| Performance to 29 Feb-24 | FX rates for NAV at Feb-24 |
| 337 Frontier Capital – Kimberlite Frontier Africa Fund | NGN – ave of SEPL & AAF implied rates; EGP – Bloomberg spot |
| Allan Gray Africa ex ZA Equity Fund | NGN – Nafex; EGP – Bloomberg spot; |
| Coronation Africa Frontiers Fund | NGN – SEPL implied rate; EGP – CIB implied rate; ZWD – 50% spot haircut |
| Laurium Capital Limpopo | NGN – Bloomberg spot; EGP – street rate per egcurrency.com |
| Mazi Capital Africa Fund | NGN – Nafex; EGP – Bloomberg spot |
| Old Mutual Frontiers Africa Fund | NGN – ave SEPL & AAF implied rates; EGP – CIB implied rate |
| Sanlam Africa Equity Fund | NGN – ave SEPL & AAF implied rates; EGP – CIB implied rate |
| Steyn Capital Africa Fund | NGN – SEPL implied rate; EGP – Bloomberg spot |
| Sustainable Capital Africa Alpha Fund | NGN – Nafex; EGP – Bloomberg spot |
| TCM Africa Frontiers Fund | NGN – Nafex; EGP – Bloomberg spot |
