REG-Proposed increase in size of offer for subscription and re-opening of offer for subscription to further applications

Northern Venture TrustAnnouncement

Mon 11:00

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8 DECEMBER 2025

NORTHERN VENTURE TRUST PLC

PROPOSED INCREASE IN SIZE OF OFFER FOR SUBSCRIPTION AND RE-OPENING OF OFFER
FOR SUBSCRIPTION TO FURTHER APPLICATIONS

Further to the announcement made by Northern Venture Trust PLC (“the
Company”) on 17 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 is pleased to announce that
it intends, due to strong investor demand, to increase the size of the Offer
(inclusive of already-utilised over-allotment facilities) from £20 million to
£30 million in the 2025/2026 tax year and to reopen the Offer to further
applications on a date to be announced.

Applications for new shares in the Company will be dealt with on a
“first-come, first-served” basis. In recognition of the loyalty of the
Northern VCT shareholders, existing shareholders on the register of members of
any of the Northern VCTs as at 16 June 2025, along with their spouse or civil
partner, whose applications for shares in any of the Northern VCTs are
accepted, will benefit from a reduction of 0.5% in the offer costs applicable
to their subscription. The Offers will remain open until 12 noon on 31 March
2026, unless fully subscribed at an earlier date and subject to the
Directors’ right to close the Offers at any time.

A downloadable version of the prospectus relating to the Offers is available
from: www.mercia.co.uk/vcts. Additionally, a copy is available free of charge,
from the Company’s registered office at Forward House, 17 High Street,
Henley-in-Arden B95 5AA or by calling Mercia on 0330 223 1430.

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