KFL NAV as at 8/11/17 – $1.4156

Date 8/11/2017 1/11/2017 KFL NAV $1.4156 $1.4107 Share price close $1.29 $1.30 Discount 9% 8% The above net asset value (NAV) is unaudited and net of fees and tax. The NAV per share is calculated after deducting treasury stock of 503,116 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 8 November 2017 are approximately as follows: Mainfreight 12% Fisher & Paykel Healthcare 11% Freightways 9% Infratil 8% Restaurant Brands NZ 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 Kate Teppett Assistant Corporate Manager Kingfish Limited Tel +64 9 4897094 End CA:00310066 For:KFL Type:MKTUPDTE Time:2017-11-09 15:53:52