CD PRIVATE EQUITY FUND I — Net Asset Value 2023

Jul 13, 2023

Monthly update – June 2023

CD Private Equity Fund I (ASX: CD1)

NTAper unitGross Assets(millions)Distributions per unit(percentage of initial investment)One monthperformance1,2Annualised performance sinceinception (August 2012)1,2	NTAper unitGross Assets(millions)Distributions per unit(percentage of initial investment)One monthperformance1,2Annualised performance sinceinception (August 2012)1,2	NTAper unitGross Assets(millions)Distributions per unit(percentage of initial investment)One monthperformance1,2Annualised performance sinceinception (August 2012)1,2	NTAper unitGross Assets(millions)Distributions per unit(percentage of initial investment)One monthperformance1,2Annualised performance sinceinception (August 2012)1,2	NTAper unitGross Assets(millions)Distributions per unit(percentage of initial investment)One monthperformance1,2Annualised performance sinceinception (August 2012)1,2	NTAper unitGross Assets(millions)Distributions per unit(percentage of initial investment)One monthperformance1,2Annualised performance sinceinception (August 2012)1,2
$1.16	$42.70	Last 12 months:22 cents (14%)	Since inception:266 cents (166%)	-1.7%	12.6%

Fund Update

The estimated unaudited net tangible asset value (NTA) after tax as at 30 June 2023 was $1.16[1,3] per unit (31 May 2023 was $1.18[1] per unit).

This net asset value movement recorded during the month was primarily a result of foreign exchange movements, with the Australian dollar strengthening by 2.4% during the period.

As has been previously announced, K2 Asset Management Ltd ( K2 ) has been appointed as Responsible Entity ( RE ) of CD1 effective 24 June 2023. K2 is pleased to release this announcement as RE for the Fund and look forward to continuing to work with Unitholders, ensuring open and transparent discussions regarding the Fund.

Unitholders are welcome to reach out to the Investor Relations team via email (cdfunds@k2am.com.au) or by calling +61 3 9691 6110.

CD1 Fund Performance

1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%	1 Month3 Months6 Months1 Year3 Years p.a.5 Years p.a.Since inception p.a.3NTA return1,2-1.7%0.0%-0.9%-5.1%16.6%15.3%12.6%
	-1.7%	0.0%	-0.9%	-5.1%	16.6%	15.3%	12.6%

On an NTA/Internal Rate of Return (IRR) basis, CD1 has achieved a return of 12.2% per annum since inception.

ASX release date: 14 July 2023

Notes: Authorised for release by K2 Asset Management Ltd (ACN 085 445 094, AFSL 244 393), the responsible entity of CD Private Equity Fund I (Fund or CD1).

1. Source: E&P Investments Limited (for data before 24 June 2023) and K2 Asset Management Ltd (for data post 24 June 2023). 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 June 2023 of $1.17 per unit (31 May 2023 was $1.19).

Numbers may not sum due to rounding.

Level 32, 101 Collins Street Melbourne VIC 3000 T 61 3 9691 6110 F 61 3 9691 6170 E cdfunds@k2am.com.au

cdfunds.com.au ARSN 158 625 284