Macquarie Group, Ltd. · ASX:MQG
Macquarie — Non-Deal Roadshow (March 2025)
43 slides from Macquarie's roadshow presentation, Mar 12, 2025
Slide 1: Macquarie Group, EMEA Investor Tour
Macquarie Group, EMEA Investor Tour Day 3, London 12 March 2025 1 © Macquarie Group Limited
Slide 2: Disclaimer
Disclaimer This information has been prepared on a strictly confidential basis by Macquarie Group Limited (ABN 94 122 169 279) (“MGL”) and may neither be reproduced in whole nor in part, nor may any of its contents be divulged, to any third party without the prior written consent of MGL. Information
Slide 3: Macquarie Asset Management
01 Macquarie Asset Management Ben Way
Slide 4: Macquarie Asset Management
MAM Clients Real Assets Credit Q&A Macquarie Asset Management Trusted by clients to protect and grow their assets responsibly Assets under Management - $A943b Real Assets Real Estate Credit Equities & Multi-Asset $A314b $A20b1 $A347b $A262b2 • Infrastructure • Opportunistic • Private Credit • Equiti
Slide 5: Global platform, local presence $A943b
MAM Clients Real Assets Credit Q&A Global platform, local presence $A943b Assets under Management Deep expertise across key markets and sectors Team AMERICAS EMEA 2,273 116 ~16 years staff1 across cultural average tenure of 910 ~$A387b 40+ 572 ~$A204b 50+ 22 markets identities Executive Directors st
Slide 6: Risk management approach
MAM Clients Real Assets Credit Q&A Risk management approach Case study: Enhancing WHS management in our portfolio Czech Gas Networks (CGN) CGN is Czech Republic’s largest gas network. MAM via managed funds first invested in CGN in Ownership of risk 2013 with subsequent stake increases through at the
Slide 7: MAM in EMEA
MAM Clients Real Assets Credit Q&A MAM in EMEA Regional presence since 572 1999 staff1 with 85,000+ employed by fund Local presence for over 25 years portfolio companies2 Clients 10 markets 400+ $A55b+ institutional clients capital raised from EMEA in in EMEA the last 5 years3 12 locations Business
Slide 8: Portfolio in EMEA
MAM Clients Real Assets Credit Q&A Portfolio in EMEA Delivering positive impact2 Managing $A204b AUM across Sweden Finland 50+ portfolio companies1 National gas transmission network, delivering gas to 23 million UK households # companies and enabling gas-fired power generation Sector / platforms Uni
Slide 9: Evolution in EMEA
MAM Clients Real Assets Credit Q&A Evolution in EMEA Investing for growth 1999 2001 2004 2007 2010 2012 2015 2018 2019 2021 2023 2024 Transport Airports Utilities Global Listed Multi-Asset Core/Core Emerging Secured Insurance3 Global Fixed Infrastructure Infrastructure Opportunistic Plus Real Market
Slide 10: Momentum in EMEA
MAM Clients Real Assets Credit Q&A Momentum in EMEA EMEA’s contribution to MAM’s Strong growth in activity and earnings over time global business (5-year average)2 Capital raised and deployed1 Base fees 70 $Ab 800 $Am 740 ~44% Capital raised 63 58 586 Private Markets ~50% 523 40 base fees 35 31 400
Slide 11: Established diverse income streams
MAM Clients Real Assets Credit Q&A Established diverse income streams MAM generates significant and growing annuity-style income MAM average income FY20-FY241 MAM’s diversity of income Annuity-style Markets-facing 28% Annuity-style income MAM Base fees MAM Performance fees MAM Investment- MAM Invest
Slide 12: Delivering on MAM's strategy
MAM Clients Real Assets Credit Q&A Delivering on MAM’s strategy FY25 progress Broaden and deepen our Build on our leading position Scale and optimise our client relationships in Real Assets investment capabilities • Partnerships: Grew strategic partnerships • Infrastructure: Closed largest-ever Euro
Slide 13: Market opportunity in EMEA
MAM Clients Real Assets Credit Q&A Market opportunity in EMEA Strong long-term tailwinds driving opportunity across our asset classes Key investment thematics Credit Investment required by 20401 Private credit AUM – Europe2 $USt $USb 40 1,000 ~900 14 32 20 500 469 12 5 94 0 0 Digitalisation Decarbon
Slide 14: Today's roadmap
MAM Clients Real Assets Credit Q&A Today’s roadmap Our focus in EMEA Broaden and deepen our Build on our leading Scale and optimise our client relationships position in Real Assets investment capabilities In today’s agenda, you’ll hear how we deliver this in practice in the region Clients Real Asset
Slide 15: Clients
02 Clients Gillian Evans and Raffaella Copper
Slide 16: Clients in EMEA – Global platform, regional partnerships
MAM Clients Real Assets Credit Q&A Clients in EMEA – Global platform, regional partnerships 400+ $A100+ billion 67 client professionals across 10 capital managed for clients EMEA clients 8 markets languages Capital managed by asset class Capital managed by market1 Credit UK & Ireland 37 31% DACH (Ge
Slide 17: Broaden and deepening relationships – Key client channels
MAM Clients Real Assets Credit Q&A Broaden and deepening relationships – Key client channels Accessing large pools of capital through partnerships Pensions Insurers Wealth • Pension funds continue to consolidate. • Continuing trend of insurance • EMEA is the key hub for some of the Two-thirds of €9.
