Macquarie Group, Ltd. · ASX:MQG
Macquarie — Debt Investor Presentation (July 2026)
57 slides from Macquarie's debt investor presentation, July 2026
Slide 1: Presentation to Debt Investors
Presentation to Debt Investors Macquarie Group Limited July 2026
Slide 2: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED) OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLI
Slide 3: Disclaimer
Disclaimer PROHIBITION OF SALES TO UK RETAIL INVESTORS – Nothing in this presentation is taken to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom (“UK”). For these purposes, a retail investor mea
Slide 4: Agenda
Agenda 01 Overview 02 FY26 Results 03 1Q27 Update 04 Capital and 05 Outlook 06 Appendices Funding © Macquarie Group Limited 4
Slide 5: Who we are
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Who we are Founded in 1969, Macquarie Group is an ASX listed global financial services company regulated by the Australian Prudential Regulation Authority (APRA), as the Non-Operating Holding Company of Macquarie Bank 57 years
Slide 6: Overview
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Slide 7: About Macquarie
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices About Macquarie ~48% ~28% ~24% Annuity-style | Income Markets-facing | Income BFS MAM CGM MacCap Banking and Financial Services Macquarie Asset Management Commodities and Global Markets Macquarie Capital • Macquarie’s retail ba
Slide 8: Macquarie funding structure
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Macquarie funding structure • MGL and MBL are Macquarie’s two primary external funding vehicles which have separate and distinct funding, capital and liquidity management arrangements • MBL provides funding to the Bank Group1 •
Slide 9: Diversification by region
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Diversification by region Total staff1 19,124 of which 50% international. A further ~265,000 people employed across managed fund assets and investments2 Americas EMEA Asia Australia3 31% of total income 28% of total income 9% o
Slide 10: 57 years of unbroken profitability
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices 57 years of unbroken profitability FY26 Staff: 19,1241 $Am FY25 1 Elizabeth Organic growth Street Acquisitions FY21 Waddell FY08 Regional expansion Established Macquarie & Reed Received FY13 FY17 Staff Group Cargill a HK Establ
Slide 11: Ratings
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Ratings Macquarie Bank Limited (MBL) Macquarie Group Limited (MGL) Moody's Ratings S&P Global Moody's Ratings S&P Global Aaa AAA Aaa AAA Aa1 AA+ Aa1 AA+ Aa2 AA Aa2 AA Aa3 AA- Aa3 AA- A1 A+ A1 A+ A2 A A2 A A3 A- A3 A- Baa1 BBB+
Slide 12: Risk management and culture
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Risk management and culture Risk Management Framework Macquarie’s approach to risk management is based on stable and robust core risk Continuous enhancement of the risk management approach management principles and embedding of
Slide 13: FY26 Results
02 FY26 Results
Slide 14: FY26 result: $A4,847m up 30% on FY25
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices FY26 result: $A4,847m up 30% on FY25 2H26 1H26 2H26 v FY26 FY25 FY26 v $Am $Am 1H26 $Am $Am FY25 Net operating income 10,786 8,691 24% 19,477 17,208 13% Total operating expenses (6,509) (6,239) 4% (12,748) (12,140) 5% O
Slide 15: FY26 net profit contribution from Operating Groups
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices FY26 net profit contribution from Operating Groups $A9,924m up 36% on FY25 Annuity-style Markets-facing Non-Banking Group $A2,602m Macquarie Asset Management (MAM) $A1,491m Macquarie Capital (MacCap) Increase primarily driven b
Slide 16: Macquarie Asset Management
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Private Markets Public Investments Macquarie Asset • $A416.1b in Assets under Management1, up 7% on 31 Mar 25, primarily driven by increased investments and net asset valuation • $A306.0b in Assets under Management1, up 10% on
Slide 17: Banking and Financial Services
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Personal Banking Business Banking Wealth Management Banking and • Home loan portfolio4 of $A181.3b, up 28% on • 31 Mar 25, representing approximately 7.1% Business Banking loan portfolio of $A18.1b, up 8% on 31 Mar 25 • Funds o
Slide 18: Banking and Financial Services
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Banking and Financial Services Strong growth across home loans, deposits, funds on platform and business banking loans $Ab $Ab Home loans1 BFS deposits2 Funds on platform Business banking loans 31 Mar 23 31 Mar 24 31 Mar 25 31
Slide 19: Home loan portfolio composition
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices NT Home loan portfolio composition 0.3% QLD 23.9% 28% 65% 51% WA 10.2% Home loan growth Average LVR at Average Dynamic in FY26 Origination1 LVR2 NSW 33.7% ACT 2.1% SA 4.6% VIC TAS 24.5% 0.7% Data points as at 31 Mar 26 unless s
Slide 20: Commodities and Global Markets
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Asset Finance 17%1 Commodities 51%1 Financial Markets 32%1 Commodities and • Significant contribution from the divestment of the OnStream meters • Increased risk management income primarily driven by increased client hedging ac
