Issue of Equity

Downing FOUR VCT plc
LEI: 21380035MV1VRYEXPR95
4 November 2019
Issue of Equity

The Directors of Downing FOUR VCT plc (“the Company”) announce allotments of Generalist Shares of 0.1p each (“Generalist Shares”) and Healthcare Shares of 0.1p each (“Healthcare Shares”) pursuant to the Offers for Subscription that opened on 14 November 2018 (“Offers”) as follows:

Date	Generalist Shares	Average issue price		Healthcare Shares	Average issue price
4 November 19	1,112,740	80.36p		439,162	80.77p

Also under the Offers, and pursuant to the Performance Incentive arrangements outlined in the Prospectus dated 14 November 2018, the Directors of the Company announce allotments of Generalist “Management Shares” of 0.1p each and Healthcare “Management Shares” of 0.1p each, as follows:

Date	Generalist “Management Shares”	Average issue price		Healthcare “Management Shares”	Average issue price
4 November 19	3,728,517	0.1p		1,611,901	0.1p

Application for the 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 will be made shortly. Dealings are expected to commence on or around 8 November 2019.

Following these allotments, the issued share capital and total voting rights of the Company are summarised follows:

	Shares in issue	Voting rights per share	Voting rights
DSO D Shares of 0.1 pence each	7,867,247	463	3,642,535,361
DP2011 General Ordinary Shares of 0.1 pence each	15,644,066	213	3,332,186,058
DP2011 General A Shares Shares of 0.1 pence each	18,418,614	113	2,081,303,382
DP2011 Structured Ordinary Shares of 0.1 pence each	10,678,725	219	2,338,640,775
DP2011 Structured A Shares of 0.1 pence each	12,572,817	113	1,420,728,321
DP67 Ordinary Shares of 0.1 pence each	11,192,136	750	8,394,102,000
Generalist Shares of 0.1 pence each	56,081,958	1,146	64,269,923,868
Healthcare Shares of 0.1 pence each	23,027,361	1,146	26,389,355,706
Total voting rights			111,868,775,471