AMP LIMITED — Capital/Financing Update 2021

Jul 7, 2021

ABN 94 122 169 279

Macquarie Group Limited

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50 Martin Place Telephone (61 2) 8232 3333 Sydney NSW 2000 Facsimile (61 2) 8232 3019 GPO Box 4294 Internet http://www.macquarie.com Sydney NSW 1164 AUSTRALIA

ASX/Media Release

MACQUARIE TO ACQUIRE GLOBAL EQUITY AND FIXED INCOME BUSINESS FROM AMP CAPITAL

SYDNEY, 8 July 2021 – Macquarie Group (Macquarie) (ASX: MQG; ADR: MQBKY) today announced that Macquarie Asset Management (MAM) has entered into a binding agreement to acquire AMP Capital’s Global Equity and Fixed Income (GEFI) business, including fixed income, Australian listed equities, listed real estate and listed infrastructure, for a consideration of up to $A185 million.

AMP’s GEFI business currently manages approximately $A60 billion in assets under management (AuM) for AMP Australia as well as external institutional, retail, and direct clients. Post completion, Macquarie expects to acquire assets and teams focused on GEFI’s global clients, as well as new and expanded investment capabilities in Australia and several international markets. As a result of this transaction, MAM’s pro-forma AuM is approximately $A720 billion[1] .

Ben Way, Head of Macquarie Asset Management, said: “This transaction represents another opportunity, following our recent acquisition of Waddell & Reed, to add scale and expand our public investment capabilities. It cements Macquarie’s position as the leading investment manager in Australia by AuM[2] , and provides new clients joining us from AMP Capital with access to Macquarie’s diversified investment offerings and global platform. Clients will be at the centre of our considerations as we work closely with AMP on a successful integration.”

James Georgeson, Acting Chief Executive Officer of AMP, said: “In bringing together two well-known Australian investment businesses with strong track records, we’re pleased to deliver such a positive outcome for our clients, our GEFI teams and AMP shareholders. Our review of the GEFI business last year showed it had strong capabilities and performance but needed greater scale to compete effectively. Macquarie is a high quality and respected manager, with a complementary culture and capabilities, wellplaced to develop the business and deliver continued strong investment performance for its expanded client base. We are committed to working with Macquarie to integrate and transition our clients and teams, and to exploring new partnership opportunities to enhance the products and services we both provide to our clients.”

The transaction consideration values GEFI at up to $A185 million, comprising a base payment of up to $A110 million in cash and a cash earn-out of up to $A75 million payable after the second anniversary of

1 Pro-forma AuM based on 31 Mar 21 MAM AuM with the inclusion of the Waddell & Reed Financial, Inc. and AMP Capital acquisitions.

2 Source Rainmaker International. Based on December 2020 Industry data.

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Macquarie Group Limited

transaction completion. Final terms are subject to meeting revenue targets. The transaction is expected to close in the first quarter of 2022, subject to customary closing conditions.

Contacts

Sam Dobson

Lisa Jamieson

Macquarie Group Investor Relations Macquarie Group Media Relations +61 2 8232 9986 +61 2 8232 6016

Authorised for release to ASX by Chief Financial Officer, Alex Harvey

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