Online Real Estate Advertising

Online Real Estate Advertising FY 2008 - Results Presentation realestate.com.au Ltd 25 www.rea-group.com

FY08 was the best year in the history of REA Group REA GROUP KEY METRICS Revenues ($m) EBITDA ($m) Closing number of Paying Agents $156 22478 Unique Browsers (m) 7.1 8.2 $107 17011 $37 5.0 $60 $24 10713 $19 $33 $3 $6 $13 5207 6414 1.0 1.8 FY04 FY05 FY06 FY07 FY08 FY04 FY05 FY06 FY07 FY08 FY04 FY05 FY06 FY07 FY08 as at June FY04 FY05 FY06 FY07 FY08 as at June REA Group - FY2008 Results Presentation 2

The REA Group continues to deliver strong year-on-year growth across all key metrics FINANCIAL PERFORMANCE OF THE REA GROUP Financial Comparative Data in $ 000 Revenues from Services FY 2004 18,997 FY 2005 33,416 FY 2006 60,391 FY 2007 107,293 FY 2008 155,633 Growth 45% Operating Expenses (16,274) (26,951) (47,048) (83,793) (119,058) 42% EBITDA 2,723 6,465 13,343 23,500 36,575 56% EBITDA Margin 14% 19% 22% 22% 24% Depreciation and Amortisation (369) (1,051) (2,297) (4,974) (7,336) 47% EBIT 2,354 5,414 11,046 18,526 29,239 58% Net Interest (Expense) / Income 123 206 (462) (69) (139) 101% Earnings Before Tax 2,477 5,620 10,584 18,457 29,100 58% Income Tax (Expense) 2,472 (3,943) (7,469) (13,337)* 79% Minority Interest (net of taxes) 1,581 4,076 6,581 61% Profit attrib. to members of parent 2,477 8,092 8,222 15,064 22,344 48% Closing no of Employees (FTE) 106 159 294 479 667 39% Closing no of Paying Agents 5,207 6,414 10,713 17,011 22,478 32% * Income Tax Expense: This figure relatively high for FY0& (and FY07) as most of the overseas tax losses valued at $4,281k (2007: $2,723k) are not recognised in these accounts. Source: The REA Group REA Group - FY2008 Results Presentation 3

The REA Group operates a global network of real estate websites LOCATIONS OF WEBSITE OPERATIONS Source: The REA Group REA Group - FY2008 Results Presentation 4

77% of total revenues were derived from Real Estate Agents REVENUE SPLIT BY CUSTOMER FOR FY2008 $14.6M (9%) DEVELOPERS REAL ESTATE AGENTS $120.6M (77%) $19.6M (13%) THIRD PARTIES $0.8M (1%) CONSUMERS Total = $155.6M Source: The REA Group REA Group - FY2008 Results Presentation 5

Key driver of the growth in revenues and profits is Australia COUNTRY SEGMENT INFORMATION Country in $ 000 Revenue EBITDA Margin FY 2008 Australia 120,719 61,946 51% United Kingdom 22,071 (10,057) (46%) Italy 5,401 (2,819) (52%) Luxembourg 3,532 1,054 30% Other countries 3,910 (3,602) (92%) Loss of associate (homeguru.com.au) (185) Unallocated overhead (9,762) Total 155,633 36,575 24% FY 2007 Australia 85,745 39,314 46% United Kingdom 17,891 (8,180) (46%) Italy 1,337 100 7% Luxembourg 1,227 273 22% Other countries 1,093 (107) (10%) Loss of associate (homeguru.com.au) (226) Unallocated overhead (7,674) Total 107,293 23,500 22% Source: The REA Group REA Group - FY2008 Results Presentation 6

The Australian business delivered 78% of revenues (80% in 2007) REVENUE SPLIT BY COUNTRY FOR FY2008 UNITED KINGDOM Residential sites Print publications $5.4M (3%) ITALY Residential site AUSTRALIA Residential sites Commercial sites Holiday Rental sites Agent office solutions $120.7M (78%) $22.1M (14%) $3.5M (2%) LUXEMBOURG Residential site Commercial site Print publications Agent office solutions Total = $155.6M $3.9M (3%) OTHER Belgium Germany France New Zealand Hong Kong Rest of World Source: The REA Group REA Group - FY2008 Results Presentation 7

