NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA,  THE UNITED STATES OR ANY MEMBER STATE OF THE EEA (OTHER THAN ANY MEMBER STATE OF THE EEA WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY MARKETED), OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.

Baronsmead Second Venture Trust plc

LEI: 2138008D3WUMF6TW8C28

27 March 2023

Offer for Subscription - Close of Offer

The Board of Baronsmead Second Venture Trust plc (the "Company") announced on 16 December 2022 that the Company, together with Baronsmead Second Venture Trust plc, had published a prospectus (the "Prospectus") in relation to offers for subscription to raise up to £40 million in aggregate with the discretion to utilise over-allotment facilities to raise up to a further £10 million in aggregate (the "Offers" and each an "Offer").

On 9 March 2023, the Board announced that it intended to utilise the Over-allotment Facility and that Applications were being accepted to raise up to an additional £5 million available under the Over-allotment Facility.

The Board has been advised that, on the basis of valid Applications received under the Offer, the Offer is now fully subscribed. Accordingly, the Offer is now closed and no further Applications for New Shares will be accepted.

As announced previously, the Final Allotment under the Offer is expected to take place on or around 3 April 2023.

For the avoidance of doubt, the Offer in respect of Baronsmead Venture Trust plc is also closed.

Terms used in this announcement have the same meaning as defined in the Prospectus.

For further information please contact:

Baronsmead VCT Investor Relations

020 7382 0999 [email protected]