Fundraising Update

 MOBEUS INCOME & GROWTH 2 VCT PLC (the "Company")

THE OFFER FOR SUBSCRIPTION IS NOW FULLY SUBSCRIBED

The Board of Mobeus Income & Growth 2 VCT plc is pleased to announce that, in accordance with its offer for subscription under the Prospectus dated 25 October 2019 (the "Offer"), the Company has now reached both its initial £15m limit, and the £5m over allotment facility, the utilisation of which was announced on 20 December 2019. On the basis of subscription forms received as of 10 January 2019, and assuming they are all accepted, the £20 million Offer is now fully subscribed.

This Offer was launched in conjunction with those launched by Mobeus Income & Growth VCT plc, Mobeus Income & Growth 4 VCT plc and The Income & Growth VCT plc (together the "Companies"). In aggregate, the Companies sought to raise up to a total of £38 million, with optional over-allotment facilities to raise up to a further £20 million.

On 8 January 2020, the Company allotted shares in respect of subscriptions totalling £11.06 million that were received up to 20 December 2019. As envisaged in the prospectus, the second and final allotment in respect of the balance of subscription applications since received are planned to take place between 1 and 5 April 2020.

The offers in respect of all the Companies are now fully subscribed.

For further information please contact:

The City Partnership

Receiving Agents

T: +44 131 243 7210

Mobeus Equity Partners LLP,

Company Secretary

T: +44 20 7024 7600