Investor Presentaiton

Macquarie FY20 result announcement I macquarie.com Macquarie Asset Management Result Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices O MACQUARIE FY20 FY19 Base fees of $A2,021m, up on FY19 $Am $Am Base fees 2,021 1,778 Performance fees 821 765 Net operating lease income 380 662 - Investment-related and other income1 741 227 Credit and Other impairment charges (231) (105) Net operating income 3,732 3,327 Brokerage, commission and (267) (248) trading-related expenses Other operating expenses Total operating expenses Non-controlling interests Net profit contribution² AUM ($Ab) MIRA EUM ($Ab) (1,287) (1,554) (1) (1,205) (1,453) (2) 2,177 1,872 605.7 550.0 149.3 Headcount 1,899 127.9 1,900 Foreign exchange movements, fees earned on the MAF joint venture, investments made by MIRA- managed funds and mandates as well as contributions as a result of assets acquired from Foresters during the year partially offset by the internalisation of ALX and asset realisations in MIRA-managed funds Performance fees of $A821m, up on FY19 - FY20 included performance fees from a broad range of funds including MEIF, MEIF3, MEIF4, MIP, MIP II, GIF II, GIF III, MSCIF and other MIRA-managed funds, managed accounts and co- investors - FY19 included performance fees from MEIF, MEIF3, ALX, MIP, GIF II, KMGF and other MIRA- managed funds, managed accounts and co-investors Net operating lease income of $A380m, down on FY19 driven by the sale of MAF to a joint venture during the first half, partially offset by the acquisition of rotorcraft assets during the prior year Investment-related and other income of $A741m, up on FY19, primarily driven by gains on sale of investments, higher equity accounted income from the sale of a number of underlying assets and income from the MAF joint venture during the year, as well as a one-off payment from ALX for the termination of management rights related to APRR ⚫ Credit and other impairment charges of $A231m were higher due to a deterioration in current and expected macroeconomic conditions as a result of COVID-19, including an impairment charge on the investment in MIC and a small number of other investments Total operating expenses of $A1,554m up 7% on FY19 mainly driven by foreign exchange movements, the impact of a new business acquired during the year (Foresters) and the full year impact of the GLL and Valuelnvest acquisitions completed in the prior year, partially offset by cost savings initiatives 1. Investment-related income includes net income on equity and debt investments and share of net profits of associates and joint ventures. Other income includes other fee and commission income, net interest and trading expense, other income and internal management revenue. 2. Management accounting profit before unallocated corporate costs, profit share and income tax. 62 62

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