ECP EMERGING GROWTH LIMITED — Net Asset Value 2022

Nov 3, 2022

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4 November 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 – 31 October 2022

The unaudited NTA backing per share of the Company at 31 October 2022 was as follows:

	Before estimated taxon unrealisedgains	After estimated tax onunrealisedgains
at 31 October 2022	130.2c	130.2c
at 30 September 2022	117.0c	117.0c

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 31 October 2022 were as follows:

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----- Start of picture text ----- Name of Company Percentage of Total PortfolioDomino’s Pizza Enterprises Limited 8.1 %GQG Partners Inc. 8.0 %Lovisa Holdings Limited 6.7 %REA Group 6.6 %HUB24 Ltd 6.5 %Total Top 5 Equity Investments 35.9 %----- End of picture text -----

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