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SAI Global LimitedABN: 67 050 611 642

Half-Year Results PresentationHalf-Year Ended 31 December 2006

ASX Code: SAI

APPLIED INFORMATION SERVICES

“SAI builds a platform for future growth” Ross Wraight

Chief Executive

15 February 2007

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Agenda

1. Results & Highlights

2. Financial Overview

3. Operational Performance

4. Midi Acquisition

5. Outlook

6. Q and A

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1. Results & Highlights

Ross Wraight

Chief Executive Officer

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Financial Outcomes

– Underlying Business Performance•Revenue1 up 46.7% to $100.8 million, •EBITDA up 50.6% to $19.3 million

– AIFRS Reported Results•NPAT up 38.1% to $8.1 million, •EPS up 3.6% to 5.7 cents

– Underlying Cash Earnings•Cash earnings up 35.5% to $12.3 million, •Cash earnings per share up 1.2% to 8.6 cents

1. Excludes interest income

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Financial Outcomes

• Cost to income ratio down to 82.6% from 83.2%, despite increased investment in resources and infrastructure

• Operating cash flow strong at $12.3 million up 60.6% from $7.7 million

• Dividend per share of 5.2 cents up from 5.0 cents last year. Franking reduced to 85%.

• Total dividend payment of $7.5 million up 32.4%

• Net assets up 97% from $97 million to $190.5 million

• Conservatively geared balance sheet - 14.4% at 31 December, subsequently increased to 32.3% following the acquisition of Midi

• Cash in the bank of $33 million at 31 December, subsequently reduced to $17 million following the acquisition of Midi

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Consolidated Trends

Revenue

0

50

100

150

200

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

EBITDA

0

6

12

18

24

30

36

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

NPAT

0.0

3.0

6.0

9.0

12.0

15.0

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

EBITDA Margin

0.0%

6.0%

12.0%

18.0%

24.0%

FY01 FY02 FY03 FY04 FY05 FY06 1H07

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Business Performance

• Strong Publishing & Assurance performances and solid contributions from Compliance and Professional Services, drove the Company’s continued strong revenue and profit growth

• Organic growth edging towards 8% - acquisitions enhancing overall performance.

• Operational focus on integration, - establishing effective corporate infrastructure and profile – finance, IT, HR, brand/marketing- divisional integration – business systems, products and

organisation

• Business model refined

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SAI Global Business Model

Distribution DatabasesSearch

Apply Business SolutionsProvide Information

ConformityAssessment

- Product - Food - Systems

Audit Effectiveness

PUBLISHING

Supported by TRAINING and BUSINESS IMPROVEMENT SOLUTIONS (Professional Services)

Standards

Legislation

Databases

Property

Other Technical

Alerts

News feeds

Monitoring

Awareness and understanding

COMPLIANCE ASSURANCE

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Geoff Richardson

Chief Financial Officer

2. Financial Overview

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Financial Summary

6 Months 1H07 1H06 Change

$M $M %

Revenue1 100.8 68.7 46.7Expenses (81.5) (55.9) 45.8EBITDA 19.3 12.8 50.6

Depreciation (1.8) (1.3) 42.0Amortization (4.2) (2.3) 79.0EBIT 13.3 9.2 44.5Finance costs - net (1.7) (1.2) 47.3Profit before tax 11.6 8.0 44.1Tax expense (3.5) (2.1) 60.5

Profit after tax 8.1 5.9 37.9

1 Excludes interest income

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Reconciliation of NPAT to Cash Earnings

1H07 1H06 Change$'000s $'000s %

AIFRS reported NPAT 8,126 5,894 37.9%

Non-cash items:

Equity based remuneration 794 682

Amortization of identifiable intangible assets 4,228 2,362

Unwind of discount on earn-out 350 511

5,372 3,555

Tax impact of non-cash items1 (1,221) (390)

Cash earnings2 12,277 9,059 35.5%

Cash earnings per share (cents) 8.6 8.5 1.2%

1. The amount by which the actual tax payments in respect of the half-year ended 31 December 2006 will exceed the income tax expense reported. The income tax expense reported includes movements in deferred tax balances and over provisions from prior years.

2. No adjustment is made for depreciation as this charge is deemed to be indicative of the annual capital investment made by the group.

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Balance Sheet

31-Dec-06 Post Midi* 30-Jun-06$M $M $M

Cash 33.0 17.0 49.6Intangibles 248.5 314.5 244.5Other assets 61.4 61.4 58.2Total assets 342.9 392.9 352.3

Debt 65.0 108.0 65.5Deferred revenue 34.3 41.3 34.2Other liabilities 53.1 53.1 60.0Total liabilities 152.4 202.4 159.7

Net assets 190.5 190.5 192.6

Net gearing 14.4% 32.3% 7.6%

Net asset backing (cents) 132.8 132.8 134.5

*Indicative only, pending completion of the purchase price allocation exercise.

