Pender Growth Fund

Forward thinking. Finding value.

Pender Growth Fund

Forward thinking. Finding value.

PTF SHARE PRICE

NAV PER CLASS C SHARE

June 30, 2021

Reporting NAV Per Share *$9.83
Deferred Gain (net of fees)($3.62)
IFRS Shareholders’ Equity Per Share$6.21

Reporting NAV – The calculation of Reporting NAV uses two financial measures that are individually recognized under IFRS, assets and liabilities, and adjusts them to include PTF’s proportionate ownership share of PPI’s NAV. PTF acquired its share of PPI’s portfolio at a discount of 43.5% to fair value. Under IFRS, the gain on this acquisition at a discount, is treated as a deferred gain and total shareholders’ equity per share for financial reporting purposes excludes this deferred gain and the deferred gain will be recognized to the extent that it arises from a change in a factor (including time) that market participants would take into account when pricing the investment. We believe that Reporting NAV, which reflects the full value of the day one gain on acquisition of PPI, is a useful indicator of the value and condition of our business. Reporting NAV is a non-IFRS financial measure and does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other reporting issuers. Please refer to the Company’s AIF for more information.

Pender Growth Fund is a taxable Canadian corporation therefore NAV is shown net of current income taxes. However, the NAV does not include potential future taxes associated with unrealized capital gains.

Performance

Review the monthly, rolling and annual performance of Pender Growth Fund. This includes a chart of NAV per Class C share against PTF share price.

PENDER GROWTH FUND

A high conviction public company leveraging our structure to capitalize on long term opportunities in public and private markets.

Reasons to Own

Access to private equity opportunities with public market liquidity

Aligned and proven management team

Unique investment opportunity not available to most investors

Non-correlated asset classes

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PUBLIC AND PRIVATE EQUITY EXPERTISE

Meet the Team

A talented investment team of expert public and private technology investors with decades of experience, looking to invest in unique situations in small but profitable companies that have hit an inflection point.