THAMES VENTURES VCT 2 PLC

Share Issue/Capital Change • Feb 27, 2020

National Storage Mechanism | Additional information

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Downing FOUR VCT plc

LEI 21380035MV1VRYEXPR95

27 February 2020

Top-up Offers for Subscription (Generalist and Healthcare shares)

The Company announces that it has published Investment Memorandums relating to Top-Up Offers for Subscription in respect of its Generalist Shares (the "Generalist Top-Up Offer") and its Healthcare Shares (the "Healthcare Top-Up Offer").

The Top-Up Offers opened on 27 February 2020 and will close on no later than 3.00 p.m. on 3 April 2020 in the case of the 2019/20 tax year and 31 January 2021 in the case of the 2020/21 tax year (unless extended or fully subscribed earlier). The Generalist Top-Up Offer is for up to 8,250,723 Generalist Shares (Approx. £5.6 million) and the Healthcare Top-up Offer is for up to 3,684,378 Healthcare Shares (Approx. £2.5 million). The Top-Up Offers are intended mainly to facilitate the allotment and listing of existing regular monthly investments that commenced under previous offers.

Downloadable versions of the Investment Memorandums can be obtained from

https://www.downing.co.uk/existing-investor/downing-four-vct

The Investment Memorandums will also be submitted to the National Storage Mechanism and will shortly be available for inspection at https://www.morningstar.co.uk/uk/NSM