Publication of a Prospectus

14 October 2024

Calculus VCT plc (the "Company")

Publication of Prospectus

The Company has today issued a prospectus relating to a proposed offer for subscription for the tax years 2024/2025 and 2025/2026 to raise up to £10 million with an over-allotment facility of a further £10 million (the "Offer"), following the approval of the prospectus by the Financial Conduct Authority.

The Offer is now open and will close at 5.00 pm on 1 October 2025 (unless closed earlier at the discretion of the Board). Applications will be accepted (in whole or part) at the discretion of the Board, but the Board intends to meet applications on a 'first come, first served' basis.

In relation to the Offer, the Company's manager, Calculus Capital Limited, has been appointed as promoter of the Offer. Calculus Capital Limited is regarded as a related party of the Company under the UK Listing Rules ("UKLR"), therefore the terms of this appointment constitute a Relevant Related Party Transaction under UKLR 11.5.4R and 8.2.1R.

Pursuant to a promoter agreement dated 14 October 2024 relating to the Offer, Calculus Capital Limited will receive a fee of an amount up to a maximum of 5.0% of the amount subscribed under the Offer by Investors for acting as promoter of the Offer.

The Board considers that the transaction is fair and reasonable as far as the Shareholders of the Company are concerned and the Directors have been so advised by its Sponsor, Beaumont Cornish Limited who has provided the required written confirmation in accordance with UKLR 8.2.1R(3).

The Prospectus has been approved by the Financial Conduct Authority and will shortly be available to view at the online viewing facility of the National Storage Mechanism at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Enquiries:

Calculus Capital Limited

020 7493 4940

Madeleine Ingram

Beaumont Cornish Limited, Sponsor

020 7628 3396

Roland Cornish