New operator for Mount Private Hospital

Research evidence excerpt

New operator for Mount Private Hospital

tions – 12 months Gross cashflow = adjusted net profit + depreciation * Applicable to select stocks in Asia/Australia/NZ

12-month target – Expected share price *equivalent fully paid ordinary weighted average number of

in 12 months Note: expected return is reflective of a Medium Volatility shares

Valuation – The company's estimated stock and should be assumed to adjust proportionately

All Reported numbers for Australian/NZ listed stocks are fair value share price based on the disclosed with volatility risk

modelled under IFRS (International Financial Reporting valuation methodology

Standards). Note: Quant recommendations may differ

from Fundamental Analyst recommendations

Recommendation proportions for quarter ending 31 Mar 2026

AU/NZ Asia USA

Outperform 66.90% 69.32% 67.14% (for global coverage by Macquarie, 1.93% of stocks followed are investment banking clients)

Neutral 27.18% 17.21% 32.86% (for global coverage by Macquarie, 0.40% of stocks followed are investment banking clients)

Underperform 5.92% 13.47% 0.00% (for global coverage by Macquarie, 0.00% of stocks followed are investment banking clients)

Company-Specific Disclosures

Company Name Disclosure

HealthCo Healthcare & Wellness Macquarie has provided non-investment banking non-securities services to a subsidiary of Healthco Healthcare and Wellness REIT

REIT (HCW AU) in the past 12 months, for which it received compensation.

Neutral Macquarie Group Limited together with its affiliates beneficially owns 1% or more of the equity securities of Healthco Healthcare

12-month target: AUD0.67 - NAV and Wellness Reit.

Valuation: AUD 1.86 - DCF (WACC 6.8%,

beta 0.7, ERP 5.0%, RFR 2.8%, TGR 2.0%)

Price: AUD0.66

Target Price Risk Disclosures

Company Name Risk Disclosure