Full Year 2013 Results

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Continued FY13 top line growthenables business reinvestment

Consumer division starting toleverage its foundations

Real Estate Solutions divisiongrowing recurring revenues

The Zillow story

Onthehouse is uniquelypositioned to grow

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30 June 2013

Real Estate Solutions 22,056 16,537 +75%

Consumer Online 2,044 (275) -13%

Unallocated income /(expenses) (9,213)

Total 24,100 7,049 29%

30 June 2012

Real Estate Solutions 19,333 13,111 +68%

Consumer Online 950 454 +48%

Unallocated Income /(expenses) (5,612)

Total 20,283 7,953 +39%

Top line growth enabling reinvestment• Operating revenue up 19%

• RES revenue increased by 14% with a relatively flatmarket share (whilst up-selling program scales)

• Consumer Online revenue increased by 115%, as itestablished its sales capability and continued toscale traffic

• EBITDA down 11% to $7.0m

• Re-investing to build capability (c40% increase inworkforce) and use first mover advantage to ownspace and drive long term growth

• NPAT of $1.0m including non-cash amortisation ofacquired intangibles of $5.3m

Information in addition to IFRS measures included in this report has been used for consistency and user readability. The measures havebeen derived from audited information contained in the financial statements.

Sales revenue 24,100 20,283 +19%

- Real Estate Solutions 22,056 19,333 +14%

- Consumer Online 2,044 950 +115%

EBITDA 7,049 7,953 -11%

Underlying EBITDA 7,121 8,165 -13%

NPAT 1,008 2,141 -53%

Division Revenue EBITDA MarginPerformance $’000 $’000 %

($‘000) FY13 FY12 Change

3

0

5,000

10,000

15,000

20,000

25,000

30,000

2011 2012 2013

$'00

0s

Financial Year

Historical Revenue and EBITDA

Revenue

EBITDA

Operatingcashflow

* Proforma results, no information available for cashflow

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Business reinvestment to drivefuture growth

• Building capability across a number of functionalareas with an increase of ~ 40% of the workforce

• Data technology platform

• Data aggregation strategy and assets

• Growth in data and mobile product anddevelopment teams

• Improving consumer and real estate agencyengagement through enhancements ononthehouse.com.au

• Development of a real estate agency data product

• Continued development and customisation of ouradvertising media products and data solutions tofinancial institutions

• Infrastructure platforms for financial services andreal estate customers

-200400600800

1,0001,2001,400

2012 2013

$'00

0s

Financial Year

Product & Platform

RES

COD

Data

4 Information in addition to IFRS measures included in this report has been used for consistency and user readability. The measures havebeen derived from audited information contained in the financial statements.

0

5,000

10,000

15,000

20,000

25,000

2012 2013

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0s

Financial Year

Real Estate Solutions SegmentHistorical Revenue and EBITDA

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Generating strong cash flows

($'000) FY13 FY12 Change

Cash 4,187 3,066 +37%

Investments - 3,962 -100%

Goodwill andintangibles 66,287 59,618 +11%

Total assets 74,584 70,247 +6%

Total borrowings (3,842) (2,331) +65%

Total equity 62,229 61,287 +2%

($'000) FY13 FY12 Change

Operating cashflow 7,232 6,422 +13%

Investing cashflows (7,087) (5,782) +23%

Financing cashflows 976 679 +44%

Net change in cash 1,121 1,319 -15%Cash at beginning ofperiod 3,066 1,747 +76%

Cash at end of period 4,187 3,066 +37%

• Strong operating cash flow of $7.2m (up 13%)enabled the Group to:

• fund $1.2m of REAN and Residex acquisitions

• repay $1.7m of debt

• pay a $0.5m dividend in November

• increase the Group’s investment in productdevelopment - $2.5m (up 53%)

• Closing cash balance up 37% to $4.2m

• Positive net cash position at 30 June 2013

5 Information in addition to IFRS measures included in this report has been used for consistency and user readability. The measures havebeen derived from audited information contained in the financial statements.

