Offer Update

1 3 JAN UARY 202 2

NORTHERN VENTURE TRUST PLC

OFFER FOR SUBSCRIPTION UPDATE

Further to the announcement made by Northern Venture Trust PLC (“NVT”) on 10 January 2022 in conjunction with Northern 2 VCT PLC (“N2VCT”) and Northern 3 VCT PLC (“N3VCT”) in respect of the offers of new ordinary shares for subscription in the 2021/22 tax year, NVT announces that its offer of new ordinary shares to raise a total of up to £6.0 million is now fully subscribed and no further applications will be accepted.

The offers by N2VCT and N3VCT to raise a total of up to £17.0 million each in the 2021/22 tax year remain open for subscription and will close when fully subscribed, but in any case no later than 12 noon on 31 March 2022.

Enquiries:

Graham Venables/James Sly, Mercia Fund Management Limited - 0330 223 1430
Website: www.mercia.co.uk

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

The contents of the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are incorporated into, or forms part of, this announcement.