ECP EMERGING GROWTH LIMITED — Net Asset Value 2020

Mar 5, 2020

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EMERGING GROWTH LIMITED

ABN 30 167 689 821 Suite 305, Level 3 343 George Street SYDNEY NSW 2000

6 March 2020

Telephone 1800 352 474 Facsimile 02 8651 6899

The Manager Company Announcements Office ASX Ltd, Exchange Centre Level 6, 20 Bridge Street SYDNEY NSW 2000

Dear Sir

Net Tangible Assets (NTA) per share & Top 5 Investments – 29 February 2020

The unaudited NTA backing per share of the Company at 29 February 2020 was as follows:

	Beforeestimated tax onunrealised gains	Afterestimated tax onunrealised gains
at 29 February2020	128.8c	125.5c
at 31 January2020	142.6c	135.3c

The NTA figures shown above are before and after the provision for deferred tax on the unrealised gains in the Company’s investment portfolio. The Company is a long-term equity investor and does not intend to dispose of its total portfolio.

The top five investments of the Company at 29 February 2020 were as follows:

Name of Company	Percentage of Total Portfolio
AfterpayLimited	9.88 %
SEEK Limited	6.37%
Megaport Limited	5.80 %
Costa GroupHoldings	5.54%
Domino Pizza Enterprises	5.50 %
Total Top 5 Equity Investments	33.09 %

If you have any questions, please call the Company Secretary on 1800 352 474.

Yours sincerely

ECP EMERGING GROWTH LIMITED

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Authorised by Brian Jones Company Secretary