REG-Offer Update

Northern Venture TrustAnnouncement

02/12/2025 07:00

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2 DECEMBER 2025

NORTHERN VENTURE TRUST PLC

OFFER FOR SUBSCRIPTION UPDATE

Further to the announcement made by Northern Venture Trust PLC (“the
Company”) on 24 September 2025 in conjunction with Northern 2 VCT 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 2 VCT PLC to raise a total of up to £10 million closed
to applications on 12 November 2025. The offer by Northern 3 VCT PLC to raise
a total of up to £20 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