CD PRIVATE EQUITY FUND I — Net Asset Value 2026

Feb 12, 2026

13 February 2026

CD PRIVATE EQUITY FUND I: ASX: CD1

NET TANGIBLE ASSET UPDATE – 31 JANUARY 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$0.67 $27.0 $0.13 per unit $3.085 per unit August 2012 6.7% p.a.----- End of picture text -----

The estimated unaudited net tangible asset value (NTA) after tax as at 31 January 2026 was $0.67[1,3] per unit (31 December 2025 was $0.75[1,3] per unit).

The NTA movement during the month primarily reflects the $0.05 per unit distribution announced on 23 January 2026, which went on record during the period. In addition, the Australian dollar strengthened approximately 4.35% against the US dollar during the month, creating a translation headwind on the conversion of the Fund’s USD-denominated assets into AUD.

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]-4.0% -10.7% -10.7% -2.2% 6.7% 9.3%----- 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.

In January, the Fund declared a distribution of $0.05 per unit, payable on 24 February 2026. This distribution represents the continued return of capital to Unitholders following underlying portfolio realisations.

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.

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 0.6963 as at 31 January 2026. Numbers may not sum due to rounding.

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. Estimated unaudited net tangible asset value before tax at 31 January 2026 of $0.68 per unit (31 December 2025 of $0.76 per unit).

2. 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.

Email: cdfunds@k2am.com.au | Phone: +61 3 9691 6110 | Web: www.cdfunds.com.au ARSN: 158 625 284 Level 44, 101 Collins Street Melbourne VIC 3000 Page 1