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GLOBAL MASTERS FUND LIMITED Net Asset Value 2013

Jan 8, 2013

64981_rns_2013-01-08_92312af8-c7f3-41f3-9ee1-65ca397d6b08.pdf

Net Asset Value

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9 January 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 December 2012

The unaudited NTA of the Company was as follows:

Before estimatedtax on unrealisedgains After estimatedtax on unrealisedgains
at 31 December 2012 96.58 ¢ 96.58 ¢
at 30 November 2012 92.74 ¢ 92.74 ¢

At 31 December 2012, the share prices of the Company’s investments in Berkshire Hathaway (BRK), listed on the NYSE and Flagship Investments Limited ended higher, compared to 30 November 2012. The Australian Dollar weakened against the United States Dollar and British Pound between the end of November 2012 and the end of December 2012. The net result was an increase in the NAV per share of Global Masters Fund Limited at 31 December 2012.

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]

Level 1 12 O’Connell Street Sydney NSW 2000 Australia

www.globalmastersfund.com.au