Macquarie Group, Ltd. · ASX:MQG
Macquarie — Q3 2026 Earnings Presentation
74 slides from Macquarie's earnings presentation, Feb 10, 2026
Slide 1: 2026 Operational Briefing
2026 Operational Briefing Macquarie Group Limited 10 February 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: Agenda
Agenda Agenda 01 02 Introduction 3Q26 Trading Update 03 Macquarie in 04 Investing in Australia and Macquarie’s New Zealand platform © Macquarie Group Limited 3
Slide 4: Introduction
01 Introduction Sam Dobson Head of Investor Relations © Macquarie Group Limited 4
Slide 5: 3Q26 Trading Update
02 3Q26 Trading Update Shemara Wikramanayake Managing Director and Chief Executive Officer © Macquarie Group Limited 5
Slide 6: About Macquarie
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary About Macquarie ~56% ~28% ~16% Annuity-style | Income Markets-facing | Income BFS MAM CGM MacCap Banking and Financial Services Macquarie Asset Management Commodities and Global Markets Macquarie Capital ● Macquarie
Slide 7: 3Q26 Overview
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 3Q26 Overview Satisfactory trading conditions in the December 2025 quarter (3Q26) ● MAM net profit contribution1 substantially up on prior corresponding period (pcp) (3Q25), primarily driven by the gain on sale from
Slide 8: 3Q26 Overview
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 3Q26 Overview Macquarie Asset Management Banking and Financial Services ● AUM1 of $A736.1b at Dec 25, up 3% on Sep 25 of $A716.9b2 ● BFS deposits6 of $A204.5b at Dec 25, up 6% on Sep 25 ● Private Markets: ● Home loa
Slide 9: 3Q26 Overview
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 3Q26 Overview Commodities and Global Markets Macquarie Capital ● Improved performance in Commodities compared to a subdued pcp, primarily due to increased ● Fee and commission income up on FY25 YTD but down on pcp,
Slide 10: Capital, funding and liquidity update
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 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)3 12.4% 4.6% 178% 111% 17.1% Harmonised1 5.2% Harm
Slide 11: Business capital requirements
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Business capital requirements 3Q26 drivers 3Q26 business capital requirements1 increase of $A0.5b MAM excluding FX movements ● Reduction due to divestments, predominantly driven by completion $Ab 36.0 of the sale of
Slide 12: Regulatory update
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 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 relea
Slide 13: Short-term outlook
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Short-term outlook Factors impacting short-term outlook Annuity-style Markets-facing Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Excluding the divestment of the public investments
Slide 14: Short-term outlook
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 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
Slide 15: Medium-term outlook
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 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 structura
Slide 16: Medium-term outlook
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary 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 leading globa
Slide 17: Macquarie in Australia and New Zealand
03 Macquarie in Australia and New Zealand Shemara Wikramanayake Managing Director and Chief Executive Officer © Macquarie Group Limited 17
Slide 18: Macquarie in Australia and New Zealand
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Macquarie in Australia and Longstanding and market-leading presence New Zealand 36% 44% ~4.6m hectares of of income1 of AUM Starting in Sydney in 1969 with 3 staff providing advisory farmland and investment banking
Slide 19: Over 56-year history of innovation, growth, scale, diversification and global reach from ANZ
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Over 56-year history of innovation, growth, scale, diversification and global reach from ANZ Market opportunity in ANZ Disciplined identification of investable opportunities across market cycles Innovation Growth Sc
Slide 20: Banking and Financial Services
03 Banking and Financial Services Ben Perham Head of Personal Banking © Macquarie Group Limited 20
Slide 21: BFS in Australia
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary BFS in Australia Inception 1980 4,148 staff including 1,444 Technology-driven Australian retail bank and technology staff wealth manager Offerings ~2.2m Customers Personal Banking Business Banking Wealth Management
Slide 22: Over 40 years of delivering value to Australians
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Over 40 years of delivering value to Australians Pioneering Australian banking for over 40 years, delivering market- defining innovation to Australian customers and sustained profit growth Unlocking Driving wholesal
Slide 23: Loved across Australia
