Full Year Results

for the year ended 31 December 2012

1 March 2013

Disclaimer

This presentation may contain forward-looking statements, including ‘forward-looking statements’ within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Group. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Further details of potential risks and uncertainties affecting the Group are described in the Group’s filings with the London Stock Exchange including the Prospectus. These forward-looking statements speak only as of the date of this presentation.

This presentation and a press release will be posted on the investor section of the Rightmove website.

1

Highlights

• Revenue up 23% to £119.4m (2011: £97.0m)

• Underlying operating profit up 26% to £87.5m (2011: £69.4m)

• Underlying basic EPS up 31% to 65.7p (2011: 50.3p)

• £86.8m returned to shareholders through dividends and share buybacks (2011: £65.1m)

• Final dividend of 14.0p (2011: 11.0p) taking full year dividend to 23.0p (2011: 18.0p) up 28%

• Site traffic up 18% to 11.0bn pages (2011: 9.3bn pages)

• Average revenue per advertiser up 19% to £529 per month (2011: £443 per month)

Source: Rightmove

Information, unless otherwise stated, is presented on a continuing operations basis before share-based payments £2.4m (2011: £2.3m) and NI on share-based incentives £2.0m (2011: £4.4m) and no related adjustment for tax

2

Revenue and costs

3

Revenue Costs

Source: Rightmove

£ M

illio

ns

2009 2010 2011

80

70

60

50

40

30

20

10

0

90

100

64.5

81.6

97.0

40

30

20

10

0 £

Mill

ion

s

2012 2009 2010 2011

31.9

23.9 25.0

27.6

2012

119.4

110

120

Profit and margin

4

Underlying operating profit

Source: Rightmove

Margin 62.9% 69.4% 71.5% 73.3%

70

60

50

40

30

20

10

0

£ M

illio

ns

2009 2010 2011

40.6

56.6

69.4

2012

87.5

80

90

Income statement

5

Source: Rightmove

2012 2011

£m £m

Revenue 119.4 97.0

Operating costs (31.9) (27.6)

Underlying operating profit 87.5 69.4

Underlying operating profit margin 73.3% 71.5%

IFRS 2 charge (2.4) (2.3)

NI on share-based incentives (2.0) (4.4)

Operating profit 83.1 62.7

Net financial income 0.1 -

Profit before tax 83.2 62.7

Tax (20.6) (16.7)

Profit from continuing operations 62.6 46.0

Profit from HLL (net of tax) - 0.5

Profit for the year 62.6 46.5

Year ended 31 December

Balance sheet

6

Source: Rightmove

2012 2011

£m £m

Property, plant and equipment 1.7 1.1

Intangible assets 1.6 1.3

Amounts held in Escrow 1.7 1.7

Deferred tax assets 9.7 10.7

Total non-current assets 14.7 14.8

Trade and other receivables 18.4 15.0

Cash and cash equivalents 7.1 21.8

Total current assets 25.5 36.8

Trade and other payables (23.7) (20.9)

Income tax payable (8.9) (6.0)

Total current liabilities (32.6) (26.9)

Provisions being non-current liabilities (0.1) -

Net assets 7.5 24.7

Share capital 1.1 1.1

Retained earnings/Other reserves 6.4 23.6

Total equity 7.5 24.7

As at 31 December

EPS, share buybacks and dividend

• Underlying basic EPS up 31% to 65.7p (2011: 50.3p) • 4.5m shares bought back and cancelled at an average price of 1470p

• Cash of £7.1m (2011: £21.8m)

• Total cash returned during the year of £86.8m (2011: £65.1m)

• Final dividend of 14.0p (2011: 11.0p) taking full year dividend to 23.0p (2011: 18.0p) up

28%

7

Leadership with home hunters

Page impressions

8

7

6

5

4

3

2

1

0

Bill

ion

s

2009 2010

9

2011

10

6.5

7.6

9.3

Market share of the top four UK property websites by pages viewed

2012 2011

Rightmove 82% (84%)

Zoopla 11% (7%)

Findaproperty 4% (6%)

Primelocation 3% (3%)

8

Sources: Rightmove data; Hitwise UK website page impressions

2012

11.0

13

12

11

Leadership with advertisers

• Overall membership unchanged

• Growth came from UK and overseas agents, with declines in new homes developments

• Low rates of new business formation and low rates of exits from industry

• No obvious change in trends for 2013 as compared to 2012

9

Source: Rightmove

Total membership at end of 2012 18,270 unchanged on 2011

Agents

Overseas

0 5,000 10,000 15,000

+166

-232

+60

15,244

2,436

590

Developments

Membership* change during 2012

* Number of estate agency, lettings only, overseas offices and new homes developments

Leadership in advertising spend

• ARPA up 19% for 2012 over 2011

• Very strong growth in additional spending on advertising products, up 50% on 2011, with membership/listing spend up 10%

• Display advertising products (including Local Valuation Alert (LVA)) performed strongly with a run-rate of £1.3m per month by late 2012, up 75% on a year earlier

• Further healthy uptake of and upgrading within the Flexible Membership Offer (now simplified as a set of membership tiers)

10

Source: Rightmove

4000

3000

2000

1000

0

£ p

er o

ffic

e /

dev

elo

pm

ent

per

yea

r

2009

£308

5000

2010

£379

6000

2011

£443

2012

£529 / month

7000

Average Revenue per Advertiser (ARPA)

£26m

£24m

£22m

£20m

£18m

£16m

£14m

£12m

£10m

£8m

£6m

£4m

£2m

£0

Increasing additional spending R

EVEN

UES

PRODUCT

LAUNCH

PROPERTY PRODUCTS

2007

2011

2012

E-MAIL CAMPAIGNS

2008

2011

2012

DISPLAY PRODUCTS

2010

2011

2012

LOCAL VAL. ALERTS

2012

2012

MICROSITES (JANUARY RUN-RATE)

2013

2013

11

Summary

• Average spend per advertiser grew strongly in 2012

• Housing market conditions remain tough and at this stage flat membership seems the most sensible assumption

• Record levels of traffic at the start of 2013

• Continue to target £60 to £70 increase per year in average monthly spend per advertiser

12

Strategy

• UK property advertising market

• Organic revenue growth from increased spend by our advertisers

• Return all excess cash generated to shareholders, through dividends and share buy backs

13