AMCIL LIMITED — Net Asset Value 2022

Jan 5, 2022

6 January 2022

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	December	2021	134 cents	117 cents
30	November	2021	131 cents	115 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.

These figures are subject to external review by the auditors.

Attached is a list of the Company’s Top Twenty Investments as at 31 December 2021.

Yours faithfully

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Matthew Rowe Company Secretary

Release authorised by the Company Secretary

AMCIL LIMITED

TOP 20 INVESTMENTS AS AT 31/12/2021

Valued at closing prices at 31 December 2021

1 CSL CSL 2 MFT Mainfreight 3 BHP BHP Group 4 MQG Macquarie Group 5 WES Wesfarmers 6 TCL Transurban Group 7 GMG Goodman Group 8 JHX James Hardie Industries 9 IRE IRESS 10 WOW Woolworths Group 11 MAQ Macquarie Telecom Group 12 ARB ARB Corporation 13 FCL FINEOS 14 WBC Westpac Banking Corporation 15 ASX ASX 16 RMD Resmed 17 REH Reece 18 CAR Carsales.Com 19 PXA PEXA Group 20 CBA Commonwealth Bank of Australia As % of Total Portfolio Value (excludes Cash)

Total Value $ million 33.4 8.2% 30.1 7.3% 22.2 5.4% 21.9 5.4% 21.1 5.1% 17.5 4.3% 16.1 3.9% 14.7 3.6% 14.6 3.6% 14.4 3.5% 13.5 3.3% 12.3 3.0% 11.9 2.9% 11.5 2.8% 10.5 2.6% 10.4 2.5% 9.8 2.4% 9.3 2.3% 9.0 2.2% 8.9 2.2% 313.0 76.5%