Offer for subscription

24 SEPTEMBER 2025

NORTHERN 2 VCT PLC

OFFER FOR SUBSCRIPTION

Further to the announcement made by Northern 2 VCT PLC (“the Company”) on 17 September 2025 in conjunction with Northern Venture Trust PLC and Northern 3 VCT PLC (together with the Company known as “the Northern VCTs”), in respect of the offers of new ordinary shares for subscription in the 2025/26 tax year (“the Offers”), the Company announces that its offer is now open to applications.

Applications for new shares in the Company will be dealt with on a “first-come, first-served” basis. In recognition of the loyalty of the Northern VCT shareholders, existing shareholders on the register of members of any of the Northern VCTs as at 16 June 2025, along with their spouse or civil partner, whose applications for shares in any of the Northern VCTs are accepted, will benefit from a reduction of 0.5% in the offer costs applicable to their subscription. The Offers will remain open until 12 noon on 31 March 2026, unless fully subscribed at an earlier date and subject to the Directors’ right to close the Offers at any time. There will be a first allotment on 25 November 2025 and to be allocated shares in the first allotment, funded applications must be received by close of business 19 November 2025.

The investment brochure describing the key features of the Offers has been sent to registered shareholders, and is also available from: www.mercia.co.uk/vcts.

A downloadable version of the prospectus relating to the Offers is available from: www.mercia.co.uk/vcts. Additionally, a copy is available free of charge, from the Company’s registered office at Forward House, 17 High Street, Henley-in-Arden B95 5AA or by calling Mercia on 0330 223 1430.

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited - 0330 223 1430

Website: www.mercia.co.uk/vcts

Neither the contents of the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are incorporated into, or form part of, this announcement.