Kingfish Limited — Net Asset Value 2018

Mar 22, 2018

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Kingfish Limited Phone +64 9 489 7094 Fax +64 9 489 7139 Private Bag 93502 Takapuna, Auckland

KFL NAV as at 21/3/18 - $1.4645

Date	21/3/2018	14/3/2018
KFL NAV	$1.4645	$1.4316
Share price close	$1.32	$1.33
Discount	10%	7%

The above net asset value (NAV) is unaudited and net of fees and tax.

The NAV per share is also calculated after deducting treasury stock of 823,636 shares (acquired under the Kingfish buyback programme). A performance fee payable to the Manager is currently being accrued in the NAV.

The five largest portfolio holdings at 21 March 2018 are approximately as follows:

Fisher & Paykel Healthcare	12%
Mainfreight	12%
Freightways	9%
The a2 Milk Company	8%
Ryman Healthcare	7%

BACKGROUND

Kingfish is a listed investment company that invests in growing New Zealand companies. The Kingfish portfolio is managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in growth company shares. The aim of Kingfish is to offer investors competitive returns through capital growth and dividends, and access to a diversified portfolio of investments through a single tax-efficient investment vehicle. Kingfish listed on NZX Main Board on 31 March 2004 and may invest in companies that are listed on a New Zealand stock exchange or unlisted companies.

Contact Corporate Manager Kingfish Limited Tel +64 9 4840352