BRM undiluted NAV as at 31/10/20 – $0.7346

BRM undiluted NAV as at 31/10/20 - $0.7346 Date 31/10/2020 28/10/2020 BRM undiluted NAV $0.7346 $0.7517 Share price close $0.85 $0.83 (Premium) (16%) (10%) The above net asset value (NAV) is unaudited and net of fees and tax. The NAV per share is calculated after deducting treasury stock (shares acquired under the Barramundi buyback programme) - currently nil. 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 (BRMWF). At 31 October 2020, 52,532,918 warrants are on issue and may be exercised on 29 October 2021. The actual exercise price of each warrant is $0.70 less the dividends per share declared by the company between 5 October 2020 and the announcement of the 29 October 2021 exercise price. The five largest portfolio holdings at 31 October 2020 are approximately as follows: CSL 9% Carsales.com 6% Xero 6% Wisetech 6% Seek 6% 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:00362457 For:BRM Type:MKTUPDTE Time:2020-11-02 16:19:25