• 1Q26 net profit contribution down on pcp, with improved BFS and MacCap performance offset by lower MAM and CGM
• Group capital surplus of $A7.6 billion, exceeding regulatory requirements
• BFS deposits up 4%, home loans up 6%, funds on platform up 7%, business banking loans up 4%

Macquarie Group (ASX: MQG) provided an update on the first quarter of its 2026 financial year ahead of its 2025 Annual General Meeting. Macquarie's net profit contribution for 1Q26 was down on 1Q25, with improved performance in Banking and Financial Services (BFS) and Macquarie Capital (MacCap) more than offset by lower contributions from Macquarie Asset Management (MAM) and Commodities and Global Markets (CGM). MAM's net profit contribution was down primarily due to timing of investment-related income, while BFS saw volume growth in loans and deposits offset by margin compression. CGM's contribution was down due to reduced Commodities performance, partially offset by increased client activity in Financial Markets and Asset Finance. MacCap's net profit was up, driven by higher income from the private credit portfolio and increased fee and commission income. Macquarie's financial position continues to comfortably exceed regulatory requirements, with a Group capital surplus of $A7.6 billion at 30 June 2025. The Bank Group's CET1 ratio was 12.7% (Harmonised: 17.6%), leverage ratio 5.1% (Harmonised: 5.8%), LCR 184%, and NSFR 110%. Macquarie maintains a cautious stance, with factors like market conditions, transaction completions, foreign exchange, and regulatory changes potentially influencing its short-term outlook. However, the Group remains well-positioned to deliver superior performance in the medium term.

Macquarie continues to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions it well to respond to the current environment. Factors that may influence Macquarie's short-term outlook include global economic conditions, inflation and interest rates, significant volatility events, geopolitical events, completion of period-end reviews and transactions, the geographic composition of income, and potential tax or regulatory changes.