Offer for subscription update 9 FEBRUARY 2017

9 FEBRUARY 2017

NORTHERN 2 VCT PLC

OFFER FOR SUBSCRIPTION UPDATE

Northern 2 VCT PLC (the "Company") announces that the Offer of new ordinary shares for subscription in the 2016/17 tax year, launched on 7 February 2017 to raise up to £4.3 million, is now fully subscribed and has closed to new applications.

Applications were processed on a first come first served basis as set out in the Offer Document.  The Company will write to successful applicants in the near future to confirm acceptance of their applications, subject to clearance of application cheques on presentation.  Unsuccessful applicants will be notified as soon as possible and will have their application cheques returned.

The allotment of new ordinary shares in the Company under the Offer is expected to take place on 3 April 2017.  The number of new ordinary shares to be allocated to each applicant will be determined in accordance with the Pricing Formula contained in the Offer Document.  Dealings in the new ordinary shares issued pursuant to the Offer will become effective by 17 April 2017.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000 Website:  www.nvm.co.uk

Neither the contents of the NVM Private Equity LLP website nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP website (or any other website) is incorporated into, or forms part of, this announcement.