AMCIL LIMITED — Net Asset Value 2015

Dec 2, 2015

3 December 2015

The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre 20 Bridge Street Sydney NSW 2000

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Electronic Lodgement

Dear Sir / Madam

AMCIL Limited

Monthly Net Tangible Asset Backing Per Share and Top 20 Investments

	Before Tax*	After Tax*
30 November 2015	92 cents	85 cents
31 October 2015	90 cents	84 cents

*The before and after tax numbers relate to the provision for deferred tax on the unrealised gains in the Company’s investment portfolio. The Company is a long term investor and does not intend disposing of its total long term investment portfolio. Under current Accounting Standards, the Company is required to provide for tax on any gains that may arise on such a theoretical disposal, after the utilisation of any brought forward losses.

Attached is a list of the Company’s Top Twenty Investments as at 30 November 2015.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 30/11/2015

Valued at closing prices at 30 November 2015

1* CBA Commonwealth Bank of Australia2* OSH Oil Search3BXB Brambles4CSL CSL5* TLS Telstra Corporation6QUB Qube Holdings7TPM TPG Telecom8* NAB National Australia Bank9QBE QBE Insurance Group10LIC Lifestyle Communities11* IPL Incitec Pivot12TWE Treasury Wine Estates13TCL Transurban Group14* BHP BHP Billiton15JHC Japara Healthcare16CGL The Citadel Group17RMD ResMed18MFT Mainfreight19OFX OzForex Group20SHL Sonic HealthcareAs % of Total Portfolio(excludes Cash)	Total Value$ '00012,25812,0429,6138,2097,2527,2006,7666,7466,7346,5506,5215,7545,7045,4275,4055,0004,9984,5814,3864,269
	135,413
	59.3%

• Indicates that options were outstanding against part of the holding.