AMCIL LIMITED — Net Asset Value 2016

Apr 6, 2016

7 April 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 March 2016	90 cents	84 cents
29 February 2016	87 cents	82 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 March 2016.

Yours faithfully

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Andrew Porter Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/03/2016

Valued at closing prices at 31 March 2016

1 BXB Brambles 2 CBA Commonwealth Bank of Australia 3 CSL CSL 4 QUB Qube Holdings 5 TPM TPG Telecom 6 TWE Treasury Wine Estates 7 OSH Oil Search 8 LIC Lifestyle Communities 9 TCL Transurban Group 10 MFT Mainfreight 11 QBE QBE Insurance Group 12 IPL Incitec Pivot 13 JHX James Hardie Industries 14 NAB National Australia Bank 15 JHC Japara Healthcare 16 * BHP BHP Billiton 17 HSO Healthscope 18 CGL The Citadel Group 19 RMD ResMed 20 MYX Mayne Pharma Group As % of Total Portfolio (excludes Cash)	Total Value $ '000 10,302 8,990 8,318 7,613 7,428 7,328 6,999 6,684 6,243 5,901 5,891 5,511 5,447 5,246 5,229 5,057 4,687 4,567 4,458 3,955
	125,852
	57.2%

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

Cash position at 31 March 2016 - $9.2 million