Annual Financial Report

Fuel Ventures VCT plc (the "Company")

LEI: 984500B43BFE4DF77187

Annual Report & Financial Statements for the year ended 31 March 2026

Fuel Ventures VCT plc's directors are pleased to announce the Company's annual report and financial statements for the year ended 31 March 2026 ("Annual Report"). The highlights include:

· Net asset value has grown to £12.3m (2025: £9.9m)

· Net asset value per share of 96.94p (2025: 96.49p)

· Profit/(loss) for the year £143k (2025: £(325)k)

Andrew Whitehouse, Non-Executive Chair, commented:

"I am pleased to present the second annual report of Fuel Ventures VCT plc. Net asset value per share increased to 96.94 pence over the year, a modest advance that reflects measured operational progress across the portfolio, set against the underlying cost base of an early-stage VCT. During the year the Company committed £4.40 million across seven new qualifying investments, taking the portfolio to 16 holdings, while retaining £3.71 million in cash and money market funds to support follow-on opportunities. Several holdings are at, or approaching, the stage where priced funding rounds or strategic conversations may emerge over the next 12 to 18 months, and this maturing profile underpins the Board's confidence in its dividend target. While the reduction in upfront income tax relief to 20% from April 2026 represents a material change to the investor proposition, VCT investment continues to offer a compelling combination of tax-advantaged returns and access to a diversified portfolio of high-growth early-stage businesses. I would like to thank shareholders for their continued support."

The Annual Report will be distributed to shareholders shortly and will be available in electronic format for download on the Fuel Ventures website at https://www.fuel.ventures/vct-fund and will be submitted to the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

Click on, or paste the following link into your web browser, to view the associated PDF document:

http://www.rns-pdf.londonstockexchange.com/rns/8602N_1-2026-7-24.pdf

For further information, please contact:

Johnathan Graham

Fuel Ventures Limited

[email protected]

Keith Lassman

Howard Kennedy Corporate Services LLP

020 3755 5459

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

[email protected]