Magellan Financial Group Ltd · ASX:MFG
Magellan Financial — Shareholder Meeting (October 2026)
25 slides from Magellan Financial's shareholder meeting presentation, Oct 22, 2026
Slide 1: Chair's Address
CHAIR’S ADDRESS It is a great privilege to stand before you as your Chair for the first time, at what is undoubtedly a very significant point in this company's history. 2026 has been a transformational year. On 1 July, we completed the merger of Magellan Financial Group and Barrenjoey Capital Partne
Slide 2: Financial performance
Financial performance Brian Benari, our Chief Executive Officer, will provide more depth on the financial performance of the combined group shortly, but let me provide you with the headlines. On a pro forma basis – as if the merger had completed a year earlier – for the 2026 financial year the combi
Slide 3: Governance and outlook
Neither of those things – five years of compounding growth, or twenty years of client trust – can be manufactured overnight, and this merger now gives shareholders the benefit of both, sitting side by side in one group. Governance and outlook You'll also be asked today to vote on seven Director elec
Slide 4: Chair's closing remarks
I am confident we have the right people, the right financial resources and the right oversight in place to deliver on the opportunity in front of us. On behalf of the Board, thank you to everyone across the expanded group for their dedication this year, and thank you, our shareholders, for your cont
Slide 5: Chief Executive Officer's Address
CHIEF EXECUTIVE OFFICER’S ADDRESS It's a privilege to address you today as the CEO of the combined MFG and Barrenjoey business. This has been a landmark year, and I want to use my time today to give you a sense of where the business stands, how it performed, and where we're taking it. Bringing two b
Slide 6: Barrenjoey standalone performance
Barrenjoey's standalone performance was strong: revenue of $573 million, up 34%, with growth across all three of its businesses, and operating profit after tax up 68% to $112 million. Return on equity approached 33% and operating leverage is emerging. We've also taken steps to reduce earnings volati
Slide 7: Priorities for FY27
Priorities for FY27 Looking ahead, our priorities are clear. First, completing integration and capturing the benefits of the merger – this is our top priority for the year. Second, extending our offering and client reach internationally. We've secured a US swap dealer licence for our Fixed income bu
Slide 8: Closing remarks
Importantly, we continue to invest in talent in the areas where we see substantial longer term growth opportunities across our businesses and particularly in this merger year. Closing To bring it together: this has been a landmark year, in which we completed a complex merger, repositioned the herita
Slide 9: 2026 Annual General Meeting
2026 Annual General Meeting Magellan Financial Group 22 October 2026
Slide 10: Presenters and agenda
Today’s Presenters and agenda 1 Group update Chair’s address MFG / Barrenjoey today David Gonski FY26 financial results 2 CEO’s address Capital and cash position Brian Benari Dividend David Gonski Brian Benari Chair Chief Executive Officer 2
Slide 11: Chair's address
Chair’s address David Gonski 1
Slide 12: MFG and Barrenjoey today
MFG and Barrenjoey today Client-focused financial services group with diversified revenue Corporate Finance Rebranding to1 • Advisory – M&A, strategy, equity and debt advice (ASX: MFG) (ASX: BJY) • Equity Capital Markets – capital raising, blocks and underwriting • Debt Capital Markets – Debt market
Slide 13: The combined group today
The combined group today Diversification brings greater revenue resilience and growth opportunities $778m $215m $41bn 593 FY26 revenue1 FY26 operating profit AUM2 Employees1,2 after tax1 [1] Pro forma FY26 (unaudited) [2] Pro forma as at 30 June 2026 5
Slide 14: Dividend
Dividend 2H26 dividend base • 2H26 combined MFG and Barrenjoey earnings • Fully diluted shares on issue post merger 2H26 dividend declared 25.5 cps, fully franked • Payout ratio 80%¹ Dividend policy revised (from FY27) • Targeting payout ratio of 60%–90% of operating profit after tax2 • Initially li
Slide 15: Governance
Governance Board of directors1 David Gonski AC Andrew Formica Paul Compton Peeyush Gupta AM Fiona Hick Independent Non- Deputy Non-Executive Non-Executive Director | Independent Non-Executive Non-Executive Director Executive Group Chair Group Chair Chairman of Investment Director Banking, Barclays D
Slide 16: CEO's address
CEO’s address Brian Benari 2
Slide 17: Merged MFG and Barrenjoey Group
Merged MFG and Barrenjoey Group FY26 Pro forma Group2 MFG profit and loss Barrenjoey profit and loss MFG plus Barrenjoey with inter-entity eliminations Includes MFG share of Barrenjoey equity- accounted profit ($42m1) Operating profit after tax Operating profit after tax Operating profit after tax $
Slide 18: MFG financial performance
MFG financial performance Lower Investment Management revenues with strategic partnerships delivering Revenue ($m)1 Operating profit after tax ($m)1,2 Net profit after tax ($m)1 Down 12% Down 9% Down 47% 329 317 29 52 291 160 239 10 152 45 145 31 53 76 165 $246m 84 62 135 FY FY Investment Management
Slide 19: Barrenjoey financial performance
Barrenjoey financial performance High growth and high returning with operating leverage emerging Operating profit after tax ($m)1 Return on equity2 (%) Cost to income ratio (%) High earnings growth High returning business Operating leverage emerging 112 82.7% 32.9% 29.7% 75.4% 67 70.8% 24.0% 38 24.0
Slide 20: Cash and capital
Cash and capital Fund investments materially reduced Cash and capital ($m)1 700 611 589 600 Magellan fund investments materially reduced 128 500 170 483 • $251 million of fund investments redeemed • Corresponding increase in cash 400 • Reduces earnings risk 300 348 365 200 419 Surplus cash and capit
Slide 21: Combined group: drivers of diversified revenue
Combined group Drivers of diversified and resilient revenue streams Corporate Finance Financial Markets Investment Management Advisory Fixed Income • Investment performance • Sector coverage • Client coverage • Net flows and AUM • Client coverage • Risk management • AUM composition and margin • Mark
Slide 22: MFG and Barrenjoey today: integration
MFG and Barrenjoey today Integration running ahead of schedule and merger synergies upgraded • All Sydney-based staff co-located following merger • Target operating model being implemented • Operational synergies upgraded to $15 million1 (from $6 million) and progressing • Expanded portfolio of new
Slide 23: Near term priorities with medium term benefits
Near term priorities with medium term benefits Clear plan for structured and disciplined growth Corporate Finance Financial Markets Investment Management Capture merger benefits 1 Successfully integrate and capture merger benefits Expand products and clients 2 Existing capability across Northern Hem
Slide 24: Important information
Important information This presentation has been prepared by Magellan Financial Group Ltd ACN 108 437 592 (“MFG”). This presentation contains summary information about MFG, and its related bodies corporate (including Barrenjoey Capital Partners Group Holdings Pty Limited and its subsidiaries (“Barre
Slide 25: Important information
Important information To the maximum extent permitted by law, MFG (including its related bodies corporate and strategic partners, directors, officers, employees, agents, associates, affiliates and advisers) (“MFG Parties”) disclaims and excludes all liability for any loss or damage suffered or incur
Magellan Financial Group — Shareholder Meeting (October 2026) on 6ix