Investor Presentaiton

Macquarie FY20 result announcement I macquarie.com Macquarie Capital Result Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices O MACQUARIE 2,834 • Lower fee and commission income of $A951m, down 7% on FY19 due to lower debt capital markets fee income and other fee income, partially offset by higher mergers and acquisitions fee income • ⚫ Investment-related income of $A1,158m, down 40% on FY19 predominantly due to: - Lower revenue from asset realisations compared to a strong prior year - Lower interest and trading income due to higher funding costs for balance sheet positions reflecting increased activity - A change in the composition of investments in the portfolio including increased development expenditure in relation to green energy projects Credit and other impairment charges of $A267m, up 53% on FY19 primarily related to a small number of loan facilities in the debt portfolio and a deterioration in current and expected macroeconomic conditions as a result of COVID-19 impacting the performing loan portfolio • Total operating expenses of $A1, 168m, up 9% on FY19 primarily driven by additional headcount in the US and Europe to support future business growth and unfavourable foreign exchange movements FY20 $Am FY19 $Am Fee and commission income 951 1,023 Investment-related income (ex non-controlling 1,158 1,945 interests) Investment and other income¹ 1,199 1,858 Net interest and trading (expense)/income² (41) 87 Credit and Other impairment charges (267) (175) Internal management revenue³ Net operating income Total operating expenses Non-controlling interests Net profit contribution4 Capital markets activity5: Number of transactions Transactions value ($Ab) Headcount 64 41 1,906 (1,168) (1,073) 17 13 755 1,774 376 417 319 478 1,547 1,369 1. Includes net income on equity and debt investments, share of net losses of associates and joint ventures and other (expenses)/income. 2. Includes internal net interest expense and transfer pricing on funding provided by Group Treasury that is eliminated on consolidation in the Group's statutory P&L. 3. Internal revenue allocations are eliminated on consolidation in the Group's statutory P&L. 4. Management accounting profit before unallocated corporate costs, profit share and income tax. 5. Source: Dealogic and IJGlobal for Macquarie Group completed M&A, investments, ECM and DCM transactions converted as at the relevant report date. Deal values reflect the full transaction value and not an attributed value. 65

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