Macquarie Group adjusts DSU holdings, no longer substantial holder in Graincorp

Macquarie Group Limited reported the cessation of 14,042 Deferred Share Units (MQGAM) on November 25, 2025. This was due to the lapse of conditional rights where satisfaction conditions were unmet or incapable of being satisfied. This action adjusts Macquarie Group's total unquoted Deferred Share Units to 4,295,475. Concurrently, Macquarie Group and its controlled bodies corporate ceased to be substantial holders in Graincorp Limited.

This change follows multiple on-market and off-market trades by Macquarie Bank Limited (MBL), Macquarie Investment Management Australia Limited (MIMAL), and Macquarie Investment Management Limited (MIML) between November 19 and November 28, 2025.

During these trades, MBL engaged in numerous stock sales and purchases of FPO securities, with prices ranging from AUD 7.57 to AUD 8.59. The sales significantly outnumbered purchases, including a sale of -10,750,000 FPO at AUD 8.00 by Macquarie Capital (Australia) Limited on November 25, 2025. MIMAL and MIML also conducted on-market purchases and sales, with MIML reporting an on-market sale of -1,343 FPO at AUD 7.88 on November 27, 2025, and -1,527 FPO at AUD 8.17 on November 28, 2025. Overall, these transactions resulted in Macquarie Group's voting power in Graincorp Limited decreasing from 6.33% (14,062,596 votes) to 7.34% (16,320,366 votes) as of November 27, 2025.