KFL undiluted ex-div NAV as at 4/3/26 - $1.2607

KFL undiluted NAV as at 4/3/26 - $1.2607 (after deducting 2.66cps dividend payable)
Date4/3/202628/2/2026
KFL undiluted NAV$1.2607$1.3071
Share price close$1.2300 $1.2700
Discount 2%3%
The five largest portfolio holdings at 4 March 2026 are approximately as follows:
Fisher & Paykel Healthcare20%
Infratil14%
Summerset9%
Auckland International Airport8%
Mainfreight8%
BACKGROUND
Contact
Corporate Manager
Kingfish Limited
Tel +64 9 4840352
KingfishisalistedinvestmentcompanythatinvestsinqualitygrowingNewZealandcompanies.TheKingfishportfoliois
managedbyFisherFundsManagementLtd,aspecialistinvestmentmanagerwithatrackrecordofsuccessfullyinvesting
ingrowthcompanyshares.TheaimofKingfishistoofferinvestorscompetitivereturnsthroughcapitalgrowthand
dividends,andaccesstoadiversifiedportfolioofinvestmentsthroughasingletaxefficientinvestmentvehicle.Kingfish
listedonNZXMainBoardon31March2004andmayinvestincompaniesthatarelistedonaNewZealandstock
exchange or unlisted companies.
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 2.66 cents per share dividend to be paid on 27 March 2026. The
NAV per share is also calculated after deducting treasury stock (shares acquired under the Kingfish buyback programme) -
currently nil.
* The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (KFLWI). At 4 March 2026,
86,961,524 warrants are on issue and may be exercised on 1 May 2026. The actual exercise price of each warrant is $1.35
less the dividends per share declared by the company with a record date between 1 May 2025 and the announcement of
the 1 May 2026 exercise price. Dividends totalling 10.84 cents per share have been declared to date and there are no
more dividends expected to be declared in the remaining period up to the announcement of the 1 May 2026 exercise price.
Kingfish Limited
Phone +64 9 489 7094
Private Bag 93502
Takapuna, Auckland