Macquarie Group, Ltd. · ASX:MQG
Macquarie — H1 2022 Earnings Presentation
108 slides from Macquarie's earnings presentation, Oct 29, 2021
Slide 1: Presentation to investors and analysts
Presentation to investors and analysts Announcement of result for the half year ended 30 September 2021 and capital raising 29 October 2021 1
Slide 2: Important notice and disclaimer
Important notice and disclaimer IMPORTANT NOTICE AND DISCLAIMER The material in this presentation has been prepared by Macquarie Group Limited (ABN 94 122 169 279) (“Company”, “Macquarie” or “MGL”) and includes general background information about Macquarie’s (MGL and its subsidiaries) activities cu
Slide 3: Important notice and disclaimer
Important notice and disclaimer This presentation may contain forward-looking statements, forecasts, estimates and projections including on the Company’s future financial performance and outlook (“Forward Statements”). Such Forward Statements can be identified by the use of forward-looking words suc
Slide 4: Important notice and disclaimer
Important notice and disclaimer In connection with the Offer, one or more investors may elect to acquire an economic interest in the new Securities (“Economic Interest”), instead of subscribing for or acquiring the legal or beneficial interest in those securities. The Lead Managers may, for their ow
Slide 5: Important notice and disclaimer
Important notice and disclaimer Investors should also be aware that certain financial data and ratios included in this presentation are “non-GAAP financial measures” under Regulation G of the U.S. Securities Exchange Act of 1934. Non-GAAP financial measures in this presentation include assets under
Slide 6: Agenda
Agenda 01 02 03 Introduction Capital Raising Overview of Result 04 05 06 Result Analysis Outlook Appendices and Financial Management 6
Slide 7: Introduction
Introduction Sam Dobson Head of Investor Relations
Slide 8: Capital Raising
Capital Raising Shemara Wikramanayake Managing Director and Chief Executive Officer
Slide 9: Capital Raising
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Capital Raising Macquarie intends to raise $A1.5b via a non-underwritten institutional placement which will be followed by a non-underwritten share purchase plan Capital update ● Macquarie has
Slide 10: Overview of Result
Overview of Result Shemara Wikramanayake Managing Director and Chief Executive Officer
Slide 11: About Macquarie
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices About Macquarie Annuity-style activities | Net Profit Contribution Markets-facing activities | Net Profit Contribution MAM BFS CGM MacCap Macquarie Asset Banking and Commodities and Global Mar
Slide 12: Macquarie's response to COVID-19
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie’s response to COVID-19 Employees Clients Portfolio Companies Community ● Return to office commenced in 99% of office ● Continued engagement and monitoring across ● Ongoing work with
Slide 13: 1H22 result: $A2,043m up 107% on 1H21; up 1% on 2H21
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 1H22 result: $A2,043m up 107% on 1H21; up 1% on 2H21 1H22 2H21 1H21 1H22 v 1H22 v $Am $Am $Am 1H21 2H21 Net operating income 7,804 7,255 5,519 41% 8% Total operating expenses (5,069) (4,601) (
Slide 14: 1H22 net profit contribution from Operating Groups, up 75% on 1H21
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 1H22 net profit contribution from Operating Groups $A3,984m up 75% on 1H21 Annuity-style activities Markets-facing activities $A2,517m 57% $A1,467m 118% ON 1H21 ON 1H21 Non-Banking Group Macqu
Slide 15: 1H22 net profit contribution from Operating Groups, up 4% on 2H21
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 1H22 net profit contribution from Operating Groups $A3,984m up 4% on 2H21 Annuity-style activities Markets-facing activities $A2,517m 47% $A1,467m 31% ON 2H21 ON 2H21 Non-Banking Group Macquar
Slide 16: Financial performance
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Financial performance Operating income Profit 1H22 OPERATING INCOME 1H22 PROFIT $Am $A7,804m $Am $A2,043m 8,000 41 107 % 2,000 6,000 % 1,500 4,000 ON 1H21 ON 1H21 1,000 2,000 8% 500 1% ON 2H21
Slide 17: Assets under management of $A737.0b
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Assets under management of $A737.0b AUM increased 31% from $A563.5b at 31 Mar 21 Increase due to the acquisition of Waddell & Reed, positive impacts from foreign exchange, investment by Privat
Slide 18: Diversification by region
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Diversification by region International income 72% of total income1 Total staff2 17,209, International staff 56% of total Americas EMEA Asia Australia3 39% 26% of total income 7% of total inco
Slide 19: Diversification by region
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Diversification by region 72% of total income1 in 1H22 was generated offshore A 10% movement2 in AUD is estimated to have approximately a 7% impact on NPAT Total income $Am 3,000 2,500 2,000 1
Slide 20: Macquarie Asset Management $A2,456m
