Slide 1: Presentation to investors and analysts
\ rv 7 | RANI \I| \\\ m We | \ AL Ma L\' ; { y TT \\\ i Serer A Nall | Xt “1 TH “Ww. AH T Ae AL WN a ANE St Presentation to investors and analysts Result announcement for the full year ended 31 March 2026 © macauarie 8 May 2026
Slide 2: Disclaimer
Disclaimer The material in this presentation has been prepared by Macquarie Group Limited ABN 94 122 169 279 (“MGL”) and is general background information about Macquarie’s (“MGL and its subsidiaries”) activities current as at the date of this presentation. This information is given in summary form
Slide 3: Introduction, Overview of Result, Result Analysis, Outlook, Appendices
01 02 03 Introduction Overview of Result Analysis Result and Financial Management 04 05 Outlook Appendices
Slide 4: Introduction
| Introduction Sam Dobson Head of Investor Relations ? y | gegeee ay | Vill “ ‘ Bs 1 = = Vd THAIN Ty Ty ae Vy =
Slide 5: Overview of Result
Overview of Result Shemara Wikramanayake Managing Director and Chief Executive Officer
Slide 6: About Macquarie
Introduction Overview of Result Result Analysis and Financial Management 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 • Ma
Slide 7: 2H26 result: $A3,192m up 93% on 1H26; FY26 result: $A4,847m up 30%
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices 2H26 result: $A3,192m up 93% on 1H26 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 á 24% 19,477 17,208 á 13% Total operatin
Slide 8: FY26 net profit contribution from Operating Groups $A9,924m up 36% on FY25
Introduction Overview of Result Result Analysis and Financial Management 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) á on FY2
Slide 9: Diversification by region
Introduction Overview of Result Result Analysis and Financial Management 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% 28% 9% 32% of total i
Slide 10: Macquarie Asset Management $A4,732m
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Private Markets Public Investments • $A416.1b in Assets under Management1, up 7% on 31 Mar 25, • $A306.0b in Assets under Management1, up 10% on 31 Mar 252, primarily driven by increased inves
Slide 11: Banking and Financial Services $A3,533m
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Personal Banking Business Banking Wealth Management • Home loan portfolio4 of $A181.3b, up 28% • Business Banking loan portfolio of $A18.1b, • Funds on platform of $A155.9b, up 1% on on 31 Mar 25,
Slide 12: Commodities and Global Markets $A7,802m
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Asset Finance 17%1 Commodities 51%1 Financial Markets 32%1 • Significant contribution from the • Increased risk management income primarily driven by Foreign exchange, interest rates and dives
Slide 13: Macquarie Capital $A3,058m
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie MacCap • Advising and investing in areas of deep expertise in sectors such as • No. 1 in ANZ for M&A3 and Bookrunner ECM4 Infrastructure, Government Services, Critical Minerals & Energy, • Financial
Slide 14: Funded balance sheet remains strong
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Funded balance sheet remains strong Term liabilities exceed term assets 31 Mar 25 31 Mar 26 $Ab $Ab 450 450 Other1 1% Commercial paper and 400 400 certificates of deposit 11% Cash and liquid assets 22% 1 Othe
Slide 15: Basel III Group capital position
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Basel III Group capital position • Strong capital position to support business activity and invest in new opportunities where expected risk-adjusted returns are attractive • APRA Basel III Level 2 CET1 ratio:
Slide 16: Business capital requirements
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Business capital requirements 2H26 Key drivers MAM FY26 business capital requirements1 increase of $A2.7b • Reduction due to divestments, excluding FX movements predominantly driven by completion of the sale
Slide 17: Strong regulatory ratios
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Strong regulatory ratios Bank Group Level 2 Ratios (Mar 26) 250.0% 250.0% 8.0% 20.0% 17.5% 200.0% 200.0% 16.0% 6.0% 5.3% 173% 150.0% 150.0% 12.0% 12.8% 4.7% 4.0% 116% 100.0% 100.0% 8.0% 2.0% 50.0% 50.0% 4.0%
Slide 18: Final dividend
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Final dividend 2H26 Ordinary Dividend FY26 Ordinary Dividend $A4.20 $A7.00 FROM FROM á $A3.90 á $A6.50 (35% franked) (35% franked) (35% franked) IN 2H25 (35% franked) IN FY25 2H26 Record Date Payout Ratio2 19
Slide 19: Result Analysis and Financial Management
Result Analysis and Financial Management Frank Kwok Chief Financial Officer
Slide 20: Income statement key drivers
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Income statement key drivers 2H26 1H26 FY26 FY25 Net interest and trading income of $A10,159m, up 14% on FY25 • Higher risk management income primarily due to increased client hedging activity across Global $
Slide 21: Macquarie Asset Management key drivers
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management Key drivers • Higher base fees primarily due to positive net flows and market movements in the Australian public Increase primarily driven by higher performance fees investments bus
Slide 22: MAM AUM movement
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices MAM AUM movement MAM AUM increased by 8% (excluding the impact of the divested business1) primarily driven by increased fund investments, net asset valuation changes and net flows $Ab Private Markets 27.1 Pub
