Rubik updates investors on current businesses and progress in building the Bank-in-a-Box offering

1. Investor Presentation
Rubik Financial Limited
For personal use only
September 2009
CONFIDENTIAL

2. Disclaimer
• This document is a presentation of general background information about Rubik’s activities at
end fy 09.
• It is information in summary form and does not purport to be comprehensive. It is to be read in
conjunction with the Preliminary Results filed with ASX on 31 August 2009.
• It 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, tax position or needs of any particular
person. These should be considered, with or without professional advice, when deciding if an
investment is appropriate.
• No representation or warranty, express or implied, is made as to the accuracy, reliability,
reasonableness or completeness of the contents of this document. To the extent permitted by
law, neither Rubik nor any of its directors, officers, employees or advisors nor any other person
shall have any liability whatsoever for any errors or omissions or any loss, howsoever arising,
directly or indirectly, from any use of this document or its contents.
• Any forward looking statements, opinions and estimates contained in this document are based
on assumptions and contingencies which are subject to change without notice.
For personal use only
CONFIDENTIAL 1

3. Rubik Overview
• Rubik is focussed on acquiring best­of­breed technologies to develop an integrated holistic offering
to financial institutions. The business model is built around acquiring the right capabilities, integrating
them and, to the extent possible, leverage the common infrastructure with the objective of
delivering superior returns
• Key business segments and products offered are:
– Phone banking ­ phone, mobile, kiosk banking
– Internet Banking & Security ­ internet banking, Factor 2, identify management
– Cards & Payments ­ credit card management, Direct Entry and Bpay solutions
– CWX – collections, recoveries and delinquency management solutions
– Bank in a Box – complete hosted suite of banking technology including the provision of the
Temenos T24 core banking system
• Product offering spans over 75 products across banking technology and corporate services. Our
products are sold to 166 Australian Deposit Taking Institutions (ADIs), 15 New Zealand financial
institutions and 31 other international financial institutions spread over 16 countries. Rubik also has 75
other customers spread across pharma, local government, utilities, Telco's etc where they have
For personal use only
requirements for card, payments, or collections capabilities.
CONFIDENTIAL 2

4. Rubik Overview
• We have acquired and integrated a number of software product businesses, created a stable team
and operating structure, and manage products for over 250 Financial Institution clients.
• Businesses purchased have strong product offerings that are providing sales to new and existing
customers in Australia and various international markets.
• Products have been re­engineered to be offered as hosted and ‘multi­tenanted’ offerings (i.e.
multiple customers can use the one application with separate secure data and features) – see
Appendix A for more information.
• Temenos T24, the world’s leading core banking system, has been purchased, localized for the
Australian market and integrated with our other product offerings – this forms our ‘Bank­in­a­Box’
offering.
• We have signed our first two ‘Bank­in­a­Box’ customers – which will deliver us a reference site for
other customers to view and proof that the model is robust, secure and cost effective.
For personal use only
CONFIDENTIAL 3

5. Where are we now?
• As at 31 August 2009
– Share Price 9 cents
Revenue
– Market Cap $23M 10
• As at 30 June 2009 9
– Cash $21.6M 8
– Revenue $8.8M 7
– Loss ($4M) 6
– Normalised ($572K) 5
– Net Assets 17.3 cps 4
– Cash & Liquid 3
securities backing 9.2 cps 2
1
0
For personal use only
2007 2008 2009
Recurring Revenue Non‐recurring Revenue
CONFIDENTIAL 4
Graph as at June 30 2009

6. Rubik’s Mission & Vision
Rubik has the core functions necessary to deliver its vision of a ‘Bank­in­a­Box’ and will
have the platform in production during 2009.
Mission
Rubik Financial will achieve compelling growth in shareholder value through
exploitation of profitable niches within the financial services sector.
Vision
Deliver a flexible, low cost, hosted, “Bank­in­a­Box” technology platform to financial
institutions.
Bank­in­a­Box
Flexible
A suite of integrated systems for meeting banking system needs
Low cost
Decrease complexity & cost of technology to 30% of current costs
For personal use only
Hosted
Provide a secure, highly available, compliant environment
CONFIDENTIAL 5

7. Long term goal ­ “Frictionless Banking”
• Deliver lower costs of products and services to consumers by
decreasing the overall cost of delivery for Financial Institutions
– Targeting a reduction of technology spend per Financial
Institution by over 30% to reduce cost­to­income ratio by at
least 10%
– Manage entire technology needs of 75% of all financial
institutions in Australia and New Zealand – ie. deliver scale
benefits to the majority of Financial Institution market
– Selectively develop products that have potential in the
international market
For personal use only
CONFIDENTIAL 6

