ECP EMERGING GROWTH LIMITED — Net Asset Value 2016

Jan 7, 2016

8 January 2016 Company Announce m ents Offi ce Australia n Stock Ex change Exchange Centre Level 6, 2 0 Bridge S treet SYDNEY NSW 1 215

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S u i t ee 3 0 5 , L e v e l 3 3 4 3 GG e o r g e S t r e e t S Y D NN E Y N S W 2 0 0 0 T e l : 00 2 8 6 5 1 6 8 0 0 F a x : 0 2 8 6 5 1 6 8 9 9 P O BB 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

Net Tangi ble Asset Backing a t 31 Dece mber 2015 The unau d ited NTA of the Co m pany was as follow s :

	Befo estimat on unre gain re ed tax alised s		After estimated on unreal gains tax ised
a a a t 31D t 30N t 30J ecember ovember une 2015 2015 2015	121.1 118.2 96.38 0 c 0 c c		113.90 113.60 96.17 c c c

The NTA per share of the co m pany incr eased at 3 1 Decemb e r 2015 co mpared to the previ o us month-en d . Since 3 0 June 201 5 the Com p any has s hown an i n crease in NTA in ex cess of 18 %.

Since lis t ing we h ave inves t ed the f u nds in c o mpanies that meet our fina n cial metr ics including organic s ales grow th, earnin gs and di v idend gr o wth and w hich we believe w ill provide t h e impetus for an improvemen t in valuat i ons over o ur three y ear time h orizon. T he three maj o r investm ents in th e portfolio at the end of November were S EEK, Platinum A sset Man agement a n d Carsale s.com wit h cash co m prising 2 % of the p o rtfolio.

The top 5 investme n ts of the c ompany a t 31 Decem ber 2015 were:

Nam e of com	pany	pany	% of total value of portfolio
REA Grou p			8.37 %
IPH Limite d			8.19 %
Platinum Asset Mana		gement	7.77 %
Car Sales .com			7.62 %
CatapultG rp Int Ltd			6.91 %

For furth e r informa t ion please call the C ompany S ecretary o n (02) 881 5 5400.

Yours fai t hfully, BARRAC K ST INV ESTMENTS LIM ITED

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Brian Jo nes Company Secretar y