Slide 23: Banking and Financial Services key drivers
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services Key drivers • Higher Personal Banking income driven by 24% growth in average home loan volumes5 and 28% Growth in the loan portfolio and BFS deposits growth in average deposit v
Slide 24: Banking and Financial Services
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services Strong growth across home loans, deposits, funds on platform and business banking loans $Ab $Ab 240 20 215.3 18.1 16.7 15.8 181.3 180 172.4 15 154.0 155.9 13.0 141.7 142.7 147.4
Slide 25: Commodities and Global Markets key drivers
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets Key drivers • Commodities income of $A3,637m, up 20% on FY25 – Risk management income was higher, primarily Strong underlying client business; well-positioned for upside driven
Slide 26: Strong underlying client business
Introduction Overview of Result Result Analysis and Financial Management 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
Slide 27: Underlying client activity driving regulatory capital and trading revenues
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Underlying client activity driving regulatory capital and trading revenues Regulatory capital1 Group daily trading profit and loss2 FY22 - FY26 Days 100 80 60 40 20 0 $Am <-100 <-90 <-80 <-70 <-60 <-50 <-40 <
Slide 28: Macquarie Capital key drivers
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital Key drivers • Higher investment-related income driven by: – Gains on the equity investment portfolio driven Reflects higher investment-related income, higher fee and by exits in the infrastr
Slide 29: Macquarie Capital
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital Movement in capital Private Credit capital sector exposures2 $Ab 1.4 8.0 7.0 7% 6.6 (1.3) 6.2 10% 26% 6.0 (0.5) Software3 Tech Enabled 5.0 Diversified B2B 11% Real Estate Financial and Insur
Slide 30: Regulatory compliance and technology spend
Introduction Overview of Result Result Analysis and Financial Management 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 i
Slide 31: Balance sheet highlights
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Balance sheet highlights • Balance sheet remains solid and conservative: – Term assets covered by term funding, stable deposits, hybrids, subordinated debt and equity – Short-term wholesale funding covered by
Slide 32: Diversified issuance strategy
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Diversified issuance strategy Term funding as at 31 Mar 26 – diversified by currency, tenor and type Currency1 Tenor2 Type EUR 13% GBP 3% CHF 1% 1-2yrs 13% Equity 28% 4.1 years Weighted Average JPY 1% Securit
Slide 33: Diversified deposit base
Introduction Overview of Result Result Analysis and Financial Management 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 d
Slide 34: Loan portfolio – funded balance sheet
Introduction Overview of Result Result Analysis and Financial Management 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 por
Slide 35: Equity investments of $A13.0b
Introduction Overview of Result Result Analysis and Financial Management 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 c
Slide 36: Regulatory update
Introduction Overview of Result Result Analysis and Financial Management 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, APR
Slide 37: Basel III Bank Group Common Equity Tier 1 (CET1) Ratio
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Basel III Bank Group Common Equity Tier 1 (CET1) Ratio • APRA Basel III Level 2 CET1 ratio at Mar 26: 12.8% • Harmonised Basel III Level 2 CET1 ratio at Mar 26: 17.5%1 Bank Group Level 2 CET1 ratio 20.0% 18.0
Slide 38: Strong liquidity position maintained
Introduction Overview of Result Result Analysis and Financial Management 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
Slide 39: Capital management update
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Capital management update Dividend Reinvestment Plan (DRP) • On 17 Dec 25, the DRP in respect of the 1H26 dividend was satisfied through the allocation of ordinary shares at a price of $A195.34 per share1. Th
Slide 40: Outlook
Outlook Shemara Wikramanayake Managing Director and Chief Executive Officer
Slide 41: Short-term outlook
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Short-term outlook Factors impacting short-term outlook Annuity-style Markets-facing Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) • Base fees expected to be broadly in line, e
Slide 42: Short-term outlook
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Short-term outlook The range of factors that may influence our short-term outlook include: • Market conditions including: global economic conditions, inflation and interest rates, significant volatility event
Slide 43: Medium-term outlook
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices IR Note: Image to be replaced Medium-term outlook Macquarie remains well-positioned to deliver superior performance in the medium term with established, diverse income streams Deep expertise across diverse se
Slide 44: Medium-term outlook
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Medium-term outlook Annuity-style Markets-facing Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ▪ Well-positioned to respond to current market conditions and build on our leadin
