Marlin Global : delivers another record result (MLN - Commentary for year ended 30 June 2018)

For immediate release:

20 August 2018

Marlin delivers another record result

Highlights

•  Net profit of $23.8m

•  Marlin returns 23.2% after fees and tax

•  Standout performances from healthcare and technology holdings

Marlin Global Limited (NZX: MLN) today announces a net profit of $23.8 million for the 12 months ended 30

June 2018, a 52% increase on the record prior year result of $15.7m.

Chair Alistair Ryan said, "We are pleased to report that Marlin has delivered another strong result for shareholders for the 2018 financial year, returning 23.2%1 after fees and tax, well ahead of its benchmark index2." Mr Ryan added, "Shareholders have also experienced a strengthening share price over the period, and as a result total shareholder return for the period was a healthy 21.5%."

Senior Portfolio Manager Ashley Gardyne said: "The portfolio rose 26.6%3 before fees and tax, 9.5 percentage points ahead of its benchmark index² which rose 17.1%. The strong portfolio performance was supported by the longstanding technology investments Mastercard, PayPal and Amazon."

Mr Gardyne added, "During the year we made a number of changes to the Marlin portfolio, including adding more exposure to healthcare and consumer holdings. New portfolio positions William Demant, Abbott Labs and TJX contributed significantly to the year's result."

In accordance with Marlin's quarterly distribution policy (2% of average NAV per quarter), the company paid a total of 7.59 cents per share to shareholders during the year ended 30 June 2018. Today, the Board declared a dividend of 2.05 cents per share, payable on 28 September 2018 with a record date of 13 September 2018.

For further information, please contact:

Jody Kaye

Corporate Manager Marlin Global Limited Tel: [phone]

The total shareholder return, adjusted NAV return and gross performance return methodologies are described in the Marlin Global Non-GAAP Financial Information Policy. A copy of the policy is available athttp://marlin.co.nz/about-marlin/marlin-policies/

About Marlin Global

Marlin Global is a listed investment company that invests in growing companies based outside of New Zealand and Australia. The Marlin portfolio is managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in growth company shares. The aim of Marlin 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. Marlin listed on the NZX Main Board on 1 November 2007 and may invest in companies that are listed on any approved stock exchange (excluding New Zealand or Australia) or unlisted international companies not incorporated in New Zealand or Australia.

• 1 Adjusted NAV return

• 2 S&P Large Mid Cap/S&P Small Cap Index (hedged 50% to NZD)

• 3 Gross performance return