Macquarie exits substantial Sandfire stake, invests in Service Stream

Macquarie Group Limited (MQG), along with its controlled bodies corporate, ceased to be a substantial holder in Sandfire Resources Limited (ASX:SFR) on November 17, 2025. This follows previous notices issued on November 14, 2025, and November 11, 2025.

The change in relevant interests primarily involved Macquarie Bank Limited (MBL) engaging in numerous "Stock - Purchase" and "Stock - Sale" transactions between July 18, 2025, and November 17, 2025. These transactions also included "Collateral Receive" and "Borrow Return" activities, with "on market purchase" and "on market sale" transactions also conducted by Macquarie Investment Management Australia Limited (MIMAL), Macquarie Investment Management Global Limited (MIMGL), and Macquarie Investment Services Limited (MISL). For example, MBL made a "Stock - Purchase" of AUD 16.37 for 61 FPO on November 12, 2025, and a "Stock - Sale" of AUD 20.39 for 791 FPO on August 7, 2025.

The decision to cease being a substantial holder in Sandfire Resources Limited coincided with Macquarie Group becoming a substantial shareholder in Service Stream Limited (ASX:SSM) on November 17, 2025, acquiring a 5.08% voting power, representing 31,409,326 FPO. This demonstrates a strategic reallocation of investments by Macquarie Group within the Australian market.