CD PRIVATE EQUITY FUND I — Net Asset Value 2013

May 13, 2013

14 May 2013

US Select Private Opportunities Fund (Fund) ASX: USF

NTA and Fund Update – 30 April 2013

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 30 April 2013 was $1.50* per Unit (31 March 2013 was $1.50 per Unit).

Fund update

Drawdowns –

US Select Private Opportunities Fund, LP ( LP ) received its second drawdown from Incline Equity Capital Partners III, LP ( Incline ) for a total consideration of approximately US$1.0 million. Incline intends to use these funds to invest in a company that specialises in inspection and testing services for a broad range of energy, chemical and other commodities.

Inclusive of this, the LP had received drawdown requests for a consideration of approximately US$10.9 million, or approximately 15.4% of total LP committed funds.

Capital calls –

On 30 April 2013, the LP made its fourth capital call for a total of US$5.0 million. Total capital called by the LP is US$17.5 million (or approximately 25.2% of capital committed). The Fund’s proportionate share is approximately US$15.0 million (an 85.5%) share.

For more information, contact:

Alex MacLachlan 1300 454 801

*Source: Dixon Advisory & Superannuation Services Limited – historical performance is not a guarantee of the future performance of the Fund

The US Select Private Opportunities Fund is the first Australian-listed fund with a primary strategy of investing in US small-to-mid-market private investment funds, adopting a fund-of-funds investment strategy.