Macquarie Group, Ltd. · ASX:MQG
Macquarie — Investor Presentation (September 2021)
83 slides from Macquarie's investor presentation, Sep 8, 2021
Slide 1: Investor Presentation and First Half 2022 Update (ASX release)
Macquarie Group Limited ABN 94 122 169 279 50 Martin Place Telephone (61 2) 8232 3333 Sydney NSW 2000 Facsimile (61 2) 8232 3019 GPO Box 4294 Internet http://www.macquarie.com Sydney NSW 1164 AUSTRALIA ASX/Media Release INVESTOR PRESENTATION AND FIRST HALF 2022 UPDATE SYDNEY, 8 September 2021 – As p
Slide 2: Jefferies Asia Forum
Jefferies Asia Forum Presentation to Investors and Analysts 8-10 September 2021 1
Slide 3: 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 and
Slide 4: Agenda
Agenda 01 Macquarie’s 02 Overview of 03 Operating Groups response to Macquarie COVID-19 04 1Q22 Update 05 Outlook 06 Appendix 3
Slide 5: Macquarie's response to COVID-19
01 Macquarie’s response to COVID-19
Slide 6: Macquarie's response to COVID-19
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie’s response to COVID-19 Employees Clients Portfolio Companies Community ● Gradual return to office commenced in 90% of ● Enhanced client support and lending relief ● Ongoing work with Privat
Slide 7: Overview of Macquarie
© macauarie Overview of Macquarie
Slide 8: Macquarie at a glance
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie at a glance Empowering people to innovate and invest for a better future Global financial group Diverse business mix ● Headquartered and listed in Australia Located in 32 markets, we conduc
Slide 9: Why Macquarie?
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Why Macquarie? Unbroken profitability Earnings growth Consistent dividend growth Strong return on equity FY21 net profit: FY21: $A3,015m 6% 3% 14.3% up 10% on FY20 5yr EPS CAGR 5yr DPS CAGR down from
Slide 10: Macquarie's evolution is driven by our people
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie’s evolution is driven by our people Our people are closest to client needs and markets We seek to identify From positions of deep We are accountable We act with integrity and We pursue oppo
Slide 11: Diversification by region
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Diversification by region Business mix1 International income2 AUM Annuity-style activities FY21 FY07 FY21 FY07 ~54% 25% 68% 53% MAM ~34% Americas 34% Americas $A279.1b BFS ~13% EMEA 23% EMEA $A115.1b
Slide 12: Over 50 years of unbroken profitability
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix FY21 Waddell & Reed Over 50 years of unbroken profitability Staff: 16,4594 FY19 GLL ValueInvest Conergy FY18 GIG $Ab Performance Total shareholder Earnings per Dividends per ASX Diversified MSCI Worl
Slide 13: Strong earnings growth
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Strong earnings growth FY21 EPS of $A8.43 FY21 Operating income of $A12,774m Up 7% on pcp Up 4% on pcp $A $A 10.00 14,000 9.00 12,000 8.00 7.00 10,000 6.00 8,000 5.00 4.00 6,000 3.00 4,000 2.00 2,000
Slide 14: Stable earnings
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Stable earnings 5 year earnings volatility relative to Macquarie 15 year earnings volatility relative to Macquarie (includes GFC) Multiple to Macquarie Multiple to Macquarie 8.0 8.0 6.9x 7.0 7.0 6.0
Slide 15: Strong shareholder returns
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Strong shareholder returns For purchases made and held to sale Macquarie has generally outperformed the ASX 200, Diversified Financials and MSCI World Capital Markets Index Outperformance / (underper
Slide 16: Rating movement (notches)
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Bank Limited Long Term Ratings Stability Standard & Poor’s Ratings Movements from 2007 AA+ Rating movement (notches) AA 5 6 5 AA- 3 1 6 5 A+ 1 1 A 7 A- BBB+ BBB Macquarie JPMorgan Chase Cre
Slide 17: Macquarie's approach to risk management
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie’s approach to risk management Strong focus on business accountability and risk ownership Stable and robust core risk management principles Our approach is consistent with the ‘three lines o
Slide 18: Environmental, Social and Governance (ESG)
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Environmental, Social and Governance (ESG) Macquarie’s ESG commitment reflects our responsibility to clients, shareholders, communities, our people and the environment in which we operate Environment
Slide 19: Environmental, Social and Governance
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Environmental, Social and Governance Environmental Climate Environmental and Sustainability Client People Business conduct Macquarie and social risk change social financing in direct operations exper
Slide 20: Our commitment to net zero
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Our commitment to net zero As global commitments to tackling climate change accelerate, and in keeping with our culture of innovation and evolution, we are strengthening our own commitment on climate
Slide 21: Approximate business Basel III Capital and ROE
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Approximate business Basel III Capital and ROE 31 Mar 21 APRA Basel III Capital1 Approx. FY21 Return on Ordinary Approx. 15-year Average Return Operating Group @ 8.5% ($Ab) Equity2 on Ordinary Equity
Slide 22: Operating Groups
© macauarie 03 Operating Groups
Slide 23: About Macquarie