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Loved across Australia Our digital strategy delivers accessible products to a broad and diverse customer base, Australia-wide The geographic distribution of our customers broadly aligns to the population, with stron
Slide 24: Technology as a competitive advantage
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Technology as a competitive advantage We are a leading technology bank, leveraging our culture, modern platforms, data and AI to build a durable competitive advantage Our competitive advantages in …are driven by our
Slide 25: Digital customer experience
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Digital customer experience Our growth has been driven by excellent end-to-end digital experiences for our customers Instantly become a customer by opening transaction and savings accounts via online and mobile bank
Slide 26: Deposits
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Deposits A significant market opportunity for our simple and transparent offering to continue winning share Our customer-obsessed game changer brand positioning emphasises We’re doubling down on no our challenger st
Slide 27: Deposits
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Deposits Deposits enable our liability-led strategy, providing efficient funding for our lending businesses Our savings product has grown to become our largest source of We’ve doubled market share from ~3.1% since F
Slide 28: Home Loans
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Home Loans Strong market share growth underpinned by our focus on customer and broker experiences We’ve grown market share to 6.8%, primarily through the broker channel Home loan portfolio1 & market share2 172 22% 1
Slide 29: Home Loans
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Home Loans We maintain a disciplined credit appetite, with growth driven by low-LVR, high credit quality lending We have a more conservative LVR profile than the market, evidenced in our LVR composition of settlemen
Slide 30: Scalability
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Scalability Our business model is delivering customer value and sustainable shareholder returns Investment in scalable platforms and processes has enabled us to reduce headcount… BFS Personal Banking allocated headc
Slide 31: Macquarie Asset Management in ANZ
03 Macquarie Asset Management in ANZ Ani Satchcroft Co-Head of Infrastructure, Asia Pacific Brett Lewthwaite Deputy Head of Credit & Insurance Benjamin Leung Head of Systematic Investments © Macquarie Group Limited 31
Slide 32: MAM in ANZ
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary MAM in ANZ ~45 years presence in ANZ Strong client franchise A leading asset manager delivering $A326b ~130 ~9,000 innovative investment solutions for clients assets under management1 institutional clients3 wealth a
Slide 33: Real Assets
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Real Assets ANZ's leading Real Assets manager, driving performance and positive impact Unlocking opportunity Case study ~$A40b Identifying sectors early Jul 21 assets under management across 27 portfolio Early mover
Slide 34: Fixed Income
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Fixed Income ANZ’s largest Fixed Income manager, delivering consistent outperformance for clients Investment excellence Client partnership Growth ~$A195b Institutional ● 250 $Ab Fixed Income AUM assets under managem
Slide 35: Systematic Investments
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Systematic Investments ANZ’s fastest growing active quant manager1, delivering alpha generation at scale Investment excellence Approach Growth ~$A90b People ● 100 $Ab Systematic Investments AUM assets under manageme
Slide 36: Commodities and Global Markets in ANZ
03 Commodities and Global Markets in ANZ Craig Ross ANZ Regional Head and Head of FIC Byron Den Hertog Co-Head of EMEA-APAC Gas, Power and Emissions © Macquarie Group Limited 36
Slide 37: CGM in ANZ
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary CGM in ANZ Regional presence since 1978 25% of CGM operating income1 A global business, starting in Australia, offering financing, risk management, market access and physical execution and logistics solutions to its
Slide 38: CGM FIC: Growing a client-centric franchise
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary CGM FIC: Growing a client-centric franchise Through collaboration, cross selling and a client-centric focus, the ANZ team are leading the delivery of better trading and financing solutions across global markets From
Slide 39: Adapting to the changing nature of power supply and demand
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Adapting to the changing nature of power supply and demand Integrating flexible battery storage into CGM’s Australian power portfolio has complemented our existing capabilities and offerings Leveraging embedded expe
Slide 40: Macquarie Capital in ANZ
