Statement regarding intention to fund raise

23 November 20 22

NORTHERN VENTURE TRUST PLC

STATEMENT REGARDING INTENTION TO FUND RAISE

Northern Venture Trust PLC (“the Company”) is pleased to announce that, subject to obtaining the requisite regulatory approvals, in conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC (together with the Company known as the “Northern VCTs”), it intends to launch a linked non-prospectus top up offer for subscription in the 2022/2023 tax year to raise up to £6 million in each of the Northern VCTs (the “Offers”).

Full details of the Offers will be announced in due course. It is expected that an offer document will be published by the Company in January 2023, which will be available on the Mercia Asset Management PLC website.

Subject to the requisite shareholder and regulatory approvals, the Company also intends to raise further funds in the 2023/2024 tax year, with full details to be announced in due course.

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited - 0330 223 1430

Website: www.mercia.co.uk/vcts

Neither 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 form part of, this announcement.