Investor Presentaiton

Overview of Macquarie Stable earnings Operating Groups 1Q23 Update Outlook Appendix 5 year earnings volatility relative to Macquarie Multiple to Macquarie 15 year earnings volatility relative to Macquarie (includes GFC) Multiple to Macquarie 4.5 4.0x 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 3.1x 2.1x 1.7x 5.0 4.7x 4.0 8:0 50 3.0 2.6x 20 2.0 1.0x 0.9x 1.0 Global Investment Banks Domestic Asset Managers Global Fund/Asset Managers Global Banks Macquarie Domestic Majors 1.5x 1.1x 1.0x 0.5x Global Investment Banks Global Fund/Asset Managers Domestic Asset Global Banks Managers Macquarie Domestic Majors This page compares the historical earnings volatility among certain firms, and is not intended to represent that Macquarie has a comparable business model, risks or prospects to any other firm mentioned. Volatility of P&L is defined as standard deviation of P&L divided by average P&L (coefficient of variation), based on most recent annual disclosures. Source: Bloomberg as at 31 Aug 22. O Macquarie Group Limited 12

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