AMCIL LIMITED — AGM Information 2009

Sep 27, 2009

28 September 2009

The Manager Company Announcements Office Australian Securities Exchange Limited Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000

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Electronic Lodgement

AMCIL Limited 2009 Annual General Meeting Chairman’s Presentation

Dear Sir or Madam

AMCIL Limited Chairman, Mr Bruce Teele, will deliver the following presentation to shareholders at the Company’s Annual General Meeting to be held today.

Yours faithfully,

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Simon Pordage Company Secretary

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AMCIL Annual General Meeting 28 September 2009 Presentation

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Total Profit Since Recapitalisation

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$Million
16
13.9
14
12
10 9.3
10.7
8
5.1
6
4.6
4 3.3 0.8
2.6
1.5
2 1.0 4.2
3.8
0.2 3.2
0.6
1.6 1.8
0.4
0
2004 2005 2006 2007 2008 2009
Net Operating Profit After Tax Profit After Tax (including realised gains)
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*** Includes a charge of $5.1 million for unrealised losses transferred from the revaluation reserve for impairment.**

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Dividends

• 2 cents per share fully franked (3 cents last year)

Dividend Policy

• Maximise the distribution of the franking account balance subject to the level of profit for the year

• It is not be normal practice to distribute realised capital gains unless franking credits have been generated

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Portfolio at 30 June

$Million

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160
141.2
140
16.6 121.3
120
18.0 106.4
100
22.0
80 71.5
60 52.3 124.6
44.6
103.3
8.5
40 84.4
71.5
25.8
20 43.8
18.8
0
2004 2005 2006 2007 2008 2009
Portfolio Value Cash
New Capital of $39.1 million raised in 2007 as a result of the exercise of outstanding options
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Portfolio

At 31 August 2009:

� 39 companies with a market value $110.6m

• $12.1 million of cash

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AMCIL Top 20 Holdings – 31 August 2009

1 Westpac Banking Corporation 2 Commonwealth Bank of Australia

*** 3 National Australia Bank 4 BHP Billiton 5 Telstra Corporation 6 Hastings Diversified Utilities Fund 7 QBE Insurance Group 8 Bradken 9 AMP 10 Tox Free Solutions**

$ ’000 8,945 7,652 7,631 7,360 6,690 5,579 5,148 4,732 4,186 4,105

• Indicates that options were outstanding against part of the holding

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AMCIL Top 20 Holdings – 31 August 2009

11 Amcor 12 Peet 13 ASG Group 14 Equity Trustees 15 Mitchell Communication Group 16 Brambles 17 Coca-Cola Amatil 18 Oil Search 19 REA Group 20 Oakton Total As % of Total Portfolio (excludes Cash and Bank Bills)	$ ’000 3,938 3,844 3,235 3,216 2,950 2,851 2,725 2,536 2,434 2,185
	91,943
	83.1%

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Largest 5 Acquisitions - (1/7/08-30/6/09)

$m Westpac Banking Corporation 4.9 Commonwealth Bank of Australia 3.5 QBE Insurance Group 3.3 Iluka Resources 1.6 National Australia Bank 1.5

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Largest 5 Disposals - (1/7/08 to 30/6/09)

$m Queensland Gas 11.5 ConnectEast Group 3.8 Rio Tinto 3.5 BHP Billiton 2.7 News Corporation 1.4

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Major Purchases Since 30 June 2009

Existing Stocks:

� PrimeAg Australia

• Amcor

• Westpac

• National Australia Bank

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Major Purchases Since 30 June 2009 con’t.

New Stocks :

• –

• Hastings Diversified Utilities investor in utility infrastructure assets, primarily gas transmission pipelines in Australia (Epic Energy Holdings)

� Perpetual – funds management and wealth management provider

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Major Sales Since 30 June 2009

� Diversified United Investment Limited

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Total Portfolio Return – % Per Year to 31 August 2009
20%
14.9%
15%
10.9%
10%
5.6%
5%
0%
1 year return return since recapitalisation in
-5% January 2004
-10% -8.1%
AMCIL return on capital S&P/ASX 200 Accumulation Index
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*measured by return on capital as measured by the change in net asset backing plus reinvested dividends and adjusting for the additional cash received during the period from the exercise of options

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Share Price Relative to Net Asset Backing

15% Premium 10% 5% 0% -5% -10% Discount -15%

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Outlook

• We have selectively tried to capture value through this turbulent period primarily from participation in capital raisings.

• Markets have improved dramatically since their lows with valuations now more in line with long term averages

• Companies that survived are generally well placed given improved balance sheets and their reduced cost bases

• Economic conditions are improving but the level of growth and how long it will last is less clear

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Annual General Meeting

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