BRM undiluted NAV as at 4/09/19 – $0.7297

BRM undiluted NAV as at 4/9/19 - $0.7297 Date 4/9/2019 31/8/2019 BRM undiluted NAV* $0.7297 $0.7299 Share price close $0.63 $0.64 Discount 14% 12% 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 158,210 shares (acquired under the Barramundi buyback programme). * The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (BRMWE). At 28 August 2019, 42,153,796 warrants are on issue and may be exercised on 25 October 2019. The actual exercise price of each warrant is $0.64 less the dividends per share declared by the company between 1 November 2018 and 25 October 2019. Dividends totalling 5.37 cents per share have been declared. The five largest portfolio holdings at 4 September 2019 are approximately as follows: Carsales.com 7% Seek Limited 7% CSL Limited 7% Xero Limited 5% Link Administration Holdings Limited 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 Corporate Manager Barramundi Limited Tel +64 9 4840352 End CA:00340435 For:BRM Type:MKTUPDTE Time:2019-09-05 12:06:45