GLOBAL MASTERS FUND LIMITED — Net Asset Value 2013

Aug 11, 2013

9 August 2013

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Company Announcements Office Australian Stock Exchange Exchange Centre Level 6 20 Bridge Street SYDNEY NSW 1215

Net Tangible Asset Backing at 31 July 2013

The unaudited NTA of the Company was as follows:

	Before estimatedtax on unrealisedgains	After estimatedtax on unrealisedgains
at 31 July 2013	127.29 ¢	121.30 ¢
at 30 June 2013	122.77 ¢	118.14 ¢

The rise in NTA at 31 July 2013, compared to 30 June 2013, was a result of an increase in market value of Berkshire Hathaway (BRK) (USA) together with the continued weakening of the Australian Dollar against the US currency. In the UK, Athelney Trust’s (ATY) share price was unchanged but the weaker AU dollar against the GBP resulted in unrealised gains. These gains were slightly offset by a fall in share price of Flagship Investments Limited (FSI) (AU) at 31 July.

For further information please call the Company Secretary on 1300 552 660.

Yours faithfully,

GLOBAL MASTERS FUND LIMITED

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Brian Jones

Company Secretary

Global Masters Fund Limited ABN 84 109 047 618

Tel: +61 1300 552 660 Fax: +61 2 8815 5401 Email: brianj@rothsay.com.au www.globalmastersfund.com.au

Level 1 12 O’Connell Street Sydney NSW 2000 Australia