ASX:MFG - Change of Director's Interest Notice - Hamish McLennan

Appendix 3Y Change of Director's Interest Notice

Appendix 3Y

Rule 3.19A.2

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Magellan Financial Group Limited
ABN	59 108 437 592

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Hamish McLennan
Date of last notice	24 November 2020

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest	McLennan Superannuation Fund
(including registered holder)	Londolozi Family Trust
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	8 December 2020
No. of securities held prior to change	105,248 Ordinary Shares in (ASX: MFG)
	91,144	Units in (ASX: MGG)
	36,869	Units in (ASX: MHH)
Class	Units in (ASX: MGG)
Number acquired	91,144	Units in (ASX: MGF)
Number disposed*	91,144	Units in (ASX: MGG)*
Value/Consideration	$1.8286 per Unit in (ASX: MGG)
Note: If consideration is non-cash, provide details and estimated	$1.8278 per Unit in (ASX: MGF)
valuation
No. of securities held after change	105,248 Ordinary Shares in (ASX: MFG)
	91,144	Units in (ASX: MGF)
	36,869	Units in (ASX: MHH)
Nature of change	On 8 December 2020, the restructure approved by
Example: on-market trade, off-market trade, exercise of options,	unitholders on 25 November 2020 was implemented,
issue of securities under dividend reinvestment plan, participation in	resulting in Magellan Global Fund holding all units on
buy-back
issue in Magellan Global Equities Fund (ASX: MGE)
	and Magellan Global Trust (ASX: MGG).

Part 2 - Change of director's interests in contracts

*Units were not disposed, rather acquired resulting in the Magellan Global Fund holding all units in MGG

• See chapter 19 for defined terms. 01/01/2011 Appendix 3Y Page 1

Appendix 3Y

Change of Director's Interest Notice

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder	N/A
(if issued securities)
Date of change	N/A
No. and class of securities to which	N/A
interest related prior to change

Note: Details are only required for a contract in relation to which the interest has changed

Interest acquired	N/A
Interest disposed	N/A
Value/Consideration	N/A
Note: If consideration is non-cash, provide details
and an estimated valuation
Interest after change	N/A
Part 3 - +Closed period
Were the interests in	the securities or contracts detailed	N/A
above traded during a	+closed period where prior written
clearance was required?
If so, was prior written clearance provided to allow the trade	N/A
to proceed during this period?
If prior written clearance was provided, on what date was this	N/A
provided?

15 December 2020

Authorised by

Marcia Venegas | Company Secretary

+ See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011