Allotment Update

Maven Income and Growth VCT 3 PLC (the Company)

Allotment Update

On 13 November 2019, the Company and Maven Income and Growth VCT 4 PLC launched a joint offer for subscription for new ordinary shares of 10p each (Ordinary Shares) to raise up to £7.5 million (the Offer). On 28 January 2020, the Board announced that it had received subscriptions up to its fundraising limit of £7.5 million and that the Offer was closed for further applications.

It was subsequently announced, on 5 February 2020, that the Board of the Company intended that an allotment in respect of applications for the 2020/2021 tax year would take place as soon as practicable after 6 April 2020. However, after undertaking a comprehensive review of the portfolio and making suitable provisions against the valuations of certain unlisted investments to reflect the impact that the COVID-19 pandemic could have on the trading performance of some of the underlying companies, on 26 March 2020 the Board announced an adjusted net asset value (NAV) of 55.91p per Ordinary Share as at 20 March 2020.

The Board had also announced on 26 March 2020 that it intended to delay the allotment for the 2020/2021 tax year to no earlier than 30 April 2020. This was in order to conduct a further review of the portfolio and ensure that the issue price would reflect the valuation of the underlying portfolio. This further review period has been extended in order to gain the fullest possible understanding of the impact of the pandemic over a longer period prior to allotment, but is expected to have been completed in time to allow the Company to announce an unaudited NAV in advance of the publication of the Interim Report and Financial Statements for the six months ended 31 May 2020. The Board anticipates that an unaudited NAV as at 31 May 2020 will be announced before 30 June 2020, with an allotment of shares in respect of the 2020/21 tax year taking place as soon as practicable thereafter.

For further information, please contact:

Maven Capital Partners UK LLP

Telephone: 0141 306 7400

E-mail: enquiries@mavencp.com

Maven Capital Partners UK LLP

Secretary

8 June 2020