerging markets – Net debt of approximately US $450 million • Ian Blackburne to be appointed Chairman of Recall Holdings; Doug Pertz to continue as CEO • S cheme book distribution expected in October with targeted December completion 2

Intention to Demerge Recall Key target dates in demerger process Late October : Lodge scheme book with ASX 22 October : Early December : Brambles AGM Second court hearing July August September October November December 2 July : 22 August : Brambles Early October : Early December : Mid December : Announcement FY13 results Lodge scheme S hareholder Demerger of intention book with AS IC meeting to vote implementation on scheme Late October : 10 December : First court Brambles hearing investor day Demerger conditional upon regulatory, court and shareholder approval 3 Intention to Demerge Recall Governance and leadership Ian Blackburne, Chairman • Current Chairman of Aristocrat Leisure (AS X) and director of Teekay Corporation (NYS E) • Former Chairman of CS R and Australian Nuclear S cience & Technology Organisation • Former Non-executive Director of S ymbion Health and S uncorp-Metway Doug Pertz, CEO • Extensive experience leading global industrial companies • Previously CEO and Chairman of US -listed IMC Global (now Mosaic Company) and Culligan Water Technologies • Leads experienced Recall executive team with strong performance track record 4

Intention to Demerge Recall Outlook 1 • FY13, subj ect to external audit and any closing adj ustments – Recall constant currency sales revenue to be approximately 3% below the previous year • S torage volumes and sales revenue growth unable to offset reduced transactional activity and weaker paper prices – Recall Underlying Profit expected to be US $138M to US $142M, at 30 June 2012 FX rates 2 , on reduced sales revenue and higher business development costs – Guidance range for Brambles Underlying Profit, including Recall, unchanged: US $1,030M to US $1,060M, at 30 June 2012 FX rates • Recall Holdings expected to be well-placed to generate growth in sales revenue and Underlying Profit in FY14 1 All forecasts based on Brambles’ segmental reporting and corporate cost allocations; independent Recall Holdings expected to incur approximately US $6 million of additional annual pre-tax corporate costs compared with those incurred by Recall as an operating segment of Brambles in FY13. 2 Guidance translates to between US $140 million and US $144 million using actual exchange rates. 5 Intention to Demerge Recall Attractive sales revenue streams S table, recurring income streams with approximately two thirds of sales revenue recurring in nature Sales revenue (US $M, 30 June 2012 FX) FY12 sales revenue by service line DPS 10% 817 S DS 18% 787 DMS 72% 749 735 FY09 FY10 FY11 FY12 FY13F NB: FY12 sales revenue by service line calculated at 30 June 2012 foreign exchange rates. Compound annual growth rates calculat ed at 30 June 2012 foreign exchange rates for the five years up to and including the FY13 forecast. 6

Intention to Demerge Recall Consistent growth in carton holdings Average annual carton holdings by region (M) 100 104 96 91 85 FY09 FY10 FY11 FY12 FY13F Americas ANZ Europe Asia Carton sales revenue and carton holdings consistently improved 7 Intention to Demerge Recall Strong profit and cash trends Profit & Cash Flow (US $M, 30 June 2012 FX) Profit Margin & Return on Capital Forecast Underlying Profit 21% range: US$138M t o US$142M 18% 17% 168 16% 16% 141 14% 14% 130 130 130 124 12% 118 89 FY09 FY10 FY11 FY12 FY13F FY09 FY10 FY11 FY12 Underlying Profit Cash Flow from Operations Underlying Profit margin Return on Capital Invested NB: All figures based on Brambles’ segmental reporting and corporate cost allocations; independent Recall Holdings expected to incur approximately US $6 million of additional annual pre-tax corporate costs compared with those incurred by Recall as an operating segment of Brambles in FY13. Compound annual growth rates calculated at 30 June 2012 foreign exchange rates for the five years up to and including the FY13 forecast. Profit margin & Return on Capital calculated at 30 June 2012 foreign exchange rates. 8

Intention to Demerge Recall Growth opportunities Total US$11.4B physical document • Largest opportunity currently management opportunity in Recall’s countries of operation 1 un-served by third parties • Continued opportunities in digital service delivery 37% • Well-positioned for growth in emerging markets 63% Unvended Vended ~80% of FY12 wins came from the unvended segment 1 S ource: Boston Consulting Group/ Recall management estimates, S eptember 2012 9 Intention to Demerge Recall Announcement highlights • Demerger of Recall through listing of Recall Holdings Limited on the AS X • Enables Brambles to concentrate on opportunities in Pooling S olutions (CHEP and IFCO) • Recall Holdings to have dedicated information management focus with – S trong market positions across global footprint of 23 countries – S table, recurring revenue streams – S trong operating cash flow to support dividends and investment – Growth prospects in developed and emerging markets – Net debt of approximately US $450 million • Ian Blackburne to be appointed Chairman of Recall Holdings; Doug Pertz to continue as CEO • S cheme book distribution expected in October with targeted December completion 10

Intention to demerge Recall 2 July 2013 Appendices

Intention to Demerge Recall Appendix i: Summary historical Recall financial information (US$M, actual FX) FY08 FY09 FY10 FY11 FY12 S ales revenue 748 686 740 815 845 EBITDA 170 150 173 197 237 EBITDA margin (% ) 23% 22% 23% 24% 28% Underlying Profit 122 104 125 145 174 Underlying Profit margin (% ) 16% 15% 17% 18% 21% Capital expenditure on PP&E 55 52 54 82 43 (Accruals basis) Average Capital Invested 972 897 942 1,037 1,103 Ret urn on Capital Invest ed (% ) 13% 12% 13% 14% 16% Cash flow from operations 128 107 122 93 132 NB: All figures based on Brambles’ segmental reporting and corporate cost allocations, unadj usted for costs Recall Holdings is expected to incur as an independent company. 13 Intention to Demerge Recall Appendix ii: Recall operating segments S ecure Document Management Solutions Secure Destruction Services Data Protection Services • Physical indexing, storage and • Confidential destruction of • S ecure offsite storage and on-demand retrieval of critical sensitive documents, other media rotation, protection and business information items and digital assets recovery of computer backup • Digital indexing, capture, storage • Environmentally-friendly recycling data and retrieval of information of shredded paper • Integration with business • Integration of digital information continuity planning and disaster into workflow processes and recovery systems • Advice on data retention and • Recurring storage activity and destruction policies transactional service activity • Recurring storage activity and transactional service activity 14