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For personal use only Appendix 4D Half Year Report ◆ Platinum CAPITAL LIMITED Listing Rule 4.3A Company ASX Code Period ended Previous corresponding period ended ABN Results for Announcement to the Market Platinum Capital Limited PMC 31 December 2020 31 December 2019 51 063 975 431 This announcement to the market should be read in conjunction with the 31 December 2020 annual financial report . Total investment income Profit from ordinary activities after tax attributable to members Net profit for the period attributable to members % $ A'000 Movement 63.4 % 55,615 69.4 % 36,488 69.4 % 36,488 The Directors consider that pre - tax net tangible asset backing per share , after the deduction of fees and expenses , adjusted for corporate taxes paid , and any capital flows and assuming the reinvestment of dividends ( " pre - tax NTA " ) , is a better measure of performance of the Company than the reported profits . Using the pre - tax NTA allows investors to make a more meaningful comparison between the investment performance of the portfolio and the index . For the 6 months to 31 December 2020 , the Company's pre- tax NTA per share increased from $ 1.41 to $ 1.57 . This is after the payment of 3 cents per share in dividends during the financial year . The Company's returns to 31 December 2020 ( measured by its pre - tax NTA ) compared to the benchmark over 6 months , 1 year , 5 years , 10 years and since inception ( June 1994 ) are shown in the table below : Investment Performance PMC's performance MSCI AC World Net Index in A $ i 6 months 12.9 % 10.6 % 1 year 1.6 % 5 years ( cpd p.a. ) 10 years ( cpd p.a. ) Since inception ( cpd p.a. ) 9.5 % 5.9 % 12.3 % 7.3 % 10.9 % 11.6 % 7.3 % Source : Platinum Investment Management Limited ( PMC returns ) and FactSet Research Systems ( MSCI returns ) . Note : Returns are calculated after the deduction of fees and expenses , adjusted for taxes paid and any capital flows and assume the reinvestment of dividends . Returns have not been calculated using the Company's share price . Past performance is not a reliable indicator of future performance . Page 1 of 2