CD PRIVATE EQUITY FUND II — Net Asset Value 2024

Sep 12, 2024

13 September 2024

CD PRIVATE EQUITY FUND II: ASX: CD2

NET TANGIBLE ASSET UPDATE – 31 AUGUST 2024

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Gross assets Distributions Distributions 5 year NTA
NTA per unit Fund Inception
(million) Last 12 months Since Inception return
$1.36 $77.0 $0.12 per unit $2.38 per unit April 2013 5.8% p.a.
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The estimated unaudited net tangible asset value (NTA) after tax as at 31 August 2024 was $1.36[1,3] per unit (31 July 2024 was $1.45[1,3] per unit).

The net asset value movement recorded during the month is the result of foreign exchange movements, with the Australian dollar strengthening by 3.4% during the month of August, as well as the adoption of all quarterly valuations for the period ended 30 June 2024. Both of these events had a negative impact on the Fund’s monthly NTA movement. The Fund also made payment of a $0.07 per unit distribution to Unitholders during the month.

PERFORMANCE SUMMARY

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1 month 6 months 1 year 3 years p.a. 5 years p.a. Since Inception p.a.
NTA Return [1,2]
-6.2% -8.6% -12.4% 3.6% 5.8% 9.9%
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The Australian dollar has strengthened against the US Dollar over the last 12-months by 4.3% which, alongside the adoption of underlying portfolio valuations, has been a key contributor to the recent negative NTA performance. On an NTA/Internal Rate of Return (IRR) basis, CD2 has achieved a return of 11.0% per annum since inception.

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Authorised for release by K2 Asset Management Ltd (K2) (ACN 085 445 094, AFSL 244 393), the responsible entity of CD Private Equity Fund II (Fund or CD2). Notes: AUD:USD spot rate of 0.6765 as at 31 August 2024. 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. Total returns are inclusive of distributions and based on the Fund’s post tax NTA;

2. Estimated unaudited net tangible asset value before tax at 31 August 2024 of $1.46 per unit (31 July 2024 was $1.56).

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

ARSN: 162 057 089

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13 September 2024

CD PRIVATE EQUITY FUND II: ASX: CD2

MONTHLY LP & FUND UPDATE

During the month, the LP did not receive any capital call notices or any distributions.

We wish to thank Unitholders who attended the recent webinar hosted by K2 and Jonathan Sinex of Cordish Equity Partners. For those who were unable to attend, you may find a recorded version of the Webinar here . As always, Unitholders are welcome to reach out to the team with any questions via email at cdfunds@k2am.

Authorised for release by K2 Asset Management Ltd (K2) (ACN 085 445 094, AFSL 244 393), the responsible entity of CD Private Equity Fund II (Fund or CD2). Notes: AUD:USD spot rate of 0.6765 as at 31 August 2024. 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;

2. Total returns are inclusive of distributions and based on the Fund’s post tax NTA;

3. Estimated unaudited net tangible asset value before tax at 31 August 2024 of $1.46 per unit (31 July 2024 was $1.56).

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

ARSN: 162 057 089 Page 2