BENJAMIN HORNIGOLD LIMITED — Net Asset Value 2018

Jun 13, 2018

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Benjamin Hornigold Ltd ACN 614 854 045

ASX Announcement (ASX: BHD)

14 June 2018

Unadjusted net tangible asset backing

Benjamin Hornigold Ltd (ASX: BHD) ( Company ) advises that the indicative estimate[1 ] of the unadjusted net tangible assets ( NTA ) of the Company’s investment portfolio as at 31 May 2018 is as follows:

$1.053 NTA backing before tax[2] : $1.022 NTA backing after tax: 26.3% NTA performance following the Company’s admission on 11 May 2017 before the application of taxes and other adjustments:

Stuart McAuliffe, Chief Investment Officer, said, “Euro and British Pound currency exposure pulled us back for the month, but we believe both currencies are beginning to adjust monetary policy similar to the Federal Reserve. That said, we believe interest rates globally remain low and economic conditions continue to be relatively positive.”

ENDS

Kevin Mischewski Company Secretary Benjamin Hornigold Ltd cosec@benjaminhornigold.com.au

1 The estimate may not include the impact of all corporate actions for the month-to-date. The estimate is after accrued performance fees, based primarily on internal data and should not be relied upon as being accurate.

2 Provisions for tax on realised and unrealised profits and gains have not been included in the calculation of NTA backing before tax.