LION SELECTION GROUP LIMITED. — Net Asset Value 2021

Feb 10, 2021

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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 31 January 2021 is 61.4 cents per share (after tax).

Commodity December 2020 A$M Pani Joint Venture Gold 61.6  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. An additional $0.9M has been invested subsequently. Portfolio Nusantara Resources Gold 14.2 Erdene Resources Gold 4.5 Sihayo Gold Gold 1.4 Celamin Holdings Phosphate 1.1 Other 0.7  Portfolio holdings measured at fair value  Includes investments held directly by Lion and the value to Lion of investments held by African Lion. Net Cash 9.0	January 2021 A$M ¢ps 61.6 41.0 14.0 9.3 4.7 3.1 1.3 0.9 1.1 0.7 0.7 0.5 8.8 5.9
Net Tangible Assets A$92.5m	A$92.2m 61.4¢ps
Capital Structure Shares on Issue: 150,141,271 Share Price: 42¢ps 31 January 2021

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

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

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