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix About Macquarie MAM BFS CGM MacCap Macquarie Asset Banking and Commodities and Global Markets Macquarie Capital Management Financial Services Diverse platform covering more than 30 market segments, w
Slide 24: Macquarie Asset Management
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Asset FY21 Private Public awards & Markets8 Management rankings Investments9 Actively manages funds for investors across multiple asset classes $A147.9b2 on4% Mar 21 $A495.2b2 on35% Mar 21
Slide 25: Macquarie Asset Management
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Asset Management Actively manages funds for investors across multiple asset classes Net Profit Contribution1 ($Am) Base Fees ($Am) AUM ($Ab) 2,177 2,100 2,021 1,985 750 2,074 2,100 1,778 69
Slide 26: Composition of income
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Composition of income Asset Management Net Income (AMNI) Performance-related Income (PRI) Net Other Income (NOI) Net Net Base fees on Operating Performance Net operating EUM / AUM - expenses + fees +
Slide 27: Private Markets Historical Income
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Private Markets Historical Income Private Markets base fees (LHS) Closing Private Markets EUM $Ab % of EUM $Am 149 Private Markets performance fees and other income (LHS) 142 1,800 2.00% 128 1,600 1.
Slide 28: Adding value throughout the investment lifecycle
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Adding value throughout the investment lifecycle ● Long-term investment approach, Our alternatives portfolio1 delivering positive outcomes for clients, portfolio companies and communities 5% 2% Acqui
Slide 29: Banking and Financial Services
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Banking and FY21 awards Financial Services Macquarie’s retail banking and $A71.2b5 6% on Mar 21 $A82.4b5 2% on Mar 21 financial services business Home loan portfolio Total BFS deposits2 $A10.8b5 6% o
Slide 30: Banking and Financial Services
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Banking and Financial Services A technology-driven Australian retail bank and wealth manager Australian loan and Net Profit Contribution1 ($Am) BFS Deposits2 ($Ab) lease portfolio3 ($Ab) 770 771 90.0
Slide 31: Bringing best in class technology to banking
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Bringing best in class technology to banking Our multi cloud platform and system architecture allows us to move at speed Market first technology Digital banking platform on the cloud Leading Digital
Slide 32: Focused on delivering exceptional client experiences
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Focused on delivering exceptional client experiences Client feedback shapes what we prioritise as a business We map the client experience of banking with Macquarie to shape the products We assess cli
Slide 33: Commodities and Global Markets
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Commodities and FY21 awards & Strong underlying client business Global Markets rankings Commodity Financial Markets Provides clients with access to markets, Markets Foreign exchange, interest rates a
Slide 34: Commodities and Global Markets
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Commodities and Global Markets Provides clients with access to markets, financing, financial hedging, research and market analysis and physical execution Net Profit Contribution1 ($Am) Net Operating
Slide 35: Strong underlying client business
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Strong underlying client business Majority of income derived from underlying client business Operating Income Client numbers2 (excl. credit and other impairment charges) (Excl. SAF) +6% +11% Underlyi
Slide 36: Underlying client activity driving regulatory capital and trading revenues
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Underlying client activity driving regulatory capital and trading revenues Regulatory capital (normalised)1 Group Daily trading profit and loss2 FY18-FY21 ($Am) Days +5% 90 80 70 60 50 40 30 20 10 0
Slide 37: Macquarie Capital
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Capital FY21 awards & Advisory and Infrastructure and Capital Solutions Energy Group Advises and invests alongside clients and rankings Leading market position in ANZ for Continued focus on
Slide 38: Macquarie Capital
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Capital Advises and invests alongside clients and partners to realise opportunity; develops and invests in infrastructure and energy projects Net Profit Contribution1 ($Am) Income by region
Slide 39: We're building the future one project at a time
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix We’re building the future one project at a time The asset creation journey typically starts at development stage, through construction, and into operations Case study: Murra Warra wind farm Financial
Slide 40: Green Investment Group
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Green Investment Group One of the leading renewable energy developers and investors in the world – with a team of 450+ green energy experts1 committed to accelerating the green transition Developing
Slide 41: We unlock opportunities by combining ideas and capital
