M&A ADVISOR OF THE WEEK

Macquarie is a global group operating in 31 markets in asset management, retail and business banking, wealth management, leasing and asset financing, market access, commodity trading, renewables development, investment banking and principal investment. The diversity of their operations, combined with a strong capital position and robust risk management framework, has contributed to Macquarie’s 51-year record of unbroken profitability IDENTITY CARD Founding Number of 1969 15 849 Date Employees

➢ Headquarters: Sydney ➢ Other Offices: Operates in 2019 M&A Locations (33%), EMEA (29%), $478 Mds Americas (25%), and Asia Transactions (13%)

➢ Asset Management Total assets of Core ➢ Banking and Financial $A255.8 billion and total Services Capabilities equity of $A21.8 billion as ➢ Commodities & Global at 31 March 2020 Markets

© Financial Networking Group. All rights reserved. External sources: S&P Global Market Intelligence, Thomson Eikon, Bloomberg and Investing.com 1 TOP MANAGEMENT

Peter H. WARNE Shemara WIKRAMANAYAKE

• Independent Chairman since 1 April 2016 • Managing Director & CEO • Former director of the Sydney Futures • Joined in 1987 Exchange (SFE) from 1990 to 1999 • Worked in Macquarie Capital for 20 years • Previously served as Chairman of ALE Property before beign appointed Head of Macquarie Group from 2003 to 2017 and OzForex Group Asset Management Limited • She also established and led Macquarie’s • Education: B.A. in actuarial science from corporate advisory offices in New Zealand, Macquarie University Hong Kong and Malaysia • Education: B.A. in commerce from University of New South Wales

NEWS

• Macquarie Group announced in May, 8 2020 the net income after tax attributable to common shareholders of A2,731 million for the fiscal year ended March 31, 2020, down 8% from the fiscal year ended March 31, 2019. Fiscal 2020 was impacted by higher write-downs related to the potential economic impacts of the COVID-19 pandemic • Macquarie acquired in April, 30 2020 a majority interest in Multifuels Midstream Group, a differentiated energy and utility infrastructure platform focused on natural gas lateral pipelines and related assets in the United States, supporting its customers by providing safe, reliable and cost-effective solutions to rebuild or replace their aging assets

© Financial Networking Group. All rights reserved. External sources: S&P Global Market Intelligence, Thomson Eikon, Bloomberg and Investing.com 2 HISTORY

• Macquarie was founded on 10 December 1969 as Hill Samuel Australia Limited (HSA)

• In 1971 HSA secured Australia's biggest mandate at the time, a US$60 million financing for corrugated iron manufacturer John Lysaght Australia. HSA expanded its presence in the Australian market, opening a Melbourne office in 1972, and a Brisbane office in 1975

• The continued to grow its activities in the 1980s. It became Australia's leading bullion trader. It opened offices in and Munich, expanded into funds management by establishing Australia's first cash management account

• The 1980s were marked by significant financial market deregulation in Australia, including the floating of the Australian dollar and the removal of restrictions on foreign . To take advantage of the opportunities offered by deregulation, HSA submitted a proposal for the formation of a new substantially Australian owned and controlled bank to be called Macquarie Bank Limited

• In 1996, Macquarie Bank Limited listed on the Australian Securities Exchange (ASX:MQG)

• Macquarie continued to expand its Asia operations in the early 2000s with the opening of offices in Seoul and Tokyo in 2000, and through the acquisition of ING Group’s Asian cash equities business in March 2004

• In 2005, Macquarie announced an unsolicited bid for the London Stock Exchange valuing the company at £1.5 billion, a bid rejected by LSE management

• Macquarie has significantly grown its renewable energy activities this decade. In January 2015, Macquarie Group acquired a stake in Baltic 2 offshore wind park from EnBW for a fee totaling €720 million

© Financial Networking Group. All rights reserved. 3 MACQUARIE’S ENTITIES & ORGANISATION

• Macquarie has a non-hierarchical organisational structure, split into four operating groups • Individual businesses operate within Macquarie's operating groups. These businesses work closely together, specialising in defined products or markets • Four service groups provide the framework, infrastructure and support that the operating groups require to manage their business. These are the Corporate Operations, Financial Management, Legal and Governance, and Risk Management Groups. Macquarie Macquarie Commodities Banking and Asset Capital and Global Financial Management Markets Services

[Macquarie.com ]

© Financial Networking Group. All rights reserved. 4 RECENT TRANSACTIONS

ADDITIONAL INFORMATION

• Macquarie Capital provides boards and management teams with independent judgment and deep expertise as they navigate their most important transactions and strategic decisions • The world's biggest infrastructure asset manager and a top 50 global asset manager, managing more than $A495 billion of assets on behalf of superannuation funds and other institutional investors • Macquarie Group takes its name from Major General Lachlan Macquarie, one of Australia's early leaders who established the nations’s first bank, introduced its first currency and initiated many significant economic and social reforms

© Financial Networking Group. All rights reserved. External sources: S&P Global Market Intelligence, Thomson Eikon, Bloomberg and Investing.com 5 CHAIRMAN AND CEO Quotes - MACQUARIE CAPITAL

“Macquarie remains well placed because of its diversity of business mix and geography, strong capitalisation and well-funded balance sheet, and a conservative approach to risk management.”

PETER WARNE Independent Director and Chairman

“We are proud of the way in which staff have adapted to the changed operating environment, including the vast majority of staff moving to work remotely, without interruption to their activities or to client service.”

SHEMARA WIKRAMANAYAKE Managing Director and CEO

ADDITIONAL RESOURCE

• https://www.macquarie.com/assets/macq/investor/reports/2020/Macquarie-Group-FY20-Annual- Report.pdf/

© Financial Networking Group. All rights reserved. External sources: S&P Global Market Intelligence, Thomson Eikon, Bloomberg and Investing.com 6 DISCLAIMER

This report has been prepared by Financial Networking Group for information purposes only. No information published in this report constitutes a solicitation or offer, or recommendation, to buy or sell securities of any other financial instruments. Although we have used sources believed to be accurate, we do not guarantee either the accuracy or completeness of this report. No reliance should be placed on the information in this document to transact in financial products and no liability is accepted for any loss arising from reliance on it. Any opinions expressed are subject to change without notice. Investors are expected to make their own investment decisions without relying on this information. You should obtain specific advice from qualified experts before making any investment decision.

© Financial Networking Group. All rights reserved. External sources: S&P Global Market Intelligence, Thomson Eikon, Bloomberg and Investing.com 7