Publication of a supplementary prospectus

Downing FOUR VCT plc (“the Company")
LEI: 21380035MV1VRYEXPR95
22 September 20 2 1
P ublication of Supplementary P rospectus

The Company has today issued a supplementary prospectus (the "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 Supplementary Prospectus is supplemental to, and should be read in conjunction with, the prospectus published by the Company on 12 August 2021.

The Supplementary Prospectus has been issued following changes to the Board of Directors of Downing FOUR VCT plc announced on 8 September 2021 and includes details of the new Directors who have joined the Board (including their shareholding, current and previous directorships, service contracts, and description of their CVs) and also notes the departure of another Director from the Board.

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 29 September 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 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 Supplementary Prospectus and 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/d4supplementary