8. Our product offering today
Rubik sells a range of competitive products that can be taken as in house
applications or hosted by Rubik
• Rubik has over 75 different products
available and in use today
Phone Internet Cards &
Collections
Banking Banking Payments • To assist customers understand our offer we
have grouped in four product families
CWX – 1st • This has meant moving products form
Party IVR
Online different acquisitions into new development
Card Mgt
banking
Agency Mgt
teams to build centres of excellence.
VOIP
• The development teams are still providing
Legal
recoveries compelling product offerings that can be
SMS Banking Factor 2 SPX used in house by banks, but have also
Mgt Console redesigned them to be able to be centrally
Mobile hosted by Rubik
Mercantile Banking
3rd Party
Online Apps Bpay
• Marked products already have a hosted
Cash
For personal use only
Delinquency customer base
Mgt Dispenser
Already hosted by Rubik
CONFIDENTIAL 7

9. Business unit revenue contribution
• To assist understand the relative Bank‐in‐a‐Box
Cards & Payments 0%
contribution of Rubik business 12%
units, revenues are shown
• Collections shows only a half
year of contribution
• Bank­in­a­Box’ will only have
material revenues post
production as it is based on Collections
17%
account use
Phone & Mobile
47%
Product line Market Share*
Phone & Mobile 90%
Internet Banking 20%
Cards & Payments 1%
Collections 5%
Bank­in­a­Box 1%
For personal use only
* estimates based off market knowledge Internet Banking
24%
Phone & Mobile Internet Banking Collections Cards & Payments Bank‐in‐a‐Box
CONFIDENTIAL 8

10. Current Revenues
• While 60% of revenues We have not
are recurring, each
10
included any new
year’s licence sales sales / licence
9 income in this
deliver approx 20%
recurring income streams estimate
8
in future years
• The FY 10 estimate 7
shown here excludes Licence
any new licence sales 6
made over fy 10 Forward Contracts
5
• Forward contracts are Maintenance
$ Million
contracted sales that 4
must be delivered Hosting
before being recognised 3
as revenue Corporate Services
• Management expects a
2
revenue run rate
averaging over $1M per
1
For personal use only
month in fy 2010
0
fy07 fy08 fy 09 est fy10
CONFIDENTIAL 9

11. Expense Management
• Rubik has absorbed a number of 1,200
businesses and sought savings in:
– Premises – by consolidating
sites and seeking lower rental 1,000
rates General and
Administration Expenses
– Data and comms – by
Data Communications
removing old equipment, 800 Internal
and centralising all servers to
data centre Advertising and
Promotion
– Travel – by replacing visits 600 Travel Expenses
with internet meetings, and
more client visits per trip Occupancy Expenses
• Labour is the largest cost and will 400
grow with success, we will focus Professional and
on improving utilization rates – Consulting Fees
that is, the amount of time staff Employment Expenses
200
are billed to customers vs. the
total time we pay for.
For personal use only
­
Feb­09 Mar­09 est Dec 09
CONFIDENTIAL 10

12. Product lines have International appeal
We have 39 global financial institutions using products through resellers and
regional offices – however our focus is on the Bank in Box value proposition
Resellers
For personal use only
Offices
CONFIDENTIAL 11

13. R&D investment
• After considering potential
core system acquisitions, we
16% 4,500
chose in favour of purchasing 14% 4,000
a license for Temenos T24 – a
modern, world class core 12% 3,500
banking solution
3,000
• At end August we have 3
10%
months more development
2,500
8%
until the system is localised 2,000
and in production 6%
1,500
• We have spent $4.5M to date
on licence and R&D and
4% 1,000
envisage a further $4M by 2%
Dec 2009
500
• After this the licence 0% 0
payments will decrease and Sep‐08 Dec‐08 Mar‐09 Jun‐09
R&D rate will stabilise to a
level around $1M per year.
For personal use only
RHS Operating Payments
RHS Research & Development
LHS % spend on R&D
CONFIDENTIAL 12

