MAJE Majedie Investments Plc

MAJEDIE INVESTMENTS PLC

The unaudited consolidated net asset value of the Ordinary shares of the Company
at the close of business on 29 August 2014 was as follows:

With debentures at par value: 246.42 pence per share

The debentures at fair value: 231.02 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 2.5% risk premium. The
Board sees this mechanism as transparent, market related and consistent with best
practice.

01 September 2014