CD PRIVATE EQUITY FUND I — Net Asset Value 2021

Jun 10, 2021

Monthly update – May 2021

CD Private Equity Fund I

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NTA Gross assets Distributions per unit One month Annualised performance since
per unit (millions) (and percentage of initial investment) performance [1,2] inception (August 2012) [1,2]
Last 12 months: Since inception:
$1.64 $64.5 14 cents (9%) 181 cents (113%) 3.8% 12.4%
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Fund update

The estimated unaudited net tangible asset value (NTA) after tax as at 31 May 2021 was $1.64[1,3] per unit (30 April 2021 was $1.58[1] per unit).

Net asset value movements for May were a result of the receipt of increased assets valuations from underlying LPs, despite a small negative impact from the rising Australian dollar (+0.2%).

Following month end the Fund announced a distribution of 40 cents per unit, with a record date of 18 June 2021 and payment date on or around 29 June 2021.

Note that the NTA and distribution figures included in the table above are as at 31 May 2021 and do not reflect this distribution.

CD1 Fund performance

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1 Month 3 Months 6 Months 1 Year 3 Years p.a. 5 Years p.a. Since inception p.a. [3]
NTA return [1,2] 3.8% 17.1% 11.4% 18.7% 16.9% 13.4% 12.4%
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On an NTA/Internal Rate of Return (IRR) basis CD1 has achieved a return of 11.9% per annum since inception.

CD1 portfolio asset allocation

LP commitments to underlying managers (US$69.8m)

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Distribution US Select DFW
Software & Direct
Technology 9.4% Business $5.0
4.0% Services $13.0 Encore
24.3%
$10.0
Healthcare
10.8%
$4.0 FPC
Telecomm- Trivest $10.0
4.6%
unications
10.8% Manufacturing
$10.0
$4.8
Incline
$3.0 Prometheus $3.0
36.2% $10.0
Peppertree
Consumer & Retail KarpReilly
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ASX release date: 11 June 2021

Notes: Authorised for release by E&P Investments Limited (ACN 152 367 649, AFSL 410 433), the responsible entity of CD Private Equity Fund I (Fund or CD1). 1. Source: E&P Investments Limited – the historical performance is not a guarantee of the future performance of the Fund; 2. Total returns are inclusive of distributions. NTA return is based on post tax NTA; 3. Based on estimated unaudited net tangible asset value before tax at 31 May 2021 of $1.65 per unit (30 April 2021 was $1.59). *The LP received a final distribution from Prometheus Partners IV. L.P. on 30 September 2016 and has no remaining capital with this fund. Numbers may not add due to rounding.

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