Ann: Investment Update and NTA October 2023, page-5

Hi,

I recognise that the remuneration report is a Furphy as all the staff reside within Karls group, but a No Vote on this resolution represents a protest. A method of showing our discontent.

Below are the questions that I have requested are raised at the AGM.

I have also spoken with Wayne Davies and requested that they consider that the next AGM be online. They cannot fix for the coming meeting, but assess for the future.

Thefund has under performed for many years. What steps are CDM undertaking torectify?

Thereis a major difference between the NTA share value and the share price. What arethe key contributing causes.

Doyou believe that the market has lost confidence in the CDM product?

Hasthe KS management team been affected by staff departures? If so please providedetails of the organisational changes that have occurrred.

Themarket appears thin even with the opportunity of the value gap. How doesCDM propose to use this opportunity to the value of all shareholders.

Hasthe CDM management and board team reviewed whether a wind up of the fund wouldbenefit all stakeholders? If so what was the outcome?

Whatwould be the financial impact on shareholders, should the fund be wound up?