Net Asset Value(s)

Puma VCT 9 plc

3 May 2016

Puma VCT 9 plc ("the Company")

As at the close of business on 31 March 2016, the estimated Net Asset Value per ordinary share ("NAV per share") of the Company was 85.38p. This represents a decrease of 2.0 per cent on the NAV per share at 29 February 2016. The estimated fully diluted NAV per share was 85.38p. Cumulative dividends paid to date were 12.00p.

The movement in the NAV for March includes a provision that the Company has made against the carrying value of its investment in Opes Industries Limited, pursuant to the statement released by the Company on 4 March 2016. The provision has had the effect of reducing the NAV by 1.88p per share. The situation with regards to the investment in Opes remains open and difficult to evaluate; the Board continues to monitor the position closely. Further updates will be provided in due course.