Macquarie Group Limited — Capital/Financing Update 2011

Apr 28, 2011

Macquarie Group Limited ABN 94 122 169 279

No.1 Martin Place Telephone (61 2) 8232 3333 Treasury 8232 3600 Facsimile 8232 4227 Sydney NSW 2000 Facsimile (61 2) 8232 7780 Foreign Exchange 8232 3666 Facsimile 8232 3019 GPO Box 4294 Telex 122246 Metals and Mining 8232 3444 Facsimile 8232 3590 Sydney NSW 1164 Internet http://www.macquarie.com.au Futures 9231 1028 Telex 72263 DX 10287 SSE Debt Markets 8232 8569 Facsimile 8232 8341 SWIFT MACQAU2S Agricultural Commodities 8232 7672 Facsimile 8232 3633

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ASX Release

MACQUARIE GROUP EMPLOYEE RETAINED EQUITY PLAN (MEREP)

29 April 2011 Following approval of changes to its remuneration arrangements by Macquarie Group Limited (Macquarie) (ASX: MQG) shareholders on 17 December 2009, Macquarie invests a significant proportion of employees’ performance based remuneration in an employee equity plan, the MEREP. Macquarie is now offering equity awards under MEREP (Awards) in conjunction with its annual profit share and promotions cycle and intends to buy the required shares on-market.

The shares will be acquired by the MEREP Trustee from 9 May 2011 up to 30 June 2011 (MEREP Buying Period). Macquarie currently expects that approximately $420 million (at the current market price) will be allocated for the purchase of shares over the MEREP Buying Period. The number of Awards that will be allocated in respect of deferred remuneration amounts will be calculated by dividing the relevant amount for each employee (adjusted for any applicable on-costs) by the average price at which Macquarie shares are acquired on-market over the MEREP Buying Period (Conversion Price). The corresponding Awards will be subject to vesting and other conditions under MEREP, as described in the Remuneration Report in Macquarie’s 2011 Annual Report.

For further information, please contact:

Stuart Green, Investor Relations	Tel: (02) 8232 8845
Macquarie Group
Lisa Jamieson, Corporate	Tel: (02) 8232 6016
Communications
Macquarie Group