Thank you for standing by, and welcome to the Link Group Half Year Results Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. If you would like to ask a question, you will need to press the star key followed by the number 1 on your telephone keypad. I would now like to hand the conference over to Mr. Vivek Bhatia, CEO and Managing Director. Please go ahead. Thank you. Good morning, everyone. I would like to acknowledge the Gadigal people of the Eora nation, traditional custodians of the land on which we present today, and pay my respects to the elders past, present, and emerging. I extend that respect to all Aboriginal and Torres Strait Islander people on this update today. My name is Vivek Bhatia, and I'm joined today by Andrew MacLachlan, our Chief Financial Officer. A warm welcome from me and the entire team at Link Group. On behalf of the executive leadership team, Andrew and I would like to thank you for your time today as we present our half year results for FY 2022. The executive leadership team represent a broad range of skill sets, balanced with strong external experience and deep internal knowledge. The 50-50 gender mix also benefits us greatly as we continuously strive towards fostering a diverse and inclusive culture and environment at Link Group. I would like to take a moment to acknowledge and thank Chris Addenbrooke, who after 34 years with the organization, has decided to retire as CEO of our Fund Solutions business. Chris has been a dedicated and tireless contributor to our leadership team, and on behalf of the entire organization, we wish Chris very well in his retirement and thank him for his contribution to Link Group. I'm also pleased to welcome Karl Midl to the executive leadership team as the new CEO of Fund Solutions. Karl has been with the organization for more than 25 years, and many of you would be familiar with him when he presented at our Investor Day late last year. Karl is a highly capable and experienced leader who is already a great addition to the executive leadership team. Today, I will start by providing you with an overview of our operational and financial results for the first half of FY 2022. Andrew will then walk you through the detail of our financial update, and I will return to summarize and open for Q&A. As many of you know, Link Group's digitally enabled platforms connects millions of people globally with their assets safely, securely, and responsibly. We partner with a diverse set of global clients across a wide range of asset classes to provide robust, efficient, and scalable services, purpose-built solutions, and modern technology platforms that deliver world-class outcomes and experiences. It is no secret that since I have come on board, it has been a time of consolidation and resetting for the organization with a clear strategic focus to simplify, deliver, and grow. As you can see from this slide, we are making good progress towards these efforts. In terms of simplification, we are making continued improvements to our processes, streamlining and transforming the services we offer while increasingly digitizing our business and services. We continue to leverage our global hub strategy, which is yielding benefits in the form of increased efficiencies in automation, as well as providing access to talent for specialized skills. In fact, our hub in India has just hit a milestone with our 1,000th person now in the hub. We have delivered AUD 63 million worth of gross annual cost savings through our global transformation program and are very much on track towards our goal of a gross annualized benefit of AUD 75 million by the end of FY 2022. RSS continues to support several superannuation fund mergers in Australia, with around 340,000 new members expected to be onboarded in the fourth quarter of this financial year. Our Smart Pension partnership in the U.K. continues to grow with 900,000 members on the platform, a solid increase since our previous update to the market last year. We have completed the Casa4Funds acquisition, which is providing us with the scale required in our Fund Solutions business in Europe. We have continued to see very strong levels of client retention across all the business units, with growth in the uptake of new solutions and an increased cross-sell of clients across the businesses. Finally, we have entered into exclusive negotiations with LC Financial Holdings in respect of our BCM business, and I will provide more color on this transaction later in the presentation. Link Group continues to deliver in a challenging environment with the first half operating EBIT ahead of our guidance. While Andrew will provide a more fulsome summary of our financials, I wanted to call out a few specific items. While group revenue for the first half was slightly down, we are seeing some encouraging signs, especially for Fund Solutions, RSS, and Corporate Markets. Our business continues to deliver healthy cash conversion ratios with net operating cash flow conversion for the first half at 106%. Consistent with the plans outlined in the Dye & Durham Scheme Implementation Deed, the Link Group board has also approved a fully franked interim FY 2022 dividend of AUD 0.03 per share. In addition, our balance sheet remains strong, with leverage ratio at 2.6 times, and we expect this ratio to remain in our preferred range of 2-3 times. Over the last six months, we have deployed our balance sheet capacity by returning capital to shareholders and bringing CapEx back to the 4%-6% of group revenue in line with our guidance. The reinvestment in both technology and our people will further help to drive revenue and EBIT growth in FY 2023 and beyond. Our financial performance is complemented by the progress we continue to make in building a more