CD PRIVATE EQUITY FUND II — Net Asset Value 2013

May 13, 2013

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14 May 2013

US Select Private Opportunities Fund II (Fund) ASX: USG

NTA Update and Fund Update – 30 April 2013

NTA update

The estimated unaudited net tangible asset value before withholding tax on unpaid distributions at 30 April 2013 was $1.54* per Unit.

Fund update

Drawdowns –

US Select Private Opportunities Fund II, LP ( LP ), received two capital calls from RFE Investment Partners VIII, LP ( RFE ) for total consideration of approximately US$2.1 million.

The LP also received an initial capital call from Tengram Capital Partners Gen2 Fund, LP ( Tengram ), for total consideration of approximately US$2.5 million.

To date, total capital calls received by the LP are approximately US$4.5 million, or 6.7% of total funds committed to the LP.

Capital call –

The LP made an initial capital call of US$10.0 million, representing 14.7% of capital committed. The Fund’s proportionate share is approximately US$8.5 million (an 85.5% share).

New investment secured –

We are pleased to announce the LP has committed US$12.0 million to US Select Direct Private Equity (US), L.P. ( US Direct ). This represents the third commitment for the LP. See Appendix 1 for more details on US Direct.

The LP has now committed US$30.0 million to underlying investments, representing 44% of total capital.

For more information, contact:

Alex MacLachlan 1300 454 801

*Source: Walsh & Company Investments Limited – historical performance is not a guarantee of the future performance of the Fund

The US Select Private Opportunities Fund II has a primary strategy of investing in US small-tomid-market private investment funds, adopting a fund-of-funds strategy.

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APPENDIX 1: US SELECT DIRECT PRIVATE EQUITY (US), L.P.

US Direct was established with sole purpose of investing in a direct portfolio of select companies alongside leading, specialise private investment funds, a strategy commonly referred to as coinvesting.

US direct provides a platform through which the investors can access attractive co-investment opportunities within the LP’s target market of small and mid-market private investments. Co-investing enables the LP to accelerate its deployment of capital, thereby enhancing returns and cash flows, better tailor its investment exposures and reduce investment management fees. The LP’s investment in US direct is consistent with its investment mandate.

Co-investing is an increasingly competitive and sought-after segment of the private investment market. By building a specialist co-investment platform and leveraging existing relationships with leading private investment managers, US direct will be well placed to access highly coveted coinvestment opportunities.

US Direct was established by US Select Direct Private Equity GP (US), LLC ( GP ), a Delaware limited liability company owned by Pratt Street Private Ventures, LLC, which shares common ownership with Cordish Private Ventures and a subsidiary of Dixon Advisory Group and Sinex Investments, LLC. The GP will receive management and performance-based fees consistent with industry practice for similar funds in the private investment market.

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