• Successful completion of $130 million institutional placement
• Placement attracted strong demand from existing and new investors
• Proceeds to fund acquisition of ~10% stake in Barrenjoey Capital Partners

Magellan Financial Group Ltd (MFG) has announced the successful completion of its non-underwritten institutional placement of approximately 15.4 million new fully paid ordinary shares to raise $130 million. The placement was well received, attracting significant demand from both existing shareholders and new investors. The new shares were issued at a price of $8.45 per share, representing a 0.1% discount to the closing price on 27 February 2026 and the 5-day VWAP. MFG Chairman Andrew Formica stated that the company is pleased to welcome new highly respected investors to the register, viewing their participation as an endorsement of the proposed merger with Barrenjoey Capital Partners and the future prospects for the group. Alongside the placement, MFG will also offer eligible Australian and New Zealand shareholders the opportunity to participate in a non-underwritten $20 million share purchase plan at the same offer price of $8.45 per share. The proceeds from both the placement and the share purchase plan will be used to fund MFG's obligation to acquire an incremental ~10% economic interest in Barrenjoey Capital Partners from an affiliate of Barclays PLC for $148.9 million.