Investor presentation and first half 2022 update

As part of its regular investor communications program, Macquarie Group (ASX: MQG; ADR: MQBKY) will be presenting at the Jefferies Asia Forum, held virtually between 8 and 10 September 2021. The presentation includes a 1H22 update to the short-term outlook statement Macquarie provided at the Group’s Annual General Meeting on 29 July 2021 as well as an update to the factors impacting short-term outlook on slide 52.

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 Management
• Favourable market conditions contributing to a stronger 1H22 Commodities and Global Markets result than anticipated together with the sale of the UK commercial and industrial smart meter portfolio

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 for economies
• Market conditions including significant volatility events and the impact of geopolitical events
• Potential tax or regulatory changes and tax uncertainties
• Completion of period-end reviews and the completion rate of transactions
• The geographic composition of income and the impact of foreign exchange

We continue to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions us well to respond to the current environment