03 Macquarie Capital in ANZ Tim Joyce Head of Macquarie Capital, Asia Pacific © Macquarie Group Limited 40
Slide 41: Macquarie Capital in ANZ
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Macquarie Capital in ANZ Active with 487 Connecting ideas to capital through an integrated platform of 50% of the ASX 1007 staff across 5 offices9 advisory, capital markets, principal and equities 60 22+ years deals
Slide 42: Our differentiated approach
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Our differentiated approach Powered by client focus, innovation, and global collaboration Supporting market leaders… …and emerging businesses Select FY26 case studies VOC Group Deep sector expertise No. 1 ANZ M&A Ad
Slide 43: Macquarie in Australia and New Zealand
03 Macquarie in Australia and New Zealand Shemara Wikramanayake Managing Director and Chief Executive Officer © Macquarie Group Limited 43
Slide 44: Focused on continued growth
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Focused on continued growth Significant market share Partner to Australian and New across diverse and interconnected Zealand clients in their global franchises growth Driving efficiency and Provide access to attract
Slide 45: Investing in Macquarie's platform
04 Investing in Macquarie’s platform Shemara Wikramanayake Managing Director and Chief Executive Officer © Macquarie Group Limited 45
Slide 46: Risk management at Macquarie
04 Risk management at Macquarie Andrew Cassidy Chief Risk Officer and Head of Risk Management Group Byron Den Hertog CGM, Co-Head of EMEA-APAC Gas, Power and Emissions © Macquarie Group Limited 46
Slide 47: Risk Management at Macquarie
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Risk Management Macquarie’s longstanding approach to Risk Management under the ‘three lines of defence’ model, sets risk ownership responsibilities at Macquarie functionally independent from oversight and assurance
Slide 48: Risk management at Macquarie brought to life
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Risk management at Macquarie brought to life We continue to build on our approach through learnings and anticipation of market changes Oversight of risk is based on… …and is operationalised through Setting and monit
Slide 49: Embedding a strong risk culture
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Embedding a strong risk culture We focus on embedding an effective risk culture through an iterative cycle Risk culture is foundational to risk management, supporting our ability to operate within risk appetite. Mai
Slide 50: RMG divisions and people
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary RMG divisions and people Specialised divisions work together to achieve an integrated approach to Risk Management Our structure Our global team France China Malaysia Chief Risk Officer Germany Hong Kong Philippines
Slide 51: Macquarie's material risks
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Macquarie’s material risks Macquarie maintains a sound risk profile as it navigates a changing external risk landscape All staff have a role Ownership of risk Understanding Independent sign-off in managing risk at t
Slide 52: Partnership with the Operating Groups
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Partnership with the Operating Groups Sound risk outcomes are built on close collaboration between Line 1 and Line 2 The risk life cycle: New Product and Pre-trade Execution Post-trade CGM case study Business Approv
Slide 53: Learnings from regulatory matters
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Learnings from regulatory matters There continue to be a number of emerging themes and lessons learned that provide opportunities to shape our future focus Deepening understanding of underlying root causes and more
Slide 54: Looking ahead
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Looking ahead We continue to focus on supporting growth and performance while leveraging technology, data and AI to improve risk management outcomes Enabling effective risk Continuing to uplift our risk Supporting r
Slide 55: Technology, data and AI at Macquarie
04 Technology, data and AI at Macquarie Nicole Sorbara Chief Operating Officer and Head of Corporate Operations Group David Tough Chief Technology Officer Pier Luigi Culazzo Chief Data and AI Officer Ashwin Sinha BFS, Chief Digital, Data and AI Officer Gaurav Singh CGM, Head of Transformation © Macq
Slide 56: Corporate Operations Group footprint
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Corporate Operations Group footprint Specialist divisions that are increasing quality, velocity, and scalability to deliver measurable business success Our structure Diverse team A global team of more than 4,500 sta
Slide 57: COG has continued to evolve and scale since 2021
