Investor Presentaiton

Overview of Macquarie Operating Groups 1Q23 Update Outlook Appendix Commodities and Global Markets Strong underlying client business which benefited from elevated levels of volatility along with partial sale of UK Meters portfolio 4,500 4,000 $Am Commodities $A653m 20 195 (20) 3,500 103 572 (22) 3,000 2,500 2,000 2,601 172 (169) 479 Investment 3,911 1,500 FY21 NPC Risk management Lending and financing Inventory management and trading¹ Financial Markets² Asset Finance³ and other income4 Credit and Other Other FY22 NPC Impairment Charges Key drivers Commodities up significantly on FY21 Increased Risk Management revenue across platform particularly Gas and Power businesses, Resources, Agriculture and Global Oil driven by increased client hedging activity and trading activity as a result of elevated levels of volatility and price movements in Commodity markets, partially offset by the impact of fair value adjustments across the derivatives portfolio Lending and Financing down on FY21 with reduced contributions in specific sectors Inventory management and trading up on FY21 driven by trading gains from supply and demand imbalances particularly in North American Gas and Power partially offset by unfavourable impact of timing of income recognition on Gas storage and transport contracts Financial Markets up on FY21 primarily due to increased client activity in global structured foreign exchange products, growth in securitisation and credit products and improved contribution from Equity Finance Asset Finance down in the Technology, Media and Telecoms (TMT) sector due to a reduction in secondary income, partially offset by increased financing income from growth in Structured Lending and Shipping Finance portfolios Investment and other income gains primarily due to the gain on partial sale of UK Meters portfolio of assets Decrease in credit and other impairment charges driven by partial release of COVID-19 overlays. Credit provisioning levels remain prudent with the combined downside macroeconomic scenarios having a higher weighting than the upside scenario Other down on FY21 due to an increase in Operating Expenses driven by higher expenditure on technology platform and infrastructure and increasing compliance and regulatory management spend 1. Inventory management and trading increase includes Oil, Gas, Power and Metals trading and timing of income recognition on Oil and Gas storage contracts and transport agreements. 2. Financial Markets includes FX, interest rates and credit and equities. 3. Asset Finance includes net interest and trading income and net operating lease income. 4. Includes net income on equity, debt and other investments, share of net profits from associates and joint ventures, internal management revenue and other income. O Macquarie Group Limited 58

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