AMCIL LIMITED — Net Asset Value 2017

Aug 1, 2017

2 August 2017

The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre 20 Bridge Street Sydney NSW 2000

==> picture [158 x 227] intentionally omitted <==

Electronic Lodgement

Dear Sir / Madam

AMCIL Limited

Monthly Net Tangible Asset Backing Per Share and Top 20 Investments

			Before Tax*	After Tax*
31	July	2017	94 cents	88 cents
30	June	2017	95 cents	89 cents

The Net Tangible Asset Backing per Share for both 30 June and 31 July 2017 are before the provision for the final dividend of 3.5 cents per share.

*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 July 2017.

Yours faithfully

==> picture [107 x 71] intentionally omitted <==

Matthew Rowe Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/07/2017

Valued at closing prices at 31 July 2017

1 BHP BHP 2 LIC Lifestyle Communities 3 MFT Mainfreight 4 CBA Commonwealth Bank of Australia 5 NAB National Australia Bank 6 QUB Qube Holdings 7 BXB Brambles 8 WBC Westpac Banking Corporation 9 CSL CSL 10 JHX James Hardie Industries 11 QBE QBE Insurance Group 12 IRE IRESS 13 OSH Oil Search 14 TCL Transurban Group 15 WES Wesfarmers 16 TWE Treasury Wine Estates 17 AMP AMP 18 AMC Amcor 19 IPL Incitec Pivot 20 * ILU Iluka Resources As % of Total Portfolio (excludes Cash)	Total Value $ '000 10,782 9,410 9,128 8,941 8,884 8,016 7,638 7,608 7,497 7,084 6,632 6,455 5,876 5,705 5,682 5,155 4,665 4,635 4,630 4,468
	138,892
	60.8%

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

Cash position at 31 July 2017 - $16.7 million