KFL undiluted ex-div NAV as at 3/3/21 – $1.7908

KFL undiluted NAV as at 3/3/21 - $1.7908 (after deducting 3.71cps dividend payable) Date 3/3/2021 28/2/2021 KFL undiluted NAV $1.7908 $1.8102 Share price close $1.90 $1.89 (Premium) (6%) (4%) The above net asset value (NAV) is unaudited and net of fees and tax. The NAV per share is after deducting an accrual for a 3.71 cents per share dividend to be paid on 26 March 2021. The NAV per share is also calculated after deducting treasury stock (shares acquired under the Kingfish 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 (KFLWF). At 3 March 2021, 61,578,083 warrants are on issue and may be exercised on 12 March 2021. The final exercise price of each warrant is $1.51. The five largest portfolio holdings at 3 March 2021 are approximately as follows: Mainfreight 20% Infratil 16% Fisher & Paykel Healthcare 14% Summerset 10% The a2 Milk Company 6% BACKGROUND Kingfish is a listed investment company that invests in growing New Zealand companies. The Kingfish portfolio is managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in growth company shares. The aim of Kingfish 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. Kingfish listed on NZX Main Board on 31 March 2004 and may invest in companies that are listed on a New Zealand stock exchange or unlisted companies. Contact Corporate Manager Kingfish Limited Tel +64 9 4840352 End CA:00368633 For:KFL Type:MKTUPDTE Time:2021-03-04 15:15:01