Dividend Declaration

CALCULUS VCT PLC

Dividend proposal

On 4 July 2017, the board announced that the dividend payment and record date previously announced on the D shares would be postponed pending receipt of HMRC clearance for the merger of the share classes.

The board are pleased to announce that clearance from HMRC has now been received. The board would therefore like to propose that, subject to shareholder approval at the upcoming Annual General Meeting, the dividend of 4.25 pence per eligible D share be paid on 1 September 2017, to eligible shareholders on the register as at 11 August 2017.

Calculus Capital Limited

Company Secretary

Dated: 25 July 2017