Slide 18: Building our presence in new markets
MAM Clients Real Assets Credit Q&A Building our presence in new markets Areas of opportunity Our expanding client base Bringing new investment capabilities to market • Delivering a wider suite of Italy Spain strategies to a broader range of clients in Italy 53 clients 10 clients 0 ~$A4b 0 ~$A1b Broa
Slide 19: Case study - A European insurance partnership
MAM Clients Real Assets Credit Q&A Case study - A European insurance partnership Multi-year strategic partnership built on trust resulting in ~$A2.5b commitments for MAM1 Approach Evolution of relationship across six strategies Background 2025 – Credit Continuing to explore ● Insurer with ambitious
Slide 20: Real Assets
03 Real Assets Martin Bradley, Gabriele Duesberg and Maks Dadej
Slide 21: MAM Real Assets in EMEA
MAM Clients Real Assets Credit Q&A MAM Real Assets in EMEA Part of a leading global platform with 25 years of experience Top 5 65k+ energy network portfolio company Scale and presence ~$A147b 49 16 operator5 employees and ~20k contractors2 AUM1 portfolio markets2 companies2 Track record and expertis
Slide 22: MAM Infrastructure in EMEA – Growth and diversification
MAM Clients Real Assets Credit Q&A MAM Infrastructure in EMEA – Leading infrastructure investment manager in EMEA by AUM 3 Growth and diversification European infrastructure funds capital raise1 ~$A130b 13.1% €b AUM4 gross realised IRR 10 since inception6 €8.0b AUM by sector4,5 5 €6.0b 56% 24% €4.0b
Slide 23: Infrastructure investment approach and recent activity
MAM Clients Real Assets Credit Q&A Infrastructure investment approach and recent activity Recent highlights (Last ~12 months) Acquired 5 assets1,2 Active Completed pipeline Lynn and Inner Dowsing Long-term Bespoke Deep in-house Quality local market solutions sectorial industrial presence provider ex
Slide 24: Opportunities for the platform
MAM Clients Real Assets Credit Q&A Opportunities for the platform Unlocking opportunity through… Utilities Digital Transport $US8.9t >5x 5x Embracing Addressing complexity unmet to find community investment required in growth in EMEA data centre growth in EMEA EV opportunities needs EMEA by 20401 ca
Slide 25: Value creation approach
MAM Clients Real Assets Credit Q&A Value creation approach Farnborough Airport (MEIF6 – Transport) VIRTUS Data Centres (MEIF7 – Digital) 606 MW Investment in growth +73% 228 MW >2.5x hangar capacity secured development capacity 2022 Acquisition 2024 Telpark (MEIF5 - Transport) Currenta (MEIF5 & 6 -
Slide 26: Case study - Beauparc Utilities
MAM Clients Real Assets Credit Q&A Case study - Beauparc Utilities First European waste investment, which has grown through strategic consolidation with further organic capex growth planned Since the MAM-led Overview EBITDA evolution from acquisition acquisition €m Date of investment: 150 10 147 Aug
Slide 27: MAM Green Investments – Global platform
MAM Clients Real Assets Credit Q&A MAM Green Investments – Global platform Large global team with Globally scaled platform and differentiated sector experience a partner of choice in the industry 20 years 35 investing in the investments energy transition1 managed 100+ ~100 3,000+ 90% investments int
Slide 28: MAM Green Investments – Global dedicated strategies
MAM Clients Real Assets Credit Q&A MAM Green Investments – Global dedicated strategies Expanded suite of growing dedicated energy transition products are providing institutional and wealth clients with exposure to the energy transition Evolution of energy transition strategies1 Global fiduciary asse
Slide 29: Large and growing market opportunity
MAM Clients Real Assets Credit Q&A Large and growing market opportunity Europe is one of the leading regions for clean energy deployment EU27 energy transition annual investment1 Renewables % of European energy mix3 $USb % 1,000 1,000 60% 42% 500 474 30% 24% 10% 21 0 0% 2005 2023 2030 (BNEF NZS) 2 2
