PROVEN VCT PLC

Report Publication Announcement • Oct 24, 2014

23 October 2014

Dear Shareholder

Electronic Communications with shareholders

I am writing to you in connection with how ProVen VCT plc (the "Company") communicates with its shareholders. The Companies Act 2006 allows the default option for receiving and accessing shareholder communications (including your annual report and half year report) to be via a company's website. Shareholders are required individually to consent to this method of publication and this is the purpose of this letter.

It is the Company's intention in the future to provide, as far as possible, all shareholder communications via the Company's website (www.provenvcts.co.uk) to all shareholders who have not specifically elected to receive the information in hard copy (i.e. paper) form. This will reduce the number of communications sent by post and will reduce the impact that the unnecessary printing and distribution of reports has on the environment. Shareholders will be notified, either by email or post, each time the Company places communications on the website.

Action required by you

• If you wish to receive postal notification of publication of the Company's shareholder communications then you do not need to do anything.
• If you wish to receive email notification of publication of the Company's shareholder communications then please complete option (a) below and return to the Company's Registrar in the reply paid envelope provided.
• If you wish to continue to receive hard copies of the Company's shareholder communications then please complete option (b) below and return to the Company's Registrar in the reply paid envelope provided. If you do not return this slip within 28 days from the date of this letter, we will assume that you have consented to postal notification of website publication of the communications and you will no longer receive hard copies in the post.

Should you subsequently wish to change your election, you can do so at any time by contacting the Registrar, Capita Asset Services, VCT Shareholder Solutions, 34 Beckenham Road, Beckenham, Kent BR3 4TU, or alternatively at www.capitashareportal.com. If you wish to receive hard copies of any documents you can contact the Company at 39 Earlham Street, London WC2H 9LT or by telephone on 020 7845 7820 and request this. Notwithstanding any election, the Company may, in its sole discretion, send any notification or information to shareholders in paper form.

If you have any questions about this letter then please contact the Investment Manager, Beringea LLP, on 020 7845 7820.

Yours sincerely

Andrew Davison Chairman

Please complete, detach and return to the Registrar, Capita Asset Services, VCT Shareholder Solutions, 34 Beckenham Road, Beckenham, Kent BR3 4TU in the reply paid envelope provided

(a) I wish to receive email notifications from ProVen VCT plc

• (please print your email address below)
• (b) I wish to continue to receive hard copy shareholder information from ProVen VCT plc

Name ................................................................................................................................................................

Address .............................................................................................................................................................

...........................................................................................................................................................................

Your email address (if choosing option (a)) .....................................................................................................

Signature .............................................................................................Date......................................................

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt as to what action you should take, you are recommended to seek your own financial advice from your stockbroker or other independent adviser authorised under the Financial Services and Markets Act 2000.

If you have sold or transferred all of your shares in the Company, you should forward this letter as soon as possible to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee.