Half-year Report

Pembroke VCT plc (the "Company")

Half-yearly Report for the six months ended 30 September 2019

The Directors are pleased to attach the Company's Half-yearly Report for the six months ended 30 September 2019.

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

http://www.rns-pdf.londonstockexchange.com/rns/8816W_1-2019-12-13.pdf

The Half-yearly Report may also be downloaded from the Company's website at www.pembrokevct.com.

Auditor

Following six years of Grant Thornton UK LLP acting as auditor, the Board placed the audit out to tender and Grant Thornton UK LLP chose not to retender. The Company conducted a competitive tender process and has appointed BDO LLP to act as the Company's auditor beginning with the year ended 31 March 2020.

For further information, please contact:

Pembroke Investment Managers LLP (Manager)

020 7766 2836

Andrew Wolfson

The City Partnership (UK) Limited (Company Secretary)

0131 243 7215

Doreen Nic

Cornerstone Communications

07917 080 365

Richard Acworth