LION SELECTION GROUP LIMITED. — Net Asset Value 2020

Oct 11, 2020

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ASX RELEASE: LSX

Net Tangible Asset Backing

Net Tangible Asset Backing

Lion Selection Group Limited (Lion) advises that the unaudited net tangible asset backing of Lion as at 30 September 2020 is 63.7 cents per share (after tax).

Commodity August 2020 A$M Pani Joint Venture Gold 60.7  The fair value of Lion’s interest in the Pani Joint Venture increased to A$60.7M at 31 July 2020. This increase reflects the sustained escalation in gold prices from the time of the most recent arm’s length transaction in November 20181. Portfolio Nusantara Resources Gold 14.2 Erdene Resources Gold 5.9 Sihayo Gold Gold 1.9 Celamin Holdings Phosphate 1.1 Other 0.6  Portfolio holdings measured at fair value  Includes investments held directly by Lion and the value to Lion of investments held by African Lion. Net Cash 10.4	September 2020 A$M ¢ps 60.7 40.5 15.5 10.4 5.3 3.5 1.8 1.2 1.2 0.8 0.6 0.3 10.5 7.0
Net Tangible Assets A$94.8m	A$95.6m 63.7¢ps
Capital Structure Shares on Issue: 150,141,271 Share Price: 50¢ps 30 September 2020

1 Lion Selection Group ASX Announcement 4 August 2020, Pani Update and Valuation Revision

Authorised for release by: Craig Smyth E: csmyth@lsg.com.au Page 1 of 1

Lion Selection Group Limited ABN 26 077 729 572 Level 2, 175 Flinders Lane, Melbourne Vic 3000 T: +61 3 9614 8008 www.lsg.com.au ASX RELEASE – October 2020