TAILIEUCHUNG - Macquarie Infrastructure and Real Assets 2012

The topic of “risk” and what financial services firms are doing to manage or oversee risk has received heightened attention in recent years. The market events of 2007–2009 prompted many firms to take a fresh look at their practices and resources and to incorporate any lessons learned from their own or others’ experience. The Securities and Exchange Commission (SEC) has also focused attention on risk oversight practices by requiring companies, including funds, to disclose the board’s risk oversight role. (This paper occasionally uses the term “risk oversight” as a shorthand reference to the board’s oversight of risk management.). | Macquarie Infrastructure and Real Assets 31 December 2012 MACQUARIE MACQUARIE Disclaimer Important Information Other than Macquarie Bank Limited ABN 46 008 583 542 MBL none of the entities referred to in this presentation is an authorised deposit-taking institution for the purposes of the Banking Act 1959 Commonwealth of Australia . The obligations of these entities do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity unless noted otherwise. Macquarie and Macquarie Group refer to Macquarie Group Limited MGL and its worldwide subsidiaries and affiliates. This presentation is not an offer to sell or a solicitation of an offer to subscribe or purchase or a recommendation of any securities and may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. This presentation does not take into account the investment objectives financial situation and particular needs of the investor. Nor does it contain all the information necessary to fully evaluate any transaction or investment and as such no reliance should be placed on its contents. Any investment decision should be made based solely upon appropriate due diligence and if applicable upon receipt and careful review of relevant offering documents. Recipients of this presentation should neither treat nor rely on its contents as advice relating to legal taxation or investment matters and are advised to consult their own professional advisers. Investment in any fund is subject to significant risks of loss of income and capital. This presentation and its contents are confidential to the person to whom it is provided and should not be copied or distributed in whole or in part or disclosed to any other person without MGL s prior written consent. All performance data included herein concerning Macquarie and Macquarie-managed funds and assets have been prepared by the

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