Result of General Meeting

Fuel Ventures VCT plc (the "Company")

Results of a General Meeting

At a General Meeting of the Company duly convened and held on Wednesday 19 March 2025 at 10.30am, the following resolutions were duly passed by the required majority on a show of hands.

Ordinary Resolution

1. That, in addition to existing authorities, the directors of the Company be and hereby are generally and unconditionally authorised in accordance with Section 551 of the Companies Act 2006 (the "Act") to exercise all the powers of the Company to allot Shares and to grant rights to subscribe for or to convert any security into Shares up to an aggregate nominal amount of £250,000 (representing approximately 243% of the Shares in issue as at 17 February 2025), provided that the authority conferred by this Resolution 1 shall expire on the date falling 15 months from the date of the passing of this Resolution (unless renewed, varied or revoked by the Company in general meeting) but so that this authority shall allow the Company to make, before the expiry of this authority, offers or agreements which would or might require Shares to be allotted or rights to be granted after such expiry.

Special Resolutions

2. That, the directors of the Company be and hereby are empowered pursuant to Sections 570 and 573 of the Act to allot or make offers or agreements to allot equity securities (which expression shall have the meaning ascribed to it in Section 560(1) of the Act) for cash pursuant to the authority given pursuant to Resolution 1 or by way of a sale of treasury shares, as if Section 561(1) of the Act did not apply to such allotment, provided that the power provided by this Resolution 2 shall expire on the date falling 15 months from the date of the passing of this Resolution (unless renewed, varied or revoked by the Company in general meeting) and provided further that this power shall be limited to:

(a) the allotment and issue of Shares up to an aggregate nominal value of £250,000 pursuant to offer(s) for subscription (including the Offer); and

(b) the allotment and issue of Shares up to an aggregate nominal value representing 243% of the issued Share capital, from time to time,

where the proceeds may in whole or part be used to purchase Shares in the Company.

3. That, the Company be and hereby is empowered to make one or more market purchases within the meaning of Section 693(4) of the Act of its own Shares (either for cancellation or for the retention as treasury shares for future re-issue or transfer) provided that:

(a) the aggregate number of Shares which may be purchased shall not exceed 1,537,551 Shares;

(b) the minimum price which may be paid per Share is the nominal value thereof;

(c) the maximum price which may be paid per Share is an amount equal to the higher of (i) 105% of the average of the middle market quotation per Share taken from the London Stock Exchange daily official list for the five business days immediately preceding the day on which such Share is to be purchased; and (ii) the amount stipulated by Article 5(6) of the Market Abuse Regulation;

(d) the authority conferred by this Resolution 3 shall expire on the conclusion of the annual general

meeting of the Company to be held in 2025 (unless renewed, varied or revoked by the Company in

general meeting); and

(e) the Company may make a contract to purchase Shares under the authority conferred by this

Resolution prior to the expiry of such authority which will or may be executed wholly or partly after

the expiration of such authority and may make a purchase of such Shares.

Proxy votes received were:

19 March 2025

For further information please contact:

Stan Williams

Fuel Ventures VCT plc

[email protected]

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

[email protected]

Keith Lassman

Howard Kennedy Corporate Services LLP

[email protected]