EXCELSIOR CAPITAL LTD — Net Asset Value 2019

Mar 25, 2019

Excelsior Capital Limited ABN 98 050 542 553 18-20 Railway Road, Meadowbank, NSW 2114, Australia Postal address: PO Box R281 Royal Exchange NSW 1225 Telephone: (02) 9807 6155 Facsimile: (02) 9808 4155

26 March 2019

Australian Securities Exchange Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Net Tangible Assets (NTA) backing per share for Excelsior Capital Limited as at 28 February 2019:

NTA of Investment Portfolio	59.10c
NTA of CMI Electrical Division*	57.67c
NTAofConsolidated Group	116.77c

• The calculation of the NTA backing per share (after tax) for the Electrical Division is based on the Annual Report of Excelsior Capital Limited for the Year Ended 30 June 2018, adjusted for the final dividend of $941,021 paid in October 2018, and the recent off-market buy-back of 2,372,902 shares for $3,416,979. The funding for the buy-back was split between the Investment Portfolio of $1.2 million, with the balance being funded from the Electrical Division.

For further information, please contact:

Michael Glennon Executive Chairman +61 (2) 8027 1000

About Excelsior (ASX: ECL): Excelsior is a listed Investment Entity, originally established in 1991, and listed on the ASX in 1993. Excelsior Capital Limited’s operations comprise the design and distribution of electrical components and cables for resource and infrastructure applications through its Electrical Division and a substantial investment portfolio.