Key highlights from the Group s Australian operations AUSTRALIA ITALY UNITED KINGDOM LUXEMBOURG OTHER REA Group - FY2008 Results Presentation 8

Australian agents expect the shift to online advertising to continue Questions for: Simon Khouri, Director, Barry Plant, Point Cook Q. Simon, how much of Barry Plant Point Cook s marketing budget is spent online? A. 85 to 90 percent. In our first year, 2006, we didn t advertise in print at all, and out of 78 Barry Plant offices in Victoria we finished 10th. We wrote over $2 million in commissions. Q. What kind of results is the web generating for you? A. 85 percent of our inquiry comes from realestate.com.au. We send a survey to buyers; they always tick the internet box. Source: REA Group REA Group - FY2008 Results Presentation 9

The Australian business has delivered significant growth across all key dimensions AUSTRALIA AT A GLANCE 10,000 9,000 Paying Agents 9,190 $900 $850 ARPA (Average revenue per agent) $885 8,000 $800 7,000 $750 6,000 $700 5,000 $650 4,000 $600 $550 3,000 $500 2,000 $450 1,000 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jun-08 $400 Jul-05 Nov-05 Mar-06 Jul-06 Nov-06 Mar-07 Jul-07 Nov-07 Mar-08 Jun-08 residential online advertising commercial online/ advertising Key Information Revenues grow from $86m to $121m EBITDA grows from $39m to $62m Significant increase in EBITDA margin from 46% to 51% Average revenue per agent per month grew from $667 to $885 holiday rentals online/ advertising All sites are leaders in their field Number of agents using one of the sites grew from 8,410 to 9,190 as at 30 June 08 realholidays.com.au launched in August 2007 REA Group - FY2008 Results Presentation 10

realestate.com.au continues to be the leading Australian realestate site 8,500 8,400 Paying Subscribers 8,373 440,000 420,000 Listings 432,000 8,300 8,200 400,000 8,100 380,000 8,000 7,900 360,000 7,800 340,000 7,700 7,600 320,000 7,500 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 300,000 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 Unique Browsers realestate.com.au domain.com.au Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Key Information #1 Australian residential real estate site with revenues of $106m Estimated 95% of agents use the site Significant growth in Unique Browsers from 3.6m to more than 4.1m Gap to number 2 player has widened to more than 50% Depth products represent 38% of the agent spend (31% in 2007) Property developer and third party advertiser segments continue to grow A new, improved look and feel of the site launched homesite.com.au integrated into realestate.com.au Retirement section launched on realestate.com.au Source: Nielsen//Netratings, REA Group REA Group - FY2008 Results Presentation 11

realcommercial.com.au has gained significant ground as the number one commercial realestate site in Australia 1,300 Paying Subscribers 100,000 Listings 1,250 1,182 95,000 86,150 1,200 90,000 1,150 85,000 1,100 80,000 1,050 75,000 1,000 70,000 950 65,000 900 60,000 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 300,000 250,000 200,000 Unique Browsers Key Information #1 Australian commercial real estate site with revenues of $10m Estimated 95% of agents use the site Significant growth in Unique Browsers to 250k Merger with number 2 in the market, propertylook Property developer and third party advertiser segments continue to grow A new, improved look and feel of the site launched 150,000 100,000 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Source: Nielsen//Netratings, REA Group REA Group - FY2008 Results Presentation 12

Key highlights from the Group s overseas operations AUSTRALIA ITALY UNITED KINGDOM LUXEMBOURG OTHER REA Group - FY2008 Results Presentation 13

Casa.it continues to lead in the emerging Italian market ITALY AT A GLANCE 6,000 5,750 5,500 Paying Agents 5,514 Market share Acquired in Feb 07 19% 5,250 5,000 4,750 4,500 4,250 4,000 Not on casa.it 48% Added Feb 07 to Jun 07 4% Added in FY08 13% 3,750 3,500 3,250 3,000 Feb-07 Apr-07 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Total = 15,000 agents (est.) Trials 16% High brand awareness in the population Key Information 34% recognition of the brand as online advertising portal for real estate According to Nielsen/NetRatings, total UB s range between 700k to 900k Paying agents increased from 3,511 to 5,514, in the largest annual increase of subscribers to any portal in the history of the REA Group Additional 2,412 agents on trial subscriptions A significant growth in advertising revenues from property developers and third parties Site relaunch in March/April resulting in a new look and feel of the site!"#" values in %, double naming possible Source: Oto Research, The REA Group REA Group - FY2008 Results Presentation 14