14. Migrating to the Value proposition
Rubik continues to offer the 4 product lines, but increasingly will be selling a
single value proposition – the “Bank­in­a­Box” to Australian and NZ customers
Customer Operations & Transactional
Acquisition Processing Services
Phone Internet Cards &
Collections • CRM ­ ARC • Loan & • Payments ­ SPX
Banking Banking Payments Customer
• Internet ­ IB • Accounts – T24
• Security – F2, Administration • Online banking
SMS, Token – T24 ­ IB
• Sales • Fraud – IMTF • Phone Banking ­
Management ­ • Reporting ­ IVR
CWX – 1st Sugar Mgt Console
IVR • EFTPOS ­ CMS
Party • Imaging and
Online • Simulators / • ATM ­ CDM
Card Mgt calculators Document
banking • Host – T24
• Voice systems – management
Agency Mgt – T24 • GL – T24
Swift Call
VOIP • Branch systems ­ • Collections ­
Teller CWX
Legal • Kiosk ­ SwiftCash • Workflow ­
recoveries WWF
SMS Banking Factor 2 SPX
Mgt Console
Mobile
Hosted & Managed Services
Mercantile Banking • Secure, dual site setup with DRP and BCP in place
3rd Party • Standard Interfaces & shared development
Online Apps Bpay • Managed hardware, network, software, and services
Cash • Centralised business process for non­core activities
For personal use only
Delinquency
Mgt Dispenser
Already hosted by Rubik
CONFIDENTIAL 13

15. The “core” is a major “friction” point
• Our products give us Indicative costs of Bank IT
an entry, proof of
capability, and Phone Banking Regulatory
opportunity to sell 4% Reporting
• But our products today 3%
Hardware
represent a small share
of the bank cost = IT 12%
revenue today
• Core banking systems Website Hosting
represent the majority 1%
of expense for Bank IT
• The “Bank­in­a­Box”
revenue is bigger than Internet Banking
just the core 12%
Core system
AML
64%
1%
Operational CRM
For personal use only
3%
CONFIDENTIAL 14

16. The Bank­in­a­Box Value proposition
The “Bank­in­a­Box” is an offering that matches the business needs of financial
institutions, not a technology product driven offering
• Customer Acquisition: Technologies that are Operations &
Customer Transactional
aimed at marketing to and acquiring new Acquisition Processing Services
customers, such as customer relationship
management (CRM) systems, marketing • CRM ­ ARC • Loan & • Payments ­ SPX
• Internet ­ IB Customer • Accounts – T24
campaign management and digital marketing • Security – F2, Administration • Online banking
technologies; SMS, Token – T24 ­ IB
• Sales • Fraud – IMTF • Phone Banking ­
Management ­ • Reporting ­ IVR
• Operations and Processing: Technologies Sugar Mgt Console • EFTPOS ­ CMS
primarily related to meeting regulatory, • Simulators / • Imaging and • ATM ­ CDM
calculators Document
• Host – T24
accounting, compliance, reporting and • Voice systems – management
– T24 • GL – T24
Swift Call
management demands; • Branch systems ­ • Collections ­
Teller CWX
• Transactional Services: Technologies that • Kiosk ­ SwiftCash • Workflow ­
WWF
permit distribution of a bank's products and
services via the various distribution channels
demanded by customers, including the Hosted & Managed Services
integration of systems with brokers and other
• Secure, dual site setup with DRP and BCP in place
referral services; and • Standard Interfaces & shared development
• Managed hardware, network, software, and services
• Centralised business process for non­core activities
For personal use only
• Hosted and Managed Services: The ability to
provide a “turn­key and Hosted‟ service for
financial institutions, removing technology and
infrastructure complexity.
CONFIDENTIAL 15

17. Why would Rubik be a preferred supplier?
• Existing customer relationships that build • Our Core Banking offering T24 is recognised
trust, demonstrate capability, and meet as a best­of­breed solution, as confirmed by
supplier probity tests winning:
• A public company with transparency and – Best Core Banking Product award of
strong governance the European Banking Technology
Awards 2007, 2008
• A common architecture that informs
acquisition choices and decreases – Retail Banking Innovation award of The
integration issues Banker Technology Awards 2007/2008
• A hosting platform that allows customers to – First Place in the 2007, 2008 IBS Sales
choose to outsource IT or Business Process to League Table
decrease costs and improve service
• Experienced local team of developers with
awareness of channels and Australian First
place
banking practices
For personal use only
CONFIDENTIAL 16

18. What’s in the Box?
Other FI’s
External WPac, CBA, NAB etc BPAY
Parties
CUSCAL
AFIC/ASIC
APRA
Credit Union Banking Environment
ATO
Autrac Member Security Layer
Direct Credits
Veda Cheque Interface Layer Entry Debits
T24 BPAY
Accounts – Members –
Rules
Cards Processes ­
ATM/EFT
POS FDI
Transactions
Interface Layer EFT
Collections Security Layer Credit Union/Bank
Head Office
Rubik Channel Branches
For personal use only
Products
IVR, Internet Banking, Mobile Banking, SMS Banking
CONFIDENTIAL 17

