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GLOBAL MASTERS FUND LIMITED Net Asset Value 2014

Mar 19, 2014

64981_rns_2014-03-19_ca621ad9-697b-4b8e-ba0f-7367684b99a3.pdf

Net Asset Value

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5 March 2014

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

Net Tangible Asset Backing at 28 February 2014

The unaudited NTA of the Company was as follows:

Before estimatedtax on unrealisedgains After estimatedtax on unrealisedgains
at 28 Feb 2014 139.42 ¢ 130.19 ¢
at 31 Jan 2014 134.97 ¢ 127.07 ¢

The NTA per share of Global Masters Fund Limited at 28 February 2014 increased compared to previous month-end. Berkshire Hathaway shares increased net value at month end in spite of the value of the AUD against USD at 28 February being slightly stronger. The value of the other investments increased as well compared to previous month-end.

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