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GLOBAL MASTERS FUND LIMITED Net Asset Value 2016

Feb 9, 2016

64981_rns_2016-02-09_b5e81e1b-7acf-4d1c-b855-8ea975e07e92.pdf

Net Asset Value

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10 February 2016

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

Net Tangible Asset (NTA) backing at 31 January 2016

The unaudited NTA of the Company was as follows:

Before estimatedtax on unrealisedgains After estimatedtax on unrealisedgains
at 31 January 2016 170.52 ¢ 153.23 ¢
at 31 December 2015 170.31 ¢ 153.03 ¢

The NTA per share at 31 January 2016 remained much the same as at 31 December 2015.

The share prices of Berkshire Hathaway (BRK) on NYSE were slightly down at 31 January 2016 but the Australian Dollar weakened and the result was an increase in the value of BRK investment in Australian dollar terms. Against this however, there was a decrease in share prices of Althelney Trust on LSE and Flagship share on ASX.

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