24-Sep-21

Listed model portfolios Macquarie Wealth Management Research

MWM Recommended Listed Portfolios

The MWM Recommended Portfolios represent a starting point to form a portfolio with growth or income characteristics. The port folios are reviewed monthly. Combined Macquarie Securities analysts assist with the construction of the portfolios. The following valuation sheets are updated on a weekly basis.

Growth Portfolio , page 2 Stocks are generally selected on the basis of solid earnings growth supported by strong returns on equity, attractive sector characteristics or competitive advantages.

Income Portfolio, page 3 This portfolio is created with a focus on a higher degree of earnings certainty, backed by strong cash -flows and highly tax effective dividend income. Growth portfolio Macquarie Wealth Management Research

24 September, 2021 Prev Target Market EPS growth (%) ROE (%) PE Ratio (x) Portfolio Code Company Sector Recommendation Close Price Cap $m FY21 FY22 FY21 FY22 FY21 FY22 Weights CSL CSL Health Care Neutral 312.99 302.50 142,620 12.6 -7.3 31.9 24.6 43.7 47.1 7.9% JHX Materials Outperform 53.86 59.00 23,974 29.6 27.6 43.7 48.9 38.0 29.8 7.7% ALL Consumer Discretionary Neutral 46.40 39.00 29,628 69.9 29.0 24.1 27.0 36.6 28.3 7.2% IEL IDP Education Consumer Discretionary Outperform 32.84 32.00 9,141 -51.7 168.8 10.1 25.9 232.8 86.6 6.9% BHP BHP Group Materials Outperform 38.38 56.00 113,231 88.5 2.8 34.5 32.5 8.3 8.0 6.7% CWY Waste Management Industrials Outperform 2.75 3.15 5,667 -0.5 1.5 6.4 6.3 34.1 33.6 6.1% SGR Consumer Discretionary Outperform 4.35 4.25 4,141 -6.4 -90.2 3.3 0.3 35.3 358.8 5.9% GMG Real Estate Outperform 22.87 24.84 42,726 14.0 13.2 9.9 10.7 34.9 30.8 5.6% MGR Group Real Estate Outperform 3.16 3.28 12,459 -15.8 25.2 4.2 5.1 28.5 22.7 5.0% SDF Steadfast Group Financials Outperform 4.92 4.90 4,805 16.6 11.9 14.1 14.3 26.5 23.7 4.9% COH Cochlear Health Care Outperform 237.04 256.00 15,591 36.5 20.5 15.3 16.3 65.8 54.6 4.8% MIN Mineral Resources Materials Outperform 47.79 80.00 9,025 229.6 5.4 40.3 32.8 8.2 7.8 4.6% RMD ResMed Inc. Health Care Neutral 39.58 37.50 57,511 12.1 24.6 29.0 31.6 53.9 43.2 4.6% BXB Brambles Industrials Outperform 11.07 13.05 15,967 16.0 2.1 20.5 21.1 21.3 20.8 4.6% NWL Netwealth Group Financials Outperform 15.21 17.75 3,708 22.1 16.3 63.9 61.0 67.7 58.2 4.5% OZL Oz Minerals Materials Outperform 22.97 32.00 7,648 176.7 22.1 17.4 18.6 12.7 10.4 4.5% EML EML Payments Information Technology Outperform 3.96 4.45 1,440 14.8 -17.3 7.6 6.9 44.9 54.3 3.1% FCL FINEOS Corporation Information Technology Outperform 4.40 4.92 1,327 nmf 55.6 -7.4 -2.6 nmf nmf 2.8% NST Northern Star Resources Materials Outperform 9.15 14.00 10,653 nmf nmf -2.2 1.7 nmf 77.3 2.6% nmf - not meaningful For additional information ask your advisor for (or refer to) the most recent portfolio review. Source: Macquarie Wealth Managament Research and Macquarie Research Income portfolio Macquarie Wealth Management Research

24 September, 2021 Prev Target Market Div yield (%) Franking (%) PE Ratio (x) Portfolio Code Company Sector Recommendation Close Price Cap $m FY21 FY22 FY21 FY22 FY21 FY22 Weights TLS Corporation Communication Services 3.98 - 47,335 4.0 4.0 100 100 41.3 32.7 8.2% WBC Banking Corporation Financials Neutral 25.07 26.50 91,972 4.8 5.0 100 100 15.3 15.5 7.4% NAB National Bank Financials Outperform 27.07 29.00 88,844 4.6 4.8 100 100 14.5 14.5 7.1% ANZ ANZ Bank Financials Outperform 27.38 29.50 77,947 5.1 5.1 95 90 14.0 13.4 6.5% PMV Premier Investments Consumer Discretionary Outperform 27.63 33.00 4,389 2.9 2.9 100 100 16.9 20.3 6.2% WES Consumer Discretionary Neutral 57.49 61.35 65,184 3.1 6.6 100 100 27.3 28.3 6.2% SHL Health Care Neutral 41.49 40.50 19,897 2.2 2.4 51 35 15.2 17.0 5.9% ALX Industrials Neutral 6.89 6.52 6,608 4.1 6.1 0 0 10.2 7.9 5.6% CBA Financials Underperform 100.80 88.50 178,829 3.5 3.9 100 100 21.7 20.3 5.5% MFG Magellan Financial Group Financials Neutral 37.92 46.75 6,969 5.6 6.7 75 75 16.8 14.6 5.5% AST AusNet Services Utilities 2.58 - 9,881 3.7 3.7 40 0 29.1 35.2 5.2% APA APA Group Utilities 8.73 - 10,300 5.8 6.1 0 16 62.2 34.8 4.8% FMG Materials Outperform 15.53 25.00 47,816 24.5 16.5 100 100 3.4 4.9 4.8% COL Consumer Staples Outperform 16.97 19.80 22,637 3.6 3.7 100 100 22.5 21.8 4.7% AZJ Holdings Industrials Outperform 3.72 4.27 6,847 7.7 7.6 70 30 13.0 13.2 4.4% AMC Materials Outperform 16.13 18.02 24,714 4.0 4.2 0 0 15.7 14.5 4.2% GUD GUD Holdings Consumer Discretionary Outperform 10.23 13.60 970 5.6 5.9 100 100 14.2 14.2 3.8% NEC Co. Holdings Communication Services Neutral 2.63 2.80 4,485 4.0 3.8 100 100 17.2 18.3 3.8% nmf - not meaningful For additional information ask your advisor for (or refer to) the most recent portfolio review. Source: Macquarie Wealth Managament Research and Macquarie Research Recommendation definitions (Macquarie Australia/New Zealand) Outperform – return >3% in excess of benchmark return Neutral – return within 3% of benchmark return Underperform – return >3% below benchmark return

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