Unicorn AIM VCT plc (the "Company")

LEI: 21380057QDV7D34E9870

Offer for Subscription - Update

The Company published a prospectus on 24 January 2023, ("the Prospectus") containing an offer for subscription of up to £10 million with an over-allotment facility for a further £5 million through the subscription of up to a maximum of 15 million ordinary shares of 1p each ("the Offer"). Full details of the Offer are contained in the Prospectus.

Following the opening of the Offer at 09.00 on Monday 6 February 2023 the Directors announced at midday that the £5 million over-allotment facility would be utilised, increasing the Offer to £15 million.

The Directors are pleased to announce that they have been advised that, on the basis of the applications now received and assuming that they are all accepted, the Offer has been over subscribed.

Completed applications, including the receipt of cleared funds in respect of such applications will be accepted under the Offer on a first-come, first-served basis.

Investors whose applications are received after Monday 6 February 2023 are likely, therefore, to have their subscription returned in accordance with the terms and conditions of the Offer.

6 February 2023

For further information please contact:

Unicorn Asset Management Limited (the Company's Investment Manager) on

020 7253 0889

ISCA Administration Services Limited (the Company Secretary) on

01392 487056; or unicornaimvct@iscaadmin.co.uk