BRM undiluted NAV as at 22/7/26 - $0.5312

23/07/2026 14:16 NZST, MKTUPDTE

BRM undiluted NAV as at 22/7/26 - $0.5312

Date 22/7/2026 15/7/2026

BRM undiluted NAV $0.5312 $0.5321

Share price close $0.4710 $0.4870

Discount 11% 8%

The above net asset value (NAV) is unaudited and net of fees and tax.

The NAV per share is calculated after deducting treasury stock 463,500 shares (acquired under the Barramundi buyback programme).

* The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (BRMWI). At 22 July 2026, 85,179,108 warrants are on issue and may be exercised on 7 August 2026. The final exercise price of each warrant is $0.65.

The five largest portfolio holdings at 22 July 2026 are approximately as follows:

BHP Group 6%

WiseTech 6%

Xero 6%

Macquarie Group 6%

PWR Holdings 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