BRM undiluted NAV as at 31/10/19 – $0.7366

BRM undiluted NAV as at 31/10/19 - $0.7366 Date 31/10/2019 30/10/2019 BRM undiluted NAV* $0.7366 $0.7338 Share price close $0.66 $0.64 Discount 10% 13% 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 944,889 shares (acquired under the Barramundi buyback programme). A performance fee payable to the Manager is currently being accrued in the NAV calculation. * The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (BRMWE). The five largest portfolio holdings at 31 October 2019 are approximately as follows: Seek 8% CSL 7% Carsales.com 7% Xero 6% Commonwealth 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 Corporate Manager Barramundi Limited Tel +64 9 4840352 End CA:00343650 For:BRM Type:MKTUPDTE Time:2019-11-01 12:47:44