Change of Manager

Pembroke VCT plc

Change of Manager

Pembroke VCT plc (the "Company") is pleased to announce that, as anticipated in the Prospectus relating to its initial share offer, a dedicated new Manager, Oakley Investment Managers LLP (previously named Pembroke Investment Managers LLP) has assumed the role formerly undertaken by Oakley Capital Management Limited. There are no changes to the terms of the investment management agreement between the Company and the Manager and the management team to the Company remains the same. Oakley Investment Managers LLP has the necessary authorisation and regulatory permissions from the Financial Conduct Authority to carry out investment business.

For further information, please contact:

Pembroke VCT plc

+44 20 7766 6900

Peter Dubens / Andrew Wolfson

The City Partnership (UK) Limited, Company Secretary

0131 243 7210

Robin Smeaton

FTI Consulting

+44 20 7831 3113

Edward Bridges / Emily Hartman