AGM Update and Declaration of Interim Dividend

25 September 2020

Pembroke VCT plc

AGM Update and Declaration of Interim Dividend

Pembroke VCT plc has convened an annual general meeting ("AGM") to be held at 9.00 a.m. on 30 September 2020 at 3 Cadogan Square, London SW1X 0AS.

The board of the Company (the "Board") has resolved to withdraw resolution 2 as set out in the notice of the AGM dated 4 September 2020, relating to the approval of a final dividend (the "Final Dividend") of 3 pence per B ordinary share in respect of the year ended 31 March 2020, with a payment date of 29 October 2020 and a record date of 25 September 2020.

The Board has, instead, resolved to pay an interim dividend (the "Interim Dividend") of 3 pence per B ordinary share on 12 November 2020. The record date for the Interim Dividend is 9 October 2020, the ex-dividend date is 8 October 2020 and the last date for receipt of elections in respect of the Interim Dividend under the Company's dividend investment scheme is 27 October 2020.

Subject to the passing of certain resolutions at a general meeting of the Company to be held on 30 September 2020, the Company is proposing, shortly thereafter, to make a first allotment (the "First Allotment") of B ordinary shares pursuant to the prospectus issued by the Company on 3 September 2020. The withdrawal of resolution 2 at the AGM, and the declaration of the Interim Dividend, allows those subscribers under the First Allotment, who would have been unable to receive the Final Dividend, to receive the Interim Dividend.

For further information, please contact

Pembroke Investment Managers LLP (Manager)

020 7766 2836

Andrew Wolfson

The City Partnership (UK) Limited (Company Secretary)

0131 243 7210

Doreen Nic

Share Communications

07866 639014

Zoe Powell