Macquarie Evolve Multi-Asset Portfolios

1 Investment managerMacquarie Investment Management Global LimitedInception date25 November 2019: Conservative, Balanced and Growth profiles30 September 2020: High Growth profileManagement costs % paManagement fee *Indirect costsRefer to relevant PDSB enchmarkBenchmark unawareInvestment universeAustralian equities, International equities, Emerging market equities^, Global real estate, Global infrastructure, Australian fixed interest, International fixed interest, Currency, Alternatives^Growth and High Growth profile only. *Refers to the fee and costs applicable for investing in the Macquarie Evolve Multi-Asset Portfolios via the Macquarie Consolidator II Engage Platform.

2 Indirect cost figures are generally estimates for a previous financial year and the prevailing level of indirect costs may be asset MANAGEMENTM acquarie Evolve Multi-Asset PortfoliosDynamic and active Multi-Asset solutionsFor financial advisers use only. Not for distribution to retail investorsWhat is the style of asset allocation? The Evolve investment process starts with a Multi-Asset mean variance optimisation approach to determine a Strategic asset Allocation (SAA) adapted to each of the four risk profiles: Conservative, Balanced, Growth and High Growth. Each SAA utilises key inputs from our time tested proprietary quantitative and qualitative processes to set strategic asset allocation weights every 12 months.

3 Once the SAA weights are set, a tactical asset allocation (TAA) may take place. The TAA is a shorter-term asset allocation decision, which may deviate from the SAA weights, that aims to adapt the portfolio s asset allocation to the investment team s outlook for market over a three to six month time horizon. Finally, using an active core strategy, the Evolve Portfolios benefit from a Dynamic asset Allocation (DAA) which allows the Portfolios to take advantage of shorter term market movements as well as, offer protection in periods of volatility. Ultimately, the goal of our asset allocation process is to: Tailor each solution to a specific risk profile (see following section for details on the risk profiles) and.

4 Seek to achieve the target return, with minimum variance, within the given risk tolerance profile throughout different market risk profilesThe Macquarie Evolve Multi-Asset Portfolios are carefully constructed and tailored to four key investor profiles, providing different Portfolios for different investment GrowthInvestment objective: Aims to provide positive returns of per annum above Australian inflation over the medium term (before fees). Aims to provide positive returns of per annum above Australian inflation1 over the medium term (before fees). Aims to provide positive returns of per annum above Australian inflation1 over the medium term (before fees).

5 Aims to provide positive returns of per annum above Australian inflation1 over the medium term (before fees).What are the Macquarie Evolve Multi-Asset Portfolios ? Driven by the desire to improve investment outcomes the Macquarie Evolve Multi-Asset Portfolios ( Evolve Portfolios ) offer investors the opportunity to benefit from an actively managed dynamic Multi-Asset core, complemented by a satellite allocation to low cost passive dynamic active core is an investment solution which captures the best ideas of Macquarie Investment Management with the aim of delivering stable real returns, while managing downside risk, essential within a low yield this dynamic and active core with low-cost passive satellites provides the flexibility to tailor the Portfolios to four key risk profiles while remaining fee Inflation is defined as the Consumer Price Index (CPI)

6 As measured by the Reserve Bank of Australia Trimmed Mean, as published by the Australian Bureau of StatisticsDynamic ActiveCoreFor financial advisers use only. Not for distribution to retail investorsMacquarie Evolve Multi-Asset PortfoliosMacquarie asset ManagementConservativeBalancedGrowthHigh GrowthWho should invest? The portfolio is designed for investors with a low tolerance for volatile returns in the short term and seeking stable medium-term real returns generated through a dynamic Multi-Asset strategy with a higher exposure to defensive assets. The portfolio is designed for investors with some tolerance for volatile returns in the short term who seek higher medium-term returns generated through a dynamic Multi-Asset strategy with a balanced exposure to growth and defensive portfolio is designed for investors with tolerance for volatile returns in the short term and seeking higher medium-term real returns generated through a dynamic Multi-Asset strategy with a higher exposure to growth portfolio is designed for investors with a high tolerance for volatile returns in the short term and seeking higher medium-term real returns generated through a

7 Dynamic Multi-Asset strategy with a higher exposure to growth profile: The portfolio takes an alternative and dynamic approach to Multi-Asset investing. This actively managed portfolio invests predominantly defensive assets, with an average allocation to defensive assets over the medium-to-long term of around 80%. Macquarie Investment Management is an active manager delivering strategic, tactical and dynamic asset allocation to manage the portfolio through the cycle. As such this exposure can and will fluctuate over time, within the risk portfolio takes an alternative and dynamic approach to Multi-Asset investing.

8 This actively managed portfolio invests in a balance of defensive and growth assets, with an average allocation to growth assets over the medium term of around 60%. Macquarie Investment Management is an active manager delivering strategic, tactical and dynamic asset allocation to manage the portfolio through the cycle. As such this exposure can and will fluctuate over time, within the risk portfolio takes an alternative and dynamic approach to Multi-Asset investing. This actively managed portfolio invests predominantly growth assets, with an average allocation to growth assets over the medium term of around 80%.

9 Macquarie Investment Management is an active manager delivering strategic, tactical and dynamic asset allocation to manage the portfolio through the cycle. As such this exposure can and will fluctuate over time, within the risk limits. The portfolio takes an alternative and dynamic approach to Multi-Asset investing. This actively managed portfolio invests predominantly growth assets, with an average allocation to growth assets over the medium term of around 90%. Macquarie Investment Management is an active manager delivering strategic, tactical and dynamic asset allocation to manage the portfolio through the cycle.

10 As such this exposure can and will fluctuate over time, within the risk Evolve Balanced Multi-Asset PortfolioSMAMAQ05 SMacquarie Evolve Conservative Multi-Asset portfolio SMAMAQ06 SMacquarie Evolve Growth Multi-Asset PortfolioSMAMAQ07 SMacquarie Evolve High Growth Multi-Asset portfolio SMAMAQ09 SFor financial advisers use only. Not for distribution to retail investorsMacquarie Evolve Multi-Asset PortfoliosMacquarie asset ManagementPortfolios investible universe The Macquarie Evolve Multi-Asset Portfolios can utilise a range of managed funds, outlined ClassFundAPIR CodeDynamic Active CoreMacquarie Real Return Opportunities FundMAQ3069 AUAustralian EquitiesMacquarie True Index Australian Shares FundMacquarie Australian Shares Fund*MAQ0288 AUMAQ0443 AUAustralian Small Capitalisation Equities^ Macquarie Australian Small Companies Fund^MAQ0454 AUInternational Equities Macquarie True Index International Equities FundMacquarie Hedged Index International Equities FundMAQ0633 AUMAQ0421 AUEmerging Market Equities^Walter Scott Emerging Markets Fund^MAQ0651 AUAustralian Fixed InterestMacquarie True Index Australian Fixed Interest FundMacquarie True Index