Slide 21: Strong underlying client business
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Strong underlying client business Majority of income derived from underlying client business Operating Income Client numbers (excl. credit and other impairment charges) (excl. Asset Finance) Underlying client business1 • 45+ ye
Slide 22: Underlying client activity driving regulatory capital and trading revenues
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Underlying client activity driving regulatory capital and trading revenues Regulatory capital1 Group daily trading profit and loss2 FY22 - FY26 Days $Am • Majority of capital relates to credit risk reflecting client focused bus
Slide 23: Macquarie Capital
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices MacCap Macquarie • Advising and investing in areas of deep expertise in sectors such as Infrastructure, Government Services, Critical Minerals & Energy, • • No. 1 in ANZ for M&A3 and Bookrunner ECM4 Financial Adviser of the Yea
Slide 24: Macquarie Capital
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Macquarie Capital Movement in capital Private Credit capital sector exposures2 $Ab 1.4 6.6 (1.3) 6.2 (0.5) 3 1 1. Other (incl. FX) includes accounting movements. 2. Exposures shown follow the economic capital adequacy methodolo
Slide 25: 1Q27 Update
03 1Q27 Update
Slide 26: Management Changes
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Management Changes The Board confirms Shemara Wikramanayake’s upcoming retirement from her role as Managing Director and Chief Executive Officer of Macquarie Group. Ms Wikramanayake will step down from the Boards of Macquarie G
Slide 27: 1Q27 Overview
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices 1Q27 Overview Satisfactory trading conditions in the June 2026 quarter (1Q27) • MAM net profit contribution down on prior corresponding period (pcp) (1Q26), driven by the divestment of the North American and European public inv
Slide 28: 1Q27 Overview
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices 1Q27 Overview Macquarie Asset Management Banking and Financial Services ● $A748.0b in AUM1 at Jun 26, up 4% on Mar 26, primarily driven by increased ● Home loan portfolio5 of $A191.5b at Jun 26, up 6% on Mar 26 net asset valuat
Slide 29: 1Q27 Overview
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices 1Q27 Overview Commodities and Global Markets Macquarie Capital ● Commodities: contribution increased on pcp, primarily driven by increased ● Higher investment-related and brokerage income, partially offset by lower advisory fee
Slide 30: Capital and Funding
04 Capital and Funding
Slide 31: Capital, funding and liquidity update
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Capital, funding and liquidity update APRA Basel III Level 2 CET1 ratio APRA Basel III Leverage ratio Liquidity Coverage Ratio (LCR)2 Net Stable Funding Ratio (NSFR) 13.8% 4.5% 192% 113% 18.9% Harmonised1 5.0% Harmonised1 Group
Slide 32: Business capital requirements
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Business capital requirements 1Q27 Key drivers 1Q27 business capital requirements1 decrease of $A1.4b, MAM excluding FX movements ● Net movements in fund co- investments, underwrites and $Ab divestments 36.0 1.1 0.2 34.0 $A33.4
Slide 33: Tier 2 Capital
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Tier 2 Capital • As at 30 Jun 26, MBL had $A12.9b of eligible Tier 2 capital Composition by currency Composition by format (subordinated debt) which represented ~8.4% of Level 2 RWAs • On 4 Dec 25, APRA finalised consequential
Slide 34: Diversified issuance strategy
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Diversified issuance strategy Term funding as at 31 Mar 26 – diversified by currency, tenor and type Currency1 Tenor2 Type 4.1 years Weighted Average Maturity3 Term Issuance and Maturity Profile 3 $Ab Mar 26: Weighted average m
Slide 35: Diversified deposit base
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Diversified deposit base Macquarie has seen continued success in its long-term strategy of diversifying funding sources by growing its deposit base Of approximately 2.3 million BFS clients, ~2.1 million are depositors $Ab Compo
Slide 36: Strong liquidity position maintained
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Strong liquidity position maintained • 173% average LCR for Mar 26 quarter, based on daily observations1,2 – Well above regulatory minimum • Reflects longstanding conservative approach to liquidity management MBL LCR position1,
Slide 37: Outlook
05 Outlook
Slide 38: Short-term outlook
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Short-term outlook Factors impacting short-term outlook Annuity-style Markets-facing Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Base fees expected to be broadly in line, excluding the contri
Slide 39: Short-term outlook
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Short-term outlook The range of factors that may influence our short-term outlook include: ● Market conditions including: global economic conditions, inflation and interest rates, significant volatility events, and the impact o
Slide 40: Medium-term outlook
