Investor Presentaiton

Important Disclosures: Recommendation definitions Macquarie - Asia and USA Outperform expected return >10% Neutral - expected return from -10% to +10% Underperform - expected return <-10% Macquarie - Australia/New Zealand Outperform expected return >10% - Neutral - expected return from 0% to 10% Underperform - expected return <0% Note: expected return is reflective of a Medium Volatility stock and should be assumed to adjust proportionately with volatility risk Volatility index definition* This is calculated from the volatility of historic price movements. Very high-highest risk - Stock should be expected to move up or down 60-100% in a year - investors should be aware this stock is highly speculative. High-stock should be expected to move up or down at least 40-60% in a year - investors should be aware this stock could be speculative. Medium - stock should be expected to move up or down at least 30-40% in a year. Low-medium-stock should be expected to move up or down at least 25-30% in a year. Low - stock should be expected to move up or down at least 15-25% in a year. * Applicable to select stocks in Asia/Australia/NZ Recommendation - 12 months Note: Quant recommendations may differ from Fundamental Analyst recommendations Financial definitions All "Adjusted" data items have had the following adjustments made: Added back: goodwill amortisation, provision for catastrophe reserves, IFRS derivatives & hedging, IFRS impairments & IFRS interest expense Excluded: non recurring items, asset revals, property revals, appraisal value uplift, preference dividends & minority interests = EPS adjusted net profit/efpowa* ROA = adjusted ebit / average total assets ROA Banks/Insurance = adjusted net profit /average total assets ROE = adjusted net profit / average shareholders funds Gross cashflow = adjusted net profit + depreciation *equivalent fully paid ordinary weighted average number of shares All Reported numbers for Australian/NZ listed stocks are modelled under IFRS (International Financial Reporting Standards). Recommendation proportions - For quarter ending 31 March 2023 AU/NZ Asia Outperform 56.13% 64.77% Neutral 37.74% 23.98% Underperform 6.13% 11.26% USA 64.49% 32.71% 2.80% (for global coverage by Macquarie, 2.51% of stocks followed are investment banking clients) (for global coverage by Macquarie, 1.83% of stocks followed are investment banking clients) (for global coverage by Macquarie, 0.00% of stocks followed are investment banking clients) 33

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