AMCIL LIMITED — Net Asset Value 2017

Dec 5, 2017

6 December 2017

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 2017	95 cents	87 cents
31 October 2017	93 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 30 November 2017.

Yours faithfully

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Matthew Rowe Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 30/11/2017

Valued at closing prices at 30 November 2017

1 BHP BHP 2 WBC Westpac Banking Corporation 3 LIC Lifestyle Communities 4 NAB National Australia Bank 5 CBA Commonwealth Bank of Australia 6 CSL CSL 7 QUB Qube Holdings 8 MFT Mainfreight 9 OSH Oil Search 10 JHX James Hardie Industries 11 TCL Transurban Group 12 AMC Amcor 13 CPU Computershare 14 TWE Treasury Wine Estates 15 CYB CYBG 16 SEK Seek 17 IRE IRESS 18 * WFD Westfield Corporation 19 BXB Brambles 20 FNP Freedom Foods Group As % of Total Portfolio (excludes cash)

Total Value % of $ '000 Portfolio 14,715 6.1% 11,302 4.7% 11,140 4.6% 11,022 4.6% 10,270 4.3% 9,330 3.9% 7,978 3.3% 7,257 3.0% 6,443 2.7% 6,375 2.7% 6,275 2.6% 6,079 2.5% 5,721 2.4% 5,710 2.4% 5,609 2.3% 5,511 2.3% 5,439 2.3% 5,174 2.2% 5,110 2.1% 5,000 2.1% 151,459 63.1%

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

Cash position at 30 November 2017 - $6.4 million