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3. Operational Performance

Tony Scotton

Chief Operating Officer

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Business Publishing

6 Months 1H07 1H06 Change$M $M %

Revenue 36.7 22.3 64.2

EBITDA 11.7 6.7 75.3

EBITDA margin (%) 31.9% 29.9% 6.7

2005 1st half

2005 1st half

Revenue

0

20

40

60

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

EBITDA

0

5

10

15

20

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

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Business Publishing

• Continued strong revenue and profit growth

• Acquisitions and solid organic growth in Standards Publishing and Property Information

• EBITDA margins higher at 31.9%

• Operational Focus– Migration to single web shop delivery platform commenced– Standards Publishing, Anstat, and ILI being fully integrated– Product cross-selling commenced – Search commenced for Global Head of Division

• Revenue and profit growth expected to continue in second half

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Compliance Services – as reported

6 Months 1H07 1H06 Change$M $M %

Revenue 10.1 7.3 38.6

EBITDA 1.6 1.5 10.6

EBITDA margin (%) 16.3% 20.4% (20.0)

2005 1st half

2005 1st half

Revenue

0

5

10

15

20

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

EBITDA

0

1

2

3

4

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

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Compliance Services - analysed

6 Months 1H07 1H06 Change$M $M %

Revenue as reported 10.1 7.3 38.6

Revenue deferred in period 1.2 0.6 88.7

Total business booked 11.3 7.9 43.1

EBITDA as reported 1.6 1.5 10.6

EBITDA margin in revenue deferred 0.7 0.3 113.8

EBITDA of booked business 2.3 1.8 29.2

Normalisation adjustments 1 0.1 (0.1)

Normalised EBITDA 2.4 1.7 42.9

Normalised EBITDA margin (%) 21.6% 21.6% _

1. Relates to sales reversed in current half which were previously reported in prior period.

2005 1st half

2005 1st half

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Compliance Services

• Results include Easy i and the whole Lawlex business

• Strong revenue growth due to high organic growth rates for all compliance solutions

• Profit growth not reflecting sales increase because of addition of sales resources to drive growth and increase in deferred revenue

• Integration a key priority especially following Midi acquisition– Single international organisation being established– Combining LMSs in Easy i and Midi– Product cross selling commencing

• Continuing development of new range of products and services

• Stronger second half expected

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Assurance Services

6 Months 1H07 1H06 Change$M $M %

Revenue 43.2 28.4 52.0

EBITDA 6.1 4.6 30.3

EBITDA margin (%) 14.0% 16.4% (14.6)

2005 1st half

2005 1st half

Revenue

0

20

40

60

80

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

EBITDA

0

4

8

12

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

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Assurance Services

• Continued revenue and profit growth, driven by acquisitions and organic growth in core business.

• EFSIS exceeding acquisition assumptions but at lower margins than core business

• Products maturing in developed markets - focus on new product development.

• Global Head of Assurance commenced

• Closed key geographic gaps– Joint Venture in Japan– Joint Venture in China– Certo acquisition in Italy

• Solid second half expected

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Professional Services

6 Months 1H07 1H06 Change$M $M %

Revenue 10.8 10.4 3.1

EBITDA 0.8 0.7 21.0

EBITDA margin (%) 7.9% 6.7% 17.9

2005 1st half

2005 1st half

Revenue

0

5

10

15

20

25

30

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

EBITDA

(1)

0

1

2

3

FY01 FY02 FY03 FY04 FY05 FY06 1H07

A$M

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Professional Services

• Small increase in revenue, but expanded EBITDA and margins achieved through restructuring initiatives.

• Standards training continues to be an important support activity to other businesses.

• Continued diversification away from purely standards related services towards business improvement products

• e-learning products showing encouraging growth

• Similar second half performance expected

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4. Midi Acquisition

• Completion occurred on 19 January 2007

• Midi is one of the leading compliance services businesses in the USA • Purchase price of US$45M, funded by new long-term debt of US$30M

and from existing cash reserves

• Results will be consolidated from 19 January 2007, minimal impact on FY07 EPS expected.

• Midi has an established annuity revenue model with high growth rates and a blue chip customer base.

• Excellent strategic fit with SAI’s other compliance assets which are to be combined under the SAI brand

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5. Outlook

• Demand for SAI’s products and services remains robust

• More acquisitions possible

• Directors expect continued dividend growth from current levels, having regard to future business conditions and opportunities, the level of retained earnings and the cash flow requirements of the company

• Franking capability is reducing. The directors expect the next two dividends to be 85% franked.

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Revenue: Revenue growth to exceed 30%. Impact of any further acquisitions as per announcements

EBITDA: EBITDA growth in excess of 40%

Amortization: $8.7m - $9.1m (including Publishing License Agreement), depending on exchange rate movements

Discount on earn-out: circa $750K

Tax Rate: 30%.

Earnings per share: Continued growth

5. Outlook

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6. Q & A