EXCELSIOR CAPITAL LTD — Net Asset Value 2024

Mar 13, 2024

Excelsior Capital Limited ABN 98 050 542 553

Level 29, Chifley Tower, 2 Chifley Square Sydney, NSW, 2000

Telephone: (02) 9216 9043

Email: corporate@excelsiorcapital.com.au www.excelsiorcapital.com

14 March 2024

ASX ANNOUNCEMENT

Excelsior Capital Limited (ASX: ECL)

Monthly reported Net Tangible Assets (NTA) backing per share as at 28 February 2024

Net Tangible Assets per ordinary share:	Cents
NTA before all taxes1	413.87
NTA after providing for all taxes²	397.78

1. The calculation of the NTA backing per share (before all taxes) is an estimate based on ECL’s unaudited Financial Reports as at 29 February 2024. This includes the majority of the settlement of the sale of ECL’s subsidiary, CMI Operations Pty Ltd (CMI) (refer to ASX announcement dated 1 February 2024). The NTA for February also includes provision for the interim dividend of 3.5 cents per share payable on 20 March 2024 amounting to $1,014,806 and the majority of final costs incurred on the sale of CMI. ECL may be entitled to a further deferred sale consideration of up to $8.9 million under an earn-out agreement and post-sale working capital adjustments.

2. Company provides the NTA after providing for estimated income tax and the capital gains tax (CGT) in respect of the sale of CMI. Final CGT will be calculated post 30 June 2024 and once results are known with respect to any earn-out entitlement from the sale of CMI.

For further information, please contact:

Danny Herceg Chairman +61 (02) 9216 9043

Disclaimer:

This announcement has been prepared as general information only and it not intended to provide financial advice or take into account your objectives, financial situation or needs. You should consider any decision to invest with a financial adviser, whether the information is suitable for your circumstances before making any investment decisions. Past performance is no guarantee of future results.

About Excelsior (ASX: ECL): Excelsior or ECL is a Listed Investment Entity, originally established in 1991, and listed on the ASX in 1993. Excelsior Capital Limited’s previous operations comprised of the design and distribution of electrical components and cables for resource and infrastructure applications through its Electrical Division and an investment portfolio. Excelsior entered into a Share Sale and Purchase Agreement for the sale of 100% of the issued capital of CMI Operations Pty Ltd, which owns the Electrical Division, which was sold to the IPD Group on 31 January 2024 and announced to ASX on 1 February 2024.

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