ECP EMERGING GROWTH LIMITED — Net Asset Value 2022

Sep 1, 2022

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2 September 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 August 2022

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

	Before estimated taxon unrealisedgains	After estimated tax onunrealisedgains
at 31 August 2022	136.1c	136.1c
at 31 July2022	138.1c	138.1c

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.

On the 25th of August 2022 the Company announced its FY2022 Final Dividend of 2.75 cents per share. The dividend is fully franked and 100% attributable to LIC Capital Gains. The provision for this payment to Shareholders is reflected in the reduction in Net Tangible Assets at the end of August.

The top five investments of the Company at 31 August 2022 were as follows:

Name of Company	Percentage of Total Portfolio
GQG Partners Inc.	9.2 %
Lovisa Holdings Limited	9.2 %
REA Group	6.6 %
Domino’s Pizza Enterprises Limited	6.2 %
IdpEducation Ltd	5.9 %
Total Top 5 Equity Investments	37.1 %

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