L1 GROUP LIMITED — AGM Information 2011

Sep 28, 2011

ABN 13 050 064 287

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All Correspondence to: Computershare Investor Services Pty Limited GPO Box 242 Melbourne Victoria 3001 Australia Enquiries (within Australia) 1300 855 080 (outside Australia) 61 3 9415 4000 Facsimile 61 3 9473 2555 www.computershare.com

Dear Shareholder

I am pleased to invite you to the Annual General Meeting ("AGM") of Platinum Asset Management Limited (the "Company"), which will take place at 10.00am (AEDT) on Thursday, 3 November 2011 at The Menzies Hotel (Sydney Room), 14 Carrington Street, Sydney, NSW.

Enclosed is the Notice of Meeting setting out the terms of business.

If you decide to attend the meeting, please bring this letter with you to facilitate registration prior to the meeting.

If you are unable to attend the meeting, you may appoint a proxy. You can do so by completing the enclosed Proxy Form and posting it in the enclosed reply paid envelope (for Australian residents only) or faxing it (+61 3 9473 2555) to the Company’s Share Registrar. Alternatively, you can appoint a proxy online at www.investorvote.com.au. You must appoint your proxy (online or by returning the Proxy Form to the Company’s Share Registrar) so that it is received no later than 10:00am (AEDT) on Tuesday, 1 November 2011.

Corporate shareholders may appoint an individual representative to attend the AGM on the corporate entity’s behalf. Such representatives must bring their authority of appointment to the AGM. An “Appointment of Corporate Representative” form is available from the Company’s Share Registrar or print the form from www.investorcentre.com (select the “Downloadable Forms” section under the “Information” tab).

You may submit questions in advance of the meeting by eMailing invest@platinum.com.au.

Yours faithfully

P Howard Company Secretary 28 September 2011

916CR_0_Sample_Proxy/000001/000001

ABN 13 050 064 287

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NOTICE OF MEETING

Notice is given that the Annual General Meeting (“AGM”) of Platinum Asset Management Limited (the “Company”) will be held in the Sydney Room at The Menzies Hotel, 14 Carrington Street, Sydney, NSW on Thursday, 3 November 2011 commencing at 10:00am (AEDT). The following business will be conducted:

1. Financial and Statutory Reports

To receive and consider the financial report of the Company and the reports of the Directors and of the auditor for the year ended 30 June 2011.

Note: This matter is not voted on.

2. Adoption of the Remuneration Report

To consider and, if thought fit, to pass the following resolution:

'That the remuneration report of the Company for the year ended 30 June 2011 is adopted.’

Note: This is a non-binding vote.

3. Re-appointment of Bruce Coleman as a Director

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

'That Bruce Coleman, retiring from the office of Director in accordance with rule 3.6(c) of the Company’s Constitution and being eligible, is re-appointed as a Director of the Company.’

4. Re-appointment of Philip Howard as a Director

To consider and, if thought fit, to pass the following resolution as an ordinary resolution:

'That Philip Howard, retiring from the office of Director in accordance with rule 3.3 of the Company’s Constitution and being eligible, is re-appointed as a Director of the Company.’

Voting Exclusion Statement

The Company will disregard any votes cast on Item 2 by Key Management Personnel and their closelyrelated parties.

The Key Management Personnel of the Company are set out in the Remuneration Report.

However, the Company need not disregard a vote if:

• it is cast by a person including Key Management Personnel as proxy for a person who is entitled to vote in accordance with the directions on the proxy form; or

• it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with the direction on the proxy form to vote as the proxy decides.

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Entitlement to attend and vote at the AGM

The Company has determined that for the purposes of ascertaining entitlements to attend and vote at the AGM, the shares in the Company on issue as at 7:00pm (AEDT) on Tuesday, 1 November 2011 will be taken, for the purpose of the AGM, to be held by the persons who hold them as registered members (“shareholders”) at that time.

Proxies

A shareholder, who is entitled to attend and vote at the AGM, may appoint a proxy to attend and vote at the AGM on the shareholder's behalf. A proxy may be an individual or body corporate and is not required to be a shareholder of the Company. A shareholder, who is entitled to cast two or more votes at the AGM, may appoint two proxies and may specify the percentage or number of votes each proxy is appointed to exercise. Where a shareholder appoints two proxies but does not specify the percentage or number of votes each proxy may exercise, each proxy may exercise half of the appointing shareholder’s votes. Fractions of votes will be disregarded.

A shareholder may direct the shareholder’s proxy on how to vote on the proposed resolutions by following the instructions on the Proxy Form that accompanies this Notice of Meeting. If the shareholder appointing the proxy directs the proxy on how to vote on a proposed resolution, then the proxy may only vote in the way directed. If the shareholder does not direct the proxy on how to vote on a proposed resolution, then the proxy may vote on that resolution as the proxy thinks fit.

If you wish to appoint a proxy, you must complete the Proxy Form accompanying this Notice of Meeting and return it in the enclosed reply paid envelope (for Australian residents only) to the Company’s Share Registrar or by facsimile to (03) 9473 2555 or by completing the proxy appointment online at

www.investorvote.com.au. The Proxy Form must be received by Computershare or the Company by no later than 10:00am (AEDT) on Tuesday, 1 November 2011. Proxies received after that time will not be effective for the AGM.

Corporate Representatives

A body corporate which is a shareholder or has been appointed as a proxy of a shareholder, may appoint an individual to act as its representative at the AGM. The appointment must comply with the requirements of section 250D of the Corporations Act 2001(Cth). An “Appointment of Corporate Representative” form is available from the Company’s Share Registrar (phone 1300 855 080 or +61 3 9415 4000) or online at www.investorcentre.com (select the “Downloadable Forms” section under the “Information” tab). The representative must bring to the AGM the completed form or evidence of his or her appointment (including the authority under which the appointment is signed).

