REG-Offer For Subscription Update

Northern 2 VCTAnnouncement

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9 MARCH 2026

NORTHERN 2 VCT PLC

OFFER FOR SUBSCRIPTION UPDATE

Further to the announcements made by Northern 2 VCT PLC (“the Company”) on
24 September 2025 and 8 December 2025 in conjunction with Northern Venture
Trust PLC and Northern 3 VCT PLC, in respect of the offers of new ordinary
shares for subscription in the 2025/26 tax year, the Company announces that
its offer of new ordinary shares to raise a total of up to £20 million is now
fully subscribed and no further applications will be accepted.

The offer by Northern 3 VCT PLC to raise a total of up to £30 million in the
2025/26 tax year remains open for subscription and will close when fully
subscribed, but in any case, no later than 12 noon on 31 March 2026 and
subject to the Directors’ right to close the offers at any time.

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited - 0330 223 1430

Website: www.mercia.co.uk/vcts

The contents of the Mercia Asset Management PLC website and the contents of
any website accessible from hyperlinks on the Mercia Asset Management PLC
website (or any other website) are not incorporated into, nor form part of,
this announcement