Investor presentation and outlook update

As part of its regular investor communications program, Macquarie Group (Macquarie) (ASX: MQG; ADR: MQBKY) will be presenting at the CLSA Investors Forum on 16 and 17 September 2014.

Contained within the presentation (see attached) is an update to the short term outlook statement that Macquarie provided at the Group’s Annual General Meeting on 24 July 2014.

Notably, we now expect MFG to be up on FY14 due to increased performance fees from the listed and unlisted funds.

Given the increased contribution expected from MFG, we now expect the FY15 result for the Group to be slightly up on FY14.

• Given the timing of transactions, the 1H15 result is currently expected to be up approximately 25-30 percent on 1H14 and down on 2H14, subject to the level of performance fees and the conduct of period end reviews
• Consequently, it is expected that the 2H15 result will only be moderately up on 1H15

Our short term outlook remains subject to a range of challenges including:

• Market conditions
• The impact of foreign exchange
• The cost of our continued conservative approach to funding and capital; and
• Potential regulatory changes and tax uncertainties  

Over the medium term, Macquarie remains well positioned to deliver superior performance. The Group has deep expertise in major markets and we continue to build on our strength in diversity and adapt our portfolio mix to changing market conditions. We are seeing the ongoing benefits of continued cost initiatives, our balance sheet is strong and conservative, and we have a proven risk management framework and culture.

2014 CLSA Investors' Forum Presentation