Main Contents

Corporate Governance Statement Diversity Report Sustainability Report Risk Management Report Directors' Report - Remuneration Report - Schedule 1 - Schedule 2 Financial Report - Income statements - Statements of comprehensive income - Statements of financial position - Statements of changes in equity - Statements of cash flows - Notes to the financial statements - Directors' declaration - Independent audit report

Ten year history Additional investor information Sustainability Appendix Glossary

Remuneration Report Contents

Executive summary Introduction 1 Macquarie's remuneration approach is designed to achieve an appropriate balance between risk and return that aligns the interest of staff and shareholders 1.1 Macquarie's remuneration framework remains the same overall 1.2 Risk is incorporated into the remuneration process 1.3 Macquarie's remuneration system is structured to balance risk and return 1.3.1 Key features of the remuneration system 1.3.2 Investment of retained profit share 1.3.3 Forfeiture of retained unvested profit share whilst employed - Malus 1.3.4 Early vesting and release of retained profit share 1.3.5 Disqualifying events 1.3.6 Performance share units (PSUs) 2 With only incremental change, Macquarie's remuneration approach has allowed it to meet the expectations of governments, regulators and shareholders, as well as dealing with market pressures 3 In a difficult year, Macquarie's creditable performance relative to peers has been supported by the remuneration approach, allowing it also to motivate and retain key staff

4 Strong governance has been exercised 4.1 Strong Board oversight exists to ensure sound overall remuneration governance 4.2 An independent remuneration review has been undertaken 5 Non-Executive Directors continue to be recognised for their role 5.1 Non-Executive Director remuneration policy 5.2 Board and Committee fees 5.3 Minimum shareholding requirement for Non-Executive Directors Appendices: Key Management Personnel disclosures Appendix 1: Key Management Personnel Appendix 2: Remuneration disclosures - Managing Director and CEO Appendix 3: Statutory Remuneration disclosures Appendix 4: Share and option disclosures Appendix 5: Loan disclosures Appendix 6: Other disclosures

Financial Report Contents

Income statements Statements of comprehensive income Statements of financial position Statements of changes in equity Statements of cash flows Notes to the financial statements 1. Summary of significant accounting policies 2. Profit for the financial year 3. Segment reporting 4. Income tax expense 5. Dividends and distributions paid or provided for 6. Earnings per share 7. Receivables from financial institutions 8. Cash collateral on securities borrowed and reverse repurchase agreements 9. Trading portfolio assets 10. Investment securities available for sale 11. Other assets 12. Loan assets held at amortised cost 13. Impaired financial assets 14. Other financial assets at fair value through profit or loss 15. Life investment contracts and other unitholder investment assets 16. Property, plant and equipment 17. Interests in associates and joint ventures accounted for using the equity method 18. Intangible assets

19. Investments in subsidiaries 20. Deferred tax assets/(liabilities) 21. Non-current assets and disposal groups classified as held for sale 22. Cash collateral on securities lent and repurchase agreements 23. Trading portfolio liabilities 24. Other liabilities 25. Payables to financial institutions 26. Other financial liabilities at fair value through profit or loss 27. Debt issued at amortised cost 28. Provisions 29. Capital management strategy 30. Loan capital 31. Contributed equity 32. Reserves, retained earnings and non-controlling interests 33. Notes to the statements of cash flows 34. Related party information 35. Key Management Personnel disclosure 36. Employee equity participation 37. Contingent liabilities and commitments 38. Capital and other expenditure commitments 39. Lease commitments 40. Derivative financial instruments 41. Financial risk management

42. Average interest bearing assets and liabilities and related interest 43. Fair values of financial assets and liabilities 44. Audit and other services provided by PricewaterhouseCoopers 45. Acquisitions and disposals of subsidiaries and businesses 46. Events after the Reporting Period Directors' declaration Independent audit report