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GLOBAL MASTERS FUND LIMITED Net Asset Value 2015

Jul 8, 2015

64981_rns_2015-07-08_f316cdd7-24a9-4ad8-bfae-efe041c64f98.pdf

Net Asset Value

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9 July 2015

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

Net Tangible Asset Backing at 30 June 2015

The unaudited NTA of the Company was as follows:

Before estimatedtax on unrealisedgains After estimatedtax on unrealisedgains
at 30 June 2015 166.52 ¢ 149.96 ¢
at 31 May 2015 173.03 ¢ 154.55 ¢

The decrease in NTA per share of Global Masters Fund Limited at 30 June 2015 compared to 31 May 2015 was mainly due to decrease in the share price of Berkshire Hathaway shares on NYSE and a slight strengthening Australian Dollar at 30 June 2015. In addition, the value of the Australian investments fell during June 2015. Against these weaknesses evident in June 2015, the value of the Athelney Trust investment on London Stock Exchange increased.

Global Masters Fund Limited has enjoyed growth in its NTA in excess of 13 % compared to 30 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