BRM undiluted NAV as at 31/10/25 - $0.6858

BRM undiluted NAV as at 31/10/25 - $0.6858
Date31/10/202529/10/2025
BRM undiluted NAV$0.6858$0.6935
Share price close$0.6970 $0.6930
(Premium) / Discount (2%)0%
The five largest portfolio holdings at 31 October 2025 are approximately as follows:
CSL7%
Xero6%
WiseTech6%
Car Group6%
Macquarie Group6%
BACKGROUND
Contact
Corporate Manager
Barramundi Limited
Tel +64 9 4840352
BarramundiisalistedinvestmentcompanythatinvestsingrowingAustraliancompanies.TheBarramundiportfolioismanaged
byFisherFunds,aspecialistinvestmentmanagerwithatrackrecordofsuccessfullyinvestingingrowthcompanyshares.The
aimofBarramundiistoofferinvestorscompetitivereturnsthroughcapitalgrowthanddividends,andaccesstoadiversified
portfolioofinvestmentsthroughasingletax-efficientinvestmentvehicle.BarramundilistedontheNZXMainBoardon26
October 2006 and may invest in companies that are listed on an Australian stock exchange or unlisted companies.
The NAV per share is calculated after deducting treasury stock (shares acquired under the Barramundi buyback programme) -
currently nil.
* The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (BRMWI). At 31 October 2025,
85,179,108 warrants are on issue and may be exercised on 7 August 2026. The actual exercise price of each warrant is $0.70
less the dividends per share declared by the company with a record date between 7 August 2025 and the announcement of the
7 August 2026 exercise price. Dividends totalling 1.41 cents per share have been declared to date and there are three more
dividends expected to be declared in the remaining period up to the announcement of the 7 August 2026 exercise price.
The above net asset value (NAV) is unaudited and net of fees and tax.
Barramundi Limited
Phone +64 9 489 7074
Private Bag 93502
Takapuna, Auckland