Offer for subscription

Calculus VCT plc (the "Company")

New Offer for Subscription

The Company's current offer for subscription for D Ordinary Shares in the Company ("Current Offer") closes at 11am on 21 October 2016. Full details of the Current Offer are contained in a prospectus issued by the Company on 26 October 2015.

The Company is pleased to announce the intention to launch a further offer for subscription for D Shares following the close of the Current Offer, with the shares to be issued in the 2016/17 and 2017/18 tax years.

A new prospectus with full details of the further offer is intended for publication later in the year.

For further details, or to register an interest, please contact Calculus Capital Limited by telephone on 020 7493 4940 or by e-mail to [email protected].

Calculus Capital Limited

Secretary

28 September 2016