Downing FOUR VCT plc

LEI: 21380035MV1VRYEXPR95

Cancellation of listing of DSO B Shares, DSO C Shares and DP2011 Low Carbon Shares (together, "the Shares") and cessation of trading

10 April 2018

Downing FOUR VCT plc (the " Company") announces that, with respect to the DSO B, DSO C, and DP2011 Low Carbon Share classes, the process of returning funds to Shareholders has been completed. The dividend payments, of 4.444p per DSO B Share and 10.939p per DSO C Share on 26 January 2018, and 33.4p per DP2011 Low Carbon Share on 16 March 2018, represented the return of the residual capital associated with the Shares to Shareholders, marking the end of the life cycle of the Shares.

The Directors are authorised under the Company's articles of association ("Articles") to convert any Share class with a NAV of less than £25,000 into deferred shares, which may be bought back and cancelled by the Company for a nominal amount (a "Conversion"). As this threshold was met in respect of each of the above classes of Shares, the Directors resolved, in accordance with the Articles, to proceed with a Conversion of the DSO B Shares, DSO C Shares and DP2011 Low Carbon Shares, and to repurchase such Shares for cancellation. The conversion was carried out on 10 April 2018, and the resulting deferred shares were immediately repurchased and cancelled.

The Company will shortly write to the UKLA requesting the removal of the Shares from the Official List.

For further information, please contact:

Downing LLP

Telephone: 020 7416 7780