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary COG has continued to evolve and scale since 2021 Over the past five years we have focused on maturing and We are leveraging our significant investment in delivering new platforms and services technology, data, and A
Slide 58: Scaling the impact of our technology investments
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Scaling the impact of our technology investments Technology investment has stabilised, with businesses increasingly leveraging benefits of scale for growth and revenue opportunities Investment in Technology1 Busines
Slide 59: Safeguarding our operations, people, and customers
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Safeguarding our operations, people, and customers Robust cybersecurity controls enable our businesses to innovate with confidence Highlights Protecting Macquarie’s information and securing 100% Zero of staff device
Slide 60: Positioning for future growth with accelerated cloud adoption
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Positioning for future growth with accelerated cloud adoption Our cloud-based core systems and infrastructure create the agility and scalability necessary to adopt market-leading capabilities 5x Highlights Deliverin
Slide 61: Data and AI as strategic enablers of differentiation and growth
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Data and AI as strategic enablers of differentiation and growth Our robust data governance and data platforms are foundational in unlocking advanced analytics and AI capabilities Mature data foundations enable accur
Slide 62: Investing in our AI platform ecosystem
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Investing in our AI platform ecosystem We are partnering with our businesses to increase competitiveness and create disruption in an accelerating market ● AI adoption is transitioning from experimentation only, towa
Slide 63: Technology foundations
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Technology foundations We are a leading technology bank, leveraging our culture, modern platforms, and data and AI to build a durable competitive advantage Case Study – Partnering with Operating Groups: Banking & Fi
Slide 64: Reliability as our No. 1 feature
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Reliability as our No. 1 feature Reliability is the foundation of a trusted customer experience Case Study – Partnering with Operating Groups: Banking & Financial Services (BFS) To deliver superior reliability outco
Slide 65: AI Agent "Q"
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary AI Agent “Q” Our AI assistant, delivering personalised insights and proactive support through an intelligent, conversational experience Case Study – Partnering with Operating Groups: Banking & Financial Services (BF
Slide 66: Client protection
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Client protection We are using the latest, cutting-edge technology and AI to keep our customers safe and accelerate our path to scale Case Study – Partnering with Operating Groups: Banking & Financial Services (BFS)
Slide 67: Unlocking opportunity through strategic investment
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Unlocking opportunity through strategic investment CGM has maintained a strategic and continuous investment in technology and data to establish strong foundations, modernise infrastructure and enhance controls This
Slide 68: Positioning CGM for the future
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Positioning CGM for the future Strategic investment and prioritisation of data and AI to What’s next accelerate CGM’s growth and agility Case Study – Partnering with Operating Groups: Commodities & Global Markets (C
Slide 69: Investing in Macquarie's platform
04 Investing in Macquarie’s platform Shemara Wikramanayake Managing Director and Chief Executive Officer © Macquarie Group Limited 69
Slide 70: Investing in our platform
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Investing in our platform Strengthening our foundations Continuous enhancement of the Risk Management Investing in technology and data to enable approach and embedding of risk culture scalable growth Maintaining our
Slide 71: 2026 Operational Briefing
2026 Operational Briefing Macquarie Group Limited 10 February 2026
Slide 72: Glossary
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Glossary $A / AUD Australian Dollar CCB Capital Conservation Buffer $US / USD United States Dollar CCyB Countercyclical Capital Buffer € / EUR Euro CET1 Common Equity Tier 1 1H Half Year ended 30 September CGM Commo
Slide 73: Glossary
Introduction 3Q26 Trading Update Macquarie in ANZ Investing in the Platform Glossary Glossary GenAI Generative Artificial Intelligence MPIF Macquarie Private Infrastructure Fund GW Gigawatt MSAL Macquarie Securities (Australia) Limited HNW High Net Worth MW Megawatt IAD Internal Audit Division No. N
Slide 74: 2026 Operational Briefing
2026 Operational Briefing Macquarie Group Limited 10 February 2026