Macquarie Group Limited is a global provider of banking, financial, advisory, investment and funds management services. It was established in 1969 and currently operates in over 70 locations worldwide. The document provides a disclaimer stating that the information presented is a summary and readers should seek independent financial advice. It also contains forward-looking statements which are subject to uncertainty.

1. Macquarie Group Limited
Introduction
June 2010

2. Disclaimer
Disclaimer
The material in this presentation has been prepared by Macquarie Group Limited ABN 94 122 169 279 (“Macquarie”) and is
general background information about Macquarie’s activities current as at the date of this presentation. This information is
given in summary form and does not purport to be complete. Information in this presentation, including forecast financial
information, should not be considered as advice or a recommendation to investors or potential investors in relation to holding,
purchasing or selling securities or other financial products or instruments and does not take into account your particular
investment objectives, financial situation or needs. Before acting on any information you should consider the appropriateness
of the information having regard to these matters, any relevant offer document and in particular, you should seek independent
financial advice. All securities and financial product or instrument transactions involve risks, which include (among others) the
risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk.
This presentation may contain forward looking statements including statements regarding our intent, belief or current
expectations with respect to Macquarie’s businesses and operations, market conditions, results of operation and financial
condition, capital adequacy, specific provisions and risk management practices. Readers are cautioned not to place undue
reliance on these forward looking statements. Macquarie does not undertake any obligation to publicly release the result of
any revisions to these forward looking statements to reflect events or circumstances after the date hereof to reflect the
occurrence of unanticipated events. While due care has been used in the preparation of forecast information, actual results
may vary in a materially positive or negative manner. Forecasts and hypothetical examples are subject to uncertainty and
contingencies outside Macquarie’s control. Past performance is not a reliable indication of future performance.
2

3. Introduction
to Macquarie

4. About Macquarie
Global provider of banking, financial, advisory, Recent Growth Profile
investment and funds management services 1969 Established as Hill Samuel Australia Limited, a wholly-owned subsidiary of UK
merchant bank Hill Samuel & Co Ltd
Founded in 1969, currently operates in more 1985 Obtained an Australian banking licence as Macquarie Bank Limited
than 70 office locations in 28 countries and 1989 London office opened
employs over 14,600 people 1994 New York office opened
1995 Hong Kong office opened
Listed on Australian Securities Exchange (ASX: 1996 Macquarie Bank Limited publicly listed on the Australian Stock Exchange
MQG; ADR: MQBKY) -------------------------------------------------------------------------------
2004 Acquired Asian cash equities business of ING Group (Asia)
Regulated by APRA, Australian banking 2005 Acquired Cook Inlet Energy Supply (US)
regulator, as non-operating holding company of 2007 Acquired Giuliani Capital Advisors LL (US)
a licensed Australian bank Formally established Macquarie Group Limited as a Non-Operating Holding company
2008 Established a UK bank on 4 February
Market capitalisation of €15.25bn as at 4 June Acquired Orion Financial Inc. (Canada)
2010 Acquired CIT Systems Leasing (US)
2009 Acquired Constellation Energy’s downstream natural gas trading operations (North
Assets under management €221bn1 America)
2010 Acquired Tristone Capital Global Inc.(Canada, US, UK, Argentina)
Acquired Delaware Investments (US)
Acquired Fox-Pitt Kelton Cochran Caronia Waller (North America and Europe)
Acquired Blackmont Capital (Canada)
Acquired equity derivatives & structured products and cash equities sales and research
business of Sal. Oppenheim (Europe)
Acquired 120,00-vehicle auto finance portfolios as Ford Credit & GMAC exit Australia
Agreed to acquire a portfolio of 47 aircraft from ILFC/AIG
1. As at 31 March 2010. EUR amounts have been converted solely for the convenience of the reader at the 31 March 2010 exchange rate: AUD =EUR0.6791
4