sustainable future by effectively managing the environmental, social, and governance aspects that are important to us and our stakeholders. Highlighting just a couple of items from this slide, we continue to take steps towards the achievement of our short, medium, and longer term climate targets, including a net zero carbon emission target by FY 2030. We're making good progress against our LinkTogether for Good community engagement strategy, especially following our Giving Back Month, which was held globally during the month of December. We are proud of the diversity of our people and the richness that it brings, and perspectives and experience to the business, and with a 40-40-20 gender equity balance now achieved at most levels across the organization. Our people define what Link Group is. The progress we have made reflects our commitment to continually expand our capabilities and make Link Group a place where we can all thrive and achieve together in order to best deliver on our strategic goals for our clients and our shareholders. For those of you who are less familiar with Link Group, this slide will give you a more in-depth look of our business units and our investment in PEXA. One of the key differentiators of Link Group is that we have a global and diverse client base across multiple asset classes. We now connect more than 90 million people across the world with their financial assets, a number that has increased from 70 million since our full year results update in August last year. As you can see, our two largest business divisions, Corporate Markets and RSS, collectively comprise 88% of our operating EBITDA, noting that India has performed particularly well for Corporate Markets during this period. We have also consistently delivered high levels of recurring revenue of 85%, which was slightly up from 84% compared to the same time last year. The high levels of recurring revenue, solid performance from Corporate Markets and RSS, as well as the geographic and sector diversification of our overall client base, continues to provide us a degree of resilience and a solid foundation from which we can deliver consistent growth. Taking a look now at some statistics that speak to the scale and scope of our operations and market presence and the strength of our technology platforms. We now service about 38% of all superannuation accounts in Australia, an increase since our update last year. We provide share registry services for over 1/3 of the ASX 300 and the FTSE 250, and hold the majority market share of amounts raised in Australian IPOs in the first half of this financial year. Our technology is robust, scalable, and importantly, secure. With over 1,000 technologists and an investment of over AUD 250 million annually in building and maintaining technology ecosystems, we are able to offer a level of scalability and industrial robustness that is market leading, underpinned by the security of our ISO/IEC 27001 certification. Our technology platforms simplify the connectivity between the financial market participants and enhances the engagement experience of our clients and their customers. I now hand over to Andrew to take us through the financial summary. Thanks, Vivek, and good morning, everyone. I'm gonna provide some more detail on the financials, first at a group level, and then at a business unit level before handing back to Vivek to provide an update on PEXA and the transactions which are currently underway. I'd also direct people to the appendices at the back of the presentation, which provide more detailed reconciliations of our operating to statutory results. As Vivek mentioned earlier, our first half performance for FY 2022 was ahead of our guidance provided in August last year. Our operating EBIT performance for the first half of AUD 70.2 million, while down on the same period last year, was up by AUD 7.9 million or almost 13% on the second half of FY 2021. Overall, group revenue was AUD 593.6 million, which was only marginally down on the PCP. However, again, it was pleasing to see the revenue performance improve on the second half of FY 2021 by 5.4%. Recurring revenue remains a feature of the business, representing 85% of total revenue for the half. Operating costs grew by 3% as the benefits of our global transformation program, now in its final year, were offset by normalization of staff costs following the COVID-19 related temporary salary reductions and suspension of indexation increases in FY 2021. At the operating and PAT line, we've reported earnings of AUD 55.9 million, which includes a PEXA contribution of AUD 19.5 million. This was a very strong contribution from this investment, which Vivek will cover in more detail shortly. Our statutory NPAT loss of AUD 81.7 million included a non-cash impairment charge of AUD 81.6 million, largely related to the BCM business. Vivek will also provide an update on the sale process for this business later in the presentation. This next slide should be familiar to you all and lays out the key drivers for the change in revenue by business unit. In RSS, we saw strong underlying member growth leading to positive growth in recurring revenue once the impact of PYS is removed. As a reminder, FY 2022 is the last year we expect to see elevated losses of members due to PYS. The merger out of MTAA in April 2021 also negatively impacted recurring revenue for the half, which more than offset the benefit from a full half of Hostplus call center revenue. Pleasingly though, RSS recurring revenue for the half remained in line with the second half of 2021 on a recurring revenue basis. Corporate Markets was also resilient, with a flat revenue performance for the half compared to the PCP. We saw growth of AUD 2.1 million in recurring