Slide 30: Renewables
MAM Clients Real Assets Credit Q&A Established and market leading platform Our EMEA portfolio Our focus areas Driving Delivering market first-of-its-kind Renewables evolution solutions UK offshore wind assets Pursuing Strengthening Energy transition scale and position as consolidation trusted partne
Slide 31: Case study – Hydro Rein
MAM Clients Real Assets Credit Q&A Case study – Hydro Rein MAM has invested into Hydro Rein alongside Norsk Hydro to deliver new clean energy infrastructure driving the decarbonisation of the aluminium industry Hydro Rein overview Global industrial and one of the Leading infrastructure A leading ren
Slide 32: Credit
04 Credit Peter Glaser and Tom van Rijsewijk
Slide 33: MAM Credit – Global overview
MAM Clients Real Assets Credit Q&A MAM Credit – Global overview ~200 Investment professionals Main London ~$A347 billion investment New York AUM ~550 hubs Philadelphia Total staff1 Sydney A global credit MAM Credit Platform platform offering focused expertise and Private Credit Leveraged Credit Fixe
Slide 34: MAM Credit - Global platform
MAM Clients Real Assets Credit Q&A MAM Credit - Global platform Comprehensive Credit offering liquid and illiquid capabilities, with a focus on building an alternative credit platform to generate higher returns and margins Credit: ~$A240 trillion market Fixed Income: ~$A230 trillion1 Leveraged Credi
Slide 35: MAM Credit EMEA – Capabilities
MAM Clients Real Assets Credit Q&A MAM Credit EMEA – Capabilities ~$A38 billion AUM ~60 investment professionals Private Credit Fixed Income Infrastructure Secure Income Structured Direct Lending Global Fixed Emerging Real Estate Credit Income Markets Debt • Project and • Ground Lease • Leverage for
Slide 36: Growth of our Private Credit business
MAM Clients Real Assets Credit Q&A Growth of our Private Credit business Our strength in infrastructure debt has been a core driver of organic growth; we believe future growth will be driven by a range of alternative credit capabilities Private Credit AUM and Deployments – EMEA Drivers of future gro
Slide 37: Infrastructure Debt EMEA
MAM Clients Real Assets Credit Q&A Infrastructure Debt EMEA We have an industry-leading EMEA Infrastructure Debt strategy with strong client support Top 3 ~$A4b Infrastructure funds raised from $A21b Debt Manager existing clients over Globally1 the past 24 months2 AUM3 22 10 dedicated years average
Slide 38: Case study - Stegra
MAM Clients Real Assets Credit Q&A Case study - Stegra Financing for the world’s first large-scale green steel plant Asset characteristics • Competitive advantages including proximity to low-cost renewable energy sources • Credible management and delivery team • Attractive risk-adjusted returns Fund
Slide 39: Closing remarks and Q&A
05 Closing remarks and Q&A Ben Way
Slide 40: What's next for MAM in EMEA
MAM Clients Real Assets Credit Q&A What’s next for MAM in EMEA Broaden and deepen our client relationships ● Scale institutional (including insurance) and wealth partnerships and expand into key geographies ● Enhance clients’ experience with continued tailored engagements and digital tools Build on
Slide 41: Macquarie Group, EMEA Investor Tour
Macquarie Group, EMEA Investor Tour Day 3, London 12 March 2025 41 © Macquarie Group Limited
Slide 42: Glossary
MAM Clients Real Assets Credit Q&A Glossary $A / AUD Australian Dollar EUM Equity Under Management $US / USD United States Dollar FTE Full Time Equivalent € / EUR Euro FX Foreign Exchange £ / GBP Great British Pound FY Full Year ended 31 March 1H Half Year ended 30 September IG Investment Grade 3Q T
Slide 43: Macquarie Group, EMEA Investor Tour
Macquarie Group, EMEA Investor Tour Day 3, London 12 March 2025 43 © Macquarie Group Limited