Investor Presentaiton

Overview of Macquarie Operating Groups 1Q24 Update Outlook Appendix Commodities and Global Markets Strong underlying client business which benefitted from elevated volatility levels $Am Commodities $A2,719m 8,000 7,000 6,000 125 1,018 5,000 4,000 3,000 2,000 3,911 1,000 1,576 114 38 FY22 NPC Risk management Lending and financing Inventory Financial management Markets and trading 2 Asset Finance³ 1 117 (450) (442) Investment and other income4 6,007 Operating expenses Other FY23 NPC Key drivers • Commodities up substantially on FY22 • • - - Strong Risk Management revenue across the platform particularly in Gas and Power, Global Oil and Resources driven by increased client hedging and trading activity as a result of elevated volatility and price movements in commodity markets Lending and Financing up on FY22 due to increased activity and margins across energy sectors Inventory management and trading increased substantially driven by trading gains from regional supply and demand imbalances primarily in North American Gas and Power markets Financial Markets up on FY22 due to increased client hedging activity across foreign exchange, interest rate, and credit products in addition to increased revenues from financing activity Asset Finance up on FY22 due to increased volumes in the resources sector Investment and other income down primarily due to the gain on the partial sale of UK Meters portfolio of assets in FY22 Increased Operating expenses driven by higher expenditure on technology platform and infrastructure, increased compliance and regulatory spend and higher employment costs Other up on FY22 primarily due to higher fee income in Futures 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, net operating lease income and excludes the impact of the gain on the partial sale of UK Meters portfolio of assets in the prior year. 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 57 57

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