19. Addressable Market – Bank­in­a­Box
We sell the value proposition to Tier 2/3 customers in Australia and New Zealand,
while offering tactical solutions for large financial institutions
Declared* IT spend
FY 2008 Our Offer
Total: 4
$2.1B Tactical - Speed to market
‘Big
4’
$600M Whole / Tactical
Total: 200+ Regional
Banks
$150M Whole of Business
For personal use only
Credit Unions
* Noted as separate line in Annual
Reports, not salaries or operations
CONFIDENTIAL 18

20. Some examples of revenue potential
• While it is hard to
100%
generalise about the
revenue allocation 90%
between banking
systems (as it depends 80%
greatly on age, 70%
functionality and
perception of products) 60% Other
Rubik generally only has
revenues around 5% of
50% Core
the IT spend of its clients. 40% Cards
• The sizes on the clients 30%
on the left varies from Collection
small to very large but 20%
provides a feel for the Internet
scale of the revenue
10%
Phone
opportunity for Rubik 0%
Client 1 ‐ Client 2 ‐ Client 3 ‐ Client 4 ‐
For personal use only
$150K $500K $3M $50M
annual annual annual annual
spend spend spend spend
CONFIDENTIAL 19

21. Breakeven point ­ Bank­in­a­Box
• The Bank­in­a­Box offering is highly leveraged to
scale. Our initial build is for 2M accounts under
management. To put into context, this would be
2­4 large Credit Unions or 15­20 comparable to
Maleny Credit Union
• Over 70% of all ADIs in Australia (representing
over 4.5M customers excluding ‘Big 4’ ) have a
core banking decision to make by 2012. Thus
there should be at least 90 potential sales – even
if only 25% make a decision to change system
that should allow us 20 potential customers by
2013.
• Rubik has built a team to deliver and maintain
the Bank­in­a­Box capability, this does not
directly scale with increased account numbers.
T24 has installations with over 12M accounts.
APCA Statistics – 2008
Payment Accounts 33.7M
For personal use only
Debit cards 21.2M
Credit cards 20.3M
Income from accts
CONFIDENTIAL 20
Cost per account

22. Strategy Timeline
1/11/2009
First Bank In Box live
Corporate setup Initial Acquisitions Integrate products Cards & Payments
1/01/2008 1/01/2009 1/01/2010 1/01/2011 1/01/2012
27/09/2007 6/01/2012
24/11/2007 - 30/09/2008 15/01/2009 - 1/11/2009 1/12/2009 - 30/06/2011
Core selection Core Localisation Exploit BinB
Horizon 1
• We now have a range of products that provide revenues and customer contact – these will build and grow in their
respective markets
• We will selectively use resellers in international markets to gain more revenue from the investment in these products.
Horizon 2
• Our Bank­in­a­Box offering will be fully available by the end of this year.
• A core banking system usually takes an organisation 12­18 months to choose. Implementing a core banking system
averages 14 months, with implementations ranging from 6­12 months to many years.
• Most financial institutions need to consider extending current core systems or replacing core systems by 2012 when
most current contracts expire.
For personal use only
Horizon 3
• As more and more customers take up our hosted Bank­in­a­Box or product based offerings, we will then turn our
focus to exploiting our Cards and Payments solutions
CONFIDENTIAL 21

23. Outlook 2010
• Rubik has seen an acceleration in the pace of financial institution mergers since the beginning of
the Global Financial Crisis.
• Mergers do slow or delay major core replacement programs as the processes are undertaken,
however long tem provide Rubik with larger customers with more sophisticated needs.
• At an industry level the Authorised Deposit Taking Institution market is strong with significant
appetite for improvements to technology
• Even though Rubik is comfortable that business is stable or growing, we have taken a prudent
approach by increasing provisions as payments have slowed, and impaired assets effected by
the decrease in activity.
• We are having success at winning new customers, selling more to existing customers and
developing or acquiring additional products to cross sell
• We have tightened cost controls in premises, communications and travel, while focussing on
gaining higher staff productivity
• Over 2010 as our ‘Bank­in­a­Box’ capability enters production we will see decreasing contractor
costs and increasing recurring revenue streams
• Management expects a slight positive operating cashflow for 2010 and positive earnings
For personal use only
• Our medium term success will be dependant on securing further sales of our ‘Bank­in­a­Box’
CONFIDENTIAL 22