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset MAM ● In Jul 21 MAM signed up to The Climate Pledge, joining a global coalition of more than 100 climate leaders who share the ambition of Management ● ● achieving net zero emi
Slide 21: Banking and Financial Services $A1,163m
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Personal Banking ● Home loan portfolio of $A76.4b, up 14% Business Banking ● Business Banking loan portfolio of Wealth Management ● Funds on platform1 of $A116.4b, up 15% Financial
Slide 22: Commodities and Global Markets $A2,769m
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Asset Finance 12%1 ● Continued positive Commodity Markets 56%1 ● Strong client activity across the Financial Markets 32%1 Foreign exchange, interest rates and Equity Derivative
Slide 23: Macquarie Capital $A1,288m
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Advisory and Capital Solutions Summary Infrastructure and Energy Group Summary Capital ● Leading market position in ANZ for ECM2 and IPOs3 and acted as the Joint Lead Manager on the
Slide 24: Funded balance sheet remains strong
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Funded balance sheet remains strong Term liabilities exceed term assets 31 Mar 211 30 Sep 211 $Ab $Ab 240 240 Total customer deposits7 $A91.5b 210 210 ST wholesale issued paper 11% Other debt
Slide 25: Basel III capital position
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Basel III capital position ● APRA Basel III Group capital at Sep 21 of $A29.1b; Group capital surplus of $A8.4b1,2 ● APRA Basel III Level 2 CET1 ratio: 11.7%; Harmonised Basel III Level 2 CET1
Slide 26: Business capital requirements
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Business capital requirements1 Business capital requirements ● Sustained and material growth in capital requirements ● Growth across all Operating Groups ● $A5.5b in additional capital require
Slide 27: Strong regulatory ratios
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Strong regulatory ratios Bank Group Level 2 Ratios (Sep 21) 125.0% 17.5% 7.5% 190.0% 120.0% 1 14.8% 122% 6.0% 179% 1 14.0% 6.0% 160.0% 115.0% 5.3% 110.0% 11.7% 10.5% 4.5% 130.0% 105.0% 7.0% 3.
Slide 28: Operating group update
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Operating group update Green Investment Group ● Effective 1 April 2022, Macquarie’s Green Investment Group (GIG) will operate as part of Macquarie Asset Management (MAM), bringing together Mac
Slide 29: Management Update
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Management Update Macquarie Capital Daniel Wong has decided to step down as Co-Head of Macquarie Capital and from Macquarie’s Executive Committee, effective today, 29 October 2021, to pursue o
Slide 30: Interim dividend
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Interim dividend 1H22 Ordinary Dividend From $A2.72 $A1.35 FROM $A3.35 (40% franked) (40% franked) (40% franked) IN 2H21 IN 1H21 1H22 Record Date Payout Ratio2 9 Nov 21 DRP shares for 1H22 Div
Slide 31: Result Analysis and Financial Management
Result Analysis and Financial Management Alex Harvey Chief Financial Officer
Slide 32: Income statement key drivers
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Income statement key drivers Net interest and trading income of $A3,032m, up 20% on 1H21 1H22 2H21 1H21 ● Higher income in CGM mainly driven by risk management products reflecting strong resul
Slide 33: Macquarie Asset Management
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management Key drivers ● Base fees up due to: − Investments made by Private Markets– Increase driven by income related to the disposition of MIC managed funds and mandates and
Slide 34: MAM AUM movement
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices MAM AUM movement Increase due to acquisition of Waddell & Reed, positive impacts from foreign exchange, investment by Private Markets-managed funds and Public Investments positive net flows an
Slide 35: Banking and Financial Services
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services Key drivers ● Higher Personal Banking income driven by 27% growth in average home Strong home loan, business lending, platforms and deposits loans volumes growth
Slide 36: Banking and Financial Services
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services Strong growth across home loans, deposits and funds on platform $Ab $Ab 140 16 15.2 13.7 120 116.4 14 101.4 12 11.5 100 11.0 10.9 88.2 86.0 10.2 80.7 79.1 10 9.0
Slide 37: Commodities and Global Markets
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets Key drivers ● Commodities − Increased Risk Management revenue across commodities sectors particularly Gas and Power, Resources, and Agriculture due to increased
Slide 38: Strong underlying client business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Strong underlying client business Majority of income derived from Client numbers2 (excl. SAF) underlying client business Client-led business with deep longstanding client relationships Operati
Slide 39: Macquarie Capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital Key drivers ● Higher net income on equity and debt investments primarily driven by: − Higher revenue from asset realisations Result reflects higher income on equity and debt