5. Diversified by region
Major International Operations
EUROPE, MIDDLE EAST
ASIA AMERICAS
& AFRICA3
Income: €586m (13% of total) Income: €774m (18% of total) Income: €916m (21% of total)
Staff: 1,473 Staff: 2,410 Staff: 3,478
Beijing
Seoul
Tokyo
Shanghai Calgary
Taipei Vancouver
Hong Kong Hsinchu Seattle
Toronto
Dublin Stockholm Gurgaon Manila San Francisco Bloomfield Hills Montreal
London Amsterdam San Jose Chicago Boston
Bristol Frankfurt Bangkok Irvine Hartford
Paris Moscow4 Los Angeles Denver
Vienna Mumbai Carlsbad San Diego New York
Zurich Luxembourg Atlanta Philadelphia
Geneva Munich Kuala Lumpur Dallas
Singapore Austin HoustonJacksonville
Miami
Jakarta Mexico
Dubai
Abu Dhabi
Sunshine Coast
Gold Coast Brisbane
Perth
Adelaide Newcastle
Sydney
Melbourne Canberra Auckland
Wellington
Christchurch Riberao Preto
Sao Paulo
Buenos Aires
Johannesburg3
Cape Town
AUSTRALIA
Income: €2,104m (48% of total)
Staff: 7,296
1. Income for full year to 31 Mar 10. Income in each region excludes earnings on capital and other corporate items. 2. Staff numbers at 31 Mar 10. 3. Excludes staff in Macquarie First South joint venture. 4. Staff
seconded to joint venture not included in official headcount (Moscow: Macquarie Renaissance, Savannah: Medallist).
5

6. Diversified by region
Operating Income by Region
1,800
1,600
1,400
1,200 2H08
Operating income $Am1
1H09
2H09
1,000
1H10
2H10
800
600
400
200
0
Australia Asia Americas Europe, Middle East & Africa
1. Operating income excludes earnings on capital and other corporate items.
6

7. Diversified by business
Major business activities
Macquarie Macquarie Macquarie Fixed Income, Corporate Banking and
Securities Capital Funds Currencies and and Asset Financial
Group Group Commodities Finance Services Group
Institutional cash Mergers and Offers a range of Trading, sales, research Leasing and asset Tailored cash solutions:
equities and equity acquisitions, takeovers investments across a and finance covering: finance CMA, term deposits,
capital markets and corporate variety of asset classes, Cash XL
services through joint restructuring advice including: - Fixed income – Tailored debt and
venture with Macquarie interest rate, debt finance solutions for Advice: Premium
Capital Advisers Equity capital markets, - Equities and credit clients Portfolio service, wealth
equity and debt capital securities mgt, private bank,
Derivatives DeltaOne management and - Listed Asset remarketing, private portfolio mgt,
Trading: raising infrastructure - Currencies – sourcing and trading full service stockbroking
foreign exchange
- Institutional/ Alternative asset funds - Listed real estate spot, forward and Intermediary: Macquarie
retail derivatives management, tailored services Wrap, Coin Financial
including infrastructure - Currencies Planning software,
- Structured and real estate funds - Commodities – mortgages, life
equity finance - Fixed income metals, energy, insurance
Debt structuring, environmental
- Arbitrage trading distribution and debt - Cash products, Direct services:
capital markets agriculture, freight, Macquarie Edge online
- Synthetic - Commodities bulk commodities trading and credit cards
products and
- Private equity complementary Relationship banking
- Global securities and hedge fund futures services services
finance of funds
Funds management
- Structured and administration
products
7

8. Diversified income
Operating income by source
Operating income before writedowns, impairments, equity accounted gains/(losses) and one-off items
Institutional and retail
cash equities
Equity derivatives 12 months to 31 Mar 09 12 months to 31 Mar 10
€4.9b €4.8b
Macquarie-managed funds (includes
base and performance fees, M&A
advisory and underwriting and asset
sales)
9% 15% 18%
Securities funds management 20% 17%
16% 22%
and administration
6%
Third party M&A and advisory 12% 8%
income
13% 16%
Asset and equity investments 14%
28% 12% 10%
Commodities, resources 15%
and foreign exchange 13% 8%
7% 8% 9%
10% 7%
7% 9%
Lending, leasing and margin 10%
related income
As at 31 March 2010. EUR amounts have been converted solely for the convenience of the reader at the 31 March 2010 exchange rate: AUD = EUR0.6791.
8

9. Financial performance
Full year ended 31 March 2010
EURm FY10 operating income of €4,508m EURm FY10 profit of €713m
2,500 20% increase on FY09 500 21% increase on FY09
2,000 400
1,500 300
1,000 200
500 100
0 0
2H08 1H09 2H09 1H10 2H10 2H08 1H09 2H09 1H10 2H10
EUR FY10 dividends per share of €1.26
EUR FY10 earnings per share of €2.17 1.5
2.0 3% decrease on FY09 1% increase on FY09
1.5
1.0
1.0
0.5
0.5
0.0 0.0
2H08 1H09 2H09 1H10 2H10 2H08 1H09 2H09 1H10 2H10
As at 31 March 2010. EUR amounts have been converted solely for the convenience of the reader at the 31 March 2010 exchange rate: AUD = EUR0.6791.
9

