Net Asset Value

31 July 2026

NORTHERN VENTURE TRUST PLC

UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2026

Northern Venture Trust PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 1995 and advised by Mercia Fund Management Limited. The Company’s objective is to provide long-term tax-free returns to investors through a combination of dividend yield and capital growth, by investing in a portfolio of investments mainly comprising unquoted venture capital holdings. In order to maintain approval by HM Revenue & Customs as a VCT, the Company is required to comply on a continuing basis with the provisions of Section 274 of the Income Tax Act 2007.

The unaudited net asset value per ordinary share as at 30 June 2026 was 60.1 pence (31 March 2026: 57.8 pence).

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2026 and unquoted investments are carried at fair value as at 30 June 2026 as determined by the directors.

New Investments:
During the three months ended 30 June 2026 two new venture capital investments were completed.

In addition to the new investments above, £2,191,000 was invested in six existing portfolio companies during the quarter.

Realisations:
During the three months ended 30 June 2026 five venture capital investments were realised.

*Quoted on AIM

Share capital:
During the three months ended 30 June 2026, 22,761,845 shares were issued under the final allotment of the 2025/26 fundraise, raising gross proceeds of £14.1 million.

As at 30 June 2026, the Company’s issued share capital comprised 261,740,830 ordinary shares.

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Ltd – 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 forms part of, this announcement.

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