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Medium-term outlook Macquarie remains well-positioned to deliver superior performance in the medium term with established, diverse income streams Deep expertise across diverse sectors in major markets with structural growth tai
Slide 41: Medium-term outlook
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Medium-term outlook Annuity-style Markets-facing Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Well-positioned to respond to current market conditions and build on our ● Deploys its balance she
Slide 42: Appendices
06 Appendices
Slide 43: Macquarie's Climate Strategy
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Macquarie’s Climate Strategy We have recalibrated our climate commitments, returning our focus to supporting the goals of the Paris Agreement Our climate ambition Our approach to climate change is Maintaining net zero for Scope
Slide 44: Income statement key drivers
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Income statement key drivers Net interest and trading income of $A10,159m, up 14% on FY25 2H26 1H26 FY26 FY25 • Higher risk management income primarily due to increased client hedging activity across Global Gas $Am $Am $Am $Am
Slide 45: Regulatory compliance and technology spend
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Regulatory compliance and technology spend Investment has continued, albeit growth has remained well below historical rates, reflecting ongoing regulatory and compliance requirements and business investment in platforms and dig
Slide 46: Loan portfolio – funded balance sheet
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Loan portfolio – funded balance sheet Operating Mar 26 Mar 25 Group Category $Ab $Ab Description Home loans 183.0 143.0 Loans secured by mortgages over residential property Business banking 18.1 16.6 Loan portfolio secured larg
Slide 47: Equity investments
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Equity investments1 of $A13.0b Operating Carrying Value Carrying Value Group Category Mar 26 $Ab Mar 25 $Ab Description Macquarie Asset Management Private Includes investments in regional infrastructure and core infrastructure,
Slide 48: Regulatory update
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Regulatory update Australia ● APRA has finalised or is in the process of implementing changes to a number of prudential standards. Macquarie notes there have been the following key updates: – On 4 Dec 25, APRA released final ch
Slide 49: Approximate business Basel III Capital and ROE
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Approximate business Basel III Capital and ROE 31 Mar 26 APRA Basel III Capital FY26 Return on Ordinary 20-year Average Return on Operating Group @ 10.5% ($Ab) Equity1 Ordinary Equity2 Macquarie Asset Management 4.2 21% 21% Ban
Slide 50: Funded balance sheet reconciliation
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Funded balance sheet reconciliation • Macquarie’s statement of financial position is prepared based on Australian Accounting Standards. The funded balance sheet is a representation of Macquarie’s funding requirements once certa
Slide 51: Funding for Macquarie
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Funding for Macquarie Mar 26 Mar 25 • Well-diversified funding sources $Ab $Ab • Term assets covered by term funding, stable deposits, hybrids, Funding sources subordinated debt and equity Commercial paper and certificates of d
Slide 52: Funding for the Bank Group
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Funding for the Bank Group Mar 26 Mar 25 • Bank balance sheet remains liquid and well capitalised, with a diverse $Ab $Ab range of funding sources Funding sources • Term funding beyond one year (excluding deposits, equity and C
Slide 53: Funding for the Non-Bank Group
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Funding for the Non-Bank Group Mar 26 Mar 25 • Non-Bank Group is predominantly term funded $Ab $Ab • Term funding beyond one year (excluding equity and securitisations) Funding sources has a weighted average term to maturity of
Slide 54: Explanation of funded balance sheet reconciling items
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Explanation of funded balance sheet reconciling items Self-funded Derivative revaluation Segregated funds Other trading assets Offsetting derivative positions do not These represent the assets and liabilities that Macquarie thr
Slide 55: Glossary
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Glossary $A / AUD Australian Dollar CAGR Compound Annual Growth Rate $C Canadian Dollar CCB Capital Conservation Buffer $US / USD United States Dollar CCyB Countercyclical Capital Buffer £ / GBP Pound Sterling CET1 Common Equit
Slide 56: Glossary
Overview FY26 Results 1Q27 Update Capital and Funding Outlook Appendices Glossary HQLA High-Quality Liquid Assets MSCI Morgan Stanley Capital International IFRS International Financial Reporting Standards MW Megawatt IRB Internal Ratings-Based No. Number IRRBB Interest Rate Risk in the Banking Book
Slide 57: Presentation to Debt Investors
Presentation to Debt Investors Macquarie Group Limited July 2026
Macquarie Group — Debt Investor Presentation (July 2026) on 6ix