Share buyback policy objective

Mobeus Income & Growth 4 VCT plc

(the "Company")

Change in buyback policy - effective 1 August 2019

The Directors of the Company are aware that it is usually difficult for investors to sell VCT shares in the market at, or close to, Net Asset Value ("NAV"). The Board aims to provide shareholders who wish to sell their shares with an opportunity to do so by operating an active policy of buying back shares, thereby seeking, inter alia, to manage the level of discount to NAV at which shares made trade in the market.

The Company has operated its buyback policy with the objective of maintaining the discount to NAV at which the Company's shares may trade at approximately 10% or less. The Board announces that, with effect from 1 August 2019, its objective will be to maintain the discount to NAV at which the Company's shares may trade in the market at approximately 5% or less.

In pursuing this policy, the Board's priority will be to ensure that it is acting prudently and in the interests of remaining shareholders of the Company. Share buybacks will continue to be entirely at the Board's discretion and will be subject to the Company having sufficient funds and distributable reserves available for such a purpose. They will also continue to be subject to prevailing market conditions, the Listing Rules and any applicable law and regulatory restrictions at the relevant time. Shares bought back in the market will ordinarily be cancelled.

In light of the Company's announcement today regarding the intention to launch offers for subscription in the autumn of 2019, the Board would like to remind shareholders that Section 264(A) of the Income Tax Act 2007 restricts income tax relief where, within a 6-month period, an investor sells shares in a VCT and subscribes for shares in the same VCT (or vice-versa). Income tax relief may also be lost if selling shares before the end of the 5-year holding period. Shareholders wishing to sell their shares are therefore encouraged to consider their individual tax position and seek professional financial advice before selling their shares.

For further information, please contact:

Robert Brittain, for Mobeus Equity Partners LLP, Company Secretary

020 7024 7600