Issue of Equity

10 SEPEMBER 2021

NORTHERN 2 VCT PLC

ISSUE OF EQUITY

Northern 2 VCT PLC (“the Company”) announces that on 10 September 2021 it allotted 2,144,496 ordinary shares of 5p each to shareholders who agreed to subscribe for shares under the terms of the Company's Dividend Investment Scheme. The subscription price was 66.7p per share. Following the above allotment, there are 163,144,147 ordinary shares in issue.

Application will be made at the earliest practicable opportunity for these shares, which will rank pari passu with existing ordinary shares, to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities, and dealings are expected to commence by 20 September 2021.

In conformity with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (the “DTRs”), the Company notifies the market that the capital of the Company as at 10 September 2021 consists of 163,144,147 ordinary shares with a nominal value of 5p each. All the ordinary shares have voting rights. The Company does not hold any shares in treasury. The total number of voting rights in the Company is therefore 163,144,147 (“the Figure”). The Figure may be used by a shareholder or other person as the denominator for the calculations by which he will determine if he is required to notify the voting rights he holds in relation to the Company, or a change to those voting rights, under the DTRs.

Enquiries:

Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000
Website: www.nvm.co.uk

Martin Glanfield, Chief Financial Officer Mercia Asset Management PLC - 0330 223 1430
Website: www.mercia.co.uk

Neither the contents of the NVM Private Equity LLP nor the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC website (or any other website), is incorporated into, or forms part of, this announcement.