ECP EMERGING GROWTH LIMITED — Net Asset Value 2023

Mar 6, 2023

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7 March 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 – 28 February 2023

The unaudited NTA backing per share of the Company at 28 February 2023 was as follows:

	Before estimated taxon unrealisedgains	After estimated tax onunrealisedgains
at 28 February2023	136.3c	136.3c
at 31 January2023	145.4c	145.4c

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 17[th] February 2023, ECP Emerging Growth announced an interim dividend of 2.2 cents per share. The interim dividend is to be paid on 09 March 2023 and represents a 4.8% increase on the prior year interim dividend. The NTA above has been adjusted for the 2.2 cent per share dividend.

The top five investments of the Company at 28 February 2023 were as follows:

	Name of Com	pany	Perce	ntage of Total Portfolio
	Hub24 Ltd			8.7 %
	GQG Partners	Inc.		8.2 %
	Corporate Tra	vel Limited		8.1 %
	REA Group			7.6 %
	Lovisa Holdin	s Limited		66 %
			.
	Total Top 5 Equity Investments		39.2 %

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