Announcement PDF MONTHLY NTA STATEMENT: NOVEMBER 2015 NET TANGIBLE ASSETS 31 OCT 2015 30 NOV 2015 NTA of investments before tax $1.086 $1.101 NTA of investments before tax on unrealised gains $1.044 $1.054 NTA after tax $1.032 $1.042 Month-end closing share price (CTN.ASX) $0.940 $0.92 Month-end closing convertible note price (CTNG.ASX) $101.80 $100.90 * Ex-dividend ASSET COMPOSITION 31 OCT 2015 30 NOV 2015 Investment Type $m % $m % Resources 17.21 10.4 13.11 7.8 Industrials 173.23 104.2 176.88 105.3 Equity index futures 5.63 3.4 8.43 5.0 Liquidity 4.91 3.0 4.93 2.9 Borrowings (Convertible notes) (25.98) -15.6 (25.99) -15.5 Tax liability (8.72) -5.2 (9.42) -5.6 Net Assets After Tax $166.28 100.0% $167.94 100.0% Ordinary Shares on Issue 161.151m 161.151m Convertible Notes on Issue 265,000 265,000 TOP 20 STOCK HOLDINGS WITHIN THE CTN INVESTMENT PORTFOLIO* CODE STOCK SGF MYX ASB HUB ALU AHG SAR ENN QMS VLW SG Fleet Group Limited Mayne Pharma Group Limited Austal Limited HUB24 Limited Altium Limited Automotive Hldgs Group Ltd Saracen Mineral Hldgs Ltd Elanor Investors Group QMS Media Limited Villa World Limited WEIGHT CODE STOCK 4.18% 4.16% 3.32% 3.12% 2.69% 2.67% 2.48% 2.40% 2.24% 2.19% GMF WEB TGP MBE EPD VRL CAT PMP EGG CKF Gpt Metro Office Fund Webjet Limited 360 Capital Group Mobile Embrace Limited Empired Ltd Village Roadshow Limited Catapult Group Intnl Ltd PMP Limited Enero Group Limited Collins Foods Limited WEIGHT 2.07% 2.03% 1.92% 1.88% 1.83% 1.83% 1.76% 1.69% 1.62% 1.57% The investment portfolio contained 78 securities as at 30 November 2015. This excludes the investment in Contango Income Generator Limited and ownership of its investment manager, Contango Asset Management Limited, which amount to approximately 18% and 6% of the NTA value respectively. RECENT ASX ANNOUNCEMENTS 26 November 2015 26 November 2015 26 November 2015 05 November 2015 AGM Investment Presentation AGM Chairman’s Address AGM Voting Results NTA for October 2015 CONVERTIBLE NOTE INTEREST PAYMENT The next interest payment is due on 31 March 2015. DIVIDEND PAYMENT Since the payment of its first dividend in 2004, including this dividend, the Company has declared dividends of 87.3 cents per share with a total dividend payout exceeding $101.8m The balance of Company’s Dividend Reserve is $18.09m – sufficient to pay proposed dividends into FY17. CTN OFFERS A FIRM DIVIDEND POLICY The after-tax NTA announced on the 1st of July 2015 of $1.058 sets the base for FY16 dividend payments. In line with the Company’s dividend policy to pay a minimum of 6% pa of the July 1 NTA value each year, CTN is able to provide investors with guidance of proposed dividend payments. This table is not a formal declaration of dividends. Shareholders and investors should only rely on the Official Declaration of Dividend for confirmation as to dividend amount and relevant dates including what level of franking may be attached to any dividends declared. DIVIDEND GUIDANCE AS AT 1 DECEMBER 2015 AMOUNT FY16 Interim Payable February 2016: Minimum of 2.6 cents per share FY16 Final Payable October 2016: Minimum of 3.7 cents per share Glenn Fowles Director - CONTANGO MICROCAP LIMITED 1 December 2015 Page | 2