10. Funded balance sheet remains strong
Macquarie Group Limited
$Ab 30 September 2009 $Ab 31 March 2010 $Ab 31 March 2010 Pro -forma1
90 90 90 Impact of CMT/CMA initiative
ST wholesale
80 issued paper (6%)
6.5x
80 80 excess
Other debt 2
maturing in the next 12
ST wholesale 4.5x mths (8%)
70 issued paper (7%) excess
70 ST wholesale 70 Cash and liquid
issued paper (6%) Other debt
2
6.0x maturing in the next 12 assets (37%)
Other debt
maturing in the next 12
2
excess mths (9%) Cash and liquid
mths (8%) assets (30%)
60 Deposits
60 Cash and liquid 60
(34%)
assets (37%) Deposits
Deposits (26%)
(24%) 50
50 Trading assets 50
(17%) Trading assets
(15%)
Trading assets 40
40 (13%) Loan assets 40
Loan assets
< 1 year (10%) < 1 year (9%)
Debt maturing
Loan assets beyond
< 1 year (8%) 30 12 mths (35%)
30 Debt maturing 30
Debt maturing beyond > 1 year Loan assets
beyond 12 mths (40%) (26%) > 1 year Loan assets
12 mths (44%) Loan assets (30%) > 1 year
20 > 1 year 20 20 (27%)
(27%)
Loan capital
10 10 10 Debt investment securities
Equity (16%)
Equity Equity (14%) Equity
Equity (16%) Equity
investments
3 investments 3 investments 3
(7%) (7%)
(8%)
0 PPE
0 0
Funding sources Funded assets Funding sources Funded assets Funding sources Funded assets
Note: These charts represent Macquarie Group Limited’s funded balance sheets at the respective dates noted above.
1. Adjusted to reflect CMT volumes at 31 March 2010. 2. Includes Structured Notes, Secured Funding, Bonds, Other Bank Loans maturing within the next 12 mths and Net Trade Creditors. 3. This represents the
Group’s co-investment in Macquarie-managed funds and equity investments
10

11. Consistently strong capital base
Well capitalised – surplus over Group’s minimum regulatory capital requirement of €2.7b
Core equity represents 91% of the Group’s capital base
€b €8.0b
8 CPS
MIS €6.9b
7 MIPS €6.3b
Core equity
6
€4.9b
5
4
€3.3b
3
2
1
0
2006 2007 2008 2009 2010
Pre-restructure: Tier 1 regulatory capital (Basel I) Post-restructure: Eligible regulatory capital (Basel II)
EUR amounts have been converted solely for the convenience of the reader at the 31 March 2010 exchange rate: AUD = EUR0.6791
11

12. Assets under management of €221billion¹
Significant increase in AUM due to Delaware acquisition in Jan 10
• Excluding Delaware1, reported AUM decreased by €46b mainly due to the listed fund initiatives and strengthening
of the $A since Mar 09
Pro-forma AUM includes impact of CMT/CMA transfer (€7b at Mar 10)
€b
250 3
Banking and Financial Services €221b €215b2
Macquarie Funds Group
200 Real Estate
Macquarie Capital Funds
€158b €165b
150 €134b
100
€95b
50
0
2006 2007 2008 2009 2010 Mar 10 Pro-forma
1. Delaware Investments AUM at 31 Mar 10 was €103b. 2. Mar 10 pro-forma AUM includes the impact of the proposed conversion of the CMT to the CMA. CMT AUM was €7b at 31 Mar 10. 3. The Macquarie CMT,
included in BFS AUM above, is a BFS product that is managed by MFG. EUR amounts have been converted solely for the convenience of the reader at the 31 March 2010 exchange rate: AUD = EUR0.6791.
12

