Investor Presentaiton

Macquarie | Presentation to Investors and Analysts I macquarie.com Overview of Macquarie Operating Groups 3Q20 Update Outlook Appendix Stable earnings O MACQUARIE 5 year earnings volatility relative to Macquarie (since GFC) 10 year earnings volatility relative to Macquarie (includes GFC) 4.0 3.5 3.7x 3.0 2.5 2.0 3.0x 1.5x 1.5 1.4x 1.0 0.5 5.0 3.9x 4.0 3.5x 3.0 2.0 1.7x 1.4x 1.0x 0.6x 1.0x 0.7x 1.0 Global Investment Banks Global Banks Global Fund/Asset Managers Domestic Macquarie Asset Managers Domestic Majors Global Global Investment Fund/Asset Banks Managers Global Banks Domestic Macquarie Domestic Asset Majors Managers 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 17 Feb 20. 13

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