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Continued FY13 top line growthenables business reinvestment

Consumer division starting toleverage its foundations

Real Estate Solutions divisiongrowing recurring revenues

The Zillow story

Onthehouse is uniquelypositioned to grow

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-

1

2

3

4

5

6

7

Mill

ions

Source:* Nielsen Market Intelligence - Jan 2013+ Adapted from Nielsen Answers - Jan 2013 ̂Google Analytics - June 2013 - may include duplication

~ Excludes Agent Sites# Adapted from Nielsen Answers and Google Analytics - Jan 2013 - may include duplication

*Source: Nielsen Answers: NetView Hybrid – Jan 2013

• #1 Consumer Property DataWebsite

• National Reach Media Network• Premium Qualified Audience• Surpasses Domain on a

national reach basis

Number #1 Consumer Property Data PortalNumber #2 Real Estate Media Network

7

-

2

4

6

8

10

12

Onthehouse.com.au* Home Price Guide My RP Data

100,

000s

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Highly Engaged Audience–Content Driven

Traffic Growth–Unique VisitorsConsumer Online –excluding agent sites

Consumer Online Revenue Growth

Bank Deals Secured

REAN Integrated

Lead GenerationCommencing

Victorian Dataissues resolved

GuestimateImprovements

User EngagementIncreased

0

250

500

750

1,000

1,250

1,500

1,750

2,000

2,250

2011 2012 2013

$000

’s

800 900

1,000 1,100 1,200 1,300 1,400 1,500 1,600

Uniq

ueVi

sits (

‘000)

Source: Google Analytics – August 2013 – may include duplications

1,000

1,500

2,000

2,500

3,000

3,500

Jan-

12

Mar-1

2

May-1

2

Jul-1

2

Sep-

12

Nov-1

2

Jan-

13

Mar-1

3

May-1

3

Jul-1

3

Num

ber o

f Rep

orts

('000

)

Source: onthehouse.com.au Internal tracking - August 2013

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Source: Financial Statements

Traffic and engagement driving revenueF

or p

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Banking Sponsorships Delivered

• CBA major sponsorship forthe consumer propertyportal onthehouse.com.au

• Westpac Group majorsponsorship of theOnthehouse iPhone andnew Android apps

• Westpac Group will beinvesting in a strategicmedia integration playacross Onthehouse’s RealEstate Ad Network

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Continued FY13 top line growthenables business reinvestment

Consumer division starting toleverage its foundations

Real Estate Solutions divisiongrowing recurring revenues

The Zillow story

Onthehouse is uniquelypositioned to grow

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Real Estate AgencyTransitioning from hunting new doors to upselling & innovation

Revenue, earnings and cashflow generationcontinued to scale during FY13

• RES Revenue up 14% to $22.1m

• EBITDA up 26% to $16.5m

• Monthly yield increased by 6% from $408 to$431 per office

• Growth will be achieved by bundling ourproducts and solutions and upselling to ourexisting and substantial customer base, withresulting reduction in price per product butincreasing yield per office “doors”

• Content empowered features, commencing withRE:Search data product is expected to furtherfuture sales growth

• As such, this transition will see flatter growth in“new doors” in the short term but increasingyield

$-

$50

$100

$150

$200

$250

$300

$350

$400

$450

$500

3,000

3,200

3,400

3,600

3,800

4,000

4,200

FY 11 FY 12 FY 13

Mon

thly

Yiel

d

Ave

rage

No.

ofO

ffic

es

Offices v Yield

Offices

Monthly Yield

0

5,000

10,000

15,000

20,000

25,000

2012 2013

$'00

0s

Financial Year

Real Estate Solutions SegmentHistorical Revenue and EBITDA

Revenue

EBITDA

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Continued FY13 top line growthenables business reinvestment