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix We unlock opportunities by combining ideas and capital We evolve with our clients and areas of opportunity Advisory Capital Markets Focused on Extensive differentiated institutional Private capital T
Slide 42: 1Q22 Update
© macauarie 04 1Q22 Update
Slide 43: 1Q22 Overview
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix 1Q22 Overview Improved trading conditions with 1Q22 operating group contribution significantly up on the prior corresponding period (pcp) (1Q21) which had mixed trading conditions ● Macquarie’s annui
Slide 44: 1Q22 Annuity style businesses
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix 1Q22 Annuity style businesses Macquarie Asset Management Banking and Financial Services ~34% FY21 contribution1 ~13% FY21 contribution1 • AUM2 of $A693.2 at Jun 21, up 23% on Mar 21, predominantly dr
Slide 45: 1Q22 Markets-facing businesses
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix 1Q22 Markets-facing businesses Commodities and Global Markets Macquarie Capital ~42% FY21 contribution1 ~11% FY21 contribution1 • Favourable market conditions contributed to strong results across the
Slide 46: Funded balance sheet remains strong
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Funded balance sheet remains strong Term liabilities exceed term assets 31 Mar 21 30 Jun 21 $Ab $Ab 210 210 ST wholesale issued paper 10% Total customer deposits7 $A85.7b 180 180 Other debt maturing
Slide 47: Basel III capital position
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Basel III capital position ● APRA Basel III Group capital at Jun 21 of $A26.4b; Group capital surplus of $A7.4b1, 2 ● APRA Basel III Level 2 CET1 ratio: 12.1%; Harmonised Basel III Level 2 CET1 ratio
Slide 48: Business capital requirements
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Business capital requirements1 $Ab $A3.8b increase 1Q22 key drivers 20 overall MAM 0.2 0.2 $A19.0b ● Includes fund underwriting activity 19 0.6 offset by divestments (including Broadly 0.3 0.5 offset
Slide 49: Capital management update
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Capital management update Dividend Payout Policy ● Macquarie has seen strong capital deployment over an extended period, with $A3.8b growth in capital requirements across all four operating groups si
Slide 50: Strong regulatory ratios
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Strong regulatory ratios Bank Group Level 2 Ratios (Jun 21) 17.5% 190% 125% 7.5% 15.5% 120% 122% 171% 14.0% 5.9% 160% 6.0% 115% 12.1% 5.2% 110% 10.5% 4.5% 130% 105% 7.0% 3.0% 100% 100% 95% 3.5% 1.5%
Slide 51: Regulatory update
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Regulatory update Australia ● APRA is in the process of implementing changes to a number of regulatory standards1 ● APRA released a letter on 21 Jul 21 outlining proposed policy settings for the Bank
Slide 52: Outlook
© macauarie O05 Outlook
Slide 53: Short-term outlook
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Short-term outlook Factors impacting short-term outlook Annuity-style businesses Markets-facing businesses Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Excluding Wa
Slide 54: Short-term outlook
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Short-term outlook We currently expect the 1H22 result to be slightly down on 2H21, noting: ● 1H22 included the Macquarie Infrastructure Corporation (MIC) disposition fee in Macquarie Asset Managemen
Slide 55: Medium-term outlook
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix 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 diversity and
Slide 56: Medium term
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Medium term Annuity-style businesses Markets-facing businesses Non-Banking Group Macquarie Asset Management (MAM) Macquarie Capital (MacCap) ● Leading specialist global asset manager, well-positioned
Slide 57: Appendix A
06 Appendix A Select slides from Macquarie’s result announcement for the year ended 31 Mar 21
Slide 58: Income statement key drivers
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Income statement key drivers Net interest and trading income of $A5,677m, up 20% on FY20 2H21 1H21 FY21 FY20 ● Higher income in CGM mainly driven by Inventory management and trading in North American
Slide 59: Macquarie Asset Management
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Asset Management Key drivers ● Base fees down due to: − Foreign exchange movements, asset realisations in Private Markets-managed funds and the full year impact of FY20 net flows in MIM Str
Slide 60: MAM AUM movement
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix MAM AUM movement Decrease due to impacts from foreign exchange and a reduction in contractual insurance assets, partially offset by MIM market movements and investment by Private Markets-managed fund
Slide 61: Private Markets EUM movement
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Private Markets EUM movement Decrease of 5% due to impacts from foreign exchange and equity returned, partially offset by continued capital raisings $Ab 170 160 8.9 0.7 12.9 1.0 150 (4.4) (6.2) 140 (
Slide 62: Banking and Financial Services
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Banking and Financial Services Key drivers ● Higher Personal Banking income driven by 27% growth in average home loan volumes, Strong home loan and deposits growth and lower credit partially offset b
Slide 63: Banking and Financial Services
