AMCIL LIMITED — Net Asset Value 2017

Jul 2, 2017

3 July 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	June	2017	95 cents	89 cents
31	May	2017	94 cents	88 cents

*The before and after tax numbers relate to the provision for deferred tax at a rate of 27.5% 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.

These figures are subject to audit.

Attached is a list of the Company’s Top Twenty Investments as at 30 June 2017.

Yours faithfully

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Matthew Rowe Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 30/06/2017

Valued at closing prices at 30 June 2017

1 MFT Mainfreight 2 BHP BHP Billiton 3 LIC Lifestyle Communities 4 CBA Commonwealth Bank of Australia 5 NAB National Australia Bank 6 CSL CSL 7 BXB Brambles 8 QUB Qube Holdings 9 JHX James Hardie Industries 10 WBC Westpac Banking Corporation 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 IPL Incitec Pivot 18 AMC Amcor 19 TPM TPG Telecom 20 AMP AMP As % of Total Portfolio (excludes Cash)	Total Value $ '000 9,981 9,369 9,364 8,843 8,771 8,213 8,039 7,924 7,562 7,336 6,606 6,345 6,036 5,925 5,596 5,527 4,919 4,856 4,557 4,497
	140,264
	60.7%

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

Cash position at 30 June 2017 - $15.0 million