revenue, reflecting a strong performance by our Indian business, Link Intime, which now represents 7.5% of overall Corporate Markets revenue. Non-recurring revenue fell by AUD 1.5 million, reflecting lower levels of corporate actions and margin income compared to the previous period. Our Fund Solutions business had a good start to the year with revenues of AUD 6.3 million, 7.2% up, driven by the acquisition of Luxembourg-based Casa4Funds in August 2021. This added AUD 4 million for the five months, and coupled with growth in FUM due to largely positive equity markets drove the performance. The BCM business had a challenging start to the year, with NPL portfolio run off more than offsetting growth in new origination business in Ireland and the Netherlands. Turning now to operating costs and global transformation. In the last 6 months, we've delivered a further AUD 11 million of in-period cost savings from our global transformation program. As at the end of December 2021, the annualized benefits from this program amounted to AUD 63 million, and we have clear line of sight to get to our target of AUD 75 million by June 2022. Our Mumbai hub now houses over 1,000 Link Group staff, and we've made good progress on premises and vendor rationalization during the period. As an example, we relocated our Sydney operational hub, previously based in Rhodes, to Parramatta in the last six months and made further progress on rationalizing our global footprint as we move to a flexible working future. As the bridge at the top of the slide illustrates, we've also seen a normalization of our staff costs in the period, with the previous period benefiting from temporary salary reductions. As previously discussed, we provided staff who took these temporary salary reductions last year with a special equity grant of equivalent value, which vested over a 1-2 year period. In addition, we reintroduced salary indexation in the last six months. Combined, this normalization of staff costs amounted to almost AUD 20 million in cost increases compared to the previous period. Other cost movements in the period include costs associated with the Casa4F unds acquisition, the Hostplus call center, and higher insurance and IT costs, which were partly offset by higher annual leave usage and costs removed with the sale of our South African business. Staff costs have now normalized, and it should be business as usual for the second half. As Vivek highlighted earlier, operating cash performance in the first half was again robust, with net operating cash conversion of 106%. While down on the previous period, which was a record conversion percentage, due largely to reinstated staff bonus payments and higher receivables and prepayments, we delivered a pleasing working capital result highlighted by our debtor collections performance. Debtor days reduced from 24 days a year ago to 22 days at December 2021. Set out on the right of the slide, we've provided a bridge to help explain the free cash flow performance for the first half. Cash significant items of AUD 20.5 million relates to costs settled in respect to the various M&A transactions during the last quarter of FY 2021. This included the PEP/Carlyle bid and the PEXA IPO. Cash tax of AUD 27.9 million includes AUD 21 million paid in respect of the PEXA capital return foreshadowed previously. Finally, as Vivek mentioned earlier, our strong balance sheet has allowed CapEx to return to normal levels this period compared to the previous period, which was COVID-19 impacted. Net debt at 31 December was AUD 656 million, with our leverage ratio of 2.6x within our guidance range of 2-3x. As we highlight on this slide, our net debt is up by around AUD 200 million, reflecting the on-market share buyback and acquisition and investment spend. Our interest cover remains very comfortable at 13.8x. Looking now at each of our four business units in turn, starting with the largest business, Retirement and Superannuation Solutions, or RSS. RSS reported revenue of AUD 252 million, which was down 2.2% on the prior period, largely due to prior year client exits, i.e. MTAA, and lower non-recurring revenue, reflecting a more normal level of fee for service-related regulatory change activity. Recurring revenue was down just AUD 3.1 million or 1% on the previous period. However, once adjusted for the one-off impact of PYS ERS, it was up by AUD 2.4 million. This underlying reflects continued growth in member numbers, as shown in the graph at the bottom left of the slide. Notwithstanding the impact of PYS and ERS regulatory change programs, actual member numbers in Australia have now increased to 8.5 million as at 31 December 2021. Growth in the period was again above 5%, reflecting the strength of the RSS client base in winning new members. This growth is set to be further augmented in the next six months with a number of fund mergers due to be completed by 30 June 2022, as Vivek highlighted earlier. In the U.K., RSS reported revenue of GBP 3.1 million, up from GBP 2.4 million in the previous period. RSS now administers more than 900,000 members through the Smart Pension Master Trust and continues to study a strong pipeline of opportunities in that market, which is transitioning from DB to DC. Operating EBIT for RSS was AUD 46.2 million, a reduction of AUD 4.9 million on the PCP, reflecting growth in staff costs referred to previously, coupled with higher FTEs resulting from the Hostplus call center win in February, and increased investment in capability and frontline service. We expect RSS FY 2022 operating EBIT margin to be higher than FY 2021. Turning now to Corporate Markets. This business, which is our most diverse in terms of geographical presence, had a solid performance with flat revenue compared