24. Potential for re­rating
• Rubik is currently valued at cash backing. US Fin Tech Symbol Market Cap P/E
Jack Henry & Associates... JKHY 1.96B 19.19
• There is no premium for current product
offerings, customer base or IP of existing S1 Corporation SONE 342.96M 14.54
businesses Metavante Technologies... MV 3.81B 22.68
UK Fin Tech
• There is no premium for the potential
Misys plc MSY 1.01B 11.33
revenue upside from the successful
implementation and exploitation of the Gresham Computing plc GHT 21.54M 714.91
“Bank­in­a­Box” strategy Intelligent Environments... IEN 16.68M 13.77
Microgen plc MCGN 66.62M 15.48
• There is a substantial P/E multiple available
Australian IT companies
when Rubik is rerated based off earnings
rather than cash SAI Global Limited SAI 529.05M 19.64
SMS Management & Tech... SMX 289.91M 12.28
UXC Limited UXC 183.99M 13.33
Australian Fin Tech companies
Rubik Financial Limited RFL 22.55M ‐
Bravura Solutions... BVA 63.87M 10.74
GBST Holdings Limited GBT 40.47M 11.6
Tasmanian Perpetual... TPX 63.34M 10.06
For personal use only
Razor Risk Technologies... RZR 10.79M 8.02
Customers Limited CUS 357.34M 78.7
CONFIDENTIAL 23

25. Rubik Financial Ltd
ABN 51 071 707 232
End
•8/45 Market St, Sydney
•1/1 Eden Park Drive, Macquarie Park, Sydney
•47 Wickham St, East Perth
•51 Goldhill Plaza Singapore 308900
PO Box 4808
Sydney NSW 2001
For personal use only
Phone: +61 2 9488 4000
Fax: +61 2 9449 1116
www.rubik.com.au

26. Board
The Board is an experienced team with knowledge in financial services and acquisition
Craig Coleman Andrew Moffat Ian Hunter
Non­Executive Non­Executive Non­Executive
Chairman Director Director
• His current appointments include • Principal of corporate advisory firm • A founding and ongoing non­
Senior Advisor & Director of the Wyllie Cowoso Capital executive director of E*TRADE
Group Limited, Chairman of boutique • Chairman of Pacific Star Network Australia Limited (wholly owned
fund manager Viburnum Funds Pty Limited and a Non­Executive Director subsidiary of ANZ Bank)
Ltd, Non­ Executive Director of the of Infomedia Ltd • Non­executive Director of Ironbark
Bell Financial Group and Non­ Capital Limited, a listed funds
• Formerly a Director of Equity Capital
Executive Director of Amadeus management company
Markets & Advisory for BNP Paribas
Energy Limited and Amcom Telecom
Equities (Australia) where he took • Over 25 years experience in Banking
Limited.
principal responsibility for mergers including Director and Exec VP of
• Former Managing Director, and and acquisition advisory services and Bankers Trust Australia
former Non­Executive Director, of a range of equity capital raising • Chairman of Audit Committee
Home Building Society Ltd mandates
• Previously held a number of senior
executive positions and directorships
with ANZ Banking Group, including
For personal use only
Managing Director Banking Products,
Managing Director Wealth
Management and Non­Executive
Director of E*TRADE Australia Limited
CONFIDENTIAL 25

27. Management Team
The management team has experience in managing financial institutions and the
technology arms of these companies.
Brent Jackson Stephen Kunkler Steve Warren
Chief Executive Chief Operating Sales Director
Officer Officer
• Appointed in November 2008
• Founding CEO September 2007 • Founding COO September 2007 • Over 20 years’ experience working in
• Former General Manager of Lending • Former General Manager of Direct senior management and CEO
Systems for Sandstone Technology Banking at Sandstone Technology positions for companies such as
and former NSW State Manager of and former manager of Finance and Landmark, Shell Employees, RTA Staff
Members Equity Bank Web Operations and Manager of and CAPE Credit Union
• Director of e­Commerce Information Systems at AMP
Development at ANZ, played a key • Whilst at Sandstone, was responsible
role in initiating and executing the for directing and overseeing the
Nick Moser
ANZ E*Trade joint venture transition towards reusable systems
development, development of strict
Chief Financial
• ANZ Global Head of Non­Mortgage
Lending between 1998 and 1999, QA processes and formulation of a Officer
contributed to the bank achieving pricing strategy to deliver stronger
increased market share whilst recurring revenue
lowering ANZ’s cost­to­income ratio • Roles at AMP included integration • Appointed in December 2008
for small business lending with GIO’s systems during the 2000 • Over 20 years’ experience in the
For personal use only
• Experienced in the acquisition and merger, development and day­to­ financial services and technology
divestment of businesses day responsibility of AMP’s website sectors, in CFO, Financial Controller
and managing the development and Company Secretary positions
and implementation of various with companies such as Amadeus IT
reporting systems within AMP Pacific, Hypertec Research and
Grundy
CONFIDENTIAL 26