BRM undiluted NAV as at 8/11/17 – $0.6961

Date 8/11/2017 1/11/2017 BRM undiluted NAV* $0.6961 $0.6908 Share price close $0.59 $0.59 Discount 15% 15% The above undiluted net asset value (NAV) is unaudited and net of fees and tax. The NAV per share is calculated after deducting treasury stock of 667,049 shares (acquired under the Barramundi buyback programme). A performance fee payable to the Manager, is currently being accrued in the NAV. * The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (BRMWD). At 8 November 2017, 36,471,368 warrants are on issue and may be exercised on 24 November 2017. The final exercise price of each warrant is $0.58. The five largest portfolio holdings at 8 November 2017 are approximately as follows: CSL Limited 7% SEEK 7% Carsales.com 6% Commonwealth Bank of Australia 5% National Australia Bank 5% BACKGROUND Barramundi is a listed investment company that invests in growing Australian companies. The Barramundi portfolio is managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in growth company shares. The aim of Barramundi 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. Barramundi listed on the NZX Main Board on 26 October 2006 and may invest in companies that are listed on an Australian stock exchange or unlisted companies. Contact Kate Teppett Assistant Corporate Manager Barramundi Limited Tel +64 9 4897074 End CA:00310068 For:BRM Type:MKTUPDTE Time:2017-11-09 15:56:44