AMCIL LIMITED — Net Asset Value 2017

Nov 1, 2017

2 November 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*
31 October 2017	93 cents	86 cents
30 September 2017	90 cents	85 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 October 2017.

Yours faithfully

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Matthew Rowe Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/10/2017

Valued at closing prices at 31 October 2017

1 BHP BHP 2 NAB National Australia Bank 3 WBC Westpac Banking Corporation 4 LIC Lifestyle Communities 5 CBA Commonwealth Bank of Australia 6 CSL CSL 7 JHX James Hardie Industries 8 QUB Qube Holdings 9 MFT Mainfreight 10 OSH Oil Search 11 TCL Transurban Group 12 TWE Treasury Wine Estates 13 IRE IRESS 14 SEK Seek 15 CPU Computershare 16 CYB CYBG 17 AMC Amcor 18 RIO Rio Tinto 19 IPL Incitec Pivot 20 WES Wesfarmers As % of Total Portfolio (excludes Cash)	Total Value $ '000 13,833 11,084 11,009 10,450 9,202 9,049 7,910 7,767 7,101 6,730 6,065 5,990 5,863 5,485 5,464 5,430 5,250 5,141 4,879 4,744
	148,445
	65.4%

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

Cash position at 31 October 2017 - $18.1 million