CD PRIVATE EQUITY FUND II — Net Asset Value 2021

May 13, 2021

Monthly update – April 2021

CD Private Equity Fund II

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 (April 2013) [1,2]
Last 12 months: Since inception:
$2.02 $118.7 8 cents (5%) 103 cents (64%) 2.5% 9.9%
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Fund update

The estimated unaudited net tangible asset value (NTA) after tax as at 30 April 2021 was $2.02[1,3] per unit (31 March 2021 was $1.97[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%).

CD2 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] 2.5% 9.2% 4.9% -2.9% 9.3% 8.7% 9.9%
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On an NTA/Internal Rate of Return (IRR) basis CD2 has achieved a return of 10.3% per annum since inception.

CD2 portfolio asset allocation

LP commitments to underlying managers (US$98.0m)

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Distribution Blue Point
US Select
TechnologySoftware & 4.7% 9.5% 22.5% Business Services Direct $15.0 $5.0 $7.5 CPF DFW
$5.0
Trive
$10.0 High Road
$7.5
Healthcare 22.7%
14.1% Manufacturing Tower Arch $8.0 $7.5 Main Post
$6.5
2.0% $10.0 NMS
Telecommunications 24.5% Tengram $8.0 $8.0
RFE
Consumer & Retail Staple Street
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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 II (Fund or CD2). 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 $2.14 per unit (31 March 2021 was $2.06). Numbers may not add due to rounding.

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