to the PCP. Excluding the impact of the sale of South Africa in November 2021, overall revenue on a like-for-like basis would be AUD 3.9 million higher than the PCP. Overall recurring revenue was up AUD 2.1 million on the previous period. This growth was strongest in India, where reported revenue growth was AUD 3.7 million. Elsewhere, we also saw good growth in Australian recurring revenue from new registry wins, such as Endeavour Group, coupled with growth in employee share plans. In the U.K., we saw revenue grow modestly as dividends returned to more normal levels following suspensions due to COVID-19 in the previous period. Non-recurring revenue and margin income were both lower compared to the PCP, reflecting lower corporate actions activity levels across our client base and continued record low interest rates coupled with lower float balances which negatively impacted margin income results. Operating EBIT for Corporate Markets improved by AUD 2.6 million or 9% to AUD 32.2 million, reflecting good operational leverage in India, coupled with lower operating costs as we leveraged our Indian hub to simplify and streamline operations. I'll finish with Fund Solutions and Banking and Credit Management. In Fund Solutions, we reported revenue of AUD 93.6 million for the first half, which was up 7% on the PCP. This was a pleasing performance reflecting the consolidation of Casa4Funds revenue from August onwards, coupled with growth in FUM, which helped offset the negative impact of some prior year client exits due to industry consolidation and insourcing. AUA in Europe increased by 10% to GBP 123 billion, reflecting the continued recovery in equity markets over the last 12 months, coupled with new fund launches. Operating EBIT for Fund Solutions improved by AUD 2 million to AUD 10.4 million, reflecting the growth in FUM and cost benefits from the further expansion of operations in the Mumbai hub. Banking and Credit Management had a difficult start to the year, although we were pleased to report some good new client wins during the half. The business continues to be impacted by the runoff of NPLs, especially in Ireland. Outside of Ireland, however, in the U.K., Italy and Netherlands, we did see revenue growth, largely driven by growth in origination revenue. Operating EBIT for BCM declined by AUD 4.9 million to a loss of AUD 8.1 million for the half. This reflects the decline in revenue, which could only be partly offset by cost reductions given the high fixed cost base of this business. I'll now hand back to Vivek to provide a transaction update. Thank you, Andrew. Firstly, I would like to address BCM. As we advised in February, we have entered into exclusive talks with LC Financial Holdings in respect to the sale of the BCM business. Teams on both sides have made significant progress over the last few weeks, with the focus now on the final details of the transaction. We will continue to keep the market informed of any material developments around this transaction, which I hope will be done imminently. Regarding the transaction to re-acquire Link Group, as announced in December 2021, we signed a Scheme Implementation Deed with Dye & Durham. Once the transaction completes, Link Group shareholders will receive AUD 5.50 per share in cash under the scheme, plus a AUD 0.03 per share interim dividend, which was declared today and will be paid in April. As part of the deed, if Link Group reaches an agreement to divest the BCM business prior to the completion of the Dye & Durham transaction. Shareholders will be entitled to receive any net consideration received from the sale of BCM prior to or up to 12 months after the implementation of the scheme, subject to regulatory approvals. By way of update, we have now made all major regulatory submissions with the relevant authorities in Australia, the U.K., Europe and India for the D&D scheme. Preparations for the scheme booklet continue to progress very well with lodgment to ASIC expected in the coming weeks. In addition, our management team is closely working with Dye & Durham on the integration planning process. Overall, briefly now to PEXA, which is a homegrown success story. As you know, Link Group owns a 42.8% equity interest in the ASX listed PEXA Group and has two board seats. As you will have heard from PEXA management yesterday, PEXA continues to perform well ahead of expectations, with the number of transactions up 37% year-on-year and the first half FY 2022 revenue up 46% to AUD 145 million. More than AUD 2 trillion in property value has now been processed on the PEXA exchange platform since its launch, an impressive increase from the AUD 1.5 trillion since August last year. Now looking at the outlook for the rest of the financial year. While the past year has been one of consolidation and resetting, we are pleased that the business is now in a position to take full advantage of any underlying tailwinds that are present in the segments we operate in. As outlined by Andrew, we are seeing credible signs of underlying revenue growth in RSS and Corporate Markets. Fund Solutions expanded scale with the recent Casa4Funds acquisition should also support our medium-term growth agenda. As outlined at our investor day back in November 2021, we remain convinced that our people capabilities, deep experience and proprietary technology platforms, combined with attractive macro fundamentals, will continue to drive our medium-term growth agenda. As such, we affirm our prior revenue growth guidance of low single-digit growth for FY 2022. As mentioned at our AGM, the current year to date trading has been strong and ahead of our expectations. We now expect FY 2022 operating EBIT to be at least 5% higher than FY 2021. Our focus for the remainder of FY 