ALBION DEVELOPMENT VCT PLC

Share Issue/Capital Change • Mar 23, 2022

National Storage Mechanism | Additional information

Albion Development VCT PLC

LEI Code 213800FDDMBD9QLHLB38

Closure of the Company’s offer under the Albion VCTs Prospectus Top Up Offers 2021/2022 ("Albion VCT Offers")

The Board of Albion Development VCT PLC (the "Company") is pleased to announce that it has reached its £21 million limit (inclusive of the £6 million over-allotment facility exercised) under its offer for subscription pursuant to the Prospectus issued on 6 January 2022 ("Offer") by the Company and the other Albion VCTs, which as of today is fully subscribed for the Company and has now closed to further valid applications.

The next allotments in respect of valid applications received prior to the Offer closing are expected to take place on 31 March 2022, for applications in respect of the current tax year, and on 13 April 2022 for applications in respect of the 2022/2023 tax year. Dealing in such shares is expected to commence within 3 business days following allotment.

Albion Enterprise VCT PLC and Albion Technology & General VCT PLC remain open for valid applications. As of 22 March 2022, the total amount raised across the Albion VCTs under the Albion VCT Offers is £90 million.

The Albion VCT 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

23 March 2022