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GLOBAL MASTERS FUND LIMITED Net Asset Value 2013

Jul 14, 2013

64981_rns_2013-07-14_23f4d38c-966d-456d-9825-4c55703db058.pdf

Net Asset Value

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10 July 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 30 June 2013

The unaudited NTA of the Company was as follows:

Before estimated After estimated
tax on unrealised tax on unrealised
gains gains
at 30 June 2013 122.77 ¢ 118.14 ¢
at 31 May 2013 122.55 ¢ 117.97 ¢

Whilst there was a drop in the market values of Berkshire Hathaway (BRK) (USA) and Flagship Investments Limited (FSI) (AU), the continued weakening of the Australian Dollar resulted in a similar NTA as last month. The market value of Athelney Trust (ATY) (UK) remained the same but the weaker dollar against the GBP resulted in unrealised gains for the Athelney holding.

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: [email protected] www.globalmastersfund.com.au

Level 1 12 O’Connell Street Sydney NSW 2000 Australia