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Banking and Financial Services Record 2H21 result - driven by growth in home loan portfolio, growth in deposits and lower credit impairment charges $Am 500 1H21 ($A68m) 2H21 $A137m 41 6 450 14 72 4 4
Slide 64: Banking and Financial Services
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Banking and Financial Services Strong growth across home loans, deposits and funds on platform $Ab $Ab 120 18 16.0 101.4 16 15.2 100 13.7 86.0 14 80.7 82.5 79.1 11.5 80 12 67.0 10.2 63.9 10 9.0 60 52
Slide 65: Commodities and Global Markets
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Commodities and Global Markets Key drivers ● Commodities − Increased Risk Management revenue across the commodities platform driven by increased contributions from Resources, North American Strong un
Slide 66: Macquarie Capital
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Capital Key drivers ● Lower net income on investments predominantly due to fewer material asset realisations compared to prior year ● Lower fee and commission income due to lower Result ref
Slide 67: Macquarie Capital
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Capital Movement in regulatory capital $Ab 6.0 ($A1.2b) $A1.3b 5.0 $A4.3b ($A0.5b) 4.0 $A3.9b 3.0 2.0 1.0 0.0 31 Mar 20 Investments Realisations FX 31 Mar 21 Debt Conventional Energy Infras
Slide 68: Costs of compliance
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Costs of compliance Total compliance spend1 $A646m in FY21, up 19% on FY20 FY21 FY20 ● The industry continues to see an increase in regulatory initiatives, resulting in increased compliance requireme
Slide 69: Balance sheet highlights
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Balance sheet highlights ● Balance sheet remains solid and conservative − Term assets covered by term funding, stable deposits and equity − Minimal reliance on short-term wholesale funding markets ●
Slide 70: Diversified issuance strategy
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Diversified issuance strategy Term funding as at 31 Mar 21 – diversified by currency1, tenor2 and type Currency Tenor Type EUR 5% GBP 2% Securitisations >1yr 10% 1–2yrs 9% Subordinated debt 5% Syndic
Slide 71: Continued customer deposit growth
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Continued customer deposit growth Macquarie has seen continued success in its long-term strategy of diversifying funding sources by growing its deposit base ● Of approximately 1.7 million BFS clients
Slide 72: Loan and lease portfolios – funded balance sheet
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Loan and lease portfolios1 – funded balance sheet Operating Mar 21 Mar 20 Group Category $Ab $Ab Description Home loans2 59.1 43.2 Secured by Australian residential property Business banking 10.5 9.4
Slide 73: Equity investments of $A5.9b
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Equity investments of $A5.9b1 Carrying value Carrying value Category Mar 21 $Ab Mar 20 $Ab Description Macquarie Asset Management (Private Markets) 1.5 1.8 Includes Macquarie Infrastructure Corporati
Slide 74: Approximate business Basel III Capital and ROE
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Approximate business Basel III Capital and ROE 31 Mar 21 APRA Basel III Capital1 Approx. FY21 Return on Approx. 15-year Average Operating Group @ 8.5% ($Ab) Ordinary Equity2 Return on Ordinary Equity
Slide 75: Appendix B
06 Appendix B Detailed result commentary
Slide 76: Macquarie Asset Management
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Asset Management Result ● Base fees of $A1,985m, down on FY20 primarily driven by FY21 FY20 − Foreign exchange movements, asset realisations in Private Markets-managed funds and the full $A
Slide 77: Banking and Financial Services
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Banking and Financial Services Result ● Net interest and trading income of $A1,746m, up 1% on FY20 FY21 FY20 $Am $Am − 24% growth in average loan portfolio volumes and a 23% growth in the average BFS
Slide 78: Commodities and Global Markets
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Commodities and Global Markets Result ● Commodities income of $A2,671m, up 54% on FY20; FY21 FY20 − Risk management products up 13% on FY20 reflecting strong results across the commodities platform $
Slide 79: Macquarie Capital
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Macquarie Capital Result ● Fee and commission income of $A1,387m, down 13% on FY20 due to lower mergers and FY21 FY20 acquisitions fee income and debt capital markets fee income, partially offset by
Slide 80: Appendix C: Glossary
© macauarie Appendix C Glossary
Slide 81: Glossary
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Glossary $A / AUD Australian Dollar DRP Dividend Reinvestment Plan $US / USD United States Dollar ECAM Economic Capital Adequacy Model £ / GBP Pound Sterling ECM Equity Capital Markets € Euro EMEA Eu
Slide 82: Glossary
Macquarie’s response to COVID-19 Overview of Macquarie Operating Groups 1Q22 Update Outlook Appendix Glossary M&A Mergers and Acquisitions NPAT Net Profit After Tax MacCap Macquarie Capital NPC Net Profit Contribution MAM Macquarie Asset Management NSFR Net Stable Funding Ratio MBL Macquarie Bank Li
Slide 83: Jefferies Asia Forum
Jefferies Asia Forum Presentation to Investors and Analysts 8-10 September 2021 82
Macquarie Group — Investor Presentation (September 2021) on 6ix