Macquarie Group Macquarie Group Limited Limited Deutsche Bank - PowerPoint PPT Presentation

Macquarie Group Macquarie Group Limited Limited Deutsche Bank – Access China 2008 Conference Richard Sheppard – Deputy Managing Director Beijing – January 2008 www.macquarie.com

Disclaimer This material has been prepared for professional investors. The firm preparing this report has not taken into account any customer’s particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations herein are not intended to represent recommendations of particular investments to particular customers. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments and, in international transactions, currency risk. Due care and attention has been used in the preparation of forecast information. However, actual results may vary from forecasts and any variation may be materially positive or negative. Forecasts, by their very nature, are subject to uncertainty and contingencies many of which are outside the control of Macquarie Group Limited (Macquarie). 2

CONTENTS CONTENTS Page Number 1. Macquarie Group overview 4 2. Business activities 14 3. Asian operations 24 4. Recent performance 30 5. Appendix I – Operating groups 35 6. Appendix II – Macquarie Capital Advisers in Asia 44 3 Unless otherwise specified all information is for the six months ended 30 September 2007 and increases are on the prior corresponding half year.

Macquarie Group Limited Overview

Macquarie Group Limited overview � Diversified financial services institution providing banking, financial, advisory and investment services � Consistent high growth rates since establishment in 1969 � Approximately 12,000 staff operating in 25 countries � Top 15 company on the Australian Securities Exchange (ASX:MQG) � Macquarie and Macquarie-managed funds^: Top 5 company on Australian Securities Exchange � Assets under management: $A224 billion � Record result for half-year ended 30 Sep 2007: Net profit after tax of $A1.06 billion ^ Macquarie and Macquarie-managed funds hypothetical market capitalisation comprises the market capitalisations of all specialist listed Macquarie entities and the capitalisation 5 of all Macquarie unlisted specialist funds as measured by net asset value.

麦格理集团有限公司概览 多元化的金融服务机构，提供银行、财务、顾问和投资服务 � 自 1969 年成立以来一直保持较高增长速度 � 在 25 个国家汇集约 12,000 名员工为其效力 � 澳大利亚证券交易上市公司前 15 强之一 (ASX:MQG) � 麦格理和麦格理旗下管理的基金：在澳大利亚证券交易所居前 5 位 � 旗下管理资产总价值： 2240 亿澳元 � 截至 2007 年 9 月 30 日半年业绩再创纪录：税后净利润达 10.6 亿澳元 � ^ Macquarie and Macquarie-managed funds hypothetical market capitalisation comprises the market capitalisations of all specialist listed Macquarie entities and the capitalisation 6 of all Macquarie unlisted specialist funds as measured by net asset value.

39 year history of profit First half Net Profit After Tax profit $Am 1,600 $A1.06b 1,400 3 1,200 2 1,000 800 1 600 0 400 69 71 73 75 77 79 200 0 69 72 75 78 81 84 87 90 93 96 99 '02 '05 1H08 7 Years ended 31 March. Data current to 30 September 2007. From 2005 numbers have been reported under Australian equivalents to International Financial Reporting Standards (AIFRS)

Growth in earnings per share* First half earnings per share $A $A5.92 600 500 $A4.02 $A4.00 400 $A3.70 300 $A2.33 200 $A1.65 $A1.39 $A1.33 $A1.24 $A1.01 $A0.88 100 $A0.75 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 1H08 * Basic EPS 8 Years ended 31 March. Data current to 30 September 2007. From 2005 numbers have been reported under Australian equivalents to International Financial Reporting Standards (AIFRS)

Strong returns to shareholders since listing Index 2,200 2,000 MQG* Total Shareholder Return (1,697%) 1,800 1,600 At 31 All Ords Accumulation Index (366%) Dec 07 1,400 1,200 1,000 800 600 400 200 0 Jul-96 Jul-97 Jul-98 Jul-99 Jul-00 Jul-01 Jul-02 Jul-03 Jul-04 Jul-05 Jul-06 Jul-07 9 Source: Bloomberg. Data current to 31 December 2007. * Traded as MBL until 2 November 2007

Group structure Macquarie Group Limited Group-wide services Finance, Risk Management, Taxation, Human Resources, etc Banking Group Non-Banking Group Banking and Securitisation Funds Management Group Group Certain activities from Equity Markets Macquarie Capital Equity Markets Group Real Estate Group Group and Treasury and Commodities Group Treasury and Commodities Financial Services Group Group 10 Refer to Appendix for detail on operating groups

Assets under management over $A224b $Ab $A224b Securities Wholesale Securities Retail $A197b 200 Other Specialist Real Estate Infrastructure $A140b 150 $A97b 100 $A63b $A52b $A41b 50 0 2002 2003 2004 2005 2006 2007 Sep-07 11 Years ended 31 March. Data current to 30 September 2007.

