KEYBRIDGE CAPITAL LIMITED — Net Asset Value 2015

Jul 20, 2015

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21 July 2015

The Manager ASX Markets Announcements Australian Securities Exchange Exchange Centre Level 4, 20 Bridge Street Sydney NSW 2000

Via Electronic Lodgement

Monthly Net Asset Value Per Share – June 2015

Date	Unaudited NAV per**share after tax **
30 June2015	20.2cents*
31 May2015	21.1 cents**

• Based on 159,354,286 quoted shares on issue

• ** Based on 159,711,014 quoted shares on issue and restated for the capital return made 30 June 15 of 2.78 cents a share

As at 30 June 2015, the value of Keybridge’s investments by asset class was as follows:

	**June **	2015	**May **	2015
	AUD	% of total	AUD	% of total
	**million **		**million **
Cash	2.3	6%	2.5	6%
ListedEquity	14.7	37%	14.0	36%
Infrastructure	6.7	17%	6.6	17%
PrivateEquity	6.5	16%	6.5	16%
FundsManagement	3.8	10%	3.8	10%
Insurance#	3.1	8%	3.5	9%
Property	2.3	6%	2.3	6%
	39.4	100%	39.3	100%
ShortTerm-Liabilities##	2.2		1.1
Convertible Redeemable PromissoryNotes	5.0		-
Net Assets	32.2		38.2

Value has declined as a result of a repayment of AUD221K and FX

Includes new accruals for legal expenses relating to ongoing litigation

Currency Exposure

The breakdown of Keybridge’s net currency exposure, as a percentage of total NAV (Australian Dollar equivalent) is as follows:

equivalent) is as follows:
	Net Foreign Currency
	Assets % of NAV
Australian Dollars	76%
Euros	14%
USDollars	8%
New ZealandDollars	2%

This net foreign currency asset position means that Keybridge incurs translation losses when the Australian Dollar appreciates in value against the US Dollar, Euro and NZ Dollar.

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Dividend Guidance

Keybridge intends to pay 100% of its remaining FY15 income to shareholders as a fully franked dividend. Based on the current unaudited accounts, it is anticipated that the final dividend will be approximately in line with the interim dividend of 0.25c fully franked per share.

Investments By Asset Class

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----- Start of picture text ----- FundsCashManagement 6%10%PropertyInfrastructure6%17%Insurance8%Private Equity16%Listed Equity37%----- End of picture text -----

Keybridge Capital is a financial services company that has invested in, or lent to, transactions which predominantly are in the core asset classes of funds management, infrastructure, listed equity, private equity, insurance, property and lending.

For further information, please contact:

Adrian Martin

Chief Financial Officer Tel: +61 2 8622 6692 Email: amartin@keybridge.com.au www.keybridge.com.au