REG-Offer Update

Northern Venture TrustAnnouncement

Mon 13:00

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23 FEBRUARY 2026

NORTHERN VENTURE TRUST PLC

OFFER FOR SUBSCRIPTION UPDATE

Further to the announcements made by Northern Venture Trust PLC (“the
Company”) on 24 September 2025 and 8 December 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 £30
million is now fully subscribed and no further applications will be accepted.

The offers by Northern 2 VCT PLC and Northern 3 VCT PLC to raise a total of up
to £20 million and £30 million respectively in the 2025/26 tax year remain
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