Barramundi Limited — Net Asset Value 2026

May 1, 2026

Barramundi Limited
Phone +64 9 489 7074
Private Bag 93502
Takapuna, Auckland

BRM undiluted NAV as at 30/4/26 - $0.5453

Date	30/4/2026	29/4/2026
BRM undiluted NAV	$0.5453	$0.5415
Share price close	$0.5600	$0.5610
(Premium)	(3%)	(4%)

The above net asset value (NAV) is unaudited and net of fees and tax.

The NAV per share is calculated after deducting treasury stock (shares acquired under the Barramundi buyback programme) - currently nil.

• The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (BRMWI). At 30 April 2026, 85,179,108 warrants are on issue and may be exercised on 7 August 2026. The actual exercise price of each warrant is $0.70 less the dividends per share declared by the company with a record date between 7 August 2025 and the announcement of the 7 August 2026 exercise price. Dividends totalling 4.12 cents per share have been declared to date and there is one more dividend expected to be declared in the remaining period up to the announcement of the 7 August 2026 exercise price.

The five largest portfolio holdings at 30 April 2026 are approximately as follows:

WiseTech 7%
Macquarie Group 6%
Xero 6%
BHP Group 6%
CAR Group 5%

BACKGROUND

Barramundi is a listed investment company that invests in growing Australian companies. The Barramundi portfolio is managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in growth company shares. The aim of Barramundi is to offer investors competitive returns through capital growth and dividends, and access to a diversified portfolio of investments through a single tax-efficient investment vehicle. Barramundi listed on the NZX Main Board on 26 October 2006 and may invest in companies that are listed on an Australian stock exchange or unlisted companies.

Contact
Corporate Manager
Barramundi Limited
Tel +64 9 4840352