Shareholder Questions

Questions that are relevant to the business of the AGM (as outlined in this Notice of Meeting) and to be addressed at the AGM can be eMailed to invest@platinum.com.au.

By the order of the Board

P Howard Company Secretary 28 September 2011

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ABN 13 050 064 287

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Lodge your vote:

 Online:

www.investorvote.com.au



By Mail:

Computershare Investor Services Pty Limited GPO Box 242 Melbourne Victoria 3001 Australia

Alternatively you can fax your form to (within Australia) 1800 783 447 (outside Australia) +61 3 9473 2555

For Intermediary Online subscribers only (custodians) www.intermediaryonline.com

For all enquiries call:

(within Australia) 1300 850 505 (outside Australia) +61 3 9415 4000

Proxy Form



Vote online or view the annual report, 24 hours a day, 7 days a week:

www.investorvote.com.au

Your secure access information is: Cast your proxy vote Control Number: Access the annual report SRN/HIN:  PLEASE NOTE: For security reasons it is important that you keep your Review and update your shareholding SRN/HIN confidential.

 For your vote to be effective it must be received by 10:00am (AEDT) on Tuesday, 1 November 2011.

How to Vote on Items of Business

All your shares will be voted in accordance with your directions.

Appointment of Proxy

Voting 100% of your holding: Direct your proxy how to vote by marking one of the boxes opposite each item of business. If you do not mark a box, your proxy may vote as they choose. If you mark more than one box on an item, your vote will be invalid on that item.

Voting a portion of your holding: Indicate a portion of your voting rights by inserting the percentage or number of shares you wish to vote in the For, Against or Abstain box or boxes. The sum of the votes cast must not exceed your voting entitlement or 100%.

Appointing a second proxy: You are entitled to appoint up to two proxies to attend the meeting and vote on a poll. If you appoint two proxies, you must specify the percentage of votes or number of shares for each proxy, otherwise each proxy may exercise half of the votes. When appointing a second proxy, write both names and the percentage of votes or number of shares for each in Step 1 overleaf.

A proxy need not be a shareholder of the Company.

Signing Instructions for Postal Forms

Individual: Where the holding is in one name, the shareholder must sign.

Joint Holding: Where the holding is in more than one name, all of the shareholders should sign.

Power of Attorney: If you have not already lodged the Power of Attorney with the registry, please attach a certified photocopy of the Power of Attorney to this form when you return it.

Companies: Where the company has a Sole Director, who is also the Sole Company Secretary, this form must be signed by that person. If the company (pursuant to section 204A of the Corporations Act 2001) does not have a Company Secretary, a Sole Director can also sign alone. Otherwise this form must be signed by a Director jointly with either another Director or a Company Secretary. Please sign in the appropriate place to indicate the office held.

Attending the Meeting

Bring this form to assist registration. If a representative of a corporate shareholder or proxy is to attend the meeting, you will need to provide the appropriate “Certificate of Appointment of Corporate Representative” prior to admission. A form of the certificate may be obtained from Computershare or online at www.investorcentre.com under the information tab "Downloadable Forms".

Comments & Questions: If you have any comments or questions for the company, please write them on a separate sheet of paper and return with this form or eMail invest@platinum.com.au.

GO ONLINE TO VOTE,  or turn over to complete the form

916CR_0_Sample_Proxy/000001/000002

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Change of address. If incorrect, mark this box and make the correction in the space to the left. Shareholders sponsored by a broker (reference number commences with ’ X ’) should advise your broker of any changes.

Proxy Form

Please mark to indicate your directions

Appoint a Proxy to Vote on Your Behalf

I/We being a member/s of Platinum Asset Management Limited hereby appoint

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the Chairman OR of the Meeting

XX  PLEASE NOTE: Leave this box blank if you have selected the Chairman of the Meeting. Do not insert your own name(s).

or failing the individual or body corporate named, or if no individual or body corporate is named, the Chairman of the Meeting, as my/our proxy to act generally at the meeting on my/our behalf and to vote in accordance with the following directions (or if no directions have been given, as the proxy sees fit) at the Annual General Meeting of Platinum Asset Management Limited to be held in the Sydney Room at The Menzies Hotel, 14 Carrington Street, Sydney, NSW on Thursday, 3 November 2011 at 10:00am (AEDT) and at any adjournment of that meeting.

Important for Item 2: If the Chairman of the Meeting is your proxy and you have not directed him/her how to vote on Item 2 below, the Chairman of the Meeting will not cast your votes on Item 2 and your votes will not be counted in computing the required majority if a poll is called on this item.

If the Chairman of the Meeting is your proxy and you wish him/her to cast your votes on Item 2 below, please direct him/her how to vote by ticking either ’For’ or ’Against’ in the boxes for Item 2 below.

 PLEASE NOTE: If you mark the Abstain box for an item, you are directing your proxy not to vote on your Items of Business behalf on a show of hands or a poll and your votes will not be counted in computing the required majority.

ORDINARY BUSINESS

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• 1 Is not to be voted on

• 2 Adoption of the Remuneration Report

• 3 Re-appointment of Bruce Coleman as a Director

• 4 Re-appointment of Philip Howard as a Director

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The Chairman of the Meeting intends to vote undirected proxies in favour of each item of business, except for Item 2. The Chairman of the Meeting is prohibited from voting undirected proxies in Item 2.

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SIGN
Signature of Shareholder(s) This section must be completed.
Individual or Shareholder 1 Shareholder 2 Shareholder 3
Sole Director and Sole Company Secretary Director Director/Company Secretary
Contact
Contact Daytime
Name Telephone Date / /
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