Babcock & Brown

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Tax Rate Six months ended 30 June Corporate Tax rate Equity accounted profits and foreign tax exempt dividends Over provision Difference in overseas tax rates Miscellaneous non-deductible items Tax losses not recognised Effective Tax Rate (%) 30 (7.7) (7.6) (2.4) 2.1 2.1 16.5 • The effective tax rate was impacted favourably by offshore income taxed at lower effective tax rates than Australia, earnings from equity accounted investments included on an after tax basis and the impact of the release of a provision relating to the entering into of the tax consolidation regime in Australia. • Excluding the impact of the release of the over-provision for the prior year and the effective tax losses not recognised, the effective tax rate for the period was 22%. The effective rate for the 2006 year is expected to be in line with the forecast effective rate of 20%. 8
Impact of one-off items Six months ended 30 June NPAT attributable to the BNB Group Less: adjustment to reflect annual maintainable effective tax rate Plus: loss on foreign exchange movement taken through the P&L with foreign exchange gain taken to equity Adjusted reported profit ($’m) 163 (7) 6 162 • The two one-off items included in the result are materially offset. 9
Page 1 and 2: Babcock & Brown Interim Results 200
Page 3 and 4: Highlights • Net Profit after tax
Page 5 and 6: Net Revenue Breakdown $m 300 June H
Page 7: Cost Control 100% 80% Headcount* nu
Page 11 and 12: Growth in Total AUM & FUM $Billions
Page 13 and 14: Funds Platform - Recent Significant
Page 15 and 16: Funds Platform - Recent Significant
Page 17 and 18: Managing Expansion of Funds Platfor
Page 19 and 20: Balance Sheet - Assets Under Develo
Page 21 and 22: Balance Sheet - Real Estate for Sal
Page 23 and 24: Corporate Debt Facility Revolving s
Page 25 and 26: Deferred Income & Fees Unearned fee
Page 27 and 28: Risk Management • Risk management
Page 29 and 30: AGENDA 1. Result Overview 2. Divisi
Page 31 and 32: Real Estate - Outlook • Following
Page 33 and 34: Infrastructure - Outlook • On 2 J
Page 35 and 36: Corporate Finance - Outlook • Fol
Page 37 and 38: Operating Leasing - Outlook • We
Page 39 and 40: Structured Finance - Outlook • Th
Page 41 and 42: Strategic Direction - Business Posi
Page 43 and 44: Strategic Direction - Target by the
Page 45 and 46: Outlook • Basic EPS¹ growth guid
Page 47 and 48: 47 THANK YOU
Page 49: Appendix - Specialised Funds and As

Babcock & Brown

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