diff -ur v38/ezmd.py v39/ezmd.py
--- v38/ezmd.py	2019-10-16 23:04:00.000000000 +0900
+++ v39/ezmd.py	2019-10-17 00:17:00.000000000 +0900
@@ -1,5 +1,6 @@
 #!/usr/bin/env python
 
+import sys
 import subprocess
 import yaml
 import six
@@ -594,6 +595,7 @@
 	outbuf.append( tbls_join( outbuf.pop_tmp() ) )
 
 macro_dic = {}
+macro_exp = []
 
 def macro_dic_update(buf):
 	targ = macro_dic
@@ -782,6 +784,7 @@
 		if e.mode not in ('pre', 'macro'):
 			r = do_macro( [e.s] )
 			(e.s, e.buf) = ( r[0], r[1:] + e.buf )
+		macro_exp.append(e.s)
 		next_mode_switch(e)
 		return e.next_mode != e.mode
 
@@ -844,6 +847,9 @@
 	lst = flat_map( tag_to_dic, lst )
 
 	u8 = yaml_dump(lst)
+	if '-E' in sys.argv:
+		s = '\n'.join(macro_exp)
+		u8 = nkf.str_to(s, '-u')
 	b = nkf.cvt(u8, nkf_opt) if nkf_opt != '-u' else u8
 	nkf.put_stdout(b)
 # EOF