KFL NAV as at 29/1/20 – $1.6692

KFL NAV as at 29/1/20 - $1.6692 Date 29/1/2020 22/1/2020 KFL NAV $1.6692 $1.6978 Share price close $1.68 $1.65 (Premium) / Discount (1%) 3% 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 Kingfish buyback programme) - currently nil. A performance fee payable to the Manager is currently being accrued in the NAV calculation. The five largest portfolio holdings at 29 January 2020 are approximately as follows: The a2 Milk Company 16% Fisher & Paykel Healthcare 13% Mainfreight 13% Infratil 11% Summerset 8% 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:00347736 For:KFL Type:MKTUPDTE Time:2020-01-30 14:13:40