ECP EMERGING GROWTH LIMITED — Net Asset Value 2016

Mar 8, 2016

S u i t e 3 0 5 , L e v e l 3 3 4 3 G e o r g e S t r e e t S Y D N E Y N S W 2 0 0 0 T e l : 0 2 8 6 5 1 6 8 0 0 F a x : 0 2 8 6 5 1 6 8 9 9 P O B O X R 8 4 8 R o y a l E x c h a n g e N S W 1 2 2 5

9 March 2016

Company Announcements Office Australian Stock Exchange Exchange Centre Level 6, 20 Bridge Street SYDNEY NSW 1215

Net Tangible Asset Backing at 29 February 2016

Th e u n aud i ted N TA o f t h e Co m pa n y was as f o ll ows:

	Beforeestimated taxon unrealisedgains	Afterestimated taxon unrealisedgains
at 29 February 2016at 31 January 2016	112.73 c116.31 c	108.74 c110.64 c

The NTA per share of the company decreased at 29 February 2016 compared to the previous month-end. However since 30 June 2015 the Company has shown an increase in NTA in excess of 12%.

Since listing we have invested the funds in companies that meet our financial metrics including organic sales growth, earnings and dividend growth and which we believe will provide the impetus for an improvement in valuations over our three year time horizon. The three major investments in the portfolio at the end of February 2016 were CAT, Carsales.com and Blue Sky Limited with cash comprising 8% of the portfolio.

The top 5 investments of the company at 29 February 2016 were:

Name of company	% of total value of portfolio
Catapult Grp Ltd	8.87 %
Carsales.com Ltd	8.18 %
Blue Sky Limited	6.95 %
Trade Me Group	6.73 %
AUB Group Ltd	6.17 %

For further information please call the Company Secretary on (02) 8815 5400.

Yours faithfully,

BARRACK ST INVESTMENTS LIMITED

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Brian Jones

Company Secretary