ECP EMERGING GROWTH LIMITED — Net Asset Value 2023

Dec 5, 2023

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6 December 2023

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 2023

The unaudited NTA backing per share of the Company at 30 November 2023 was as follows:

	Before estimated taxon unrealisedgains	After estimated tax onunrealisedgains
at 30 November 2023	146.0 c	144.8 c
at 31 October 2023	130.4 c	130.3 c

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 30 November 2023 were as follows:

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----- Start of picture text ----- Name of Company Percentage of Total PortfolioGQG Partners Inc. 8.0 %IDP Education Ltd 7.7 %HUB24 Ltd 7.4 %Domino Pizza Enterprises 6.4 %Wisetech Global Ltd 5.5 %Total Top 5 Equity Investments 35.0 %----- 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 Tel: +61 2 8651 6800 Level 4 The Pavilion, 388 George Street Fax: +61 2 8651 6899 Sydney NSW 2000 Australia

ACN: 167 689 821