Consumer division starting toleverage its foundations

Real Estate Solutions divisiongrowing recurring revenues

The Zillow story

Onthehouse is uniquelypositioned to grow

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The Story

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Zillow’s Strategy

14 Zillow 2013

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Zillow Premier Agent

15 Zillow 2013

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Timeline

• Launch• Yahoo

Partnership• Open API

Launched

• NeighborhoodPages

• Listings Feed

• MortgageMarketplace

• Feature Listings• Zillow Ad

Network• Zillow Advice

• iPhone App• Video Training

Centre

• First Real EstateListings Partner

• Selling Ads withYahoo

• Partners withApartments.com

• Launch AgentReview

• Yahoo-Zillow RealEstate Network

• Rent Zestimates• IPO• Buys Software Co’s

• NeighborhoodAdvice

• Zillow Rentals• Buys BuyFolio• Buys Hot-Pads

• Zillow Digs• Buys StreetEasy

0

50000

100000

150000

200000

250000

300000

2006 2007 2008 2009 2010 2011 2012 2013* 2014* 2015*

Marketplace Revenue

Display Revenue

16*Zillow Estimates

$3.9 billionMarket Cap

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Data sources: USA vs Australia

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MLS

GovernmentData

MLS*

MLS*

Sold Records

Listing Records

StateGovernments

Agents

HomeOwners

Agents

Third Parties

Agents

HomeOwners

Agents

Third Parties

StateGovernments

*Multi-Listing Services

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Continued FY13 top line growthenables business reinvestment

Consumer division starting toleverage its foundations

Real Estate Solutions divisiongrowing recurring revenues

The Zillow story

Onthehouse is uniquelypositioned to grow

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Onthehouse – What we doWe help Australians make informedproperty decisions by empowering themwith freely accessible information andfacilitating introductions to relevant localexperts

To achieve that purpose, we work withproviders of property related businesses, byassisting them:

With introductions to Australian homeowners, seeking local expertise; and

Operate their businesses more efficientlyby offering a one-stop-shop

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First Generation – Classified Listings

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Second Generation – Informed Property DecisionsF

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5% vs 95% of Australian Properties

Classified Model Marketplace Model

Properties for sale Every Property in Australia

Mainly buyers searching for a property

Homeowners interested in data- Their Property Value- Their Suburb Growth

- Renovation opportunities

Some vendors doing research with limited listings data “Serious” Buyers looking for facts and logical intelligence

Lots of window shoppers Investors looking for opportunities and facts to make theirdecisions

Increasing fragmentation across variouschannels Unique model in Australia

One off transactional relationship Data & Intelligence creates a longer termrelationship

Mortgage mainly in place Mortgage options form part of the decision

Too early for DIY & Renovations Renovation & DIY options also become a factor indecisions

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Target Market is enormous and fragmented

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Renters~$2b

OPPORTUNITY

Source: IAB online Ad ExpenditureReport June 2013, PwC Outlook AustralianEntertainment & Media 2012-2016,Frost and Sullivans 2010 Report

Real Estatesoftware

& data

Living database13.5 million properties

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OTH StrategyBuild great

products + supplyrich real estate

data that attractshome owner

audience

Invite agents toconnect with audience -

for free

Offer agents premiumservices to increase

engagement

Provide software tools + content + aggregateindustry data to improve agents success

Iterate onmonetisation

model

Reinvest profits inproduct, marketing

and data

$

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Fred and Janeleave their rentedapartment behind

and begin theirjourney

The journey to financialindependence

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Buyingtheirfirst

home

Each point of the journey providesopportunities to connect

Agent Bank Lawyer Retail

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Time torenovate

Each point of the journey providesopportunities to connect

Bank Builder Designer

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With more engagement,intelligence about the consumer

grows in size and monetary value …

Sell & upscale

… and our data on eachproperty grows with it

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FirstHome

At every step ofthe way onthehouse

can provide answers andspark conversations

between professionalsand more informed

and engagedconsumers

Renovate

Sell

UpscaleInvest

Retire

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Rent

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Empowering Agencies

Customise theproduct mix tosuit your needs

and budget.