Slide 45: Approximate business Basel III Capital and ROE
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Approximate business Basel III Capital and ROE 31 Mar 26 APRA Basel III Capital FY26 Return on Ordinary 20-year Average Return on Operating Group @ 10.5% ($Ab) Equity1 Ordinary Equity2 Macquarie Asset Managem
Slide 46: Presentation to investors and analysts
Presentation to investors and analysts Result announcement for the full year ended 31 March 2023 5 May 2023
Slide 47: Appendix A: Detailed Result Commentary
Appendix A Detailed Result Commentary
Slide 48: Macquarie Asset Management
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management Result FY26 FY25 • Base fees of $A2,551m, down 13% on FY25 $Am $Am – Lower Private Markets base fees primarily driven by asset realisations and the impact of the spin off of the maj
Slide 49: Banking and Financial Services
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services Result FY26 FY25 • Net interest and trading income of $A2,899m, up 7% on FY25 $Am $Am – 19% growth in the average loan portfolio6 and 24% growth in the average BFS deposit portf
Slide 50: Commodities and Global Markets
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets Result FY26 FY25 • Commodities income of $A3,637m, up 20% on FY25 $Am $Am – Risk management income of $A2,282m, up 16% on FY25, primarily driven by increased client hedging acti
Slide 51: Macquarie Capital
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital Result FY26 FY25 • Net interest and trading income of $A923m, up 14% on FY25, primarily due to higher net interest income from the private credit portfolio, benefitting from $A2.5b7 of growt
Slide 52: Corporate
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Corporate Result FY26 FY25 • Net interest and trading income of $A956m was broadly in line with FY25 $Am $Am • Net investment income and other charges of $A609m, substantially up on FY25, primarily driven by:
Slide 53: Appendix B: Additional Information Funding
Appendix B Additional Information Funding
Slide 54: Macquarie funding structure
Introduction Overview of Result Result Analysis and Financial Management 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 t
Slide 55: Funded balance sheet reconciliation
Introduction Overview of Result Result Analysis and Financial Management 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 requ
Slide 56: Funding for Macquarie
Introduction Overview of Result Result Analysis and Financial Management 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 an
Slide 57: Funding for the Bank Group
Introduction Overview of Result Result Analysis and Financial Management 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 dep
Slide 58: Funding for the Non-Bank Group
Introduction Overview of Result Result Analysis and Financial Management 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
Slide 59: Explanation of funded balance sheet reconciling items
Introduction Overview of Result Result Analysis and Financial Management 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
Slide 60: Appendix C: Additional Information Capital
Appendix C Additional Information Capital
Slide 61: Macquarie APRA Basel III regulatory capital
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie APRA Basel III regulatory capital Surplus calculation APRA Basel III 31 Mar 26 $Am Macquarie eligible capital Bank Group Gross Tier 1 capital 27,228 Non-Bank Group eligible capital 15,420 Eligible c
Slide 62: Macquarie APRA Basel III regulatory capital
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie APRA Basel III regulatory capital Bank Group contribution Risk-weighted assets Tier 1 Deductions Capital Requirement1 31 Mar 26 $Am $Am $Am Credit risk On balance sheet 78,179 8,209 Off balance shee
Slide 63: Macquarie regulatory capital
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie regulatory capital Non-Bank Group • APRA has specified a regulatory capital framework for Macquarie • A dollar capital surplus is produced; no capital ratio calculation is specified • The Non-Bank G
Slide 64: Macquarie regulatory capital
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie regulatory capital Non-Bank Group contribution Capital Requirement 31 Mar 26 $Am Credit risk 3,641 Equity risk 7,047 Market risk 166 Operational risk 642 Other1 961 Total Non-Bank Group capital requ
Slide 65: Appendix D: Glossary
Appendix D Glossary
Slide 66: Glossary
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Glossary $A / AUD Australian Dollar CGM Commodities and Global Markets $US / USD United States Dollar CLO Collateralised Loan Obligation £ / GBP Pound Sterling CMA Cash Management Account € / EUR Euro COG Cor
Slide 67: Glossary
Introduction Overview of Result Result Analysis and Financial Management Outlook Appendices Glossary IT Information Technology No. Number LAC Loss-Absorbing Capacity NPAT Net Profit After Tax LCR Liquidity Coverage Ratio NPC Net Profit Contribution LGD Loss Given Default NPS Net Promoter Score LGG L
Slide 68: Presentation to investors and analysts
\ rv 7 | RANI \I| \\\ m We | \ AL Ma L\' ; { y TT \\\ i Serer A Nall | Xt “1 TH “Ww. AH T Ae AL WN a ANE St Presentation to investors and analysts Result announcement for the full year ended 31 March 2026 © macauarie 8 May 2026