ECP EMERGING GROWTH LIMITED — Net Asset Value 2022

Dec 1, 2022

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2 December 2022

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 – 30 November 2022

The unaudited NTA backing per share of the Company at 30 November 2022 was as follows:

			Before estimated tax	After estimated tax on
			on unrealisedgains	unrealisedgains
at	30	November 2022	139.7c	139.7c
at	31	October 2022	130.2c	130.2c

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.

For the financial year to date, ECP Emerging Growth’s NTA has grown by 20.6% compared to the ASX All Ordinaries Index which has increased by 10.9%.

The top five investments of the Company at 30 November 2022 were as follows:

Name of Company	Percentage of Total Portfolio
REA Group	9.2 %
Domino’s Pizza Enterprises Limited	8.9 %
GQG Partners Inc.	7.8 %
Corporate Travel Limited	7.2 %
HUB24 Ltd	6.6 %
Total Top 5 Equity Investments	39.7 %

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

Yours sincerely

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Scott Barrett Company Secretary

ECP EMERGING GROWTH LIMITED

Authorised for release by the Board.

Redefining Active Investing ecpam.com/emerging

ECP Emerging Growth Limited Level 4 The Pavilion, 388 George Street Sydney NSW 2000 Australia

Tel: +61 2 8651 6800 Fax: +61 2 8651 6899

ACN: 167 689 821