Propertyfinder with its sister sites continue to make progress in the UK market and have clearly moved into second place UNITED KINGDOM AT A GLANCE 6,000 5,500 Paying Agents 5,633 Market share As per Jun 06 21% 5,000 4,500 4,000 Not on PF 55% Added in FY07 8% 3,500 3,000 2,500 2,000 Jan-06 Apr-06 Jul-06 Oct-06 Jan-07 Apr-07 Jul-07 Oct-07 Jan-08 Apr-08 Jun-08 Trials 3% Total = 13,500 agents (est.) Added in FY08 13% 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 UK Unique Browsers* rightmove.co.uk findaproperty.com Feb-07 Apr-07 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 * Based on panel data and estimates UK visitors only ** Includes hotproperty.co.uk as of April 2008 Source: Comscore, The REA Group primelocation.com propertyfinder.com** Key Information Growth in propertyfinder UBs from 1.6m to almost 2m Acquisition of hotproperty.co.uk with 400k UB s per month Paying agents increased from 3,919 to 5,633 (501 via hotproperty) New Country CEO appointed in January 2008 (Gillian Kent) Significant growth in advertising revenues from property developers and third parties Relaunch of newly designed website in July 2008 Acquisition of estate agent directory ukpropertyshop.co.uk in July 2008 REA Group - FY2008 Results Presentation 15

The Luxembourg market is small but very profitable LUXEMBOURG AT A GLANCE 500 450 Paying Agents 441 Not on athome 20% Market share 400 Added in FY08 14% As per Feb 07 60% 350 300 Feb-07 Apr-07 Jun-07 Aug-07 Oct-07 Dec-07 Feb-08 Apr-08 Jun-08 Added between Feb 07 and Jun 07 6% Total = 550 agents (est.) 140,000 120,000 100,000 80,000 60,000 40,000 Luxembourg Unique Browsers Key Information Profitable operation (EBITDA margin 30%) Market leader in Luxembourg Very low agent churn rate (~0.2% per month) Launch of renovation site (homesolutions.lu) 20,000 athome.lu (does not include content partners) 0 immostar.lu Jan-07 Mar-07 May-07 Jul-07 Sep-07 Nov-07 Jan-08 Mar-08 May-08 Jun-08 * Based on panel data and estimates LUX visitors only Source: Metriweb, The REA Group REA Group - FY2008 Results Presentation 16

We continue to make progress in the growth options ( other countries ) OTHER MARKETS France Acquired with athome.lu in Feb 2007 Both websites are leaders in their region Number of agents tripled in FY08 to 224 Only residential agent revenues Belgium Acquired with athome.lu in Feb 2007 Agent numbers up by 472% to 183 in FY08 Residential agent revenues and Altowin (backoffice software) business United Arab Emirates Acquired Feb 2008 Strong growth into the online market Focus on Dubai and entry into Abu Dhabi Since acquisition in Feb 08 almost doubled its agent numbers Focus on Developer and Residential Agents Germany Acquired with athome.lu in Feb 2007 Doubled number of agents to 101 Focus on residential agent revenues New Zealand Launched Sep 2005 Residential site is #2 in the market Commercial site is #1 in the market Hong Kong Acquired Sep 2008 Two publications squarefoot.com.hk and Inside Discovery Bay Launch of residential website targeting the English speaking users REA Group - FY2008 Results Presentation 17

Appendix - Further investor data REA Group - FY2008 Results Presentation 18

As at 30 June 2008, 22,478 paying agents used at least one of the REA Group sites PAYING RESIDENTIAL AND COMMERCIAL AGENTS USING REA GROUP SITES Country Site June 2007 June 2008 Growth realestate.com.au Australia realcommercial.com.au 8,410 9,190 9% propertylook.com.au allrealestate.co.nz New Zealand propertylook.co.nz 496 527 6% realcommercial.co.nz United Kingdom propertyfinder.com 3,919 5,633 44% All Other International section 131 504 285% Italy casa.it 3,511 5,514 57% Luxembourg athome.lu 373 449 20% France athomelorraine.fr 81 224 177% Germany athome54.de 58 101 74% Belgium athome.be 32 183 472% Hong Kong squarefoot.com.hk 61 United Emirates Propertyfinder.ae 92 Total Paying Agents 17,011 22,478* 32% * additional 2,891 agents on trials Source: The REA Group REA Group - FY2008 Results Presentation 19

