Quarterly report to 31 December 2020

13 April 2021

Reconstruction Capital II Limited ("RC2" or the "Company")

The Company announces that at close of business on 31 December 2020 its unaudited net asset value ("NAV") per share was €0.1586.

Quarterly report

A quarterly report which details the activities of the Company for the quarter ended 31 December 2020 has been issued by the adviser of the Company. Copies of the report have been emailed to shareholders and will also be available, free of charge from the offices of New Europe Capital SRL, 24 Thomas Masaryk, Bucharest, Romania (tel: +40 21 3167680), for a period of 30 days from the date of this announcement.

The report will also be available on the Company's website:

http://www.reconstructioncapital2.com/investment-reports.html/

For further information, please contact:

Reconstruction Capital II Limited

Cornelia Oancea/Anca Moraru

Tel: +40 21 3167680

Grant Thornton UK LLP (Nominated Adviser)

Philip Secrett

Tel: +44 (0) 20 7383 5100