WHITEFIELD INDUSTRIALS LIMITED — Net Asset Value 2021

Jun 9, 2021

May 2021

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NTA and Monthly Snapshot

NET TANGIBLE ASSET BACKING

Whitefield advises that its Net Tangible Asset Backing [NTA] at the latest month-end was as follows:

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|---|---|---|
|Prior|
|NTA [PER ORDINARY SHARE]|31 May 2021|Month|
|NTA (Before Deferred Tax)|$5.45|$5.40|
|NTA (After Deferred Tax)|$4.88|$4.86|

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*After a reduction of 10.25 cents representing the final dividend payable on the 11[th] June 2021

Deferred tax, includes a provision for tax which would be payable if the company disposed of its entire investment portfolio at the relevant month end. However, as a long term investor, the company neither intends nor expects to sell its entire investment portfolio.

OTHER DETAILS

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|---|---|
|31 May 2021|
|Net Tangible Asset Backing (Post Def Tax)|$469.6m|
|WHF Ordinary Shares on Issue|96,298,506|
|Convertible Resettable Pref Shares WHFPB|321,386|
|WHF Share Price|$5.78|
|Premium (Discount) to Pre Tax NTA|6.06%|
|Premium (Discount) to Post Tax NTA|18.44%|

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PERFORMANCE SUMMARY

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|---|---|---|---|
|INVESTMENT RETURN|1 Qtr|1 Yr|5 Yr|
|Before Tax Returns (Portfolio return before costs & tax)|
|WHF Portfolio|10.81%|25.68%|8.08%|
|S&P/ASX200 Industrials XJIAI|10.17%|27.51%|8.22%|
|After Tax Returns (Company return after costs & company tax)|
|Net Asset Backing (Pre-Def Tax)|11.27%|25.28%|6.91%|
|Net Asset Backing (Post Def Tax)|8.91%|19.95%|6.53%|
|WHF Share Price|9.54%|27.68%|10.93%|

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TOP 20 INVESTMENTS

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|---|---|---|
|At 31 May 2021|%|
|CBA|Commonwealth Bank of Australia|10.96%|
|CSL|CSL Limited|8.13%|
|WBC|Westpac Banking Corporation|5.73%|
|NAB|National Australia Bank Limited|5.51%|
|ANZ|ANZ Banking Group Limited|5.06%|
|WES|Wesfarmers Limited|4.23%|
|WOW|Woolworths Group Limited|3.54%|
|MQG|Macquarie Group Limited|2.89%|
|TLS|Telstra Corporation Limited|2.22%|
|GMG|Goodman Group|2.02%|
|TCL|Transurban Group|2.01%|
|COL|Coles Group Limited|1.70%|
|SHL|Sonic Healthcare Limited|1.36%|
|ALL|Aristocrat Leisure Limited|1.32%|
|APT|Afterpay Limited|1.24%|
|BXB|Brambles Limited|1.23%|
|JHX|James Hardie Industries PLC|1.18%|
|SGP|Stockland|1.03%|
|XRO|Xero Limited|0.99%|
|ASX|ASX Limited|0.91%|
|Cash & Cash Equivalents|1.91%|

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SECTOR BREAKDOWN

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|---|---|
|At 31 May 2021|%|
|Commercial Banks|27.45%|
|Health Care|13.46%|
|Consumer Discretionary|10.28%|
|Financials|9.30%|
|Industrials|7.85%|
|Real Estate|7.76%|
|Consumer Staples|6.94%|
|Communication Services|5.25%|
|Information Technology|4.44%|
|Materials|3.64%|
|Utilities|1.72%|
|Cash & Cash Equivalents|1.91%|
|100.00%|

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_Contact details

Suite 16.01 Level 16, 68 Pitt Street Sydney NSW 2000

Phone +61 2 8215 7900 Fax +61 2 8215 7901 Whitefield Limited ABN 50 000 012 895

Reliable. Efficient. Consistent.

whitefield.com.au