Directorate change

Pembroke VCT plc (the "Company")

Directorate Changes

The Company is pleased to announce that both Neeta Patel CBE and Elizabeth (Liz) Flockhart have been appointed as a non-executive directors of the Company with immediate effect.

Louise Wolfson, the chair of the Company's Remuneration & Nomination Committee commented: "We are delighted that Neeta and Liz have agreed to join us and we welcome them to the board. Neeta brings long standing experience in the VCT sector and in supporting growing businesses, while Liz adds strong investment oversight and governance expertise from her roles across asset management and regulated funds. We believe their experience will make a meaningful contribution to the Company's continued growth."

Neeta Patel is currently the Senior Independent Director of Allianz Technology Trust, a director at European Opportunities Trust and Maven Renovar VCT. Previously, Neeta was also a director of Albion VCT and CEO at The Centre for Entrepreneurs. There is no further information to be disclosed pursuant to 6.4.8 of the UK Listing Rules of the Financial Conduct Authority in relation to this appointment.

Liz Flockhart is currently a director of Baille Gifford US Growth Trust and Nuclear Liabilities Fund. There is no further information to be disclosed pursuant to 6.4.8 of the UK Listing Rules of the Financial Conduct Authority in relation to this appointment.

For further information, please contact:

Andrew Wolfson / Chris Lewis

Pembroke Investment Managers LLP (Manager)

+44 20 7766 6900

Ben Harber FCG (Company Secretary)

[email protected]

Keith Lassman

Howard Kennedy Corporate Services LLP

[email protected]