American Depository Receipt (ADR) Program

What is an American Depositary Receipt?

An ADR is a negotiable US certificate representing ownership of shares in a non-US corporation. ADRs are quoted and traded in US dollars in the US securities market. Also, the dividends are paid to investor in US dollars. ADRs can be held in book-entry form or as a physical certificate.

What is a level I ADR?

Level I Depositary Receipts are traded in the US OTC market with prices published in the "Pink Sheets" and on some exchanges outside the United States. Establishment of a Sponsored Level I program does not require full SEC registration and the company does not have to report its accounts under US GAAP or provide full SEC disclosure Essentially, a Sponsored Level I Depositary Receipt program allows companies to enjoy the benefits of a publicly traded security without changing its current reporting process.

Who is the depositary bank for Macquarie Group ADRs?

BNY Mellon is the depositary bank and plays a key role in the process of issuance and cancellation of ADRs. BNY Mellon also maintains the ADR holder register and distributes the dividends in US dollars. In addition, BNY Mellon is a DTC (Depositary Trust Company) participant as are brokers & dealers, other banks, trust companies and clearinghouses. For additional general information, please visit BNY Mellon’s website at www.adrbnymellon.com and search for Macquarie Group ADR profile.

What is the difference between an ADR and an ADS?

An American Depositary Receipt (ADR) is a negotiable certificate issued by a depositary bank representing a specific number of shares of a non-US company traded on a US stock exchange. An American Depositary Share (ADS) is the share issued under the ADR agreement which is actually traded.

Can I buy Macquarie Group ADRs through a broker just as you would buy US securities?

Yes

How do I convert my ordinary shares into ADRs?

The conversion of ordinary shares into ADRs must be done through a broker or an investment advisor. Alternatively contact BNY Mellon for further assistance with this.

Can I purchase ADRs directly from Macquarie Group?

No

What is the difference between a registered holder and a beneficial ADR holder?

A registered holder is one whose name appears on the books of the depositary. The registered holder is considered the owner of the record. A beneficial holder is one whose holdings are registered in a name other than his or her own, such as the name of a broker, bank or nominee.

How can I find out how many ADR shares I have?

For those holders who are not registered because their shares are held through a "Street name" (nominee account), please contact your nominee for information on your ADR holdings.

Do I always get an ADR certificate?

Your Macquarie Group ADR represents your ownership of shares in the company and can be held in certificate or book-entry form. If you hold your ADRs in certificate form these should be kept in a safe-deposit box or secure place. Certificates are negotiable documents and should be signed only in the event of a sale or transfer of ownership. If you hold your ADRs through a "Street Name" (nominee account) these will be in book-entry form and therefore you will not have an ADR certificate.

How often will I receive account statements?

You will receive account statements following each investment activity. You will also receive a statement at the end of the year showing all year-to-date transaction activity. You should retain these statements for tax purposes.

How can I change my account details, including address etc?

It is important that you contact BNY Mellon Shareowner Services to update any change to your account records.

Where can I find information regarding Macquarie Group ADR dividends?

For the most current Macquarie Group ADR dividend information you can call BNY Mellon. Please have your account number, exact address, and exact name(s) on the account ready when you call. You can also refer to BNY Mellon’s website and double click on the "Dividends and Distributions" section.

What financial information is available to US investors?

Macquarie Group provides the same financial information to all investors and conforms to all laws in the US on disclosure pertinent to Level I ADRs.