ECP EMERGING GROWTH LIMITED — Net Asset Value 2023

Nov 2, 2023

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3 November 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 – 31 October 2023

The unaudited NTA backing per share of the Company at 31 October 2023 was as follows:

	Before estimated taxon unrealisedgains	After estimated tax onunrealisedgains
at 31 October 2023	130.4 c	130.3 c
at 30 September 2023	143.7 c	143.4 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 31 October 2023 were as follows:

Name of Company	Percentage of Total Portfolio
IDP Education Ltd	9.3 %
GQG Partners Inc.	7.5 %
HUB24 Ltd	7.3 %
Domino Pizza Enterprises	6.6 %
Carsales.Com Ltd	5.9 %
Total Top 5 Equity Investments	36.6 %

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 ACN: 167 689 821 Fax: +61 2 8651 6899