AMCIL LIMITED — Net Asset Value 2017

Mar 1, 2017

2 March 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*
28	February	2017	91 cents	85 cents
31	January	2017	92 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 28 February 2017.

Yours faithfully

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Matthew Rowe Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 28/02/2017

Valued at closing prices at 28 February 2017

			Total Value
			$ '000
1	*	NAB National Australia Bank	10,168
2		LIC Lifestyle Communities	9,766
3	*	CSL CSL	9,418
4		MFT Mainfreight	8,958
5	*	CBA Commonwealth Bank of Australia	7,970
6		BXB Brambles	7,029
7	*	JHX James Hardie Industries	6,705
8		QBE QBE Insurance Group	6,647
9	*	QUB Qube Holdings	6,344
10	*	OSH Oil Search	5,914
11	*	WES Wesfarmers	5,911
12		MYX Mayne Pharma Group	5,900
13	*	IPL Incitec Pivot	5,670
14	*	TCL Transurban Group	5,501
15		AMA AMA Group	5,151
16	*	TWE Treasury Wine Estates	5,037
17		WLL Wellcom Group	5,025
18	*	TPM TPG Telecom	5,017
19	*	BHP BHP Billiton	4,879
20	*	AMC Amcor	4,250
			131,260
		As % of Total Portfolio	59.7%
		(excludes Cash)

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

Cash position at 28 February 2017 - $17.5 million