CLIENT MANAGER

MARKETING COLLATERAL

REAL ESTATE CONTENT

SALES TRAINING

DATA ENHANCEMENT SERVICES

MANAGEMENT DASHBOARDS

MANAGEMENT TRAINING

SUPPLIER COST REDUCTIONS

ADME

Database Building

Top of mind awareness

Differentiate and build

Up skill and motivate sales teams

Add value to your contact database

Track and optimise sales activity

How to grow your business

Reduce your business operating costs

Generate additional revenue

DATABASEVALUE

& PROFITS

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Promoting LocalExpertise

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Maximising Agents’ dollar productive time

LOCAL EXPERTDrive Awareness

& Positioning

MOBILE AGENTPerfect

Presentation

PORTAL PUSHCreate Broad

ConsumerInterest

WEBCHOICEWEBSITESShowcase &

Profile Yourself

ONTHEHOUSEWEBSITE

Interest from“Serious”Vendors

RE:SearchContent Answer

to ConsumerQuestions

CALCULATEDPROPERTY

VALUESConversation

Starter

PROPERTYRESEARCHCONTENT(eg RESIDEX)

Content to CreateConsumerQuestions

Customise theproduct mix tosuit your needs

and budget.

EmpoweringAgents to talk to

empoweredconsumers

Giving Agents backthe time to buildrelationships and

close deals

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Monetising Agents’data, traffic andrevenue share

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FY2014 Strategic Priorities

Grow Audience

Grow EmergingMarketplaces

Revenue

Bundled SalesPenetration inTarget Markets

Data Aggregationin Target Markets

Grow MediaRevenue

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Questions

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Appendices

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Amortisation

Information in addition to IFRS measures included in this report has been used for consistency and user readability. The measures have been derived from audited informationcontained in the financial statements.

The Group's accounts include substantial intangible amortisation chargeswhich predominately arise from accounting for the acquisition ofsubsidiaries and the amortisation of internally developed software. Thetable below shows the expected ongoing amortisation in respect of thebalance as at 30 June 2013.

$'000sFY13

Carrying value FY14 FY15 FY16 FY17 FY18FY19

and beyond

Data 4,148 495 495 495 495 495 1,673

Customer contracts andrelationships 9,467 1,558 1,340 1,340 1,340 1,340 2,549

Goodwill 43,267 - - - - - -

Software

Acquired 5,583 1,782 1,739 1,611 451 1 -

Developed 3,370 826 826 826 635 257 -

Other intangibles 452 25 25 25 25 25 327

Total 66,287 4,686 4,425 4,297 2,945 2,118 4,549

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20 months from IPO to now

36 Zillow 2013

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Empowered Consumers

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Target Market is enormous and fragmented

$6.9 billion1

$11.1 billion2

$4.9 billion3

$11.3 billion3Sources: 1) Borrell Associates 2012, 2) BorrellAssociates 2012, American Housing Survey,

American Community Survey, NationalApartment Association, Zillow, 3) IBIS World Inc.

2012/2013, Zillow38 Zillow 2013

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DisclaimerSome of the information contained in this presentation contains “forward-looking statements” which may not directly or exclusively relate tohistorical facts. These forward-looking statements reflect OnthehouseLimited’s current intentions, plans, expectations, assumptions and beliefsabout future events and are subject to risks, uncertainties and otherfactors, many of which are outside the control of Onthehouse HoldingsLimited.

Important factors that could cause actual results to differ materially fromthe expectations expressed or implied in the forward-looking statementsinclude known and unknown risks. Because actual results could differmaterially from Onthehouse Holdings Limited’s current intentions, plans,expectations, assumptions and beliefs about the future, you are urged toview all forward-looking statements contained herein with caution.

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