ALBION DEVELOPMENT VCT PLC - Capital/Financing Update 2022

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Offer Update

Albion Development VCT PLC (the "Company")

LEI Code 213800FDDMBD9QLHLB38

Albion VCTs Prospectus Top Up Offers 2021/2022

Following strong demand for the Company’s shares under the Albion VCTs Prospectus Top Up Offers 2021/2022 (the "Offers"), which opened on 6 January 2022, the Board is pleased to announce that it has elected to exercise the Company's over-allotment facility referred to in the prospectus issued by the Company (and the other Albion VCTs named therein) on 6 January 2022 (the "Prospectus").

Accordingly, the maximum amount that the Company can raise under the Offers is increased from £15 million to £21 million (before issue costs).

The Offers opened on 6 January 2022 and are expected to close no later than 30 September 2022 (unless fully subscribed by an earlier date or previously closed).

A downloadable version of the Prospectus is available from www.albion.capital. Copies of the Prospectus are available, free of charge, from the Companies' registered office at 1 Benjamin Street, London, EC1M 5QL.

Terms used in this announcement have the same meaning as defined in the Prospectus.

Enquiries:

Will Fraser-Allen

Managing Partner, Albion Capital Group LLP

Investment Manager

Tel: 0207 601 1850

3 March 2022