Net Asset Value(s)

MAJEDIE INVESTMENTS PLC

The unaudited consolidated net asset value of the Ordinary shares of the Company
at the close of business on 13 June 2014 was as follows:

With debentures at par value: 248.55 pence per share

The debentures at fair value: 235.13 pence per share

The net asset value published is on a cum-income basis (calculated using income 
and expenditure estimates). The fair value of debentures is calculated by using the
yield of UK Treasury Bonds of an equal duration plus a 2.5% risk premium. The board
sees this mechanism as transparent, market related and consistent with best practice.
The published net asset value is ex the 2014 interim 3p dividend.

16 June 2014