Slide 40: Macquarie Capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital Movement in capital $Ab 6.0 1.5 (0.4) 5.5 (0.1) 5.1 5.0 4.5 3.9 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 31-Mar-21 Investments Realisations FX 30-Sep-21 Debt Conventional Energy I
Slide 41: Costs of compliance
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Costs of compliance Total compliance spend1 $A335m in 1H22, up 11% on 1H21 Regulatory project spend $Am 1H22 2H21 1H21 ● The industry continues to see an increase in regulatory initiatives, re
Slide 42: Balance sheet highlights
Introduction Capital Raising 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 and equity − Limited reliance on short-term wholesale funding mar
Slide 43: Diversified issuance strategy
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Diversified issuance strategy Term funding as at 30 Sep 21 – diversified by currency1, tenor2 and type Currency Tenor Type EUR 5% Securitisations >1yr 10% 1–2yrs 9% Subordinated debt 5% Syndic
Slide 44: Continued customer deposit growth
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Continued customer deposit growth Macquarie has seen continued success in its long-term strategy of diversifying funding sources by growing its deposit base ● Of more than 1.7 million BFS clie
Slide 45: Loan and lease portfolios – funded balance sheet
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Loan and lease portfolios1 – funded balance sheet Operating Sep 212 Mar 212 Group Category $Ab $Ab Description Home loans3 76.8 66.9 Secured by Australian residential property Business banking
Slide 46: Equity investments of $A8.8b
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Equity investments of $A8.8b1 Includes interests in associates and joint ventures, subsidiaries and certain other assets held for investment purposes and other financial investments Carrying v
Slide 47: Regulatory update
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Regulatory update Australia ● APRA is in the process of implementing changes to a number of prudential standards1 ● Based on current information available, it remains Macquarie’s expectation t
Slide 48: Bank Group Basel III Common Equity Tier 1 (CET1) Ratio
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Bank Group Basel III Common Equity Tier 1 (CET1) Ratio ● APRA Basel III Level 2 CET1 ratio: 11.7%1 ● Harmonised Basel III Level 2 CET1 ratio: 14.8%2 Bank Group Level 2 Common Equity Tier 1 Rat
Slide 49: Strong liquidity position maintained
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Strong liquidity position maintained ● 179%1 average LCR for Sep 21 quarter, based on daily observations − Maintained well above regulatory minimum − Includes CLF allocation2 ● Reflects longst
Slide 50: Capital management update
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Capital management update Capital Raising ● On 29 Oct 21, Macquarie announced a capital raising via a non-underwritten $A1.5b institutional placement which will be followed by a non-underwritt
Slide 51: Details of the capital raising
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Details of the capital raising Macquarie is seeking to raise $A1.5b in the form of a non-underwritten institutional placement, which will be followed by a non-underwritten share purchase plan
Slide 52: Capital raising timetable
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Capital raising timetable Event* Date (Sydney time) Record date for participation in the SPP 7.00pm, Thursday, 28 October 2021 Trading halt, announcement of results and Placement Friday, 29 Oc
Slide 53: Outlook
Outlook Shemara Wikramanayake Managing Director and Chief Executive Officer
Slide 54: Short-term outlook
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Short-term outlook Factors impacting short-term outlook Annuity-style businesses Markets-facing businesses Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Exclu
Slide 55: Short-term outlook
Introduction Capital Raising 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: ● The duration of COVID-19, speed of the global economic recovery and extent of government support fo
Slide 56: Medium-term outlook
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Medium-term outlook Macquarie remains well-positioned to deliver superior performance in the medium term Deep expertise in major markets Build on our strength in business and geographic divers
Slide 57: Medium term
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Medium term Annuity-style businesses Markets-facing businesses Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Global specialist asset manager, well-positioned
Slide 58: Approximate business Basel III Capital and ROE
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Approximate business Basel III Capital and ROE 30 Sep 21 APRA Basel III Capital1 Approx. 1H22 Return on Approx. 15-year Average Operating Group @ 8.5% ($Ab) Ordinary Equity2 Return on Ordinary
Slide 59: Presentation to investors and analysts
