PROVEN VCT PLC

Investor Presentation • Jul 17, 2025

National Storage Mechanism | Additional information

ProVen VCT plc

Interim Management Statement

for the three months ended 31 May 2025

ProVen VCT plc (the “Company”) presents an Interim Management Statement for the three-month period ended 31 May 2025. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

			Unaudited 31- May 2025	Audited 28 -Feb 2025
			Pence	Pence
Net Asset Value per share (“NAV”)			63.4	62.9
Dividends paid to date*			87.50	87.50
Total Return (NAV plus dividends paid since 10p Share consolidation)			150.90	150.40

*Dividends paid represents dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.

Dividends paid or declared

On 5 June 2025, the Company announced a final dividend for the year ended 28 February 2025 of 1.75p per share. This dividend will be paid on 15 August 2025 to Shareholders on the register at 18 July 2025. Payment of this dividend will reduce the NAV per share as shown above to 61.65p pence and increase dividends paid to date to 89.25p per share.

Investment portfolio summary at 31 May 2025

	Cost	Valuation
Venture capital investments	£’000	£’000
MPB Group Limited	1,684	12,622
Gorillini NV (t/a Gorilla)	4,624	9,461
Luxury Promise Limited	5,680	8,983
Infinity Reliance Limited (t/a My 1st Years)	4,731	7,548
Social Value Portal Ltd	2,590	6,544
Access Systems, Inc. (t/a AccessPay)	3,737	6,042
Picasso Labs, Inc. (t/a CreativeX)	2,729	5,979
Farmer J Limited	3,670	5,911
Dash Brands Ltd	2,718	4,643
Moonshot CVE Ltd	2,298	4,567
Other venture capital investments	84,415	59,458
Total venture capital investments	118,876	131,758
Cash and cash equivalents		48,738
Other net current assets		259
Net Assets		180,755

Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines.

Investment activity during the three-month period ended 31 May 2025

Additions

Venture capital investments	Cost £’000
Limitless Travel Ltd	1,165
MOTH Drinks Ltd	186
Mojo Men Ltd	133
Total	1,484

Investment disposals

There were no disposals made in the quarter to 31 May 2025.

Investment activity from 1 June 2025 to the date of this announcement

In the period from 1 June 2025 to the date of this announcement, a follow on investment was made in Not Another Beer Co Ltd (t/a Lucky Saint) at a cost of £26,000.

Changes to share capital	Ordinary Shares of 10p each
As at 1 March 2025	268,666,368
Shares bought back during the 3 months to 31 May 2025	-
Shares issued during the 3 months to 31 May 2025	16,486,817
As at 31 May 2025	285,153,185

In the period from 1 June 2025 to the date of this announcement, 1,823,214 Ordinary Shares were issued on 2 July 2025 pursuant to the offer for subscription that opened on 6 November 2024 and were allotted at an average price of 65.32p, based on the net asset value of 62.9p per Ordinary Share, being the net asset value as at 28 February 2025.

In the period from 1 June 2025 to the date of this announcement, 4,385,063 Ordinary Shares were repurchased and subsequently cancelled.

Material events

Other than the matters described above, there were no material events during the period from 1 March 2025 to 31 May 2025 or in the period from 1 June 2025 to the date of this announcement.

Further information

Further information regarding the Company, can be found on Beringea's dedicated VCT website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at info@beringea.co.uk or by telephone 020 7845 7820.

Beringea LLP

Company Secretary

Telephone 020 7845 7820

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