CD PRIVATE EQUITY FUND III — Net Asset Value 2024

Oct 13, 2024

14 October 2024

CD PRIVATE EQUITY FUND III: ASX: CD3

NET TANGIBLE ASSET UPDATE – 30 SEPTEMBER 2024

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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$1.71 $128.4 $0.25 per unit $1.909 per unit July 2016 17.2%----- End of picture text -----

The estimated unaudited net tangible asset value (NTA) after tax as at 30 September 2024 was $1.71[1,3] per unit (31 August 2024 was $1.73[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 2.2% during the month of September.

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]-1.2% -2.3% -3.6% 11.1% 17.2% 13.0%----- End of picture text -----

The Australian dollar has strengthened against the US Dollar over the last 12-months by 7.4% which has been a key contributor to the recent negative NTA performance. On an NTA/Internal Rate of Return (IRR) basis, CD3 has achieved a return of 13.0% per annum since inception.

MONTHLY LP & FUND UPDATE

During the month, the LP received four capital calls for a total of US$0.16m, predominantly used to fund underlying partnership fees and management expenses. One of the capital calls will also be directed toward an investment existing portfolio company, Cordial (2018 investment), which is a leading provider of adaptive messaging solutions, enabling enterprise clients to deliver highly-personalized communications to customers across channels and devices at scale, based on real-time data. The company, noted as one of America’s fastest growing companies, continues to expand its customer base, onboarding countless large brands, including Realtor.com and PacSun.

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 III (Fund or CD3). Notes: AUD:USD spot rate of 0.6913 as at 30 September 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 30 September 2024 of $1.73 per unit (31 August 2024 was $1.77).

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

ARSN: 612 132 813

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