Issue of Equity

Puma Alpha VCT plc

25 March 2025

Issue of Equity

The Directors of Puma Alpha VCT plc (the "Company") are pleased to announce that the Company has today made an allotment of 42,825 Ordinary Shares of £0.01 each pursuant to the Company's dividend reinvestment scheme ("DRIS").

The Ordinary Shares were allotted at an issue price of £1.0436 per Share (being the most recently announced net asset value per Ordinary Share (being 107.36p (unaudited) as at 30 September 2024, as announced on 18 October 2024) as adjusted for the dividend paid to shareholders on 24 March 2025).

Following this allotment, the total number of Ordinary Shares in issue is 31,650,789. Therefore, the total number of voting rights in the Company is 31,650,789. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Application will be made for the Ordinary Shares so allotted to be admitted to the Official List of the FCA and to trading on the London Stock Exchange's main market for listed securities, and dealings are expected to commence on or around 28 March 2025. Definitive documents of title are expected to be despatched within 10 business days of allotment.

For further information please contact:

Eliot Kaye

Company Secretary

Puma Alpha VCT plc

020 7408 4050