CD PRIVATE EQUITY FUND I — Net Asset Value 2026

Mar 12, 2026

13 March 2026

CD PRIVATE EQUITY FUND I: ASX: CD1

NET TANGIBLE ASSET UPDATE – 28 FEBRUARY 2026

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----- Start of picture text ----- Gross assets Distributions Distributions 5 year NTANTA per unit Fund Inception(million) Last 12 months Since Inception return$0.65 $24.5 $0.13 per unit $3.085 per unit August 2012 6.2% p.a.----- End of picture text -----

The estimated unaudited net tangible asset value (NTA) after tax as at 28 February 2026 was $0.65[1,3] per unit (31 January 2026 was $0.67[1,3] per unit).

The NTA movement during the month is primarily a result of foreign exchange losses due to the strengthening of the Australian dollar.

PERFORMANCE SUMMARY

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----- Start of picture text ----- 1 month 6 months 1 year 3 years p.a. 5 years p.a. Since Inception p.a.NTA Return [1,2]-3.0% -11.4% -13.4% -4.5% 6.2% 9.0%----- End of picture text -----

On an NTA/Internal Rate of Return (IRR) basis, CD1 has achieved a return of 11.3% per annum since inception.

MONTHLY LP & FUND UPDATE

The LP did not receive any distributions or capital calls during the month.

The Fund was pleased to announce a distribution of $0.05 per unit in January, which was paid to Unitholders during the month. In total, the Fund has now returned $3.085 per unit to original Unitholders, representing a 1.93x return of capital (distributions only) and a total value to paid-in capital (TVPI) multiple of 2.33x. The accompanying distribution notice can be found here and the 12-H here.

As always, Unitholders are welcome to reach out to the team with any questions via email at cdfunds@k2am.com.au, or by calling +61 3 9691 6110.

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;

1. Total returns are inclusive of distributions and based on the Fund’s post tax NTA. The tax component in the post tax NTA refers to the estimate of likely US tax the Fund will incur upon realisation of recorded fair value movements.

1. Estimated unaudited net tangible asset value before tax at 28 February 2026 of $0.66 per unit (31 January 2026 of $0.68 per unit).

Authorised for release by K2 Asset Management Ltd (K2) (ACN 085 445 094, AFSL 244 393), the responsible entity of CD Private Equity Fund I (Fund or CD1). Notes: AUD:USD spot rate of 0.7116 as at 28 February 2026. Numbers may not sum due to rounding.

Email: cdfunds@k2am.com.au | Phone: +61 3 9691 6110 | Web: www.cdfunds.com.au Level 44, 101 Collins Street Melbourne VIC 3000

ARSN: 158 625 284 Page 1