AMCIL Limited · ASX:AMH

AMCIL — Shareholder Meeting (September 2009)

17 slides from AMCIL's shareholder meeting presentation, Sep 28, 2009

1. Slide 1: AMCIL Limited 2009 Annual General Meeting Chairman's Presentation

   For personal use only 28 September 2009 The Manager Company Announcements Office Australian Securities Exchange Limited Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 Electronic Lodgement AMCIL Limited 2009 Annual General Meeting Chairman’s Presentation Dear Sir or Madam AMCIL Limited Chai

2. Slide 2: AMCIL Annual General Meeting Presentation

   For personal use only AMCIL Annual General Meeting 28 September 2009 Presentation

3. Slide 3: Total Profit Since Recapitalisation

   Total Profit Since Recapitalisation For personal use only $Million 16 14 13.9 12 10 9.3 8 10.7 5.1 6 4.6 4 3.3 0.8* 2.6 2 1.0 1.5 4.2 0.2 3.2 3.8 0.6 1.6 1.8 0 0.4 2004 2005 2006 2007 2008 2009 Net Operating Profit After Tax Profit After Tax (including realised gains) * Includes a charge of $5.1 mil

4. Slide 4: Dividends

   For personal use only Dividends ƒ 2 cents per share fully franked (3 cents last year) Dividend Policy ƒ Maximise the distribution of the franking account balance subject to the level of profit for the year ƒ It is not be normal practice to distribute realised capital gains unless franking credits ha

5. Slide 5: Portfolio at June

   Portfolio at 30 June For personal use only $Million 160 141.2 140 16.6 121.3 120 18.0 106.4 100 22.0 80 71.5 60 52.3 124.6 44.6 103.3 8.5 40 84.4 25.8 71.5 20 43.8 18.8 0 2004 2005 2006 2007 2008 2009 Portfolio Value Cash New Capital of $39.1 million raised in 2007 as a result of the exercise of out

6. Slide 6: Portfolio

   Portfolio For personal use only At 31 August 2009: ¾ 39 companies with a market value $110.6m ¾ $12.1 million of cash

7. Slide 7: AMCIL Top Holdings – August 2009

   AMCIL Top 20 Holdings – 31 August 2009 For personal use only $ ’000 1 Westpac Banking Corporation 8,945 2 Commonwealth Bank of Australia 7,652 * 3 National Australia Bank 7,631 4 BHP Billiton 7,360 5 Telstra Corporation 6,690 6 Hastings Diversified Utilities Fund 5,579 7 QBE Insurance Group 5,148 8

8. Slide 8: AMCIL Top Holdings – August 2009

   AMCIL Top 20 Holdings – 31 August 2009 For personal use only $ ’000 11 Amcor 3,938 12 Peet 3,844 13 ASG Group 3,235 14 Equity Trustees 3,216 15 Mitchell Communication Group 2,950 16 Brambles 2,851 17 Coca-Cola Amatil 2,725 18 Oil Search 2,536 19 REA Group 2,434 20 Oakton 2,185 Total 91,943 As % of T

9. Slide 9: Largest Acquisitions (1/7/08-30/6/09)

   For personal use only Largest 5 Acquisitions - (1/7/08-30/6/09) $m Westpac Banking Corporation 4.9 Commonwealth Bank of Australia 3.5 QBE Insurance Group 3.3 Iluka Resources 1.6 National Australia Bank 1.5

10. Slide 10: Largest Disposals (1/7/08 to 30/6/09)

    For personal use only Largest 5 Disposals - (1/7/08 to 30/6/09) $m Queensland Gas 11.5 ConnectEast Group 3.8 Rio Tinto 3.5 BHP Billiton 2.7 News Corporation 1.4

11. Slide 11: Major Purchases Since June 2009

    Major Purchases Since 30 June 2009 For personal use only Existing Stocks: ƒ PrimeAg Australia ƒ Amcor ƒ Westpac ƒ National Australia Bank

12. Slide 12: Major Purchases Since June 2009 (cont.)

    Major Purchases Since 30 June 2009 For personal use only con’t. New Stocks : ƒ Hastings Diversified Utilities – investor in utility infrastructure assets, primarily gas transmission pipelines in Australia (Epic Energy Holdings) ƒ Perpetual – funds management and wealth management provider

13. Slide 13: Major Sales Since June 2009

    For personal use only Major Sales Since 30 June 2009 ƒ Diversified United Investment Limited

14. Slide 14: Total Portfolio Return – % Per Year to August 2009

    Total Portfolio Return* – % Per Year to 31 August 2009 For personal use only 20% 14.9% 15% 10.9% 10% 5.6% 5% 0% 1 year return return since recapitalisation in -5% January 2004 -10% -8.1% AMCIL return on capital* S&P/ASX 200 Accumulation Index *measured by return on capital as measured by the change

15. Slide 15: Share Price Relative to Net Asset Backing

    09 g- A u -09 l 9 J u -0 n 9 Premium Discount Ju y-0 Share Price Relative to Net Asset Backing a M r - 09 9 A p -0 ar 9 M -0 b F e - 09 n 8 J a c- 0 8 D e v -0 No -08 ct 8 O p-0 8 S e g- 0 A u - 08 l 8 J u -0 n 8 Ju y-0 a M r - 08 8 A p -0 ar 8 M -0 b F e - 08 n 7 J a c- 0 7 D e v -0 No -07 ct 7 O p

16. Slide 16: Outlook

    For personal use only Outlook ƒ We have selectively tried to capture value through this turbulent period primarily from participation in capital raisings. ƒ Markets have improved dramatically since their lows with valuations now more in line with long term averages ƒ Companies that survived are gene

17. Slide 17: Annual General Meeting

    For personal use only Annual General Meeting

AMCIL — Shareholder Meeting (September 2009) on 6ix