Pre-Tax Estimated NTA – 13 March 2020

Australian Foundation Investment Company Limited (the Company) Pre-Tax Estimated NTA - 13 March 2020 Please note that the estimated NTA as at 13 March 2020 released on the 16 March 2020 is before any provision for tax on unrealised capital gains or losses. Given the recent volatility in the market the Company has decided to release an estimated mid-month NTA. Pre-Tax 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:00350031 For:AFI Type:MKTUPDTE Time:2020-03-17 08:30:07