Offer for subscription over allotment facility

5 April 2019

Pembroke VCT plc

Offer for Subscription - over-allotment facility

The directors of Pembroke VC plc (the "Company") confirm that they have resolved to utilise up to £10 million of the over-allotment facility of £20 million in relation to the Company's Offer for subscription (the "Offer). This increases the amount that can be raised under the Offer to £30 million.

A copy of the Prospectus is available, free of charge, from the registered office of the Company at 3 Cadogan Gate, London, SW1X 0AS.

Copies of the Prospectus have been submitted to the National Storage Mechanism are available for viewing online at the following website:

http://www.morningstar.co.uk/uk/NSM

For further information, please contact:

Pembroke VCT plc/ Oakley Investment Managers LLP (Manager)

020 7766 2836

Andrew Wolfson/ David Till

The City Partnership (UK) Limited (Company Secretary)

0131 510 7465

Doreen Nic

Cornerstone Communications

07917 080 365

Richard Acworth