During FY08, property listings across the group grew by 50% over the last 12 months to 1.6 million LISTINGS ON REA GROUP SITES AS AT JUNE 2008 Country Site June 2007 June 2008 realestate.com.au 383,889 432,145 Australia realcommercial.com.au 66,259 86,150 realholidays.com.au 21,474 New Zealand allrealestate.co.nz realcommercial.co.nz 34,797 40,725 5,999 United Kingdom propertyfinder.com hotproperty.co.uk 294,373 417,542 166,339 Italy casa.it 213,244 298,956 Luxembourg athome.lu atoffice.lu 11,594 884 17,110 1,019 Belgium athome.be 3,087 15,641 France athomelorraine.fr athomealsace.fr 14,053 15,966 7,122 Germany athome54.de 4,159 5,479 Hong Kong squarefoot.com.hk 5,912 United Emirates propertyfinder.ae 7,817 All Other International sections 56,350 78,996 Total 1,086,689 1,624,392 Source: The REA Group REA Group - FY2008 Results Presentation 20

During June 2008, 8.2m unique visitors used the REA Group of sites up 15% from June 2007 TOTAL UNIQUE VISITORS TO REA GROUP SITES IN JUNE 2008 Country Australia New Zealand United Kingdom Italy Luxembourg, Belgium, Germany, France Country realestate.com.au realcommercial.com.au realholidays.com.au property.com.au allrealestate.co.nz realcommercial.co.nz propertyfinder.com hotproperty.co.uk* casa.it 5 residential / commercial sites Total Visitors 4,137,869 246,997 115,236 50,275 228,247 10,664 1,933,064 493,961 731,075 165,419 United Emirates Hong Kong Total* propertyfinder.ae squarefoot.com.hk* Source:Nielsen//NetRatings, Omniture * Includes duplicate UBs between sites 65,143 23,652 8,201,602 Up by 15% compared to June 2007 REA Group - FY2008 Results Presentation 21

Across the globe, agents continue to pay more for our services ARPA (Average Revenue Per Agent per month) ARPA SITE June 2007 LOCAL CCY (A$) June 2008 Local CCY (A$) GROWTH realestate.com.au Australia realcommercial.com.au realholidays.com.au $667 $885 33% property.com.au United Kingdom propertyfinder.com 96 (A$ 205) 106 (A$ 225) 10% Italy casa.it 51 (A$ 85) 60 (A$ 100) 17% Luxembourg athome.lu 249 (A$ 415) 353 (A$ 590) 42% Source:REA Group REA Group - FY2008 Results Presentation 22

Residential websites delivered 85% of revenues REVENUE SPLIT BY PRODUCT LINE FOR FY2008 $9.6M (6%) Commercial Online Advertising Residential Online Advertising* Agent revenues 63% Developer revenues 9% Third Party advertising 13% $131.4M (85%) $6.5M (4%) $8.1M (5%) Agent Office Solutions Residential Print Advertising Total = $155.6M * Includes the August 2007 launch of realholidays.com.au Source: The REA Group REA Group - FY2008 Results Presentation 23

Houses for the Homeless charitable marketing campaign Campaign: For every visitor to the realestate.com.au Houses for the Homeless website, REA donated $1.00 to Mission Australia to house the homeless. The aim was to raise $100,000 (AUD). Results: $100,000 dollars raised in 48 hours 50% Year-to-year increase in donations to Mission Australia 150,000 + UB s to realestate.com.au Over 170 local news / media stories 80 online news / blogs stories Photo: Cardboard City installation on Martin Place, Sydney. Source: REA Group REA Group - FY2008 Results Presentation 24

Disclaimer The material herein is a presentation of non-specific background information about the Company s current activities. It is information given in summary form and does not purport to be complete. Investors or potential investors should seek their own independent advice. This material is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of a particular investor. These should be considered when deciding if a particular investment is appropriate. REA Group - FY2008 Results Presentation 25