AMCIL LIMITED — Net Asset Value 2016

Jun 1, 2016

2 June 2016

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*
31	May	2016	96 cents	89 cents
30	April	2016	92 cents	86 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 31 May 2016.

Yours faithfully

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Andrew Porter Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/05/2016

Valued at closing prices at 31 May 2016

1 BXB Brambles 2 CSL CSL 3 CBA Commonwealth Bank of Australia 4 TPM TPG Telecom 5 TWE Treasury Wine Estates 6 LIC Lifestyle Communities 7 QUB Qube Holdings 8 OSH Oil Search 9 MFT Mainfreight 10 QBE QBE Insurance Group 11 JHX James Hardie Industries 12 TCL Transurban Group 13 IPL Incitec Pivot 14 JHC Japara Healthcare 15 HSO Healthscope 16 NAB National Australia Bank 17 CGL The Citadel Group 18 VOC Vocus Communications 19 CSV CSG 20 MYX Mayne Pharma Group As % of Total Portfolio (excludes Cash)	Total Value $ '000 10,879 9,492 9,292 8,070 7,860 7,627 7,080 7,066 6,951 6,718 6,429 6,326 5,960 5,305 5,286 5,159 4,550 4,329 4,241 4,178
	132,798
	56.4%

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

Cash position at 31 May 2016 - $10.3 million