Investor Presentaiton

Overview of Macquarie Operating Groups 1Q23 Update Outlook Appendix 1Q23 Overview 10 Favourable trading conditions with 1Q23 operating group contribution up on the prior corresponding period (pcp) (1Q22), although trading conditions did soften during the quarter • Macquarie's annuity-style businesses (MAM and BFS) combined 1Q23 net profit contribution¹ significantly up on pcp, primarily due to income from GIG asset realisations in MAM partially offset by the Macquarie Infrastructure Corporation disposition fee in the pcp. BFS contribution was broadly in line with pcp • Macquarie's markets-facing businesses (CGM and Macquarie Capital) combined 1Q23 net profit contribution¹ slightly up on pcp primarily due to strong results across the Commodities platform in CGM including the impact of timing of income recognition on gas transport and storage contracts and higher investment-related income in Macquarie Capital, partially offset by the sale of the CGM UK commercial and industrial smart meters portfolio in the pcp O Macquarie Group Limited 1. Net profit contribution is management accounting profit before unallocated corporate costs, profit share and income tax. Net profit contribution and prior corresponding periods above are inclusive of the GIG transfer to MAM from MacCap. 38

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