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Investor Presentaiton

Macquarie FY20 result announcement I macquarie.com Introduction Overview of Result Result Analysis and Financial Management. Outlook Appendices MAM AUM movement O MACQUARIE Increase due to investments by MIRA-managed funds, MIM acquisition and FX movements partially offset by recent market movements and a reduction in contractual insurance assets in MIM and divestments by MIRA-managed funds $Ab 700 MIM +0.1 MIM +21.5 21.7 29.8 600 10.2 13.0 (23.1) 11.9 MAM 562.0 MAM 550.0 (29.4) 22.2 MAM 605.7 (0.6) 500 MIRA 189.0 400 300 200 MIM 361.0 n0 100 MIRA 200.9 MIM 361.1 MIRA 223.1 MIM 382.6 0 31-Mar-19 MIM FX impacts MIM market movements MIM Net flows MIRA movement 30-Sep-19 MIM FX impacts MIM Acquisition³ MIM market (see EUM)² movements MIM Net flows MIRA movement (see EUM)² 31-Mar-20 1. $A23.1b of MIM net outflows were primarily driven by contractual fixed income insurance assets and other short-term fixed income allocations. 2. MIRA tracks its funds under management using an EUM measure as base management fee income is typically aligned with EUM. EUM and AUM are calculated under different methodologies and as such, EUM movement is the more relevant metric for analysis purposes - refer to MIRA EUM movement on slide 34. MIRA's total EUM includes market capitalisation at measurement date plus underwritten or committed future capital raisings for listed funds, the sum of original committed capital less capital subsequently returned for unlisted funds and mandates as well as invested capital for managed businesses. AUM is calculated as proportional enterprise value at measurement date including equity value and net debt of the underlying assets of funds and managed assets. AUM excludes uninvested equity in MIRA. Refer MD&A s7 for further information with respect to EUM and AUM measures. 3. Acquisition of the assets related to the mutual fund management business of Foresters Investment Management Company Inc. as well as approximately $US4b of contractual insurance assets. 33
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