2022 is to continue to implement our simplify, deliver and grow strategy and on completing both the BCM and the Dye & Durham transactions that are currently underway. As we enter the second half of FY 2022, we remain excited about medium-term growth potential of this business. Our year-to-date performance, coupled with the strong foundations that we have now firmly entrenched in the organization, sets us up strongly to achieve our strategic ambitions and growth targets. We are pleased with the continued progress we have made against our key milestones and market expectations for FY 2022. As we continue to focus on the execution of our strategy to take us forward and deliver sustainable medium-term growth, I would like to thank my entire leadership team and every single one of our 7,000 employees for their ongoing dedication and focus. On that note, I would like to thank you for your attendance today and open up for questions. Thank you. Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on speakerphone, please pick up the handset to ask your question. Your first question comes from Andy Chuk from Macquarie. Please go ahead. Good morning, Vivek and Andrew. My first question relates to D&A. You've previously commented that FY 2022 will be roughly similar to FY 2021, yet the first half 2022 was AUD 8 million lower than the second half of 2021. Can you just talk us through what's driving that reduction? Sure, I can take that one, Andy. Two things, principally. One, you'll see in our financial statements that we reassessed the useful lives of some of our core platforms. Principally the core RSS and Corporate Markets platforms. We've reassessed those useful lives that were due to expire in the next 12 months out to 2030. Those systems are still hugely important to us. We still continue to invest heavily in those platforms, so we believed it was appropriate to reassess those useful lives. Secondly, you'll note as well from the financial statements, we took some impairment charges for surplus premises space, principally in Australia. Again, that reduces that right of use amortization charge that goes through the D&A line. Fantastic. The only other question I had was on cost. You mentioned the normalization of staff costs are effectively done and second half should be BAU. Could I just confirm whether there's any benefit on a year-on-year basis, given the equity grant amortization that you guys would incur in second half 2021? The amortization of that equity grant is largely behind us now. Most of the amortization was on a one-year vesting, so that again is gonna be very immaterial for the second half, hence the comment about normalization. Okay. It was incurred last year, right? On a year-over-year basis, that should come out of this year's base. Is that the right way to think about it? Yeah. The second half will be a more normal period. Exactly. Thanks, guys. That's all. Thank you. Thank you. Your next question comes from Ed Henning from CLSA. Please go ahead. Hi. Thank you for taking my questions. First question, can you just touch on the guidance upgrade and how much is due to the reduced D&A and what else is driving that? Yeah. I mean, D&A, it obviously is a driver of lower D&A than what we said back in August. It's those two issues that I just mentioned around the useful lives and the surplus lease space. We are seeing, you know, stronger performance from a trading perspective across a number of our business units, probably with the exception of BCM, which we highlighted. Seeing good performance in RSS, Corporate Markets and Funds. We do expect, as we said, you know, normalization of staff costs in the second half. Okay. The second question, whether you can answer these or not, I'll try. Just on the deals, I guess, firstly starting with you know the takeover bid from Dye & Durham. Has there been any news from private equity following that bid? They haven't called me. I'm not sure whether they've called anybody else, Ed, but I haven't had any conversation. Okay, no worries. Just to confirm, in the scheme there's no cause to increase the look-through values of PEXA, which is up substantially since the bid, which was at AUD 16.25? No, no, there isn't. Okay, no worries. That's it. I'll leave it there for now. Thank you. Thank you. Once again, if you'd like to ask a question, please press star one on your telephone and wait for your name to be announced. Your next question comes from Arushi Gupta from J.P. Morgan. Please go ahead. Hello. Thanks for taking my question. I have two questions. One is regarding the Woodford investigation. If you can give an update on that and then, can also confirm on how much capital is in the bus-- Just on the Woodford investigation update, we haven't heard anything since we last updated the market, apart from the letter that the FCA wrote to the Treasury Select Committee in December. That's a public letter, which basically said that they are close towards the end of their investigation and now will be spending some time writing a report, which will be then validated by their legal experts and independent other experts. We don't have any time frames, I'm afraid, to update the market on, because we haven't really had any updates from the FCA on the time frames. Can you get the second part of the question? Thank you. The second part is that if you can confirm how much capital is in the Woodford business and how much of the insurance. My second question is regarding the Carlyle Group about when you open your data rooms to them, what was their response? If you can comment on that. Sorry, it's very, very hard to hear the questions. Repeat the questions. We're just finding it very difficult to hear you. Okay. [Sorry for the weak signal]. Is it any better now?