cash offer

Independent Directors of Macquarie Capital Alliance Group
Recommend Take-Private Proposal
�� Cash offer of $3.40, a 62% premium to last closing price and a 53%
premium to the three month VWAP1
�� Scrip alternative to allow ongoing investment in MCAG’s businesses
�� Recommended by Independent Directors in the absence of a superior
proposal and subject to the opinion of an Independent Expert
Macquarie Capital Alliance Group (MCAG) today announced that it has entered into a
Scheme Implementation Agreement in relation to a proposal to acquire all the stapled
securities of MCAG by way of interconditional Schemes of Arrangements and a Trust
Scheme (the Scheme).
Funding for the proposal has been committed by investment vehicles managed by
AlpInvest Partners N.V., HarbourVest Partners, Pantheon Ventures, Partners Group, Paul
Capital Partners, Portfolio Advisors and Procific (the Consortium) and Macquarie Capital (a
member of the Macquarie Group). The Consortium is investing through a new unlisted
fund, Macquarie Advanced Investment Partners (MAIP). The proposal has been made by
Macquarie Advanced Investment Group (MAIG) 2.