THAMES VENTURES VCT 2 PLC - Net Asset Value 2021

National Storage Mechanism | Additional information

Downing FOUR VCT plc (the “Company”)

LEI: 21380035MV1VRYEXPR95

3 June 2021

Portfolio Update

The Directors of the Company are pleased to report that Generalist and Healthcare Share portfolio company, Arecor Therapeutics (“Arecor”), has today had its ordinary shares admitted to trading on AIM. The admission follows a successful £20.0 million placing of new shares at a price of 226 pence per ordinary share (the “placing price”).

Based on the placing price, the values of the Company’s Generalist and Healthcare Share pools’ holdings in Arecor have increased by approximately 0.9p per Generalist Share and 8.0p per Healthcare Share. This is equivalent to increases of 1.3% and 11.4% in the unaudited NAVs of the Generalist and Healthcare Share pools respectively, as at 28 February 2021 (being the most recent NAVs announced by the Company).

Enquiries:

Grant Whitehouse

Downing LLP

Company Secretary

020 7630 4333