CD PRIVATE EQUITY FUND I — Net Asset Value 2015

May 13, 2015

14 May 2015

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US Select Private Opportunities Fund (Fund)

ASX: USF

NTA & Fund Update – 30 April 2015

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 30 April 2015 was $1.93* per unit (31 March 2015 was $2.02* per unit).

Fund update

Capital commitment

At 30 April 2015 the LP had called US$47.5 million (or 68.3% of capital committed). The Fund’s proportionate share is approximately US$40.6 million (an 85.5% share).

Drawdowns

During the month, the LP received drawdown requests from DFW Capital Partners IV, L.P., KarpReilly Capital Partners II, L.P. and Peppertree Capital Fund IV, L.P. for a total drawdown of US$2.2 million.

At 30 April 2015, net drawdown requests from underlying investments were approximately US$34.9 million (or 50.1% of total funds committed to the LP).

For further information, contact:

Tom Kline 1300 454 801

• Source: Walsh & Company Investments Limited – historic performance is not a guarantee of the future performance of the Fund

The US Select Private Opportunities Fund was 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.