KFL undiluted ex-div NAV as at 12/6/19 – $1.5840

KFL undiluted NAV as at 12/6/19 - $1.5840 (after deducting 3.07cps dividend payable) Date 12/6/2019 5/6/2019 KFL undiluted NAV* $1.5840 $1.5761 Share price close $1.41 $1.46 Discount 11% 7% The above net asset value (NAV) is unaudited and net of fees and tax. The NAV per share is after deducting an accrual for a 3.07 cents per share dividend to be paid on 27 June 2019. The NAV per share is also calculated after deducting treasury stock of 117,500 shares (acquired under the Kingfish buyback programme). * The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (KFLWE). At 12 June 2019, 48,368,533 warrants are on issue and may be exercised on 12 July 2019. The actual exercise price of each warrant is $1.37 less the dividends per share declared by the company between 19 July 2018 and 12 July 2019. Dividends totalling 11.94 cents per share have been declared to date and there are no more dividends to be declared in the remaining period to 12 July 2019. The five largest portfolio holdings at 12 June 2019 are approximately as follows: The a2 Milk Company 15% Fisher & Paykel Healthcare 14% Mainfreight 12% Infratil 9% Freightways 8% 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 Corporate Manager Kingfish Limited Tel +64 9 4840352 End CA:00335980 For:KFL Type:MKTUPDTE Time:2019-06-13 14:42:39