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GLOBAL MASTERS FUND LIMITED Net Asset Value 2013

Apr 4, 2013

64981_rns_2013-04-04_b10bcbc0-9f02-4197-97e3-e75e784a6f6e.pdf

Net Asset Value

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5 April 2013 Company Announcements Office Australian Stock Exchange Exchange Centre Level 6 20 Bridge Street SYDNEY NSW 1215

Net Tangible Asset Backing at 31 March 2013

The unaudited NTA of the Company was as follows:

Before estimatedtax onunrealised gains After estimatedtax onunrealised gains
at 31 March 2013 106.75 ¢ 106.61 ¢
at 28 February 2013 107.08 ¢ 106.82 ¢

The decrease in the NTA between March 2013 and February 2013 was due to a fall in share prices of Australian investments as well as the strengthening of the Australian Dollar against the United States Dollar and the British Pound. An increase in the market value of its investment in Berkshire Hathaway (BRK) helped support the NTA. 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