Presentation to investors and analysts Announcement of result for the half year ended 30 September 2021 and capital raising 29 October 2021 59
Slide 60: Appendix A: Detailed Result Commentary
Appendix A Detailed Result Commentary
Slide 61: Macquarie Asset Management
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Asset Management Result ● Base fees of $A1,362m, up on 1H21 primarily driven by 1H22 2H21 1H21 − Acquisition of Waddell & Reed in current period $Am $Am $Am − Investments made by Pri
Slide 62: Banking and Financial Services
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Banking and Financial Services Result ● Net interest and trading income of $A974m, up 15% on 1H21 1H22 2H21 1H21 $Am $Am $Am − 22% growth in the average loan and lease portfolio and 19% growth
Slide 63: Commodities and Global Markets
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Commodities and Global Markets Result ● Commodities income of $A1,254m, up 13% on 1H21: 1H22 2H21 1H21 − Risk management products up 64% on 1H21 reflecting strong results across all sectors pa
Slide 64: Macquarie Capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Capital Result ● Net interest and trading income of $A115m, increased significantly on 1H21 resulting 1H22 2H21 1H21 from growth in the Principal Finance debt portfolio, and lower fu
Slide 65: Appendix B: Additional information - Funding
Appendix B Additional information Funding
Slide 66: Macquarie funding structure
Introduction Capital Raising 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 pr
Slide 67: Funded balance sheet reconciliation
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Funded balance sheet reconciliation ● The funded balance sheet is a simple representation of Macquarie’s funding requirements once accounting related gross-ups and self-funded assets have been
Slide 68: Changes in funded balance sheet presentation
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Changes in funded balance sheet presentation Given the substantial growth in Macquarie's home loan portfolio in recent years, the funded balance sheet has Sep 21 $Ab (before change) $Ab (after
Slide 69: Funding for Macquarie
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Funding for Macquarie Sep 211 Mar 211 Sep 201 ● Well diversified funding sources $Ab $Ab $Ab ● Limited reliance on short-term wholesale funding markets Funding sources Certificates of deposit
Slide 70: Funding for the Bank Group
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Funding for the Bank Group Sep 211 Mar 211 Sep 201 ● Bank balance sheet remains liquid and well capitalised, with a $Ab $Ab $Ab diverse range of funding sources Funding sources Certificates of
Slide 71: Funding for the Non-Bank Group
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Funding for the Non-Bank Group Sep 21 Mar 21 Sep 20 ● Non-Bank Group is predominantly term funded $Ab $Ab $Ab ● Term funding beyond one year (excluding equity) has a Funding sources Net trade
Slide 72: Explanation of funded balance sheet reconciling items
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Explanation of funded balance sheet reconciling items Derivative revaluation Outstanding trade accounting gross-ups Segregated funds settlement balances Working capital assets Macquarie’s deri
Slide 73: Conservative long standing liquidity risk management framework
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Conservative long standing liquidity risk management framework Liquidity Policy Liquidity Framework The liquidity risk appetite is intended to ensure that Macquarie is able to A robust liquidi
Slide 74: Appendix C: Additional information - Capital
Appendix C Additional information Capital
Slide 75: Macquarie Basel III regulatory capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie Basel III regulatory capital Surplus calculation Harmonised APRA 30 Sep 21 Basel III1 $Am Basel III1 $Am Macquarie eligible capital Bank Group Gross Tier 1 capital 18,401 18,401 Non-
Slide 76: Macquarie APRA Basel III regulatory capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie APRA Basel III regulatory capital Bank Group contribution1 Risk-weighted assets Tier 1 Deductions Capital Requirement2 30 Sep 21 $Am $Am $Am Credit risk On balance sheet 53,716 4,566
Slide 77: Macquarie regulatory capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie regulatory capital Non-Bank Group contribution ● APRA has specified a regulatory capital framework for Macquarie ● A dollar capital surplus is produced; no capital ratio calculation
Slide 78: Macquarie regulatory capital
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Macquarie regulatory capital Non-Bank Group contribution Assets Capital Requirement Equivalent Risk 30 Sep 21 $Ab $Am Weight Funded assets Cash and liquid assets 11.3 143 16% Loan assets1 10.0
Slide 79: Appendix D: Key risks of the offer
Appendix D Key risks of the offer
Slide 80: Risks associated with participating in the Offer
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Risks Investors should be aware that there are risks associated with an investment in Macquarie. Some of the principal factors which may, either individually or in combination, affect the futu
