Estimated NTA as at 13 March 2020

Australian Foundation Investment Company Limited (the Company) Estimated NTA - 13 March 2020 Given the recent volatility in the market the Company has decided to release an estimated mid-month NTA. Estimate of NTA per share at the close of business Friday 13 March 2020 was AUD$5.53. Matthew Rowe Company Secretary Release authorised by Matthew Rowe, Company Secretary End CA:00350018 For:AFI Type:MKTUPDTE Time:2020-03-16 15:48:02