AMCIL LIMITED — Net Asset Value 2015

May 3, 2015

4 May 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 April 2015	95 cents	88 cents
31 March 2015	96 cents	88 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 April 2015.

Yours faithfully,

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Simon Pordage Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 30/04/2015

Valued at closing prices at 30 April 2015

1 CBA Commonwealth Bank of Australia 2 OSH Oil Search 3 BHP BHP Billiton 4 WBC Westpac Banking Corporation 5 TLS Telstra Corporation 6 BXB Brambles 7 NAB National Australia Bank 8 TCL Transurban Group 9 QUB Qube Holdings 10 CSL CSL 11 IPL Incitec Pivot 12 QBE QBE Insurance Group 13 AMP AMP 14 LIC Lifestyle Communities 15 TPM TPG Telecom 16 STO Santos 17 RMD ResMed 18 BKW Brickworks 19 JHC Japara Healthcare 20 TWE Treasury Wine Estates As % of Total Portfolio (excludes Cash)	Total Value $ '000 16,441 14,871 12,930 10,926 10,154 9,422 8,457 7,170 7,051 7,005 6,815 6,620 6,440 6,350 5,856 5,687 5,649 4,234 4,164 3,736
	159,977
	75.7%

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

Cash position at 30 April 2015 - $20.6 million