Slide 81: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) The factors described below represent the key risks relating to an investment in Ma
Slide 82: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Foreign exchange risk Changes and increased volatility in
Slide 83: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Funding constraints of Historically, the Macquarie Group h
Slide 84: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Global economic, market The COVID-19 pandemic has caused,
Slide 85: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Legal and regulatory risks Change in laws, regulation Many
Slide 86: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Financial crime risk The Macquarie Group is also subject i
Slide 87: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Litigation and regulatory MGL and the Macquarie Group may,
Slide 88: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Operational risks Staff recruitment and The Macquarie Grou
Slide 89: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Operational and process The Macquarie Group may incur fina
Slide 90: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Cyber and information A cyber attack, information or secur
Slide 91: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Environmental and social The Macquarie Group’s businesses
Slide 92: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Strategic risks The Macquarie Group’s business may be adve
Slide 93: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Reputation risk The Macquarie Group believes that its repu
Slide 94: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Conflicts of interest Conflicts of interest could limit th
Slide 95: Risks associated with Macquarie's business
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 2. Risks associated with Macquarie’s business that may affect ordinary shares of Macquarie (Ordinary Shares) Risk Description of risk Accounting Standards Changes in accounting standard, polic
Slide 96: Risks associated with Ordinary Shares specifically
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices 3. Risks associated with Ordinary Shares specifically T Risk Description of risk The market price of Ordinary Shares trade on ASX. The market price of Ordinary Shares on ASX will fluctuate due
Slide 97: Summary of the placement agreement
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Summary of the placement agreement The Company entered into a placement agreement with the Lead Managers in respect of the Placement on 29 October 2021 (“Placement Agreement”). The Placement A
Slide 98: Appendix E: International offer jurisdictions
Appendix E International offer jurisdictions
Slide 99: International offer restrictions: Canada
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices This document does not constitute an offer of New Shares of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, an
Slide 100: International offer restrictions
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Cayman Islands No offer or invitation to subscribe for New Shares may be made to the public in the Cayman Islands or from within the Cayman Islands. China This document has not been approved b
Slide 101: International offer restrictions
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Israel The New Shares have not been registered, and no prospectus will be issued, under the Israeli Securities Law, 1968 (the "Securities Law"). Accordingly, the New Shares will only be offere
Slide 102: International offer restrictions
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Shares a
Slide 103: International offer restrictions
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices South Africa This document does not, nor is it intended to, constitute a prospectus prepared and registered under the South African Companies Act 2008 and may not be distributed to the public
Slide 104: International offer restrictions
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices United Arab Emirates This document does not constitute a public offer of securities in the United Arab Emirates and the New Shares may not be offered or sold, directly or indirectly, to the pu
Slide 105: Appendix F: Glossary
© macauarie OG Appendix F Glossary
Slide 106: Glossary
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Glossary $A / AUD Australian Dollar CLF Committed Liquid Facility $US / USD United States Dollar CMA Cash Management Account £ / GBP Pound Sterling CRM Customer Relationship Management € Euro
Slide 107: Glossary
Introduction Capital Raising Overview of Result Result Analysis and Financial Management Outlook Appendices Glossary IPO Initial Public Offering MIRA Macquarie Infrastructure and Real Assets IRB Internal Ratings-Based MW Mega Watt IFRS International Financial Reporting Standards MWDC Mega Watt direc
Slide 108: Presentation to investors and analysts
Presentation to investors and analysts Announcement of result for the half year ended 30 September 2021 and capital raising 29 October 2021 108