Offer Update

20 FEBRUARY 2020

NORTHERN VENTURE TRUST PLC

OFFER FOR SUBSCRIPTION UPDATE

Further to the announcement made by Northern Venture Trust PLC (“NVT”) on 10 January 2020 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 2019/20 tax year, NVT announces that its offer of new ordinary shares to raise a total of up to £13.3 million is now fully subscribed and no further applications will be accepted.  It is expected that the allotment of new ordinary shares will be completed no later than 1 April 2020 and that admission to the Official List will become effective and dealings in the new ordinary shares will commence three business days after the date of allotment.

The offers by N2VCT and N3VCT to raise a total of up to £13.3 million each in the 2019/20 tax year remain open for subscription and will close when fully subscribed, but in any case no later than 1 April 2020.

Enquiries:

Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000

Website:  www.nvm.co.uk

Martin Glanfield, Chief Financial Officer Mercia Asset Management PLC - 0330 223 1430

Website: www.mercia.co.uk

Neither the contents of the NVM Private Equity LLP or the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC website (or any other website), is incorporated into, or forms part of, this announcement.