22 March 2023

British Smaller Companies VCT plc ("BSC") and British Smaller Companies VCT2 plc ("BSC2") (together the "Companies")

Publication of a Supplementary Prospectus

The Companies announce that a supplementary prospectus (the "Supplementary Prospectus") has been published today relating to the Companies' offer for subscription in the 2022/23 tax year to raise, in aggregate, up to £50 million, with an over-allotment facility of up to a further £25 million, in aggregate.

The Supplementary Prospectus refers to the publication by BSC2 of the annual report and accounts for the year ended 31 December 2022 and the publication by BSC of its unaudited net asset value as at 31 December 2022.

A copy of the Supplementary Prospectus has been submitted to the Financial Conduct Authority and will shortly be available for inspection at the National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

The Supplementary Prospectus is available from the Companies' website at:

www.bscfunds.com

For further information, please contact:

David Hall                             YFM Private Equity Limited                          Tel: 0113 244 1000

Alex Collins                           Panmure Gordon (UK) Limited                    Tel: 0207 886 2767