Issue of Equity and Total Voting Rights

18 AUGUST 2023

NORTHERN 2 VCT PLC

ISSUE OF EQUITY AND TOTAL VOTING RIGHTS

Northern 2 VCT PLC ("the Company”) announces that on 18 August 2023 it allotted 674,068 ordinary shares of 5p each to shareholders who agreed to subscribe for shares under the terms of the Company’s Dividend Investment Scheme. The subscription price was 57.7p per share. Following the above allotment there are 195,359,647 ordinary shares in issue.

An application will be made at the earliest practicable opportunity for the new ordinary shares, which will rank pari passu with the existing ordinary shares, to be admitted to the Official List of the Financial Conduct Authority ("the FCA”) and to trading on the London Stock Exchange’s market for listed securities, and dealings are expected to commence on or around 23 August 2023.

In conformity with the FCA’s Disclosure Guidance and Transparency Rules (the "DTRs”), the Company notifies the market that the capital of the Company consists of 195,359,647 ordinary shares with a nominal value of 5p each. All the ordinary shares have voting rights. The Company does not hold any ordinary shares in treasury. The total number of voting rights in the Company is therefore 195,359,647 ("the Figure”). The Figure may be used by a shareholder or other person as the denominator for the calculations by which he will determine if he is required to notify the voting rights he holds in relation to the Company, or a change to those voting rights, under the DTRs.

Enquiries:

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

Website: www.mercia.co.uk/vcts

The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website) are not incorporated into, nor form part of, this announcement.