REG-Issue of Equity and Total Voting Rights

Northern 3 VCTAnnouncement

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2 APRIL 2026

NORTHERN 3 VCT PLC

ISSUE OF EQUITY AND TOTAL VOTING RIGHTS

Northern 3 VCT PLC (“the Company”) announces that on 2 April 2026 it
allotted 20,180,102 ordinary shares of 5p each in respect of the offer of new
ordinary shares for subscription in the 2025/26 tax year, pursuant to the
prospectus published on 17 September 2025 (the “Prospectus”) and the
supplemental prospectus published on 18 December 2025. In accordance with the
Pricing Formula set out in the Prospectus, the new ordinary shares were issued
at prices between 88.92 pence per share and 94.38 pence per share depending on
the level of Promoter’s Fee and Adviser Charge (if applicable) pertaining to
each application.

The aggregate of the subscription amounts paid to the Company pursuant to the
Offer, net of applicable fees and Adviser Charges, was £17,637,924.71.
Following the above allotment, the Company now has 177,825,109 ordinary shares
in issue.

An application will be made at the earliest practicable opportunity for the
new ordinary shares, which will rank pari passu with the existing ordinary
shares, to be admitted to the Official List of the Financial Conduct Authority
(“the FCA”) and to trading on the London Stock Exchange’s market for
listed securities, and dealings are expected to commence on or around 7 April
2026.

In conformity with the FCA’s Disclosure Guidance and Transparency Rules (the
“DTRs”), the Company notifies the market that the capital of the Company
consists of 177,825,109 ordinary shares with a nominal value of 5p each. All
the ordinary shares have voting rights. The Company does not hold any ordinary
shares in treasury. The total number of voting rights in the Company is
therefore 177,825,109 (“the Figure”). The Figure may be used by a
shareholder or other person as the denominator for the calculations by which
they will determine if they are required to notify the voting rights they hold
in relation to the Company, or a change to those voting rights, under the
DTRs.

Defined terms in this announcement have the same meaning as in the Prospectus.

Enquiries:

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

Website: www.mercia.co.uk/vcts

Neither the contents of the Mercia Asset Management PLC website, nor the
contents of any website accessible from hyperlinks on the Mercia Asset
Management PLC website (or any other website), are incorporated into, or form
part of, this announcement