Managing important assets across the globe Over 110 infrastructure assets, over 700 real estate assets � Aquarion* UK � Moto-Motorway Services Canada USA South Korea � M6 Toll � Edmonton Ring Road � South Bay Expressway � International-Matex Tank � Baekyang Tunnel Provider � Bristol Airport � 407 ETR � Dulles Greenway � Cheonan Nonsan Expressway Terminals � National Car Parks � Energy Power Resources (UK) � A-25* � Indiana Toll Road � Longview � Incheon Expressway � East London Bus Group � Wales & West Utilities � AltaLink � Skyway � Smarte Carte � Kwangju 2 nd Beltway Section 1 & 3 � Steam Packet � Thames Water � Cardinal Power � FastTrack parking � American Consolidated Media � Machang Bridge � Wightlink � CLP Envirogas � Sea to Sky � Atlantic Aviation � Global Tower Partners � New Daegu-Busan Expressway � Talarius � Macquarie DDR � Arqiva / National Grid Wireless � Clean Power Operating � AIR-serv � Soojungsan Tunnel � Macquarie Global � Airwave � Icon Parking � Macquarie CountryWide � Daegu East Circular Road Trust** Property Advisors (MGPA) � Red Bee Media � Whitecourt � Hanjin Container Terminals � Macquarie Office � Incheon Grand Bridge � Halterm Limited � District Energy � Macquarie Leisure � Seoul Chuncheon Expressway Belgium � Leisureworld � Duquesne Light* � Woomyunsan Tunnel Denmark � Brussels Airport � Copenhagen Airport � Fraser Surrey Docks � The Gas Company (Hawaii) � Seoul Subway #9 � New World Gaming* � Yongin Seoul Expressway France � Seosuwon-Osan-Pyungtaek Malaysia � Autoroutes Paris-Rhin-Rhône � MGPA Expressway � Energy Power Resources � SK E&S (Europe) � West Sea Power/West Sea Water Singapore � Trois Sources & Lomont � MMP REIT � Kukdong Building Windfarms � MGPA � Macquarie NPS REIT � Macquarie Global Property United Arab Emirates Advisers � Al Ain Industrial City China/Taiwan � Industrial City of Abu Dhabi Germany � Taiwan Broadband Communications � Warnow Tunnel Phase 2 � InfraVest Windpower � TanQuid (tank storage � Industrial City of Abu Dhabi � Changshu Xinghua Port business) Phase 3 � First China Property Group � Techem � ICAD Effluent Treatment Plant � MWREF � MGPA � MMP REIT � Macquarie Office � Macquarie CountryWide South Africa � N3 Toll New Zealand Hong Kong � N4 Maputo Toll � Metlife Care Italy � MGPA � Bakwena Platinum Corridor � MGPA � Private Lifecare � Macquarie Goodman Hong Kong � Neotel � Macquarie Office � Retirement Care New Wholesale Fund � Kelvin Power Zealand Netherlands Portugal � Macquarie CountryWide � NRE* � Tagus Crossings � Macquarie Leisure � European Directories# Japan � Obragas Net* Spain � Toyo Tires Turnpike Australia � Itevelesa � Netbeheer Haarlemmermeer* � Southern Cross Broadcasting � Ibukiyama Driveway � Prospect Water � Zig Inge � MGPA � Macquarie Office � Dampier – Bunbury � Transtoll � Macquarie Office Sweden � Sydney Airport � MMP REIT � Multinet � Macquarie CountryWide � Arlanda Express � Macquarie Direct Property Fund � United Energy Distrib. � Westlink M7 � Macquarie Leisure Poland � Deep Sea Container Terminal � AlintaGas Networks � Eastlink � MGPA � MREEF � Retirement Villages Group � Macquarie Goodman Asia � MGPA � Broadcast Australia � Macquarie Direct Property Switzerland � Macquarie CountryWide � MGPA � Macquarie Regional Radioworks � Regis Group Fund Real Estate Airports Communications Utilities Roads Transport services Other As at 30 September 2007. In some cases, Macquarie or a Macquarie-managed fund has partial interest in an asset. *Subject to financial and customary closing 12 arrangements ** Includes wind, hydro and biomass power assets #European Directories also in Sweden, Finland, Austria, Czech Republic, Slovakia, Denmark & France.