Issue of Supplementary Prospectus

Pembroke VCT plc

Issue of Supplementary Prospectus

20 September 2016

Pembroke plc (the "Company") announces that it has published a supplementary prospectus on 20 September 2016 (the "Supplementary Prospectus") in respect of the offer for subscription that was launched on 29 October 2015 for B ordinary shares of 1p each in the Company ("B Shares") to raise up to £15 million (plus an over-allotment facility to issue up to a further £10 million of B Shares) (the "Offer").

The Supplementary Prospectus refers to the publication of the annual report and accounts of the Company for the period ended 31 March 2016.

The Supplementary Prospectus has been approved by the UK Listing Authority and will shortly be available to view at the online viewing facility of the National Storage Mechanism at the following website address: http://www.morningstar.co.uk/uk/NSM.

Copies of the prospectus (containing details of the Offer) and the Supplementary Prospectus are available, free of charge from the Company's registered office, 3 Cadogan Gate, London SW1X 0AS and at www.pembrokevct.com.

For further information, please contact:

Pembroke VCT plc

020 7766 6900

Peter Dubens / Andrew Wolfson

The City Partnership (UK) Limited, Company Secretary

0131 243 7210

Doreen Nic

Kin Capital Limited, Co-promoter to the Offer

0203 743 3100 / 0203 743 3122

Richard Hoskins / Tom Hopkins

FTI Consulting

020 7831 3113

Edward Bridges / Emily Hartman