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GLOBAL MASTERS FUND LIMITED Net Asset Value 2014

Sep 9, 2014

64981_rns_2014-09-09_f341c9d4-ee67-4009-83c3-b0d6e34921fd.pdf

Net Asset Value

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10 September 2014

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

Net Tangible Asset Backing at 31 August 2014

The unaudited NTA of the Company was as follows:

Before estimated After estimated
tax on unrealised tax on unrealised
gains gains
at 31 August 2014 153.44 ¢ 140.12 ¢
at 31 July 2014 145.95 ¢ 134.89 ¢

The NTA per share of Global Masters Fund Limited increased at 31 August 2014 compared to the end of July 2014 largely due to the increase in market value of shares in Berkshire Hathaway shares on NYSE. The Australian investment also gained momentum in August to finish the month higher. These gains were offset by a drop in the value of Athelney Trust listed on LSE at 31 August. The value of the Australian Dollar against the US dollar was much the same at 31 August compared to the previous month-end and was slightly weaker against the UK pound.

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