GLOBAL MASTERS FUND LIMITED — Director's Dealing 2017

Nov 6, 2017

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity: GLOBAL MASTERS FUND LIMITED

ABN 84 109 047 618

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Emmanuel Clive Pohl
Date of last notice	11 June 2010

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct & Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Director of a funds management companywith a Power of Attorney provided to E CPohl
Date of change	1 November 2017
No. of securities held prior to change	Direct = 5,000Indirect = 4,604,049
Class	Ordinary Shares
Number acquired	Direct = 1,250Indirect=1,151,012
Number disposed	Nil
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	Direct = $2,500.00Indirect = $2,302,024.00
No. of securities held after change	Direct = 6,250Indirect=5,755,061
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Exercise of renounceable rights issue

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

==> picture [434 x 331] intentionally omitted <==

----- Start of picture text ----- Detail of contract N/ANature of interestName of registered holder(if issued securities)Date of changeNo. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changedInterest acquiredInterest disposedValue/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuationInterest after change----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002