Publication of Prospectus

Core Points - Northern Venture Trust PLC, along with Northern 2 VCT PLC and Northern 3 VCT PLC, has published a prospectus for new ordinary shares subscription in the 2024/25 tax year, aiming to raise a total of £36 million [1] - The subscription offers will open on 14 January 2025 and will be available on a first-come, first-served basis, with existing shareholders receiving a 0.5% reduction in offer costs [2] - Mercia Fund Management Limited will receive a fee of 2.5% of gross proceeds for subscriptions received directly or through a financial adviser, and 5% for those through execution-only platforms, with discounts for existing shareholders [3] Offer Details - The total amount targeted for the Offers is £36 million, with £15 million for Northern Venture Trust PLC and Northern 2 VCT PLC each, and £6 million for Northern 3 VCT PLC [1] - The Offers will remain open until 31 March 2025, unless fully subscribed earlier, and the Directors reserve the right to close the Offers at any time [2] - A downloadable version of the Prospectus is available on Mercia's website and at the Company's registered office [4] Related Party Transactions - The fee structure for Mercia includes a 2.5% fee for direct subscriptions and a 5% fee for execution-only platform subscriptions, with a 0.5% discount for existing shareholders [3] - The arrangements with Mercia constitute a relevant related party transaction under UK Listing Rules, and the board believes the transaction is fair and reasonable for shareholders [3]