Macquarie Group Limited — Capital/Financing Update 2011

Jun 1, 2011

1.	Issuer:	Macquarie Group Limited
2.	Fungible with existing Series:	Not Applicable
3.	Specified Currency:	Japanese Yen ("JPY") (Condition 1.6)
4.	Aggregate Nominal Amount:	JPY 5,000,000,000

5.	Issue Price:	100.00 per cent. of the Aggregate
		Nominal Amount, fully paid.
6.	Specified Denominations:	Denominations of JPY 10,000,000
		(Condition 1.5)
7.	(i) Issue Date:	6 June 2011
	(ii) Interest Commencement Date	6 June 2011
8.	Maturity Date	4 June 2021 subject to adjustment in
		accordance with the Modified Following
		Business Day Convention (Condition 6.1)
9.	Interest Basis:	2.05% Fixed Rate (further particulars
		specified below)
	Default Interest:	Not Applicable
10.	Redemption Basis:	Redemption at par
11.	Change of Interest or Redemption /	Not Applicable
	Payment Basis:
12.	Put / Call Options:	Not Applicable
13.	Status of the Debt Instruments:	Unsubordinated
14.	Method of distribution:	Non-syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

(i) Interest Rate(s):	2.05 per cent. per annum payable semi-
	annually in arrear
(ii) Interest Payment Date(s):	4 June and 4 December in each year from

	(v) Day Count Fraction:	30/360, Unadjusted
	(vi) Determination Dates	Not Applicable
	(vii)Other terms relating to the method of Not Applicable
	calculating interest for fixed rate Debt
	Instruments
16.	FloatingRateDebtInstrument	Not Applicable (Condition 5.3)
	Provisions:
17.	ZeroCouponDebtInstrument	Not Applicable
	Provisions:
18.	Index-Linked Debt Instrument / other	Not Applicable
	variable-linked (other than equity-linked)
	Debt Instrument Provisions:
19.	DualCurrencyDebtInstrument	Not Applicable
	Provisions:
20.	Equity-Linked Debt Instrument	Not Applicable
	Provisions:
PROVISIONS RELATING TO REDEMPTION
21.	Redemption at Issuer's option (Call):	Condition 6.2 is not applicable
22.	Redemption at Debt Instrument Holder's Condition 6.3 is not applicable
	option (Put):
23.	Final Redemption Amount of each Debt Maturity Redemption Amount: the
	Instrument: outstanding principal amount of the Debt
		Instruments.
24.	Redemption at Issuer's option for loss of Conditions 6.5 and 6.6 are not applicable
	deductibilty (Condition 6.5) / regulatory
	reasons (Condition 6.6):
25.	Early Redemption Amount
	(i) Early Redemption Amount (Tax):	Outstanding principal amount together
		with accrued interest (if any) thereon
	(ii) Early Redemption Amount (Default):	Outstanding principal amount together
		with accrued interest (if any) thereon

	(ii) Type:	Fixed Rate Debt Instrument (Condition 1.2)
27.	Additional Business Centre:	London, New York and Tokyo (Condition
		5.7)
28.	Talons for future Coupons or Receipts to	Not Applicable
	be attached to Definitive Debt
	Instruments (and dates on which such
	Talons mature):
29.	Details relating to Partly Paid Debt	Not Applicable
	Instruments: amount of each payment
	comprising the Issue Price and date on
	which each payment is to be made and
	consequences (if any) of failure to pay,
	including any right of the Issuer to forfeit
	the Debt Instruments and interest due
	on late payment:
30.	Details relating to Instalment Debt	Not Applicable
	Instruments: amount of each instalment,
	date on which each payment is to be
	made:
31.	Redenomination, renominalisation and	Not Applicable
	reconventioning provisions:
32.	Consolidation provisions:	Not Applicable
33.	Other final terms:	Not Applicable
	(i) Payments in Australian Dollars:	Not Applicable
	(ii) Exceptions to Condition 8:	Not Applicable
	(iii) Other currency of account:	Not Applicable
	(iv) Cross default:	Not Applicable

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