Offer Update

2 October 2025

British Smaller Companies VCT plc and British Smaller Companies VCT2 plc (together the "Companies")

Update on Offers

Further to the launch of new share offers on 25 September 2025, the Companies are pleased to announce that Application Forms are now available and are being processed.

The new share offers for the 2025/26 tax year are seeking to raise, in aggregate, up to £60 million, with an over-allotment facility of up to a further £25 million, in aggregate, by way of prospectus offers of new ordinary shares for subscription (the "Offers").

The Companies have issued a prospectus relating to the Offers (the "Prospectus"). The proceeds will be allocated between the Companies in accordance with the terms set out in the Prospectus.

The deadline for the receipt of Applications and cleared funds is 27 March 2026, or earlier if the Offers become fully subscribed.

The Prospectus is available from the Companies' website:

www.bscfunds.com

and is also available for inspection at the National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further information, please contact:

Marcus Karia YFM Equity Partners Tel: 0113 244 1000

Alex Collins Panmure Liberum Tel: 0207 886 2767