13. Macquarie’s
Operating Businesses

14. Macquarie’s Operating Businesses
Update on recent initiatives
Macquarie Securities Macquarie Capital
A global specialist offering unique insights into energy, resources, commodities, Integrated global M&A, DCM, ECM and principal investing platform
infrastructure, real estate, quant and FIG sectors driven by deep knowledge of specialising in Infrastructure, FIG, Real Estate, Industrials, TMET and
the Asia Pacific region Resources
Currently 8th largest broker based on global stock coverage – Over 2,700 The leading Asia-Pacific ECM house, plus rapidly expanding advisory
stocks covered globally and ECM capabilities across Canada, the US, the UK, Germany and
Maintained No.1 market share in Australia and growing in other regions. South Africa (MacCap completed a number of IPOs in all these regions
Leading warrants market share Asia Pacific: Korea and Singapore (No.1), Hong during FY10)
Kong (No.3) and Australia (No.1) for FY10 Leading alternative asset funds manager with $A96b of Assets Under
Management across 100 businesses1
Acquisitions: Acquisitions: Acquisitions:
Tristone: Sal Oppenheim – Equity Trading and Tristone:
• Acquisition closed Aug 09, now called “Macquarie Tristone”. Integration complete
• Fully integrated into MSG Derivatives
• 43 new financings over $C4.4b for Canadian, American and European based oil and gas
• 36 sales, research and trading • More than 90 staff based in Germany companies, where Macquarie acted as lead or co-lead in almost 30% of transactions
professionals in London, Denver and and Switzerland • Closed 17 M&A transactions worth $C6.3b
Calgary • Complements existing Asian derivatives • Macquarie ranked No.3 globally in FY10 by oil and gas M&A deal count (including
undisclosed and private deals)2
FPK: operation and adds a wider set of
• Fully integrated into MSG products to its growing European Fox-Pitt Kelton Cochran Caronia Waller (FPK):
business • Acquisition closed 30 Nov 09. Integration now complete
• Over 110 staff in New York, Hartford,
Sal Oppenheim – Cash: • Participated in 12 new financings/raising over $US44b for US and European financial
Boston, Chicago and London institutions
• Added FIG sector expertise in North • Cash equities business comprising • US and Europe closed 11 FIG Advisory transactions worth $US1.3b
America and Europe to complement equities research, sales and trading and • Macquarie/FPK US is currently mandated on 26 advisory engagements with aggregate
Macquarie’s well established FIG position execution functions focused on estimated transaction size of approximately $US3.2b
in the Asia-Pacific region continental Europe • Macquarie/FPK UK has been awarded a syndicate position on the landmark Prudential
rights offering, in support of its acquisition of AIA from AIG
• Brought FIG research to approximately • 50 new staff based in Germany, France
765 stocks globally and Switzerland Organic growth:
Organic growth: • Broadens existing pan-European reach New offices: Buenos Aires, Mexico City and Moscow
with the business being particularly New senior hires: 40+ new director-level hires during FY103
52 selective director level hires globally since New products: established DCM business in the US, taking part in $US3b of book-runs and
strong in Germany
FY09, majority of which are in the Cash $US3b of co-manager deals in four mths
Division
1. As at 31 Mar 10. 2. Bloomberg. 3. In addition to the director-level appointments associated with the acquisitions of Tristone and FPK.
14

15. Macquarie’s Operating Businesses
Update on recent initiatives
Fixed Income, Currencies & Commodities Macquarie Funds Group
Specialist in global commodity markets offering tailored price risk Strong, established fund management franchise, particularly in
management solutions to significant commodity producers and Australia and the US, with over $A200b in Assets under
consumers Management
Top 5 physical gas marketer and highest ranked finance house in North Strength and discipline of an institutional manager with the
America and participant in US physical power giving Macquarie and its responsiveness and innovation of a boutique
clients important insights to energy market dynamics
Leading arranger and placement agent in Australian primary debt
markets and increasing participant in the US corporate debt markets
offering clients valuable fundamental research, quality trade execution
and outstanding trading opportunities
Organic growth: Acquisitions:
Energy Markets:
Delaware Investments:
• Energy Markets Division outperformed expectations in FY10 and focussed on
• Running ahead of expectations
consolidating its North American gas and power franchise – Macquarie Energy
• Approx $US151b in AUM (as at 31 Mar 10)
Asian expansion:
• Now branded “Delaware Investments, a member of Macquarie Group”
• Selective Asian growth initiatives with a Korean branch licence granted in 2H10 and
• 20 staff from MFG now located in Philadelphia
the establishment of a Singapore-based physical oil trading capability
• Sales team combined in the US under Delaware Head of Distribution
Credit Trading:
• Ability to offer Macquarie product into US distribution platform across a
• Finalisation of the US build-out of the Credit Trading business and a focus on variety of asset classes including infrastructure securities, REITs and
opportunities in Europe commodities
Emerging Markets: • Systems upgrade and integration project underway
• Building upon the Miami based, Latam facing operation
Organic growth:
• Continued its growth in NY and began expansion into Europe
• Selectively recruited 6 director level hires as part of organic expansion,
Physical shipping: particularly in the fundamental team within Listed Equities and the fund
• Shipping of coal, LNG, oil derivative capability in the US
• Freight – wet and bulk freight trading services
Fixed Income and Currencies:
• Expansion in NY, London and Asia
15

