Publication of a further supplementary prospectus

Downing FOUR VCT plc (“the Company")
1 October 2021
LEI: 21380035MV1VRYEXPR95
Publication of Further Supplementary Prospectus

The Company has today issued a further supplementary prospectus (the "Further Supplementary Prospectus") relating to the offer for subscription (the “Offer”), launched by the Company on 12 August 2021, to raise up to £10 million (with an over-allotment facility for up to a further £15 million) in each of three classes of shares – Ventures Shares of 0.1p each (renamed from Generalist Shares, following the General Meeting of the Company, held on 21 September 2021), Healthcare Shares of 0.1p each and a newly created class of AIM Shares of 0.1p each (“New Shares”). The Further Supplementary Prospectus is supplemental to, and should be read in conjunction with, the prospectus published by the Company on 12 August 2021 (“Prospectus”) and the supplementary prospectus published on 22 September 2021.

The Further Supplementary Prospectus has been issued following the material increases in the unaudited Net Asset Value (“NAV”) of the Ventures Share and Healthcare Share portfolios (compared to the 31 July 2021 unaudited NAVs reported in the Prospectus), as announced on 22 September 2021.

Investors who have already submitted applications for New Shares, which have been received on behalf of the Company, may withdraw such applications with respect to the Offer, with the Company accepting withdrawals of such applications until 5:30 p.m. on 8 October 2021. Investors should seek their own legal advice in regard to such withdrawal rights. Investors who wish to withdraw their applications under the Offer should contact Downing on 020 7416 7780 or [e-mail] (no legal, tax or investment advice can be given).

The Further Supplementary Prospectus has been approved by the Financial Conduct Authority and will shortly be available to view at the online viewing facility of the National Storage Mechanism at the following website address: data.fca.org.uk/#/nsm/nationalstoragemechanism

Copies of the Further Supplementary Prospectus (along with the supplementary prospectus published on 22 September 2021 and the Prospectus) are available, free of charge from the Company's registered office, St. Magnus House, 3 Lower Thames Street, London EC3R 6HD and on Downing's website at www.downing.co.uk/assets/d4supplementary2 or www.downing.co.uk/d4.