Macquarie Group Limited — Capital/Financing Update 2007

Dec 4, 2007

Macquarie Group Limited ABN 94 122 169 279

No.1 Martin Place Sydney NSW 2000 GPO Box 4294 Sydney NSW 1164

Telephone (61 2) 8232 3333 Facsimile (61 2) 8232 7780 Telex 122246 Internet http://www.macquarie.com.au DX 10287 SSE SWIFT MACQAU2S

Treasury 8232 3600 Facsimile 8232 4227 Foreign Exchange 8232 3666 Facsimile 8232 3019 Metals and Mining 8232 3444 Facsimile 8232 3590 Futures 9231 1028 Telex 72263 Debt Markets 8232 8569 Facsimile 8232 8341 Agricultural Commodities 8232 7672 Facsimile 8232 3633

5 December 2007

Company Announcements Office ASX Limited 20 Bridge Street Sydney NSW 2000

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Macquarie Group Limited Completes Acquisition of Orion Financial Inc.

Notice under ASIC Instrument 07/0847 relating to section 708A(5)(e) of the Corporations Act 2001 (Cwlth)

On 27 September 2007, the Macquarie group advised ASX that it had entered into an agreement to acquire Orion Financial Inc. This acquisition has now been completed. Combined with Macquarie’s existing Canadian investment banking business, the acquisition of Orion’s advisory, equity research, sales and trading platform has created a leading investment banking and securities franchise in Canada.

This notice is given by Macquarie Group Limited (ACN 122 169 279) (“MGL”) under ASIC Instrument 07/0847 dated 25 October 2007 (“ASIC Instrument”) relating to paragraph 708A(5)(e) of the Corporations Act 2001 (Cwlth) (“Corporations Act”). MGL advises that:

• (a) Macquarie Capital Acquisitions (Canada) Ltd, a subsidiary of MGL, has issued 1,659,504 Exchangeable Shares which may be exchanged into 1,659,504 ordinary shares in MGL (ASX code: ‘MQG’). The offers of Exchangeable Shares have all been received outside Australia and without disclosure to investors under Part 6D.2 of the Corporations Act. Any MGL shares issued on exchange of Exchangeable Shares will also be issued without disclosure to investors under Part 6D.2 of the Corporations Act; and

• (b) as at the date of this notice, MGL has complied with:

• (i) the provisions of Chapter 2M of the Corporations Act as they apply to MGL; and

• (ii) section 674 of the Corporations Act; and

• (c) as at the date of this notice, there is no information that is ‘excluded information’ (as that term is defined in subsection 708A(7) of the Corporations Act) that is required to be set out in this notice under ASIC Instrument relating to subsections 708A(6), 708A(7) and 708A(8) of the Corporations Act.

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Yours faithfully

Dennis Leong Company Secretary Macquarie Group Limited

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