Seneca B Regulatory News (SVCT)

Net Asset Value(s)

Seneca Growth Capital VCT Plc (the "Company")

3 April 2025

Net asset values ("NAV")

The Directors and the Investment Manager of the Company, Seneca Partners Limited ("Seneca"), have reviewed the valuation of the Company's Ordinary and B share investment portfolios and announce an updated NAV for each of the share classes as at 31 March 2025.

B Shares

As at 31 March 2025, the unaudited NAV per B share was 49.8p and it is intended that this is the NAV per B share which will be used for the planned allotment of B shares on 4 April 2025.

This is a decrease of 2.0p from the unaudited NAV per B share as at 31 December 2024, which was 51.8p, full details of which will be included in our Final Results announcement later this month.

The 31 March 2025 unaudited NAV also represents a decrease of 3.5p compared to the latest published unaudited NAV of 53.3p as at 30 September 2024.

The decrease in B share NAV continues to be as a result of a reduction in the share prices of the B share pool's AIM quoted investments.

The unaudited NAV total return per B share (NAV plus cumulative dividends) as at 31 March 2025 was 67.8p.

The B share Offer by the Company remains open for the 2024/25 tax year until midday today, 3 April 2025.

The B share Offer remains open for the 2025/26 tax year until 8 August 2025, unless the Offer has been fully subscribed by an earlier date or is closed earlier at the discretion of the Directors.

Ordinary Shares

As at 31 March 2025, the unaudited NAV per Ordinary share was 12.9p.

This is a decrease of 3.8p from the unaudited NAV per Ordinary share as at 31 December 2024, which was 16.7p, full details of which will be included in our Final Results announcement later this month.

The 31 March 2025 unaudited NAV also represents a decrease of 7.5p compared to the latest published unaudited NAV of 20.4p as at 30 September 2024.

The decrease in Ordinary share NAV is principally due to a reduction in the value of the Ordinary share pool's AIM quoted investments in Scancell Holdings Plc and Arecor Therapeutics Plc. The closing bid price of Scancell Holdings Plc shares on 31 March 2025 was 7.8p per share (30 September 2024: 14p) and the closing bid price of Arecor Therapeutics Plc shares on 31 March 2025 was 42.0p per share (30 September 2024: 62p).

The unaudited NAV total return per Ordinary share (NAV plus cumulative dividends) as at 31 March 2025 was 86.2p.

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

For further information, please contact:

Richard Manley, Seneca Growth Capital VCT Plc at Richard.Manley@senecapartners.co.uk

Any enquiries regarding the offer for subscription of B shares should be directed to:

Siobhan Pycroft at Seneca Partners Limited on 01942 295 981 or at Siobhan.Pycroft@senecapartners.co.uk