CD PRIVATE EQUITY FUND I — Net Asset Value 2021

May 13, 2021

Monthly update – April 2021

CD Private Equity Fund I

ASX release date: 14 May 2021

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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:
$1.58 $62.2 14 cents (9%) 181 cents (113%) 1.3% 12.1%
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Fund update

The estimated unaudited net tangible asset value (NTA) after tax as at 30 April 2021 was $1.58[1,3] per unit (31 March 2021 was $1.56[1] per unit).

Net asset value movements for April were a result of the receipt of increased assets valuations from underlying LPs, despite a small negative impact from the rising Australian dollar (+1.6%).

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] 1.3% 12.1% 20.7% 11.4% 16.5% 13.5% 12.1%
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On an NTA/Internal Rate of Return (IRR) basis CD1 has achieved a return of 11.7% 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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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 30 April 2021 of $1.59 per unit (31 March 2021 was $1.56). *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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