Hi Volf I agree very closely with your numbers Cash balances...

Hi Volf I agree very closely with your numbers

	Cash balances A$m	CD1	CD2	CD3	notes
1	Held at Fund level at 30 June A$mA	4.6	11.0	24.7	Deloitte
2
3	Cash held as share of partnership assets A$m equivalent	8.5	22.1	28.5	Kroll 8.4/9.4/10.4
4	Cash distributed by partnership to Fund after 30 June B	(4.4)	(14.7)	(20.6)	A$ equivalent using guess FX rate of 0.68US$3m/10m/14m per section 5.7
5	Residual share of cash held via p’ship A$m	4.1	7.4	7.9
6
7	New cash held at Fund level after transfers = A + B	9.0	25.7	45.3
8	Less distribution to unitholders from CD3 after 30 June	n/a	n/a	(17.4)	Paid on 19 August 2022, accrued in 30 June balance sheet as a creditor 24.1cents per unit
9	Net cash at Fund level A$m	9.0	25.7	27.9
10	Number of units at 30 June	36.6m	52.5m	72.0m	Per Kroll
11	Net cash at Fund level cents per unit	24.6c	49.0c	38.8c

Figures in red show cash per unitheld at the Fund level, and after allowing for the CD3 distribution paid in August

Figures in blue show there is stillsubstantial cash held as the Funds’ share of cash in the partnerships- morethan enough to meet any further uncalled capital commitments and capital recyclingin US LPs. But NB E+ P says it has no power to direct the LPs to distributesuch cash up to the Funds.