Annual Financial Report

GRESHAM HOUSE INCOME & GROWTH 2 VCT PLC

LEI: 213800HKOSEVWS7YPH79

Annual Report and Financial Statements for the year ended 30 September 2025

26 January 2026

Gresham House Income & Growth 2 VCT plc (the "Company") Annual Results announcement

The Company announces the Annual Report and Financial Statements for the year ended 30 September 2025 have been published on its website https://greshamhouse.com/gresham-house-income-growth-2-vct-plc/. The results were approved by the Board of Directors on 26 January 2026.

Financial Highlights

As at 30 September 2025:

Net assets: £177.69 million

Net asset value ("NAV") per share: 54.29 pence

· Net asset value ("NAV") total return1 per share was 2.9%.2

· Share price total return1 per share was 0.2%.

· Dividends paid/payable in respect of the year total 4.00 pence per share. Cumulative dividends paid to date since inception in 2004 amount to 174.3 pence per share.

· £8.36 million was invested into six new growth capital investments and five existing portfolio companies during the year.

· Net portfolio unrealised/realised gains were £4.53 million in the year.

· The Company generated £6.95 million in proceeds from three realisations and two other exit events.

1 Definitions of key terms and alternative performance measures shown above and throughout this

report are shown in the Glossary of terms in the Annual Report and Financial Statements.

2 Further details on the NAV total return are shown in the Performance and Key Performance

Indicators section of the Strategic Report in the Annual Report and Financial Statements

Retirement of Directors

Pursuant to UKLR 6.4.6R (2) of the UK Listing Rules, the Company announces that Clive Boothman and Ian Blackburn will step down from the Board at the 2027 Annual General Meeting.

Annual General Meeting

The Annual General Meeting will be held at 1.45 pm on Monday, 2 March 2026 at the Leonardo Royal Hotel London St Paul's, 10 Godliman Street, London EC4V 5AJ. The Annual Report and Financial Statements for the year ended 30 September 2025, including the Notice of Annual General Meeting, are attached to this announcement.

The 2026 Notice of Annual General Meeting can also be found on the Company's website under "Documents" and will be posted to shareholders shortly.

In accordance with the UK Listing Rules, a copy of the report will be submitted to the National Storage Mechanism and will shortly be available for inspection at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further details about the Company please visit the Company's webpage on the Investment Adviser's website at:

https://greshamhouse.com/gresham-house-income-growth-2-vct-plc/ 

For further information please contact:

Gresham House Asset Management Limited

Company Secretary

Email: [email protected]

Tel: +44 (0)20 7382 0999

Attachment

· Gresham House Income & Growth 2 VCT plc - Annual Financial Report - 30 September 2025