Statement regarding intention to fund raise

19 JULY 20 21

NORTHERN 2 VCT PLC

STATEMENT REGARDING INTENTION TO FUND RAISE

Northern 2 VCT PLC (“the Company”) is pleased to announce that, subject to obtaining the requisite shareholder and regulatory approvals, it intends, in conjunction with Northern Venture Trust PLC and Northern 3 VCT PLC, to launch linked offers for subscription in the 2021/2022 tax year (the "Offers") with the intention to raise up to £50 million across the linked Offers.

Full details of the Offers will be announced in due course. It is expected that a prospectus will be published by the Company in early January 2022, which will be available on the Mercia Asset Management PLC website (https://www.mercia.co.uk/vcts/).

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 or 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.