16. Macquarie’s Operating Businesses
Update on recent initiatives
Corporate and Asset Finance Banking and Financial Services
Strong technical expertise to provide finance and asset management Premium advice, service and products to Australian retail
solutions to over 200,000 clients investors through Australia’s No.1 Full Service Retail
Over $A13.6b of assets, including corporate debt and leased autos, Stockbroker, market leading platforms, supported by the largest
IT&T, manufacturing, infrastructure/energy, rail and aviation engines cash hub in the country, and seeks to replicate this model in its
international businesses in North America, Asia, and the UK
Leading Australian independent motor vehicle financier
Macquarie Wrap Solutions is one of Australia’s leading platforms
Acquisitions: Acquisitions:
Aviation Leasing Macquarie Private Wealth (Canada) (formerly Blackmont Capital)
• Agreed to acquire a portfolio of 47 modern aircraft from International Lease Finance Corp for • Separation from former parent company CI completed and integration well advanced
approx. $US1.7b • Total assets under management: $C8.25b, up 5% from acquisition
• Aircraft on lease to 35 airlines in 27 countries
• Total number of advisers 144 with 13 additional adviser recruits since completion
• Leverages Macquarie’s existing expertise in the aviation leasing sector
• Cross referral activities underway: e.g. opportunities for MPW advisors to bring
• Completion to occur over remainder of calendar 2010
corporate advisory clients and private placements to Macquarie Capital
IT Leasing
• Expansion of research coverage from 100 stocks to approx 450 across Canada and
• Acquisition of Technology Services Division of RTS and management of RTS’s approx. $US500m the US
lease portfolio
• Adds technology services capability to existing US equipment finance business and expands client • Continued growth in revenue expected for both Macquarie Capital and BFS
base to over 2,400 companies in North America Organic growth:
• Completion date: Feb 10
Selectively recruited 16 director level hires as part of the group's expansion into the UK and
Motor Vehicle Leasing Asian financial services markets and also in specialist areas including insurance and Service
• $A1.0b auto finance portfolios acquired as Ford Credit exits the Australian market and Operations in the Australasian market
• Ford portfolio performance exceeding pre-acquisition projections
• Further expansion of existing domestic leasing businesses to provide finance to Australian SMEs
Organic growth:
6 director level appointments with expertise in leasing, lending, credit, legal and M&A
16

17. Macquarie
in EMEA

18. Macquarie in EMEA
Key information
Regional headquarters – London
16 office locations in 10 countries
Active in the region since the late 1980s
1,473 staff^
Abu Dhabi
Income: €586 million
Amsterdam
(13 per cent of total income)* Bristol
Cape Town
Dubai
Dublin
Frankfurt
Geneva
Johannesburg1
Leeds
London
Moscow2
Munich
Paris
Stockholm
Vienna
Zurich
*Income for the full year to 31 March 2010. ^As at 31 March 2010. EUR amounts have been converted solely for the convenience of the reader at the 31 March 2010 exchange rate: AUD = EUR0.6791. 1. Excludes
staff in Macquarie First South joint venture. 2. Staff seconded to joint venture not included in official headcount (Moscow: Macquarie Renaissance, Savannah: Medallist).
18

19. Macquarie in EMEA
Capital markets, advisory and securities Asset and Wealth Management
Corporate finance and advisory Alternative asset funds management
Debt structuring and distribution Hedge funds management
Emerging markets advisory Intermediary services
Equity capital markets, equity and debt capital management Products distribution
and raising
Retail financial services and advisory
Institutional cash equities
Retail and wholesale funds management
Metals and energy capital
Securities funds management
Real estate development
Structured and specialist investments
Real estate investment management
Lending Financial Markets
Corporate Lending Arbitrage trading
Equipment trading and remarketing Corporate action trading
Finance and operating leasing Debt markets
Real estate financing Emerging markets
Environmental markets
Freight markets
Futures broking and clearing
Over-the-counter derivatives in agricultural commodities,
energy and metal markets
Physical gas and electricity trading
Securities borrowing and lending
19