Macquarie Group Limited — Capital/Financing Update 2012

Mar 15, 2012

Macquarie Group Limited ABN 94 122 169 279

No.1 Martin Place Telephone (61 2) 8232 3333 Sydney NSW 2000 Facsimile (61 2) 8232 7780 GPO Box 4294 Internet http://www.macquarie.com.au Sydney NSW 1164 AUSTRALIA

ASX / MEDIA RELEASE

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Macquarie notes Moody’s ratings of Macquarie Bank and other entities

- Sydney, 16 March 2012 Macquarie Group Limited (ASX:MQG; ADR:MQBKY) today noted that Moody’s Investor Service (Moody’s) had revised the credit ratings for Macquarie Bank Limited (MBL) and other Macquarie entities which have been under review since 4 November 2011. Moody's stated that the ratings actions "come as part of a global sector review of banks and securities firms with capital market operations."

Following the Moody’s ratings review today, the ratings of Macquarie entities are:

• Macquarie Bank Limited: A2 long term (from A1) / P-1 short term (affirmed)

• Macquarie Group Limited: A3 long term (from A2) / P-2 short term (from P-1)

The Outlook for both the long term and short term rating for Macquarie Bank Limited and Macquarie Group Limited is Stable.

Macquarie noted comments made by Moody's that “Macquarie has very low exposure to euro-area risks. It had very low exposure to stressed asset classes during the financial crisis in 2008/09. Additionally, its earnings are more stable since proprietary trading is not a core activity. Macquarie's liquidity and capital metrics are also at the upper end of its peer group.”

Moody’s further noted that “Macquarie has also been quick to seize opportunities afforded by the crisis, and increased investment in businesses, such as funds management, that have the potential to generate smoother revenue streams.”

Macquarie's Chief Financial Officer, Patrick Upfold, said: “Moody’s A2 rating of Macquarie Bank Limited is in line with the ‘A’ rating assigned by Fitch Ratings earlier this week and Standard & Poor’s longstanding ‘A’ rating. MBL is the entity that funds the vast majority of the Group’s activities.

Macquarie Group Limited

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“Following the conclusion of these extensive industry reviews by the three major credit ratings agencies, Macquarie Bank Limited’s strong capital, funding and liquidity positions, together with its risk management track record, has been recognised by it being rated ‘A’ across the board.”

The three major credit rating agencies’ ratings of Macquarie entities are as follows:

	Moody’s	Fitch	S&P
Macquarie Bank Limited	A2 / P-1	A / F-1	A / A-1
Macquarie Group Limited	A3 / P-2	A- / F-2	BBB / A-2

The outlook on the long term and short term rating assigned to Macquarie Bank Limited and Macquarie Group Limited by both Moody’s and Fitch is Stable. S&P’s outlook for the long term rating for both entities is also Stable. (S&P does not assign an outlook on short term ratings.)

Contacts

Stuart Green Investor Relations +61 2 8232 8845 Joanne Spillane Investor Relations +61 2 8232 9906 Lisa Jamieson Corporate Communications +61 2 8232 6016