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GLOBAL MASTERS FUND LIMITED Net Asset Value 2014

Jul 9, 2014

64981_rns_2014-07-09_15bb88b3-aba2-43fb-8816-89cd9e7a4ee3.pdf

Net Asset Value

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10 July 2014

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

Net Tangible Asset Backing at 30 June 2014

The unaudited NTA of the Company was as follows:

Before estimatedtax on unrealisedgains After estimatedtax on unrealisedgains
at 30 June 2014 142.16 ¢ 132.38 ¢
at 31 May 2014 146.67 ¢ 135.45 ¢

The NTA per share of Global Masters Fund Limited decreased slightly at 30 June 2014 compared to the end of May 2014. This was due to a decrease in the share price of Berkshire Hathaway shares on NYSE and a strengthening Australian Dollar during June. The UK and Australian investments also fell during June 2014.

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