• Portfolio performance of 2.4% below ASX Small Ordinaries Index of 9.2%
• Dividends paid of $1.01 per share and convertible note amortisation of $1.09 per share
• Prepared to deploy cash as opportunities arise and expects to return to benchmark-beating returns

ECP Emerging Growth Limited reported a portfolio performance of 2.4% for the financial year, below the ASX Small Ordinaries Index which increased by 9.2%. This underperformance was driven by specific investments impacted by macro-driven factors, not a change in the investment process or a decline in expected future returns. After an exceptionally good year in FY2024, the FY2025 Comprehensive Income was a loss of $724,375, solely due to the 2.4% portfolio performance. The main drivers of the NTA reduction were dividends paid of $1.01 per share and convertible note amortisation of $1.09 per share. Despite the volatile market conditions, the investment manager adhered to their valuation-driven portfolio construction process, reallocating capital towards companies with more attractive prospective returns. ECP Emerging Growth holds a high percentage cash position and is prepared to deploy as opportunities arise, fully expecting to return to benchmark-beating returns in future years.

No high-importance, price-sensitive forward-looking financial metrics provided.

ECP Emerging Growth holds a high percentage cash position and is prepared to deploy as opportunities arise, fully expecting to return to benchmark-beating returns in future years.