Macquarie Group Limited — Capital/Financing Update 2017

Mar 1, 2017

Macquarie Group Limited ABN 94 122 169 279

No.50 Martin Place Telephone (61 2) 8232 3333 Sydney NSW 2000 Facsimile (61 2) 8232 7780 GPO Box 4294 Internet http://www.macquarie.com Sydney NSW 1164 AUSTRALIA

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ASX/Media Release

Macquarie allocates US dollar hybrid capital

2 March 2017: Macquarie Group Limited (“MGL”) (ASX: MQG; ADR: MQBKY) and Macquarie Bank Limited ("MBL") (ASX: MBL), acting through its London branch, today announced that MBL has allocated USD 750 million of Macquarie Additional Capital Securities (“MACS”) to wholesale investors. The MACS will pay a fixed coupon of 6.125% per annum until the first Reset Date in March 2027. The Issue Date is expected to be 8 March 2017.

MACS will constitute Additional Tier 1 capital for MBL and can be Exchanged for MGL ordinary shares in certain circumstances. A summary of the MACS terms will be released prior to their issue.

Contact:

Karen Khadi	Macquarie GroupInvestor Relations	+61(2) 82323548
JamesFreeman	Macquarie GroupInvestor Relations	+61(2) 82320596
Lisa Jamieson	Macquarie Group Media Relations	+61 (2) 8232 6016
Navleen Prasad	Macquarie GroupMediaRelations	+61(2) 82326472

Disclaimer

The information provided in this announcement is not personal investment advice and has been prepared without taking into account your investment objectives, financial situation or particular needs (including financial and taxation issues).

This announcement does not constitute an offer of any securities (including the MACS) for sale or issue. In particular, this announcement does not constitute an offer of securities for sale in the United States. Neither the MACS nor MGL ordinary shares have been or will be registered under the US Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction of the United States, and they may not be offered, sold or resold in the United States or to, or for the account of benefit of any “U.S. person” (as defined in Regulation S under the Securities) absent registration or an applicable exemption from the registration requirements.