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GLOBAL MASTERS FUND LIMITED Net Asset Value 2015

Mar 15, 2015

64981_rns_2015-03-15_27349340-7d9d-4d03-8cb4-59a4bca43b82.pdf

Net Asset Value

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10 March 2015

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

Net Tangible Asset (NTA) backing at 28 February 2015

The unaudited NTA of the Company was as follows:

Before estimated After estimated
tax on unrealised tax on unrealised
gains gains
at 28 February 2015 175.58 ¢ 156.07 ¢
at 31 January 2015 172.04 ¢ 153.59 ¢

The increase in NTA per share at 28 February 2015, compared to the previous month was largely a result of an increase in the share prices of Berkshire Hathaway (BRK) and FSI at 28 February 2015 compared to the previous month.The weakening Australian Dollar during the month also contributed to the increase in NTA.

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